Daily Crypto Markets Live Blog: More Than Half of Latin Americans Paid With Crypto (06/22/22)

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Here is the post for the Daily Leo Talk. In preparation for the upcoming Microblogging features, this is a good place to start conversations, posts charts, memes, trades, or anything else that comes to mind.

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We can think of this as a Reddit type engagement thread. We are not dealing with long form content so topics of discussion can start off with a top line comment. We can fill in from there.

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Crypto payments are popular in Latin America.

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Hello, it is interesting to see the results of this survey. I can speak about my own experience in Venezuela. The first time I made a payment with cryptocurrencies in a local store was in 2018. I have used on several occasions BTC, Dash, and BCH to make payments for goods and services. More recently we have started to see many venues accepting payments in USDT, and it is common for many venues to now accept direct payments through Binance Pay.

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This is just one aspect of crypto adoption that is not growing rapidly in Africa. We rely more on P2p trading. Merchants are not openly receiving crypto as payments.

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That's the only way we survive here as our leaders seem to be archaic and not appreciate new technology.

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I dont think it is too wide spread. The US doesnt have much either, nor does Canada I believe.

It will take time. I think the other areas like lending and collateralization are far more important. That will take off quicker.

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For a nation like Nigeria, P2P is essentially the only way to use crypto at the moment. Things may be better for crypto in a nation like the Central African Republic which became the 2nd nation after El Salvador to adopt Bitcoin as legal tender crypto.

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Here they started to accept them in some places as an alternative way to overcome the crisis the country was going through. At that time, there was a shortage of local cash and a lot of government controls. I guess it was the perfect scenario for cryptos to enter the scene.

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It only makes sense that we will see retailers accepting stablecoins at some point. We truly need to develop that aspect of the industy.

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The crypto industry should be more focused on microfinance which has huge potential in the retail market. And for that it is also needed to ensure a better popular network with negligible gas fees and a truly stable stablecoin. We are advancing in that direction, but the noise around USDT and the fiasco like UST should stop to imbibe confidence.

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I see it makes a lot of sense in places like Venezuela, which had the perfect scenario for that because of the crisis. With inflation, a shortage of local cash, and a devalued currency that continues to devalue every day. Those who do not have access to dollars or euros seek refuge in cryptocurrencies and stablecoins represent a great alternative to try to circumvent the crisis.
However, in developed economies, I see it as more difficult because what is the incentive that the common citizen can have to use them daily.

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This goes a long way, you've been into the game.

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Yep, I've been interested in crypto since the end of 2015.

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That's a long time coming, I didn't even know the word "cryptocurrency" as of 2015.

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I started to use them as a way of getting around the crisis that was beginning to develop at that time in Venezuela and as a way of generating a little extra income.

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It is interesting… more venues will accept direct payments. Great to see so much can be payed already with crypto.

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It all feeds into each other. More merchants mean people will have an outlet for their crypto.

If that is the case, more will look to acquire it.

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It does…
More people want crypto.
Good for us too, the ones that already hold crypto.

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Yes. We still need a lot of infrastructure but it is vital that we keep building.

The trailblazers are going to benefit a great deal financially. It is exciting to see.

This is going to make a lot of people a fortune. Hive is really a fantastic place to be.

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We are building and most do understand the importance of it 😁

They will… what is exciting to see.
Hive will and already changes so many lives.

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We are getting close to another monthly update on the growth of your account.

I look forward to it.

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Yes… we do. Still going strong 😉🤩 just earnings… I still haven’t bought.

Thank you!

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If we wait for the major retailers or big box operations, we'll be waiting a long time time. This is where independent retailers and mom-and-pop stores can take the lead for a change.

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Yes, good point. That is exactly where the small businesses can take the lead.

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Yes, cryptocurrencies started to be used here at the time a bit out of necessity and today they can be used to pay in some spots. And they are mainly used by people who work as freelancers on the internet, and there are not a few of them here by the way. ;)

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It all evolved out of necessity.
Yes I know… there are many freelances. I saw another post today highlighting active people in countries.
And Venezuela was the highest.

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It is awesome that you are seeing more and more options of crypto payments in your country, sis. With the acceptance of USDT there, it is likely that more avenues might open for other stablecoins too.

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As long as our local currency is devalued and there is so much inflation, nobody wants Bs. And with all the bad things that imply, on the other hand, it is a good scenario for people to want to have alternative ways of payment.
Have a good evening, sis!

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Yes, in a way, the devaluing currency opened up channels for more payment options. Thank you and good morning to you ❤

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Yep, sis! That's why it's said that in crisis comes great opportunities for the one who knows how to see them. ;)

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Great and interesting statistics. It's a gradual growth but great milestone are being made in terms of crypto adoption. It can only get better each day passing.

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We need it to come from all angles. Having it as part of the payment systems is important.

But we need so much more than that. All bases need to be covered.

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This is a really cool and pretty interesting survey. It's really great that both consumers and merchants have an interest in crypto in Latin America.

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Latin America is known for its poor financial and banking systems. So it is not fully surprising that crypto is being adopted to some drgree.

We just need to keep building on it.

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Yes, you are right.

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Amazing! And it seems Latin America is very open to crypto and more are accepting it as one of the payment options.

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It's pretty interesting seeing the different levels of adoption, which are often closely related to the banking system and where one's income originates from and where it is headed.

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Samsung about to mass produce the 3 NM chip.

The next-generation 3nm chips will be built on the Gate-All-Around (GAA) technology, which Samsung said will allow up to 45 percent area reduction while providing 30 percent higher performance and 50 percent lower power consumption, compared with the existing FinFET process.

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Bitcoin is holding above $20K, just barely.

We will see where the market takes things going over the next few weeks.

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The good thing is that every bear season would always empty into a bull session no matter how steep the dip was.

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The bear does go into hibernation at some point.

It is only a matter of time before we see it.

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Been seeing a lot of remarks on the dip getting deeper. We know actually that anything can happen.

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There is a lot of fear and anxiety in the crypto market. Many investors believe in further declines. Good news is needed for fear to subside.

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Markets are not reality unfortunately. They major in insanity. For that reason, as much as possible, we should ignore them.

Instead focus upon the rollouts and building that is taking place.

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Yes, I totally agree with you. Generally, new and inexperienced investors fall into fear and panic.

Surely the bears will go to sleep one day, until then I will continue to build.

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Between the insanity or markets that are more like casinos and "The Metaverse" with its NFTs is the real-world infrastructure which will make cryptocurrency a payment option as viable as credit cards.

ForEx-level liquidity is needed for cryptocurrency to succeed, and that will take a while. This way, it won't matter if we want to buy something using Hive or SafeMoon while a merchant accepts only Bitcoin or Hobonickels.

Maybe a cryptocurrency equivalent of the Eurodollar system needs to evolve.

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Citi is building its digital asset platform. The bank is very high on the potential that is before us.

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It's good that they are listening to their clients.

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REMINDER!!!

Time to get those #CANDIES. They are ready to be placed in your jars. Have you been getting them?

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Starting my new ride with 20 CANDY claim.

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You didnt like the old ride?

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Collected 60 today 🥳🥳
Almost…

Good morning, day and evening all 👋🏻

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You get to be on top tomorrow..and then the long fall to the depths of CANDIE hell.

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Hahaha it’s nice on top 😎 hehe
I don’t mind starting all over again…

Are you still at the same level?

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Yes I am. We both are on top.

Not sure how that works but perhaps my visual is awry.

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Hahaha lol 😁😎🤣
We will find out tomorrow 🤩

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Just put 40 candies in the jar.

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Next up 50....

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Yes, that's it.

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I got my 60 candies, I'm at the top tomorrow :)

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Yay… congrats!
Me too 🥳🥳

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Tomorrow we are at the top together :)

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Yes, quite a few of us will be on the top ⛰🤩
Yay…

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See you at the top on the new day :)

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See you there… I’m on my way… 😉🧗🏻‍♀️

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We are on track :) Got 60 in the jars this morning. Just nice stacking them up

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Congrats… 100 is next 😁🤩
Good day to you @ifarmgirl 👋🏻

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Thank you and congrats to you too❤ Good morning 🌞

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You are welcome 👋🏻😁
Thank you so much ☀️💃🏻💃🏻☕️☕️ Time moves fast again today. So much to do hahaha

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It looks like we are going to get #ProjectBlank in the next couple months.

The most recent AMA had Khal mentioning this. It seems the work on Leoinfra is jumping by leaps and bounds.

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I think I missed that. Need to listen to the AMA report again. Really a great news.

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Yes I should have noticed the time but I didnt pay attention.

It is exciting to see how close it is getting. Neal even mentioned how the Hive whales might downvote the posts.

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Sounds interesting as I recall you got my attention to it.

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Faster than expected, cool 😎

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Been almost two years since we started talking about it.

@leomarkettalk was the result of those discussions with the intention of being a short term option while waiting.

Who knew what short term would equate to?

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Ok, before my time here… lol than it’s not that fast.
But I thought he was thinking later this year, and coming in a few months with it now, sounded faster to me.

Something good came out of it, even though short term is longer than most know… 😎

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Yeah kind of like a divorce.

Things can just drag on. Khal needs to get on the ball and free us all.

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Sounds like it…

He sure does!

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That is good to hear. They are working fast or perhaps more devs have come aboard :)

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Hello. Good morning from Nigeria. It's a new day!

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Where I am, it is still yesterday for you. LOL

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Good morning, 01:14am

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Morning… it is a new day indeed.
Night night here at 02:16am in Spain. 🥱😴😴

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Morning boss!

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Good morning and hope you are having a great one

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This is an interesting one to start with...

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I dont know if she is married and the act that I am against it but I might have to marry this women.

Hester Pierce is at it again, nailing the SEC to the wall.

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Ask her 😎😉

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Ask her for what?

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If she is married lol 😂

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Gotta love her for what she is doing. She sure is making her "lone" voice heard.

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I am not surprised. This central bank official is "well-informed." All he could say about the value proposition of cryptocurrency is based on Greater Fool Theory. In his eyes, cryptocurrency is "very scary" and implies that the government has the right to know everything about your money.

Source

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Binance.US Launches Zero-Fee Bitcoin Trading

Why don't they do this on their global site? Do they need customers only in the USA? :)

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Oh, that is so good for US users. Perhaps a strategy to get more US client

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Definitely pretty good for US users. But wouldn't it be much better if they did it on the global site?

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It would be great if they do it in all their sites. It seems they got some favoritism, lol!

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Wherever they are losing customers, they concentrate on it. Centralized exchanges are always the same. :)

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A few months ago I learned from @forexbrokr that the Natural Medicine community lost its tribal front end when it let its domain expire. The domain is up for sale; you just need to be willing to part with USD 9,988.00 to buy it (or to buy it back).

Even so, this is not the end of the Natural Medicine community; it's just a bit harder to locate these days.

The best way to reach Logo for the Natural Medicine community is at this URL:

For anyone else interested, more background as to what happened can be found by following this link.

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After bailing on their front-end, there is now literally no use case for the token and I'm actually sad to see LOTUS go to all buy zero.

Filling one of the big 3 niches (wealth, health and relationships), they were primed to do what LeoFinance has done in the wealth space.

RIP...

PS. Haha is that someone from the community selling the domain for 10K?

Or did they let it go then some random pounced and put it straight up for sale?

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Whoever owns the domain today maintained the privacy protection on the WHOIS record for the domain, so it's hard for me to answer that question for you.

Admittedly, the token is not worth much these days, but it's worth more than other tokens commonly used. Anyone who uses the LOTUS tag in their post can earn LOTUS tokens.

According to the pinned page whose link I included, the Natural Medicine community has been reconfigured (or decentralized) into a few newer, smaller communities. These newer communities seem to be active with posts and comments and replies. They still see value in the community, even if it isn't what it was at its peak.

For anyone wanting to post there, the key is to include the "hive-######" number in the URL. I may give it a go if for no other reason than reconnaissance to see how responsive people there are. If I see that they are responsive, I'll continue my recon. If I still get response in any way, then perhaps the reconfigured umbrella community of Natural Medicine can regain traction.

Given the niche nature of the community, any marketing effort I make is better spent at Natural Medicine than at the general-topic PoB community. I have my own reasons for wanting to market Natural Medicine in whatever form it has today, but if the reconfigured community can make a comeback then that's good for Hive.

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They have a core group that makes their community strong...

...but a strong community doesn't magically lead to a strong associated token.

They say that the LOTUS token is theirs but holding it literally has no bearing on the community whatsoever.

Without a front-end that uses LOTUS stake weighted voting to display content, there is literally no reason to buy it and thus price will go to zero if they keep printing to randomly "reward" posts on other front-ends.

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naturalmedicine.app is a WordPress site mainatained by @thelogicaldude; it shows the latest posts from the Hive side of things, but some pages pointing to naturalmedicine.io get redirected to the "domain for sale" page.

Maybe that's a work in progress unrelated to any effort at getting a front-end. If the intention is to set up a landing page to recruit new Hivers, that's still out of commission. All I can do is pass it along to @thelogicaldude and he can take it from there. Beyond that, I have no idea what will happen.

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They key work WAS maintained, lol. Yeah when they decided to basically do away with the community, I stopped messing with that site really. When the .app domain is done, I am not renewing.

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So what's done is done. Essentially they're on their own over there. I wish them good luck then.

Thanks for dropping by to clarify things a bit.

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