Year: 2024

El Salvador Reports 212 Million Dollars in Revenue Thanks to Bitcoin Agency

El Salvador has disclosed revenues of USD 212 million through its Fund Management Agency. BitcoinThe company has consolidated its position as a key player in the management of digital assets. These revenues, mainly generated by exchange rate differentials, represent a success in the country's commitment to the cryptocurrency. The agency, created under the Law on Issuance of Digital Assets, has as its mission not only the efficient management of Bitcoin assets, but also the financing of social and economic projects. This strategy reinforces the government's commitment to the crypto ecosystem.

Since El Salvador adopted Bitcoin as legal tender, the nation has been investing in creating infrastructures that enable mass adoption, promoting financial inclusion and attracting foreign investors. The Bitcoin Fund Management Agency, founded for this purpose, has proven to be an effective tool to maximise the benefits of cryptocurrency investments and support the country's economic growth.

The lion's share of the revenue comes from profits made from exchanging and buying Bitcoin over time, taking advantage of market fluctuations. This highlights the success of the government's strategy of managing Bitcoin reserves with a long-term vision.

The funds raised by the agency have not only been used to stabilise the economy, but also to finance social projects, such as the construction of public infrastructure, housing and the improvement of the network of essential services.

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Mastercard Expands Support for Uncustodied Cryptocurrency Holders: Partners with Mercuryo to Launch Cryptocurrency Debit Card

Mastercard, one of the global payments giants, continues its expansion into the world of cryptocurrencies with an ambitious new project. The company has announced a strategic partnership with Mercuryo, a leading crypto payments platform, to launch a cryptocurrency debit card. This new product is designed to facilitate cryptocurrency transactions through non-custodian cryptocurrency wallets, giving users greater freedom and control over their digital assets.

The debit card will allow users to convert cryptocurrencies to fiat currency and spend anywhere Mastercard is accepted, making the everyday use of cryptocurrencies more accessible than ever. This collaboration also highlights Mastercard's growing interest in integrating blockchain technology and cryptocurrencies into its global infrastructure, providing solutions that combine traditional finance with the emerging crypto ecosystem.

Cryptocurrencies and Security: Uncustodied Cryptocurrencies Under the Radar

One of the most prominent features of this initiative is the focus on non-custodian cryptocurrencies. These wallets allow users to have full control over their private keys, without the intervention of an intermediary or custodian, providing greater security and autonomy. By expanding its support for these wallets, Mastercard is responding to a growing demand from users who want more independence and privacy in the management of their cryptocurrencies.

Mastercard and Mercuryo: A Strategic Alliance for Crypto Expansion

The partnership with Mercuryo positions Mastercard as one of the pioneers in driving the everyday use of cryptocurrencies. Mercuryo, known for its innovative approach to crypto payment solutions, provides the technology and infrastructure needed to ensure that the transition between digital and traditional currencies is seamless and efficient. Together, Mastercard and Mercuryo are creating a simple, secure and accessible user experience for the millions of people who are adopting cryptocurrencies as part of their financial lives.

Boosting Global Adoption of Cryptocurrencies

This move not only underscores Mastercard's commitment to innovation in the crypto sector, but is also an important step towards the global adoption of cryptocurrencies. The new debit card has the potential to bring more users into the crypto ecosystem, removing the complexity that often accompanies converting and spending cryptocurrencies in everyday life.

Conclusion

The partnership between Mastercard and Mercuryo to launch a cryptocurrency debit card marks another milestone in the advancement of digital finance. With Mastercard's backing, non-custodian cryptocurrencies gain greater acceptance and usability, giving users the ability to use their cryptocurrencies on a day-to-day basis in a more integrated and efficient way. This move reinforces the trend of cryptocurrencies towards mass adoption and positions Mastercard as a leader in the evolution of the global financial sector.

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New Zealand adopts OECD cryptocurrency reporting framework in new tax bill

In a significant move towards cryptocurrency regulation and transparency, New Zealand has announced the incorporation of the Organisation for Economic Co-operation and Development's (OECD) cryptoasset reporting framework into its new tax bill. This decision positions the country as one of the pioneers in the implementation of international regulations for the oversight of digital assets.

The OECD framework, known as CARF (Crypto-Asset Reporting Framework), is designed to ensure that cryptocurrency transactions and holdings are properly reported to tax authorities. This system aims to reduce the potential for tax evasion and promote greater transparency in a sector that, until now, has been largely unregulated.

The New Zealand government has stressed the importance of adopting these international regulations to maintain the integrity of its tax system and prevent the country from becoming a haven for illicit activities related to cryptoassets. In addition, the implementation of the CARF is expected to facilitate international tax cooperation and the exchange of information between authorities in different countries.

This new tax bill also includes measures to improve oversight of cryptocurrency exchange platforms, ensuring that they comply with reporting standards set by the OECD. New Zealand tax authorities will be able to request detailed information on cryptocurrency transactions and holdings from New Zealand residents, as well as from foreign platforms operating in New Zealand.

With the implementation of these measures, New Zealand joins a select group of countries that are rapidly adopting regulatory frameworks for cryptocurrencies, which could set a precedent for other nations looking to strengthen their fiscal policies in the face of the growing popularity of digital assets.

The new tax bill is currently being debated in Parliament, and is expected to come into force from next year, following final approval. The cryptocurrency community in New Zealand, while expressing some concerns about the additional administrative burden, recognises the need for clear regulation that promotes stability and confidence in the market.

This development marks an important milestone in the evolution of cryptocurrency regulation globally, and could influence how other countries approach the oversight of digital assets in the near future.

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El Salvador's Bitcoin City: A Step Towards a Financial Future

In the heart of Central America, El Salvador has captured the world's attention by being the first country to adopt Bitcoin as legal tender. But this small country is not stopping there; it is taking its commitment to cryptocurrency to another level with the creation of Bitcoin City, an ambitious project that promises to revolutionise the economy and technology in the region.

What is Bitcoin City?

Bitcoin City is a visionary project announced by the president of El Salvador, Nayib Bukele, in November 2021. The city is being built at the base of the Conchagua volcano on the east coast of the country and is designed to be a global technology and financial hub. Powered by geothermal energy, Bitcoin City aims to be a self-sustainable community, where Bitcoin is not only used as a currency, but is the cornerstone of economic and social development.

A Futuristic and Sustainable Design

Bitcoin City is planned with a futuristic urban design, inspired by the shape of a coin, symbolising the revolutionary nature of the project. According to the government's projections, the city will feature residential, commercial and recreational areas, as well as schools, hospitals and other public services necessary for a modern community.

What makes Bitcoin City unique is its focus on sustainability. Being located near an active volcano, the city will harness geothermal energy to power its infrastructure, including Bitcoin mining farms. This initiative not only seeks to make Bitcoin a green currency, but also aims to make El Salvador a leader in renewable energy and clean technologies.

Fiscal Incentives and Investment Attraction

One of the most significant attractions of Bitcoin City is its proposed tax incentives. Residents and businesses in the city will not be subject to income, property or capital gains taxes, making it a very attractive destination for investors and entrepreneurs from around the world. Only a small value added tax (VAT) will be levied to finance the development of the city and its maintenance.

This pro-entrepreneurial approach is part of El Salvador's strategy to attract foreign investment and foster economic growth through the adoption of cryptocurrencies. With Bitcoin City, El Salvador seeks to position itself as a pioneer in the digital economy and a point of reference for other countries considering following a similar path.

Challenges and Opportunities

Although Bitcoin City is a bold and exciting project, it also faces several challenges. The volatility of the cryptocurrency market is one of the main risks, as fluctuations in the value of Bitcoin could impact the economic stability of the project. In addition, there are concerns about the country's capacity to handle a project of this magnitude, both in terms of infrastructure and governance.

However, the opportunities it offers are enormous. If successful, Bitcoin City could transform El Salvador into a global hub for technological and financial innovation. Moreover, it could serve as a model for other developing nations looking to use blockchain technology to drive their economic growth.

Conclusion

El Salvador Bitcoin City is more than just an economic experiment; it is a bold statement from a small but brave country that is willing to lead change in the global economy. While the risks are significant, the potential for innovation and progress that this project represents cannot be underestimated. As El Salvador moves forward in building this visionary city, the world will be watching closely, waiting to see if this dream becomes a transformative reality.

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Generation Z and Millennials: The Pioneers of Cryptocurrency Investment.

Generation Z and Millennials are two groups that, despite their generational differences, share a growing interest in cryptocurrencies. While Generation X and Baby Boomers tend to be more cautious with traditional investments such as stocks and real estate, today's young adults are embracing the digital world with enthusiasm.

Why are these generations so interested in cryptocurrencies?

  1. Native Technology: Both Millennials and Generation Z have grown up surrounded by technology. For them, the use of digital platforms is natural and they are more willing to adopt new technologies such as cryptocurrencies.
  2. Distrust of traditional institutions: After experiencing global economic crises and seeing the limitations of the traditional financial system, many young people are looking for more decentralised and user-controlled alternatives.
  3. Opportunity for growth: Cryptocurrencies represent a high-risk, high-reward opportunity. While volatile, they have also shown exponential growth potential that is attractive to those willing to take risks.
  4. Accessibility: Unlike traditional investments, cryptocurrencies are available to anyone with an internet connection and a smartphone. They do not require large amounts of capital to get started, making them accessible to a younger audience.

In conclusion, Generation Z and Millennials are leading the way in cryptocurrency adoption. Their familiarity with technology, desire to find alternatives to traditional institutions and the accessibility of cryptocurrencies make them the generations most willing to explore and invest in this new digital world.

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Colombia: Joining Forces to Define the Legal Framework for Cryptocurrencies

At a crucial moment for the crypto ecosystem, Colombia is taking significant steps towards the regulation of cryptocurrencies. Recently, it was announced that several banks and regulators in the country are joining forces to work on the creation of a legal framework to regulate the use and operation of cryptocurrencies in the country. This initiative seeks to provide clarity and security to both users and financial institutions.

The Context of Crypto Regulation in Colombia

Over the last few years, the rise of cryptocurrencies has captured the attention of Colombians, becoming an interesting alternative for investment and transactions. However, the lack of a clear regulatory framework had generated uncertainty and risks for both investors and financial institutions. Against this backdrop, the government and regulators have understood the need to establish guidelines that favour a safe and regulated environment.

Collaboration between banks and regulators

The coming together of banks and regulatory institutions marks a milestone on the road to creating a sound legal framework. This joint effort includes entities such as the Superintendencia Financiera de Colombia (SFC), the Banco de la República and several major banking institutions. The aim is to develop regulations that not only regulate transactions and the use of cryptocurrencies, but also promote innovation in the financial sector.

Objectives of the New Legal Framework

The new legal framework that is in the making has several key objectives:

  1. Consumer ProtectionEnsure that cryptocurrency users are protected against fraud and scams by establishing accountability mechanisms for cryptocurrency platforms.
  2. Money Laundering PreventionImplement measures to track and regulate cryptocurrency transactions, helping to prevent illegal activities related to money laundering and terrorist financing.
  3. Promoting InnovationTo create an environment that favours the development of innovative financial solutions based on blockchain and cryptocurrencies, enabling Colombia to position itself as a benchmark in the adoption of financial technology.
  4. Regulatory ClarityEstablish a clear framework to enable businesses and citizens to understand their rights and obligations in relation to the use of cryptocurrencies.

An Opportunity for the Future

This joint effort is not only vital for the security of the crypto ecosystem in Colombia, but also represents an opportunity for economic growth and financial inclusion. With proper regulation, it is likely that more Colombians will be attracted to the use of cryptocurrencies, which could result in increased investment and innovation in the country.

As these efforts develop, it is important that both market players and citizens maintain an active dialogue with regulators. The participation of the crypto community in this process will be essential to ensure that the legal framework is not only effective, but also aligns with the needs and expectations of users.

Conclusion

Colombia is on a path that promises to take the country into a new era of interaction with cryptocurrencies. The coming together of banks and regulators is a positive sign that the country is ready to face the challenges and opportunities presented by cryptocurrencies. As regulations are defined, staying informed and participating in the dialogue will be key for all stakeholders in this emerging space.

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Win a free Nerdminer V2! Participate in Minandovoy's exclusive raffle on Instagram! Follow us @minandovoycom.

We are excited to announce our Instagram giveaway, where one of our followers will have the chance to take home an NerdMiner V2.0 Pro. This revolutionary device is your gateway to the world of solo Bitcoin mining. 

What is a NerdMiner V2.0 Pro?

The NerdMiner V2.0 Pro is a hardware device developed by BitMakerdesigned especially for the mining enthusiast. Bitcoin in lottery mode. Unlike traditional miners, the NerdMiner allows you to participate in a lottery every 10 minutes, 144 times a day, giving you the chance to win full block rewards. Best of all, once you set it up, the process is completely automatic.

How does it work?

This device is incredibly easy to use. You just need to connect it to your WiFi network and provide the address of your Bitcoin wallet. With its C-type interface, setup is quick and easy. And don't worry about electricity costs; its power consumption is so low it's practically negligible.

With the NerdMiner V2.0 Pro, you will participate in the Bitcoin lottery every 10 minutes, more than 50,000 times a year! Can you imagine being the lucky one to win one of those prizes? The purchase of the device is a one-time purchase, but the lottery is for life.

How to participate in the raffle?

It is very easy to participate. Just follow these steps:

Follow our Instagram account @MinandoVoy.

Like the raffle post.

Tag three friends in the comments who would also be interested in participating.

Share the post on your Instagram story and don't forget to tag us so we can see it or, if your profile is private, send us a screenshot via DM.

The draw will start on Monday 5th August and will run until Monday 12th August. The winner will be announced on our Instagram account on Tuesday 13th August.

Do you dare to try your luck?

This is your chance to become a Bitcoin mining expert. Participate in our giveaway and take your crypto adventure to the next level with NerdMiner V2.0 Pro.

Don't let this opportunity pass you by! Follow us on Instagram, enter the raffle, and get ready to mine and win great prizes.

The End of Central Banks? Lyn Alden Reveals the Secret to Getting Countries to Adopt Bitcoin as a National Currency

In a recent interview with investor Scott Melker, renowned economist and Bitcoin advocate Lyn Alden shared her views on how countries can begin to integrate the standard. Bitcoin in their financial systems. This approach, according to Alden, could pave the way for digital currency to replace central banks in the not-so-distant future, especially in a context where US debt has reached an all-time high of $35 trillion.

A Progressive Transition to Bitcoin

Alden suggests that governments interested in adopting the Bitcoin standard, a concept popularised by economist Saifedean Ammous in 2018, could start by incorporating small amounts of Bitcoin (BTC) into their national reserves. This first step would allow countries to familiarise themselves with the cryptocurrency and begin building a decentralised financial infrastructure that, in the long run, could serve as an alternative to traditional fiat currencies and central banks.

Creating an Enabling Environment for Bitcoin

In addition to integrating Bitcoin into national reserves, Alden advocates the creation of favourable policies that encourage the use of BTC in the everyday economy. This could include eliminating taxes on small transactions made with the cryptocurrency, thus facilitating its acceptance as a medium of exchange or even as legal tender.

Challenges and Opportunities for the Bitcoin Standard

While Alden acknowledges that global adoption of Bitcoin as a universal reserve asset is still a distant goal, he stresses the importance of moving forward gradually. According to the analyst, as the cryptocurrency market expands and more technological infrastructure is developed around Bitcoin, the chances of Bitcoin replacing central banks will increase significantly.

The US Debt Crisis as a Catalyst

Rising US debt and its financial implications are accelerating interest in Bitcoin at both the institutional and governmental levels. Alden notes that, amid the country's fiscal difficulties, assets such as Bitcoin are gaining ground because of their liquidity and the confidence they generate in the face of the eroding value of the dollar.

Growing Support among Influential Figures

Lyn Alden is not alone in seeing the US debt crisis as a driver for Bitcoin adoption. Other influencers such as Jack Mallers, Ray Dalio and Mike Novogratz have also pointed out that concerns about inflation and loss of confidence in the dollar are leading more people to consider Bitcoin as a viable alternative.

In a further twist, presidential candidate and long-time Bitcoin critic Donald Trump has recently voiced his support for the cryptocurrency, promising that, if he becomes president, he will include Bitcoin in the country's reserves. Should this come to fruition, the United States could follow in El Salvador's footsteps and become one of the first major countries to adopt the Bitcoin standard, which could trigger a domino effect in other nations.

Conclusion

As global economies face increasing challenges, Lyn Alden's proposal offers an innovative path for countries seeking decentralised and apolitical alternatives to traditional financial systems. With a gradual approach and supportive policies, the Bitcoin standard could become a reality for more nations in the near future.

IceRiver launches new AL0 miner for Alephium, what about KS0 for Kaspa?

The renowned brand Ice River is proud to announce the launch of its latest product, the AL0. This new device is an adapted version of their successful KS0 model, designed specifically for the mining of Alephium (ALPH). The AL0 promises to revolutionise cryptocurrency mining with its impressive capabilities and efficiency.

AL0 miner characteristics

The AL0 retains the same technical specifications as the AL0. KS0The power consumption is 100W, with a mining power of 400 GH/s. However, its Alephium-optimised design allows it to generate significantly higher revenues. With a daily mining capacity of approximately $22 in Alephium, the AL0 can generate up to $600 per month, compared to the $1.20 per day or $35 per month that the KS0 generates mining KaspaThe same amount of energy is consumed and the same Gigahertz power is delivered.

What is Alephium (ALPH)?

Alephium is a fully functioning layer one blockchain with sharding, designed to address the scalability, accessibility and security challenges faced by today's blockchains. It is an ideal platform for both developers looking to build scalable decentralised applications (DApps) and individuals interested in decentralisation and security.

Alephium's innovative technologies

  • ScalabilityBlockFlow: Uses the BlockFlow fragmentation algorithm to improve scalability, allowing parallel transactions and achieving around 10,000 transactions per second.
  • Energy efficiencyProof-of-Less-Work (PoLW) consensus mechanism that adjusts the mining difficulty in real time, significantly reducing energy consumption compared to other Proof-of-Work (PoW) algorithms.
  • Programmability and securityUnspent Transaction Output (UTXO): By applying the Unspent Transaction Output (UTXO) model, Alephium improves the security and efficiency of transactions.
  • Virtual machine and programming languageIt has its own virtual machine and a programming language optimised for smart contracts, providing superior security and performance.

More about the Alephium project

Alephium is designed to solve some of the most pressing problems of traditional blockchains, such as scalability and security. The blockchain uses an innovative model that combines UTXO with sharding, enabling efficient and fast transaction processing. This structure facilitates the creation of decentralised applications and smart contracts that are both scalable and secure.

Proof-of-Less-Work (PoLW) is a significant advancement in the field of cryptocurrency mining, as it adjusts the mining difficulty based on real-time network conditions, resulting in much lower power consumption without sacrificing security or performance. This makes Alephium an attractive option not only for DApp developers but also for miners looking for a more sustainable and efficient solution.

Alephium also stands out for its commitment to energy efficiency and sustainability. The use of PoLW and the sharding structure make Alephium more efficient than many other blockchains that rely on traditional Proof-of-Work. In addition, the combination of UTXO with sharding allows Alephium to handle a high volume of transactions efficiently, ensuring both speed and security of transactions.

With these innovative features, Alephium provides a blockchain platform that is not only scalable and secure, but also energy efficient, opening up new possibilities for the development of robust and reliable decentralised applications.

The Antminer DR7 adventure: a risky gamble or a golden opportunity?

In the dynamic world of cryptocurrency mining, Bitmainthe renowned technology company, has launched a new miner on the market. ASICthe Antminer DR7. This miner, designed to extract the cryptocurrency SC Primehas generated a lot of excitement among mining enthusiasts. However, before embarking on this adventure, it is crucial to take an in-depth look at the features, risks and potential benefits offered by the Antminer DR7.

A change of direction: SC Prime and its new algorithm

A key defining aspect of the Antminer DR7 is its focus on mining SC Prime, a cryptocurrency that has undergone a recent change in its mining algorithm from Blake2b to Blake256 R14. This modification has generated some confusion among potential buyers, as the miner was initially associated with mining Siacoin (SC). It is important to note that this information is erroneous and the Antminer DR7 is not designed to mine SC.

Risk and speculation: Is it worth the gamble?

The SC Prime market, while showing growth potential, is still relatively small and liquidity is limited. This means that selling mined cryptocurrencies could be complex and their value could fluctuate significantly.

Uncertain returns: A difficult calculation

The profitability of Antminer DR7 is a complex aspect to determine accurately. The recent change in the mining algorithm, coupled with the lack of historical data and market volatility, make it difficult to make accurate calculations of long-term profitability.

Attractive price, but with caution

The starting price of the Antminer DR7, is €2200. While this figure may seem attractive, it is crucial to remember that this is a significant initial investment. It is essential to carefully assess the risks and potential returns before making such an investment.

Potential opportunities for the Antminer DR7

Despite the above risks, the Antminer DR7 also presents some potential opportunities:

  • Potential growth of SC Prime: If the SC Prime ecosystem experiences significant growth in the future, mining demand could increase, which could benefit Antminer DR7 owners.
  • Low initial competence: As a relatively new miner specialising in a specific algorithm, the Antminer DR7 may face less initial competition compared to other ASIC miners.
  • Possibility of revaluation: If the value of SC Prime increases significantly in the future, the value of the Antminer DR7 could also increase, even if its mining profitability decreases.