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El Salvador abandons Bitcoin as legal tender

(ticotimes.net)
927 points smallerfish | 1 comments | 04 Feb 25 00:00 UTC | HN request time: 0.214s | 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".

replies(4): >>42925649 #>>42925740 #>>42925991 #>>42933485 #
1. mkipper ◴[04 Feb 25 15:24 UTC] No.42933485[source]▶
And if you wrote this comment in December 2022, Bitcoin would be sitting at -70%.

I sincerely don't know anything about monetary policy, but I can't imagine that sort of volatility in the value of your currency is considered a good thing.