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Bitcoin has been introduced or adopted in EL Salvador for a year but so far there has been no significant improvement in their economy, but even so I don't think that bitcoin adoption in El Salvador has failed because it feels too soon for us to judge the failure or success of the adoption , nowadays many say El Salvador failed just because the price of Bitcoin has decreased in price but if the price of Bitcoin went up high wouldn't we praise El Salvador actions in adopting bitcoin?
I think even though many El Salvadorans are against the adoption of bitcoin in their country, they should be more patient or at least give them time for the steps taken by President Nayib Bukele.



One of the images of protests against bitcoin in El Salvador

Bitcoin has not failed in El Salvador, there are some people using it.
What is highly needed is to educate the people, people in El Salvador confuse the Chivo Wallet with Bitcoin.

This that work in El Salvador in regards Bitcoin:
The ATM machines use standard Bitcoin QR codes and work with any Bitcoin Wallet, max daily limit $1000 USD in multiples of $20.

What does not work, the Chivo Wallet personal and the Point of Sale:
The point of Sale when I was in El Salvador in Nov 2021 it was completely broken, Bitcoin payments would vanish, it would only work reliably for the Chivo wallet at the time.
This made payments at major stores like Walmart not possible with a non Chivo Wallet.

The Chivo personal wallet, it works but has serious design flaws, for example Bitcoin in El Salvador is used mostly for small transactions as such you would expect the Bitcoin lightning to be the QR code by default, but no it is the hardest one to access furthest away in the menu, the default QR code is the one provided by Chivo which is only readable by Chivo Wallets, standard Bitcoin and Bitcoin Lightning wallets can not read the QR code from a Chivo Wallet as such you need to request another QR code which only very small bussiness are willing to do. From my experience the personal Chivo Wallet does work in Bitcoin and Lightning mode but it is not a QR code provided by default which causes a lot problems like not being able to pay in places like Walmart.

The point of sale had many catastrophic bugs which hopefully they have been fixed by now.

The good thing of the Chivo wallet is that its QR codes are easy to recognize just by looking at them, at the center if there is a $ sign it is a Chivo code, a yellow B a Bitcoin QR code, a yellow lightning then it is a lightning QR code. So as a tourist as soon as I saw the $ in the QR code I knew it would not work and requested a lightning or Bitcoin QR code which sometimes they were not willing to provide and the transaction could not take place. My experience was that few places would generate the proper QR code and that was because they were willing to learn, the lightning QR code was kind on hidden in the menu which is a terrible design.

My recommendation to the people of El Salvador, is to modify Chivo to provide a standard Bitcoin lightning QR code by default not hidden far away in the menu that way tourists can use Bitcoin to make Bitcoin purchases.

The people that created the ATMs did a fairly good job, I only found one issue with the ATMs but overall once you know how they work they are very reliable. The only issue I found with them is when selling Bitcoin you need to let the ATM know you are done paying it is not automatic, otherwise a timer kicks in and resets the ATM without a warning causing you to lose the funds (you get the funds back by opening a case but it is a lengthy process).

I don't believe that the adoption of bitcoin at  El Salvador has fully failed, however, the government needs to take some measures in order to increase the adaption among people.
Also, the whole world is looking toward El Salvador and if bitcoin is a success at El Salvador , then other countries may follow the same.

El Salvador faced hard criticism as it postponed the launch of bitcoin bonds. But, they've been working on it amidst the market trend. Finally this have come for the public usage. The president believes in the future progress and as a result this have been launched at the present market situation. They're quite confident in the progress as well as have things planned in the right way. For all who stated the adoption as failure, will now realise the reality.

Well a frontal idea will always attract a frontal reactions as well , so i think they are pretty much aware about this before they announce the project , you might find it wrong in approaching but you can still figure out the other approach options till it become a success one .

I still believe el salvador would be one of huge example on how bitcoin adoption should be made , even if they completely fail , the next one would be successfull ... just the matter of time though.

Talking about the recent progress in El-Savador, the government has announced the first phase for partial payment of its bond for 2023 and 2025 maturation date and has put together all efforts in acquiring about $565 millions of bonds that has prompted the generation of about $275 millions as profits into the treasury of the country in a bid to pay off some of its debts, with these and many more development has brought about increase in El-Savador's economy with bitcoin adoption, nothing is failing in El-Savador, but rather goodnews everywhere.

https://twitter.com/nayibbukele/status/1572676285461061632?t=nv6JjqZUBUpczP3do0xYTg&s=19

That’s because there is a conflict going on. Governments and banks are afraid of Bitcoin's success. And there is a lot of misinformation. However, in the long run, it is a losing battle. Everyone understands that Bitcoin is a clean asset. Even banks and governments will eventually purchase it someday. Just that people need more education and research more about it.

Exactly the point, the success or failure of El Salvador Bitcoin adoption should not be hedged on the price of Bitcoin and at what price El Salvador Bitcoin holdings were bought. Bitcoin adoption in El Salvador should not be given a short time view because of the nature of development that should be put in place for a smooth transition and general adoption, I don't know why analysts are giving it a short-term overview. El Salvador Bitcoin adoption is just one year old and bitcoin in its entire existence is still a decade old so let's wait and see how things unfold in the coming months and how the Bitcoin bond and Bitcoin city will help push the adoption of bitcoin in El Salvador if the investment in bitcoin education in El Salvador pay off with larger members of the citizens of El Salvador gaining adequate knowledge on Bitcoin and the entire blockchain technology more innovative growth will be recorded in El Salvador that will trigger economic growth. So I view all this data from various surveys as irrelevant and inaccurate at this point for long-term projects such as Bitcoin bonds in El Salvador.

The adoption of bitcoin in El Salvador at the state level can only bring good results if the right measures are taken to restore the national economy. After all, finance practically only serves the economy of each state. That is, a strong currency is of great importance, but is not a decisive factor for economic growth. In this regard, cryptocurrency cannot cancel the operation of general economic laws. The success of bitcoin circulation in El Salvador, therefore, will largely depend on how professional the government will be in carrying out its usual functions.

Why other countries should mind their own business rather than on making out comments and criticisms on what El Salvador had done on making Bitcoin as a legal tender?
Its their country to be affected if ever the market becomes worst and not on the country you are living, whether this market turns out to be positive then we know that in our minds
saying that they had done the right decision but on the time that the market do make out some shit movement or declining then this is where blaming and flaming out
words would really be coming out into our minds.

So when is the time, why compare and with whom, there is no official record, El Salvador is marking that official data that does not exist for any country, the mentality thing is relative and always happens with any change that is implemented, in any case El Salvador has a history with the dollar, the story was not very different in the rejection and use, curious to think that despite having more than 20 years of use as legal tender, the deficiency of bank accounts is still prevalent, in In any case, any study that is mentioned should have its respective reference, due to the data it that you mentions.

El Savador citizen not criticism for Bukele about bitcoin become legal currency transaction, but many of them not happy El Savador government invested when bitcoin still on higher price. Now become happiness moment for citizen criticism with Bukele act for investing in bitcoin because price drop drastically. Bukele can respond with criticism some citizen when bitcoin reaching higher price, but right now he need try patience waiting for when bitcoin back to higher price again. Maybe if El Savador just make bitcoin as legal currency transaction only without try investing he will get support from their citizen, but bad thing when try investing with bitcoin on higher price and right now bitcoin drop almost 50% when Bukele made first investment with bitcoin.

It seems to me that the challenge of the adoption of Bitcoin as a legal tender is receiving more publicity than the benefits of this policy. The bearish market and the global economic crisis caused by the effect of Covid-19 and the invasion of Ukraine have made El Salvador's economic challenges more complicated. But nobody is talking about how much El Salvadorans have saved from remittance fees due to Bitcoin adoption. Improvement in investment, education, and tourism is not getting the same publicity as the losses the country has incurred due to its investment in Bitcoin.

As you rightly pointed out, the government of El Salvador should do a proper analysis of the outcome of its policy of adopting Bitcoin as a legal tender. The yearly evaluation should be focused on the impact of this policy on the users which is the citizens of the country. This would help to identify the strength and weaknesses of this policy which would definitely lead to a review and adjustment of the implementation process. One year is a long time but it might not be enough to score the success of a particular policy especially when it is a long-time investment. But it is indeed a good time to check and recheck the outcome of a project

He should analyse the real condition of the people through a perfect survey. In that people need to be asked, how their financial growth have taken place out of bitcoin adoption. Here very little positive support will be got from the people, and through this it can be used as an opportunity to explain people a new system into usage won't give benefits at the shortest and it takes time. People will surely start using it, and the real value of bitcoin adoption can be seen.

I guess Bukele is looking forward in the future where there could be a chance that bitcoin will overturn their current struggles right now. The lower bitcoin go is the heavier their country will suffer, His country man are currently suffering from what Bukele introduced to them but his name could easily be flipped when we enter the bull market and bitcoin rise. Bukele just did a gamble with his country and we might know what might happen to them in the future.

Surprisingly they are really indeed having that solid decision in terms of bitcoin accumulation despite on whatever market condition that we are facing on.They dont really mind if its dumping or bears
as long they could accumulate as much as they could.Its not really that something bad on which the President is doing but he should really mind the situation of its citizens whether these decisions
were feasible and something that could really give out positive impact in overall.

El Salvador has remained consistent with its decision on Bitcoin as legal tender even though the IMF has urged to overturn the legislation, but the first year after Bitcoin legal tender is still drawing criticism for Bukele for the impact of Bitcoin price on bear markets, many news sources have downplayed its decision but when the next bullish phase then they will regret that their country still "ban cryptocurrencies". El Salvador is very lucky to have cryptocurrency because Bitcoin is higher than any other currency, when it reaches its bullish phase they will applaud Bukele's decision

it's not that easy to change someone's mindset, because changing someone's point of view requires a deeper approach, and there are many stages because something rushed usually doesn't last long, even according to a survey of Central American universities 9 out of 10 El Salvadorans don't know what bitcoin is and 8 out of 10 even doubt digital money, surely it will be very difficult to see from their very little knowledge of bitcoin, So in conclusion El Salvador is too hasty about adopting bitcoin, without considering the wishes of the people.

For some of the reasons that you stated 348Judah, it would be unjust for El Salvador to reverse it' having already had implemented their bitcoin as legal tender law.  It would not be impossible, but it would likely create injustices to rescind such legal tender law before at least giving it a chance to succeed.

Whenever something reaches the market people find it hard to get used to it. Later slowly things change when the real value of the same is being enjoyed/experienced by some means. The same is the reality of the adoption from El Salvador. As said just think of our bitcoin, very few were interested on bitcoin at its early days. Those people have made it reach the world and it is successful. Same as this with time we'll experience the success of El Salvador and for the reason the adoption isn't a failure.