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> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
Other governments are already accumulating BTC silently. Way too many eyes on the topic lately. There will be some FUD along the way (maybe even El Salvador banning/unbanning BTC up to few times - the classic) but I believe at some time news will start popping left and right that other countries hold BTC on balance sheets. Will eventually start with ETH too if it hasn't already. Re people below: I don't have any sour…
Do you have sources about other countries accumulating BTC?
Other governments are already accumulating BTC silently. Way too many eyes on the topic lately. There will be some FUD along the way (maybe even El Salvador banning/unbanning BTC up to few times - the classic) but I believe at some time news will start popping left and right that other countries hold BTC on balance sheets. Will eventually start with ETH too if it hasn't already. Re people below: I don't have any sour…
Do you have any sources for "Other governments are already accumulating BTC silently."?
> The El Salvador President has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts. Right. People who can't even afford a bank account would now all be using financial services by paying 10 dollars per transaction.
Where I live ordinary bank transactions are free for ordinary consumers. I never pay a transaction fee or any annual fees. My bank used to charge an annual fee for a credit card but they have stopped charging now. In fact in my whole life (I'm 65 so about 50 years of having bank accounts) I have never paid transaction fees for ordinary transactions (in the UK and Norway).
I wonder to what degree this is related to the prevalence of organized crime (Bitcoin being a 'currency' of the black market).
Key points:
- 0.34% of tx in 2020 were illicit - Of that 0.34% it is almost all scams and darknet market tx
In 2021, the large darknet markets either only accept Monero or accept BTC and Monero. Large ransomware gangs like DarkSide prefer Monero (they offer discounts for it). It's reasonable to assume that the percentage of BTC tx that are illicit are even lower as Monero assumes more of the activity.
BTC is not a 'currency' of the black markets.
- https://blog.chainalysis.com/reports/2021-crypto-crime-repor...
Earlier quoted context omitted.
And before people ask, it uses the lightning network so it's non-custodial.
If you run your own lightning node, lightning is non-custodial. But strike is just a wallet that uses their own lightning node. So, if using strike, strike has custody of your funds.