early this year i visited el salvador after a long time ago. immigration was smooth and fast. the country feels less corrupt and more secure than 20 years ago.
i tried to pay everywhere in bitcoin but in 80% of places i was rejected. they accepted only usd. mostly small companies in san salvador and in santa ana accept bitcoin for payments. almost all large companies do not like bitcoin at all and find all kind of excuses: it is down today. sorry, we cannot accept it because of this and because of that.....what is down??? bitcoin is never down! you dig deeper and find out they mean chivo when they say bitcoin. what the heck is chivo? it turns out that it is the 'government' digital currency wallet. bukele 'donated' everyone who did full KYC 30 usd. usd, not bitcoin. they had to give their name, address, phone number email and received 30 usd in a usd wallet which can also do bitcoin. but the wallet is flawed, it is down many times, it has lost bitcoin funds of some users and they blamed bitcoin of course...and where did the money come from anyway? not from bukele, that is sure..
what?? why? the hooded guy gave a weird but inspiring speech at the bitcoin conference announcing that a country had adopted bitcoin and the country was el salvador. bukele confirmed that later. he also announced that el salvador will issue bitcoin bonds and buy one bitcoin every day.
it turned out to be a political stunt. a marketing campaign abusing bitcoin. bukele also announced that everyone owning one bitcoin could immigrate to el salvador. it turned out not to be true.
this political stunt put el salvador on the map. no one has heard about el salvador before. most people did not even know that it existed. two years later el salvador is booming, it got a record number of tourists and a record number of 'investments' . bukele introduced a plan for a 'bitcoin city' which many people on a message forum said looked more like a five mile city.
when you land in el salvador you cannot see any ads for bitcoin. it looks like it does not exist. no billboards, no one even talks about it. there is a small community at the beach which uses it and trades small products using lightning. the youtubers from italy below spent one year in el salvador when it became legal tender and report one year later that almost no one accepts bitcoin any more.
what is wrong with el salvador? does a government controlled wallet provide "freedom"? does it confirm the rule: do not trust any politician?
guatemala has thriving bitcoin adoption communities without any 'government' intervention costa rica has a bitcoin market in uvita and in other places even though the 'government' is hostile to bitcoin lugano in switzerland has emerged as a global leader in bitcoin adoption
bitcoin was created against 'government', against oppression and control. whatever "government" touches, fails. it looks like el salvador confirms this rule
here is the video of the italian confirming what i experienced: https://www.youtube.com/watch?v=wPMGPDjZz7A
is el salvador a failed bitcoin state because bukele messed it up with totalitarian chivo wallet?