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> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
My 2 cents about it. https://twitter.com/neiman30/status/1401592760084336648 Editing: sorry for sharing the tweet instead of rewriting the content here, it was a lazy move on my side.
> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
.
I don't see how this is going to benefit Salvadorans. As much as I try, I can't find a use case beyond money laundering, ransomware and extortion.
Going to help the kidnappers get paid. A fair bit of those in El Salvador: https://www.hrw.org/world-report/2020/country-chapters/el-sa...
> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
My 2 cents about it. https://twitter.com/neiman30/status/1401592760084336648 Editing: sorry for sharing the tweet instead of rewriting the content here, it was a lazy move on my side.
Wasn't there a vote?
> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
What the normal people will use in the beginning is going to be non-custodial LN based solution like strike. Minimal fees, easy to use. If you get a bit more, move to custodial LN wallet/onchain transactions. More fees, more security and less trust. And once you have too much BTC start storing them in an offline cold storage.