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Bitcoin And El Salvador Roundup: How BTC Became Legal Tender, A New BTC Wallet, BitGo, And More Bitcoin and El Salvador saw one of the most important moments in their history take place last week when the country passed a law making Bitcoin legal tender. Starting with a new BTC wallet to how the groundwork was laid to make BTC legal tender in El Salvador, let’s look at some of the biggest developments over the past week. El Salvador has made history by becoming the first government to adopt Bitcoin, with help from Bitgo that is behind the technology that is powering the entire effort. The South American country had outlined its intentions about adopting BTC in June, with president Nayib Bukele announcing the decision on his official Twitter handle. The bill for the Bitcoin law was passed after 62 out of a total of 84 Congressmen voted in favor. El Salvador will also be looking at sustainable bitcoin mining, exploring renewable energy use for Bitcoin mining. After adopting BTC as legal tender, El Salvador will be using the official Chivo digital wallet, which will be provided by Bitgo, a crypto custody firm based out of California. Bitgo will provide the Chivo security platform and the application programming interface. Since its founding in 2013, Bitgo has become one of the most valuable blockchain companies, offering multisig wallets and custody services for Bitcoin. Mike Belshe, CEO and Co-Founder of BitGo, commented on El Salvador’s decision, stating, “Digital assets look so different from what we’ve seen with other types of money, and so people wonder about how [they] fit in, but this is an opportunity to build financial freedom for the people of El Salvador.” Several reports have stated that the Chivo Wallet could cost money service providers such as MoneyGram and Western Union to lose around $400 Million in commission made due to remittances. With remittances making up over 23% of El Salvador’s GDP, money service providers such as MoneyGram and Western Union were the preferred method of transferring the remittances. However, the Chivo wallet could change all that. Whistleblower and privacy activist Edward Snowden weighed in with his thoughts on the possible implications of the Bitcoin law. According to Snowden, the implementation of Bitcoin as legal tender could put pressure on competing nations to follow suit, with other countries being forced to acquire Bitcoin. He further stated that Bitcoin’s technical design incentivizes early adoption. After the announcement that El Salvador will be adopting Bitcoin as legal tender, the world media has unleashed a barrage on the South American country, drawing the ire of the IMF. Several media reports have come out against the adoption of BTC. According to economist Steve Hanke, the existing system is working perfectly fine. He also backed MoneyGram and Western Union, commenting that they are cheaper and better methods to send remittances.
👀 Today we have a review of the TRACK token. ✔️TRACK is a token of the TRAXIR project that will seriously compete with the VET token in the future. ❗️As you know, the success of any project is its team and its technical performance. TRAXIR is currently in the development stage. We would have liked to know about this token earlier and get to a closed token sale. But we were too late. Now we will wait for the second token sale. We recommend that you also subscribe to their official Telegram channel to follow any updates. 👇👇👇 Telegram - https://t.me/traxir Twitter - https://twitter.com/TraxirO Website - https://www.traxir.com
Fantom Foundation And Bware Labs Announce Collaboration, To Focus On Growing Infrastructure With the collaboration, developers on Fantom have access to Bware services and can now create blockchain APIs that can connect their dApps to the Fantom Network. The entire process of creating blockchain APIs and connecting them to the Fantom network takes less than a minute. The partnership with Bware comes at a time when the Fantom platform is seeing rapid growth, with developers hoping to leverage Fantom’s ability to provide finality in less than a second and almost zero gas fees to help power their decentralized applications. Additionally, there are several projects that have already taken advantage of Fantom’s EVM compatibility, using it to port over their Ethereum solutions. One such example is the Atari Chain. Fantom has seen a significant rise in its on-chain statistics, which reflect the growth that is currently taking place on the Fantom Network. The Fantom has seen an increase of over 5700% in the number of unique wallet addresses on the platform, with Fantom now processing anywhere between 300,000 and 1 Million transactions per day. With such a high and unprecedented rate of expansion, the partnership with Bware Labs gives developers an efficient method of connecting to the Fantom blockchain without investing the time, money, and effort required to engineer and maintain a node. Bware Labs has also enjoyed stellar success during the current year, and the collaboration with the Fantom Foundation has resulted in Bware receiving a grant that can help the protocol in the building of their API infrastructure. The announcement of the collaboration with Bware labs caps off a remarkable and immensely successful summer for Fantom. The company has announced several new initiatives during the current year, including several new partnerships, the integration on the Coinbase mobile wallet, a DeFi focused incentive program worth over $350 Million, and several other initiatives. The partnership with Bware Labs will play a crucial role in the onboarding of new developers and new projects, as the Fantom ecosystem continues to grow, The Fantom protocol is a scalable, quick, and secure EVM Layer-1 compatible platform that is built on a permissionless aBFT consensus protocol. All transactions on Fantom are confirmed in just a second and at an average cost of one cent. The high speed and high throughput, coupled with low transaction costs, make Fantom an ideal platform for DeFi applications and other real-world use cases.
🌱 K-ROOT 🌱 K-Root aims to be the most trusted, secure, transparent, decentralized, compatible smart wallet in the Kucoin Community Chain ecosystem and its upcoming cross-chain partners. 🎊 $KROOT is now officially listed on #PancakeSwap and #KuSwap 🎊 • BSC Contract Address 👉 0x0cd3a8ce155a8d9daaf19e5caa642e72a2a24cd8 • KCC Contract Address 👉 0x1616f9087b6e8be8e3460e4cbdef47515702d7f4 • Pancakeswap Link 🔗👉 https://pancakeswap.finance/swap?inputCurrency=0x0cD3a8Ce155A8d9DAAF19E5caa642e72a2a24Cd8 • KuSwap Link 🔗 👉 https://kuswap.finance/#/swap?inputCurrency=0x1616f9087b6e8be8e3460e4cbdef47515702d7f4 • BSC Chart 📉👉 http://poocoin.app/tokens/0x0cd3a8ce155a8d9daaf19e5caa642e72a2a24cd8 • KCC Chart 📉👉 http://poocoin.app/tokens/0x1616f9087b6e8be8e3460e4cbdef47515702d7f4 • Listing price : $0.005 • Listing MCap : $127.5k Social Channels 👇 🌐 Website - K-root.co 🎪 Telegram - t.me/krootwallet 🗽 Announcement - t.me/KROOT_Ann 🗼 Twitter - https://twitter.com/krootwallet
El Salvador: Government Supporters Dismiss Bitcoin ‘Protests’ With just days to go until bitcoin (BTC) becomes legal tender in El Salvador, resistance to crypto adoption is continuing – while pro-BTC advocates are dismissing opposition to adoption and looking forward to the dawn of a new financial paradigm. Reuters (via Yahoo) aired images of street protests attended by “Retirees, veterans, disability pensioners, and workers,” which the news agency stated were “expressing their concerns that the government would start paying their pensions in bitcoin instead of USD.” The footage showed people carrying signs reading: “No to bitcoin” and “No to corrupt money-laundering.” Some carried placards printed by the left-wing Movement of Popular Resistance (MPR-12) group, while a number of protesters carried a banner that read: “The working class rejects cryptocurrencies. No to bitcoin.” Reuters quoted a member of the Supreme Court of Justice’s workers’ union, Stanley Quinteros, as stating: “We know this coin fluctuates drastically. Its value changes from one second to another and we will have no control over it.” But some dismissed the protests and argued that the media had sought to blow them out of proportion. The conservative commentator Jose Valdez shared a video of a small group of protestors and wrote on Twitter: “The traditional media, which is paid to maintain the status quo, and including international media, are selling ‘protests’ with big headlines… But the reality is this: [The protests amount to] eight people who do not understand what they are opposed to, because they do not even know how it works or what they are they even fighting against.” Felissa Cristales a popular ARENA party opposition MP, who has famously sided with Bukele on a number of matters, sought to play down talk of protests. She wrote: “Remember that the government’s opposition will always complain about Bitcoin. Some because they don’t know what it is and others because they want to defend the interests of the banks. Don’t be surprised by this. On September 7, we will start using bitcoin and the doubts will vanish.” But those who are opposed to the BTC bill will have no doubt taken note of comments from the highest Catholic Church authority in the land – Escobar Alas, the Archbishop of San Salvador – who, in a video shared by La Prensa Gráfica, also expressed crypto doubts. Alas stated that the public “fears” bitcoin adoption. He urged the government to allay such fears by seeking to educate the public and put an end to the “lack of information” provided to ordinary people on the subject. El Salvador’s President Nayib Bukele, meanwhile, was in no mood to focus on voices of dissent – instead taking to Twitter to triumphantly post a promotional video for the state-run Chivo bitcoin wallet, which will roll out on September 7. Some welcomed the news on Twitter, including ElisabettaZacc2, who wrote that she “cannot wait” for the opportunity to use the app to remit money to family in El Salvador without having to pay USD 14 on a USD 100 remittance. Bukele is hoping to transform El Salvador into a center of gravity for the Bitcoin world, and will hope to achieve this by holding a Lightning Network summit in the nation in autumn. The event will be titled Adopting Bitcoin – A Lightning Summit 2021, and its masterminds said that its aim was to “bring together the Bitcoin and Lightning communities,” with a focus on “transitioning 6+ million people onto the Lightning Network.” But Bukele and his supporters might have a few wrinkles to iron out of their BTC adoption plan yet. The media outlet ElSalvador unveiled some of the details of the assistance that the government has requested of the Central American Bank for Economic Integration (CABEI) ahead of September 7.
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✨ Welcome to Manga Token Community ✨ Manga Token is a reward, payment, and staking token for the Manga industry, that can empower manga artists through a new form of digital merchandise called Manga NFTs. These NFTs are made available to collectors through our Manga NFT Marketplace, TROPHEE.XYZ. ⭐️ $MANGA Key Features ► Main currency to buy NFTs on Trophee Marketplace at 0% transaction fees ► Built on the Binance Smart Chain (BEP-20) ► Users can participate in liquidity pools to earn a yield of $MANGA ► Users can vote for their favorite Manga titles with $MANGA ► Reward manga artists & community's contributions ► Stake $MANGA for new Manga-related projects’ IDO on our Manga Project Starter platform 📌Buy $MANGA 🗓 26-08 (2 PM UTC) - Listing on Pancakeswap 🗓 27-08 (Details Here) - Listing on Bitmart 🗓 27-08 (Details Here) - Listing on P2PB2B 👇 Follow Manga Token👇 • Website • Twitter • Telegram Official Channel • Telegram Official Group • Medium
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Starting August 26, 2021, FTX, Raydium and Apollo-X will host the sale of the highly anticipated tokens of the Solana-powered Star Atlas metaverse, ushering in the next era of play-to-earn enabled GameFi revolution. In the two IDOs, additional allocation of ATLAS and POLIS tokens will be available to holders of meta-posters. FTX: https://help.ftx.com/hc/en-us/articles/4405371380116-How-to-participate-in-the-Star-Atlas-Sale Raydium: https://raydium.medium.com/star-atlas-is-launching-on-acceleraytor-fa35cfe3291f Appollo-X https://apollox.paidnetwork.com/project/star-atlas Official Websites: * https://StarAtlas.com * app: https://play.staratlas.com/ Telegram: https://t.me/staratlasgame
Argentine Superstar Lionel Messi NFT Collection Goes Live After Unimaginable Barcelona Exit Lionel Messi has had an eventful summer so far, with the Footballing icon having left his boyhood club to link up with French Superclub Paris Saint Germain. Messi has been busy off the field as well, as he launched his exclusive NFT collection soon after his Barcelona departure. After winning the Copa America with Argentina, Messi is settling in with his new club and teammates while also working on his new venture, which sees him join the likes of Ronaldinho and Gianluigi Buffon, who also launched their own groundbreaking NFTs. The exclusive collection, titled The Messiverse x Bosslogic, has seen Messi team up with Ethernity Chain that has created a “futuristic AI-driven bionic semblance” of the superstar, reflecting all of his achievements, iconic moments, and future accomplishments. Ethernity is very well known, thanks to their collaborations to create collectibles items and rare NFTs with ice hockey legend Alex Ovechkin, Poker star Phil Ivey and musician Nas, and several other rare collaborators. Nick Rose, CEO of Ethernity, described the vision behind the collaboration with Lionel Messi, stating, “Our vision for the collaboration with Lionel and Bosslogic was to merge the physical world with the digital, allowing fans around the world to engage with a coveted collection coming straight from one of the world’s greatest soccer players.” He also went on to stress how important the collaboration with Messi was, going on to say that it was a huge milestone and a dream come true for the team at Ethernity, further commenting, “This collaboration with Lionel was not only a dream come true but a huge milestone for the Ethernity team. Being part of creating the Messiverse with Bosslogic is yet another way to actualize what Ethernity means and what we are working towards as a company.” Lionel Messi’s four-piece collection will be released on Saturday and will be available only for a limited period of time. The price for the collection has not been disclosed yet but will be revealed on the day of the launch. Lionel Messi also released a small statement about the release stating, “Soccer is like art -- it is timeless.” NFTs and cryptocurrencies have recently broken into the world of soccer, with several top clubs in Europe exploring cryptocurrencies to launch fan tokens and increase revenue.
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US Infra Bill Might Prompt Crypto Business Exodus, Treasury Has a Role Too If the controversial US infrastructure bill is passed in its current form, it may force crypto companies to leave the country as there's no way to comply with the new requirements. However, the industry would also depend on the US Treasury as this institution would need to put the vague language into practice. The US Senate passed the bill with the original crypto tax provision this week and now it goes to the House next, which is in recess until September 20. One of the major issues revolves around the use and the definition of the term ‘broker’ for information reporting purposes, as it currently includes node operators, developers, miners, and others who “don't even have access to the information that is needed for tax reporting, and definitely should not be in scope for this reporting,” Wendy Walker, solutions principal at global tax software provider Sovos. According to her, the provision presents a risk to a massive segment of the industry and that the word on the street is that businesses, being unable to continue their operations in the US, would move offshore to a country that doesn’t tax them in this respect should the current language remain. “There's no way that those folks can, not only comply with the requirement, but they won't be able to make a living here doing that,” she said. Moreover, the US is one of the only jurisdictions that require this third party information reporting, with a similar framework being developed by the Organisation for Economic Co-operation and Development (OECD). What’s noticeable in other regimes is more real-time tax validation, which is where the IRS and the US, in general, would like to get to as well, Walker said. “They've talked about [a more real-time tax system] for years.” However, the bill still might change as the pressure is growing in Congress with crypto advocates hopeful of convincing the House of the need to amend. In either case, what we’re further going to see is the legislation focusing on centralized exchanges and custodians for whom it is intended. But none of this will happen overnight, as there’ll likely be a period of proposed rulemaking that could take three to six months, while the implementation could take 18 months to three years. Walker also suggested that there is an interconnectedness on this matter globally. For example, the OECD has been working on a change to the common reporting standards schema to include crypto since before the IRS started working on their issue. And when the OECD heard that IRS was prioritizing this and was going to get some legislative action done, they delayed making their changes, according to Walker. The reason is that “everybody would flock to the US because the US wouldn’t report any non-US transactions. [...] So the idea is that they can't flock to any one country to hide, that everybody will be reporting,” she added.
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Why You Should Pay Attention To Mythical Beings In The NFT Space Non-fungible tokens are a booming industry, as numerous projects continue to gain traction quickly. Mythical Beings, a mythology-oriented NFT collection, is one of the projects that seem to fly under most people's radars. It is a bit surprising, considering how the card packs are very accessible and affordable, and its overall volume is seemingly on the rise. Even though there are many NFT projects on the market today, several of them tend to be successful along with others. That success can be quantified differently, although most people will not look past the overall sales volume. It is crucial to note that sales volume comes in two forms: primary sales from the Mythical Beings smart contract and trades from the secondary market. Any NFT project with an active secondary market usually has a good chance of succeeding. As Mythical Beings revolves around mythological creatures which suddenly appeared worldwide as of June 1, 2021, there is a growing interest in this project. The NFT collection consists of dozens of creatures belonging to cultures from the five continents. Creatures to collect include the yeti or Arab Ifrit, which have a special meaning to the people who grew up with these tales and legends. However, there are also less-known cultures that are represented, creating a highly collectible and educational set of NFTs. Users can acquire the cards by buying card packs. Three different card types exist: common, rare, and epic. Every pack has three cards for $2, which is more than affordable compared to other NFTs on the market. Any duplicates that players earn can be sold through peer-to-peer exchanges, the game's Discord, or the decentralized exchange. However, players may also want to explore the crafting of higher-level cards. Considering how Mythical Beings will have multiple seasons, users have until October 1 to complete the current set. However, users will need to be invited by another player, and there is a limited number of invites to go around. Using Discord for an invite may be the best option to explore, which is accessible through the project's NFT wallet once you register an account. Numbers-wise, Mythical Beings has proven to be rather successful since its launch. The platform notes 149 unique users and 8,316 card sales directly from the smart contract. Those sales are all packs being bought and sold, confirming people are trying to complete their sets before the October 1 deadline. Moreover, there have been 2,074 card sales through secondary markets, which is a more than healthy figure given how new this project is. With a current market cap of $200,000, Mythical Beings is still in the early stages of gaining traction. The volumes are on the rise, as are the overall sales. The team recently concluded an airdrop that awarded up to three free card packs to everyone who participated. These mythological creatures are slowly becoming more common, allowing more players to complete their collections. For those who complete the season1 collection, there is an extra incentive. Every three days, 50% of the smart contract income from Mythical Beings is distributed to all users who completed the set. Additionally, these users can receive one of two copies of the most special NFT in the collection, the Occitan dragon Tarasca. There are only 250 copies of that card, and it distributes 10% of the smart contract income to its holders periodically.
U.S. Government To Tax Crypto Transactions To Fund $1 Trillion Infrastructure Package Lawmakers in the U.S. and President Joe Biden have finalized the details for a $1 Trillion bipartisan package for infrastructure. The plan also contains measures to improve tax compliance and comes with measures that are specifically directed at improving tax compliance around cryptocurrencies and crypto-assets. The bill, described as a “once in a generation” investment in the U.S. infrastructure, also includes $550 Billion in new Federal investment into America’s infrastructure. This will be spent on constructing bridges, roads, high-speed internet, electric vehicles, shipping ports, upgrading public infrastructure, and other areas. The bill also outlines provisions that would enable the government to raise $28 billion from cryptocurrency transactions. The plans to step up tax enforcement around cryptocurrency assets were not originally a part of the bill. However, they were added in at the last minute to raise additional funds for the infrastructure package. The bill includes measures to increase tax enforcement, such as reporting requirements on exchanges and crypto brokerages. According to the bill, exchanges and crypto brokerages will be required to provide all details about cryptocurrency transactions equal to or more than $10,000 to the IRS. Jake Chervinksy of Compound Finance tore into the proposed legislation on Twitter, breaking down the bill to highlight the consequences for the crypto industry. According to Chervinksy, the bill essentially broadens the definition of “broker” to include almost every economic actor involved in the crypto industry. The new draft could also include miners and validators. The bill could cover DeFi markets and participants, too, such as Liquidity Providers, Decentralized exchanges, protocol governors, and liquidators. Chervinksy also highlighted the potential for surveillance, as the tax code mandates that brokers comply with IRS reporting requirements and have to give their customers Form 1099s and file them with the IRS. The form requires that brokers collect customer data, including personal details such as phone number, name, and address. This essentially would mean that brokers will need to verify all KYC for their customers to comply with the IRS reporting requirements, defeating the entire purpose of crypto, whose users are pseudo-anonymous. For non-custodial actors such as miners, it is almost impossible to get the required information required for Form 1099s, which in practice could point to a de facto mining ban in the U.S. The latest crypto legislation is part of a bipartisan infrastructure bill that is highly likely to pass. The bill includes provisions to raise revenue for spending and ensure that it is revenue-neutral. The definition of “broker” has been included as one of the pay-for provisions in the draft of the bill. Revenue can be raised through current taxes, new taxes, or improving tax compliance, with crypto falling into the third category according to legislators, with the “broker” definition set to add $28 Billion in added tax revenue.
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🚀‼️Don't miss the biggest event yet, the introduction of our new board members in an interview with Clayton Morris🔹Morning Invest! Tech Legends from Cellular, Software and Internet, come together to discuss the launch of Internet 2.0 with Core Decentralized Technologies. 🔺Morning Invest is highly watched and one of the most popular financial news shows! ⏱🚀Don't hesitate and take the opportunity to get a CTN at an extremely affordable price during the pre-sale, which ends soon on August 11th. ❗️BUY: coretoken.net / 💎HIDDEN GEM 🔻Current price of CTN is € 0.07 / $ 0.082 (which is according to many opinions undervalued with a huge potential for a +10x increase due to natural high demand in the Core Ecosystem and third party use case integrations) 💥Read the article to understand the potential of CTN: https://medium.com/core-group/a-brief-and-technical-introduction-of-core-token-2dbacddbcc98 ✅COMMUNITY👥 INFO: t.me/coregroupcc CHAT: t.me/coregroupchat TWITTER: twitter.com/CoreGroupCC
$UFI tokens are now available on UniSwap and PancakeSwap ! $UFI/ETH: https://app.uniswap.org/#/swap?outputCurrency=0xcDa4e840411C00a614aD9205CAEC807c7458a0E3 $UFI/BNB: https://pancakeswap.finance/swap?outputCurrency=0xe2a59D5E33c6540E18aAA46BF98917aC3158Db0D How to buy tokens on UniSwap: 1️⃣Install MetaMask 💡Go to MetaMask and download and install (in Chrome or FireFox). 💡You’ll see the MetaMask fox icon next to your address bar. Click the icon and MetaMask will open up. 💡Create a New password. Then, write down the Secret Backup Phrase in a safe place. MetaMask will create a new Ethereum address for you. 💡Copy your Metamask wallet address. 💡Buy some Ethereum in your favorite exchange (Coinbase, Binance, Kucoin, etc) and send the $ETH to this address. 💡In your exchange, find the Withdraw option. Select Ethereum. They ask where do you want to send, paste there the Metamask address. 2️⃣Buy On Uniswap 💡Go to Uniswap. Choose ETH up and click Select a token down. 💡Search the token you want to buy. $UFI ETH: 0xcDa4e840411C00a614aD9205CAEC807c7458a0E3 💡Select the amount of $ETH you want to spend and you will see the amount of $UFI you will receive. 💡Click Swap. 💡Metamask will open a new window and ask you for confirmation. Confirm. Then wait until the transaction is completed! Be patient, sometimes it takes a few minutes. 💡If everything is correct, you will see the new coins you bought in the bottom Balance. _______________________________ How to buy tokens on PancakeSwap: 1️⃣Install MetaMask 💡Go to MetaMask and download and install (in Chrome or FireFox). 💡You’ll see the MetaMask fox icon next to your address bar. Click the icon and MetaMask will open up. 💡Create a New password. Then, write down the Secret Backup Phrase in a safe place. MetaMask will create a new Ethereum address for you. 💡Copy your Metamask wallet address. 💡Buy some Ethereum in your favorite exchange (Coinbase, Binance, Kucoin, etc) and send the $ETH to this address. 💡In your exchange, find the Withdraw option. Select Ethereum. They ask where do you want to send, paste there the Metamask address. 2️⃣Buy On PancakeSwap 💡Go to https://pancakeswap.finance/swap. Choose BNB up and click Select a token down. 💡Search the token you want to buy. $UFI BSC: 0xe2a59D5E33c6540E18aAA46BF98917aC3158Db0D 💡Select the amount of $BNB you want to spend and you will see the amount of $UFI you will receive. 💡Click Swap. 💡Metamask will open a new window and ask you for confirmation. Confirm. Then wait until the transaction is completed! Be patient, sometimes it takes a few minutes. 💡If everything is correct, you will see the new coins you bought in the bottom Balance. 🚀🚀Congrats! Now you are the happy holder of $UFI tokens! ___ ATTENTION 🚀 Instructions for round A will be send during the 15 minutes _______________________________ If you have participated in the HAI Round, $UFI tokens will be airdropped automatically to the same address used in the HackenAI App on BSC network. More details: https://hackenclub.medium.com/purefi-token-distribution-details-for-hai-round-f962184826f3