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El Salvador abandons Bitcoin as legal tender

(ticotimes.net)
927 points smallerfish | 1 comments | 04 Feb 25 00:00 UTC | HN request time: 0s | source
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ks2048 ◴[04 Feb 25 00:26 UTC] No.42925530[source]▶
Do pro-bitcoin people still talk about goals of bitcoin being a currency that people use daily?

I don't follow it closely, but that idea seems to have faded and now it's just an asset to buy and hold while it magically goes up forever.

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sporkydistance ◴[04 Feb 25 00:42 UTC] No.42925711[source]▶
Why would anyone spend a single BTC/sat. if they know it could be worth 10x more in a few weeks/years?
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hackernudes ◴[04 Feb 25 01:02 UTC] No.42925943[source]▶
Because they need toilet paper today.
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1. jdiff ◴[04 Feb 25 01:18 UTC] No.42926115[source]▶
I've got good news for those people, you can't buy toilet paper with bitcoin today. And they aren't getting paid in bitcoin today, either. And if they tried to exchange bitcoin for fiat to buy toilet paper, they'd be subject to incredible fees that would make such a transaction pointless.