Many people will be unprepared for Bitcoin’s volatility. Worse yet, some people may lose a lot of money trading. Without properly teaching people about Bitcoin, this could end in disaster. Imagine the excitement if Bitcoin goes up. We will see many people converting all their money into it. Then, the price starts to fall, and they all panic and sell.
The app itself needs to be user-friendly. Some people may lose their money by accidentally sending their Bitcoin to a non-existent address. Others might lose their phone and require password recovery. Most people have terrible privacy and security hygiene. Without the proper care in place, people will screw up and lose their money.
There’s also a large group of the country’s citizens that oppose the law. Oscar Artero is a plaintiff suing against this law. He believes that the law will harm the country, making it easier to evade taxes. The case is going to be heard in the country’s top judicial branch. In the past, Bukele’s party hasn’t played fair with their Supreme Court.
