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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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Mengkudulangsat ◴[04 Feb 25 00:11 UTC] No.42925325[source]▶
> The government, she assured, will continue buying bitcoin and having reserves in this cryptocurrency

Sounds like the term "Failed Experiment" is the writer's assertion and not the government official position.

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a1371 ◴[04 Feb 25 00:19 UTC] No.42925429[source]▶
Imagine you have 6,050 bitcoins but they didn't work out for you the way that you hoped. The most reasonable thing to do is to still advertise a bullish position because otherwise you are devaluing your own asset.

There is a strong sentiment around bitcoin in El Salvador and it can make them money; but the experiment around it being a legal tender, well, failed.

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1. readthenotes1 ◴[04 Feb 25 01:27 UTC] No.42926209[source]▶
They only doubled and tripled in value. Gotta wonder what you think they expected
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2. Torn ◴[04 Feb 25 02:07 UTC] No.42926657[source]▶
It to be a viable currency? Not a speculative asset?