Young Lebanese driving crypto 'revolution' after banks go bust

submitted by /u/Phreesion [link] [comments]

I am an El Salvadorean living in the USA and I want to send BTC to my mother

How do I obtain the BTC? Where do I get them from? What sort of AML/KYC do I have to go through to use the service that sells me BTC? Does my USA bank allow me to use this service? Does the service allow me to easily transfer BTC from the service to my own wallet? How much does the service charge to convert dollars into BTC?

EDIT: No one here is mentioning anything that anyone who has been involved with BTC for a while does not know. The key to having BTC replace WU for remittances is that it be cheaper, as easy or easier and safe.

Face-to-face purchasing of BTC is not easier or safer than WU.

Buying BTC from Gemini using your bank account and transferring out of Gemini is probably better than using WU in all ways, as long as banks and Gemini allow this. I am not convinced that this will continue in the future.

One important thought: Even if buying BTC face-to-face is less safe for the buyer, the receiver, being a little old lady, now is much safer because she never has to deal with cash and this might be a powerful incentive for an El Salvadorean in the USA to remit BTC no matter how inconvenient it is for him, because the risk is put on his shoulders rather than those of his mother or grandmother.

I sure would like to hear stories of LOLs starting to use BTC in ES. I remain unconvinced that this is occurring yet.

submitted by /u/TombStoneFaro
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Open letter to all tourism based economies looking to revive their economy.

Maldives, Carribean Islands, Macao, Seychelles, Fiji, Thailand, Dubai.

These are just some of the economies that have been hit hardest by border closures.

At the same time many regular people around the world have lost jobs and if they managed to keep their job inflation is currently erroding the amount of money they have available to spend on tourism. Bitcoin and crypto holders however have seen their networth increase 15x (1,500%) since March 2020.

Because of this bitcoin holders have become a desired tourism cohort that countries want to attract because they have money to spend.

Bitcoiners love travel but they dislike banks. Therefore the only thing countries need to do to attract bitcoiners to their shore is to make it easy for them to travel without needing a bank or bank card.

Bitcoiners want to be able to travel to a destination with nothing but a crypto wallet, they do not want to rely on any form of bank or bank card.

In cash based societies like Thailand this can be easily achieved by making every ATM also accept bitcoin for cash without any identity requirements. In the same way I can walk up to an ATM with a card and get cash I should be able to walk up to an ATM with a bitcoin wallet and get cash. This one change would make Thailand extremely desirable to bitcoin tourists.

In resort based societies like the Maldives all that needs to happen is to allow for hotel bills to be settled with bitcoin. So allow hotels to accept bitcoin as legal tender and help provide them with exchange services to allow this.

In advanced societies like Dubai making bitcoin legal tender and following similar steps to El Salvador would be the way to go. The department of technology could develop a lightning point of sale app for use by businesses where sats are converted to AED dirhams and deposited into a specified bank account.

These are some simple steps each of these types of economies could take in order to leverage 2022 and 2023 as a way to out compete all other tourism destinations and attract the now 200 million bitcoin holders around the world who have new found riches to spend.

It really is simple. Create an environment that allows people to travel to and enjoy your country with nothing but a bitcoin wallet, no banks or bank cards needed at all.

submitted by /u/slvbtc
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Bears vs. Bulls

submitted by /u/Pitiful_Literature_7 [link] [comments]

Salvador's Bitcoin Fund bought an additional 100 BTC

Given the new investment, there are 1220 BTC on the balance sheet of the state fund (about $ 67.3 million at the rate at the time of writing). “100 additional coins were bought at a discount,” wrote Bukele. https://preview.redd.it/ygbdj25548281.jpg?width=700&format=pjpg&auto=webp&s=0752b9c04a3ff0226cd455121e1a2f5a49add2bb submitted by /u/mirmirov1984 [link] [comments]

EXCLUSIVE: Rare Interview Footage of Hillary Speaking About Bitcoin

submitted by /u/smeggletoot [link] [comments]

If Bitcoin can be compared to 'digital gold'. Can currencies be backed by Bitcoin?

My understanding of Bitcoin is that it is a digital asset, much like physical gold.

If that is the case, Much like how currencies used to be backed by gold reserves. If you held enough Bitcoin, could you create a new currency back by Bitcoin?

I presume it would be highly volatile, but it'll be pretty cool!

submitted by /u/KvN161
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