"El Salvador secures $3.5 billion IMF financing package after agreeing to make accepting #Bitcoin voluntary and unwind its Chivo wallet."
Politicians never disappoint, great Bukele kowtowing to the IMF hit men.
Discussion
Simping for a politician always leads to crap like this. No wonder El Salvador has sold its ass to the IMF as soon as the opportunity was there. Politicians doing politicians things.
It's part of the lack of adversarial thinking that developed over the years. Most Bitcoiners are not prepared for the kind of lies and deception by the state anymore. They were 2009-2012!
By the way. This is how Monero and Bitcoin community differ. Monero adversarial thinking is sometimes through the roof, but it also means the necessary means of defense are built to resist.
The revolution is dead before it even started.
They basically dictate to make Bitcoin just another tool of oppression.
This is not how winning looks like. This is the golden cage far too many "Bitcoiners" accept these days. Fiat money (if didn't get sober) is just like any other drug.
The outcome is better. Bitcoin shouldn't be forced on anyone, and the Chivo wallet was a state run custodian.
Playing this as a backdown is political brilliance.
Well, he gonna sit on $3.5B.
I know what would I do with this amount of $.
It starts with B and ends with ITCOIN.
✌️
So Bitcoin is still legal tender, untaxed and people encouraged to use non-government Bitcoin wallets.. Sounds terrible..
Una moneda con la que no puedes liquidar impuestos de facto no es una moneda de curso legal, además el acuerdo le limita drasticamente toda actividad relacionada con bitcoin, ¿te parece poca traición?
Sad but true. This may be one step back two steps forward in the long run. We’ll see.
Hope, the money gets saylored
I know Bukele was disappointed with the uptake of bitcoin in the community. And to be honest, usability as a day to day currency is just not there. Maybe he has scaled back his bitcoin ambitions.
This is indeed very disapointing. I was concerned when bukele accepted funds from the Chinese, and his the agreements with China behind a legal firewall for 25 years... And now this.
I get that he is doing what he thinks is best for his country... Likely he is disappointed with the btc uptale, the number of people who paid 1million for a passport, etc.
Maybe max and Stacy overpromised and underdwlivered.
Idk. I wouldn't read too much into it. He's for his people. He's not just for Bitcoin, and it didn't get the wide spread adoption that he hoped.
They just stumbled upon one of the largest gold veins ever discovered. We don't know what he plans on doing with that money, but the timing is interesting to me. He needs the equipment to set up the mining operation and now no longer needs to use or convert any of his nation's Bitcoin. He's practical, so I'm willing to bet that's where the money will go.
I think it's fine.
Will he comply, or will he buy ₿itcoin with it ?