{"id":12672,"date":"2025-02-12T13:02:57","date_gmt":"2025-02-12T13:02:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12672"},"modified":"2025-02-12T13:02:57","modified_gmt":"2025-02-12T13:02:57","slug":"el-salvador-proved-bitcoin-is-not-destined-to-be-money-analyst-says","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12672","title":{"rendered":"El Salvador Proved &#8216;Bitcoin Is Not Destined To Be Money,&#8217; Analyst Says"},"content":{"rendered":"<div>\n<p>El Salvador\u2019s attempt to embrace <strong>Bitcoin <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) as legal tender has conclusively proven that the cryptocurrency is not <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/01\/42973241\/will-el-salvador-install-bitcoin-nodes-in-every-household\">viable as a widespread payment system<\/a>, according to an analysis by <strong>John Paul Koning<\/strong>. <\/p>\n<p><strong>What Happened: <\/strong>Even with government support, adoption sputtered, Koning <a href=\"https:\/\/jpkoning.blogspot.com\/2025\/02\/the-end-of-el-salvadors-bitcoin.html\">stated<\/a> in a blog post.<\/p>\n<p>Bitcoin\u2019s inherent volatility and impracticality render it unsuitable for everyday transactions, dimming any hopes of it becoming a widely-used form of electronic cash.<\/p>\n<p>&#8220;El Salvador&#8217;s four-year Bitcoin experiment definitively proved that Bitcoin is not destined to be money,&#8221; Koning wrote. &#8220;Even with government mandates, subsidies, and the elimination of tax barriers, Bitcoin payments never gained traction.&#8221;<\/p>\n<p>El Salvador made Bitcoin legal tender in 2021, requiring businesses to accept it and offering incentives such as zero capital gains tax and fee-free transactions. <\/p>\n<p>The initiative was meant to increase financial inclusion and lower remittance costs. <\/p>\n<p>However, according to data from El Salvador&#8217;s central bank, the percentage of total remittances sent via Bitcoin &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/02\/43654402\/el-salvador-proved-bitcoin-is-not-destined-to-be-money-analyst-says\" alt=\"El\" salvador proved is not destined to be money analyst says>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador\u2019s attempt to embrace Bitcoin (CRYPTO: BTC) as legal tender has conclusively proven that the cryptocurrency is not viable as a widespread payment system, according to an analysis by John Paul Koning. What Happened: Even with government support, adoption sputtered, Koning stated in a blog post. Bitcoin\u2019s inherent volatility and impracticality render it unsuitable [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12672","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12672"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12672\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}