Buying/Selling & Using Bitcoin in El Salvador.

[someone703]

The fluctuating price of Bitcoin makes it difficult for businesses to accurately price goods and services.  Imagine a store constantly adjusting prices based on the latest Bitcoin exchange rate – a logistical nightmare.  Similarly, for consumers, staying informed about Bitcoin's value to determine the best time to use it is a complex task.

The potential for misunderstandings between buyers and sellers is a valid concern.  If prices aren't clearly communicated in both Bitcoin and a stable currency like USD, confusion and frustration are likely. The lack of firsthand experiences from El Salvadorians highlights the limitations of online discussions.  Understanding how citizens are actually using Bitcoin – whether directly or through stablecoins – is crucial to evaluating the experiment's success.

The focus on ROI calculations for investors is another important point.  Bitcoin's volatility makes it challenging to predict profitability, especially for those unfamiliar with cryptocurrency markets.

[Assface16678]

A good and curious question. Yes, certainly in theory, Bitcoin has been officially accepted in El Salvador and citizens can buy anything even from grocery stores with Bitcoin, but in practice on the ground, has this really happened? We need someone living in El Salvador to tell us the facts.

Implementation on the ground is somewhat difficult, because El Salvador is a small and poor country and does not have the appropriate infrastructure to use Bitcoin perfectly. There is also a problem with Bitcoin itself, as it is not yet suitable for small and quick daily transactions.

I believe implementing bitcoin would not be easy especially if it’s a small country and the people are still naive about the current innovation and technology like bitcoin. The struggle is actually real in the beginning. But Bukele made it despite of the strikes at first, and now the people are slowly enjoying the advantages of bitcoin. But if ask if they are actually using it on a daily basis, then only a responsible citizen of El Salvador can prove that, since all we have right now are just speculations coming from the news that concern El Salvador.

Yeah, if it's a small country with few citizens but notice that they are still using their fiat, it's because they still can't fully let go of their fiat system. It's because it should not be replaced. Many bitcoin believers want to fully replace the fiat system and make bitcoin the only currency we will use, but the thing is, I don't think that is practical and should be done. I have been a bitcoin fan ever since, but I don't agree that bitcoin will replace all fiat or banking systems. What I want is that bitcoin will be legalised and will be regulated worldwide, but still, there's still a fiatsystems. What I want is that bitcoin will be legalized and will be regulated worldwide, but still, there's still a fiat system. Let's take, for example, El Salvador. The country is accepting and adopting bitcoin, but they are still using fiat because they are not yet ready for that.

[yhiaali3]

Yeah, if it's a small country with few citizens but notice that they are still using their fiat, it's because they still can't fully let go of their fiat system. It's because it should not be replaced. Many bitcoin believers want to fully replace the fiat system and make bitcoin the only currency we will use, but the thing is, I don't think that is practical and should be done. I have been a bitcoin fan ever since, but I don't agree that bitcoin will replace all fiat or banking systems. What I want is that bitcoin will be legalised and will be regulated worldwide, but still, there's still a fiatsystems. What I want is that bitcoin will be legalized and will be regulated worldwide, but still, there's still a fiat system. Let's take, for example, El Salvador. The country is accepting and adopting bitcoin, but they are still using fiat because they are not yet ready for that.

As far as I know, El Salvador does not have its own fiat, but rather uses the US dollar. This was before Bitcoin was officially adopted to become the main currency in El Salvador.

I do not know if the fiat you saw is the US dollar, but in any case, given the difficulty of using Bitcoin for small, quick daily payments, there must be another currency besides Bitcoin in El Salvador, which is most likely the US dollar, because El Salvador does not have its own national fiat.

[freedomgo]

Yeah, if it's a small country with few citizens but notice that they are still using their fiat, it's because they still can't fully let go of their fiat system. It's because it should not be replaced. Many bitcoin believers want to fully replace the fiat system and make bitcoin the only currency we will use, but the thing is, I don't think that is practical and should be done. I have been a bitcoin fan ever since, but I don't agree that bitcoin will replace all fiat or banking systems. What I want is that bitcoin will be legalised and will be regulated worldwide, but still, there's still a fiatsystems. What I want is that bitcoin will be legalized and will be regulated worldwide, but still, there's still a fiat system. Let's take, for example, El Salvador. The country is accepting and adopting bitcoin, but they are still using fiat because they are not yet ready for that.

As far as I know, El Salvador does not have its own fiat, but rather uses the US dollar. This was before Bitcoin was officially adopted to become the main currency in El Salvador.

I do not know if the fiat you saw is the US dollar, but in any case, given the difficulty of using Bitcoin for small, quick daily payments, there must be another currency besides Bitcoin in El Salvador, which is most likely the US dollar, because El Salvador does not have its own national fiat.

Despite of the fact that El Salvador has accepted bitcoin as a legal tender, but it does not mean that the citizens are already prohibited from using USD which is their first currency before bitcoin has been legalized. I guess bitcoin still serves as a reserved currency since majority still prefer to use USD. But when it comes to investment and trading purposes, only bitcoin top it all that’s why they can’t resist the existence of bitcoin due to its high advantages and benefits that the citizens can gain.

[Ultegra134]

This may be anecdotal but, couple of months ago, someone posted about their El salvador trip in r/bitcoin, see: https://www.reddit.com/r/Bitcoin/comments/17otops/just_got_back_from_el_salvador_thoughts_on_bitcoin/

With most folks being unbanked and cash being the the most common payment method, tbh, I would not expect most merchants are accepting bitcoin since it's not easy to come from those so have your fiat ready at all times and plan a nice itenerary surrounding bitcoin accepted shops.

That's an interesting story, and El Salvador sounds like a great place to visit. I wouldn't mind a vacation there as well, if the flights weren't so expensive. Regarding Bitcoin adoption, it would be best to hear it directly from someone local, even though this story provides great feedback. Honestly, it's kind of expected that the adoption isn't that great; even after 3 years, it became legal tender. Most locals are unaware of how exactly it works, and it's completely understandable; perhaps the government hasn't assisted in that part as well to make it more approachable.

Apart from that, Bitcoin's volatility might be an off-putting factor for vendors, as they're relying on that money for their livelihood. A price dip will ultimately result in a loss of revenue, and although things can go both ways, some prefer not to risk it.