As we all should know by now, El Salvador and the Central African Republic (CAR) are the only two countries in the world where Bitcoin functions as a legal currency.Despite free bitcoin and discounted gasoline offered to those downloading and using the cryptocurrency app(Chivo wallet for bitcon), download have stalled and use of bitcoin for daily life is not widespread in this countries.

I think this was a wrong move by the EL salvador President back in 2021, yes making Bitcoin legal tender could have posed the potential economic  boost needed by the country but giving from money to persons who have no ideas what to do with it will never support economic growth.it will just be wrongly spent and misused.i will drop a list of countries that may accept bitcoin as legal tender,

Russia, Ukraine and USA, following when the war ends Ukraine is likely to accept bitcoin as a mean of rebuilding thier economic faster, this can also cause US and Russia to take action.

Venezuela is in a terrible state now and could take the unexpected step.
and Saint Kitts and Nevis which is a near Caribbean to El salvador, depending if Salvador fortunes change Guatemala, and Honduras may follow.

So when you say it's a warning sign I would say it's the need of the hour. By now we all understand that centralised exchanges play a big role in crypto economy. So the need of a regulation is still there.
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Thats's right its actually inevitable.

You have a valid point here, the insurance only covers half of your loss and very few people understand the concept of insurance in crypto.

This topic has been moved to Bitcoin Discussion.

https://bitcointalk.org/index.php?topic=5468864.0

The collapse of cryptocurrency platform ftx, it's Boss going to trail this week, its one to follow up on, with regulators still seeking to get to grips with the sector.He is facing seven counts of fraud that could send him to decades in prison.

Top highlight is deviation of investors fund to prop up its investment arm Alameda.

The European Union meanwhile adopted its Markets in Crypto-Assets regulation this year for comprehensive oversight to protect investors and consumers alike.

The truth remains Bitcoin and crytocurrencies in general will someday all be regulated by Gov., or investors are likely to see there money disappear in a flash.

The questions and concern rise from Prediction Changed by Analyst Benjamin Cowen who predicted a plummet of Bitcoin (BTC) to to $23,000,
 
However BTC is seen to be headed in counter direction and is valued above $27,000.

Historically, Bitcoin has experienced bullish months, where its price tends to rise significantly. However, it's important to note that the cryptocurrency market is highly volatile and influenced by various factors including market demand, macroeconomic trends, regulatory developments, institutional interest, and investor sentiment.

Bitcoin's price can experience bullish months due to a variety of reasons:

Institutional Adoption: Positive news regarding institutional investors or large companies investing in or adopting Bitcoin can drive prices up. Institutional interest is often seen as a sign of confidence in the cryptocurrency.

Market Sentiment: Positive sentiment within the crypto community and general market optimism can fuel a bullish trend. Public perception of Bitcoin's future potential and technological advancements can drive demand.

Macroeconomic Factors: Economic instability or concerns about traditional financial markets can lead to increased interest in Bitcoin as a hedge against inflation and economic uncertainties.

Regulatory Developments: Favorable regulatory news or clearer guidelines regarding the use and trading of Bitcoin can boost investor confidence and drive prices higher.

Halving Events: Bitcoin's halving events, which reduce the reward for mining new blocks by 50%, historically have been followed by significant price increases. The reduction in supply often drives demand and, subsequently, prices.

October has been a fruitful month for Bitcoin, which on average gains 12% during this month yearly.

please this is not a financial advise.

It's important to exercise caution  before making any investment decisions in the cryptocurrency, as it can be highly speculative and subject to rapid and unpredictable price swings.

While amny may think recession can simply be overlooked, with passive income system and stock investments.

it will be good to also put into consideration that recessions sometimes results to inflation, company stock and proceed reduction,which may reduce once passive income value.

Brazil announced a groundbreaking initiative to develop a unified and secure digital identity system using blockchain technology. This move is aimed at enhancing security, efficiency, and convenience for its citizens in various transactions and interactions with government services and beyond.

The utilization of blockchain technology in Brazil's digital identity system ensures a high level of security and immutability of data. Blockchain's decentralized and encrypted nature makes it extremely difficult for unauthorized parties to tamper with or access sensitive personal information. This is a significant advancement in bolstering cybersecurity and protecting citizens' data.

Through this unified system, citizens will have a single digital identity that can be used across different government agencies and services. This will streamline various processes, eliminate redundancy, and reduce bureaucratic hurdles that citizens often face when interacting with multiple government entities.

Furthermore, the use of blockchain can facilitate efficient and transparent verification processes. Citizens' information can be verified securely and swiftly, enabling quicker access to services and reducing waiting times. The decentralized nature of blockchain also means that citizens have more control over their own data and how it is accessed and utilized.

In Buenos Aires, a similar approach is being taken to leverage blockchain for digital identity verification. The local government is investing in blockchain technology to enhance the security and efficiency of its identification systems, aligning with global trends toward more robust and reliable digital identity solutions.

The adoption of blockchain technology for digital identity verification is a significant step forward in modernizing government services and ensuring the safety and privacy of citizens' personal information. As more nations and regions embrace blockchain for such critical applications, the potential for a more secure and efficient digital future becomes increasingly promising.

What do you think ?

Should Africa follow suit?

Guess the big unasked questions are what are the effect and loss incure by individuals who are poorly informed and undereducated to fully navigate through the crytoworld of Bitcoin.?

How has, if any, Bitcoin been a direct contributing factor to Economic growth aside already stable 1st world countries.?

what values and leverages has or can Bitcoin offer to underdeveloped countries in the business growth index.?

There are many factors other than Volatility,Economic issue such as currency flow,purchasing regulations. i believe it poses a poverty risk on developing countries yet to be fully evaluated.individuals withing these regoins are either too under informed to manage digital resources effectively or easy victims to fraud.

what do you think? where withing you Economy is Bitcoin Advancing New businesses other than cryto-exchance centers and how?

Regards

There are many factors other than Volatility,Economic issue such as currency flow,purchasing regulations. as many as there values to Bitcoin and crytocurrency, i believe it poses a poverty risk on developing countries yet to be fully evaluated.individuals withing these regoins are either too under informed to manage digital resources effectively or easy victims to fraud. any until there is a clear government regulation and means of Legal monitor and documentation for all transaction withing digital space. Bitcoin and cryto-currencies alike is less likey to attain such heights.