Jump to content

El Salvador to Adopt Bitcoin as Legal Tender


HAL1000
 Share

Recommended Posts

39 minutes ago, NightJanitor said:

BTC -> MS13.  Fantastico!  That positioning is sure to endear the coin to totally normal gang members the world over.

 

Yup. Get your 🍿 ready!

Link to comment
Share on other sites

Any bets on how long before we start seeing media stories about lost keys, incorrect addresses, hacks, lost devices, fat finger amount errors etc?

This stuff is still so immature that premature national adoption is a very fraught situation.  
 

Personally I think this is likely more a gimmick for El Salvador than a serious fiscal manoeuvre.  And that’s probably a good thing because serious adoption of clunky blockchain (versus slick Ripplenet) is potentially going to give us all a black eye.

Link to comment
Share on other sites

7 hours ago, BillyOckham said:

Any bets on how long before we start seeing media stories about lost keys, incorrect addresses, hacks, lost devices, fat finger amount errors etc?

This stuff is still so immature that premature national adoption is a very fraught situation.  
 

Personally I think this is likely more a gimmick for El Salvador than a serious fiscal manoeuvre.  And that’s probably a good thing because serious adoption of clunky blockchain (versus slick Ripplenet) is potentially going to give us all a black eye.

I apologize for any offense, but humor me for the sake of our dialog: How could you have misspelled maneuver so badly?

Link to comment
Share on other sites

1 hour ago, brianwalden said:

I apologize for any offense, but humor me for the sake of our dialog: How could you have misspelled maneuver so badly?

No offence taken.  Indeed you have such good stock with me for your many amusing and informative posts that you would have to try really hard to get me even slightly annoyed at you.   :) 

 

As for my spellin.  It’s atroshus.  The ONLY reason my posts are mostly spelled corectky is because of autocorrect.  It’s also is the devils instrument and fecks me up on meny occashuns.

But to the nub of your post... the ludicrous assertion that some yankee slackarse hotchpotch of random letters vaguely resembling the proper spelling of the Queen’s English word is actually the CORRECT way to do it is as appalling as American culture generally.  No offence.   :) 

Link to comment
Share on other sites

  • 2 weeks later...

World Bank rejects El Salvador request for Bitcoin help

Quote

The World Bank has rejected a request from El Salvador to help with the implementation of Bitcoin as legal tender.

The international lender cited concerns over transparency and the environmental impact of Bitcoin mining.

Earlier this month, the Central American country announced plans to become the first nation to formally adopt the digital currency.

It aims to use Bitcoin as a parallel legal tender alongside the US dollar.

The World Bank's decision could mean the country faces problems in hitting its deadline to ensure that Bitcoin is accepted nationwide in the next three months.

"We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes," a World Bank spokesperson told the Reuters news agency via email.

"While the government did approach us for assistance on Bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings," they added.

It comes after El Salvador's Finance Minister Alejandro Zelaya said on Wednesday that the country had asked the World Bank for technical assistance with the implementation of the cryptocurrency as an official method of payment.

Mr Zelaya also said that discussions with the International Monetary Fund (IMF) have been successful, saying the IMF was "not against" the implementation of Bitcoin.

But the IMF last week said it saw "macroeconomic, financial and legal issues" with El Salvador's adoption of Bitcoin.

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.