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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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.

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Why Everything That Should Hurt Bitcoin Only Makes It Stronger

AttackBitcoin

Original post by: Tomer Strolight

Bitcoin loves being attacked. Bitcoin especially likes it when something tries to kill it. And it’s also very fond of people trying to ban it or trying to replace it with something “better”. When it comes to attacks on Bitcoin, the question isn’t “what’s going to kill Bitcoin?”; it’s “what’s going to make Bitcoin bigger, stronger, better, and more valuable?”.

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Bitcoin Sees the Light of Day in a National World’s First

Bitcoin Eruption

El Salvador has been a country suffering from civil war, economic ruin and high organized crime & murder rates for much of its modern life. Yet the 39 yr old El Salvadorian President, Nayib Bukele, who enjoys a super-majority of his party in parliament, in a world’s first, enacted law making Bitcoin legal tender in his nation.

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.

It doesn’t stop with making Bitcoin legal tender. Bukele asked the state owned geothermal energy firm, LaGeo, to devise plans for offering Bitcoin mining facilities to Bitcoin miners who want to use the nation’s geothermal energy resources to run their mining farms. According to journalist Max Keiser, to be able to attract these miners, El Salvador is also offering permanent residence for Bitcoiners who are willing to dedicate BTC 3.

This, first-time, comprehensive all-round adoption of Bitcoin by a whole nation is the light Bitcoiners have been waiting to see in a long time, and just as the first domino falls, we also envision many other nations eventually following in El Salvador’s path.

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.

Dark blue band: Multiply and divide the price by 2. Light blue band: Multiply and divide the price by 5.

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.

Seven Surprising Facts About Bitcoin Pizza Day

Original Post by: Pete Rizzo

The Bitcoin Pizza Day story is one of the technology’s most historic tales, but even if you know the Bitcoin pizza price, these facts might surprise you.

May 22 is now forever known as Bitcoin Pizza Day, the holiday marking the date in 2010 when the first real-world good was bought with the first decentralized digital money. 

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