46 sats \ 3 replies \ @Atreus 30 Oct 2022 \ parent \ on: What happened to vulcano mining? bitcoin
TLDR:
People were interested when YouTube said "BTC would hit $200,000 in 2022" — and instead the bear market hit.
(Which, I would add, several people accurately predicted!).
There's a lot of (often politically motivated) criticism in ES against Bukele over Bitcoin's subsequent fall in price. He entered the market close to the ATH and his many domestic enemies in the other political factions — who largely control the domestic media in ES I would add — are milking that for all it's worth.
So it's harder during the bear market to bring together support for large-scale BTC projects of that nature. But "harder" isn't impossible; he is very popular among the majority of Salvadorans (I happen to be one), and he has a lot of help from the greater Bitcoin community.
Also, these things take time. If last year was the 1903 Wright Flyer in El Salvador, it's only 1904 now. We'll all have to work and see (not 'wait and see') what happens.
This was a decent Travel review to, good to see!
This misunderstood country might be the most underrated winter sun option on Earth
https://www.telegraph.co.uk/travel/destinations/central-america/el-salvador/why-el-salvador-might-underrated-winter-sun-option-earth 12ft proxy Archive
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It's a very nice country and I do recommend visiting if you can, especially as Bitcoin develops. The food (pupusas) is great.
It used to have an absolutely dreadful problem with gangs and murders, which were "helped along" by past administrations' tacit agreements with the gangs. Bukele has finally made immense progress toward resolving that, which, far more than Bitcoin adoption (most people don't understand it yet), is the biggest reason for his popularity.
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They may also have been initially seeing interest in the "volcano bonds" from traditional bond investors -- who then discovered that this isn't a "bond", but instead corporate debt (i.e., is not issued by the state).
Anyone with access to Bitfinex, which is prohibited in countries including the United States, United Kingdom and Canada, will be able to purchase Volcano Tokens. The exchange is anticipating a largely retail audience, as larger institutions may have internal policies prohibiting participation, a spokesperson from Bitfinex said.
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