A survey by the U.S.
National Bureau of Economic Research in partnership with Cid Gallup found that only 20% of respondents in El Salvador continued using the Chivo wallet after downloading it and spending the initial $30 signup bonus. Most downloads occurred last September, when Bitcoin was first authorized for use in El Salvador allongside the dollar, and virtually no one has installed Chivo on their phone in 2022,
No wonder. They should have opted for Bitcoin Cash (BCH), the upgraded Bitcoin that doesn't require bad functioning custodial intermediaries like Strike, Chivo etc. or botched L2 like Lightning. BCH scales & handles much higher transaction load & is cheap to use, unlike BTC.
F U D D E R N U T S Q U A S H
Shocker
It wasn’t Bitcoin that “rolled out” in Elsalvadore, it was a custodial broken Layer2 (off-chain) clusterjam that has literally NOTHING to do with Bitcoin other than the marketing.
Ok 👌
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