Claim Your Bitcoins

As per the recently released information, it has been found that Twitter is working on the groundwork that will help in Bitcoin tipping for different content creators.

As per many rumors, the Twitter iOS Beta includes the line of code that will help Bitcoin become a component of Tip Jar. In fact, as per a report released on techtimes, CEO of Twitter Jack Dorsey has also given hints about Bitcoin tipping. Thus, it can be concluded that Bitcoin tipping is in the pipeline for Twitter.

The Tip Jar was introduced by Twitter in May as a way to reward content creators on Twitter. If the rumors and reports about Bitcoin Tipping by twitter are true, BTC will be added along with big businesses like Cash App, PayPal, and Venmo, who are also accepting payment on the Tip Jar.

After the rollout of the features, Twitter may also offer a brief tutorial about Bitcoin as well as the Lightning Network. As per a report by MacRumors, the feature of Bitcoin Tipping will use the Lightning Network payment gateway for invoice generation.

Users don’t need to worry as the tutorial will also help them in understanding concepts like the use of custodial and non-custodial wallets.

With each passing day, lots of features are added by businesses that make use of Bitcoin. This is not the first time that Twitter has been excited about using the Bitcoin feature. In early August, Twitter also announced a plan to build a decentralized exchange, especially for bitcoin.

CEO Dorsey has also described bitcoin as the key to Twitter’s future. As per his vision, Bitcoin will also be used in services like commerce and subscription for Twitter. This move by Twitter will also bring Crypto Tipping to the mainstream. As per a report, Dorsey also revealed that they were also developing an “assisted custody” wallet for bitcoin use.

In the summer of 2021, the Chinese authorities announced that they would restrict users from mining and trading cryptocurrencies because of its extremely volatile market. This news has subjugated the news cycle of cryptocurrencies, and it has led to a drop in the value of all crypto coins. Chinese authorities first urged all the financial service providers to strangle the crypto transactions and trading and then ordered crypto trading providers to shut down everything. All the initiatives coming from Beijing had great consequences on people who invested in cryptocurrencies, which has led to a downturn in the market.

Are all these actions of Chinese officials affecting the crypto market? Will it affect the demand and supply of digital assets? Moreover, it has been seen that whatever happened in China is also affecting other countries but not in a negative way.

Supporting Digital Yuan

It can be easily seen how intensifying tightening up on mining and trading of digital currencies comes along with China’s Central Bank Digital Currency project. Chinese officials implemented a lottery system in which stacks of fiat currencies in electronic money have been added to the wallets of around 200,000 Chinese citizens. This is done to test the digital currency electronic payment systems. It can be expected that China is working on large-scale trials and is soon to implement something big in the coming months.

If we talk about the distribution of economic or political power, leaders of China are in the habit of encouraging rivalry and pluralism. The sprawling crypto sector of China could avoid analysis as it was not in straight conflict with strategic plans made by the government of China. The professor of business analytics of China named Yu Xiong said in an interview that China would not allow Bitcoin revolution or other cryptocurrencies to grow or explode. He added that Bitcoin would be a financial disaster if China started using it as a currency. He explained that China has CBDC, which is centralized and controlled by financial institutions, and there is simply no need to promote any decentralized digital currency.

The Global Situation

The entire world is witnessing that the crypto industry is breaking into pieces. Chinese traders will cease crypto trading, and mining will vanish or open up shop in another jurisdiction. Chinese citizens who loved using digital assets will now have to use the government centralized alternative instead of digital assets.

Pharmco Rx is a Florida-based company for progressive care that has recently announced in its press conference that it will soon start accepting bitcoin as a form of payment for covid-19 testing. This pharmacy chain in the United States welcomes customers who want to pay with bitcoin for rapid testing services. The CEO of Progressive Care Inc. said that bitcoin is a great alternative for tourists that are coming from abroad to get the covid-19 testing services and treatment that they require.

The Company even said to kryptographe.com that there are around 50,000 visitors that come from abroad, and they are expecting a whole lot of customers that require testing services. They have even generated a scannable QR code that customers can scan easily to make bitcoin payments and fulfill the requirements of the cryptocurrency community. This will be easy for customers as well as companies to get payments hassle-free.

US-based Progressive Care Inc. has claimed that it has become the first pharmacy that has provided its customers the option of crypto payment three years ago. Recently the company is expanding its commitment to accepting a popular cryptocurrency, Bitcoin. Along with it, Pharmcorx is also enlarging their admittance to PCR tests that are required most by domestic and international airlines with the continuation of a covid-19 pandemic. It is a great solution for tourists post-pandemic to come to pharmacies from abroad and get their rapid testing done.

Florida-based Pharmcorx invites Bitcoin Owners

Not only is this, but Pharmcorx is also inviting bitcoin billionaire holders across the world to its locations. It is increasing its accessibility of providing rapid covid-19 testing services for global entertainment companies, international airlines, corporate employees, and chain restaurants. Only after announcing that Pharmco Rx has started accepting cryptocurrency have they been flooded with people. The company has already tested around 10,000 people and has earned around $1 million dollars as its revenue. This is what makes bitcoin currency different from fiat currencies. It opens a whole world of opportunities for companies and businesses to grow.

Bitcoin offers endless perks to its users and is helping every industry to grow in this competitive world. By the way, have you ever used any cryptocurrency to pay at the pharmacy for covid-19 fast testing? It’s the right time to make your work easier and get the testing services at your convenience.

The new episode of Blockchain and Booze was all about the Layer-two solutions and their use on the Ethereum network or Bitcoin Era. The show featured Stani Kulechov, CEO of Aave, Jack O’Holleran, CEO of Skale, and Antonio Juliano, founder of dYdX, the experts of the blockchain industry. The discussion was started with the high fees and was quickly converted to the advantages of decentralized finance. Transferring an Ethereum transaction is becoming more and more expensive and the network gets heavily congested; Layer-two solutions can be very helpful in this situation, it can decrease the load of the network and can also make transactions fast and less expensive. As Aave’s Kulechov stated, the disruptive potential of layer-two solutions is massive. Not only are they incredibly promising, but they are still a nascent technology that has yet to be fully implemented: “Lots of these [layer-two] developments on Ethereum aren’t even being deployed yet. We’re still very early on scaling up, but the huge number of people executing on layer one is an issue.” The three guests are in support of Layer-two as it can be a big step towards making the decentralized system more efficient and powerful. But the question that arises here is how Layer two actually work does.

Working Procedure of Layer-two explained:

When coming to the working procedure of Layer-two O’Holleran gave a brilliant example that stated, the settlement layer of Ethereum is the game of poker and layer-two is the record of gains and losses. In the games of poker, the players don’t cash out their winnings after every game instead, they just maintain a record of their wins in a ledger at the table; after the player decides to not play anymore, and they cash out their winnings. Similarly, in layer-two solutions, the users can trade with tokens in the layer-two network till they want to exchange it with Ethereum.

DeFi:

DeFi is short for Decentralized Finance, or which has no authority to control over. DeFi has many advantages such as transparency, free for all services, etc.; upon asked about the “end goal’ of DeFi is, O’Holleran responds after a short pause, “The power of these systems goes beyond DeFi. Marketplaces, social media, gaming: These can all be disrupted through decentralization. Ultimately, we want to democratize finance.” And Juliano adds to the statement “The goal is really big. The financial system is the most permissioned, trusting system in the world. We can build something parallel in DeFi — small at first, but eventually, it could be more profitable to use DeFi because of better interest rates.” The DeFi space appears huge and stable to many people as it crossed $100 billion but, when it comes to the financial view it is a very meagre amount. O’Holleran predicts that “The smart CeFi business will begin to figure out how to inject them into DeFi, and the DeFi space will improve as a result.” CeFi means Centralized Finance and it means that some companies and institutions store their funds to provide services.

The usage of cryptocurrency is increasing rapidly in India though there are many regulatory challenges. However, these challenges are considered as tiny by people. There is a lot of speculation going on in this country regarding the usage of cryptocurrency and legalizing this currency in the country along with the other cryptocurrencies. The speculations have gained momentum in February when one of the Ministers in India stated to Yahoo that there would be a nationwide ban on the usage of cryptocurrencies. People who hold this currency must exchange this in a matter of a few months. It shook the traders and there is a lot of fear that has been experienced amongst users of cryptocurrency.

However, the Finance Minister, Nirmala Sitharaman told CNBC that blanket ban on the cryptocurrency is something that is overstated. If there is anything related to the ban, there would be a much more calibrated approach would be followed.  The calibration has boosted the confidence levels of people and this has resulted in the spike of buying and selling cryptocurrencies in the cryptocurrency exchanges. There are a lot of sign ups happening in the exchanges. It was noticed in WazirX, which is one of the exchanges in the country. The head of the communication of WazirX, Priyanka Sharma stated that there the exchange has received a lot of signups in the month of April compared to the last six months. There is another cryptocurrency exchange that is based out of India; CoinDCX stated that the signups have been doubled in the first quarter compared to the first few months of 2020. It was stated by the CEO of the company, Sumit Gupta.

There are a lot of speculations happening in the country about the ban of cryptocurrency, which has been neutralized with the developments happening in the cryptocurrency world. There are many major firms who are embracing this cryptocurrencies along with bitcoins such as PayPal, MicroStrategy and Tesla which were not noticed by people since the start of COVID-19 lockdown. There is a steep rise in the crypto interest. In the last 12 months, India has observed a spike in the investment on cryptocurrencies with the bank removing the ban. In the lockdown, there are a lot of people who have shown interest in learning about the cryptocurrencies.

The data that is acquired from the publicly available plugins have disclosed that WazirX site has seen a rise by 630% in the last six months and the number of visitors to the exchange has climbed from 5,00,000 to 4 million. There are a lot of signups happening on the website from the people aging 20 to 30. People are pretty confident about the approach being taken freely when the laws related to cryptocurrency would be passed. CoinDCX also observed a rise in the visitors. The majority of signups that this exchange got is from the people aging 18 to 34 years. The FUD created in February would be dismissed and there is no bill that was passed yet. There is no ban that would happen on this currency. With the decision of the Supreme Court with not banning this currency, the demand for this is on the rise. There are around 750, 000 investors in this country who have invested in 340 plus crypto startups.

In a new report, it is out that bitcoin Google searches are rising in Cuba. It is showing the broad interest of Cubans in Bitcoin. With the increased search for Bitcoins, Cubans are attracted to Bitcoin and use it as a digital payment method. Cuba is seen with the high BTC interest due to the influx of activity involving BTC. Due to the high part of Cubans towards bitcoin, more and more people are searching for it. In the pandemic times, tremendous attention is paid to Bitcoin by Cubans.

As per “Google Trends” data, it is in an update that Cuba holds the second rank in the list of people interested in Bitcoin within 30 days. Along with Cuba, Nigeria is also following the trend and appears in the topmost countries looking for BTC over Google search from April 2020. Among the rest five nations in the top Google searches for Bitcoin revolution, all are the African nations, including Ghana, South Africa, and Cameroon.

A significant light is paid upon Cuban’s increasing towards Bitcoin-search on Google due to the Cubans shifting towards Bitcoin as a payment method. It is due to avoid any sanctions stated by the United States over accessing the financial sector’s services digitally. Since several payment companies online are not active for the Cubans, the pandemic situation due to coronavirus created significant restrictions that impacted payment methods.

In October 2020, a YouTuber and programmer names Erich Garcia came up with a light over Bitcoin usage. Erich urged the nation to enable Bitcoin transactions for remittances on cross-border and claim that buying bitcoins can help transfer it to the island people using a crypto exchange medium available for Cuban island- BitRemesas. In the statement, it

included:

“We cannot get access over certain famous payment options, including Mastercard, Stripe, Union Pay, or Paypal. Not any resources are available under our accessibility. What is available by technology for us? It is Bitcoin and Blockchain!”

Mario Mazzola (Cuban-Italian origin entrepreneur) released the first exchange for decentralized Bitcoins in Cuba, named “Qbita,” in April 2020. The entrepreneur claims that Cubans can use the business to buy or sell bitcoins since other crypto exchange services are not in active status under the country. Mazzola called it a new deal that is available for Cubans.

In the recent pandemic time, crypto figures like Bitcoin came in the public figure as a much-known payment method for Cubans.