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Bitcoin Now Legal Tender in El Salvador, First Nation to Adopt Cryptocurrency

posted by martyb on Thursday June 10 2021, @07:35AM   Printer-friendly
from the [bit]coin-of-the-realm? dept.

Freeman writes:

Bitcoin now legal tender in El Salvador, first nation to adopt cryptocurrency:

On Wednesday, El Salvador’s president signed into law a proposal to adopt bitcoin as legal tender, making the Central American nation the first in the world to officially use the cryptocurrency.

The new law says that companies must accept bitcoin as a form of payment, and the government will allow people to pay taxes with it as well. The exchange rate with the dollar will be set by the market, and exchanges from dollars to bitcoin won’t be subject to capital gains tax. The law was passed by a supermajority vote of the legislature, with 62 of 84 deputies assenting.

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  • (Score: 2) by maxwell demon on Friday June 11 2021, @06:29AM (3 children)

    by maxwell demon (1608) on Friday June 11 2021, @06:29AM (#1144191) Journal

    You still quoted far too much. Here's the clean link:

    https://www.officialdata.org/us/inflation/1800?amount=1 [officialdata.org]

    --
    The Tao of math: The numbers you can count are not the real numbers.
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  • (Score: 2) by JoeMerchant on Friday June 11 2021, @12:15PM (2 children)

    by JoeMerchant (3937) on Friday June 11 2021, @12:15PM (#1144225)

    Thanks, and if you change the start date to 1972 you can see the linear trend I was referring to pretty clearly:

    https://www.officialdata.org/us/inflation/1972?amount=1 [officialdata.org]

    A suspicious mind would think that the trend is intentional.

    --
    🌻🌻 [google.com]

    • (Score: 2) by maxwell demon on Saturday June 12 2021, @12:17AM (1 child)

      by maxwell demon (1608) on Saturday June 12 2021, @12:17AM (#1144419) Journal

      No need to be suspicious, you can just read their official policy: [federalreserve.gov]

      The Federal Open Market Committee (FOMC) judges that inflation of 2 percent over the longer run, as measured by the annual change in the price index for personal consumption expenditures, is most consistent with the Federal Reserve’s mandate for maximum employment and price stability.

      So yes, this trend is absolutely intentional.

      --
      The Tao of math: The numbers you can count are not the real numbers.

      • (Score: 2) by JoeMerchant on Saturday June 12 2021, @03:55AM

        by JoeMerchant (3937) on Saturday June 12 2021, @03:55AM (#1144485)

        They're manipulating our money, and have been ever since they took the silver out of coins... say it isn't so!!!

        Also, spoiler alert for every worker drone who gets 2% annual raises and less than 2% interest in your savings accounts... you can do the math, can't you?

        --
        🌻🌻 [google.com]