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El Salvador Is Printing Money with Bitcoin
- gus_massa 5y agoI don't understand. The idea is to switch the bank account from US-Dollars to Tethers? To SV-Dollars? To SV-Tethers? Hi from Argentina! Been there, done that. Note that at the end of the convertibility, the Peso was devaluated from 1<->1 to 1<->1.4, and most of the US-Dollars accounts were frozen and later converted to Pesos (IIRC the small banks account at a 1.4 ratio, but it was not possible to buy the equivalent amount of Dollars, and the large account were exchanged for long term bond.) https://en.wikipedia.org/wiki/Corralito https://en.wikipedia.org/wiki/Corralito
- cryptohacks 5y agoFirst, they laugh at you