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A comment on El Salvador’s new Bitcoin wallets could cost Western Union $400M a year. Parent comment

Re:El Salvador’s new Bitcoin wallets could cost Western Unio... by Geee on Thursday September 09, 2021 @10:11AM (#28469890)
Other side of the coin is that they want independence from US dollar. They suffer from inflation, but can't print it for themselves.

They also believe that world will eventually move onto Bitcoin standard, and being the first adopter is beneficial for them.

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Re:El Salvador’s new Bitcoin wallets could cost Western Unio... by el-salvador on Thursday September 09, 2021 @10:21AM (#28469984)
El Salvador's inflation is low compared to other Latin American countries.

https://tradingeconomics.com/country-list/inflation-rate?con...

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Re:El Salvador’s new Bitcoin wallets could cost Western Unio... by betwixthewires on Thursday September 09, 2021 @01:52PM (#28472560)
They're talking about monetary inflation, not price inflation.

El Salvador uses the USD, so if the federal reserve bank of the US prints money it devalues their currency as well. Not a good position to be in as a sovereign nation.

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