From the Andes to the Amazon...
...Peruvians Are Adopting Bitcoin
In my latest for Forbes Digital Assets, I documented the work that the NGO Motiv is doing to bring everything from medical care to bitcoin to communities living in some of the most remote regions of Peru. (Click the image below to read the article.)
The majority of Peru’s population is unbanked, which means they didn’t have a means of saving before bitcoin. Now, because of bitcoin, some of the most financially disenfranchised in the country are starting to save, and, as a result, become more hopeful.
I cover this and more — including the fact that Peruvian women not only adopt bitcoin the fastest but tend to teach others in their community about it, as well — in the article. Enjoy!
Peer-to-Peer (P2P) Trading Under Fire in Nigeria
The Nigerian government recently chose to blame Binance’s P2P trading platform for the precipitous decline in the value of its national currency, the naira.
The actual reason the value of the currency is falling, though, is that the Nigerian central bank chose to float the currency instead of pegging it to the US dollar and the free market is now determining what the naira is worth.
And it’s apparently worth a lot less than the Nigerian government and central bank expected.
I spoke with a Nigerian Bitcoin educator who’s part of the team at NoOnes, Tochi Onyiah, about the situation for my podcast this week.
I plan to cover this story in greater detail in the future, as the Nigerian government is currently holding two Binance executives hostage, one of which is a US citizen, Tigran Gambaryan, who used to work for the IRS who’s is highly regarded in law enforcement and cybersecurity circles, according to Fortune.
The Biden administration has yet to respond to this violation of international law, which I find quite alarming.
Is It Too Late to Buy Bitcoin?
Bitcoin’s price is neat all-time highs. Does this mean it’s too late to buy bitcoin?
I answered these questions in my latest for Finder.com (click image below to read the piece.)
Also, remember that if you do buy some bitcoin, that bitcoin isn’t technically yours until you hold the private keys to it. In other words, you have to move your bitcoin out of the custody of the exchange from which you purchased it to truly own it.
The Trezor Model One, the world’s first Bitcoin/crypto hardware wallet, can help you do this.
This is why we at new renaissance capital have partnered with Trezor to promote the device. Click on the image below to purchase a Trezor Model One, one of the most affordable high-quality hardware wallets on the market today.
Pro tip: Move sats — fractions of a bitcoin — into your own custody in bigger chunks, because fees on the bitcoin blockchain are high. I recommend moving no less than 800,000 sats at a time.
Bitcoin and Community Health
My buddy Scott Wolfe published an incredible piece this week on why community health workers should begin looking at how the fiat currency system is having adverse effects on those on the lowest rungs of the socioeconomic ladder around the globe.
Scott has 20 years of experience working in global health and community health and development. He’s worked for institutions ranging from the World Health Organization to local non-profits in Canada and abroad.
Whether or not you consider bitcoin as part of the solution for improving community health, I think you’ll find this piece quite interesting. (Click the image below to read it.)
Alright, y’all — that’s all for today!
I hope your week is off to a great start!
Big hug.
Best,
Frank
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