Crypto forum mocks proposed PSOE cryptocurrency with satirical names

The PSOE cryptocurrency: from 'paguitacoin' to 'chiringuitocoin'

The news has been circulating for days: the PSOE (Spanish Socialist Workers' Party) is considering launching its own cryptocurrency. There is no official name, no date, and no formal document—only rumors. Alongside the rumors, a flood of names has emerged, ranging from jokes to political critiques. The discussion, held in a cryptocurrency subforum, has accumulated over a hundred replies and a clear pattern: almost no one believes the currency will serve any purpose other than paying in a unit that is worthless. «The name is irrelevant», summarizes one of the most repeated messages: the joke, they argue, is that it will be a fraud, and by the time people realize it, they won't be able to withdraw a single cent.

From 'paguitacoin' to 'chiringuitocoin': the full catalog

The repertoire of names acts as a thermometer of public anger. Some appeal to subsidies: paguitacoin, bitpaguitas. Others point to the party apparatus: chiringuitocoin, comucoin, coimacoin. Some target specific ministers: alopécicocoin, irecoin, leirecoin. Others play with the president's surname: falcoin, falcolink, perrochanchez coin. And some abandon all subtlety: ruinacoin, robocoin, carcelcoin, trincoin, furanturcoin—Latin for 'thief'—and cleptodivisa (cleptocurrency).

There is a more creative vein. Someone proposes sintetix bolivar, sociswap, ábalos fatswap, indulto yearn finance, unstable coin, dogechenicoin, chepa rat, binancy marlasca. It is a parody of the real crypto ecosystem, using terms like yearn, swap, and binance, but applied to the ecosystem of the BOE (Bank of Spain). The joke is not just linguistic: it is a thesis on what the government's economic policy resembles.

The economic argument: paying in a zero-value currency

The core of the analysis is not the name, but the strategy. One message puts it precisely: «you pay pensions with your shit currency that is worth 0, and you call anyone who wants to be paid in euros a fascist to save on that expense». The idea, repeated in various forms, is that a state cryptocurrency would allow the government to meet obligations—pensions, public salaries—using a unit it issues itself, while affiliated companies and European agencies continue to be paid in euros. The result, according to this view, would be a two-estimulante ilegal digital peseta: one for the citizen, and another for the political apparatus.

Another message brings it into the realm of classical monetary theory: «1000 charos = 1 psote. 1000 psotes = 1 pedrón». The pedrón, minted in gold and reserved for the elite, would be the strong unit; the charo (a slang term for a certain type of citizen), equivalent to a handful of rice, would be the unit for the minimum wage. Hyperinflation used as a joke, but with an internal logic recognized by anyone who has lived in a country with a split currency.

Is it a cryptocurrency or a 'cleptodivisa'?

Technical discussion appears, albeit in the margins. Someone nuances: «it won't be a cryptocurrency, it will be the cleptodivisa». Another recalls the debate of 'Euro A' and 'Euro B'—the idea that two different euros circulate depending on who uses them—and applies it to the digital realm: moving away from the digital euro to return to a digital peseta. The implicit conclusion is that blockchain technology is secondary; what matters is who controls the issuance and who can convert it into hard currency.

There is a current that directly refuses to engage with the naming game. «What does the name matter, if it's only going to be a vehicle to rob you of everything possible?». This is the most cynical stance and, judging by the replies, the most shared. The name is the joke; the substance is the suspicion.

Closing: a currency without a date, a document, or a buyer

In the end, the matter remains exactly where it started: an unconfirmed rumor, a catalog of nameless suggestions, and a suspicion that no one has debunked. The PSOE's cryptocurrency does not yet have an issuer, a market value, or a launch date. It does, however, have an unofficial name already circulating: paguitacoin. And a question left open by the debate itself: if the State can pay pensions in a currency it creates itself, who will accept to be paid in it?