this post was submitted on 18 Mar 2024
254 points (92.6% liked)

Technology

59378 readers
3014 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
L3s@lemmy.world
L3s@fry.gs
L4s@fry.gs
L4s@lemmy.world
enu@lemmy.world
254
El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC 'Becomes Unaffordable' With Fiat Currencies, Says President Bukele – Featured Bitcoin News (news.bitcoin.com)
submitted 8 months ago by AnActOfCreation@programming.dev to c/technology@lemmy.world
100 comments fedilink hide all child comments
 
  • El Salvador will continue buying 1 Bitcoin daily until it becomes unaffordable with fiat currencies
  • President Bukele's statement highlights commitment to cryptocurrency adoption
  • Move demonstrates belief in Bitcoin's long-term value and potential as a global currency alternative.
you are viewing a single comment's thread
view the rest of the comments
[–] PatFussy@lemm.ee 20 points 8 months ago (1 children)

Bukele and his government is nothing like Trumps. He doesn't want El Salvador to use USD as the standard currency, that's it..

[–] frezik@midwest.social 3 points 8 months ago

Which is understandable, but I don't understand his plan. If 1 BTC is unaffordable, then people will buy 0.1 BTC. If that's unaffordable, then people will buy 0.01 BTC. And so on. You have to go down to 0.00000001 BTC before the limit is reached (0.000633158 USD at current prices, which is smaller than a mill). Since every zero there is another order of magnitude, I don't see how a small nation state could make even the smallest BTC unit unaffordable. Maybe the G7 banding together could do it.