Jonathan Martin reports from El Salvador on programs to build literacy in Bitcoin. This is his fourth dispatch from the first nation to adopt the cryptocurrency as legal tender.
By any measure, the Bitcoin network is still in its infancy. While the concept of digital money is decades old – most dollars today only exist on individual account holder’s computer screens and in centralized ledgers at banks – the idea of holding one’s wealth in self-custody without a third-party validator is new.
Dennehy was drawn to Bitcoin for philosophical reasons. He has deeply-held criticisms of the unfairness of the centralized fiat system, based upon a personal experience early on in his career. His view is that the most powerful way to oppose a system is to walk away from it entirely, a concept first posited by the American philosopher Henry David Thoreau.
Mi Primer Bitcoin holds monthly events at restaurants around San Salvador, with the goal of “orange pilling” both the restaurant owners and the attendees at the events. Dennehy gives out free satoshis to encourage attendees to make their first bitcoin transaction when buying food and negotiates with the store owners for slightly lower prices during the event. He shows both business owners and consumers how to use bitcoin.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Spark and BNB: Why Bitcoin Spark Could Be the Next Big ThingBitcoin Spark (BTCS) is getting significant attention in the crypto space. Market observers suggest with Binance’s current situation, BTCS might be the
Read more »
State-Level Building Electrification FactsheetsState-Level Building Electrification Factsheets
Read more »
Bitcoin User Just Paid Half a Million Dollars for a Single TransactionA Bitcoin user recently shelled out a staggering 19 Bitcoin—or approximately $509,563—as a transaction fee
Read more »
TON, XLM, XMR, and MKR could attract buyers if Bitcoin rises above $26,500The lack of trading opportunities in Bitcoin could drive traders to TON, XLM, XMR, and MKR.
Read more »
Ketchikan’s American Legion building goes up in flamesThe home base for American Legion Post 3 in Ketchikan was heavily damaged by a fire early Sunday morning, according to Ketchikan officials.
Read more »