A majority distrust it right now because, no shit, Nayib bought in right before the bear market lol. And Chivo Wallet sucks. There's a lot of work to educate everyone about Bitcoin, not just Salvadorans—but El Salvador is building and has low time preference.

But Chivo has been out for over a year now. At this point, if it can't at least be made to not cause losses for those using it, the entire Chivo network should be taken down and not re-launched until these types of issues are resolved.

Examples:

AMA: I am bitcoin-only, I self custody, I avoid KYC, I run my own node. And yet I've still managed to get #REKT just like crypto people!

A few days ago $80 stolen by Chivo. Today $800 stolen by this bad boy here, in El Zonte. I guess my next step is $8000? Kek.

Athena Bitcoin ATM

https://twitter.com/giacomozucco/status/1593265856955305984 [Nitter]


This couple paid for their hotel bill on-chain (and waited for six confirmations) but the hotel showed a screenshot that their transaction was “cancelled” by Chivo

This is either state theft or gross incompetence

Not your keys, not your coins 🇸🇻 https://twitter.com/Lorinaura/status/1589996933984137216

https://twitter.com/gladstein/status/1590038626901299202 [Nitter]

I know people who use Chivo without problems, and even praise it, and I know people who say they've been "Hackeado" using Chivo. Of course, I also know people who say they were hacked but actually just fucked up using it.

Since I don't trust it and recommend other (open-source) solutions, even to people who use Chivo and like it, I can't really comment much. Intuitively I would suspect a lot of the problem is user error, which is itself a big problem. I know of people sending to the wrong address, and I know of people who just "clicked on a survey link and my money was gone."

It's also entirely possible there are vulnerabilites in the code. It's not like Salvadorans are known for their coding genius.

This to me is the equivalent of stupid things like the various wallet experiments Bitcoiners tried 10 years ago that led to hacker field days. When you get down to the actual work of adoption, this is the sort of problem that needs to get worked through.

I am doing my part adding liquidity to nodes from El Salvador, it is good that people at least know the basic, a qr allow them to be pay in bitcoin, we only need to support diversity in wallets/nodes, the interface will be the same.

A few days ago $80 stolen by Chivo. Today $800 stolen by this bad boy here, in El Zonte. I guess my next step is $8000? Kek.

Note that Giacomo confirmed later on Twitter that he contacted Athena and got the funds returned without issue. Not good of course. But just a technical issue that got dealt with, not fraud. That ATM happens to be right next to the sea so wouldn't surprise me if they're still figuring out equipment reliability issues.

Re: Chivo in general, lots of people think it's not very good. In El Zonte merchants mostly use other (Lightning) wallets. Though the few times I've paid to Chivo wallets it has worked.

30 sats \ 0 replies \ @dad 22 Nov

Outrageous !