Post
Topic
Board Bitcoin Discussion
Re: Why has bitcoin adoption failed in El Salvador?
by
JayJuanGee
on 31/08/2022, 21:57:18 UTC
Besides the fact that, to me, it's really difficult to understand how someone could say that the bitcoin adoption failed just after a few months (credit card, internet, television... It was the same), it would be great to actually ask these people who protested what bitcoin is and what they're knowledge level is as well:

I'm pretty sure that 99.9% have absolutely no clue and they're protesting just because someone else told them to protest.
It was 7 months have passed already by the time he created this thread and maybe for him that was a long time already to make a judgment

Surely goes to show you that the theme to this whole thread has quite a bit of disingenuiness - because surely it is possible that El Salvador could end up failing in its attempt to adopt bitcoin and the way that it implemented bitcoin as legal tender.. but surely the extent to which El Salvador is successful or not does have to do with ways in which success failure are measured, while at the same time, the goals/objectives might end up changing too based upon ongoing happenings, learnings and developments.

but I think you are right that it was too early. It would be better if we gave them more time and see if what is the true outcome of this decision. If people on that country start to love bitcoin and like its benefits or the decision is still the same.

I suppose no matter what there are going to be some people who advantage from the implementation of the bitcoin-friendly laws in El Salvador, so then the more profound questions would likely be more granular in terms of attempting to assess various cost benefits and if the policy is continued or if it were to end up being abandoned.. along with one of the BIGGER successorship questions that could be answered in 2024 or it might not get addressed until sometime closer to 2029 (in the event that Bukele were to win another 5 year term from 2024 to 2029 - so we cannot really know some of those dynamics, yet.. and if there is any kind of potential for successorship situation (which seems to always be something that should be accounted for), then it would be nice to see some kind of policy announcement in advance).

About the items that you mentioned above, I don't think they are like bitcoin that is being hated when they first came out because they are so innovative and people like them instantly but for bitcoin? It wasn't the first digital payment method and its origin or use is also complicated for the many.

We should be able to speculate that the longer that bitcoin as legal tender is in place in El Salvador, then the more informed the populace should become in regards to the extent to which they perceive bitcoin to be helpful or harmful to themselves and/or to their country. We should presume that the arguments for and against bitcoin should get better with the passage of time too - even though many of us who have been in the bitcoin space for a decently long period of time likely recognize and appreciate that on an ongoing basis there are seemingly lame anti-bitcoin talking points that get recycled over and over and over - even when the factual basis for such arguments seem to have roots in what was happening in bitcoin in some earlier time (such as 2017), and surely another common theme continues to be the mixing up of arguments related to bitcoin and criticisms of the overall crypto space that seem to convolute and confuse ideas of what is bitcoin versus what is happening in other areas of the crypto (shitcoin) space that may well not be very well connected to bitcoin, and it is possible that El Salvador may be able to keep itself more bitcoin focused in the coming years so that some of the bitcoin versus shitcoin arguments/convolutions would be less applicable in terms of what El Salvador is doing and/or attempting to do with its ongoing implementation and adoption practices.