You no coiners can continue claiming no one uses/accepts bitcoin though, and we can continue placing you off to the side of any legitimate conversation of reality.

History is being made baby. Exciting times to be alive.

End the corporatic technocracy, opt out, mine fiat, buy bitcoin.

No one cares

Haven't looked into it, are they processing transactions with the normal ~30m transaction time? Or are they using some other wallet system to alleviate that?

Capt. Augustus McCrae said:

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No one cares

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You cared enough to click on it.

Im not really pro or anti bitcoin so this question isnt an attack on the position. But a sincere out of curiosity question. The electricity needed to get bitcoin is apparently massive,...and increasing. How will el salvador handle this? Also, how does the finite number of BTC (21 mil?) impact this as a national currency?

https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html

Tell us something interesting you've bought with fiat currency.

El Salvador's national GDP is the size of the city of Cincinnati's

The US government charges capital gains tax when Americans cash in crypto

Governments with viable fiat currencies will fight it tooth and nail

Listen to Warren Buffet

Trying to figure out the money laundering slant to this...

No there's a lot of purposeful misinformation by ESG twunts, they've muddied the waters for the uninitiated.

This isn't the topic of the thread and I won't dive into the complexities here. But essentially nothing you asked is relevant to the adoption of bitcoin, mining secures the network and is exceptionally energy efficient, despite what incompetents or ****coin shillers will try to tell you.

It's a great day for El Salvador. I'm sure the good citizens of Sonsonate will appreciate and understand the intricacies of Bitcoin valuation and trade.

Within 30 days, only 5% of Salvadorans will own any Bitcoin. And nothing will be different.

wbt5845 said:

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Within 30 days, only 5% of Salvadorans will own any Bitcoin. And nothing will be different.

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It's different in that every transaction will be performed in bicoim, enforced by law [I dont necessarily agree with the force but that's the language] and the citizens will have the opportunity opportunity immediately transfer it to USD or keep it to btc.

Would you rather have USD that's consistently inflating or a hard asset that appreciates in value? A large percentage of ES citizens are unbanked or underbanked, would you rather have access to the complete financial system if cryotocurrency or continue hiding USD under your mattress while it's value erodes?

Hopefully they will prosper and stop coming here

OP advocates for people to use drugs and also pushes Bitcoin. What could go wrong?

I hope it's successful there and serves as a good use case for crypto. I'm not a bitcoin homer at all and am still skeptical it can serve as currency, but everyone on here needs to be rooting for it whether or not you understand it.

The last thing you want is a US digital currency to rule the land. Kiss your liberties good bye the day that happens.

rocky the dog said:

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I usually like your posts, but this is silly. Also, I have never once commented on a cryptocurrency thread.

There are ATM's all over where you can easily cash out $5k a week. It isn't very hard to sell larger amounts and transfer the money to your bank.

Hell, stocks are much less liquid, real estate even more so, but you would never see a meme like this associated with those investments.

Sounds like the have 30 DOLLARS in imaginary money.

Barnes should head to El Salvador and claim the make believe king thrown.

Quote:

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El Salvador has one of the world's highest homicide rates, partially due to corruption and impunity. State security forces have committed egregious abuses, including extrajudicial executions, sexual assaults, and enforced disappearances. The authorities have failed to investigate crimes and collaborated with gangs. Gangs exercise territorial control, extort residents, and kill, disappear, rape, or displace those who resist them. Girls and women alleged to have had abortions have been imprisoned for homicide.

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But at least they have 30 bucks of Bitcoin lol. Clown show

CrawlingNo5 said:

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Quote:

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El Salvador has one of the world's highest homicide rates, partially due to corruption and impunity. State security forces have committed egregious abuses, including extrajudicial executions, sexual assaults, and enforced disappearances. The authorities have failed to investigate crimes and collaborated with gangs. Gangs exercise territorial control, extort residents, and kill, disappear, rape, or displace those who resist them. Girls and women alleged to have had abortions have been imprisoned for homicide.

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But at least they have 30 bucks of Bitcoin lol. Clown show

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The new president has massively decreased crime rates in his country and the reason he's forcefully adopting bitcoin is to give people more opportunity and drive investment into the country so that the demand to join criminal enterprises decreases dramatically.

Your data is dated.

El Salvador is a sh^thole. I think we should be celebrating that their fairly dynamic President is trying innovative ways to improve his country. I saw an interview with him where he openly acknowledge it was a sh^thole and they had to do anything they could to keep their people there and not leave for America.

We need to be supporting this.

OP,
How much do you stand to gain from increased adoption of "crypto"?

YouBet said:

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El Salvador is a sh^thole. I think we should be celebrating that their fairly dynamic President is trying innovative ways to improve his country. I saw an interview with him where he openly acknowledge it was a sh^thole and they had to do anything they could to keep their people there and not leave for America.

We need to be supporting this.

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https://www.immigrationreform.com/2021/03/21/el-salvador-president-immigration-immigrationreform-com/

lead said:

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YouBet said:

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El Salvador is a sh^thole. I think we should be celebrating that their fairly dynamic President is trying innovative ways to improve his country. I saw an interview with him where he openly acknowledge it was a sh^thole and they had to do anything they could to keep their people there and not leave for America.

We need to be supporting this.

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https://www.immigrationreform.com/2021/03/21/el-salvador-president-immigration-immigrationreform-com/

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Yes, that sounds like the interview I saw.

lead said:

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OP,
How much do you stand to gain from increased adoption of "crypto"?

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the same amount as the rest of humanity, a better system that promotes increased cooperation amongst humanity exceeding Dunbar's number, instead of a failed/failing system that incentvizes corruption, crony capitalism, and an infinite amount of bad behavior to the detriment of humanity.

I dont support "crypto" I support bitcoin. "Crypto" is scummy/scammy and full of false premises and promises.

Obama authorized in 2015 USAID injection of $1 billion tp El Salvador, which Biden oversaw as vice president and coincidently his brother James oversaw two NGO's that were supposed to beef up the telecommunication infrastructure and Gov't supplied housing in country.


Trump authorized El Salvador in 2020 received $62 million in U.S. aid, about $60 million of which was administered by USAID, after they stepped up and shut down the caravan flow in 2019 from their region after President Nayib Bukele was elected in 2019.

In 2021 when Kamala went to El Salvador the Biden Administration pledged $4 billion to El Salvador's President Nayib Bukele.

Wonder how much USAID money is footing the bill for that? I'm guessing 100% of it is funded by USAID

Wonder what % stimulus monies to us citizens were spent on "crypto?"

Whats your point?

administrative errors said:

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Wonder what % stimulus monies to us citizens were spent on "crypto?"

Whats your point?

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How many of those El Salvadorans pay US Income Tax? ZERO

Comparinging USAID to some third world country to Stimulus paid to people who the money belongs to in the first place is idiocy

What's your damn point....

I wouldn't be so quick to dismiss it, watch what the major institutions are doing, they're adopting crypto. Buffet ain't the only exerpt out there. Ray Dailo is in on BTC, and many others. There is plenty of debate on what it will play out as...currency, store of value, or energy value.

It's here and here to stay. You might as well learn about it if you're paying your high dollar financial investors who are putting money into corporations that have BTC on their books.

I read that the El Salvador President also forced the supreme court to allow him to run for president again, which is supposed to be not allowed per to their constitution. Maybe this giving away bitcoin thing is just smoke and mirrors.

Yup, he's consolidated a bunch of power for better or worse [usually worse] but bitcoin changes power structures and removes much of the ability an authoritarian/tyrant need to tyrannical.

Excited to see the experiment and I will support good behavior appropriately with where I spend my hard earned bitcoin.

The impetus of the USAID is a bribe of sorts to increase the infrastructure in that country decreasing demand to emigrate emigrate the US.

It sounds like they are using USD for its best use case, buying bitcoin.

Based on my my over 20 years as an expat living and working in Latin America, a lot of time in SV over the years, and some in the Caribbean I would bet that at a minimum 80% of USAID money never leaves the US.

That program is the uber definition of socialism. It buys a ton of stuff, both service and goods, from US companies (some of which do nothing but sell to the government) and then send those goods and services to other countries for them to hand out.

I will never forget seeing flat bed trucks loaded with 50# bags of USAID spaghetti being sold in the markets in Haiti. Or bags of US rice being sold in Nicaragua. Also seen ships and barges with what I believe was some kind of asphalt or something for roads being unloaded in Honduras, at Puerto Cortez.

USAID is such a scam.

administrative errors said:

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The impetus of the USAID is a bribe of sorts to increase the infrastructure in that country decreasing demand to emigrate emigrate the US.

It sounds like they are using USD for its best use case, buying bitcoin.

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No USAID is a massive money laundering institution for politicians with relatives that are connect to NGO to launder money back into their own cofers clean and clear. The Clintons, Pelosi and Bidens all have raked in mega fortunes from USAID funding. Ukraine, Haiti, and the Northern Triangle have been hotbed for these ops for decades.

Biden pledging $4 billion USAID to them and they dole out $1.05 in BTC that leaves a lot of meat on the bone for the Swamp NGOs

The problem with USAID it doesn't take an act of congress to move money around. USAID is a bottomless slush fund controlled by the State Dept to screw the taxpayers for the upper elite swampers that have spent their lives in DC going from middle class carpetbaggers to multi millionaires, all in the name of humanity.

Now imagine the same concept happening on a public blockchain and seeing where the funds actually make their way into which politicians pockets...