Cameron Bailey, Author at tridEX

4th July 2021

Virtual Real Estate Takes Off With Backing From Billionaire Mike Novogratz

The virtual real estate market is taking off. Crypto billionaire and investor Mike Novogratz’s venture capitalist firm Galaxy Interactive is making a substantial investment in virtual real estate developer Republic Realm. The deal was announced in a Reuter exclusive, but terms were not disclosed at this time.

Digital real estate receiving this vote of confidence in the form of a sizeable investment from Novogratz’s VC firm bodes well for the growing industry. Despite owning many digital companies itself, Galaxy Interactive is in the portfolio of companies owned by Galaxy Digital which Novogratz is the CEO of. Galaxy Digital is a leader in the world of digital asset investing.

Recently, Republic Realm had a 10 million dollar funding but the investment from Galaxy Interactive is separate from that one. Two weeks ago, Republic Realm also made headlines when it bought a plot of virtual land for nearly 1 million dollars. With investment and innovation like this on the blockchain, they are sure to continue pushing the boundaries of what digital assets are and how they can be used.

How Blockchain And Virtual Real Estate Merge

As a virtual real estate developer, Republic Realm buys real estate in digital worlds and develops that digital land with a team of game designers and 3D imagers. Digital stores can be rented out to tenants who sell NFT’s and other digital assets. Plus, people can hold virtual events or meetings in these spaces as well.

Their main mall right now is Metajuku, located in a virtual world called Decentraland. Decentraland is run on the DAO network. Janine Yorio Managing Director at Republic Realm makes a good point in stating,

Real world shopping malls are sitting half empty as stores move more business online. Meanwhile, elaborate virtual malls are being built in the metaverse, a nascent industry called ‘de-commerce.

In a different ad on Republic Realm’s website for a virtual villa and private island digital world coming soon:

Your private island can serve as a backdrop to your digital identity, opening digital doors for you and creating the online life you dream about living.

Of course, in these digital worlds cryptocurrencies will be the main mode for transactions. Additionally, stores, digital land, and digital goods purchased in these virtual worlds will be held on the blockchain and in users crypto wallet’s.

Will Virtual Real Estate Move Crypto Prices?

Right now, big news from the virtual real estate world will probably not move cryptocurrency prices in a significant way. However, that could change in short order. As more virtual worlds are created and more people participate in those virtual worlds, the prices of digital assets, digital land, and any crypto associated with those assets will go up.

Despite BTC and the crypto market in general holding steady after its recent downtrend, this is a major vote of confidence for blockchain technology from a VC with big money to spend. They see the future of virtual cities and worlds all run on by blockchain technology.

Featured Photo by Joshua Sortino on Unsplash

2nd July 2021

New Litecoin All Time Highs Are Still In The Cards

After a week of trending upwards, Litecoin could finally be poised to rally above the $160 target. The coin traded at or above that number for nearly half the year. From the beginning of February until the middle of June, LTC was on a bull run until the entire market’s fall last month.

But, traders around the crypto world are bullish on the coin and its future. Especially considering Litecoin’s ability to make blockchain transactions faster, and more efficient.

One pseudo anonymous trader on twitter, is optimistic that Litecoin will see a rebound to all time highs in the coming months based on fractals. He stated in a tweet yesterday,

Seeing a lot of people saying $LTC had its “bull run” and it’s headed to the grave. I don’t trade fractals, but I do think we will see something similar to what we saw in 2017 on the left. Not just for $LTC but for much of the “old guard”. Still think new ATH is on the cards. pic.twitter.com/g9YUyvJ90P

— CrediBULL Crypto (@CredibleCrypto) June 30, 2021

Litecoin Fractals

Source: Trading View

Related Reading | Ethereum Classic Surges As Crypto Market Recovers

Trading fractals can be very difficult to judge especially with assets like crypto that have not been around for quite as long as traditional stocks so therefore have less plot points for investors to use. However, all analysts can do is use the data available.

For Litecoin, in October of 2017 there was a large drop of 67% in price. Right after that, the crypto took off to all time highs to date. Now, in June of 2021 analysts are seeing that LTC had a 74% drop in price. Could this distinct drop be the trigger for it to take off again to prices yet unseen? Only the next few weeks can tell but with the market overall potentially reaching its floor in the past few weeks, Litecoin could certainly be on the verge of taking off again.

Beyond just Litecoin taking off, the analyst seems to think other crypto is poised to rise as well. The “old guard,” mentioned in the tweet is probably referring to Bitcoin and other early blockchain or crypto projects, and the analyst seems to think this fractal could mean these other cryptocurrencies will go on a bull run similar to Litecoin in the coming weeks.

Can Litecoin Continue Trends From The Past Week?

It remains to be seen whether Litecoin will continue the bull trends from last week. But, if the fractals shown are correct, we may see another surge in the price of LTC as well as other cryptocurrencies.

With a faster block time and very low transactions fees, Litecoin is perfect for micro transactions and point of sale systems.

Featured Photo by Executium on Unsplash

30th June 2021

Blockchain Caucus Co-Chair: Government Needs The Ability To Reverse Transactions

As blockchain technology becomes more applicable to business and its uses continue to grow, investors are curious as to how the US will regulate crypto. Influential figures at the highest levels of the United States government are finally beginning to discuss cryptocurrencies, blockchain tech, digital assets, and how to regulate and tax those assets.

On Tuesday in a “Cryptocurrency Goes Mainstream” virtual event from Axios focused on the future of cryptocurrency policy and regulation, Democratic Representative Bill Foster from Illinois, and co-chair of the blockchain caucus stated,

You have to be able to go to a court to unmask participants under some circumstances,

I’ve just said about three things there that will drive the crypto purists berserk, like the trusted third party and so on. But in fact, there’s not a technological alternative that I’m aware of. For most people if they’re going to have a big part of their net worth tied up in crypto assets, they’re going to want to have that security blanket of a trusted third party that can solve the problem

(Crypto must be) pseudo anonymous, so the regulators can see

Total crypto market cap from TradingView.com

Crypto market cap trends low amid news of regulations | Source: Crypto Total Market Cap on TradingView.com

Representative Foster is, of course, voicing legitimate concerns for everyday investors worried about how transactions are locked into the blockchain with regard to security. Especially considering the recent uptick in ransomware attacks in the US. In that sense, safeguarding investments is of the utmost importance for blockchain technology as it continues to grow and on top of the minds of those drafting legislation on crypto.

Foster later proposes that a court could unlock a crypto user’s identity with a guarded key of some sort. Indeed, for cryptocurrencies to become fully adopted by the mainstream, they will eventually be regulated by the governments where they operate. And in some cases, may have to be less anonymous than users would like

Yet with any decentralized financial system, the point of that system is to stay away from regulation. Let the code run itself. The US and anyone else looking to control crypto will have to strike a fine balance between regulation and the decentralized financial liberation that blockchain inherently is.

How Will This Effect Crypto Prices?

News of new regulations will always scare first-generation crypto investors. Especially since the ability to not be regulated by a single entity is one of the reasons blockchain technology was invented.

But in fact, any news is good news and more US regulation could help crypto on the whole. With more regulation, more able investors and businesses can be reached. As there are more investors in the pool, crypto prices will continue to rise with the growing new demand.

Are Bigger Regulations Around The Corner?

Unfortunately, the answer is probably yes. As blockchain technology becomes more widely accepted and used around the world, more regulations will be put in place. Rogue operatives will certainly still be able to maneuver through countries where the technology stays unregulated, but the days of a Bitcoin wild west are over.

Keep in mind, with more regulation comes more application of the technology. With both more users and uses, the blockchain market is poised to continue growing.

Featured Photo by Casey Horner on Unsplash, chart from TradingView.com

29th June 2021

NYSE-Listed Investment Firm Says Bitcoin Will Crash To $12,000

On Monday, analysts Barry B. Bannister and Thomas R. Carroll at the equity trading desk of investment bank Stifel, predict in their call of the day that Bitcoin could fall to as low as $12,000 in the coming months.

In the financial market roundup article from MarketWatch, it is mentioned,

Other casualties that Bannister and Carroll expect to see are bitcoin BTCUSD… sensitive to slowing global liquidity and the stronger dollar. The strategists at Stifel see bitcoin falling from around $34,000 to $12,000 if global M2—a measure of the money supply—drops to low-single digits year-over-year, as they expect.

Source: Stifel Estimates, Bloomberg Data

As the global pandemic comes to an end, the M2 supply – or the total amount of “near money” akin to cash, checking deposits, saving deposits, mutual funds, and any less liquid assets – should drop again. From February to August during the pandemic, the M2 supply rose in the US by nearly 3 trillion dollars.

Related Reading | A Never Wrong Bearish Bitcoin Signal Just Triggered

This large increase reflected the tough economic period for citizens and the Federal Reserve’s actions of cutting interest rates to reduce the impact individuals felt. Now that the pandemic is nearly over, interest rates will go up again, and people could once again begin spending their money instead of investing it.

The price of BTC could see a significant drop as predicted by the analysts at Stifel since people will have less extra cash on hand that could be used to invest in crypto.

BTC Price Continues To Rise?

Although the analysts at Stifel have predicted a bearish trend over the coming weeks, the market does not seem to want to agree. Currently the price of BTC sits at around 36k, well over the 28k low from earlier this month. Even though Bitcoin does somewhat follow the M2 year over year trend, that movement could be short lived. Just because there will be less cash on hand as the pandemic comes to a close, does not mean that new or existing investors will suddenly shy away from BTC and crypto.

In fact, the more that traditional analysts talk about crypto, the more new investors will see it as viable. With the acceptance of both crypto and blockchain technology, investors will continue to see movement outside of normal trends because of events that these markets have never seen before such as a global pandemic.

But Will The Market Hold?

The crypto market will continue hold as new technology and big business comes into play. Plus, the cryptocurrency market will always see movement when market analyst like Bannister and Carroll from Stifel investment firm talk about the price. Simply having firms like this closely monitoring the price of BTC tells investors that blockchain technology is a force to be reckoned with.

Photo by Austin Distel on Unsplash

28th June 2021

Why Bitcoin Could Break $40K In “Short Order” Says Analyst

Currently sitting at nearly 35k, Bitcoin’s price this week has been effected good and bad, by both news from China cracking down on the coin, and that El Salvador is giving each of it’s citizens $30 of BTC.

But thankfully, market analysts are still exceedingly bullish on Bitcoin breaking $40K quite soon. This due to the fact that quarterly options on the coin have just expired, and that the market downside was retested and able to hold at a higher low than before.

From here, Bitcoin could finally bounce back, and once again break the 40k threshold. Investors hope it continues to find it’s way back to highs reached earlier this year.

$BTC

Quarterly options expired, time to fix the market:

Expecting a full reversal over the next few months to ATHs

Strong reclaim of support after fakeout to downside, retested higher low.

Expect range high 40k to be re-tested and then broken in short order. pic.twitter.com/ww47qvTymT

— resolute (@resolutemex) June 28, 2021

Investors are enthusiastic that all time highs are on the horizon for the top crypto. Since the market was able to hold at higher low,

Why Bitcoin Is Primed To Move Now

One huge reason why Bitcoin could be primed to move right now is that Mexican billionaire Ricardo Salinas Pliego urged people to buy and noted his bank is working to be the first lender to accept the crypto in the country. On Sunday in response to a tweet from Michael Saylor, Pliego stated,

Sure, I recommend the use of #Bitcoin, and me and my bank are working to be the first bank in Mexico to accept #Bitcoin. If you need more details or information follow me on my Twitter account

Pliego has been a longtime bitcoin advocate. But using his financial prowess to allow citizens and investors in Mexico to have access to the crypto takes his furtherance to a whole new level. He understands the importance of blockchain technology on the long term and is helping give it’s decentralized financial freedom to people in his country.

The market could further be primed as just a few weeks ago, a slew of South American countries were looking to adopt crypto in various ways. Countries including El Salvador, Paraguay, and Panama have been leaders in the region. Recently they each moved with legislation to adopt cryptocurrencies, and to allow crypto exchanges to operate within their borders.

Will The Crypto Adoption Revolution Continue?

Late last week, Jack Dorsey announced a summit on Bitcoin called The B-Word. It will host many tech and business leaders around the world converging to discuss and demystify both BTC and blockchain technology.

With more people and businesses around the world finding out about and using cryptocurrencies, there will be continued adoption of the technology. Plus, new innovation in blockchain technology will bring new applications to everyday life in markets we don’t even exist yet.

Featured Photo by Mihály Köles on Unsplash

24th June 2021

Grayscale Loads Up On Litecoin, Dumps BTC & Other Coins, But Why?

On Wednesday, Greyscale Capital added nearly 8,500 Litecoin to their crypto investment holdings. The investment firm has further spent the last week loading up on Litecoin.

Within the last seven days, they purchased just over 15k Litecoin and in the past 30 days added an additional 15k to their holding. Concurrently, they offloaded a large amount of other cryptocurrencies in the last 24 hours with 35 Bitcoin, 216 Ethereum, and 4,714 Stellar Lumens being the largest movers sold off from their portfolio of crypto assets.

As is evident in the chart of Greyscale’s holdings below, they are very bullish on Litecoin while also showing some slight doubt for the rest of the crypto market.

Greyscale Capital Crypto Holdings

Image from Bybt.com

Although it is never a good idea to closely scrutinize whale-like holdings from investment firms or crypto wallet addresses that make large moves, seeing a few massive purchases over the last month proves Greyscale’s confidence in Litecoin and their ability to continue leading the way for new blockchain technology.

Large investment firms do not make any moves lightly or without careful consideration for the market as a whole. With this purchase, Greyscale is showing crypto investors what it thinks of both the market right now and where they think the market is moving in the near future.

Crypto investors in general should be bullish that Greyscale is making such a large move. But nobody should get too hyper focused on Greyscale’s fire sale of some of their other crypto assets. Large firms are always attempting to manipulate the markets and catch lightning in a bottle. If they feel they can make a quick buck on an uptick in Litecoin, they’ll do it. The rest of the market will continue to move as a decentralized network does and will continue to reward those that hold their investments over a long term.

Why Greyscale Would Buy Litecoin

There are many reasons why an investment firm like Greyscale would buy a massive amount of Litecoin while simultaneously dumping a lot of other cryptocurrency assets. Not only are they obviously bullish on Litecoin and it’s direction, but they may have also been overexposed with investments in other coins.

As the crypto asset market and blockchain technology in general continues to change on a near daily basis, Greyscale certainly could have realized that they were holding too much of certain crypto. Then, in their effort to mitigate the risk of having too much holdings in any one investment, they have slowly been liquidating cryptocurrencies that they are not as bullish on and those they feel they have a surplus of.

Remember, Greyscale is one of the biggest players in the cryptocurrency investment space right now does not want to risk losing a lot of money on any one investment. They still have billions in holdings of both BTC, ETH, and multi million dollar holdings in over ten other cryptocurrencies. Their purchase of Litecoin simply shows how optimistic they are about Litecoin and the future of that crypto.

Photo by fabio on Unsplash

22nd June 2021

Central Bank Of Portugal Approves Licenses For Crypto Exchange

In another win for the adoption of blockchain technology and cryptocurrencies, the Central Bank of Portugal (Banco de Portugal) has officially announced that they will begin approving licenses for crypto exchanges to operate within the country. Two have already been granted.

This is the first time that crypto asset exchanges are able to operate within the country since a new law on blockchain technology was passed earlier this year.

Criptoloja and Mind the Coin are currently the only virtual assets service providers officially licensed and listed on the bank’s website. However many more are sure to follow suit. The decision has been a long time coming as Criptoloja initially attempted to register in Sept 2020.

From the Central Band of Portugal’s official announcement, with these licenses, Criptoloja and Mind the Coin are now able to:

exchange services between virtual assets and fiat currencies or between one or more forms of virtual assets;

transfer services of virtual assets;

safekeeping and/or administration of virtual assets or instruments that enable the control, ownership, storage or transfer of such assets, including private encrypted keys.

The people of Portugal can now be certain that their crypto assets are transferred and can be kept securely on these open exchanges. Having a license issued from a central bank shows Portugal’s confidence in crypto assets and the continued adoption of the technology.

Countries Around The World Warming Up To Cryptocurrencies?

Portugal is just one of many countries in Europe allowing cryptocurrencies to be traded within its borders. Just last month Malta Financial Services Authority (MSFA) issued Xcoins, a major cryptocurrency exchange, a Class 3 Virtual Financial Asset License. This is the second license that the MFSA has given out with the first being Crypto.com.

Not only are countries in Europe quickly moving to adopt both blockchain and crypto technology, but El Salvador was also recently the first country to adopt bitcoin as legal tender. Many other South American countries have been quick to also jump on the growing crypto revolution. See our related reading below for a run down of the recent adoption movement in South America.

Only time will tell what countries will wake up and join to the blockchain revolution next. But as more an more countries jump on the blockchain train, others will be sure to follow suit or quickly get left behind. Blockchain technology is still very young so as more applications that the blockchain has become available, more countries will allow exchanges to operate within their borders so as to let their citizens reap the benefits of decentralized networks.

Featured Photo by Pedro Santos on Unsplash

21st June 2021

Real Estate Mogul Has $100 Million Plan For Blockchain Based Social Media Protocol

Billionaire and real estate mogul, Frank McCourt has recently been working on a new blockchain venture titled Project Liberty. It’s ambitious goal, to bring together the power of the blockchain and merge it into a social media protocol.

With a social media database like this, he believes no social media platform would be able to control everyone’s data. All users would have access to the blockchain and could aptly move records of their social connections between the apps that they want to use, when they want to use them.

Users having complete control over their information would promote competition in the social media market where platforms would have to offer users a better experience and unique features. There would be different pro’s and con’s to each platform. None would dominate completely as social media users could spread out in a wider marketplace operating on the blockchain to accept their previous data, and social connections helping them get set up faster.

McCourt is investing $100 Million into the project, proving just how much confidence investors have in blockchain technology and that the applications of the blockchain in general are endless in our tech driven world.

In an article from Bloomberg on Sunday McCourt states,

I never thought I would be questioning the security of our underlying systems, namely democracy and capitalism

We live under constant surveillance, and what’s happening with this massive accumulation of wealth and power in the hands of a few, that’s incredibly destabilizing. It threatens capitalism because capitalism needs to have some form of fairness in it in order to survive

The fairness that McCourt is looking for lies in the inherent freedom of a decentralized protocol and the foundations of blockchain technology. No one entity is in charge of the network and the data. Users on this social media protocol would have access to their data putting the power of making money off people’s data back in the people’s hands.

How Project Liberty Works With Blockchain Technology

The main aim of the project is to build a Decentralized Social Networking Protocol. Much like how Bitcoin and cryptocurrencies are stored in a users wallet with a unique key, on this protocol, users social media data would be stored here on the Decentralized Social Networking Protocol. Then, users can choose to transfer that data to the different apps and platforms that they want to use as their forms of social media.

Much like the original goal of Bitcoin and crypto in general, it is important that date like social media information become ingrained in the blockchain as well. That way, it is engrained forever and the people can control their own data how they want. Knowing that it is there, secured in their wallet, and transferable forever to be used how they see fit.

This is a huge addition to the blockchain tech world with implications on the market that are far reaching. With a Decentralized Social Networking Protocol, new social media apps and platforms would have a way of aquiring users without having to go through the already major players in the social media industry. Plus the best part, users would always control their data giving and taking away permission from companies as they need.

Additional Blockchain Social Media Protocol

Project Liberty closely mirrors the aims of Bluesky. A project started by Twitter CEO Jack Dorsey that also aims to use blockchain technology to give users the power of their own data back. He details much of the goals for the project in this Twitter thread.

It is clear that with big players in the game like Twitter and billionaire Frank McCourt, the marriage between social media and blockchain tech is here to stay. Moreover, it will almost certainly grow bigger over time as more platforms adopt the changes within the marketplace.

Feature Photo by Rodion Kutsaev on Unsplash

18th June 2021

Pantera Capital CEO: Bitcoin Has Only Been This “Cheap” 20% Of The Last 11 Years

The best time to buy Bitcoin was a few years and when it first came around in the early 2010’s. The next best time to buy BTC? Right now according to Pantera Capital CEO Dan Morehead.

In a tweet sent out recently, Morehead laid out the facts for why the the market is below trend, making now one of the best times to buy.

For new investors, it’s best to buy when the market is well below trend. Now is one of those times.#Bitcoin has only been this “cheap” relative to its trend 20.3% of the past 11 years.

More perspectives on market timing in our June investor letter: https://t.co/AOvhFyxBJh pic.twitter.com/2bsxbw5Iay

— Dan Morehead (@dan_pantera) June 16, 2021

Bitcoin Below Market Trend?

What Morehead explains about the price of Bitcoin is clear to see. Right now, Bitcoin is trading at 36% below its 11 year exponential trend. So, relative to this trend, or the overall direction of market price, it has only been this “cheap” to buy and under the trend for a little over 20% of the last decade plus.

This means that typically, people pay more for BTC relative to what they should have paid based on price movement. For those looking to buy bitcoin at a potential discount, now may be that time since Bitcoin is not normally under the trend in this way.

Although Bitcoin is trading at a lower price after the downturn in recent weeks, that doesn’t mean the market isn’t poised for a rebound. Investors should be bullish that the cryptocurrency is currently cheap relative to the trend. This along with the fact that it’s year over year return is up 281% shows that there should be no worry from crypto investors and those holding any digital assets.

Pantera Capital is the first U.S based institutional asset manager focused completely on blockchain technology. Since their first fund in 2013, they have continually been on the cutting edge of funding blockchain businesses, and investing in digital assets.

In Pantera Capital’s blockchain letter from 6/14/2021, they further clarify the reasons why holders should not worry about the recent losses:

It has averaged more than tripling annually for ten years. Anyone that has held bitcoin for 3.25 years has made money. Bitcoin has only printed one calendar year with a lower low. So, most of those investors are up big-time.

Why Is The Crypto Market Below Trend?

Many factors play into the reasons that the crypto market is below trend right now. But the biggest comes from the large dip crypto prices took a few weeks ago. With that drop, many investors were scared into liquidation and fears that the market could completely bottom out. The prevailing side effect, Bitcoin trades at a lower price relative to it’s decades long trend.

If you were thinking about dipping your toe into the cryptocurrency market, there is no better time like today to get a good deal on the price of Bitcoin relative to its history.

Feature photo by Chronis Yan on Unsplash

16th June 2021

South American Countries Are Interested In Adopting Bitcoin: Who Will Be Next?

Since Bitcoin was adopted as legal currency in El Salvador, the crypto world is watching and waiting for who will be next. There could be a few South American countries to vote for legalizing crypto and paving the way for crypto infrastructure sooner rather than later.

Leaders from countries including Panama, Paraguay, Mexico, Argentina, Nicaragua, and Brazil, have all expressed support for cryptocurrencies and some are already moving to introduce legislation supporting the the digital currency.

Panama Congressman Preparing Crypto Bill For July

Panamanian Congressman Gabriel Silva is preparing a bill to be unveiled next month that calls for widespread adoption of cryptocurrencies in the country as legal tender. Still further, the bill could potentially offer incentives for businesses that are in the crypto space such as tax exemptions and work permits.

Shortly after the announcement by El Salvador’s President Nayib Bukele, Silva tweeted knowingly about how important the adoption of cryptocurrencies is for keeping up with, and right now frankly leading, the rest of the world.

Esto es importante. Y Panamá no se puede quedar atrás. Si queremos ser un verdadero hub de tecnología y emprendimiento tenemos que apoyar las criptomonedas

Estaremos preparando una propuesta para presentar en la Asamblea. Si están interesados en construirla me pueden contactarte https://t.co/yiAzPpD9nj

— Gabriel Silva (@gabrielsilva8_7) June 7, 2021

In English, the tweet reads:

This is important. And Panama cannot be left behind. If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies

We will be preparing a proposal to present at the Assembly. If you are interested in building it, you can contact me

Bitcoin has always been for the people, by the people. It is certainly fitting that a progressive young leader paving the way for crypto is available for contact and wants anyone interested to be involved in the project.

Will Paraguay Adopt Cryptocurrency Next?

Meanwhile, Paraguay is also aligning itself to become the crypto capital in South America. Congressman Carlos Rejala is leading the way with a bill that will entice crypto businesses and crypto mining companies to operate within the country. If this first bill is approved, he plans to present a second bill legalizing bitcoin and other crypto currencies as legal money within the country.

Como ya lo decía hace un buen tiempo, nuestro país necesita avanzar de la mano de la nueva generación.
Llegó el momento, nuestro momento.
Esta semana empezamos con un proyecto importante para innovar a Paraguay frente al mundo!

El verdadero to the moon 🚀#btc & #paypal pic.twitter.com/ZMRJgAIxgO

— Carlitos Rejala 🙏🇵🇾🙌 (@carlitosrejala) June 7, 2021

In English the tweet reads:

As I was saying a long time ago, our country needs to advance hand in hand with the new generation.
The moment has come, our moment.
This week we start with an important project to innovate Paraguay in front of the world!
The real one to the moon

Rejala knows that in order to stay current with the rest of his South American peers, Paraguay must position itself to be on the forefront of the crypto revolution. He understands that this is a pivotal moment in history and that as the new generation, he must advocate for adopting blockchain technology.

Who Will Adopt Bitcoin Next?

South America is certainly leading the way ahead of the rest of the world when it comes to bitcoin, cryptocurrency, and blockchain technology adoption on a country-wide legalized scale. Soon enough, it seems like every country in South America will legalize some form of crypto.

Speculation is tough, but if the market continues it’s recent upswing, I suspect many more countries will be eager to get in on the crypto revolution.

16th June 2021

South American Countries Are Interested In Adopting Bitcoin: Who Will Be Next?

Panama Congressman Preparing Crypto Bill For July

Esto es importante. Y Panamá no se puede quedar atrás. Si queremos ser un verdadero hub de tecnología y emprendimiento tenemos que apoyar las criptomonedas

Estaremos preparando una propuesta para presentar en la Asamblea. Si están interesados en construirla me pueden contactarte https://t.co/yiAzPpD9nj

— Gabriel Silva (@gabrielsilva8_7) June 7, 2021

In English, the tweet reads:

This is important. And Panama cannot be left behind. If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies

We will be preparing a proposal to present at the Assembly. If you are interested in building it, you can contact me

Will Paraguay Adopt Cryptocurrency Next?

Como ya lo decía hace un buen tiempo, nuestro país necesita avanzar de la mano de la nueva generación.
Llegó el momento, nuestro momento.
Esta semana empezamos con un proyecto importante para innovar a Paraguay frente al mundo!

El verdadero to the moon 🚀#btc & #paypal pic.twitter.com/ZMRJgAIxgO

— Carlitos Rejala 🙏🇵🇾🙌 (@carlitosrejala) June 7, 2021

In English the tweet reads:

As I was saying a long time ago, our country needs to advance hand in hand with the new generation.
The moment has come, our moment.
This week we start with an important project to innovate Paraguay in front of the world!
The real one to the moon

Who Will Adopt Bitcoin Next?

Speculation is tough, but if the market continues it’s recent upswing, I suspect many more countries will be eager to get in on the crypto revolution.

15th June 2021

Bitcoin Lightning Network Sees Storm Of Activity And Adoption

Throughout the early part of this year, the Lightning Network (LN) has seen massive growth and continued adoption from the Bitcoin community. Just yesterday, Lightning Network saw it’s capacity surge to over 1500 BTC.

This uptick in activity and adoption shows that users are confident in the ability to make transactions off-chain securely through the LN. These payments are then secured on the blockchain through a two-party ledger entries.

Just this year, the Lightning Network as seen a massive growth of 42% in the number of BTC available. Plus, there are now over 12,000 nodes taking care of 45,000 payment channels. These bullish numbers are only expected to grow with the adoption of cryptocurrency as any everyday payment form.

Source: Arcane Research

Why Does BTC Need The Lightning Network?

Since it’s inception, Bitcoin has had issues with blockchain congestion and the associated higher fees during an influx of transactions. The LN aims to ease that congestions while also lowering fees for transactions.

As a 2nd layer payment protocol on Bitcoin, the Lightning Network is critical for allowing users to make microtransactions. Without the ability to make these transactions, BTC is obsolete to the common man due to higher fees and slow transaction times.

Allowing users to make these smaller transactions is significant to the adoption of cryptocurrencies being used in our everyday lives. Ensuring transactions are near instant and completely secure is essential for crypto adoption on a worldwide scale. The scalability that the Lightning Network brings to the blockchain is pivotal to moving this technology away from being used as a traditional investment and more as a type of fiat currency.

In the last few weeks since El Salvador announced Bitcoin as legal tender, Bitrefill announced that on multiple occasions they processed over 10,000 daily transactions. This high number of transactions on the LN saved nearly 2 blocks on-chain. Thus proving that the Lightning Network is applicable to everyday transactions and helps contribute the scaling of bitcoin for use by anyone.

Will Twitter Integrate With The Lightning Network?

In another huge win for adoption of the Lightning Network, Twitter CEO Jack Dorsey last Thursday responded to a tweet asking about the it being integrated into Twitter or Bluesky, a new decentralized social media protocol being built. His response was short and sweet:

Only a matter of time

— jack (@jack) June 11, 2021

With the continued adoption of blockchain technology, the Lightning Network will be a crucial integration for everyday app users making transactions with crypto. Although there is no integration as of yet, Jack Dorsey’s answer to the question is telling.

Soon enough, apps around the world will be built with blockchain technology in mind, continually making transactions easier, faster, and more secure than ever through transaction on the Lightning Network.

Featured Image Source: Nastya Dulhiier on Unsplash