El Salvador's Bitcoin use grows but headaches persist

Re:El Salvador's Bitcoin use grows but headaches persist by fleddr on Thursday October 07, 2021 @06:11PM (#28792751)

Then you swap it instantly to USD, which is part of the implementation.

So citizens can chose. Conservative ones pick USD for its stability, others may pick BTC. Which has appreciated by 200% for 12 years straight, but hey, who's counting.

Or, mix it up. 75% USD, 25% BTC. So...what is the problem again?

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Re:El Salvador's Bitcoin use grows but headaches persist by wsatb on Friday October 08, 2021 @06:59PM (#28805074)

The problem is it is only advantageous to hold BTC for those that can assume that risk. It's not being "conservative", they have no choice. If you're living paycheck-to-paycheck and the price collapses while you're sleeping, how do you eat the next day?

This ultimately means the rich get richer and the poor get poorer.

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Re:El Salvador's Bitcoin use grows but headaches persist by gus_massa on Thursday October 07, 2021 @06:14PM (#28792782)

Real green USD or just USDT? Can they get the USD in cash? What is the extraction fee?

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Re:El Salvador's Bitcoin use grows but headaches persist by fleddr on Thursday October 07, 2021 @06:33PM (#28792950)

Real dollars, and zero.

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