El Salvador started BTC campaign in their country - page 2.

caffinated

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Quote from: cabron on June 25, 2021, 10:20:58 AM

Regardless of the catch which the government will ask KYC through that Chivo wallet sponsored by the government, people will take the BTC specially now that its free. There really is an intention, it could be for the re-election? 😁

It's $30. No one will give you that money while watching youtube the whole day.

They will probably KYC to give the 30 bucks otherwise the same guy can re queue for the money. The free money will help accelerate the adoption of cryptocurrencies and give the kick the users need to start using it.
I really do not see a problem with what el salvador is doing, in fact it is great news for the crypto community...
IMF basically asked them to cancel their pro btc stance after they made it legal and they come out with this news...
It costs el salvador real money to distribute btc, they will have to give up cold hard cash for this.

They will get alota benefits though... After the users are kyced they can use the system to distribute money in the future as well, saving them alot of banking fees.
There will be heavy risks that will follow, hopefully they are prepared...
Id say everyone needs to support el salvador's steps instead of looking at the glass half full, i am eagerly waiting for their mining operations to start so i can do something there!

Renampun

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Quote from: ropyu1978 on June 25, 2021, 03:13:07 AM

This is very extraordinary news, at a time when the price of bitcoin is falling, and the Chinese state is against bitcoin mining, El Salvador has come up with a new step, to introduce bitcoin to its people, this is the first step, and can be said to be a profitable project in the future. ..

now El Salvador has become a bigger country than china...

supporting Bitcoin means supporting the future, imagine how many million people will prosper from Bitcoin, Bitcoin has changed the future of millions of El Salvadorans.

electronicash

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Quote from: verita1 on June 25, 2021, 07:04:12 PM

I agree OP. Chivo Wallet will be available in September when El Salvador's Bitcoin law takes effect. The Bitcoin airdrop is like a form of Marketing campaign to promote the wallet and for Salvadoran citizens to become familiar with the app. It is incredible how President Nayib Bukele has found things to think about bitcoin for his country.

Take a look at this Tweet, he created this tweet on July 7, 2017 mentioning the Central Bank of El Salvador

Quote

Well yes, it is official, we will use Bitcoin 😎 cc. @bcr_sv

Pues si, es oficial, usaremos Bitcoin 😎 cc. @bcr_sv

https://twitter.com/nayibbukele/status/1408264485194850304?s=19

If you want to know any update of Chivo Wallet. Here you have its Twitter account

https://twitter.com/chivowallet?s=09

it's not yet happening because the wallet will only be available in September which I guess the airdrop is nothing but just an announcement?

according to a coindesk podcast, the airdrop isn't just for the Chivo government back wallet but for all wallets. strike wallet is very popular there so i guess this is easier for the government to promote the use of BTC if they don't ask all to download Chivo.

verita1

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I agree OP. Chivo Wallet will be available in September when El Salvador's Bitcoin law takes effect. The Bitcoin airdrop is like a form of Marketing campaign to promote the wallet and for Salvadoran citizens to become familiar with the app. It is incredible how President Nayib Bukele has found things to think about bitcoin for his country.

Take a look at this Tweet, he created this tweet on July 7, 2017 mentioning the Central Bank of El Salvador

Quote

Well yes, it is official, we will use Bitcoin 😎 cc. @bcr_sv

Pues si, es oficial, usaremos Bitcoin 😎 cc. @bcr_sv

https://twitter.com/nayibbukele/status/1408264485194850304?s=19

If you want to know any update of Chivo Wallet. Here you have its Twitter account

https://twitter.com/chivowallet?s=09

posi

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El Savador President just write the county name in book of history, to be the first country to host Bitcoin airdrop and thats if they indeed do the $30 worth of Bitcoin giveaway when it September. I hope this wont hurt the country pocket though.
However, this will only create surge in price of the market for sometime cause we seem to be heading to the market correction stage.

blockman

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This is what I'm exactly reading right now from the article that can be found on coinmarketcap. (https://coinmarketcap.com/alexandria/article/30-reward-for-every-el-salvador-adult-who-downloads-government-crypto-wallet)
It is for everyone that will download their country's wallet and there's an airdrop for everyone! and the airdrop is in BTC. $30 is already a good amount as free money and what if those folks understand the power of holding. This is really a great initiative by the El Salvador's government and what if Bulgaria does the same as they're one of the countries known as one of the biggest holders.

uneng

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Best faucet so far, unfortunatelly only disponible for salvadorans citizens. Grin

Let's see how people in general will react towards this incentive by the government. I think they are just going to cashout the btc into fiat and add the sum to their traditional bank accounts, what is pointless after all. A good campaign would be to incentive entrepreneurs to pay employees in btc and their businesses accept payments in btc also, especially those who are focused on internet niche, like shopping sites, for an example.

I really fear bitcoin adoption isn't going to happen just because the government is going to distribute 30$ to people who have never heard of this before.

Samthehero

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Cool! So, the fees killed my btc, and all I got was this cup of coffee meme, has it started trending yet? Has it taken off on tiktok yet?

Woodie

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For a head of state to advocate for crypto says alot...it could me the population is of a young generation so technology is not an issue which includes bitcoin, this could also be the opening of its doors for any crypto business to everyone of us, perhaps miners too Roll Eyes

This still remains one of the biggest positive crypto news we have received in a while and looking forward for more 😀.

cabron

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Regardless of the catch which the government will ask KYC through that Chivo wallet sponsored by the government, people will take the BTC specially now that its free. There really is an intention, it could be for the re-election? 😁

It's $30. No one will give you that money while watching youtube the whole day.

tranthidung

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If people want to throw away their identity documents, privacy and anonymity, go ahead with government-managed giveaway. I see many people don't see problems with that.

It is common to force people to do KYC in order to claim airdrops, from Coinbase ie. so locals in El Salvador will most likely not see personal problems with KYC.

If they care about anonymity, they should spend their $30 giveaway for one or two expense and let that bitcoin wallet go. If they want to do other bitcoin transactions, do it with other purely new wallets.

Also $30 in Bitcoin can bring problems when transaction fees are too expensive and if people can not use LN. If they want to use that $30 Bitcoin giveaway, they need to have plan when fee is cheap.

Is it a good time to read the topic from @1miau?

Why KYC is extremely dangerous – and useless

Rikafip

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Quote from: DdmrDdmr on June 25, 2021, 08:16:41 AM

The catch is that the 30$ worth of bitcoin is given for those that download Chivo, an app provided by the Government to manage crypto (from September 2021 onwards). Fine it’s a way to kick-start things into motion, but I’d rather it be a wallet of free choice.

What if they actually plan to send the derivatives instead of actual bitcoin, and that's why they are making this Chivo app mandatory in order for people to get BTC? I mean, if they really have no ill intentions, they would just let people get their BTC in any wallet of their choice.

Quote from: DdmrDdmr on June 25, 2021, 08:16:41 AM

Skimming through the below link with information on Chivo, it states that:
- Users need to register with their Id and phone number.
- They’ll also need to perform a facial recognition or to complete a phone questionnaire from a given call center.

Seems like starting with a big brother wallet ...

That's true, another part that sucks, but I see no other way to perform this type of airdrop, otherwise they open themselves for abuse.

I would like to look at the positive aspects of all this, but it reminds me of that saying that if you are getting something for free, you are the product.

Leviathan.007

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El Salvador is trying to be the destination of bitcoiners. Due to many reasons some governments are trying to suspend any cryptocurrency activity such as trading, mining and even investing and the people who mine bitcoin are moving out of their countries and China is one of them. By moving people out of their countries a huge amount of money will also move out and the other countries such as El Salvador will try to attack people to migrate there and safely do their job without of any problem, by doing so a huge amount of money will also enter this country. However, we will see what we can do with 30bucks on El Salvador, maybe just a glass on wine.

oHnK

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This is a simple way to promote BTC as their legal tender, but there's something that disturb me a little bit. Is the El Savador government has ruled about the transaction with small scale, because as long as I know the transaction fee is quite expensive for low middle class community. Whether in the country, transaction fee is cheaper that another country?

KaliLinux

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Quote from: CokeCoin on June 25, 2021, 04:34:08 AM

That's great initiative but first of all I think it's not safe enough to keep those $30 bitcoins on the wallet made by a government and better to transfer it. And secondly adopting bitcoin legally is not enough, there must be financial institutions and services that will allow to use this asset as any other currencies. Moreover, I've heard there are some disagreements between Salvador and IMF and World Bank

Of cause there is always going to be disagreements between IMF, the world Bank and any Nation when it comes to issues like this relating to Finance because they know this is how Nations break away from the shackles of continuous enslavement they put most of this poor nations through. They would like to have them keep borrowing and owning the IMF/World Bank but El Salvador is breaking that jinx.
I believe the President is determined and I know he will definitely sort the advise of experts on this and I hope this works and servers as learning steps for other nations.

semobo

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Government is going to give away $30 for people who uses the wallet they mentioned which means they have chance to track the wallet further once they know the end user. Anyway this is good thing that it is going to be accepted as legal tender but the real reason behind this adoption can be found in the future.

NeuroticFish

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Quote from: Tytanowy Janusz on June 25, 2021, 04:08:15 AM

The best part is that El Salvador does not have its own currency.

Actually this was the bit that made everything easier. If they would have had their own currency, the president would have faced the inertia (to be nice) and the "advises" of the central bankers.

Quote from: DdmrDdmr on June 25, 2021, 08:16:41 AM

-   Users need to register with their Id and phone number.
-   They’ll also need to perform a facial recognition or to complete a phone questionnaire from a given call center.

Seems like starting with a big brother wallet ...

Well, this is govt does best: get user data.
On the other hand, I guess that's necessary, else they can easily end up giving out the money to the "wrong people".

Lucius

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Quote from: CokeCoin on June 25, 2021, 04:34:08 AM

That's great initiative but first of all I think it's not safe enough to keep those $30 bitcoins on the wallet made by a government and better to transfer it.

Do you think the government would give $30 to someone and then for some strange reason take that same money back? It seems to me that the president has no ill intentions other than to want to promote Bitcoin among the general population - and is there a better way than to give them gifts that they can spend however they want?

If there is distrust in the government that organizes all this, then the project would be doomed even before it started - and we come to the point that the government has taken the first step, and now it is up to ordinary people to decide whether to accept Bitcoin or not.

Quote from: DdmrDdmr on June 25, 2021, 08:16:41 AM

The catch is that the 30$ worth of bitcoin is given for those that download Chivo, an app provided by the Government to manage crypto (from September 2021 onwards). Fine it’s a way to kick-start things into motion, but I’d rather it be a wallet of free choice.

Free choice is always desirable, but the government wants to have as few problems as possible when it comes to technical support - because it's easier when you have one crypto wallet than a dozen different ones, each of which can have some specific problems.

DdmrDdmr

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The catch is that the 30$ worth of bitcoin is given for those that download Chivo, an app provided by the Government to manage crypto (from September 2021 onwards). Fine it’s a way to kick-start things into motion, but I’d rather it be a wallet of free choice.

Skimming through the below link with information on Chivo, it states that:
-   Users need to register with their Id and phone number.
-   They’ll also need to perform a facial recognition or to complete a phone questionnaire from a given call center.

Seems like starting with a big brother wallet ...

See (in Spanish):
https://elsalvadorgram.com/2021/06/asi-es-chivo-la-wallet-oficial-del-gobierno-para-transacciones-en-bitcoin/
https://twitter.com/chivowallet (no content here yet really).

CokeCoin

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That's great initiative but first of all I think it's not safe enough to keep those $30 bitcoins on the wallet made by a government and better to transfer it. And secondly adopting bitcoin legally is not enough, there must be financial institutions and services that will allow to use this asset as any other currencies. Moreover, I've heard there are some disagreements between Salvador and IMF and World Bank

Topic: El Salvador started BTC campaign in their country - page 2. (Read 475 times)