4 ms·
Sure it oversimplified (most opinions that are somewhat transferable are). I agree with the hope for a better stewardship, but as all people end up moving cryp
by svennek 5y ago
Sure it oversimplified (most opinions that are somewhat transferable are).
I agree with the hope for a better stewardship, but as all people end up moving cryptocurrencies in and out of the "old" financial system (creditcards, swift etc). I fail to see how crypto would help me..
I for one cannot pay for my rent, food, heat, water, power, internet with crypto, can you?
- pcthrowaway 5y agoI can't pay my rent in US dollars, that doesn't make them worthless. Although, to be fair, I did pay a security deposit in bitcoin 6 years ago. Actually, in El Salvador, Bitcoin is now the national currency, so I suspect a lot of people are paying their rent in bitcoin
- seanmcdirmid 5y agoIsn’t El Salvador completely dollarized? It wouldn’t be surprising if most landlords still demanded rent paid in dollars rather than bitcoin (a difference in “the” national currency vs “a” national currency).
- pcthrowaway 5y agoIt's illegal to conduct business and not accept bitcoin in El Salvador.. it's the national currency now. I don't know for certain if this applies to landlords however.
- seanmcdirmid 5y agoLegal and enforced are also different things (especially when an autocrat is in charge). There are articles on how many poor people lack internet and are completely unbanked. That it is extremely unpopular in El Salvador. https://www.fool.com/the-ascent/amp/cryptocurrency/articles/the-ups-and-downs-of-bitcoins-first-month-in-el-salvador/ https://www.fool.com/the-ascent/amp/cryptocurrency/articles/...