Paraguay is set to become the second country to make bitcoin legal tender — not a goofy faggity digital asset, but money for the country. This is incredible considering the current downside volatility of bitcoin and that the President is doing this in the midst of IMF threats. I'd up the home security if I were him. Better yet, resign and retire to a hidden resort in Malta or something. If bitcoin becomes law through the El Salvadorian Congress and they need a 2/3 majority to change that, there's no reason the President should have to put his life in danger. The power of decentralization, folks!
Paraguay's legislators put on the laser eyes and pushed forward legislation as well to make bitcoin legal tender. I said before that Central and South American countries, places completely shitted on by Western banking policies, should implement bitcoin as a bloc. This is a form of decentralization and spreads out the risk of political attack or military espionage.
Implementation is far from perfect, as the government controls the distribution of bitcoin in both countries. El Salvador plans to incentivize bitcoin utility by airdropping $30 worth of BTC to citizens who go through a KYC after downloading a government wallet. Kind of flies in the face of privacy, security and anonymity, but I guess if you're poor enough to accept $30, what you gain here is more than what you lose.
This is good news for bitcoin in the long term, neutral to bad in the short term. You can bet the IMF and Western cabals are gearing up to attack bitcoin, if they're not behind the current price action. A $20k bitcoin is not out of the question after another weekend dumpster fire. This is the 5th in a row. Geez. As I write this, BTC = barely above $30k. Everything else is in the shitter and looks worse down the line. I wouldn't be buying shit outside of bitcoin, ether, theta, and a couple of other top 20 projects right now.
If banking cabals/governments do attack BTC, it can backfire if El Salvador and Paraguay are smart. A $20k bitcoin would be a perfect opportunity to pull a China — take every spare Eurodollar in the government coffers and buy BTC with it. Central America does have its own banking cabal of sorts. Let's hope they are gearing up the economic war machine for the inevitable conflict, and let's hope their leaders have strong balls and good bodyguards. There's no shortage of pieces of absolute shit willing to carry out murder for Western banking cabals.
Decentralization is the key so there's no one to attack! I say that like the Presidents are reading my blog. Might not hurt their chances.
Whatever you do, please don't make any buy/sell decisions based on these fucking smoke and air supercycle/226.23842-day-bull-cycle-after-halving/bitcoin-has-to-hit-six-digits-by-the-date-I-say bullshit. None of that shit has to be true. It might be, but it doesn't have to be. I'm not negating Plan B stock-to-flow, Willy Woo, or whatever. All of the people talking that shit have been in the game longer than me, have more insider connections, and blah blah blah. But I can only go with what I see. Shit looks bearish for now, so I treat it like a bear market until further notice.
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