Powell believes that the US dollar will lose value, so he recommends buying products and services with financing. He also advises investing in Bitcoin rather than the American fiat currency as the letter loses value.

The CEO of cryptocurrency exchange Kraken, Jesse Powell, recently talked about the present and future of the US dollar and Bitcoin.

The businessman thinks that it is hard to predict where the price of Bitcoin will head. He admitted that he is paying more attention to the US dollar now that people wonder where its bottom is. He explained that inflation seems out of control, and there are no signs that it will end.

In August, the founder of Kraken forecast that the price of Bitcoin would reach USD 100,000 at the end of 2021. In that sense, he said he should stop making predictions due to his mistake, as the cryptocurrency is trading at USD 47,700. However, Powell does not recommend keeping savings in US dollars and advises investing in Bitcoin for the long term.

He advised stocking up on gas and milk, besides prepaying medical bills and student fees, as ways to offset inflation. Similarly, he recommended buying products and services with financing since he believes interest rates will turn negative. However, he warned that people must do that practice with caution. Everyone should pay the debts they take on according to their economic level.

The United States is undergoing the highest inflation in the last 39 years, said Powell and other different public figures. Robert Kiyosaki, the author of Rich Dad, Poor Dad, and businessman Elon Musk, the CEO of Tesla, are only two examples. They both disagree with the economic policies of Joe Biden and encourage their followers to invest in Bitcoin to get rid of US dollars.

Investors Should Think of the Long-Term Bullish Trend of Bitcoin

Powell said he had thought ten years ago that everybody would travel on flying saucers and pay for coffee with Bitcoin. With that example, he means it is hard to know where it will go. However, the long-term trend line of Bitcoin suggests that its level of adoption is growing.

Regarding his predictions, it is now possible in countries like Argentina to buy coffee with Bitcoin. The same happens with McDonald’s in El Salvador, where the cryptocurrency became legal tender. Therefore, although it is not yet a global situation, his dreams were not too far from reality.

Jesse Powell advised thinking of Bitcoin as an investment of more than five years, as it constantly goes up and down. However, although there are still no flying saucers, the growing interest in Bitcoin from less experienced investors is considerable.

In addition, the CEO of Kraken said that many speculators believe that Bitcoin will soon drop below USD 40,000. As an investor in the pioneering cryptocurrency, he explained that this fall could mean a buying opportunity, as it tends to appreciate in the long term.

By Alexander Salazar

In Ukraine, Former Commercial Bank is About to Test Digital Currency on Stellar’s Blockchain

The pilot program takes effect with the supervision of the central bank of Ukraine and will test the use of a digital hryvnia for payroll payments.

One of Ukraine’s oldest commercial banks, TASCOMBANK, is beginning a testing program for a digital version of hryvnia, that nation’s legal tender, that will leverage the Stellar blockchain.

The Stellar Foundation, a non-profit organization that backs up the development and growth of Stellar, announced the news on Tuesday in a press release that got shared through its social networks.

According to the information, Tascombank would release the pilot program in parallel with the fintech company BittGlobal. Tascombank intends to test various payment use cases of digital currency. The electronic hryvnia would get tested on the Stellar Blockchain and applied through the BittGlobal platform’s digital currency management system.

Ukraine to Test Digital Currency for Payroll

The pilot program will take effect with the National Bank of Ukraine’s supervision and with the support of the Ministry of Digital Transformation. Speaking about the initiative, the Deputy Minister of Digital Transformation, Oleksandr Bornyakov, said this pilot project will serve as the technological ground for the issuance of electronic money and is the next step in advancing the innovation of financial and payments infrastructure in Ukraine.

The Stellar Foundation highlighted that the goal is to set various tests on the issuance of electronic money on an open blockchain. As such, the pilot program will seek to test the effectiveness of the digital currency on public employee payroll, peer-to-peer payments, and merchant payments.

According to the report, the pilot will test the use case for payroll payments with the employees of Diia, a public information technology (IT) solutions company in Ukraine.

The digital currency will get built according to existing e-money legislation in Ukraine, and the pilot might start in 2022. While the companies did not highlight an exact timeframe for the project, Valeriy Danilenko, Tascombank vice president responsible for e-commerce, pointed out to CoinDesk that the goal is to carry out a pilot test in the shortest reasonable time.

Europe and the Development of CBDC

The government of Ukraine, a country with one of the highest rates of crypto adoption according to a 2020 ranking by Chainalysis, is curr to innovate its payments system.

The nation’s parliament approved a law to regulate payment methods in July. The language of that regulation puts central bank digital currency (or CBDC) in the same category as cash or electronic money. Around the same time, President Volodymyr Zelensky signed a law that would allow Ukraine’s central bank to issue a CBDC, according to a CoinDesk report.

Also, before this legislation, the Ministry of Digital Transformation of Ukraine had already announced a partnership with the Stellar Foundation for a national digital currency creation, Decrypt reported.

Ukraine’s most recent efforts place the nation far ahead of many European countries in plans to issue a CBDC. In October, the European Central Bank launched a two-year experiment in a digital euro; although the entity has highlighted that the European Union will not see a CBDC until -at least- 2025. Meanwhile, about 80 central banks worldwide are actively exploring digital currencies.

By: Jenson Rivas

A man wanted to sell an NFT for 75 ether, but he sold it for 0.75 Ether due to a typo. The NFT in question was a Bored Ape Yacht Club NFT, one of the best known and most expensive collections on the market.

A guy went through a lucky day this week when he acquired an NFT of the iconic Bored Ape Yacht Club bored monkeys at $ 2,800 when its current price worths $ 280,000.

The situation took effect due to a mistake in setting the price of ether (ETH) on OpenSea, a platform to market tokenized art. Max, a user, offered the NFT for sale for 75 ETH, but he typed 0.75 ETH by accident, a figure that represents only 1% of the total value.

After launching the post of the work Bored Ape 3,547, Max realized the mistake and desired to cancel the transaction. However, it was too late. The investor told CNET the NFT got sold almost instantly after it appeared on the platform.

The user that acquired the NFT put the Yacht Club NFT up for Sale after Buying it Almost for Free

It remains unclear if the buyer was an interested party who was only looking at the articles on the platform and did not hesitate to acquire Max’s NFT when he saw its almost free price or if it was a bot the one that made the transaction. This last option is a tool that some buyers activate to purchase assets that appear with prices below the standards and with non-reversible transactions.

The platform reflected that the buyer purchased the NFT for a final price of 8 ETH, including commissions to expedite the transaction. After getting it, he put it up for sale at 85 ETH, which runs in parallel with almost $ 320,000. The buyer still has it for sale, but he would be doing a great deal soon.

Bored Ape Yacht Club gathers around million dollars invested in its tokens, thus being the sixth collection that manages the most volume of money in the NFT market, according to data from Dappradar.

Many companies are interested, such as Adidas and Rolling Stone magazine, which have created products with the image of their iconic monkeys.

This situation took effect because of a lack of concentration, the affected user guessed. He listed various articles daily, and he was not paying proper attention.

The affected user instantly saw the error when my finger clicked on the mouse, but a bot sent a transaction, so it disappeared instants before the user could click cancel, and lost his $ 280,000.00.

By: Jenson Nuñez