So, as of today, all prices are still denominated in US dollars. When people are paid in Bitcoin, I don't know what they do with it. With the local Chivo wallet, they can choose to keep Bitcoins or automatically convert these Bitcoins to US dollars. So in practice, for many Salvadoran users, Bitcoin is just the payment rail to pay and be paid in US dollars (it's like Paypal, running on the Bitcoin infrastructure). In that case, they do not experience the volatility. However, I met some Salvadorans who keep money in Bitcoin. They say that it is a long-term investment, and they do not care about short-term volatility.
When you say you can pay with bitcoins, in what currency prices are given? How is experienced the volatility of BTC/$ ratio?
So, as of today, all prices are still denominated in US dollars. When people are paid in Bitcoin, I don't know what they do with it. With the local Chivo wallet, they can choose to keep Bitcoins or automatically convert these Bitcoins to US dollars. So in practice, for many Salvadoran users, Bitcoin is just the payment rail to pay and be paid in US dollars (it's like Paypal, running on the Bitcoin infrastructure). In that case, they do not experience the volatility. However, I met some Salvadorans who keep money in Bitcoin. They say that it is a long-term investment, and they do not care about short-term volatility.