分析發現，薩爾瓦多的比特幣實驗證明了加密貨幣注定是金錢。

即使在政府的支持下，收養也被吐了個，約翰·保羅·康寧（John Paul Koning）在博客文章中說。比特幣的固有波動和不切實際性使其不適合日常交易，使其成為廣泛使用的電子現金形式的任何希望。

El Salvador's adoption of Bitcoin (CRYPTO: BTC) as legal tender has ultimately shown that the cryptocurrency is not viable as a widespread payment system, according to an analysis by John Paul Koning.

根據約翰·保羅·科寧（John Paul Koning）的分析，薩爾瓦多（El Salvador）採用比特幣（Crypto：BTC）作為法定招標最終表明，加密貨幣不可行，作為廣泛的支付系統。

Even with government support, adoption sputtered, Koning stated in a blog post. Bitcoin's inherent volatility and impracticality make it unsuitable for everyday transactions, dimming any hopes of it becoming a widely-used form of electronic cash.

即使在政府的支持下，收養也被濺出了，Koning在博客文章中說。比特幣的固有波動性和不切實際性使其不適合日常交易，使其成為廣泛使用的電子現金形式的任何希望。

"El Salvador's four-year Bitcoin experiment definitively proved that Bitcoin is not destined to be money," Koning wrote. "Even with government mandates, subsidies, and the elimination of tax barriers, Bitcoin payments never gained traction."

康寧寫道：“薩爾瓦多的四年比特幣實驗明確證明了比特幣注定是金錢。” “即使政府授權，補貼和消除稅收障礙，比特幣的支付也從未獲得關注。”

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. The initiative was meant to increase financial inclusion and lower remittance costs.

薩爾瓦多（El Salvador）在2021年制定了比特幣法律貨幣，要求企業接受它，並提供諸如零資本利得稅和免費交易之類的激勵措施。該計劃旨在增加金融包容性和降低匯款成本。

However, according to data from El Salvador's central bank, the percentage of total remittances sent via Bitcoin wallets peaked at 4.5% before declining to just 0.87% by late 2024.

但是，根據薩爾瓦多中央銀行的數據，通過比特幣錢包發送的總匯款百分比為4.5％，然後到2024年末下降到僅為0.87％。

Survey data further supports the lack of adoption. A study by economists Alvarez, Argente, and Van Patten found that while over half of Salvadoran adults downloaded the government-backed Chivo wallet, most abandoned it after receiving their $30 Bitcoin bonus. The median user reported no Bitcoin transactions in a typical month.

調查數據進一步支持缺乏採用。經濟學家阿爾瓦雷斯（Alvarez），阿根廷（Argente）和範·帕滕（Van Patten）的一項研究發現，儘管超過一半的薩爾瓦多成年人下載了政府支持的chivo錢包，但大多數人在獲得了30美元的比特幣獎金後放棄了它。中位用戶在典型的一個月內報告沒有比特幣交易。

"For Bitcoin to function as money, it needs a circular economy — businesses accepting it and consumers spending it," Koning noted. "But businesses that accepted Bitcoin overwhelmingly converted it to dollars, and consumers rarely used it for transactions."

康寧指出：“要使比特幣作為金錢運作，它需要一個循環經濟 - 企業接受它，消費者花費它。” “但是接受比特幣的企業壓倒性地將其轉換為美元，消費者很少將其用於交易。”

A separate survey by José Simeón Cañas Central American University showed that Bitcoin usage for payments in El Salvador fell from 25.7% in 2021 to just 8.1% by 2024. Among that 8.1%, most used Bitcoin only once or twice a year, with only 1 in 200 Salvadorans making Bitcoin payments on a weekly basis.

何塞·西米恩·卡納斯（JoséSimeónCañas）中美洲大學的另一項調查顯示，薩爾瓦多（El Salvador）付款的比特幣使用率從2021年的25.7％下降到到2024年的8.1％。在8.1％中，大多數使用的比特幣每年只有1次，只有1個。在200個薩爾瓦多人中，每週進行比特幣付款。

Koning attributes Bitcoin's failure as a payments tool to its intrinsic volatility, arguing that both risk-averse and risk-seeking users have little incentive to spend it. "Risk-averse individuals avoid Bitcoin because of its price swings, while speculators hold it expecting future gains. The end result is that no one actually uses it for payments," he wrote.

Koning將比特幣作為付款工具的失敗歸因於其內在波動性，認為比特幣的付款工具都認為，規避風險和尋求風險的用戶幾乎沒有動力花費它。他寫道：“避開風險的人由於價格波動而避免了比特幣，而投機者則認為未來會收益。最終結果是沒有人實際上將其用於付款。”

El Salvador ultimately repealed its Bitcoin mandate in early 2025, partly due to pressure from the International Monetary Fund, but Koning argues that Bitcoin's failure as a payments tool was evident long before that.

埃爾·薩爾瓦多（El Salvador）最終在2025年初廢除了其比特幣授權，部分原因是國際貨幣基金組織的壓力，但康寧（Koning）認為，比特幣作為付款工具的失敗在此之前就已經很明顯了。

"The saddest thing about El Salvador's Bitcoin experiment is the wasted resources — funds that could have been used for healthcare and education instead went into an unusable payments system," he wrote.

他寫道：“關於薩爾瓦多比特幣實驗的最可悲的事情是浪費的資源 - 本來可以用於醫療保健和教育的資金，而是進入了無法使用的支付系統。”

Koning sees El Salvador's experience as conclusive proof that Bitcoin will never function as everyday electronic cash.

Koning認為El Salvador的經驗是比特幣永遠不會充當日常電子現金的最終證據。

"A government spent four years actively pushing Bitcoin as a payment method, and it still failed. The lesson here: Bitcoin is a bad payments tool and will never become widely-used electronic cash. It's time to move on."

“政府花了四年的時間積極將比特幣作為付款方式，但仍然失敗了。這裡的教訓：比特幣是一種不良的付款工具，永遠不會成為廣泛使用的電子現金。現在該繼續前進了。”