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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 tim333 on Tuesday February 04, 2025 @09:47AM (#42933006)
>President Nayib Bukele’s government has accumulated 5,900 BTC, achieving profits of $333.59 million from an initial $269.74 million investment, fuelled by Bitcoin’s recent surge past $100,000. (dec 2024)

I wish I could have a $333m failure like that.

(edit - see also his approval rating - 91% https://x.com/stats_feed/status/1875573928250179666)

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Re:El Salvador abandons Bitcoin as legal tender after failed... by uni_rule on Tuesday February 04, 2025 @10:42AM (#42933812)
If the only thing it can accomplish is being traded back and forth for "hard" currencies such as the US Dollar than it's no more useful than the Soviet Ruble. It's not even useful as an actual anonymous currency, it's not even anonymous without a considerable amount of legwork.
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Re:El Salvador abandons Bitcoin as legal tender after failed... by desumeku on Tuesday February 04, 2025 @11:44AM (#42934831)
Nobody has been advertising BTC as "anonymous" currency in over a decade. It was a public ledger since day 1. This is practically a strawman.
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Re:El Salvador abandons Bitcoin as legal tender after failed... by tim333 on Tuesday February 04, 2025 @10:50AM (#42933937)
The soviet ruble is not widely accepted and did not hold its value well. Bitcoin functions more like gold reserves.
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