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El Salvador abandons Bitcoin as legal tender

(ticotimes.net)
927 points smallerfish | 2 comments | 04 Feb 25 00:00 UTC | HN request time: 0s | source
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k__ ◴[04 Feb 25 00:16 UTC] No.42925396[source]▶
"if someone owes you money and wants to pay you in bitcoin, you can refuse to be paid in bitcoin, but you cannot refuse if it’s legal tender"

Wat

replies(1): >>42925609 #
1. mikeyouse ◴[04 Feb 25 00:33 UTC] No.42925609[source]▶
Under the former law where bitcoin was legal tender, if someone owed you money, they could insist that you accept bitcoin to settle the debt. Most people wanted nothing to do with bitcoin so they removed the legal tender designation.
replies(1): >>42927465 #
2. coliveira ◴[04 Feb 25 03:28 UTC] No.42927465[source]▶
Who would want to receive payment in a currency that can lose 20% of its value in an afternoon? Only speculators are interested in this.