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El Salvador abandons Bitcoin as legal tender

(ticotimes.net)
927 points smallerfish | 8 comments | 04 Feb 25 00:00 UTC | HN request time: 1.543s | source | bottom
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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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desumeku ◴[04 Feb 25 00:37 UTC] No.42925658[source]▶
For daily usage, Bitcoin is simply inferior to Ethereum and other blockchains.
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block_dagger ◴[04 Feb 25 00:38 UTC] No.42925670[source]▶
That opinion is not shared by those who think Proof of Stake and no ceiling to supply are bugs vs features.
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desumeku ◴[04 Feb 25 00:41 UTC] No.42925704[source]▶
Those issues are not really relevant when it comes to factors like transaction speeds and the diversity of assets available to transact with, such as stablecoins, as well as DeFi platforms to actually use those assets on.
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1. verdverm ◴[04 Feb 25 01:53 UTC] No.42926499[source]▶
When most people hear daily usage, they think groceries, bills and paycheck, not day trading on an exchange, defi or centralized.

In this regard, crypto currency is not really a currency that people can use for their daily lives without worry and risk from volatility

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2. whimsicalism ◴[04 Feb 25 02:02 UTC] No.42926592[source]▶
yes it is, just use stables. frankly it is a much more convenient way to move money if the other person has it as well

e: and i’m no crypto obsessive really, i don’t think it was usable even 3 years ago but it’s pretty handy now, can easily send $20 in usdc on base or use it to purchase carbon offsets or use it on election/sports betting or use it to purchase deepseek r1 credits…

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3. verdverm ◴[04 Feb 25 07:13 UTC] No.42929110[source]▶
I was emailing rent to my roommate 6+ years ago for zero fees with GPay, it's hard to see it being easier than that.
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4. whimsicalism ◴[04 Feb 25 15:40 UTC] No.42933769{3}[source]▶
well, it is. for instance, for my rent rebalancing i have to pay more than $2500 and gpay doesn’t allow that. the fees would be fractional cents.

in fact short of wiring i have not found any service allowing me to send more than that in a day and certainly not with instant deposit

gpay takes 1-5 days to appear in account, i can spend the money i transfer here immediately

replies(1): >>42938139 #
5. verdverm ◴[04 Feb 25 20:29 UTC] No.42938139{4}[source]▶
Too many malicious actors in crypto for it to become mainstream, sorry, not sorry

The community needs to self police and remove this problem if they ever want me to give it a third chance. There are several other fundamental issues in crypto, so not sure this will be enough on its own to reach mainstream adoption

For example, I don't want my transaction history on a public ledger, encrypted or not

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6. desumeku ◴[04 Feb 25 21:06 UTC] No.42938682{5}[source]▶
"Crypto needs to self-police and remove malicious actors" and "Crypto needs to stop having a public ledger" are two contradictory actions where achieving one would make the other impossible.
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7. verdverm ◴[05 Feb 25 04:37 UTC] No.42943872{6}[source]▶
How so? Plenty of private system are fully capable of removing bad actors, if anything they become easier together
8. verdverm ◴[05 Feb 25 10:22 UTC] No.42946519[source]▶
I already have stable digital dollars in my bank account, why do I need another one that costs me more money to use?