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A comment on El Salvador adopts Bitcoin as official currency, first country to do so. Parent comment

Re:El Salvador adopts Bitcoin as official currency, first co... by bee_rider on Tuesday September 07, 2021 @01:04PM (#28447149)
I suspect the number of people who would actually do this sort of thing is quite minuscule. They could probably be handled with something like "Well tourist, the cops here think it is a civil matter so you can spend the rest of your vacation dealing with the local legal system if you really want to buy everything in this random shop for some reason."

I suspect more likely some rich people will find it more convenient to pay their tax bill.

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Re:El Salvador adopts Bitcoin as official currency, first co... by throwdecro on Tuesday September 07, 2021 @01:11PM (#28447228)
I didn't mean one tourist buying everything (which would be problematic no matter what the currency was), I meant in the aggregate. I've added an edit to my comment to clarify.
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Re:El Salvador adopts Bitcoin as official currency, first co... by bee_rider on Tuesday September 07, 2021 @05:10PM (#28450004)
Bitcoins are currently at $45k, so I guess this would mostly just be an issue at a luxury car place, which... should probably prepare to handle these types of transactions I guess. But that's not like Grandpa's Little Old General Store, so I bet they can handle it.

I'm actually curious how this will be implemented specifically. I guess (although I'm not well-informed on the ecosystem) that most of the places that let you do small cryptocoin transaction either use some smaller coin, or they must have some way of doing fractions of a bitcoin, right? In which case, the fraction system would have to be proprietary, I guess? I can't imagine the law required shopkeepers to use any particular proprietary exchange...

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Re:El Salvador adopts Bitcoin as official currency, first co... by topranks on Wednesday September 08, 2021 @02:29PM (#28461199)
Bitcoin was always designed to allow fractions of 1 coin.

Its fundamental unit it the "Satoshi", of which there are 100 million in a "Bitcoin".

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