Post
Topic
Board Bitcoin Discussion
Re: El Salvador official wallet app @chivowallet go offline
by
Fortify
on 12/09/2021, 10:29:22 UTC
Today marked the history of Bitcoin becoming a legal tender, El Salvador a country in north-central America has become the first country to approve the operation and acceptance of Bitcoin as a legal currency.

The government wallet App chivowallet got overloaded in the early hours, which resulted in it going offline citizens are having miss feeling about the stability of the app and the El Salvador economy.

I hope the government of El Salvador have a lot of money to invest and maintain the security side of the wallet app. They will look like huge fools if it gets compromised and it will undermine their initial case for using Bitcoin. You have to expect there to be some blips and it possibly going offline due to large volumes of users in the first few days, but after a couple weeks they better be able to keep it online. Considering the wage in El Salvador is quite low per month, I think the free $30 could amount to a free 5-10% one off pay out for new users, so it was bound to attract huge attention and there was probably some nefarious actors who wanted to DDOS blackmail the government at the opening as well.