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1201  Economy / Economics / Re: Coming economic problems all world how to profit on: March 17, 2022, 11:09:20 PM
Elon Musk became the richest man in the world by finding better methods to fulfill basic human needs like transportation. Jeff Bezos was the richest before him by fulfilling basic human needs relating to buying, selling and distribution of goods.

Everyone in the world now needs alternatives to oil. Whoever manages to fulfill this basic need could make billions in profit. Food prices are rising. Food growth and production is a good market to enter now. Shipping costs are rising. Shipping and trucking businesses are also a good investment. There are many options and opportunities a person can seize now, simply by looking at peoples needs and trying to offer better options.

Bitcoin and cryptocurrencies offer consumers, businesses and retailers better options in contrast to some traditional markets, which is also a big part of where its value and wealth derives from.
1202  Economy / Economics / Re: What skills should I learn to get freelance work ..?? on: March 17, 2022, 10:38:44 PM
Hello everyone , I wanted to increase my monthly earnings and for that I know I need to have some skills.
Currently I do write articles, but not getting paid as I would like.
I am willing to learn some more skills so that I can get good paid freelance work here in this forum or any other freelance website.
Can you please guide me what should I learn.
Some options I thought digital marketing or take a course on blockchain.
Please give me some advice. I want to earn good money and for that I am ready to work hard and learn some good skills which would help me do so.


It depends on your interests. Having interests aligned with your goals makes everything much easier. Wheras having goals which do not align with your interests will make things difficult.

There are many educational resources available, some of which offer academic degrees for course completion and a lump sum.

https://www.khanacademy.org/
https://www.coursera.org/
https://www.udacity.com/

You'll have to try different things to see what you're good at and which type of things you enjoy the most.
1203  Economy / Gambling discussion / Re: 🥊 The UFC Info and Prediction Thread on: March 17, 2022, 09:54:00 PM
Thoughts on some of the match ups.

Dan Hooker vs Arnold Allen

Dan Hooker has had issues with COVID travel restrictions negatively affecting his last two or three performances. Each time he travels to the united states it has taken him 2 months to arrive back home. It was enough of a problem that his team of city kickboxing (Israel Adesanya, Alexander Volkov, Kai Kara France, etc) considered leaving new zealand to migrate to the united states.

On the opposite end of the spectrum, it appears Arnold Allen is not training at tristar with Firas Zahabi for this fight. As he did for previous bouts in the UFC. Tristar has not dominated of late the way they did when GSP and Rory MacDonald were top contenders.

I think Dan Hooker has the advantage, if the weight cut down to 145 lbs doesn't negatively impact him too much.

Paddy Pimblett vs Rodrigo Vargas

Paddy loses focus when he has his opponent hurt. Might be worth a small bet on Rodrigo Vargas who has 7 KO/TKO finishes in 12 wins. The UFC has seen many hype trains derailed since its inception. Paddy Pimblett isn't as good as the hype surrounding him IMO.

Jack Shore vs Timur Valiev

Timur Valiev is yet another dagestani in the UFC. The gym affiliation listed under his sherdog profile says JacksonWink MMA. Valiev's instagram shows him training at Nick Catone MMA and Ricardo Almeida.

Jack Shore appears to train in europe. Unfortunately, I can't remember enough of Timur Valiev's fights Or Jack Shore's to remember how good they are. Jack Shore appears to have a good height advantage.

I want to lean Valiev off him having the more established trainers and gym. A lot of these fights come down to who wants it more, especially at lighter weight classes.
1204  Economy / Economics / Re: Economic crisis its good on: March 17, 2022, 09:26:58 PM
As things will become cheaper also good to create business as everybody will do cheaper work.
Central banks will hike rates no question it will create huge demand for money so lets not waste our money and use it to buy cheaper things.

Global things what u buying and selling will be more expensive.
Local things cheap cheap houses cheap local food cheap workers.

Real estate will get biggest hit in the world as all real estate is 80% bubble so 80% correction is asap as we all know this.



Rising oil costs. Correlate with hikes in energy, shipping, transportation, food production costs. Everything becomes more expensive.

Basic living expenses are priced into the cost of work. Which will dramatically increase along with the value of oil and its derivatives.

Overprinting of fiat currency, if it continues, will also contribute towards price hikes across the board in all industries.

I hope there isn't anyone holding their breath expecting prices to decline. Unless they can hold their breath for a very long time.
1205  Economy / Economics / Re: Why british pound so strong ?? on: March 16, 2022, 04:21:00 PM
Why british pound so strong



I would guess reasons for it go something like this

  • The UK is geographically isolated from global hot spots like ukraine and the south china sea
  • They are insulated from greece's debt and the european unions troubles
  • Their revenue to debt numbers are positive

People are always looking for safe places to denominate their wealth.

Any variable offering advantages in stability or safety are correlated with value.
1206  Economy / Economics / Re: Climate change: EU unveils plan to end reliance on Russian gas on: March 15, 2022, 09:05:11 PM
I didn't do my homework, so I won't say anything about the content. But how much energy is needed to turn sand into those panels?
That's a clean energy, right? (/sarcasm)


The process is powered by electricity. Which can be derived from environmentally friendly or not so environmentally friendly sources. With the majority of production located inside china, notorious for its coal energy market. It is probably dirty. Solar panel production lacks the mobility and flexibility of bitcoin mining, which allows for easier targeting of renewables.

All energy sources require start up capital, man hours of production and a carbon footprint. All of these are generally measured in cost per watt produced.

There are youtubers and streamers who live on boats or in a van who power all of their mobile electrical needs on a handful of solar panels costing less than a playstation 5. For an offgrid setup, this cannot be beat. The weakest link in the chain are the batteries. Panels have a longevity of 10 to even 20 years. The lifespan of batteries is far shorter.


I'm not against solar power per se, but there are things to improve there, from the surface those panels take (surface that won't be used neither for crops, nor for forests!) to the countries actually work together in this.
I also fear that in the desert areas (probably more suitable for solar panels) the dust can be an issue.
And I fear that we can easily end up replacing Russian gas with electricity from Sudan or Chad (just some wild examples). What if that region becomes (even more) unstable?

All in all it's not a quick solution. I fear that for short-medium term coal and nuclear power plants need to be re-opened.
And the solar-energy plan has to be very well thought by politicians together with engineers, at least (after all, the current green deal was not well thought by politicians and gave Putin the window of opportunity for this crap).


Panels can be placed on roof tops unobtrusively. Development of panels designed to replace roof tiles, transparent and flexible solar panels intended to cover windows and other areas have been in planning stages for awhile now.

Instability is 100% guaranteed if inflation, supply chain and other negative economic issues persist.

Coal is heavily subsidized by some nations. One issue with nuclear energy is it centralizing control of energy generation under governments. Only nations can afford the high start up costs attached to nuclear power, which is why only governments control nuclear plants. And of course they always locate nuclear plants in high risk earthquake tsunami zones on a geological fault line. As that is where the cost cutting occurs -- building on cheap land in poor neighborhoods.

"Very well thought by politicians." When was the last time politicians "well thought" anything? I would be curious to know.
1207  Economy / Economics / Re: Russia and china natural resources profit on: March 15, 2022, 08:37:55 PM
how to get in this specillay natural resources like gas oil


How to enter energy markets on a budget? There are methods of attempting this.

One method commonly used to enter fossil fuel markets on a shoestring budget is bio diesel. Waste vegetable oil used to be harvested from restaurants for free as a waste product, strained and used to power vehicles with diesel engines. There is an episode of mythbusters where they achieve around 30 miles per gallon in a car using this method.

Mythbusters - Cooking Oil as Economical Diesel Fuel
https://www.youtube.com/watch?v=QEX1YFXYTdI

Crude oil can be one ingredient used for producing plastic bottles. Plastic waste littering beaches, oceans and the countryside are essentially crude oil waste. Which can be recycled to produce fuel.

How Waste Plastic is Converted into Fuel
https://www.youtube.com/watch?v=1STaZYZ-P1w

There are other potential methods. Many of which have nothing to do with fossil fuels.
1208  Economy / Economics / Re: Putin is trying to coerce firms into doing business or else... on: March 15, 2022, 08:13:15 PM
This is a very peculiar understanding of business and the rule of law. I wonder that, if this is effectively implemented, will we ever see a western company investing or doing business in Putin's dominions? Will the jobs for the Russian people created by this companies disappear for decades to come?


Many regimes make the errors venezuela did after nationalizing the private sector operations of kelloggs, toyota and other businesses. Leaders there confiscated all assets and sold them off to fatten their own pockets. It resulted in a negative trend where jobs were lost and never returned. The economy was weakened by significantly reduced local production of goods, which converged with currency devaluation to drive costs upwards as the bolivar hyperinflated.

Putin will not follow the precedent of venezuela. His goal will be to reopen businesses seized to keep job markets and local economic production intact. Whether he can achieve this feat, will come down to whether he can negotiate with or replace suppliers. He can seize and re-open McDonald's with generic ingredients and dishes that are not from official sources. This is easier to do today than ever. DNA identification in the food industry allows identification of secret ingredients and (perhaps) secret recipes. Every food item prepared by restaurants like McDonald's could be identified by DNA testing and perhaps reverse engineered.

There definitely is a blueprint for Putin's approach potentially being successful. Whether or not he can succeed at this venture, which has not been tried before is anyone's guess.

1209  Economy / Economics / Re: Climate change: EU unveils plan to end reliance on Russian gas on: March 15, 2022, 07:44:46 PM


I know many posters here love china. They will be gratified to know the lion's share of solar panels purchased under these plans will provide china with boosts in revenue.   Grin

Solar is not a lost cause IMO. The advent of megawatt hour capacity, grid tied, lithium batteries is necessary for effective large scale deployment. Elon Musk engineered a battery of this type in south australia around 2017.

Solar panels are created from refined silicon derived from sand and do not require rare earth minerals, noxious or hazardous chemicals AFAIK. The manufacturing process is also not tied to unethical and immoral predatory business practices. Much of europe may not be near enough to the equator to provide full sunlight. But it is a common practice for nations and states to distribute and sell the surplus energy generated from wind and solar power, which could allow power to migrate and creep over distances.

Off grid deployment is also an option. Although, I think to be effective would require better batteries which offer longer longevity than a typical lead acid composition.
1210  Economy / Economics / Re: Bitcoin, safe havens and real estate in a foreign country on: March 15, 2022, 07:21:40 PM
The below youtube clip makes a case for real estate being an inflation protected asset.

How To Profit From MASSIVE Inflation
https://www.youtube.com/watch?v=MPQ0pttjinI

While real estate in dubai may not be the best location judging by future global warming and drought forecasts. Its deregulated and noncompliant atmosphere could offset those potential negatives for russians being targeted by global finance for the sins of Putin. Real estate being touted by many as an inflation protected asset offers yet another benefit.

Saudi arabia itself is under pressure from the international community, similar to russia. This was indicated by saudis reportedly declining phone calls from Biden during the ukraine crisis.

Quote
Saudi Arabia, UAE Leaders Reportedly Decline Calls With Biden Amid Ukraine Crisis

The Gulf nations reportedly indicated they would not alleviate surging oil prices unless the U.S. changed course on policy in the region.

https://www.huffpost.com/entry/saudi-uae-leaders-decline-calls-biden_n_6228156ae4b07e948aec356c

Which could make russian and UAE interests aligned.
1211  Economy / Economics / Exxon Mobil, Pfizer removed from Dow Jones Industrial Average; Salesforce, Honey on: March 14, 2022, 01:03:19 PM
Quote
The Dow Jones Industrial Average, a collection of major stocks that provide a gauge for how the markets are performing, is replacing three of its components, including its most longstanding member.

Longstanding Dow staple and oil giant Exxon Mobil, pharmaceutical company Pfizer and defense contractor Raytheon Technologies are out.

Cloud software seller Salesforce, biopharmaceutical company Amgen and manufacturing conglomerate Honeywell are in.

The removal of Exxon, which had been part of the Dow since 1928, comes amid a massive slump for the oil sector during the recession tied to COVID-19. The pandemic has dampened energy usage.

Chevron will be the only energy company remaining in the Dow. Other members include Walmart, Home Depot, Johnson & Johnson, Microsoft, McDonald's, Cisco, Verizon, Visa, Nike, Goldman Sachs, Boeing and Disney.

S&P Dow Jones Indices, which controls the index and made the announcement, said the decision was due to Apple's decision to conduct a 4-for-1 stock split. That split would have reduced the percentage of the index devoted to technology.

"The announced changes help offset that reduction," the organization said in a statement. "They also help diversify the index by removing overlap between companies of similar scope and adding new types of businesses that better reflect the American economy."

The changes won't alter the current value of the index when they take effect before trading begins Aug. 31, as the Dow uses a price-weighting technique to balance out the value of the components.

https://www.usatoday.com/story/money/2020/08/25/exxon-pfizer-dow-jones-industrial-average-salesforce-djia/5630916002/


....



Exxon mobil and pfizer are such staple assets, big sprawling multi nationals. Its surprising to see them cut from the DOW average.

Does this mean no one wants pfizer's 4th booster shot?

Quote
Pfizer CEO says a fourth booster shot is 'necessary' to protect against COVID-19

Pfizer CEO Albert Bourla said it will be necessary to receive an additional booster shot in the future.

During an interview on CBS's "Face the Nation on Sunday, host Margaret Brennan asked if a fourth booster shot is needed.

"It is necessary, a fourth booster right now," Bourla responded. "The protection that you are getting from the third, it is good enough, actually quite good for hospitalizations and deaths."

https://www.msn.com/en-us/health/medical/pfizer-ceo-says-a-fourth-booster-shot-is-necessary-to-protect-against-covid-19/ar-AAV0P5r

There have been past discussions on cryptocurrency based indexes which might learn from this trend. In the past I favored independently created indexes, over ones regulated by industry personnel.

This could signal the demise of america's crude oil industry. Whereby wind or solar based energy stocks might later be included in the DOW to fill the vacuum created by exxon's departure. The attempted explanation invoking apple's stock split didn't fit known DOW criteria that I know of. Which makes the move seem more arbitrary.
1212  Economy / Economics / Climate change: EU unveils plan to end reliance on Russian gas on: March 14, 2022, 12:56:25 PM
Quote
As countries scramble to reduce their reliance on Russia's oil and gas in the wake of its invasion of Ukraine, few places are as exposed as the European Union.

The EU gets roughly 40% of its gas from Russia: According to figures from research group Transport & Environment, this dependence costs around $118m a day.

But moving with a speed few thought possible, the EU has now laid out a strategy that could cut reliance on this fuel source by two thirds within a year.

The REPowerEU plan aims to make Europe independent of Russian fossil fuels by 2030, but the initial efforts focus solely on gas.

The roadmap essentially proposes finding alternative supplies of gas in the next few months and boosting energy efficiency while doubling down on greener sources of power in the medium to longer term.

"It's hard, bloody hard," said EU Commission vice president Frans Timmermans.

"But it's possible if we're willing to go further and faster than we've done before."

The Commission's new proposals will make it a legal requirement for EU countries to ensure they have a minimum level of gas storage.

The aim is to have gas stocks at 90% of capacity by the Autumn, up from around 30% now.

Discussions are ongoing with existing gas suppliers including Norway, Algeria and Azerbaijan to boost flows.

The plan envisages ending reliance on all Russian fossil fuels "well before" 2030.

In the short term, gas should be sourced from the US and Africa while some countries may need to use more coal in the months ahead.

The EU also proposes a massive ramping up of renewables, biogas and hydrogen.

While carbon emissions may rise in the short term, the longer-term aim is a speedier transition to sustainable sources.

Another key focus in the coming months will be increased imports of Liquefied Natural Gas (LNG) from suppliers including the US, Qatar and Australia.

But with Germany announcing plans for two new LNG terminals to increase supplies, some experts are worried that this could increase longer term dependency on fossil fuels.

"I think we're living in a tricky time, that there's so much political pressure to make these energy policy decisions," said Prof Paula Kivimaa from the Finnish Environment Institute and the University of Sussex.

"But we also must look beyond the next couple of years. If Germany builds new LNG infrastructure, there is a risk that it kind of locks it in for the foreseeable future."

As well as diversifying gas supplies, the Commission also believes the reliance on Russia will be eased as there are new renewable energy projects due to come online.

The EU says that countries should look to use the revenues raised from the Emissions Trading Scheme, which have almost doubled since 2020, to pay for these green energy sources.

But in the next few months, dirtier energy sources like coal may also be needed.

"There is some capacity from the power sector to generate more electricity with coal, and biofuels and there's also some new wind and solar products coming online," said Carlos Torres Diaz, head of gas and power markets research at analysts, Rystad Energy.

"So this could be a way of reducing some of the gas consumption as the power sector is the largest consumer of gas. This could be done within this year."

Frans Timmermans recognised that for some countries, it might make sense to switch to coal in the short term, but this could bring its own difficulties. Europe gets around 30% of its coal from Russia.

Alternative supplies from countries like South Africa and Columbia are not easily obtained.

Any switch to coal would also rapidly boost carbon emissions, a trend that's already well underway.

"We've already seen the emissions from coal increase last year, because of an increase of 18% in coal power generation," said Carlos Torres Diaz.

"So if this continues, during 2022, emissions will continue to rise, because coal power generation has more or less twice as much emissions as gas generation."

The Commission document also says that renewable energy projects must be fast tracked and says there is huge potential in domestic rooftop solar power.

Up to a quarter of the bloc's electricity consumption could be generated from panels on homes, farms and commercial building, the Commission says.

To reduce reliance on natural gas from whatever source, the Commission is also calling for a huge ramp up in biogas, which is made from agricultural and food waste.

With the extra investment in renewables, this could also lead to a significant increase in green hydrogen which can be made from wind and solar power.

The Commission is now calling for a quadrupling of hydrogen use by 2030.

"They would have gravitated towards green hydrogen over the next couple of decades, up to 2050, that sort of timescale," said Mike Foster, Chief Executive of the UK trade body Energy and Utilities Alliance.

"Actually, this crisis has brought it to a head, and you're probably going to get decisions made in the 2020s to bring it all forward at least 10 years."

There may well be some dissenting voices when EU leaders meet in Versailles later this week. They will all recognise that all these proposed changes will not come cheap.

Campaigners say that Europe's governments must ensure the very poorest are protected.

"In parallel with introducing sanctions a huge package of support must be deployed to ensure that they do not deepen Europe's ongoing energy poverty crisis and that no one has to choose between heating and eating," said Mike Davis from Global Witness, who are calling for a full oil and gas embargo on Russia.

"The need for everyone to be able to afford to heat their home must come before worries about economic growth."

The Commission will be encouraging countries to use a toolbox of measures to protect consumers, including windfall taxes on the profits of energy companies.

But while the poorest may receive some protection, in the short term there will be added pain on the price front.

"I don't see a simple way for to shield the consumers from the costs that all of this transition will imply," said Carlos Torres Diaz from Rystad.


https://www.bbc.com/news/science-environment-60664799


....


In the modern era, it has become normalized for avenues of dependency to be used as political leverage. Russia's reliance on SWIFT banking networks and global economic trade became sanctions which were used to control russia. Ukraine and the european union relying upon russia for gas were bargaining chips Putin used to gain political leverage on both.

Given how reliance and dependency can so easily be turned into leverage and methods of control. Perhaps a good design element of economies and finance is fundamentally to create structures that are as independent and stable as possible.

The united states has sought ways to reduce reliance on foreign oil for many years. Knowing that dependance could turn into political leverage later. The united states has also sought to reduce reliance on electronics, steel and 5G networks which might be produced in china for similar reasons.

However, it seems this movement has stalled of late. Should it receive more emphasis and attention? Or it is an outmoded and obsolete design paradigm better forgotten?
1213  Economy / Gambling discussion / Re: The paradox of arbitrage betting (and how to make money on it) on: March 14, 2022, 12:05:46 PM
That's a terrible way of looking at it and you're just exposing yourself to an extra 1.74% margin on the bookmaker's side. It would only ever make sense if there was some sort of promotion for placing a 3 leg multibet that would make it worthwhile, and chances are the bookmaker might see it as promotion abuse in the case.

If you place the multibet with 1 mBTC on each side, you have a chance at either 2.9 mBTC profit or 1.58 mBTC profit. You can also bet 2 mBTC on your "locks" and end up with 2.2 mBTC in profit (4.2 mBTC payout) guaranteed. However, if you'd prefer to have a chance at more profit, you could play a dice roll at 1% house edge and bet 0.62 mBTC on a 2.13x bet (for 0.7 mBTC profit). Thus, you have a 46.48% chance of ending up with 2.9 mBTC, and 53.52% chance of ending up with 1.58 mBTC.

If we assume that the market for your "arbitrage" leg was efficient, the implied vig-removed probability of each outcome is 57.82% (1.70) and 42.18% (2.33). Thus, by placing a dice roll instead of "arbitrage", you have a 4% higher chance of ending up with the larger sum of money. You could argue that you believe the 2.33 fighter has a greater chance of winning than the odds implied, but then we would be getting into value betting territory and you'd be purposely taking a stupid -EV bet on the 1.70 fighter for no reason.



I have had success with similar plays, in the past.

Here I had Demetrious Johnson arbitraged vs Henry Cejudo, thinking Cejudo had good chances of pulling the upset back in 2018.



That was a winning bet for 38 times payout, with I think 10 mBTC wagered on both sides of the action for 380 mBTC.

The other side of the arbitrage was the more conservative gamble, would have profited around 70 mBTC.

When MMA was more one dimensional, I used to hit a winning bet like this around once a month. Maybe ever other month.

Its much harder today with inside information being used more to setup non obvious mismatches.

But at one time, it worked very well.

It is an arbitrage strategy which might also be described as a hedge. Only with a more segments, greater potential profit & higher probability of failure. Multi segment hedge?
1214  Economy / Gambling discussion / Re: WSL - World Surf League - Discussion Thread - 2022 on: March 14, 2022, 11:51:13 AM
These are surfing world tour results for the last 7 years.



Brazil took home 5 out 7 world titles.

While there are many great surfers from all nations of the world.

Brazilians tend to have advantages in athleticism and paddling. They train the most and seem to have the best results from training. Which translates to surfing more heats without tiring, catching more waves and moving more in the water to get a good position and priority.

When I was a kid I surfed the north shore of hawaii. I did a few amateur surf contests. So I do know a little about the history and competition side of things.
1215  Economy / Gambling discussion / Re: WSL - World Surf League - Discussion Thread - 2022 on: March 11, 2022, 11:34:26 AM
It seems they changed the season format which traditionally ended in big waves at pipeline in hawaii.

I followed surfing but gave it up around the time Kelly Slater won his 11th world championship.

For gambling purposes I would count the number of big wave and tube riding events versus the number of small wave trick events. Surfers tend to excel in either big or small waves. Its rare to excel in both.

Brazilians are IMO training the hardest and are usually the best athletes on tour. They also have the highest win percentage AFAIK.

Neither australia nor america has had anyone emerge who can consistently put together the kind of runs brazilians can. Aside from Kelly Slater.

1216  Economy / Economics / Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report on: March 10, 2022, 03:21:25 PM
Then there's the second part about the central bank. What is that about? In Ukraine, the vast majority use banks like Privatbank and Monobank. I'm not 100% sure regarding Monobank, but I can confirm that Privatbank cards work both in Ukraine and abroad right now, and no limitations were officially set on paying by card. Regarding the limitations from the Central bank of Ukraine on foreign currencies and withdrawals, they were lifted.


That is certainly good news!

When the coup in myanmar happened in 2021. I think their banks were completely shut down for a time. Which caused many to expect something similar in ukraine. It appears russia may have opted for periodic blackouts, rather than hard blackouts as myanmar experienced. Or perhaps ukraine's internet infrastructure is more hardened than myanmar's and copes better with electronic attacks.

I think Elon Musk's starlink satellite internet service costs $500 for initial cost and $99 month afterwards. If internet connectivity and financial services go down, perhaps the richest man in the world would not mind donating some of his starlink services to ukraine. Mainstream adoption of satellite internet could be another good measure to standardize for cases of civil unrest, war and natural disasters.
1217  Economy / Economics / White House issues its executive order on cryptocurrencies on: March 10, 2022, 03:05:23 PM
Quote
The Biden White House showed off a new executive order on Wednesday regarding the regulation of cryptocurrencies. The order essentially lays out a broad strategy for how the government plans to balance consumer protection while ensuring that the United States continues to be a space for innovation in the sector.

For those in the crypto sector concerned about aggressive government intervention, the order’s language seems to signal that the Biden White House is uninterested in sweeping near-term reforms and is instead merely focused on ensuring that agencies are on the same page in researching and observing the national security implications of the crypto industry.

“The rise in digital assets creates an opportunity to reinforce American leadership in the global financial system and at the technological frontier, but also has substantial implications for consumer protection, financial stability, national security, and climate risk,” a fact sheet issued by the White House reads.

The press release lays out seven major goals of the executive order with added detail:

  • Protect U.S. Consumers, Investors, and Businesses
  • Protect U.S. and Global Financial Stability and Mitigate Systemic Risk
  • Mitigate the Illicit Finance and National Security Risks Posed by the Illicit Use of Digital Assets
  • Promote U.S. Leadership in Technology and Economic Competitiveness to Reinforce U.S. Leadership in the Global Financial System
  • Promote Equitable Access to Safe and Affordable Financial Services
  • Support Technological Advances and Ensure Responsible Development and Use of Digital Assets
  • Explore a U.S. Central Bank Digital Currency (CBDC)

While crypto investors may generally breathe a sigh of relief, fellow lawmakers like Elizabeth Warren who have been highly critical of the crypto space may be less satisfied. In recent months, Warren has criticized the industry, drawing particular attention to the environmental impacts of cryptocurrencies and the investor risks associated with lax regulation of so-called stablecoin issuers and other players in the DeFi ecosystem.

The White House’s communications regarding the EO largely seems to avoid calling out any particular coins or projectsm with the exception of noting the price volatility of Bitcoin specifically. There was no mention of particular verticals like DeFi or NFTs, either.

A particular concern among some in the crypto industry was that the potential use of cryptocurrencies by wealthy Russian elite to evade sanctions would prompt a crackdown, but one unnamed senior official on a background press call seemed to downplay this possibility. “I will say, on Russia, in particular, the use of cryptocurrency we do not think is a viable workaround to the set of financial sanctions we’ve imposed across the entire Russian economy and, in particular, to its central bank.”

A major focus of the order is formally directing several government agencies to begin researching the development of a state-backed cryptocurrency — a U.S. Central Bank Digital Currency (CBDC). “This research, along with the framework we will develop for international engagement and competitiveness, will help ensure we preserve the critical role of the United States in the global financial system,” a senior White House official said.

President Biden will sign the executive order today, the White House says.


https://techcrunch.com/2022/03/09/biden-white-house-issues-executive-order-on-cryptocurrencies/


....



With american 2022 elections on the horizon, it is possible we won't see drastic measures regarding crypto regulation until june to november 2022 and later.

Given how republican states like texas and florida trend towards crypto friendliness. While democrat states like california and new york trend towards heavy handed authoritarian measures towards crypto, resembling china. It is likely that the bitcoin voting demographic will select republican candidates over democrats.

Quote
2022 United States elections

The 2022 United States elections will be held on Tuesday, November 8, 2022. During this midterm election year, all 435 seats in the House of Representatives and 35 of the 100 seats in the Senate will be contested. Thirty-nine state and territorial gubernatorial and numerous other state and local elections will also be contested. This will be the first election affected by the redistricting that will follow the 2020 census.

https://en.wikipedia.org/wiki/2022_United_States_elections

My personal feelings on this: I'm not a fan of anything Biden has done since he was sworn in as President. The best scenario here is for him to leave crypto alone and stay as far away from it as humanly possible.

If there is a big crackdown on crypto post 2022 elections, I wonder if we could see a big uptick in capital flight, with an elevated number of americans renouncing US citizenship to migrate abroad to enjoy reduced crypto taxes and regulation.
1218  Economy / Gambling discussion / Re: 🥊 The UFC Info and Prediction Thread on: March 10, 2022, 01:07:21 PM
Tyron Woodley, Robbie Lawler and Rafael Dos Anjos are all good wrestlers.

Jorge Masvidal may have fared better against Colby's wrestling than some of those names did.

Colby also managed to take Kamaru down in their second fight, albeit briefly.

...

I hope dagestani chechens in the UFC are not banned.

Dagestan was at war with russia not long ago and in ways they may still be if rumors of russian troops abducting dagestanis off the street for interrogation are true.
1219  Economy / Economics / Ukrainians Embrace Bitcoin For Daily Purchases: Report on: March 09, 2022, 05:03:01 PM
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NYDIG’s February report highlights how Ukrainian military support continues its influx by the millions as Russian Bitcoin transactions rise.

  • $57 million have been donated for military support in Ukraine as of March 4.
  • Russian Bitcoin transactions have increased as the BTC/RUB pair trades $62 million, but it does not seem to have affected the BTC price.
  • Bitcoin is up roughly 9% for the month of February, coming back from the January dip and separating itself from other risk-on assets.

Ukrainians have embraced bitcoin for everyday purchases as its central bank cuts traditional payment rails.

NYDIG, a financial company that focuses on institutional-grade Bitcoin solutions, released its February 2022 Bitcoin Brief report discussing relevant statistics related to bitcoin as an asset, comparing it to other financial products, and diving into Bitcoin metrics in Ukraine as the Russian invasion perdures.

Speaking to cultural and geopolitical concerns, NYDIG’s report highlighted how “in just seven days, over 113,000 digital asset donations were sent directly to the government or an NGO providing support to the military.” As of March 4, the total value of donations reached $57 million, the report said.

Ukrainians have also been embracing bitcoin for everyday purchases as “the National Bank of Ukraine suspended the foreign exchange market, limited cash withdrawals, and prohibited the use of fiat currencies via digital platforms like Venmo or PayPal,” per the report.

As the invasion continues, NYDIG discussed the theories of Russian purchasing of bitcoin as a way to skirt sanctions saying, “Since the invasion began through March 4, the bitcoin / ruble pair has traded about $62 [million] in volume on Binance (Russia’s dominant crypto exchange), while the market cap of bitcoin has increased by $75 [billion].” They concluded this with, “These are not comparable numbers.”

Bitcoin was up around 9% in February, marking a deviation from the norm as other risk-on assets approached negative territory. This point was strengthened during January when bitcoin dipped along with other risk-on assets.

https://bitcoinmagazine.com/culture/ukrainians-embrace-bitcoin-for-daily-purchases-nydig-report


....


Quote
Kraken exchange is gifting $1,000 in Bitcoin to every user in Ukraine

Kraken is putting together a massive assistance package to help victims of Russia’s ongoing invasion of Ukraine, with over $10 million going straight to those who have been affected.

Clients who opened an account with Kraken before March 9, 2022 will be entitled to receive $1,000 in bitcoin, which may be withdrawn immediately from our exchange, starting tomorrow and lasting until July 1. At this time, currency conversion expenses of up to $1,000 will be waived.

“We hope to continue being able to provide critical financial services in a time of need to both our clients in Ukraine and in Russia,” said Jesse Powell, CEO of Kraken. “Cryptocurrency remains an important humanitarian tool, especially at a time when many around the world can no longer rely on traditional banks and custodians.”

As part of the effort, Kraken will also donate an amount equivalent to the total trading fees paid by Russia-based clients in the first half of 2022 to the aid package. Further, additional aid may be announced as the crisis continues to unfold.

https://news.coincu.com/71268-kraken-to-distribute-over-10-million-in-aid-to-clients-impacted-by-ukraine-crisis/



Kraken is offering $1,000 free to the first 10,000 accounts in ukraine who claim it.

Ukraine currently lacks financial payment options with the closure of services like paypal in the country. That vacuum is now being filled by ukrainians using bitcoin.

Another interesting angle to this is Elon Musk warning starlink satellite internet users to be cautious with their usage:

https://twitter.com/elonmusk/status/1499472139333746691

Apparently, starlink is the only non russian communications service in the country which still works and there are some missiles which lock onto sources of EM radiation like satellite dishes and home in to destroy them.

1220  Economy / Economics / Re: Euro and current situation on: March 09, 2022, 04:27:43 PM
The european union is structured around a format where wealthy states donate more funds to the EU than they receive, to keep cash flow negative states like greece from bankruptcy. Concerns of default in greece are highly correlated with historical worst performance of the euro as a currency, if I remember correctly.

If wealthy EU states ran into economic difficulties which prevented them from donating funds and keeping greece solvent. It is possible the EU arrangement could default on liabilities and come crashing down. As occurred when the soviet union collapsed in 1991.

In this past precedent, we can see a precedent for future danger.
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