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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender (26219 Views)
President Bukele Of El Salvador Has Deployed 4000 Soldiers To Three Communities / Ghana Bans Spending In Foreign Currencies, Makes Cedi Sole Legal Tender / Bukele: El Salvador Adopts Bitcoin As Legal Tender, The First Country (2) (3) (4)
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by eedimo(m): 4:54am On Sep 10, 2021 |
lol |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by SecretReporter(f): 4:55am On Sep 10, 2021 |
U |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Houstency(m): 4:56am On Sep 10, 2021 |
biosilicon: Wetin you except from Buhari supporter/BMC person? You tried even explaining lol |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by nnamdi640: 5:09am On Sep 10, 2021 |
FreeStuffsNG:. It seem you are new in this platform. Just write it somewhere, in future the only means of transaction will be crypto currency. Take Nigeria as an example, the materials used in printing #10, #20 and #5 is more than the money itself, that is why we continue having less circulation of such money. Again, hope you know that Nigeria is lunching her own crypto currency 1st of October this year. I don't think those people protesting really know the important of cryptocurrency to a nation. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Resurgent2016: 5:41am On Sep 10, 2021 |
ElectronicMoney: When countries start launching their ecurrencies, BTC will be slated for burial because the big countries will not allow btc compete with their own favoured ecurrency. Btc is free from control of the big powers and is a favoured tool for money laundery. I dont see btc as having a very long term future 1 Like |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Osiris12: 5:49am On Sep 10, 2021 |
post=105665353: U just dey embarrass yourself every where. Vulture griller turned blogger and pastor. Guy u never see anything. U go turn undertaker soon if blogging no pay u anymore 4 Likes |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by tuna85: 6:17am On Sep 10, 2021 |
biosilicon: The Boss |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by africandollar: 6:58am On Sep 10, 2021 |
Is this what is called a crash?! Common sharp retracement to grab liquidity dem don dey para? |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Angrymode: 7:09am On Sep 10, 2021 |
biosilicon: It's people like you that will continue defrauding people with block chains until you meet your unfortunate end or will continue to invest and promote block chains until you will loose an amount you can't recover from. Continue! |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by ihatebuhari(f): 7:31am On Sep 10, 2021 |
FreeStuffsNG:you wrote this gibberish because you're a Muslim. Don't worry it will shock you soon 2 Likes |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by hunterden: 8:00am On Sep 10, 2021 |
You are a dullard sir.with all these rubbish you have said,how do you feel? You deserve slap.aridin quote author=biosilicon post=105609156] WOW! You just publicly embarassed yourself. That is why its best to keep mute in matters you know little about. All you did was show that freestuffsNG is run by an ignoramus. So you'll rather prefer worthless piece of paper controlled by a small group of elites who print it at will. and then you and i ascribe value to it with our sweat and time. Clearly you know nothing. I'll take a volatile asset that retains value and appreciate on the long term over something that on a steady decline to zero. BTC's volatility will reduce with time as it gains more adoption. Nigerians don't read but since you are running a business, you'll be doing yourself a world of good by learning what sound money is, why the current global financial system will inevitably crumble and why BTC represents hope. I'll help you a little if you want, you can start by watching this video https://www.youtube.com/watch?v=iFDe5kUUyT0 The Elsavadorian president is a visionary, what he did is cheating because it is purely a shortcut to his country's economic prosperity. smart man. Those one thousand people protesting are probably illiterates or political opposition sponsored that know nothing about BTC. The president knew this would happen and warned before hand.[/quote] |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by maiquel: 8:11am On Sep 10, 2021 |
[s] post=105665353:[/s] The rule didn't say do not promote betting, forex or cryptocurrency The rule say do not promote shady investments like.. Get it now? |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by RedEnergy: 8:12am On Sep 10, 2021 |
Elsueno:Yes, you don't understand. The implication of making it a legal tender means that it is now illegal to reject it as a form of payment within that country. So people are being forced to take what they don't want or want to be a part of. If a buyer, employer or someone you rendered service to decides to pay you with bitcoin, you have to accept whether you like it or not. Assuming you get paid 1 bitcoins worth $50,000 at time of payment, and 2 weeks later, it crashes to $34,000, it means you lost money. This can't happen if the person paid you your $50k by normal currency tender. That's why people are protesting. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by princewarri1985: 8:17am On Sep 10, 2021 |
Nackdemall:Initially i thought only africans has this backward mentality, but am wrong because these people in Elsalvador also has this backward metality too because their president was trying to take them to the promise land, but they are still dragging themselves backward to the stone age! |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by poiZon: 8:23am On Sep 10, 2021 |
FreeStuffsNG:The eNaira this govt is proposing nko and they have even gone ahead to hire a foreign fintech firm to setup the platform ignoring super local fintech firms... Do u know how much have been expended so far from the first day they sat and conceived this? Have we as nigerians made any attempt to voice out this fraud that is going on? As a citizen what is ur opinion concerning cbn eNaira? |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by collins07(m): 8:41am On Sep 10, 2021 |
[quote author=FreeStuffsNG post=105602788]A loose canon seems to be in charge in that country. They got the kind of leader they deserve; he wants to take short cut to national prosperity in a country not producing anything but collecting. Smh. He is even mocking IMF, his nation's major creditor that recently helped it out of covid-19 induced economic contraction when he was challenged for using foreign donations, diaspora forex remittances and international debts to buy Bitcoin ! Well, it is their wahala. They are a small country with a small population of just around 6m people so they can't give the rest of the world problem. His solution to the prevalent drug gang violence and poverty in his tiny country is crypto. So much for those who believe in white supremacy in the only country in South America that doesn't officially recognise it has an indigenous black community. I can't just imagine President Muhammadu Buhari converting diaspora remittances of Nigerians overseas to Bitcoin and converting naira to Bitcoin, all hell will be let loose niyen. Hopefully, someday, those who are filled with bigotry and hatred for this great nation will not reach the stage they completely lose all in life before they learn to appreciate our strengths and successes as a nation. God bless Nigeria. [b]FreeStuffsNG My brother u got it all wrong about cryptocurrency.i'm a web developer and cryptocurrency entrepreneur and also in my 40s.d truth about crypto is that some people failed to learn before earning,they see is as get rich quick opportunity that's why they gets their fingers burnt. Crypto needs enough time to study it and never get greedy if u want to be successful. Have been in d industry since 2013 but got active with it in late 2016,I can tell u that it's d best thing that happened to this generation.it has different categories which people can explore and make fortune with time,d truth remains that crypto has given more wealth to people except those that gets greedy about it. What happened to El Salvador was expected cuz they needed to buy d dip and they did,others were able to buy d dip too. Cryptocurrency has come to stay for real,we are talking about industry that worth over $2 Trillion here. Institutional money is involved,richest hedge fund managers have keyed in,Visa is there,Paypal is there,Goldman Sachs is there grayscales is there Boa is getting ready to join. Banks are already investing in Defi cuz they are seeing d potentials of it.with all the China's crackdown crypto is doing fine,more US companies is adding Btc to their balance sheet.cryoto will keep growing and those that takes d risk will keep getting rich. I thank God for d great opportunity and I seized it.........my life haven't been d same again.in all things we should get knowledge. 1 Like |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by musicwriter(m): 10:58am On Sep 10, 2021 |
Elsueno: The protesters are probably political opponents of the president- people from another political party or rented crowd by the IMF, world bank, international bank cartels, and the global elites that control the world's economy. The El Salvadorian president is the most enlightened head of state in the world today from a poor country. If what he's planning works out and other third world countries join the use of Bitcoin, the IMF, world bank, Western banks, in fact, all banks would lose their control of the world. Anybody against cryptocurrency is against the betterment of humanity. 2 Likes |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by gforce5: 11:44am On Sep 10, 2021 |
You are wasting your time. Nigerians are used to mediocrity. Anyone who is against the President is seen as a wailer or IPOB. They compare Nigeria to other banana Republics to proof a point that Bubu is working. No sane educated and exposed individual will still be supporting a Government that banned Twitter, massacred innocent protesters, granted herdsmen amnesty, allowed banditry and kidnapping to fester to the point that even the elites are being kidnapped and stood by while the Naira crashed against other currencies. The standard of living has declined in the past 6 years. Despite all of this, a sizeable number of people still support him. Nigerians really deserve their leaders. Onepeople: |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by datamillionaire: 3:00pm On Sep 10, 2021 |
Shmm. What were they expecting before. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Elsueno: 3:33pm On Sep 10, 2021 |
RedEnergy: But dat same 1btc of $50k can also go up to $100k in 2 weeks |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by skj1377(m): 4:33pm On Sep 10, 2021 |
Bitcoin is very crazy am not an economist but I know bitcoin represents nothing.it is not a store of value and has no backing politalally economically or militarily. Bitcoin is just a digital space that has a value given by the number of people ready to buy it and the supply available. Besides, it's price fluctuates as the speculative tendencies of the buyers dictate. I wonder what will happen when bitcoin hits it's maximum 21million bitcoins as they say. Am looking for free money to buy Bitcoin and join the bubble because once the finite number of bitcoins is hit by my simple understanding of supply and demand then the value or price increases astronomically. But unfortunately there is a "fork" problem with Bitcoin and probably a " fork" without 21million cap will originate thereby dropping the price. But what I actually think will happen is the big economies will wait till their adverseries invest in Bitcoin before sabotaging it to oblivion. I hope to have sold whatever bitcoin I buy before then Kryptobi: 2 Likes 1 Share |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by UrVillagePpl: 6:26pm On Sep 10, 2021 |
showafrica: Oxymoron Sir, you started with giving us reasons to believe that BTC may soon experience a drastic fall yet you're now advising us to invest in it. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by showafrica(m): 2:45am On Sep 11, 2021 |
UrVillagePpl: I was advising the guy saying btc cannot come to 20k again . It is important he understands the volatility of crypto before he commits suicide. The bad news is, you may invest your live savings and wake up one morning to see btc at 5k$. If you can't handle it, you may commit suicide. The good news is, even if it crash to 1k, it will still go back to 50k and up. It is the best way to save excess money right now. Dump the cash there and forget it. Nigerian politicians have learned that trick hence Naira is summer tumbling. Naira will hit 900 Naira before December. 1 Like |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Kryptobi: 4:53am On Sep 11, 2021 |
skj1377: Lolz, Brother just go and do research about btc. That's all I can tell you. Your knowledge is very limited. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by UrVillagePpl: 12:59pm On Sep 11, 2021 |
showafrica: @the emboldened, that's a hard one 1 Like |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Cousin9999: 2:01am On Sep 13, 2021 |
Imagine making Monopoly money legal tender. Idíot government. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by RiceProducers: 9:00am On Sep 13, 2021 |
If you put some empty headed Nigerian youths into leadership in this country, this is the kind of stupid policy they would institute. Rank amateurs playing Russian roulette with their country men's livelihoods. 1 Like 1 Share |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by Solanaa: 11:04pm On Nov 21, 2021 |
Please can you put me through on how i could also be participating in airdrops and probably earn some crypto tokens. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by FuckHomophobes: 7:06am On Nov 22, 2021 |
Solanaa: Solana got me right there . Have you seen where a crayfish is teaching a whale before? You be boss 2 Likes |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by AlphaTaikun: 6:24am On Jul 21, 2022 |
showafrica:Word! You truly have deep insights. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by AlphaTaikun: 8:19am On Jul 21, 2022 |
FreeStuffsNG:You were right all along. El-Salvador, including Egypt, Lebanon, Tunisia, Ghana, Kenya, etc, are part of the 107 developing countries the UN revealed are going the way of Sri Lanka from 2022 because of economic distress. These novice young folks online and offline never listen. I too have stayed off any crypto investments, and will never go in... "Olorun ma je!" The trading maxim says: "Only invest what you can afford to lose." Cheers. |
Re: Protest In El Salvador As Bitcon Crashes After Government Makes It Legal Tender by showafrica(m): 5:14pm On Jul 21, 2022 |
AlphaTaikun: Well my accusation on sleepy Joe is wrong. They are actually returning dollar to what it was. That's what democrats and Obama do. The fact is USD is getting stronger and btc is not going up any time soon until another US elections 1 Like |
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