Alex Christoforou
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Very smart, El Salvador to give $30 in Bitcoin to every citizen
****News Topic 455*****
El Salvador to airdrop $30 in Bitcoin to every adult citizen
Every Salvadoran adult who downloads the government’s Bitcoin wallet app will be eligible for an airdrop of $30 worth of BTC.
https://cointelegraph.com/news/el-salvador-to-airdrop-30-in-bitcoin-to-every-adult-citizen
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
They are asking for facial recognition in return for issuing money/wallets which is dangerous to put it mildly (1984 and all that). As this is a country with dictatorial tendencies, this would make me even more uneasy. They seem to be planning to force merchants to use bitcoin but I am not sure about that plan either. So while legalising bitcoin may prove to be a boon for this Latin American country, this may prove a rocky road, especially if everyone exchanges their bitcoin for US$ which is the legal currency for El Salvador. It will also make it difficult… Read more »
I guess Bukele is imitating the US which is spending $millions in attempts to entice folks to get the poison vaccine by trying to win lottery prizes. El Salvador is a poor country and I am sure everybody will want those $30. I doubt they’ll use bitcoin unless he keeps paying them regularly to do it. A foolish investment, me thinks.
Whilst I’m aware that there are adherents of Bitcoin and those who think it is the answer to keeping ones personal wealth away from the world bankers, I do wonder whether it is as safe as they like to make out. I think of the current amount of hostility towards vast numbers of humans – the jibby jabby is clearly making a lot of people unwell after administration and it is predicted that many will die this winter from antibody dependent enhancement (ADE) when the normal winter corona viruses return. Those who croak from that with Bitcoin in their wallets… Read more »
I agree, Fran. When my Pacific Gas & Electric Company switched to smart meters, I opted out, although I have to pay $5 a month for opting out. I have not regretted it, and found out recently that I am actually saving money, as the company bills those on smart meters based on their maximum daily use, while I pay for total monthly use, which ends up being less. I somehow sensed that this change would benefit the company’s bottom line, not mine. There are no smart gadgets in my house, none whatsoever, and there will never be any.
Why Bitcoin? El Salvador can create its own fancy paper money afterall state issued money are I owe Ues just as the dollar and euro. Bitcoin is too volatile to be used as money. Furthermore El Salvador should create small non profit community banking issuing their own created money without help of the banking cartel and the banksters IMF and Worldbank.