BITCOIN

El Salvador’s tourism has grown more than 30% after adopting bitcoin as legal tender, according to the country’s ministry of tourism. “Cryptocurrency multiplies the opportunities to do business with more partners anywhere in the world,” the Salvadoran government explained. El Salvador’s Economy Boosted by Bitcoin Law The Salvadoran government has outlined some economic benefits resulting from adopting bitcoin as legal tender. The country’s bitcoin law went into effect in September last year, making BTC a national currency alongside the U.S. dollar. A notice posted on the government website Monday explains that during the first months of bitcoin being legal tender in El Salvador, “it was possible to identify the advantages of having added innovation and financial freedom.” The notice adds that tourism was one of the first sectors where it was possible to verify how bitcoin has helped the country’s economy. The head of the Ministry of Tourism (MITUR), Morena Valdez, commented: “The...

The creator of Ruby on Rails says the situation in Canada is “terrifying” and “a real wakeup call.” He admits that he was wrong about bitcoin and cryptocurrency. “A few months ago, I would not have found it credible if you said a three-week peaceful protest in Canada could have led to martial law, frozen bank accounts, and terrorist-financing laws being used to hunt protest donors,” he stressed. ‘I Was Wrong, We Need Crypto’ The creator of Ruby on Rails, David Heinemeier Hansson (DHH), has admitted that he was wrong about bitcoin and cryptocurrency. Ruby on Rails, or Rails, is a server-side web application framework written in Ruby under the MIT License. Hansson, a Danish programmer, is also a partner at the web-based software development firm Basecamp. Hansson outlined why he changed his mind about bitcoin and crypto in an opinion piece titled “I was wrong, we need crypto,” published Monday. “To say I’ve been skeptical about Bitcoin and the rest of the crypto universe would be a...

On Tuesday, the Solana-based non-fungible token (NFT) marketplace Magic Eden announced the project is airdropping NFT tickets to existing Magic Eden users and plans to form a decentralized autonomous organization (DAO). On February 21, the Magic Eden project airdropped around 4,000 NFTs to active wallets, and the following day the team announced the DAO roadmap. The Magic Ticket Airdrop and DAO According to the developers of the Solana -based Magic Eden NFT marketplace, a DAO is in the making and the fundamentals behind the change. The team detailed that it started distributing thousands of NFTs to active wallets. Magic Eden (ME) developers created three levels of “Magic Tickets,” which includes “OGs – people who first transacted on ME from Sep 17 – Oct 17,” “Degens – people who first transacted on ME between Oct 18 – Dec 18,” and “Normies – people who first transacted on ME Dec 19 onwards.” The Magic DAO has three fundamentals which include: A mission and set of rules to which ...