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

davidgerard.co.uk

24 points·davidgerard··12 comments

"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.

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.

Yes, but there's diminishing returns as the price gets higher.

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…

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"

“Past performance is no guarantee of future returns!”

At no time since the tulip bubble has the phrase "past returns are not indicative of future performance" been more relevant.

Ok, but if it goes up that much, why would anyone want to use it as legal tender?

I wonder how much el presidente is getting from BlockStream.

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.

Someone want to remix The Monorail Song? https://www.youtube.com/watch?v=ZDOI0cq6GZM

Make an NFT out of it and you'll be rich!

Tired: Fyre Festival

Wired: Coinbros on Fire Festival

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