Bye bye legal tender 👋

So bad is basically: -shops don't have to accept bitcoin -all taxes have to be paid in dollars. Not great, not horrible either. Something I'm missing?

I didn't realize there were such loopholes. Thought it was only legal tender in El Salvador.

The note about the public sector would be worrying if they could actually enforce it. But they can't because Bitcoin is P2P. Just kicking the can down the road to the inevitable. The IMF is at the behest El Salvador because of Bitcoin. This is the IMF holding on for dear life to the dollar. El Salvador can use the money to grow their operation even more while the dollar dies even more slowly. I'm still optimistic.

So glad i didn't pull the trigger early like so many and move there. I told my wife, better to let it play out for a while. They took the bait. Co-opted

Imf getting their foot in the door. Look how that ALWAYS plays out

Money.

I've been losing respect for max over the past two years. Starting to see they're on the hook. They know very well how imf involvement always ends. They just have too much invested there that they have to tow the line. Sad to see. I think they forgot the STAY HUMBLE part when max started proclaiming bitcoin is God. @Max Keiser @Stacy Herbert

It is defeat. Will Bukele accept the terms?

I'm not concerned. If by legal tender, we mean forced to accept it, then legal tender sucks anyway. Voluntary cooperation is much more in line wit bitcoin's ethos, IMHO. Securing a shit load of fiat for a reasonable interest rate without selling corn is rad. Maybe now they can mine their $3T gold deposits, drop heavier investments into BTC, and pay off their IMF loan slowly as their cost basis on the interest shrinks to zero against their bitcoin holdings. Win win. Not taking this deal would be ridiculous.

Thoughts on @Sjors Provoost (possibly compromised)'s interpretation?

Ok, I was wrong. This is actually halarious. View quoted note →