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this post was submitted on 18 Mar 2024
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Bukele and his government is nothing like Trumps. He doesn't want El Salvador to use USD as the standard currency, that's it..
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.