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Will Bitcoin Bankrupt El Salvador? What Went Wrong? – TLDR News
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If it wasn't for the poverty of most Salvadorians, I'd find it funny how Bukele has figured out how to combine the worst aspects of fiat state currency with the worst aspects of cryptocurrency
DICTATOR = IDI….=TRASH
Levant Fenician mentality. Nothing good for El Salvador
It seems a bit weird to compare approval ratings between disparate countries. It's not independently and internationally measured, right? What are the differences in how approval ratings of country leaders are established?
It’s a tough time for El Salvador these days, but it’s gonna make it. In 10 years it will have bigger GDP than Great Britain. Much better video explaining real situation https://www.youtube.com/watch?v=I0nXWMnW2ZA
I don’t get why he pushed for bitcoin
Man is the definition of crude but affective solutions, until this policies stop becoming effective
Great video!
Poorly titled video, Bitcoin is actually saving ElS. It is currently one of the only tourist friendly nations in America
So, a liberterian's wet dream has become an autocrat's tool.
I think that eventually El Salvador will be Vindicated on their bets on bitcoin. But it's going to take a year or two from now for that effort to start to bear fruit.
Even a conciderable amount of GDP in most of the Developed and Developing countries hold its capital over crypto currency now.Imagine 3% of a certain nation's GDP freezed unexpectedly . Please do such program considering that impact . Thanks . Very informative and well organized presentation .
In Normal times when there is not panique of inflation in the world BITCOIN can and will do well, but with possible inflation in the world , any currency will not do well ,except the U.S. dollar or Gold……If you want to know if there is a sign of inflation check the price of oil or go to the Gas station and you will know it.
Yes
Bitcoin ,At this time the politiciens are playing economic politiques, that is an open Door to play with the Currency :Example: The COVID 19, THE possible war in Ukrain and Iran in these three scénarios,Politicians will increase inflation or reduce it, so People or ivestors in panique will continue to buy U.S. dollars that will help the U.S. economy in tree seconds and others currences will automatically loose their value as in this case the BITCOIN
I want cryptocurrencies (in the current form) to be banned, and I think it's a question of time before they are either regulated out of existence or made illegal. So, I think adopting a cryptocurrency as legal tender is a bad idea.
9:30 What do you tihnk? –>Think
1400 + 410 Bitcoin is not that much. They are not over-leveraged (metaphorically speaking, not meaning classical leverage, rather ratio of Bitcoin to other assets).
They can gain if Bitcoin will go up, downside is pretty limited even if BTC go zero (very unlikely).
Bitcoin is a technology not a currency, a technology that can aid the already failing financial system we rely on
Look we need a global currency and store of value and one off government printing charts. Decentralised and democratic. Bitcoin is it. In time it will help stabilise Fiat in return. Alts can’t do it, gold can’t do it, one nations Fiat definitely can’t do it. The flux will calm in time. But the idea we can move to a next generation civilisation on a central bank platform is bloody absurd unless you have lots of it and near supply which is biased. This does not mean or equate to unregulated use.
The Bitcoin bears have the overall near-term technical advantage as prices are trending lower. After an up-and-down few months for the market, analysts appear divided over which way it heads from hise. Some believe we are in a cool-off period that will see the price slide to yearly lows, while others predict new all-time highs before the middle of 2022. So choosing the right strategy is very important when diving into Crypto, in other words it is important to have a plan! Bitcoin trading is a lucrative opportunity as it leverages the market volatility, I have been able to make 7BTC in just 3weeks of trading all thanks to exclusive signals from Jeff A. Miner, a renowned trader that is way ahead of his time. You can get him on Tєlєɠгคm👉Jeffminer…
Bro just the recent Crash (it drop to 33k) makes me doubt that they will recocer
I'm pretty sure Bitcoin's price will keep on rising over the next years. El Salavador will be more than fine if it can survive this shock!
LMAO😂😂😂😌
Speculators are ruining cryptocurrency.
You can't really criticise him for being authoritarian, every government is nowadays
CORRECTION! Moody's actully backtracked and stated that El Salvador's rating was unchanged! This was like 8 days ago…. How did you miss it?
Mrs Maria is legit and her method works like magic I keep on earning every single week with her new strategy,…
His approval will be 95% when Bitcoin is 100k… which it must become eventually.
There is already some important information missing in the Viedo.
In addition to Bitcoin, it is still possible to pay with US dollars in El Salvador. Any merchant can receive payment in either US dollars or Bitcoin, regardless of which payment method the customer chooses. The reason for this is the Civa app, practically the crypto wallet, which every El Salvadoran can use, here the one currency is converted into the other. Most merchants continue to choose US dollars, as Bitcoin simply fluctuates too much to be used as a currency. As long as the central bank have enough US dollars to exchange , all no problem in everyday life . However, many young El Salvadorans take advantage of the easy barter opportunities to make money with currency exchanges (dollars to Bitcoin and vice versa) , which is not very productive macroeconomically.
For the state, of course, it can be problematic if he can not pay his debts, which must be paid in U.S. dollars, because too much money is in Bitcoin and the just down. But that was also addressed in the video.
politician elon musk?
Which software do you use to make your videos?
bitcoin != crypto
crypto is centralized premined permissioned scams
bitcoin actually is designed in a way it claims – decentralized, no premine, no permissioned supply, nobody gets it for free.
why would they use USD when over a third of it was printed by someone else diluting its value with no benefit to them. sure they have volatility now, but they are not subject to whims of a country far away diluting them to 0 with no way to stop it. that's the single thing bitcoin was created to address that all the fake "crypto/meme" coins cannot and have not – easily changing any of rules any time they want.
Bukele seems like great leader. Not sure about the Bitcoin thing but otherwise he is exactly the leader I would want in power
#BanBitcoin
This bitcoin switch was such a bad move lol
The stock market is just gambling with small hints. A nation's economy can't rely on such an unstable, uncontrollable factor.
Lol I saw this coming from a mile away.
He could have just made his own backed by dollar currency, or made a deal with tether to use their platform, and all would have ben fine 🤦🏻♂️
9:29 typo
doesn't matter if bitcoin is at 100 million a coin or 1 cent, I will leave such a country with wild shitty rules & law.
his monetory policy is similarly shitty as erdogan's policy.
also crypto is not nor will ever be a stable, trusted, and as liquid as cash.
crypto is just like nft …. unstable shit waiting for the right moment to burst.