Bitcoin Reserve (BTC) in El Salvador has had a limited impact on the broader population, and the country’s loan agreement with the International Monetary Fund (IMF) may increase the Bitcoin strategy, according to Quinin Erinman, general manager at the first Bitcoin, a non -governmental organization (GTO) that focuses on Bitcoin.
Erinman told Reuters that the abolition of the laws of Bitcoin’s legal bids under the International Monetary Fund agreement has established a vacuum in the public education initiatives in BTC or the state -led adoption initiatives. In a translator statement, he told The News Outlet:
“Since the government entered this contract with the International Monetary Fund, Bitcoin is no longer a legal tender, and we have not seen any other effort to educate people. It seems that the government continues to collect bitcoin, which is useful for the government – it’s not good directly to people.”
The Central American country also agreed not to purchase a new BTC under the agreement, the details that were confirmed in the recent International Monetary Fund report, which contradicts Bitcoin claims in El Salvador that the country is accumulating BTC Daily.
The Legislative Authority in El Salvador in the public sector in Bitcoin fell in January to remain compatible with the International Monetary Fund loan deal, which sparked a discussion on whether the Bitcoin experience in the country ended in failure.
Related to: The International Monetary Fund says El Salvador has not buys Bitcoin since the signing of a loan deal
Cointelegraph gets al -Salvadori
In 2023, Cointelegraph visited Al Salvador to get a journalistic precedent on how to use Bitcoin daily companies.
Use Joe Hall Bitcoin to pay for his stay for his descent using IBEX Pay, a payment company that facilitates BTC traders via Bitcoin Lightning.
https://www.youtube.com/watch?
The lightning network is used to send Bitcoin almost immediately and is more suitable for small daily purchases such as a cup of coffee or a meal in a restaurant.
“It is faster than a credit card,” the Youth House employee, who accepts the bitcoin lightning batch, told the reporter.
Nevertheless, the lack of education was a hindrance to adoption on a large scale for Bitcoin in El Salvador, according to the correspondent, who had to show the youth of the Youth House how to accept a boost on the lightning network.
magazine: What actually seems to use bitcoin in El Salvador
