Yes, many of you thought I would go and break into El Salvador hot news on the announcement day. But I did not. Why? Considering an announcement from this colossal impact is mainly done by people who want to create some attention, and you all know this. Talk big and noisy and a little product is a good sale .
But and therefore, I am now in the circumstance in a country that is as big as a country state in Germany and has a small crowd of people who recognize their problems and will help.
You read a lot about this country in the past few days. Everyone now knows that 70% are unbanked and can imagine now what it means if 2/3 of our population is poor and unbanked.
Nayeb Bukele is a man full of visions and a future optimistic president. However, he fights his position and understands if you want to solve the problems in your country, you need a democratic dictator; otherwise, people will discuss forever without a solution.
We have read thousands of articles from foreign ministries and news. Finally, the citizen and the governments are ordinary people with typical problems created by the world economic forum and the society of money.
Bukele has studied bitcoin. I do not believe he woke up one morning and got the idea to invent a tesla. He is an economist and a techy. He grows up in an age where Bitcoin came out, and he knows about the economy in Bitcoin. You see how fast people are flooded with information. This was a step that existed in his head, and then he brought it to paper by building a relationship. This, of course, was a long-term decision, but as you see, he acts very fast, and when we talk about the long-term, this means a couple of weeks. He just took the opportunity.
First of all, you will think – Why Bitcoin? Why Bitcoin? It is too slow, the volatility is high, and it is used for drug lords and shady business. And of course, the energy – unbelievable!!!!
The reasons why you think in this way are easy to explain:
- Less education in Bitcoin
- Fear created from Scams, AltCoins, and banks
- Haven’t got any idea of power management in the world
- Thinking carbon is our problem
- Depending on the old banking system and can’t let go
- Do not understand the regulatory of a system in a self-control mechanism
- Do not understand that every money, no matter the source in Bitcoin, creates value for everyone and not a single entity
- You are a control freak and can’t accept self-sovereigns.
- You think Elon Musk was reasonable for the Bitcoin price crash
El Salvador changed the fear into hope and wiped out the concerns named above. We learned from the pandemic that only a fearless country is a free country. But if your debts rise and you can’t make an effort to benefit the rest of the world in a way you are getting powerful, you must think out of the box. A strong leader needs strong support. If your country is reaching and gives back the value in exchange for the citizen’s trust, the government is the best to live in today. Bitcoin satisfies all these necessary if the economy is ultimately shifting to the Bitcoin economy.
What you see is only the beginning of the technology solution like getting mining power from the volcanos geothermic. Moreover, you will see how Bitcoin leads in opportunities and business models which are more efficient and self-fundable than any other product. El Salvador would become the new Monaco if they willed to go the right way and say good-by to old stats and thoughts.
Congratulation on this big step!
It will have an impact on the Bitcoin price all over the world. And of course, it could be the way for a bit of country become a world leader in the business model.
Written by : Prof. (Dr.) h. c. Joerg Molt