Re:El Salvador's crypto experiment ends in failure
by crazygringo on Sunday March 09, 2025 @08:45PM
(#43315632)
I'm taking about currency value in local purchasing power.
And that's what you're observing -- prices are mostly stable.
Currency exchange fluctuations only affect imports and exports, and they vary as well between each pair of countries.
Re:El Salvador's crypto experiment ends in failure
by wegfawefgawefg on Monday March 10, 2025 @01:28AM
(#43317261)
thats the same with bitcoin
Re:El Salvador's crypto experiment ends in failure
by crazygringo on Monday March 10, 2025 @09:23AM
(#43320331)
I will repeat my other comment:
> Just over the past year BTC has gone between $54K and $104K.
That's crazy volatility. That is not the same as local currencies.
And with Bitcoin there's no such thing as local purchasing power.
Re:El Salvador's crypto experiment ends in failure
by wegfawefgawefg on Friday March 14, 2025 @08:06PM
(#43368632)
theres no local purchasing power only because it isnt used locally like that
Re:El Salvador's crypto experiment ends in failure
by the_gastropod on Sunday March 09, 2025 @09:20PM
(#43315899)
Volatility is a measurable thing, though. In 1985, 1 USD was worth 260 JPY. In 2011, 1 USD was worth 76 JPY. In that 40 year history, those are the extreme high/low ends. That's a ~70% swing over the span of 26 years. By comparison, Bitcoin had a 95% swing between September 2024 and December 2024.
All volatility is not equal. The degree to which Bitcoin is volatile is unmatched by any government currency I'm aware of.
Look at the cost of the japanese yen relative to the dollar.
I have seen prices double and then half due to international politics.
Living here in Japan though, prices seem mostly stable despite the volatile yen. I am not sure how this works.