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Alleged success in the UK is due to the hierarchy and structure of the EU. Which is in a constant state of bailing out greece and EU nations which receive more in benefits than they pay into the system. Cash positive nations like the UK paid more into the EU than they received. Which allowed for them to gain by leaving. Of course, the EU and others retaliated against the UK in revenge. Which significantly reduced any economic gains the UK may have made from the departure.
The UK being cash flow positive and no longer needing to prop up EU negative cash flow countries, contributes towards its FOREX trading stats improving. But I think we're far from seeing the final forms of either the UK or EU. We have seen firsthand the number of drastic changes which can occur from the global pandemic in 2020 to the present. Indications are such drastic changes may only accelerate heading into the future.
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It turns out that breaking an encryption algorithm meant to withstand the most powerful cyberattacks imaginable might not be as tough as we’d been led to believe. In a paper published over the weekend, researchers demonstrated that a PC with a single-core processor (weaker than a decent laptop) could break a “post-quantum” algorithm that had been a contender to be the gold standard for encryption in just one hour. Last month, The National Institute of Standards and Technology, or NIST, announced the winners of a years-long competition to develop new encryption standards, the likes of which have been designed to protect against a hypothetical (for now) threat that hasn’t been invented yet: quantum computers. Such hardware is projected to someday be so powerful that it will have the ability to easily decrypt our present-day public-key encryption (standards like RSA and Diffie-Hellman). To stave off this future threat, the U.S. government has invested in the creation of new encryption standards that can weather attacks by hardware of the days to come. NIST selected four encryption algorithms that it said would provide adequate protections and that it plans to standardize, meaning others would be measured against them. The contest took years to unfold and involved droves of contenders from all over the world. After the four finalists were selected, NIST announced another four that were being considered as other potential candidates for standardization. Unfortunately, one of those additional four algos doesn’t seem so sturdy. SIKE—which stands for Supersingular Isogeny Key Encapsulation—was one of NIST’s secondary finalists, but a recently discovered cyberattack managed to break SIKE relatively easily. Worse, the computer running the attack was about as far from a quantum computer as you could get: instead, it was a single-core PC (meaning that it’s a lot slower than your typical PC, which has a multi-core processor), and it only took an hour for the little machine to unwind SIKE’s supposedly tricksy encryption. “The newly uncovered weakness is clearly a major blow to SIKE,” David Jao, one of the algorithm’s creators, told Ars Technica. “The attack is really unexpected.” The attack on SIKE was discovered by a group of security researchers attached to the Computer Security and Industrial Cryptography, which is operated by Belgian university KU Leuven. The group published a paper that shows how a simple computer can use high-octane math to unwind SIKE’s encryption and nab the encryption keys that keep the algorithm secure. The attack involves an attack at a protocol called Supersingular Isogeny Diffie-Hellman, or SIDH, which is one of the fundamental components of SIKE, Ars Technica reports. The whole process of decrypting SIKE reportedly took 60 minutes or so, the amount of time it takes for your DoorDasher to arrive. The math, which I will never understand, can be read in the research team’s paper. Suffice it to say, creating digital protections is no easy task—especially when you’re dealing with new territory. Still, we apparently have a ways to go before all our secrets are safe from the world’s most talented math nerds. https://gizmodo.com/quantum-encryption-algorithm-nist-broken-single-core-pc-1849360898.... I remember electronic voting machines being hacked in a similar manner prior to their unveiling and rollout. It didn't appear to affect acceptance from the public. Most appear to not care about testing or results of new technology prior to mass adoption. But I think results of these tests could be worth taking a look at. Here one of the proposed quantum encryption standards (SIKE) was broken using a single core processor in only 60 minutes. Perhaps this is a warning sign to not be so quick to blindly accept new technology standards. But progress can never be made without a few unavoidable negatives. Perhaps other quantum encryption standards will fare better? |
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There's a significant difference between the united states invading countries in the middle east at a cost of more than $12 trillion. And russia invading ukraine while generating positive revenue. Generally analysts look at the technology, accuracy, speed and range of military weapons of war. In the modern era, perhaps we can see that cost of operation is a more relevant statistic. Russia can wage war in a cost effective manner. While the united states and europe may lack the capacity to do the same. It could set the stage for economic collapse in western nations, while russia is less hampered by deficits or debt. Irony being what it is, russia appears to have learned valuable lessons from the default and collapse of the USSR. While the USA and other nations of the world appear determined to recreate the USSR's budgetary mistakes. |
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Bumping this to check if views have changed over the last two months.
When I made this thread I thought I was saying: water is wet.
One possible outcome for russia may have been obvious given general economic and political conditions across the world.
Some digressed. Perhaps now we have a clearer picture.
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Total household debt for Americans has risen to a record $16 trillion, according to a report from The Federal Reserve Bank of New York, as Americans grapple with inflation and rising costs. “Americans are borrowing more, but a big part of the increased borrowing is attributable to higher prices,” NY Fed researchers wrote in a blog post accompanying the report, released Tuesday. The total rose 2 percent between the first and second quarters of 2022, or about $312 billion. This year’s $16.15 trillion household debt dollar amount is $2 trillion higher than what was recorded in pre-pandemic 2019. Increases in mortgage and auto loan debt are reactive to rising home and auto costs, the researchers wrote, and the uptick in credit card debt shows the effect of inflation. Mortgage balances were the biggest contributor to the $2 trillion increase, rising by $207 billion to $11.39 trillion total. Auto loans rose by $33 billion. Credit card balances went up by $46 billion, one of the largest recorded by the NY Fed since 1999, “at least partly reflecting inflation on consumer goods and services purchased using credit cards,” the researchers wrote. Non-housing balances — including credit card, auto and student loan debts — saw the largest increase since 2016, up by $103 billion. The NY Fed reported student loan balances, at around $1.59 trillion, didn’t much fluctuate from the first quarter. The report from the Federal Reserve Bank of New York drew from the New York Fed Consumer Credit Panel, a nationally representative sample of Equifax credit report data. https://thehill.com/policy/finance/3584781-americans-household-debt-surpasses-16t-for-first-time/.... As new data is compiled, we are seeing interesting trends emerge. Credit card balances went up by $46 billion, one of the largest recorded by the NY Fed since 1999 The above could validate rumors of americans using credit cards to buy food and other essential goods. Which is a frightening thought to consider. Most americans believed it was impossible for these levels of inflation to affect us. We're still living in denial, that this is actually happening. We thought things like this only happened to other nations. If we're to address these issues, we will need to adjust our perspective and way of thinking of things. It will take time. I'm not certain if time is a luxury we can afford. |
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Usa will going to save economy around the world
I hope no one is expecting the united states of america to save them. We have a decent number of AR-15's with extended magazines. That's about it. People want the world to be different. But lack the essential knowledge to make it a reality. Deadlifting 700 pounds. Is easier than picking up a book to read and learn. Most things in life are easier than reading or learning. Most prefer to do the easier thing. And that is what prevents us from being saved. |
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here have been high increase in cash deposit and withdrawals in Britain.
There are so many potential motives behind upticks in cash withdrawal and deposit. Its difficult to pinpoint a prime mover or single cause. Greater cash deposit could be one indication that more side jobs and freelancing gigs are being taken on in response to rising inflation. There could also be greater transaction volume in second hand markets. More garage and bake sales. Which could be another reactionary movement to inflation. Greater cash withdrawal could be linked to concerns of electronic payment outage. Recent bank runs abroad. Consumers needing more cash on hand to cover rising prices due to inflation. I would be interested to know the real reasons behind these trends. |
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5. Unbacked crypto-assets such as Bitcoin Isn't it annoying to read this term? Implying that it isn't backed by anything makes it sound like a non-licensed liability, hereby a scam. Since when do we use the term "unbacked" for assets? Fiat currency was criticized for many years. For governments lacking precious metals reserves to back what they print. "Create money out of thin air." Was originally a criticism for paper money in eras when a gold standard was abandoned. Naturally proponents of fiat feel a certain irony and satisfaction at redirecting these classical criticisms at cryptocurrency. They had been in a position of defending against these arguments for so long. They took perverse type of pleasure in seeing others struggle with it. I wonder if it could be fair to say that bitcoin is backed by the electrical consumption of its mining sector. It certainly protects BTC's blockchain against 51% attacks and verifies the integrity of the entire system. Bitcoin's algorithm not being easily adjusted or adapted could be another form of intrinsic backing. The codebase guarantee that makes BTC difficult to hyperinflate. |
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What do you think is the way forward? Flex hour freelance work like uber driving and amazon package delivering should become more common to fill gaps in normal work schedules. The average worker could need to work days off and multiple jobs to retain their standard of living. There are rumors a high percentage of consumers are using credit cards to make purchases and even out inflation. This is a temporary solution at best. A good portion of focus in entrepreneurship or being an employee is opportunity. The biggest opportunities at the moment are lack of manufacturing and productivity. Hopefully whatever gaps and shortages appear can eventually be addressed through modern means. Whether its high fossil fuel prices or food shortages. A cultural shift towards relying less on corporations and the state is also greatly needed. People need to develop better relationships, organization and communication with community and family. See eye to eye with those in the same circumstances. And learn to cooperate. The opposite of divide and conquer. |
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She is a single mom with 2 children Single moms may not have much time or energy to devote to crypto. But her two kids might. There are blockchain based games similar to pokemon go like coinhuntworld that kids can play to collect crypto prizes. https://coinhunt.world/My 8 year old nephew somehow knew what dogecoin was, even though I never told him about it. Crypto has become enough of an internet meme that kids apparently learn about it simply by browsing the internet. There must be other games and fun activities kids can do to earn crypto on the internet. Imagine being a kid. Playing games to earn crypto. Which can be exchanged for cool stuff. It can't be that bad of a thing, I would guess. |
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Knowing what you now know, would you rather save fiat more or save in Bitcoins more?
Is there anyone who saves in fiat, when inflation is greater than 8%? Has it somehow become a recommended investment strategy? Diversification strategies are out. Saving in fiat is in. While recent bitcoin trends have not been great. The question is whether people notice recent changes in bitcoin's price behavior. The recent plunge in BTC makes no sense at all. Its a higher percentage drop than china banning bitcoin. With no events that would suggest such a price decline should occur. Bitcoin's recent trading in lockstep with the DOW is also a big question mark and a huge departure from its normal trading cycle. How do people explain these things, if they notice them. That could be the real question to ask. |
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Doesn't portugal have 50% youth unemployment? (Ages 19-24).
A high percentage of youth in the country may statistically have no job. And no bank account. Bitcoin in portugal could be yet another case of the unbanked demographic adopting crypto as a digital payment option. Due to banks refusing to lower their standards enough to become viable to the lowest entry level customers.
Bank based crypto bans mainly target whales and larger investors. They ban will be ineffective on them, as whales travel enough to get around it.
This doesn't achieve much aside from limiting portugal's financial options and economic growth. The gains of which can be enjoyed by el salvador and others who adopt a more pro bitcoin stance.
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More hydrogen-powered trucks will take to the road in Europe this week thanks to funding from the German government, which will support the rollout of 27 heavy-duty Xcient Fuel Cell trucks by Hyundai to a group of seven German companies. The seven German companies working in logistics, manufacturing, and retail will put 27 Xcient Fuel Cell trucks into their fleets in the future thanks to funding for eco-friendly commercial vehicles from Germany’s Federal Ministry for Digital and Transport (BMDV). While hydrogen fuel cell transport is probably not viable for mass private transport, and making it uses more electricity than simply supplying the electrons to batteries alone, many believe it has a place in long haul and heavy transport. Hyundai – which in its release did not clarify if the fuel cells would be charged with “green” hydrogen, using 100 per cent renewables – plans to utilise the launch of these new Xcient trucks as an opportunity to further expand its business into the wider European commercial vehicle market. The 27 new Xcient trucks follow 47 units which have already been deployed in Switzerland – the first 10 of which were delivered in mid-2020 – and have already clocked up over 4 million kilometres. The Xcient Fuel Cell heavy-duty trucks are equipped with a 180kW hydrogen fuel cell system made up of two 90kW fuel cell stacks, delivering power to a 350kW motor with maximum torque of 2,237Nm. The hydrogen used to power the truck is stored in seven large hydrogen tanks which offer a combined storage capacity of around 31kg of fuel, while a 72kWh set of three batteries provides an additional source of power. All in all, a Hyundai Xcient Fuel Cell truck boasts a maximum driving range of 400km per charge and refuelling a tank of hydrogen only takes between 8 to 20 minutes, depending on the ambient temperature. https://thedriven.io/2022/08/04/hyundai-rolls-out-27-heavy-duty-hydrogen-trucks-in-germany/.... This is generally viewed as easing the cost of shipping and products in a country. But there is another angle to it. The existing gasoline infrasructure can be used to transport and store hydrogen fuel. Trucks used to transport gasoline across the country, can be used to transport hydrogen fuel. Gas station fuel tanks that normally store gasoline. Can also be used to store hydrogen. As the cost of fossil fuels rise, alternative energy options like hydrogen become more viable. At a certain tipping point, shipping and transportation become more affordable via hydrogen fuel than gasoline. And the existing infrastructure being accommodating to hydrogen without major modifications certainly helps. The main obstacle would be lack of domestic hydrogen fuel generation. Catalysts to generate hydrogen more efficiently have been like a holy grail for researchers. A hydrogen based economy has been touted as one potential clean energy option for the future. Perhaps circumstances are aligned now to make it a reality. What do people think. |
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The united states role as a global manufacturer being greatly diminished. There isn't a supply chain in place to transport goods from america to europe. European tariffs and taxes on american commodities are very high. Enough to make importation of american oil an unprofitable business via default.
A shift in oil supply cannot occur without significant taxation & law adjustments in the EU hierarchy.
Then there are other impediments to this happening in the united states. Permits to drill for oil in the USA are not being given a green light. Oil pipelines are not running and have been shut down.
There's a long list of things that would need to happen for the US to import oil into the EU. Most believe they're better off not knowing what any of those things are. Which makes it even harder to resolve the problems we face.
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Fossil fuels are usually heavily subsidized by the state.  Image link: https://i.ibb.co/crNVFJ5/oil-subsidies.jpghttps://subsidizinggreen.blogspot.com/2011/12/history-of-subsidies-in-united-states.htmlRather than raise taxes. In the united states, it would make more sense to simply cut subsidies. Giving free handouts to oil companies in the form of subsidies while simultaneously raising taxes on oil. Increases inefficiency. People don't care about this that much. They think it doesn't affect them. But one day they will wake up and realize it does greatly affect them and their standard of living. And hopefully they will take this issue more seriously then. |
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Africa's past history with fiat currency isn't a good one. Zimbabwe dollar hyperinflation is legendary. For all reasons minters of an asset would not want to be known. Africans have had a lot of negative life experience with state issued fiat. Their typical economic situation is one where they search for alternatives.
I suspect a high percentage of africa's population are also unbanked demographics. Their success story with cryptocurrencies trends with claims of 4 billion unbanked in the world.
Crypto doing well in africa could be a double whammy of history conspiring with the unbanked to create a perfect storm of crypto mass adoption. If inflation around the world continues to rise, it is possible we will see an uptrend to these metrics. People will seek alternatives to fiat and inflation. Which could drive them into embracing crypto markets and other alt assets.
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There were plans to release oil from america's strategic petroleum reserves in an effort to reduces gas prices. It is possible that these initiatives are finally manifesting themselves in market prices.
Biden proposed suspending the federal gas tax which is an excellent measure I support. Unfortunately, it seems the proposal was buried and might never see the light of day again.
2022 is an election year for the USA. All types of craziness occur in the year and a half leading up to elections.
I think Osama Bin Laden was assassinated prior to previous elections. General Soleimani may have been as well.
Pre election stunts and gimmicks can reach levels of epic proportions. Politicians definitely want the public feeling better gas prices before heading to voting booths, I would guess.
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There is definitely a fine line separating gambling from so called games of skill. Some say fantasy sports should be categorized games of skill rather than gambling. In the USA some states have outright banned fantasy sports platforms like fanduel and draftkings which some view as a controversial policy.
Participants in fantasy sports compete against each other. Rather than sports outcomes. Which could designate it a game of skill rather than gambling.
I think a debate might also be had on whether investments like stocks and bonds might be considered gambling considering the potential for unexpected events, bubbles and market collapse.
Risk and reward have always been strongly correlated. We have come to dislike risk and consider it an unfortunate circumstance. But the greater rewards are available through it which tends to complicate matters.
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Are people familiar with the term insider trading? Where industry insiders know ahead of time which announcements will be made. And invest to profit from the inside information.
There is a similar insider gambling trend that is real. Coaches. Athletic trainers. Athletes. Industry insiders. People who know people. They have access to inside information that is valuable in gambling, that the general public does not have.
One example of inside gambling was when Francis Ngannou fought Ciryl Gane. Industry insiders knew Ngannou went into that fight with a knee injury. Which is why the betting line was slanted in Ciryl Gane's favor. Ngannou won the fight, despite his injury. Which goes to show insider gambling isn't always profitable.
Another example of inside gambling was when Amanda Nunes fought Julianna Pena the 1st time. Lots of industry people came out and predicted Pena would win the fight. Due to inside information about Nunes being in a poor state of preparation leading into it.
There are definitely consistent winners in gambling. Having inside sources might help.
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Hopes for a congressional vote this summer on a major tech antitrust bill have all but fizzled out as the August recess quickly approaches. The big picture: It's more likely than ever that this Congress will push efforts to pass Big Tech competition rules into the fall, where they will face slim chances with lawmakers distracted by midterm elections. - If an autumn push fails, competition regulation will have to wait for the new Congress — and if the GOP takes back congressional control, it's unlikely to be a top priority.
Catch up quick: The American Innovation and Competition Online Act, co-sponsored by Sens. Amy Klobuchar (D-Minn.) and Chuck Grassley (R-Iowa), would ban Big Tech companies from favoring their own services in an anticompetitive way. - For example, Apple would have to allow third party payment systems and Google could not surface its reviews over others in search results.
- The Senate bill is a companion to a similar House bill approved by the House Judiciary Committee last summer.
Driving the news: The American Innovation and Competition Online Act has bipartisan support. But floor time is dwindling as a list of Democratic priorities, including budget reconciliation and protecting same-sex marriage, take precedence. - The Senate is only in session until Aug. 5 and Congress' main tech priority is to pass a narrow version of a chips bill meant to bolster American tech manufacturing.
- Senate Majority Leader Chuck Schumer (D-N.Y.) said he was aiming for a summer antitrust vote if the bill had 60 backers, Axios previously reported. A count from the Washington Post found that fewer than 60 senators publicly back the bill.
What they're saying: Supporters are grappling with the idea that their bill may not see floor time until after the August recess, per conversations with sources from advocacy groups and companies pushing for a vote. - One Hill aide told Axios the bill's backers see the fall, often a dead zone for bipartisan legislation before midterm elections, as a "viable option" because of the legislation's range of support.
- "Chuck Schumer promised a vote. Klobuchar and Grassley have been consistent that they have 60 votes," a former Senate aide close to the conversations told Axios. "They're still pushing for this summer before the work period ends, but if not, you'll see a very consistent and concerted effort to try and get this done in the fall."
- "I am working with Sen. Klobuchar. I support these bills. I want to bring them to the floor. We have to see if we have 60 votes," Schumer said at a news conference Wednesday.
- "We have a strong bipartisan coalition in both the House and Senate pushing this bill forward... We continue to work towards having a floor vote on this legislation as quickly as possible," Klobuchar said in a statement to Axios.
Yes, but: Advocates tell Axios that if the bill hits the floor at any point before a new Congress is sworn in, it will pass with at least 60 yes votes. - They say members of Congress are simply keeping their votes private until it's time to actually vote, fearing pressure and lobbying from Big Tech if they publicly support the policy.
Flashback: The House began this current antitrust legislative push in 2020, with a sweeping report charging the biggest U.S. tech companies, including Meta, Amazon, Apple and Google, with putting their own products and services ahead of competitors'. - House members introduced five separate bills accompanying the report, most of which have not seen much movement.
- The lobbying battle has been intense, with Big Tech and its advocacy groups dropping millions on TV and online advertisements opposing the effort.
https://www.axios.com/2022/07/21/big-tech-antitrust-senate-fizzle.... Apple discontinued support for adobe flash. Microsoft in past years sabotaged openGL to run slower on windows. To give its own Direct X technology a distinct advantage. We have certainly enjoyed no shortage of brand name tech giving its platform advantages over competition. But to resort to potentially antiquated ideology in global markets like anti trust laws. It is quite a leap to make in contrast to prior precedents set over the last few decades. When Bill Gates was still acting CEO of microsoft, the US government proceeded with plans to break microsoft up into smaller corporations on grounds of anti trust. Bill Gates threatened to move microsoft operations to canada to avoid the anti trust break up. And the US government relaxed its break up proposals. Now it seems the anti trust push has returned with EU nations imposing anti trust fines on american big tech. Here we have new regulation proposed. Regulation which could be many thousands of pages in length, containing stipulations consumers wouldn't expect. On a positive note, it is possible that anti competition regulation might extend to bitcoin and cryptocurrencies. 3rd party payment and financial institutions might be limited in promoting their own platform over that of bitcoin and crypto alternatives. I'm not certain if this could extend that far. But it could make for an interesting discussion. As to whether or not free market regulation should make more of an effort to be objective and unbiased in the pursuit of excellence. |
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