Interesting article. I expected that El Salvador would have to endure many slings and arrows for this move, and we cannot expect the opposition party to support anything the in power regime does, that is how politics works. As for banks and the IMF, they are also not impartial commentators also. You do make some good points about volatility, ease of use and education, as the learning curve for cryptocurrency can be steep. But we must remember also that simple wallets exist, you don’t need to understand everything about technology to use it and most importantly, that when you decouple from fiat, the value of crypto in fiat becomes less important and actually creates stability, instead of exposure to instability of prices of goods and services. However I agree that this road towards Bitcoin as practical usable currency nationwide will not be an easy journey, and as Bitcoin Beaches and other microcosm experiences have shown, there is a lot of work and education involved in transitioning from fiat to crypto. But the benefits to these economies are amazing, if the transition is planned and corruption and sabotage are limited or eliminated.
Posted Using LeoFinance Beta