The National Review featured renowned bitcoin critic Steve Hanke as he turned his eye to a new target, President Nayib Bukele. Time and again, Bitcoin proves this economist who works for Fiat wrong. But his job depends on whether he can find a way to criticize el Salvador’s bitcoin law. Hanke’s recent article in the National Review is his best shot. Did Hanke do the right thing by implying that there was something wrong with Nayib Buke’s presidency? We didn’t know it. These issues are outside the bitcoinist domain.
Reading on the subject / Steve Hanke calls President Salvador “home” to make Bitcoin legal tender
Does he cope well with the blows to bitcoin through the article? Absolutely no. In the next lines, we will respond to”kryptogeld Hanke’s crazy ideas and misconceptions.”
7. Is The National Review Of The Substance Not Yet Clear?
Steve Hanke begins his sermon by beating a dead horse:
“The most controversial feature is Article 7, which stipulates that every economic agent in el Salvador will accept bitcoin as payment for goods and services. Accordingly, after September 7, Bitcoin will not only be a legal tender, but also a mandatory tender tool.”
Nayib Bukele himself made a detailed statement on the matter. “Article 7 is very important. 7, however.Article 8. and 12. you can’t look at articles without looking at them because they work together,” he said. Coincidentally, the national newspaper does not even mention other articles. To summarize:
The main beneficiaries of the Bitcoin Act are the cashless 70% of El Salvador’s population.
The government must guarantee that BTC will produce these 70% of the people that can be used in the core economy. If they don’t, it will destroy the entire purpose of bitcoin law.
Sellers must accept BTC, but they do not have to keep them. They can turn them into dollars right away.
The government created a fund to enable this instant dollar conversion. They take on the risks of volatility in every trade.
Non-humans
