Quick recap; the Salvadoran Colon currency failed due to inflation, then they switched to the US Dollar and then they added Bitcoin as legal tender in 2021. El Salvador’s new Bitcoin law requires every trader who is technically able to do so to accept the cryptocurrency. People are also able to pay their taxes in…
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Bitcoin is the disruptive third wave of Fintech: Wave 1 was adding a better front end UX to legacy systems, with a natural exit to legacy finance for not big sums. Wave 2 was a full stack regulated threat to legacy finance. Once again the natural exit was to legacy finance, but for much bigger sums than…
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At the end of March, Vitalik Buterin in an interview with Time Magazine specifically voiced his concerns about the market’s large amount of Ponzi-scheme Defi and NFT protocols and how they’ve hijacked the Ethereum platform and have driven fees sky high. People’s interest in crypto has skyrocketed among investors and in popular culture, thanks to…
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I think there will be two poles in a multipolar world based on two spheres of influence – the Chinese and American spheres. That is putting it in old fashioned nationalist terms. Another way it is being framed by America is freedom/democracy vs autocracy. China will frame it differently as wealth distribution vs wealth inequality.…
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The phenomenon of bitcoin casinos has been fascinating. With the rise of bitcoin, it is no wonder that bitcoin is accepted as a form of currency in these casinos. Cryptocurrency casinos are the new way to gamble online. With bitcoin, you can be sure that your money is safe and secure. You can also enjoy…
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No single contender looks like an obvious fit: USA/USD is current reserve currency but no reserve currency lasts forever. Europe/EU is a weird mix of independent countries and a single currency. China/CNY is the emerging economic power but their currency is not fully convertible yet and not trusted in many parts of the world. This…
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Bitcoin’s Lightning Network (LN) was the talk of the town this past week. Watching some of the videos from the Bitcoin 2022 conference in Miami, what stood out was that a string of companies, including Robinhood, Cash App, and Strike, unveiled support and expanded uses for the Lightning Network at the conference. Ilias Louis Hatzis…
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I believe that the future of Bitcoin will be written in El Salvador. That is why we have dedicated a 4-parter to Bitcoin in El Salvador in the past. If Bitcoin is a success for El Salvador’s people, many other countries will follow their lead. The stakes are now very high with Bitcoin becoming a…
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Over the years, bitcoin has gone from fringe to mainstream. Once the playground for diehard developers, it has become a major topic of conversation for governments, big tech, and banks who are looking to position themselves to make a land grab. Since the dawn of bitcoin, there’s been a power struggle between the old and…
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Way back in 2014 (when Daily Fintech was born, Bitcoin was in a bear market (priced around $500) and the last time Putin ordered an invasion of Ukraine) I wrote My explorations down the Bitcoin rabbit hole. Although this is old analysis it is still relevant today and other people who are on the same…
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