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El Salvador's currency is pegged to the US dollar. They have a low degree of monetary sovereignty. I don't know the pros and cons of a country like that adopti
by 99_00 5y ago
El Salvador's currency is pegged to the US dollar.
They have a low degree of monetary sovereignty. I don't know the pros and cons of a country like that adopting bitcoin. But their willingness to take the high risk road to do the experiment will benefit all of us.
A country the like US who has a high degree of monetary sovereignty has a lot to loose and very little go gain by adopting bitcoin. If you believe in Modern Monetary Theory. Given the way things have gone since 2008 financial crisis i believe MMT is the best model available.
Any discussion surrounding adoption of bitcoin should focus on what you gain and what you loose. Because there are always tradeoffs.
- Ancapistani 5y ago> A country the like US who has a high degree of monetary sovereignty has a lot to loose and very little go gain by adopting bitcoin. If you believe in Modern Monetary Theory. Given the way things have gone since 2008 financial crisis i believe MMT is the best model available. I’m a huge proponent of the free market, and opponent of Keynesian economics - but even I freely admit that the US moving to a fully free market system would have disastrous consequences. That doesn’t mean a “fully floating” currency is better; it means that there is a barrier to exit. There are lots of things in life that are easier to adopt than to abandon :)