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20 sats \ 2 replies \ @riberet19 13 May \ parent \ on: El Salvador has its own mempool.space site with its treasury holdings bitcoin
I also think they should spend some of what they save, just saving it I don't think is the best thing to do.
Why do they want it as a currency if they don't use it and create a circular economy around Bitcoin.
If they wanted to enforce a circular economy they could set up a Fedimint and issue ecash to any government employee (teachers, etc.). The bitcoin would always remain in their system assuming they don't open lightning channels to entities outside of El Salvador. With that system in place they can continue stacking and people within their borders can spend it with very low fees.
This is probably how the market will develop long term anyway. Governments will still want capital controls and the people will want sound money. It's not ideal but it feels likely.
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It wouldn't make sense for them to not open lightning channels to other entities outside El Salvador. If El Salvador will never spend their Bitcoin, they might as well not have it.
A Fedimint would be a good idea within the country but I hope the people will be able to easily and directly swap their ecash for ecash in other federations and/or make outbound lightning payments. El Salvador could take fees for swaps and lightning sends while still working hard to offer a place for those who would like to be financially sovereign individuals.
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