<story><title>One year on, El Salvador’s Bitcoin experiment has proven a failure</title><url>https://theconversation.com/one-year-on-el-salvadors-bitcoin-experiment-has-proven-a-spectacular-failure-190229</url></story><parent_chain><item><author>croon</author><text>It&amp;#x27;s not a failure because Bitcoin tanked (relatively), it&amp;#x27;s a failure because Bitcoin tanking was and will always be a significant risk. People who got rich from Bitcoin weren&amp;#x27;t savvy, they won the lottery. It&amp;#x27;s not a sound investment decision based on outcome. Investments are sound based on probability and risk beforehand.&lt;p&gt;El Salvador gambled which is stupid. Whether they won or lost at the lottery is inconsequential to its stupidity.</text></item></parent_chain><comment><author>afterburner</author><text>It&amp;#x27;s worse than a lottery for some. It rewarded incorrect thinking on how the financial industry works.&lt;p&gt;Speculative spikes can happen for a lot of reasons, but that Bitcoin would replace all currencies (as early advocates would have had you believe) was not one of those reasons.</text></comment>
<story><title>One year on, El Salvador’s Bitcoin experiment has proven a failure</title><url>https://theconversation.com/one-year-on-el-salvadors-bitcoin-experiment-has-proven-a-spectacular-failure-190229</url></story><parent_chain><item><author>croon</author><text>It&amp;#x27;s not a failure because Bitcoin tanked (relatively), it&amp;#x27;s a failure because Bitcoin tanking was and will always be a significant risk. People who got rich from Bitcoin weren&amp;#x27;t savvy, they won the lottery. It&amp;#x27;s not a sound investment decision based on outcome. Investments are sound based on probability and risk beforehand.&lt;p&gt;El Salvador gambled which is stupid. Whether they won or lost at the lottery is inconsequential to its stupidity.</text></item></parent_chain><comment><author>jollybean</author><text>It should not have been any kind of &amp;#x27;investment&amp;#x27; in the first place.</text></comment>