El Salvador adopts Bitcoin as official currency, first country to do so
Why go with Bitcoin specifically? Why not use the Celo blockchain or Algorand instead and create their own stable coins on there? Both these networks are proof of work, transactions are very fast and cheap as well.Bitcoin is slow to validate transactions, is environmentally costly, and its value fluctuate, so I'm not sure what they were thinking. I wonder what the 30$ they receive from the gov is worth today after the dip.