0 sats \ 2 replies \ @siggy47 17 Jan \ on: 12% of Salvadorans used Bitcoin for purchases in 2023: Survey bitcoin
I guess the optimistic take would be Gresham's Law taking hold. People are hoarding their bitcoin and spending the depreciating dollar quickly. It would make ísense, since bitcoin's fiat price improved substantially in 2023. That's just speculation, though.
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51 sats \ 1 reply \ @Wumbo OP 17 Jan
I also wondering if people where just "cashing out" after the airdrop in the beginning.
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0 sats \ 0 replies \ @siggy47 17 Jan
I don't know. Lots of cashing out went on in 2022, but I don't know if that would qualify as using bitcoin to buy goods and services in the survey. I'm sure the bear market soured the average Salvadoran on bitcoin, and it will take time to recover from that.
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