Coffee and bitcoin in honour of El Salvador's farmers

 

Coffee and bitcoin in honour of El Salvador's farmers

D.C. Washington-based coffee company launches

bitcoin mix in honor of El Salvador farmers

According to a statement sent to Bitcoin magazine, Compass Coffee entered

It is a café company based in Washington

D.C. :

1. in partnership with the Embassy of
2. El Salvador to launch Bitcoin Blend
3. a limited edition dedicated to El Salvador's farmers.

The company hosted a conference on bitcoin and El Salvador, in which El Salvador's Ambassador to the United States, Melina Mayorga, participated.

Today we are very excited to announce the new bitcoin mix

made from coffee that was grown in El Salvador's Santa Ana region, claimed Mayorga.

1. "Created by Compass Coffee in honour of
2. the first anniversary of the adoption of
3. bitcoin in El Salvador."

The mix features ingredients from El Salvador's farms and a portion of the sales revenue will be donated to support El Salvador's rapidly growing coffee industry.

Max Dim, vice president of operations at Compass Coffee, said.

For us, a lot of exciting things about bitcoin.

Compass believes that bitcoin enables local business owners in the region.

Thus :

• while Bitcoin and coffee may not seem like a natural partnership for some

• to lead Compass Coffee

• it makes perfect sense in the world.

Chas Newman, Head of Supply and Production at Compass Coffee, said

The use of bitcoin for payments to our international coffee partners means that we are able to reduce a lot of the additional costs that come with doing business internationally.

Compass is currently looking to become supported by Lightning at its 15 locations in the metropolitan area and is already accepting bitcoin as a payment in its online store.

Bitcoin will survive crypto winter

The head of Twitter and Tesla said bitcoin would "work," but the financial winter could last some time after recent events in the ecosystem.

Elon Musk, Twitter's newly appointed CEO, said

((Bitcoin will work, and it could be a long winter))

The suspension follows recent catastrophic events that led to the collapse of the cryptocurrency ecosystem.

However, this "crypto winter"

1. as is often referred to
2. worsens with institutional failures in
3. the ecosystem and alterations in the state of the world economy.

Musk's response was provided in reference to a comment talking about the previous high of bitcoin at $69,000 that asked where bitcoin might be priced a year from now.

In fact 

the price of bitcoin fell dramatically, as did confidence in the wider industry.

The industry was plagued by the ripple effects of suspicion once the collapse of the so-called Terra stable currency disrupted the world of finance.

Suddenly 

institutions and the world had to accept that stable algorithmic currencies could fail.

The company quickly collapsed with an abundance of exposure with Terra's infrastructure.

Thus 

Others that have decreased include Voyager Digital, BlockFi, Celsius, and Babel Finance.

When companies began to fall

• the price of bitcoin and cryptocurrencies also began.

• as winter set in, some people started to wonder when

• the bottom would arrive, the market faced a new problem.

FTX 

one of the world's leading cryptocurrency exchanges, has reached a radical and almost immediate end.

The company

which presented itself as a saviour of the ecosystem when it consistently insisted that it would acquire other failed companies to protect consumers

It failed to protect its customers after filing for bankruptcy and was then compromised for more than $515 million in consumer assets.

Even so 

while trust in institutions and guard service providers in the ecosystem is failing, Musk said, "bitcoin will work."

Consumers can simply learn to trust themselves more than those whose choices and actions can cause harm not only to consumers but to the entire ecosystem.