Re:El Salvador abandons Bitcoin as legal tender after failed...
by JumpCrisscross on Monday February 03, 2025 @09:51PM
(#42927122)
> this was clearly something else than a failure of the currency itself
They needed the loan. The original thesis was taxes on crypto bros’ business and tourism would increase revenues while crypto-based lending would provide an alternative to the IMF. Neither panned out. This was a failure of Bitcoin to provide any of the international benefits of the dollar financial system.
They needed the loan. The original thesis was taxes on crypto bros’ business and tourism would increase revenues while crypto-based lending would provide an alternative to the IMF. Neither panned out. This was a failure of Bitcoin to provide any of the international benefits of the dollar financial system.