#AskLeo - What do you think about El Salvador's adoption of BTC?

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Hi,

for today's #AskLeo, the # tag by @acesontop, I want to ask you, on how do you find the adoption of BTC in El Salvador?

Do you see it as a good move, or a move with much more danger compared to the benefits gained?

We see an attack on BTC and crypto, right on the day of the adoption, so countries that move in the for me, right direction, can be exposed to higher attacks. We know that states can manipulate currencies, and making BTC a currency, it can be used as a mean of attack for the economy and politics of the state.

The right move was the announcement of the president, the simple buy the dip tweet helped gain trust and fenced off, what could have been an attack as Soros did on the British pound. If a man can attack a currency of a former empire, imagine central banks attacking the economy of a small and troubled Central American country.

I hope that our David, which is El Salvador, will win against the big guys, Goliath!

I think that it was a bold and unexpected move, with high risks, but which can bring a lot of fortune to the country, and maybe it can bring them their financial independence as a state.

How do you see it? How do you find the adoption of BTC in El Salvador?

Posted Using LeoFinance Beta



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13 comments
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I think it’s an awesome move, one that will be remembered for a long time. It’s quite clear that the powers that be won’t take is lightly, IMF and all their friends will push back. But I think El Salvador is good for all the push back. My only hope is that the citizens are patient enough to realize what great good is being done

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I just wrote about this
A little afraid of the sudden drop after the decision was announced
Certainly we cannot judge now about the functioning of Bitcoin as a currency there, as there will be Fees and a completely different technology is required so that the people can adapt to Bitcoin


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Agree, I see it as footstep in the door to keep it open for new opportunities.

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Bitcoin isn't and will never be a practical currency, I don't see myself buying milk with bitcoin. I would on the other hand buy stuff with stable coins if they ever become accepted and manage to stay decentralized

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Fully agree with you on this, BTC is not for milk, I would not want to wait 20 minutes to pay $40 for a liter milk.

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Dont know what to think about ist yet. But its very interesting to see.

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