Monthly Archives: May 2022

The Future Looks Bright For Bitcoin

Bitcoin adoption around the world is taking shape. Some examples from Bitcoin 2022 offer a window into how Bitcoin is helping people in emerging markets. It was an honor to take part in this year’s Bitcoin 2022 Conference in Miami. The inspiring conversations that took place at the convention center are what fuels the work we do. The discussions that really spoke to me were those centered around education and global Bitcoin adoption. I emphasized this point during the panel on “Building Lightning-Focused Companies:” Everything we do […]

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Uganda Central Bank Tells Licensed Entities to Stop Facilitating Crypto Transactions

The Ugandan central bank has warned licensed entities and the public against facilitating crypto-related transactions as well as the practice of converting cryptocurrency into mobile money and vice versa. The central bank warned it will not hesitate to act against entities found to be in breach of the country’s laws. No Entity Issued License to Trade Cryptos The central bank in Uganda recently issued a statement reminding the public that no business is licensed to offer or facilitate cryptocurrency-related services. The statement warned licensed entities to end […]

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A Modest Bitcoin Improvement Proposal, Proposal

Decentralized consensus is required to make changes to the Bitcoin code. Clear processes, standards and norms can ease decision-making in the future. This is an opinion piece about BIP119 (OP_CTV). If you would like to submit a counter argument, please email Bitcoin Magazine. We’ve Got A Problem Decentralized consensus isn’t easy. There’s a reason most companies have CEOs, and “non-hierarchical” organizations tend not to function well for long. Bitcoin’s decentralized governance is harder still: On top of decentralization, we layer a relative lack of official processes, standards […]

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MicroStrategy may explore ‘future yield generation opportunities’ on 95,643 BTC holdings

As of March 31, MicroStrategy held a total of 129,218 BTC, which the firm reported had a carrying value of roughly $2.9 billion. Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy. In MicroStrategy’s report for the first quarter of 2022 released on Tuesday, the firm said it “may conservatively explore future yield generation opportunities on unencumbered MacroStrategy bitcoins” as a consideration following a $205 million BTC-collateralized loan issued by Silvergate Bank in March. […]

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Ex-Fed vice-chair Quarles has lost none of his fervor in opposing US CBDC

The former Federal Reserve official once again expressed his opposition to a United States central bank digital currency in a Tuesday podcast. Former United States Federal Reserve vice-chair for supervision Randal Quarles discussed central bank digital currencies (CBDC) and the chances of the U.S. adopting such technology in an interview on the “Banking With Interest” podcast Tuesday. Quarles, who is known for his opposition to a CBDC, expressed his skepticism about the so-called digital dollar and predicted the U.S. will not introduce it. Quarles, who served at the […]

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Report: 100,000 Cubans Are Using Cryptocurrencies to Bypass Financial Sanctions

On May 2, 2022, a report stemming from the broadcast television and radio network the National Broadcasting Company (NBC), 100,000 Cubans are leveraging crypto assets. The report says increased crypto usage is due to the fact that Cubans cannot use certain payment vehicles due to the sanctions placed on Cuba by the United States. 100,000 Cubans Bypass Payment Bans via Crypto NBC has published a video report that indicates roughly 100,000 Cubans are using digital currencies like bitcoin. For instance, one particular Cuban cafe owner, Nelson Rodriguez, […]

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Bitcoin Is Venice: The Merchant Strikes Back

A long time ago, in an economic environment far far away, the merchant controlled their own financial destiny — so they shall soon again. Get the full book now in Bitcoin Magazine’s store. This article is part of a series of adapted excerpts from “Bitcoin Is Venice” by Allen Farrington and Sacha Meyers, which is available for purchase in Bitcoin Magazine’s store now. You can find the other articles in the series here. “No intelligent student of modern events can possibly have overlooked the vast change which […]

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Markets are weak, but ALGO, FXS and HNT book a 20%+ rally — Here’s why

Algorand, Frax Share and Helium staged brief double-digit rallies in an otherwise stagnant market, thanks to a major partnership and new project developments. Large-cap cryptocurrency continue to slump as investors await comments from the Federal Open Markets Committee regarding the exact size of the next interest rate hike. There are, however, a few bright spots in the market and select altcoins managed to post double-digit gains in trading on Tuesday thanks to a big-time partnership announcement and cross-protocol collaborations that led to a spike in demand. Data […]

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Sen. Lummis teases upcoming crypto bill, says NFTs won’t be included in it

The senator spoke about the importance of definitions and weeding out nonviable altcoins for her comprehensive bill on cryptocurrency. United States Senator Cynthia Lummis appeared on a livestream hosted by Axios on Tuesday to tease the highly awaited bill on cryptocurrency she is authoring. The Wyoming Republican said the bill will be introduced as “one big piece so people can see the big picture” and be broken down into five or six components for consideration by the appropriate congressional committees. The bill, which Lummis is expected to […]

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Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble

A report published on May 2 by the rating agency Weiss Ratings warns that crypto-backed mortgages “spell risk.” Weiss editor Jon D. Markman said backing a mortgage with crypto is an “interesting strategy,” but stressed that during these market conditions “investors should be skeptical.” Weiss Ratings Editor Doesn’t Believe Crypto and Mortgages Mix According to the editor at Weiss Ratings, Jon D. Markman, lenders who allow people to use crypto to back a mortgage might be adding more risk to current market conditions. Markman uses the firm […]

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