Posts filtered by tags: El Salvador[x]


 

Bitcoin is too volatile to be used as legal money, according to Bank of England’s Chief

Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin as legal tender after President Nayib Bukele announced the launch of Bitcoin City. Trading around $43,000 on the first day of El Salvador’s Bitcoin adoption as legal tender, Bitcoin surged to a new historical high above $68,000 on Nov. 9. The IMF previously issued a warning against El Salvador’s Bitcoin Law in June, which didn’t prevent the country from adopting it and accepting BTC as legal ten...
Tags: Business, England, News, Bank Of England, Bitcoin, El Salvador, Btc, Cryptocurrency, Imf, Andrew Bailey, NAYIB BUKELE


The many alleged identities of Bitcoin's mysterious creator, Satoshi Nakamoto

Blue bitcoinYuichiro Chino The identity of Bitcoin's creator is at the center of a Florida lawsuit over Satoshi Nakamoto's $54 billion stake. Since it was created in 2009, bitcoin has become a top digital currency. Many names have been dropped as Bitcoin potential creators, but none have been proven. Visit the Business section of Insider for more stories. The mystery behind the creator of Bitcoin and their over $54 billion stake has captured public attention once more, as a court case...
Tags: Silk Road, Spacex, Elon Musk, Florida, UK, New York, Money, News, Wikipedia, US, Los Angeles, Trends, Tech, Tesla, Bbc, Features


El Salvador is building a volcano-powered "Bitcoin City" with no taxes

From Bloomberg: El Salvador intends to issue the world's first sovereign Bitcoin bonds and build Bitcoin City, which will be free of income, property and capital gains taxes, President Nayib Bukele announced in the beach town of Mizata to a crowd of cheering Bitcoin enthusiasts.  — Read the rest
Tags: Video, News, Cities, Bitcoin, Volcanoes, El Salvador, Smart Cities, Life In The Big City, Bitcoins, City Planning, NAYIB BUKELE, Dumb Smart Cities, Stupid Smart Cities, Bitcoin City, Mizata, Next Century Cities


They paid $2.2 billion for a better life. Most of it went to smugglers

Migrants from Guatemala, Honduras and El Salvador spend $2.2 billion every year trying to reach the United States, and most of that money goes to smugglers, according to a new report.
Tags: News, United States, Stories, El Salvador, Guatemala Honduras


Migrants from three countries paid $2.2 billion trying to reach the US. Most of it went to smugglers

Migrants from Guatemala, Honduras and El Salvador spend $2.2 billion every year trying to reach the US, according to a new report that paints a stark picture of the cost of migration -- and who's profiting.
Tags: US, Cnn, El Salvador, Guatemala Honduras


El Salvador rights groups fear repression after raids on seven offices

NGOs believe raids, officially part of an embezzlement inquiry, are an attempt to ‘criminalise social movements’Rights activists in El Salvador said they will not be pressured into silence after prosecutors raided the offices of seven charities and groups in the Central American country.“They’re trying to criminalise social movements,” said Morena Herrera, a prominent women’s rights activist. “They can’t accept that they are in support of a better El Salvador.” Continue reading...
Tags: El Salvador, Morena Herrera


Crypto is a gamble : Monika Halan

No viable country will hand over currency, monetary policy and stability to a privately held, volatile digital token. We will see national crypto currencies issued by governments and possibly a global one that has oversight of G20 or some such – Monika Halan Thread on crypto and India’s move to ban privately held ‘currencies’. 1. China did this in Sept 21 suddenly. India will debate a ban on private crypto currency in the Winter session of Parliament 21. El Salvador is using Bitcoin as n...
Tags: Business, China, India, Tech, Crypto, Parliament, El Salvador, Bonds, Thethreadmill, Monika Halan


US Diplomat in El Salvador Critical of Government Leaves Job

The United States’ top diplomat in El Salvador has announced she is leaving the post.
Tags: US, United States, El Salvador


U.S. Official Says El Salvador Relations 'Paused' for Lack of Interest

By Nelson RenteriaSAN SALVADOR (Reuters) - Relations between El Salvador and the United States are temporarily on hold due to the Salvadoran...
Tags: United States, El Salvador, Nelson RenteriaSAN


El Salvador will launch 'bitcoin bond' that pays special dividend amid plans for new crypto city

El Salvador President Nayib Bukele.Secretaria de Prensa de La Presidencia/Handout via Reuters El Salvador will launch a "bitcoin bond" and announced plans for the world's first "Bitcoin City." Investors in the new bond will receive an annual special dividend, according to Blockstream. The new city will be built next to a volcano, and feature an airport as well as commercial and residential areas. El Salvador is partnering with digital assets firm Blockstream to raise about $1 billion for ...
Tags: Trends, El Salvador, Blockstream, Reuters El Salvador, NAYIB BUKELE, Phil Rosen, Bukele, Nayib, Bitcoin City, Conchagua


Crypto bonds! Volcanoes! What we know about the first ‘Bitcoin City’

Crypto bros could soon have a new dream destination. At a conference on Saturday, the president of El Salvador unveiled plans to build the world’s first “Bitcoin City.” Dressed in all white and donning a backward baseball cap, President Nayib Bukele looked more like a pop star than a politician as he described an ecological metropolis funded by Bitcoin-backed bonds. He compared his strategy to that of Alexander the Great founding cities that he humbly named after himself: The idea behind it was ...
Tags: Startups, Bitcoin, El Salvador, Insider, Alexander the Great, NAYIB BUKELE, Hard Fork, Alexandrias


The Morning After: Adele has the power to remove the shuffle button

Adele had the power to remove the shuffle button from Spotify’s album pages, Pixel 6a leak suggests Google might finally ditch the headphone jack, El Salvador plans to create an entire city based... #spotify #elsalvador #adele #6aleak #themorningafte
Tags: Google, Spotify, Adele, El Salvador


El Salvador plans to build a 'Bitcoin City' powered by a volcano

El Salvador plans to build the world's first "Bitcoin City," President Nayib Bukele said on Saturday.Jose Cabezas/Reuters El Salvador plans to build the world's first "Bitcoin City," President Nayib Bukele said Saturday. He said it would be funded initially by bitcoin-backed bonds and wouldn't levy any taxes bar VAT. Bukele said the city planned would get geothermal power from a volcano to mine bitcoin. El Salvador plans to build the world's first "Bitcoin City", funded initia...
Tags: News, Trends, Markets, Bitcoin, Crypto, El Salvador, Vat, Blockstream, Cryptocurrency, Samson, Bitfinex, NAYIB BUKELE, La Union, Nelson Renteria, Bukele, El Salvador Bukele


Hillary Clinton says cryptocurrency has the potential to destabilize nations and traditional currencies

Hillary Clinton.Melina Mara/The Washington Post via Getty Images Hillary Clinton addressed the mining and trading of cryptocurrency at a Bloomberg economic panel. She warned about the rise of new crypto technologies amid complex relations between the US, China, and Russia. A cybersecurity expert told Insider her worries about the destabilizing potential of cryptocurrency are valid. Hillary Clinton isn't a fan of cryptocurrency, and she thinks its widespread adoption could undermine tradit...
Tags: New York, Washington Post, China, Russia, Singapore, US, Trends, Bloomberg, Getty Images, Hillary Clinton, Zimbabwe, Miami, El Salvador, North America, Jack Dorsey, Clinton


El Salvador plans to build world’s first ‘Bitcoin City’ backed by bitcoin bonds

El Salvador’s President Nayib Bukele speaks during a ceremony to lay the first stone of Chivo Vet, a veterinary hospital financed with the gains El Salvador has obtained from its bitcoin operations, in Antiguo Cuscatlan, El Salvador November 1, 2021. Speaking alongside Bukele, Samson Mow, chief strategy officer of blockchain technology provider Blockstream, said El Salvador would initially issue a $1 billion bond backed by bitcoin to begin raising funds for the planned city. El Salvador in Sept...
Tags: Business, News, Bitcoin, El Salvador, Blockstream, Cryptocurrency, NAYIB BUKELE, Antiguo Cuscatlan El Salvador, Bukele Samson


El Salvador Plans 'Bitcoin City' Powered by a Volcano, Financed by Bitcoin Bonds

"In a rock concert-like atmosphere, El Salvador President Nayib Bukele announced that his government will build an oceanside 'Bitcoin City' at the base of a volcano..." reports the Associated Press. "A bond offering would happen in 2022 entirely in Bitcoin, Bukele said, wearing his signature backwards baseball cap. And 60 days after financing was ready, construction would begin." The city will be built near the Conchagua volcano to take advantage of geothermal energy to power both the city an...
Tags: Tech, Associated Press, El Salvador, Blockstream, Samson, NAYIB BUKELE, Bukele, Bitcoin Bukele, Bitcoin Bonds, Bitcoin City, Conchagua, Alexander the Great Bukele, Alexandrias


El Salvador to Build Cryptocurrency-Fueled 'Bitcoin City'

El Salvador President Nayib Bukele says his government will build an oceanside “Bitcoin City” at the base of a volcano.
Tags: El Salvador, NAYIB BUKELE, Bitcoin City


El Salvador plans first 'Bitcoin City', backed by bitcoin bonds

El Salvador plans to build the world's first "Bitcoin City", funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday, doubling down on his bet to harness the crypto currency to fuel investment in the Central American country.
Tags: Cnn, El Salvador, NAYIB BUKELE, Bitcoin City


El Salvador to inaugurate Bitcoin City backed by $1B Bitcoin bonds

Crypto exchange Bitfinex will support El Salvador’s Bitcoin City initiative by launching a securities platform to hold the $1 billion Bitcoin bonds. #elsalvador #bitcoincity #bitfinex
Tags: El Salvador, Bitcoin City


State Lawmaker Ill With COVID in El Salvador Now in Florida

A former Washington state lawmaker says Republican state Sen. Doug Ericksen of Ferndale, who was sickened with COVID-19 in El Salvador, is now in stable condition at a Florida hospital after a medevac flight.
Tags: Florida, Washington, El Salvador, Ferndale, Doug Ericksen


Hillary Clinton says cryptocurrency has the potential to destabilize nations and traditional currencies

Hillary Clinton.Melina Mara/The Washington Post via Getty Images Hillary Clinton addressed the mining and trading of cryptocurrency at a Bloomberg economic panel. She warned about the rise of new crypto technologies amid complex relations between the US, China, and Russia. A cybersecurity expert told Insider her worries about the destabilizing potential of cryptocurrency are valid. Hillary Clinton isn't a fan of cryptocurrency, and she thinks its widespread adoption could undermine tradit...
Tags: Politics, New York, News, Washington Post, China, Russia, Singapore, US, Trends, Markets, Bloomberg, Getty Images, Ransomware, Bitcoin, Hillary Clinton, Cyberattack


Fiat money: Currencies that derive their value largely through trust in the governments that issue them

Fiat money gives authorities a lot of control over its supply and value.ipopba/Getty Fiat money is currency backed by the government that issued it and isn't tied to a commodity such as gold.  Fiat money issuers can have a lot of influence on the economy by controlling the supply of this currency. Overly aggressive monetary policies run the risk of eroding the value of fiat currencies. Visit Insider's Investing Reference library for more stories. Fiat money is the term used to describ...
Tags: Personal Finance, UK, US, Trends, European Central Bank, Paypal, Bitcoin, Currencies, Crypto, Fiat, El Salvador, Federal Reserve, Richard Nixon, Edstrom, Fiat Money, Investing (Reference


World Cup 2022 Qualification: Who Is Heading To Qatar?

With one year to go until the 2022 World Cup gets under way in Qatar, several nations have now booked their place – while others must face a nervous wait. A dramatic final round of fixtures in European qualifying drew to a close on Tuesday, with reigning world champions France and Gareth Southgate’s England among those to secure their spots. However, there will be some big names in Europe’s play-off deciders in March – plus there’s plenty still yet to be decided around the rest of the world, wi...
Tags: Asia, South Korea, Europe, Japan, Usa, England, Sweden, Wales, Mexico, France, Scotland, Saudi Arabia, Germany, Russia, Africa, Qatar


'Foreign' Agents Pitch Has El Salvador Civil Society on Edge

El Salvador President Nayib Bukele has pitched a proposed law requiring people and organizations who receive foreign funding to register as “foreign agents,” following the lead of countries like the United States.
Tags: El Salvador, NAYIB BUKELE, El Salvador Civil Society


A Washington lawmaker said he's in El Salvador with a 'bad bout' of COVID-19 and asked his colleagues to send him monoclonal antibody treatments

Sen. Doug Ericksen, R-Ferndale, wipes off a microphone before speaking on the Senate floor in January 2021 at the Capitol in Olympia, Washington. AP Photo/Ted S. Warren A Seattle lawmaker said he was stranded in El Salvador with a "bad bout" of COVID-19, The Seattle Times reported. State Sen. Doug Ericksen had fiercely opposed vaccine mandates, and it's not clear if he'd been vaccinated, the report said. In a letter to his Republican colleagues, Ericksen asked if anyway was able to...
Tags: Politics, News, Washington, Senate, Trends, Ap, Gop, Fda, Associated Press, El Salvador, Republican, Washington State, Seattle, Donald Trump, Capitol, US Department of Justice


State Lawmaker Ill With COVID-19 in El Salvador

State Sen. Doug Ericksen of Ferndale says he is sickened with COVID-19 in El Salvador and unable to receive antibody drugs to treat it.
Tags: El Salvador, Ferndale, Doug Ericksen


El Salvador's Bukele Deploys Military After Spike in Homicides

SAN SALVADOR (Reuters) - Salvadoran President Nayib Bukele on Thursday deployed the military to patrol streets throughout the country in response...
Tags: El Salvador, Reuters, SAN SALVADOR, NAYIB BUKELE


El Salvador's Bukele Deploys Military After Spike in Murders

SAN SALVADOR (Reuters) -Salvadoran President Nayib Bukele on Thursday deployed the military to patrol streets throughout the country in response to...
Tags: El Salvador, Reuters, SAN SALVADOR, NAYIB BUKELE


Bitcoin nears $70,000, while ether eyes $5,000 as the rally extends into a fourth day, aided by a weaker dollar and upbeat investor sentiment

Ether NurPhoto Ether and bitcoin both rallied for a fourth day on Tuesday to record highs, topping $4,800 and $68,500, respectively. The coin's momentum spilled over into Tuesday thanks to a lower dollar and an upcoming network upgrade. Crypto fans including the Winklevoss twins and El Salvador's Nayib Bukele, hit Twitter to cheer on the rally. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Ether and bitcoin rallied for a fourth day on Tuesday to record h...
Tags: US, Trends, Bloomberg, Crypto, El Salvador, Abu Dhabi, Cawley, Tyler, Tyler Winklevoss, Zupan, Cameron Winklevoss, OANDA, NAYIB BUKELE, Bukele, Jeffrey Halley, Nick Cawley


Zimbabwe is looking at adopting cryptocurrency as legal payment, top government official says

A pile of bitcoin cryptocurrencies is seen. Jakub Porzycki/NurPhoto via Getty Images A top official said Zimbabwe is looking to allow cryptocurrency as legal payment, according to a local report Sunday. The government is talking to businesses for their views as it tries to develop policies around crypto. Zimbabwe's finance minister recently said crypto is unstoppable, and adoption in Africa has soared 1,200% in the last year. Sign up here for our daily newsletter, 10 Things Before the ...
Tags: Africa, Trends, Getty Images, Zimbabwe, Crypto, El Salvador, Herald, NAYIB BUKELE, Mthuli Ncube, Jakub Porzycki NurPhoto, Camomile Shumba, Charles Wekwete, Wekwete