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El Salvador makes Bitcoin legal tender

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Re: El Salvador makes Bitcoin legal tender

#8

Is the government accepting it for the payment of taxes and fines? Or are they just forcing businesses to take on the risk of accepting it? I can't imagine what an enormous pain in the ass this is going to be for businesses, given the volatility of BTC.

There are services that convert to fiat currency on the fly, no risk to the business. With the caveat that I have no idea if they are available in El Salvador..

Re: El Salvador makes Bitcoin legal tender

#10
Other governments are already accumulating BTC silently. Way too many eyes on the topic lately. There will be some FUD along the way (maybe even El Salvador banning/unbanning BTC up to few times - the classic) but I believe at some time news will start popping left and right that other countries hold BTC on balance sheets. Will eventually start with ETH too if it hasn't already.

Re people below: I don't have any sources to back up my claim, sorry. I should have put more emphasis that what I wrote is mostly based on my beliefs and observation over years. You will only hear the news after a government has acquired amount of BTC they're satisfied with. If I wanted to acquire large amounts of BTC for the best price, I would do so quietly, while enjoying prices lowered by the Korea/electricity/whatever FUD (not saying these arguments against BTC are invalid but they would serve my goal). Feel free to dispute or downvote, whatever suits you.

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