'It's robbery': Salvadorans slow to adopt Bitcoin
'It's robbery': Salvadorans slow to adopt Bitcoin
Two years ago, El Salvador shrugged off a chorus of warnings and adopted Bitcoin as legal tender in a bid to revitalize its economy and improve access to financial services.Economist Cesar Villalona told AFP that Bitcoin "does not exist in the local economy" in any significant way, because in E...
Despite government incentives to use Bitcoin, people distrust it because they know how volatile it is and 70% of the population thinks it's a scam.
Turns out even the Salvadoran poor are more financially savvy than tech bros.
The reason this article exists is because the price as measured in blood money is 26k. If it were 60k a whole different tune would be playing about how great of an idea it was. Actually imo its better now than at its high because moon boys want little to do with it while people who really understand why it exists use it just fine.
So you are saying that if Bitcoin weren't so volatile, then this would be a good idea? I mean, if my grandma had two wheels she'd be a bicycle.
No, i am saying that even though it is volitile it has people who will use it anyway. I am personally a monero user and i buy some on a monthly basis (id really love to get paid in it) and then pay my bills with it, spend it on things i want, and do it all again next month. I really don't have to concern myself with the price because i am organically using it and will get more in a few weeks no matter what the price does.
Run up to halving the FUD ramps up
Any speed faster than "Nope!" is too fast.
One cannot force people to be free. Bukele did a huge disservice to bitcoin by making its acceptance mandatory.
Organic adoption is the only way.
The most depressing is the fact that he will be unjustly celebrated by the same media outlets that criticize him, in <2years when the bitcoin price peaks again.