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> Under the terms of the agreement being finalised with the Washington-based fund, El Salvador would drop a legal requirement for businesses to accept bitcoin a
by klntsky 2y ago
> Under the terms of the agreement being finalised with the Washington-based fund, El Salvador would drop a legal requirement for businesses to accept bitcoin as payment, making it voluntary to do so.
So, nothing serious
- oblio 2y agoIn what sense?
- sanswork 2y agoFrom what I've read almost no businesses accepted it anyhow so it's not actually an impactful change for anyone.
- senorrib 2y agoActually better (i.e. more liberal) than forcing BTC on everyone.
- anonym29 2y agoBTC as a payment method was not being forced on consumers, rather it was being forced on businesses by compelling them to accept it as payment. I'm not disputing your main point that forcing businesses to accept it is less desirable than simply allowing them to, I just wanted to clarify that it wasn't being forced on everyone.
- Ferret7446 2y agoMeanwhile, the IMF wielding this kind of influence on nations is perfectly fine, I suppose.
- r00fus 2y agoWithout a mandate, the country won't ever quit the dollar (for international trade).
- JumpCrisscross 2y ago> the country won't ever quit the dollar (for international trade) Legal tender status has almost nothing to do with international settlement. (The dollar isn’t legal tender in most jurisdictions.)
- Aloisius 2y agoThe USD is legal tender in El Salvador though, so...
- JumpCrisscross 2y ago> USD is legal tender in El Salvador though Yes. That isn’t why they have to pay dollars for their imports.
- Aloisius 2y agoSure. You trade in the currency the seller invoices in. Using USD as their currency though does mean there is no possibility of them being invoiced in their own national currency even in cases where it might make sense. Of course, most trade is invoiced in USD regardless.
- JumpCrisscross 2y ago> Using USD as their currency though does mean there is no possibility of them being invoiced in their own national currency even in cases where it might make sense Plenty of countries use the dollar alongside their national currency, formally and informally [1]. Plenty use it without making it legal tender. [1] https://en.wikipedia.org/wiki/United_States_dollar#Countries_that_use_US_dollar https://en.wikipedia.org/wiki/United_States_dollar#Countries...