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El Salvador Abandons Bitcoin as Legal Tender After Failed Experiment (ticotimes.net)

submitted 1 week ago by [email protected] to c/[email protected]

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[–] [email protected] 6 points 1 week ago (1 children)

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.

[–] [email protected] 6 points 1 week ago (1 children)

Nothing backs US currency?

I’d argue the US military backs the US dollar.

[–] [email protected] 4 points 1 week ago

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.