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Bitcoin is legal currency for taxes in El Salvador. And someone there will always be someone in el salvador needing to pay taxes.
by notch656a 4y ago
Bitcoin is legal currency for taxes in El Salvador. And someone there will always be someone in el salvador needing to pay taxes.
- davidweatherall 4y agoYes, but Warren Buffer doesn't live in El Salvador, so the only thing he could do with BTC is sell it to someone for USD so the point still stands
- est31 4y agoSo Bitcoin should be priced according to the size of the El Salvadorian economy. Not all of the economy, but the economy conducted in bitcoin. Bitcoin can't take credit for people using alternative currencies to pay their taxes in El Salvador, or using it to buy groceries, pay rent, etc.
- nikanj 4y agoBut it’s not the only one, unlike the USD
- olalonde 4y agoSo do you believe USD would be worth zero if the US accepted foreign currencies for tax payment? Or abolished taxes?
- pessimizer 4y ago> And someone there will always be someone in el salvador needing to pay taxes. 1) You don't need bitcoin to pay taxes in El Salvador. You need dollars to pay taxes in the US. 2) Why would people in El Salvador give you their USD for bitcoin when you can pay taxes there in USD?