"This is good for bitcoin."
this post was submitted on 04 Feb 2025
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BUT I WAS TOLD THERE'S NO DIFFERENCE BETWEEN BUTTCOIN AND REAL MONEY, WHAT THE HELL?!?11?!
Who could have ever seen this coming other than anyone who thought about it for the briefest amount of time?
WOAH what a surprised maybe it's because half of the fucking country lacks electricity or internet? Really good job Bukele.
Well I'm sure the petrol-dollar will fix all that stuff like when El Salvador was a utopia before bitcoin. \s
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Crypto is a massive scam. It has no value. It is just used to obscure fraud.
I mean neither does FIAT currency, U.S. currency is based on taxes , there is nothing that backs it. Majority of GDP is just finance. We need more education on what and how a currency actually works.
Nothing backs US currency?
I’d argue the US military backs the US dollar.
Violence based currencies are not sustainable in the long term. That's why the petrol-dollar has been steadily decreasing in global reserves. It's why the IMF has to outlaw bitcoin instead of competing with it.
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The government, she assured, will continue buying bitcoin and having reserves in this cryptocurrency. According to the National Bitcoin Office, El Salvador has 6,050 bitcoins worth $634.8 million. “President Bukele continues buying bitco
They are still keeping the mass reserves just not forcing it to be accepted as legal tender in stores. Before if someone wanted to pay in Bitcoin you had to accept it, now you don't have to.
Yeah most commenters here just read the headline I think.
The govt just wanted the loan so they did the thing.
They're still big into bitcoin. Seems like their holdings have gone well (only because Trump won), but their other projects haven't been successful by any metric.
People haven't taken up crypto as a currency, it's just the pres using federal resources to invest in crypto. He's been lucky so far.
Bitcoin seems like the best crypto for storage of reserve funds like gold. If it was to be used day to day something smaller and quicker would be better suited like zcash?
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an extremely volatile speculative asset primarily used for buying drugs, gambling, and illegal pornography doesn't work as an actual currency?
who would have guessed
Half of El Salvador doesn't have electricity or internet, Bukele is just a far-right weirdo who probably thought this would attract Techbros to invest in his regime.
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The thing we all knew would happen, did happen. Crypto is only useful to commit financial crimes and even for that it's bad.
The problem with any new kind of currency no matter what it is will always be controlled and manipulated by the wealthiest individuals who will flood their wealth into that new system.
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This is good for bitcoin
If he were smart, he would bring back the Colon and stop using US Dollars. But noo he had to do stupid shit like Bitcoin.
He's just a US puppet, Trump literally called him a dictator and said that the Salvadoran people areremoveds and murderers, and Bukele is still licking the US boot. Just like South America's failson dictator wannabe Daniel Noboa and Captain Ancap in Argentina.
Captain Ancap in Argentina.
And note not even he wants to do crypto
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