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927 points smallerfish | 1 comments | 04 Feb 25 00:00 UTC | HN request time: 0.211s | source

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josu ◴[04 Feb 25 00:29 UTC] No.42925559[source]▶

Here is the retained purchasing power of each of the coins since the law was passed in September 2021:

Legal tender 1: -15%

Legal tender 2: +115%

Guess which one has been deemed a "Failed experiment".

gameman144 ◴[04 Feb 25 00:36 UTC] No.42925649[source]▶

I would guess "Legal tender 2" was deemed a failed experiment, since rapid deflation is extremely undesirable in a currency.

replies(1): >>42929067 #

toenail ◴[04 Feb 25 07:06 UTC] No.42929067[source]▶

> since rapid deflation is extremely undesirable in a currency

What do you mean, why should my money NOT go up in value?

replies(1): >>42929308 #

if you genuinely are interested in an answer to your question, I recommend this blog post by Matt Ranger:

1. ◴[04 Feb 25 08:09 UTC] No.42929537[source]▶

El Salvador abandons Bitcoin as legal tender