Lugano, Switzerland Will Make Bitcoin Legal Tender

Contributor Namcios Bitcoin Magazine
Published Mar 3, 2022 1:13PM EST

Lugano will also ‘roll the red carpet’ for Bitcoin and blockchain businesses and enthusiasts to relocate to the city.

The city of Lugano, Switzerland, will make bitcoin legal tender and allow citizens to pay for public service fees or taxes in bitcoin, city director Pietro Poretti co-announced in an event livestreamed on Thursday alongside mayor Michele Foletti and CTO of Tether Paolo Ardoino. The city has already worked with over 200 merchants to propel the adoption of bitcoin and Lightning payments.

“This is probably the most important thing of this project,” Ardoino said, referring to “Plan ₿,” a city initiative being sketched and worked in collaboration with Tether to attract wealth, smart minds, and opportunities. Tether’s stablecoin USDT will also become a legal tender in the city.

Plan ₿ involves the creation of a physical venue in the heart of the city to function as a hub for Bitcoin and blockchain startups interested in making the city their new home, as well as the go-to place for networking events and hosting Bitcoin meetups and workshops.

“El Salvador’s GDP increased by 10% and its tourism by 30% after declaring bitcoin a legal tender,” Ardoino said. “Imagine what we can do in a city at the center of Europe.”

Poretti said the city would “roll the red carpet” for Bitcoin businesses and enthusiasts, welcoming visitors and prospect relocators with a business-friendly environment featuring minimized bureaucracy and the ideal conditions for a company to thrive.

Plan ₿ also provisions the creation of two investment funds. The first will allocate up to $3.26 million to foster the adoption of bitcoin, USDT, and LVGA, the city’s stablecoin worth one-hundredth of a Swiss franc which will also be legal tender in Lugano. The second represents the formation of a pool of funds of up to $108.6 million for Bitcoin and blockchain startups that wish to relocate and set up their headquarters in the city as well as bring personnel to the Switzerland town.

Another aspect of Lugano’s Plan B involves a close relationship with academia. It plans to create a specialized curriculum on Bitcoin and Lightning in a partnership with local universities to increase the skills of young students in these new technologies. Bitcoin and blockchain education efforts will also include the creation of 500 student grants to create a skillful and specialized workforce.

In late October, the city of Lugano will host the Bitcoin World Forum, a global event focused on the acceleration of bitcoin adoption and the advocacy for freedom of expression, Ardoino and Poretti announced in the event.

The speakers also announced the intention to have Lugano start mining bitcoin as Plan ₿ researches strategies the city could leverage to employ renewable energy sources to yield BTC.

https://www.nasdaq.com/articles/lugano-switzerland-will-make-bitcoin-legal-tender

Release of Bitcoin Community Constitution

BITCOIN BLOCKCHAIN BEIRUT LABS
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1> Hodl your Bitcoin leaving only the amount that can be personally dispensed in mainstream finance.
2> Defend free and open Bitcoin markets anywhere and everywhere around the world.
3> Mine Bitcoin only with renewable energy, even if starting with just one miner.
4> Spread the knowledge, awareness and best practices of Bitcoin whenever possible.
5> Consider with others in the community our unit of account in BTC.

UAE Building Biggest Crypto Mining Farm in World.

Jack Dorsey Touts Bitcoin’s Virtues at MicroStrategy Conference

Jack Dorsey
The Block CEO and Twitter co-founder cites the crypto’s transparent fees.

By: Michael Bellusci

In his first live public appearance since exiting the Twitter CEO role to focus on running payments company Block (formerly Square), Jack Dorsey reiterated his belief about how society can benefit from the adoption of bitcoin.

“We’re the closest we’ve ever been to having a native currency for the internet with bitcoin,” Dorsey said in a conversation with fellow bitcoin proponent MicroStrategy CEO Michael Saylor at MicroStrategy’s Bitcoin for Corporations conference on Tuesday. Dorsey added that the world needs a universal currency where, for instance, decisions made in Washington don’t affect smaller nations on the other side of the globe.

Dorsey also touted bitcoin’s transparency, where fees are clearly visible and understandable, versus traditional finance where charges are a black box and corporate managers can’t always see how they work or are priced.Read more: What Jack Dorsey’s Beef With ‘Web 3′ Is Really About“Slow things tend to last and be more predictable and secure,” Dorsey said, taking exception to traditional tech media’s criticism that bitcoin’s development is much slower than that for other cryptos such as ethereum.

With respect to corporations purchasing or incorporating bitcoin into their businesses, Dorsey said that even if they don’t use bitcoin, every company should study it and how it could potentially improve their operations. Services built around the bitcoin ecosystem will be key, he added.

Enacting Bitcoin Legal Tender Status

BITCOIN BLOCKCHAIN BEIRUT LABS
Today in Jan 4th, 2022, where currently our Government and Banking system backing it have lost credibility, having continually been discrediting Bitcoin all these years but now the tables have turned, unfortunately nothing is changing due to the forces of weaponry and financial graft. To adopt today financial alternatives that release limitations from any capital controls on USD or other currencies, a challenge that we have all been collectively facing since 2019, so with Bitcoin legal tender we also all have the capability of avoiding what is being rolled out for us now, the underhanded CBDC schemes attempting to take over all control of our funds. Bitcoin is digital property of which 21,000,000 coins exist, each dividable by 0.00000001, totally independently run, and is globally considered the ideal form of stored energy. The national transition to financial freedom starts through a request for funds, which must instead now come from the private sector, to distribute support from the general community, in order to:

1) Present a 2 hour educational workshop at the Parliament, to introduce and optionally sell a maximum of ₿0.01 to each of the 128 Member of Parliament's recommended wallets chosen from the official bitcoin wallets selector at bitcoin.org/en/choose-your-wallet for introducing them to bitcoin.

2) Ensure guaranteed open market for freely and fairly trading Bitcoin anytime.

3) Lawyers from the community in tandem with BBB Labs will submit this legislation to MPs at parliament to pass eternally Legal Tender status for Bitcoin in Lebanon. We may adopt a ₿3 deposit option for foreigners who want to work or retire in the country, with permanent residency paperwork, to the multi-signature Bitcoin wallet belonging to our mining trust fund, making sure that any donations must not come from any government, political party or corporate party, and any such support received from such entities must be 100% duly returned. The multi-signatures will be held by 1) our founder, 2) our co-founder, and 3) the BBB Labs secretary, among possibly an additional recommended, tightly controlled external ombudsman.

4) A plan for revamping the production of purely renewable resources for the capability of a USD32.5m budget to have sustained Bitcoin mining by the government in order to independently cover all its budgetary expenses. All Bitcoin mining must be produced through renewable energy resources, whose investment requirement must look similar to the Bitcoin mining requirements. We have contacts with individuals at the most renown local and global environmental agencies that can be consulted to provide the latest technologically advanced conversions of renewable resources into energy, such as those still mostly unknown to the mass market, and have it provided at the best value as well. Lebanon has plenty of sunshine and strong sustained wind is found in Lebanon's extreme northern border strip with Syria. Also, enterprising Lebanese are currently devising Magnet Phase Generators which are increasingly being the favored energy production option, as well as also thorium power plants. The dream of “free energy” is the ultimate answer to our pertinent issues.

5) To ultimately have the unit of account in our government denominated in Bitcoin.

For progress to happen on reversing capital controls and other financial challenges that remain unresolved, the solution is now a responsibility of BBB Labs in Beirut, tasking itself to correct the unjustified financial challenges facing our families today. The necessary resources in order to realize this dream: around $65,000,000 in renewable energy investment, complete Bitcoin mining equipment, introductory workshops, and for attorneys among our community to begin writing legislation for submission to our parliament. This legislation brings freedom to us and our entire Nation by enacting it into law by hand signature at our legislature.

BITCOIN BLOCKCHAIN Beirut Labs.

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Arabic translation needed please

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Our Work In Memory: Three Years Ago


By now, the pieces of their puzzle are being set. What seems emerging from our government is nothing more than a centrally controlled CBDC. These by default run absolute customising controls allowing them to apply different interest rates to each person, even a negative one, or even to apply time limits to this currency!

After being continually lectured by our governments that digital payments should be left to the thieves, scammers, and criminals, and now they’re presenting to us exactly this.. except that it’s even far worse? Now, to say the very least, what does this tell you about the nature of our world governments?

The main concern they always voiced was “the protection of citizen’s deposits”, yes, for them to steal. I will never be interested in any CBDC.

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In Lebanon, Bitcoin is Proving to be a Safe Bet

Original post by: Hugo Lautissier

Liban banques
Lebanese citizens stand in line outside a bank to collect their salaries on 31 March 2020 in the coastal city of Tripoli (AFP/Joseph Eid)

Devastated by the drastic devaluation of the Lebanese pound, more and more people are embracing cryptocurrencies

It’s a small, unassuming office tucked between a dog grooming parlour and a slot machine room in Bourj Hamoud, Beirut’s Armenian neighbourhood. Hanging on the wall are two golf clubs, three golf balls and, above them, a framed poster showing the price of bitcoin, which is rising sharply.

Continue reading “In Lebanon, Bitcoin is Proving to be a Safe Bet”