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It might have worked if El Salvador made their own cryptocurrency which they control and could mint more of and backed it properly as a non-speculative legal te
by odo1242 2y ago
It might have worked if El Salvador made their own cryptocurrency which they control and could mint more of and backed it properly as a non-speculative legal tender, but they didn’t and that didn’t happen.
- fny 2y agoSo... fiat?
- odo1242 2y agoYes. A "digital fiat" currency, basically. It could potentially incorporate privacy features from cryptocurrencies or replace digital payment providers. Or be a ginormous waste of time. I don't really know enough to tell you which one.
- hammock 2y agoCorrect. The IMF can’t run its debt trap/looting playbook without more currency control
- odo1242 2y agoWhat playbook is this? Genuine question.