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A comment on El Salvador abandons Bitcoin as legal tender after failed experiment. Parent comment

Re:El Salvador abandons Bitcoin as legal tender after failed... by a1371 on Monday February 03, 2025 @07:19PM (#42925429)
Imagine you have 6,050 bitcoins but they didn't work out for you the way that you hoped. The most reasonable thing to do is to still advertise a bullish position because otherwise you are devaluing your own asset.

There is a strong sentiment around bitcoin in El Salvador and it can make them money; but the experiment around it being a legal tender, well, failed.

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Re:El Salvador abandons Bitcoin as legal tender after failed... by readthenotes1 on Monday February 03, 2025 @08:27PM (#42926209)
They only doubled and tripled in value. Gotta wonder what you think they expected
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Re:El Salvador abandons Bitcoin as legal tender after failed... by Torn on Monday February 03, 2025 @09:07PM (#42926657)
It to be a viable currency? Not a speculative asset?
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Re:El Salvador abandons Bitcoin as legal tender after failed... by FollowingTheDao on Monday February 03, 2025 @08:41PM (#42926366)
That’s called a rug pull IRL.
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