I already predicted (in private #crypto circles and with friends) that the #BTC experiment in #ElSalvador would go awry and end up being a net loss in PR for crypto in general.

This is my new prediction:

Before the end of this year, we will have evidence that at least one relevant person or organisation with an anti-bitcoin agenda in the short term (ill-)advised the Salvadorean government or their contractors, or actively worked on this new legislation or its technical implementation, with the goal of damaging the reputation of #bitcoin, causing a price drop, or delaying/preventing endorsement or adoption by other governments or by big companies.

This could be (eg): a financial regulator or watchdog in a developed country with an interest in preserving the status quo, an investment fund trying to groom the market before going all in, a “whale” who is short (even privately) on BTC, a large bank with an interest in boycotting, some resourceful think tank or non-profit with a strong conservative or progressive bent, etc.

@tripu The whole thing didn't start with some corporate or government advisers. It started with a grassroots community effort in El Zonte ("Bitcoin Beach"), and a bitcoin-backed app used for USD-to-USD(C/T) remittances (Strike). Almost a quarter of SV's GDP is coming in via remittance payments, while the majority of people do not have bank accounts, sometimes traveling by bus for hours on end to the next WU office.

Where exactly in this story does the shady corporate advisor fit in?


@tripu The people working on the implementation had to necessarily be people from within the bitcoin community, because nobody would even be able to learn enough about both bitcoin and Lightning Network to make this happen within their crazy time limit of just 90 days.

@tripu ... You can hear from a lot of the implementors in various community podcasts. It's also not just the government implementing via Chivo wallet. The larger companies aren't using the government app, but are integrating directly in their own systems via providers, like e.g. OpenNode. Here's one such example:


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