Bitcoin banned in Ecuador in 2014 by previous regime

in digital •  7 years ago 

Anybody heading to Ecuador and need someone to answer their queries, give me a holler and I will give it a try.

Bitcoin banned here some years ago as previous regime tried to introduce their own crypto, a parallel currency to their US$ based economy. They needed/need liquidity and can't print their own script so next best was to create digital money. So far it has not been well received as it is a local currency managed by a central bank. The idea of handing your US$ over to Central Bank in exchange for some digits on your cellphone is not convincing many.

digital currency
7 years ago by

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