Brazil Gives The Green Light
It's a relief to see promising news in regards to nation-state adoption, despite all the headwinds bitcoin has faced recently. 
đź“ť Today's Rundown
  • 🇧🇷 Accepted As Payment: Brazilian lawmakers have approved a complete regulatory framework for crypto, regulating the use of bitcoin as payment.
  • 🧠 Free Mind: The use of technology will give humans more time to practice mindfulness and do the things they want to do, without having to worry about making ends meet.
  • ⚡ Scalability: A data-driven exploration proving that Lightning scales bitcoin payments beyond Visa and that second-layer innovation is the way.
What’s happening and what’s next for Bitcoin after the FTX collapse? Hear from Robert Breedlove, Kevin O’Leary, Yuga Labs, and more at Benzinga’s Future of Crypto conference, on Dec 7 in NYC. Tickets are selling fast! Get 20% off with code BITCOINMAG at bz-crypto.com.
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🇧🇷 Accepted As Payment

Brazil Approves Bill Regulating Use Of Bitcoin As Payment
By Namcios

Brazilian lawmakers have approved a complete regulatory framework for the trading and use of bitcoin and cryptocurrencies in the country.

The bill applies broadly to a sector which it calls “virtual assets,” and now only needs the President’s signature before it becomes law. It does not make bitcoin or any cryptocurrency a legal tender in the country.

Although the steps are going in the right direction and it's moving towards bitcoin being accepted for transacting, it wasn't all good news. A clause that sought to cut some state and federal taxes on purchases of bitcoin mining machines was rejected.
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🧠 Free Mind

How Bitcoin And Artificial Intelligence Will Free Your Time
By Sidney Bright

Technology can be very beneficial, but at the same time, it can also be destructive. Many reading this article may agree that we are moving toward an automated world, where humans are no longer forced to work to survive, but some may see that as dangerous. Technology has always been and will always be a double-edged sword.

Some may view this world as dystopian, full of lazy individuals who have no purpose and live unhealthy lives, being absorbed in their virtual worlds removed from reality. But for others, technology is guiding us to a world where a mindful state of being is finally possible.

We are told that thinking will bring us to the truth, and not that thinking is for fools. Yet, one who meditates will learn to experience and understand the world for what it is, rather than simply theorizing. Intellect is the talent of the computer, while wisdom is the talent of life.
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đź“° The Daily Bits
1. The latest version of Bitcoin’s original software client brings improvements on usability, privacy and security. Here’s all you need to know.

2. Despite academics’ wishes, Bitcoin cannot be reduced down to a mysterious jargon-laden tulip mania.

3. Bitcoiners stand on the precipice of great change, built upon a distributed code that builds common values.

4. Bitcoin is the best store of value when compared to other asset classes that have historically been used by people wanting to protect their wealth.

5. The incentives of the fiat system have broken charitable giving, but Bitcoin offers a chance to make real impact without virtue signaling.

6. After a week in El Salvador, it’s clear that state-run Bitcoin adoption is a slow but critical foundation for revitalizing the country.

7. The Electrum wallet allows Bitcoiners to interact with the protocol in ways that do not limit users or sacrifice more detailed features for a friendlier interface.
 
Learn More!

⚡ Scalability

Data Shows That Bitcoin’s Lightning Network Has Solved The Scalability Problem
By Stanislav Kozlovski

Blockchains suffer from an inherent limitation which forces a choice between three qualities:

  • Decentralization: not controlled by any single party or a small number of elites.
  • Scalability: scale to a sufficient number of transactions.
  • Security: not be easy to attack and break its invariants.

Bitcoin’s main layer is slow for a reason. It explicitly picked to optimize the “security” and “decentralization” sections of the trilemma, leaving “scalability” (transactions per second) on the sideline. This “lack of scalability” is one of the most common critiques waged against Bitcoin by both gluttonous cryptocurrency competitors and incumbent establishment actors. But in reality, this feature is what makes Bitcoin the most secure and decentralized network in the world.

The author of this article demonstrates how the Lightning Network, as a Layer 2 solution, most elegantly solves the scalability problem by both preserving all of Bitcoin’s benefits while at the same time scaling it way beyond what any base-layer solutions promise.
Read Full Article
Modern day alchemy, unsurprisingly, failed. The latest Special Edition Report from Bitcoin Magazine PRO offers a deep dive into FTX and the events leading to the collapse of the now notorious crypto exchange.
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By Relai

There is only one way to achieve freedom of transactions, and that is with Bitcoin, not CBDCs. Opt out!

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