it seems pretty clear that one is strongly related to the other... which like Elon's randomish tweets just goes to show how fragile and immature the crypto market is.
So I think you can have it either “bitcoin is irrelevant, and thus wild value swings don’t matter” or “bitcoin is a proper thing which is appropriate for a country to adopt as legal tender”, but you can’t really have it both ways. The El Salvador thing makes the volatility important.
A 10% daily drop in value for a national currency is usually a sign that that currency isn’t long for this world.
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A 10% daily drop in value for a national currency is usually a sign that that currency isn’t long for this world.