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any new technology really needs time before everyone got a grasp on it. imagine, btc playing the same role with their fiat? fiat has been there for decades and decades so yes, they should be more considerate when it comes to adoption of btc because el salvador has just implemented this as legal tender for just a year. so they should not expect that the adoption is already the same with their fiat.

It does really takes time for it to grow.The wrong thing on here is that people do really make out direct conclusions that it had failed considering that we are just seeing on 1 year basis after its legal  tender

adoption but people had been keeping on giving out those negative sentiments speaking about it had failed or didnt really get that much attention which is somewhat true
but just as been said that we should give them some time because citizens would eventually find out on what would be its advantages and total relevance
because the President wont really be making such action if he doesnt see any benefits from it.

I think it is high time people begin to see things for what it is, El Salvador Bitcoin adoption is a long term journey and it requires time to grow, the grassroots awareness level may be low at the moment which have resulted into the low Bitcoin adoption among the citizens most especially those in remote areas. But with the efforts being put in in the information and education direction, I few years from now the result is going to change and more El Salvadorans will become more informed and educated enough to tap into the innovative advantages of Bitcoin and they will try to build their life around Bitcoin as an alternative El Salvador have hard currency changes in the past and in 2001 when the adopted the United States dollars its rate of adoption was also low but just that the method of adoption of the United States dollars is different from Bitcoin because in the case of Bitcoin is adopted as an alternative to acting along the US dollar.

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.


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.


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


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.

Yes agree bitcoin adoption in El Salvador is still growing even after legalizing bitcoin in the country, currently the government of Nayib Bukele has launched several bitcoin related projects such as planning to upgrade Bitcoin Beach infrastructure and they will invest $200 million to upgrade beach facilities to become more luxurious so that tourists will feel comfortable when visiting.
More info: https://finbold.com/el-salvadors-bitcoin-beach-to-receive-over-200-million-in-infrastructure-investments/

Of course, you can just make shit up and hope people reading this thread will believe your pie in the sky bitcoin naysaying nonsense, and assert that bitcoin adoption is not sufficiently or adequately increasing in El Salvador when the facts are contrary to your assertions...

For example, look at a cross post from the other El Salvador thread in terms of expansion of education materials as outlined by DdmrDdmr

In other words, adoption of bitcoin in El Salvador is progressing right along and taking place in many areas.. even if you proclaim based on your non-assessment of facts and logic and your wishes that you are unable to see such adoption progress happening.

Yet, that hasn't stopped El Salvador from reverting its decision of accepting BTC as legal tender. It may've been too soon in doing the move, but it hasn't lost anything yet. Most people in the country reject Bitcoin because they think it's a scam or simply because of its unstable market prices. That, and also the fact that merchant adoption for the cryptocurrency is extremely limited. El Salvador should've provided some sort of incentive to merchants and businesses accepting BTC as payment method to help spur its adoption. Unless BTC reaches a new All-time-high in price, don't expect to see an increase in Bitcoin adoption anytime soon. Just my opinion

Exactly my point, I think analysts are quick in their conclusion of El Salvador Bitcoin as a failure and any one supporting that assumption look as if they don't have adequate knowledge of the government stance and plans on Bitcoin in El Salvador, e.g the Bitcoin bond is not a short term project so even though there are short term challenges facing that project and stopping it from kicking off we should rest assured that in the nearest future that Bitcoin bond is going to be sign approved and developed on. As you rightly also said there is nothing bad in analyzing data on ongoing projects but then we should not forget that some situations are unpredictable most especially Bitcoin conditions so we have to focus more on the long-term goals of the project other than being clouded by present conditions. We will have more data and facts to analyze in the next couple of years ahead but now I believe it is too early to draw any conclusions on this matter.

I am in that very healthy line that everything is a matter of time to bitcoin begin to offer positive statistics.

By the way a year is a short period to evaluate bitcoin in the different parameters that were promised, but not for a presidential administration, which is actually the heart of the matter, Bukele's haste to promise and create uncertain expectations does not It is a situation that should fall to bitcoin.

On the other hand, it is common to read things like those mentioned by the fzkto user, it is a worn speech that has no measurable references (there are none) to be able to assert that a certain "first world country" and consequently to the fact of being one of the called first world by cultural condition it seems that they are always better informed than third world users in reference to bitcoin, it surely works with the Salvadoran, but it is not something 100% true.

In any case, as with the previous point, in this first celebration of bitcoin as legal tender, the theme "Failure" went viral, perhaps if remittances had been 10%, for example, they would surely be equally bad for many, so I think data "calibration" for this first year, as I said, is for Bukele.

Bitcoin adoption failed in El Salvador for the following reasons.

• People just use the bounty and never use the Chivo Wallet later.
• Very little number of people have begun to accept bitcoin into their businesses.
• Postponed Bitcoin bonds.
• Loss with the holding value out of bear market.
• Opposition from certain group of people.
• Nothing certain about its future progress.
• No improvement in economic uplifting out of bitcoin into personal usage.
• The adoption is done against the suggestion from the IMF.

One who is against bitcoin will keep on adding more reasons to state bitcoin adoption in El Salvador is a failure. We need to understand El Salvador isn't a country that is Wealthy to stand strong against the world powers, but it have took a bold decision and working on it. This itself a true success. El Salvador is in its experiment and to get the result it needs time. It has passed one year since adoption, but what El Salvador have encountered is criticism. Same time if the market could've turned bullish, the same people who are criticising might've stood along saying this is great from El Salvador.

I doubt that El Salvador is simply "guessing" in their approach to implementing their bitcoin law.

This whole thread has been riddled with baloney impositions of what is success or failure, and it is surely going to take a while to get people used to the idea of bitcoin and the various ways that it can be used, including for people to see the extent to which they perceive that they might be advantaged by having bitcoin as one of their options - which surely, I would say that looking at the matter 5-10 years down the road would be more likely to give more concrete assessments.. but sure, there's no real problem with looking at data on an ongoing basis and trying to figure out various ways that implementation might be improved in one area or another.  Assessments of failure continue to come off as nearly pure nonsense, even if you quote an article or quote some surveys of people who are still getting used to bitcoin and may well still NOT be sure what bitcoin is or how to use it in their own lives exactly.

If bitcoin works, it does so in any economy and citizens can be so ignorant in relation to the subject regardless of whether they are from the third or first world, there are undoubtedly differences, but they have decreased with the level of ability to access information.

So, simply El Salvador it has not had the estimated results, so it is a guess to say in a certain country if it will work.

Seeing how bitcoin badly decreased so bad and they bought it and more expensive price for sure that many people will think that this is really a failed experiment to them. But its not the ending yet until they drop their holdings there are good cycles to happen and for sure they can benefit with it if they are more careful and not be greedy when market is going to pump back slowly.

Am not surprised by the respond of the poll and the personal expereinces of El Salvadorans who may want to use bitcoin for payment in regular market, I can attribute this to several fractures that have influenced El Salvador citizens.
1: the high rate of inflation in the country, has made technological innovation knowledge to be below average and the economic situation in that country has made access to technologies difficult and this reason has affected their ability to try out new development.
2 lack of adequate preparation of the General public before Bitcoin adoption e.t.c.
The conclusion is, that El Salvador Bitcoin adoption is still at its early stage, and at that time and efforts are needed to place the right things in place that will allow citizens Bitcoin integration possible, El Salvador Bitcoin adoption just crossed its first anniversary some days ago and to me personally am hopeful that things will change in a positive direction as time passes by.

In my opinion, we may not see the effect right away of btc being the legal tender in El Salvador.
It may be few years from now, because this development within their country is like work-in-progress.
We should not expect something superb will come out just few months of its implementation.
But if their tourism sector is gaining from this initiative, then, at least, they are already seeing positive from this decision.
It would take time for people to appreciate its existence, and they need to experience it first-hand to understand its advantages.

Of course, when bitcoin is present the citizens (and anyone visiting El Salvador) can choose to use either the dollar or bitcoin, and they do not need to choose one or the other (of course, unless the option is not available, and some areas have more adoption of bitcoin usage than others - and maybe there are not too many locations that are already set up and used to transacting in bitcoin and/or lightning network?).  

Personally, I think that it will be a good thing for citizens to be able to hold value in both bitcoin and fiat.. especially if they start to get accustomed to hold bitcoin and to figure out how much to hold and maybe how much bitcoin to keep in their bitcoin wallet versus a lightning wallet.  

Holding value in fiat value would be for shorter-term cash expenditures and maybe for a large number of El Salvadoreans, there is not much savings after holding value in dollars and even an emergency fund in dollars. Nonetheless with bitcoin there are options that would possibly involve attempts to allocate some amounts of savings and investment into bitcoin over longer periods of time and then just to be attempting to spend strategically from the bitcoin holdings.  

There is no exact one formula that anyone might use for deciding how much to hold in bitcoin as compared with holding some of their value in dollars because there are needs to account for a variety of individual circumstances such as cashflow, other investments, view of bitcoin as compared with other investments, timeline and risk tolerance.


If you (including elderly peeps) don't want $30 then you don't need to download any such wallet.  

For citizens, including elderly, Bitcoin is optional in El Salvador.

If you happen to be a decently-sized business in El Salvador with abilities to access the internet and payment systems, then there seems to be an expectation that you set up to be able to receive bitcoin, but you do not have to hold bitcoin..

holding bitcoin is optional but surely with the passage of time, it is quite likely that more and more people will begin to exercise their bitcoin option whether they are elderly or otherwise, yet if someone is more elderly, they might be more opposed to keeping any value in bitcoin because their investment timeline is too short to be able to tolerate the likely ongoing volatility in bitcoin, so they would likely keep their value in dollars rather than in bitcoin.. at least keeping value in dollars would be more reasonable and prudent for someone who feels that they need to keep their value more liquid.. and might not be able to save/invest because of those kinds of reasons.

Having everyone to download some wallet and getting things setup + lengthier time for a transaction to confirm definitely does not sit well with the elder generation.

The poverty rate may decrease little by little, but still El Salvador is a poor country. The whole truth is that the population does not need bitcoin, they are not ready for this. Recently, a journalist flew to El Salvador to see how they are doing, where you can pay with bitcoin, but everything turned out to be very sad, the sellers say that almost no one asked them to make a payment with bitcoin, even tourists.

Yes, Bitcoin has really given El Salvador an alternative investment and payment platform. It has been reported that its adoption of Bitcoin as a legal tender has attracted tourists to this nation, thereby increasing the income gotten from the tourism sector.

But the tweet you quoted was specifically for the nation's success in making El Salvador safe and not about Bitcoin. El Salvador was ravaged by gang-related crime and the government has done a very good job in limiting their activities to a large extent. President Bukele understood that for his nation to become a Bitcoin hub, it must be safe for investors and Bitcoin tourists.

I am sure in a few years we would begin to see the positive contribution of Bitcoin to the multi-dimensional development of El Salvador.

El Salvador has gone past that stage now. Currently, people are aware of the benefits of Bitcoin and more awareness is still going on. Now it is up to the citizens of this nation to choose between fiat and Bitcoin. Those that are interested would definitely grab the opportunities and options that Bitcoin offers.

El-Savador never had a better yesterday, ever since bitcoin adoption till now.


https://twitter.com/stacyherbert/status/1566463771656192004?t=CsWtFmW8b25Hja0KQFyDxA&s=19