A few years? It happened a year ago, give or take a month or two. 

The economic situation in the Central African Republic is even worse than in El Salvador. They don't have the crime rates of South America, but we are talking about a country where the majority of the population don't even have electricity or access to computers and mobile phones. 8 or 9/10 people don't have internet access. Good luck using Bitcoin there. And before someone recommends Bitcoin over satellite, those struggling to put food and clean water on the table have other priorities that purchasing satellite dishes. 

It still remains the official legal tender in El-Savador and there have not neither has there ever been any official statement stating the reversal of bitcoin as their legal standard, then i asked myself why the worries up and down from other governments and those that couldn't deer take a common risk just like El-Savador.


I still want to believe that few were yet to cashout due to one reasons or the other but just as you've said, how amazing would this have turn to when they got to discover what's in for them in the wallet, by then the whole world could have seen what they all termed "stupidity" act of Nayib Bukele turn to wealth and fame.


What infrastructure? what else could El-Savador have developed more than all it has, btc ATMs, mining rigs, bitcoin city/beach, bitcoin tourist centre, chivo wallet for all citizens with free $30 worth bitcoin, good accessible network frame and regulations suitable enough unlike India demanding 30% on tax, many institutions, organizations and companies all accept cryptocurrency for transaction in the country, then what else could Bukele have done? The president just set a good example and never forced anyone to use it, should we still blame him for that.

Yes, it indeed has not been introduced well enough before they legalized it, things happened too fast in the eyes of the people in El Salvador I bet most have just agreed to follow this adoption because of the promises the President has made to them and their businesses or maybe to save themselves from being socially singled out by not adopting to this new thing.

It would have been nice if El Salvador di not announce their plans too early let alone executing it that fast. Instead, they should have allocated a few budget for free courses and seminars about bitcoin and this industry before executing the legalization to make people understand what they are getting themselves into so they can be prepared when price plummets just as how it did in the past few months. I pity those businesses and individual people that suffered losses due to this bad decision making of the leader which the people trusted and followed blindly.

While it hasn't been a long time yet, we can say that this was a bad and a failed attempt. Still though, I am hopeful and wishing that they can recover from this.

Yea right. this is indeed a failure. but that doesn't mean failure means ending. but it's just that people's interest in el salvador is still low and today continues to wane. but we do not know in the future when its citizens get education about crypto . and begin to understand how practical it is to pay via crypto, be it bitcoin or altcoin. so I'm sure at that time the citizens of El Salvador will start flocking to start using bitcoin.

so el salvador is just not good at providing crypto education to its citizens because even this adoption of bitcoin is too sudden. and it has become commonplace. every time something new comes up, there are always pros and cons. we will have to see a few years later then we will conclude whether this really failed or not.

in my country people are flocking to buy crypto. even to the artists plunge into the world of crypto.
and this happened because the news media reported the achievements of successful people from crypto. which makes people curious.
maybe el salvador also needs to approach its citizens by controlling the media there. because people tend to follow what the news media says.

need adjustment and need more education about how to use Bitcoin as well as using FIAT. Saying failed may not be exactly what you said, because they have not revoked or made a decision to use bitcoin. It is not easy to adopt bitcoin

It’s not easy for everyone to believe in something that they can’t see, especially when it is about their money. Moreover, the bitcoin price is not stable and for anyone holding it, there is a risk of losing money because of the declining value.

There is just one simple point which people need to understand and that is governments won't accept decentralized crypto aka bitcoin. The trap by Salvador government is very much the same as done by majority of big powers aka keep the crypto centralized so that government have full control of it.

well ... I was surprised to read this. but when searched from various sources it is as written by the OP.

I still remember, I myself am proud of El Salvador to be an inspiration for other countries to follow suit. and sure enough some countries are starting to follow suit. but i don't know the actual condition of el salvador at that time.
After I explored the shortcomings of El Salvador, it was only lacking in the way of education or approach to its citizens. but i still appreciate el salvador. and I hope that el salvador can make a new approach for its citizens to understand the advantages of bitcoin.

That is correct. But with the pandemic still in play, it looks like we're living an eternity to be honest. I'd wait a few more years to see how Bitcoin's adoption would progress within the region. As long as the government does its part to provide the tools necessary for adoption, Bitcoin will become largely successful as an alternative to Fiat within the country.



I fail to see how people in the Central African Republic will adopt Bitcoin as a medium of exchange since most of them are poor with very limited resources. If the government wants people to adopt Bitcoin, it's going to need to provide the tools necessary to do so. Maybe something like giving Internet access for free with a smartphone will suffice? Unless there's the infrastructure for making digital payments within the country, only the wealthy will use Bitcoin while the rest will carry on with their lives using Fiat.

If only developed countries like the US, UK, and even Japan adopted Bitcoin as legal tender, things would've been different. But it's unlikely they'll do it since their economic situation is pretty good. For now, it seems that only developing countries or countries with a bad economic situation will adopt Bitcoin as legal tender. Let's see how everything will turn out to be in the future as Bitcoin continues to grow in popularity worldwide.