“Bitcoin” president re-elected. Victory for Nayib Bukele.

[trendcoin]

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And, speaking as an outsider, don't you think that at some point you need to elect somebody does does something else about the country also? Because I certainly doubt everyone there is enjoying the race on inflation with Argentina like a football match. You know, something like when Churchill lost in '45, he was the hero of the war, but the war was over, it was time for something else by someone else!

Moreover, despite the inflation, on July 15, 2016, the Turkish nation stood up to the coup plotters by putting their bodies in front of the tanks (https://www.hurriyet.com.tr/gundem/tankin-onune-yatan-adam-konustu-40152469). Actually, I don't want to fork the topic, but in this way I compare the people of El Salvador and the Turkish people. Such democracy festivals should be an example for the rest of the world. Salute to the people who defended democracy by expelling the pro-east or pro-west coup plotters from their country. If you lived in a country with frequent coups like ours, you would realize that inflation is as worthless as chewing gum that has lost its sweet taste.


Bukele did not stop after accepting Bitcoin as legal currency. He made the necessary arrangements for Bitcoin mining with Volcano energy. He constantly developed projects together with experts. He also has a Bitcoin city project. I have high hopes for this man.

[LogitechMouse]

Well, the country loves him that's why he won.
I don't think that the main reason why he won is because of him making Bitcoin a legal tender. Sure that might affect it as well, but it isn't the main reason.

What will be the effect of this on the whole crypto market? Little to none because TBH, I've seen little to no effect of his decision to make Bitcoin a legal tender to the overall market. Anyway, congratulations to him, and with him getting the majority of the seats, I'm expecting that something that's crypto-related will happen.

Just curious, is there any data that we can see online regarding how much Bitcoin is being used in El Salvador to pay for things? I mean it's a legal tender in that country already right?

[Nwada001]

Maybe but we all know that El Salvador is the first country to adopt Bitcoin as legal tender, so technically it has something to do with it and winning the Presidential race will kept Bitcoin at their country, at least when he is still the sitting President.

The "maybe" shows how uncertain you are, and I will join others in saying Bitcoin being a legal tender based on his role to sign that into law has a very little to zero impact on why he won this election again. When voting for president, they look far above all this before making their choice of voting.
 
If you check after the legalisation of bitcoin in El Salvador, there was a lot of racism against that, as the citizens seemed unprepared for that development, and if you check the number of youth and the number of users who are so interested in bitcoin, you can tell that they alone can't pull the vote to put him back in the presidential seat.
 
His re-election is based on his political power and impact on their society; if they didn't see him offer anything meaningful and valuable, especially to their economy, he could not have seen much support from his people.

[Stompix]

Just curious, is there any data that we can see online regarding how much Bitcoin is being used in El Salvador to pay for things? I mean it's a legal tender in that country already right?

Negligible
https://cryptopotato.com/el-salvadors-bitcoin-adoption-drops-significantly-survey-reveals-a-12-usage-rate-in-2023/

12% of the local population in El Salvador used Bitcoin at least once to pay for goods and services in 2023. This marks a significant decrease from 2022, when the same university reported that 24.4% of Salvadorans had engaged in transactions using Bitcoin.

https://www.cryptotimes.io/2024/01/30/el-salvadors-bitcoin-adoption-delays-as-remittances-decline/

Cryptocurrency payments have sharply declined, with only 1% of remittances made in crypto last year compared to 1.7% in 2022.

If you check after the legalisation of bitcoin in El Salvador, there was a lot of racism against that,

What racism? What does race even have to do with Bitcoin?
Salvadorians aren't even part of a race, they are mostly mestizos.

[Rubel007]

Nayib Bukele was re-elected with approximately 85% of the votes, which in concert earned him the total majority of seats in the assembly. A numerically important victory for a president who for his second term seems to want to continue the path started in terms of Bitcoin integration .

It's hard to find people in the cryptocurrency world who don't know about Nayib Bukele. Especially those who have an idea about Bitcoin, must respect this political figure. His contribution to giving Bitcoin legal tender and increasing awareness among people about Bitcoin in the country is immeSPAM BANble. He has endorsed the use of Bitcoin in his country, giving Bitcoin the highest priority despite criticism. It is difficult to find leaders who truly want to contribute to the development of the country. According to the Nayib Bukele protocol holding Bitcoin was also a valid protocol that is on its way to being implemented today. Bitcoin has already touched 50k. Those who initially did not support Nayib Bukele's purchase of Bitcoin will now applaud him. His country's supporters and Bitcoin thirsters are all awash with joy as he is re-elected.

[ustcoin]

If Bukele wasn't interested in crypto, I wouldn't know him. I wish Bukele success.

I agree that the reason why many bitcoiners are familiar with Bukele and El Salvador is because they are the first and only country to make BTC a legal tender so far. But BTC adoption does not mean success for Bukele, too many people in the country don't use BTC and the reason why he was the election was surely not for BTC, there are more important things in the lives of people in El Salvador and their bad economy that the president has to address.

I totally agree with your opinion. El Salvador is a country with a bad economy and although it has been very well advertised with Bitcoin, I do not think the public uses BTC or other Crypto assets. I think Nayip Bukele should use his worldwide recognition for his country's economy. It should bring foreign investors to its country. I know you like to travel around the country from time to time. During these visits, he needs to invite industrialist investors to his country and improve its economy.

[Captain Corporate]

I mean I am not very well versed in El Salvador politics, so I am not going to argue and say that he is great or he is bad. But I just meant to say that bitcoin was something that did not make him lose, that's the important part. Many people said that he will lose the elections if he makes it legal tender, and dude won with %85, its not about getting more votes thanks to it, its about not losing because of it. We can clearly see that he didn't lose because of it. I can find a million good and a million bad news about him, just like any other politician in the world, important information for us is that he won, while making it legal tender, so we should be happy.

[Z-tight]

I do not think the public uses BTC or other Crypto assets.

No they don't, so many of their citizens downloaded the Chivo wallet, only to receive the $30 bonus that was given to everyone who downloaded the wallet, majority do not use BTC nor understand it.

I think Nayip Bukele should use his worldwide recognition for his country's economy.

What worldwide recognition, he is just the president of a 'poor' country like El Salvador, and by the way El Salvador is a long way from bettering their economy and it is not as easy as you think it is.

[trendcoin]

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I think Nayip Bukele should use his worldwide recognition for his country's economy.

What worldwide recognition, he is just the president of a 'poor' country like El Salvador, and by the way El Salvador is a long way from bettering their economy and it is not as easy as you think it is.

In the past, even the IMF has stopped helping this country. They don't have natural resources. They don't have strong industries that can produce technology. Developing the economy of such a country is certainly one of the most difficult tasks in the world. Nayib Bukele is trying to create an opportunity by opening space for Bitcoin in his country. I don't care if he succeeds or not, he is pushing the envelope and showing everyone how brave he is for his country by doing what no one else dares to do. El Salvador would be in a worse situation than it is now if someone else was in his place.

[Uruhara]

Nayib Bukele was re-elected with approximately 85% of the votes, which in concert earned him the total majority of seats in the assembly. A numerically important victory for a president who for his second term seems to want to continue the path started in terms of Bitcoin integration .

Nayib Bukele won the hearts of the people in El Salvador because he succeeded in eradicating many crimes in that country. If we look at the news a few years ago about the condition of that country, we might even be a little surprised by the crime rate there. But now everything has changed for the better. And after the adoption of bitcoin there, even tourist attractions in the country experienced a fairly rapid increase in visitors which helped generate state income from the tourism sector. But Nayib Bukele still has a long way to go. He has a big desire for the development of bitcoin acceptance in the country.