Is Tether the shitcoin, sorry, altcoin that you guys are referring to as where El Salvador is shifting their attention to? If yes, I don’t see that as completely abandoning bitcoin and shifting to something else; rather, they are embracing what will bring more advantage to them in the market. More tether means enough to buy bitcoin with; I don’t know which area you are picturing the attention shifting from, but I don’t see the era of bitcoin ending with El Salvador, even if tether replacing is a fallacy to their vision.
Then why is El Salvador going into Tether? That's the whole point of that story.
Just FYI, L2 Bitcoin such as Liquid and Lightning work beautifully in El Salvador as exchange currencies.
Then why doesn't everybody (including El Salvador) use those?
And an L2 is absolutely, positively,
not Bitcoin because they completely isolate the user from the underlying asset: they could replace the backing with any other asset if they wanted to and the users would not be exposed to the change. It's rather bizarre to call a non-Bitcoin currency a "shitcoin", but an L2 that is functionally
the same exact thing is somehow, "okay".
A new more highly controlled shit-coin would offer nothing toward a solution.
Tell that to El Salvador and the millions of people and thousands of people who use non-Bitcoin digital currencies every single day, and have invested over one trillion dollars in these assets. I guess it could be that all of these people are fools, but personally I'm going to bet they aren't.