this post was submitted on 04 Feb 2025

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El Salvador Abandons Bitcoin as Legal Tender After Failed Experiment (ticotimes.net)

submitted 1 week ago by ooli2@lemm.ee to c/worldnews@lemmy.ml

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[–] mortemtyrannis@lemmy.ml 8 points 6 days ago (1 children)

Nothing backs US currency?

I’d argue the US military backs the US dollar.

[–] technocrit@lemmy.dbzer0.com 3 points 6 days ago

Violence based currencies are not sustainable in the long term. That's why the petrol-dollar has been steadily decreasing in global reserves. It's why the IMF has to outlaw bitcoin instead of competing with it.