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Topic Title: El Salvador's transition to bitcoin.
Topic Summary: A big experiment.
Created On: 11/15/2021 05:34 AM
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 11/15/2021 05:34 AM
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johnnyboy

Posts: 20871
Joined Forum: 07/22/2003

http://www.politico.eu/article...ability-nayib-bukele/

It's a mixed bag for sure. The country used El Zonte as it's prototype. One big advantage is that Salvadorans living in the US can send remittances without fees. Huge disadvantage, the volatility.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

 11/28/2021 07:51 PM
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stokedpanda

Posts: 4215
Joined Forum: 09/04/2015

pretty cool

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 12/02/2021 12:56 PM
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ww

Posts: 15335
Joined Forum: 08/17/2007

The volatility and general uselessness of Bitcoin is a big problem. Remittances, possibly a good reason for adopting.
 12/02/2021 04:13 PM
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stokedpanda

Posts: 4215
Joined Forum: 09/04/2015

I have heard some good arguments of bitcoin vs the fiat standard- paper money is pretty useless as well- barely flammable lol

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