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> And yes, it acts as a currency just fine as proven in El Zonte/El Salvador A journalist that went to El Salvador and tried to use BTC to pay begs to differ:
by FabHK 5y ago
> And yes, it acts as a currency just fine as proven in El Zonte/El Salvador
A journalist that went to El Salvador and tried to use BTC to pay begs to differ:
> By Friday the final tally looks grim for crypto fans. Only 10 of almost 50 businesses had taken Bitcoin, amounting to $485 out of $1,700 I’ve spent. And only four crypto transactions—at the pool hall, the peanut vendor, a Starbucks, and a Caterpillar-brand T-shirt store—had been entirely seamless. My experience isn’t a fluke. In a recent Chamber of Commerce survey of 337 businesses, only 14% said they’d transacted in Bitcoin since September.
https://www.bloomberg.com/features/2022-bitcoin-travel-problems/ https://www.bloomberg.com/features/2022-bitcoin-travel-probl...
- Quindecillion 5y agoNone of that surprises me. It's the first country to ever adopt Bitcoin as legal tender. Of course there are going to be technical teething issues. And the % adoption is unsurprising too. It's going to take years, probably decades, to build trust in Bitcoin. No one in the right mind thinks Bitcoin is just going to take over all economic activity within checks watch SEVEN MONTHS. You have to be realistic. But all that being said, in combination with the Lightning protocol it's still proving itself useable as a currency in several examples now.