Post
Topic
Board Bitcoin Discussion
Merits 2 from 2 users
Re: Why has bitcoin adoption failed in El Salvador?
by
Sr.Urbanist
on 29/08/2022, 01:28:22 UTC
⭐ Merited by JayJuanGee (1) ,NotATether (1)
It has not failed, though it appears adoption is slow everybody has access to the Chivo wallet and can spend at Super Selectos, Simon and other large chains. Individuals also accept it, but you do not see ... such as services rendered from the US (gardening, medical, cleaning). There was more than $50M in remittances in the past year.

A major problem is that most do not understand "not your keys? not your coins." In fact, it appears as though many of the $LBTC transactions may actually be Chivo-to-Chivo because I have tried paying two separate parties with Lightning and it did not work. I even tried both implementations and paid the $4 watchtower fee. It's a little concerning that the government holds all of the keys on an exchange in Mexico called Bitso.

But the cool thing is they can accept from any BTC wallet and send to any BTC wallet. Plus, it is ONLY BITCOIN - which is huge. That drops everything else out of the equation and they are building legal securities infrastructure (with the help of Simon Dixon and Blockstream) on top of Bitcoin.

Have a good day. And, please, visit the eastern part of El Salvador ... a place called Tropico Inn at El Cuco is a local favorite for those living in San Miguel (the largest city near to where Bitcoin City is slated to be.) Come visit the east not just San Salvador and drive via Usulutan not San Vicente, it's faster. I have an Airbnb if anyone is interested.