It’s as bizarre as the title sounds. A Japanese all-girl band of Bitcoin babes has formed in an effort to educate the public on personal finance and the technology of cryptocurrency.
The Japanese Bitcoin babes that will be informing the world about the magic of cryptocurrency are part of a band called Kasotsuka Shojo, featuring eight singers that each represent a different type of cryptocurrency. In addition to the expected singer Bitcoin, the Bitcoin babes also include Ethereum, Ripple, Cardano and more.
While the group isn’t necessarily a smash hit as of yet, the Bitcoin babes performed at an electro-pop concert in Tokyo in front of dozens of fans and media people packed tightly into a small hall.
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Katsotsuka Shojo means “Virtual Currency Girls” in Japanese, and was recently launched by Cinderella Academy – an entertainment company that also manages several other popular J-pop groups.
In a recent statement, Rara Naruse, the 18-year-old lead singer of these Bitcoin babes representing Bitcoin Cash, said that “[they] want to promote the idea through entertainment that virtual currencies are not just a tool for speculation, but are a wonderful technology that will shape the future.”
The Bitcoin babes of Katsotsuka Shojo are a sight to behold, wearing fuzzy masks, maid dresses with aprons, and knee-high stockings. The group of singers performed several new tunes, including their debut song “The Moon and Virtual Currencies and Me,” a pop song warning listeners to watch out for fraud and protect their online security.
Payment for all tickets and merchandise for the Bitcoin babes of Katsotsuka Shojo is only available through virtual currency, with a recent meet-and-greet event allowing fans to take a picture, shake hands, and chat with one of the performers for the price of 0.001 bitcoin (around $15)
While the idea of a pop group dedicated to spreading word of cryptocurrencies may be bizarre, several fans admitted that the Bitcoin babes gave them “a good introduction” to the idea of these investment opportunities.
The Uncertain Future Of Cryptocurrencies
These Bitcoin babes may serve to give the public in Japan a better idea of the benefits and drawbacks of cryptocurrency – provided they get big enough, of course – but that may not be enough to ensure that the trajectory and utilization of cryptocurrencies continues to climb.
In their current incarnation, Bitcoin and other cryptocurrencies are incredibly volatile investments that can result in a huge profit or a devastating loss. After the massive boom in Bitcoin and other currencies around the end of last year, many new investors flocked to the cryptocurrency scene, only to be devastated by a big crash in the beginning of 2018 that completely wiped out any profits.
Despite these crashes, however, Bitcoin and other currencies are still higher than they’ve ever been before. Occasional crashes on an upward trajectory are to be expected, but unlike traditional stocks that are tied to the performance of a company, there’s no real-world entity that drives the price of these cryptocurrencies. With a lack of any real regulation, the currencies are climbing and dropping very rapidly, making many investors approach these uncharted waters with a good deal of trepidation.
While the Bitcoin babes hail cryptocurrency as the future of finance, there are a lot of problems with implementing widespread use as a regular form of payment at this current point. For one, transaction fees for transferring Bitcoins are incredibly high, pretty much making it a bad idea to use the currency on any low-cost purchase. While KFC has recently advertised the premiere of their “Bitcoin Bucket,” the appeal of using your virtual currency for fried chicken is a lot lower when you realize that a $20 bucket would become $50 after fees.
There’s no doubt, however, that the world of cryptocurrency is here to stay. While Bitcoin may crash and burn, there will always be an alternative to rise up and take its place. It’s difficult to say whether these currencies will ever have value in day-to-day transactions, but the Bitcoin babes are certainly committed to promoting the wonders of cryptocurrency. The endorsement of a J-pop group may not be enough to sway the general public’s opinion, but it’s clear that Katsotsuka Shojo and the company behind them are not alone in their optimism for the future of virtual currency.
It will likely be quite some time before we see whether using Bitcoin to buy your coffee will become as ubiquitous as charging it to a card. Cryptocurrencies, and Bitcoin in particular, have struggled with some opposition from governments that are hesitant to embrace this change. China, for example, is rumored to be releasing regulation that make it more difficult for Bitcoin miners to operate within their borders. The financial regulators in Israel have also hampered the success of Bitcoin within the country, taking an issue with the lack of regulation around this new investment. Let’s hope that the Bitcoin babes’ vision for the future comes to fruition, rather than a market crash that puts cryptocurrencies into obsolescence.