El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC 'Becomes Unaffordable' With Fiat Currencies, Says President Bukele – Featured Bitcoin News
El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC 'Becomes Unaffordable' With Fiat Currencies, Says President Bukele – Featured Bitcoin News
El Salvador has been buying one bitcoin a day since 2022, and will continue until bitcoin "becomes unaffordable with fiat currencies."
- El Salvador will continue buying 1 Bitcoin daily until it becomes unaffordable with fiat currencies
- President Bukele's statement highlights commitment to cryptocurrency adoption
- Move demonstrates belief in Bitcoin's long-term value and potential as a global currency alternative.
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Imagine your president being a 40yo cryptobro version of Trump. No wonder people are leaving
He's winning against the gangs though - every Salvadorean I know supports him.
Talk to families of unjustified imprisoned people or to the people itself. His 'fixing' was done by basically imprisoning everyone, which just happened to be close to any suspect gang member. There where even cases where a mailman was imprisoned because he just happenend to deliver a parcel during a raid.
Yes, he fixed the gang problem for now. But at a high price – the loss of a fair justice system. He imprisoned 1.2 % of the total population in just 2 years.
I know that freedom vs security is a fine balance and once security suffers significantly, you are willing to give up quiet a lot of freedom. But since he just imprisoned everyone and their relatives, its only a temporary fix – unless he wants to imprison them for life.
I don’t think you understand how completely gangs had effectively taken over El Salvador until recently. Despite the obvious issues that you’ve pointed out, the situation is genuinely miles better than it was before for the vast majority of the population who were simply trying to live their lives.
Thats what I meant with 'if security gets really low, you are willing to sacrifice a lot of freedom'
My major complaint is, that he doesnt have a plan for the time after they will eventually get out of prison.
Considering how strict he is, doubt they're getting out of prison soon.
Wait. There was a plan to release anyone? I thought the guy who invites an armed military observers to the parliament voting session wouldn't bother with that.
Talk to families of unjustified imprisoned people or to the people itself.
Do you actually know & speak to people in El Salvador? Pretty much everyone I know there (family/friends) are ecstatic that there are no more gang members running around unchecked. The country is safer now then it has been in years.
Nothing is perfect of course, poverty is still a major issue, but not having to deal with gang members every time you ride the bus, go out shopping, even just drive around, it's a huge deal over there.
Sure I get what you're saying but for most people there it's been a positive development.
But since he just imprisoned everyone and their relatives, its only a temporary fix – unless he wants to imprison them for life.
True.. to be honest I suspect those people are imprisoned for life. No one expects gang members to be let out of prison while Bukele is still running the country, that's going to be something that gets revisited when/if he's out of office. It's a massive human rights issue but at least for now the majority of Salvadorans consider it a net positive.
The funny thing is that this article is about bitcoin & most Salvadorans don't particularly care about that at all, it's just kind of a headline that isn't going to win/lose Bukele any support in the short term at least.
You seem to underestimate the gang problem. I was in Ilobasco a few years ago and my family that lives there urged me not to go outside past 7pm because I can be a target or even kidnapped. Like wtf why do the gangs get to dictate curfew in 2017? Past nightfall you have to turn the lights off so people in the streets can't peek into your house through the metal guard rails on all the windows. It was eye opening to say the least. Since Nuevas Ideas I have only heard good things and good changes to the area from my family. There were so many people associated to the gangs that I have little sympathy for those 'innocently accused'. I would rather a few loosely incorporated get caught than let the gangs do what they want freely.
Until it's you who get wrongfully put in jail, but I get the point. I think everyone agree it's better now and also they should do everything they can to speed up the release of innocent people.
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Ok boss. Bukele has his speeches in English too
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You must be part of the 1% of trucheros that are against his policies. You guys are so incredibly vocal it's disgusting. There's a reason why Bukele won by a landslide
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screed against so called english speaking American imperialists . written entirely in English
Knowing a language isn't imperialism 'a7ma'a.
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Bro you wanna talk lingophile imperialism while speaking the language of men who have been trying to conquer my people's home for literal thousands of years, it's the puppets that your people put in charge who were so terrible to my kin that they began to chant Badna N3aesh.
Iran literally made Arab Spring dub "I can't breathe" happen, then you come in here like hot shit talkin' about how English speaking Americans are all imperialists while touting the language of the longest still running imperial project in human history.
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Not to mention there's a very obvious racial component of who's probably bearing the brunt of all these arrests even with the policy of "we swear it's only criminals bro trust us bro just let us keep at it bro we're fixing crime bro!"
I hope he does that. Us citizens wouldn't want that criminal lowlife and their families to return to society
Since every Bitcoin transaction is traceable, it makes it easier to see where the money goes...
And also stealable with a single passcode. Which they totally didn't give the president's nephew, no sirree
Bukele and his government is nothing like Trumps. He doesn't want El Salvador to use USD as the standard currency, that's it..
Which is understandable, but I don't understand his plan. If 1 BTC is unaffordable, then people will buy 0.1 BTC. If that's unaffordable, then people will buy 0.01 BTC. And so on. You have to go down to 0.00000001 BTC before the limit is reached (0.000633158 USD at current prices, which is smaller than a mill). Since every zero there is another order of magnitude, I don't see how a small nation state could make even the smallest BTC unit unaffordable. Maybe the G7 banding together could do it.
I have very mixed feelings about Bukele but nobody is leaving because of him. Salvadorian emigration has slowed greatly under him and many people are actually moving back.
Sadly, that's also the exact description of who Canada is most likely to elect as their next leader too. "bitcoin millhouse" we call him.
Tbh we want a Bukele in my south American country. Crime is running rampant
There's no question they've arrested innocent people and the prisoners are being treated poorly, but it's hard to judge when I don't have to deal with drug cartels/gangs and make their monthly salary in a couple days.
Yeah, as long as we don't get jailed without justification, it's good.
It is sad to see people unaware of different conditions in the world. They have this feelings that one set of rules is good for everyone.
I know. Also tfw left and right is different outside of the US lol
You are very correct.
I don't really want someone who is "tough on crime"in Russia, China or Taiwan , but I can understand why people in Haiti would be in favor of it.
For a future in which Bukele unites south America under the banner of zero crime, since our local presidents are just stupid and corrupt and wastes of space.
Politicians have a bad habit of not giving up power. Hopefully, when the time comes, he graciously steps down or works on addressing the rights he had to curtail to do what he's done.