El Salvador's Bitcoin experiment: $60M lost, $375M spent (cnbc.com) 12 points by 2pEXgD0fZ5cF 3y ago ↗ HN
[–] 2pEXgD0fZ5cF 3y ago ↗ El Salvador's bitcoin experiment: $60 million lost, $375 million spent, little to show so farKey Points:- El Salvador has lost around $60 million on its bitcoin bet one year into a nationwide crypto experiment.- The use of bitcoin in El Salvador appears to be low amid the market volatility.- The country faces plummeting economic growth and a high deficit.---(Quoted from the article) [–] theplumber 3y ago ↗ Who thought people don't like to use a volatile "coin" to pay groceries? [–] throwawayKiwi9 3y ago ↗ A lot of people who have dealt with much worse volatility in their national currency thought it was a good idea. Many national currencies have performed so much worse than this.
[–] theplumber 3y ago ↗ Who thought people don't like to use a volatile "coin" to pay groceries? [–] throwawayKiwi9 3y ago ↗ A lot of people who have dealt with much worse volatility in their national currency thought it was a good idea. Many national currencies have performed so much worse than this.
[–] throwawayKiwi9 3y ago ↗ A lot of people who have dealt with much worse volatility in their national currency thought it was a good idea. Many national currencies have performed so much worse than this.
5 comments
[ 2.5 ms ] story [ 30.4 ms ] threadKey Points:
- El Salvador has lost around $60 million on its bitcoin bet one year into a nationwide crypto experiment.
- The use of bitcoin in El Salvador appears to be low amid the market volatility.
- The country faces plummeting economic growth and a high deficit.
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(Quoted from the article)