News for hackers. Stuff that matters.

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 lxgr on Tuesday February 04, 2025 @12:02PM (#42935229)
That's exactly the problem: People will (rationally!) limit their spending to bare necessities if they expect the currency they have on hand to strongly appreciate over time.
[ Parent | on HN ]
Re:El Salvador abandons Bitcoin as legal tender after failed... by npoc on Wednesday February 05, 2025 @07:54AM (#42947828)
Imagine that, having the option of saving your money for things you really want instead of being forced to spend it on things you don't, or risk lending it out for essentially free to compensate for the continuous fall in value.
[ Parent | on HN ]
Re:El Salvador abandons Bitcoin as legal tender after failed... by Ferret7446 on Friday February 07, 2025 @05:35AM (#42971208)
That implies that 1. it is a problem and 2. that people are rational. The latter is definitely not true, and the former is definitely arguable.
[ Parent | on HN ]