Bitcoin News
By Dan Saada
1 / 11
Reportedly,Nayib Bukele, president of El Salvador, expressed that he intends to make Bitcoin (BTC) Legal Tender in his country.
2 / 11
Onlookers were like: The spectacle of Bitcoin fans celebrating the prospective granting of legal tender status to it by El Salvador's authoritarian President (he only just…
3 / 11
*For example, in Scotland there is no such thing as legal tender. Yet both Scottish banknotes and (less frequently) Bank of England notes are routinely accepted in payments there.
4 / 11
They were only accepted at a discount on the west coast, where gold remained the preferred medium of account and exchange.
5 / 11
Isn’t the bigger news that BTC will be held as reserves?
6 / 11
Others were like: And in any event, I think the celebration is just a step towards adoption.
7 / 11
Clearly you don't understand what motivates Bitcoiners. We want Hyper-bitcoinization. Countries adopting Bitcoin and holding it in their treasuries is the biggest step to get…
8 / 11
Does it really matter whether the state is authoritarian or not? In the long run Bitcoin would progressively erode state control.
9 / 11
To be clear, you think, given 70% of the population is unbanked, and being on-boarded to remittances (20% of GDP) running on bitcoin rails at a clip of 20k/day, to negligible…
10 / 11
I figured you would protest when a government finally and inevitably would do this. Here’s the thing: this thug can’t control Bitcoin.
11 / 11
Japan made bitcoin legal tender years ago. Nobody uses it as such because it’s volatile, unscalable, expensive and difficult for end users.
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