El Salvador official wallet app @chivowallet go offline - page 2.

heatstreak_2012

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Quote from: matjas on September 08, 2021, 05:11:15 AM

I wouldnt be surprised if this was a planned attack on their app. Judging by yesterday’s responses, there are a lot of influential individuals and cooperation’s which see El Salvador president as a threat to worlds economics.

Yes you are right and it can be one of the reason for this planned move

matjas

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I wouldnt be surprised if this was a planned attack on their app. Judging by yesterday’s responses, there are a lot of influential individuals and cooperation’s which see El Salvador president as a threat to worlds economics.

Shenzou

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Quote from: BIN-BIN on September 07, 2021, 02:56:18 PM

Today marked the history of Bitcoin becoming a legal tender, El Salvador a country in north-central America has become the first country to approve the operation and acceptance of Bitcoin as a legal currency.

The government wallet App chivowallet got overloaded in the early hours, which resulted in it going offline citizens are having miss feeling about the stability of the app and the El Salvador economy.

This no suprise, every big scale launch is bound to be bugged or overloaded, not to mention that this is a launch that every crypto user is following and probably millions of people from all around the world have planned to use this wallet, which probably was unexpected which lead to it being over sold.

pooya87

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Quote from: OcTradism on September 08, 2021, 04:38:28 AM

Why is five Chivo-to-Chivo transactions? Do they think after five transactions, the value of the target address will become bigger and the transaction history is clearer (after 5) so if they want, they can trace personalities better.

I can't speak for El Salvador government but it seems to me that they don't want people to just receive the $30 and go away to forget about bitcoin altogether. They are trying to build the bitcoin economy and encourage people and merchants to start using bitcoin and the $30 acts as the free money to "try things out" instead of just being $30 free money.
In that spirit the 5 transaction would mean the user has at least tried the wallet out and experienced what it means to use bitcoin.

Jawhead999

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Quote from: OcTradism on September 08, 2021, 01:13:28 AM

Nevertheless, I think if a wallet is created by government, it would be a custodial wallet.

Yes, it's custodial since they could reject your transaction and no private key will be given, just like ordinary exchange you access with email password pin code etc.

Quote from: https://chivostatic.turpialtech.com/terminos-y-condiciones.html

CHIVO SA DE CV, reserves the right to refuse to process any order of transfer, purchase, sale or withdrawal of Bitcoin and / or dollars at its sole discretion, if CHIVO SA DE CV suspects that the order involves ( or has a high risk of involving) activities related to money laundering, terrorist financing, fraud, or any type of financial crime, or activity that is not in accordance with the provisions of these T&C; or in case of being judicially or administratively required by any competent authority. In such circumstances, CHIVO S. A. DE C. V., will cancel or refuse to process the order, without any obligation to re-allow a subsequent order at the same price or on the same terms as the canceled or refused order.

To that extent, by registering with Chivo Wallet, the User accepts the responsibility of keeping a control of the security of any information, identity documents, passwords or any code used to access Chivo Wallet.

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Is Chivo wallet restricted to El Salvadorians or for everyone globally?

Not really sure, they only use Spanish language and no English language yet IMO they only focus to their citizens only now.

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Anyone has been able to check the Chivo wallet? Let's share it, please.

I can't lol I got a messages "not compatible with this version" it's weird because my Android version should be able to download it. Here the download link https://chivostatic.turpialtech.com/index.html#descarga

OcTradism

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Quote from: SFR10 on September 08, 2021, 04:17:45 AM

Quote from: OcTradism on September 08, 2021, 01:13:28 AM

Is it custodial or non-custodial wallet?

I believe it's a custodial wallet.

I believe so because it comes from government.

Quote from: nutildah on September 08, 2021, 01:25:27 AM

So you have to be a citizen to register for a wallet (makes sense).

It is only for El Salvadorian users. Anyway it is early development and if the legal tender in that country goes well, Chivo wallet will be developed and expanded from local to global.

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And here's where it gets tricky:

Quote from: https://www.theblockcrypto.com/post/116870/el-salvadors-chivo-bitcoin-wallet-struggles-to-reach-liftoff-on-launch-day

Matt Ahlborg, head of research at Bitrefill, tweeted his test of the Chivo functionality. He found the $30 in BTC could be sent off-chain after three to five Chivo-to-Chivo transactions and Lightning payments can be sent to and from the wallets.

Why is five Chivo-to-Chivo transactions? Do they think after five transactions, the value of the target address will become bigger and the transaction history is clearer (after 5) so if they want, they can trace personalities better.

nutilda pointed out that people have to register as a citizen in that nation. It is like bank but now use Bitcoin.

SFR10

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Quote from: pooya87 on September 07, 2021, 11:31:49 PM

They just have to work on getting better servers,

This... I wonder why most of the apps that are tied to the governments ^{[not just El Salvador]} have limited or rather unreasonably low server capacities?

Quote from: OcTradism on September 08, 2021, 01:13:28 AM

Is it custodial or non-custodial wallet?

I believe it's a custodial wallet.

Quote from: OcTradism on September 08, 2021, 01:13:28 AM

Anyone has been able to check the Chivo wallet? Let's share it, please.

I'm not an iOS user, but here's the link: Chivo Wallet
^{- At the moment, it's #5 in the Finance category, but earlier in the day it "was #1".}

Quote from: nutildah on September 08, 2021, 01:25:27 AM

So you have to be a citizen to register for a wallet (makes sense).

And here's where it gets tricky:

Quote from: https://www.theblockcrypto.com/post/116870/el-salvadors-chivo-bitcoin-wallet-struggles-to-reach-liftoff-on-launch-day
Some users reported issues sending the funds credited to their accounts. It appears that the initial $30 can only be sent to other Chivo users and merchants rather than to other wallets outside the Chivo ecosystem. Some have taken to Twitter to post possible workarounds to allow users to withdraw the $30. They claim the funds must pass through a few Chivo-to-Chivo transactions before they're unlocked for withdrawal.
~Snipped~
Matt Ahlborg, head of research at Bitrefill, tweeted his test of the Chivo functionality. He found the $30 in BTC could be sent off-chain after three to five Chivo-to-Chivo transactions and Lightning payments can be sent to and from the wallets.

acroman08

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Quote from: BIN-BIN on September 07, 2021, 02:56:18 PM

The government wallet App chivowallet got overloaded in the early hours, which resulted in it going offline citizens are having miss feeling about the stability of the app and the El Salvador economy.

pretty sure they'll make adjustment to that to cater to a much larger user base. but to be honest they should have expected it and made proper adjustment when the app finally went online. besides, it happens/happened to a lot of apps that gets a sudden surge of traffic in just a short time. give it time.

Kong Hey Pakboy

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That's just a bummer and it's an incompetence in the government side to not anticipate the increased volume of users in their wallet. Hopefully it's going to be operational in the near future because that's just a bummer for it to go bad this fast.

BIN-BIN

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Quote from: GreatArkansas on September 07, 2021, 06:44:43 PM

For sure, El Salvador, or the creator of chivo bitcoin wallet didn't expect a massive of users. Especially the even of the day that El Salvador is officially using Bitcoin as legal tender.
This is one of the major challenges if you are a software developer, but I believe it will be handle as time goes by, they don't expected a massive user I believe.

I think the news from El Salvador has affected the general bitcoin market, but with the wallet coming back online and the Wednesday market, the look will change pretty soon.

The wallet is going offline was expected but not to stay offline for long as citizens will like to carry out their transactions using Bitcoin.

yazher

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Quote from: Trojane on September 07, 2021, 06:31:50 PM

Since its the first time of being acepted by a country and it masses,i think proper preparations on the app legibity and security should have been made to avoid discouraging other who might want to follow along ...
Trojane 💎

I agree, for there are some people who will take this advantage to create their fake apps to steal money from those newbies who do not really know what they're doing for the first time. I think they need to consider issuing a warning regarding fake apps that might lure newbies to install them. These scammers are mostly pro when it comes to these kinds of strategies the Wallet apps owner need to clarify to their investors about everything they need to avoid to give them the best experience about bitcoins.

nutildah

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Just for fun I tried to sign up for the Chivo Wallet today but they are pretty serious about KYC -- they are not screwing around, especially since they are giving away $30 in BTC to all new users. So you have to be a citizen to register for a wallet (makes sense). There is one competing option, not sure if it is available yet, but both work hand-in-hand with the government and won't service non-Salvadorians.

OcTradism

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Quote from: GreatArkansas on September 07, 2021, 06:44:43 PM

For sure, El Salvador, or the creator of chivo bitcoin wallet didn't expect a massive of users. Especially the even of the day that El Salvador is officially using Bitcoin as legal tender.
This is one of the major challenges if you are a software developer, but I believe it will be handle as time goes by, they don't expected a massive user I believe.

What is the Chivo wallet? Is it custodial or non-custodial wallet?

If it is a non-custodial wallet, it is good for El Salvadorians to use it and have keys. Nevertheless, I think if a wallet is created by government, it would be a custodial wallet.

Is Chivo wallet restricted to El Salvadorians or for everyone globally?

Anyone has been able to check the Chivo wallet? Let's share it, please.

davis196

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Quote from: BIN-BIN on September 07, 2021, 02:56:18 PM

Today marked the history of Bitcoin becoming a legal tender, El Salvador a country in north-central America has become the first country to approve the operation and acceptance of Bitcoin as a legal currency.

The government wallet App chivowallet got overloaded in the early hours, which resulted in it going offline citizens are having miss feeling about the stability of the app and the El Salvador economy.

Online apps,websites and platforms created by a government usually face hacker attacks and servers being overloaded.I hope that everything will be fine with the Chivowallet app in the next few days.
Bitcoin adoption in El Salvador isn't going to be flawless and problems will occur,but the important news is that BTC adoption cannot be stopped in the long term.Let's pray for other countries making Bitcoin a legal tender.
Bitcoin should be the currency of the people,not a speculation tool for the rich crypto whales and institutional investors.

pooya87

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Quote from: eaLiTy on September 07, 2021, 06:11:21 PM

The critic i have for the El Salvador government is that they are implementing everything within a short period of time which will cause issues and the launch itself is facing issue with the network stability to handle the traffic. They should have taken proper precautions before launching everything rather than looking for the headlines Cheesy

.

The plans were in motion long before the news and the "headlines" so it is not exactly done in a short period of time. Besides they may not have been expecting such a huge interest in such a short time towards their wallet and bitcoin from the citizens.
Besides we can't really blame something brand new, it is bound to have flaws. They just have to work on getting better servers, improve their efficiency and better protect against DDoS attacks.

sheenshane

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IMO, this was expecting concept to make their own wallet and I think the way they monitor or regulate their people using Bitcoin and I don't know if this is acceptable to those who really want to be an anonymous one. Because for sure this wallet belongs to the custodial wallet that every transaction can be monitored by them.

Well, it's good for them to have this and I think it's a being a part of their progress about accepting Bitcoin and becomes legal tender to their place. The most important is, they are a part of us as a crypto enthusiast.

GreatArkansas

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For sure, El Salvador, or the creator of chivo bitcoin wallet didn't expect a massive of users. Especially the even of the day that El Salvador is officially using Bitcoin as legal tender.
This is one of the major challenges if you are a software developer, but I believe it will be handle as time goes by, they don't expected a massive user I believe.

blockman

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Let it be, it's still new and usually, newly launched apps still have to go with testing and bug finding. If there happens to be some time that it's been offline. It's expected and a very typical way to start with their very own governed wallet. What matters now is that it's carved in the history of the world and bitcoin that they're the first country that has adopted bitcoin as a legal tender and that won't change. Now, aside from this problem, the government has to face those people that are subjecting to this adoption.

Trojane

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Since its the first time of being acepted by a country and it masses,i think proper preparations on the app legibity and security should have been made to avoid discouraging other who might want to follow along ...
Trojane 💎

CaVO32

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Quote from: Baofeng on September 07, 2021, 06:03:21 PM

I think it's normal though, and it's obvious that the wallet provider faces some congestions, so it's going to be bumpy in the beginning. Even huge exchange such as Coinbase will suddenly went offline or in a maintenance mode when they are overwhelm by huge trading.

So the big question is how Chivo Wallet will react to this because for sure a lot of El Salvadorian are going to used their services. Consider this as one big test for them.

It also shows that despite some of those protesters from their country, still a lot are interested to get involved in bitcoin. And also, remember the free $30 for the signup bonus using this chivo wallet. I guess a lot are interested to get those free 30 bucks. Wink

And who knows, most of them will be really crypto users, so that's good for adoption as well as the crypto market.

https://news.bitcoin.com/free-bitcoin-el-salvador-giving-away-30-in-btc-to-everyone-using-government-wallet/

Topic: El Salvador official wallet app @chivowallet go offline - page 2. (Read 402 times)