So many ways that El Salvador’s adoption of bitcoin is an interesting experiment:
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Behind El Salvador and other (euro)dollar dependent countries motivation for making Bitcoin legal tender. The world has a Eurodollar problem since 2007 and crypto is the latest in a long history of “ghost money” decentralised solutions for filling in the gap when generally accepted currency is not readily available for commerce. Unless the IMF and friends manage to set an example and stamp it out temporarily, golpe de estado perhaps.
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400 now 2 buys in.
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Nice hedge, a bit of BTC, a bit of USD.
El Salvador doing things right.
Meanwhile the UK spent the equivalent of BTC 400,000 ( at current prices) , BTC 5,000,000 at the low of the pandemic - on an app that has the functionality of most dating apps that are knocked up at a fraction of the price… GPS and Bluetooth proximity tracking… given to Matt Hancocks mates and no accountability, and no one is questioning why it cost so much. Secret ingredient is most probably crime.
Rishi really should at least match El Salvadors buy in.
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That is the sound of ultimate suffering … as the banksters doom is now writ large for the world to see. El Salvador has cracked open the door, the age of banking is coming to a close.
We are witnessing a transformative event in history!!
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Related news.
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Bitcoin ambassador looks like a dude picked up from living under a bridge…
what the frick is the price doing at the mo?!
Expect the Yanks to invade El Salvador and Panama within a few weeks.
The small-hat tribe will not be at all happy and will pull their usual strings.
After all the Salvadoreans and Panamanians cant possibly be as effective fighters as the Afghans…
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Sell the news they say.
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That QR code does go to a “McDonald’s El Salvador”.
Payment complete
You paid 0.00009992 BTC
which is about £3.40
I needed to enhance the image first.
Cool.
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I see Peter Shiff is sticking his nose where it isnt wanted.
BTC: $1.00
PS: BTC will make you poor.
BTC: $10
PS: BTC will make you poor.
BTC: $100
PS: BTC will make you poor.
BofE: Prints money like hell…
BTC: $50,000
PS: BTC will make you poor.
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I forgot about this possibility.
Since it is now an official currency can countries really tax you when you convert from one to other?
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Depends on the country. You get taxed in the U.S. on FOREX gains (although they aren’t capital gains).
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Probably very fake news or they would have written about it in the swedish news. Also there is tax in Sweden on currency gains as in most countries.
They probably confuse Sweden with Switzerland or something, very common.
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