Not sure why I follow you because honestly I really don’t like you at all. Seem like a little drama queen. Bye. 👋🏾

When they let the IMF dictate some of thier Bitcoin policy, so since Jan 2025

Why is it a failure according to you? Is it because there is no mass merchant adoption yet? Or are there other reasons?

This is Nostr dude. Be kind, anon

Working on a video essay about this and gauging sentiment on here. For me it’s that the top down btc adoption was a massive flop and btc barely exists - at all - outside of 3 towns. They prove that bitcoin as a grassroots movement is the best way. I’ll continue to support them. Cheering on the retarded btc state apparatus … not so much.

It'll be grand

Gm When Joe Nakamoto isn’t visiting again anymore

Gm

Are you ignorant or fraud?

Joe is dope

It’s not a failure for the individuals that adopted it. What about for the state buying it? If they still own it then it was a success for their sovereignty and for their bargaining power against the IMF. As for the big state sponsored wallet rollout, and Bitcoin city it may have been a failure but also it did increase the number of visitors so from a marketing ploy it wasn’t a failure.

Someone’s clearly upset that toxic positivity is no longer the meta after people got sick of seeing a formerly revolutionary form of protest against the establishment turn into another tool of it over the last decade and a half. Boo fucking hoo.

GM Joe ,Nation state adoption is a multi decade generational shift, not a 5 year sprint. The infrastructure and legal framework are laid. It's only a failure if they abandon the standard completely.

gm 🤟

Thanks! Do you think they haven’t abandoned the standard?

So much emotion over an opinion… Keep up the hard work, man

Thanks! Yeah big “if” there though! We overestimate bitcoin tourism visits. It’s incredibly small and far less impactful than the WSL hosting a surf comp in El Salvador, sadly.

What? Be nice

I will visit if they allow me… 🫣

Not at all. Abandoning it would mean repealing the Bitcoin Law, liquidating the treasury, or shutting down the state backed infrastructure. Instead, they are still programmatically buying 1 BTC every single day into their public cold wallet.

i think something that's already been successful cannot be a failure

Oh interesting, is that what the boots on the ground in el zonte say?

GM Joe! 😄 If Bitcoin survives every obituary, I think El Salvador can survive a few years of FUD. Ask me again in 10 years. 🧡

It succeeded in it’s goals (attracting tourists and $$$) lol

GM!

Idk, I think it was a success tbh.

depends what the goal was. if it was everyday payments it fell short years ago, if it was putting a small sovereign on the map as a bitcoin jurisdiction it kind of worked. which one are you grading it on?

It was doomed to fail from the beginning but those who needed a sign that it failed have already gotten many signs. Here is more info: 1. On paper it sounds like the perfect plan. Make Bitcoin a legal tender. That will make Bitcoiners all around the world happy and boom! All the Bitcoiners will flock to El Salvador and El Salvador will become a rich country because all Bitcoiners are rich. In reality. Most Bitcoiners are not rich, and the ones who are rich. Don't want to go to El Salvador to retire as most Bitcoiners are still young. Most Bitcoiners want to build a family which requires building a business or having a job with a good wage. El Salvador doesn't have many jobs and the jobs that are available are low paying jobs. El Salvador real estate is also overpriced and Bitcoiners are definitely not the type who want to spend their hard earned saved Bitcoin on overpriced real estate. As soon as El Salvador said they were going to build a Bitcoin City. That was the first sign it failed because governments aren't capable of building ever. They always talk that way. We are going to build this and that but nothing ever gets built and to this day. It hasn't been built and all we got was a fancy picture. Chivo Wallet. The government launched their own Bitcoin wallet and tried to force people into using Bitcoin and even giving away 30 dollars worth of Bitcoin to the whole country. This caused a lot of fraud of people faking documents to get that 30 dollars. In a country where people don't have much money, 30 dollars is a lot and that money can feed you for a long time. It was never a profitable wallet and it operated at a severe financial loss and it's parent company fell into bankruptcy. In order to get the 3.5 billion dollar loan from the IMF they have to agree to sell off, reduce, liquidate the chivo wallet and they had to roll back Bitcoin as a legal tender. Those were a couple other signs Bitcoin failed in El Salvador. There was a lot of people who flocked to El Salvador to investigate and also be part of the Bitcoin boom but many of them were naive as how Bitcoin works and how the economic system in the world works. Many of them after a year or two wrote or abandoned their social media stating that there wasn't that much Bitcoin adoption and it was very slow. The reason there wasn't that much adoption and it was slow is because El Salvador is a 3rd world nation. They barley make any money and the money they do get they need to spend it right away to eat. They don't have the luxury to save Bitcoin. They need to eat. For some reason many were scared to talk about the fact that Bitcoin was not advancing fast enough but eventually many told the truth. The Bitcoiners who stayed kept pushing real estate but real estate is so ridiculous expensive there for what you get that Bitcoiners saw through them which made them question wheather they were actually Bitcoiners or just real estaters pretending to be Bitcoiners. To this day. Bitcoin has failed in El Salvador and there has been many signs. You can't force Bitcoin to succeed because the dominant currency is still the USD and world fiat world still dominates the world. There is tons of other factors. El Salvador, Max Keiser and the other Bitcoiners who made this plan underestimated Bitcoiners and underestimated the power of the fiat system that Bitcoin is trying to defeat. It will take time but yes Bitcoin will beat everything and by than almost all countries will adopt Bitcoin. You won't need El Salvador.

I think its not a failure. Its more easily usable then most places. But do the reserves really exist? And El Salvador shows us 3 things clearly 1)we don't have a payments problem, (ppl prefer to pay with USD) it's a store of value problem 2) usd still has value in 3rd world countries 3) people r retarded and tske path of less resistance and use fiat over bitcoin

I think as long as the government remains open to it and doesn't try to directly ban it or tax it like the rest of the planet, it's in a good place.

Remember when Gibraltar wanted to become the Bitcoin capitol of the world? Same faith for El Salvador (and the US)

We are too optimistic.

It still does some crazy advanced things but it lacks bitcoiners! I’m going there soon

It’s currently taxing it absurdly but yeh govts just should get outta the way

Good take

It’s now absurdly in debt and has tarnished btc imo

They have repealed the bitcoin law though. We don’t know about the treasury. The state backed infrastructure is v v v small and very politics heavy

Yes, we know about the treasury:

National Bitcoin Office of El Salvador

The National Bitcoin Office (ONBTC) of El Salvador under President @nayibbukele

Are they enforcing this? I know when they had a law that all business accepted wasn't enforced.

Sorry!

It will be ;)

Are they not educating the kids about it in school? Surely that’s a massive boost for their future over anywhere else in the world…? Unless it’s not catching on at all and indifferent to any other type of fiat education…?

What metrics would define failure? Adoption numbers, economic impact, or something else?

It never really had a chance to succeed. It needs to be from the ground up and most people in El Salvador still don’t know what BTC… it’s going to take 10+ years for BTC to have an impact there

Have they seriously given you problems? That's crazy if true

What😱🤔

super interesting to think about, and lingering on the difference between state imposed adoption vs grass roots. top down can go faster shorter term. but can it go further?

What makes you say that?

Sure seemed like you were enjoying being in the “failed country” when we were hanging at the bar and at Bitcoin Beach House

I think this is quite high-time preference oriented. It takes decades to change a nation. Once you see what the children (500K of them) will learn in the new Bitcoin Diploma that is being piloted now, you will see why El Salvador has a chance. Though, I understand where the negative sentiment comes from. Anyhow, there’s bo success without failure on the way.

There’s no success without failure.* I’m terrible at typing 😅

oh yes! And the new diploma is 🤩🤩

What would make you say that ? And why would a fiat system have been better?

LOL.

Thanks for making my point for me.

Não, o Biticoin já perdeu

You insulted the hard work of thousands of Bitcoiners, including many Salvadorans, and you’re willfully ignoring all evidence to the contrary of your FUD. In addition to circular economies like El Zonte and especially Berlín (started by Salvadorans) being among the world’s easiest places to live on a Bitcoin Standard… and among the many other ways El Salvador is winning… 20% of the students accepted to Plan B’s highly selective summer school this year came from El Salvador, because the Bitcoin Office educational initiatives are WORKING. (And that’s just from CUBO+ for older top students… “What is Money” and the Bitcoin Diploma are just getting started for all the other public school students) 100% hyperbitcoinization doesn’t happen overnight, and spreading FUD like this doesn’t help, but to paraphrase Nvidia’s CEO: “you’re not talking to people who woke up losers. That loser attitude, that loser premise makes no sense to me.” Paso a paso, Bitcoin Country keeps making progress. Even the number of merchants accepting Bitcoin has actually INCREASED since the IMF deal or whatever other nitpicky reason you have for criticizing from the sidelines. Try accomplishing even a small fraction of similar Bitcoin adoption on both top down and grassroots levels in your own country before insulting the hard work of others. That would require Brits to remember how to win though, so good luck with that. Happy 4th of July

Is judging going to help ? Success and failure is subjective. Unlike many places in the world, you can live on Bitcoin there and that is awesome.

Thank you. Dude is definitely click bait and it’s wack as fuck. All these clowns are just click bait for views and views for fiat.

It’s especially wack to me because Joe’s positive coverage of circular economies was a major inspiration for me to move to those ones I mentioned in El Salvador in the first place. It sucks to see Joe resorting to negative clickbait and ignoring all the positive evidence, but whatever. Bitcoin doesn’t care about FUD, and neither do Bitcoiners in El Salvador. Tick tock next block

If you want to hear the opinion of somebody who actually builds here in El Salvador:

Nelson Inno

There are two types of Bitcoiners. There are the ones who just celebrate it or complain, and there are the ones who get into the messy, hard work, ...

Wait, when was the Bitcoin Law repealed? The 1 BTC a day programmatic buys are still visibly hitting their public cold wallet address on chain. If the law was gone, the official treasury accumulation wouldn't be running transparently on the mempool.

I watched a few of his YouTube videos which is clearly his attempted job and they were complete shit. Everyone “in the space” follows him so I figured there’s something there but honestly he’s just an insta cunt.

Not “attempted” — Joe is a real professional and I still like a lot of his content personally. He covers important projects for Bitcoin adoption. I just don’t like that he’s insulting people’s hard work and ignoring all of the positive evidence of that work producing significant results. That’s the part that’s wack

Are you paid by El Salvador? Is it in your interest financial or otherwise to write this?

If you can’t take a differing opinion you’re not a bitcoiner you’re a cult member

Thanks dude. Hope your mental health improves

I’m not. I punch up, not down. El Salvador is a messed up dictatorship albeit with excellent bitcoin projects

Thank you for acknowledging that El Salvador’s Bitcoin projects are excellent, not a failure. “Messed up dictatorship” is an odd claim regarding the most popular democratically elected leader BY FAR in modern world history… especially coming from the UK, where your own government leads the Western world in total arrests for social media posts (among other crazy recent incidents like pressuring YouTube to boost state media, or arresting people who defended themselves against violent attacks instead of arresting the attackers) Even the polls done by Bukele’s opposition acknowledge that his approval rate among Salvadorans is genuinely around 90% “Punching up, not down” would be criticizing the IMF instead of the small country that’s trying to grow its way out of ever having to rely on their loans again. It’s fine if you prefer to ignore El Salvador and just focus on grassroots adoption elsewhere, but actively discouraging Bitcoiners from supporting Bitcoin Country (or even just learning from afar what’s genuinely working, NOT failing, to copy the best of its example in other small countries) is functionally equivalent to supporting the IMF killing the dream that a small developing country can break free by embracing freedom money. Regarding your other question: for the first two years I supported Bitcoin in El Salvador part time for free. Then yes, I was offered an events/media role (similar to your line of work) to support Bitcoin Country full time. I accepted a decrease in pay from my fiat mining job to do so, because I care about fixing the money more than making money. My belief in El Salvador’s importance as an example for the world is genuine. (You have sponsors too, and I think like me, it’s because they support you doing more of the work that you would want to do anyway) As to your other point: I can accept differing opinions, and I’m not a cult member. I hope you can see now though how it comes across as insulting to call the hard work of thousands of Bitcoiners (including many Salvadorans) a “failure” while ignoring all of the positive evidence to the contrary. No other country in history has accomplished as much as El Salvador has across multiple different aspects of Bitcoin adoption. 100% hyperbitcoinization success doesn’t happen overnight. IMF pressure and FUD from other Bitcoiners also make it even more of an uphill battle to do what’s never been done before… And yet the underdog Bitcoin Country continues accomplishing goals toward that end regardless. To me, it’s genuinely the most inspiring place on earth

I get it man, you get paid by the govt! I don’t. I love the economies and will continue to support them will critiquing the v popular but v obvious dictatorship. Bootlick away my dude!

Delete your YouTube account or go fuck yourself fuck boi. You won’t. Pussy.

Blaaaaaaahahaha. El Salvador was never not that. They are buying people to put in prison you clown fuck. Way to be years late to the game.

2022