bitcoinerRealista

conspiracy

**TL;DR**

This is an article about a legal battle between a social media platform and the Brazilian government. It discusses the platform’s refusal to comply with court orders. The Brazilian government is accusing the platform of being a tool for criminal activity. A Supreme Court justice is investigating the platform’s CEO. The Brazilian government is imposing a fine on the platform if it does not comply.

original sources:

https://noticias.uol.com.br/colunas/reinaldo-azevedo/2024/04/08/banditismo-de-musk-1---magnata-expoe-pretensao-das-big-techs-ser-governo.htm

https://noticias.uol.com.br/colunas/reinaldo-azevedo/2024/04/08/banditismo-de-musk-2---mais-duro-do-que-parece-moraes-acena-com-a-papuda.htm

---

Muskerade 1 - Tycoon Exposes "Big Techs'" Government Ambitions: See the main news and headlines of the day in Brazil and the World. Read texts and watch videos on Politics, Daily Life, Crimes and more. By Reinaldo Azevedo Apr 08, 2024 07:59 AM · By launching a crusade against institutions in Brazil, the tycoon also drew a line, which is positive, even if it was not his intention. Join the social networks - with emphasis, as could not be otherwise, on Twitter - and see there those who align with the "madman" and those who recognize that he has crossed the red line. Attention! No one needs to be an enthusiast, as I am, of the minister's and the Court's actions to recognize that it is absurd for the CEO of a company to demand the head of a judge, announce that he will no longer respect the decisions of Justice, incite disobedience to the law and obstruction of investigations, including those of criminal organizations. Minister Moraes' reaction was firm and precise. It is worth reading carefully because many "Zé Manés" will expose themselves to preventive detention thinking they are under the protection of the powerful. In any case, people are free to choose their prison. Musk, I insist on this point, did not limit himself to expressing his disagreement with decisions made by a Brazilian judge - always, when necessary, endorsed by the court. It would already be improper, given his role, but go ahead. It was not like that. He organized an intimidation operation of one of the Powers, using as a tool the supposed journalistic delinquencies of a certain Michael Shellenberger, who criminalizes the regular work of Justice, the Federal Police and the Public Prosecution Service. The situation became clearer: there are those who stand with the destroyer of institutions, serving, in Brazil, the interests of Jair Bolsonaro, and there are those who defend them. Period. "Ah, I am not on either side ..." Well, it is. In these things, either you are on the side of the rope or the side of the noose. If not the rope, perhaps this neither-nor was rejected even by the reactionaries; if not the noose, perhaps he lacked courage. He turned the shit of the bandit's horse.

---

Musk Thuggery 2 - Tougher Than It Seems, Moraes Threatens Jail

See the main news and headlines of the day in Brazil and the World. Read texts and watch videos about Politics, Daily Life, Crimes and more.

For those who didn't understand: Musk, this man already a trillionaire in our currency, provided the obvious link, but one that begged for confirmation, between these investigative fronts. Of course, the networks - and we're talking about Twitter now because it was the crazy one who announced that it will not respect court decisions and incite the commission of a crime - made themselves the "locus" and the main instruments for the commission of these crimes.

"But will he be arrested by Alexandre?" He doesn't arrest anyone. The laws do. If the Brazilian Justice does not reach the candidate to be the owner of the world, it can reach his company and those who participated or will participate in his crimes.

The minister himself, it should be said, explains:

"The flagrant conduct of obstruction of Brazilian justice, the incitement to crime, the public threat of disobedience to judicial orders and of future lack of cooperation of the platform are facts that disrespect the sovereignty of Brazil and reinforce the connection of the DOLOSA CRIMINAL INSTRUMENTALIZATION of the activities of the ex-TWITTER, now "X", with the illicit practices investigated by the various inquiries previously mentioned, and should be the object of investigation by the Federal Police."

Musk confessed. He announced the intent. And he decided to double down.

WHO WANTS TO BE ARRESTED RAISE YOUR HAND

About the campaign launched by the magnate, he writes:

"It happens that, on 4/6/2024, the owner and CEO (Chief Executive Officer) of the social network provider 'X' - formerly 'Twitter' -, ELON MUSK, started a disinformation campaign about the atuação do SUPREMO TRIBUNAL FEDERAL and the TRIBUNAL SUPERIOR ELEITORAL, which was reiterated on 4/7/2024, instigating disobedience and obstruction of Justice, including, in relation to criminal organizations (art. 359 of the Penal Code and art. 2º, § 1º, of Law 12.850/13), also declaring that the platform will rescind compliance with the orders issued by the Brazilian Justice related to the blocking of criminal profiles and that spread fraudulent news, under investigation in this SUPREME COURT."

Translating again: Moraes points out disobedience to a judicial decision and obstruction of the investigation of a criminal organization. Just to remember: obstructing already yields, by itself, preventive detention. So much the worse if, in doing so, one seeks to prevent the investigation of the aforementioned organization, which has a permanent nature.

"Ah, the rich guy won't be arrested here, will he, Reinaldo!?" Well, he won't. The question is who, being subject to Brazilian laws, intends to be a "martyr" in his place.

FINE

He also determined:

"The social network provider 'X' ABSTAIN FROM DISOBEYING ANY JUDICIAL ORDER ALREADY ISSUED, INCLUDING CARRYING OUT ANY REACTIVATION OF A PROFILE WHOSE BLOCKING WAS DETERMINED BY THIS SUPREME COURT OR BY THE TRIBUNAL SUPERIOR ELEITORAL, under penalty of a DAILY FINE OF R$ 100,000.00 (one hundred thousand reais) PER PROFILE and responsibility for disobedience to the judicial order of the legal representatives of the company in Brazil."



Musk's Banditry

bitcoin

This is an article about the potential for private justice systems. It discusses the inefficiency and high cost of the traditional court system. The author proposes that private arbitration systems could provide an alternative. These systems would be based on voluntary contracts and dispute resolution by chosen arbitrators. The article also describes a specific private justice system called PLS. PLS uses bitcoin and smart contracts to enforce agreements. The author argues that PLS could improve the justice system by making it more efficient and accessible.

Bitcoin Enables Creation of Private Justice System

news translated from [future of money](https://exame.com/future-of-money/prosegur-bunker-sao-paulo-carteiras-criptomoedas/)

The space will serve as a digital asset management point for clients in Brazil and Latin America.

The Prosegur, a company specializing in the logistics of transporting and storing valuables, announced this week the launch of a "bunker" to store physical cryptocurrency wallets. The operation will be headquartered in the city of São Paulo and is the first of its kind in Brazil and Latin America.

Named "cryptobunker," this storage solution was launched by Prosegur in 2021 in Spain, consolidating wallets from various clients across Europe. Now, this innovation arrives in Brazil and is expected to have continental coverage, also receiving wallets from clients in other Latin American countries.

The custody of these cryptocurrency wallets is managed by Prosegur Crypto, a subsidiary of the company dedicated to the crypto world. The company states that the bunker is a response to "the needs of the crypto asset market, which has been growing exponentially with the creation of new digital currencies."

"In Brazil, for example, the Drex - the Central Bank's digital currency project, promises to revolutionize the financial and commercial landscape, and the company has been preparing to meet this demand," the announcement about the bunker's launch emphasizes. In addition, Prosegur states that it aims to "support new forms of payment through digital currencies."

Crypto Advancement in Brazil
José Ángel Fernández Freire, Corporate Director of Innovation at Prosegur Cash and CEO of Prosegur Crypto, explains that the company is "expanding our services in response to a market that is transforming."

"For financial institutions, with a special focus on banks, a wide window of opportunity is opening up in the field of digital asset custody, and we feel very confident in offering a solution that is based on the same excellence and know-how as our traditional custody service, adapted for the digital world," the executive explains.

The company's current goal is for the Brazilian bunker to hold 50% of the entire Prosegur global operation involving crypto assets. The company also emphasized that the crypto market has been growing among institutional investors, which will require adaptations to serve this audience.

"In Brazil, we will adopt a complete security and custody system that combines infrastructure, installation, state-of-the-art technologies, and protocols to minimize all identified risk areas in the digital asset custody chain. We know that trust and security become valuable assets in the cryptocurrency sector," comments Fernandez.

The bunker will concentrate the storage of so-called cold wallets, which are physical cryptocurrency wallets that typically hold assets that will remain inactive for extended periods. According to Prosegur, the bunker will have 24/7 monitoring from two security centers.

The expectation is that the full operation of the bunker in Brazil will begin in December 2023.

in case you need a "bunker" in São Paulo to store your wallets


#### Adoption and use of Bitcoin in Sub-Saharan Africa are the highest in the world

---

###### News translated from [Exame](https://exame.com/future-of-money/adocao-e-uso-de-bitcoin-na-africa-subsaariana-sao-os-mais-altos-do-mundo-descubra-as-razoes/)

---

While widely adopted by major economies such as the United States, Bitcoin stands out as an alternative in countries facing economic crises. This is the case in Sub-Saharan African countries, where the use and adoption of the leading cryptocurrency are the highest in the world, according to a research report released on Tuesday, September 19, by Chainalysis.

The Sub-Saharan Africa region encompasses 47 countries and corresponds to the part of the African continent located south of the Sahara Desert.

In the Global Cryptocurrency Adoption Index for the past year, recently revealed by Chainalysis, Nigeria ranked second, behind only India, in terms of cryptocurrency adoption. The growth rate is 9%, and the country is among the six in the world that have seen an increase in crypto transaction volume year over year.

Since 2016, Nigeria has experienced two major recessions fueled by political instability, the COVID-19 pandemic, and the collapse of oil prices. The Naira, which introduced its digital version, has depreciated, and interest in Bitcoin and stablecoins, value-stable cryptocurrencies that track the price of a specific asset, has increased in the country.

Other countries in the Sub-Saharan Africa region also face similar economic crises, such as Kenya and South Africa. For example, Ghana recorded an inflation rate of 29.8% in June 2022, the highest level in the past two decades.

The experts at Chainalysis point out in the study that the crisis situation may have incentivized the adoption of Bitcoin in the region. The leading cryptocurrency is considered by many as "digital gold" due to its potential as a store of value and protection against inflation.

For similar reasons, stablecoins have also attracted the attention of Sub-Saharan people. Moyo Sodipo, co-founder and CPO of the Nigerian-based cryptocurrency exchange Busha, said that Bitcoin and stablecoins are the preferred assets of their customers. The Chainalysis study also showed that the use of local crypto exchanges still surpasses that of foreign companies.

"When Busha gained popularity around 2019 and 2020, there was a huge frenzy around Bitcoin. Many people initially weren't interested in stablecoins. Now that Bitcoin has lost much of its value, there is a desire for diversification between Bitcoin and stablecoins. However, market changes are not dampening activity. People are constantly looking for opportunities to protect themselves against the devaluation of the Naira and the persistent economic decline since COVID-19," said Sodipo to Chainalysis.

Additionally, investors in the region also seek riskier opportunities to profit from cryptocurrencies. According to Sodipo, in addition to Bitcoin and stablecoins, there are also those who like to invest in "meme cryptocurrencies" that are currently popular.

"On days when the market crashes, we also see a buying frenzy. It depends on the market dynamics at that moment. When a new memecoin, like Dogecoin or Shiba [Inu], emerges, there is also a buying frenzy. There will always be someone interested in a token that seems capable of yielding the next thousands of dollars," he said.

Adoption and use of Bitcoin in Sub-Saharan Africa are the highest in the world

I'm always impressed about the overall misconception that Bitcoin itself is inherently suitable for illicit activities.

---

### "Brazilian former president Bolsonaro received R$ 600,000 from a Bitcoin pyramid scheme," says victim of Atlas Quantum

---

###### written by Vinicius Golveia, translated from [livecoins](https://livecoins.com.br/bolsonaro-doacao-atlas-quantum-piramide-de-bitcoin-cpi/)

---

In a recent testimony to the Financial Pyramid Scheme Parliamentary Inquiry Commission (CPI das Pirâmides Financeiras), Mateus Muller, a former investor of Atlas Quantum, brought forth a series of accusations against the company, including the illicit financing of electoral campaigns between 2018 and 2019.

According to Muller, the source of the information regarding the donations came directly from Carolina de Almeida Costa, former financial director of Atlas. He claims to have received messages from her confirming significant transfers, such as a donation of R$ 600,000 to Jair Messias Bolsonaro's campaign.

The payments were allegedly made through intermediaries connected to the company's management.

"What caught my attention was the donation of R$ 600,000 to Jair Messias Bolsonaro through lawyers and people connected to Atlas Quantum's management. I suggest that this Commission summons Carolina de Almeida Costa, who confirmed this information. She was the financial director of Atlas. As well as Rodrigo Marques' ex-wife, who also held a high-level position in the company, Ester Braga," said Muller.

Rodrigo Marques, co-founder of Atlas Quantum, was also mentioned in the testimony. Muller emphasizes the need to hear from Carolina Costa and Ester Braga, Rodrigo Marques' ex-wife and former high-level executive of the company, as both may have additional information about the case.

Muller, who now leads the Valquíria Group, an organization of Atlas victims seeking compensation for the scams they suffered, stated that the alleged campaign donations aimed to protect the company from investigations.

He suggested that authorities may have neglected investigations, raising suspicions of complicity.

However, Muller's testimony was challenged. Deputy Alfredo Gaspar (União-AL) demanded concrete evidence to support the accusations. As Muller is obligated to tell the truth before the CPI, any omission or falsification of information on his part could result in charges of perjury.

It is worth noting that in April 2021, Atlas victims went to Brasília to seek President Bolsonaro's help in investigating the company. As reported by Livecoins, an investor explained the entire situation of Atlas to the then President of Brazil.

"Mr. President, both I and people from São Paulo, I am part of a group of investors who invested a lifetime of capital in a company called Atlas Quantum, and the owner of that company, Rodrigo Marques, in the midst of a pandemic - I see many people calling you a genocidal (sic) - this guy (Rodrigo Marques) has the money of 40,000 families, who are now unemployed."

In a conversation with Livecoins, the investor said he received information on how to proceed with the situation, but nothing has changed since then.

Atlas Quantum, founded in 2018 in São Paulo by Rodrigo Marques dos Santos and Fabrício Spiazzi Sanfelice Cutis, gained notoriety by promoting its arbitrage robot "Quantum." The software promised automated Bitcoin transactions, guaranteeing constant profits to its investors.

However, in 2019, the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários) initiated an investigation into the company. Since then, Atlas Quantum has ceased its payments, affecting over 200,000 clients. The losses caused are estimated to exceed R$ 6 billion.

Under Muller's leadership, the Valquíria Group conducted its own investigations and claims to have found evidence of the pyramid scheme within the company. Muller states that he has gained access to a massive amount of documents from Atlas, which includes evidence of irregular practices.

The CPI meeting was expecting to hear other testimonies, including Guilherme Haddad Nazar, the general director of Binance in Brazil, and João Ricardo Rangel Mendes, president of Hotel Urbano. However, both communicated their unavailability, promising to testify soon.

With the revelations brought to light, it is expected that new investigations will be intensified, shedding light on the operations of Atlas Quantum and possible political connections.

Livecoins reached out to Jair Bolsonaro's press office but did not receive a response. The space remains open for comments.

Trade to Earn! At digitra.com, every time you buy or sell any crypto, you earn cashback in cryptocurrencies. Visit Digitra.com.


Brazilian former president received R$ 600,000 from a Bitcoin pyramid scheme

_a rare article in favour of Bitcoin written by a (former?) *fiat accountant*. overall I think it is a good introductory article for no-coiners_

---

translated from [Contábeis](https://www.contabeis.com.br/artigos/61266/bitcoin-o-ativo-final/)

---

#### Bitcoin: The Ultimate Asset

###### Bitcoin is considered the "ultimate asset" due to its decentralization, security, scarcity, and global accessibility, although it faces challenges such as volatility and varying regulations.

To understand why Bitcoin is seen as the ultimate asset, it is necessary to examine its distinct characteristics. Firstly, Bitcoin is a decentralized digital currency, meaning it is not controlled by any government or financial institution. This makes it resistant to political manipulation and uncontrolled inflation, two concerns that many have regarding traditional fiat currencies.

Furthermore, Bitcoin operates on a technology called blockchain, which is a public and immutable record of all transactions. This provides transparency and security, making fraud virtually impossible. In a world where trust in institutions is declining, blockchain offers a reliable alternative.

Another crucial characteristic of Bitcoin is its limited supply. Only 21 million Bitcoins will be mined, making it inherently deflationary. This contrasts with fiat currencies, which can be endlessly printed, leading to devaluation over time. The intrinsic scarcity of Bitcoin puts it on par with valuable assets like gold.

The global accessibility of Bitcoin is also a reason why it is considered the ultimate asset. Anyone with an internet connection can buy, store, and use Bitcoin. This is particularly significant in countries where access to traditional banking services is limited, as it allows people to participate in the global economy effectively.

Additionally, Bitcoin is highly divisible. One Bitcoin can be subdivided into smaller units known as satoshis, making the currency suitable for microtransactions. This has the potential to revolutionize how people conduct everyday financial transactions.

However, it is important to recognize that Bitcoin also faces significant challenges. Its price volatility is notorious, making it difficult to use as a stable store of value. Furthermore, regulation surrounding Bitcoin varies widely from country to country, which can create uncertainty for investors and users.

In summary, Bitcoin has the potential to be considered the ultimate asset in an increasingly digital and globalized world. Its unique characteristics such as decentralization, security, scarcity, and global accessibility make it an attractive option for investors and individuals worldwide. However, it is important to recognize that Bitcoin still faces challenges and uncertainties that need to be addressed as the technology evolves. Therefore, the conversation about Bitcoin as the ultimate asset is far from concluded, but its rise is undeniable and impactful in the global financial landscape.

Bitcoin: The Ultimate Asset

Is BTC a new means of primitive accumulation of capital?


Translated from [CryptoFácil](https://br.investing.com/news/cryptocurrency-news/blackrock-esta-manipulando-o-preco-do-bitcoin-diz-especialista-1153356)

Cryptocurrency analyst Daan de Rover, also known as Crypto Rover, alleges that asset manager BlackRock (NYSE:) is intentionally pushing Bitcoin's price down.

According to Rover, this strategy aims to secure a more favorable buying position in case the company receives approval to launch its Bitcoin spot ETF.

Rover bases his theory on the argument that if BlackRock were to receive approval for a Bitcoin spot ETF, they would need to have real Bitcoin to back the fund. In this scenario, he presents two perspectives.

"First, they may have already acquired Bitcoin months ago when prices were lower. The second possibility is that BlackRock is deliberately lowering prices to establish a more advantageous buying position for themselves," he said.

Rover leans towards the second option, arguing that if BlackRock had already purchased Bitcoin previously, they would be interested in keeping prices high. After all, an increase in prices, possibly driven by the approval of a Bitcoin ETF, would yield them more value compared to the original purchase price.

Crypto Rover, the analyst, is known for his work in helping investors understand the cryptocurrency market, providing free educational content that ranges from basic investment concepts to advanced technical analysis.

###### Pressure on Bitcoin

According to Bitcoin-focused writer Mark Helfman, institutional investors rarely buy BTC directly to avoid exposure to legal and regulatory risks. Instead, they use custody solutions to conceal their activities.

Helfman mentions "large buyers and sellers" who "find a broker for a private sale and settle the transaction in batches." These transactions take place outside of exchanges at an agreed-upon price, different from the spot price indicated on the exchange.

"As Bitcoin is pseudonymous and you can create new wallets endlessly, coupled with brokers not being required to report private trades, it's challenging to know who is moving money where unless you use forensic technology or have an insider who knows about the deal."

As a result, purchases and sales often occur without affecting the price of Bitcoin, meaning they can go unnoticed on a chart, as they only buy the amount necessary not to disrupt the price.

BlackRock Is Manipulating Bitcoin Price


according to [CoinGecko](https://moneyinvest.com.br/os-10-paises-mais-lucrativos-para-a-mineracao-de-bitcoin/), the 10 most profitable countries for Bitcoin mining are:

- Lebanon
- Iran
- Syria
- Ethiopia
- Sudan
- Libya
- Kyrgyzstan
- Angola
- Zimbabwe
- Bhutan

However, according to [Cambridge](https://www.insidermonkey.com/blog/5-countries-that-mine-the-most-bitcoin-1189051/), the 5 countries that most mine Bitcoins are:

- United States
- China
- Cazakistan
- Canada
- Russia

Is there an opportunity to the developed countries help spread Bitcoin adoption to the developing world?

nations that most mine BTC X countries with cheaper energy

TL;DR: Banco do Brasil has teamed up with Agrotoken to integrate tokenized agricultural commodities into its digital platform for agribusiness. This partnership allows farmers to use tokenized production as payment for purchases on the platform. While touted as an innovative solution, it remains to be seen how effectively this collaboration will streamline agricultural processes and benefit rural producers.

---

#### Banco do Brasil Announces Partnership with Company Tokenizing Crops

Banco do Brasil has announced a partnership with Agrotoken, a company specializing in the tokenization of agricultural commodities. The aim of this partnership is to integrate the tokens created by Agrotoken into Banco do Brasil's digital platform for agribusiness, known as "Broto." This collaboration was unveiled during the Expointer 2023 event, where rural producers gained access to partners already accepting grain payments on the platform.

According to Agrotoken, the partnership's primary focus is to provide integrated digital solutions to farmers. Through this initiative, producers will be able to purchase machinery, fertilizers, and other inputs on the Broto platform using their own tokenized production as a form of payment.

The announcement emphasized, "In addition to the speed and convenience offered by grain payments, the entire transaction takes place online, eliminating bureaucracy and simplifying the process for the producer." With this partnership, producers can access the Broto platform, select the items they wish to purchase, choose the grain payment option, and receive a quote from the seller in terms of corn or soybean bags.

Once the transaction is accepted, tokenization is carried out by the Agrotoken platform, converting the grains into tokens, and the producer is informed of the equivalence. Subsequently, the seller generates a payment link through the Agrotoken app, the producer authorizes the payment, and the transaction is completed. It's important to note that the seller does not retain the tokens, as Agrotoken converts them into cash payment.

"As an ecosystem where producers find everything they need to enhance their businesses, we are delighted to offer another resource to facilitate business transactions. Now, in addition to financing or purchasing with CPR, customers can pay with grains. All of this in a digital, fast, and highly secure manner. We look forward to seeing the fruits of this alliance," commented Michel Jorge Samaha, CEO of Broto.

Anderson Nacaxe, Country Manager of Agrotoken, emphasized that digital tokenization solutions can streamline agricultural processes, maximize commercial efficiency, and enhance producers' decision-making, thereby adding even more value to their businesses through innovation. "The partnership between rural producers, Agrotoken, and Broto reflects our commitment to driving innovation in the agricultural sector by providing modern and effective tools," he stated.


the tokenization nonsense is going too far

in short: "The opportunity to access a global currency and conduct transactions without interference from dictatorial governments continues to be one of the primary advantages of Bitcoin."

---

translated from [livecoins](https://livecoins.com.br/iniciativa-de-el-salvador-leva-curso-de-bitcoin-para-cuba-pela-primeira-vez/)

---

#### El Salvador Takes Bitcoin Course to Cuba for the First Time

An initiative by Bitcoin enthusiasts in El Salvador will export their knowledge to Cuba, teaching students how to conduct transactions with the world's largest decentralized digital currency.

In El Salvador, the Mi Primer Bitcoin initiative has been helping the local population understand the fundamentals of digital currency. Since September 2021, Bitcoin has been an official currency alongside the US Dollar in the country.

As many people in the region rely on financial remittances from relatives living abroad, Bitcoin has proven to be the best way to receive assistance from family members. This is because, in addition to the low transaction fees, sending digital coins is secure and without intermediaries.

It's worth noting that both countries are located in Central America, a region that has seen pro-Bitcoin initiatives gaining momentum since El Salvador adopted the digital currency.

More than 300,000 Salvadorans have already learned about Bitcoin with the help of Mi Primer Bitcoin. The program has also contributed to the issuance of over 7,700 certificates for in-person Bitcoin courses.

Now, with the mission of helping the Cuban population use a currency free from government interference, the company intends to teach the fundamentals of Bitcoin. All students participate in the activities for free and attend weekly meetings.

Furthermore, at the end of the course, all participants will have access to their first Bitcoin wallet and will understand how to set up their own nodes.

Cuba is one of the countries under US embargo, which has made it challenging for the local population to engage in foreign trade. Additionally, Cuban companies struggle to expand their businesses and remain subject to the control of the island's socialist government.

Major financial remittance companies have already left the country due to the embargoes. However, since 2021, some companies in Cuba have started accepting Bitcoin as payment, a currency that operates without intermediaries.

Recognizing that Bitcoin cannot be controlled, the Cuban government has even acknowledged and regulated the use of the currency in the country, although a portion of the population conducts their transactions without supervision.

The opportunity to access a global currency and conduct transactions without interference from dictatorial governments continues to be one of the primary advantages of Bitcoin.

El Salvador Takes Bitcoin Course to Cuba for the First Time

The cultural context related to the following piece of news is out of my depth, therefore I can't coment on it, but as an atheist I found it interesting and I'm always inquisitive of how technology and finance are connected to religion in so many contexts. 
In Brazil, for instance, the country I currently live in, Christianity is constantly used to "extract" money from (usually the most poor and uneducated) people, what I don't like very much.
The news:

--- 

#### Oman Invests Millions In Crypto Amid Questions of Whether It's Sharia Compliant
##### Nicholas Morgan
##### [decrypt.co](https://decrypt.co/153942/oman-crypto-investments-halal-haram-sharia-law)

The Sultanate of Oman, located on the southeastern coast of the Arabian Peninsula, is tightening its embrace of cryptocurrency after a recent round of multi-million investments this month. The West Asian nation is pursuing a strategy designed to make it a digital hub in an increasingly competitive region. 

In August, the Omani government announced close to $800 million in fresh investments in cryptocurrency mining operations. On August 23, a $300 million deal was announced with the Abu Dhabi-based Phoenix Group to develop a 150-megawatt crypto-mining farm with Green Data City—Oman's first licensed crypto-mining entity—that will go online next year. Weeks earlier, Muscat approved a $370 million farm operated by Exahertz International with plans to launch 15,000 more machines by October, according to a local news report. 

The investments mark a "major milestone" in Oman's work to "help accelerate the growth" of its digital economy, Said Hamoud al-Maawali, Oman's Minister of Transport, Communications and Information Technology, said in the announcement.

Oman’s recent forays into crypto-mining comes at a time when the broader region is warming to cryptocurrency. It also comes after much deliberation around a major question across the Islamic world: is cryptocurrency halal or haram? 

Under Islamic law, or sharia, there are certain principles around finance that determine whether something is morally permissible (halal) or not (haram). For some Islamic scholars, the often speculative nature of cryptocurrency makes it impermissible, a view that fueled fatwas (Islamic legal edicts) issued by prominent Islamic groups in Turkey, Egypt and Indonesia, the world’s largest Muslim country. 

However, others hold that cryptocurrencies can be deemed halal under Islamic law because there is no interest (riba) attached to owning tokens like Bitcoin, which would be frowned on under sharia. It is also argued that the widespread acceptance of crypto as a currency may also support the case that it is halal. 

Even as the debate among Islamic scholars continues, Muslim nations have been among the biggest adopters of cryptocurrency in recent years. 

According to an October 2022 report by Chainalysis, the Muslim-majority Middle East and North Africa were the fastest growing crypto markets that year. In Chainalysis’s Crypto Adoption Index, four of the top twenty adopters were Muslim-majority countries, and they were joined by states with large Muslim populations like India and Nigeria.

The regulatory landscape across the Muslim-world remains something of a hodgepodge of different rules, however. On the one hand, countries like the United Arab Emirates have been leaders in establishing themselves as attractive hubs for crypto entrepreneurs worldwide. On the other hand, there are countries like Turkey with rules allowing cryptocurrency trading, but bans using crypto for payments and from being used by financial intermediaries.


BTC advances in Muslim nations but faces debate over obedience with Islamic law

too much centrilization on AWS and Google to my taste...
the news was translated from [investing.com](https://br.investing.com/news/cryptocurrency-news/google-cloud-firma-parceria-com-el-salvador-mineracao-de-bitcoin-em-nuvem-1151407):

---

### Google Cloud Partners with El Salvador: Cloud Bitcoin Mining?

Google Cloud has announced that it has signed a multi-year, seven-year agreement with the government of El Salvador. It is well known that the Latin American country is very friendly to Bitcoin and even has the cryptocurrency as legal tender, and invests in mining activities.

"Google Cloud plans to establish a legal entity and a Google Cloud office in the Republic of El Salvador. Thus, it will launch an instance of Google Distributed Cloud (GDC) for the country. This will bring the infrastructure closer to where El Salvador's data is generated, and we will create a Cloud Center of Excellence to provide technical guidance to companies and organizations on how to achieve the greatest benefits from cloud technology and innovations," the company announced.

During this strategic 7-year partnership, while awaiting legislative approval, Google Cloud and the government of El Salvador say they will work together. The goal is to put cloud technologies at the center of the country's modernization efforts in three distinct areas: Digital Government, Health, and Education.

"El Salvador is moving forward. We believe that technology and foreign investment are key to development. We are rapidly becoming a center of innovation. This innovative alliance with Google Cloud opens unprecedented paths for innovation, economic growth, and improved public services. Google's global experience combined with El Salvador's audacity will redefine the technological landscape," said Nayib Bukele, President of the Republic of El Salvador.

"We look forward to working side by side with El Salvador to promote technological development in Central America," said Google Cloud CEO Thomas Kurian. "Access to cloud computing has expanded dramatically in sectors and regions around the world, enabling both small businesses and the public sector to use the same applications and services as more mature markets. Cloud computing can truly transform Latin America, and we are excited to explore the full potential of these possibilities in El Salvador, benefiting its citizens and driving economic development."

###### Cloud Bitcoin Mining?

Nothing has been announced regarding Bitcoin mining. However, there is technological and even legal possibility for it. It is worth noting that there is a cost to cloud mining 100%. Bitcoin mining requires a significant amount of computational power. However, using Google Cloud to manage and optimize existing mining operations may be more cost-effective.

Google Distributed Cloud (GDC): GDC can be beneficial for distributing and managing mining operations in different locations, especially if El Salvador plans to expand its mining operations to multiple sites. However, renting this capacity from cloud computing providers can be expensive and may not be profitable, especially when Bitcoin prices are low.

The Google Cloud Terms of Service do not explicitly mention a ban on Bitcoin mining. Some cloud computing providers prohibit cryptocurrency mining in their terms of service due to resource-intensive usage and the potential for abuse.

Additionally, miners who opt for cloud mining face additional security risks as hackers can infiltrate the provider and cause losses. However, by combining cloud computing with ASIC machines, which are specific machines for Bitcoin mining, it would be possible to achieve efficient results. In this sense, instead of setting up and physically maintaining ASIC machines at their location, they could be hosted in a specialized data center.

These data centers can offer better cooling conditions, security, and often cheaper electricity. In this sense, access to and management of ASICs is remote, in the cloud, although the hardware is still dedicated and physical.

###### Data Collection and Management

Furthermore, using cloud computing solutions, you can create centralized management systems to monitor and control ASICs. This can include performance monitoring, alerts, firmware updates, and other administrative tasks.

Moreover, cloud computing can be used to analyze mining data. For example, collecting data on the efficiency of your machines, the current price of Bitcoin, and electricity costs. Using this information to optimize your mining operation.

Another benefit could be scalability. When deciding to expand the mining operation, cloud computing can facilitate the addition of more ASICs to the set. Thus, using cloud solutions to deploy configurations and updates to multiple machines simultaneously.

Finally, integration with mining pools could be another advantage. Cloud computing can facilitate the integration and management of connections with different pools.

Google Cloud Partners with El Salvador: Cloud Bitcoin Mining?


###### Translated from [Exame](https://exame.com/future-of-money/adocao-bitcoin-argentina-supera-el-salvador-ark-invest/)

#### Bitcoin adoption in Argentina surpasses that of El Salvador, says Ark Invest 

Argentina is currently facing a strong economic crisis, characterized by soaring inflation and a significant devaluation of its currency, the peso. According to Ark Invest, this situation is causing Bitcoin adoption in the country to outpace that of El Salvador, which has adopted the cryptocurrency as legal tender.

Although no data were presented to support this claim, analyst David Puell mentioned in a conversation on Tuesday, the 29th, that he had with Angela Dalton, CEO of Signum Growth Capital, who recently traveled to El Salvador. She noted that despite state support, the use of the cryptocurrency in the country has not advanced significantly.

"Knowledge about Bitcoin is high, but usage is still low. There's a general sense of pride among the Salvadoran population for the country's early adoption of a new technology," stated Dalton. In her view, the asset's usage is still concentrated in tourist destinations.

Puell highlighted that the low adoption of Bitcoin in El Salvador makes sense when considering the fact that the US dollar has also been legal tender in El Salvador since 2001. Therefore, the American currency "protected purchasing power from the inflation and devaluations that have devastated other countries in the region."

"In contrast, the price of Bitcoin has been quite volatile amid increasing challenges as it strives to evolve into a monetary system with greater liquidity and global adoption," evaluated the analyst from Ark Invest. Consequently, the cryptocurrency has a smaller adoption space in El Salvador.

###### Bitcoin in Argentina

On the other hand, Puell emphasized that the scenario in Argentina is more favorable for digital assets. Inflation in the country reached a staggering 147% this year, while the peso experienced significant devaluation. As a result, the population is more open to monetary alternatives.

However, experts have told EXAME that Bitcoin's adoption among the Argentine population is not as extensive as that of stablecoins. These cryptocurrencies are pegged to other assets, usually the dollar, and have emerged as an alternative means of exposure to the US currency.

Puell also noted that the lead of the candidate Javier Milei in the primaries of the Argentine presidential elections caused the price of Bitcoin to surge in the country. In his view, a victory for the far-right candidate could benefit both the cryptocurrency and the purchasing power of the Argentine people.

Bitcoin adoption in Argentina surpasses that of El Salvador

##### Comando Vermelho Takes a Blow and Calls for the Head of the 'Bitcoin Dandy'

---

###### Written by Carlos Carone & Mirelle Pinheiro, translated from [Metrópoles](https://www.metropoles.com/distrito-federal/na-mira/comando-vermelho-leva-golpe-e-pede-cabeca-de-engomadinho-do-bitcoin)

---

After the trail of million-dollar losses left by the financial platform Bybot, hundreds of investors who suffered substantial losses have begun to take action to locate the company's key executive, Gustavo de Macedo Diniz, known as the "Bitcoin Dandy." Additionally, two members of the team are being sought by the criminal faction Comando Vermelho (Red Command), a Rio de Janeiro-based group, which reportedly invested in purchasing virtual currencies with the aim of laundering drug trafficking money.

Images of two operators from Bybot who directly managed customer wallets while the platform was still active have started to circulate in WhatsApp groups. Allegedly, a message from the Comando Vermelho states that a reward of R$ 15,000 will be given for any information leading to the whereabouts of these two traders. In one of the notices, the faction emphasizes that the employee of the company should not be harmed. "Do not kill."

Increasingly, major criminal organizations are utilizing the realm of digital currencies to launder funds earned through drug trafficking. The amount of cryptocurrency involved in money laundering activities has increased by 68% when comparing 2022 to 2021, reaching a total of $23.8 billion. This data was released earlier this year by Chainalysis, a crypto market data analysis company.

**The Scam**

A staggering downfall nearing R$ 70 million has sent shockwaves through the virtual currency financial market. The managers of the financial platform Bybot, which controlled thousands of crypto assets from hundreds of investors across Brazil, the United States, and Europe, have simply disappeared. Alongside them, all customer funds have also vanished. Many police reports have been filed in São Paulo, but victims are scattered across various states, including the Federal District.

The main executive of Bybot, Gustavo de Macedo Diniz, 27 years old, erased all his social media accounts, shut down communication channels, and halted withdrawals from the platform. Since the past Friday (August 25th), none of the investors have been able to withdraw the amounts they had deposited in their wallets. Once active on social media and frequently hosting live broadcasts, Gustavo, who came to be known as the "Bitcoin Dandy," is said to have fled the country in the direction of Asia.

With sharp persuasion, exuding charm and conveying a sense of security, the platform's administrator used to record videos for followers, demonstrating that the business was "safe" and fully legitimized. Bybot primarily operated through the practice of cryptocurrency arbitrage. This process is well-known in the stock market. When an investor chooses to operate this way, they trade assets at low prices and offer them on platforms that pay higher prices. The difference remains with the investor.


**Swift Escape**

Gustavo Diniz was globe-trotting, reaping the benefits of the financial success brought about by the platform. Originally from Mogi das Cruzes, São Paulo, the trader distanced himself from his family—who lead a simple life in the interior of São Paulo—to live a life of opulence. Prior to erasing his social media, the Bybot manager would post photos from luxury resorts, ski resorts, or idyllic beaches.

An unidentified entrepreneur from the Federal District who lost $15,000 stated that the scam occurred quite rapidly. "We don't really know what happened. We were all awaiting the supposed maintenance, and suddenly, Gustavo took the site down, deleted his Instagram profile, and vanished from Telegram," he said.

As soon as Bybot went offline, Gustavo Diniz was never seen again, neither on social media nor in person. He reportedly had an operational branch of the platform in Thailand. "The suspicion of many people who suffered heavy losses and are on his trail is that the scammer's destination may have been Bangkok," said the entrepreneur.

Things can get ugly when the scam harm a large criminal faction...

# Exclusive: Tether Could Set Up Mega Bitcoin Mining Farm Using Brazilian Energy

*Written by Cassio Gusson, translated from [Cointelegraph Brasil](https://br.cointelegraph.com/news/tether-could-install-mega-bitcoin-mining-farm-with-energy-from-brazil)*


The **Tether**, issuer of the largest stablecoin in the cryptocurrency market, may soon utilize energy from **Brazil** in its mega **Bitcoin mining farm**. According to information shared with *Cointelegraph Brazil*, the global giant is planning to install its BTC farm in **Paraguay** to tap into the hydroelectric energy from **Itaipu**.

According to the source, **Tether** has always had plans to commence **Bitcoin mining operations**; however, regulatory issues and uncertainty about regulatory matters reportedly delayed the company's plans.

Nonetheless, during the bull market of **2020-21**, the company's plans were revived, coinciding with the entrance of Brazilian entrepreneur **Rocelo Lopes** into the **Tether** group, which also involves **Bitfinex**. Lopes, who previously operated a BTC mining farm in Paraguay and was the first to anticipate the arrival of the Chinese in the region back in **2019**.

Lopes is said to have aided Tether in establishing connections with authorities and ANDE, the energy company of **Paraguay**. Furthermore, Lopes is believed to have assisted with infrastructure matters such as securing land in the region and utilizing containers to facilitate the cooling process of the facilities, given the dry and hot climate of the area.

### Tether's Mining Farm Could Be Installed in Paraguay

According to the investigation by **Cointelegraph**, the entire infrastructure is currently being optimized to accommodate all the equipment, with tests using **ASICs** having already been conducted and yielding favorable results. The full operation is expected to commence in **September** of this year.

When contacted by **Cointelegraph**, **Tether** did not confirm the exact location of the equipment installation and merely stated that it would be in **Latin America** (excluding countries like **El Salvador** in Central America).

>"The site is progressing well, the entire team is super excited and working tirelessly to commence operations in the coming weeks," declared **Tether's CTO, Paolo Ardoino**.

While not confirming Paraguay as the site of the operation, he emphasized that the company is working on a mining software called **Moria**, which provides data analysis regarding energy production at Bitcoin mining locations, primarily focusing on renewable energy sources, such as the energy generated by **Itaipu** (a binational power plant that supplies both Brazil and Paraguay).

>"If the energy used by the mine is wind or solar, there are optimization parameters, such as the predicted wind speed for a specific day or a specific time of day, which can be used to speed up some of the miners and increase production," he said.

**Paraguay** has become the primary **Bitcoin mining** hub in South America. In **July** of this year, the Canadian company **Bitfarms** announced the installation of a farm in the regions of **Iguazú** and **Villarrica**. The company is one of the most significant players in the sector, with a hashrate exceeding **5 EH/s**.

The American company **Sazmining** also announced expansion into **Paraguay**. The company's farm will be located near the **Itaipu Dam**. The project's roadmap envisions the farm beginning mining operations in **September**, with an initial capacity of **5 MW**.

### Brazil Aims to Review Itaipu Agreement

The Brazilian government aims to review the energy supply agreement of the **Itaipu hydroelectric plant**, which was built through a binational agreement between Brazil and Paraguay in the **Foz do Iguaçu** region. The agreement was signed in **1973** and stipulates a revision of terms after **50 years**.

In the upcoming revision to be discussed with **Paraguay** until **September**, the Brazilian government intends to balance the terms to better serve both countries, potentially leading to a reduction in the cost of energy supplied to **Brazil**.

According to the Minister of Mines and Energy, **Alexandre Silveira**, there are already scheduled meetings between Brazilian President **Luiz Inácio Lula da Silva** (PT) and Paraguayan President **Santiago Penã** to discuss the matter.

>"The goal is to have an agreement that serves the interests of both countries, and this is achieved through extensive debate. The visit of the Paraguayan president demonstrates that Brazil is once again engaging with the world," the minister stated.

The binational **Itaipu** plant is strategic for both Brazil and Paraguay, as it provides **8.7%** of the energy consumed in Brazil and **86.4%** in Paraguay, with **20 generating units** and **14,000 MW** of installed capacity.

In the event of a revised agreement, it remains uncertain how this might impact **Bitcoin miners** in the region, as the focus of the revision lies in energy tariffs and a potential increase in supply to **Brazil**.


Tether Could Set Up Mega Bitcoin Mining Farm Using Brazilian Energy

Just one more exemple of how Bitcoin "name" is used for scams and the press has no idea of how to help people to avoid the confusion.

p.s.: "engomadinho" stands for something like "poncy"

---

##### "Engomadinho of Bitcoin": The Accused of Vanishing with R$ 70 Million

Written by Yuri Ferreira, translated from [Revista Forum](https://revistaforum.com.br/economia/2023/8/29/engomadinho-do-bitcoin-quem-acusado-de-sumir-com-r-70-milhes-143149.html)

---

Self-proclaimed entrepreneur Gustavo Diniz, who claimed to be the CEO of the company Bybot, is being accused of disappearing with R$ 70 million worth of cryptocurrency assets belonging to his clients. He became known as the "Engomadinho of Bitcoin".

Bybot claimed to buy and sell properties in Bitcoin and other cryptocurrencies, and through the profits from these sales, it promised to remunerate investors with returns between 1% and 2% of their invested amount "per day" - according to a video by Gustavo Diniz himself.

Several investors who put their money into this venture are now grappling with the disappearance of a portion of their assets, invested in the "Engomadinho's" company.

According to suspicions, Gustavo, who flaunted a luxurious lifestyle on social media, allegedly stole the cryptocurrencies from his victims and fled to a location outside of Brazil to evade legal consequences.

The company operated until a certain period, when it claimed to be undergoing "maintenance". "We don't truly know what happened. We were all waiting for the supposed maintenance, and suddenly, Gustavo took down the website, deleted his Instagram profile, and vanished from Telegram," said a businessman who invested $15,000 in the situation, speaking to the Metrópoles website.

###### How to Protect Yourself from Bitcoin Scams

This case resembles various other instances of financial pyramid schemes involving bitcoins. AirBitClub, G.A.S, FTX: the cases are countless, and the company names are often forgettable, but the idea is always the same: invest in something you don't understand and make a lot of money very quickly, effortlessly.

After luring investors with promises of millionaire profits, the company returns a portion of the money to investors as profit and disappears with the clients' funds.

Bitcoin scams almost always operate like this. Additionally, a minority uses actual bitcoins, and the majority neither buys nor sells the cryptocurrencies.

You invite people to an investment club. You reward the initial investors with the arrival of new ones, who are then rewarded by the third, fourth, and so on, until the system collapses. When the system collapses, you disappear.

But how can you identify whether a company is a scam or not? It's challenging, but we can help you identify some signals:

- The company lacks positive references and has previously been accused of being a pyramid scheme.
- Its leaders lack specified certification to operate in the financial market.
- The leadership promotes returns much higher than the interest rate (more than 1% per month).
- The leadership uses technically incomprehensible or extremely vague language to describe the operation.

In addition to these signals, it's important to note: if you don't understand anything about Bitcoin, don't invest in bitcoins. Study the subject thoroughly, understand how the blockchain works before putting your hard-earned money into a legitimate operator. Nonetheless, due to its unregulated nature, cryptocurrencies always carry some risk of greater loss than that of the famous bank Fixed Deposit (CDB) or the well-known stock market.

"Engomadinho of Bitcoin": The Accused of Vanishing with R$ 70 Million

##### Pioneering Adoption: Brazilian Inn Embraces Cryptocurrency Transactions

---

###### Written by Paulo Marques, Translated from [ilheus.net](https://www.ilheus.net/2023/08/aceita-bitcoin-pousada-e-pioneira-em-transacoes-com-criptomoedas-em-itacare.html).

---

In the heart of Brazil's southern coastal city lies an innovative venture that is looking towards the future. The use of digital currency is becoming a reality for a hospitality establishment in this region, making it one of the few in the state to accept payments through cryptocurrencies. The inn, known as "A Casa de Gabriella," is located in the picturesque town of Itacaré, just a stone's throw away from pristine beaches like Concha and Resende. This unique initiative is drawing hundreds of tourists annually, not only in search of sun and sea, but also the financial freedom that comes with it.

The key distinguishing factor of this accommodation lies in its technological innovation. Offering fourteen luxurious suites, a private pool, and wheelchair accessibility, the inn is operated by proprietors Gabriella and Max Ziegler. They see cryptocurrencies as a means to provide enhanced autonomy to their patrons, offering discounts of up to 20% for reservations paid with virtual currency.

"The adoption of cryptocurrencies is indeed another step toward financial freedom and democracy. This is why we have implemented an AI algorithm system at A Casa de Gabriella, which analyzes data such as occupancy rates, average daily rates, RevPar, and competitive rates, providing real-time indications for the best prices to offer. Payment with crypto is the logical progression to access the discounts that this digital market provides. Recently, the inn was certified with the title of Binance Merchant, which means we are now able to accept payments in up to 50 types of virtual currencies," they explained.

While Brazil ranks 7th globally in cryptocurrency adoption and investment (Source: InfoMoney), the number of physical spaces accepting this form of payment is still relatively low. According to a 2021 survey by Crypto Literacy, approximately a thousand establishments accept cryptocurrency payments. However, this is expected to grow significantly in the near future, especially since Brazil's legal framework for cryptocurrencies came into effect in June of this year.

Situated at the prime location of Rua Hibisco, s/n – Conchas do Mar, A Casa de Gabriella is among the top-rated accommodations in Itacaré. The establishment offers a sophisticated infrastructure including four categories of suites, a spacious pool with accessibility features, solar energy utilization, and contemporary design. Reservations can be made via the website www.acasadegabriella.com.br or through WhatsApp at (73) 9 9828-7659.

##### About A Casa de Gabriella:

Founded in December 2018 by owners Gabriella and Max Ziegler, A Casa de Gabriella is situated in the idyllic town of Itacaré. The couple, with roots in Jequié, Brazil, and Rome, Italy, left their life in São Paulo to establish this venture in the southern Bahia region. What initially served as their summer residence transformed into one of the most charming lodgings in the area.

The inn is located just a short distance from beaches and the city center, enveloped by lush greenery. Designed to provide tranquility and comfort, the spaces were conceived by designers André Lima and Karina Vargas from Estúdio Glória, hosts of the program "Admirável Móvel Novo" on GNT. The decor pays homage to local history and culture while maintaining a connection with contemporary aesthetics.

With fourteen suites, categorized as Standard (5), Roof (4), Deluxe (4), and Master (1) – the latter featuring a private pool and balcony – the inn's common areas boast an expansive pool with wheelchair accessibility, a hot tub, a bar serving a diverse array of beverages, lounge spaces, kitchen facilities, restrooms, and an office. The inn also collaborates with authorized agencies to offer the best regional tours.

Catering to a specific audience in search of serenity, comfort, and contemplation, A Casa de Gabriella welcomes children starting from 12 years of age and does not accommodate pets. It stands as the only establishment in Itacaré that accepts cryptocurrency, extending a 30% discount for reservations made with digital currency payments.

Located in the tourist hub of Costa do Cacau, Itacaré is known as the ultimate Bahian destination, boasting stunning beaches, waterfalls, trails, and a vibrant culinary scene. The city is approximately 70 km away from Ilhéus Airport (accessible via the BA 001 highway) and around 270 km from Salvador.


Pioneering Adoption: Brazilian Inn Embraces Cryptocurrency Transactions

**Mastercard and Binance to Terminate Cryptocurrency Card Partnership**

---

Original in Portuguese [Published](https://investnews.com.br/criptonews/mastercard-e-binance-encerrarao-parceria-com-cartoes-de-criptomoedas/) 15 hours ago on August 24, 2023

---

Mastercard and Binance will terminate their four cryptocurrency card programs in Argentina, Brazil, Colombia, and Bahrain starting from September 22, announced a spokesperson from the payment processor on Thursday (24).

Binance's cards allow users to make payments in traditional currencies, funded by their holdings of cryptocurrencies on the exchange.

Mastercard's website also lists partnerships with other cryptocurrency platforms, including Gemini. The decision will not affect any of the company's other cryptocurrency card programs, the spokesperson stated.

Binance is facing legal and regulatory challenges. In June, U.S. regulators sued the company and its CEO, Changpeng Zhao, for allegedly operating a "network of fraud." The company stated it will defend itself "vigorously."

Mastercard's Chief of Cryptocurrencies and Blockchain, Raj Dhamodharan, told Reuters in April that the company is seeking more partnerships with crypto asset companies. He declined to comment specifically on Binance but mentioned that all card programs "undergo thorough due diligence" and are continuously monitored.

A spokesperson for Mastercard declined to comment on why the partnership with Binance was ending or who made the decision.

Binance did not immediately respond to an email request for comment. The company's customer support account on the X platform, formerly known as Twitter, stated on Thursday that the Binance Card "will no longer be available for users in Latin America and the Middle East."

Binance will terminate crypto card programs in Argentina, Brazil, Colombia...

**TL;DR:**

##### Geopolitical Shifts, Reserve Currency Challenges, and the Resurgence of Gold Amidst Global Uncertainties
###### Amidst the intricate web of geopolitical tensions, technological rivalry, and economic shifts, seasoned analyst Felipe Miranda navigates the current US-China relationship, drawing parallels to the Cold War era. Exploring ideological conflicts, technological races, and the potential rise of the yuan as a global reserve currency, Miranda delves into the challenges of an evolving world order. His examination extends to the delicate balance between demand and supply in financial markets, considering the US Federal Reserve's impact on interest rates. As traditional safe havens resurge in significance and the role of Bitcoin evolves from "digital gold" to a more risk-oriented asset, Miranda's insights illuminate the intricate interplay shaping our global financial landscape. Against the backdrop of swelling public debt and uncertain fiscal policies, Miranda prompts us to ponder the future of economies, from heightened taxes to the specter of inflation.

---

**translatad from [seu dinheiro](https://www.seudinheiro.com/2023/colunistas/felipe-miranda-o-ouro-e-o-novo-bitcoin-ccgg/):**

It's that old saying: "if it looks like a duck, swims like a duck, and quacks like a duck, then it's probably a duck." The (more than) historian Niall Ferguson has used this ancient anecdote to draw a parallel between the current situation between the US and China and the classic Cold War.

Just as in that moment, there's a clear ideological dispute between the vision of liberal democracies (Rule of Law, contract respect, representativeness, discourse in favor of human rights, etc.) and the Marxist-Leninist tradition, which is less individualistic and more collectivist.

There's also a technological confrontation, especially regarding 5G, chips, artificial intelligence, and hypersonic missiles, akin to the space race of the past.

Obviously, we also identify strictly economic elements in the dispute, with two more prominent points:

1. The projection of the yuan as a potential alternative to the international reserve and its full convertibility; and
2. The idea that "semiconductors are the new oil."

Finally, we come to geopolitics, with the debate over a potential China invasion of Taiwan being the focal point. If Russia's aggression against Ukraine found parallels with the Korean War, Taiwan would have an analogy in Vietnam, potentially leading to something similar to a new missile crisis.

We don't want to imagine the consequences of a hot war between the US and China. In fact, we probably don't need to, because we likely wouldn't be here anymore to provide investment recommendations. But something fundamental is already happening in light of this new geopolitical arrangement.

**An Alternative to the Dollar**

As there are no fools in soccer anymore, China observes what happened with Russia. When those dollar reserves were frozen, if you're in a conflict, even a tacit one, with the US and you represent their main antagonist, it seems rational not to keep your reserves in Treasuries. If the dollar can be a geopolitical weapon, we need an alternative...

Thus, an important marginal buyer is lost. And this happens during a time of global liquidity tightening, with the Fed needing to shrink its balance sheet and Janet Yellen having to conduct successive massive debt auctions in the US.

This is when the elementary mechanism of price functioning comes into play. If there's a large supply and demand falters, the price falls—and market interest rates rise!

Add to this the distancing from the idea of a recession in the US in 2023—Atlanta's Fed, in fact, projects quarterly annualized growth of over 5%! This is a significant figure for those who were talking about contraction earlier this year just a few months ago...

Consider also that Japan is loosening its yield curve management, allowing for greater long-term interest rate increases—meaning they're also competing with international capital flow, given the marginal increase in attractiveness of Japanese bonds.

And finally, remember the lack of spending control and the upward trajectory of public debt in developed countries—all of them also need a new fiscal framework to call their own.

The idea finds its most concrete symbolism in the recent deterioration of the American sovereign rating outlook. As I wrote during the concern over the "debt ceiling," the discussion shouldn't have been centered on parliamentary voting about short-term US debt ceiling increases, but rather on how to structurally make the debt-to-GDP ratio more convergent.

Otherwise, what we recently witnessed in the UK, whose dynamics became more similar to those of emerging markets, could affect all other developed countries.

This is the backdrop behind the rise in yields (market interest rates) of debt securities in August, with widespread consequences for international capital flow and pricing of risk assets—it all begins with the rate on US bonds, considered risk-free.

If it goes up, all other expected returns need to rise as well, bringing current prices down.

The current dynamic represents a fundamentally different force from what was observed in the early 2000s, dubbed by Ben Bernanke as the "Global Savings Glut," a kind of global savings excess that pushed interest rates down.

In my interpretation, it was the International Economics version of Alvin Hansen's secular stagnation thesis, resurrected by Larry Summers for modern times. China exported heavily, took those dollars, and bought Treasuries like crazy, pushing interest rates down.

The new equilibrium requires higher interest rates and, even though the dollar shouldn't necessarily lose its status as the main global store of value, there's a trend of reduced relative participation. The problem is that viable alternatives are lacking.

If the origin of the problem is geopolitics, China also couldn't rely on euro reserves—ultimately, it would end up with NATO. Japan is also not necessarily a historically reliable friend of China.

Bitcoin, on the other hand, after behaving like "digital gold" at the start of the year, regained its performance more akin to a risk asset in this August crisis. We're back to the old idea that the available "safe haven" is indeed gold, especially for geopolitical events.

We're entering a vicious cycle where countries adopt loose fiscal policies, pushing the problem forward and aligning with cheap populism. This is happening at a time when there aren't the same buyers as before for these debt securities that will finance public spending.

We might ignore the problem and sweep it under the rug. Sooner or later, however, there will be no escaping the elementary arithmetic of public accounts.

Mathematics imposes some of the solutions: a drastic increase in taxes, a abrupt reduction in public spending, more inflation, default, or a large confiscation. Down the road, are we all heading towards a global Collor Plan? While we ponder the answer, I'm off to buy my gold bar.

Is Gold The New Bitcoin?

such a lost opportunity to use bitcoin...

----

**Brazil's Proposal for BRICS Currency and Geopolitical Reforms**

---

Translated and summirized from [UOL](https://noticias.uol.com.br/colunas/jamil-chade/2023/08/21/brasil-vai-propor-embriao-de-moeda-dos-brics-em-cupula.htm), written by Jamil Chade.

---

Brazil is set to propose the creation of an embryonic currency within the BRICS framework as it takes over the BRICS presidency in 2025. The objective is to explore alternatives to the dominant role of the US dollar in international trade and finance. The move is not intended to directly challenge the dollar's dominance but to consider new options in a changing global landscape. This initiative aligns with the broader BRICS agenda of reducing dependency on the dollar, potentially reshaping the geopolitical balance.

Paulo Nogueira Batista Jr., a Brazilian economist, highlighted the US's use of the dollar as a weapon in imposing sanctions on countries like Venezuela, Iran, Afghanistan, and Russia. A potential currency, tentatively named "R5," could consist of a basket of the five member countries' currencies. This currency could serve as a unit of account and replace the dollar for internal financial mechanisms within the BRICS bloc. However, it would not replace the individual national currencies of the member states.

Alongside currency discussions, BRICS leaders are addressing broader geopolitical changes. The summit emphasizes the outdated nature of the current international system and underscores the need for reforms. Among the topics being discussed are a common stance on the reform of international organizations and the expansion of the BRICS alliance. The expansion, while seen as a way to enhance influence, also raises concerns about potential power imbalances and the risk of overshadowing national interests.

The retreat aims to reorient the geopolitical map by demonstrating the emerging power and relevance of BRICS. As Brazil takes the lead, it introduces currency discussions that align with its objectives of increasing its global influence while advocating for alternative options in the international monetary system. The summit marks a significant step toward a more multipolar world order.