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RE: Letter to Nayib Bukele: How Hive Can Help El Salvador's Bitcoin Ambitions

in LeoFinance3 years ago

To me, I don't see how this really fits his goal, his goal is economic independence and holding and acquiring an asset with no third-party risk, anything else would be a distraction. El Salvador has quite a way to go to building out their infrastructure, their Chivo wallet isn't yet up to scratch and is feeling the strain of onboarding millions and the educational drive is tough.

It's a steep learning curve and there are plenty of anti-bitcoiners in the nation as well as in parliament despite what Bukele tries to project. I think focusing on building out the circular economy is a must as he only has a short time before his term is over and anything else would detract from that goal

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It is true that there is a problem of changing course when political changes happen or elected officials are replaced. But it seemed bitcoin law had a large support of the parliament as well. I doubt this direction will change for El Salvador. It is a good thing. I don't understand the anti-bitcoin rhetoric though. I did see some articles early on, but not sure if they are genuine. Those who don't want El Salvador's bitcoin efforts to succeed do have deep pockets to orchestrate fake sentiment.

At the same time this legal tender is not necessarily forced on everybody. People and merchants still have an option to use USD. I don't understand why would anybody be upset about it.

I do understand what they are trying to do with bitcoin. Learning curve in understanding bitcoin is not an easy one indeed. It took me years to understand a little bit about it. That's why I think Hive can be beneficial. It does help in understand how blockchain works.