• fastestFee: 3 sat/vB
• halfHourFee: 3 sat/vB
• hourFee: 3 sat/vB
• economyFee: 3 sat/vB
• minimumFee: 2 sat/vB

In theory and based on the Bitcoin price history, you can have enough price increases to generate enough money to support the next generation, but that is not guaranteed.

Bitcoin can be replaced by another technology or something bad can happen to destroy it. (nothing is impossible) .... I was one of the lucky people who got into Bitcoin when the price was around $300.... I made almost 800% profit on those first coins that I bought and I used the profit to generate passive income for my family, through other investments.

Do not put your eggs into one investment basket, rather use some of your Bitcoin to invest in other options too. (Property / Bonds / Shares etc.) 

Latam Insights: Bukele Used Bitcoin as a Rebranding Tool; Bitcoin Mining Companies Stop Operating in Paraguay After Power Fee Hikes

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: Salvadoran President Nayib Bukele acknowledges that bitcoin rebranded the country, some bitcoin mining companies have stopped operating in Paraguay after the recent power fee hikes, and Argentines lead Latam in stablecoin adoption.

Bukele States Bitcoin Was an Effective Rebranding Tool for El Salvador

Nayib Bukele, President of El Salvador and one of the most popular heads of state today, recently evaluated the process that El Salvador has gone through regarding its bitcoin allegiance and how it has affected the country’s image internationally.

In a recent interview given to Time Magazine, Bukele reflected on the benefits and downsides of adopting bitcoin as legal tender in 2021, when he passed the so-called Bitcoin Law with a supermajority in the Salvadoran Congress controlled by his party Nuevas Ideas (New Ideas).

While Bukele admitted that Bitcoin had not developed as he wanted it to, with only 12% of Salvadorans having made at least one bitcoin transaction after all the resources spent in the national Chivo bitcoin wallet, he explains that it also served for other purposes.

He stated:


9 Bitcoin Mining Companies Suspend Activities After Power Fee Hikes in Paraguay

The income received by power sales to bitcoin miners is starting to be affected by the measures taken by the National Power Administration of Paraguay (ANDE). Hugo Rolon, ANDE commercial manager, stated that while there had been no contract rescissions as a consequence of the fee hikes enacted for bitcoin miners last month, service interruptions had indeed taken place.

According to local media reports, Rolon stated:


Several bitcoin mining industry representatives had warned about the effects of the recent power fee hike, which raised energy fees for miners by up to 16% depending on their power expenditure.

Bitso Report Shows Argentines Leading Stablecoin Adoption in Latam

A recent report by Bitso that surveys the behavior of Latam cryptocurrency users has found that Argentines are the largest purchasers of stablecoins in the region. The “Latam’s Crypto Landscape” report assesses that this has to do with several factors, including cultural ones, the exchange rate variation, and the high inflation registered during Q1 and Q2 2024.

These factors have made Argentines choose stablecoins over other crypto options, preferring to maintain the value of their savings instead of purchasing other cryptocurrencies as investments.

Julian Colombo, general director of Bitso Argentina, said this was a recurrent behavior in the Argentine cryptocurrency market. He stated:


Source: https://news.bitcoin.com/latam-insights-bukele-used-bitcoin-as-a-rebranding-tool-bitcoin-mining-companies-stop-operating-in-paraguay-after-power-fee-hikes/

Despite the support of global investors for Bitcoin adoption, most governments are still opposing it. Although the governments of some countries have taken it positively they have also legalized Bitcoin in their countries but a large part still do not support it officially. Moreover, there are still many people who have not acquired proper knowledge about Bitcoin. Some people are thinking about it in a negative way. The high volatility of Bitcoin also discourages many investors from investing. As people gain better knowledge about Bitcoin they will be able to move away from their misconceptions. In general, the price of gold is often stable, but due to the high volatility of bitcoin, it cannot be compared to gold, but if you think of it as a valuable asset, bitcoin will become more expensive than gold.

People including myself are obsessed with money (earn as much as you can and spend as low as you can), so people will vote the number one.

Most people don't really care with high-low hashrate, centralization or decentralization because they always happy when government start accepting Bitcoin as legal tender, whales purchase Bitcoin in large sum, leaving their coins in CEX in order to not pay mining fees, staking in CEX rather than earn nothing etc.

At least even though I care with profit and loss, I don't mind to hold my coins in non custodial wallet.

How much will you pay for being a Legend in the Bitcoin history. His actions actually showed people that Bitcoin was "worth" something and you can actually buy something with it, which was not how a lot of people saw it back then.

Bitcoin was seen as some "Monopoly" money and something without real value, but this transaction opened their eyes to the monetary value and that it can be used to buy "things"

Laszlo will always be a Bitcoin Legend! 

It's because WazirX didn't file for bankruptcy at all. They have files for moratorium so that they can get time as well as pull in some investments to cover for the losses. While the socialized losses was not a good idea to me, it's comforting to know that they are not planning to close down the operations and run away. They are taking every possible measures so that they can return to their business and normalize everything for their users and for themselves. That's alone is a good gesture by the company.

I know a lot of exchanges were closed down after such hacking incidents and also some exchanges were able to come out of it stronger. Hopefully WazirX will be able to come back stronger.

DCA is a suitable strategy for Bitcoin accumulation and for those who want to hold Bitcoin for the long term. DCA is an effective strategy for those who do not have the ability to invest large sums of money at once or those who, despite having the money, are not willing to take the investment risk. As such, it will help an investor to buy bitcoins regularly as well as bring the difference between the buying and selling of bitcoins to a tolerable level. A low income to high income person will have the opportunity to collect bitcoins using this strategy. There is a thread on the forum Buy the DIP, and HODL! for those who want to know about DCA. By reading this thread carefully one can get more knowledge about this method.

There was an increase in the price of Bitcoin when El Salvador declared Bitcoin as a legal tender, but it didn't last for too long. El Salvador doesn't have a big economy that can affect the market massively. The impact would have been bigger if the country's economy was among the biggest in the world. It is common to see investors monitor economic and political policies in the US, China and other top economies because it could have a massive impact on the movement of the crypto market. All eyes are now on the FEDs meeting this month because it is believed that interest rates will be cut. Imagine the impact of countries like the US or China making Bitcoin legal tender.    

It was expected, because of how El Salvador in its efforts to make Bitcoin legal tender there and using their state budget to invest directly in Bitcoin - that was a breakthrough that was first done by a country and the Bitcoin community really appreciated the effort they made. And finally El Salvador managed to make their country friendly to Bitcoin and it had an impact on their economic growth. So it is very natural that El Salvador gets the top position on google search for Bitcoin seeing how they are trying to adopt and campaign for Bitcoin.