> 1) free conversion from btc to usd 2) large discounts for purchases of gasoline using btc 3) no bank account or a credit card needed
I mean... if I'm paying for my gas, I'd rather just put my card in the chip reader instead of getting out my phone/hardware wallet, preparing a transaction with the proper amount of Bitcoin, introducing the transaction to the gas pump, waiting for the transaction to register with the ledger and then leaving. Even if we're talking about a 20% discount here, I'd probably just stick with the debit card. Playing with a crypto wallet was fun for larping as a hacker when I was in middle school, but nowadays I don't think it's worth the trouble (much less the shitshow that is L2 chains).
> In theory, developing nations like El Salvador are ideal candidates for cryptocurrency adoption. More than half its citizens rely exclusively on cash, rather than credit or debit cards. Some 70 percent of households have no bank account and nearly 90 percent do not use mobile banking. A digital payment platform could be a way to make the economy more inclusive and accessible.
Apparently even people without privledge don't really care either, though. Given the option to use cryptocurrency for lower-priced goods, the majority of their country is sticking with traditional payment methods, probably for convenience/familiarity purposes.
Why do you say "probably," do you know? I would guess that it has more to do with technological literacy.
People put effort into saving small amounts all the time, like cutting coupons or going to the cheaper store further down the road. But these things are understandable; using a crypto wallet in a place where most people don't have a history of smartphone use isn't really the same thing.
> I would guess that it has more to do with technological literacy.
Which is why I added the "familiarity" qualifier. Pretty much anyone can barter with cash, and I've watched 7-year-olds buy ice cream with a Visa card. Initiating a Bitcoin transaction though? That requires some setup, even moreso if you have a 'proper' self-custody wallet that you manage yourself.
> using a crypto wallet in a place where most people don't have a history of smartphone use isn't really the same thing.
I agree, I'm afraid you may have misread my sentiment. It's not that there's no motivation to use Bitcoin, the government subsidies are a pretty clear and obvious shot at luring less-fortunate citizens into the world of crypto. My larger point is that the low adoption among their population makes perfect sense to me. Even in a country with maximum digital literacy, I doubt most people would feel motivated to use crypto either.
> Even in a country with maximum digital literacy, I doubt most people would feel motivated to use crypto either.
Not sure we understand each other with this part. I'm arguing that it's about literacy, you're saying people just aren't interested. I think we just disagree.
I mean... if I'm paying for my gas, I'd rather just put my card in the chip reader instead of getting out my phone/hardware wallet, preparing a transaction with the proper amount of Bitcoin, introducing the transaction to the gas pump, waiting for the transaction to register with the ledger and then leaving. Even if we're talking about a 20% discount here, I'd probably just stick with the debit card. Playing with a crypto wallet was fun for larping as a hacker when I was in middle school, but nowadays I don't think it's worth the trouble (much less the shitshow that is L2 chains).