But all the comments in this thread are talking about the failure of bitcoin, when the article is about the wallet software they developed.
That’s the sleight of hand.
That’s the sleight of hand.
[0] Assuming it's true, as a sibling comment says, that 70% of people have done something with it and 11% are using it for something.
Calling Chivo app a 'bitcoin wallet' is an intentionally misrepresentation, if not by the confused writer of the article then of the government that confused the person writing it.
These people didn't 'ditch' a bitcoin wallet, or at least not the one mentioned, because Chivo never was one.
Users should be aware and make a conscious decision about where their keys are kept, however this is usually something that doesn't matter until they either lose their phone or law enforcement freezes/seizes their money. It's pretty high up on Maslow's hierarchy of financial freedom.
Do you have evidence that the money secured by Chivo is actually 'secure.' If not then it fails to meet your own definition of a wallet. It's the constant HN semantic argument ("well it lets you log into something to trade something that isn't actually bitcoin but you could get bitcoin eventually so therefore it's a bitcoin wallet!!!") Yes if you want to play semantic games my work computer (sans bitcoin software) is also a bitcoin wallet because I can access my online banking which in turn allows me to, eventually, get bitcoin after a number of operations.
Having credentials that in turn allow you to trade on the lightning network that in turn allows you to get bitcoin does not a bitcoin wallet make.
The headline says the customer's threw away their wallet that holds their cash.
In reality, they through away their debit card which, if everything goes right and their accounts aren't seized and their bank stays honest, they can pull out a wad of cash. They probably threw away this debit card because they already transferred their cash to a different bank.
A debit card is not a wallet of cash. Throwing away the debit card doesn't tell you anything of what you did with the cash the debit card could possibly access. Chivo is a debit card for maybe, hopefully controlling the ability to trade bitcoin held in custody somewhere else on the lightning network, not a wallet containing bitcoin. Calling it a bitcoin wallet is intentional deception, if not by the author then by the person that told them that.
Now if I told you everyone threw away the wallet that held their national cash, that would paint a very different portrait than saying they all threw away their debit cards to a particular insecure bank that they already transferred their national cash out of. The first would imply they gave up national cash (bitcoin), the second would just imply they gave up on one particular stupid bank that might give them access to their national cash (chivo).
>Not a single person in the general public would even know half of the buzzwords you just used and the other half isn't interested in technicalities. The wallet is used to pay and receive bitcoin. It's a bitcoin wallet at least for 99% of people on the planet.
And yet apparently many El Salvadorans apparently did. Because they chose to transfer their assets to 'more secure' apps and actual bitcoin wallets. The thing is, when it concerns someones money, they tend to learn very fast. The same country boy that may laugh at nerds and chemical terms and academic 'buzzwords', may actually learn and know a ton about chemistry when it comes to maintaining their crops. People in Central America are not stupid.
Did you not read the article? It literally quoted people talking about using other apps instead. Operative words: "Have transitioned." I didn't say EVERYONE transitioned, sure some likely did ditch 'bitcoin' entirely.
"Meanwhile, many living in tourist hot spots on the Pacific coast, where Bitcoin usage is highest, have transitioned to other crypto wallets, such as the privately developed Bitcoin Beach."
>Still not really helping grandma or the other 45% of the population that don't have a bank account.
Crypto and bitcoin doesn't require a bank account. Transitioning from chivo doesn't require a bank account.
>learned really fast is NIL.
Come again? Is this supposed to be some racist dig at Salvadorans to suggest they can't learn quickly? For many people using crypto can be more accessible than signing up for a bank account.
Racist my ass, you entitled first world country geek.
You paint a picture of people in El Salvador that simply isn't the case. The supermajority CAN get access to internet if they like. I have lived in the third world, including places poorer than even El Salvador, and for less than a common days wage even in war-torn syria you can pay a shop-keep for internet access at a cafe. Those of us who have spent time in the third world understand that people often share resources there, including computers and smartphones, so seeing the proportion of people who say have a smartphone is only a slice of the picture of who can actually get access to one (as an example, if only the wife of every household had a smartphone then the whole nuclear family would still effectively have access despite a much smaller number reflected on the statistics). Even having a cousin / uncle / whatever can be enough to be good for the extended family, as that person can serve as a nexus to internet based utilities to the family. These types of relationships often aren't reflected on the statistics, but people in the first world often don't understand this.
[0] https://datareportal.com/reports/digital-2022-el-salvador#:~...).
I'm glad you finally acknowledge this point and have walked back from your prior odd rhetoric that suggested it was improper to think that someone without a bank account could understand crypto ("you are talking about learning to use crypto when they didn't even use a normal bank or google before.") And I'm glad you've walked back from your prior rhetoric thinking the ability of the people of El Salvador to have "learned really fast is NIL."
Characterizing an El Salvadorian as someone who "didn't even use google before" sounds a bit presumptuous, by the way, and probably isn't even representative.
You finally agree people aren't inept of learning but simultaneously believe they can't learn how to use crypto? Only a bit over 50% of El Salvador are women, does that mean it's useless to teach things that pertain almost exclusively to women? The fact that only the majority and not supermajority have regular personal internet access isn't an argument against the ability or even the notion that many or even most people having knowledge of crypto if they so desire it.
The fact that only the majority have personal ready access to internet does not discount utility of what's available to them on the internet.
We all know cash is practical. Cash has disadvantages and disadvantages. Some people will choose to dip into alternatives, some will not.
>Shared phones and computers... how practical
Sorry but sharing is third world survival 101... when resources are more dear expensive items often become shared so they can provide the most utility. Very practical.
> you overlooked the smartphone penetration
Can you cite your claims regarding smartphone penetration? You really didn't provide enough information for me to comment on. Internet and crypto access comes through many forms, so it's difficult for me to comment purely based on uncited figures regarding smartphones. You stated most people don't have smartphones, which I think is probably true, but difficult for me to comment on uncited.
It's not feasible for the majority ( ;) ) of El Salvadorians to use crypto as a cash replacement because there is simply not enough digital infrastructure for it. Maybe your boy Elon will drop some Starlinks. lmao.
PS: I really hope you are just an edgy troll and that's not your real persona ;0)
And now you've finally walked back far enough to simply say most won't use it as a cash replacement by majority at present. I think that's fair -- I've never said I expect bitcoin to completely replace cash. Cash is of course practical, and has its place.
I think you've been educated enough at this point we can stop here.
The thing with educating other people is that you need to have knowledge about the topic you are trying to educate people about and you just don't have it. The real world is not your high school debate club were you can just pull shit out of your head and get points for being witty. At least you didn't try to paint me as racist and sexist this time :D