Bukele: Bitcoin Hasn’t Had the Widespread Adoption We Hoped For

[Stompix]

Someone can say whatever they want, but investors go where they feel safe in the long term, and Bukele allegedly claims that this is his last term in the presidential chair, and the logical question is what will happen when he leaves?

Everyone can say whatever they want, they can lie and they can tell the truth, it's their choice!
What pisses me off is that some believe the guy just because it aligns with his interest!

Bukele, like many (if not all) other politicians, says and promises many things, but then delivers very few or none of those things, that's something that shouldn't surprise anyone, since we're not 10 years old. It is likely that even buying many more Bitcoins than "the country has now" things will remain the same as before. Bukele is looking for investors to project everything he says (Bitcoin city, Bicoin bonds) and thus attract more capital.

Well, the first we should do is make everyone understand that he is buying Bitcoin with government money, he is putting ATMs in towns with government money, transactions so are subsidized by government money, and he has made state secret all about what he has spent and who he has hired and paid for this but also he hasn't at least once told us how he does with his personal finance!
What if he would have failed? He would just move along!

He is using both Bitcoin and the money of the country as a PR show and people have tuned him into some kind of Jesus!

[dkbit98]

So it's not surprising at all to see heads of states doing it, especially the ones who are leading a very, let's say, "radical" change.

I don't trust him or any other president and politician today.
Bukele is just a part of the circus how, now he is going to talk with Elon Musk because they are all in the same ''club''.
I am seriously starting to think they are only using Bitcoin as one of their tools to manipulate markets and make more money.
It’s a big club and you ain’t in it 

[Freemind]

I don't trust him or any other president and politician today.
Bukele is just a part of the circus how, now he is going to talk with Elon Musk because they are all in the same ''club''.
I am seriously starting to think they are only using Bitcoin as one of their tools to manipulate markets and make more money.
It’s a big club and you ain’t in it 

Bukele, like Musk, are some of those who pull the strings from above, at the other extreme are the puppets, which are the millions of people who follow them, applaud them and idolize them, whatever they say, and do whatever they do. Some consider them geniuses and others even consider them gods. The reality, however, is different. They are simply manipulators with a lot of power who try to get the rest of us to do what they want when they want.

Every time I see one of them (and others) this song comes to mind :

[Lucius]

It is hard to rule a country.
Lots of reasons why.
Gangs exist in rich countries.

USA is filled with gangs. The government has issues keeping them in check.

poor countries are worse off.

I feel that a poor country wiuld be better off with a cheaper coin than btc.

realistically what does a person in a poor part of san salvador earn?


https://www.statista.com/statistics/1070121/gross-national-income-per-capita-el-salvador/

above says 4900 usd a person.

they are more likely willing to use a cheap coin not btc.

the move was not done-to help the bottom 90% of the people.

Do you think that Doge or another altcoin would change something in this regard? I am sure that this would not be the case, because the problem is not the price of BTC itself or the price of transactions, but rather the problem is imposing something on people without them actually wanting it.

The history of governance in that part of the world has always focused on dictators and corrupting regimes that have never asked the people for anything, and I wonder if anyone has asked the people of El Salvador if they want to give up their national currency and accept the US dollar? Admittedly, that was 20+ years ago and it's not something to do with Bukele, but it has to do with the mentality of politicians.

I would conclude that people in El Salvador are only behaving defiantly in relation to the government and the president, who impose something on them that they obviously do not want, and literally send the message "if you want BTC, take it, we don't need it".

[philipma1957]

It is hard to rule a country.
Lots of reasons why.
Gangs exist in rich countries.

USA is filled with gangs. The government has issues keeping them in check.

poor countries are worse off.

I feel that a poor country wiuld be better off with a cheaper coin than btc.

realistically what does a person in a poor part of san salvador earn?


https://www.statista.com/statistics/1070121/gross-national-income-per-capita-el-salvador/

above says 4900 usd a person.

they are more likely willing to use a cheap coin not btc.

the move was not done-to help the bottom 90% of the people.

Do you think that Doge or another altcoin would change something in this regard? I am sure that this would not be the case, because the problem is not the price of BTC itself or the price of transactions, but rather the problem is imposing something on people without them actually wanting it.

The history of governance in that part of the world has always focused on dictators and corrupting regimes that have never asked the people for anything, and I wonder if anyone has asked the people of El Salvador if they want to give up their national currency and accept the US dollar? Admittedly, that was 20+ years ago and it's not something to do with Bukele, but it has to do with the mentality of politicians.

I would conclude that people in El Salvador are only behaving defiantly in relation to the government and the president, who impose something on them that they obviously do not want, and literally send the message "if you want BTC, take it, we don't need it".

the people want a coin or dollar or unit of value they can afford that does not dump via inflation.

so dollar unpredictable inflation
btc lets face it great to hodl as investment ue to scarcity
doge lets face it not rare but very predictable controlled descending rate of inflation

for a guy or girl making 4900 usd a year btc does not cut it as they can not hodl it.

so dollar vs doge vs https://en.wikipedia.org/wiki/Salvadoran_colon

colon which was switched to the dollar in 2001

my guess is maybe they would have wanted the dollar or doge but not btc or the colon

I further guess that he talks with musk now because they may fold in doge.

[Lucius]

~snip~
I further guess that he talks with musk now because they may fold in doge.

Do you think something like that has any chance of happening? I mean, if the average person in El Salvador did not accept BTC, would it be realistic to expect them to accept something like Doge?

It seems to me that the two do not talk about these things, but that Mr. Mars only sympathizes with Bukele for obvious reasons - they are of similar minds even though they are in different positions.

[philipma1957]

~snip~
I further guess that he talks with musk now because they may fold in doge.

Do you think something like that has any chance of happening? I mean, if the average person in El Salvador did not accept BTC, would it be realistic to expect them to accept something like Doge?

It seems to me that the two do not talk about these things, but that Mr. Mars only sympathizes with Bukele for obvious reasons - they are of similar minds even though they are in different positions.

Will since the average income is 4900 usd a year.

and doge is like 12 cents it has to be more available to all those low income people.

It is very hard to predict what large groups of people will do.  But to take a flyer with 1000 usd in btc when more and more btc seems to be hodl hodl hodl really appears to me to be out of reach for most of El Salvadors people.

To use 20 or 30 Usd worth of doge vs 20 or 30 worth of btc seems like what poor people would do.

They may also grab the doge to get usd which I think they would prefer.

[Aanuoluwatofunmi]

El-Salvador started well and continue in this same tempo for more success, but one thing we may have to understand and learn from them is the mentality of striving more for excellence, because they are never relenting and all they keep doing is to strive more for excellence, because they understands what is ahead of them, they are not ready to settle for less before another country come up and take over from them, they were therefore making more efforts to see that bitcoin has gotten to the final destination of being well recognized in their country.

[Rami]

Absolutely! It’s like trying to buy coffee with a stock certificate—great for holding, but not so practical for daily purchases! ☕📈 Maybe we should just stick to using Bitcoin for big purchases and keep the coffee runs in good old fiat. After all, no one wants to risk their morning brew turning into a luxury item overnight!

[Stompix]

El-Salvador started well and continue in this same tempo for more success, but one thing we may have to understand and learn from them is the mentality of striving more for excellence, because they are never relenting and all they keep doing is to strive more for excellence, because they understands what is ahead of them, they are not ready to settle for less before another country come up and take over from them, they were therefore making more efforts to see that bitcoin has gotten to the final destination of being well recognized in their country.

Strive for more excellence?
Bruh, hey are buying coins, that's all, spare me the excellence"!
Never relenting, lol, you're talking like they are on the verge of shitting gold through alchemy!
Send them a congratulating letter, I'm sure most people in Salvador are unaware of their achievement!

[KingsDen]

Bukele: Bitcoin Hasn’t Had the Widespread Adoption We Hoped For

Beyond the spheres of El Salvador, I believe bitcoin is doing very well. I am not sure that there's any other technology whose vision oppose that of the government that has made progress like bitcoin in a short period of time. In the years past, activity like ETF was most us of thought would never happen, but today it has happened and yet we have seen it as something normal. Bitcoin might not be as fast as we want but it is moving.

In El Salvador, I'll say that the government rushed things in the beginning. They would have invested more on sensitisation before full adoption because humans can resist what they do not understand.

[Baofeng]

Bukele: Bitcoin Hasn’t Had the Widespread Adoption We Hoped For

Beyond the spheres of El Salvador, I believe bitcoin is doing very well. I am not sure that there's any other technology whose vision oppose that of the government that has made progress like bitcoin in a short period of time. In the years past, activity like ETF was most us of thought would never happen, but today it has happened and yet we have seen it as something normal. Bitcoin might not be as fast as we want but it is moving.

In El Salvador, I'll say that the government rushed things in the beginning. They would have invested more on sensitisation before full adoption because humans can resist what they do not understand.

I might have to agree that Bukele rush it for his people to adopt or used it at this time, however during that time, Bitcoin is already global and perhaps many El Salvadorian are already into it and so that is a ++ for them, but not for the whole population.

Regardless, Bukele will definitely go and continue and preach Bitcoin in his country. And outside, we are slowly getting adopted as well, so still a win-win for us. Bukele might need to be in power though, so it's just a matter of time before him no longer the President, but still Bitcoin thriving or him the President but Bitcoin is not adopted in his country.

[Freemind]

I might have to agree that Bukele rush it for his people to adopt or used it at this time, however during that time, Bitcoin is already global and perhaps many El Salvadorian are already into it and so that is a ++ for them, but not for the whole population.

Regardless, Bukele will definitely go and continue and preach Bitcoin in his country. And outside, we are slowly getting adopted as well, so still a win-win for us. Bukele might need to be in power though, so it's just a matter of time before him no longer the President, but still Bitcoin thriving or him the President but Bitcoin is not adopted in his country.

When people do not have basic things like education, health or security (we already know what El Salvador was like until recently) it is difficult to take another step. I mean that Bukele has tried to make the country run before it could walk safely, and I am not referring to security in the streets, but in the technological section. It is okay to adopt "new" technologies, it is okay to want a country to grow economically and advance, but to be able to achieve all this you have to start from the roots, not from the branches, the weakest parts of a tree.

[KingsDen]

Regardless, Bukele will definitely go and continue and preach Bitcoin in his country. And outside, we are slowly getting adopted as well, so still a win-win for us.

There's an additional stress convincing someone who was misinformed about bitcoin the second time, especially if they lose money. This is the reason many people have become adamant to bitcoin investment no matter how successful it is. That is why it is so important to give a newbie a very first hand information before they are misinformed.
I heard that some of the El Salvador citizens actually did protest against Bukele's bitcoin decision then. If this is true and the protest not politically motivated, it will be difficult to re-orient them than catching them first hand.

[Freemind]

There's an additional stress convincing someone who was misinformed about bitcoin the second time, especially if they lose money. This is the reason many people have become adamant to bitcoin investment no matter how successful it is. That is why it is so important to give a newbie a very first hand information before they are misinformed.
I heard that some of the El Salvador citizens actually did protest against Bukele's bitcoin decision then. If this is true and the protest not politically motivated, it will be difficult to re-orient them than catching them first hand.

When something is imposed by force (Bukele has great popularity and support from the majority of the population of El Salvador) it is very difficult to change the minds of those who impose the laws and regulations. I think that President Bukele's idea of ​​using Bitcoin for the country could have been much better accepted by the population in a few years, when the economy grew on its own and the population sufficiently improved its quality of life. For this reason (and other things) citizens are against Bitcoin, but that decision is not going to change on Bukele's part.