Bitcoin maxis really making a meal out of El Salvador. Imagine having to set down law in a country in order to force business and consumers to use a specific payment technology. It’s like going back to 2006 and forcing America to use Zune instead of being able to choose an iPod. Microsoft Zune didn’t stand a chance as Apple had already infiltrated windows with iTunes in 2003. Here we are again with Bitcoin trying to force itself into a market place when it’s payment technology doesn’t work. Bitcoin Cash already works and is already being used by merchants in the region. So for instance anyone traveling between countries adjacent to El Salvador can already use Bitcoin Cash yet El Salvador is trying to force a specific system with poorer performance to be adopted. This is going to be very interesting to watch unfold - and I believe the reason Bitcoin maxis are so afraid of competition is that when consumers begin to actually use crypto they’ll want to use the one that not only works but works everywhere. In addition it might be the power of counter culture, dissidence against the authority, that’s sees Bitcoin Cash or other payment specialist cryptos getting adopted at a higher rate despite government promotion. #BitcoinCash
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2 comments
I heard issues are rising already pertaining to payment of salaries with Bitcoin. The public is against it. It would have been better if they've gone for BCH
Yeah authoritarian systems have a habit of rubbing people up the wrong way.