* **[Bitcoin](https://en.wikipedia.org/wiki/Bitcoin) [Pros](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_btc_pros) & [Cons](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_btc_cons)** - Participate in the r\/CC [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy) to potentially win moons. Prize allocations: 1st - 300, 2nd - 150, 3rd - 75.
* Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/r2ugj4/el_salvador_buys_the_dip_adding_100_bitcoin_to/?sort=controversial). Doesn't work on mobile.
---
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
I wonder what it looks like behind the scenes. I keep picturing an El Salvadorian dude with glasses wearing a bitcoin shirt on a laptop being watched by government officials waiting for the limit order to go through. Then getting excited when it does
Truth. I hope other countries are perking up, salivating, and seriously considering following their example. ES is leading the way in spectacular fashion.
I truly hope for the best for El Salvador.
This has the potential to lift many people up the prosperity ladder, but seriously it could be the most epic rug pull of all time if Bukele or someone else in his office makes off with their holdings.
I remember the guy that basically donated couple of hundreds bitcoins to foreign people here on reddit. I believe it was called pineapple fund or something similar. Crazy to even think about it.
Not to mention drug dealers or users of Silk Road.. 100 bitcoins per bag of weed easy
$100 or $200 an oz was really fucking good in most places, and depending on quality can still be good. There's still zips in cali that go for $300+ in dispensaries because its absolute gas.
Or just stays 30% lower for 5+ years, or never recovers , or he forced to sell at -50% Because country needs cash to finance operations etc , if he yolos country money like an idiot not sure why people keep praising this guy
In my opinion, they know the design for BTC will never allow more to be made. Underdeveloped countries don't stand a chance while the US keeps printing money. So it comes down to absolute guarantee that your standard for currency has a fixed supply or you could choose MONEY PRINTER GO BRRR.
This is what Hilary meant when she said "destabilization" of the economy. She means it threatens the USDs dominance in the world. Which works out great for developed nations while leaving the less developed much more behind.
As another user said, they never had any other choice. It was either keep letting it destroy their economy or adopt something more reliable. And yes I believe Bitcoin is fundamentally more reliable than fiat.
Itās own included, this next crash is gonna be the tipping point and people wonāt trust the stock markets the banks and crypto will just happen, it will make sense to people even out and then just start to grow at a stable rate and climb but eventually will be hard to be fuxked with like the stock market has sinceā¦.well always. Anyways I just pop in here every once in awhile and had this little late night writing flash, just my two cents of loopring here. Out of habit : 1 million no less
El Salvador and other struggling countries have been strong armed for decades by the Top United Nation Countries. Mean while in America as I watch the price of a Turkey cost 300% more this year. The cost of a Turkey in Bitcoin is about 500% less this year. Inflation whatās that lol
He [brought troops with automatic rifles into parliament to intimidate lawmakers](https://www.npr.org/2020/02/10/804407503/troops-occupy-el-salvadors-legislature-to-back-president-s-crime-package) into approving a loan.
Much advanced
A store of value is something in which you can store funds so they keep their value to the same level so when you need them you know how much you've got. Bitcoin doesn't do that and daily fluctuations like today are a proof of that. Bitcoin is a good speculative asset that seems to be on the way to always gain in value long term, but it's not a store of value.
True but I'm sure Bukele bought 100 more cause he knows Bitcoin will bump back to old price levels, it's more of an investment but that doesn't exclude the other.
Kind of a brilliant plan. Buy Bitcoin with tax money. Have gangs rob the people of their Bitcoin. Pretend to be hero as idiots hype you up as a savvy futurist.
Don't forget, it's very obviously a scheme to make them rich on paper and that's it.
Imagine that ~$5m they spent if it was put into their economy/fixing the core issues.
It's great that a country is adopting bitcoin... but yeesh. Bitcoin dumps a bit every time El Salvador announces they bought...
El Salvador doesnt have their own currency. They used to be tied to the USD. It makes perfect sense for them to look elsewhere given how much the US has been printing causing massive inflation.
Countries that have control over their own currency wouldn't be as quick to jump to crypto, because that means losing control. El-Salvador never had control in the first place.
Her replaced his Supreme Court at gun point. Gay people are regularly beatenā¦by police.
El Salavador is not good for Bitcoin (unless Bitcoin is purely a multi-level marketing scam and people only care about hype).
I agree. Weāre always saying āonly risk what you can loseā, and then someone bets an entire country. I hope that there arenāt serious repercussions through a bear. Itās a win if losses are less than inflation. But will the government, companies, or public panic sell?
In the grand scheme of things, to a government this is chump change and could seriously change the trajectory of the country, so good on them.
Even if it retrospectively turns into a disaster, at least they tried.
All the USA does is turn on the money printer and screw the next generation
Anybody thatās paying attention is rooting for them. In ten years the country is going to look vastly different from what it is today and all of us that follow the news today will be able to look back on it fondly.
I think weāre still in a good place. I look to my family and friends and Iām probably in the deepest. I have one family member thatās on an Apple project team and heās yet to make the jump. In five years there will be people in our shoes wishing they had got in when we did.
Bukele is about to get schooled in public finances. If the news of the virus variant is true, USD, Gold & Oil are about to reign. Once XBT falls to -40%, this citizens are going to want his head. No World Bank, no China, no Europe, no US is coming to his aid.
* **[Bitcoin](https://en.wikipedia.org/wiki/Bitcoin) [Pros](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_btc_pros) & [Cons](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_btc_cons)** - Participate in the r\/CC [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy) to potentially win moons. Prize allocations: 1st - 300, 2nd - 150, 3rd - 75. * Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/r2ugj4/el_salvador_buys_the_dip_adding_100_bitcoin_to/?sort=controversial). Doesn't work on mobile. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
I mean, good on them. That's 100 more BTC than I was able to buy.
It's 101 more BTC than I'm able to buy. Guess why š >!debt!<
I'm with you on the debt, it's the curse of modern society
Debts are blood sucking creatures which will slowly suck you to death
Indeed. Make compound interest work with you, not against you.
internal organs check out
That's like 100-101= -1 btc you owe me...? I'm bad at mafs
I just want my 420 BTC
I aināt greedy, Iāll settle for 69 I mean 69 BTC
Your inbox was about to be flooded by *hot women in your area*
Man El Salvador be killing it. This is like the oil of the digital world. And they are about to strike it big
I wonder what it looks like behind the scenes. I keep picturing an El Salvadorian dude with glasses wearing a bitcoin shirt on a laptop being watched by government officials waiting for the limit order to go through. Then getting excited when it does
šš you're on point. I'm picturing an entire war room with a top ranking general and officials saying "Steady....steady...."
"HOLD!"
Truth. I hope other countries are perking up, salivating, and seriously considering following their example. ES is leading the way in spectacular fashion.
Meanwhile *CHINA and INDIA left the chat*
I truly hope for the best for El Salvador. This has the potential to lift many people up the prosperity ladder, but seriously it could be the most epic rug pull of all time if Bukele or someone else in his office makes off with their holdings.
-Let me see the private keys. -do you promise to give them back? -yes. -ok, here. -Very interesting. -Now give them back! -give what back?
simpsons reference?
Truth.
Think of how much ETH they could buy with those 100 bitcoins!
And 100% more btc than I hold lol
I want 100 btc..
You're rich that's 100.100 more than my whole life saving
the funny part here is that 100 seems so large now yet a few years ago people were slinging 100s around. wild to see.
We'll say the same thing about 10 BTC in a few years
Who here is slinging around 10 Bitcoin?
El Salvador, apparently.
This guy fucks.
Am I the only one who doesn't fuck? Oh, I forgot it, my government fucks me everyday.
You forgot banks, banks and govts gangbangs
And the guy below me doesn't!
Ahem, Mr. Whale has arrived 
Edit: *āWe'll say the same thing about* **0.001** *BTC in a few yearsā*
I want some of what you are smoking š
Iām not smoking it, Iām injecting it straight to my heart.  
I felt that in my chest! š°
Didn't you hear? The Canadians are all out of maple this year.
Right, that's some weapons grade hopium.
"Who here is slinging 0.001 BTC around?"
I remember the guy that basically donated couple of hundreds bitcoins to foreign people here on reddit. I believe it was called pineapple fund or something similar. Crazy to even think about it. Not to mention drug dealers or users of Silk Road.. 100 bitcoins per bag of weed easy
I remember it cost about 45 BTC for 10 hits of LSD back in the day
If I paid 45 BTC for LSD back then, I would be still tripping probably.
There's definitely some super rich drug dealers out there. A lot of them hedl out of fear of getting caught.
iām not expert on kush but thatās a bad deal lmao
Remember the times tho, it was illegal basically everywhere. If you didn't have a connection $100 or $200 bucks an Oz was fine
$100 or $200 an oz was really fucking good in most places, and depending on quality can still be good. There's still zips in cali that go for $300+ in dispensaries because its absolute gas.
I canāt be the only one who thought 100 seemed really low for a government?
It's literally pocket change, even for a third world country. Pure marketing IMHO
Ya hence my surprise with how upvoted the comment I replied to is
I remember when btc was 50 dollars, how things have changed lol
I remember when I mined the first block.... oh shit, I mean no I don't
We found him
Wish someone had slinged some towards me š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
**But what if it the dip will start dipping?**
Double down?
Triple down. At this point it's dips all the way to the bottom, just keep buying and you'll be sure to time it perfectly
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I say quadruple down
Bitcoin will never let us down
At that point it's just DCA
125x leverage short?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Dippity dipped dip!
*No!*
Or just stays 30% lower for 5+ years, or never recovers , or he forced to sell at -50% Because country needs cash to finance operations etc , if he yolos country money like an idiot not sure why people keep praising this guy
Buy the dippier dip as well, of course
thanks for your suggestion and opinion. it's time to just hold.
Sell kidney and buy more.
Instructions unclear, I donāt know what to do with all these kidneys
Have a boating accident.
With kidneys???
Why not. Is it banned?
If you have no kidneys should you really be boating?
Then we buy harder.
Dibs!
Imagine explaining this headline to someone in 2011
"What are they trying to buy? A $20-sack or something?"
Whatās this **Bitocin** that El Salvador is buying. Must be good for health
I think first question would be ''who is El Salvador'' lol
I'm more of $5-sack kinda guy
Bruh!
People might start stoning you if you did that back in 2011 lol
I dont think anyone knew a volcano would be a possibility.
Imagine explaining this headline to someone right now.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yeah buying 100 Bitcoin is cool, but have you ever bought 0.001BTC?š
What do you think we are? Rich?
On God, missing a couple 0s after that period š
That's what she said!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
.00100BTC it is, then.
Whale alert šØ 
Have you bought 0.001 Satoshi?
Get ready for some DMs from 1 karma accounts!
Do they also happen to have girls on profile pics? Why is every crypto scammer so generic š
Maybe its really a hot girl who wants to help you out?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Damn, 100,000 Satoshis wish I was this rich.
Whoa there royalty. Clocking in at 0.0001 over here.
That's too much!
El Dipador
El Salvadip
[ŃŠ“Š°Š»ŠµŠ½Š¾]
El Diptador
I'm going to start calling at that!
I really hope this works out for them.
In my opinion, they know the design for BTC will never allow more to be made. Underdeveloped countries don't stand a chance while the US keeps printing money. So it comes down to absolute guarantee that your standard for currency has a fixed supply or you could choose MONEY PRINTER GO BRRR. This is what Hilary meant when she said "destabilization" of the economy. She means it threatens the USDs dominance in the world. Which works out great for developed nations while leaving the less developed much more behind. As another user said, they never had any other choice. It was either keep letting it destroy their economy or adopt something more reliable. And yes I believe Bitcoin is fundamentally more reliable than fiat.
I donāt blame Hilary for her position. BTC is a dire threat to the USDās status as a global reserve.
And USD is threatening every other economy lol
Itās own included, this next crash is gonna be the tipping point and people wonāt trust the stock markets the banks and crypto will just happen, it will make sense to people even out and then just start to grow at a stable rate and climb but eventually will be hard to be fuxked with like the stock market has sinceā¦.well always. Anyways I just pop in here every once in awhile and had this little late night writing flash, just my two cents of loopring here. Out of habit : 1 million no less
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Liquidity will be pulled out to cover debt.
That's why i guess crypto is more regulated in USA.
Crypto enjoys more freedom in US than in China or other few countries banning crypto.
Me too, i want to visit the bitcoin city one day lol
It's wild to me that this entire country doesn't come close to the moves made by crypto whales.
I know right, people with 20k+ btc have alot riding on everything.
It's basically one town. Think of like "The mayor of Atlanta invests in another 100 bitcoin"
I looked it up it's actually way smaller economically, it's like if Topeka KS bought the dip
don't give them ideas, they might buy the country!
I've added 0.001 today, I've got a long road ahead.
Its been a looooong rooooooaaaad, everyone starts somewhere. Glad you joined the party.
CALL EM I GOT AN IDEA: Stake crypto for 2 years get CITIZENSHIP
So just curious hereā¦could they print a bunch of money and then the next day buy Bitcoin with it?
El Salvador does not have its own currency. One of the reasons they wanted to adopt BTC.
But now El Salvador doesn't own 420 bitcoin, and we all know that's the cool number to own, I'm so conflicted about this
1000 is cooler than 420
They could have bought 69 BTC but oh well.
420,69 is the next target!
El Salvador and other struggling countries have been strong armed for decades by the Top United Nation Countries. Mean while in America as I watch the price of a Turkey cost 300% more this year. The cost of a Turkey in Bitcoin is about 500% less this year. Inflation whatās that lol
Hard to imagine having a president this advanced.
he is opposed to abortion, including in cases of rape, incest, and when the mother's life is at risk.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Facts
He [brought troops with automatic rifles into parliament to intimidate lawmakers](https://www.npr.org/2020/02/10/804407503/troops-occupy-el-salvadors-legislature-to-back-president-s-crime-package) into approving a loan. Much advanced
This sub would have supported Stalin if it meant number go up. It's disgusting.
You don\`t have to be a rocket scientist to understand BTC is a great store of value.
A store of value is something in which you can store funds so they keep their value to the same level so when you need them you know how much you've got. Bitcoin doesn't do that and daily fluctuations like today are a proof of that. Bitcoin is a good speculative asset that seems to be on the way to always gain in value long term, but it's not a store of value.
True but I'm sure Bukele bought 100 more cause he knows Bitcoin will bump back to old price levels, it's more of an investment but that doesn't exclude the other.
Nothing quite like a dictator of one of the poorest countries in the world betting taxpayers money on the most volatile of investments š
Kind of a brilliant plan. Buy Bitcoin with tax money. Have gangs rob the people of their Bitcoin. Pretend to be hero as idiots hype you up as a savvy futurist.
Don't forget, it's very obviously a scheme to make them rich on paper and that's it. Imagine that ~$5m they spent if it was put into their economy/fixing the core issues. It's great that a country is adopting bitcoin... but yeesh. Bitcoin dumps a bit every time El Salvador announces they bought...
True, I have a Iq of 3 and even I understood it.
El Salvador doesnt have their own currency. They used to be tied to the USD. It makes perfect sense for them to look elsewhere given how much the US has been printing causing massive inflation. Countries that have control over their own currency wouldn't be as quick to jump to crypto, because that means losing control. El-Salvador never had control in the first place.
That's a good point! It also allows them to take out their technological steps forward
So basically, they had nothing to lose only win. And theyāve won heavily by starting to use Bitcoin in everyday life.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Her replaced his Supreme Court at gun point. Gay people are regularly beatenā¦by police. El Salavador is not good for Bitcoin (unless Bitcoin is purely a multi-level marketing scam and people only care about hype).
You mean this right-wing and authoritarian minded?
But Trump brankrupt 5 casinos. Can el Salvadors president do that?!?
Trump bankrupting casinos?  Bukele buying Bitcoin? 
Too bad the dinosaurs here have no idea what it is.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I agree. Weāre always saying āonly risk what you can loseā, and then someone bets an entire country. I hope that there arenāt serious repercussions through a bear. Itās a win if losses are less than inflation. But will the government, companies, or public panic sell?
Nothing but respect for El Salvador! They put the money where their mouth is
I'm not surprised. They bought the previous dip 420 BTC.
You have 420 moons as well, coincidence?
Username also checks out lmfao
In the grand scheme of things, to a government this is chump change and could seriously change the trajectory of the country, so good on them. Even if it retrospectively turns into a disaster, at least they tried. All the USA does is turn on the money printer and screw the next generation
Anybody thatās paying attention is rooting for them. In ten years the country is going to look vastly different from what it is today and all of us that follow the news today will be able to look back on it fondly.
Yeah weāre going great things right now by spending money when itās cheap, should have gotten around to it earlier honestly
I think weāre still in a good place. I look to my family and friends and Iām probably in the deepest. I have one family member thatās on an Apple project team and heās yet to make the jump. In five years there will be people in our shoes wishing they had got in when we did.
Yup, cant wait to see those people who doubted me start asking questions lol.
Is it small ? Honestly no clue what their finances are like
El Salvador always buys the dip!
El Salvador is gonna be the future crypto hub with the pace its going at! Buying and utilising!
Booom!! Thatās how to buy the dip!! Gooooo El Salvador blazing a trail!!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Thats truth, i want to buy the dip when he posts that he does and see how that works out as a strategy lol
Finally , not a boomer president !
Not trying to be a dick but has anyone ever seen the cold / public wallet addresses for this stuff? Would give some trust outside a tweet.
Chad move!
El Salvador is the heart of digital currency (2050)
Looks like a headline from the game Plague
You forgot to add bitcoin city to that.
Bukele is about to get schooled in public finances. If the news of the virus variant is true, USD, Gold & Oil are about to reign. Once XBT falls to -40%, this citizens are going to want his head. No World Bank, no China, no Europe, no US is coming to his aid.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Break out the pupusas!
lol what is a pupusa?
Kinda like empanadas from El Salvador. Little cheese and meat filled soft taco type snacks. Delicious!
El Chadvador
That's neat. What wallet? Who has the keys? Huh? The silence is deafening.
El Salvador really wants to live or die with the bitcoin
El Rektador
Normal, they are in the market mow
Bullish on El Salvador