Bitcoin is getting implemented in Latin America by government initiative or as a social movement. Countries with the use of digital assets show what limits its acceptance.

Bitcoinization will be here in at least eight years, and the world reached this level of adoption, positioning the Central American region as a benchmark for the many structures under cryptocurrency use.

While technology suffers various improvements, the human reaction to evolution is always the same, to the point that it has historically drawn a circular pattern that, applied to the adoption of a currency like bitcoin, shows that the rate of acceptance is in the first stage.

However, This adoption is running at such a pace that it would approach the “early majority” stage (50% global popularity) faster than other technologies such as the Internet, smartphones, or social media.

This matter became public news according to o a report led by the research study Blockware Intelligence which studies and compares the historical curves of the massive use of various technologies with the exponential improvement that bitcoin is currently reaching.

The team of experts that led the report thinks that the popularity of bitcoin will skyrocket and its use will spread massively in 2030, which shows the unstoppable march bitcoin is heading toward the world economy.

Bitcoin in El Salvador: An Adoption Model with a Strategy from the Government

A year has passed since the Legislative Assembly of El Salvador approved the Bitcoin Law, encouraged by President Nayib Bukele. With these regulations, the country became the first to provide legal tender to the first digital asset.

While governments and financial institutions worldwide cling to centralized currencies they control at will to issue infinitely, El Salvador has embraced a crypto asset like bitcoin; this asset works without an established human issuer, no administration, no employees, and a finite supply.

It means that the smallest nation in the region, with more than 70% of its population unbanked, decided to believe in an inclusive financial structure in which everyone can play an active role. With its action, the administration acknowledges that the country’s development has historically been limited.

Due to the dollarization decline, which happened more than 20 years ago, El Salvador does not have the power to print funds to solve its financial struggles. For this reason, it has had to count on entities such as the International Monetary Fund and the World Bank to ask for loans, borrowing, and then unbalancing its economic system.

One of the motivators of El Salvador to encourage the acceptance of bitcoin is the search for new chances to reach a progress status. This with the idea of ​​approaching a decentralized financial system that allows it to carry out its economic policy, taking steps in parallel to other options to dollarization that has limited its ability to recover the economy.

By: Jenson Nuñez

Novi will end its operations on September one. The project allowed sending remittances through WhatsApp to Guatemala.

The attempt of Meta, before Facebook, to be one of the most prominent entities in the digital asset sector is fading more and more. The company reported that its Novi wallet would no longer be available as of September one of this year.

Users will have the chance, until that date, to extract the personal information they brought to the network to complete their registration.

The company explained in an announcement posted on its website that, before the platform shuts its doors, users would be able to withdraw the remaining balance and download their personal information from Novi in ​​a simple way.

According to Coindesk, the company said to users that, as of July 21, they would not be able to deposit funds in their accounts. Likewise, the WhatsApp social network account will not work, nor will the wallet application.

The use of WhatsApp to receive and send funds was one of the company’s latest proposals in December 2021. The service allowed to send money in the tablecoinpaxdollar (USDP) and became enabled on a pilot basis only in the United States of America.

Another pilot plan was the active Novi digital wallet to send remittances between Guatemala and the United States of America. Novi employed the Pax Dollar (USDP) stablecoin through partnerships with startup Paxos and exchange Coinbase. In such a way, users would send and receive money instantly, safely, and without any cost.

Regulator pressure

Novi, which went through several improvements since its creation when it was first named Calibra, was part of the troublesome Libra stablecoin project that got later renamed Diem. The wallet tried to bring interoperability with the messaging apps operating on the Facebook platform, Messenger, and WhatsApp; and have the possibility to send funds to friends or family.

However, all of Facebook’s strategies with the stablecoin got pressured because of regulators on a global scale. These regulators were worried about problems such as security, money laundering, and consumer protection.

Although the company did not express what motivated the cessation of Novi’s operations, this accumulation of regulatory obstacles that the project faced for several years, added to the so-called crypto winter that the market is experiencing, could give the push they need to close the doors.

By: Jenson Nuñez

The key to effective investing is setting realistic expectations and using a clear framework as a guide. Investing in cryptocurrencies requires structured decision making.

At any time, Bull or Bear Markets, you can always make investments that double, multiply or simply serve as a refuge so that our assets do not lose value or, at least, lose little. There are no guarantees, but with order, the possibilities of sustaining and gaining value grow.

In the world of investments “there is no security” but there are ways to overcome the storms that the real world proposes.

Meanwhile, the fundamental key will be in understanding and trusting that through order it is possible to find again and again what some simply attribute to fortune.

Structured Decision Making

The biggest challenge of investing in cryptocurrency projects is the large number of existing coins, more new coins, and a myriad of protocols that could justify investing your money. Valuable is usually buried under a mountain of worthless data. For all this, it is logical to ask the first question: How to overcome this enormous obstacle?

There are two general approaches to separating signal from noise: (a) Do your own research; (b) Trust the research of others

Do your own research (DYOR or do your own research) is a fundamental mantra of the cryptocurrency universe and, in addition, the only genuine way to justify the risk of the money that we have so hard to earn.

Although most people can agree, in fact very few know where to start. Acquiring knowledge is not just an arduous task, requiring endless hours of reading and listening, but a moving goal, with new technologies and concepts, constantly emerging and being challenged.

The tempting alternative is to outsource this entire DYOR issue to “those who know”, to those who explain better on social networks or know how to sell some ideas better, but – you have to be careful – getting on the shoulders of these great communicators is not risk-free.

According to the Franciscan Thomist William of Ockham, it is not necessary to multiply explanations. It is best to distrust everything and everyone but, fortunately, a compromise can be reached between the unrealistic challenge of retraining as financial expert in your spare time, and taking massive risks on low-quality coins. This depends on three aspects, which are briefly explained below.

1. Set a realistic expectation: It means we can let the airdrop or first public sale go by without being disappointed in ourselves.

2. Focus on the things you understand: One of billionaire investor Warren Buffet’s golden rules is to only invest in things you understand. If the case is: “I don’t understand anything about crypto”, the best recommendation is to start with some very general exercises for adoption. A good example, start with Vijay Boyapati’s “Bull Case for Bitcoin”.

3. Establish a framework for decision making: If you focus on projects that you understand, you can finally filter out the noise, reducing the amount of information that needs to be absorbed. This approach will help to go in the right direction.

The key to effective investing is setting realistic expectations and using a clear framework to guide decision-making in the right way. In a market like cryptocurrencies -little known to many-, it is not easy, but with a little order, the chances of achieving it will undoubtedly increase considerably.

By Audy Castaneda

Coinbase, Three Arrows Capital, and MicroStrategy Lead the Latest Business News from the Blockchain World.

Coinbase has long been considered an important indicator of the cryptocurrency market. Last year, when the company was expanding its workforce, adding institutional clients, and issuing shares, cryptocurrency prices were reaching all-time highs. Now, in the midst of cryptocurrency bear markets, Coinbase is cutting a fifth of its staff, losing retail trading volume, and struggling with credit and stock downgrades.

This week’s Crypto Biz dissects Goldman Sachs’ demotion of Coinbase shares and we also review the latest developments around Three Arrows Capital.

Goldman Sachs Downgrades Coinbase Stock to “Sell”

Following a promising debut on Nasdaq in mid-April 2021, there has been nothing but drops for Coinbase stock. The company, which once had a fully diluted market capitalization of almost $100 billion, has been caught in a downward spiral in the middle of crypto winter.

Acknowledging the 80% decline in Coinbase stock, Goldman Sachs analysts this week downgraded the company’s stock to “sell,” which is basically a recommendation for investors to exit their positions and end up pouring money into such actions, at least for now.

Goldman is not the only company that has turned bearish on Coinbase. Earlier this month, credit rating agency Moody’s also downgraded the company to Ba3, which is considered a non-investment grade.

British Virgin Islands Court Reportedly Ordered Liquidation of 3AC

The mind behind Three Arrows Capital, also known as 3AC, has been silent for the past few weeks amid news that the hedge fund is bankrupt. On June 27, a court in the British Virgin Islands ordered the liquidation of 3AC, setting the stage for further volatility in the cryptocurrency market.

Although details are scant, the liquidation ruling came shortly after the exchange Voyager Digital served 3AC with a default notice for failing to repay a huge loan that included 15,250 BTC and 350 million USD Coin (USDC). It appears that the next few months are going to be ugly, based on these recent events.

MicroStrategy Buys 480 Bitcoins amid Market Crash

Concerns over Michael Saylor’s Bitcoin conviction were allayed this week after the CEO of MicroStrategy announced that his company had acquired an additional 480 BTC for $10 million.

MicroStrategy currently holds a staggering 129,699 BTC valued at a total of $3.98 billion. Taking into account its average purchase price of $30,644 per coin, the company has a net unrealized loss of about $1.4 billion.

With the cryptocurrency bear market only just beginning, it could take years for MicroStrategy to break even on its holdings. However, Saylor is as unflappable as ever.

In Conclusion…

Bitcoin’s measly rally towards $22,000 earlier this week had some investors looking forward to an impending breakout anytime soon. Unfortunately, it did not happen. Now, investors are wondering if a price of $30,000 or a BTC below $17,000 will be seen first.

By Audy Castaneda