El Salvador Is Printing Money with Bitcoin(foreignpolicy.com)

1 pointsby davidgerard5 anni fa1 comments

El Salvador Is Printing Money with Bitcoin

https://foreignpolicy.com/2021/06/15/el-salvador-bitcoin-official-currency-printing-money/

2 comments

I don't understand. The idea is to switch the bank account from US-Dollars to Tethers? To SV-Dollars? To SV-Tethers?

Hi from Argentina! Been there, done that. Note that at the end of the convertibility, the Peso was devaluated from 1<->1 to 1<->1.4, and most of the US-Dollars accounts were frozen and later converted to Pesos (IIRC the small banks account at a 1.4 ratio, but it was not possible to buy the equivalent amount of Dollars, and the large account were exchanged for long term bond.) https://en.wikipedia.org/wiki/Corralito

cryptohacks5 anni fa