Post
Topic
Board Bitcoin Discussion
Re: Bitcoin as legal tender: A failed experiment?
by
Ivystar5
on 16/07/2025, 19:39:45 UTC
~~

We can’t blame the IMF when El Salvador has failed to adopt Bitcoin as a currency. Because they have adopted bitcoin as legal currency since 2021 and according to many reports in 2023 and 2024, people there do not like to use bitcoin instead of USD in daily transactions. People still like fiat money because of their habits, bitcoin price fluctuates...this failure has nothing to do with the IMF.

Don't just blame others for your failures when you don't plan well enough.

Another thing is that El Salvador sought help from the IMF after bitcoin adoption failed because it did not improve their economy as expected.
Of course we can't blame anyone for the failure of bitcoin usage in El Salvador but the simple truth is that bitcoin basically wasn't a currency that was meant to have a head up against fiat but to be an Alternative currency for those who will be pissed with faith system and el Salvador only saw bitcoin as an avenue to escape poverty in the country and not for the betterment of anything else. however, only holding bitcoin would have been better off than a legal tender.

Although being a legal tender doesn't mean it should be used majorly but only those who care should do so but however IMF is always in places where they would be able to disorganized the economies, it's a sad truth! it's a tool used by some country with power to distablize other countries.