My Bitcoin Story – Enrique Berrios – Bicoin Fixes Teeth
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Reality of Bitcoin’s Energy Consumption
Enacting Bitcoin Legal Tender Act
![BITCOIN BLOCKCHAIN BEIRUT LABS](https://bbblabs.org/wp-content/uploads/2022/01/bbblabs-banner-transp-e1642041879546-1024x138.png)
Here is the revised text with the sections on the central bank and taxation removed:
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**Title: The Lebanese Bitcoin Legal Tender Act**
**Preamble:**
Whereas, the global financial landscape is evolving rapidly with the emergence of Bitcoin;
Whereas, recognizing the need to foster innovation, financial inclusion, and economic growth in Lebanon;
Whereas, understanding the potential benefits of adopting Bitcoin as a legal tender;
Now, therefore, be it enacted by the Lebanese Parliament as follows:
**Section 1: Definitions**
(a) "Bitcoin" refers to a decentralized digital asset that utilizes cryptography for security and operates on a blockchain or distributed ledger.
(b) "Legal tender" refers to the official medium of payment recognized by the government for settling financial transactions within the country.
**Section 2: Recognition of Bitcoin as Legal Tender**
(a) Bitcoin shall be recognized as legal tender in Lebanon for all transactions conducted within the country.
(b) Individuals, businesses, and government entities shall have the right to use Bitcoin for the purchase of goods and services and settlement of debts.
**Section 3: Consumer Protection**
(a) Consumers using Bitcoin for transactions shall have the same rights and protections as those using traditional forms of payment.
(b) Any fraudulent activities involving Bitcoin shall be subject to appropriate legal action and penalties.
**Section 4: Public Awareness and Education**
(a) The government shall initiate public awareness campaigns to educate citizens about the benefits, risks, and responsible use of Bitcoin.
(b) Educational programs shall be implemented to enhance the understanding of Bitcoin among businesses, financial institutions, and the general public.
**Section 5: Implementation and Transition**
(a) This Act shall come into effect [insert effective date].
(b) The government shall establish a transition period to facilitate the integration of Bitcoin as legal tender into the existing financial system.
(c) During the transition period, the government shall collaborate with financial institutions and businesses to ensure a smooth and secure transition to the use of Bitcoin.
**Section 6: Repeal of Inconsistent Laws**
Any laws or regulations inconsistent with the provisions of this Act are hereby repealed.
**Section 7: Severability**
If any provision of this Act or its application to any person or circumstances is held invalid, the remainder of the Act or the application of the provisions to other persons or circumstances shall not be affected.
**Section 8: Enactment**
This Act is enacted into law by the Lebanese Parliament on [insert date].
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**BITCOIN BLOCKCHAIN Beirut Labs.**
**العنوان: قانون العملة القانونية للبيتكوين في لبنان**
**الديباجة:**
بما أن المشهد المالي العالمي يتطور بسرعة مع ظهور البيتكوين؛
وبما أننا ندرك الحاجة إلى تعزيز الابتكار والشمول المالي والنمو الاقتصادي في لبنان؛
وبما أننا نفهم الفوائد المحتملة لاعتماد البيتكوين كعملة قانونية؛
لذلك، يُسن هذا القانون من قبل البرلمان اللبناني كما يلي:
**المادة 1: التعريفات**
(أ) يشير مصطلح "البيتكوين" إلى أصل رقمي لامركزي يستخدم التشفير للأمان ويعمل على سلسلة الكتل أو دفتر الأستاذ الموزع.
(ب) يشير مصطلح "العملة القانونية" إلى الوسيلة الرسمية للدفع المعترف بها من قبل الحكومة لتسوية المعاملات المالية داخل البلاد.
**المادة 2: الاعتراف بالبيتكوين كعملة قانونية**
(أ) يُعترف بالبيتكوين كعملة قانونية في لبنان لجميع المعاملات التي تتم داخل البلاد.
(ب) يحق للأفراد والشركات والهيئات الحكومية استخدام البيتكوين لشراء السلع والخدمات وتسوية الديون.
**المادة 3: حماية المستهلك**
(أ) يتمتع المستهلكون الذين يستخدمون البيتكوين للمعاملات بنفس الحقوق والحماية التي يتمتع بها من يستخدم وسائل الدفع التقليدية.
(ب) تُخضع أي أنشطة احتيالية تتعلق بالبيتكوين لإجراءات قانونية وعقوبات مناسبة.
**المادة 4: التوعية العامة والتعليم**
(أ) تُطلق الحكومة حملات توعية عامة لتثقيف المواطنين حول فوائد البيتكوين ومخاطره واستخدامه المسؤول.
(ب) يتم تنفيذ برامج تعليمية لتعزيز فهم البيتكوين بين الشركات والمؤسسات المالية والجمهور العام.
**المادة 5: التنفيذ والانتقال**
(أ) يدخل هذا القانون حيز التنفيذ اعتبارًا من [تاريخ النفاذ].
(ب) تُنشئ الحكومة فترة انتقالية لتسهيل دمج البيتكوين كعملة قانونية في النظام المالي الحالي.
(ج) خلال الفترة الانتقالية، تتعاون الحكومة مع المؤسسات المالية والشركات لضمان الانتقال السلس والآمن لاستخدام البيتكوين.
**المادة 6: إلغاء القوانين المتعارضة**
تُلغى أي قوانين أو لوائح تتعارض مع أحكام هذا القانون.
**المادة 7: قابلية الفصل**
إذا تم اعتبار أي حكم من هذا القانون أو تطبيقه على أي شخص أو ظروف غير صالح، فلا يتأثر باقي القانون أو تطبيق الأحكام على الأشخاص أو الظروف الأخرى.
**المادة 8: سن القانون**
يُسن هذا القانون من قبل البرلمان اللبناني في [تاريخ الإصدار].
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**بيتكوين بلوكتشين بيروت لابز.**
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![Liban banques](https://bbblabs.org/wp-content/uploads/2021/11/Liban-banques-1024x689.jpg)
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Since 2001 El Salvador has done away with its local currency, the Colon, and instead decided to use The US Dollar as legal tender. With Bitcoin also now as legal tender, El Salvador made the best choice for securing the nation’s wealth going forward during these uncertain geopolitical times.
Stating the ease of payments and remittances which much of the country depends on, as well as the fact that many El Salvadorians aren’t banked, Bukele sees Bitcoin as the ideal solution.
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🚨 🚨 🚨 🚨 🚨 🚨 64,000,000 #USDT (64,000,000 USD) transferred from Tether Treasury to #Binancehttps://t.co/lXFTUJTNPp
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Chart of Bitcoin’s Comparative Energy Consumption
![](https://bbblabs.org/wp-content/uploads/2021/05/IMG-20210528-WA0029-1024x570.jpg)
It’s Price Upside From Here for Bitcoin
Original Post by: Bashir Barrage
Sit tight if you’re at a net loss now, buy more if have the cash. This is a regular occurrence every 4 years, they FUD on it during the bull-run to buy cheaper.
![](https://bbblabs.org/wp-content/uploads/2021/05/E2C_aHEXIAI29ux-1024x614.jpeg)
This chart is the most accurate price model for Bitcoin that I found. The Bitcoin price has a 94% standard deviation accuracy from the model here. From here, any downside in price will be minimal, the upside will be tremendous. It’s like a coiled spring.
See the investing section of the Bitcoin Resources to learn more about the Stock to Flow model.
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