Salvadorans Protest Against Bitcoin on Independence Day By DailyCoin
- President Nayib Bukele’s announcements about overcoming the technical problems of the ‘Chivo Wallet’ network and the installation of ATMs in El Salvador and the US were greeted by his critics with protest marches.
- He assured 95% that technical issues with Chivo Wallet had been fixed.
The president of El Salvador Nayib Bukele announced that the Bitcoin ‘Chivo Wallet’ exceeded 500,000 users this week, while opening cryptocurrency ATMs in the United States. The announcement was made on the eve of El Salvador’s Independence Day, which was celebrated on Wednesday.
Instead of being applauded, however, the Central American president was met with bitter protests by thousands of Salvadorans, who marched through San Salvador’s streets.
“We currently have over half a million users (of the Chivo wallet),”
Bukele wrote on Twitter (NYSE:). El Salvador, the world’s first nation to recognize Bitcoin as legal tender, announced this just one week following the Bitcoin law was implemented.
Bukele said that Bitcoin is a way to help the slowing economy. In addition, he wants to ease the payment of millionaire remittances from Salvadorans abroad. He is particularly interested in the US because El Salvadorian officials have installed 50 ATMs across the country.
Apart from the 200 ATMs distributed in various parts of El Salvador, Bukele said that the ATMs installed in the US “work perfectly.” He also reported that they are already available in several US cities: Atlanta, San Francisco, El Doral, Chicago, McAllen, Houston, Dallas, El Paso and Laredo.
“In the United States we have Chivo ATMs (which can be used to recharge the wallet without paying commissions) where local legislation allows it,”
explained the controversial president.
In one of his tweets, the president assured that “The technical errors of @chivowallet are 95% corrected” and that “In the next few days it will be working at 100%”. BTC was launched in El Salvador the same day as the collapse of the network and its disconnection by the government forced it to cease operations.
On The Flipside
- Bukele’s move with Bitcoin has become a challenge for the president’s opponents and a turning point for broad sectors of the country who do or do not understand or what BTC is and reject the government’s measure.
- “A symbol of Bukele burns. They set fire to the Chivo de Bitcoins ATM in the center of San Salvador,” wrote the correspondent of the Spanish newspaper El País Jacobo García, which covers the Central American region, on his Twitter account.
Why you Should Care
This Wednesday was the 200th anniversary since the Spanish crown seized the Salvadoran territories. Along with President Bukele thousands celebrated the home date.
Some people took this opportunity to assert their rights before the government. The newspaper La Prensa Gráfica wrote that “Salvadorans marched against Bitcoin, militarization, high indebtedness, presidential re-election” and the concentration of power.
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