Quote from: mindrust on July 16, 2025, 05:23:48 AM

We can’t blame the IMF but El Salvador or El Savadorians also didn’t fail at anything.

The government prepared the most optimal environment for bitcoin and people still didn’t want to use bitcoin. That can only have one explanation.

Btc is not ready for that kind of usage.

USD is centralized and always a loser in the long term but it has something which btc lacks, it is practical.

It is as simple as that. No need to blame anyone just because btc didn’t work in El Salvador. You may say people were not ready for it, btc wasn’t designed to be used in daily purchases etc but the result is the same. People wanted to use usd more.

Had The US (or any other country for that matter) tried the same thing, the results wouldn’t have been much better.

El Salvador did nothing wrong.

Well, people wouldn't want to use something as volatile as Bitcoin as a currency. They prefer stability above all else. And the USD proves to be a clear winner. Besides, BTC's deflationary model encourages people to hoard it like a store of value. If Bitcoin had stable market prices and was inflationary, El Salvador's efforts would've been a huge success.

The next big thing would be Bitcoin-backed stablecoins on the BTC blockchain (or an L2). And if the US government goes as far as backing the USD with BTC, things will be even better. AFAIK, Bitcoin is still legal tender in El Salvador. It's just that its use is optional (instead of mandatory like it was before). Who knows? Maybe someday El Salvador won't need the IMF anymore. Let's hope it keeps buying and holding BTC forever.