Idk, I think it was a success tbh.

depends what the goal was. if it was everyday payments it fell short years ago, if it was putting a small sovereign on the map as a bitcoin jurisdiction it kind of worked. which one are you grading it on?

It was doomed to fail from the beginning but those who needed a sign that it failed have already gotten many signs. Here is more info: 1. On paper it sounds like the perfect plan. Make Bitcoin a legal tender. That will make Bitcoiners all around the world happy and boom! All the Bitcoiners will flo...

I think its not a failure. Its more easily usable then most places. But do the reserves really exist? And El Salvador shows us 3 things clearly 1)we don't have a payments problem, (ppl prefer to pay with USD) it's a store of value problem 2) usd still has value in 3rd world countries 3) people r re...

I think as long as the government remains open to it and doesn't try to directly ban it or tax it like the rest of the planet, it's in a good place.

Remember when Gibraltar wanted to become the Bitcoin capitol of the world? Same faith for El Salvador (and the US)

We are too optimistic.

Are they not educating the kids about it in school? Surely that’s a massive boost for their future over anywhere else in the world…? Unless it’s not catching on at all and indifferent to any other type of fiat education…?

What metrics would define failure? Adoption numbers, economic impact, or something else?

It never really had a chance to succeed. It needs to be from the ground up and most people in El Salvador still don’t know what BTC… it’s going to take 10+ years for BTC to have an impact there

You can enable and / or force adoption all you like, buy orange-colored seedlings and things and spread lots of orange colored pills, but if the season and conditions just aren’t right, things are simply not going to bloom. Some things just can’t be forced onto the general population and they mo...

super interesting to think about, and lingering on the difference between state imposed adoption vs grass roots. top down can go faster shorter term. but can it go further?

What makes you say that?

Sure seemed like you were enjoying being in the “failed country” when we were hanging at the bar and at Bitcoin Beach House

I think this is quite high-time preference oriented. It takes decades to change a nation. Once you see what the children (500K of them) will learn in the new Bitcoin Diploma that is being piloted now, you will see why El Salvador has a chance. Though, I understand where the negative sentiment comes...

What would make you say that ? And why would a fiat system have been better?

If they can't survive having another president... 🤔 About bitcoin...🤔 I would say, if they become shitcoin lovers or if adoption and education start decreasing. Is it the case?

Is judging going to help ? Success and failure is subjective. Unlike many places in the world, you can live on Bitcoin there and that is awesome.

If you want to hear the opinion of somebody who actually builds here in El Salvador: https://primal.net/e/nevent1qqs05ea3l7wp4ypvf84nkjm7c5cm7hugr0hj2wg9u2ur72n9kylaxac9kp388

2022