El Salvador abandons Bitcoin as legal tender after failed experiment

Re:El Salvador abandons Bitcoin as legal tender after failed... by oneeyedpigeon on Tuesday February 04, 2025 @04:55AM (#42930394)

Sure, my point was that there are many reasons someone might spend money today that might be better off saved for the future, however much it may increase in value.

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Re:El Salvador abandons Bitcoin as legal tender after failed... by troupo on Tuesday February 04, 2025 @08:14AM (#42931884)

> there are many reasons someone might spend money today

Yes, because that's the value of money. Bitcoin isn't money. It's a speculative asset precisely because people are hoping its value will only go up.

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Re:El Salvador abandons Bitcoin as legal tender after failed... by oneeyedpigeon on Tuesday February 04, 2025 @09:57AM (#42933147)

I'm speaking from experience. I literally spent Bitcoin last week that I would rather have held, because I needed the money.

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Re:El Salvador abandons Bitcoin as legal tender after failed... by troupo on Tuesday February 04, 2025 @10:25AM (#42933511)

And yet, en masse Bitcoin is used as speculative investment, not money.

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Re:El Salvador abandons Bitcoin as legal tender after failed... by npoc on Wednesday February 05, 2025 @07:57AM (#42947847)

All investments are speculative.

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Re:El Salvador abandons Bitcoin as legal tender after failed... by robertlagrant on Tuesday February 04, 2025 @11:14AM (#42934307)

> It's a speculative asset precisely because people are hoping its value will only go up.

This is the same for any currency trading.

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Re:El Salvador abandons Bitcoin as legal tender after failed... by fastasucan on Tuesday February 04, 2025 @05:46PM (#42940190)

Yes, bur you dont want to limit your populations spending to just those essential items.

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