Post
Topic
Board Bitcoin Discussion
Merits 3 from 2 users
Re: Why has bitcoin adoption failed in El Salvador?
by
348Judah
on 13/09/2022, 19:05:58 UTC
⭐ Merited by GiftedMAN (2) ,JayJuanGee (1)
Yet, that hasn't stopped El Salvador from reverting its decision of accepting BTC as legal tender

i don't think this will be possible, this is legal currency we are talking about and don't you think El-Savador isn't cracking a joke when it declared bitcoin as a legal tender? they cannot revert it else there's intransparency in the adoption and of which everything has been plain, fair and stable and the people are getting used to the system already in a big way such that almost all businesses and enterprises are open to the acceptance of bitcoin.

Most people in the country reject Bitcoin because they think it's a scam

that's not it, they were not mandated to compulsorily engage the use of bitcoin, it's an option that's acceptable by majority and they are using it, if you think using it isn't ok by then it's fine the law does not hunt you either for jot using it, remember that bitcoin is an opening to accessing freedom in the financial economy.

or simply because of its unstable market prices

even right before the adoption of bitcoin, market price has ever remain unstable.

Unless BTC reaches a new All-time-high in price, don't expect to see an increase in Bitcoin adoption anytime soon

Do you think bitcoin ATH is what make room for tendencies to bitcoin acceptability? obviously no because lot of countries could have adopted it right before now if you study the price volatility over years.