Quote from: bestcoins1 on Today at 12:35:26 AM

Quote from: Dissimulate on August 24, 2022, 06:55:59 AM

It is just a situation that is caused by dropping of value of Bitcoin which will improve itself as the Bitcoin value will correct itself.

I don't think it's the decline in the value of Bitcoin that has failed bitcoin adoption in El Salvador. But it's more for residents who don't consider Bitcoin as an important currency, so there are still many residents in El Salvador who still prefer to use cash, debit, and credit cards.

And according to research I read on a site, it says that more than 60% of respondents throw away government Chivo wallets after using the $30 bonus. Surprisingly, 89% of Salvadorans have never received remittances with the app, only 3% of respondents have received them in Bitcoin. However, 99% of respondents have never paid taxes with Bitcoin.

I think that this is the peak of the failure of bitcoin adoption in El Salvador, although the government of El Salvador can still improve the situation in order to make bitcoin adoption smoother and more equitable for all citizens and also provide education about the importance of bitcoin currency in life.

I don't see any connection to the market drop that caused El Salvador's failure to accept bitcoin. Legal tender is what makes bitcoin legal in El Salvador, bitcoin will be the main currency that people can use however they like, not necessarily investment.

Recently they claim bitcoin adoption is helping their country go up and attract many new investments into the country and I haven't seen any claims they have failed, why do we always predict that they have failed? They never fail, bitcoin adoption has some hurdles but they can fix it and will adapt better and better, shouldn't ask for too much while adoption is short-lived. We should give them more time.