Post
Topic
Board Bitcoin Discussion
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
MFahad
on 15/01/2024, 10:50:28 UTC
El Salvador President Nayib Bukele says "so, we got in way before BlackRock."


https://twitter.com/WatcherGuru/status/1745229174829203803?t=uJrbZf_q3F0UkrkXzM7weA&s=19
He Rosted Blackrock so well, hahaha. also I can tell he's very proud of that because of the obvious reasons. they adopted Bitcoin at the  govt level at a time when no other country or big company was ready for that. and now Big corporations and countries like blackrock are trying to get in Bitcoin after realizing they've been missing literally worlds one of the biggest technologies which also can be a money-making machine.
Because Blackrock and All those asset management companies obviously don't care about Bitcoin's core purpose. they are all only after money.

Salvadoran Bitcoin usage in 2023 is unusual

88% of Salvadorans did not use bitcoin in their transactions in 2023, even though it has been legal tender since 2021, a survey by the private Central American University (UCA) confirmed this.

When asked, "In 2023, have you ever used Bitcoin to buy or pay for something?", 85% said they had never used it, 3% had never used it, and 12% said they had used it.

https://ticotimes.net/2024/01/11/salvadoran-bitcoin-use-uncommon-in-2023
there could be two reasons for that. First not having proper awareness about Bitcoin, second Bitcoin's high transaction fee and time in confirming. for us it might not be a big problem. for for daily buy/sell stuffs in real life we need an instant method of payment. and bitcoin is not suitable for that. that is why I think people hesitate to use bitcoin in regular transactions.