12% of Salvadorans used Bitcoin for purchases in 2023: Survey \ stacker news ~bitcoin

According to an annual survey by José Simeón Cañas Central American University in El Salvador, 12% of the local population used Bitcoin at least once to pay for goods and services in 2023.

The survey shows that the number of Salvadorans using Bitcoin has fallen. In 2022, research from the same university claimed that 24.4% of the population had bought something with BTC.

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0 sats \ 0 replies \ @anon 17 Jan

El Salvador is the perfect example of showing that most of the people don't deserve Bitcoin (because are dumb) and we are still early. Even when a government is giving you the opportunity to use freedom money, people are still going like "nah... I will stick with slave money". You get what you fucking deserve.

0 sats \ 2 replies \ @siggy47 17 Jan

I guess the optimistic take would be Gresham's Law taking hold. People are hoarding their bitcoin and spending the depreciating dollar quickly. It would make ísense, since bitcoin's fiat price improved substantially in 2023. That's just speculation, though.

51 sats \ 1 reply \ @Wumbo OP 17 Jan

I also wondering if people where just "cashing out" after the airdrop in the beginning.

0 sats \ 0 replies \ @siggy47 17 Jan

I don't know. Lots of cashing out went on in 2022, but I don't know if that would qualify as using bitcoin to buy goods and services in the survey. I'm sure the bear market soured the average Salvadoran on bitcoin, and it will take time to recover from that.