Understand the implications of Bitcoin's downfall in El Salvador. Learn about the failed economic bet and its impact on the country's financial stability.
The experiment was whether or not they could be independent monetarily. Not whether or not blockchain works. But whether, in actual practice, if it could provide the monetary independence some people claim it has the power to do.
Outside influences were strong enough to overwhelm Bitcoin adoption and it succumbed to those outside influences. As an experiment seeking to test whether or not Bitcoin could resist these influences it failed.
This is how experimentation works. Now you can tweak your experiment and try again, but acting like failing at the exact thing you were trying to accomplish is somehow not an experimental failure is just delusional.
So they experimented with resisting the US and IMF and it was not successful.
We call that an experimental failure.
You really don’t get it. “Blockchain” was not the experiment. “Utilizing blockchain in the global economy” was the experiment.
And it failed.
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Again, for the people in the back:
The experiment was whether or not they could be independent monetarily. Not whether or not blockchain works. But whether, in actual practice, if it could provide the monetary independence some people claim it has the power to do.
Outside influences were strong enough to overwhelm Bitcoin adoption and it succumbed to those outside influences. As an experiment seeking to test whether or not Bitcoin could resist these influences it failed.
This is how experimentation works. Now you can tweak your experiment and try again, but acting like failing at the exact thing you were trying to accomplish is somehow not an experimental failure is just delusional.