{"id":2100,"date":"2024-12-21T18:20:42","date_gmt":"2024-12-21T18:20:42","guid":{"rendered":"https:\/\/mar101xy.com\/blog\/?p=2100"},"modified":"2024-12-21T18:20:43","modified_gmt":"2024-12-21T18:20:43","slug":"el-salvador-their-bitcoin-lies","status":"publish","type":"post","link":"https:\/\/mar101xy.com\/blog\/?p=2100","title":{"rendered":"El Salvador &amp; their Bitcoin lies."},"content":{"rendered":"\n<p>El Salvador is now abandoning its government-created Bitcoin app, Chivo, and repealing the law that forced its citizens to accept Bitcoin.<\/p>\n\n\n\n<p>Was forcing people to use Bitcoin really &#8220;freedom&#8221;? That\u2019s a laugh. While I love Bitcoin, forcing a population to use a specific currency is more akin to authoritarianism than freedom. This kind of intervention is closer to a form of state control than true economic liberty.<\/p>\n\n\n\n<p>The government also had no business creating an app. It&#8217;s the free market&#8217;s role to innovate and create solutions, not the state\u2019s. After years of development, what did we get with Chivo? A poorly executed, buggy app that led to significant fraud and mismanagement.<\/p>\n\n\n\n<p>Let\u2019s not forget the so-called Bitcoin City that they promised to build, or the mysterious &#8220;volcano mining&#8221; initiative where they never disclosed how much Bitcoin was actually being mined. It was all part of a larger PR stunt designed to create hype without any substance behind it.<\/p>\n\n\n\n<p>So much of the excitement around El Salvador\u2019s Bitcoin initiatives has been exaggerated. What\u2019s their end goal with all the Bitcoin they hold? Time will tell, but I wouldn\u2019t be surprised if they mismanage that too.<\/p>\n\n\n\n<p>El Salvador was never truly a &#8220;Bitcoin country&#8221;\u2014that was a narrative spun by the government. The truth is, we should never trust governments, even those that claim to be pro-Bitcoin.<\/p>\n\n\n\n<p>The adoption of Bitcoin will be driven by the free market, not government mandates.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<!--more-->\n\n\n\n<br>\n<a href=\"https:\/\/media.letsfo.com\/image\/el-salvador-was-never-bitcoin-country.MhE2\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/media.letsfo.com\/images\/2024\/12\/20\/el-salvador-was-never-bitcoin-country.webp\" alt=\"el salvador was never bitcoin country\" border=\"0\"><\/a>\n<br>\n<br>\n\n\n\n<p>\n    Note ID:\n    <br>\n    <code id=\"nostrNote\" style=\"word-wrap: break-word; white-space: normal;\">note1dp5t9rtehfhc6xu6dk8k6nvzsqpawy2ax8jc9qmqdgt2rhhypxns859x9p\n    <\/code>\n    <br>\n    <button onclick=\"copyToClipboard('nostrNote')\">Copy<\/button>\n<\/p>\n\n\n\n<a href=\"https:\/\/btcpay.letsfo.com\/apps\/cyXxp1RKxQnN8bpQJjvwSEHjXbP\/pos\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/mar101xy.com\/images\/zapmar.png\"><\/a>Post#132\n","protected":false},"excerpt":{"rendered":"<p>El Salvador is now abandoning its government-created Bitcoin app, Chivo, and repealing the law that forced its citizens to accept Bitcoin. Was forcing people to<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[132],"tags":[13,155],"class_list":["post-2100","post","type-post","status-publish","format-standard","hentry","category-social-media","tag-bitcoin","tag-el-salvador"],"_links":{"self":[{"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2100"}],"version-history":[{"count":1,"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2100\/revisions"}],"predecessor-version":[{"id":2101,"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2100\/revisions\/2101"}],"wp:attachment":[{"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mar101xy.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}