El Salvador's success?

[Ultegra134]

If President Bukele were a dictator, there wouldn't have been an election in that country. He would have just gone ahead to continue his tenure indefinitely. In every country, there will always be people who either love or hate you. And that is the case with Mr Bukele. He has those who support him and those who just don't like him. I am shifting towards him being more of an authoritarian than a Dictator. He is an authoritarian for the very strict measures he has taken. When El Salvador was Kidnapped by the Criminal Gangs, nobody was defending the poor and innocent Victims, but now that Presidente Bukele is getting the bad guys, now, the world pays attention to El Salvador and even publishes bad PR about him.

I'm certainly not calling him a dictator; that's how some media websites are portraying him, and I fully disagree. On top of that, he's receiving criticism that the economy is still in a bad state, that his Bitcoin adoption scheme wasn't effective, and that billions were wasted because Bitcoin had plummeted. However, Bitcoin has now surpassed $50,000. I don't know at what price El Salvador purchased it, but there's a high chance these claims may as well be abolished now.

It's interesting, though, that the media will constantly give him crap about what he hasn't resolved yet, such as the economy, while the country is tremendously suffering from gang violence. This was the first step in fixing the economy, and it was necessary. I don't understand how it was even remotely possible to resolve the financial crisis with gangs still in place.

[1715406162]

1715406162

[Mate2237]

What's your opinion? Do you support the way president Bukele tackled corruption and crime, or is he rightfully being called a dictator?

Government has only two major functions and any other ones are subjected to these two. And one the function is protection. It is the the duty of the government to protect his citizens for all means so if the dictator can provide adequate protection for his citizens then that is a good dictator, if he is not using it to commit genocide then let the dictator continue then the second one provision. I think the President of El Salvador is trying his best to provide and making things easy for the citizens. He provides bitcoin for all so that things would be easy.

There are some countries in the world are suffering for militias and such dictatorship government is needed to tackle those gangsters in the countries. And those guys activities affect the growth of the nation economy. And El Salvador was suffering for National Economy because of the gangsters and now that the president is dealing with the economy of the country has revived.

Last year, four or five African countries were seized by military personnels and automatically turned the governments to military governments and the citizens were very happy. And now from looking at things when the citizens were jubilating then there was something wrong in the Civilian Government. Civilian Government uses Democracy to deceive the massive to embezzle the National Funds, I will love to see a kind of El Salvador President.

[bestcoins1]

if it is about criminal drugs and the like, they prefer to use cash rather than bank transfers or use crypto because using cash can be used immediately and easily laundered. if it uses bitcoin, it will reduce crime. but if you fully use bitcoin, it will be troublesome for people if they shop in traditional markets and the fee for sending bitcoin is quite high so if every transaction is subject to a fee, it will be troublesome and inconvenient for the people in the country.

It seems that you don't know the condition of society and Bitcoin in the country of El Salvador, where even the El Salvador government itself has long formalized Bitcoin as a legal currency used by the public in any case in their own country. And this year the country of El Salvador has also succeeded in creating a Bitcoin learning curriculum for their school students who are generally still very young but have been able to experience the knowledge of Bitcoin in a more complete way.

Meanwhile, for any transactions that do not include transactions in prohibited goods such as drugs, people in El Salvador themselves can also freely use whatever currency they want. But when it comes to crime or drugs, of course using cash as usual will make it easier for those who do this to hide from the authorities in that country. Because as long as the country of El Salvador was led by Bukele, there were many gangs that he eradicated in order to make the country of El Salvador safer as well as continuing to organize it quite beautifully.

[Haunebu]

Bukele is definitely not some sort of Messiah or anything and he has his own ulterior motives which anyone with a half-decent brain can see, but he still deserved to be re-elected since he definitely did more good than bad.

He is way, way better than filth like Kim Jong Un, Trump etc who have consistently done more bad than good during their leadership.

[Ultegra134]

Bukele is definitely not some sort of Messiah or anything and he has his own ulterior motives which anyone with a half-decent brain can see, but he still deserved to be re-elected since he definitely did more good than bad.

He is way, way better than filth like Kim Jong Un, Trump etc who have consistently done more bad than good during their leadership.

Some claim that he was a part of the gang underworld as well, which played a vital role in eradicating crime and gang violence. Certainly, he's not a Messiah, but so far it seems that he has solved an ongoing issue that was causing thousands of deaths and was burdening the economy in the process.

It seems that you don't know the condition of society and Bitcoin in the country of El Salvador, where even the El Salvador government itself has long formalized Bitcoin as a legal currency used by the public in any case in their own country. And this year the country of El Salvador has also succeeded in creating a Bitcoin learning curriculum for their school students who are generally still very young but have been able to experience the knowledge of Bitcoin in a more complete way.

Meanwhile, for any transactions that do not include transactions in prohibited goods such as drugs, people in El Salvador themselves can also freely use whatever currency they want. But when it comes to crime or drugs, of course using cash as usual will make it easier for those who do this to hide from the authorities in that country. Because as long as the country of El Salvador was led by Bukele, there were many gangs that he eradicated in order to make the country of El Salvador safer as well as continuing to organize it quite beautifully.

Excuse me but the user you quoted has no idea what he's talking about, this wasn't even the subject of this topic. Relative to what you mentioned, I doubt that Bitcoin had any role in payments between gang activity, cash is king in such instances.

[stompix]

I'm certainly not calling him a dictator; that's how some media websites are portraying him, and I fully disagree. On top of that, he's receiving criticism that the economy is still in a bad state, that his Bitcoin adoption scheme wasn't effective, and that billions were wasted because Bitcoin had plummeted. However, Bitcoin has now surpassed $50,000. I don't know at what price El Salvador purchased it, but there's a high chance these claims may as well be abolished now.

These are the figures of GDP growth in 2022/2023 for central america:

Guatemala  4.1%  3.5%
Panama  10.8%  5.1%
Honduras 4%   3.2% 
Salvador 2.6%  2.7%
Nicaragua 3.8%  3.1% 
Costa Rica 4.6%  4.1%
Belize 8.7% 4.2%

So in short Salvador had the lowest GDP growth of all the countries in the region in two consecutive years!
In order for Bitcoin to play a role in the growth to reach the median of the region they would need a return of investment of  180k per coin each year.

Basically no, economically Salvador is going backwards, Bitcoin or no Bitcoin!
Bitcoin is not a magic cure for an incompetent government, you can be pro Bitcoin and still stupid as f*** in your decision!

[harapan]

~Snipped~

The reason I'm not going into much detail regarding Bitcoin's adoption as legal tender is because there are plenty of other threads analyzing it. I don't doubt that Bitcoin has provided some sort of assistance in the economy; it's very possible; however, I believe that it wasn't what Bukele was anticipating when he introduced Bitcoin to the economy.

Bukele's approach to tackling the crime rate was harsh but justified, and I personally don't think any other approach would have such a success rate. Not only were gangs responsible for thousands of deaths, but they were also ruining the economy in a variety of ways. With it now being a safe country, the tourism sector is far more likely to boom, leading to more work opportunities for locals and increased revenues.

The security problem of el Salvador had been a measure concern to Nayib bukele after his first tenure.El Salvador has faced too much problems,inhumane treatments,harsh and life threatening that restricted them access to freedom of movement.The situation of human security deter their way lives as citizens.
 El Salvador president have successfully completed and offered the citizens an opportunity to have bitcoin as a legal tender and he will soon make sure that he handles this security problem with ease so citizens can live without been subjected to inhumane treatments against their will.
 It

[kryptqnick]

It's wonderful news that it's now among the safest Latin American countries, that surely says they're doing something right. Also, considering that violence is often linked to poverty, it might imply some economic changes as well. I see that some success was due to harsh but important measures to weaken gangs, and I believe that people have the right to choose a strong leader who can introduce strong measures when there are pressing matters like gang wars.
For now, it seems difficult to measure its economic growth, but 2021 was a great year of getting out of the challenges of the pandemic, and 2022 was on par with typical annual GDP growth for this country.