Michael Saylor expressed:  Bitcoin is spreading like Lightning.

CNBC has reported that El Salvador’s new bitcoin wallet allows for cross-border, virtually instantaneous, zero-fee transactions, which is a game changer for a country where 70% of the population depends on money sent home from abroad to get by.

Nayib Bukele expressed:  “El Salvador has just bought it’s first 200 coins. Our brokers will be buying a lot more as the deadline approaches.”

Community response:  Do the El Salvadorians create a taxable transaction every time they buy a pizza with BTC?

President Nayib Bukele, Why would you tweet this? “Our brokers will be buying a lot more as the deadline approaches.” Aren’t you buying quite a bit of Bitcoin in a very short time period? Why would you do this?

Too many unanswered questions: Who are the brokers? How are they being paid? How was the contract tendered? Selection criteria? Is there a public portal with information on the bitcoinization process? Who audits? What are the public reporting protocols?

President Bukele— I would not announce these trades. It’s better to keep it secret to secure better rates.

I just don’t understand why on earth would you announce massive buy if you want to get best price for your country? Because he’s already made his purchases, and wants to see the market rise now so he can show a profit. When the market goes up, he can tell the country what a smart move it was, and then buy more. This is how politics works.

It’s so wonderful to see Bitcoin changing people’s lives for the better.  The philosophy of the rich and the poor is this “the rich invest their money and spend what is left. The poor spend their money and invest what is left”

The opportunity cost of everything still remains Bitcoin.  Better hurry if you want to seriously stack some Bitcoin under $100,000.

Well done El Salvador. Give it time and benefits will show. When the people start spending then the economy starts turning.

El Salvador received $6 billion in remittances in 2020. The average monthly remittance is $195. That’s an average Western Union fee between 5.6% – 9.2% from those who need it the most and it is not even instant, come on.  Get out.  Bitcoin is hope.  See ya Western Union. The fact that it isn’t even instant tells the story. Greed. Now they’re dead in ES and not a moment too soon.

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