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by JumpCrisscross 1739 days ago
> Normal banks already do that

70% of El Salvadorians don't have a bank account [1].

[1] https://datacatalog.worldbank.org/dataset/el-salvador-global...

1 comments

What you said does not contradict the parent comment. Just because Bitcoin is now a thing in El Salvador it doesn't mean that that missing 70% will now starting using it.
> What you said does not contradict the parent comment. Just because Bitcoin is now a thing in El Salvador it doesn't mean that that missing 70% will now starting using it.

It was alleged this move would let percent "removing anonymity and ensur[e] the government can monitor their population effectively" [1]. Counterargument was that "normal banks already do that" [2].

That is true. But 70% of El Salvadorians don't use "normal banks." They use cash. Cash does not "ensur[e] the government can monitor its population." This Bitcoin rollout does.

So yes, an El Salvadorean using a bank to do business and switching to Bitcoin gives up no privacy. But one using cash does.

[1] https://news.ycombinator.com/item?id=28447197

[2] https://news.ycombinator.com/item?id=28447562