Some Salvadorans claim funds are missing from their Chivo wallets
“No tech support and only useless calls, where is my money," said Luis Guardado in a direct appeal to El Salvador President Nayib Bukele. Some of the money from El Salvador’s state-issued Chivo wallets is reportedly missing, according to many Salvadorans posting on social media.In a Dec. 16 Twitter thread started by user “the commissioner,” at least 50 Salvadorans have reported December losses totaling more than $96,000, following the setup of the Bitcoin (BTC) wallets by the government. Some of these transactions were for as little as $61, but others said they were missing thousands or....
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According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use Chivo Wallet After Government’s Bitcoin Bonus An April 2022 working study published by the NBER, asks if cryptocurrencies are indeed currencies after researching bitcoin (BTC) as legal tender in El Salvador. NBER conducted a face-to-face survey with 1,800....
Why didn’t we thought of measuring Chivo and Bitcoin adoption this way? Cero anecdotal evidence. Only facts, numbers, and reports from wherever we can get them. What do we know about the Chivo wallet’s Lightning node? What apps besides the government wallet are the Salvadorans using? Are they happy with them? Investor and blogger Kevin Rooke has a fresh take on El Salvador’s Bitcoin adoption and we’re here to summarize it. “I wanted a deeper understanding of how real people in El Salvador are interacting with Bitcoin, so I went off in search of other success metrics.” Related Reading....
El Salvador President Nayib Bukele gives us an update on the adoption progress of their government Bitcoin app - Chivo Wallet.
Seeking a permanent solution for over 4 million BTC users, the government of El Salvador focuses on Chivo wallet’s stability and uptime, scalability and social impact. El Salvador, the first country to adopt Bitcoin (BTC) as a legal tender, has relaunched its in-house Chivo wallet to address the existing challenges of BTC transfers locally. With AlphaPoint integration, the updated Chivo wallet is expected to carry out instantaneous low-fee Bitcoin transactions while fixing concerns related to stability and scalability.Within the first month of establishing BTC as a legal tender, President....
During Bitcoin Week, reports of the Chivo Wallet stealing people’s Bitcoin reached a mainstream audience. Salvadorans have been dealing with the issue and reporting it to tech support for a while, without much luck. The international influencers that recently visited El Salvador have a much wider audience, and they are very confident that they know […]