I am happy that Bukele was able to secure victory for the second tenure which means we are sure of the progress of Bitcoin in El Salvador for the next five years. He deserves a second tenure because the biggest impediment to the development of El Salvador is organised gangs which lead to an increase in crimes. But he made some policies that have reduced criminal activities which has attracted investors to the country. He has also made a positive impact on the tourism sector of the country. The next five years will still be an era of buying Bitcoin because I have never heard of Bukele talking about selling.

Congratulations Nayib Bukele for re- elected as president.
Bitcoin always win ...



Most of the people of El Salvador had confidence in this president, especially after the approval of Bitcoin, the revolutionary steps taken by the President of El Salvador, Nayib Bukele, were all timely and very beneficial for the people of Salvador. That is why the people of Salvador elected the president in the re-election period from 2024 to 2029.

I am not necessarily against Bukele, but an election result of 87% reminds me of sham elections in dictatorships. I don't want to imply that for El Salvador, but it does have a certain flavor when a president who is not uncontroversial among his own people achieves such an election result.

Does anyone know whether foreign election observers were present and admitted?

But he was re-elected.  What are you asking?  What if he had not been re-elected? You are presuming what if reality was not real.  What if the opposition took over?  It is not as easy for the opposition to take over when Bukele has such high approval levels, so maybe you are asking what if Bukele was not so popular?

In regards to bitcoin, what if the country changes its mind about bitcoin because some leader other than Bukele were to come to power?  What if there were a coup d'éat?

We likely need more details regarding some kind of a factual scenario to help you to reach some of your presumptions that some kind of event in which Bukele were to not come to power than there would be a sliding off of the desire for Bitcoin as legal tender.. so some how bitcoin would also need to be blamed for some issue.. .maybe if the bitcoin disappeared or maybe some other corruption were to be discovered in the administration.. but we still would need more context for your fantastical "what ifs?"


Right now the dollar and bitcoin are both legal tender, and so residents can use either one, and there were some provisions that merchants would have to accept it; however, from what I heard, there are still a decent number of residents that are still not set up for accepting bitcoin, and also I am pretty sure that the El Salvador said that it is not prosecuting merchants for not being set up, even though it would seem that if the merchant is really BIG then they should have to have the capability of accepting bitcoin.. so I am not sure if they are never going to not enforce those kinds of issues. Maybe we need more investigation into those parts?

It seems that initially many of us thought that they would be using lightning network to spend, but a lot of the lightning network involves various custodial solutions, so there are not very many non-custodial (or self-custodial) lightning solutions, even in the last couple of years.  On chain transaction fees have not been helping the ability to transact with small items using bitcoin, and surely some folks are reluctant to spend their bitcoin, even though if tourists are coming in, then they might not be reluctant to spend their bitcoin, especially if they have had bitcoin for a long time, but still it seems that due to relatively low BTC prices (spending a lot of time below the 200-week moving average) a lot of bitcoiners might have been reluctant to spend their bitcoin between May 2022 and October 2023.. so there could have been some resistance to spending during that pretty long period of low BTC prices.


I would imagine that success or progress could be measured from a lot of kinds of indicators besides ONLY whether BTC is being transacted within the country, and so if there might be various kinds of infrastructure building that is going on to improve cell service and the availability of various kinds of technology, then at least the excuse of lack of technology might not be focused upon... At the same time, in some countries there are accounting and tax consequences, but El Salvador does not have that issue and it does not have the issue of administrative hostility, and perhaps the administration is trying to encourage and educate people about the various ways that they would be able to use bitcoin. 

I doubt that El Salvador is considering it nearly 2.5 year roll out of bitcoin to have had been a failure, even if there might be some areas in which it is appearing that adoption and usage of bitcoin is still not rising to very high levels... but then now with Bukele's election to another 5 year term, we may well be able to see how bitcoin adoption progresses in El Salvador during that time - presuming that Bukele stays in power for the next 5 years. ..that would be bringing us into 2029.

New president has potential will change the previous regulation exactly with bitcoin have been legal under Nayib Bukele can't guarantee when changing president keep defend to make bitcoin keep legal currency. But regarding the latest media published by BBC about the victory of Nayib Bukele make proud for El Savador citizen with bitcoin keep using as legal currency transaction there.
Not have to worry with bitcoin regulation in El Savador because Nayib Bukele one step closer become the election winner and he will defend his position as president.

Actually the achieving by Nayib Bukele not only success made bitcoin as legal payment currency transaction but also he had success reduce the criminal case in his country.

Some times it is difficult to get some feet on the ground perspectives, which sometimes is needed.

In this hour-long interview on the Stephan Livera show, Mike Peterson (that just came out today) describes that he believes that the benefits are ongoing and sometimes not direct.. and also it is his belief that network effects can take time to continue to build.. including mentioning some obstacles along the way. 

In social network Nayib Bukele told that the purchase made by El Salvador has generated huge profits so they do not currently expect to sell the digital asset as this is a long-term strategy.

Information of nayibtracker.com, El Salvador holds 2,762 bitcoin, with an average price of $42,433.42 and a current market value of over $115 million. The break-even bitcoin price for the El Salvador portfolio is over $42,500 per BTC. This average in December-2023.

According to Government data the price of bitcoin is fluctuating it has show an upward trend since it was created its value has increased 1,400 million percent.

Today (02/08/24) bitcoin reached more than $44,801.26.(last write). Now it should be smiling!

That's awesome, they're making it real what other crypto enthusiasts from other countries can only dream of and this is what education should be, learning only what you will use when you get into the real world, probably the best thing that anyone can do, I hope that this will be a success because if it's a success then it's going to be an example of an education that prepares you for real world applications which would make it an interesting thing for other countries to check out.

With this news, Nayib Bukele and government officials in El Salvador are increasingly showing their seriousness in adopting Bitcoin. Because this program really needs to be implemented and studied by the people of El Salvador, especially the younger generation. Because if this is not implemented and taught specifically in El Salvador, perhaps the adoption of bitcoin in El Salvador will be slightly hampered. Because as we know, currently the Bitcoin network often experiences congestion or transaction fees become expensive. So if this is not addressed with the Lightning network, perhaps the use of bitcoin in El Salvador will be hampered by this factor (network congestion). So this learning plan about Lightning nodes is something that must be done in El Salvador.

And the planned implementation time of 12 months may be sufficient. But don't forget, previously the El Salvador government implemented a Lightning node learning system in schools or universities. The government must be able to encourage the younger generation to study at a higher level (beyond elementary school). Because from the news that I know in El Salvador, compulsory education is only in elementary school. However, for secondary schools and universities, there are still many who do not continue.

Source: https://www.sridianti.com/soal/apakah-sekolah-wajib-di-el-salvador.html

So, for example, if currently this has not been optimally improved by the government in El Salvador, perhaps the application of learning about Lightning nodes will not be spread optimally to all the young generation there. Because the problem is that there are still many young people who have not or have not continued their education. So at this point, this is an important point that Nayib Bukele must definitely complete very well. Because these factor will certainly be important to realize his dream of adopting bitcoin very well in El Salvador.