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Protests in El Salvador after bitcoin made official currency

Protests in El Salvador after bitcoin made official currency



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13 Comments

  1. Most people don’t even know why they are there, there are always groups who are willing go create chaos just so paid journalists can take pictures. Google Nayib Bukele, every single news is protraying this to be a huge protest when in reality it’s not. Did you guys think people agaisnt Bitcoin in El Salvador is the common salvadoran, no, it’ people with power, people who are able to pay for things to happen.

  2. How is it “ignorant and authoritarian” for El Salvador to include Bitcoin as legal tender?

    If El Salvador had purchased 400 coins it should have pushed the price up, not down. What pushed the price down was a whale who sold about 30k coins at $50k for $1.5 billion.

    The vast majority of poverty in the world is caused, not by the lack of employment but, by the lack of opportunity for self-employment. Too many businesses are protected from competition by everything from patents and copyrights to geographic exclusivity to zoning laws and local ordinances that prohibit individuals from doing anything to earn a buck on the street. No lemonade stands, no selling oranges or flowers on the side of the road, no shining shoes or washing windows. No operating without a license. This is how socialism spreads. They blame capitalism for the consequences of protectionism. That’s what’s ignorant and authoritarian.

  3. What is the argument of the protestors? I’ve read a few articles but I am not getting a clear message.

    Whether this claim is true or not, it isn’t a good argument: “critics say that adopting bitcoin is a flashy ploy by Bukele’s party to distract from the country’s severe economic issues. “

    Perhaps, is this a case where they simply fear change? (Or is there a legitimate claim like crypto’s volatility? Potential devaluation of their existing assets? Crypto extortions by politicians?).

    Can anyone knowledgeable sum it up?

What do you think?

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