[Wayne 962]

While your arguments make sense on a theoretical level, on a practical level, accepting Bitcoin doesn't make sense for a country like El Salvador. It's a lot of work and technically difficult for businesses to accept a different form of currency and then have it converted back to their own currency (which they then use to buy products and pay employees). Firstly, the costs associated with accounting for different currencies are large, and also the Bitcoin transaction fees combined with any "exchange" fees into local currencies will be large as well.

As for citing Venezuela, it's a failed country with a failed economic system grasping at everything and anything that might work against hyperinflation, no matter what the costs and downsides. I would concede that a crypto would work okay (not great) in a desperate situation like this, but it's hardly an argument for wide-scale adoption.

In my objective opinion, I have not yet heard any real-world compelling arguments for the wide-spread real-world (non-illegal) adoption of crypto currencies. In fact, the momentum appears to be shifting - China arresting 1,100 people for laundering through crypto, Tesla/Elon's abandonment of Bitcoin, the backwardation of the Bitcoin futures contracts, etc. The *only* thing backing Bitcoin is the momentum of people supporting it, and other than the El Salvador news this week, it's been pretty much all bad.

-Wayne