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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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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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fsckboy ◴[04 Feb 25 03:35 UTC] No.42927532[source]▶
>a failure of the currency itself

this is a really ambiguous phrasing. Is bitcoin a "currency"? is el Salvador adopting bitcoin as a ___?____ a currency?

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1. warkdarrior ◴[04 Feb 25 07:02 UTC] No.42929040[source]▶
El Salvador adopted Bitcoin as one of its national currencies.
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2. fsckboy ◴[04 Feb 25 22:33 UTC] No.42940000[source]▶
like, "not your keys, not your bitcoin", if it's bitcoin, it's not your currency