We are now in DAY 51 since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April)
It was obvious from the start that most people were unaware of how IMF loans work & why nations ask for them anyway. It was also obvious that the El Salvador govt had no interest in people learning about either--and when govt tells you to stop asking questions, is exactly when you should be asking questions
It was an uphill battle that is now won
There are lots of people asking these questions now
Ironically, what did it for many Bitcoiners was @nayibbukele himself who addressed the concerns in a tweet--by calling anyone who questions him a 'whiner'
lol. this is the head of a nation
anyway, his immature projection of 'bitcoiners abandoning El Salvador' created a critical mass of people starting to look closer and realize things are not adding up
that critical mass with many Salvadoreans was the saga that played out on facebook regarding Chivo Pets. In summary, the govt annouced they were closing Chivo Pets (likely related to the IMF agreement) and got lots of backlash from the local population. The president blamed Salvadoreans, saying they complained too much and thats why it was closing. A day later Chivo Pets was re-opened (it operated at a loss, subsidized by Chivo Wallet which now must be shut down or sold off. I suppose Chivo Pets will move to a new govt dept that can absorb the loss now)
Let's pause a second and compare the two situations
Both were prompted by the IMF loan, but in both instances rather than explain things openly and honestly the president blamed whoever was asking questions. And in both cases the president ended up calling more attention to the situation and has left more people pondering for themselves what is reality and what is just marketing
There are tons of people who will support, without question, whatever this govt and pres does. But, the number of people who are thinking independently about what IMF loans are and why a govt would ask for one anyway is now MUCH higher then it was 51 short days ago
I'll continue to ask questions. Always
I'll continue to speak truth to power. Always
This journey has been liberating and enlightening but at this point my orginal objectives have all been achieved
This isn't the end. This is the beginning. Grassroots bitcoin education & adoption is more important than ever in El Salvador & beyond
Step one is understanding the problem--how the IMF and govt work is advanced financial literacy
Step two is building the solutions. Support everyone who is building toward an alternative future--one without institutions like the IMF nor unquestioning loyalty to any politician or govt
