Foreign Policy: El Salvador’s Bitcoin Law Is a Farce

I collected about 800 words of notes on how Chivo’s gone in El Salvador this week. James Palmer at Foreign Policy had suggested we should do a piece once El Salvador was a week into the Bitcoin Law, so I put this together last night and it’s just gone up. [Foreign Policy]



The Chivo kiosk that was set on fire, an image that’s gone around the world, was not in fact the work of the anti-Bitcoin protestors — but of apparently government-sponsored provocateurs. How do we know? They got their T-shirts for the day from a government truck that had previously distributed food parcels in the pandemic! [Twitter, Twitter]

Salvadorans regarded this as buttcoin-quality comedy, but the world’s media presented it straight. I’m most pleased to get a chance to set the record straight in a proper publication.

Thanks to the Salvadorans who helped with fact-checking and suggestions. There is so much that I have good sourcing for but can’t write up yet …

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2 Comments on “Foreign Policy: El Salvador’s Bitcoin Law Is a Farce”

    1. FTX and Tether are conducting MASSIVE fraud.

      1. Print Tethers out of thin air (USD counterfeiting)

      2. Use Tethers to buy Bitcoin, artificially pumping the price

      3. Dump the bitcoin on idiot millennials and greedy Wall Street firms

      4. Walk away with real USD.

      Rinse and Repeat !!!

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