Post
Topic
Board Bitcoin Discussion
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
legiteum
on 05/11/2024, 13:34:20 UTC
El Salvador is learning the hard way that the blockchain architecture was never ever meant to do what they are trying to do with it.

Bitcoin transactions can cost up to 40 USD and can take over 30 minutes sometimes. That's not just too slow and expensive, it's completely insane.

I believe that digital currency is the future, but only because I am involved with project that actually does scale to handle all of the world's daily transactions and does so in mere milliseconds and consistently at a fraction of a cent in costs.

If El Salvador chose a Haypenny currency instead of Bitcoin, then every single citizen there would be using digital currency now because it is so easy to adopt (with Haypenny you don't even really need a wallet).

As it is, all El Salvador is showing the world is how silly it is to try to use Bitcoin for something it was never designed to do.