"Central banks are increasingly taking actions that may cause harm to the economic stability of El Salvador; That in order to mitigate the negative impact from central banks, it becomes necessary to authorize the circulation of a digital currency with a supply that cannot be controlled by any central bank and is only altered in accord with objective and calculable criteria;"
Watch the last 25 minutes in this link. Maybe this Jack Mallers kid is kinda smart. And maybe everyone talking about the global impact of btc isn't some silicon valley tech bro
el salvadors leader is interesting, strong authoritarian tendencies, ignoring most the institutions in the country, but is a millenial who "acts cool" so plays the press to his advantage
Lol. Authoritarian leaders typically adopt currency policies that don't allow them to inflate the money supply....wait that's not right. Care to speak to the people in the country actually using btc?
I'd love to hear the logic behind someone with authoritarian tendencies wanting to use btc as legal tender.
i mean i get you're trying to drag the conversation elsewhere out of defensiveness but are you denying he has shown desires and behaviors of an authoritarian?
he'll definitely get breathless positive coverage from many sectors of the globe, add more fuel to his current PR campaign around his image, etc
Just your standard poo pooing of everything related to btc. Carry on doing whatever you're doing. This isn't the "is El Salvador's president maybe an authoritarian who acts cool to play to the media" thread.
contextualizing an event which you posted rapidly in succession about, explicitly about the leader, is absolutely the right thread to figure out if it's an overall positive thing for the crypto space and the state of the country its happening in
https://www.washingtonpost.com/poli...p-watch-creeping-corruption-authoritarianism/ for people who care
I generally assume theres an ulterior motive to actions of any world leader, el salvador isn't special.
When you figure out why Strike is the #1 app in the entire country, maybe you'll figure out if it's a "positive thing" for the country. I won't hold my breath.
20,000 people per day in El Salvador are signing up to use Strike. 22% of the gdp is remittances, which can have fees of 50%. The country will make btc legal tender.
I also figured that post-Trump we maybe would’ve been past the point of trashing other country’s leaders for semi-authoritarian actions. Guess not.
What does this even mean? Trump sucked so we can't say other leaders suck? Your incessant need to to shill BTC, even if it means defending Bukele, is gross.
Dbl, I ignore you and have for months now. Stop following me around like a puppy dog. I don't, and never will, give a shit what you have to say. Lyrtch carry on with semi-authoritarian comments while 20,000 people in a country sign up for an app per day in a country where 70% of the people are unbanked, and 20+% of the GDP is remittances. BuT WhAt AbOuT ThE PrEsIdEnT & TeCh BrOs!! No one fucking cares dude.
its mind boggling how much this is shared on twitter right now on every single post on this topic, the talking points get spread with a quickness also yeah, i think the crypto space might evaluate how something they think is going to change the world for the better will be used by a corrupt regime when one of the things people are concerned about how smooth it makes participating in crimes. it will allow a regime that already has accepted illegal financial activities as good https://insightcrime.org/news/brief/money-launderers-bank-accounts-el-salvador/ to grease the wheels even more, when the government buys a bunch of bitcoin and then welp can't find it anymore, or he continues to murder political enemies the global community will have no path for sanctions on the corrupt officials, on and on. people should talk about it, or the sidestepping of critiques will be confirmed for what it always was, nonsense defenses for people thinking they're going to win the lottery.
Ahahahahaahahaha Pause to catch my breath.... Seriously??? Btc use for crimes is what you came up with???? And your example is El Salvador bought a bunch and "welp can't find it anymore"????? That is how you think btc works? Whatever learning path you've been on for this space, I think you should probably start over. Not to mention there isn't a damn thing stopping their president from using btc right now. A legal tender law doesn't change that. I sure hope the president doesn't figure out how to use US dollars for crimes too, and then welp can't find dollars anymore. These are definitely concerns of a serious person. You also fail to understand that the btc monetary network enables all of these people to use remittances and hold US dollars while not having to hold btc at all. Chalk that up as another completely ignorant comment on your part.
the degree to which you are unable to engage at all is troubling hope you're doing alright in general
The degree to which you pretend to know everything about everything but are so clearly out of your depth is troubling. "Crimes!" and "welp can't find it" are just flat out stupid, especially for a country currently operating on something far less traceable (you'll figure this out I think). Do better. And your coping mechanism of pretending to think I'm doing anything besides calling you a moron on the internet is bizarre.
Because you're constantly wrong, here's the head of NYDIG talking about all of the El Salvador stuff (with the same stats) about Strike weeks ago. Not talking points that just started today. You should probably watch the whole thing, but 46 minute mark to save you some time.
El Salvador has a massive remittances problem. The btc monetary network fixes that problem for a shitload of people. Fixing that problem does not require any of those people to even hold btc. My post spells that out for you, setting aside your joke of a "lottery" comment. The "btc is for crimes" talking point has been around since like Silk Road in 2013. I was apparently mistaken in thinking we had moved past that. Here's a report from a former CIA director addressing bitcoin's use for illicit activity. Maybe you'll read it: https://www.thecipherbrief.com/report-an-analysis-of-bitcoins-use-in-illicit-finance
I understand the third world country use thing fine. I watched the section of the video you mentioned, it doesn't address remotely what my point is. Also the way the guy reads his talking points off a sheet of paper is unsettling. Will read this thing in a minute. You've just sidestepped completely my point that autocrats being early adopters can go bad when imo bitcoin is still largely fighting a pr battle. You seem to think there's no problems there which cool, we can disagree there. No one has dissuaded me that losing the pr battle and the global political system viewing it as bad and going after it is the biggest downside risk.
i'll read this thing but man a consulting firm being hired by crypto people to do this report is a flashing red sign, notwithstanding the pro bitcoin framing throughout the entire introduction
We must be watching different videos if you think Stevens is reading off a sheet of paper, but yes he does have notes. Your point was that these are some new talking points to justify El Salvador's use/embrace of btc. Mallers, Strike, Stevens, and plenty of others have been talking about it publicly for weeks. So your point is wrong. And also, who gives a shit? They're still facts. Is the problem that they're solving somehow less important because there are the facts associated with it? For years, the early adopting countries have been speculated to be sanctioned countries, small forward-thinking countries, or countries with collapsing currencies because they can move quicker and/or are more incentivized to do so. El Salvador doesn't even fall into the sanctioned bucket. Iran has a decent amount of hash power and is likely accumulating. China has a ton of hash power (but btc has always clashed with their ideals). There are 2017 articles speculating that it'd be Venezuela or Argentina. I expect the global central banking system to go after btc. I just don't think it will ultimately matter. I think the countries that matter (i.e., the US) will regulate it but not ban it.
He's a former CIA director who consulted with these people: "We interviewed executives from major blockchain analytics firms, former senior Treasury Department officials, a senior official from the Commodity Futures Trading Commission (CFTC), and a former CIA intelligence analyst, as well as academics, venture capital investors, former federal prosecutors, and a former leader in the banking industry. We also consulted studies from the U.S. Department of Justice; the Financial Crimes Enforcement Network (FinCEN); the Financial Action Task Force (FATF); major blockchain analytics firms; the Brookings Institution; RAND Corporation; BAE Systems; and the Foundation for the Defense of Democracies. Sigal Mandelker, a former Acting Deputy Secretary of the Treasury and Under Secretary of the Treasury for Terrorism and Financial Intelligence, as well as former Department of Justice official and prosecutor, gave us a significant amount of her time to tap into her wealth of experience on the issue." Some of you have a hilarious view of literally anyone who writes a pro-btc article. Also this: "I began this work expecting that I would find a set of facts supporting the conventional wisdom on this issue. After all, I believed that Bitcoin and other cryptocurrencies are a largely anonymous way to transfer funds anywhere in the world nearly instantaneously. And I assumed that those officials who have raised concerns about the use of Bitcoin in illicit activity—with the objective of ensuring regulatory vigilance—must be among the best-informed experts on this issue. However, based on our research and discussions with industry experts, I have confidence in two conclusions: The broad generalizations about the use of Bitcoin in illicit finance are significantly overstated. The blockchain ledger on which Bitcoin transactions are recorded is an underutilized forensic tool that can be used more widely by law enforcement and the intelligence community to identify and disrupt illicit activities. Put simply, blockchain analysis is a highly effective crime fighting and intelligence gathering tool."
to be clear you'd have the same reaction if I sent you a consulting firm analysis paid for by goldman sachs if it clashed with what you thought lets not get silly here, i'll be skeptical of anything produced this way
One small step for man, one giant leap for mankind. Pack it up boys, our time here is done, we new money now (per UCC)