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El Salvador: A $1B Bitcoin bond, to set up ... Bitcoin City!

24 points by davidgerard 5y ago

tibanne 5y ago
I wonder how much el presidente is getting from BlockStream.
tomdell 5y ago
"Mow says all the numbers work out if BTC hits $1 million within five years." So for the numbers to work out, BTC must increase in price by 1,600% - amazing plan.
- sjtindell 5y ago
  You’re talking about an asset that you could have bought on 90% of the days in the last 10 years and made a profit. That has seen at least 50,000% or more gains in that timeframe.
  - bdcravens 5y ago
    Yes, but there's diminishing returns as the price gets higher.
    - davidgerard 5y ago
      it also has to have any market depth at that price - you can drop the BTC price $3,000 by selling $1m worth just lately, imagine having to cash out $1b "worth" into actual money not to mention the US miners who have a "stockpile" of $1b of BTC, apparently for every possible reason other than "actual-dollar liquidity doesn't exist to sell it without crashing the price"
      - writetoalok 5y ago
        “Past performance is no guarantee of future returns!”
    - sjtindell 5y ago
      I agree there can be sometimes. But I heard the same thing at $0.01 and $1. “It’s already gone up so much.” I heard the same at $10 and $100 and $1000 and…
      - deleted 5y ago
        [deleted]
  - 1270018080 5y ago
    At no time since the tulip bubble has the phrase "past returns are not indicative of future performance" been more relevant.
  - imtringued 5y ago
    Ok, but if it goes up that much, why would anyone want to use it as legal tender?
bob331 5y ago
Lol bitcoin and this failed state are a perfect match
bellyfullofbac 5y ago
Someone want to remix The Monorail Song? https://www.youtube.com/watch?v=ZDOI0cq6GZM https://www.youtube.com/watch?v=ZDOI0cq6GZM Make an NFT out of it and you'll be rich!
hereme888 5y ago
Can't help but remember how people hated on Bukele when he bought BTC in the 28-32k range...we'll see how it works out in the next 2 years. Since large institutional investment in BTC keeps increasing, I think the project will do well.
mvindahl 5y ago
Tired: Fyre Festival Wired: Coinbros on Fire Festival

24 points by davidgerard 5y ago

I wonder how much el presidente is getting from BlockStream.

"Mow says all the numbers work out if BTC hits $1 million within five years." So for the numbers to work out, BTC must increase in price by 1,600% - amazing plan.

sjtindell 5y ago
You’re talking about an asset that you could have bought on 90% of the days in the last 10 years and made a profit. That has seen at least 50,000% or more gains in that timeframe.
- bdcravens 5y ago
  Yes, but there's diminishing returns as the price gets higher.
  - davidgerard 5y ago
    it also has to have any market depth at that price - you can drop the BTC price $3,000 by selling $1m worth just lately, imagine having to cash out $1b "worth" into actual money not to mention the US miners who have a "stockpile" of $1b of BTC, apparently for every possible reason other than "actual-dollar liquidity doesn't exist to sell it without crashing the price"
    - writetoalok 5y ago
      “Past performance is no guarantee of future returns!”
  - sjtindell 5y ago
    I agree there can be sometimes. But I heard the same thing at $0.01 and $1. “It’s already gone up so much.” I heard the same at $10 and $100 and $1000 and…
    - deleted 5y ago
      [deleted]
- 1270018080 5y ago
  At no time since the tulip bubble has the phrase "past returns are not indicative of future performance" been more relevant.
- imtringued 5y ago
  Ok, but if it goes up that much, why would anyone want to use it as legal tender?

bob331 5y ago

Lol bitcoin and this failed state are a perfect match

bellyfullofbac 5y ago

Someone want to remix The Monorail Song? https://www.youtube.com/watch?v=ZDOI0cq6GZM https://www.youtube.com/watch?v=ZDOI0cq6GZM Make an NFT out of it and you'll be rich!

hereme888 5y ago

Can't help but remember how people hated on Bukele when he bought BTC in the 28-32k range...we'll see how it works out in the next 2 years. Since large institutional investment in BTC keeps increasing, I think the project will do well.

mvindahl 5y ago

Tired: Fyre Festival Wired: Coinbros on Fire Festival