South African leader wanted Bitcoin and believed it will pay their debt

[fikrett]

There are more and more nations who are going up this path and I am quite happy about it because that's more money in bitcoin and that is why I believe that we are going to end up with a much better return without a doubt.

However, we are also talking about how we could end up with a much better return without realizing what kind of return that could be, and because of this we are going to end up with something much better, it is not going to be simple and it is not going to be easy, but we could make more money if we could convince our own nations as well. Americans somehow convinced Trump to support Bitcoin, Bukele at El Salvador did that before, and now this news. If we can all convince our own governments to support like this, we could see bitcoin growing even more in the future.

It can also end up in nothing if done not according to the plan / patterns / etc.
 
Nobody closes up this opportunity, but I do hope that wouldn't be the case.

[ultrloa]

There are more and more nations who are going up this path and I am quite happy about it because that's more money in bitcoin and that is why I believe that we are going to end up with a much better return without a doubt.

However, we are also talking about how we could end up with a much better return without realizing what kind of return that could be, and because of this we are going to end up with something much better, it is not going to be simple and it is not going to be easy, but we could make more money if we could convince our own nations as well. Americans somehow convinced Trump to support Bitcoin, Bukele at El Salvador did that before, and now this news. If we can all convince our own governments to support like this, we could see bitcoin growing even more in the future.

It can also end up in nothing if done not according to the plan / patterns / etc.
 
Nobody closes up this opportunity, but I do hope that wouldn't be the case.

So they better learn first on what they are trying to do since if they are just joining because of hype created by famous individual and going in without having a good knowledge with it I guess they might step at wrong track that might possibly make them lose those money they invest on Bitcoin.

But I believe they have all means to gather information and they can hire professionals on crypto space to guide them and provably everything would work out especially if they have the same level of eagerness what El Salvador leaders have.

[Yaunfitda]

There are more and more nations who are going up this path and I am quite happy about it because that's more money in bitcoin and that is why I believe that we are going to end up with a much better return without a doubt.

However, we are also talking about how we could end up with a much better return without realizing what kind of return that could be, and because of this we are going to end up with something much better, it is not going to be simple and it is not going to be easy, but we could make more money if we could convince our own nations as well. Americans somehow convinced Trump to support Bitcoin, Bukele at El Salvador did that before, and now this news. If we can all convince our own governments to support like this, we could see bitcoin growing even more in the future.

I'm not really sure if Trump if the Americans convinced Trump to support Bitcoin. It was Trump who take advantage of it and uses it in his political platform and then American support him or voted Trump because of that. As for Bukele, he had some opposition in the beginning and I think up to this day, but he is still in power and so we can't deny his country crafted their names in Bitcoin's history. There could be downside though for government is they make it as a national reserved. Of course I would like to see the price going up in the future with this kind of adoption. But they will be cautious as we all know how volatile Bitcoin is. And there will be times that we will go into a long bear market and they are going to see their investment going down, just like us average joe investor.

[Outhue]

I hope these people know what they are doing, because I don't see how Bitcoin will devalue Gold, they are both useful in their different ways, if a country is going to rely on Bitcoin as reserve or ways to clear their debt then they must hire experts in the field, because if done wrongly this will bring them more debt.

I have this dream for my country too as we are in big debt that might never be paid back forever but the leaders don't know how to handle crypto, they don't believe that Bitcoin can do any thing for the country, there was a man in 2019 who was a presidential candidate, he talked about how Bitcoin can benefit the country today but no one voted for him, I wish he is the present President of the country.

[Oluwa-btc]

At the end of the day, it impresses me to see and witness that Bitcoin doesn't just work for itself.Time is far spent and all I can see is Bitcoin acception and adoption.At least to a certain point,people are beginning to get convinced about Bitcoin,even though Bitcoin cannot pay their debts but the value and impact of adopting Bitcoin can pave a big deal for them to get out of debts.

[justdimin]

At the end of the day, it impresses me to see and witness that Bitcoin doesn't just work for itself.Time is far spent and all I can see is Bitcoin acception and adoption.At least to a certain point,people are beginning to get convinced about Bitcoin,even though Bitcoin cannot pay their debts but the value and impact of adopting Bitcoin can pave a big deal for them to get out of debts.

There isn't really a doubt about that but we shouldn't consider this to be a grown issue and we need to make it work one way or another. I believe that we are going to get a lot better result with time if we could wait for it and could make it do a lot better, but that require a lot of patience and unfortunately in this market there aren't a lot of people who have the patience for it and I believe that we are going to end up with a lot better results with time if we could have just that bravery to hold off for a while longer.

We are in a new year right now and I believe that we are going to get to 150k+ price and that should be the way to grow further and have a better approach, we are all going to make a profit in this new year.

[Questat]

You know, this is really possible having bitcoin to pay the country's debt but it may take few years probably before this will be realized, in which the country's debt will even increase more before that happens.

The best practical way of reducing the country's debt is to develop more potential resources that will bring revenues to the country. And for that, a smart and wise leader should be appointed, someone who is not only eyeing the government funds to make himself rich first before the country gets rich.

[Rockstarguy]

It is a welcome development to see leaders talk about Bitcoin and to have interest in it, but from what I read this particular person's doesn't have the real understanding of bitcoin. Bitcoin doesn't help in clearing a country's debt or building the economy just like that. Accepting bitcoin for sure it has it own good role to play as a store of value if it is invested and also plays a role as an alternative currency in a country that can be use freely.

If the country is thinking of hodling it as a longterm investment for sure it will be a good outcome but having it in mind if it is accepted it can pay off debt or improve the economy of the country immediately is wrong idea.

[ultrloa]

You know, this is really possible having bitcoin to pay the country's debt but it may take few years probably before this will be realized, in which the country's debt will even increase more before that happens.

The best practical way of reducing the country's debt is to develop more potential resources that will bring revenues to the country. And for that, a smart and wise leader should be appointed, someone who is not only eyeing the government funds to make himself rich first before the country gets rich.

Hopefully they know what they are talking about since its crazy that they thinking that way. Hopefully they know how to handle their acquired Bitcoin well and they are not the type of people getting panic when there's a dump will came.

To earn huge possibly it needs long patience before they able to see those result they wanted. So lets see here if they can deal with bitcoin for long years and they are not investing on Bitcoin because they are been hype by some facts that Trump is also taking his participation on Bitcoin. But I believe more countries will follow especially that Bitcoin is now getting a lot of good attentions.

[moneystery]

this is what worries me when these politicians get to know bitcoin. on the one hand I see that with the increasing number of politicians who know bitcoin it will influence the direction of policy in the country to be more friendly towards bitcoin, but the problem is they start to come up with absurd ideas about bitcoin, and one example is this statement that says that if they invest in bitcoin it will help them to solve their debts within 2 years. this is something that doesn't make sense because how can bitcoin solve their huge debt problem? in such a short period of time I doubt that they can solve even a quarter of their debt when they invest in bitcoin.

investing in bitcoin is not the main solution to solving their debt problems, but how they control their economy and reduce their spending, and attract foreign investment to enter their country, those are some steps they can take to reduce their debt.

[Ever-young]

Another wrong impression as seen, at first bitcoin is perfectly fine for the economy growth not the other way round when investing at the moment it’s still not satisfying rather the real aim why investing is for paying off debt. We can all agree they never had plans to hold not until the price is doing well meaning if bitcoin fall presently he’ll say same negative words about bitcoin. Bitcoin correction is at the corner and what if everything never went as planned, I think at this moment any government or organization using bitcoin to clear their debt should be careful because it’s more perfect if they hold this asset for feature purpose.

When you go into something with the wrong idea, the result will be based on two things: either you get lucky enough for your plan to work out just the way you planned it, or you get disappointed and lose even the little amount that you risked to double with the hope of getting double or triple the profit so that you can use it to clear up debt. 
 
I'm not sure if what he wanted can even be achieved; if not, it will take them decades of holding in order for them to see enough profit to clear up national debt, which I don't think one government will be in the same view with the other, which puts their term of holding before that profit time at risk.

[suzanne5223]

Another wrong impression as seen, at first bitcoin is perfectly fine for the economy growth not the other way round when investing at the moment it’s still not satisfying rather the real aim why investing is for paying off debt. We can all agree they never had plans to hold not until the price is doing well meaning if bitcoin fall presently he’ll say same negative words about bitcoin. Bitcoin correction is at the corner and what if everything never went as planned, I think at this moment any government or organization using bitcoin to clear their debt should be careful because it’s more perfect if they hold this asset for feature purpose.

When you go into something with the wrong idea, the result will be based on two things: either you get lucky enough for your plan to work out just the way you planned it, or you get disappointed and lose even the little amount that you risked to double with the hope of getting double or triple the profit so that you can use it to clear up debt. 
 
I'm not sure if what he wanted can even be achieved; if not, it will take them decades of holding in order for them to see enough profit to clear up national debt, which I don't think one government will be in the same view with the other, which puts their term of holding before that profit time at risk.

You guys both have some points, but I want us to know that they are not the only organization/government officials that have this impression. Although others may not be using their Bitcoin investment to pay debt, at least they are in the crypto space because they want to profit from it, not because of its innovation.

If they were to adopt Bitcoin, it would be a nice idea because most national debt comes from the amount of fiat currency the government prints out of thin air every year, and if they limit the fiat print every year through their adoption of BTC, it will technically help them with their national debt.

[Baki202]

There are more and more nations who are going up this path and I am quite happy about it because that's more money in bitcoin and that is why I believe that we are going to end up with a much better return without a doubt.

With the fastest development, people are eager to invest in Bitcoin, and many countries do not expect Bitcoin to take shape like this. These are things that they were supposed to have done a long time ago. Still, they are busy with how they will steal public funds and the countries that have invested. If they eventually decide that they will invest, then there is a lot for them to gain because all the people that invested in Bitcoin have no regret, so why is that they are finding it? To. Still, they are busy with how they will steal public funds and the countries that have invested. I try new things that people are going into so they won't have a choice that sooner or later they will have to invest.

However, we are also talking about how we could end up with a much better Bitcoin return without realizing what kind of return that could be, and because of this we are going to end up with something much better, it is not going to be simple and it is not going to be easy, but we could make more money if we could convince our own nations as well. Americans somehow convinced Trump to support Bitcoin, Bukele at El Salvador did that before, and now this news. If we can all convince our own governments to support like this, we could see bitcoin growing even more in the future.

The return should be something that is supposed to be some kind of inspiration, and the government should employ people that will help them manage their Bitcoin, and if they can employ people, get a monitoring team that will help monitor everything concerning crypto. and the nation that is so involved with Bitcoin is supposed to be ready to make things easy for their people because there won't be always an opportunity, so it is better to make use of it when people are investing. and El Salvador has their trust in Bitcoin before anything else, so there should not be an issue if African countries can also invest.

[Obari]

Bitcoin did not devalue Bitcoin and the prices of Gold is still on the rise.

Just for reference, the national debt of South Africa is in the hundreds of billions, more than 200 billion. His argument is solely on the grounds that Bitcoin will always rise in the future, which may or may not happen. I would think that reducing corruption within their country is a better way to solve their debt issues. If not, Bitcoin would just be an easier way to move money around their pockets.

Corruption a a major problem in almost all countries and I’ve been wondering if there any country without corruption because the case with my country is really insane and this is not me trying to talk down on my country but meh Africans truly needs help when it comes to the issue with corruption.

I once also thought like the politician on the possibility of a country clearing their debt by buying bitcoin and o gave up the moment my country’s government began fighting major exchanges in the country, I just concluded that any country fighting bitcoin is highly corrupt because their leaders wouldn’t want a transparent financial system like bitcoin where every transaction can easily be tracked.

[bitzizzix]

Bitcoin did not devalue Bitcoin and the prices of Gold is still on the rise.

Just for reference, the national debt of South Africa is in the hundreds of billions, more than 200 billion. His argument is solely on the grounds that Bitcoin will always rise in the future, which may or may not happen. I would think that reducing corruption within their country is a better way to solve their debt issues. If not, Bitcoin would just be an easier way to move money around their pockets.

Corruption a a major problem in almost all countries and I’ve been wondering if there any country without corruption because the case with my country is really insane and this is not me trying to talk down on my country but meh Africans truly needs help when it comes to the issue with corruption.

I once also thought like the politician on the possibility of a country clearing their debt by buying bitcoin and o gave up the moment my country’s government began fighting major exchanges in the country, I just concluded that any country fighting bitcoin is highly corrupt because their leaders wouldn’t want a transparent financial system like bitcoin where every transaction can easily be tracked.

Corruption cannot be separated and will always exist in every country that commits corruption. And if this country wants to be free from corruption, overthrow the country's leaders who allow corruption to continue because it is very detrimental to the country, and replace them with leaders who are firm and also very anti or hate corruption. Corruption will always come and go and come again if the country's leaders do not make strict and cruel legal regulations against corruption, they will not be deterred. And I really salute the country's leaders who give the death penalty in any way to leaders or politicians who commit corruption, and adopt Bitcoin so that the country's financial activities can be controlled and transparent and that is one of the goals of Bitcoin that they should use so that their country is free or at least the corruption rate decreases drastically because of Bitcoin and besides that Bitcoin will benefit them in the long term which can help pay off the country's debt due to corruption. And I think sooner or later all countries will eventually adopt Bitcoin and it's just a matter of time.

[Agbe]

Unless there is no interest debt and if there is interest in the debt then they have to pay a very huge amount of on the debt because bitcoin is not a investment that one can make huge profit within a short period of time but it should be 3-5 years. A d even at that it should be a very good calculative plan to start the investment so that they can pay the debt but as an economic expert like f I will advise them, it is better for them to use bitcoin for development and use another means to pay their debts by debt servicing methods. Then using the bitcoin investment to develop the city centers of the country. Because development itself it's a rigorous process.

[romero121]

Several factors contribute to the debt of the South African country. Few of those are the inadequate skills, governance failure, poor financial management, and lack of control authority. South Africa has a debt of more than $300 billion. How could they possibly end the country's debt in two years time through bitcoin  investment? El Salvador's president took a bold decision and started to invest in bitcoin. Initially the decision was much opposed, and slowly people started to accept the reality. Till date, El Salvador has invested around $297 million in bitcoin, and now it is valued around $600 million, which marks around $333 million in profit. In this situation, South Africa cannot make a big profit out of bitcoin and pay their debt.