El Salvador becomes the first country to adopt bitcoin as legal tender

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Legal tender translates that the currency has to be accepted when offered in any payment of a debt. Currently El Salvador only uses US dollars as legal tender.


I bet all of those businesses in El Salvador will love it the next time Bitcoin crashes by 40%.


“Don’t leave the store until we have 2 verifications please. Could take up to a couple hours, thanks”


Salvadoran here, really interested in how things go. It really depends on how they implement it, it’ll probably be a banking nightmare.


“Ok sure that will be 15.49” “Here’s 15.49” “Actually that’s 15.31” “Oh. Well HERE is 15.49” “Ok. Here’s your 13.55 in change”