The Infuriating Reality of Using Bitcoin in El Salvador
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- Опубліковано 7 лют 2025
- El Salvador is the first country to declare Bitcoin legal tender, meaning all businesses will need to accept it as a form of payment. Bloomberg's Mike McDonald reports on the country's crypto rollout and President Bukele's plan to build a 'Bitcoin City'.
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What really happens in El Salvador when you settle up with the cabbie, the waiter, and the peanut vendor.
#Bitcoin #ElSalvador #Explained
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I traded well on my demo account but when I invested in to my main account I lost all my funds. Please I need an expert to assist me with my trading. It's frustrating how people loss funds in this trading. I really feel so bad.
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@@wilsonbrown8993 Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?
@@louisclifford9874 Exactly, the trick is to diversify your investment, don't panic when everyone else is and invest consistently.
how much has your bitcoin crashed so far? The government of el Salvador is destroying all those homes to build a "bitcoin" town - that's terrible.
This comment aged like milk....
Infuriating reality?????... These people think with a visit they know more than people who actually live in El Salvador?????..
I'll watch this video and laugh
Lol complaining about fees…you obviously weren’t using the lightning network 🤦♂️
Bsv is the real bitcoin. The only real threat to the central banks. Why do you think everyone hates it?
If you have been closely watching the crypto or even invested in it, chances are that you will wondering whether the latest cycle is over... The truth is that the market remains unpredictable especially in the long-term... Despite the heavy outflow, Bitcoin still managed to promptly recover, this recovery demonstrated bitcoin's strength despite being stress tested against highly volatile and unfavourable market conditions.. I have invested in bitcoin and still investing, bitcoin is out there to help people financially I have experienced it...
Bitcoin is voluntary in El Salvador, give it time just like with the internet!!!
The law says that any economic agent has to accept it. They’re not enforcing it yet, but that’s what the law says.
Wonder if it’s any different now?
Boomberg absolutley hates BTC. It shows with each headline. All the more reason to to hodl more
Dude you got psyop'd by mastercard if you invested in BTC after the hard forks
Bsv is the real bitcoin. The only real threat to the central banks. Why do you think everyone hates it?
NFTs are the stupidest thing I have ever seen people buy. Crypto is one thing and still needs to figure everything out and grow. NFTs are just a giant scam in my opinion.
Oh absolutely. There is bitcoin and then there is complete garbage like ETH and the rest. It’s a social Darwinism experience.
I’m more interested in how this will play out by 2028. Growing pains are never easy or the end.
You mentioned that some transactions were very slow and feet were very high but you don't give a detail of the digital wallets were used for those transactions,
What you don't understand is that BTC has given lost of people the opportunity to get in to a financial system. Well, is not that you don't understand, the reality is that you have an agenda given by your bosses, if you buy BTC at $30 k and the price drops to $20 k but you stll ihave the same amounts of BTC and don't sell it, you haven't lost anything, I can't see that this video is one of those that are trying very hard to stop the new financial system that is a treat to the big financial institutions that rule the world.
Good try bud but BTC independently of the price, it will continue to spread.
Wow. You sure are knowledgeable. Seems like you have been purchasing Crypto for many years. Knowing about bitcoin definitely means you're smart and know a lot about finance. 😃
Only 30% of the population have access to smartphones and internet. And more than half of the population is in poverty. It's a pipe dream and it's going to fail especially if they're using some other countries currency. El Salvadorian people have this weird Romanticism .Poor people.
f..k the US dollar
Use the lighting network …. And this content is not aging well as bitcoin hit all time high of $73k ….
There has not been a realized loses with El Salvador. When you sell at a loss then it’s a loss. President Bukele has not lost a cent since there has not been a sale. Truth matters.
looks like he's in the green now.
Thanks for the breakdown! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Common sense that this would be the case! The rich getting richer and the poor getting poorer… what a shame but there’s nothing new
Is it any different under the USD currency?
It's absolutely ridiculous to make btc a country's currency when it is extremely volatile. So many more people will get wrecked!
You're gonna need a faster network built for enterprise use, for example maaaaybe.....XLM or XRP?
i think you mean to say Lightning Network
@@ElTruchoRey + Just think of apply pay, PayPal, Venmo, Google pay, none of them talk to each other. So now BTC is fragmented on different Lightning Networks.
There were plenty of emails by Satoshi Nakamoto explaining why second layers is a bad idea. To bad the dummies outlived him.
@@ElTruchoRey + 1. Lightning requires *Prefunded Fiat* Payments Channels to be Opened First (not profitable) 2. Sender/Receiver must BOTH be on online. 3. HUGE Constraints, large amounts not safe - known to lose BTC. 4. Not scalable. 5. Not available in most of the world. HAVE YOU EVER TRIED?
6. It's a layer 2 protocol that is centralized.
@@ElTruchoRey + BTC originally set to work outside the system, but is currently using fiat on/off ramps because it's necessary for more adoption. ( Fiat money? Isnt that against the Bitcoin Maxipads? )
If it goes down to 1 cent I might buy some.
Then it will go to zero and you lose. But it won't happen.
Making imaginary money legal tender is never a good thing, I would never accept it. It's not tangible and will not end good.
Do you carry around a satchel of gold and silver, or do you prefer USD paper cash that is only backed by debt?
The USD is only backed by imaginary IOU's.
Reality check, your dollar bills are imaginary intangible money
It would be easier for you to write " I don't understand Bitcoin ".
Yeah, like the money in your bank isnt imaginary money 🤣
@@ajinkyakamate421 not imaginary because you had to deposit physical currency or transfer it. None of you sheep answered. Why is it that bitcoin is linearly correlated with the stock market and why is it backed by physical currencies?
You are the hair in the soup. It is naive to have everything will work out the way the whole financial system has been so volatile in recent years.
Education is the key ,👍👍
What a terrible idea. 🤦
This comment didn't age well. 🤣😂
Bitty here. I have predicted that Bitcoin will hit $5M USD by 2023. What we all need to do and sell all assets right now and buy Bitcoin and NFTs. This will be the best decision you have ever made. Mark my word.
-BitMan
Bitcoin is slow and cumbersome,totally unusable as a mass means of exchange.the future is crypto but not bitcoin.millions have backed the wrong horse here.btc is heading to zero
Id delete this lol
de seguro es del 3% :v
Leftwing hit piece.
How's your prediction now?
The great thing about crypto, both the right and the left see it as just another way the rich extract wealth from the lower and middle classes. Bipartisan!
@@deanwilson175 All I see is Left wing hit pieces about El Salvador. Nothing about the positives.
@@ernst91 I'm a conservative, but I know a stupid decision when I see one. But you call it a leftist hit piece? Give your head a shake. The evidence is in and the people in El Salvador have spoken. Sadly, people like you that don't like what you hear decide to stomp your feet and call names.
@deanwilson175 how's your prediction now?
He hasnt lost $40m in Dec 2024.