Replies (110)

Ubuntu 's avatar
Ubuntu 10 months ago
Isn’t State owned Bitcoin already public?
to be fair, a creditor should confirm assets so this doesnt seem like a surprise to me when getting a loan. surprised they didnt ask for a multisig key share.
El Salvador becomes the first nation state to submit KYC information to the IMF.
Vveerrgg's avatar
Vveerrgg 10 months ago
i love it ... the IMF is gonna get served a hot cup of "FTW" from El Salvador. Tick Tock, Next Block... The proof is on the chain. They can't deny, what's plain to find, El Salvador found the way. SATs to Coins, from debts to mines; it's the IMF that should be scared. 'Cause we all know, what El Salvador knows... The revolution is hashing our way.
With the help of AI 1. Bitcoin Address Disclosure (Public Sector Only) • The government must submit a signed statement to the IMF identifying all hot and cold wallet public addresses controlled by the public sector. • This includes wallets owned by government entities and state-controlled legal persons. • The requirement does not apply to private individuals or businesses. 2. Chivo Wallet and Public Participation • The government must stop using public funds for Chivo (the state-backed Bitcoin wallet) and end public participation in it by July 2025. • The Bitcoin trust fund (Fidebitcoin) must be liquidated. • Financial statements of Chivo must be audited by an independent expert with crypto experience. 3. Government-Owned Bitcoin and Transparency • A framework must be put in place to manage Bitcoin and other crypto assets held by the government. • This includes defining investment guidelines, risk minimization policies, and governance structures. Does This Mean Bitcoin Addresses Will Be Doxxed? For public sector wallets, yes—the government must disclose them to the IMF. However, private citizens’ wallets are not included in this requirement. This move is framed as a way to improve transparency and reduce financial risks. Good or Bad for Bitcoiners? • Bad for those who wanted full government adoption since it reduces the state’s direct involvement with Bitcoin. • Good for transparency because it forces accountability on public Bitcoin funds. • Neutral for private users as their personal Bitcoin holdings remain unaffected by these rules.
Am I the only person that sees this as the IMF investing in bitcoin. If it goes to zero they don’t get paid back.
🤔 generally speaking I don’t think risk is related to transparency in a business context. Systematic risk can’t be eliminated, only unsystematic risk can be and that is through diversification. The market risk premium is a reward for taking on the risk and this is the formula that most businesses use which is capm = expected return on stock i = risk free rate(so like a long-term 10 year government bond average or something) + 𝛽i ∗ (expected return on the market portfolio− 𝑅isk free rate]. Though I don’t know if this relevant to this particular situation. Could be though.
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Deleted Account 10 months ago
Bro I love you I really do I love your content don’t take this the wrong way but cmon lol You people buy corn on KYC exchanges support and invest in KYC exchanges then want to be alarmed by the IMF knowing bitcoin wallets like the us govt doesn’t have the info on its citizens via KYC exchanges your company invests in lol come on good brother
elOroReal's avatar
elOroReal 10 months ago
El Salvador’s plan is the fastest way to get out from IMF debt slavery. Other countries should be following their lead to get out from the yoke of the IMF and on to self sovereignty. Saludos a @npub18shl...80vy !!
Play stupid games, win stupid prizes.
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keunoak 10 months ago
You can't make this shit up!!
Chad Lupkes's avatar
Chad Lupkes 10 months ago
Actually there is a better way. Instead of collecting in a wallet, they could be focused on hash and building the mining industry so they can supplement and then replace taxes as the source for government revenue. then pay off the IMF debt entirely with sufficient revenue to never be subject to the IMF slavery again.
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npub1r3yg...v4ls 10 months ago
This is the normal behavior of a bank lending money. But Bukele should also provide the citizens of ES with the same information to ensure transparency.
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Asdf 10 months ago
maybe it is better if governments are transparent? 🤔
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npub1ah3a...l76e 10 months ago
Not happy for this outcome. Since Bitcoiners got embraced by TradFi they let down their guards. No more adversarial thinking. Huge self-own that will likely take down some Bitcoiners. You ridicule Monero all the way until you face the consequences of your ignorance. #IMFgate
HoloKat's avatar
HoloKat 10 months ago
Yeah that’s not what I was talking about …
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npub1jext...s82z 10 months ago
Don't they stack with Coinbase or some other nonsense like that? I was under the impression they didn't hold their own keys.
Javier's avatar
Javier 10 months ago
All governments are bad. ALL. There has been not an exception EVER. And there will never be.
this is truly insane, barking orders to a sovereign country... I hope Bukele doesn't comply.
Sooner or later, most bitcoin users will have to fill the same shit for their countries authorities too. Thats the magic of saving your wealth on a public, transparent ledger.
BoomTown's avatar
BoomTown 10 months ago
Feels like the opposition has landed a few body blows these last 6 weeks.
Motherfuckers arent so stupid and use a public, transparent ledger :)
Henry 's avatar
Henry 10 months ago
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This is very problematic… I wonder why they are going along with it. Sounds like control issue similar to the reason we ended up with the fed reserve..
Should we wait and see if they actually comply?
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Of all the things the IMF forces, this one seems like an actually good idea? If you’re a creditor you should probably check that the credited has the assets they claim to.
Let's hope he's playing 4D chess here. But most likely yet another latin american cuck bending to the IMF
Zarko's avatar
Zarko 10 months ago
and so, it begins ...
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nobody 10 months ago
Wow. Im shocked. Who could’ve seen this coming?!? image
FreeYoda's avatar
FreeYoda 10 months ago
Not sure. It is not up to money to fix governments? Even if you would have perfect private money what use would it be if you where left rotting in a isolation cell ? Starve the beast.
More bending the knee to the IMF
How do you starve a beast with the monopoly on violence with a public, transparent ledger?
This is deeply concerning bc Trump is likely to do the following: “Their real interest lies in replacing the dollar with a digital currency that they can control and linking our rights and freedom to it through mass digital surveillance.”
FreeYoda's avatar
FreeYoda 10 months ago
What does a non-transparent ledger solve with regards to a monopoly on violence ?
FreeYoda's avatar
FreeYoda 10 months ago
That is why I would like to better understand. Even the statement El Salvador will keep buying #Bitcoin is bold but why did they took a loan to start with ? Could be they are not ready to give the IMF a public middle finger (buying #Bitcoin with it would be bold!).
If you do not know who has how much and who transacts with whom - where do you apply the violence?
I do not have a monopoly on violence. But the state has. And the state also knows your addresses if you ever interacted with a KYC exchange. Got it?
PODCONF's avatar
PODCONF 10 months ago
This is called compliance.
FreeYoda's avatar
FreeYoda 10 months ago
You are mixing up so many convictions without having them thought out yourself. Yes Monero provides more privacy, in fact too much. And still that won't protect anyone from the government violence monopoly. You can do some thinking for yourself or just stick with Monero if you are content. No problem.
"You are mixing up so many convictions without having them thought out yourself." - tell me which? I did not even mention monero.
FreeYoda's avatar
FreeYoda 10 months ago
Usually people with your arguments cone up with Monero. Next it is the only alt coin worth discussing because it think it is not an outright scam, but most seduced by it don't understand the properties they have so high valued. So it is worth to try e plain. Unfortunately there is a very active and toxic Monero fans base that makes discussing it impossible. That should trigger most.
looks like you are having a conversation with yourself. not related to what i wrote.
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OG 9 months ago
In a world where the rich and powerful have a price, this is inevitable. I was considering relocation to El Salvador, a place where Bitcoiners could feel safe for once not anymore. I believed in Compliance too until I learnt first hand exactly what they use the information for.