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El Salvador introduces bitcoin, ‘anxiety and anxiety’… President is a solver mode

Real-time sharing of app status on Twitter by President Bukele… “Tomorrow will be better”

Bitcoin-only checkout counter at Starbucks store in El Salvador

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(Mexico City = Yonhap News) Correspondent Mi-hye Ko = After El Salvador’s adoption of Bitcoin’s legal currency scrambled from the first day, the president is trying to appease the people’s anxiety and successfully settle Bitcoin.

On the morning of the 8th (local time), President Naive Bukele tweeted, “(Bitcoin electronic wallet application) ‘Chibo’ has been repaired.

President Bukele also advised that if the app still says ‘repairing’, close the app and then run it again.

It was more of an application manager than a president.

President Bukele said on Twitter that even close to midnight the previous day, he would stop using the app from 1 to 6 a.m. on the 8th to solve the problem of Chibo, “I expect that tomorrow will be much better.”

El Salvador, Central America, has recognized the virtual currency Bitcoin as a legal currency since the day before with the strong will of President Bukele. Along with the US dollar, the common currency of El Salvador, Bitcoin has also become ‘real money’, the first case in the world.

President Bukele called himself a ‘Bitcoin Evangelist’ and encouraged people to use Bitcoin every day, but the first day of its introduction was chaos.

El Salvador protesters holding signs against Bitcoin and President Bukele
El Salvador protesters holding signs against Bitcoin and President Bukele

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The Chibo app was dead, the recent anti-Bitcoin protests intensified, and the bitcoin price plummeted 10% the day before.

President Bukele was also busy.

He explained the Chibo error in dozens of tweets the day before and shared the status of the Chibo app download. In addition, he did not forget to retweet the experiences of ordinary people with bitcoin payments or the messages of bitcoin advocates.

The 40-year-old ‘populist’ President Bukele, who has been on the rise since his inauguration, is criticized by the opposition and the international community for bloating the president’s authority and suppressing human rights, but he maintains a high approval rating within his country.

Despite many noises on the first day of Bitcoin legalization, the Cibo app ranked first in the number of downloads in the El Salvador App Store on that day, Reuters reported.

The El Salvador government has announced that it will pay $30 worth of Bitcoin to users who download Cibo and register for the first time.

Global chains such as McDonald’s and Starbucks have also started accepting bitcoin payments.

A related law passed in June stipulates that businesses cannot refuse to pay with Bitcoin, but it is still unclear whether this will be enforced, as the president later said that the use or acceptance of Bitcoin was not mandatory.

mihye@yna.co.kr