Peter McCormack discusses the latest developments in the world of Bitcoin. The most important news is that El Salvador moved to make Bitcoin legal tender, alongside the U.S. dollar, which McCormack says is huge for its viability as a mainstream currency. Bitcoin should help to solve several problems that have long plagued El Salvador’s economy, and other Latin American countries may well follow suit. More and more people are also spending and accepting Bitcoin around the world, rather than just using it as an investment, especially as payment networks get better. Of course, the U.S. government isn’t terribly happy about any of this, since it threatens the position of the dollar as the world’s reserve currency. The beautiful thing about Bitcoin, McCormack says, is that there’s nothing they can do to stop it.
Discussed on the show:
- “How Bitcoiners Are Working With El Salvador’s Leaders” (Decrypt)
- “Contra Corner Monetary Arsonists At Work” (David Stockman’s Contra Corner)
This episode of the Scott Horton Show is sponsored by: The War State and Why The Vietnam War?, by Mike Swanson; Tom Woods’ Liberty Classroom; ExpandDesigns.com/Scott; EasyShip; Thc Hemp Spot; Green Mill Supercritical; Bug-A-Salt; Lorenzotti Coffee; Zippix Toothpicks and Listen and Think Audio.