Government $100M Trust Fund in a government owned development bank to allow anyone to convert to US $ without btc volatility risk
Lightning Network
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El Salvador hopes to becomes the world’s first country to adopt bitcoin as legal tender
- Thread starter johnarb
- Start date
Government $100M Trust Fund in a government owned development bank to allow anyone to convert to US $ without btc volatility risk
Lightning Network
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Yeah, you still didn't explain why they wouldn't use:
1. A stable coin.
2. Their own stable coin, that they can control and tie to whatever they want to.
3. An actually working crypto.
Either one is a better choice than BTC. El Presidente of Tropico island chose Tropicoin, a stable coin tied to the EU.
https://tropico.fandom.com/wiki/El_Presidente
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Your opinions do not matter. You hate btc because you missed out, that is your personal problem that you will never resolve
The President of El Salvador proposed it and it was voted in last night. End of story
China loans to get that geothermal mining on china made bitmain equipment?
I'm pretty familiar with El Salvador's electrical grid, this is my business and I've done some work in an adjacent country. I'm not at all familiar with where this "wasted 644 MW" of geothermal energy is unless they're saying it's heat in the ground that hasn't yet been exploited by drilling the wells and building a geothermal plant? I mean it's gotta be because there is only about 150 MW of geothermal in existence there. If that's it, then refer to my previous 5 year timeline to actually plan, finance, and build a geothermal plant. Also, if they're using that logic, there is also a few GW of "wasted" solar and wind energy there as well.
And while we're at it, the country has about 675 MW of fossil fuel generation fueled by pretty expensive imported LNG. Why in the world would you continue to import LNG to power those while simultaneously using about the same amount for BTC mining? From an opportunity cost perspective, that's the same as mining for bitcoin with imported LNG generated power. Doesn't make any sense from a economic or development perspective.
I think it's vital you take your own advice, "you dont represent the planet." You've fallen into the very trap you warn of in assuming everyone has the same level of education, sophistication, and access to internet and hardware you do. Your average 40 year old mom in El Salvador isn't even close to being in a position to understand and use BTC that comes from her son in the U.S. That's not being condescending, that's reality. Heck even my mom with a college degree is a good deal away from being able to use it and lightyears away from being willing to learn. Once you take the time to provide them everything they need to use BTC, you could have just as easily provided them everything they needed to use Transferwise or any of the dozen other services that operate at far below 7%. The 7% number is born of ignorance and lack of access. If you take the time and effort to fix both of those, you no longer need BTC. And if you don't take the time and effort to fix both of those, they can't use BTC.
I don't doubt that you "will take free over this any day, especially with no BTC risk", but they're not you. You seem to have forgotten this despite your own warnings. Highly recommend you take a trip down there, hit the neighborhoods where the vast majority of people live, and pick 10 random people to explain BTC to and let us know how it goes.