El Salvador is NOT in the Green lel \ stacker news ~bitcoin

6308 sats \ 32 comments \ @nerd2ninja 4 Dec 2023 bitcoin

The screenshot Bukele posted in his tweet see here is from this website: https://nayibtracker.com/

That website now has this message and has corrected its charts

Due to an error, some reported purchases were counted twice which resulted in incorrect totals. This has been fixed (12/4/2023).

So the politician referenced a website making best guesses based on HIS TWEETS instead of referencing his own data from his own accounting, and that website has now made adjustments due to incorrect counting.

Guys....this is ridiculous. Bukele has charisma, but charisma is almost an opposing characteristic of trustworthiness. Please don't forget, he's still a politician only trying to make himself look good.

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310 sats \ 0 replies \ @TheBTCManual 5 Dec 2023

Whatever happened to don't trust verify? As if it's so hard to prove on-chain your funds, which are public funds, which are the funds of the taxpayer, Lol this gives me heavy CSW vibes, I'll sign for you in private yeah sure buddy

The comments on that thread wow, microwave brains and grifters all foaming at the mouth, a lot of people are tethering themselves to this "project" and boy could this be a major egg-on-face moment

937 sats \ 2 replies \ @siggy47 4 Dec 2023

Good point. I'm actually happy to see that there is some independent proof that he bought ANY bitcoin.

494 sats \ 1 reply \ @OT 4 Dec 2023

Yeah, when did this 1 BTC per day start and end?

0 sats \ 0 replies \ @nerd2ninja OP 4 Dec 2023

We don't know with certainty. The website (https://nayibtracker.com/) is charting based on tweets. That particular one is this tweet: https://nitter.net/nayibbukele/status/1593113857261965312

818 sats \ 0 replies \ @DarthCoin 4 Dec 2023

I really like when more people are seeing clearly...

521 sats \ 2 replies \ @pillar 4 Dec 2023

Ah, you are fact-checking news that tickle your bias? We don't do that here, sorry.

122 sats \ 1 reply \ @nerd2ninja OP 4 Dec 2023

I fact check news that I want to be true so I don't look like an idiot later when I use it as evidence for an argument.

We are not the same lmao

120 sats \ 0 replies \ @pillar 4 Dec 2023

Well done. It seems you would do a better job than most presidents.

496 sats \ 1 reply \ @SimpleStacker 4 Dec 2023

Finding someone who knows how to not double count isn't so easy, let me tell ya

1 sat \ 0 replies \ @nerd2ninja OP 4 Dec 2023

This is not what we meant when we said "Double entry accounting" dammit

54 sats \ 0 replies \ @Natalia 4 Dec 2023

he's still a politician only trying to make himself look good.

yes 🫡

With the current #Bitcoin market price, if we were to sell our #Bitcoin, we would not only recover 100% of our investment but also make a profit of $3 620 277.13 USD (as of this moment).

Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy.

Nonetheless, it is important that the naysayers and the authors of those hit pieces take back their statements. The responsible thing to do would be for them to issue retractions, offer apologies, or, at the very least, acknowledge that El Salvador is now yielding a profit, just as they repeatedly reported that we were incurring losses.

investment yielding a profit

33 sats \ 8 replies \ @fm 4 Dec 2023

wait.. Doesnt he state he is in black instead of green,

What have i missed?

10 sats \ 7 replies \ @nerd2ninja OP 4 Dec 2023

"In the black" and "in the green" mean the same thing. "In the red" only means the inverse. https://www.investopedia.com/terms/b/black.asp

0 sats \ 6 replies \ @fm 4 Dec 2023

as i understand, Black - close to break even with low taxes to pay green - gaining money and being taxed for it..

Clearly, being on black mean you can turn to red quicker than if you are on green

10 sats \ 4 replies \ @nerd2ninja OP 4 Dec 2023

Okay, I'd like a source on that interpretation, but okay. They weren't in the black either by the definition you have presented.

0 sats \ 3 replies \ @fm 4 Dec 2023

Clearly, being on black mean you can turn to red quicker than if you are on green

This is on the same page you commented

10 sats \ 2 replies \ @nerd2ninja OP 4 Dec 2023

The word "green" doesn't even show on the investopedia page I linked, and especially no distinction is made between being in the green vs in the black like you have asserted.

0 sats \ 0 replies \ @fm 4 Dec 2023

i probably messed up.. Its not on investopedia...

From an accounting perspective, your income statement shows whether a business is in the green, black or red. Green means you have an operating profit, black means you are around break-even and red means you don't have enough revenue to meet operating expenses.

You get this from other sites, but those are not very solid references.

0 sats \ 0 replies \ @fm 4 Dec 2023

let me try to find the reference.. i probably got it from other page and messed up.. let me look into my recent pages.

0 sats \ 0 replies \ @senf 4 Dec 2023

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120 sats \ 0 replies \ @DarthCoin 4 Dec 2023

Please don't forget, he's still a politician only trying to make himself look good.

THIS

0 sats \ 0 replies \ @IgnaciobTato 5 Dec 2023

Since Bukele announced the changed of Policy to buy 1 BTC a day, they are in Green for Sure.

0 sats \ 0 replies \ @sudonaka 5 Dec 2023

Who the fuck cares

0 sats \ 0 replies \ @BitcoinIsTheFuture 5 Dec 2023

The El Salvador narrative should be about country adoption of Bitcoin as a currency. It’s the first country to declare it legal tender. Who cares if Bukele bought the dip. How does that help drive adaptation in his country? What about the volcano bonds? The small business owners getting ~100% of sales not losing 3% on credit card fees or losing money with the inflation of the US dollar. How has it made his citizens better?

Let’s be clear the other country that declared Bitcoin as legal tender was the Central African Republic and that failed big time and they have removed it.

We don’t need Bitcoin to be recognized as legal tender for it to be successful, BUT it helps. It helps to speed up adoption and spread the word that we are for real! We have a movement and can’t be stopped. First they laugh at us, then they fight us!

0 sats \ 0 replies \ @0xIlmari 4 Dec 2023

It doesn't even matter. Why does the whole world get excited by someone's mere $100M non-investment?

0 sats \ 0 replies \ @knorozov 4 Dec 2023

He's also latino and that's how things roll around here 8-))

0 sats \ 0 replies \ @021da48107 4 Dec 2023

Now we get to see if he takes his own advice and will update this post with this new info.

0 sats \ 0 replies \ @justBrian 4 Dec 2023

Lol it might as well have been a screenshot from his personal coinbase acct. Terrible.

0 sats \ 0 replies \ @Zepasta 4 Dec 2023

Ridiculous.

0 sats \ 2 replies \ @Bitman 4 Dec 2023

I'm kinda confused. I can't see a reference or link from his feed to suggest he's based his announcement on that site.

Do his figures and the figures on the site both match - is that what indicates he's relying on an external source, and not his own figures?

Also, if the site has since made a correction - could this imply that ES still might be in the red - or just not so buoyant?

It does all seem pretty incompetent though.

2 sats \ 1 reply \ @nerd2ninja OP 4 Dec 2023

He linked a literal screenshot of the chart from that website in his tweet.

653 sats \ 0 replies \ @Bitman 4 Dec 2023

Ah, I turned off images a few days ago to save data. Maybe I should switch again as I'm back on WiFi...