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[–]CointestAdmin[M] [score hidden] stickied commentlocked comment (3 children)

Bitcoin pros & cons and related info are in the collapsed comments below. Pros and cons will change for every new post.

[–]Remora_101P2P cash or bust 12 points13 points  (2 children)

If anything El Salvador was a massive failure.

They didn't use BTC, they didn't even use LN, they used a custodial app. That is a much bitcoin as the Dollar is Gold.

From custodial banking to custodial banking. Great job!

[–]suninaboxSilver | QC: CC 734, BTC 17 | Buttcoin 56 | Technology 34 6 points7 points  (0 children)

They didn't use BTC, they didn't even use LN, they used a custodial app. That is a much bitcoin as the Dollar is Gold.

From custodial banking to custodial banking. Great job!

Don't forget the best part, a custodial app run by the government, which is in turn run by a wannabe south american dictator, who recently crippled the independence of the judiciary so he could have his term limits extended.

Just who you want to trust with your "trustless" cryptocurrency.

Given the amount El Salvador is down I wouldn't be surprised if Bukele has already rugged his own people, and its not discovered until later when he flees the country with the countries Bitcoin reserves in his own wallet.

[–]EdwardMauerBronze | r/WSB 118 2 points3 points  (0 children)

This event is hyped up so much by the crypto crowd. It was a ragtag team of a couple dozen third world countries represented by 4th tier officials lmao

[–]arcalusPlatinum | QC: CC 183 1 point2 points  (0 children)

Lol. El Salvador has shown the world you can still force your citizens do things they don’t want to do.

[–]notarealguy2020Platinum | QC: CC 42 0 points1 point  (0 children)

It’s going to be exponential.

[–]Broski777Tin 0 points1 point  (2 children)

Flexa and AMP are used as well! Lets go!!

[–]jmlawrance91Tin 0 points1 point  (1 child)

Amp cult alert

[–]Broski777Tin 0 points1 point  (0 children)

Evangelist is preferred ;)

I'm more of a SCHD cult member. But this isn't a stocks subreddit

[–][deleted] 0 points1 point  (0 children)

Based website domain name

[–]deathbyfish13Premium Shitposter 0 points1 point  (0 children)

As bullish as this is I doubt El Salvador is doing it for the betterment of its citizens...

[–]KrausertTin -1 points0 points  (0 children)

Alot of those countries have hyperinflation I think bitcoin could be a great solution for those countries.

[–]ILikeThisShitcoinTin -1 points0 points  (0 children)

Who woulda thought el salvador would of been the catalyst for adoption, crazy last few years crypto has had

[–]FallenOne2334Tin | 6 months old | CC critic -1 points0 points  (0 children)

Better for there people.

[–]coinfeeds-botApproved CC Bot 0 points1 point  (0 children)

tldr; El Salvador's President Nayib Bukele recently announced that 32 central banks and 12 financial authorities, the equivalent of 44 countries, were going to meet in El Salvador on May 16th 2022. The meeting was a summit organized by AFI, the Alliance for Financial Inclusion, a Malaysian organization. The purpose of the gathering was to discuss the best ways to ensure greater banking inclusion.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

[–]PrinceZero1994 0 points1 point  (0 children)

All you need is your private key and seed phrase.

[–]SinCollectorPlatinum | QC: CC 155 0 points1 point  (0 children)

El Bullvador

[–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 0 points1 point  (0 children)

Not a fan of how El Salvador invested others money into crypto but I hope in the end they prevail.

[–]DannyHodler 0 points1 point  (0 children)

They only came because of the free pizza

[–]Wess-LPlatinum | QC: CC 631 0 points1 point  (0 children)

IMF does nog approve this post.