Category Archive : Americas

El Salvador: Thousands march against President Nayib Bukele | News | DW

Thousands of protesters took to the streets in El Salvador’s capital San Salvador Sunday to demonstrate against President Nayib Bukele’s government.

While Bukele was very much the focus of the protests, grievances of those gathered ranged from his effort to supplant the Supreme Court justices with judges more to his liking and the move to make bitcoin legal tender in El Salvador.

Feminist groups, human rights organizations, environmentalists, and opposition political parties were among those who gathered in the capital carrying signs that read, “Bitcoin is fraud,” and, “Democracy is not up for negotiation, it is defended,” along with numerous anti-authoritarian messages.

They also burned an effigy of Bukele near the main square in San Salvador.

El Salvador has used the US dollar as legal currency for two decades, but recently it became the first country in the world to make bitcoin a national currency.

Bukele’s government has said bitcoin could help revitalize El Salvador’s struggling economy and may help the country retain fees that are lost when remittances are sent back to the country.

Remittances from Salvadorans abroad account for more than $400 million (€345 million) or 22% of El Salvador’s GDP.

‘Emperor’ Bukele’s concentration of power criticized

Last month, amid increasing concerns over Bukele’s efforts to consolidate power, he proclaimed himself “emperor” in his Twitter bio. On the social media site, he criticized Sunday’s protests as a failure. 

For the first time, Congress is dominated by lawmakers belonging to Bukele’s New Ideas party. In May, they voted in favor of firing judges on the Supreme Court’s constitutional panel and the attorney general. Their replacements were perceived as friendly to Bukele.

The Supreme Court then ruled that Bukele could seek a second conservative term. The maneuvers led to strong criticism from the US and other international rights groups.

What do the protesters say about Bukele?

Ricardo Navarro, head of the environmental NGO Salvadoran Center for Appropriate Technology, told the AFP news agency that Bukele “is already taking us down a cliff with his bad ideas that are already affecting the economy with this bitcoin.”

Rosa Granados, a labor union member, told Reuters news agency, “If he raises his hand, all the deputies approve it and there is no law and no legal process that is respected.”

ar/fb (AFP, Reuters)


BOTS, Inc.’s Newly Acquired Subsidiary, TekX Mining and Gaming PC Solutions LLC, Announces Grand Opening of Bitcoin Mining Training Academy

BTZI Provides Update on Its Miner Warranties Program

San Juan, Puerto Rico, Oct. 18, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – BOTS, Inc. (OTC: BTZI), (“BOTS” or “The Company”), a global technology company specialized in Blockchain-based solutions including decentralized finance applications, cybersecurity, crypto mining, mining equipment repair and warranties announced today that its subsidiary and an authorized miners repair facility, TekX Mining and Gaming PC Solutions LLC, has launched at their new Parkersburg, West Virginia based TekX Training Academy (TTA) facility. The TekX Training academy will be offering training courses in bitcoin miner operations, maintenance, and repair with activities designed for individuals and employees of North American-based bitcoin mining farms.

BOTS, Inc. will be publishing the related list of training programs for bitcoin mining farms employees soon. The first training will be conducted in the last week of October 2021. However, due to overwhelming interest, BOTS has reported oversubscribed course demand. As a result, training courses will be conducted monthly.

According to a report by Training Magazine, companies in the U.S. spend an average of $4.5 billion on training and development programs for employees.

BTZI is the first public company to offer bitcoin miner warranties to operators in North America.

BOTS, Inc. has built a brand-new approach to the bitcoin miners’ extended warranties — providing a cost-effective and efficient way for Bitcoin mining farm operators to buy warranty contracts and file claims against them –which allows Bitcoin miners in North America to take their mining business to the next level. The warranty covers labor on all components of the bitcoin mining rig, including the availability of remote monitoring services, mining rig hardware coverage, and racking systems.

“Same day coverage, buy-now-pay-later, and other tools are now available on our e-commerce site,” said Dr. Oleksandr Gordieiev, CEO. “We have introduced the extended service contracts to this industry for the first time in North America, and the industry is just waking up to this. Nobody has seen this before.”

The extended miner warranty program will initially be covering Bitmain manufactured miners, and soon, BTZI will add coverage for Canaan Inc miners, MicroBT Whatsminer, and other leading bitcoin miner manufacturers. The Company announced earlier the availability of bitcoin mining repairs through an…


Bitcoin hovers near 6-month high on ETF hopes, inflation worries

Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture, February 3, 2018. REUTERS/Dado Ruvic/Illustration

TOKYO, Oct 18 (Reuters) – Bitcoin hovered near six-month highs on Monday in anticipation of the listing of the first futures-based bitcoin exchange-traded funds (ETF) in the United States, which investors hope will boost cryptocurrency trading volumes.

If the U.S. Securities and Exchange Commission (SEC) does not object, the ProShares Bitcoin Strategy ETF completes a 75-day period since the fund manager filed plans and could begin trading on Tuesday.

Other fund managers could list bitcoin ETFs in the coming days and weeks, and that could lead to wider investment in digital assets.

The world’s largest cryptocurrency last stood at $62,288 , near Friday’s six-month high of $62,944 and not far from its all-time high of $64,895 hit in April.

Ether , another popular token used on the Ethereum blockchain, was traded around $3,866 and has been rising in tandem with bitcoin since mid-September.

“The news of a suite of futures-tracking ETFs is not new to those following the space closely, and to many this is a step forward but not the game-changer that some are sensing,” said Chris Weston, head of research at Pepperstone in Melbourne, Australia.

“We’ve been excited by a spot ETF before, and this may need more work on the regulation front.”

Among fund managers who have applied to launch bitcoin ETFs in the United States are the VanEck Bitcoin Trust, ProShares, Invesco, Valkyrie and Galaxy Digital Funds.

The Nasdaq on Friday approved the listing of the Valkyrie Bitcoin Strategy ETF. Grayscale, the world’s largest digital currency manager, is planning to convert its flagship product, the Grayscale Bitcoin Trust (GBTC.PK) into a spot bitcoin ETF, CNBC reported on Sunday.

After months of back-and-forth between the SEC and potential bitcoin futures ETF issuers, the regulator appears prepared to greenlight a handful of…


Bitcoin Gearing Up For $65085: El Salvador Prefers BTC Over USD

The Bitcoin price has settled over the $60,000 mark, indicating that it is moving further into bullish territory. BTC even pushed through barrier levels of $61,500 and $62,000. A modest negative pullback occurred recently below the $62,000 pivot zone. Price fell below the $60,000 support level as well as the 100 hourly simple moving average.

Below $58,800, though, the downside was limited. Before the price began to rise again, a low was recorded near $58,888. Above the $60,000 mark and the 100 hourly SMA, there was a clear break. The price broke through the 50% Fib retracement level of the downside correction from the swing high of $62,887 to the low of $58,888.


On the hourly chart of the BTC/USD pair, there was also a break over a robust negative trend line with resistance near $60,850. Bitcoin has already surpassed the 76.5% Fib retracement line of the downside correction from the swing high of $62,887 to the low of $58,888.

Bitcoin Price Prediction – Upward Trendline Support

On the bullish side, a breakout of 63,008 resistance level, can lead Bitcoin price towards 65,084 level. While the support level continues to hold around 60,0048 levels. Bullish bias dominates amid the latest updates from El Salvador.

El Salvador prefers Bitcoin over the US dollar

El Salvador is on a quest to popularize Bitcoin use within its borders, and it may be on its way to achieving its aim, one citizen at a time. The acceptance of Bitcoin was gaining traction, according to President Nayib Bukele, as citizens were progressively trading their US dollars for Bitcoin.

1. People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs (any media outlet can independently confirm this by visiting the ATMs).

“2. Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).”

This in turn supported the Bitcoin prices and has the potential to trigger further buying trends in the market.

El Salvador is now seeking new sources of renewable energy to power bitcoin as its populace embrace this new kind of cash. Mining Bitcoin is an energy-intensive activity all over the world, but El Salvador will power the process with hydroelectric, solar, wind, and tidal power sources.

El Salvador is forging its own path to incorporate Bitcoin into its culture and economy. Making mining more ecologically friendly would be a positive move for the country. Good luck and have a great week ahead.


El Salvador prefers Bitcoin over the US dollar

El Salvador is on a mission to popularize the use of Bitcoin within the country’s borders and it may be reaching its goal, one citizen, at a time. According to President Nayib Bukele, the adoption of Bitcoin was gaining momentum as the citizens were increasingly exchanging their U.S. dollars for Bitcoin.

The President provided data based on its in-house wallet service, Chivo, and noted,

“1. People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs (any media outlet can independently confirm this by visiting the ATMs).”

Despite the rise of the local population buying and selling Bitcoin, the problems with the Chivo wallet have not yet been completely overcome. A user complained to have lost $220 when trying to withdraw cash from the Chivo digital wallet.

Nevertheless, data suggested that the Salvadoran migrants were sending two million dollars in bitcoin daily through remittances. With nearly a fifth of Salvadorans depending on remittances, the Chivo wallet allowed them to send and receive money without commission, reducing the net cost of such payments. Meanwhile, the government provided $30 for downloading the wallet.

The President in his tweet noted the importance of remittance for Salvadorans as he stated,

“2. Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).”

The role crypto plays in solving payment-related issues has been one of the crucial factors in its adoption. Nearly 6 million people [half the country] now had a digital wallet and as many as 2.1 million active users.

As the citizens embrace this new form of currency, El Salvador was now looking to power bitcoin with new streams of renewable energy. Mining Bitcoin has been an energy-intensive activity across the world but El Salvador is going to use hydroelectric, solar, wind, and tidal power projects to power the mining process.

El Salvador is paving its own new way to integrate Bitcoin into its society and economy….


Millennials Pull Crypto Out of the Shadows in India

But in part the industry’s confidence stems from the belief that policy makers have been persuaded of benefits to the economy from blockchain-based innovation. iSPIRT, an influential Bangalore-based think tank, is advising India to embrace the growing field of decentralized finance to close a $250 billion funding gap for small and midsize firms, and build a Wall Street for all on the internet, as Balaji Srinivasan, formerly the chief technology officer at Coinbase Global Inc., the largest U.S.-based crypto exchange, describes it. 


Ukraine Is the Most Crypto-Aware Country Followed by Russia and the US: Survey

According to a resent research, the population of the Eastern European state – Ukraine – is the most interested in digital assets. Russia and the USA ranked respectively second and third.

Surpassing The Giants

The cryptocurrency brokerage firm BrokerChooser took into account several factors such as the total number of digital asset owners and the global adoption index to determine which is the most crypto-aware country across the globe.

Google searches with the phrases “cryptocurrency,” “compare cryptocurrency,” “what cryptocurrency to invest in,” “cryptocurrency to buy,” “cryptocurrency trading,” “cryptocurrency trends,” and “cryptocurrency brokers” also played a significant role in the survey.

Despite its financial problems, war issues, and a high percentage of poverty, Ukrainians have reportedly shown major interest in digital assets recently and topped the chart with a 7.97 score (out of 10). The largest nation by landmass – Russia – ranked second, while the biggest economy – the USA – landed in the third position.

It is worth noting that the fourth place belongs to another country that experiences economic difficulties – Kenya. This should not come as a surprise since, as the research outlined, people from emerging markets often turn their sight towards the digital asset industry to protect their savings in the face of currency devaluation.

On the other hand, adoption in well-developed areas like North America, Western Europe, and Eastern Asia is powered mainly by institutional investors, BrokerChooser noted.

Ukraine Ready for Crypto

The cryptocurrency environment in the ex-Soviet state is somewhat confusing, as of the moment, since digital tokens are neither legal nor prohibited. While Ukrainians cannot use bitcoin or the altcoins as payment options for goods or services, traders and investors can buy and sell them on exchanges within the country.

Last month, though, the local parliament passed a…


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