3 ms·
But it would be worse if they used a centralized currency. It's an additional risk. Those risks add up. And el Salvadorians can individually opt out of the gove
by billytetrud 5y ago
But it would be worse if they used a centralized currency. It's an additional risk. Those risks add up. And el Salvadorians can individually opt out of the government app whenever they want to. It's a lot harder to opt out of a currency you've decided to make legal tender 2 years in. Also stable coins are exactly what they don't want - they're trying to insulate themselves from rampant inflation and instability risk of the dollar.
- rchaud 5y ago> they're trying to insulate themselves from rampant inflation and instability risk of the dollar. So instead of controlling their own monetary policy by issuing their own currency, they are now at the mercy of the US federal reserve and a coterie of Chinese cryptomining syndicates.
- billytetrud 5y agoThey were already at the mercy of the US federal reserve. Now they're less so. And you're misinformed about the influence of chinese mining syndicates. Miners have almost no influence on the structure or stability of the currencies they mine.