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    Author Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻  (Read 52695 times)
    JayJuanGee
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    May 14, 2022, 08:36:48 PM
    Merited by Odusko (1), _act_ (1)
     #541

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    Bitcoin falled from $69000 to $30700 and El Salvador bought another amount of bitcoin, isn't that good enough, that is wise enough and a good investment strategy. Or you want El Salvador to sell at $30000? If bitcoin still fall, do not be surprised if El Salvador buy more bitcoin.

    You are talking about a country who is struggling economically and has a huge public debt and then to invest money in a highly volatile market which lost 50 to 60% in valuations will benefit the country. If you are talking about a stable economy then the long term vision is a strong point but not for a country like El Salvador who is having a huge debt deficit.

    So you (7788bitcoin) are a better expert than the President of that country regarding what El Salvador should do in terms of its budgetary trade-offs? 

    Furthermore, what would make you presume that Bukele is acting beyond what he has determined to be in the better interest of his country?

    Do you believe he is rogue in his actions? 

    Have you considered whether Bukele might have support for what he did and what he is doing in regards to bitcoin policies that were implemented and his various buying of bitcoin directly? 

    Sure we are talking about (and focusing on) bitcoin here, but doesn't governing involve making assessments and balancing of a variety of concerns too?  Some matters would be within the discretion of the president and other matters require consulting and/or approval of other governing bodies, and perhaps other matters require getting feedback from constituents.

    In essence, how would you (7788bitcoin) know that you are in a better position to judge the various balances that are being considered and made in bitcoin as compared with what Bukele is doing or what the country is doing?  What if the country wants bitcoin, then should he just ignore it?  Or you just automatically presume that bitcoin is not a good option because of the seemingly lame reason that you provided above, including it's too poor to buy bitcoin?  or it bought too much?  It's like you see that someone bought bitcoin, but you presume all of their circumstances when making an assessment that they made the wrong choice, right?


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