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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: 0.411s | 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]▶
> 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]▶
It should be. It’s dumb as hell. Bitcoin and blockchain have no real use.
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dmichulke ◴[04 Feb 25 07:08 UTC] No.42929080[source]▶
There are probably a billion bitcoiners (direct or indirect owners) and you basically state that you're smarter than all of them.

Just wow.

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1. EFreethought ◴[04 Feb 25 15:31 UTC] No.42933632[source]▶
A lot (if not most) bitcoiners think they are smarter than all the non-bitcoiners.

Do you object to that?

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2. dmichulke ◴[05 Feb 25 10:20 UTC] No.42946496[source]▶
Let's say they're taking a financial risk which incentivizes (some of) them to study the matter more closely than someone else that is not taking that risk.

Does that mean they're smarter? I don't think so. It's a bet they're willing to take and time will tell who was right.