late 2021
el-salv president bought ~2400 of actual bitcoin
this was for "government assets"
which it would allow its citizens to claim $30 allotments of.
the problem was they foolishly used blockstreams LIGHTNING as the backbone payment network of chivo. it could not cope with that amount
which by december 2021 was showing alot of complaints about lightning bottlenecks.. they soon dropped lightning and went for a CEX to manage the backbone of operations of payments
they also wanted to use blockstreams LIQUID for the bonds project.
the issue. and still remains an issue is that the liquid network does not have $1b worth of coin on its network
it only has ~4000 (l-btc)
https://blockstream.info/liquid/asset/6f0279e9ed041c3d710a9f57d0c02928416460c4b722ae3457a11eec381c526dthis caused more delays and change of plans
so i hope el-salv is actually going to buy actual bitcoins and avoid that blockstream subnetwork crap phishing themselves as being "bitcoin" but failing to actually work for el-salv
the idea for the bond is.
have bonds that they can sell for $$ to commercial banks around the world to then use that $$ income to partial buy btc
and...
build their geo thermal power plant. and then mine bitcoin and give back earnings/profit to the bond holders
however the smart plan is to issue bonds to buy bitcoin. and let the bitcoin price appreciate and then use the profits from the appreciation for the power plant, and then have coins left over to keep the bond holders happy while the build is occuring. and later refill the btc pot with mining rewards..
but lets see how they play it out