Hello Humble Bitcoiners!
Welcome back to your daily dose of Bitcoin signal. |
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| 📝 Today's Rundown Back On Track: El Salvador to fix numerous problems with its Chivo wallet and help citizens adopt Bitcoin. Pay In Bitcoin: Southeast Asia's largest online marketplace is now accepting bitcoin for its apparel. Proof Of Reserves: Emerging from a niche concept into a fledgling industry standard. |
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How El Salvador Is Fixing Chivo Wallet, Trying To Get Bitcoin Adoption Back On Track
By Jaime Garcia Chivo is the official bitcoin wallet of El Savador, the first country using bitcoin as legal tender. Unfortunately, when the Bitcoin law came into effect, thousands of thrilled Salvadorans expecting to download the software to experience how would it be to transact with a decentralized and unstoppable monetary system came across download delays, challenges in the identity verification process and problems transacting over the Lightning Network.
Fortunately, later on, El Savador’s government started working with AlphaPoint, an experienced blockchain and financial services technology company and, as a result, Chivo wallet infrastructure is now overall stable and fully functional. Many well-known issues have been addressed and numerous upgrades were made to enhance the user experience. Now the biggest challenge to Bitcoin adoption in El Salvador is to rebuild trust with users who may have had a bad experience early on. |
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Southeast Asia's Largest Online Sneaker MarketPlace Now Accepts Bitcoin
By Shawn Amick Novelship, Southeast Asia's largest online marketplace for authentik sneakers, apparel and collectibles, is now accepting bitcoin and other cryptocurrencies as payment. As the company saw the demand of its users for the availability to pay in digital currencies and the benefit that might come with it, they decided to step into the rising alternative movement for digital payment methods.
The innovation was made possible through a partnership with TripleA, a cryptocurrency gateway for businesses licensed by Singapore's central bank and the Monetary Authority of Singapore.
“At Novelship, we like to have our finger on the pulse by not only being open to adopting new technology and innovation onto our platform but also by actively listening to our users”- Richard Xia, Novelship CEO |
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1. For maximum adoption, the industry needs accountants who understand bitcoin and know its tax implications.
2. A recent event by blockchain surveillance firm Chainalysis explained how its tools are used and raised questions about whether they should be.
3. Congressional candidate Taylor Burke discusses advocating for Bitcoin as a U.S. politician.
4. Meet Cathedra, a promethean Bitcoin Miner focused on killing the petrodollar.
5. While the executive order didn’t directly challenge Bitcoin, the language of the order hints at future threats that may come.
6. Bitcoin is the answer to what was actually a deceptive claim of price stability, as no such thing exists in a fiat monetary system.
7. A true mechanism of freedom shall guide a Bitcoin Magazine author and pleb to various meetups across America.
8. Last month, the top public bitcoin miners increased their hash rates and bitcoin holdings. |
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Proof Of Reserves - The Making Of A Bitcoin Industry Standard
By Mario Gibney One of Bitcoin’s main goals is to reconstruct the monetary scheme and allow you to become your own bank so that you and only you can exercise any kind of power over your capital. If Bitcoin is going to become the standard for the world's financial system, there will be custodians. There will always be lenders, exchanges and yield service providers that will be required to hold Bitcoin on behalf of clients.
Fortunately, Bitcoin is a publicly verifiable asset and it is totally auditable. This allows users to demand transparency from Bitcoin service providers so that they periodically publish undeniable proof of the asset reserves in their possession. Proof of Reserves is a concept that has been growing in popularity and has become a feature that clients can, and should expect from any Bitcoin company.
Instead of resigning ourselves to the risks inherent in custodial models, we can strive to standardize solutions and mitigations to alleviate those risks and ultimately help to drive faster and broader adoption. |
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| In this episode of Bitcoin Magazine LIVE: An interview with Guy Swann An episode of The Break Up with Nolan Bauerle An episode of The Deep Dive with Dylan LeClair Don't forget to LIKE & SUBSCRIBE. |
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By Plan Marcus
Not so long ago, in 1971, Richard Nixon broke the convertibility of gold and the U.S. dollar. Since then, we have been living through an experiment of depreciation.
"What are you going to do? There is a 100% certainty that you are going to lose 80% of your money on most currencies over the next decade." – Michael Saylor
Protect your money with Bitcoin.
With love,
Bam |
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