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It doesn't seem so much that it is a legal currency, but all the chaos and suffering the push to make it the primary currency is causing. When headlines talk ab
by stubish 4y ago
It doesn't seem so much that it is a legal currency, but all the chaos and suffering the push to make it the primary currency is causing. When headlines talk about bitcoin mining hubs using geothermal energy, people are reading energy price hikes and worsening deficit as more energy is imported, and that they don't get to benefit because they don't get to own the miners. And a 'small loss relative to the country's balance sheet' would make an absolutely huge difference if that loss had instead been spent on education or health. The discretionary spending in most countries is 'small relative to the country's balance sheet'.
- el-salvador 4y ago> And a 'small loss relative to the country's balance sheet' would make an absolutely huge difference if that loss had instead been spent on education or health. Definitely. Bitcoin purchases are larger than any public hospital anual budget for example.
- WheelsAtLarge 4y ago"It doesn't seem so much that it is a legal currency, but all the chaos and suffering the push to make it the primary currency is causing." Ok, I get it. Making it a legal currency was not a genius move given its volatility. But I understand it as a way to stay ahead of the curb. Whatever people think, bitcoin has a future since there will always be people that believe in it. It's cult like. They won't hear anything but the positive. But making it the primary currency for a whole country makes no sense at this time. It's a big gamble. It will be to hard for people to deal with the extreme fluctuation. I wish them luck.