| > The bet being made by El Salvador is to get the immense benefits of being an early adopter at the cost of short term volatility and risk of bitcoin failing. Salvadoran here. It's hard to see the benefits if there is no transparency on the process. If we could even have a dashboard and an official website were we could have access to audited reports about the results of this bet, and see how its value varies over time. Then I might agree. Maybe just a graph like the one found Norway's Sovereign Fund website https://www.nbim.no/ In reality we just don't. Public information is limited or contradictory. The few public information available includes a tweet about the president buying bitcoin from his phone while not wearing clothes. https://www.washingtonpost.com/world/2022/01/26/el-salvador-... As far as I know, the trust that holds El Salvador bitcoin doesn't have a public website. And the state wallet's website doesn't publish an address or phone number. The only time I've seen their address is a receipt from a veterinary hospital run by the same state company operating the wallet, in which every procedure costs only US $0.25 because they are subsidized by "bitcoin profits" El Salvador is a strange country sometimes. |
El Salvadors adoption could have definitely been handled in a more transparent and self sovereign manner. I really wasn't big fan of forcing companies to accept it..
But then again, you never get everything you want. I guess the best we could do is praise them for the good and provide feedback when they miss the mark..