Cryptocurrency is not a savings/investment account. It's a method of payment and now just another tradable commodity. Cryptocurrency is a poor storage of value in itself as I have stated in one of my previous posts in this thread. You want to use it that's fine but one should have an objective recognition of what cryptocurrency is.
Today, McDonalds, Starbucks, Pizza Hut, and others accept bitcoin in El Salvador
- Thread starter johnarb
- Start date
Cryptocurrency is not a savings/investment account. It's a method of payment and now just another tradable commodity. Cryptocurrency is a poor storage of value in itself as I have stated in one of my previous posts in this thread. You want to use it that's fine but one should have an objective recognition of what cryptocurrency is.
You might be correct in theory, but in practice it has been my best store of value since 2017 (and probably in my life), and I consider myself a very late starter on crypto saving.
I traded in and out BTC at 150$, Eth at 16$ before 2017, then started storing some during that year.
Never felt 100% safe, but what does?
Not if you bought them at the peak of March - May of this year. The prices haven't recovered ever since. For those people who bought them at the peak, that's hardly a store of value. So far crypto is really behaving like any other tradable commodity like pork belly. If you don't consider pork belly as a store of value, you shouldn't consider cryptocurrency as one either.
https://capital.com/governor-of-sweden-s-central-bank-warns-bitcoin-could-collapse
""This has the potential to create thousands of jobs, attract investment and make the government transparent," he announced on social media."
It's interesting to note that he believes using untrackable and untraceable crypto like etherum would make the government more transparent. LOL
""This has the potential to create thousands of jobs, attract investment and make the government transparent," he announced on social media."
It's interesting to note that he believes using untrackable and untraceable crypto like etherum would make the government more transparent. LOL
He says, "Private money always collapses sooner or later".
Whereas fiat money is continually collapsing as they make more of it.
update on the El Salvador bitcoin adoption (from the president):
2 new Chivo Facts:
1. People are inserting way more USD (to buy #BTC
) than what they are withdrawing from the Chivo ATMs (any media outlet can independently confirm this by visiting the ATMs).
2. Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).
2 new Chivo Facts:
1. People are inserting way more USD (to buy #BTC
) than what they are withdrawing from the Chivo ATMs (any media outlet can independently confirm this by visiting the ATMs).2. Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).
update on the El Salvador bitcoin adoption (from the president):
2 new Chivo Facts:
1. People are inserting way more USD (to buy #BTC
2. Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).
So the president of El Salvador, a nation, has a twitter avatar of a little kid, and not something that is more important, like the country? Maybe her OWN face?
El Salvador is fucked.
Twitter. The ruin of severity of life. The world is a joke now with all these fuckers on their smartphones. God damned smartphones. Presidents of countries, like El Salvador and the US, are being brought down because their leaders are becoming addicted to "social media". Fucking morons.
After all, Trump announced a world-changing policy move about China trade through fucking Twitter, in the middle of an August afternoon.
The earth is doomed. I am so glad I will not be on this planet much longer.
Yep, we're slowly destroying it with our consumption, waste and pollution. I'm glad I don't have young kids with what's in store for them.
But don't worry, human ingenuity can fix/solve anything.
The president is a millennial and active on social media
We're getting too old for this stuff, but we have ET
Update on what's happening to El Salvadore's bitcoin investment:
https://fortune.com/2022/06/14/how-much-did-el-salvador-invest-in-bitcoin-worth-value/
So far they have already lost 50% of what they invested albeit unrealized. I guess it's a good thing that it's only amounting to 0.X% of the budget. They didn't put everything into it. But they were counting on the BTC making money for them and helping with their finance. I guess that will have to wait.
https://fortune.com/2022/06/14/how-much-did-el-salvador-invest-in-bitcoin-worth-value/
So far they have already lost 50% of what they invested albeit unrealized. I guess it's a good thing that it's only amounting to 0.X% of the budget. They didn't put everything into it. But they were counting on the BTC making money for them and helping with their finance. I guess that will have to wait.