Despite government incentives to use Bitcoin, people distrust it because they know how volatile it is and 70% of the population thinks it’s a scam.
Turns out even the Salvadoran poor are more financially savvy than tech bros.
1bluepixel is an intelligent person who knows what he is talking about!
Edit: Alright, I’ll admit I’m wrong. You are pretty dumb. Stay classy.
El Salvador adopted both BTC and the U.S. dollar at the same time as national currencies. It’s not a matter of BTC vs. SVC.
Edit: The person I’m replying to edited their comment instead of admitting they were wrong. Classy.
You’re getting downvotes from the cryptobros who refuse to acknowledge the legitimate criticism of their holy savior BTC.
I have not seen a single piece of legitimate criticism of BTC anywhere on the whole wide lemmyverse. And there’s plenty to criticize.
El Salvador adopted USD in 2001 and phased out the Colon (former currency) over the next few years. Bitcoin came way later.
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Sorry your jimmies got rustled.
The story and OP’s blurb both say that all the locals use USD for everything, not the El Salvador Colon. So you comparing the volatility of the ESC to BTC is worthless.
One cannot force people to be free. Bukele did a huge disservice to bitcoin by making its acceptance mandatory.
Organic adoption is the only way.
The most depressing is the fact that he will be unjustly celebrated by the same media outlets that criticize him, in <2years when the bitcoin price peaks again.
