00:00Hey, hey, hey. Did you see this, P-Chan? The world's grandest social experiment just
00:04announced its massive failure. El Salvador's adoption of Bitcoin as legal tender has finally
00:08raised the white flag. Oh, you mean that stunt pulled by that shady president? I knew it would
00:13come to this eventually. Are you telling me 90% of the population has never even used Bitcoin once?
00:18It's almost comical. Right? He claimed he'd save the 70% of citizens without bank accounts using
00:24digital currency. And after all that talk, nobody is actually using it. What a joke.
00:28They say 60% of the people who received the $30 worth of Bitcoin from the government just cashed
00:33it out immediately. Well, obviously. Who would use a currency to buy today's bread when its value
00:38might drop by half tomorrow? The supposed benefit of cheaper international remittance fees pales in
00:43comparison to the risk of price volatility. Exactly. Making citizens of a country that
00:47relies on remittances for nearly 20% of its GDP participate in such a gamble is just cruel.
00:52Besides, the IMF warned them repeatedly not to do it, and they ignored them. This is the result.
00:57That president of theirs certainly has an inflated ego, doesn't he? In the end,
01:01the IMF had to strictly warn them to stop buying more Bitcoin as a condition for receiving a loan.
01:06It's so pathetic. And what about that Bitcoin city plan? Mining it using geothermal energy from
01:12volcanoes? What happened to that? They were talking about this grand dream, but it seems to have
01:16completely fizzled out with the Bitcoin crash. Dreaming is free, but I wish you wouldn't drag the
01:21citizens into it. So starting January 2025, paying in Bitcoin becomes optional, and businesses can
01:26refuse to accept it, right? You got it. It's a de facto withdrawal of its legal tender status.
01:31This world-first attempt came to an end in just over three years. What a colossal waste of money.
01:37But I heard they are still holding on to their Bitcoin. They never learn, do they? They even set
01:41up a Bitcoin office. It seems they haven't given up yet. Their last shred of pride, maybe? Well, if the
01:47Bitcoin they hold suddenly skyrockets, I bet they'll flip the script and say, see, I told you so.
01:52I can already picture it. But gambling a country's future on something like that makes him a failure
01:57as a leader. Well, it's got nothing to do with us. Let's just sit back and watch the show, P
02:01-Chan.
コメント