This is not something that are being implemented by first world countries for colonialist goals.... but rather locals themselves that saw an opportunity to open a new income source through Bitcoin tourism.
Not by Tier 1 countries? Who's working with El Salvador's president to implement the deployment of bitcoin? He has surrounded himself with American advisors, most of whom are blockchain entrepreneurs.
Bitcoin tourism, nice joke. Go to visit the country and when you've seen the crime rate you can tell me about tourism. There are so many gangsters that the country has built one of the biggest prisons in the world with 40,000 beds.
Who is invading the island mentioned in this topic? Not the local citizens...
The colonialism card are used for any introduction of "new" technology and I think this is unfair to say that this is the case with Bitcoin. Roll Eyes
As if citizens didn't have more important concerns than new technology, such as security, living conditions, access to water or electricity....
People are so poor that they rely on the money sent home by family members who have gone to work in the United States
El Salvador had a bad government and they destroyed it's economy, so the citizens themselves turned to Bitcoin as a safe-haven to protect the value of their local fiat currency.
their local currency... oh...
Their currency is the American dollar since over 2 decades
Bitcoin as a safe-haven to protect the value: the value of what? They're poor. No matter if you change the currency you're still poor.
the investments were made using public money, even though the country has a huge deficit.
The majority of users stopped using the platform after they had collected their sign on bonuses.
the US National Bureau of Economic Research
found that 20% of people who downloaded the Chivo app did not use their $30 sign-on bonus, and 61% of Chivo users stopped using the app after spending their bonus.[58] Despite governmental attempts to make bitcoin acceptance universal, only an estimated 20% of business accepted payment in bitcoin.[28] The Salvadoran Chamber of Commerce found that only 14% of businesses in El Salvador had conducted bitcoin transactions between September 2021 and July 2022, and 3% felt that being able to use bitcoin was valuable.[59] According to the Central Reserve Bank, bitcoin was used in 1.9% of remittance payments sent to El Salvador between September 2021 and April 2022.[60] Media outlets reported that bitcoin had failed to increase tourist revenue, and that its use even in tourist hubs was limited to a minority of tourists