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ALL THINGS EL SALVADOR

Discussion in 'The Kruse Longevity Center' started by Jack Kruse, Sep 4, 2021.

  1. Jack Kruse

    Jack Kruse Administrator

    Bitcoin is secured by thermodynamics. Fiat is secured by coercion and the threat of violence. El Salvador has turned its cheek to its violent past.
     
  2. ND Hauf

    ND Hauf Pleb

    GavinH and John Schumacher like this.
  3. Sean Waters

    Sean Waters New Member

    https://www.ft.com/content/18b59559-378b-4f14-ab2e-b54ede79816c

    Funny how the critiques of the El Salvador Volcano Bond is that "it is unlikely to improve it's creditworthiness" and "it will push it further from traditional debt markets" as stated by Kevin Daly, of Aberdeen Standard Investments, who said; "I don’t know who is going to buy these bonds but it sure as heck isn’t going to be us."

    That's why it's going to do so well Kevin, because you're not a part of it. Nor is the traditional debt market, or the credit market.

    Bye :)
     
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  4. Jack Kruse

    Jack Kruse Administrator

    El Salvador’s ambassador to the US, Milena Mayorga, told to CoinDesk that the country is ready to burn bridges with international organizations if they will become an obstacle to Bitcoin adoption. According to the official, the US is concerned about losing the power of the dollar.

    Moreover, traditional international financial organizations are afraid that other countries will go for an alternative funding option if El Salvador’s “Bitcoin Bond” will succeed.

    Even though the dollar will lose power at some point why not join the revolution now? It's just pointless to fight change!!! It's sad that governments, supposed to encompass the upper echelon of society are unable to make rational decisions. Funny enough all this has precedence.

    Integrated thinking is an important aspect of a rational scientific & financial mind. HODLer's need to consider getting and building a life in this country in a smart fashion.

    Precedence has shown that those who resist change almost always end up on the losing side of history. Just ask any government with a colonial history.
     
  5. During a BRUTAL study at Harvard in the 1950s, Dr. Curt Richter placed rats in a pool of water to test how long they could tread water.
    On average they'd give up and sink after 15 minutes.
    But right before they gave up due to exhaustion, the researchers would pluck them out, dry them off, let them rest for a few minutes - and put them back in for a second round.

    upload_2021-12-9_15-38-45.png
    In this second try - how long do you think they lasted? [​IMG]
    Remember - they had just swam until failure only a few short minutes ago...
    How long do you think?
    Another 15 minutes?
    10 minutes?
    5 minutes?
    No!
    60 hours! [​IMG]
    That's not an error. [​IMG]
    That's right! 60 hours of swimming.
    The conclusion drawn was that since the rats BELIEVED that they would eventually be rescued, they could push their bodies way past what they previously thought impossible.

    Let think about this - BitCoin is no longer at 10K per coin; nor is it unknown to the "average" investor.
    If hope can cause exhausted rats to swim longer, what could a belief in yourself and your abilities?
    Remember what you’re capable of. Remember why you’re here.
    Keep swimming.

    BitCoin is not beyond reach...

    Reference: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3353513/
     
    Last edited: Dec 9, 2021
    Sean Waters, GavinH and ND Hauf like this.
  6. "El Salvador needs to pass a new law that will allow the country to grant a licence to Bitfinex to list the bond issuance. Once that happens, the goal is to issue the bond in the first quarter of 2022. Bukele hinted at a shorter timeline of the next 60 days.

    upload_2021-12-9_16-20-47.png

    Aerial view of energy extraction at the La Geo Geothermal Power Plant on October 22, 2021 in Berlin, Usultan Department, El Salvador. After declaring Bitcoin legal tender along with US Dollar, Salvadoran government mines cryptocurrency with 300 computers in plant powered by Tecapa Volcano.

    Source:
     
    Last edited: Dec 9, 2021
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  7. Jack Kruse

    Jack Kruse Administrator

    Savings = time = value = monetary energy = thermodynamic digital energy.
    I put my life time digital energy into Bitcoin because I am risk averse. The risk I see is inflation, hyperinflation, and deflation.

    El Salvador and Paraguay think like Jack.
    https://twitter.com/stacyherbert/status/1470087284032688133
     
  8. Jack Kruse

    Jack Kruse Administrator

    IMF Reiterates ‘Significant Risks’ From Bitcoin in El Salvador "Significant risks" for the financial establishment?
     
  9. In an IMF Press Briefing, December 16, 2021, Gerry Rice from the IMF Communication Department warns EL Salvador that the use of bitcoin raises many concerns. “Crypto technologies and digital payment systems have the potential to make payments more efficient, but bitcoin as legal tender entails significant risks to consumer protection, financial integrity, and financial stability.”

    My question is: what risk does El Salvador pose to the IMF?

    Source:
     
    Last edited: Dec 16, 2021
    GavinH likes this.
  10. How did trip go, restrictions?
     
  11. Jack Kruse

    Jack Kruse Administrator

    My last New blog of 2021 is now out: First, you must think, and then you must act. The eye can only see what the mind can comprehend. If you don't think it first, it will not happen. 2022 NEW YEARS WISHES FOR MY TRIBE.............. https://www.patreon.com/posts/2022-new-years-60434259
     
  12. Jack Kruse

    Jack Kruse Administrator


    An extinct business model.
     
    John Schumacher likes this.
  13. Jack Kruse

    Jack Kruse Administrator

    If you think your future is going to be like your past you're doing life wrong and wasting your time.
     
    ND Hauf and John Schumacher like this.
  14. ND Hauf

    ND Hauf Pleb

  15. Jack Kruse

    Jack Kruse Administrator

  16. Jack Kruse

    Jack Kruse Administrator

  17. ND Hauf

    ND Hauf Pleb

  18. Jack Kruse

    Jack Kruse Administrator

  19. The president of El Salvador has many battles to fight. The "gangs and the political corruption" were two of the big issues he (Nayib Armando Bukele Ortez) ran on in his campaign to presidency. The article referenced above is dated Jan 10th 2020 -> two years ago, is an example of the problem.

    Will the BitCoin City build enough momentum to help pull the poverty level up for his citizens? -> I hope so.
     
  20. Ambassador Jean Elizabeth Manes during the “Anti-Fraud” Conference (Feb 2018) gave her support for El Salvador, “This struggle is too big, I can’t have a significant impact. It is something beyond me. It is simply our system. It’s how we’ve done things for decades.”

    Now she says, “the country has no interest in improving relations.”

    Well gee, thanks for all the support ... US :confused:
     

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