El Salvador makes Bitcoin legal tender

Re:El Salvador makes Bitcoin legal tender by viraptor on Wednesday June 09, 2021 @10:45AM (#27448479)

The WU fees are likely so high because they can be. If there's no competition, why not rake profits? I'm curious what the fees will be in a few weeks.

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Re:El Salvador makes Bitcoin legal tender by 52-6F-62 on Wednesday June 09, 2021 @10:52AM (#27448579)

If you are the only financial service for a large population, why not take them for all they're worth?

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Re:El Salvador makes Bitcoin legal tender by viraptor on Wednesday June 09, 2021 @06:32PM (#27454152)

Because you push the government to legislate an alternative on an immediate country-wide level. At their scale they could've been taking smaller profit for many years without poking the bear.

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Re:El Salvador makes Bitcoin legal tender by 52-6F-62 on Friday June 11, 2021 @10:03AM (#27473465)

I think you misunderstand. I was rephrasing your statement "Why not take profits" to reflect the reality of WU's role in El Salvador.

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Re:El Salvador makes Bitcoin legal tender by ccortes on Wednesday June 09, 2021 @10:58AM (#27448654)

Not only that, but handling cash is expensive

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Re:El Salvador makes Bitcoin legal tender by kristjansson on Wednesday June 09, 2021 @11:13AM (#27448860)

Yeah, operating a cash-heavy business _in El Salvador_ probably has some costs.

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