[2021-06-25] El Salvador Will Airdrop 30$ Worth Bitcoin to Its Citizens

[kriptomadness]

President Nyib Bukele, during a press conference this morning, announced the government’s decision to give $30 airdrop of Bitcoin to every adult in the country.

However, this is only for the adults who have downloaded the government’s Bitcoin wallet app on their gadgets. According to the President, that’s the only criterion.

At present, the adult population of Salvadorians is around 6 million. Therefore, if the government were to airdrop $30 to each of them, they must have invested around $190m to execute this.

On this note, market analysts have postulated that this will affect the Bitcoin market as the holders will increase. And the price might have to scale up a little – which is helpful to the current dip anyway.

The progress of El-Salvador in regards to Bitcoin acceptance is no longer news in the cryptocurrency space. The El-Salvador parliament passed the Bitcoin Law some weeks back, and it will come into effect fully on September 7 this year.

There have been mixed reactions concerning the reception of these airdrops. The majority of the Salvadorians are, according to our correspondence, happy with it. However, the opposition parties and international community are not too well in agreement.

Either way, it’s obvious that El-Salvador is hell-bent in incorporating Bitcoin into its financial system as seamlessly as possible.

https://coinbench.com/el-salvador-will-airdrop-30-worth-bitcoin-to-its-citizens/

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1715146442

[alevlaslo]

have bitcoins already been purchased for this? if not than the price will rise, and if so than it will fall

[SFR10]

At present, the adult population of Salvadorians is around 6 million. Therefore, if the government were to airdrop $30 to each of them, they must have invested around $190m to execute this.

Due to the following reasons, I don't think they'll be investing that much:

• The estimated adult population that's been circulating lately is inaccurate ^{[from what I've seen, it's closer to 4.5 - 4.7 million instead]}.
  
  

  Assuming all 4.5m adults in El Salvador take up this offer, it’s roughly a 2.5% overnight boost to #bitcoin’s global user count.
  

• Not all of them will use BTCitcoin while the rest of BTCitcoin users might opt for other known wallets instead of "Chivo e-wallet", especially those that hate going through some sort of KYC process ^{[e.g. Facial recognition]}.
  ^{- Here's the "video".}

[LeGaulois]

@SFR10

The poverty rate is very high there. Half of the population is poor. So you can be sure they will use the $30 given. They can eat probably during 1 or 2 week with that. Who, being poor, would refuse free money?

The 2.5% is not important in reality because what matters is if these people will continue to use Bitcoin after they used their "free sample".

@alevlaslo

No, they didn't buy the bitcoins yet. But what's interesting to know is where the money comes from? Who's really paying the BTC

[aoluain]

This is interesting.
Whether they have or have not purchased the Bitcoin yet the government its really
trying to push people along with adopting and getting familiar with the workings of
wallets, receiving and spending. By doing this it speeds up the process of buying, selling
(and holding) Bitcoin. This is very brave and shows full commital by the government.

[tabas]

A massive airdrop. The idea is good and wherever they'll get the fund is I think already secured by their government. I also think that this was already planned before when we've been getting hints that they're going to make it as a legal tender.
It's a good way to educate people what btc is especially to the people there who are still unaware of it. At least they get free $30 and they can spend it if they want, hold or trade.

[dansus021]

its means el savador buying bitcoin with huge amount, anyway can other country signup for this airdrop  . i hope country who don't banning bitcoin started to do the same

[bbc.reporter]

@SFR10

The poverty rate is very high there. Half of the population is poor. So you can be sure they will use the $30 given. They can eat probably during 1 or 2 week with that. Who, being poor, would refuse free money?

The 2.5% is not important in reality because what matters is if these people will continue to use Bitcoin after they used their "free sample".

@alevlaslo

No, they didn't buy the bitcoins yet. But what's interesting to know is where the money comes from? Who's really paying the BTC

I reckon the El Salvadorian government will pay for the coins through the taxes they imposed on their people hehe. It is very easy for politicians to be generous if the money does not come from their own pocketses. Gollum gollum hehehehe.

[SFR10]

@SFR10

The poverty rate is very high there. Half of the population is poor. So you can be sure they will use the $30 given. They can eat probably during 1 or 2 week with that. Who, being poor, would refuse free money?

You have a point but if that's indeed the case and they're that poor, then perhaps "some of them" have problems when it comes to owning a cellphone as well.
^{- A big portion of their adult population might never be able to utilize this airdrop [unfortunately].}

anyway can other country signup for this airdrop  .

They can't; Check the following video:

^{- Here's the "video".}