Argentinian Regulators Talk Bitcoin with El Salvador Authorities

[bbc.reporter]

@pakhitheboss. I agree that it is a complicated circumstance, however, I am not arguing about this. I am arguing about the negotiating power of the IMF and the World Bank and how El Salvador's adoption of bitcoin as legal tender has decreased this on the negotiation table.

I am unsure how Bitcoin as a legal tender will give El-Salvadore an upper hand on the negotiation table. This is a complicated situation and only the President or his financial advisory team will know. I can only comment that in a way IMF and the World Bank are controlled by the US and as of now some of its most powerful financial institutions have the biggest bag of Bitcoin. This will only give an upper edge to the US government in controlling countries like EL-Salvadore as the government can ask those financial institutions to create a few market dips which is quite possible as to regain control. Bitcoin is still decentralized by its nature but these powerful institutions are slowly taking control by buying more and more from the market. I read somewhere and I am sorry I can not post the link but most exchanges are now not having as much Bitcoin as they used to have before the spot ETF approvals.

It has given some power back to Nayib Bukele on the negotiation table because he is doing what the World Bank and the IMF does not want. These institutions run by the rules want the small minnows to use only their currency because they want control. This is not anymore wholly possible with bitcoin as legal tender because the IMF and the World Bank cannot control bitcoin.

Also, what is more important is the symbol created from bitcoin being adopted as legal tender because other countries that want power back from the IMF and the World Bank can also begin to accept bitcoin as legal tender. I reckon that this is very much underestimated.

[Maus0728]

What's the update to this talks of Argentina with the El Salvador, I assume that the talks have been a success and that they're starting with the plans to implement crypto related stuff now because there's no way that it's almost a month now and nothing's happening. Hopefully whatever the current Argentinian president is doing is going to benefit the whole of Argentina, the last that I've heard about this guy when he was elected is that he was eliminating the excess spending in the government and that he's removing a lot of officials in a lot of offices to start anew with some reforms.

[Z-tight]

It has given some power back to Nayib Bukele on the negotiation table because he is doing what the World Bank and the IMF does not want. These institutions run by the rules want the small minnows to use only their currency because they want control. This is not anymore wholly possible with bitcoin as legal tender because the IMF and the World Bank cannot control bitcoin.

I don't know why you have been repeating the exact same thing, even when it is incorrect and when more than one member has tried to explain things to you. How does making BTC a legal tender give El Salvador power in the negotiation table, they accept and pay back loans in the U.S dollars and not in BTC.

Surely the IMF and the World Bank cannot control BTC, but that is not what we are talking about, El Salvador isn't going to be offered loans in BTC, but in the U.S dollars, so what's really your point?