It doesn't really help my faith in BTC when the article never refers to actual Bitcoins like currency, and instead uses USD equivalent everywhere.
> Transfers of $35/family are made to 600 families every 3 weeks, which covers 50% of basic needs per household.
$35? Or $35 equivalent in Bitcoin? The article never really explains why giving them bitcoin is better than just giving them $35 in paper bills and coins. Just that the person giving the money will only do so as BTC, it doesn't sound like the townsfolk have any say in it.
> At the time of writing, the price of Bitcoin is $9226.56.
So anyone who paid their utility bill with Bitcoin at the time of the article overpaid by 4x compared to current bitcoin prices, or about 6x compared to the peak.
How realistic is it for this to continue when delaying a utility bill by a month could possibly make the value of that bill half, or double. I don't see how this can scale, and it sounds like the El Zonte situation only works because of the guaranteed BTC income by a benefactor.
> Transfers of $35/family are made to 600 families every 3 weeks, which covers 50% of basic needs per household.
$35? Or $35 equivalent in Bitcoin? The article never really explains why giving them bitcoin is better than just giving them $35 in paper bills and coins. Just that the person giving the money will only do so as BTC, it doesn't sound like the townsfolk have any say in it.
> At the time of writing, the price of Bitcoin is $9226.56.
So anyone who paid their utility bill with Bitcoin at the time of the article overpaid by 4x compared to current bitcoin prices, or about 6x compared to the peak.
How realistic is it for this to continue when delaying a utility bill by a month could possibly make the value of that bill half, or double. I don't see how this can scale, and it sounds like the El Zonte situation only works because of the guaranteed BTC income by a benefactor.