Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Why has bitcoin adoption failed in El Salvador?
by
AakZaki
on 29/04/2022, 09:10:41 UTC
⭐ Merited by JayJuanGee (1)
~snip~
I don't consider that bitcoin adoption failed in El Salvador because millions of people used bitcoin and downloaded Chivo wallet, because they all received $30 for free.
Fan fact is that more people used Chivo wallet than El Salvadorian bank, but that doesn't mean that citizens are receiving paychecks and earnings in Bitcoin, and it's normal activity will slow down after $30 was spent.
There is no going back now, but I would promote other wallets that are free and non-custodial in El Salvador.
You are right, it all takes time to be perfect. I am already proud of the courage and speculation of President Nayib Bukele. They boldly legalized bitcoin which the IMF has opposed. Although they have to accept the risk of not getting money and the World Bank also does not give him a loan. The transactions of few users do not understand I think it is limited because they do not have the ability of the economy evenly. I think it's quite interesting with the Airdrop that has been given, it's one form of introduction. Perhaps Bukele has other main goals such as making Bitcoin a reserve of the country's assets.