El Salvador BTC City At Base of Conchagua Volcano

[Overnight]

You have to expand your horizon. The printing of fiat currencies is not only happening in the US (but the risk is not 0% in the US)

Look to Lebanon, Venezuela, Turkey, Afghanistan, Argentina, Gaza/West Bank and how the ones that own Bitcoin and cryptos have been able to survive

kazakhstan is crazy right now, but no internet there so the ones who own cryptos have to make sure to bring their usb or memorize or email to themselves the private keys

The whole world is probably bankrupt now, pushed there by Covid, so who knows what the future will be

Everyone should buy Bitcoin or cryptos as insurance, but whatever, everyone has to decide on their own...

What is the bitcoin valued in, in those countries?

 

[nooby_mcnoob]

Again, I ask the crypto folks here...The FACK the BTC has anything to do with the government?

It seems to me that the whole idea of blockchain being some separate thing from the government and fiat has unraveled fairly quickly. You cannot have one without the other.

Bitcoin is stupid, but the whole idea of crypto is not. As I said, I am expecting a massive crypto winter and something will come out of it that will sustain.

 

[deaddog]

Everyone should buy Bitcoin or cryptos as insurance, but whatever, everyone has to decide on their own

If you don't buy bitcoin, which crypto? I'm led to believe there are between 6 to 8 thousand now available. Where the hell did they all come from. Isn't this like the government printing money?

For the last little while cryptos have been losing value compared to fiat. Is this because there are so many being printed/mined/or pulled out of the air.

 

[Overnight]

Bitcoin is stupid, but the whole idea of crypto is not. As I said, I am expecting a massive crypto winter and something will come out of it that will sustain.

A crypto winter. Really. Man, you know how to pull on my button-chains.

 

[johnarb]

What is the bitcoin valued in, in those countries?

You're going in a different direction, but let's walk through it

Bitcoin's value is universal

Let's say Turkey Lira was 1 Lira to $1 and now 13 Lira to $1 in ten years

1 Btc would now be worth 546,000 Lira

US $ purchasing power remained strong and Bitcoin purchasing power increased


Why is it so difficult for you to understand the concept of store of value?


Gold has been a weak store of value but it would have done ok versus holding Lira or any of those failed fiat currencies

 

[johnarb]

If you don't buy bitcoin, which crypto? I'm led to believe there are between 6 to 8 thousand now available. Where the hell did they all come from. Isn't this like the government printing money?

For the last little while cryptos have been losing value compared to fiat. Is this because there are so many being printed/mined/or pulled out of the air.

Over 10,000 crypto assets nowadays

 

[Overnight]

...

Bitcoin's value is universal

Let's say Turkey Lira was 1 Lira to $1 and now 13 Lira to $1 in ten years

1 Btc would now be worth 546,000 Lira

US $ purchasing power remained strong and Bitcoin purchasing power increased


Why is it so difficult for you to understand the concept of store of value?...

The BTC is not a universal value, because it must be compared to fiat. You just said it yourself in that post.

The BTC has no value unless it is equated to fiat.

Let's say the 1 BTC is equal to 1 Lira. How does that work? How many BTC do I need to buy a loaf of bread in Turkey? How many Lira is needed to buy a loaf of bread in Turkey, RIGHT NOW. Or even better, a gallon of gas? How many BTC do I need? Well, if it is same as Lira, then I guess it is cheap!

 

[johnarb]

The BTC is not a universal value, because it must be compared to fiat. You just said it yourself in that post.

Let's say the 1 BTC is equal to 1 Lira. How does that work? How many BTC do I need to buy a loaf of bread in Turkey?

Brother, 1 btc is not equal to 1 Lira

If you want to sell me 1 btc for 1 Lira, I'll take as many as you can supply

 

[Overnight]

Brother, 1 btc is not equal to 1 Lira

If you want to sell me 1 btc for 1 Lira, I'll take as many as you can supply

Why don't you want to sell me 1 Lira for 1 BTC? What is the problem? What is the difference?

 

[VicBee]

"El Salvador is the fifth poorest country in North America with a per capita GDP of $4,131. El Salvador has a small elite population that became wealthy through the country's coffee and sugar production. On the other hand, about 40% of the population falls below the poverty line." -- from worldpopulationreview

From the World Bank:
El Salvador ranks 124th among 189 countries in the Human Development Index.[28] Despite high rates of poverty and gang-related violent crime, El Salvador has the second-highest level of income equality in Latin America.[29]

Poor Americas