Replying to Avatar Phundamentals

El Salvador is making a disappointing move by allowing the IMF to dictate terms on their sovereignty for a loan they say they don’t need. But let’s have a little perspective

1. Bukele can’t stay in office forever - democracies with term limits are not good structures for long term Bitcoin projects that need decision continuity for decades

2. El Salvador shot for the moon. Just because they missed doesn’t make them shit. They are an inspiration for being so unreasonable and they gave a lot of people hope.

3. The fact to face is that the IMF is undefeated and will remain so. No nation can truly resist the corruption of Fiat money. It’s just a statement of how early we still are
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JackTheMimic 1y ago

Am I missing where the IMF said bukele couldn't buy BTC with the loan? No taxes on BTC, the popular app will no longer be govt controlled, the government has more restrictions on how THEY spend their BTC, BTC use is voluntary now, I am trying to see the bummer here. Maybe I missed it.

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Phundamentals 1y ago

They made them close down the Chivo wallet, among other requirements. - I know that wasn’t a great solution but it was how they gave all their citizens access.

The IMF paid them to shut down their Bitcoin ambitions - it’s irrelevant to me if they go ahead and buy Bitcoin with that money

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JackTheMimic 1y ago

Upon my reading, it says they unwind their involvement with chivo. It still exists. It just can't be run by the government.