https://news.ycombinator.com/item?id=27447757
And this one 4 days ago:
Decentralization and processing speed + gas fee is inversely correlated it seems like. L2 is just a fancy way to reduce decentralization and thus gas fees.
The speech itself seemed to contain a very basic 1% fallacy - "Bitcoin has a market cap of X billion, if we can attract just 1% of that to El Salvador as investment...."
Oh well, good luck to them I guess.
https://www.wsj.com/articles/el-salvador-becomes-first-count...
El Salvador Becomes First Country to Approve Bitcoin as Legal Tender
Designation allows bitcoin, which has struggled as a method of payment because of its high volatility, to be used to pay taxes and obligates business to accept it
That's annoying.
So the money you make in a day is suddenly down 15% and takes time to exchange for fiat, meanwhile you're just trying to pay rent, payroll, bills and purchase orders in a timely and efficient manner. Great.