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Those who hold bitcoin recognize the importance of taking control of their own freedom. A second passport might be the next step. This is an opinion editorial by Jessica Hodlr, the COO of Plan B Passport. The rise of Bitcoin and the demand for second passports may seem like two unrelated phenomena, however, there is [...]
The post Seeking Freedom, Bitcoiners Should Consider Second Passports appeared first on Crypto Breaking News.
The 2022 bear market has been brutal as more than $2 trillion in value has been wiped away from the crypto economy. In addition to record values lost, the crypto winter has managed to break a number of popular bitcoin price models like the rainbow price chart and Plan B’s infamous stock-to-flow model. Moreover, since More
The post Rainbows, Log Charts, and S2F: Bitcoin’s 2022 Bear Market Has Broken the Community’s Most Popular Price Models appeared first on BTC Ethereum Crypto Currency Blog.
The City of Lugano in Switzerland, the most important Italian-speaking city outside of Italy, is not playing around. The goal of their “Plan B” is to “make Lugano the blockchain hub for the entire Europe,” according to Tether’s Paolo Ardoino. And it will probably succeed. The city wants to attract investment and talent, attract wealth and smart minds, and they’re putting their money where their mouth is. Why do they have to brand their plan using bitcoin’s name, though? In NewsBTC’s previous article about the project we were very critical, and even raised the possibility of this being an affinity scam. Bitcoin name is heavily used in all promotional materials, but the protagonists talk about blockchain and crypto like there’s no tomorrow. Why would Tether Ltd. and its partners not make this a crypto project and call it a day? We closed said article giving them the benefit of the doubt: “And here comes the Mayor of the city of Lugano and Tether to sing bitcoin’s praises. A “blockchain not bitcoin” guy and the organization behind the most controversial stablecoin. Even though it’s suspicious, let’s give them the benefit of the doubt and hear what they have to say. They might surprise us at the March 3rd conference. Maybe Lugano has a Plan B after all.” Do they have a Plan B? Let’s find out. Bitcoin Legal Tender In Lugano. And USDT. And LVGA The story’s headline is that Bitcoin, Tether, and LVGA, the city’s own cryptocurrency, will be legal tender in Lugano. Residents will be able to “pay all personal and corporate municipal taxes” in any of those cryptocurrencies. Besides that, the city’s authorities have already onboarded 200+ shops and businesses to accept them. There’s more though. You’ll be able to use bitcoin, USDT, and LVGA to pay for: public services, parking tickets, dog taxes, ID and passport issuance fees, naturalization fees, construction permit fees, boat docking fees, tuition and meal fees, garbage taxes, signature authorization, access to public infrastructure, access to public events, rental spaces for events, and cemetery taxes. Who Presented The News And What Did They Say? The panel consisted of: Michele Foletti, the city’s Mayor, who spoke in Italian. Jan Ludovicus van der Velde, CEO of Tether, who spoke via video. Pietro Poretti, economic development division for the City of Lugano. Paolo Ardoino, CTO of Tether The Mayor said that “Lugano is, historically, a land of technological innovation and freedom.” He believes that “Bitcoin, blockchain, and crypto” should be “disseminated and accessible to all.” And he’s convinced “that this journey will bring benefits to all the citizens and that’s why this is our commitment.” Jan Ludovicus van der Velde briefly recapitulated bitcoin’s history and talked about the value of open-source software. About cryptocurrencies, he said that while the adoption is wide scaled, in practice, “we lack the ability to exchange with the local bakeries and tailors. We lack the ability to pay for higher education or automobiles. We’re stuck waiting for the world to catch up to the future of financial freedom.” About “Plan B” specifically, van der Velde said, “We envision blockchain touching every facet of this city.” NEW: Switzerland's City of Lugano will "roll the red carpet" for #Bitcoin businesses and enthusiasts ?? pic.twitter.com/2hujg4V4wm — Bitcoin Magazine (@BitcoinMagazine) March 3, 2022 Paolo Ardoino stated that “with this Plan B we want to show that the tooling, the instruments, that we’re creating can be actually put to work in a local, controlled, vibrant environment like the City of Lugano.” While Pietro Poretti said that the plan was to “create the ideal conditions for companies to thrive.” They both carried the conference and announced everything else in this article. Ardoino also explained why they chose Lugano. Among other things: It’s in the center of Europe. Switzerland is safe and secure. The city is near big airports. It has forward-looking institutions and administration. BTC price chart for 03/04/2022 on Coinbase | Source: BTC/USDT on TradingView.com What Does Lugano ‘s “Plan B” Consists Of, Exactly? The only mention of something bitcoin-specific goes to Paolo Ardoino, who sang the Lightning Network’s praises and expressed his wishes for Lugano to be the “first wide adopter.” We know he meant after the legendary Bitcoin Beach in El Salvador, of course. Ardoino also announced a 100 million CHF fund “for start-ups that want to relocate here and want to put their headquarter here.” “Infrastructure partners like Polygon” made the fund possible. One of USDT’s versions runs on the Ethereum Layer 2 chain, and in this conference, we learned that LVGA, the city’s coin, also runs on Polygon rails. Besides that fund, Lugano’s “Plan B” consists of: A “Start-up hub for 25+ innovative companies” A “space for meetups and workshops open to the public.” “3+ million CHF investment into practical grassroot blockchain projects” “500+ student grants for education in bitcoin and decentralized technologies.” According to Poretti, this whole thing isn’t possible without “synergy with academia.” Announcing The Bitcoin World Forum From October 26th to 28th, at Lugano’s Palazzo dei Congressi, there will be a huge conference. So far, the confirmed speakers are Blockstream’s Adam Back, bitcoin ambassador Samson Mow, and the controversial Max Keiser. More guests are to be announced. Keep your eye on NewsBTC for following stories about the Bitcoin World Forum and Lugano’s “Plan B.” Featured Image: Lugano's Plan B announcement, screenshot from the video | Charts by TradingView
There’s a lot of crypto TA’s on Twitter but do you ever wonder who you should actually trust? Here we break down our top five. The crypto world seems to go by so quickly, its a 24 hour, seven days a week market that never takes a break. For investors and traders, it’s hard to […]
The post Five Crypto Technical Analysts You Need To Follow appeared first on CryptosRus.
Plan C’s latest Bitcoin on-chain data should get crypto investors bullish on what’s to come for the overall market. Covered: Bitcoin Traders Finish Taking Profits Weak Hands Capitulated Bitcoin Price Action Update The crypto markets are looking green after the Federal Reserve meeting on Wednesday. After dropping down to a low of around $46,500, Bitcoin […]
The post Plan C Drops Fresh Bitcoin On-Chain Data That Signals Incoming Bullish Rally appeared first on CryptosRus.
Read Thursday's breaking news in the daily digest
If the accuracy of the crypto market movement predictions are something you have ever wanted, then the infamous pseudonymous Bitcoin analyst Plan B should come to mind going by his recent predictions in which three out of four met the target.
The post Despite missed prediction, ‘Plan B’ sticks to Bitcoin target of $100,000 appeared first on CryptoSlate.
As Bitcoin nears the end of September, which according to the Stock-to-Flow creator, Plan B, has a worst-case month end “floor of 43k”, whale activity is going absolutely nuts. Data shows that whales are exhibiting very peculiar behavior in terms of the amount of BTC they are moving. Plan B basically predicted in late June […]
The post Bitcoin Whale Volume is at an All-time High: What Does it Mean? appeared first on CryptosRus.
The biggest property developer in China, Evergrande, seems to be on the verge of collapse. They apparently owe $300B. Is bankruptcy on the table? There’s a better question, though. Is Evergrande the only company in the sector with these kinds of debts? Or is Evergrande just a symptom of a widespread disease? Also, how does this relate to Bitcoin? Do we present a valid case in the following article? Is this “China’s Lehman moment,” as the pseudonymous Bitcoin analyst suggests? Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course What we know for sure is that “China’s major banks have been notified by the housing authority that Evergrande Group won’t be able to pay loan interest due Sept. 20,“ according to Reuters. Plan B’s comment sets the tone, and the video shows the intensity of the situation: China's Lehman moment. The money printing will be massive, I repeat MASSIVE! This is good for #bitcoin https://t.co/lAdSMhnk3L — PlanB (@100trillionUSD) September 15, 2021 Check yesterday’s date. Well, on September 15th, 2008, Lehman Brothers filed for bankruptcy. Let’s quote Investopedia for a quick recapitulation. “At the time of its collapse, Lehman was the fourth-largest investment bank in the United States with 25,000 employees worldwide. It had $639 billion in assets and $613 billion in liabilities. The bank became a symbol of the excesses of the 2007-08 Financial Crisis, engulfed by the subprime meltdown that swept through financial markets and cost an estimated $10 trillion in lost economic output.” Is China living through a similar situation right this minute? How Did China Evergrande Get Here? A few days ago, on September 13th, the South China Morning Post seemed cautiously optimistic about the situation. They explained the root of the issue: “Reports about missed payments to contractors, attempts to reschedule payments on wealth management products, and failure to sell assets have prompted Chinese regulators and the central bank to intervene to prevent a shock to the financial system.” At the time, the big news was that they hired “Houlihan Lokey and Hong Kong-based investment bank Admiralty Harbour Capital to assess its capital structure, evaluate the liquidity and explore ways to ease its current liquidity crunch.” And you know what that meant: “Hiring such financial advisers means Evergrande has come to a serious stage of listing what it owns, what it owes and what are the best plans” to extricate itself, said Lung Siu-fung, an analyst with CCB International. The writing was on the wall. Evergrande price chart on HKEX | Source: 3333 on TradingView.com Where Are We Now? Is China Really In Trouble? Apparently, China Evergrande was caught in a loop. The company was pre-selling apartments and using that money to fund other projects, in which they also pre-sold the apartments and the cycle started again. Evergrande bonds are suspended, and there’s a chance they won’t be active ever again. They might be worthless. The stock is near its all-time low, it has lost nearly 80% of its value this year. Completing the story, CNBC informs: “The company warned investors twice in as many weeks that it could default. On Tuesday, Evergrande said it’s at risk of a cross default, which means such risks could spill into other related sectors. Evergrande said Tuesday its property sales would continue to deteriorate significantly this month, adding to its severe cash flow problems.” Is there a possibility that Evergrande’s problems are the symptom of a widespread disease? That’s the $1M question. Is China’s real state sector really in trouble? For that answer, we have to go to ZeroHedge’s report: “Country Garden, the nation’s largest developer by sales, plunged 16% in the past two days, while Gemdale slumped 12% as a gauge of property shares in Shanghai tumbled almost 5% in the period, with valuations firmly below book value. Following the news, Guangzhou R&F Properties drops 10.8% to the lowest since Dec. 2008 while Greentown China -9.1%. At this point, one can safely call it a crisis.” How Does Evergrande Relate To Bitcoin? China’s Bitcoin policy doesn’t make sense. Regulating themselves out of the leadership position in the most important industry of our times is beyond comprehension. There has to be something else going on. We at NewsBTC have been on the case. We explored the Digital Yuan CBDC angle. We looked at ads selling small hydropower stations. We discovered China’s dominance over the Bitcoin hashrate was waning before the ban. And we detailed the so-called new “China Model.” The guaranteed outcome of fractional reserve banking: Impairment of promises. It's just a matter of when and at what magnitude. The impairment of credit will cascade to other balance sheets unless central planners debase the currency via QE, UBI, and/or debt forgiveness. BRRRRR — Preston Pysh (@PrestonPysh) September 15, 2021 Under Plan B’s original tweet, two comments attract attention. Investor and podcaster Preston Pysh feels that the situation is “The guaranteed outcome of fractional reserve banking: Impairment of promises. It’s just a matter of when and at what magnitude.” And the person behind Documenting Bitcoin goes conspiratorial and says, “They knew this was coming. Perhaps this is why they “banned” bitcoin.” That, as you might imagine, opens a huge can of worms. Related Reading | Since China’s Mining Ban, Bitcoin Hashrate Has Recovered by 68% And Counting Full of confidence, Plan B responds, “Yes, and they closed the exits, typical they always do that.” Bad for the people in China but, in general, bullish for Bitcoin. To recap: the government saw this coming from a distance. They knew the crisis was going to repeatedly hit the country and banned Bitcoin mining to scare the population into not buying the hardest asset ever created. Bitcoin, the true hedge against the collapse of every economy. In any case, the Chinese government will probably try to print its way out of this one. And somehow it’s going to use this crisis to unveil their Digital Yuan CBDC. Does the theory sound coherent to you? Or is there even more to this story? Featured Image by Li Yang on Unsplash - Charts by TradingView
In March 2022, Swiss city Lugano announced its plan to become crypto capital. How are they doing the year after?
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