El Salvador Bitcoin wallet onboard four million users

[RILWAN]

This number is small compared to other parts of the world where bitcoin is not legalized yet, El Salvador has 4 million wallets what is the activeness rate of those wallets, and what indices does it show that citizens of El Salvador have fully adopted bitcoin and are actively using they wallets.

[DdmrDdmr]

<…>

Tell me about it. On the Spanish local board there is not a single known soul from El Salvador. Regardless, there is likely a major SEO issue here on Bitcointalk, and leaving aside people’s tendency to use fast paces social networks as a source for information, they simply do not land here.

On my prior post on this thread, I stated that those 4M were close to all adulthood people in El Salvador. @Bukele toys somewhat with the idea (see https://twitter.com/nayibbukele/status/1483864949512409091), but perhaps we’ve overlooked the population that emigrated at some point. In 2019, the figure was that of 1,6M people. Those that are 18 or above are also candidates to use the Chivo System and obtain the 30$ bonus, so there is still an aggregate gap to cover (we need to consider those above 18 years old,  out of the 6,5M population+1,6M emigrants).

[uneng]

4 million wallets means 4 million bitcoin adopters

It is possible there that one person can own 2 or more Chivo wallets but if the stats say that it's one wallet per person then that's really a lot of users in a short period of time.

Theoretically it's not possible for one person to own more than one wallet, because Chivo is a centralized bitcoin wallet which enforces KYC policy. So each wallet must be attached to a different ID card. If someone managed to own more than one wallet somehow (cheating), they are going against the rules and may suffer the consequences for their actions, especially because we are talking about a 30$ airdrop (it's a lot of money to be distributed for free) and for this reason, I believe agents from the government watch and supervise it attentively.

[Wiwo]

4 million wallets means 4 million bitcoin adopters

It is possible there that one person can own 2 or more Chivo wallets but if the stats say that it's one wallet per person then that's really a lot of users in a short period of time.

Theoretically it's not possible for one person to own more than one wallet, because Chivo is a centralized bitcoin wallet that enforces KYC policy. So each wallet must be attached to a different ID card. If someone managed to own more than one wallet somehow (cheating), they are going against the rules and may suffer the consequences for their actions, especially because we are talking about a 30$ airdrop (it's a lot of money to be distributed for free) and for this reason, I believe agents from the government watch and supervise it attentively.

You are right the government is going to pay close attention to the issue of KYC which is made easy since chivo wallet is a decentralized none custodial wallet I believe and that will make the issue of verifications easier so there will not be cheating because each wallet holder will be allocated with one id number and these identity cards are a link to your fingerprint.

[Jasad]

The current population of El Salvador is estimated to be more than 6 million people, if the bitcoin wallet in El Salvador has been held by more than 4 million people, it can be said that it is a very extraordinary achievement, because the government of El Salvador has recently legalized bitcoin, but has been able to get a very extraordinary achievement, with the achievements obtained by el salvador, can trigger other countries to legalize bitcoin.and accept bitcoin as a legal currency..

[mindrust]

As the need for Bitcoin mainstream adoption keeps rising across the world El Salvador one of the first countries around the world to have adopted Bitcoin as a Legal tender developed a native Bitcoin wallet which their initially offered $30 bitcoin raindrop to they citizens through their native wallet sometime late last year, have announced the number of users in the database which have amounted to a swooping 4 million registered users which to me is a great milestone to the overall bitcoin adoption.
Source: https://cointelegraph.com/news/el-salvador-s-bitcoin-wallet-onboards-4m-users-with-netki-partnership

Amazing news. If this experiment becomes a successful one in El Salvador, soon we can expect every other country adopting bitcoin as well. When that happens it won't be millions but there will be billions of people using bitcoin as their default currency. I guess Visa and Mastercard will have to go bankrupt because bitcoin will also act as a payment gate when that happens.

[slaman29]

<…>

Tell me about it. On the Spanish local board there is not a single known soul from El Salvador. Regardless, there is likely a major SEO issue here on Bitcointalk, and leaving aside people’s tendency to use fast paces social networks as a source for information, they simply do not land here.

On my prior post on this thread, I stated that those 4M were close to all adulthood people in El Salvador. @Bukele toys somewhat with the idea (see https://twitter.com/nayibbukele/status/1483864949512409091), but perhaps we’ve overlooked the population that emigrated at some point. In 2019, the figure was that of 1,6M people. Those that are 18 or above are also candidates to use the Chivo System and obtain the 30$ bonus, so there is still an aggregate gap to cover (we need to consider those above 18 years old,  out of the 6,5M population+1,6M emigrants).

Even so with bitcointalk, surely if there are 4 million, there have to be odds of 1 of them finding a link to here. And as you said, many have emigrated and gone to USA. Remember also that this big conference in Miami was the one that announced it, and surely everybody there is either on Twitter or Reddit or Bitcointalk, and sharing something. But we're not seeing it or I'm not seeing it. It just doesn't make sense to me

[passwordnow]

4 million wallets means 4 million bitcoin adopters

It is possible there that one person can own 2 or more Chivo wallets but if the stats say that it's one wallet per person then that's really a lot of users in a short period of time.

Theoretically it's not possible for one person to own more than one wallet, because Chivo is a centralized bitcoin wallet which enforces KYC policy. So each wallet must be attached to a different ID card. If someone managed to own more than one wallet somehow (cheating), they are going against the rules and may suffer the consequences for their actions, especially because we are talking about a 30$ airdrop (it's a lot of money to be distributed for free) and for this reason, I believe agents from the government watch and supervise it attentively.

Well, what I'm thinking is that there are citizens that just made a wallet for the first time and just leave it there without following up with the KYC. And then, they've made a new one because like they've forgotten the first one they've made. Since, there's no KYC yet on the first one, they won't be known as the other of it if they're going to attach KYC to the 2nd wallet that they've made. That's what I'm thinking and technically, the first one they've made counts to that number tally.

[RILWAN]

What this means is there has been low adoption of bitcoin in that country most especially when Bitcoin is a legal tender compared to the number of wallet users across countries who have not adopted bitcoin. The El Salvador citizens have always had a drawback when it comes to Bitcoin adoption remember when there was a protest to stop the adoption of Bitcoin in that country.

[fiulpro]

4 million registered users and at the same time the Volcanic Bonds on the way, I do think the government is doing well with the bitcoins till now. Even the president of Turkey was all set on the meeting and hopefully he would also follow their footsteps. Government did invest a lot in this, making 4 million people register is no small deal and they have achieved this in quite a short time. I do think that with the KYC on road they would be ofc able to differentiate if a person owns more than one wallet, I do not think that 4 million is a small number at all! The adoption takes time, it might take years for majority of the population to consider it a worthwhile investment but right now I think it's a huge milestone for them.