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El Salvador’s adoption of bitcoin as legal tender is pure folly

Photo by: The Guardian

Cryptocurrencies are a baffling entity but adopting it as legal tender is the strangest, most worrying aspect of all El Salvador this month became the first country to adopt a cryptocurrency – in this case, bitcoin – as legal tender. I say the first, because others might follow. But they should think twice, because the idea is highly dubious – and likely to be economically dangerous for developing...

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