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(BBC-US)   Central African Republic makes Bitcoin official currency. Yes, 96% of the population has no access to it... but then again, they probably didn't have any access to the previous currency either   (bbc.com) divider line
    More: Unlikely, Currency, El Salvador, Internet access, Internet, first country, official currency, French franc, suitcases of CFA francs  
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390 clicks; posted to Politics » on 28 Apr 2022 at 9:48 PM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



24 Comments     (+0 »)
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2022-04-28 6:02:31 PM  
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2022-04-28 9:57:35 PM  
I would have expected African Wild Dogecoin.
 
2022-04-28 10:03:42 PM  
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2022-04-28 10:04:00 PM  

WordsnCollision: I would have expected African Wild Dogecoin.


We'll have to start a Dingo coin in AUS.

Deegoe ate me nist eegg!
 
2022-04-28 10:06:38 PM  
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2022-04-28 10:06:42 PM  
Is this the mass adoption I was promised
 
2022-04-28 10:08:08 PM  
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2022-04-28 10:08:32 PM  
Yeah, it's this country, big surprise.
Ambassador Official Trailer #1 (2012) - Documentary HD
Youtube CLQNYsxP9T0
 
2022-04-28 10:19:57 PM  

Jiggatron69: [Fark user image image 640x400]


What the f*ck is this nightmare fuel
 
2022-04-28 10:21:25 PM  

Meatsim1: Is this the mass adoption I was promised


This is early adoption. BTC is now accepted as a currency in more nations than most "real"currencies, which can only be used in their home country.

To the moon 🚀
Or possibly to the shiatter 💩
 
2022-04-28 10:25:44 PM  
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"We're by no means a Belize. But with bitcoin, we COULD be the next El Salvador."
 
2022-04-28 10:29:19 PM  

pastramithemosterotic: Jiggatron69: [Fark user image image 640x400]

What the f*ck is this nightmare fuel


Look up "Crypto Island" and you will see big libertarian galaxy brains at work.
 
2022-04-28 10:32:11 PM  

Jiggatron69: [Fark user image 640x400]


pbs.twimg.comView Full Size
 
2022-04-28 10:48:24 PM  

UNC_Samurai: Jiggatron69: [Fark user image 640x400]

[pbs.twimg.com image 850x465]


Munecat had a great video on this entire crapshow.  Coffeezilla also has a deepdive on the scam that is Crypto Island.
 
2022-04-28 10:59:36 PM  
Once Bitcoin is accepted in as many places as the dollar, it'll easily be worth a dollar.   It's called game theory.
 
2022-04-28 11:17:36 PM  
The official currency of the Central African Republic is the CFA Franc, which is also used in 6 other countries (former French colonies), which together form an economic union of sorts, and is nominally controlled and minted by the Bank of Central African States in Cameroon.

The CFA Franc was pegged to the Franc until 1999, now it is pegged to the Euro. But the currency, and the countries that use it, is heavily propped up by French aid and assistance. It would collapse otherwise.

Point is the Central African Republic does not have monetary sovereignty, never did. Adopting Bitcoin does absolutely nothing to improve this status, but it may be used to pay off debts (in much the same way El Salvador is trying to do, since it uses the US Dollar).
 
2022-04-28 11:20:42 PM  

Rapmaster2000: Once Bitcoin is accepted in as many places as the dollar, it'll easily be worth a dollar.   It's called game theory.


Your mom's sex acts are welcome globally, though its value has yet to break fifty cents.
 
2022-04-28 11:47:55 PM  

Jiggatron69: UNC_Samurai: Jiggatron69: [Fark user image 640x400]

[pbs.twimg.com image 850x465]

Munecat had a great video on this entire crapshow.  Coffeezilla also has a deepdive on the scam that is Crypto Island.


Munecat had a line in her crypto-dystopia video that had me cackling, something about posting in a crypto subreddit that "The Federal Reserve was right about some things", just be able to feel something.
 
2022-04-29 5:01:02 AM  
And just like that, Russia has a new money laundering middle man.
 
2022-04-29 7:13:13 AM  
Retro Bitcoin:

i.ebayimg.comView Full Size
 
2022-04-29 7:57:17 AM  
Wtf actually uses bitcoin as currency? It's an investment and nothing more.

Unless you're dealing in guns, drugs, or humans of course.
 
2022-04-29 9:45:04 AM  

LL316: Wtf actually uses bitcoin as currency? It's an investment and nothing more.

Unless you're dealing in guns, drugs, or humans of course.


If I invest in oil futures, I know there's oil that has value.

If I invest in Microsoft or Ford, the company produces something of value, has dividends, and at the very least has equipment and property that's valuable in a liquidation.

What is the value of a Bitcoin besides the hope of a greater fool?
 
2022-04-29 2:09:40 PM  
This is so insignificant, that I hadn't heard of the Central African Republic since world geography class 35 years ago. At least I assume I did, because I didn't know if was a real country until yesterday.
 
2022-04-29 2:11:03 PM  

LL316: Wtf actually uses bitcoin as currency? It's an investment and nothing more.

Unless you're dealing in guns, drugs, or humans of course.


It is a great currency. I bought my house with Bitcoin, and now my mortgage is $200k a month.
 
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