Topic: El Salvador Bitcoin wallet onboard four million users (Read 295 times)
4 million registered users and at the same time the Volcanic Bonds on the way, I do think the government is doing well with the bitcoins till now. Even the president of Turkey was all set on the meeting and hopefully he would also follow their footsteps. Government did invest a lot in this, making 4 million people register is no small deal and they have achieved this in quite a short time. I do think that with the KYC on road they would be ofc able to differentiate if a person owns more than one wallet, I do not think that 4 million is a small number at all! The adoption takes time, it might take years for majority of the population to consider it a worthwhile investment but right now I think it's a huge milestone for them.
What this means is there has been low adoption of bitcoin in that country most especially when Bitcoin is a legal tender compared to the number of wallet users across countries who have not adopted bitcoin. The El Salvador citizens have always had a drawback when it comes to Bitcoin adoption remember when there was a protest to stop the adoption of Bitcoin in that country.
4 million wallets means 4 million bitcoin adopters
It is possible there that one person can own 2 or more Chivo wallets but if the stats say that it's one wallet per person then that's really a lot of users in a short period of time.
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Tell me about it. On the Spanish local board there is not a single known soul from El Salvador. Regardless, there is likely a major SEO issue here on Bitcointalk, and leaving aside people’s tendency to use fast paces social networks as a source for information, they simply do not land here.On my prior post on this thread, I stated that those 4M were close to all adulthood people in El Salvador. @Bukele toys somewhat with the idea (see https://twitter.com/nayibbukele/status/1483864949512409091), but perhaps we’ve overlooked the population that emigrated at some point. In 2019, the figure was that of 1,6M people. Those that are 18 or above are also candidates to use the Chivo System and obtain the 30$ bonus, so there is still an aggregate gap to cover (we need to consider those above 18 years old, out of the 6,5M population+1,6M emigrants).
Even so with bitcointalk, surely if there are 4 million, there have to be odds of 1 of them finding a link to here. And as you said, many have emigrated and gone to USA. Remember also that this big conference in Miami was the one that announced it, and surely everybody there is either on Twitter or Reddit or Bitcointalk, and sharing something. But we're not seeing it or I'm not seeing it. It just doesn't make sense to me
As the need for Bitcoin mainstream adoption keeps rising across the world El Salvador one of the first countries around the world to have adopted Bitcoin as a Legal tender developed a native Bitcoin wallet which their initially offered $30 bitcoin raindrop to they citizens through their native wallet sometime late last year, have announced the number of users in the database which have amounted to a swooping 4 million registered users which to me is a great milestone to the overall bitcoin adoption.
Source: https://cointelegraph.com/news/el-salvador-s-bitcoin-wallet-onboards-4m-users-with-netki-partnership
Source: https://cointelegraph.com/news/el-salvador-s-bitcoin-wallet-onboards-4m-users-with-netki-partnership
Amazing news. If this experiment becomes a successful one in El Salvador, soon we can expect every other country adopting bitcoin as well. When that happens it won't be millions but there will be billions of people using bitcoin as their default currency. I guess Visa and Mastercard will have to go bankrupt because bitcoin will also act as a payment gate when that happens.
The current population of El Salvador is estimated to be more than 6 million people, if the bitcoin wallet in El Salvador has been held by more than 4 million people, it can be said that it is a very extraordinary achievement, because the government of El Salvador has recently legalized bitcoin, but has been able to get a very extraordinary achievement, with the achievements obtained by el salvador, can trigger other countries to legalize bitcoin.and accept bitcoin as a legal currency..
4 million wallets means 4 million bitcoin adopters
It is possible there that one person can own 2 or more Chivo wallets but if the stats say that it's one wallet per person then that's really a lot of users in a short period of time.
4 million wallets means 4 million bitcoin adopters
It is possible there that one person can own 2 or more Chivo wallets but if the stats say that it's one wallet per person then that's really a lot of users in a short period of time.
<…>
Tell me about it. On the Spanish local board there is not a single known soul from El Salvador. Regardless, there is likely a major SEO issue here on Bitcointalk, and leaving aside people’s tendency to use fast paces social networks as a source for information, they simply do not land here.On my prior post on this thread, I stated that those 4M were close to all adulthood people in El Salvador. @Bukele toys somewhat with the idea (see https://twitter.com/nayibbukele/status/1483864949512409091), but perhaps we’ve overlooked the population that emigrated at some point. In 2019, the figure was that of 1,6M people. Those that are 18 or above are also candidates to use the Chivo System and obtain the 30$ bonus, so there is still an aggregate gap to cover (we need to consider those above 18 years old, out of the 6,5M population+1,6M emigrants).
This number is small compared to other parts of the world where bitcoin is not legalized yet, El Salvador has 4 million wallets what is the activeness rate of those wallets, and what indices does it show that citizens of El Salvador have fully adopted bitcoin and are actively using they wallets.
Hmm, the wallet is local only to El Salvador, so by definition, it's not really adoption as the wallets in for El Salvadorian only, (correct me if I'm wrong).
But in any case, there could be next countries after El Salvador that will follow and then another country. So bitcoin might be in the continue growth as far as users, although it doesn't mean that the price though is going to spike. So it's obvious that there is no correlation.
I don't know the truth, but statistically the data I think is a real wallet address. I don't think it's cloning with one user at the same time. It's very difficult to track because it's anonymous. Although in the end it is possible if the wallet is owned by one person it will only end up in one wallet. Although I know there may be some people who take advantage of the weaknesses of the system. They take advantage by having multiple wallets with different identities. This seems similar that many spamers use on these forums to get rewards. But at least with the legalization of digital currency in data I think 33% of the population there definitely uses that wallet. But in any case, there could be next countries after El Salvador that will follow and then another country. So bitcoin might be in the continue growth as far as users, although it doesn't mean that the price though is going to spike. So it's obvious that there is no correlation.
So okay guys, do you think it makes sense you have 4 million users and not a single one of them has come to forum or Twitter to tag or talk to the people all looking and reading at them?
Again I hate to be bearer of bad news. I love Bitcoin too but this type of news seems fake or at least inflated to big numbers.
Again I hate to be bearer of bad news. I love Bitcoin too but this type of news seems fake or at least inflated to big numbers.
Hmm, the wallet is local only to El Salvador, so by definition, it's not really adoption as the wallets in for El Salvadorian only, (correct me if I'm wrong).
But in any case, there could be next countries after El Salvador that will follow and then another country. So bitcoin might be in the continue growth as far as users, although it doesn't mean that the price though is going to spike. So it's obvious that there is no correlation.
But in any case, there could be next countries after El Salvador that will follow and then another country. So bitcoin might be in the continue growth as far as users, although it doesn't mean that the price though is going to spike. So it's obvious that there is no correlation.
As the need for Bitcoin mainstream adoption keeps rising across the world El Salvador one of the first countries around the world to have adopted Bitcoin as a Legal tender developed a native Bitcoin wallet which their initially offered $30 bitcoin raindrop to they citizens through their native wallet sometime late last year, have announced the number of users in the database which have amounted to a swooping 4 million registered users which to me is a great milestone to the overall bitcoin adoption.
Source: https://cointelegraph.com/news/el-salvador-s-bitcoin-wallet-onboards-4m-users-with-netki-partnership
Source: https://cointelegraph.com/news/el-salvador-s-bitcoin-wallet-onboards-4m-users-with-netki-partnership
It seems to me that it might take a long time for the older generations to get onboard with the whole bitcoin is money idea. We might see a gradual linear adoption instead of a rapid adoption. Within the next 5 years I think El Salvador will get most of their people onboard as Bitcoin fans, assuming we don't see whales abusing the situation with superficial dumps and scaring the newbie bitcoiners into selling for a loss, which would put Bitcoin in a bad light, instead.
70% of the population is an impressive number on its own, but what's especially interesting is that these were allegedly people belonging to the unbanked population. If this is true, it means that for millions of people Bitcoin is their first introduction into digital payments, and that it really shows how Bitcoin can be an alternative to banking (with custodial wallets in this case, of course, but still). What's still of interest is how much these people use Bitcoin now, compared to using cash (the USD). If they have wallets but don't use them, it's not a big change, even though it's still something. If they are moving to digitalization via Bitcoin, it's a big deal. And with the majority using it not more often than once a month, I suppose it's more like they formally have access to Bitcoin than true adoption happening. But perhaps we should give it time.
A brilliant idea to increase the adoption immediately. 
Big thumbs up for El Salvador. As the matter of fact who will gonna ignore such offer.? Its free tho, wherein all you need to do it's either use it to buy stuff or holding. For me for sure if it will happen here in my country even those who don't know about bitcoin will gonna rush to get free bitcoin. Lol so it's not surprising that El Salvador really convinced the whole community to join the event..
Big thumbs up for El Salvador. As the matter of fact who will gonna ignore such offer.? Its free tho, wherein all you need to do it's either use it to buy stuff or holding. For me for sure if it will happen here in my country even those who don't know about bitcoin will gonna rush to get free bitcoin. Lol so it's not surprising that El Salvador really convinced the whole community to join the event.. 
As the need for Bitcoin mainstream adoption keeps rising across the world El Salvador one of the first countries around the world to have adopted Bitcoin as a Legal tender developed a native Bitcoin wallet which their initially offered $30 bitcoin raindrop to they citizens through their native wallet sometime late last year, have announced the number of users in the database which have amounted to a swooping 4 million registered users which to me is a great milestone to the overall bitcoin adoption.
Source: https://cointelegraph.com/news/el-salvador-s-bitcoin-wallet-onboards-4m-users-with-netki-partnership
But what is that 4 million wallet/users when after receiving that 30$ they will abandoned that wallet and care no more?Source: https://cointelegraph.com/news/el-salvador-s-bitcoin-wallet-onboards-4m-users-with-netki-partnership
this is something like an airdrop that after taking their gain then they will forget about that and move to another.
I will make believe in this value if those wallet are created on their own beliefs and decision and not just because there is a promise amount.
4 million wallets means 4 million bitcoin adopters, as KYC is required in order to use Chivo and claim the 30$ airdrop and all these adopters are only from El Salvador, so even a small country can contribute a lot to bitcoin adoption. These are positive points in my opinion.
That's still a lot considering these users will encourage as well their close family or friends to get along with it for sure it's just a matter of time before it gets doubled or more than that. All eyes are set on them since it really on their hands if other nations may opt to adopt to legalize Bitcoin on their countries.
Going over their population’s pyramid distribution by age for 2020 (1), out of the 6,3 M inhabitants, around 2M would be under 18 (therefore excluded from being able to use the Chivo wallet according to the terms of service). The 4M mark therefore accounts for nearly all the population, no doubt enticed by the 30$ bonus, but a hallmark nevertheless.
A recent stat did point out some initial data in terms of usage, indicating that 74,3% had not used BTC to pay for anything yet (Table 52 - September through to December 2021), and out those that did, 65,7% use it infrequently (one time shot or once a month – Table 53). These numbers are though related to a system that is being set in motion, and ideally we’d get to see how they evolve over the coming months.
(1) Note: Aggregate Population for 2021 is very similar to that of 2020.
A recent stat did point out some initial data in terms of usage, indicating that 74,3% had not used BTC to pay for anything yet (Table 52 - September through to December 2021), and out those that did, 65,7% use it infrequently (one time shot or once a month – Table 53). These numbers are though related to a system that is being set in motion, and ideally we’d get to see how they evolve over the coming months.
(1) Note: Aggregate Population for 2021 is very similar to that of 2020.
That's still a lot considering these users will encourage as well their close family or friends to get along with it for sure it's just a matter of time before it gets doubled or more than that. <…>
Considering that the population is around 6,4 M, they’d have to procreate a hell of a lot to reach the 8M mark, and then turn them all into 18 year olds …
That's actually a lot but I wonder how exactly they know the numbers? based on their local exchanges? what if the other citizens don't use their local exchanges? I think the numbers are not exact but maybe there are more users we just don't know how many are they but this kind of result is nice and promising since the beginning was unsure and we see the good result now. 2022 is another Bitcoin year for sure, not only in El Salvador but in some countries in South America as well because as of now they are sure about the good result of what they were doubting in their neigboring country.
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