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For example, El Salvador recently made Bitcoin legal tender. The government has proclaimed BTC as legal tender. Whether people will actually use it is another
by vanusa 5y ago
For example, El Salvador recently made Bitcoin legal tender.
The government has proclaimed BTC as legal tender. Whether people will actually use it is another matter. Current indications are this move is wildly unpopular and its adoption is floundering.
In Venezuela it's in everyday use
In a country with a truly basket-case economy like Venezuela I can imagine BTC making some sort of sense.
- argvargc 5y agoCurrent legacy media reporting on El Salvador indeed makes it seem as if the idea is wildly unpopular. That doesn't mean however, that this is reality. As for basket-cases; the USD money supply [0], and again, no real "news" coverage. 4x supply over the past 20 years is a crude average of about 7.5% inflation per year. Even worse, it's exponential. [0] https://fred.stlouisfed.org/series/WM2NS https://fred.stlouisfed.org/series/WM2NS