Bitcoin News Items This Week
HS Bitcoin Classes, Bitcoin as a Lifeline, Central Banker Says "Bitcoin is Finished.
Here’s a recap of the top Bitcoin news stories of this week:
High School Bitcoin Classes in Italy
You haven’t seen this in the United States.
“Bit Generation” is a project with the goal of bringing Bitcoin education to Italian high schools. For the first time, Italian students are being offered 30 hours of education on topics such as economics, financial inclusion, computer science and game theory.
Lessons involving Bitcoin include the basics of a seed phrase, Bitcoin wallets, and running a full Bitcoin node. Students are also taught the basics of Bitcoin mining, using a real Antminer S9 ASIC. I’ve not heard of that happening in the US.
Some of the more prominent Italian Bitcoin experts have spoken to the students, and a documentary is in the works, chronicling the efforts to educate Italian teens on Bitcoin.
The project was initiated by the group BitPolito, a contingent of students from Politecnico di Torino University, a group dedicated to educating Italian students about Bitcoin.
Great stuff.
Bitcoin a Lifeline For African Refugees
Bitcoin adoption in Africa is growing faster than any other region in the world. Contrary to common beliefs, Bitcoin is not just an investment for wealthy Westerners trying to get rich.
For refugees from war-torn nations in Africa, Bitcoin has become, literally, a lifeline. For citizens of Eritrea, who have been fleeing the nation for years, Bitcoin has aided their survival. Over 5,000 Eritreans flee the country each month. Many are trying to get to Sudan, Ethiopia, or even Europe. While many refugees are kidnapped by human traffickers, some have been able to pay their ransom using Bitcoin. That’s not a Bitcoin use case you often hear about.
Transactions on the government banking system are monitored, and receiving and sending money can put their lives in danger. Meros Estafanos, the founder of the International Commission on Eritrean Refugees, described Bitcoin as a “golden solution” for Eritrean refugees. There is finally a way for Eritreans abroad to send money to their relatives to help them escape, and ultimately, survive.
Bitcoin is once again showing its potential to be the number one technology, worldwide, for sending international remittances. Bitcoin fixes things, again.
Bank of International Settlements Chair: Technology Doesn’t Make Sound Money
In the “battle” between fiat currencies and cryptocurrencies, one prominent banker has proclaimed that “Fiat has won.”
“Investors must be cognizant that Bitcoin may well break down altogether,” said Agustin Carstens, the head of the Bank for International Settlements. Carstens, citing the market cap declines of crypto in the last year, stated that “A technology doesn’t make for trusted money.”
Those ideas, from a central banker, should come as no surprise to anyone. His career is dedicated to preserving the fiat banking system, and yes, the existence of fiat currency. Currency that can be printed at will by governments.
Not exactly “sound money,” in my opinion.
Human Rights Foundation Donates Bitcoin to Global Projects
The Human Rights Foundation this week announced the donation of 2 billion satoshis, or about $475,000, focusing on censor-resistant communication and Bitcoin education in authoritarian regimes.
Some of the causes being supported by HRF include the African Bitcoin Conference, Bitcoin For Fairness, Bitcoin training firm Qala, and Emmanuel Bronshtein for his contributions to Wallet Scrutiny
According to the organization’s website, “Since early 2020, HRF has allocated more than $2.2 million in BTC and USD to more than 70 developers, educators, and open-source initiatives across the world. HRF continues to raise support for the Bitcoin Development Fund, with the next round of gifts to be announced in May 2023.”
The Human Rights Foundation was founded in 2005 by Thor Halvorssen Mendoza, a Venezuelan film producer and human rights advocate. The current chairman is Russian chess grandmaster Garry Kasparov. (Per Wikipedia)
Bitcoin fixing things. Again.
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Issue No. 97, February 24, 2023
Rick Mulvey is a CPA, crypto consultant, and frequent contributor to Bitcoin Magazine. He writes about all things Bitcoin, and yells at the Yankees and Giants. He also runs marathons and makes wine, neither professionally.