nypost.com
That's already been exposed for a cheap hit piece. Bitcoin has completely revolutionized El Salvador.El Salvador Had a Bitcoin Revolution. Hardly Anybody Showed Up
(Bloomberg) -- El Salvador President Nayib Bukele took the stage last year to fireworks and AC/DC’s “You Shook Me All night Long,” announcing to a cheering crowd of crypto enthusiasts at a beachside confab that Bitcoin would revolutionize his country. It was November, the digital token had just...finance.yahoo.com
El Salvador President Nayib Bukele took the stage last year to fireworks and AC/DC’s “You Shook Me All night Long,” announcing to a cheering crowd of crypto enthusiasts at a beachside confab that Bitcoin would revolutionize his country. It was November, the digital token had just notched new all-time highs and El Salvador was at the very beginning of its experiment as the world’s first nation to use the cryptocurrency as legal tender.
“No one really talks about Bitcoin here anymore. It’s kind of been forgotten,” said former El Salvador central bank chief Carlos Acevedo. “I don’t know if you’d call that a failure, but it certainly hasn’t been a success.”
“if you go to any market in El Salvador, you’re more likely to receive an insult than be able to purchase something in Bitcoin,” said Laura Andrade, director of the university’s public opinion institute, which conducted the poll. “It’s not a part of people’s daily routine.”
I'm going to have to check that out with wikipedia for factual accuracy.
So you don't understand how Wikipedia works, just like I said.
It was written by Bloomberg yesterday. Who the hell is he reading that’s says it’s a hit piece? I’m betting they don’t have Bloomberg creditability on financial reporting.
One of us doesn't, this much is fact.
The Volcano Bond has absolutely nothing to do with the silly hit piece you quoted.
LOL
You can copy and paste well.LOL
A Poor Country Made Bitcoin a National Currency. The Bet Isn’t Paying Off. (Published 2022)
It brought El Salvador’s president, Nayib Bukele, the adulation of the tech community, but reduced scarce funds and moved the nation closer to default.www.nytimes.com
Bitcoin was meant to transform El Salvador’s economy, catapulting the poor Central American nation into an unlikely harbinger of a financial revolution.
But nearly a year after the country’s president, Nayib Bukele, shocked the financial world by making its most popular digital coin a national currency, his bet appears to be backfiring, highlighting the gap between the utopian promises of cryptocurrency’s proponents and economic realities.
The government’s bitcoin holdings have lost about 60 percent of their presumed value during the recent market plunge. The use of bitcoin among Salvadorans has collapsed and the country is running out of cash after Mr. Bukele failed to raise fresh funds from cryptocurrency investors.
www.nationalreview.com
You can get your ass kicked and it’s super easy to do.
Do you understand that Bitcoin is down 60%? That fact aside, Bitcoin has completely revolutionized the nation.The Verdict Is in for El Salvador’s Bitcoin Experiment: It Failed | National Review
El Salvador’s president, Nayib Bukele, may be Bitcoin’s most visible publicist.
As night follows day, this higher risk profile has invited credit downgrades. In the last six months, Moody’s, S&P, and Fitch have all downgraded El Salvador’s sovereign-debt rating, pushing it into speculative territory — junk, and rightfully so. Not surprisingly, since the Bitcoin law was implemented in September 2021, the price of the Salvadoran dollar-denominated sovereign bond due in 2025 has plunged by 48 percent. Today, Bloomberg Economics lists El Salvador as the most likely country in Latin America to default on its debt.
According to those articles it has not:
If you're suggesting that Bitcoin hasn't revolutionized El Salvador, you're dumb and/or trolling.
I posted three articles from major publications that say it hasn’t. If you find that opinion outrageous then I suggest you write letters to the editors detailing how they are in error and you have superior information that proves them wrong.
This is the first day in months I've bought Bitcoin. Had a limit order hit at $18,900 and it went straight into cold storage forever.Tough day. It needs to get back up to that support level in the low 19k area pretty soon or the fund will start dumping.
IF it gets down to $15K (or below) I'll probably pick up 1 or 2, but would rather see it get down to under $10K and I would definitely "splurge" then!!
