Can you imagine being extremely fearful about Bitcoin at close to $40,000 per coin?... This price level was only a dream just about four years ago. Yes, I know, four years in cryto is like four decades in the real world, but despite that, the plebs seem to be extremely fearful towards Bitcoin.
According to the fear and greed index the sentiment towards the leading crypto by market cap, and I'd add adoption too, is in extreme fear territory. I wonder how people feel about inflation, by the way.
The masses are always wrong, dumb and too fearful. They're also easily manipulable and lead through fear. In continuing with China's completely rational and totally not suspect "Covid Zero" policy, reports are now coming in that Chinese authorities are building "cages" around some homes. Can you imagine that?
Orwell wasn't envisioning such a reality not even in his wildest dreams. The caging is not just physical, as the Chinese seem to be foolishly embracing the digital yuan, which is true rat poison if you ask me.
Some Chinese citizens now appear to be paying their taxes in the digital yuan, with the pilot gathering pace in the nation’s fast-growing pilot area. Out of convenience, humans will always give away their freedoms and liberties until such giveaway shall be irreversible and highly regrettable.
I am still baffled about crypto news outlets reporting such garbage. If you call yourself a crypto media outlet aren't you supposed to "report on crypto and blockchain"? Crypto is not yet the perfect world we've been dreaming of. It is gradually becoming as such, though.
The people of Panama may soon be able to buy their morning brew with Bitcoin: the country’s legislature just approved a bill regulating the use of cryptocurrencies in the country. There have been talks of Panama adopting crypto, not just Bitcoin as legal tender for over a year. I guess it happened before El Salvador announced their legalization for BTC as a means of payment.
“Today I can go and pay for something to a merchant, and if the merchant wants to accept crypto, it's allowed, it's legal. Until today, that didn't exist in Panama, we are making it happen. I can go and pay for something to a merchant, and if the merchant wants to accept crypto, it's allowed, it's legal. Until today, that didn't exist in Panama, we are making it happen”
-Congressman Gabriel Silva source
Why Panama, you would ask... Well, probably because this country has 50% of its citizens unbanked and what better banking could you have than Bitcoin(crypto). It's all coming into place, or better said the domino plays have started to fall. I would have never imagined a tiny country such as El Salvador pushing the mass adoption for Bitcoin in such a manner, but than again, it is the developing countries that need crypto the most.
We're entering an era where digitization is gradually reducing the geo location impact on economies. People in Nigeria, Venezuela and Eastern European countries are overcoming their economic limitations through crypto. Panama is not Germany, thus it makes so much sense for it to embrace crypto at such a deep level.
So to end this post with even more bullish news about Bitcoin, it just came out that a Miami based lending firm is offering crypto backed mortgages if you have 100% of the value of the home in crypto. Now, after reading the post entirely and summarizing some of the best news in crypto in terms of mass adoption imagine that the majority is still extremely fearful towards Bitcoin.
The majority is always late, wrong and fearful, just stick with minorities like Leofinance on Hive.
Thanks for attention,
Adrian
