El Salvador has not been able to sustain the weight of placing bitcoin as legal tender

Salvadorans have many problems at this time with the national wallet to store their bitcoins

FrayMSFollow

Jan 3, 20226 min de lectura

Since September 7, the Latin American country of El Salvador surprised everyone by being named as the first country to place bitcoin as legal tender, something that not even world powers had done before.

Despite the fact that this decision was pushed by the ideal of President Nayid Bukele, the country's current political leader, his support from the Salvadorans themselves diminished and generated social chaos at this time.

Not only its population, it also generated a fall in the cryptocurrency market.

Bukele in the heat of farewell to the year has very big problems with his way of implementing the queen currency in his country.

Loss of investment without notice

To have a wallet or a virtual wallet for use only within the Salvadoran territory, President Nayid promoted the creation of the virtual wallet Chivo, yes, like the animal.

This wallet since its entry as a useful platform for the citizens of El Salvador, has shown several flaws, and it could be understood the first day, since the estimation of people within the system together could not be perfectly measured, this can really be taken as something understandable.

Now, the problem of level one has been increasing in an almost illogical way until reaching level one hundred of things that we cannot understand and that does not border on the line of what is understandable, much less on the line of what is legal.

Several complaints have been obtained from Salvadorans on social networks that they have lost their bitcoins in an almost ghostly way, and this is giving people talk.

Salvadorans accuse Chivo of fraud and theft

The demands are from users of the Chivo platform, part of the model created by the government of El Salvador for the construction of a way to easily carry out the operations of this cryptocurrency.

They are serious, because it carries sums of money from USD $20 to USD $16,000 that do not appear in the users' wallets, so in this way it is understood that it is not a nonsense that can be missed, even more so than these actions They have been appearing without warning to people who use Chivo as their daily exchange.

The transparency of the platform is broken at the moment, and only negative responses are heard about its operation.

Answers have been sought from the downloadable application and also from the political leader, until there are too many complaints on the list that go from portal to portal announcing to the world that El Salvador is not knowing how to carry out this disaster that also affects the package to the creator cryptocurrency.

There are no responses from government entities

Although the name of those responsible for these major inconveniences has been stained in all the international media, the affected users who continue to protest their theft have not obtained any answer or solution to their problem.

Not even a small explanation of why the platform took out a high amount of money without prior notice, this only leaves those who tended to invest with Chivo with more doubts.

It is a chain effect that very possibly ends Bukele's faith in first-world ideals of innovation, which would also mean losing his position as president, and losing a Latin American president who sees beyond what a communist system offers, it would also be disappointing for the entire continent.

Salvadorans don't want to use Bitcoin

There is a very low percentage, in the words of Nayid Bukele, of Salvadorans who use the currency that he thinks is one of the factors that will take the territory of El Salvador to another level.

It is necessary to increase the use of bitcoin throughout the country so that the goals that he set in 2017 come true, but this also means that more users must enter the Chivo platform, which now seems almost impossible.

Chivo is now classified as a massive fraud in the eyes of its citizens, and this difficulty will be very difficult to solve, if the investors' money is not returned, and they have been offered an understandable explanation.

Government-provided solutions

In the case of the loss of several people of the money invested in bitcoin, as we already contributed, a response has not been obtained, but in a previous statement regarding the little use that the currency has been having, President Bukele added an offer little sustainable in a physical sense.

He speaks of Bitcoin City as the first city with an imaginary copulation of the currency that completely divides it from another banking entity or another currency that is not bitcoin.

In addition to this, he also says that taxes will not be necessary within this predisposed territory, making a push for many more people to be interested in living something like this.

Now in much more real and less imaginative matters, a system that sees only bitcoin as legal tender and that does not have taxes will have to look for assets from another site to maintain itself; for this reason, now what Bukele added is nothing more than fairy tale ideas.

This is not even a viable option to focus attention on this fact and not on the affected Salvadorans protesting their money.

We only hope that the decisions made by government entities can release the tension that continues to be experienced at this time in Salvadoran lands, and that Bukele has the ability to make a technological advance, but respecting its citizens, finish something well and then look at other horizons.