Throwing around terms like ‘dictator’ should come with a little more evidence than the author provides for a president fairly elected two years ago. Why can’t this publication bring itself to give both sides of this issue? It’s precisely what you pride yourselves on doing, but there’s been nothing but negative, accusatory and in my opinion poorly informed articles on Bitcoin. It may have it’s downsides, but there are certainly good arguments in support of it, you should inform your readers of both sides to give them the opportunity to make up their own minds.
Surely you do not expect every article to give both sides? This on is anti – the policy of bitcoinization of El Salvador, and is also taking ‘dictator’ from the Slate magazine linked above.
“Meet Latin America’s First Millennial DictatorThe self-described “coolest president in the world” is developing a new form of authoritarianism that may soon attract imitators.”
Tether is what I keep wondering about, the $ backed Stable Coin that is used in 70% of all bitcoin transactions as the medium between bitcoin and Fiat. As it is backed by questionable Corporate ‘Paper’ rather than Treasuries, it adds another worrisome layer to the whole thing.
This situation is a wild thing, I want Unherd to keep up a steady stream on Crypto – and CBDC especially as I hear really weird things of the Digital renminbi.
LCarey Rowland
2 years ago
In the world community, somebody (some country) had to do this. Perhaps Bukele’s initiative will prove to be the first step of an international movement. Or! or a disaster waiting to happen in which the world will observe, and learn, about the the actual, functional claim–or failure thereof– of Bitcoin (and cryptos generally) to facilitate productive economic activity and value storage.
We shall see. Maybe El Salvador will emerge as the mouse that roared.
Hardee Hodges
2 years ago
Watching the volatility of an intangible asset suggests why many would be unhappy over an unstable currency. While removing themselves from dependence on the dollar might be admirable, Bitcoin as a medium of daily exchange seems foolish. As with gold, there is not enough for all transactions. When the last one has been minded there are no more but perhaps it’s value might be stable. Great experiment, but likely to fail.
“While removing themselves from dependence on the dollar might be admirable,”
???????????? Why? They actually take all Currincies as valid – you can use Euros there too – or British Pounds, or Rubles. But the Dollar is a great thing for stability there, don’t rush to fix what is not broke.
Why Down vote this? El Salavador has been ‘Dollarized’ for 20 years, with many countries. It was staring at hyperinflation, which is the most destructive force there is on a people, and so got a sold currency. This has been good.
Throwing around terms like ‘dictator’ should come with a little more evidence than the author provides for a president fairly elected two years ago. Why can’t this publication bring itself to give both sides of this issue? It’s precisely what you pride yourselves on doing, but there’s been nothing but negative, accusatory and in my opinion poorly informed articles on Bitcoin. It may have it’s downsides, but there are certainly good arguments in support of it, you should inform your readers of both sides to give them the opportunity to make up their own minds.
Surely you do not expect every article to give both sides? This on is anti – the policy of bitcoinization of El Salvador, and is also taking ‘dictator’ from the Slate magazine linked above.
“Meet Latin America’s First Millennial DictatorThe self-described “coolest president in the world” is developing a new form of authoritarianism that may soon attract imitators.”
Tether is what I keep wondering about, the $ backed Stable Coin that is used in 70% of all bitcoin transactions as the medium between bitcoin and Fiat. As it is backed by questionable Corporate ‘Paper’ rather than Treasuries, it adds another worrisome layer to the whole thing.
This situation is a wild thing, I want Unherd to keep up a steady stream on Crypto – and CBDC especially as I hear really weird things of the Digital renminbi.
In the world community, somebody (some country) had to do this. Perhaps Bukele’s initiative will prove to be the first step of an international movement. Or! or a disaster waiting to happen in which the world will observe, and learn, about the the actual, functional claim–or failure thereof– of Bitcoin (and cryptos generally) to facilitate productive economic activity and value storage.
We shall see. Maybe El Salvador will emerge as the mouse that roared.
Watching the volatility of an intangible asset suggests why many would be unhappy over an unstable currency. While removing themselves from dependence on the dollar might be admirable, Bitcoin as a medium of daily exchange seems foolish. As with gold, there is not enough for all transactions. When the last one has been minded there are no more but perhaps it’s value might be stable. Great experiment, but likely to fail.
“While removing themselves from dependence on the dollar might be admirable,”
???????????? Why? They actually take all Currincies as valid – you can use Euros there too – or British Pounds, or Rubles. But the Dollar is a great thing for stability there, don’t rush to fix what is not broke.
Why Down vote this? El Salavador has been ‘Dollarized’ for 20 years, with many countries. It was staring at hyperinflation, which is the most destructive force there is on a people, and so got a sold currency. This has been good.