35 Burst results for "Each Of These Individuals"
The Breakdown
A highlight from Chokepoint Across the Pond: Chase UK Says No Crypto Transactions
"We've got election season coming up, remember? And if the Dems win and Gensler comes back to the same office, he doesn't care because he has the wind at his sails. And if he loses, he also doesn't care because he's out of the job. I would expect, in other words, for every court decision that goes against the SEC to be answered not with a rational shift in policy and approach, but instead two blazing middle fingers from a bureaucrat potentially on his way out the door. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Wednesday, September 27th, and today we are talking about this crazy, strange Chase UK letter banning people from accessing crypto from their bank accounts. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find the link in the show notes or go to bit .ly slash breakdown pod. Well, friends, I have to start the show by eating some crow. In the morning yesterday, a letter started going around that people were, of course, breathlessly posting as fact long before it was confirmed, and it just did not read right to me. So much so that as more and more people started tweeting about it, I actually posted it saying, I think this letter is fake. Let me just read the whole thing to you. So it's not long, so you have a sense of why I was skeptical. The header says Chase, and it says our policy around crypto is changing. Here's what it means for you. Hi. To help keep your money safe from fraud and scams, we're changing the type of payments you can make from Chase. From 16th of October, 2023, if we think you're making a payment related to crypto assets, we'll decline it. If you'd still like to invest in crypto assets, you can try using a different bank or provider instead, but please be cautious as you may not be able to get the money back if the payment ends up being related to fraud or a scam. Please head to our website for more info about how to protect your money. We've made this decision because fraudsters are increasingly using crypto assets to steal large sums of money from people. Declining these payments is one of the ways we're help keeping you and your money safe. All the best, the Chase team. So a couple of things that really stood out to me. One was the tone in general non -professionalism of the letter. The use of the word fraudsters seemed very, very strange from an official corporate communication. This is obviously quite a colloquialism and so the idea that it was being used as a formal explanation for why a bank would be denying an entire category of payments options to its users seemed a little crazy. Continuing that questionable tone was the ending, all the best. That's how I sign off my emails. That's not how a major bank signs off its emails. Now, of course, there was also the general grossness of the policy if it were to become real, but that really wasn't even what I was thinking about initially. And yet, shockingly, it was confirmed to be real. I was wrong and somehow a bank associated with Chase had sent out that letter. Now, later in the day, it became clear that the policy was for Chase UK rather than the broader US or international banks. But even if it was only a domestic UK policy, the aggressive move still rubbed many people, perhaps most people, I would say, in the industry the wrong way. Coinbase CEO Brian Armstrong tweeted, Now, Andrew Griffith is the UK Economic Secretary to the Treasury and Minister for the City of London and Rishi Sunak is, of course, the Prime Minister who was formerly the Chancellor of the Exchequer who said while he was at that post that he wanted to make the UK a crypto hub. LightSpark CEO and former head of the Libra project at Meta, David Marcus, added, Now, UK commenters were surprisingly quiet and that's perhaps because Chase is a relatively minor player in the UK despite being a major global banking brand. Chase has, in fact, only had a presence in the UK for around two years and has less than two million customers. They're also limited to offering online services, so are, in practice, a lot closer to a fintech platform than a traditional bank. Just by way of comparison, relative to the population, Chase UK has a similar footprint to Huntington National Bank in the US. Now, if Huntington banned crypto transactions in the US, you can bet we would be chattering about it, but it wouldn't ultimately be seen as that big of a deal which perhaps explains the lack of outrage from UK crypto investors. That said, of course, Chase isn't Huntington. Regardless of whether they have a large customer base, Chase UK is still a subsidiary of the largest western bank in the world and because of that, the important part of the policy change is unpacking whether this is an idiosyncratic decision of an insignificant bank or speaks to a broader policy outlook at JPMorgan Chase. Now, the reason given in the letter for this policy change was, of course, to prevent fraud. When fielding questions from media throughout the day, a Chase spokesperson doubled down, saying, Austin Campbell rightly points out, quote, Bitcoin attorney Crypto Hat responded, Austin, eminently reasonable as he always is, responded, and other financial institutions to fight said fraud, not turtling. Now, of course, even if this policy change only affects a couple of million Brits, it still matters in the broader fight to ensure crypto investors and firms have fair access to banking services. This has, of course, been one of the biggest themes throughout this year. The pushback from the US crypto community matters in order to ensure that banks can see that these sort of blanket bans are simply not an acceptable way to deal with issues around fraudulent transactions. And for a place that said it wants to be a crypto hub, the UK in particular has had a string of larger banks rejecting crypto payments over the past year. In February, a group of CEOs from major UK banks appeared at a parliamentary hearing. Multiple CEOs said their banks were blocking crypto payments, and although they listed fraud as a major concern, they also mentioned the volatility of crypto investments. The problem became so large that the UK's Financial Conduct Authority published a report on de -banking earlier this month. The report stated that the regulator had facilitated conversations between banks and crypto firms to ensure that they would be able to open and maintain accounts. Still, some large UK banks, including NatWest, are currently refusing to service crypto firms across the board. Now, one alternative opinion came from Francis Pulio, the founder at Bull Bitcoin. He said, via video chat, and essentially interrogate them to make sure they aren't being sucked into a yield, cloud mining, or other crypto ponzis. Still, as you might imagine, even among Bitcoiners who share Francis's disgust with crypto scams, this wasn't the primary opinion out there. Indeed, by and large, the sentiment was, and this is the end -then -they -fight -you phase. So what to do? Well, some, like dGen Spartan, basically say vote with your feet. They write, but getting banks to open accounts for crypto individuals and companies is another. Just vote with your money. My crypto -friendly banks get my highest share of account. The others? Meh. Now, another response is the entrepreneurial opportunity. Rama Lawalia, the CEO of Lumida Wealth, said, Although, indeed, later he tweeted, I don't know, man. All in all, it feels a little choke pointy to me. Remember, the whole point of Operation Choke Point and why it's problematic is that it creates a scenario where government and regulators don't have to ban anything because they just make it so economically untenable and politically risky for big service providers like banks to work with crypto companies that a de facto ban is the natural response. And speaking of de facto bans, let's turn now to the intransigent SEC, a bipartisan group of House Financial Service Committee members have written to SEC chair Gary Gensler calling for the regulator to immediately approve spot Bitcoin ETF applications. Mike Flood, Tom Emmer, Willie Nickel and Richie Torres penned the letter, which asserted that, The SEC's current posture is untenable moving forward. Following the Court of Appeals decision, there is no reason to continue to deny such applications under inconsistent and discriminatory standards.
Leading Saints Podcast
A highlight from YSA Leaders in the Church
"As many of you know, we recently published three episodes from the new podcast called At the Table. This is produced by The Church of Jesus Christ of Latter -day Saints, and I had the privilege to help with this project as a consultant. After publishing the recent podcast on Leading Saints, those working at the church on this project were so impressed by the results and the feedback from the audience that they asked if we could share more episodes. So for the next three episodes of the Leading Saints podcast, we will feature the three remaining episodes for the first season of the At the Table podcast. Enjoy! And don't forget to send your feedback by taking the survey for each individual episode, which we will link in the show notes. Welcome to the At the Table podcast, a production of The Church of Jesus Christ of Latter -day Saints. On this podcast, we aim to explore how church leaders can more effectively understand and utilize the voices of young single adults in their words and stakes. You'll hear from experienced church leaders and young single adults about best practices, inspiring stories, and encouraging methods to help us all follow Jesus Christ together. My name is Kami Castrijon. I'm originally from Colombia. I was born and raised there, and I moved to the United States when I was 16. I moved to the big city of New York, and that's where I joined the church. And then soon after, I served my mission in Riverside, California. Then after my mission, I moved to Utah, and I've been here ever since. I love dancing, especially salsa, hiking, baking, and I am thrilled to be part of this amazing podcast, At the Table. I'm Jared Pearson, and I have the pleasure to be a co -host on the At the Table podcast. I'm currently in Provo, Utah, but I was born and raised in Livermore, California, right outside San Francisco, California. I ended up serving my mission in New Hampshire, the New Hampshire Manchester Mission, and some of my favorite things are playing pickleball, tennis, or staying inside playing some board games or reading books as well. And I'm just really excited to be part of this.
CoinDesk Podcast Network
A highlight from MONEY REIMAGINED: Breaking Down Barriers to Crypto Adoption | Insights from Jan Van Eck and Matt Hougan
"You're listening to Coindesk's Money Reimagined with Michael Casey and Sheila Warren. Hello and welcome to another edition of Money Reimagined. I'm Michael Casey. Listen to us weekly on the Coindesk podcast network or wherever you get your podcasts. We would love to hear from coindesk .com. Subject line Money Reimagined. Sheila is out this week so it's me on my own but what I'm bringing to you are recordings from an interview I did earlier this month with two leaders in fund management, both of whom have significant interests in crypto. One is Jan Van Eck, the CEO of Van Eck funds and the other is Matt Hogan, chief investment officer at Bitwise Asset Management. Van Eck and Bitwise have both filed applications with for Bitcoin. The question I wanted to put to you guys, and I'll go to you first, Jan, is I've been covering this space for 10 years now. And I think we all thought there may be some tipping point moment when the world would suddenly embrace this. And certainly there's been some incredible growth, both in terms of prices and activity and development, phenomenal growth. But at the same time, it always feels like, no, it's not yet there. So what is the single most important barrier that you see toward wider adoption of crypto? Sure. Thank you. I really break it down into, are you talking about crypto as an investment, as an asset class that should be in people's portfolios, or as a technology to be adopted? And I use this example of the relational database, which was a big breakthrough in the architecture of databases 50 years ago or more. And it created a lot more productivity, almost like AI is doing with technology today. But who cares? It wasn't investable, right? It was a nice technology, but it wasn't investable. So I'll start with the investable aspect of it. And I think that since 2017, I firmly believe that Bitcoin is a store of value alternative to gold. But I also say it's sort of like an eight -year -old child. It's going through evolution and adoption, even this year, with the ordinals kind of break through for a while and sort of transaction fees being a thing in Bitcoin, right? It's evolving, it's code, it's kind of living. And I think there's a lot of investor types that haven't adopted it yet. And that's what I see kind of going forward in the future, whether it's probably frontier countries adopting it more, maybe even formally through their central banks or something like that. I think that's foreseeable. I don't see the German central bank or the central bank buying it anytime soon, but it's possible. One of my colleagues pointed out, I think you all did a survey of, sorry, this is a long answer, but yeah, Coindesk did a survey, I think, of perceptions globally of crypto and there was a big break between EM and I guess specifically it was energy usage. It being friendlier for energy usage was the majority view in the emerging markets and in the developed markets, it wasn't that, it was the opposite. So anyway, I see Bitcoin as kind of going through cycles and gradually getting more investor adoption, the ETF aside. So let me stop there and give it to my colleague, Matt. Thanks John. I agree. And I like that separation of investment case versus sort of maybe real world utility. I would add on the investment case, I think it's already there. I agree. It's a digital alternative to gold. And so the people who are holding it are using it for its use case. And I think the barrier to mainstream adoption really is the ETF. I know we'll talk about that more later, but I think if you look back at gold, it was the ETF that brought it into the mainstream. There were a few gold funds before the ETF. Van Eck ran one of the longest running, maybe the longest running, a phenomenal fund, but it really wasn't mainstream until we had an ETF. And I think that will be the tipping point. On real world use cases, if you look at like the Ethereum ecosystem, I actually think we surmounted one of the major hurdles over the last two years. I think what stopped the NFT boom and the DeFi boom was actually the rise in transaction costs as much as anything else. I think there was not enough throughput in that ecosystem to allow it to go mainstream. And I think the development of layer twos have allowed it. I think that's necessary, but not sufficient. So there's still additional barriers, there are regulatory barriers, there are design use case barriers, but I actually think that throughput question was the biggest one and we surmounted it. We just haven't seen the fruits of it because of these other steps that we need to take as well. Okay. So there's actually both of those answers, some things I want to dive into a little bit here. The first one is like this idea of it being gold. And I think in a way, I think maybe you can read from it slightly differently because Jan, you're talking, this is what its use case is, but there is still some evolution in a way that Bitcoin needs to go into. What I think is fascinating about that is like, okay, gold isn't going to evolve. It is just gold. It's in the ground, right? But there is this Bitcoin is code, but it's also a community. It's a living, breathing ecosystem of human beings, which makes it sort of unique. And so therefore, like, you know, how it evolves into being recognized for being the status. Is there an educational component to this, for example? Like, is it important that people kind of get in their heads? We can all use the digital gold analogy, but even getting there requires an understanding about why this actually does do that. Well, let me, this is Jan. I am going to pick a fight with you on the gold side because the use of gold as an investment has changed dramatically over the last 100 years. So even if you look at the history of our company, VanEck, the reason we started our first gold fund as a gold mining fund is it was illegal to own gold in 1968. So you see both Bitcoin and gold being affected not just sort of by securities regulation, but much bigger political, debates. even geopolitical But if you go back to before FDR, right, gold was the underpinning of central banks globally with the idea of trying to reduce currency volatility so that there would be more global trade and global wealth. But then they moved to basically away from the gold system. FDR did when he wanted to spend more money during World War II. Anyway, so, you know, gold has been in and out. And now more recently, central banks around the central banks because they don't trust the U .S. to hold their dollars anymore. Okay, so maybe that's a little historical quibble, but I do think that the role changes and I think it will change with Bitcoin going forward as well, just sticking to Bitcoin. It still sounds to me as if that is a discussion about the external factors, right, i .e., regulatory models, whatever, where governments stand. And all of that is maybe what the composition of what gold is and what a secure, uncorrelated investment needs to be is all contingent upon what is actually happening in that geopolitical circle. So in some respects, Matt, it gets back to your point about like, we're still sitting here waiting for the regulators to make a decision about an ETF or whatever. Yeah, I do think we are. I wanna hit one more thing on the gold thing and then I'll get to that because I think it's really important. There is this perception that gold has been the same for 5 ,000 years, completely wrong. Most people's perceptions about gold are untrue. We went off the gold standard in the early 1970s and people didn't know what gold was, right? They were figuring out what its role in the world was. Coincidentally, or maybe not coincidentally, that was the single best decade to be invested in gold. That was a phenomenal time. When stores of value move from uncertainty to established is when they accrue a lot of value. And that's what's happening in Bitcoin. I think there's some direct analogies to gold. I'd also add gold is a lot more volatile than people give it credit for. People think of it as this steady eddy. It has big swings up and down 20, 30 % a year. A store of value doesn't have to be day to day, unvolatile to be useful. It has to hold value or accrue value over long periods of time. And I think people discredit Bitcoin because they misunderstand gold a little bit. Just to add a comment on Bitcoin before we get off of that, gold shares, to your point, like Bitcoin miners fell 90 % from 2011 to their lows in 2016. I mean, you don't get worse than that, right, in terms of volatility. And that's a part of the ecosystem. It's not bullion, but still, I completely agree with you. So I just wanted to add that. I do think also, and I really want to push you, Matt, on this, that we have a global view of regulation of Bitcoin, right, because China has really taken its foot off the brake over the last year. And I think that's, you know, I call it the country the size of the United States. I think that's super important. Yeah, I think that's really important, too. I actually agree. And I think that's been going on for the last decade. It's sort of like a blanket that won't cover the whole world. And when somebody pulls it, then another government's like, oh, maybe we have an opportunity. I think that's what we saw in China with the U .S. being more restrictive, and then Hong Kong saying, well, what if we aggressively banked gold? Maybe there's an economic opportunity there. And I think it's sort of anti -fragile in that sense. Can I just punch down, maybe we're going to move to the technology side, but I just want to punch down on Bitcoin, because I think it, as an investment, is potentially relevant to everyone's portfolios here at this conference. I mean, you may not like, there are investors like Warren Buffett that will never invest in gold and would never invest in Bitcoin. But for a lot of people, the biggest risk out there, I would say, macro risk, is U .S. federal budget deficit. And I don't know of a better hedge than gold or Bitcoin. So maybe that risk doesn't come to fruition in our lifetimes, but it has got to be an alternative that people think of regardless of everything else in crypto. Yeah. Jan and I are going to keep going back and forth. I would add, it doesn't have to come to fruition for gold to be a good, for Bitcoin to be a good investment. It's an insurance against that potentiality. And if you're a wealthy individual, that's one of the biggest risks to your long term wealth and holding that insurance policy regardless of the outlook. Last thing I would add is we've come a long way. The other mistake people make when looking at Bitcoin regulation is like evaluating us today versus a year ago. If you evaluate us today versus 10 years ago, massive progress, even today versus five years ago. Look at the conversation in Congress today around crypto versus where it was two or three years ago. People need to relax a little, take the long view, and they'll probably have a better outlook for their long term investment.
Thinking Crypto News & Interviews
A highlight from Ron Hammond Interview - Crypto Regulation News! SEC Gary Gensler Hearing, FTX Trial, Crypto Bills, Coinbase, Stablecoin Regulation
"Last time he spoke in front of the House Finance Service Committee, he kept saying multiple times, we have not lost a court case on crypto at all. We have brought several actions. And again, remind you, they call settlements wins. And so in their case, they were. They had won every single court case. But now that talking point is really faded because, as you mentioned, the Ripple's case, the Grayscale case, there's also ones like the Coinbase suit going on right now. This content is brought to you by Link2, which makes private equity investment easy. Link2 is a great platform that allows you to get equity in companies before they go public, before they do an IPO. Within their portfolio includes crypto companies, AI companies, and fintech companies. Some of the crypto companies you may recognize include Circle, Ripple, Chainalysis, Ledger, Dapper Labs, and many more. If you'd like to learn more about Link2, please visit the link in the description. Welcome back to the Thinking Crypto podcast, your home for cryptocurrency news and interviews. With me today is Ron Hammond, who's director of government relations at the Blockchain Association. Ron, great to have you back on. Thanks for having me. Always a pleasure. Ron, it's going to be a busy week. It's already a busy week here in DC. Tomorrow is, of course, the hearing with chairman of the SEC, Gary Gensler. Tell us about that and what can we expect. Definitely. For those who may not know, Gary Gensler, the chair of the SEC, is going to be testifying in front of the House Financial Services Committee for the second time this year. That's a really big deal because, to remind you, last year, they barely saw him at all in that committee when the Democrats had control. But if the Republicans can control, they want to exercise oversight of the SEC as much as possible. And again, it's pretty typical, though, for the opposite party to try to put the screws on to the party that has the White House. But in this case, a lot has happened, both in crypto, but also just generally, that it's going to get a lot of flack for Gary Gensler, whether it be on private funds, ESG. And again, crypto will definitely come up a lot after talking to several folks on the House side. He recently testified, though, in front of Senate Banking two weeks ago, and we didn't get too much out of that candidly. We saw a couple of questions from Senator Hagerty from Tennessee on the issues of promethium, for example, and Bitcoin ETF. We also saw some questions from Senator Lummis on SAB 121, which is more crypto accounting standards, and how do you custody actual crypto for banks. So I think we're going to see a lot more hard -hitting points from the House, especially on the Republican side. But I'd also like to caveat, as well, that the shutdown approaching, a lot of Democrats are going to use their time to hit the Republicans. It's just standard politics here. The Republicans are the ones in the House that are really slowing things down, unfortunately, when it comes to funding the government. So Democrat, any for the most part, is going to utilize their five minutes to not really talk about Gary Gensler, but talk about the Republicans shutting down the government. Because again, that's a major, major thing here. As much as crypto is big for us, the macro of all of the shutdown has a lot of implications. So we won't see crypto come up too much, but after talking to a couple offices, it does seem like we're going to have some definitely hard -hitting questions, very similar to what we saw earlier this year in the House. Yeah, and to your point of, you know, things have certainly changed since the last time he appeared, because you had the Ripple lawsuit decision, you had the Grayscale decision, where Grayscale won that, Ripple won a big chunk of theirs as well. And the Prometheum details are more about what Prometheum is and what they're up to. So do you think there's going to be some hard -hitting questions around that, those cases and those things that happened? Definitely. So if you recall, last time he spoke in front of the House Financial Services Committee, he kept saying multiple times, we have not lost a court case on crypto at all. We have brought several actions. And again, remind you, they call settlements wins. And so in their case, they were. They had won every single court case. But now that talking point is really faded because, as you mentioned, the Ripple case, the Grayscale case, there's also ones like the Coinbase suit going on right now. That's got a lot more attention. Actually, it looks a lot better for Coinbase post those decisions. And so he can't rely back on the courts here or say that, hey, look, I'm winning in all these court cases. And actually, especially in the Grayscale case, he lost 3 -0. And two of those judges were Democrat appointees and they're based here in D .C. And so I think that having that set the tone of like, look, you are really overextending here and you're losing in the courts, not by a small margin, by unanimous margin sometimes. And it's just not crypto. You are pushing the balance elsewhere where other industries like ESG or like private equity are seeing these wins and saying, you know what? I think we're going to actually have a chance to win against the SC as well. So like the ETF situation where crypto really just goes out ahead and fights a lot of these fires for more traditional finance. And then those folks kind of benefit from crypto's push. I think we're seeing some of that happening now with the Grayscale case and Ripple case and Coinbase case empowering other industries who feel like they are also having overreach from the SEC saying, you know what? I think we have actually a case here when we can actually win the courts. So I think it's going to be a major theme of this hearing going forward. But also there's going to be several other questions to your point about Prometheum. That was a major issue for that committee, which had Erin Caplan in front of that committee just a couple of months ago. And they reiterate all the talking points, securities laws are clear. The SEC gave us a way to work forward and move things forward. But that argument really fell apart pretty quickly. And we're seeing that in this case, that the Prometheum line that there is a pathway forward registration, there is a way to comply, just doesn't hold water. And so I'm pretty sure we'll see some members of Congress tighten the screws a little bit there because it's been really more of a black box, the SEC, of how this process went. Caplan just kept saying that we actually kept working the SEC and they were clear, but that has yet to even show itself. So I think there'll be a major other theme for this hearing as well. Now you mentioned Coinbase and everyone's looking at that lawsuit. There was also news reported, I think you mentioned it, where Coinbase CEO Brian Armstrong will be on the Hill. They've also launched an education campaign around crypto. Tell us about that. Yeah, Coinbase has been a godsend, candidly. Again, we used to have only about five or six lobbyists during the infrastructure fight. And again, we're going up against the banks who have over 150 plus lobbyists. We have going against other agencies or other groups that have way more funding. But Coinbase really has stepped up and said, look, the fights here in DC, we are committed to the United States and we're committed to resources here in the United States and DC to educate Congress, to educate regulators, and to showcase in DC why crypto is important for the future of the United States. And so they're having a huge Hill day tomorrow, actually. Again, it lines up not on purpose at all with Kerry Gensler testifying and of course also the shutdown too. But they're going to be having a whole set of presentations for Hill staff and members of Congress to learn from founders. It's not just Coinbase itself. They're also bringing in other founders from other companies and having a whole demo day, a Hill day, you can say, to educate various offices. And so I think it's really important to have. We're all seeing a lot of other folks from the industry come down. So it's going to be quite the crypto week here in DC. Of course, bad timing with the shutdown, but no one can really plan it like that. So we're really excited to see how that plays out, especially with all the heat recently more moving to AI in terms of interest, but also scrutiny. I think it's good to have more adults in the room and say, hey, look, crypto was the AI about one or two years ago. We're still here. We're fighting a lot of big battles. We need Congress's help to move the needle. But at the same time, let's show you why this is important and why this technology needs to be in America and not be based elsewhere. Because unfortunately, we're seeing a lot of folks migrate over to London, migrate over to the EU. And Coinbase is really taking a strategic stand saying, we're here to stay. We're here to comply with the rules, but we also need some action from Congress. So we'll see how that goes. Sure. Yeah, that's really great that they're doing that. And education advocacy are certainly key. And speaking of legislation and regulations, obviously, we had the market structure bill get marked up in the house. You also have the stable coin bill. What's the latest with those and the next steps? I know the shutdown is probably delaying a lot of things. What are the latest on those items? Yeah, so we were kind of expecting by October timeframe to have a vote on the stable coin bill and the market structure bill. There are other crypto bills as well that passed out of the house financial service committee, but those are the two main big ones. And so the plan was, hopefully, was after this whole shutdown drama that we would have a vote probably in October, but it's looking more like November now. And again, our message to folks is the closer we get to that 2024 election, we're almost a year out, all of a sudden, all bipartisan politics goes away and folks start retreating back to their bases. And it's my team versus your team. And that's when everything grinds to a halt in DC. We're already seeing that right now a little bit with the shutdown where folks are saying it's my team versus your team, but the Republicans are a lot more splintered on their teams. And so we want to make sure that we get these bills pushed out of the house on a good bipartisan basis and then showcase to the Senate why it's important to take up this legislation. Now, there are been some rumors going around recently. Again, Politico report on it, Punchbowl report on it recently, too, that Patrick Henry gave an interview saying, look, the Senate Bank Committee, my Senate counterpart, they're doing completely different things than we're doing in the house. We're focusing on crypto and capital formation and data privacy. They're more focused on marijuana banking, exec compensation, and banking regs. So we are in two different camps on two major different issues. But if we were able to make a trade of some sort, the priorities that Sherrod Brown, who's running for reelection in deep red Ohio, who's going to need all the help he can get, would at least his case to voters saying, look, I'm actually working on this committee that traditionally has not passed that many bills. Mind you, again, they haven't passed a bill, except for this year, for four years before that. And that's during his time as well as Republicans in the chair time. It's crazy. And so in order for this to move the needle, they have to have a trade. And I think that's what's really important to say. If this trade were to happen, a lot does have to happen. But this does provide a pathway potentially for crypto legislation to move forward to the president's desk. Again, a lot has to happen. A lot can mess this up. But this isn't one of the first few times we're seeing kind of a light at the end of the tunnel. And we're really excited by it now again. But we have to have a lot of education because the Senate has not really given too much thought to this issue besides a couple handful of really powerful champions. Yeah, boy, fingers crossed, toes crossed, everything, hoping they can get something through the House and then we can go through the Senate. Boy, I'm hoping something happens by early next year before the madness of the election cycle. Now, there's also the trial for Sam Beckman Fried and the whole FTX debacle. In addition, there's been new updates around Sam Beckman Fried's parents and how money was moved to his aunt and Stanford University and much more. What do you expect to happen in October with this trial? So the main issue that we're going to have here in D .C. is just the noise. A lot of people are going to be talking about the SPF trial. It does have a huge media attention, for better or for worse. And again, we've really at least made sure we tell folks in D .C., again, this is not a crypto problem. This is a complete scammer just using newer technology. But guess what? Same old playbook as we've seen with Madoff and others. But there is concern that there are, at least in the case of the House, for example, we're voting on these big bills. FTX came up as a reason to support the bill, as a reason also to oppose the bill. Some folks say, look, there's no coming of a customer funds. That's what FTX did. And this bill bans that. On the other end, they're saying, you know, well, this legitimizes the crypto market. So this could potentially make more FTXs come up down the road. And so we've seen FTX kind of being pulled in two different directions when it comes to supporting or opposing legislation. And so our concern is the 300 plus members of Congress who have not sat in a crypto hearing who may not even know what Bitcoin or Ethereum is, are they going to listen to the headlines and say, look, actually, SPF is all crypto, which we all know it's not the case. Or they're going to say, SPF did this fraud. That's why we need to pass legislation to make sure this doesn't happen again. And so we're trying to really thread that needle. Of course, you know, we still know everything is going to come out through the trial. There could be some regulatory implications. Again, the campaign donations is a major factor and a major reason why a lot of folks in Congress are a lot more put back by crypto and kind of staying away on the sidelines because they don't get burned again. But as we're seeing kind of recently with the indictment with Senator Menendez recently from New Jersey, some members of the Senate took money from his PAC. And so there's a lot of, you know, just it doesn't matter if you're in crypto, doesn't matter if you're a Singh Senator, there's a lot of issues when it comes to campaign financing as a whole. And a lot of folks are on their toes here. But I think, you know, we want to make sure that we showcase it. Folks, SPF kind of went abroad and tried to really railroad the industry here in D .C. by trying to screw DeFi with his legislation and trying to protect his fraud and scam. Let's make sure it doesn't happen again. Let's put some rules on the road because, yes, SEC is not providing that right now. They haven't for years. And so it's time for Congress to act. So we'll see how that makes the dynamics. I'm sure, again, there'll be a lot of D .C. ties and connections with that court case. So if there's anything damning, we'll soon find out. But our hope is that this actually encourages Congress to act rather than sit on the sidelines saying, no, we're good. Crypto is kind of all SPF, FTX. And what do you think about the dynamic of and I don't know if this is going to be discussed in the trial at all, but Sam Beckman Fried and FTX officials met with the SEC many times. These are confirmed things on the calendar. I believe Sam met with Gary Gensler, according to some calendar updates. Does that play a factor at all? Because obviously we don't know what was discussed and what was the agenda items. But would that bring any pressure on Gary Gensler? Like you met with this guy. Yeah. He said in the New York Times article back in December that he met with SPF, I think it was twice actually, SPF and Gensler personally. But again, also remind you, it's a big organization. SPF was in D .C., more than any CEO in any industry I've seen in my time in D .C. But at the same front, staff meet all the time too. I mean, it wasn't just SPF. He had a whole team of staff that helped out on this front, both at the CFTC, at the SEC and of course with Congress as well. And so Gensler said again explicitly that he met with SPF twice. But I think it'd be good to know, look, how many times does your staff interact? How long do those conversations go? What do they lead to? Because there were some rumors swirling around that FTX is going to get a pass of sorts. And again, those are rumors. We have not had confirmation of that. But the one thing about the court case is that it's going to bring all this to light. So if there's anyone that's saying anything half -truths here or they're trying to protect their character or protect their image, it could really bite them if they have been lying to the press or they've been getting half -truths here. And so if I were to chair Gensler, this likely will come up in tomorrow's hearing. The question is like, look, it's going to come out. The truth will come out. We just want to make sure you're shored up here because it's going to be really bad for you on top of all the other things that have been happening in the courts if you've been caught potentially lying here. And again, I don't see any reason why he would in this situation, but I think the focus should be also not just on SPF and Garrett Gensler, but where do the staffs and the senior level execs and regulators also meet from FTX and the SEC? Hmm. I'm very curious to get those details. Now, speaking of FTX, obviously with the relation with Binance, and I forgot to ask you this earlier, the judge recently said it blocked the SEC from conducting further discovery, if I'm not mistaken, with Binance US. Have you heard anything about that? Not as much, at least in the DC front, but at least when it comes to the Binance situation as a whole, there's still that looming DOJ investigation that a lot of folks in DC are waiting for that shoe to drop. Again, there's various rumors of why that DOJ lawsuit hasn't dropped. There have been confirmation reports of central sanction evasion violations, as well as money laundering violations by Binance and the parent company, not Binance US to my knowledge, but Binance. What is the relationship though between Binance US and Binance? Is that there much cohesion there or is there actually a pretty separate line between those two entities? So one thing's for sure though, a lot of folks in DC or in the early of 2023 are hearing a lot more from Binance. They were definitely hitting DC a lot more, trying to get their narrative out. And I think the mounting allegations are pretty damning. And we've seen a lot of folks who were in DC for Binance trying to deliver that message. They're not here anymore. It was a very short stint for them. So whether that be for the company having financial problems, whether it be more of the regulatory issues, that's unclear at the moment. I would lean more to the regulatory issues, but I think it's all going to come more to light as time goes on, but it's pretty bad. So we'll see exactly how Binance recovers from this, if at all. But at least here in DC, the folks that they had speaking, they largely aren't here anymore. Wow. And final item here, obviously you got the Gensler hearing tomorrow with the House Financial Services Committee. Is there any other major hearings for the remainder of the year that we should be aware of? Not at the moment, at least in terms of big ones. We are seeing some small hearings, rumors coming up right now for more of Senate banking. Again, if they do consider crypto legislation, they've only had one major crypto hearing so far this year, whereas the House has had over 13. But again, like I mentioned earlier, that's just two separate priorities for two separate chairs. But if this trade were to happen, I think I'd just keep an eye on Senate banking. They just had their first AI hearing last week. And as they kind of get more into the AI issues and tech issues in finance, that's going to eventually loop in crypto more and more. So I think we'll keep an eye on Senate banking. And then finally, if we are looking for those votes happening on the House floor for the stablecoin bill, as well as the market structure bill, I probably keep a little eye on the House as well. I guess I think lastly, I'll say now, too, is tax issues. We've been talking a lot about securities law, commodities law for quite some time. But tax issues are really percolating to the surface here. Senate Finance, which is Ron Wyden, who's a big champion for crypto, Democrat side, as well as Mike Crapo from Idaho, they actually put a request out to the industry and another stakeholder saying, look, what does taxation for crypto look like? Please help us. Who should be reporting 1099s? Who should be doing various filings and such? So that's just a request ended in early September. And so we potentially could see some action or at least some legislative hearings on what does crypto taxation look like. And I think it's a very important issue with the broker definition coming out from Treasury. There's a lot of comments going through that system right now. So we'll see where that lines up by keeping an eye on tax issues. That's going to be a major fight for quite some time. And I think it's going to be really important. It's a little nitty gritty, but it's very important for any business to operate in the United States. Yeah, absolutely. That's a big one. And I know there's been some other things happening. I think the FASB rule and with corporations being able to hold Bitcoin and things like that on their balance sheet, I believe there were some updates there. Don't have the full details, but there's certainly a need for further clarity and for individuals and institutions. Ron, always great information, man. Thank you so much. Happy to help. Thanks for having me.
The Bitboy Crypto Podcast
A highlight from Leading Edge Defi Leverage Trading! (Apex Review)
"DeFi leverage trading is the hottest thing in crypto right now, and Apex is the top tier platform to use. I'm going to tell you why. It's time to discover crypto. Apex Pro, which is currently ranked fourth in 24 -hour trading volume on CoinGecko's list of DEXs, is a multi -chain, permissionless, non -custodial, decentralized derivatives exchange, also known as a DEX. That's a lot of words, so let's break it down. Multi -chain means that Apex supports multiple blockchains, and so far, you can trade using ETH, BNB Chain, Polygon, Arbitrum, Avalanche, C -Chain or Optimism. And permissionless basically means this platform is open to anyone. No one is going to come along saying you can't trade due to where you're located or force you to complete KYC, otherwise known as that thing we all love to hate. Know your customer. It's not chicken. Giving all our personal information over to giant companies makes a lot of us feel less secure. Plus, one of the biggest benefits of crypto is privacy, so I'm always a fan of platforms that don't require KYC. If you feel the same, make sure to slam that like button and subscribe if you haven't already. You can also click the link in the description to sign up for Apex. The other great thing about Apex is that because it's non -custodial, you are in charge of your crypto. We've seen with so many exchanges plummeting during the bear market that the old adage, not your keys, not your crypto, really stands true. And finally, Apex is decentralized, meaning it isn't owned by one particular company or individual. Apex is backed by a plethora of distinguished global investors from Dragonfly Capital to Kronos to Cyber, so a lot of people in the know are excited about this exchange. Apex uses Starkware's ETH Mainnet Layer 2 scalability engine StarkX. And because most of the transactions take place on -chain, the fees on this platform tend to be much lower. It offers instant settlement, and the speeds are top notch, supporting 10 trades per second. Apex is a derivatives exchange, so let's go into what that means briefly. Derivatives are contracts between a trader and an exchange where the trader speculates on price movement without actually having to own the crypto. This is where you hear terms like short and long. A short means you expect the price of the asset to go down, and a long means the opposite. You think it will go up. And what makes this kind of trading extra attractive to traders is the possibility to trade with leverage, aka borrowing funds from the exchange so you hopefully make a bigger profit. So, say you have $100 to trade and decide to use 5X leverage. This means you would borrow $400 from the exchange and trade with 500 bucks. Your gains would be five times more than they would have been without the leverage, but any potential losses will also be five times greater. Apex offers up to 30X leverage on Bitcoin and ETH and 15X on all other assets, but I highly recommend using much lower leverage, especially if you're new. You need to be careful when doing this kind of trading because it is really easy to get liquidated if you don't know what you're doing, so have a stop loss. Remember, don't invest more than you're willing to lose. Okay, so let's get started. First, make sure you go to the correct website. You can click on our affiliate link below, so be extra cautious. Then you'll see the Bitcoin chart. At the top, you'll see the dashboard that gives you an overview, your profile, any orders, transfers, fundings, and even a community section where you can follow Apex on socials. You can also check out the leaderboard where Apex has the top traders listed, as well as ones you follow. And again, the link's in the description. Make sure to check out the Apex rewards section when you can earn for trading. And there's also a referral section where you can earn for inviting new people. And the best part is your friends will get a special offer too, which is another reason why you should click on our affiliate link in the description. You can also earn by holding Apex's native tokens, Apex and BANA. Apex grants governance rights and protocol incentivization, and right now you can earn over 15 % APY from staking it. BANA, on the other hand, is a trade to earn reward token that gives you exclusive perks. All right, now back to the charts. All right, so right here, you can see the pairs you can select. You can also take a look at the depth, funding rate, details, and risk limit. Then down below, you got positions, closed order P &L, profit and loss, active orders, conditional orders, which are waiting for the conditions to be right for the trade to close, filled orders, and the total order history. Currently, it's blank because we haven't connected our wallets yet. So head on over past the order book where you can see the current longs and shorts, as well as the oracle price of the asset, which is pulled from a bunch of external nodes. Then you can choose the blockchain you want to use and press connect your wallet. Click next, click connect, agree with the terms and conditions, then send the request to verify ownership and enable trading. Finally, you press sign and you're all done. If you don't want to connect a self -custodial wallet for some reason, you can also connect your Bybit wallet to Apex, but we aren't going to go through that in this video. Throughout the connection process, Apex may prompt you to make a username and provide your email, but you don't have to. Remember, privacy is one of their top priorities, but if you want notifications about your trades, go ahead. Then you'll see where you can place an order. You'll need to deposit funds, and for your information, you can only trade with USDC, so make sure you have some of that in your wallet. Now, Apex will allow you to open a limit, market, or conditional markets trade. A limit order basically waits for the price to come to you, and a conditional order means your trade executes when certain conditions are met. So if you think Bitcoin will plummet if it hits a certain price, you can place a conditional short. However, most people place market orders, which mean the trade will immediately execute at the current market price. That's what I use. I highly recommend taking profit and setting up a stop loss, so if you start losing money, you can stop the bleeding, and you can close your trade with either a limit or market close. Well, that's all I got for you today. Are you a fan of leverage trading? Have you tried Apex for yourself? Let us know in the comment section below. That's all from Deezy. Thanks for watching Discover Crypto. Hit that like button on your way out, and we'll see you at the top.
Crypto Banter
A highlight from Top 3 Crypto Sectors for MASSIVE Profits In 2024! (Accumulate Now)
"There are three crypto sectors which I believe are going to be the pillars of next cycle and thus I am positioning my portfolio concentrated around these three sectors. In front of you on the screen right now, you can see the historical snapshot of the market during the peak of the 2017 bull run. Take a look around, look at the top 50. How many coins here didn't end up featuring in the 2021 bull run? You've got Lisk, you've got Omizgo, you've got Stratus, BitShares, Ardor, Hyper Cash, Bytecoin etc. All these ancient relics ended up fading into oblivion come the 2021 cycle where we saw coins like Polkadot, coins like Terra, Avalanche, Solana all outperform and exhibit massive gains versus their old counterparts. So if you go into this next cycle investing in the old relics of last cycle and not addressing the current problems we have in crypto right now, I think you are in for a rude awakening come the next bull run. So instead, why not focus on the biggest problems of next cycle? Be preemptive here and start anticipating what some of the biggest upcoming trends are going to be. Then you can reverse engineer that process and start building the foundational blocks of your portfolio now setting yourself up for success in next cycle. So today I want to talk about three major verticals that I am eyeing in crypto and I'm three of the biggest sectors next cycle. I'm also going to give you coin picks from each of these sectors and give you my strategy with each individual category. Without further ado, let's get straight into the video. Now the first major sector in crypto that I think is undeniable as the driving force behind crypto's price performance and also the lifeblood of a lot of the market is simply speculation. I mean just think about it, humans are innately gamblers. The entire premise of stock market's growth over the last century has essentially been people speculating on asset prices going up in the future. Crypto is the biggest and most accessible casino in the world so when it comes to human speculation it is definitely well positioned for significant upside. Now as long as humans exist I believe that their desire to speculate will exist because humans are innately gamblers and for that reason I'm bullish on human greed. So when it comes to crypto how can you position yourself on the premise that humans will want to speculate next cycle? Well in my opinion there are really two growth verticals here when it comes to human speculation. Yes it is the most basic of the three narratives of today's video but it is also the most obvious one. Crypto's use case whether we like it or not is gambling and is speculation and for that reason you can divide this up into a gambling platforms that facilitate people's ability to speculate and two platforms like DEXs that allow people to speculate on the market specifically. So when it comes to gambling platforms I think it's undeniable like rollbit for example has been a major prominent pillar of this sector given the fact that it's been able to do over 25 million dollars of 30 -day casino revenue and as a result has burnt 5 .3 million dollars worth of rollbit tokens. This is an example of a protocol that is really primed to capture that human greed factor considering it offers a casino product, a crypto futures product and a sports revenue product. I haven't seen many other great gambling platforms in crypto launch so for today's video I think rollbit is the obvious selection here but as they start to launch and as some better products start to come out in this niche definitely gambling platforms is something I have on my horizon because as I said I'm bullish on human greed. Now if you look at rollbit's fees you can also see that comparatively it stacks up pretty well to the rest of the market with it actually generating more in the past 30 days than the blockchain Tron, the biggest DEX on Ethereum Uniswap, the Bitcoin network, it's only behind ETH and Lido in terms of revenue generation so that's a super interesting vertical. Now the other vertical in terms of capturing speculation next cycle is of course the DEXs because if you view crypto as the ultimate casino then in this world the exchanges by default become the house. Now when retail comes back volume returns, volatility returns and more importantly risk appetite returns which in my opinion it inevitably will then the DEXs and the centralized exchanges are going to be the biggest beneficiaries but due to the recent regulations surrounding centralized exchanges and due to the transformative shift we have seen over the last few months from centralized exchange trading to DEX trading I think DEXs considering this environment are going to be some of the major beneficiaries when it comes to capturing revenue from what we call the crypto casino. So I am looking to position myself in the top DEXs in the market, the top -notch products which have a clean and intuitive UI because I believe that stickiness comes from a great user experience, a diverse range of trading pairs and prompt listings of the new hottest crypto coins and products, competitive fees and strong referral programs because we know exchanges like Bybit were built around really strong referral programs and a DEX is going to need to capture that in order to fully harness its growth potential. So at the end of the day it comes down to user experience when we can get a centralized exchange like experience on a DEX then I think there is really an incentive considering crypto regulation for people to actually use these DEXs. Now what are some of the products I'm looking at? GMX clearly has been one of the leaders in this sector, it's also heavily discounted in price since its highs, this is definitely one that I've got on my list. Gains network as well is another one that I've got on my list considering the fact that it supports 64 trading pairs, they've also got forex and commodities so it's not just crypto that you can speculate on on the blockchain and there's also a bunch of other features that they offer. They give up to 150x leverage, I mean that by definition appeals to the degens, they give 250x leverage on commodities and 1000x on forex in some cases, they also support collateral deposits up to 250k and DAI is also a stablecoin supported as collateral. They also have a few interesting features like lookbacks for better execution, one click trading for a better trading experience. So in terms of current trading products that are on the market right now in the DEX form, I think G -Trade and more broadly the Gains network team are doing a really good job at pioneering this space. Now of course Gains is a partner of the show, if you do want to trade on G -Trade there is a link in the description. If you haven't yet, I think you are missing out because it's an amazing trading experience and for those that are looking for a new trading home, I think this is one of the best products on the market right now. Another DEX that I'm looking at is DYDX. These guys are going for a really novel and pretty ambitious approach to solving the DEX problem with their own chain. They did decide to leave Ethereum and launch their own chain on Cosmos, that's super bold. If it fails, it could fail spectacularly but if it pays off, it could really pay off spectacularly due to the additional composability that deploying on Cosmos gives you over deploying an EVM application. So this could be a massive success, we don't know yet but if it is, it's definitely something that I'm interested in getting exposure to. Just keep in mind that there is a big token unlock coming. I am expecting DYDX to issue some sort of big announcement to try and offset some of the sell pressure but just keep in mind that there is a bunch of sell pressure coming and you're probably going to want to DCA slowly into this one as not to take on any unnecessary risk during a bear market. Now I've got one more option for you if you're interested in this whole speculation DEX narrative and that's say network. So you don't just have to bet on the specific DEXs, you can bet on the infrastructure, the platforms that are facilitating speculation and say by default is a layer one blockchain that is specifically being built for traders because they're offering fast finality which is very important when it comes to executing trading, a twin turbo consensus mechanism which is very important for the overall performance of the network, they have a native matching engine that allows exchange teams to leverage that to build their own exchange products and also they have front running protection built into the layer one blockchain. So pretty much what you need to know is say is a blockchain built specifically for trading applications and if you want exposure to this narrative this is definitely an interesting one. Price wise it's essentially been down only since its launch but this is one that I'm looking at accumulating maybe let's say over the next six months to a year slowly accumulating to position myself in this narrative I think say is a super interesting unique bet. Okay now let's get into sector number two and that is real world assets. DeFi has a big problem right now, the interest rates across the world have increased significantly since 2021 so there's less of an incentive to stake money in DeFi yield farms. I mean back in 2021 when interest rates were essentially zero people were desperate and they were starved for yield so they were parking capital in DeFi where you could get 10 to 20 percent of your stable coins, 20 to 30 percent on your ethereum. It was amazing right? Well those days are over and now for DeFi to succeed and become sustainable it's going to need avenues to attract capital into the ecosystem and I think the number one vertical for this is real world assets so that's essentially tokenizing assets like real estate gold collectibles cars and intangible assets like equities bonds carbon credits and trade finance and bringing it on chain in the form of a token and enabling users on chain to deposit into vaults to earn yield on real life assets so if that is a property it can be divisible into a bunch of tokens offered on chain so you can essentially invest into a property instead of going through the rigmarole of investing it in real life with big barriers to entry you can take a lesser barrier to entry and divide it up into a bunch of fractions to allow people to invest and earn yield on that property on chain but bonds are another example instead of having to go through a traditional trading house and centralized entities which take huge transaction and management fees you can go straight peer -to -peer on a DeFi or crypto product which allows you to invest in things like bonds and treasury bonds so it's super interesting the real world asset space and as you can see the boston consulting group expects this space to 26x from 0 .6 trillion dollars to 16 trillion dollars by the year 2030 with their high case so their bullish case being 68 trillion dollars which is 113 x from the current market cap of real world assets so this could potentially be a whole lot of money coming into the crypto ecosystem so clearly real world assets are a massive growth vertical and this is one that i'm interested in positioning myself towards because if we do see a massive influx of tokenized assets coming on chain this could be a huge attraction for new tbl to come into the crypto market now in terms of positioning myself for real world assets there's a few ways you can do it the first way is essentially betting on individual real world asset protocols and this is probably your most direct way but it's also the riskier because even if real world assets succeed if a specific protocol fails then your investment could still go to zero the safer way but the less upside way would simply to be to invest in the blockchains the l1s the l2s that you believe in and you think are going to be home to the tokenization of assets because at the end of the day these blockchains make sequencer fees and revenue which in some cases are paid back to holders so the overall value of the chain increases however as you guys know you're not getting as much upside of course so you've kind of got to decide whether you want to go for a protocol based approach or an infrastructure based approach i like to do a little bit of both because then i can capture some of the massive upside but i can also have some safer bets to hedge against some of the protocol specific bets in terms of protocol specific players my favorite ones fracks i've talked about this a lot in the past but they're doing a lot with their v3 they've got fracks lend they're not just a real world asset protocol they've got exposure to other niches as well to hedge as well so i do like fracks as a play this is my personal favorite one in the sector make it also interesting i don't own any and i'm not planning on buying any anytime soon but this has definitely been the the leader of this narrative considering that they've been able to accrue over 600 million dollars worth of vault value thanks to their importation of treasury yields on chain so this has been a really successful one but i'm also seeing many different real estate products collectibles marketplaces and super interesting products starting to launch in the real world asset space so this is definitely one where you want to keep some capital aside and look to position yourself in this one uh over the next few months this is definitely one of the biggest growth verticals next cycle especially if we can get anywhere close to that 68 trillion dollar figure that bcg did suggest as a potential growth target by the year 2030.
Mark Levin
John Dewey, Thomas Friedman Celebrated Communist Systems
"By that I don't mean ideology, liberal arts education, you math, science, literature, history and so forth, was inculcated with a message of advancing the country through the party. Remember Friedman, Thomas about a decade and wrote a couple of columns of the New York Times celebrating the Communist Chinese system of government. At least they get things done, he said. There's not all this squabbling, you know, that you have in a republic or a democracy. The mindset was not that much different than what was seen Stalin's Russia and eventually by the so and so they've always known that you need to control two things Wilson wrote about it but he wasn't the only one. The press in the classroom that is education and public communication. You must control them, you cannot tolerate debate, it needs to be conformity. Cannot allow individuals or even a small group of individuals to challenge the orthodoxy because they're making it that much more difficult if not impossible to advance the cause. You see all that happening in this country today even Lenin. Lenin talked about this and Stalin actually wrote about it or somebody wrote about it for him that the
The Crypto Conversation
A highlight from DAIM - The Investment Advisor Dedicated to Crypto
"Hi everyone, Andy Pickering here, I'm your host and welcome to the Crypto Conversation, a Brave New Coin podcast where we talk to the people building the future in the Bitcoin, blockchain and cryptocurrency space. Hey team, we have a new sponsor here at the Crypto Conversation, BitGet, one of the world's leading copy trading cryptocurrency exchanges, yes indeed. What happens if you've got the funds to invest but you don't have the time to keep track of the market? You still want to make smart money moves? What do you do? Well, copy trading is a popular choice for beginner traders. You can shorten your learning curve by uncovering tips and strategies from more experienced traders. BitGet's copy trading platform has over 80 ,000 elite traders to choose from and 380 ,000 followers just like yourself who are already using the BitGet copy trading platform as a potential passive income stream. All it takes is one click, you can subscribe to an elite profitable strategist, set your limits, automate your orders and monitor their trades. I've got some links in the show notes below, one link will take you through to the BitGet sign up page, give you a VIP discount. So learn all about it for yourself, thanks to BitGet. And now it is on with the show. My guest today is Brian Courchene. Brian is the founder of the Newport Beach based DAIM. I believe it's one of the first US registered investment advisors dedicated to crypto. I will learn more about this today. Welcome to the show, Brian. Hey, thanks for having me, Andy. Glad to be here. Glad to have you here, Brian. Let's do what we do at the beginning of the show. Big, good if you could please introduce yourself, I really love to hear a little bit about your personal and professional backstory and the lead up to founding DAIM. Yeah, yeah. So we're here in the United States in California, specifically in Newport Beach. And where I come from in the background is I got my start on Wall Street, actually on the floor of the New York Stock Exchange. I got with a guy and started writing paper tickets and backing up their floor traders. And then I went on to be a trader in the pit there on the options side. So I was there for 13 months. And then from there, I worked at different broker dealers in New York City, specifically as a vol sales specialist. And that was great. And in 2014, I came across Bitcoin on my own research. October, I made an allocation to it. It was the first one. And from then on, I was kind of the go -to guy. Maybe nobody had a position on the floor, nobody had a position in the building. And I was a guy that people came to when they had questions about the space and this grew and grew and grew. And then in 2017, in the early part of the year, pre -ICO run -up, I had realized that there was a need for a properly licensed advisor and asset manager in the space. Everything that was out there was self -directed. Coinbase, for example, you go on Coinbase, it's all up to you to move your own money, decide what to buy, when and how, and people just needed a human help to this. And so what I realized was that there was also a larger allocation that people wanted to make to the space and they wanted to do it with someone that maybe had some kind of licensing that they could fall back on or recourse. And so I left the firm that I was working at in New York City and moved here to Newport Beach to start building this business to be the first of its kind licensed registered investment advisor in the United States to advise and manage assets for individuals. And so as fast track as that sounded, as simple as it was, it was a bit more of a challenge than that at the time when we were dealing with the regulators and getting the business approved, it took us into 2018 and for people who know prices, the price of Bitcoin had come off from the all -time highs in 2017. January 1st, it was $13 ,500. And then by the time we got into May, it was sub $10 ,000. And so the regulators kicked back a little bit saying they didn't want to license the first of its kind advisor in the space. That was kind of defeating because I'd spent quite a bit of money in my own Bitcoin to build this and get it going. But I didn't stop there. And I basically made a case with them saying, look, you got to approve this business. There's nothing like it out there that can actually help people. And I'm probably the most qualified thing you can get right now. I had the Series 4, which is an options principle. I had the Series 24, which is a compliance officer. I had owned Bitcoin again since 2014. I had the Series 65 and I said, people need help in this space. And we ended up getting the license. It was actually the next day after that phone call. May 31st, 2018. And since then now, yeah, we advise and manage crypto positions for individuals in the United States and corporations. Yeah, fantastic. So DAIM, of course, just stands for Digital Asset Investment Management. You say then that you are helping individuals with their crypto positions and allocations and maybe even their decision making. Just talk us through a little bit more about what that means, Brian. Who are the kind of different target markets or customer segments that your firm services? Yeah, so a typical client for us is generally a business owner in the United States, quite busy with what he's got going on, but wants to have an allocation to the space. Generally, something much larger than a few thousand bucks or 10 grand that somebody would on typical a exchange, Coinbase, Gemini, Kraken, they want to make a larger allocation, maybe something in the hundreds of thousands or even millions to the space. And so they get with us. Things look very familiar from kind of an onboarding standpoint to what their traditional investment advisor might look like. And then we have the license check where they can look us up on the SEC's website. And then we take them through a new client profile where we get to learn a little bit about and them we can then go with them about, okay, this is the allocation we think you should make. Maybe sometimes we've got to walk them back from being too big. And then this is the portfolio we want to put you in. And then from there, it leads to usually a transfer of some sorts from like a traditional investment management firm, Schwab, Fidelity, stuff like that. So we handle the transfer, the funds land, and then we put in place our model portfolio, which is our best thesis on the space. And then we manage their assets according to that. And we actually run that across all of our discretionary clients. So our clients, not only do they get an advisor and a manager sitting on top with a license, but also a portfolio that gets professionally managed, kind of like a fund. The difference is that we run a flat fee and we don't add the performance fee on top of it. And so from there, once they're onboarded and invested, they get 24 seven view access into the account. They get regular statements. If it's a taxable account here in the United States, we work on things like tax loss harvesting. Should that be needed? 10 99 beneficiaries. And then we go into the tax advantage accounts. So we can do things like IRAs, traditional IRAs, Roth IRAs, SEP IRAs, Roth 401ks. And then we even do a corporate 401k where a business can put in place a plan for their employees that gives them the ability to have up to 10 % in pure Bitcoin alongside traditional mutual funds. And this is something actually we're really excited about coming out of like a pilot program. And it's something we want to expand into market. Yeah, I mean, but to jump into their first thing, Brian, I guess, yeah, the idea of having a even a small allocation into people's 401k funds would be obviously a good thing for Bitcoin and presumably a good thing for individuals that do have Bitcoin in their 401ks if over time Bitcoin does appreciate. But do you see, is there a demand for this and you can see this growing over time? Yeah, so the 401k market is quite large. The addressable market is just massive and there's just nothing servicing really alternative investments. And that's where Bitcoin comes into being kind of like a liquid easier alternative investment instead of something like real estate or VC funds. And so when we put the plan out and we went and looked for pilots for this, we thought that it was going to come from mostly crypto native companies or tech startups. But what we found was quite different. We found that interest came from traditional businesses, law firms, construction companies. And when we put the plan in place, when you look at like who wants to participate and who elects for Bitcoin and how much, you actually see it's kind of the crowd that's over 40 and professional and people that you wouldn't think would be so technology native, but it's people that kind of understand like you got to take a little bit of risk and Bitcoin's been around for a while and why not go for that? Because it actually does improve the Sharpe ratio of these portfolios. And so, yeah, it's been surprising to us, which is actually a good thing, because eventually the people that are in the younger generations that are in tech startup or crypto events will get older. They'll have more money in their 401Ks and eventually they'll have the option when they're ready to participate in this. Yeah, very well said. So you said also, Brian, that you almost manage like kind of like a fund, which is DAIM's, I guess, crypto portfolio thesis. Right. So that's correct. I wonder how much of that you're prepared to talk about in terms of, I guess, what that portfolio fund breakdown in terms of crypto assets would look like. And it's notoriously hard, obviously, to beat Bitcoin just with a buy and hold strategy over a kind of long time zone. What's your approach to trying to, I guess, beat the market on behalf of your clients? Yeah, I can talk about this quite a bit. So on the structure side of it, it's set up as SMA here in the United States. Separately managed accounts. So all of our clients actually have their own accounts and the assets are not co -mingled, but we do manage them with an overlay. And that way we can get the trades done and rebalancing as needed. And the great thing about that is it gets back to us being liquid at any time, unlike having a lockup period with a fund. And so when we have that structure, then we move into being able to manage these assets quite easily and then offer our clients the liquidity that's needed. And then as the thesis, when I first started the business and we were running our model portfolio back in 2018, it was Bitcoin only. And we looked at the space as we want to have low turnover. We don't want to incur a lot of trading fees. We don't want to incur a lot of taxes in these accounts, but we also understand that being long crypto in itself is the best way to get multiples on your return. And then when you go to allocate away from Bitcoin and go to seek alpha, you got to see if you're going to have a strategic outperformance. And then what seems easy to say now, in the beginning of 2020, we had done our research on Ethereum and the upgrades that were to come, and we decided to make a 20 % allocation to Ethereum at that time from the book, which worked out really well for us. And it got to a point to where we've allocated away and Bitcoin shrunk to be a little less 60 % of our portfolio. And then we allow these assets to take course. We look at everything from a fundamental standpoint. When we do use technicals, it's really on just deploying and pulling out of positions. And so at the position we're at now, I should back up. Last year, we had closed out a majority of the Ethereum position into the upgrade and went into cash for a while, which helped us through a bit of the downturn last year and gave us capital to start redeploying at the beginning of this year. And so in our search for alpha, we haven't quite found what we like outside of Bitcoin and Ethereum. So we redeployed into Bitcoin, balanced the book 90 % Bitcoin, 10 % ETH. And now we're looking to make some strategic allocations away from both of those as we see us kind of being in the trough zone here, coming out of the bear market and entering a bull market. Yeah, fascinating. And it's interesting, Brian, that you say it's very difficult to find compelling crypto asset allocations outside of Bitcoin and Ethereum. And I suppose being so heavily overweight Bitcoin at the moment looking forward, I suppose that is probably due to the two big catalysts, two big narratives that are around Bitcoin at the moment. I'm talking, of course, of the fourth Bitcoin halving coming around March, April next year. And of course, the BlackRock's Spot Bitcoin application. So yeah, I'd love to understand just how you think about those two data points and perhaps their potential to make Bitcoin interesting again. Yeah. And there's something to touch on, too. What you started off with is looking at all the other investments outside of Bitcoin and Ethereum. And so I'll hop into that in the second half of this answer. But when it comes to the halving and the BlackRock ETF, the halving is an event that's always on the radar. And that has tend to seem price appreciation somewhat after the event. And this stuff has become well known. But what really changed was seeing BlackRock come into the space. And that was further affirmation to us that we are entering a bull market. And there are some very big players that think that there's going to be severe demand and drastic price increases in the space. And so that's another data set to us that says, okay, we don't want to be in cash anymore. We do need to be invested even though we cannot find something at the moment outside of Bitcoin and ETH. We at least want to participate in the market and be in Bitcoin because the narrative can change very quickly in this space. And so it comes to things like this, too. If you look at like key figureheads in the space and their price predictions, you got Arthur Hayes at $70 ,000. Guy Kiyosaki at $100 ,000. You've got Novogratz at $500 ,000. Kathy Woods is at $1 million. I think she might have revised her to like $1 .3 million, but the end of 2023. And so that narrative, micro strategy, acquiring more, there's just little things on the back end. And then you could see something drastic happening. And you got to be ready for that. In the next month, there could be some sort of approval for one of the Bitcoin ETFs. If that doesn't happen in January, there's actually talk that maybe multiple Bitcoin spot ETFs in the United States could get approved all at once. You have things that maybe Gary Gensler gets recalled. Like these events could happen. What we think is that the bad events have already happened. We went through that last year. We went with that with Luna. We had FTX and we had Celsius. The bad actors have been weeded out. And so any kind of regulatory stuff that comes in, we think won't have that drastic of an impact. We saw XRP do well in its case. And we think that the setup for new news and better news is on the horizon. And then you look at the liquidity on it. It's something that can vacuum very quickly to the upside. And then all that takes is the news agencies to just flip and go from doom and gloom to price appreciation. And it will show in Google and it will start to result in prices. So, yeah, that's our thoughts. And those are two big catalysts. I'd say more so the Bitcoin ETF over the halving at this point. Yeah, very well said. And yeah, you're exactly right. I mean, Bitcoin is, it doesn't seem like it now because Bitcoin really has been kind of trading in the range that it's in at the moment, just somewhere between $26 ,000 and $30 ,000, shall we say, for well, for months, really. And so it does feel like, you can call it what you want, the sort of extended bear market, the accumulation zone of the next bull market. But it is very... There's also, there's two known sellers in the market almost at a regular basis. The US government's still selling Bitcoin. And you have FTX that's starting to unload some of their Bitcoin. And so you're getting matched up with, you know, that's why you see this almost sideways slide, you know, and it's disconnect and lack of correlation is because you got these two just unloading and acquiring and just trimming. And then any news could just set this off. But the other thing is that it's possible that our government stops selling at the end of this year and takes a break. They could continue, but if they take a break, well, there's one less seller in the market. And then who knows, maybe what needs to be done in this tranche for FTX also completes as they're projected to. And then now you're relieving sell pressure. You get a Bitcoin approval in Q1 and this thing turns into a vacuum to the upside. Do you, I mean, I wonder what it's like, Brian, to be in your position, like perhaps for, I'm sure you have clients who came in perhaps during the bull market of 2021. And, you know, it's hard for people who experience their first crypto bear market. And, you know, as much as the velocity is intense on the upside, it's also pretty disquieting on the downside. What do you say to people who have sort of started with you in the good times, but now you've got to manage not only their assets through the bear market, but I suppose, you know, their expectations and emotions as well. Yeah, great question, Andy. And it brings me back to the second half of last year and just the many conversations we had with a lot of our clients and, you know, talking about the space and reassuring about our business partners and how well they're here and how good standing they're in and us. And when we onboard clients from the beginning five years ago, even through the bull market in 2021, we go over downside slides with them and we talk about, you know, bad scenarios. You know, hey, you know, how do you feel if this is going to be down 80%, right? And we have those conversations early on when there's no money at play and there's no emotions. And we make that plan and you tend to find that most people can handle it. There could be a few that say, you know, I want to exit and close out. But, you know, now that you have that conversation and it's kind of like out of the way, you can reflect back to, hey, this is the plan we put in place and this is what we're going to do. And for some of those, you know, we can do, if they're a brokerage account, I mentioned earlier, we can do tax loss harvesting. So that's a way to, you know, take these losses and offset it, you know, against future tax payments. And there's an advantage to that. And now when they stay in the game, they allow us to tax loss harvest and prices come back, you get to see some of these get back into the green and they just had a nice, you know, discount to what they're going to be paying in future taxes. And so we try to find things like that. Other things that we do too is, you know, for IRAs, we do stuff unique. We're able to stake in those. In our model portfolios performance, we've actually outperformed Bitcoin by about 30 % by strategically allocating away and pulling back. So that helps as well too, adding units to the account. And we look at this space and can say like, hey, you know, in a year where asset prices came off drastically, we had some cash because we sold earlier. So we're waiting to deploy that. We can tax loss harvest what was down and around. And we're keeping up regular communications with you guys. You know, we're tapping the street to get, you know, insight and affirmation that everybody's in good standing. And that's what really comes to good customer services, just trying to be in front of everybody and open for human communication. Because that's something that most of the businesses in the space really self -directed. I mean, there's no one to talk to in DeFi, right? You can't call any of the businesses. And even in the typical exchanges, it can be hard to have a human to talk to. And that's where we pride ourselves in being available for our clients alongside running the model portfolio. Fantastic. And talk to us, Brian, in terms of I guess the success of DAIM, your business. I'd love to understand any sort of metrics that you watch in terms of the growth in your user base, your clients, your assets under management. I assume things are ticking along and growing over time. Yeah, so when we started the business in 2018, we started off with zero clients. That's the way the regulators wanted to do it. No assets under management. And then a few regulatory audits in 2019, because they liked that we put crypto advisor and manager on there. So that slowed some growth. But then coming into the back half of 2020, we definitely caught a groove. We were able to develop some narrative and marketing in the confines of still Facebook and stuff, not allowing to have crypto advertising, but through our word of mouth and in our network and hand -to -hand discussions. And so we grew the business to over 200 accounts. And really when we look back and we analyze the business today and we look at the AUM and how it fluctuated and the number of clients, I think a lot of companies will see a drastic drawdown in AUM and they will also see a drastic drawdown in number of accounts. Now their accounts might still have a dollar value, but I mean, meaningful accounts, anything over 10 grand. Whereas we'll see that we've trimmed flat through the back half of 2021 and now are slowly increasing. And I think the temperature changed. It felt like right around March that individuals were open to getting back in the space, kind of that really bad hangover from November was behind them. And so I think things are going to get even more favorable for us.
The Breakdown
A highlight from Huobi Changes Name to HTX and Almost Immediately Gets Hacked
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Tuesday, September 22nd, and today we are talking hacks, hacks, hacks. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Well, friends, today we start this show talking about Ben Armstrong, better known as BitBoy, who was arrested last night after he won, posted to his YouTube that he was going to confront a former business partner about the Lamborghini that he said was his, two, went to said person's door and rang the doorbell, three, did this with a gun and illegal narcotics in the back of his car, along with another business and affair partner to boot, and then four live streamed himself getting arrested. Just kidding. I'm not going to talk about that ever at all. In fact, I will only say this. The crypto space gets exactly the level of influencers it deserves. So perhaps as we think about where we want to be heading into the next bull market, we might want to choose who we listen to with just a hint more discernment. Now, what we're actually going to be talking about today is the plague of this bear market. Well, outside of Gensler, of course, and that is hacks. A wave of hacks impacted crypto firms starting over the weekend. On Friday, Nansen disclosed a security breach at a third party software vendor. The attacker was able to gain access to admin rights of a Nansen account in charge of facilitating client access to the platform. Nansen claims it, quote, managed to stop the unauthorized access shortly after learning about it and launched an immediate investigation. According to Nansen, wallet funds were unaffected. All affected users had email addresses exposed, while smaller user cohorts had password hashes accessed and wallet addresses revealed. Nansen urged all users to double check emails claiming to be coming from the company and be vigilant for phishing attempts. So that was Friday. Then on Saturday, OpenSea disclosed that one of its third party vendors, quote, experienced a security incident that may have exposed information. They warned that user API keys were compromised. The company noted that the incident was not expected to impact any programs which use an OpenSea API key, but that external parties using exposed keys could experience rate and usage limits. OpenSea plans on shutting down existing keys by next Monday and asked users to rotate their keys. A third exploit was disclosed early on Monday morning. Mixin Network, which is a nominally decentralized wallet service, said it lost $200 million in customer assets during an attack early on Saturday morning. Crypto developer Lawrence Day at Function Zero writes, Also, respectfully, how are you losing $200 million from a cloud breach? So this company Mixin was founded in 2017 and had nearly $400 million in protocol funds across 48 chains. The service allows users to send digital assets assigned to phone numbers and its biggest market appears to be Hong Kong. Now the firm said that it can guarantee the safety of around half of user assets, but that guarantee seems to be in the form of a corporate backstop rather than the product of successful threat mitigation. During a livestream on Monday addressing the attack, Mixin founder Feng Xiaodong said, No matter what your assets are, whether it's Bitcoin or Ethereum, we will ensure that half of it is unaffected. We're trying to find a way to recover the compromised money, but that is very difficult. For the other half of the assets, Mixin is considering offering what they are calling bond tokens for users to claim. The firm would later buy back the tokens, making them similar to other token -based recovery schemes seen in the past during events like the Bitfinex hack. A security firm called Slowmist is involved in the investigation and stated that the incident occurred when a cloud service provider database was attacked. Now if this feels like just the latest in a string of big hacks, that's because it is. In 2022, we had the record of $3 .1 billion in funds lost from hacks. And estimates this year include TRMLab saying that $400 million was stolen in Q1, Immunify saying that $700 million was lost in the first half of the year, and then just in Q3 we've had a 126 multi -chain hack in July, a $61 .7 million market -based protocol exploit of Curve Finance in July, $41 .3 million hacked from Stake .com in September, and another July hack of $37 million at CoinsPaid. So from estimates, it looks like this might be the largest hack of the year, roughly the same size as Euler in March. Still, even though it wasn't the biggest, the most high -profile hack of the weekend was disclosed on Monday as well, and that was from HTX. HTX, formerly known as Huobi, suffered the loss of 5 ,000 ETH worth around $8 million on Sunday evening. Justin Sun claimed in a Twitter thread that, quote, HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues. Sun added that, quote, all user assets are SAFU and the platform is operating completely normally. Now, in addition to disclosing the loss, Sun downplayed the impact of the attack, stating that, quote, $8 million represents a relatively small sum in comparison to the $3 billion worth of assets held by our users. It also amounts to just two weeks of revenue for the HTX platform. Sun disclosed the wallet address of the hacker and added, We are willing to offer 5 % of the stolen amount, $400 ,000 USD, as a white hat reward to encourage the hacker to return the stolen funds. If the hacker returns the funds, we will also hire them as a security white hat advisor for HTX. However, they said, if the funds are not returned within seven days, we will transfer the information to law enforcement authorities for further action and to prosecute the hacker. In an on -chain message to the hacker, HTX claimed to have discovered their, quote, true identity. Now, according to Arkham Analytics, the attack affected an HTX hot wallet, which was created in March. Since then, the wallet has received $500 million in deposits from Binance, and on -chain analysts confirmed that funds have now been migrated to a new wallet. Now, there were a lot of comments relating to the name change of this exchange. Crypto Kaleo writes, Huobi changes its name to HTX and gets hacked for $8 million in the first month? Coincidence or tempting fate? Lawrence Day again said, I'm sorry, but renaming Huobi to HTX and then immediately losing millions of dollars is so effing funny that I might have a stroke. Even Binance's CZ said, A week after you rename your exchange after FTX... Jokes aside, our security team will help in tracking hacker funds in all cases where we can. Now, in addition to just the jokes about the HTX name, there are lots of questions floating around about Huobi solvency. To get a sense of some of those theories, go check out Adam Cochran's account. It's a little bit out of the scope of this particular episode, but it's obviously something that we're watching closely. Now it's unclear at this stage whether these attacks had any sort of links, but the small amount of detail available does show some common features. The first three hacks all blamed a third party service provider. While the provider was not named, Nansen did urge them to disclose the security breach. These attacks come just weeks after crypto custody firm Fortress Trust suffered a $15 million attack, which was also related to a security failure at a third party cloud provider called Retool. In that attack, an employee at the software provider was the victim of a phishing attack. The attacker used an AI -synthesized voice clone of an IT support worker to replicate the employee's credentials to access Retool's systems. In their write -up of that attack, Retool said that 27 customer accounts were compromised. All 27 were crypto companies. So the method of attack here, which uses a combination of social engineering and a bypassing of security measures, also bears a striking resemblance to the write -ups of the recent cyber attack on MGM and Caesars casinos. The casino's systems were hacked two weeks ago with customer and corporate data compromised. Postmortems of the attack claimed that hackers used a voice replication of IT workers to gain access. Identity management firm Okta confirmed that the casinos had been using their systems to credential employees. In an August blog post, Okta said that their customers were seeing, quote, consistent pattern of social engineering attacks against their IT service desk personnel, in which the caller's strategy was to convince service desk personnel to reset all multi -factor authentication factors enrolled by highly privileged users. The casino attacks were attributed to a threat actor known as Scattered Spider using malicious software developed by Alfie or Black Cat. Now if these attacks are all part of the same cybercrime spree, it could speak to a group of hackers going after high -value targets like crypto firms. The vulnerability seems hard to address as it involves security training for employees at third -party software providers. And one of the implications is, if these kind of attacks become a systemic threat to the industry, it could mean more crypto firms need to bring sensitive software in -house. That higher barrier to secure operations could make it more difficult for smaller startups to compete in the industry. Now of course for any of you who are listening to the AI breakdown, you'll also recognize that this is not going to be a problem that's unique to the crypto industry. The casino attacks speak to that as well, but the reality is that voice cloning technology is incredibly advanced and just getting more so all the time. Individuals and companies are going to need to develop entirely different modes of operation that recognize the fact that you simply can't trust a voice on the other line of a call anymore. Now when it comes to the impact of these hacks on the industry outside of just the ramifications for the people who lost money themselves, it's hard exactly to know what the real impact is. On the one hand, it certainly lends to a perception of immaturity overall, but at the same time, when it comes to the geopolitics and regulation of crypto, the hacks that are most important to keep an eye on are those that have some sort of geostrategic ramifications, particularly those emanating from the Lazarus Group in North Korea. Still, being this deep into a bear market and trying to match all -time records for hacks is not necessarily the place we want to be overall. The one other story that I wanted to cover on today's show is a bit of a dust -up around the Celsius restructuring. In short, the Celsius bankruptcy could be coming to a close after creditors have voted in favor of the current recovery plan. 98 % of creditors gave the thumbs up to a plan which would see the sale of assets to crypto consortium Fahrenheit Holdings. The acquiring group includes Errington Capital and miner US Bitcoin Corp. Fahrenheit plans to retain and operate mining equipment owned by Celsius under a new corporate structure. The new company also plans to stake Ethereum and monetize other Celsius assets. Some large creditors will receive equity in this new company. And in addition, another $2 billion in liquid crypto will be distributed to creditors. Overall, the plan is projected to provide a 76 -85 % recovery. Now one remaining snag in the plan is an objection from the SEC. The regulator filed its objection last Friday to express concerns with Coinbase's involvement in the process. Celsius receivers plan to use Coinbase as an intermediary to distribute crypto to creditors. The SEC claimed the agreement could require Coinbase to The SEC filing claimed that However, this court should not be asked to approve a deal where their material terms are missing or inconsistent. The regulator also appears concerned about an additional agreement with Coinbase, which Celsius have attempted to file under seal and have not yet disclosed. Coinbase's Chief Legal Officer Paul Grewal hit back at the SEC's objection in a Twitter post stating, Now, Wayne Vaughn had a very simple explanation, saying, And of course, this isn't the first time we've seen the SEC stand in the way of a bankruptcy distribution agreed to by creditors. In March, the SEC objected to Voyager using Binance US to distribute crypto to its creditors, which was of course months before the regulator had filed its lawsuit against Binance but still based their objections on claims that the exchange was an unregistered securities brokerage. A very unimpressed judge in the Voyager case called it This time around, of course, the SEC at least does have an ongoing lawsuit that they can point to regarding Coinbase's brokerage services, but the objection does still seem odd given that the regulator didn't seek an injunction to prevent Coinbase from operating as normal in the interim. The Celsius case will return to court next Thursday to hear the SEC's argument and see if the judge is inclined to allow the plan to go ahead. Now one interesting line of discussion are the implications for the spot ETF applications that are outstanding. Adam Cochrane writes, Now, speaking of ETFs, Bitwise filed an amendment to its spot Bitcoin ETF application on Monday, adding 40 pages of research on Bitcoin market structure. The research aimed to preempt arguments from the SEC, which could be used to reject the current batch of ETF applications. Bitwise claimed to show that Bitcoin futures are the primary market for price discovery with spot prices following futures. According to Bitwise, this would mean that the well -regulated CME futures market should be the primary consideration when looking for evidence of market manipulation. They argued that this trading venue should count as a regulated market of significant size for market surveillance purposes. As part of their argument, Bitwise also cited a previous study from 2019, which suggested that Bitcoin's spot market mainly consisted of fake volume, making the relative size of the regulated futures market much larger in comparison. Regarding the price impact of futures, Bitwise found in 2021 that futures markets accounted for between 52 .97 % and 68 .03 % of Bitcoin's price discovery. Now this isn't the first time Bitwise have dropped large amounts of Bitcoin research on the SEC to dispute their claims. They have produced at least two 100 -page -plus reports in support of previous Bitcoin ETF applications. Bitwise Chief Investment Officer Matt Hogan explained his firm's strategy in a Twitter thread stating, That's the happy case. The question is, what happens if the SEC appeals the court decision? In short, we return to the status quo. We're back to needing to prove that the CME Bitcoin futures market leads price discovery over the spot market such that it can serve as a regulated market of significant size for the purpose of surveillance. Unfortunately, existing filings do not include substantively new arguments or research addressing this question head on. Until now, today's amendment aims to address point by point each of the major objections the SEC has raised in prior disapprovals for spot Bitcoin ETFs. In particular, we try to clear up the significant confusion around the growing body of academic literature on price discovery in the Bitcoin market and demonstrate that every well -designed academic study supports the finding that the CME is significant. So friends, there you have it, a little bit of hacks, a little bit of the SEC objecting to something that seems reasonable from the outside. In other words, a quintessential 2023 crypto day. Appreciate you guys listening, as always. And until next time. Peace.
Crypto Altruism Podcast
A highlight from Episode 122 - Sweat Economy - Building The Economy of Movement with Web3
"Whole industries are born when you can break a trade -off that is considered standard. In our world, the trade -off is if you want to be healthy, if you want to be active, you got to pay. You got to buy a kit, you got to get your membership, you got to do all of these things. How can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of people, we believe that you should be paid for it because it is incredibly valuable. Welcome to the Crypto Altruism podcast, the podcast dedicated to elevating the stories of those using Web3 for good. I'm your host Drew Simon from CryptoAltruism .org. Now, before we get started, a quick disclaimer. While we may discuss specific Web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on investment opportunities or any opportunity, including its legality. And now, let's get on to the show. Welcome and thanks so much for joining. Whole industries are born when you can break a trade -off that's considered standard. I think that bears repeating and I can't think of a better example of this than Move to Earn. For too long, exercise has seemed like more of a chore for many and a very expensive chore at that, with the pricey gym memberships, expensive equipment, you name it. With the advent of blockchain, however, there is a unique opportunity to disrupt this and transform exercise from a chore into a rewarding and income -generating activity. To dive into this, I'm excited to welcome Oleg Fomenko, co -founder of Sweat Economy, an OG in the Move to Earn space with a mission to reward movement to inspire a healthier and wealthier planet. We discuss how Web3 tools can incentivize healthy actions, the evolution of Move to Earn, onboarding hundreds of millions of users to Web3, and much more. So without further ado, please join me in welcoming Oleg to the Crypto Altruism podcast. Okay, Oleg, thank you so much for being here today on the Crypto Altruism podcast. Such a pleasure to have you. Thank you very much, Drew, for having me. Very nice to meet you, Drew. Thank you very much for having me. So excited to have you. I had mentioned this before we got on the call that I've been following it for quite a while, and I'm really fascinated by this whole Move to Earn movement that's going on and how Web3 tools can really change how we get people to be excited about wellness and making healthy life choices. So before we get there, I want to learn about your aha moment that got you excited about Crypto and Web3 in the beginning. I learned about Bitcoin in 2011 from a childhood friend who described what it was, and that definitely perked my interest. Stupid as I was, well, stupid as I am, I got really, really hooked on technology. And I read an awful lot about how it works, the white paper, the Byzantine generals problem, and just basically as much background as I could. In 2011, there wasn't an awful lot. Then I have installed BT Guild. That was the first sort of pool mining software on my old laptop and put it in the corner, and it was sort of chugging along there for about a month, and they mined a few satoshis. Well, actually quite a few satoshis, but because the price was like 20 cents, it wasn't even covering the electricity that I burned on it. And I just threw away a laptop's hard drive for quite a bit right now these days. So I got hooked on tech, and despite the low prices, I actually didn't buy an awful lot of Bitcoin back then. And I had a very interesting sort of music streaming startup back then, and I was trying to figure out how we can do something in crypto, but at best we could just accept Bitcoin payment, which was cumbersome, slow and not terribly interesting, and just handful of people even knew what it was. So opportunity represented itself in 2014 when I started talking to my co -founders about the problem of why are people not as active as they want to be? How come that I used to run some crazy distances and climbing some of the highest mountains in the world, and all of a sudden I couldn't even complete 5k. And, you know, kind of one conversation after another, we very quickly realized that the reason why 100 % of people want to be more active, but they can't, is because nature didn't build us to be active. Nature built us to survive, which means preserving calories rather than spending them. And nature was so serious about it that it gave us this behavioral feature that helped us surviving back then, but right now it's probably a behavioral bug that prevents us from being able to burn those calories called present bias that stops us from, you know, kind of moving and forces us to sit, unless there is a mammoth on the horizon that, you know, that we need to run and kill, or there is something about to make us into food and then we need to run away. And we realized that there is only one solution to present bias, instant gratification. So we kind of went, ooh, so can we actually create instant gratification for every step you take? And that's the story of Sweatcoin. As the name would suggest, we were thinking about building it on blockchain back then, but forking Bitcoin was slow, cumbersome and expensive. Building on Ethereum, we discussed with Vitalik in 2015. We met with him in London. That wasn't really an option because it was just too early. It was a research grade code back then. And we launched in 2016 centralized. And we thought, you know what, give us six months, maybe 12 months, there will be some wonderful blockchain that, you know, we're going to migrate onto. Little did we know that it would take until 2021 for blockchain to get fast enough and robust enough to be able to hold our scale. So, you know, we looked every year and we analyzed everything that was sort of popping up. And until 2021, the answer was consistently, no, we were processing more transactions per second than theoretical throughput of any chain. And in 2021, all of a sudden there was this explosion, there was Algorand, Solana, Polygon, Avalanche, BNB, well, BC back then, and Flow and Celo and, you know, kind of all of a sudden it just sort of, there was a rush of these new technologies. And we got really excited and put a team on this and analyzed more than a dozen different chains. And sort on of after spending, I think, four or five months, we made a decision that we want to build on near. And yeah, the rest is history. We launched last September and it's going incredibly well, incredibly well. I'm sure that we're going to have an opportunity to talk about some of the numbers and metrics and, you know, sort of, yeah, totally. Definitely. I mean, you've had quite many, many, many achievements and it's really grown at an incredible pace and the amount of people that you have engaging with this platform now every day. And, you know, it's good that you really took that time to kind of like, you know, think and make sure that you had the right blockchain, the right timing. And it sounds like you made a good choice there with Near. And sustainable business model as well and token economics. Yeah, for sure, for sure, which is great. And so you talked a little bit at a higher level about sweat economy, but do you mind giving an overview to our listeners of, you know, what it is, what the mission is of your organization? Sure. The mission of the regional sweat coin and that's what economy is to make the world more physically active. And, you know, it seems like it's sort of a tree -hogging mission. And the reality is it couldn't be further away from truth because we actually realized that physical activity has tangible financial value. When I say that your physical duty has value, everyone nods, like you just did right now. But if I ask how valuable it is, people kind of go, could you reframe the question? Could you use different words? I'm like, no, I don't have to. Typically, if something is valuable, it has value attached to it. And here we have something valuable, but we cannot attach any number to it. Maybe there is an opportunity there. And then we started thinking there is an interesting economy that draws parallel with physical activity. It's attention economy by some estimates attention economy now is about $7 trillion business, all the Googles, Facebooks, everything advertising related sits in there and actually quite a lot more. And the interesting parallel between physical activity and attention is that like attention, physical activity is valuable to you. You know, when you pay attention, something starts, you know, you can engage with something, you can get new idea, you can meet somebody, you can, you know, potentially entering some sort of a conversation transaction and purchase something. Very similarly, physical activity is a better physical state, it puts you into a better mental state, it extends your life. And like attention, physical activity is beneficial for a lot of other parties, a lot of other participants on the market, starting from your family that is, of course, would prefer to have you physically active rather than not because they want to enjoy your company for longer, they want you to be in a better mood. Your healthcare provider, your insurer, your employer are all interested in you being physically active and actually prepared to pay for it. Especially insurers, they know very well that your health insurance and your life insurance, if you're physically active, should be a lot cheaper because you're a lot better risk and you genuinely a lot better business for them. Now, attention economy exists and it's $7 trillion, movement economy or physical activity economy doesn't. There is absolutely nothing there. We can talk about it, we can discuss these use cases, but it doesn't exist. And then we thought, hang on a second, in order for humanity not to spend 200 years building this economy, why don't we actually think of creating a token that is tokenizing your physical activity and makes it into a liquid asset that you can exchange with other parties? That's how the concept of Sweatcoin and now Sweat was born. So coming back to your original question, Sweatcoin is our health and fitness app. Despite the name, it's actually not crypto because for eight years we couldn't operate in crypto. We got 240 million users using this application. And when we could move to Web3, to blockchain, it was too late to tell everybody, like, look, from tomorrow, it's going to be completely different game. tokenomics is going to be different. You can't do that. So we had to put out a new token that's called Sweat and it is a crypto token built on NIR. And effectively the way the two businesses work together is you choose, you either play Web3 game and you just create your crypto account and then your steps are converted into Sweat. Or as a lot of people, you know, kind of choose to, they don't opt in and then they get Sweatcoins, which is a centralized points, think of it like air miles that you can gather and you can use inside Sweatcoin, but they cannot be traded on exchanges. They are not real crypto and not as liquid as Sweat, the token. And of course, these two tokens have very, very different token economics. Sweatcoin, for every 1000 steps, you earn one Sweatcoin and Sweat is constantly demanding an increase in number of steps in order to meet next Sweat. This way, supply dynamics are a lot healthier and we have become deflationary already from the month of July. So July and August circulating supply has been slowly shrinking. Wow. Interesting. So much going on there and like incredible. First of all, with the amount of folks that you've been able to onboard the love, the idea of like offering, you know, Web3 and Web2 version, because it might just be those people that maybe aren't quite ready yet, but want to experiment a bit, want to learn about the technology first, then it gives them an easy kind of entry, you know, accessible entryway, which is great. And so you talked about the Sweat token, which is the built on the near blockchain. And that's kind of the for the Web3 version, the currency that kind of behind this whole movement economy. So you talked about that users will get this, they'll earn this from from walking, engaging in that physical activity. What can they do with these with these tokens once they actually receive them? What's the like utility of them? Yeah, no, there is there is plenty. But actually, if we take a step back, because I think in the crypto world, a lot of people are sort of obsessed with the word utility. I actually think that the more important question is, if you ask somebody, why is this token valuable? Yeah, what is the answer to that question? And I have answered to both of these questions. But I would like to start with the one that I think is more relevant in long term, why is Sweat valuable? And the reason why Sweat is valuable is because it is produced by your verified physical activity. So when you move, and if you try to cheat, it doesn't work. In fact, if somebody is trying repeatedly to kind of break into the system and you know, sort of game it, then we just disable accounts and they can never return. But if you put in genuine physical activity, so you sweat it, then we verify it. And we issue with this token that is tokenized physical activity of yours. And because of that, there is no single question in people's mind that it is valuable. It's a very, very different relationship to a string of numbers that sort of miraculously appeared out of, I don't know, nothing, airdrop, I don't know, whatever activity. And then people, majority of people, not crypto natives, but crypto curious are wondering, why does it have any value at all? Why is it not zero? And that is an extremely difficult question to answer. Now we don't have this problem. However, crypto educated or crypto informed you are, that's my physical activity. That's my sweat. That's not zero because, you know, it cannot be, you know, can I sweat it over it? Right. And this is an answer to the longterm question. So in five years, 10 years, 15 years, 20 years time, when people are going to be talking about why is sweat valuable, they're going to say, are you kidding me? It's a tokenized physical activity. How can it be zero? However, it doesn't stop there. You know, in order for us to build movement economy, in order for us to feel sweat with this meaning that it is tokenized physical activity, in order for us to establish financial, you know, kind of number or just a value to it, we need to play a game in the interim that is effectively creating utility and demand drivers for sweat. For a lot of projects, that's all they do. We do have a longterm vision that I've just described to you. The short term vision is extremely simple. You need sweat in order to participate in our kind of network in our platform, you stake sweat, and you earn interest by taking sweat, you also have access to a lot of rewards that are linked to health and fitness, well being fashion, etc. So this is an extremely engaging thing for our users, you are also earning sweat from our learn and earn. And because 90 % of our users are brand new to crypto and web3, they are seeking and are very interested in information. So what is taking? How does it work? You know, how do you transfer? How do you receive crypto? So we are building this whole ecosystem of effectively onboarding products and information, how do you become a proper crypto native? Last but not least, are a lot of functionalities that are being rolled out right now as we're ramping up for our US launch. The most exciting one is Sweat Hero. It's a free NFT game that effectively, if you engage, come in, we give you an NFT of legs. Because, you know, we're about walking and running. Yeah. And, you know, you get the NFT and you can play with other people, literally walking, I'm not going to go into mechanics, if you're interested, you can sort of go and look at it yourself in Sweat Wallet app. Or if you are in the US and you can't still use all the functionality, then you can just go on YouTube and put Sweat Hero and there are plenty of screenshots and screencasts from users that have been participating in beta testing. So you basically go into battle and the game and I battle you and I put 10 Sweat, you put 10 Sweat, the winner takes 80 % and the 20 % goes into what we call a battle fee, which is effectively a token sync that community votes on later on. And that brings me to your one of the first and earlier questions, you know, about move to earn and sustainability of the business, because we're frequently asked, you know, how are you different from, you know, kind of other projects out there? And we say, well, tens of millions of users is one thing, nine years of history and therefore ability to spend time thinking about building sustainable business and sustainable token economics. And what we are doing right now by scaling and not going into that spiral is evidence that we know how to build sustainable businesses that really function. More than that, as I already mentioned, in July and in August this year, Sweat has already become deflationary. So the sources of demand on a monthly basis are higher than emissions of token by you walking, plus all unlocks, users, team investors, and everything. So the number of tokens that hit the market is lower than the number of tokens that are extracted from the market, which in web two world would basically be definition of profitability. Yeah. Yeah, for sure. Very interesting. Yeah. So much on the go. And, you know, I love this idea as well of the Sweat Hero NFT game. I think that's a really fun way to engage people in a different way and to bring NFTs in the mix as well. You mentioned move to earn in there too. And so I know that obviously Sweat Economy kind of is a great example of that, you know, move to earn ecosystem fits within there. You know, there's, it's a pretty early stage space for sure. You know, fairly nascent, a couple projects for sure, like yours that are really growing at a rapid pace, but still very early. Where do you see things when it comes to move to earn in the future, let's say five to 10 years from now? What do you think? How do you think it'll shape, you know, the overall wellness sector in the coming years? I mean, there are several very interesting things here. One is, whole industries are born when you can break a trade -off that, you know, is considered standard. You know, for example, internet broke this trade -off where you could deliver rich message, but very few people, or you could deliver extremely poor message and extremely narrow message to a lot of people. Reach and richness was a trade -off. Internet broke that and the rest is history. You know, you can talk to individual with extremely rich message and sometimes screw with their heads as well as Cambridge Analytica has proven, right? So it's a double -edged sword, unfortunately. So in our world, the trade -off is, or if you want to be healthy, if you want to be active, you got to pay. You got to buy kit, you got to get job membership, you got to dress, you got to do all of these things. You know, how can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of other people, we believe that you should be paid for it because it is incredibly valuable. Like in attention economy, you are given free products in exchange for your attention. Why wouldn't we be doing exactly the same thing in exchange for my physical activity? So move to earn is breaking this trade -off and I believe that it is going to become a more or less standard approach because if physical activity was only valuable to me and me alone, I would need to pay. But given that it drives an incredible amount of value for everybody, including countries, I mean, if you're physically active, you're going to be more economically active for longer. The tax revenues from you are going to be higher. It's good business. You know, even if you're looking at it in the dry light of day, obstructing yourself from taking care of people, making sure that, you know, this country is a good place for them to live. But even just in financial terms, it's good business. So this is the first thing that all the businesses in move to earn are doing, regardless if they're Ponzi or non -Ponzi actually think that it's great because businesses are reminding people that their physical activity has value. Bingo. That moves this whole idea of movement economy forward. The other trend that I see is that we need to get fewer people who are focusing on crypto natives, which is the case with a lot of other products and are focusing on mass market, because the value is not in making very, very narrow field of already reasonably rich and wealthy people more physically active. The real value to humanity is going into the lower social stratas, because that typically is where behavior change is most needed. If you look at dominant in A and B social groups, but it's starting to ramp up as you go lower down the income tail. So we need to start focusing on these people. We need to start developing propositions that are absolutely free, that are extremely simple to engage with, like what's what economy is doing. Because a lot of people are asking me, crypto, web3, what's your advice? And my simple advice is, look, we're so early, I can't even point a finger where to go. But if any of you remember internet of 96 and 97, you would remember that, I mean, there was Yahoo, right? There were very, very early businesses. None of them are really sort of dominating. And the opportunity is still there. And the opportunity number one is we still don't have an email for internet. We don't have an ubiquitous use case for web3. That email became for internet. That's what we're focusing on. Can we develop something that every single person on planet earth would be interested and benefit from if they engage with? And if you have legs, and if you can take steps, you know, you can engage with sweat economy. And I think we're on the right path there. The other thing that I would say is that if you actually look at the overall web3, and all the different tokens that exist, I see right now only three use cases or three classes of tokens that can be explained in a very simple fashion. Why on earth do they have value? Case one, Bitcoin digital gold, inflationary protection. It's capped supply. Everyone is paying attention to it. Everyone is in because of the first mover advantage. Therefore, it is playing the role of digital gold and probably is replacing gold as that inflationary protection asset. Case two, layer ones, computers securing asset ownership on the internet. Like electricity powers computers, like tokens, like ETH, like NEAR, like Avax, like MATIC. You need to have them in order for these computers to work for you and secure ownership of assets. And case three is tokenization. And here there is kind of wide range. The most simple one is tokenizing fiat currency, USDT, USDC. Basically, you are turning an asset that already exists into a token to make it more liquid, easier to transfer, easier to exchange with a lot more censorship resistance and with fewer parties being able to tell you can you or cannot you conduct this particular transaction. And there is a lot of experimentation with other assets like TDELs, for example, kind of tokenizing them. And we are pushing absolutely boundaries of that because we're not tokenizing an asset that already exists, that already has markets that can be exchanged. We're creating new asset class because as I said, everyone agrees that physical activity has value. It should have been an asset, but actually without blockchain, it cannot be turned into an asset. And we are creating new asset, new asset class, and the whole new industry that cannot be created without blockchain participating in this.
CoinDesk Podcast Network
A highlight from SBF TRIAL: 09/26 UPDATE
"Welcome to The SBF Trial, a Coindesk Podcast Network newsletter bringing you daily insights from inside the courtroom where Sam Bankman -Fried will try to stay out of prison. Follow the Coindesk Podcast Network to get the audio each morning with content from the Coindesk regulation team and voiced by Wondercraft AI. Former FTX CEO Sam Bankman -Fried has traded his palatial Bahamas bunker for a bunk bed as he transitions from lux to lockup. Bankman -Fried is staying at the Metropolitan Detention Center in Brooklyn, one of the nation's most notorious correctional facilities. Conditions at the jailhouse where Bankman -Fried has resided for six weeks since losing his bail are a far cry from the former billionaire's old Caribbean stomping grounds. The internet is slow, the living quarters dirty and the cafeteria offering slim, his lawyers have argued. He is subsisting on bread and water, sometimes peanut butter, the defense told a federal judge last month. Former residents of the famous facility and their lawyers, however, have said there's much more to tell about the notorious lockup. They've likened conditions at the jailhouse to those faced by prisoners of war and Hannibal Lecter in the horror movie The Silence of the Lambs. But what's MDC really like on the inside? Here's what we know about the infamous detention center. MDC Brooklyn is a large prison complex encompassing two buildings and housing more than 1 ,600 male and female prisoners, many of whom still await trial. As a mixed security facility, the MDC houses inmates with a variety of criminal histories, including terrorism, organized crime and drug smuggling. A report from the Bureau of Prisons shows current inmates include Juan Orlando Hernandez, a former president of Honduras, who has pleaded not guilty to drug trafficking charges, and Guo Wengui, a Chinese businessman who has pleaded not guilty to fraud charges. Others who have previously served short stints at the jailhouse include Epstein accomplice Ghislaine Maxwell and pharma bro Martin Shkreli. Bankman -Fried likely has a rigid schedule at MDC. Inmates wake up at 6 a .m. and must make their beds, mop the floor and tend to their trash. An orientation handbook from the facility shows. From there, inmates like Bankman -Fried might go to work around the facility, serving as prep cooks in the jail's kitchen, providing janitorial services throughout the complex, or assisting at the facility's maintenance shop. At 11 a .m., they eat lunch. Dinner is served at 4 p .m. Meals are supposed to consist of a meat such as turkey, a starch like rice and a vegetable or fruit, but prisoners are actually served cold cuts, sandwich bread, moldy pound cakes and other unidentifiable foods from the kitchen, according to a petition on Change .org. If Bankman -Fried, a vegan, doesn't like what's offered at the cafeteria, he can use his $150 weekly commissary allowance to buy peanut butter and jelly sandwiches, worth $3 .65 each. He can buy up to two of those per day, according to the complex's rules. In between meals and work, inmates are allowed breaks. However, there's no prison yard for recreational activities at MDC. Instead, Bankman -Fried will have to hang out with his fellow inmates in indoor community rooms, where they can play cards, talk and watch television. Bankman -Fried can also take showers during his downtime in one of five separate individual shower stalls, according to former inmates. However, lines to use the showers are often long. At the end of each day, Bankman -Fried may retire to a communal dorm with rows of bunk beds, according to former prisoners' accounts. However, it's also possible he has been put in protective custody and has his own cell. Either way, getting some shut eye may not be easy. Fluorescent lights keep the dorm and other rooms across the jailhouse semi -lit 24 hours a day. Inmates' writings show. In addition, inmates can often be heard shouting across cell blocks at all hours of the night, former prisoners have said. Uncomfortable heat and cold is another potential issue Bankman -Fried may encounter during his stay at MDC Bankman -Fried in Brooklyn. According to several local news reports, many parts of the MDC lack heating and air conditioning units are sparse throughout much of the facility. Want to follow along? Sign up for Coindesk's new daily newsletter, The SBF Trial, bringing you insights from the courthouse and around the case. You can get the podcast each day right here by following the Coindesk Podcast Network. Thanks for listening.
Fading Memories: Alzheimer's Caregiver Support
A highlight from From Struggle To Resilience: Finding Joy in the Face of Dementia
"I absolutely believe that if we were able to lead more improvisational and playful lives as a whole, not when the moment where you're hit with possibly one of the most upsetting and frightening moments in your life, then I think our relationship to a lot of this would shift. Does it make everything okay? Of course not. But it certainly would, again, empower us to be able to do different kinds of things, to create support, to be able to do something more powerful, more joyful, just more positive, more giving. We're not victims. I mean, there's a lot of things, nuances in that, but that's really what we're very committed to doing. In this compelling conversation, Mary Friedli, co -founder of The Joy of Dementia and Re -imagining Dementia joins us to shed light on the unique opportunities for connection that have arisen since the pandemic and the widespread adoption of Zoom. She emphasized the power of creating communities of support for those living with dementia and their families and care partners, transforming the often isolating journey into a joyful and meaningful experience. Mary also shares the critical need to re -imagine the stigma and fear surrounding dementia, revealing the power of resources, tools, and collective efforts in empowering individuals and combating isolation. Welcome to Fading Memories, a podcast for caregivers of loved ones with dementia. I'm your host, Jennifer Fink. My mom had Alzheimer's for 20 years, and when I went looking for answers, I had to start a podcast to find them. Join me as we navigate the challenges of dementia caregiving together. Through personal stories, expert interviews, and practical advice, we'll explore effective communication strategies, stress -free and effective communication strategies, management techniques, and ways to cope with the emotional journey. This podcast is your beacon of support and empowerment. Let's share our experiences, find solace, and discover the strength within us. Get ready to embark on a transformative caregiving journey with Fading Memories. If you're looking for additional advice, be sure to sign up for our weekly email newsletter. It's brief, gives you great advice. You can read it in less than five minutes, and you know where to find the link. It's in the website, on the show notes. We're working on subscriber -only information and specials, so you're not going to want to miss out. Unfortunately, it's part of our modern world that some people will look to prey on the most vulnerable members of our society. With modern technology, scammers have more avenues to exploit people than ever before. Americans over the age of 65, especially those living with Alzheimer's and dementia, are receiving an average of almost 200 unwanted landline calls every week. That's more than 28 calls a day from bad actors trying to defraud our loved ones. Even worse, nearly 10 % of these calls have no caller ID, making it even harder to distinguish between legitimate and fraudulent calls. Older adults are less likely to be tech savvy and more likely to be home during the day to answer these calls. Please don't rely on notes by the phone as an attempt to stop a crime before it happens. You need IMP. IMP offers advanced call protection and a variety of other features to keep you and your loved ones safe from scams. IMP only allows wanted callers to ring through. Stopped are 100 % of the spam, scam, political, fundraising, debt collection, and survey calls before a single ring. Traditional call blockers can't do this and neither can the do not call registry. Don't wait until it's too late. Protect yourself and your loved ones by going to www .joinimpasenhall .com. Also, the link is in the show notes.
Fading Memories: Alzheimer's Caregiver Support
A highlight from From Struggle To Resilience: Finding Joy in the Face of Dementia
"I absolutely believe that if we were able to lead more improvisational and playful lives as a whole, not when the moment where you're hit with possibly one of the most upsetting and frightening moments in your life, then I think our relationship to a lot of this would shift. Does it make everything okay? Of course not. But it certainly would, again, empower us to be able to do different kinds of things, to create support, to be able to do something more powerful, more joyful, just more positive, more giving. We're not victims. I mean, there's a lot of things, nuances in that, but that's really what we're very committed to doing. In this compelling conversation, Mary Friedli, co -founder of The Joy of Dementia and Re -imagining Dementia joins us to shed light on the unique opportunities for connection that have arisen since the pandemic and the widespread adoption of Zoom. She emphasized the power of creating communities of support for those living with dementia and their families and care partners, transforming the often isolating journey into a joyful and meaningful experience. Mary also shares the critical need to re -imagine the stigma and fear surrounding dementia, revealing the power of resources, tools, and collective efforts in empowering individuals and combating isolation. Welcome to Fading Memories, a podcast for caregivers of loved ones with dementia. I'm your host, Jennifer Fink. My mom had Alzheimer's for 20 years, and when I went looking for answers, I had to start a podcast to find them. Join me as we navigate the challenges of dementia caregiving together. Through personal stories, expert interviews, and practical advice, we'll explore effective communication strategies, stress -free and effective communication strategies, management techniques, and ways to cope with the emotional journey. This podcast is your beacon of support and empowerment. Let's share our experiences, find solace, and discover the strength within us. Get ready to embark on a transformative caregiving journey with Fading Memories. If you're looking for additional advice, be sure to sign up for our weekly email newsletter. It's brief, gives you great advice. You can read it in less than five minutes, and you know where to find the link. It's in the website, on the show notes. We're working on subscriber -only information and specials, so you're not going to want to miss out. Unfortunately, it's part of our modern world that some people will look to prey on the most vulnerable members of our society. With modern technology, scammers have more avenues to exploit people than ever before. Americans over the age of 65, especially those living with Alzheimer's and dementia, are receiving an average of almost 200 unwanted landline calls every week. That's more than 28 calls a day from bad actors trying to defraud our loved ones. Even worse, nearly 10 % of these calls have no caller ID, making it even harder to distinguish between legitimate and fraudulent calls. Older adults are less likely to be tech savvy and more likely to be home during the day to answer these calls. Please don't rely on notes by the phone as an attempt to stop a crime before it happens. You need IMP. IMP offers advanced call protection and a variety of other features to keep you and your loved ones safe from scams. IMP only allows wanted callers to ring through. Stopped are 100 % of the spam, scam, political, fundraising, debt collection, and survey calls before a single ring. Traditional call blockers can't do this and neither can the do not call registry. Don't wait until it's too late. Protect yourself and your loved ones by going to www .joinimpasenhall .com. Also, the link is in the show notes.
Evangelism on SermonAudio
A highlight from Mystery Meat
"Morning. Ashley wasn't kidding. I am glad to be back. I really, really love this church. It's evident every time we go away, and I absolutely love preaching and teaching the Word of God. I get a little jealous when I'm away, to be honest with you, when I see someone else standing behind my pulpit. Just truthfully, I'm jealous over this. I love doing this. It's the greatest privilege in the world. Well, if you're just visiting us, we go through books of the Bible, and we're going through one of the, as if they can be ranked, right? But John has done some incredible work down through history. This book has been used to convert souls, the most unlikely of souls. And so whenever we have taken a little bit of a break, I've been gone for two weeks, and so some of you may have no idea. Some of you can't remember what you did last night, let alone two weeks ago, right? So whenever I'm away for a little while, I like to do a two -minute review of the purpose of the book so that you know why this book was written. In case some of you are here and are not familiar with the Bible and how it works, it's a library. As a matter of fact, biblio means library, and so there are 66 of these books, and each one of them has a different purpose. And the Gospel of John has its own unique, distinct purpose, and here's the job of every interpreter. Every interpreter's job is not to find clever ways to make it mean something that's relevant for their culture. That's not the job of an interpreter. The job of an interpreter is simple. Get in the head of the original author to the original audience. I have to try to find out what John meant. Who cares what we think it means, right? Give me an amen. We want to know what John says it means, and we want to know what John says it means to the first readers. We're not the first readers. This was written to a unique people group a long time ago in the Middle East. And so let's start up again by reframing our mind according to what the author says he wrote this for. At the very, very end of the book, it's 21 chapters long, and at the very, very end of the book, he tells us flat out why he wrote the book. Here's what he says. He says, Jesus performed many other signs, miraculous signs that is, in the presence of his disciples which are not written in this book. In other words, you're going to have to go somewhere else for those. These, the contents of this book, these have been written so that, here comes the author's purpose statement, so that you may, say the word, be. So that's purpose number one, that Jesus is the Christ, the Son of God. And there's a second purpose, that believing you may have life in his name. This, what you're reading, is a true, historical, eye -witness account of the life and ministry of a man who lived in the Middle East, who rose from the dead. That means, if someone raises from the dead and defeats something that you can't defeat, you should probably listen to what he has to say, don't you think? John says, I'm recording every word that man who rose from the dead had to say, so that you can, two things. One, believe, and two, live. Here's the point of the book. The point of the book is to help people believe an eye -witness account to the life of a man who died, and then three days later, got up and walked around. But it's not just so that you can say, okay, I believe. No more John. No. It's so that as you experience seasons of doubt in your life, you come back to John and say, oh yeah, this is why I should keep on believing. And when I'm struggling to believe, John will help to reaffirm your feet on solid ground, so that you go through your whole life saying, I believe. Tomorrow, I'm going to believe again. The next day, I'm going to believe again. John is for the person sitting here who's not a believer. And they know they're not a believer, and someone drug you here. You're here on purpose, and John is written for you. But John is also for the person who's been a believer for the last 66 years. And you know John, but maybe you're in a season of doubt. Maybe you're struggling because you just lost your spouse. John is a book for you. So, before we go any further and dive back into John, we are in, I started in April. That's about five months ago. We're in the fourth chapter of 21 chapters, and we're about halfway through the fourth chapter. And so, I'm sure that all of you remember exactly where we left off, but just in case there's one person who can't remember, let's repurpose our hearts. Let's go before God, every individual. I'm not going to do this for you. You're here as a worship service. That means there's a part for you. You're going to go before God right now, and you're going to say, Lord, I'm here to hear from you. And you spoke through John, and so speak to me through your servant John. Let's do it together. Father, I'm just a tool to act on behalf of the people who are here to meet with their God. As Craig said, you are a living God. No one else can claim that, but we can because Christ is alive. And so, we put our faith in you. I pray that you would help every person here to commit their heart and mind to not just listening to the word of God, but doing what it says. Lord, speak to us, for we are listening. In Jesus' name, I pray. Amen. Fourth chapter of John, it reads like a movie script. I read it again. It's like the 20th time that I've read it just this month. And this week as I was preparing, I read it, and I'm like, some chapters read like a movie script, and some are not like that. Fourth chapter of John, it literally is set up for a producer and director to just go and put this on film. And I couldn't help but this week as I was reading it, my mind went back to a show that I watched when I was growing up. It was the original Batman show with Burt Ward and Adam West from the 70s. How many of you know what show I'm talking about? Just curious. I had a feeling. I grew up on that show. My mom would put it on for me when I'd come home from school. And there was this thing that they did in the show where whenever they would transition to another part, the narrator would come on and say, meanwhile, back in Gotham City, or meanwhile in the Batcave, and then you'd see the transition. The screen would roll, and you'd hear the doodle -a -doodle -a -doo, remember? It's showing you what's happening at a different part at the same time. John 4 is written like that because the text we're going to start with opens up in a meanwhile in another part of town, and my mind just went back to the old Batman as I was raised on. Here's what you're going to learn. If you've been here for a while, then you know that we're in one of the most beautiful dialogues that really I've ever taken in history. It's between Jesus and a promiscuous Samaritan woman, and he is tender with her. Isn't he tender with her? We're going to get back to that dialogue next week, but the writer, the narrator of the story, interjects. He pauses the story, and he wants you to stop thinking about the woman and Jesus for just a moment because there's an absolutely important lesson that Jesus wants to teach his disciples, and it is a major, major pause. And so this morning, I invite you to turn in your Bibles to John 4. We're going to start in verse 31, and we're going to go down through 38. Not very much, but it's a meanwhile, so you can see the screen roll in your head, and here's what it says. John 4, 31 through 38.
Coronavirus
A highlight from Angle Protocol Introduces stEUR
"Welcome to your Ethereum news roundup. Here's your latest for Monday, September 25th, 2023. Angle Protocol introduces SDRO, Consensus partners with Protocol Labs for its startup program, OP Labs outlines its fault -proof VM design, and Arbitrum redesigns its ecosystem portal. All this and more starts right now. The Arbitrum on Gitcoin Grants round is now live, if you'd like to support this podcast please consider contributing by visiting ethdaily .io forward slash gitcoin. Angle Protocol introduced STRO, a stablecoin pegged to the euro that offers a variable 4 % APY. The protocol generates yield by holding BC3M, representing an ETF invested in short -term euro government bonds currently yielding 3 .6%. Users can exchange their AGO stablecoins for STRO to earn interest. Angle Protocol has committed to distributing 90 % of its projected earnings to holders. The APY will be adjusted on a weekly basis depending on the utilization rate. There are no upfront fees, deposit or withdraw charges, locks, or minimum deposit requirements for minting STRO. Angle Protocol has integrated a feature onto its dApp to swap into AGO and stake it for STRO in a single transaction. Consensus partnered with Protocol Labs to support builders as part of its Consensus Scale startup program. Accepted program participants will have access to Protocol Labs resources, technical support, co -marketing opportunities, workshops, funding, and Consensus products like MetaMask, Infura, and Linea. The program aims to support dApps and Web3 projects in the Seed to Series A funding stages. Funded projects with an existing team and product -market fit can apply for the Consensus Scale program, which spans 24 months. Protocol Labs is an open -source research and development startup incubator. In a new blog post, OP Labs detailed how the design of the fault -proof VM in the OP stack contributes to both social and technical decentralization. The fault -proof VM is a component of the OP stack's fault -proof system focused on the secure execution of instructions. Its design embraces the multi -client principle, supporting multiple proof types. The design of the fault -proof VM ensures it remains unaffected by protocol changes on Layer 1, such as the addition of new opcodes. Its primary function is to execute individual instructions, ensuring correct and secure execution. OP Labs is also exploring ZK validity proofs for the OP stack to enable faster bridging. And lastly, Arbitrum redesigned its Arbitrum portal, a gateway for browsing over 600 dApps available in the Arbitrum ecosystem. Users can browse dApps by advanced search, category, or chain. The portal also features developer docs, educational resources, job listings, and community talks. Arbitrum portal also lists a timeline of the upcoming Arbitrum Odyssey campaign. In other news, Pimlico raises $1 .6 million, Taeku releases version 23 .9 .1, Reth releases Alpha 9, and Slowmist suffers a $200 million compromise. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
Ethereum Daily
A highlight from Angle Protocol Introduces stEUR
"Welcome to your Ethereum news roundup. Here's your latest for Monday, September 25th, 2023. Angle Protocol introduces SDRO, Consensus partners with Protocol Labs for its startup program, OP Labs outlines its fault -proof VM design, and Arbitrum redesigns its ecosystem portal. All this and more starts right now. The Arbitrum on Gitcoin Grants round is now live, if you'd like to support this podcast please consider contributing by visiting ethdaily .io forward slash gitcoin. Angle Protocol introduced STRO, a stablecoin pegged to the euro that offers a variable 4 % APY. The protocol generates yield by holding BC3M, representing an ETF invested in short -term euro government bonds currently yielding 3 .6%. Users can exchange their AGO stablecoins for STRO to earn interest. Angle Protocol has committed to distributing 90 % of its projected earnings to holders. The APY will be adjusted on a weekly basis depending on the utilization rate. There are no upfront fees, deposit or withdraw charges, locks, or minimum deposit requirements for minting STRO. Angle Protocol has integrated a feature onto its dApp to swap into AGO and stake it for STRO in a single transaction. Consensus partnered with Protocol Labs to support builders as part of its Consensus Scale startup program. Accepted program participants will have access to Protocol Labs resources, technical support, co -marketing opportunities, workshops, funding, and Consensus products like MetaMask, Infura, and Linea. The program aims to support dApps and Web3 projects in the Seed to Series A funding stages. Funded projects with an existing team and product -market fit can apply for the Consensus Scale program, which spans 24 months. Protocol Labs is an open -source research and development startup incubator. In a new blog post, OP Labs detailed how the design of the fault -proof VM in the OP stack contributes to both social and technical decentralization. The fault -proof VM is a component of the OP stack's fault -proof system focused on the secure execution of instructions. Its design embraces the multi -client principle, supporting multiple proof types. The design of the fault -proof VM ensures it remains unaffected by protocol changes on Layer 1, such as the addition of new opcodes. Its primary function is to execute individual instructions, ensuring correct and secure execution. OP Labs is also exploring ZK validity proofs for the OP stack to enable faster bridging. And lastly, Arbitrum redesigned its Arbitrum portal, a gateway for browsing over 600 dApps available in the Arbitrum ecosystem. Users can browse dApps by advanced search, category, or chain. The portal also features developer docs, educational resources, job listings, and community talks. Arbitrum portal also lists a timeline of the upcoming Arbitrum Odyssey campaign. In other news, Pimlico raises $1 .6 million, Taeku releases version 23 .9 .1, Reth releases Alpha 9, and Slowmist suffers a $200 million compromise. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
Bitcoin Audible
A highlight from Read_767 - Pay Me in Bitcoin theory.
"If the merchant wants the Bitcoin and you pay in fiat, that is you shifting the burden of fiat friction onto them. And paying your valued vendors in Bitcoin is the opposite of mutually assured destruction. It's mutually assured survival. The best in Bitcoin made audible. I am Guy Swan and this is Bitcoin Audible. What is up guys, welcome back to Bitcoin Audible. I am Guy Swan, the guy who has read more about Bitcoin than anybody else you know. We have got a wonderful read. We have Parker Lewis back on the saddle doing some writing and I know his book and lots of really really cool things are happening with the Gradually Then Suddenly series, which I absolutely love. And anybody who knows all of the audio is available on this podcast. I will be linking to the first piece, I think there's like 15 of them or something, I'll be linking to the first piece in the show notes and maybe maybe I should take this opportunity to kind of put them all together somewhere. I'll see if Parker is linking to the audio on the actual articles because I also have the link to the Gradually Then Suddenly website where you can find all the written versions. Actually you know what I'll do in the meantime, just in case, I will make a Spotify playlist. That is a really easy way to get the link. So that's probably what you should see in the show notes instead, a Spotify playlist with a link to the Gradually Then Suddenly series by Parker Lewis. But anyway, we've got a different one today and it's based off, or it's the same theory or the same theme I guess as the Bitblock Boom speech that he gave, the presentation that he gave. And it's a really interesting way to think about merchant adoption in Bitcoin and how we're moving from the store of value to the medium of exchange phase and why there's not actually a chicken and egg problem here, that there's fundamentally an order of operations or order of events from the concept of how the merchant sees or understands the value of Bitcoin or how all of the individuals in Bitcoin see and understand its value before there is actual reason in widespread adoption for accepting it as a means of payment. So anyway, I won't head off the article too much. We will go ahead and get right into it. This episode is brought to you by Nodeless. Nodeless .io slash guy is my special link. This is the easiest way. No setup. Don't set up a node. Don't worry about BTC pay server. This is the easiest way to get all that functionality, to get it plugged into your WooCommerce store, get a donation page, set up a fundraiser, accept it on your website or for your project, set up paywalls, whatever it is, even design simple webhooks with none of the Bitcoin or Lightning overhead. Nodeless does all the work and you just get the Bitcoin forwarded directly to you. There's no subscription here. It is a simple 1 % plus 100 sat fee. Signing up doesn't cost anything. There's no KYC. This is literally the perfect way to get the person who you know is interested in Bitcoin but has yet to accept it or doesn't really know how to deal with running a node or doing any of that stuff. How did they get plugged into Bitcoin? How do they easily accept it? That is what Nodeless is for. To make the entire process as painless and simple as possible. Right now I'm offering, don't know how long I'm going to keep this up, I'm offering, if you go to my link right in the show notes, set up your donation page, literally takes a couple of clicks and tag me on Noster or Twitter with the link. I will throw you 10 ,000 sats. So check it out. It's nice to have 10 ,000 sats and you should put those sats on your cold card hardware wallet, which you will also get a 9 % discount for with code Bitcoin audible. You know, if you want to keep your Bitcoin safe, you need a cold card. Check them out. All the details are available in the show notes. And with that, let's get into today's read. And it's titled Pay me in Bitcoin theory by Parker Lewis.
Simply Bitcoin
A highlight from Saylor Now Own's Almost 1% of All Bitcoin, BUYS MORE | EP 831
"Yo intro first You're against freedom Yeah, we're gonna salute Bitcoin live we're your number one source for the peaceful Bitcoin revolution for breaking news culture manic warfare We will be your guide through The separation of money and state. I hope everyone had an amazing effing weekend I did I got to chill, you know everyone on the weekends like man like like what'd you do? What like, you know, what did you do anything crazy news, whatever? No, man I stayed home and I chilled and I relaxed because the week, you know, it's the Bitcoin rollercoaster making Bitcoin media You know, it's a grind. I'm not gonna lie It's very purposeful and I'm very very grateful and privileged Opti and I are and the rest of the simply Bitcoin crew But but it is it is quite a bit of a grind. So on weekends, I get to chill. Anyways enough of that breaking news Michael Saylor buys Even more Bitcoin the man or micro strategy better said now owns almost 1 % of all Bitcoin sky talk about Conviction this is conviction Michael Saylor is proving to the world and this is something that I've been saying guys in the next two or three years it is going to be Undeniable, it's gonna be an undeniable fact that naim bukele's Bitcoin strategy and Michael sailors strategy on the public company level is Going to be an alternative than holding fiat currencies on their balance sheets Especially with the FASB rule changes, especially with the Bitcoin ETF around the corner there They're gonna they're trying to do whatever it takes and I believe it's politically motivated I'm not the only Bitcoin or that has said this by the way That they're you know, they're trying to slow this down But it's gonna be undeniable and they're gonna have a very hard time Debunking this that Bitcoin Itself, it's just a better money It's just better money and governments are gonna have a hard time disputing that and the reason they're gonna have a hard time Disputing that number one is because they're always going to do they're always gonna want to debase their currency They can't afford the endless wars. They can't afford sending billions of dollars to Ukraine If they didn't have the money printer, so they're gonna have a really hard time explaining that away and number two Censorship, of course, right and the control on money itself, right? A lot of the reasons that the BRIC nations have sought alternatives to the US dollar Not only because the US government is printing a ridiculous amount of money but also because they've politicized the money they've weaponized the money against their political opponents and Fine, you could you can make the argument. I'm not gonna I'm not gonna make those judgments the government of North Korea are bad Okay, and the government of Russia is bad the government of Cuba is bad. I'm not gonna get into those arguments, right? but let's talk about The vast majority of people that live in those countries that are not have nothing to do with the government They're just like you and you and me. They're just trying to get by they get caught in those sanctions they have nothing to do with it and The system that they want you to live in is if you live in a certain if you were if you happen to be born in a certain country You happen to have certain political beliefs. You are not entitled to have to open a bank account You are a danger. You're a risk. Well Bitcoin is for you Bitcoin is your money it works. So they're gonna have a hard time and this is why we call it the separation of money and state This is why we bring up the book the sovereign individuals so much because it absolutely Hit the nail on the head this what we're living through right now, but it's not only money It's also the disintermediation of information which is happening at the same time. You're seeing it with the Russell Brand stuff You're seeing it with the Tucker stuff Independent content creators are now getting more views and more traction than the legacy corporate media of which they cannot control and that freaks them out too, so After we got over this hill after we endure this this this bumpy transitionary period and if we win the race to avoid the war I Agree with Corey Clifton from swan I think that there's a bright orange future ahead of us and I've never been so pumped about it But I got to say one last thing before I bring up my legendary co -host Michael sailor Please leave some Bitcoin for the rest of us. Anyways Opti. How you doing, brother? I'm doing great man doing great. I also unplugged this weekend. It felt good I was literally joking with everyone in the spaces. I literally lived the meme. Did you guys catch the game this weekend? I unplugged completely what game did he catch? I caught all the games. I didn't do anything yesterday I literally did not a thing yesterday, but watch football Throw tomatoes all you want, but it was it's a great weekend It's good to be a big corner and then also guys mad sailor leave some Bitcoin for the rest of us she It's almost like you taking it all it's almost like you trying to buy all the Bitcoin. Yeah. No, he definitely is bro He he owns 1 % he almost owns 1 % of every Bitcoin. We're at that point. We're at that point in the movie, dude Well, I think this is the PSA where we tell everyone to stop selling your Bitcoin to Michael sailor and huddle onto them coins We're in the dark it actually I saw a good tweet before we go on Nico I saw a good tweet this weekend and it was something on the lines of like Dang, I wish I could remember but it was something like Willy. Woo is bearish Someone there is another part and then it's like and Bitcoin maxis are watching d3 football like if you can't tell that this is the deepest parts of a bear market Like are you even watching there? It was a great tweet I wish I could say it off the top of my head But as you can tell we're in the deep parts of the bear market I hope you guys are stacked and I hope you guys are getting your cash flows up and Just you know getting your body right mine, right? This is the time to get your UTXOs in order to make sure that everything is copa static as we move into a crazy Bull run. Anyways, Nico, we were gonna have a guest today But I'm kind of glad that they didn't show up because I wrote an article for once guys And I'm actually really hyped on this one so I'm gonna read it for you I'm gonna do my best guy Swan impersonation today, and I I think you guys are gonna really like this one So, I don't know it. It's got a lot of soul. It's got some spirit in it It gets me hyped up and maybe I'll give you context for it. I'll just read it and see what Nico thinks He I don't even think Nico seen this yet So I'm excited to get his response his reaction to we're gonna do a reaction video on today's simply Bitcoin Anyway, you go let's get into the show. Are we gonna get a Nico Jones take today? Are we gonna get a wild Nico John? I think so. We got something spicy for the numbers, bro. Let's jump in today. I bet The Bitcoin numbers is your Bitcoin in cold storage really secure is your seed phrase Really secure stamped seeds do -it -yourself kit has everything you need to hammer your seed words into commercial grade Titanium plates instead of just writing them on paper Don't store your generational wealth on paper papers prone to water damage fire damage You want to put your generational wealth on one of the strongest metals on planet Earth? titanium your words are actually stamped into this metal plate with this hammer and these letter stamps and once your words are in they Aren't going anywhere. No risk of the plate breaking apart and pieces falling everywhere Titanium stamped seeds will survive nearly triple the heat produced by a house fire They're also crush proof waterproof non -corrosive and time proof all things that paper is not allowing you to huddle your Bitcoin with peace of mind for The long haul stamp your seed on stamped seed. All right, everybody. I literally made it super frickin easy Don't put yourself in a situation while you lost Why you have to explain to your grandchildren while you lost your generational wealth because you stored your seed on paper store it on Titanium scan the QR code on your screen use promo code simply get 15 % off anything on the stamp seed website anyways at the time of recording The Bitcoin price is twenty six thousand three hundred and forty sats per dollar three thousand seven hundred ninety seven block height eight hundred nine thousand three hundred and three blocks to having Thirty thousand six hundred ninety seven having estimate April 21st 2024 total lightning network capacity four thousand six hundred seventy three Bitcoin Capacity value one hundred twenty three million u .s. Dollars realized monetary inflation one point seven five percent the market capitalization of Bitcoin 513 billion dollars with the B Bitcoin verse gold market cap three point nine nine percent All right, everybody so Opti said Nico Jones ran potential Nico Jones rant What what is this potential Nico Jones rant gonna be about? Well, we've talked about the you know It comes from like the political front this this this saying but I'm gonna apply it to Central bankers, I'm gonna apply to politicians Right, and there is something in the in the political Rhetoric recently and it's called the iron law of something projection, right? So we're gonna take away the political rhetoric because we believe on simply bitcoins not left versus right, right? It's a party of orange versus party of green party of central bank digital currencies nihilism poverty slavery versus a party of freedom Bitcoin Prosperity opportunity optimism, right? So that's really what it's about But I'm gonna take that rhetoric because it is very very powerful rhetoric and I'm gonna say the iron law of central bank Politicians projection never fails it never frickin fails let me introduce you to senator Mendez of New Jersey and let's take a look at what he has to say about Naeem Bukele of El Salvador We have an increasing challenging situation in El Salvador one that threatens both the future democracy in the country and bilateral relations of the United States Over the last two years president Bukele has presided over a number a number of alarming setbacks for democratic governance undermining judicial independence intimidating opposition lawmakers by using security forces to occupy the legislature negotiating political pacts with gangs regularly attacking journalists and media outlets and In addition to these actions Bukele has also repeatedly used his network of Twitter trolls to attract and to attack And threaten not only government critics within El Salvador, but also United States officials We have an increasing challenging situation in El Salvador one So this is just internalize everything everything that this guy said right, you know senator meant You know, he sounded so legitimate.
The Charlie Kirk Show
"each these individuals" Discussed on The Charlie Kirk Show
"I love the meat from Good Ranchers. It is a terrific, terrific quality. I can tell you right now, when you subscribe to Good Ranchers, you get a guaranteed price and a trusted 100% American source for your favorite cuts. You can save on beef, chicken and pork by locking in your price today. Every single Steakhouse quality cut is individually marbled just for you. You guys could check it out right now. That is good ranchers dot com promo code Kirk for thirty dollars off and a free shipping. Remember, subscribe today and lock in your price. That's good ranchers dot com. American meat delivered. I got to say one of the cruelest stories in America that has received very little coverage is how 16 everyday normal ordinary patriots are now criminally charged for signing a piece of paper that was well within their constitutional rights and obligations and that had historical precedent. Christina, tell us what's going on here and then also telling us tell us how we can help these 16 mega patriots that face 50 to 100 years in jail. Christina. Yeah, so to your point, it's so terrifying what's going on and one of the big things that we can do is get involved. You know, every one of the electors have their different mechanism of how they're combating this legally, but we need everyone to get involved with the Michigan Republican Party in this state and share this information with your friends. Now, that may seem kind of minor. It's like, well, why is sharing information so important? Is that one of the reasons why the individuals like Dana Nessel is able to get away with what she's doing is because average people are allowing it to occur. They're not doing anything and many people don't even know what's happening. If more people knew what was going on and deeply involved within our government, then we could actually fight back and put the fear of God in the people like Dana Nessel that if she does it, she's going to be legally held accountable. Also, it's by making sure that people talk with their Republican elected officials in Michigan and saying, hey, you guys need to file articles of impeachment against Dana Nessel because this cannot be tolerated. We cannot have the government weaponized against the citizenry. But the fact of the matter is, is that she feels very confident that she'll get away with this because the average person is not going to do anything about it. So until these people are held accountable, until they feel lawfully, of course, we're talking lawfully, until they feel lawfully the pain of what they're doing, they're never going to stop. What we live in in America currently is in a situation of absolute lawlessness. Well, these people just get away with whatever they want. So what we're trying to do right now is really mobilize people at the ground level, get more people involved in holding our elected officials accountable, involved in knowing what's happening. That way we can lawfully fight back against it. But right now, this situation is in the courts. So the various electors, they're going to need legal support. So individuals, I'm not sure of all the different fundraising apparatuses that the different electors have because they're charged as individuals. That's what's the important thing to remember that they're not being charged as a group. They're being charged each as individuals. So, you know, making sure that we support them in their different legal pursuits is going to be important. But one of the best ways to protect ourselves from this lawlessness, for example, Dana Nessel threatened me with a felony. And prior to the election last year in 2022 for secretary of state, we sued the clerk of Detroit and the board of election inspectors. And recently the judge hit myself and the other plaintiffs with a $58,000 fine. And the judge in the case wouldn't hear any of our evidence, wouldn't listen to any of our witnesses and called us racist and threw the case out. So my point in saying this is that these people are able to do this or whether it's with President Trump, it's because not enough people are lawfully pushing back against the lawless government that we have. The reality is that our government has been captured by a criminal cartel. And so, you know, oftentimes we think about politics, people are always told, get out and vote, get out and vote and get out and vote or donate. What's the other side of that? What is the other side of that coin? It's about holding your elected officials accountable. How many people listening to me right now have been to a city council meeting, been to a county commissioners meeting? When is the last time you went on your state's website and read the bills that are in committee? When is the last time you showed up to a hearing on the bills that are being discussed to be taken up for a vote? And if the answer to that question is I've never done that, this is precisely the problem. These people are operating in a situation where they're able to have free reign over our lives because we aren't showing up. And when we, the people show up, start to scrutinize these people, ask questions, hold them accountable, then much of this lawlessness will subside and it'll be a lot harder for them to just brazenly persecute people because no one is stopping them. Christina Caramo, thank you for joining us. We're going to keep on talking about Michigan and keep the pressure on and keep the heat. And we have back a hundred percent. Thank you so much, Christina Caramo. Thank you, Charlie, for having me on. The Michigan attorney general, Dana Nessel, has gone after 16 everyday people. To make an example, it's Soviet show trial stuff of people that are still on social security, people that have very little financial ability to defend themselves. They want to make you suffer. They want to do a show trial, senior citizens and crush you. Most of the media is not covering this story at all.
What Bitcoin Did
"each these individuals" Discussed on What Bitcoin Did
"So yeah, and then obviously you have the sort of mad dash for hash globally. It's not just happening here in the US. It's happening everywhere else. People are waking up to Bitcoin, Bitcoin mining, more specifically. And they're starting to build out infrastructure where they are. And it seems that MicroBT and Bitmain have been able to keep up their production on the ASIC side of things. So they're going to keep producing and selling. It's weird. I feel like almost over the last three months, like even that recent, it feels like we've turned a corner in the narrative of Bitcoin. Yeah. Do you know what I mean by that? Oh, yeah. BlackRock entered. Well, yeah. I mean, BlackRock helps. That's definitely, we were at the event last night. And it was Harry. What did Harry say specifically? Just look at the signal that this is. This is Larry Fink. This is BlackRock telling every institutional investor, everybody who looks to BlackRock for their guidance, Bitcoin's fine. Bitcoin is OK. You can buy Bitcoin. Yeah. I mean, that's a massive signal. I'm not a big fan of Larry Fink and the way BlackRock and the vanguards of the world operate. But there's nothing we can do about them getting in. It's an open network. They can acquire Bitcoin and give their clients access to Bitcoin products if they want it. And I think that's where the signal is. I think BlackRock's hand was forced, where they had so much demand from clients saying, hey, we want access to Bitcoin. Could you please give us a product that allows us to get exposure to this asset? And they finally had to relent and sort of change tune, because they saw all the fees that could come in from that. Oh, you think it's come from there? I would imagine, yeah. I think that it's probably most likely being driven by client demand, wanting exposure to Bitcoin. And then Larry Fink being the capitalist that he is saying, all right, I'll bend the knee on this one and get the fees. But on top of that, BlackRock obviously is the most recent. But we've had the banking crisis here in the US. I think we've had three of the top five bank failures in US history in the first half of this year. And you had a lot of really well-off people wake up and realize that they didn't have access to our money. Obviously, some of those banks got bailed out. Some of them got bought up. And I think that sent a counterparty risk signal to the market, like, hey, do we actually own our money? Which is leading people to be like, hey, maybe this Bitcoin thing does have some validity behind it. And then, for some reason or another, whenever we get within a year of the halving, people start paying more attention, I think. This is an insane chart, by the way. Yeah. It's crazy, isn't it? Yeah, because you look at that 2008. I know Washington Mutual Bank went. But you had so many banking failures, so many regional banks. And then, essentially, on the right, we have this snowman of First Republic, Silicon Valley, and Signature. These are just three that went. And it's kind of crazy that there's not like a grouping of smaller regionals that have gone with it. It's weird that just these three have gone. Not yet. That's because they're a PTFB program. So is that safe? I think more would have gone if they didn't initiate that so quickly. Well, and that's the other thing, too. Again, talking about language and framing from the people in authority, these really aren't regional banks. Like, look at that. Those aren't regional banks. They were positioning it as a regional banking crisis at while this was all going. Oh, yeah, 2008. But no, I agree with you there. But they try to paint Signature Bank, Silicon Valley Bank, and First Republic Bank as regional banks. Niche banks, maybe. Yeah, from a narrative perspective. But no, these banks each had individual account holders with over a billion dollars in deposits. Pretty positive. So not like your regional, down-the-block county bank. They're pretty massive banks. So I think we're in the eye of the storm with this banking crisis. It could be similar to 2008, where we had the blowups in the beginning of the year. Things cooled down for a bit over the summer. Then in fall, things really started to heat up. What are you seeing that's making you think that? I mean, I just don't. Is it like a general sense of the market? Well, that and where interest rates are. These banks blew up for particular reasons. Number one, they had extremely concentrated deposit risk. Two, they have duration risk with the assets they're packing like with the treasuries and obviously with what rates have done over the last two years. I find it hard to believe that it's only three banks that have the problems that signature Silicon Valley and First Republic had. This show is brought to you by Leaden. Now, from savings accounts to personal loans and even mortgages, Leaden's financial services enable Bitcoiners to experience the benefits of holding today without selling their Bitcoin. Leaden have a robust risk management strategy and always prioritize safeguarding clients' assets with no DeFi yield farming. And Leaden only supports Bitcoin and USDC, two of the highest quality and most liquid assets in the industry. They are also dedicated to transparency and are the first digital asset lending company to complete a proof of reserves attestation, which they re-verify every six months. Leaden also have a brand new product, Prime Loans, that allows private wealth clients to lend assets on their terms and by locking in for a fixed term, they can earn even more interest. Leaden has a team of seasoned experts ready to work with you through the entire process to ensure your assets generates yield while protecting your principal. If you want to find out more, please head over to leaden.io, which is L-E-D-N dot I-O. Next up, we have Ledger. Now, Ledger is the world leader in Bitcoin security and is the best way to own and secure your private keys. If you're still holding Bitcoin on an exchange or with a custodian, it might be time to take your security more seriously because remember, not your keys, not your Bitcoin. The Ledger suite of hardware wallets paired with the Ledger Live app are the easiest and safest way to start managing your own private keys. You can send and sign your Bitcoin transactions with full transparency in the Ledger Live app and honestly, it couldn't be easier. I have been a Ledger customer since 2017 and I absolutely love their products. Now, if you want to find out more or purchase a hardware wallet from Ledger, then please head over to shop.ledger.com, which is S-H-O-P dot L-E-D-G-E-R dot com. Also today, we have our lead sponsor, Iris Energy. Now, Iris Energy is the largest Nasdaq listed Bitcoin miner using 100% renewable energy and their strategy is to target markets with low cost excess renewable energy and they build their own highly efficient Bitcoin data centers and are led by a seasoned management team with a track record of success across renewables, infrastructure and digital assets. Danny and I met with the team in Canada and were super impressed with their values, which align with us, so they are a great fit for what Bitcoin did. We have now been working with Iris Energy for a number of months across the podcast, films and events, and they're even sponsoring my football team, Raoul Bedford. It's been really great to work with such a forward thinking and sustainable Bitcoin company. So if you want to find out more about them, please head over to Iris Energy dot co, which is I-R-I-S-E-N-E-R-G-Y dot co. Yeah, we had Jeff Ross in earlier and he was discussing it because your CPI print came out 3% today. It was still at 9% in the UK because we're fucked. But he thinks power should pivot now.
Northwest Newsradio
"each these individuals" Discussed on Northwest Newsradio
"Sculptor Thomas Dambo. To highlight his environmental message Dambo fashions each highly individual troll out of scavenged scrap wood, fallen branches, old pallets, dilapidated sheds. He tells WCSH -TV. For me they represent like the the force of nature and if you if you don't treat nature nice then nature will like stand up and roar and blow your house over but like if you're treating nature really good really like then it will provide everything you need. Already Dambo has built a hundred trolls in the US, in Denmark and in places as varied as Northern Ireland, South Korea and Australia all out of scrap wood. Put it into the big troll cauldron and mix it with a little bit of magic and then out pops a troll. Beginning August in in partnership with the local scan design foundation, Dambo's whimsical 20 -foot tall locations will pop out at undisclosed sites in West Seattle, Ballard, Vashon Island, Bainbridge Island and Issaquah with a sixth troll in Portland. I can use my art to show people that we can make big and amazing things out of our trash. Corwin Northwest traffic from the High Performance Homes Traffic Center. In Sumner it looks like Valley Avenue has fully reopened from that major crash between Houston and Milwaukee. Puyallup Highway 162 remains fully blocked off by an earlier crash between 2nd and 96. This is expected to be a long -term closure and JBLM Roadwork on I -5 South is going on Clark Road until 4 30 a .m. Our next stop is traffic at 834. The Newsradio 1000 FM 977 forecast from the Northwest Crawl Space Services Weather Center. Our pleasant
RADCast Outdoors
"each these individuals" Discussed on RADCast Outdoors
"Matter is is that biologically they have met those metrics that were agreed upon and this is a big convoluted interweb it's not just um rule a affects animals in in you know episode b so it's not like hey we have hunting and populations are going to drop down or up what's very interesting is kodiak brown bear right yeah when they implemented hunting and we'll call it um specifically targeting big boars yeah the infatricide rate dropped way down and the bear population actually exploded on the island because you no longer had 1500 pound super carnivores walking around eating the three 400 pound cups right right so when you remove those ultra big bears from the population you actually have a healthier population of bears yeah and all those things would be part of future management should it occur and again we very much support that so yeah you're right uh and that's the other misconception that well i don't even know if that's a misconception but it's very interwoven and intricate all the things that you pull on one lever and a thousand things move because you've got wild you've got feed you got habitat you got weather you've got diseases you've got you know this is a very intricate biological diverse system that absolutely and realistically you you know with your ungulates and the bear in that relationship by having a protected bear we're now threatening the ungulates to to a degree not i'm not saying absolute that they're they're endangered and they now need to go on the species list but i think bigger larger picture is is if the state can manage the ecosystem as a whole biodiverse entity and you guys can go through and look at each species individual and what's best for that species it's a lot better than handcuffing you and saying oh you can't do this with this species yeah and like you said it's a holistic approach to these things and we're fortunate to have the same species here now that we're here a thousand years ago in the gye and that can't be said in a
College Admissions Decoded
"each these individuals" Discussed on College Admissions Decoded
"Inspiring roles that I've actually had, even though it takes up so little of my time, I get to speak to students who's actually see a faculty member that is a Middle Eastern person, I think for me to serve as representation in that effect, to be able to represent them in other aspects of the school and allow them to pursue their own understanding of their identity, that connects to so many of the things that I'm passionate about within college counseling and I would just say really invest in your own employees professional development and to speak to Jonathan's point know that each is individual and they're going to have completely different interests and needs and so a one size fits all approach is not necessarily going to be the right pathway as you said angel. I think it's really important to understand everyone's strengths, that's going to make so many leaps and bounds for them in their career and make them want to stay within that profession and within that team. Well, I will say that if you two are the next generation of our profession, I'm good. I could retire tomorrow because I have good faith that our profession will be in good hands. I'm wondering, you know, I always like to end on a really optimistic note, a big part of the reason I do this work is because I'm excited about the future of the profession. I think there's lots of reinvention that lies ahead and your generation will actually carry forth a lot of it. If you were to give some advice to our listeners who are young professionals, just entering the field right now, why should they stay? I think the most exciting things for me as I think about the future are they all come down to the fact that higher education is going to change. I think we are at a critical moment for higher education broadly and for the admission profession as well..
The Financial Guys
"each these individuals" Discussed on The Financial Guys
"Ao sees the rashida to leaves you know the communist yawn omar. You know the the Whatever you want to call obama. He laid the groundwork. And i think they were very soon hands up. Don't shoot right. That was my god yet. It would be me. Let's just keep throwing the little fuel on the on the flame On the fire to get this thing roasted really well right so he laid it really really well for for the democrats steal the election and for biden to come in and really continue the radical left agenda for sure joel. I think he's just totally incompetent. He doesn't know what's going on now. He was a perfect perfect guinea pig for the perfect puppet and he's he's sleeping at the meeting yesterday. Like really not look at joe. I wouldn't have showed up for it. So i probably would have taken a nap to the fact that you were there. And this is your agenda. You think you might want to take a little bit of medication just to stay up for the whole thing. Well puppet is absolutely right. I was gonna say now i remember i was gonna say before. I froze sorry about that On the on the elections right so they always say well you could they judge look at it never went do. Here's all the questions i have for youtube. Everybody else listening to questions that nobody's been able to answer okay number one. How did all six states coordinate at the same time to stop counting votes because never my lifetime has a state stop counting votes in fact what trump was elected the first time around. They kept counting until three o'clock in the morning before they were a week later. They were county and county touting right but they counted all night. Three o'clock the two or three in the morning when they finally declared trump got winner right now who coordinated that because the states are supposed to each run individual elections. Mike you are now god. So sorry about that folks He'll be back in a second. Each state is supposed to run individual actions. So if that's the case who coordinated this who coordinated all six states that the six states that they needed to win who coordinated them all stopping the count at the same time. Some had different excuses so the two questions. I had oppose everybody out there. This is what drives me nuts about this. You know everybody says well. There was no fraud. It was obvious again. Answer these two questions who coordinated state stopping the vote stopping account at ten o'clock and if everybody stopped counting and went home what time of day come back because who counted the votes at four thirty in the morning. They can't answer those questions. They can't answer the question of you know who coordinated all six states going home and secondarily. Who voted for whom i would. They answer yeah. Why know why. Why would they answer the question. Why would you answer it when you continuous steel elections. Did it under obama when we knew one hundred twenty five percent of the some of the inner cities philadelphia voted for one hundred percent..
WBZ NewsRadio 1030
"each these individuals" Discussed on WBZ NewsRadio 1030
"Line at 809 50 60 to 64. That's 809 50 60 to 64. So Barbara, Let's talk about back to school. Going to be another unusual start to the school year for a lot of kids. Certainly not what things were, like pre pandemic, But there is going to be more in school learning taking place. What are some of the challenges that you think youth and young adults are going to be going through as they return to school? And how are you supporting student wellness as the school year begins? Sure. So the start of every school year, I think comes with some level of anxiety for many kids, but this year comes with that extra rate of the ongoing pandemic and The real trauma of the last year and a half of so many case of experience, So you know, we need to be prepared for mixed feelings from kids, considering that they may have all been in had different experiences. Last lawyer Some may actually be quite happy to be back in school in person, some last that privacy or had distractions. They get to be away from now, while others may have been in truly unsafe conditions, and school is a haven for them. On the other hand, there are kids who really thrived on their own and being thrown back in the classroom can be very nerve wracking for them. Others may have done attach. The family may experience separation anxiety and not mention those who really finally felt free from some of the bullying or racism they previously experienced on campus and may be exposed to again through the bottom line is that it's really important to listen and be responsive to each child individual needs. And it will be a learning and growing process for all of us. A nominee we provide, Um, a program called Endings of Silence. NAMI, ending the silence and our affiliates in state organizations bring into middle and high school classrooms of presentation teaches Kids about mental health basic one on one how to get help..
The Peter Schiff Show Podcast
"each these individuals" Discussed on The Peter Schiff Show Podcast
"Where i've talked about the constitution particularly some of my fourth of july episodes but there's nothing in the constitution that empowers the us government to pass laws to compel private businesses to accommodate people with disabilities. Now you can argue that well if the states wanted to pass such laws there's nothing in the. Us constitution that prohibits it and that is true would agree. You would have to look to each state's individual constitution to see what limitations a state may have imposed on its government but clearly there is nothing in the constitution that would limit a state or local government from imposing these type of requirements. But there's nothing in the us constitution that authorizes the federal government to blanket. Impose these requirements on everybody all over the country now. Of course the courts disagree with me and they would say well you know. The constitution has a commerce clause and the us government has the right to regulate interstate commerce. Therefore they can have the american disability act but that is pure nonsense. I've talked about that on this podcast as well. The commerce clause gives the united states government the right to regulate interstate commerce. What does not do is give them the right..
Accidental Gods
"each these individuals" Discussed on Accidental Gods
"On what you mean by that. Can you open that up a bit. Yes so i teach a little bit of constitutional law and i've been working public law in my capacity as a as a solicitor and i'm dig more freelance work. But i'm trying to shift a whole what what i'm working on that can go into is almost solution called new disciplines but just to give a his sort of history in a way like as i see constitutionalism almost need to think about the history of how yeah was kind of not go into too much detail but i guess in a simple way of saying is that the economy law and justice. Kind of go together and i say call me. The economy is the allocation of resources. And who gets to allocate the resources. That's the economy. And and so you know. Century england and the economy was around would and around timber for ships for military building and so there was a a the enclosure of by the by then the king. The chops for the forest was about opening up that enclosures. the older laborers could stop. Foraging their subsistence. So that's what we need to think about anything. Economy that much wider descends about who gets to allocate the resources who's making the decisions and the law is the tool by which happens and justice is the felt sense of of living in a fair and meaningful society where we each as individuals are respected And they they all come together. In the id theft political economy. They comment on the political art together on the law is a tool by which we structure our political economy. And i would say when. I say captured what i mean by that. I'd say is captured by a by fundamentalism of a kind and we know some kind of dementia and we go those about but when we see one thing that's being invisible is is market fundamentalism. So markets are there is a tool to for the allocation of resources and you could save their different tools by which we can allocate resources..
WTVN
"each these individuals" Discussed on WTVN
"Get a weekly economic snapshot this week that lately has been trending in a good direction, says ABC Is Daria all bigger. Last week, the number of Americans who filed for unemployment benefits fell to 440,000. That's the lowest number since before the pandemic. This could be causing some dangerous rip currents off parts of the east coast of the US say forecasters. The first named storm of the Atlantic hurricane season won't amount to much sub Tropical Storm Mona's posing no threat to land and is expected to dissipate in a few days on a dropped rain on Bermudas now drifting With east over the Atlantic baby sees Derek Dennis deadly tourist disaster at least a dozen in cable cars killed at a mountain resort in northern Italy when the cable snapped says ABC is Megan Williams in Rome. The rupture and the cable happened while the car was close to the last pylon near the mountain. Top. Authorities say the whole cable structure and cars were fully upgraded five years ago. Had reopened late April after a year or so of closure due to the pandemic. Some Children who survived a critically hurt, according to Italian media, one of the latest tourist destinations, getting closer to normal, this place that mixes a coastline that in some areas Looks like California's but with Robin Hood, like medieval walled towns added Inspirations Tourist board says they will be welcoming tourists as they reopen the Adriatic coastline, but it will all depend on each country's individual travel rules. ABC is Lama Hassan. This is ABC News. Type it in tune with guaranteed rate. When building a house. You have to get the math. Exactly right. Something feel off center. Check the math. Same thing with your mortgage..
KOMO
"each these individuals" Discussed on KOMO
"At zip recruiter dot com slash work. That zip recruiter dot com slash work. Zip recruiter dot com slash work. Get a weekly economic snapshot this week that lately has been trending in a good direction, says ABC Is Daria, all being last week, the number of Americans who filed for unemployment benefits fell to 440,000. That's the lowest number since before the pandemic. This could be causing some dangerous rip currents off parts of the east coast of the US say forecasters. The first named storm of the Atlantic hurricane season won't amount to much sub Tropical Storm Mona's posing no threat to land and is expected to dissipate in a few days on a dropped rain on Bermudas now drifting With east over the Atlantic baby sees Derek Dennis deadly tourist disaster at least a dozen in cable cars killed at a mountain resort in northern Italy when the cable snapped says ABC is Megan Williams in Rome. The rupture in the cable happened while the car was close to the last pylon near the mountain. Top. Authorities say the whole cable structure and cars were fully upgraded five years ago and had reopened late April after a year or so of closure due to the pandemic. Some Children who survived a critically hurt, according to Italian media. One of the latest tourist destinations getting closer to normal, this place that mixes a coastline that in some areas looks like California's but with Robin Hood like medieval Walt Townes added. Inspirations Tourist board says they will be welcoming tourists as they reopen the Adriatic coastline, but it will all depend on each country's individual travel rules. ABC is Lama Hassan. This is ABC News and this is Cobra News. 1000 FM 97 7. We have coma traffic every 10 minutes on the force. Let's check in with Evan Smith and the Duke in Law Group Traffic Center. Clear on westbound I 90 just east of Western Mercer Way.
Harvard Classics
"each these individuals" Discussed on Harvard Classics
"An imitation had embraced. it's maxims and would have taken good care not to offend it for the sake of a piece of paper pasted on the corners of the streets. The men entrusted with the immediate execution of the decrees had they been enterprising as heroes obedient as monks and devoted as martyrs could not have had the upper hand inferior as they were in number to those with whom they would have been engaged in battle with the probability of being frequently abandoned or even sacrificed by those who abstracted -ly or so to say in theory. Set them to work. But besides this these men were generally chosen from the lowest and most rascal classes of those times. Their office was held base. Even by those who stood most in fear of it and their title a reproach it was therefore but natural that they instead of risking or rather throwing away their lives in an impracticable undertaking should take pay for inaction or even connivance at the powerful and reserve the exercise of their execrated authority and diminished power for those occasions where they could oppress without danger. I e by annoying pacific and defenceless persons. The man who was ready to give and expecting to receive a fence every moment naturally seeks allies in companions hence the tendency of individuals to unite into classes was in these times carried to the greatest excess new societies were formed and each man strove to increase the power of his own party to the greatest degree. The clergy were on the watch to defend and extend their immunities nobility their privileges the military there exemptions tradespeople and artisans were enrolled in subordinate con fraternities lawyers constituted a league and even doctors a corporation. Each of these little oligarchies had its own peculiar power in each the individual founded an advantage to avail himself in proportion to their authority and vigor of the united force of the many honest. Men availed themselves of this advantage for defense. The evil disposed and sharp witted made use of it to accomplish..
The Main Column
"each these individuals" Discussed on The Main Column
"Involved as well as the process application which helps them achieve better results by attending regularly. They increase their understanding of each plants. Individual needs ensuring a tailored service beyond simple analyzer inspection and looking at an entire process requirements. So how does this service support. Industry reliability is achieved through good maintenance however this can mean different things to different operators as plant requirements can vary greatly according.
The HUMP!
"each these individuals" Discussed on The HUMP!
"I boycotted founders. I'm kind of in this journey of you. Know what do i do with this. What i do with boulevard. Yeah i mean. It's kinda what those things i mean. It's it's a buzzword right. Now that i hate but the cancel culture stuff i mean as it okay for us as consumers to want to hold them responsible and to do the right thing yes but when they finally like okay. Yeah we fucked up. You know this was wrong. We've made we've committed to making steps to improve this. That include this this this and this you know that to me that's kind of like there are at least attempting to walk the walk so is it okay. Then or do you have to. How long do we have to wait. And before you know. It's socially acceptable to to proclaim that you you know you still like them and love them and yeah. The the good news is with that is. There's a lot of choice now right. You and i are drinking completely w. drinking beer from holland. I'm drinking a beer from wisconsin even during the pandemic even though air consumption was down. A lot of new breweries were opening up. So there's there's choice now that if you if for whatever reason the answer is we're not going back right and you decide to completely cancel them for forever you know. That's each person's individual decision to make around whether they go back and associate themselves with that brand or enjoy the product of the good news. Is you know there's a lot there's a lot of choice. Yeah i mean it's tough because you know boulevards been part of my life for since i've been adult like when i was legally able to start drinking. Actually they were out before. I was legally able to start drinking but the drinking boulevard for thirty years. And it's kind of like when you find out like your your favorite athlete or your favorite actors really an asshole and you're like you know why. Why are you gonna do that to me. You know like we had something going here now you you just shit all over it. Yep now i hear you. That's that's the thing is.
Whores Talk Horror
"each these individuals" Discussed on Whores Talk Horror
"Maybe not but i heard her her talk about her experiences with electroshock and remember being a bit taken aback but understood how extreme her issues had been throughout her life so it really didn't seem farfetched to me the she'd had electroshock at one point in her life but fucking fisher having a laugh and shocking pun intended her audience by saying how much she loves getting electroshock. I think she said it was essentially like a reboot for your brain now. There are side effects. Sure but it's not like what we've seen in the movies certainly. It's not anymore but it hasn't been for a while and i for one had no idea so again. From the scientific american many critics have portrayed. Act as a form of medical abuse and depictions and film and television are usually scary like in room for a dream. That scene is so disturbing. I think was actually listed somewhere. I saw as an example brutal yet. Many psychiatrists and more importantly the patients consider it to be a safe and effective treatment for severe depression and bipolar disorder. Few medical treatments have had such despair. It in which i think is true but again this is amazing to me. Basically the idea is to stimulate the brain with the voltage amount that based on each patients individual seizure threshold. So it's not like they just shock you like they do work with you and while some drugs such as lithium or can cause a negative reaction with the shock. Therapy patients there are on. Those men are given treatments to counter act or offset any interfering reactions prior to getting electroshock act gained popularity in the nineteen forties whereas lobotomies would reduce a patient to a more manageable submissive state. Act help to improve mood in those with severe depression a survey of psychiatric practice in the late nineteen eighties. Found that an estimated one hundred thousand people received seti annually with wide variation between metropolitan statistical areas the tree minutes use worldwide but regulated in the us at the state level which means that. We don't unfortunately have a lot of accurate information. Data on the effectiveness of treatment as different states have different mandates again states worked together come on. Us one thing is certain it. And i feel like. I can't stress this enough. This procedure does require patients consent. Thanks to films like one flew over. The cuckoo's nest electroshock has received a bad rap throughout the years often simply the mention of act as possible treatment. Option was actually used as a threat so like the doctor would be like if you don't get better or get your shit together. We're in a strap you down and zap you to be fair. Act in the fifty s. What it is today..
The Steve Warne Project - Sports
"each these individuals" Discussed on The Steve Warne Project - Sports
"You know they threw glass bottles at is all sorts of stuff so that those are those are rivalries right now and we'll wait and see steve will wait and see what happens to create it. So they're they're just not they're not there anymore and if the ones that have been as you point out they had the potential and then you say you look at the schedule and go. But they don't play each other again for another and twenty games or another month or something. So yeah fighting. Steve fighting okay goons. They used to be in there fighting dirty play. That creates a rivalry and both teams in good all right and and other other than that. Okay i don't think you're gonna get too many rivalries anymore. We'll we'll see My prediction is with nine to ten games against six opponents. And that's your entire season not not to mention every game playoff implications until somebody you know runs away with it at the top of the standings or falls out of it at the bottom An short season. It's going to be a sprint not a marathon. All that will play into the dislike. The teams have for each other individual players square off against other squirrelly guys and Yeah i i can't say this enough stay with a fifty six games sprinkle in for the other twenty six games these other clubs that come in. You're not going to be able to see everybody every year but you'll see most of them twenty six games That's the way. I would move forward. If i'm gary bettman or bill daley. I think they make a mistake when when they moved back to the status quo. This is going to be a great season. And i'm looking forward to it and it all got into way last night. We'll take a timeout on the program. When we come back an interesting twist to the mike. Babcock hiring by nbc. We'll get to that. After these words everyone knows that to get the best price on home and auto insurance. You have to shop around but who really wants to do that with access to all kinds of insurance markets.
Newsradio 1200 WOAI
"each these individuals" Discussed on Newsradio 1200 WOAI
"Half a day. Getting my people nominated and confirmed in the Senate president elect Biden has also said he wants fast legislative action on another round of covert relief, the plan he intends to put forward later this week, the state of Texas is rolling out Mega Cove in 19 vaccination hubs across the state. Governor Greg Abbott toward one of the science today, saying he was impressed with how many people are getting vaccinated Never before in the history of this state. As Texas back sedated so many people So quickly. While some have complained about the process, not moving quick enough, the governor pointed out. It's been just a month since the vaccine was approved, the vaccination hubs will receive most of the states. Next shipment of covert 19 vaccines this week with more than 158,000 doses shipping to provide her is able to manage large scale efforts as more doses arrive in the state. As Austin's hospitals fill up from covert 19 patients that mayor is calling for more detailed information from area hospitals about their ICU capacity. Boston Mayor Steve Adler tales Kay X, and he expects things to get much worse for Austin hospitals as the Corona virus spreads like wildfire. He says he's most concerned about people in intensive care units I support Total transparency on I think it would be great of all the hospitals talked about what the numbers were in each other individual locations, But the three major hospital systems are balking at that, saying the information changes constantly and they're telling people if they're sick, go to the nearest hospital..