20th September 2024 > > Louisiana & Canada.

tl;dr

An honest and truthful appraisal of central bankers. Louisiana bags two major results for the crypto industry. It’s game over for the digital Loonie, to our collective relief.

Market Snap

Market Wrap

Alts are having a whale of a time with a sea of green and many double-digit or more increases over the few days. If you have been bottom-fishing then you might want to bank some of those gains. DCA on the way in, and DCA on the way out, is a proven winning strategy.

As for the question “wen banana zone?” I cannot tell you. But there are undoubtedly some promising signs.

Occasional Series – Central bankers

Scott of 100x Coin Club gets it spot on:

Curious Cryptos’ Commentary – You Are My Sunshine

After announcing that the state of Louisiana would take crypto payments in the form of either BTC or USDC in exchange for state services, the option to do so has already been accepted. The first crypto payment into the state’s coffers has been made to the Department of Wildlife and Fisheries:

https://www.treasury.la.gov/_files/ugd/92c97e_ee5334e5115b4bada9445f8c345665ed.pdf

State Treasurer Dr John Fleming explains:

“In today's digital age, government systems must evolve and embrace new technologies. By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.”

But it gets even more exciting than that. Just recently new legislation became effective in Louisiana that bans the state from participating in tests of CBDCs, and outlaws accepting CBDCs as payment:

https://legiscan.com/LA/text/HB488/id/3006883

The US, supported by Switzerland and Slovenia, continues to fight the good fight against the coercion and control that is embedded in the philosophy, design, and implementation of CBDCs, a truly wicked invention.

Curious Cryptos’ Commentary – The digital Loonie gets it

Canada’s central bank has ditched its eight years of research for their own CBDC, dubbed the digital Loonie.

I guess if you cannot figure out how to build a centralised blockchain that allows total government control over peoples’ lives in that lengthy period of time, then it is best to move on.

Or perhaps it was a previously unthinkable election defeat of the ruling party just the other day in Montreal to a separatist party, a result that has shocked Canadian politics, a result that presages the blowback from Justin “blackface” Trudeau’s treatment of the truckers, and a result which has put the kibosh on the digital Loonie.

Whatever the reason, we will chalk it up as another win for the crypto revolution.