It was another week at the speed of crypto as episode 88 of The Wild West Crypto Show got underway. Broadcast from Kerrville, Texas, and hosted by crypto cowboys Drew Taylor and Brent Bates, the show is designed to entertain, inform and keep listeners abreast of the latest developments in the crypto space. Taylor and Bates kicked off the show with sage Texan advice: “When life gives you BS, make fertilizer.”
Next came Bo Polny, who was back on the show to offer some interesting prognoses on the market. Polny is a successful trader whose cryptocurrency analytics service has attracted one of the largest paying-subscriber bases in the world.
“The devil is controlling the world right now, trying to make the world believe everything’s fine,” Polny stated in the interview. “He wants you to believe that the paper monetary system – the debt-based monetary system – that we’ve used for generations is going to go on forever. But that’s a lie.” Citing Lois Vogel Sharp, who runs End-Time Prophesies, Polny continued, “Unfortunately, when two worlds collide, only one wins.”
Jonathan Keim, communications director of CryptoCurrencyWire, tuned in from Los Angeles International Airport, where he was waiting to board a flight. “The boundary between fiat and digital currencies is blurring,” noted Keim, as he broke the news that BitPay had launched worldwide stablecoin payments.
BitPay, the world’s largest provider of blockchain payment services, is launching stablecoin payments for merchants and consumers around the globe. The company will support payment acceptance and settlement in any of three popular volatility-free stablecoins: Circle’s USD Coin (USDC), the Gemini Dollar (GUSD) and Paxos Standard Token (PAX) (http://ccw.fm/Rvmc6).
Another interesting development, reported Keim, is that “ledger now lets you earn cryptocurrency while you sleep.” Ledger, the hardware wallet company, has added a new service to its Ledger Live platform, enabling anyone to earn cryptocurrency staking rewards directly to their wallet.
Staking is a process through which users lock up some of their funds as collateral in exchange for helping to run a proof-of-stake blockchain network. In return, new coins are created daily and are rewarded proportionally to those who are staking their coins. Ledger has added Tezos as the first coin for this service. Tezos is a proof-of-stake cryptocurrency that’s focused on bringing governance to the blockchain (http://ccw.fm/Rd5T1).
Finally, Keim highlighted the startling headline, ‘Bitcoin Looks Ideal in Greece After Government Mandates 30% Electronic Spending’. The Greek government has passed a law requiring its citizens to spend 30% of their income electronically, explained Keim, or face a 22% fine on the remainder of that sum.
So far, valid electronic payments include only debit and credit card transactions and bank transfers. However, some commentators are suggesting that bitcoin may have a role to play in meeting the mandate. The law is designed to cut down on tax evasion, which is so widespread in Greece that it has been called a ‘national sport’. The law will come into effect next year (http://ccw.fm/l9CEU).
For the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/Pazt0
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