It's not working for the whole nation in El Salvador. Those people there are dependent on remittances from their relatives in the US. Since the incoming remitta

It's not working for the whole nation in El Salvador. Those people there are dependent on remittances from their relatives in the US. Since the incoming remittances are controlled by de facto mafia, they were hoping that bitcoin might be a way to avoid fishy middlemen. However they are exposed to extreme volatility. If your income is so low that you need to rely on relatives abroad, then mere 10% price dip could be deadly for you, suddenly you cannot pay rent, etc. A safer solution for them might be stablecoin transfers on some other quick and cheap chain. It has its own set of downsides and risks, but they might be relatively low compared to huge fx risk of BTC.