El Salvador abandons Bitcoin as legal tender

(ticotimes.net)

927 points smallerfish | 1 comments | 04 Feb 25 00:00 UTC | HN request time: 0.367s | source

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portaouflop ◴[04 Feb 25 02:07 UTC] No.42926658[source]▶

IMF gave them 1.4 billion to abandon the “experiment”:

> The IMF made this a condition for a loan of 1.4 billion US dollars (1.35 billion euros). In December of last year, the IMF reached an agreement with President Nayib Bukele’s government on the loan of the stated amount to strengthen the country’s “fiscal sustainability” and mitigate the “risks associated with Bitcoin,” as it was described.

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I dislike cryptocurrencies as much as the next guy but this was clearly something else than a failure of the currency itself

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patrickaljord ◴[04 Feb 25 03:49 UTC] No.42927642[source]▶

>>42926658 #

> I dislike cryptocurrencies as much as the next guy

Is this really the general sentiment on HN?

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wordofx ◴[04 Feb 25 03:57 UTC] No.42927710[source]▶

>>42927642 #

It should be. It’s dumb as hell. Bitcoin and blockchain have no real use.

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1. dcreater ◴[04 Feb 25 06:17 UTC] No.42928717[source]▶

>>42927710 #

I used to be close minded as well before actually studying Bitcoin.

There are plenty of bad actors in crypto but Bitcoin is at worst a very interesting experiment that can profoundly change the world for the better. Most is not all of the rest of crypto is basically hawk tuah coin with less obvious illegitimacy. In fact bitcoiners don't consider Bitcoin as "crypto"

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