01/27/23

German Expat Finds Success With Homestead & Bitcoin in Portugal

• Julia moved to Portugal from Germany when she was 19 years old and eventually settled there.
• Julia started a homestead that feeds her family and also started a Bitcoin meetup in her local community.
• Julia talks about how both Bitcoin and homesteading require high upfront investment and very low time preference.

Julia is a German expat who has found a home in the southern region of Portugal. She has established a homestead that provides for her family and has become an advocate for Bitcoin in her local community.

Julia’s journey to Portugal began when she was 19 years old. She was looking for a way to travel and found an opportunity to work in the country for three months. She quickly fell in love with Portugal and decided to stay, eventually bringing her parents and brothers over to join her.

Julia has been living in Portugal for over a decade and has made a life for herself there. She has started a homestead on the land she lives on and is able to grow enough food to feed her family. She has also become a champion of Bitcoin in her local community, hosting meetups and educating others on the cryptocurrency.

Julia has found that both Bitcoin and homesteading require a high upfront investment and very low time preference. They both are hard work, but the end result is worth it. She believes that the same principles that apply to her homestead are also applicable to Bitcoin and other cryptocurrencies.

Julia is an inspiration to all who want to pursue their dreams and make the world a better place. Her story shows the power of dedication and hard work, and her commitment to her local community and Bitcoin are a testament to her spirit.

01/19/23

U.S. Senate Enters The Crypto Fight: Regulations & Ban Proposed

• The Senate recently introduced the Digital Asset Anti-Money Laundering Act of 2022, which contains KYC laws for self-custody wallets and money-transmitter licensing requirements.
• The European Central Bank recently revealed that Bitcoin is on an “artificially induced last gasp before the road to irrelevance.”
• The Senate Banking Committee hearing is just the beginning of the “then they fight you stage” and it will only get worse in 2023.

The United States Senate recently introduced a bill aimed at curbing the use of cryptocurrencies and digital assets in illegal activities. The Digital Asset Anti-Money Laundering Act of 2022 contains several provisions, most notably the requirement of KYC laws for self-custody wallets and money-transmitter licensing requirements. The bill has received significant criticism from the cryptocurrency community, as it could be seen as a direct attack on the freedom and security of digital asset users.

The bill comes on the heels of the European Central Bank’s (ECB) recent announcement that Bitcoin is on an “artificially induced last gasp before the road to irrelevance.” The statement has been met with criticism from the crypto community, as the bank’s comments appear to be a baseless attempt to discredit the asset class. The ECB’s announcement was followed by a statement from an official that the bank is considering a ban on Bitcoin and other cryptocurrencies in order to mitigate environmental damage.

This news has been met with a wave of opposition from the crypto community, and a recent Senate Banking Committee hearing has been the latest example of the divide between those who support and oppose cryptocurrency. The hearing, which was titled “Examining the Digital Dollar and Other Digital Assets”, featured testimony from both supporters and opponents of the asset class. The testimony highlighted the potential benefits and drawbacks of cryptocurrency and digital assets.

It appears that the U.S. Senate is entering the “then they fight you stage” of cryptocurrency adoption. While a ban and most of the regulations proposed would be extremely difficult to enforce, they could still serve as a significant speed bump to widespread adoption. The crypto community is advised to stay vigilant and pay attention to governmentally-elected representatives, just like what happened with the infrastructure bill in 2021. With the energy crisis in Europe deepening, it’s unclear how the situation will play out. It is important for crypto supporters to remain active and vocal in order to ensure that the asset class is not unfairly targeted or regulated.

01/19/23

A Financial Revolution: Bitcoin Offers Puerto Rico Independence and Identity

• In 1889, Puerto Rico suffered a 40% currency devaluation, due to the United States setting up the American Colonial Bank and declaring the U.S. dollar as legal tender.
• This devaluation caused Puerto Ricans to attempt to save their net worths, by borrowing money from the American Colonial Bank.
• High interest rates made it very unlikely that locals were going to be able to pay back their loans, so the bank seized their assets.

Puerto Rico has seen it all, from currency devaluations, confiscation of wealth, natural disasters, colonizers and fights for independence all in less than 100 years. Before that, Pedro Albizu Campos fought for Puerto Rico to have its own identity, its own independence and its own sovereignty. But now the world has a decentralized money that can provide Puerto Rico with the independence and identity that it has been starved for and deserves.

In 1889, Puerto Rico suffered a 40% currency devaluation, crippling the Puerto Rican economy. This was caused by the United States setting up the American Colonial Bank and declaring the U.S. dollar as legal tender (the official money) of Puerto Rico, changing it from the peso. This devaluation caused Puerto Ricans to attempt to save their net worths, by borrowing money from the American Colonial Bank. However, high interest rates made it very unlikely that locals were going to be able to pay back their loans, so the bank seized their assets (in these days, typically their land).

This financial disaster was a shock for Puerto Ricans. In 1899, one peso was only worth 60 cents, meaning the local businesses of Puerto Rico and its citizens lost 40% of their net worths overnight from causes totally outside of their control. The citizens of Puerto Rico had no say in the matter and were helpless against the economic disaster that befell them.

Today, the citizens of Puerto Rico are still vulnerable to the same kind of situation. The island uses the U.S. dollar as its legal tender and is vulnerable to the decisions of the U.S. central bank. This chart represents all of the dollars in the U.S. and Puerto Rican economy.

Bitcoin, however, offers a different path. It is a decentralized currency that is not tied to any one country or its central bank. This means that citizens of Puerto Rico can use it to store their wealth in a way that is not impacted by the decisions of the U.S. central bank. In addition, Bitcoin can be used to send money around the world quickly and securely, with no need for intermediaries.

Bitcoin has the potential to give Puerto Ricans the independence and identity that they have been starved for and deserve. It can also provide a way for Puerto Ricans to store their wealth without worrying about devaluations, or the confiscation of wealth by a central bank. With Bitcoin, Puerto Ricans can have the freedom and autonomy to control their own financial destiny.