37 Burst results for "One Dollars"
Thinking Crypto News & Interviews
A highlight from SEC GARY GENSLER CALLED OUT FOR CRYPTO FAILURES!!
"The SEC is having trouble hiring crypto experts, you don't say? And SEC Commissioner Mark Ueda is calling out the agency on their lack of rules and regulations around the crypto industry. Also the UK has released their staple coin regulation ban, and a bunch of NFT goers at the Bored Ape Yacht Club NFT convention went blind? Let's break it down. Welcome to the Thinking Crypto podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. Well folks, we've got a report here from Jeff Roberts, who is a crypto editor at Fortune magazine. He said the SEC is having trouble hiring crypto experts because of a rule they must sell all their crypto. He said, would make more sense to allow staff to hold a modest amount. This would also make them better at their job. So the SEC unbelievably is saying you have to sell all your crypto, right? It's not that they have to sell all their crypto, they should obviously have to disclose it and they should understand the technology and be able to use it and test it out. But of course we're dealing with scumbag regulator, Gary Gensler, who's making up all kinds of buddies can come in and take over. Matt Hogan of Bitwise, who I've had on the podcast quite often, he weighed in on the matter. He said, an obvious but unspoken implication of this is that the SEC will be staffed by people who dislike crypto. The only people with crypto expertise and a willingness to divest 100 % of their crypto are deep seated skeptics. This rule enforces a strong bias in hiring. Paul Grewal of Coinbase said, believe it or not, as a federal magistrate judge, I used to have a traffic ticket docket, think national parks, defense bases, VA hospitals. Imagine if the parties had learned a person deciding their auto accident case was forbidden from driving a car. Great points here. Now, Mark Ueda, who's one of the sitting SEC commissioners, and he is a Republican, him and Hester Peirce have both been vocal critics of the agency and on their lack of rules and clarity around crypto, also against many of the enforcement actions. So here's the headline, SEC should consider proposing rules to regulate crypto, Republican commissioner says. So I'm glad Mark Ueda is coming out and saying these things because it can't just be Hester Peirce. And right now, for the most part, it seems like Hester Peirce is outnumbered. So Mark needs to be more vocal, I'm glad he is speaking up. So here's a quote from him, unfortunately, the SEC did not take this approach and instead is pursuing a case by case approach through enforcement actions. As a result, it will take years to reach any type of legally binding precedent as matters will need to wind their way through the courts before reaching the court of appeals level, Ueda said on Monday in prepared remarks in London. So I hope he continues to speak on this, to show the agency is not in a good place, they are not providing clear guidance, they are operating by regulation by enforcement, which is really asinine. While the rest of the world is moving ahead, providing clear regulations. Now Eleanor Terrett of Fox Business highlighted the following, she tweeted, the House Appropriations GOP financial services and general government bill is up for vote before the rules committee at 4 p .m. Eastern before it heads to the floor. It includes an amendment from Tennessee Congressman Representative Tim Burchett to reduce the salary of SEC Chair Gary Gensler to one dollar. It also includes an amendment to defund the SEC for crypto enforcement. So shout out to Representative Tim Burchett, who's bringing the fire here on Gary Gensler. And we got to do these things, folks, to put some pressure. Gary Gensler should be fired and the SEC needs to be revamped. Congressman Warren Davidson has put out a bill, of course, that would revamp the entire structure of the SEC to make it less political and to make it more efficient. So let's see where this goes. But I love that these bills are coming out more pressure on scumbag regulator Gary Gensler. Now here's an interesting update around the Federal Reserve, and it just speaks to government and the lack of knowledge and education in government about crypto. So Matthew Seigel, who's head of crypto research at VanEck, he said, I met a Federal Reserve crypto researcher at a conference last week. He doesn't own any digital assets. He's not allowed to and didn't understand the difference between an exchange and a custodian. Folks, I'm face palming right now. I know you can't see me. And if you're listening on a podcast platform, trust me, I'm face palming right now. He doesn't understand the difference between an exchange and a custodian. God help us, right? These are the people who are trying to regulate crypto and putting out rules and recommendations and papers and so forth. It's unbelievable. But I know there are folks working to help bring education to Congress, and that is blockchain association, the Chamber of Digital Commerce and so forth. So we'll see, folks. We got a lot of work to do. This is why we have to use social media to our advantage to keep tweeting out, sharing the facts and exposing lies and false information like from the likes of Elizabeth Warren and others. Now, the juxtaposition of that is the UK's Bank of England releases stablecoin regulation plan. Remember, the UK had passed crypto regulations, so did the EU. So the US is lagging behind. And folks, stablecoins are going to be part of the token economy and will be a big part of how people transact. So there needs to be regulations. And we're seeing here in the United States, the SEC sending a subpoena to PayPal over their stablecoin, right? It's unbelievable what's happening. So the United Kingdom Central Bank, the Bank of England, has released a plan to govern the stablecoin market. The BOE and the Financial Conduct Authority plan to follow the rules released by the UK government last week to oversee the digital asset industry. As per the UK government's proposal, regulations for fiat backed stablecoins will begin in early 2024. As per the paper, the BOE will regulate systematic stablecoins while the FCA will govern the larger crypto market. UK Prime Minister Rishi Sanak had announced that he wants the nation to become a crypto hub, introducing clear rules for digital assets and crypto firms falls within the UK's goals. The UK's latest plan follows the European Union and Japan's similar moves. Folks, I love that crypto is not a specific asset class to the United States. So even though we're dealing with scumbag regulator Gary Gensler and all kinds of idiots in the government who have not educated themselves, the market will continue to grow and expand globally. So we can at least put our hope in that. Now we got some really weird news coming out from the Bored Ape Yacht Club and full disclosure, I don't own any Bored Ape Yacht Club NFTs, but apparently they had an NFT convention and there was some UV lights and folks who were blasted by this prolonged UV light went blind apparently. So, I mean, this is just wild, right? I don't know what to make of it, but just so you guys know, I don't know if any of you went to any of these conventions or this convention, I should say, but, or, you know, somebody who went to this convention, but this is just some wild news coming out of 2023. So heads up on that folks, I want to end it by highlighting our sponsor and that is Uphold, which is a great crypto exchange this month, they're giving away 50 ,000 XRP. All you got to do is complete at least $20 in trades to be eligible to win and Uphold is a great platform. I trust them. I've been using them since 2018. So if you'd like to learn more, please visit the link in the description. Thank you.
Bloomberg Markets
Fresh update on "one dollars" discussed on Bloomberg Markets
".33 % with a two -year that's yielding 4 .70 Gold down three dollars a ounce to 2040 a decline for gold of two tenths of 1 % intermediate crude down one dollar ninety cents a barrel 75 96 on WTI a drop right now of 2 .4 % what is the difference between Coke and Pepsi for job Coca -Cola offers the best career mobility out of nearly 400 big employers according to a new five -year analysis of 4 .7 million workers rival PepsiCo came in 18th on that same list the data come from the American Opportunity Index that is a product of Harvard Business School the Schultz Family Foundation and Burning Glass Institute a labor -focused nonprofit so
The Bad Crypto Podcast
A highlight from SBF Guilty!
"7 guilty verdicts for Sam Bankman -Fried, Bitcoin ETFs in the future and a happy recovery in crypto prices are all providing the blockchain world with much to discuss. After a couple weeks off, we're back to do the thing we do where we look at top stories and say whatever our brains tell us to say and it'll be super interesting because by the way, Travis is transitioning. More about that in this show. There's no filter, just badness and banter about what's been going on in the crypto world and in our world on this bad news, episode number 701 of the Bad Crypto Podcast. Hey, welcome back to the Bad Crypto Podcast, the show for the crypto curious and the crypto serious. Joel come here. Travis right there. Still your Sir Lords and with you from Puerto Rico, the beautiful island in the Caribbean. How you doing? Doing great. Nice to see you again. Good, sir. You as well. We had a couple weeks off and people are like, are you guys done doing the show? We hit 700 and we're like, done. No, actually we hit that 700th episode and then we were waiting for SBF to get seven indictments and then so he did and then we're like, okay, we can do the show again now that he is going to prison for a long time. Seven the number of perfection. We'll tell you more about what's been going on in our world. But first let's get to the news and tell you what's going on in the crypto world. Timestamp November the 4th, 2023 to 14 p .m. in the afternoon here in Puerto Rico. I know this show is coming out on Sunday, so it might be a little delayed on what you're going to hear here as far as the prices go. But the crypto market cap, according to CoinGecko, is currently $1 .34 trillion Bitcoin, thirty four thousand seven seventy Ethereum eighteen hundred thirty eight dollars BNB two thirty seven XRP sixty one cents Solana forty one dollars. Damn. Why did I sell mine? Cardano thirty two cents and Dogecoin almost at seven cents. The crypto markets have taken a bounce back. Sir Lord Travis, you know what? And one of the things that I am transitioning is I'm selling my home and moving back to the States. And this home is the selling process is taking forever, dude, but I wanted to start selling it. Bitcoin was like at sixteen eight when I decided to sell it in in January. I was like, dude, I thought this house was going to sell quickly. And I was like, I want to get some of that sixteen seventeen thousand dollar Bitcoin might sell us some bitch and then process and this and that in Puerto Rico. And now Bitcoin is freaking thirty, almost thirty five thousand dollars, dude. Like I missed out on doubling of my money right there, which sucks about that. There are. So I just I just want you all know, I want crypto to do I want Bitcoin to go down like about ten grand. I want to I'd like to see twenty five K again so I could snag more of that. I'm sorry to interrupt this show, this broadcast to slap Travis Rice in the head. Yeah, because the rest of us, I mean, yes, I want you to have cheap Bitcoin. But, you know, if this is just the beginning of a bull run, that means that there are lots of opportunities. Remember, our previous high was sixty nine thousand. And most people are expecting us to blow by into six figures this time around. And so we can analyze, you know, what's happening in that world and all of what's driving it. I thought maybe we take a look and just see who are the big winners right now. We mix. Don't know what it is, but it's up 66 percent this week. Well, that's what that's what a deejay does whenever they have a list. They do a we mix. Yeah, we. Yeah.
WTOP 24 Hour News
Fresh "One Dollars" from WTOP 24 Hour News
"Risk reduction and readiness in the out learn more at wiz dot i o that's w i c dot i o i'm ken burger w t o p traffic next we go to steve rudin he's seven news first alert meteorologist cool temperatures for the remainder of the evening and into the overnight lows will drop into the twenties by early tomorrow morning a beautiful sunrise plenty with of sunshine throughout the day high temperatures mild in the lower to middle fifties clouds will crease thursday evening into friday night will see better chance for a few showers temperatures around fifty degrees saturday were trending dry with daytime highs approaching sixty better chance for showers sunday afternoon into early monday i'm seven news meteorologist steve rudin the first alert weather center partial thirty one dollars airport thirty four some parts of our area down to almost twenty degrees during overnight the hours eleven thirty you're listening to wtop washington's news traffic and weather station the wtop producer's desk is wired
Epicenter
A highlight from Guy Young: Ethena - USDe Synthetic Dollar via Delta-Neutral Staked Ethereum Hedging
"Welcome to Epicenter, the show which talks about the technologies, projects, and people driving decentralization and the blockchain revolution. I'm Felix, and today I'm speaking with Gai Yang, who's the founder and CEO of Ethina Labs. Dina is building EUSD, a delta neutral stablecoin backed by Staked Ether. We're going to dive into what that all means, but yeah, first of all, welcome, Gai. So glad to have you on. Yeah, thanks. Awesome. Yeah. So generally, we start more about your personal journey to crypto, you know, Epicenter is mostly about kind of how did people get into the space, what were their vision or why they're trying to work on future of decentralized finance. So yeah, when we start there, how do you like learn about crypto and get into the space and what did you do before? Yeah, sure. So before crypto, I was working at a hedge fund in the US. They focus primarily on financial services. So we're investing into everything from banks to insurance companies, specialty finance, and that was across the capital structure as well. I had a friend who was a DeFi founder back in 2019, introduced me to Ethereum and to DeFi back then. And it was just something that was immediately interesting to me. And I was investing into it on the side of my day job all the way through until when Luna collapsed. And it was when Luna went down, Arthur came out with his sort of thought piece around how we might think about a more secure and scalable crypto narrative step coin. And that's how we sort of landed with the idea of Athena. Yeah, that's a really interesting post there and sort of origins with Arthur's post and also like he's a founding advisor to Athena. And in the post, if you look through it in the ad, it actually says, right, if I find a team that does this, let's do it. So that recall you guys found each other there, I guess, we'd be curious to hear actually how that went down. Did you reach out to him? You started building it and then later when it had some shape, you were like, hey, Arthur, it's happening? Yeah, that's exactly right. I thought we wanted to flesh out the idea a bit. So you actually had a bit of a game plan and architecture behind the whole thing and a business plan that actually made sense that he could get behind rather than just sort of putting our hands up. So we put that together, had this sort of design and everything ready to go. And then had a connection into Akshat, who's the guy who's running his family office Maelstrom, had a few calls with them and then got introduced to Arthur directly there. Awesome. Yeah, that's pretty cool. So I also like, I guess, for our listeners, I think many people know Arthur Ace, right? It's like BitMax founder and like a sort of person that's very famed in the crypto space around macroeconomics and trading in general. And he wrote this post called, actually, I don't know, Dust on Crust, I think. It starts about skiing and kind of draws parallels to the crypto space. I think in general, Arthur is a pretty great writer. So I recommend reading some of his blog posts. And it goes into this idea of the NACA dollar, which is essentially sort of a new type of stablecoin that he was thinking about that is based around derivatives and sort of hedging out the price risk of cryptocurrencies. But we'll get into that. I think I wanted to start because I guess stablecoins, like huge topic. You also already mentioned Luna there, right? In general, stablecoins seem to be one of the kind of use cases of crypto that has gotten the most traction. So yeah, I wanted to kind of get your view of the history of stablecoins in the space. What did you find interesting and what was lacking, like going from DAI and these sort of like more centrally backed stablecoins? Can you just kind of talk through a bit how you were thinking about stablecoins before you started Ifti now? Yeah, sure. So the history of stablecoins goes all the way back to Tether and it was originally called Realcoin back in 2014. And then they launched officially as Tether on Bitfinex back in January 2015. So that really the key innovation there was a lot of the crypto businesses that existed were really struggling with banking relationships and being able to off -board and to interfere. And really the only innovation that they had there was if Tether could get the right banking rails set up, you only really needed them to be able to do that as sort of an off -ramp to the real world. And then everyone else within the crypto ecosystem could rely on Tether as transactional money within the space. And so that was really the first use case, which was just a trading pair on exchanges. And it's obviously evolved pretty significantly from then onwards. After that, I think actually the origins of Athena was probably the next example of how a stablecoin -like asset sort of surfaced. And so it was actually on Bitfinex where everything was BTC denominated. So single every instrument that in order to margin the derivative required Bitcoin as the collateral asset. And so if you wanted to get into a flower position, they got a short inverse perpetual against that BTC collateral. And that would in effect create a synthetic gold position out of those two things and ending off. And really that's kind of the origin of the Athena story, which is what we're trying to do is tokenize and export that as an actual product rather than just a trade that was sitting on Bitmax. Since those days of Bitmax, I think you saw a few different evolutions going away from the centralized model of stablecoins. So you saw MakerDAO and originally it was called SAI with single collateral being ETH and then move to DAO, which allowed different collateral types to come in there. At a very basic level, what was happening is you're putting up collateral on one side and then you're able to borrow the stablecoin into existence on the other. Really the key moment though for MakerDAO was in the March 2020 crash where the system basically became insolvent with what happened with the price crash in ETH. And in order to actually remedy that situation, they needed to onboard USDC as a collateral asset there. And so I think really that changed the course of history for MakerDAO where they sort of made the decision that they were going to take on centralized assets and that fundamentally sort of changed the actual profile of DAI as an asset going forward. And now you sort of look at it and it's more than 50 percent centralized assets, whether it's or RWAs USDC sitting in there. And then we obviously get to Luna. I think everyone's pretty aware of what went on then, happy to sort of jump into what we think went right and wrong there. But I think it's a pretty well spoken story at the moment. All right. Yeah, totally. I think very interesting to hear that I guess on BitMEX there was already this product there, but I guess it was only on the exchange, right? It didn't make its way into on -chain or DeFi. And that's sort of what you were after, since that also has evolved a lot. So it goes back quite far, which I guess most people maybe don't know. I think you were also mentioning in some of your materials the stablecoin Phrylema. Can you sort of expand on what's the trade -offs that stablecoins generally make and then how Athena fits in that? Yeah. Well, I think Trilemmas are used quite a bit within pitch decks in crypto, I think to make up problems and pretend that we're solving them to get a capital raise. But I think actually the Trilemma as it relates to stablecoins is actually a very real one. So the basic idea here is you've got decentralization, scalability and stability, and you only can really have two of those three components. We personally think that it's a pretty unhelpful sort of definition of the world where if you're focusing on these words, which are just very broad, like decentralization and scalability, it's quite unhelpful to actually say, are you actually attaining those qualities that you're actually after? And so for us, we're trying to think a bit more deeply about what are the more narrow qualities of each of those three pieces that we actually want to try and retain within our product. And what we arrived at is within this decentralization phase, what is actually the base that you're trying to solve for here? And that is actually having censorship resistance. So for us, that meant you don't want bonds or real world assets sitting within SPVs or banking structures in the real world, which a regulator or some of the entities can come in and shut down in the space of the day. And so for us, that was really the piece that we were trying to unlock. And it's something that was echoed in the sentiment of Arthur's piece, which is you're not actually trying to create a purely decentralized stablecoin because I don't actually think that they exist in reality. What you're trying to do is create a stablecoin, which is independent of the fiat system. And that's actually the quality that you're going for. So for us, yeah, like I said, it's a more narrow definition that we're going for. I don't think we've solved anything when it comes to the trilamor that's sort of presented as it is. But we are more narrowly defining what it is that we're trying to achieve. And in doing so, I hope that we're just presenting something that's honest to our users in terms of the type of trade -offs that we're making. Let's get into this in a sec. I think another one that's very common, like fear or concern in the stablecoin space, especially around Tether, is sort of this transparency angle. Is that kind of related to the censorship resistance for you or how do you think about that? Since I guess in Tether's case, many think, is the backing actually there, there's not enough audits? And yeah, is that something you're addressing as well? Yeah, 100%. So I think we felt like we weren't leveraging the openness and transparency of DeFi within our product. We'd be doing our users a massive disservice with the way that we put it together. So it does look slightly different here because we are leveraging centralized liquidity to put on the hedges. And we can jump into the reasons for that later on. But what you do have are wallets where you can see where the collateral is actually sitting. And then the corresponding hedges that offset that collateral, you can obviously just have a read from the exchange APIs to display that. So really what we're trying to do is elevate the local transparency here well beyond anything that you see, even from like a USDC where you're often waiting a month to get watered down or the reports come back. And here you can see a real -time dashboard of every single cent of collateral and hedge that sort of corresponds to that. And we think that showing that to our users and being fully transparent about it is the way that we really want to present the product to our users. Right. Yeah. Let's definitely get a bit more into this. I think maybe we take it back a bit around this actual principle of how the stable coin is created. So I guess in Athena it's called EUSD. And it mostly relies on this principle that you already said that you have the long asset, the core asset and a short position against it. Can you explain that maybe in a few sentences again for our listeners that maybe are not so familiar with financial products? Yeah, for sure. And maybe just before we jump into that, I know we've mentioned stable coins a few times on this. I think it's a word that we as a team have been thinking a bit more deeply around in terms of how we're marketing these type of products to people outside the space. So I just wanted to be clear before we jump to the mechanics that really the risks around this product look very different to having a normal stable coin with bonds basically sitting in a bank account in the real world. And so I think we're just thinking about repositioning the way that we describe the product as something that is closer to that synthetic dollar concept that I described earlier on. And yeah, really what goes into the synthetic dollar idea is you have, in Arthur's case, his idea was long BTC on one side and then short inverse perpetual on the other. And the basic idea there is that for every percentage change in the underlying collateral, those two positions are essentially netting off so that you always have one dollar of collateral that's in and out. One key change that we made to Arthur's post was thinking about swapping out Bitcoin for a stake Ethereum. There's a bunch of different reasons why we thought that that made sense. The main one being that you now have a positive carry to being long stake Ethereum. So you get paid some yield that's ranged between three and a half to six percent this year. And what that does is not only enable you to create what we think are really interesting yield products around the synthetic dollar, but then also it gives you a really interesting margin of safety because these hedges often do pay you to be short. So over the last three years, you get paid roughly seven percent to be short the ETH contract. But that's not always the case. And sometimes it is negative. So for periods during 2022, when the whole space was blowing up and centralized entities were getting liquidated, you did see that sort of briefly dip into into negative funding territory. And so having that stake return on one side obviously helps for you to be able to cover that risk as well and just create a more secure product. Right. So this funding rate, just to go into this a bit more, right, if you're shorting pay this funding rate to the other side, essentially. Right. And usually you get paid for putting on the short. So it's you can sort of think about it as there's a natural long demand for leverage within the system. And crypto is a long biased market where most people who are in the space think it's going up. And so they're willing to pay for that leverage to be longer than one X they're not worth. And so in our case, we're taking the opposite side of that position with a short and they're getting paid for that. But essentially the underlying to what if it's like negative or positive, the funding rate is essentially like a market dynamic of like supply and demand for short longs. Right. Yeah, exactly right. Yeah. Okay. And you mentioned already. So they that mostly it's like long bias, I guess we'll maybe get into a bit more like how this could turn out in the future and things. But I guess one other question that I had around, you know, like you already said, you know, switching out Bitcoin for Ether, but is there also a potential to, you know, have multiple assets as collateral in a system like also Bitcoin maybe or even like other proof of stake assets? Yeah, absolutely. For us, it's really just a question of sequencing. So Bitcoin's obviously got the deepest derivative market sitting behind it, but it's obviously got that issue of not having as much interesting yield for you to be able to create a product. And so the way that we thought about this is in order to bootstrap something from zero and, you know, fund an insurance fund that can sit behind the whole thing and ultimately actually just drive demand for it, we know that people within crypto respond to yields. And that's how you can sort of address that cold start problem in the beginning by interesting people with something that has a bit more yield. But as we sort of grow in scale and you start to tap out the potential of derivative market and staked Ethereum, you can obviously generalize that to look at Bitcoin and then also other proof of stake assets like Solana. The issue here is that on one hand, Bitcoin's more scalable due to the size of the derivative market that exists around it, but you don't have the yield. But then on the other hand, you've got something like Solana, which, yes, it's got a proof of stake yield that's attached to it, but the derivative market is like a 20th of the size of Ethereum. So really, it is a question of sequencing for us. But who knows where these markets grow over the next three to five years. But we are sort of restricting ourselves to staked Ethereum, aren't they? Right. Yeah, makes sense. Makes no sense. I think what's also interesting, I guess, is this insurance one you just mentioned or like sinking fund, I think it's called in Arthur's post. So like that's basically for these periods where the funding rate goes negative. Can you like expand a bit? How does it exist in how are you building this? What like sort of, I guess, portion of the yield is diverted to that? How do you how are you thinking about the system to do that? Yeah, you can you can think about the sources and uses for the insurance fund in basically two ways. So the first is just raising capital. So when we're raising capital at the equity for the Ethereum Labs business or within the if we eventually have a token and do treasury sales through that, you obviously have an ability to basically raise dollar capital in exchange for the equity yield tokens. And I think that that's just a pretty clean and easy way to get to get an initial insurance fund set up. The other interesting piece about this is to the extent that you're generating yields on the product that are above market. So roughly this year, this product has been running at around 12 percent unlevered. And that's with crypto rates being pretty close to the low of their cycles versus like the real rates in the real world at 5 percent. What's interesting there, I think, is, yes, initially you want to pay out most of that yield, I think, to users in order to sort of bootstrap liquidity and supply in the beginning. But there does come a point where that interest rate differential to rates in the real world. I'm not convinced that you need to pay out the full amount to keep sort of users in the product. And so there might be an equilibrium where, you know, rates in the real world are at five, four, three. And this product's at 10, 12, 15. That obviously gives you some scope there to be able to capture some of that yield to the insurance fund going forward. I think the interesting piece about that is obviously, as I mentioned, funding is typically skewed positive where you get 7 percent over the last three years. And if you just look at the distribution of sort of the days of positive funding versus negative, when you include the stakeholder yields, you get 89 percent of the days you're getting paid and you can add cash to the insurance fund and only 11 percent where you're going to be drawing from it. So really, it is in your favor that you're going to be accumulating cash into the insurance fund through the life of the product. And we think it's quite interesting because you're capturing, you know, some value within the token, within the product and actually helping to create a more safe and secure product going forward by capitalizing the insurance fund. Right. Right. That makes sense. And then I guess if it turns negative, the insurance fund would like sort of subsidize that to get the yield back for a while. Is that sort of the mechanic that it would? Yeah. Well, what itself performs is zero in that case. So we don't want to be in a position like with what you saw with Anker and Luna, where I think actually creating that inflexible endogenous interest rate there, I think was one of the biggest mistakes that they made because you really need external market forces, I think, to be calibrating the supply of the whole system. And whenever you're stepping in and trying to pay more yield than it's naturally producing, I think it's just a bit of a slippery slope where it eventually leads to breakages in the system at some other point. And so really what the insurance fund is doing there is when it would be negative, you're just getting it to zero so that, you know, users aren't losing principle in the stablecoin. And then naturally what's going to happen is when you get paid zero percent to hold the stablecoin, we expect that some users would step out of the product. And in the process of doing so, we'd have to lift the shorts on the exchanges, which causes funding to mean Roberta going back above zero. So just to be totally clear on this one, the funding rate is not something that we're scared of. It really is like core to the whole design here, which is we want users to be responding to positive and negative interest rates. And when it does get too low, that means the supply of the stablecoin is too high relative to dynamics in the rest of the market and it needs to shrink. And we're not going to stand in the way of that. Right. I read this tweet where you answered basically some concerns of like each and Spartan there. And I found it very interesting that essentially the stablecoin can adjust by just people withdrawing and then you're closing out the shorts, like you just said. But there's also the just like general mechanics are not as many people might think, I think, in the that are like scarred from from Luna that it would be like totally collapsing at once or it's very, very hard to do that. Can you can you explain maybe why the like a deep hacking wouldn't be like, you know, from one dollar to zero versus instead maybe going like more gradually losing value in this sort of case? Yeah, for sure. So I think the the the key difference here is that you've actually got the collateral sitting behind the stablecoin. So Luna was obviously backed by basically just the faith that the Luna token had some sort of value and then market maker's ability to stand in and save the system a bit like a central backward in the real world. And the key difference here is, yes, even if you do have some of these issues and there are other risks outside of the negative funding, but we can just focus on this one, even if it does go negative, if you look at sort of the bottom twenty five centile of funding, are you like the worst quarter of where funding gets to, it's typically around sort of the negative five percent range. If you think about that on an annualized basis, if you're bringing that down to a daily attrition that you'd see within the stablecoin, it's literally one basis point per day. Right. So it's like not even comparable to a swap on curve or a little bit of slippage that you'd be paying like anywhere within this entire system. That's how much you're losing every day if this thing is at like the bottom quartile of the funding. And so really the risks are very different here where if something is going wrong, it's a very slow, gradual attrition of the principal of the stablecoin rather than something that sort of collapses to zero in the space of a day like you saw with Luna. Right. Totally. I think that's very interesting. I think maybe we can get a bit into like technically how it works. I think the interesting piece in Isina's case is I guess it has like the sort of interaction between CeFi and DeFi. So like there's there's elements on chain and there is like interaction with centralized parties. Can you just explain how that works and why you need that maybe? Yeah, for sure. So this is something that Arthur was pretty interesting on on his piece, which is the demand for this type of product we think is is here right now. And it's it's a product that sort of the need is immediate and urgent. And we don't really have the time to be able to wait for perpetual DEXs on chain to go to a size that would be able to accommodate for it. So centralized liquidity, rough numbers is between 25 to 30 times larger than what you see on chain. And part of the issue is that even on -chain DEXs, they're not a single unified source of liquidity. So you have Synthetix sitting on Optimism, you got GMX and Arbitrum, you got DYDX doing their app chain on Cosmos. These are all disparate areas and pools of liquidity, which you can't even sort of aggregate into one place to try and build this product. And so for us, it was really accepting the fact that you needed centralized liquidity in order to get this to scale, to achieve the goals that we have as a team and deliver a product that we think is useful for millions of people rather than thousands. And given that fact that you need to make those trade -offs, we ask ourselves the question of, can you do that in a trust -minimized way while you still retain the core pieces of decentralization that we care about? And so just going back to that original point that you're making around the trilemma, for us it was really asking a more narrow question of what is it that you actually care about when you have your assets on an exchange and what is it that you're trying to protect yourself from? And for us, it's really just you don't want your assets sitting on a centralized exchange. And so we've seen this over, if you have FTX 2 .0 out and again, where you want to be able to hold your assets and make sure that a centralized exchange is not going to basically withhold you being able to take them out. And so we've seen really interesting unlocks when it comes to custodian setups that have been put in place since FTX, where you have an ability now to hold your assets outside of the exchange, but then still use them as a marketing instrument for the derivative on the other side. And so what that unlocks is our ability to be able to, A, provide the transparency that I was describing earlier, so you can actually see those wallets and be able to read into them as a user on the other side. And we'll be providing that in dashboards on the app. And then B, it reduces that counterparty risk to the exchanges obviously enormously by being able to disaggregate the assets from sitting on that service.
Bloomberg Radio New York - Recording Feed
Monitor Show 14:00 10-12-2023 14:00
"Looking for a convenient place to get that big fitness energy? It's Planet Fitness. Now through October 13th, you can join for just one dollar down, ten dollars a month. We've got over 2 ,400 locations with most open 24 hours. Join now to enjoy free fitness training and equipment for every workout. Whether you're new to a gym or a fitness pro, the judgment -free zone is the place for you. Join Planet Fitness today for one dollar down, ten dollars a month, no commitment. Cancel anytime. Deal ends October 13th. See Home Club for details. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Now from our nation's capital, this is Bloomberg Sound On. The Biden administration says we're making good at a long -held promise. ballooning budget deficits in Washington. We're in a bizarro political world here. Bloomberg Sound On. Politics, policy and perspective. From DC's top names. Most people, including most Republicans in Congress, understand that we need to get aid to Ukraine. Who's going to take us in a rational way into the future and lead our country? This has really become kind of the new frontier in American politics, is this battle between red states and blue cities. Bloomberg Sound On with Joe Matthew and Kaylee Lines. On Bloomberg Radio. The U .S. offers charter flights out of Israel. Welcome to hour two of Sound On. As the administration moves to help people leave the country who are looking for a way out and we're joined ahead by Congresswoman Nicole Maliatakis, who is helping to lead the push to get New Yorkers out of country. The Republican will also give us an update on the fight for speaker, which continues here. We'll discuss that later with Bloomberg politics reporter Mike Doerning and data today on inflation. We'll be joined from New York by Bloomberg economics editor.
Bloomberg Radio New York
"one dollars" Discussed on Bloomberg Radio New York
"The battleship's fleet of battle vessels arrived in the eastern Mediterranean to send an American message to Hezbollah and its Iranian sponsors to not get involved. There has been some small bits of activity from the north but so far nothing dramatic. I think that the core of his message is likely to be we're behind and you then secondarily but you know you need to really not go crazy. There is a sense that the Israelis are so horrified but what happened on Saturday that they are they may take a little less care than they should or have in avoiding the worst effects on civilians in Gaza. I just can think that Secretary Blinken is likely to warn them against going too far. Hear the full conversation on the latest Bloomberg Daybreak US edition podcast. Subscribe on Apple, Spotify and anywhere else you get your podcasts. Plus listen anytime on the Bloomberg Daybreak. Together we have the opportunity to build a more sustainable and inclusive future. At the Bloomberg New Economy Forum we help make this possibility a reality by cultivating new connections among global leaders that transcend geographies, industries and ideologies. Because when global leaders together work the outcomes benefit all of us. Learn more at Google .com. Now through October 13th you can join Fitness Planet for just one dollar down ten dollars a month. With free fitness training and most clubs open 24 hours it's the most convenient place to get that big fitness energy. Join for just one dollar down ten dollars a month no commitment cancel
Bloomberg Radio New York
"one dollars" Discussed on Bloomberg Radio New York
"Place to get that big fitness energy. Join for just one dollar down. Ten dollars a month. No commitment. Cancel anytime. Deal ends October 13th. Right aviation now companies like Lufthansa Technik are using virtual reality training to help their mechanics practice crucial engine maintenance skills, helping them prepare for real repairs. Learn more at meta .com slash metaverse impact. Together we have the opportunity to build a more sustainable and inclusive future. At the Bloomberg New Economy Forum, we help make this possibility a reality by cultivating new connections among global leaders that transcend geographies, industries and ideologies. Because when global leaders work together, the companies benefit all of us. Learn more at bloombergneweconomy .com you and you could be me for just one hour if you could find a way to get inside each others mind. Walk a mile in my shoes. Walk a mile in my shoes. We've all felt left out and for some that feeling lasts more than a moment. We can change that. Learn how it belongingbeginswithus .org. to Brought you by the Ad Council. Walk a mile in my shoes. News when you want it. Get the latest headlines with Bloomberg News Now. Apple taking the of wraps its latest smartphone. Former President Trump has taken another legal setback. The top stories from Bloomberg's Global team of reporters at the click of a button. US officials pushing to help you frame. Get the latest news when you want with Bloomberg News Now. One of the biggest public offerings of the year. Listen on bloomberg .com. Bloomberg Business App. And anywhere you get your podcasts. Bloomberg News Now. Context changes everything. And what you doing with your phone? Taking pictures? No, I'm asking questions. Like what? Hey Bobo, do flowers have best friends? I'm sorry. I'm afraid I don't know that. Hey, Hey follow me. I want to show you something. Flowers Some answers can only be found in nature. Discover the unsearchable. Visit Discover the forest dot org to find a trail near
Bloomberg Radio New York - Recording Feed
Monitor Show 16:00 10-06-2023 16:00
"Looking for a convenient place to get that big fitness energy? It's Planet Fitness. Now through October 13th, you can join for just one dollar down, ten dollars a month. We've got over 2 ,400 locations with most open 24 hours. Join now to enjoy free fitness training and equipment for every workout. Whether you're new to a gym or a fitness pro, the judgment -free zone is the place for you. Join Planet Fitness today for one dollar down, ten dollars a month, no commitment. Cancel anytime. Deal ends October 13th. See Home Club for details. I do like the sound of the bells here because it means we're getting closer to the weekend here. And what we're shaping up to be a really, really awful week for the market. It's looking a little bit better here on this Friday afternoon. We should point out the Dow Jones Industrial Average is higher by more than 200, almost 300 points on the day. That's about a gain of about nine -tenths of a percent on the day. Now we should point out it's still lower on the week, not enough to erase the losses that we saw from the previous days. The S &P 500 did erase its losses from the previous days. Higher by 1 .2 percent, and that's good enough for a weekly gain of about half a percent or so. Similar story for the NASDAQ Composite and the NASDAQ 100, up about 1 .6 percent, which is roughly what it's up on a weekly basis as well. And the Russell 2000 did get in on the action today, up about eight -tenths of a percent. But remember, it was a big laggard earlier in the week, and those losses still sticking down two percent on a weekly basis. Do I have this right? Maybe not. I'm looking at the S &P 500 for the week overall. Do you want to guess what the best stock -performing in the S &P 500? Isn't it like market access or every life sciences or something? Yes! How do you know that? It's a fixed income. I looked that up earlier actually. Why does that surprise you? It's a fixed income electronic trading platform. It's not a name we talk about a lot. I'm just saying. No, I was just going to make the point here about the bond volatility and and all the interest right now in that space. And we had a lot of folks on TV, including Hamelman Reiner and a few other folks who really just talking. There's a lot of appetite for this right now.
Bloomberg Radio New York
"one dollars" Discussed on Bloomberg Radio New York
"To avoid a potential government shutdown in the middle of next month when conservatives have really stuck firm with their demands see from Democrats. Yeah and Nathan, that really raises the risk of a government shutdown in mid -November. Funding runs out on November 17th and it was already a serious risk. They just narrowly averted one this time, but there's really a question of whether this would even be more risky than the previous one given the fact, first of all, that they have to come up with a Speaker here. This is going to be a tough process. It took Kevin McCarthy 15 rounds and he was really sort of the only one on the ballot, so to speak. This time there will be more people and without the Democrats, with the Democrats seeming to go for none of them, it's really going to be hard to get there, which means that takes time and it will be, you know, we're talking only about five weeks away and it will be tough to see how they get there. In the time we have left, Jody, I want to turn to our reporting from our Bloomberg News team in Washington about about the intelligence networks that the Biden administration is building with allies in Asia. What does this entail? Yeah, so the U .S. is really deepening its cooperation with countries across the Asian region wanting to counter China's sophisticated spying apparatus and basically blunt China's cyber attacks. The Biden administration developed a set of separate but overlapping partnerships in Asia including what they're calling an intelligence sharing instrument with the quad grouping, U .S., India, Japan, and Australia. This is according to officials who ask not to be identified. This includes trilateral partnerships among the U S, Japan, and South Korea and one among U .S., Japan, and the Philippines. Thanks so much, Jody. having Good you on with us once again this week. Jody Schneider is our political news director for Bloomberg Radio and Television. Read more about all these stories, particularly on the speakership fight and the implications for government spending, whether the government's going to stay open as we head into the holidays. Read it all on the Bloomberg Terminal and follow all the latest on Bloomberg Radio in Washington, Bloomberg 99 .1 and 105 .7 FM HD two. Turning our focus to the market open this morning. are Futures pointing just a little bit lower with S &P and Dow futures both down about two tenths of one percent. Actually, Nasdaq futures are holding on to a two tenths of a percent decline as well. The 10 year Treasury is up free 30 seconds. Say Treasuries are up a bit this morning. The benchmark at 4 .72 for the 10 year Treasury yield. This is Bloomberg. This is Caroline. Now through October 13th you can join Planet Fitness for just one dollar down ten dollars a month. With free fitness training and most clubs open 24 hours. It's the most convenient place to get that big fitness energy. Join for just one dollar down. Ten dollars a month. No commitment. Cancel anytime. Deal ends October 13th. See you. We'll be right back. Thanks for watching. build a It's time to more sustainable and inclusive future at the Bloomberg New Economy Forum. We help make this disability a reality by cultivating new connections among global leaders that transcend geographies, industries and ideologies. Because when global leaders work together the outcomes benefit all of us. Learn more at bloombergneweconomy .com
Bloomberg Radio New York - Recording Feed
Monitor Show 12:00 10-04-2023 12:00
"Looking for a convenient place to get that big fitness energy? It's Planet Fitness. Now through October 13th, you can join for just one dollar down, ten dollars a month. We've got over 2 ,400 locations with most open 24 hours. Join now to enjoy free fitness training and equipment for every workout. Whether you're new to a gym or a fitness pro, the judgment -free zone is the place for you. Join Planet Fitness today for one dollar down, ten dollars a month, no commitment. Cancel anytime. Deal ends October 13th. See Home Club for details. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. All right, coming up in this hour, we're going to check in with Michael McKee, Bloomberg's International Economics and Policy correspondent. Looks like we got kind of yield stabilizing here that's pushing markets higher, so we'll get his look outlook on the economy. Margie Battelle is going to join us as well. Senior Portfolio Manager at Allspring Global Investments. We're going to get her market call. Then our C -suite conversation of the day, Brian Fairbank, CEO of a company by the name of Trex. T -R -E -X discusses the home building business. We need more homes, presumably. Steve Rappaport joins us right now. We're going to get a Bloomberg Business Flash. Kick everything off. Good morning or good afternoon. We check the markets all day long here at Bloomberg.
Bloomberg Radio New York - Recording Feed
Monitor Show 06:00 10-04-2023 06:00
"Looking for a convenient place to get that big fitness energy? It's Planet Fitness. Now through October 13th, you can join for just one dollar down, ten dollars a month. We've got over 2 ,400 locations with most open 24 hours. Join now to enjoy free fitness training and equipment for every workout. Whether you're new to a gym or a fitness pro, the judgment -free zone is the place for you. Join Planet Fitness today for one dollar down, ten dollars a month, no commitment. Cancel anytime. Deal ends October 13th. See Home Club for details. 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. From the Bloomberg Interactive Brokers Studios, this is Bloomberg Daybreak for Wednesday, October 4th. Coming up today, a house divided. Kevin McCarthy is ousted as speaker after just nine months. Now Congress is in limbo with no clear successor in sight. The judge in Donald Trump's civil fraud trial issues a gag order. And the global bond sell -off continues, driving yields to the highest level in more than a decade. A mass shooting at a Baltimore University leaves five wounded. Plus, New Jersey Governor Murphy once again takes aim at congestion pricing in Manhattan. I'm Michael Barr. More ahead. I'm John Stashow on sports. The baseball postseason underway with wins by Texas, Minnesota, Arizona, and the Phillies. They'll all play game two today. That's all straight ahead on Bloomberg Daybreak. On Bloomberg 1130 New York, Bloomberg 99 .1 Washington, D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM119, and around the world on BloombergRadio .com and via the Bloomberg Business Act. Good morning. I'm Nathan Hager. And I'm Karen Moskow. And S &P futures are little changed this morning. So are Dow and Nasdaq futures and the yield on the 30 -year Treasury 4 .0.
Crypto Banter
A highlight from Don't Miss The Massive Friend.Tech Airdrop.. (How To Qualify)
"FriendTech is back. Last week everyone was saying it was dead but today we're seeing volumes shoot through the roof, we're seeing transaction volume go parabolic, all off the back of new airdrop information which I'm going to share with you today. So we're going to go through exactly what the FriendTech airdrop is, how you can get involved if you're interested and go through some of the maths behind it to work out how much users or recipients of the FriendTech airdrop could potentially make. Let's get straight into all the alpha in today's show. In case you don't know what FriendTech is, it's essentially a social fire platform that allows you to buy shares or keys in your favorite creators. These creators can then have private group chats where they share all sorts of exclusive information like crypto alpha, photos, etc. So basically think of it like a private gated like telegram group except instead of paying like a monthly fee you simply have to hold a creator's keys that you can purchase using ethereum. Now of course it's super lucrative for the creators because they can essentially make money off the trading fees that are generated by people speculating on their platforms and it's also super lucrative for the project because they're obviously making trading fees from the platform and it's seen FriendTech make over five million dollars within its first month which is one of the most successful startups of the last few years technically from a crypto revenue perspective. So why is it having a resurgence again today? Well essentially we have new details on the airdrop. So first I want to go through the data. There is now 14 million dollars worth of TVL locked in the platform. You can see over the last couple of months this has continued to increase so despite volumes dropping off for FriendTech as we can see there was a clear lull towards the end of August into early September. The TVL has maintained fairly positive so there has been I guess net inflows into the platform as people bridge ETH onto the platform to speculate on creators but in terms of transactions we can see that we've started to see an uptick again over the last few days so it was super popular and everyone was talking about it on the 20th of August. It started to slow down a little bit into September but it's getting right back up there again in terms of transaction volume and as I said before five million dollars in revenue collected this month by FriendTech. Now here is the very interesting bit. The reason everyone is getting back onto FriendTech and getting super excited about it again is because of the potential airdrop and we've seen over the last week how FriendTech has actually chosen to distribute points. So we can see the leaderboard of all the top holders so we can see Christian, ETH, Racer, the founder has 192 ,000 points, some of the well -known key figures on crypto twitter, Hasaka with 160k, Kobe with 160k, Zhu Su with 71k. These guys are the ones that are leading in points. Now how do you actually get points? Well there are a few ways. Refer people to the platform, that's how you can accumulate points. You can launch your own key and trading volume comprises a percentage towards your total airdrop every single Friday because they give out the airdrops every Friday but it's just been revealed that actually the most important component of earning points is not actually trading volume but it's holding volume. So it's the amount of total keys that you hold on the platform denominated in ETH which is of course the main currency of the platform. So Caleo did a tweet he said I'm up to 17 ,500 points here's what I've learned. FriendTech's rewarding collectors at a higher rate than creators. Trading volume on your keys does matter but more than anything else FriendTech is waiting portfolio value. I've had multiple members of my chat who have higher portfolio values than mine but much lower key prices outpace me in coin farming. So essentially this indicates that FriendTech is waiting a higher airdrop percentage towards the people that are simply holding creators and investing in creators keys. Super interesting. So what will this translate to in terms of a dollar amount in an airdrop? Because you know points of points they don't actually mean anything. What could the points potentially be worth? Well I did some maths and I looked through some of the key models and it appears to me that the most likely suggestions for a potential FriendTech price vary between like 50 cents of one dollar. So if we take like the conservative angle and say that 60 cents will be the price of the token if it launches and we have no way to tell we're just kind of going off the amount they raised versus the amount of activity on the platform. But let's say they are worth 60 cents then what you would see is if you hold one ETH worth of creators across the platform a $210 worth of ETH yield per week so that equates to around a 0 .13 return per week. So to put that again if the token launches at 60 cents a conservative estimate the airdrop would equate to $210 worth of ETH per week per Ethereum in tokens that you hold on the platform. So that equates to around 0 .13 percent return per week on your ETH. If you you know make that an APR so make that a yearly figure that's around 600 percent per year. Now you can see David G in front of us did the calculations if the token's worth a dollar. He said that that equates to 0 .21 ETH per week which is compounded 1100 percent APY and at two dollars per point you would make 0 .42 ETH per ETH of keys held over a given week which is 2200 APY. So what is this telling us? Well basically FriendTech is one big yield farm. That is the biggest value prop for the platform right now and that's why creator volume is starting to uptick and that's why key prices across the board are starting to uptick because people are staking their ETH on FriendTech to earn these points because now they know that holding creators is the number one prerequisite for an airdrop and they're saying if I put one ETH into creators on the platform I'm going to be receiving between 0 .13 percent if it's a 60 cent token and 0 .4 percent if it's a two dollar token when the airdrop finally happens and this basically makes it like a yield farming opportunity in essence if you're working out those calculations based on a potential airdrop. So it's super interesting and of course as a result a lot of creators have skyrocketed. Look I'm going to show you my FriendTech price for example. I don't really promote this. I don't really shill it. I do a little bit of posting to my group just to talk people on there and have some fun but I'm not like you know super serious about content on there like other creators are and even my keys went from a floor price of 0 .08 all the way back up to 0 .22 today. Now this has happened obviously because a lot of people are now buying into creators because they want to stake their ETH on the platform for a potential airdrop but it's coincided with something interesting. It's coincided with a lot of platform upgrades because when the platform first launched it was essentially unusable like it was a piece of trash and to an extent it still is a piece of trash but it's getting a lot better. They added photo integration. Soon they are going to be adding live streaming. They've added replies so creators can reply directly to chats instead of just seeing one log of chats on the feed. So it is getting better and the platform over time is becoming a lot smoother. Like comparing my user experience today compared to the first day that I used FriendTech it's been a monumental increase in usability and if they can continue this pace of shipping code and continue this pace of upgrading the platform then I think we're actually going to have a decent product. So to all the FriendTech bears I don't think like there's an explicit reason to be like super bearish on FriendTech. You could be super bearish on like creators pricing potentially being overpriced in the short term but in terms of the platform itself I think it's a cool concept and they're continuing to improve it and clearly the airdrop has you know given people a huge incentive to get back onto the platform. By the way for people asking what I'm going to do with my FriendTech I mean I'm just going to continue chatting to people in there maybe posting some alpha and if the platform gets better I will look at you know wrapping up my posting or offerings over there right now. I just want to make promises on there right now and say I'm going to do all this stuff you know if the platform can't actually justify me doing all that stuff. So I'm just going to wait and see but for now I'm talking to people in there I am you know hanging out with my community in there so that's basically you know what I'm offering over there for the people that have been asking me on Twitter what I'm doing over on FriendTech. So what can you do sitting here watching this video well I mean I think there's a certain element of risk if you're depositing Ethereum now into the platform solely to airdrop farm because you know you don't want to buy creators keys and then get dumped on and get an airdrop but it's still not enough to make up for the losses capital losses that you made on the ETH. So be very careful if I was airdrop farming on the platform and I'm not like explicitly going out of my way to airdrop farm but I'm doing it inadvertently through the ETH that I already have on the platform I think I have like one to two ETH on the platform.
Coin Stories with Natalie Brunell
A highlight from Ricardo Salinas: Mexican Billionaire on Bitcoin, Building Wealth, Capitalism and Legacy
"This is not a question of left and right, it's free and slavery. It's freedom and irresponsibility or irresponsible theft. Welcome to the Coin Stories podcast, where we get to explore the future of money, business, technology and Bitcoin's revolutionary promise to boost economic prosperity around the world and mend our broken financial system. I'm Natalie Brunell, and I'm here to learn with you. This podcast is for educational and entertainment purposes only, none of the discussions should constitute as official investment advice, and you should always do your own research. Please make sure to subscribe to the show so you don't miss out on any new episodes. This podcast is made possible through partnerships with companies I trust, and I'm very picky about who I choose to partner with, so I hope you take the time to listen to the ad reads throughout the show. Thanks for joining me, and if you like this type of content and want to see more of it, make sure to hit that like button. All right, it's time for the show. Ricardo, first of all, it is such an honor. Thank you so much for taking the time. Thank you, Natalie. I just learned, actually, that Ricardo Salinas -Pliego, it's because the first last name is your father, second is your... I didn't know that that's how you worked in Mexico. Well, in Mexico and in general, Latin countries, we have this big family tradition and a way to respect the families, to recognize that your mother also counts. Love it. I love that. Yes. Well, I want to hear a little bit more about your upbringing. I want to start the story at the beginning. Can you tell me what it was like growing up here in Mexico? I was a very bad boy. You were a bad boy? Very bad boy. Very unruly and like a savage, wild guy looking for adventure. Why? I liked adventure. What can I say? In terms of your understanding of money, what was your sense of money growing up? Did you feel always comfortable? I was always poor. Okay. I had no money. I hate that feeling. Yeah. It's terrible. As a matter of fact, I have a story about that when I think I might have been like 10 or 12 years old, and my father sent me out on a trip to Disneyland and to the US, and then fly across to New York and the World Fair, and he gave me $100 for a one -month trip. I think after three days, I spent it all, and I spent the rest of the trip feeling like a beggar with my other friends who had more money. It was a terrible feeling. I don't like it, and I'm not planning on going back to that. Did you always strive to achieve great wealth? What was your path in terms of achieving success in your career? Well, it took me a long time, because even though I started working first on my own, then with other companies, and my father offered me a job in his company, and that company belonged to my grandfather and my father, and it was their company, not my company. I started working for them, and both of them, especially my father, they're very stingy, miserable with their money, so they pay me a miserable salary. Then after the 80s, disaster here in Mexico when, as I mentioned, the price of the dollar went from 20 pesos to one dollar, to today, which is 17 ,000 pesos per dollar. But in the 80s, just between 1982 and 1988, it went from 20 to 3 ,000. So everybody was wiped out.
Crypto Altruism Podcast
A highlight from Episode 119 - Giveth - Building the future of giving by empowering a global decentralized altruistic community
"We can help people who need help with like very little to no red tape, you know, it's like, okay, if I want to help people here, it's like instantly they can go there and like people are encouraged to make grassroots causes without having all these hoops. So it's like kind of the permissionless way that we can like actually build stuff and support each other. 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. One of the most game changing aspects of Web3 is how it allows communities to organize around causes in new permissionless ways. No matter where you are in the world, you can join a DAO, for example, by purchasing some governance tokens or volunteering your time and then play an active role in the decision making and future of the DAO. One area where decentralized communities shine is public goods funding allocation or empowering the community to make decisions over which public goods projects or causes receive the most funding. And this is where we're going to be focusing our time for today's episode. So to dive into this, I'm excited to welcome Mitch, DAO steward at Giveth, a community driven movement to transform the way we fund nonprofits and social causes. We discuss how they're using Web3 tools to reimagine philanthropy and the donor experience, the role of DAOs and give us decentralized, altruistic community, optimizing public goods funding with conviction voting and quadratic funding and much more. So without further ado, please join me in welcoming Mitch to the Cryptoltrism podcast. OK, Mitch, it is such a pleasure to have you here on the Cryptoltrism podcast today. How are you doing today? I'm fantastic. Thanks for inviting me. Yeah. Pleasure to have you and really excited to chat about Giveth. Been following Giveth for quite, quite a while now. Very fascinated with the work that you're doing. I love the recent introduction of quadratic funding, so I'm really excited to dive into all that. But before we get there, I'd love to learn about your history or your kind of story of how you got into the wild world of Web3. So what would you say was your aha moment that got you excited about crypto and Web3 in the beginning? Well, I think I'm going to like roll a little bit further back than that, Drew, actually. So it's a really interesting story, how I met Griff, who's one of the founders of Giveth. I was working, I was doing a project called Decentralized Dance Party, which was like with my buddy Gary. And we were doing these crazy wild dance parties on the street. And anyway, so that's how I got into like decentralization was like this weird dance party angle. at And then the same time, I was also going to Burning Man and so was my buddy Gary and all this. And then Gary puts me in touch with this guy. He needs a chef for his Burning Man camp. And my career before doing any of this was I was a chef, so I was cooking food. So I get in touch with this guy and he's like, oh, by the way, our camp's like all about decentralization and cryptocurrency and this guy turns out it's Griff. You know, so Griff invites me, I start cooking at his camp and introduces me to crypto and the Ethereum ecosystem. And that was really my entry point was like talking to people, especially a lot of people that were involved in the in the white hat rescue of the Dow attack, all of them not understanding who the hell they are or like the context was like, oh, OK, this sounds like important stuff. All right. And so then I started holding on to crypto. I really, really liked it at first to get to like the aha moment for me was that the practical sense of being able to like send and receive funds without needing like a crazy intermediary or using like a bazillion different platforms and exchange rates and transfer times, it was like simple, at least to me, to like sending and receiving. And then when we saw DeFi come into the picture, it was like, well, OK, I can do way more things now than I could with my traditional bank. And I don't really need to like do all these absurd forms and all that stuff. And then what really, really like clicked it together was like, OK, then like, how do we take all that DeFi? And then I start applying it to like for good ideas, you know, like like, you know, using liquid interest staking to donate to matching pools or directly to public causes, things like like glow dollar or GTC or any of that stuff. And so for me recently, that's been a big aha moment of like how we can use crypto for good and for altruism. That's awesome. I love that story. That's so cool how you got introduced to to Griff and then got in the world of Web three. That's that's awesome and really cool. And so that led you obviously to give if love that. That's, you know, give it like I said, I've been a big fan of your work for quite some time for those that maybe aren't as familiar that are listening in today. Do you mind giving a high level overview of your mission? Yeah, sure. So, I mean, the easiest thing to say about give it is that it empowers projects and donors with evolutionary fundraising opportunities. So we use the power of cryptocurrency to just facilitate easy peer to peer donations. So simplest the thing to say about give it is that it's a peer to peer fundraising platform and cryptocurrency. Yeah, yeah. Great. And we're going to dove in exactly kind of what that means and the different tools and everything that you're utilizing and different ways you're making it more engaging for donors. And, you know, on your website, there's a question that's posed and it says, what if donating were mutually beneficial and nonprofits could evolve their fundraising to maximize impact? So I've been working in the nonprofit sector for quite some time now. And one of the current challenges with philanthropy is that just that lack of donor engagement. Right. It's so disempowering. It feels transactional. Like you make your donation and then maybe like a few months down the road, you get a thank you letter and like, hey, donate again or here's a little, you know, piece of swag or something like that. But that's kind of the extent of the relationship. Whereas I think that, you know, Web3 and solutions like Giveth can really create new opportunities to create a more engaging donor process. So talk to me about this and how Giveth is doing this. So really, the nice thing that I like about Giveth and because it has like this sort of like international permissionless network that it's running under, which is Ethereum, it means that like we can have a wider variety of smaller organizations on the platform. And the nice thing is that when you work with these smaller organizations, it's easier to have a close or like an intimate relationship with them. You know, they're small teams. They don't have a huge donor base. They don't have this crazy administrative corporation they have to run. So it's easier to make real connections with them. You know, we use what I think the crypto community is a little bit more humble as well. So like, it's easier to have online events and get the actual founders of the organizations to talk to their donors and like having all these fun events using platforms like Discord where people can have real connections. You know, the donors can meet the makers. The makers can talk to the people that are supporting their causes. And just the platform itself, like using Giveth, it's really, really easy. And in some cases, it's mandatory that these projects provide updates to their donors. And so just making a flow that's easy on the platform, but also acknowledging the culture in crypto and smaller organizations that it's easier to create real bonds with people. Yeah, totally. Definitely. And I think, you know, I couldn't agree more. And that's something I noticed as soon as I kind of got into Web3, was just that like kind of collaborative and like community collective approach where, yeah, you could just DM a founder and hop in a chat or hop in a Twitter space and ask a question. And I think it's really empowering. And, you know, I think another way that, you know, Giveth empowers donors is through rewarding them for donating to verified projects. Right. Because I think that, you know, in the past, the reward that donors got was maybe that little piece of swag and a thank you letter. Right. And I know that donations isn't always about getting rewards to write. You know, people donate for altruistic reasons, but, you know, it can be an important way to recognize donors and to build that relationship. So talk to me more about the rewards process within Giveth for donors. Yeah, so, I mean, if we go and maybe look at the problem or like the current situation, I mean, if you're in Canada, you know that if you if you're Canadian and you donate to registered charity, you get a tax receipt. Right. And in the US, it's something similar. And so you have this kind of rewards, which honestly is like a very big incentive for a lot of people to donate. So how do we recreate that in like a Web3 international world, you know, where there's no borders, there's no, you know, registered state government authority that's, you know, whatever. So we tried to recreate that system and that is through something called Givebacks. And so that is just as you mentioned, that is when you donate to a verified project on Giveth, you can get up to 80 % of the dollar back of your donation back in Give tokens. And so the Give tokens can be used for a variety of different things. The Givebacks usually work in two week rounds. So every two weeks, we take the calculation of all the donations. We find out how much matching we need to give to each, depending on which project you donated to. And then you just get distributed in this ERC20 token on a Gnosis chain. And starting this week, we'll be distributing on Optimism as well. Cool. That's great. That's amazing. And yeah, so you get these Give tokens, which is great, you know, up to 80 % of the donation worth of the Give tokens. So what do those Give tokens unlock for the holders? So there's the basic stuff that you'd expect from, you know, you have the governance thing. So we have a few different governance platforms, which I think we'll probably get into a little bit later. And then the other thing that's important is that it will allow you to use the community curation mechanism, which is called Give Power, which I think you had on there. We're going to chat about that as well, right? Well, you can dive right in here right now, if you'd like, for the Give Power, because I think it's absolutely fascinating. Perfect. Perfect. So like, as you mentioned, like the entry point for getting these Give tokens is you donate, so you donate, you get the Give backs. And then probably the best use case is going to be this community curation mechanism. So it's this idea that once you have these Give tokens, then you can essentially stake them behind a project. So if anybody's familiar with like how Curve works, basically like you, you get the Curve token, then you stake it behind a pool, and then the pool in turn yields more rewards to the people that are like providing liquidity. Right. So kind of abstracting that kind of idea. So it's like using Give to incentivize the rewards of certain projects where projects might represent a pool on Curve. So, you know, when I said you could get up to 80 percent back in Give backs, so that's actually a variable rate. It ranges between 50 percent to 80 percent. So the more Give that you have staked on your project, the more Give power that it has and the higher ranking it has on the platform. And in turn, it yields more rewards to the people that subsequently donate to that project. Yeah. Yeah. Yeah. You as a Give holder then can be actually like a curator. Yeah, I like that. And that's important, too, because that's just another level of engagement, right? With the platform, with the giving experiences that it, you know, not only are you able to donate to a cause you care about, you're then also able to uplift it in a different way, too, so that hopefully we'll get more donations. Right. Which is great. So I love that. And something you've mentioned a couple of times that we've talked about is verified projects. Tell me about that and the verification process and how that all works. Yeah, so because we're not operating under like the guise of like a state government, we still need to have some sort of like human process that says, OK, we've looked at your content, you're legit. If you claim to be a nonprofit registered in some country, can you prove it? You know, either with impact reports, something from your state government that says, you know, you're this or that. And if you're not a registered nonprofit, that's no problem. You know, that's kind of the thing is like we don't explicitly require, but we need you to provide some information that like, OK, do you have some skin in the game? Do you have reputation at stake? Are you real? What impact have you generated? And so it's like kind of this like extra questionnaire just to like allow a human to see that you're actually doing impact and that you are a public good or have some sort of altruistic cause. And then it gets this verified badge without the verified badge. There's no givebacks to your donors. So it really is like the the highest, most desirable status for projects. And that's how we incentivize high quality projects to like enlist and become verified on the platform. Yeah, yeah. And what I love about what you just said there, too, is that you don't have to be a charity. Right. So many of these platforms that are out there forgiving, that is the requirement. Right. Is that you have to be registered charity. But I think that there's so many positive like movements of change that aren't charitable. They just don't have that label that aren't aren't a charitable organization. Right. It could be a grassroots movement, an informal kind of like activist network. Right. Like there's so many or just a change maker who's doing awesome work in the community. Right. And I think that that's the power of what you're doing, is that like a lot of these groups have traditionally been excluded from from the giving process. Right. So it gives them an opportunity to to participate in ways that they haven't before. So, yeah. Good to see you. I love that. A spicy take just to add on to that is like we we also try to help out organizations that sometimes like aren't don't have functional state governments. You know, just flat out or maybe they're operating somewhere where like certain state governments say that, like explicitly, you can't they're like they're like no go zone. So I mean, example was like when we had the earthquakes in Turkey and Syria. Well, Syria is like a sanctioned country, according to somebody state government. So a lot of people don't simply can't help them. So it's like these people in Syria, they're like they're still suffering. And so it's like, you know, there's like a verifiable these people are doing something good, but like the Syrian state government's not going to do anything. The U .S. state government is clearly has its own position, but they're doing something good. So, I mean, you know, we should be able to find a means to help them and still be able to have those rewards for people who choose to support them. Yeah, yeah, definitely. Yeah, that's a great point there. And I'm glad you mentioned that. So thank you so much for sharing that. And I want to shift a little bit now because I know that you recently integrated a quadratic funding into your platform, which is so cool, super fascinated. So we have on this podcast in the past had a couple of folks speak about quadratic funding. But maybe if you don't mind giving a quick kind of like 30 second, explain it like I'm five of what quadratic funding is and what has been kind of the impact of introducing that to your platform. So if you're unfamiliar with what quadratic funding is, it is this interesting spin on providing matching funding. So, you know, how corporations or whatever might provide like a dollar to dollar match quadratic funding changes it. So it changes the algorithm. So like instead of getting like a straight dollar to dollar match, it applies a basically like a squaring or a square root function to it where it incentivizes more unique donors versus just like the highest value donations. So it's like instead of a few donors with a lot of money taking all of the matching funds to a certain cause, it's about who has the largest community of individual donors supporting a community or a cause. So it kind of flips that on its head and really just like supports people who have like more organic support rather than just a few whales in the background. Yeah, yeah, I love that. Right. It's prioritizing or uplifting the favorite projects of the community, not just the ones that have the most financial backing, which I think is so important because then that really empowers smaller donors. Right. I know that, like, you know, if you're a smaller donor that can only afford to donate 10 bucks or something like that, you know, it can be disempowering to then see someone come in who's a millionaire and drop 100 grand on something and steal up all those matching funds. Right. So I think that it really empowers those smaller donors and makes them feel like their their donation has more of an impact because it does, which is which is amazing. So how. Yeah. And how what has been the impact of that on the platform implementing quadratic funding? What have you seen as like the community response, the uptake? It's been really, really good, actually. So we did like an alpha round. So it's kind of like it was like a test round just to see if everything's cool in the background and like the system makes sense. So we had small it was like a 10 grand matching pool and about 46 projects. We and then we just took like we took a lot of ideas from like Gitcoin back when it was like, you know, a year and a half, two years ago. We really, really like that that user experience. It wasn't too technical. It could be, you know, multi chain. And it seemed really great. Like we had we had a good support. We had, you know, an additional almost like 12K worth of donations without really promoting it very much. You know, that was the response. And so that was cool. Working with a third party to do like Sybil analysis. We got like an organization called Trust to Labs and like seeing all of the work they do in the background was like actually really, really interesting as well. Yeah, yeah, yeah, for sure. That's cool. And so you mentioned Sybil there. And I think that that's such an important piece of the puzzle, right? Because somebody listening might be like, wait, couldn't somebody just set up a bunch of bots and send a bunch of one dollar donations to your project to kind of, you know, mess with the algorithm. So how does how does how do you prevent that? So basically, the beauty of blockchain is that it's all it all has a history to it, right? You can see where the money came from and who sent what where at what time. So Sybil analysis, from what I saw from the the report that they gave us, basically, they can find clusters of donations. So like like accounts or users or people who are donating along the same patterns and then find like a likelihood that like that cluster of individuals might actually be the same person based on where where the money all came from as like a source point. And also finding instances where there might just be straight up like fraud, like basically project has money, donates to donor, donor, donates back to the project. And so finding those recirculation issues as well on top of the Sybil. So proving that like this account was actually unique and a real human that was doing it. Yeah. And I think that's so important, right? Because it just restores trust, I think, to the process to have that, which I think trust is something that's been on a decline in philanthropy. Right. So having that ability to say that, no, these are unique individuals that are supporting this project, I think is is so valuable. So that's awesome. And, you know, another aspect of give that we alluded to earlier that I'd love to learn about is that and I think that is such a cool feature of Web3 and philanthropy is this idea that, you know, donors can then be a part of like the governance of the platform itself. Right. So talk to me about that. Tell me about the governance of giveth and this giveth decentralized altruistic community, I understand is kind of the name of it. So talk to me more about that. Yeah, sure. So the governance of giveth works in a few different ways. So, you know, you get these give tokens and they do all these governance things. So the primary one is that we have a community funding DAO. Basically, people can there's like tens of millions of give in this thing here, and it's all supposed to be earmarked for community initiatives. So people who would like to build something for giveth can make a proposal. They go through the hoops, which there's not very many and give it, to be honest. And then they can use give to request funding from this this this community down, essentially. We use some cool things. We use like conviction voting, which I don't think you ever heard of before. Yeah, no, please tell me more about that. Yeah. Yeah, so conviction voting is something I think that one hive was working on a long time ago. Anyway, it is the idea that like the longer that you put your tokens or that you signal your favor for a proposal, the more conviction that you have towards it. So it's a function, basically, that says, you know, the longer the amount of tokens that you stake by the longer that you stake, that means the more power that you have in support of it. So it's kind of like this this curve that goes up like that. And so conviction voting, basically, it it calculates how many people are staking the tokens behind it, how long each person staked that, how much funding they're requesting. And then it sets like a threshold saying, OK, you guys need to have this much conviction. And then the proposal passes. So it's like you put your tokens in there. It goes it builds up power. Once it passes the threshold, then it can be executed. And then the funding is released to the to the community or the project owner that's that's building the thing. That's so cool. So that's community funding. We also have snapshots. So like when we're making non -financial decisions, we rely on snapshot to get signaling from people. For example, like we started a process of budgeting our working groups based on this. So like we have like, what do you want us to build? You know, we have we could go big and like do all these things. We could kind of like stay at this level or we could even like reduce the scope of what we're doing in this particular area. And then the give token holders essentially decide. They're like, well, you know, I don't really like that you're spending your time on this and they can vote to reduce the budget and the scope and so on and so forth. And the last one I want to mention, which is important for give token holders, which is kind of cool, actually, is we have this thing called token log, which is a token weighted backlog. So it's more of like for development, product development. And so we have all these ideas in there of things that we could build for giveth. And then basically you can vote with your tokens and see like what features you'd actually like to see built in what order. So it's just basically like a like a ranking, you know, and it's like cool. But it's like we want quadratic funding. OK, we want to add project discussions into like the page so people can talk to the things we want, you know, whatever have you. But we maintain a list like that and people can vote on it with their tokens. That is so cool. I love that. I mean, each of those things that you just mentioned, there is just like a really cool new way to engage givers in a different way. Right. And to me, that's something that's really inspiring as a donor to say, like, I get to join this really cool community and and shape the future of this platform. Right. That's amazing. So kudos to you for doing that. I just love the like community focus of everything that you're doing, the decentralization and really giving the power to the givers and the donors to make those decisions. So that's awesome. And, you know, I saw on your website that over a million and donations have been made, which is incredible. So kudos to you on that. That's a huge win. I was wondering if you have money on, I think. Oh, really? Almost two million. OK, wow. Look at that. One point nine. One point nine. Wow. That's amazing. So impact incredible that you've had so far. Do you have any like success stories or anything that you'd like to share from from the experience so far with Givith? Well, there's a really interesting project. I was trying to find it right before this. It was a couple of years ago, but you're going to like this because it's Canadian. There was a guy named David from Chilliwack, and he had this this it was like a small project and he wanted to go with his daughter and prepare food packets and give them out to homeless people in Chilliwack. And so he like made the civil project and he ended up getting like. 130K like dollars worth of ETH donated to his project. I have no idea. I was like, boom, here you go. And so his little like like father daughter project just like is like, OK, what? Yeah. So I think it was like this, like out of nowhere, just like massive amount of funding. And I think he ended up like doing some of the work. But then since like like what do you do with that much money at that point? I think he did donate it to a local org in the end who could probably like scale up the impact with that. There was another really great one, which was the one I mentioned, which was the Turkey and Syria earthquake relief. That was really cool. It was like we got we got Gnosis. We got Grace aid. We got Bankless. We got them all to like activate. I think one inch was in there as well. We just found these people like grassroots organizations and we were able to raise like over 100K in funding and like, you know, two or three weeks and get it to the to the people there. So those are like some really, really cool success stories of just like we have the platform, the crypto community activates and like we just, you know, make it happen. Yeah, that's amazing. Well, kudos to you. You should be very proud. You and your team should be very proud of the impact you've had so far and the incredible platform you're building. I'm just blown away with all the different mechanisms you're putting in place to empower donors and to really, you know, put power in the hands of the community. So that's incredible. And obviously we weren't able to cover everything in this short conversation today. And, you know, I'm sure folks listening in are going to want to, you know, engage with the community and make a donation, forgive us. So what's the best way for them to learn more and to join the community of givers? Well, I mean, the best place is go to our website.
Markets Daily Crypto Roundup
A highlight from Featured Story | FedNow Is a Reminder That Payments Arent Cryptos Differentiator
"This episode of markets daily is sponsored by Kraken It's Sunday August 27 2023 and this is markets daily from coin desk Hi, I'm Michelle muso here with your featured story on today's show we're taking a look at the US Federal Reserve's launch of Fed now as Always just a reminder coin desk is a news source and does not provide investment advice Today's piece comes from Paul Brody global blockchain leader for Ernst & Young We'll be using Wondercraft AI to read the story The piece is titled Fed now is a reminder that payments aren't crypto's differentiator Payments especially those across borders are often touted as a key use case and value proposition for the blockchain industry Unfortunately a look at both the technology competition and regulatory environment Doesn't really support that idea and the launch of Fed now by the Federal Reserve in late July is a good occasion to take a look at why for most people in companies the value proposition of using crypto or blockchains for basic payment services isn't very appealing Blockchains and crypto ecosystems have compelling advantages in other areas, but fiat payments aren't one of them First and foremost simple high -volume payments are cheaper and faster to execute in centralized systems Blockchains have complex consensus mechanisms and many nodes in which ledger data is distributed This means that while centralized payments flow quickly through a single infrastructure Blockchain payments get copied to thousands of nodes and are subject to varying degrees of speed and cost based on network congestion Transaction fees for Fed now are expected to be in the range of five cents each or less Automated Clearing House, ACH, the most common interbank payment method in the US, presently costs between 25 cents and up depending on the provider Bitcoin fees average around one dollar, though they can vary a lot, and transaction fees on Ethereum are similarly high and variable Both Bitcoin and Ethereum have accelerator networks that can bring costs back down towards four cents Though these are not yet widely available and we don't have experience with large volumes to know if they will stay that low The second big obstacle to widespread adoption of blockchain payments is path dependency We already have widely deployed simple payment systems linked to debit cards and bank accounts It's rare for new technologies to come in and wipe out older infrastructure unless it has a compelling advantage And, in most cases, blockchain payments are at best price competitive But without many advanced features that retailers and others depend upon for handling things like chargebacks, refunds, and loyalty points One area that is often cited by blockchain and crypto boosters as particularly promising is cross -border remittances In these cases, fees in the traditional banking and payment systems are quite high And many people are simply not served by that system because they don't have bank accounts Unfortunately, the root cause of high fees and lack of services isn't a technological one that can be fixed with blockchains The real obstacles that add cost are often regulatory, infrastructure, or a lack of competition Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools All in a redesigned, modular trading interface So head to pro .kraken .com and trade like a pro Not investment advice Some crypto products and markets are unregulated The unpredictable nature of the crypto assets market can lead to loss of funds and profits May be subject to capital gains tax The regulatory problem is mainly that, in some countries, the law does not permit banks to open accounts for people with limited or no personal identity documentation Or whose documentation would show them to be working or living in that country illegally Where those obstacles have been eased, or governments have made it a priority to bank the unbanked, banks have been quick to serve these groups Brazil, India, Kenya, and Tanzania are all shining examples of how quickly banks and financial services entities can charge into a market when the regulatory and identity obstacles are eased The second big cost driver for cross -border payments is a combination of infrastructure and regulation By infrastructure here, I don't mean computing infrastructure, I mean the physical variety Supply chains for moving money and dispersing it Sending cash from one person to another requires physical infrastructure to receive and disperse cash Western Union is reported to have over 500 ,000 access points worldwide And their competitor MoneyGram claims as many as 300 ,000 Physical retail costs more to maintain purely online systems and also acts as a huge competitive differentiator Incumbents have been building their retail networks for literally decades Western Union has been in the money transfer business since 1871 It's instructive to compare online to online payments with cash -to -cash payments at companies that offer cross -border remittances I did a quick survey looking at two providers and two currencies and fees range from 1 to 2 % for entirely digital payments To 5 % or more for a transfer of $250 in physical cash from and to a retail location While I think the odds of blockchain payments replacing credit cards or debit cards are low There are two cases where I think blockchains have exceptional value The first is in everything that isn't traditional fiat money The banking system is an amazing set of infrastructure that does an astonishingly good job of moving lots of money reliably and at low cost And none of it works for anything other than money The genius of tokenization is that you can apply the discipline that banks bring for money The second compelling value proposition is that you can make payments in the exact same ecosystem in which you take delivery of the item you are buying Every transaction involves the exchange of money for stuff In the real world, the money and the stuff reside in completely different systems The can of soda you buy in a convenience store is tracked in a different inventory system and your payment comes through the banking system The real cost of this transaction isn't the payment, it's the reconciliation across all the different systems Instead of chasing a deeply entrenched incumbent payment system Blockchain and crypto businesses should be going after the opportunities where they offer compelling advantages for consumers and businesses The flexibility and programmability of the blockchain ecosystem is costly But offers compelling advantages the moment you add any kind of complexity to a transaction From simple reconciliation all the way up to complex business logic And that's our show for today. Thank you for listening.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Featured Story | FedNow Is a Reminder That Payments Arent Cryptos Differentiator
"This episode of markets daily is sponsored by Kraken It's Sunday August 27 2023 and this is markets daily from coin desk Hi, I'm Michelle muso here with your featured story on today's show we're taking a look at the US Federal Reserve's launch of Fed now as Always just a reminder coin desk is a news source and does not provide investment advice Today's piece comes from Paul Brody global blockchain leader for Ernst & Young We'll be using Wondercraft AI to read the story The piece is titled Fed now is a reminder that payments aren't crypto's differentiator Payments especially those across borders are often touted as a key use case and value proposition for the blockchain industry Unfortunately a look at both the technology competition and regulatory environment Doesn't really support that idea and the launch of Fed now by the Federal Reserve in late July is a good occasion to take a look at why for most people in companies the value proposition of using crypto or blockchains for basic payment services isn't very appealing Blockchains and crypto ecosystems have compelling advantages in other areas, but fiat payments aren't one of them First and foremost simple high -volume payments are cheaper and faster to execute in centralized systems Blockchains have complex consensus mechanisms and many nodes in which ledger data is distributed This means that while centralized payments flow quickly through a single infrastructure Blockchain payments get copied to thousands of nodes and are subject to varying degrees of speed and cost based on network congestion Transaction fees for Fed now are expected to be in the range of five cents each or less Automated Clearing House, ACH, the most common interbank payment method in the US, presently costs between 25 cents and up depending on the provider Bitcoin fees average around one dollar, though they can vary a lot, and transaction fees on Ethereum are similarly high and variable Both Bitcoin and Ethereum have accelerator networks that can bring costs back down towards four cents Though these are not yet widely available and we don't have experience with large volumes to know if they will stay that low The second big obstacle to widespread adoption of blockchain payments is path dependency We already have widely deployed simple payment systems linked to debit cards and bank accounts It's rare for new technologies to come in and wipe out older infrastructure unless it has a compelling advantage And, in most cases, blockchain payments are at best price competitive But without many advanced features that retailers and others depend upon for handling things like chargebacks, refunds, and loyalty points One area that is often cited by blockchain and crypto boosters as particularly promising is cross -border remittances In these cases, fees in the traditional banking and payment systems are quite high And many people are simply not served by that system because they don't have bank accounts Unfortunately, the root cause of high fees and lack of services isn't a technological one that can be fixed with blockchains The real obstacles that add cost are often regulatory, infrastructure, or a lack of competition Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools All in a redesigned, modular trading interface So head to pro .kraken .com and trade like a pro Not investment advice Some crypto products and markets are unregulated The unpredictable nature of the crypto assets market can lead to loss of funds and profits May be subject to capital gains tax The regulatory problem is mainly that, in some countries, the law does not permit banks to open accounts for people with limited or no personal identity documentation Or whose documentation would show them to be working or living in that country illegally Where those obstacles have been eased, or governments have made it a priority to bank the unbanked, banks have been quick to serve these groups Brazil, India, Kenya, and Tanzania are all shining examples of how quickly banks and financial services entities can charge into a market when the regulatory and identity obstacles are eased The second big cost driver for cross -border payments is a combination of infrastructure and regulation By infrastructure here, I don't mean computing infrastructure, I mean the physical variety Supply chains for moving money and dispersing it Sending cash from one person to another requires physical infrastructure to receive and disperse cash Western Union is reported to have over 500 ,000 access points worldwide And their competitor MoneyGram claims as many as 300 ,000 Physical retail costs more to maintain purely online systems and also acts as a huge competitive differentiator Incumbents have been building their retail networks for literally decades Western Union has been in the money transfer business since 1871 It's instructive to compare online to online payments with cash -to -cash payments at companies that offer cross -border remittances I did a quick survey looking at two providers and two currencies and fees range from 1 to 2 % for entirely digital payments To 5 % or more for a transfer of $250 in physical cash from and to a retail location While I think the odds of blockchain payments replacing credit cards or debit cards are low There are two cases where I think blockchains have exceptional value The first is in everything that isn't traditional fiat money The banking system is an amazing set of infrastructure that does an astonishingly good job of moving lots of money reliably and at low cost And none of it works for anything other than money The genius of tokenization is that you can apply the discipline that banks bring for money The second compelling value proposition is that you can make payments in the exact same ecosystem in which you take delivery of the item you are buying Every transaction involves the exchange of money for stuff In the real world, the money and the stuff reside in completely different systems The can of soda you buy in a convenience store is tracked in a different inventory system and your payment comes through the banking system The real cost of this transaction isn't the payment, it's the reconciliation across all the different systems Instead of chasing a deeply entrenched incumbent payment system Blockchain and crypto businesses should be going after the opportunities where they offer compelling advantages for consumers and businesses The flexibility and programmability of the blockchain ecosystem is costly But offers compelling advantages the moment you add any kind of complexity to a transaction From simple reconciliation all the way up to complex business logic And that's our show for today. Thank you for listening.
Bloomberg Radio New York - Recording Feed
Monitor Show 16:00 08-24-2023 16:00
"In the market, but you're not seeing it turn the S &P or even the socks in the way you want it. In fact, you're seeing just the opposite. Now, this could just be a one day move, right? But let's see what this one day means for investors as they think about their AI bets moving forward. Right. Or it could be a resumption of the previous three weeks in which there was a lot of weakness for the big winners, notably the big tech names. And of course, as we head into a seasonally weak period, there's a lot of questions about whether this is just kind of a precursor of what's to come. There you have the closing bells and it is read across the screen here. And we're pretty much at session lows for the major indexes. The S &P losing ground here by one point four percent. The Dow Industrial is losing one point one percent. The Nasdaq, the big loser of the day in terms of percentage of decline, one point nine percent loss. And the Russell 2000 small cap companies losing about one and a quarter percent. All right. Well, let's get a check on some of that. We're into it is doing in the after hours right now, having a little trouble pulling it up. But it is a reminder that earnings season is by no means over at this point. Guys, we're still getting plenty of companies reporting, including Splunk yesterday and into it right now. The company is saying that it sees fourth quarter adjusted earnings per share of a dollar sixty five, beating estimates of a dollar forty six. The company is seeing first quarter adjusted EPS of one dollar ninety four cents to two dollars. So that's within the range of estimates. That was one dollar ninety seven cents in the after hours. It is not moving. Fourth quarter net revenue coming in at two point seven billion dollars. That did beat estimates of two point six five billion dollars, moving a little lower unchanged in the after hours. Yeah. Stock is up on the year. It's up about twenty eight percent. So again, maybe in this environment, investors expect a little bit more. Talking about the outlook. Twenty twenty four revenue of fifteen point eight nine billion to sixteen point eleven billion. The estimate is fifteen point nine six billion. So it does look like it's giving some upside in terms of that.
Crypto Altruism Podcast
A highlight from Episode 117 - Gitcoin Grants 18 Special!
"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, welcome to episode 117 of the Crypto Altruism Podcast. We have a special one in store for you today because it is Gitcoin season. It is the 18th Gitcoin Granting Round which is unbelievable, so in this episode we are going to focus exclusively on Gitcoin and the current Granting Round. It will be a Gitcoin variety show in a sense, so I hope you enjoy listening to it as much as I enjoyed producing it. We're going to start off with a short overview of Gitcoin for those who aren't as familiar with it as well as an accessible introduction to quadratic funding, the super innovative matching funds mechanism behind Gitcoin grants. Don't worry, it's not as complicated as it sounds. We're then going to highlight 10 incredible projects in this round with short clips from a member of their teams, introducing their project and the inspiration behind it. For more information on each of the projects, definitely make sure to check out the show notes for links to their grants. I've personally supported each of these projects with a small donation and certainly encourage you to do the same. And I of course have to take a quick moment to shill our project as well, because that's what Gitcoin season is all about. For our project, which is in the Web3 Communion Education Round, we have an ambitious plan to grow crypto altruism into an important tool for onboarding nonprofits and changemakers to Web3, and we need your help. We are developing a Web3 changemaker toolkit that will give nonprofits everything they need to leverage Web3 tools, whether it's accepting crypto donations, engaging in an NFT fundraising campaign, tracking impact with blockchain, or developing a DAO to grow their movement at the grassroots level. We'll also be publishing a special 10 -part podcast series, with the first episode coming out only a couple days after this episode. In this podcast series, we'll focus on case studies of nonprofits who have successfully used Web3 to advance their mission. I won't go into all the details right now, but make sure to check out our show notes for a link to the full proposal. We'd be honored to earn your support. Anyways, let's jump right into the episode. For those who don't know, Gitcoin Grants is an incredible platform that allows individuals to propose Web3 public goods projects for funding, and allows community members to donate to projects they care about. But what is truly amazing about Gitcoin Grants is that it uses a cool matching mechanism called quadratic funding, which means that projects with the most widespread community support get the most matching funds as opposed to a straight dollar for dollar amount. In essence, by making a small donation, you're placing a vote for the projects that you feel deserve the most matching funds. To explain it a bit better than I am, I can't think of anyone better than Connor O 'Day, Grant Ops at Gitcoin. So I'm going to share a short clip from episode 94, where we had the pleasure of chatting with Connor and learning about quadratic funding. Quadratic funding is a way for individuals to express their interests and allocate funding within their communities in a more democratic and pluralistic way, which amplifies donations made by a large community rather than which essentially weights donations from a large amount of people over a small group with, you know, that were wealthier can make big donations. Right. I guess the way we like to phrase it is quadratic funding is a mathematically optimal way to fund public goods in a democratic community to kind of take a step back. The way it works is we'll raise a matching pool of funds and then run these donation rounds for a fixed time period where anyone can donate to a project they want to support and that donation hurts matching. But the signal from 100 people donating one dollar to a certain project is much stronger than the signal of, you know, one or two or three people donating like a thousand dollars. So it sort of weights the community preferences of the majority higher than, you know, the preferences of like the most wealthy. A big thank you to Connor for that excellent explanation. Now that we've got a bit of an understanding of the Gitcoin Grants process and quadratic funding, let's dive into some of the incredible projects participating in this round. To kick things off, we're going to start with Solar Foundation, whose mission is to accelerate access to off -grid solar energy for underserved communities in emerging markets. To introduce her project, we have a short clip from Colleen Chase, who is actually an OG in the Gitcoin community as well. Take it away, Colleen. Hi, I'm Colleen Chase, co -founder of the Solar Foundation. Did you know that according to the IEA, over 600 million people in Africa lack access to electricity? Imagine a world where everyone has access to clean, renewable power, especially those in traditionally underserved climate vulnerable communities in Africa. That's the mission of the Solar Foundation, to harness the power of the sun plus the power of blockchain to accelerate access to off -grid solar power and work towards achieving SDG number seven, universal and clean energy access by 2030. At the Solar Foundation, we believe that decentralized clean energy is a public good. Through our work in Uganda, Nigeria, and Puerto Rico, we've seen how off -grid solar solutions have a profound impact on people's quality of life. Are you looking for meaningful climate action you can take today? Help us fund access to more solar energy. Donate to the Solar Foundation's grant in the GG18 Climate Solutions Round. Thank you to Crypto Altruism for featuring our project, and please check out our partners too, Iowaca Uganda and Helpers Social Development Foundation. Together, we can bring light, power, and climate resilience to those who need it most. Wow, what an incredible project. Next up, I'm excited to introduce a project that has a very important mission of increasing indigenous people's agency within Web3, and that project is Micellia.
WTOP
"one dollars" Discussed on WTOP
"Are medium frosty another and get for one dollar double your deliciousness hurry this BOGO deal won't last I'm Rita Kessler the WTOP traffic seven news first alert forecast Mark Pena is joining us live now mark this is much more like it in terms of the humidity and the temperatures yeah yeah that week friend pushed on through late last night early this morning and we're reaping the benefits now it's a beautiful day out there it's a little cloudy but we do expect some more sunshine by the second half of your day overnight temperatures look to fall into the upper 50s or 60s across the region and Wednesday is looking just as nice as today but with even more sunshine highs will be in the mid 80s and that humidity will stay in check by Thursday we'll begin to see some increasing humidity and a few spotty showers will be possible as well highs look to stay in the mid 80s by and Friday it's going to be downright hot again it's going to be almost similar to yesterday highs in the mid 90s and with more humidity in the air it'll be feeling closer to 100 degrees but with that we've also got the chance for some more showers and storms some of which could be strong on the side so we'll be watching that in the next couple of days to see what kind of plays out in terms of any kind of severe storms but all this is along a front that will come through late Friday early Saturday that drops temperatures again heading into the weekend looks and everything to dry out by around Saturday Saturday afternoon so not a complete washout but we could see a few lingering showers and then Sunday we we get the benefits of another cold front highs look to be around 80 degrees with lower humidity and that'll stick with us through about Monday so a bit of a roller coaster and a few showers on the way for the weekend right now I've got 75 76 in northwest in Annandale 77 in Beltsville and the forecast brought to you by Lend the Plumber Heating and trusted same -day service seven days a week coming up what was your favorite local restaurant of the year 1122
The Aloönæ Show
A highlight from Season Finale #12
"And really America's the bad guy. But who knows? I personally believe that a lot of the Nazis, they got into very, very powerful places in government right? And slowly over time instilled people, certain people with their ideologies all around the world. So Britain, Russia, America, Germany. And that is how certain things, that's how certain types of groups formed. You there? Do you think America will split? Yo, what's up? Not much. I didn't think you would get in. Oh, yeah, no. Yeah, I had to do a couple things too. You know, today, I'm not going to lie. Today was pretty much not my day. But you know, it is what it is. When's our day? Let's talk about how we can be compressed and how we can take over the White House. All right. I'm going to show for once. I'm going to be specifically careful what I say. Because I'm not going to lie, there's still things I want to do before we make this happen. I know. In life. I know. Be careful what you say. We all have plans. Yeah. I have plans to build a bloody monopoly. I'll just say that. I'm kidding, of course. But anyway, so you said something about taking over the White House? I mean, by running in 2040. I mean, taking over by running. Yeah, no. I think we need to run for government. I think we can do a lot more better things. We can basically help the country to an extent more than what Biden can do. But I'm not going into it that I've asked. I have no power. I don't have no power. The President has more power than you when he makes on. But yeah, let's dive in. Anything you want to say, Eric? All right. What happened? Anything you want to say? Nah. Nah. Not at this moment. Not at, like, right now. I can't really think of anything right now. Just one more time. Who do you think will win 24? At this point, I'm thinking Trump will win. Do you hope? Yeah. Yeah, no. Yeah, I wasn't saying that in like a negative. Oh, Trump's going to win. Like, yeah. I would hope. But... The ideological crazy left seeing how bent on fucking getting this guy arrested. Even if he's done fucking nothing wrong. If you're going after him, you need to go after Biden. There's evidence... They're not going to go after him. Eric, there's a partly document saying that he apparently had a secret email. Really? Called Peter something. Peter, right? Why is he called Peter? Why is he called himself Peter? I think it was Howson or something like that. Do you remember the photo where it said, you know, Peter? Yeah, yeah. Peter. Wow. I wonder what he had on that email. My suspicion was he probably was doing certain type of deals with people. So that was probably the email that he probably used to talk to his son about certain deals with China, Romania, Ukraine, Russia. He did deals with a lot of people. Was this when he wasn't... This is when he was vice VP. Oh, VP. Okay. And for God knows, this could be when he was president as well. For all we know. Apparently Obama has a brother. Does he? I mean, I saw it on Illuminati, but he said his brother said he sold his soul. He sold his soul pretty much, which he did. But, you know, it is what it is. I'm pretty sure everybody that is in Hollywood... I'm pretty sure we would have to sell our souls. We really want to get off their power. Yeah, we would. But I'm not sure I really want to do that. Yeah. Yeah. We would definitely have to do that. I'm going to shoot the Pope sold his soul. Clearly he was almost trying to suck the dick of the Rothschilds. And the Rockefellers. It's unfortunate. But now we know who he battles down to. He was kissing the ass of world leaders and they were just getting very fancy with those guys. Okay. Do you think at one point his intentions were genuine and they got something on him and now he's doing that? Yep. They probably got dirt on everyone. The ones that watch him. I've realized long and long ago that every agency, every thing, they don't work for the people. They work for the deep state. They work for the people that actually control the world. They keep us in line. We've got to watch what we say because let's be real here. Some bastard will take out contacts and probably we could get raided. We'd put past them. I think we could do some very good things in the White House and I think we'd make a very good team. I think we could make some positive changes alike. So let's run through some bills we want to do. Number one, we want to investigate. We don't want to invest that way. We want to prosecute big pharma for COVID. We want to prosecute them for literally doing zero trials on COVID, tests on COVID. We want to prosecute them on literally drugging the entire population of America. We want to basically, we want to go after these companies to make healthier foods and have less carbohydrates, certain things in it. In the food that basically puts so much chemicals in food and makes people fat in America. Yeah, and it makes men grow and it makes men get titties and lose testosterone too. It wouldn't surprise me. Number three, we would like to reaffirm the constitution and make it and basically undo any of the bullshit that is going to get pushed through by the Joker administration. Number three, Walter, how are we going to lower the debt of this country? I don't, I'll be honest, it would take... Yeah, it's impossible. We would objectively have to restart the whole thing. It is what it is. I mean, we could try and pay it back, but it would take... So what would happen in that aspect? Would everybody lose their money and would everybody lose their shares? We would probably try and put it in a way where people don't lose their money. We would just say like, you know, look, you know, you can't use your money. You can't use your money for a couple of days or a week. We'll try and make it a week. What if we backed it by a... Actually, no. We would tell them to take out a good amount of money that you can live off of. Take out most of your money. Basically take out all of your money. We're going to back it. What if we backed it by something else? What if we backed it by Bitcoin? Yeah, that's a great idea actually. Back the currency by Bitcoin and basically for everyone... Basically one dollar is backed by one Bitcoin. So for every one Bitcoin and basically the money would stay on the ledger, right? So basically it could be backed by Bitcoin or we basically make a hash or we basically make another version of it or we basically make a separate version. That basically follows Bitcoin, right? But it's not 100 % backed by it but it's 80 % to 90 % backed by it and it's also backed by movie reserves of maybe like silver or gold.
Unchained
A highlight from Anita Posch on Why Bitcoin Is a Tool for Freedom Especially in Africa - Ep. 531
"Bitcoin can be one of the solutions for people who are disempowered, who are outlawed, the misfits, you know, basically Bitcoin is for them. Hi, everyone, welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago, and as a senior editor at Forbes, was the first mainstream media reporter to cover cryptocurrency full time. This is the August 15th, 2023 episode of Unchained. At Token 2049 Singapore on September 13th to 14th, Balaji Sreenivasan, Tyler and Cameron Winklevoss, Arthur Hayes and 200 others will hit the stage, joining over 10 ,000 attendees. Visit token2049 .com for 65 % off regular ticket prices with the code unchained. Link in the description. Arbitrum's leading layer two scaling solutions can provide you with lightning fast transactions at a fraction of the cost, all while ensuring security rooted on Ethereum. Arbitrum's newest addition, Orbit, enables you to build your own tailor made layer three. Visit arbitrum .io today. Buy, trade and spend crypto on the crypto .com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days. Download the crypto .com app and get $25 with the code Laura. Link in the description. If you've been enjoying Unchained and find the discussions here fascinating, mind blowing or as crypto tends to be downright bonkers, please share this episode with a friend to keep the conversation going. Today's guest is Anita Pausch, Bitcoin educator, founder of Bitcoin for Fairness and author of Learn Bitcoin. Welcome, Anita. Hi, Laura. Thank you very much for the invitation. I'm honored to be here. I'm excited to have you. You work on so many different things related to Bitcoin. Why don't you just give us an overview of your work? I guess it's almost too much sometimes for my personal life. So, yeah, my main focus is on Bitcoin education, and I founded a nonprofit initiative called Bitcoin for Fairness, which brings knowledge or shares knowledge with people on the ground in the global south. And the last year I spent around eight months in southern African countries to support local initiatives with building Bitcoin communities, meetups, and of course, to share knowledge there and build knowledge on the ground. And two years ago, I published a book called Learn Bitcoin, which is a book for beginners, which basically speeds you up from zero to a self custody Bitcoin holder. So a real Bitcoin holder. And yeah, and besides that, I'm part of the C4 cryptocurrency certification consortium, Bitcoin Professional Committee. So I also help there to establish standards of education and knowledge of Bitcoin for people in the professional space. And at the moment, I'm just building a online learning program. Maybe we can talk about that later. So I do a lot of things. And also I'm testing wallets, for instance, in rural areas in Zimbabwe and see if they are working or not. And yeah, so I try to contribute my part to the Bitcoin adoption and Bitcoin education. And yeah, that's what I actually spend every day on almost. And how did you get into Bitcoin? That was early 2017. And I was working in web development and web platform development and online products for about 20 years, online marketing and build little businesses. I was an entrepreneur and I always had the feeling or I was looking for something that I'm really, really, really interested in. I mean, internet marketing, et cetera. I liked it. I loved it. But then after 20 years, it felt boring. And I also, we built online platforms for designers, for people who have small businesses. So we had something like Etsy in Austria when Etsy wasn't even in Austria. And when we built that tool, I realized how difficult it was back then to let people pay over the internet in your shop. And we had to pay upfront like 3 ,000 euros or something just to get the possibility to do that. So I learned how complicated that is and how much permissions you need, basically, and how much friction is in that system and how expensive it is. And so in 2016, I thought to myself, oh, I want to do something else and something that really makes more sense for the world than just sell stuff. And then I stumbled upon Bitcoin and I was drawn to it because very early, I think I understood because I had a great teacher in Andreas Antonopoulos, for instance, that Bitcoin is a tool for freedom. And it gives people like me, for instance, I'm a lesbian. I was born in Austria, 53 years ago already. And the first 30 years of my life, I didn't have the same rights as all the other people. And also my grandparents came from Bohemia, you know, they passed borders, they became Austrians. We had hyperinflation a hundred years ago in Austria too. And also they told me a lot about the Nazis in Austria and how life was for them and how shocking the change was suddenly when the Nazis came to Austria. And all these kinds of things, I think, came together. My life story, what I experienced so far, and that Bitcoin can be one of the solutions for people who are disempowered, who are outlawed, the misfits. You know, basically Bitcoin is for them because no one can take it away from you. It gives you the freedom to interact without anyone that can hinder you. And that's what I saw. And that's what I thought is a life -changing tool. Basically, we didn't have that in hundreds of thousands of years, an invention like that. And so I was greatly drawn to that. And that's, I think, where I take my energy from, from that discrimination that I felt here. And I think that for many, many, many people in other countries, life is much worse than for me. And so I think even more for them is a tool for liberation. And that's why I work so hard. And how did you, like, when you first got into Bitcoin, like you said, you had been doing web development. And so how did you go from that to Bitcoin education? Because I think your initiative in Africa, I think it only started in, I don't know, 2021 or 2022. Yeah. I think you just started it when I met you in 2022. That was Bitcoin for fairness. I just started that half a year before. Okay, so from 2017 on, I had to learn myself. That was the first thing. So I still did the marketing stuff and the web design stuff. And at the same time, I taught myself and I learned a lot about Bitcoin. I did the University of Nicosia online curriculum and course to learn more. And I very early started to write my first book, my first learn Bitcoin book, because I thought you can learn the most. If you have to understand everything to write it down for other people to learn it. And also I had a lot of good feedback. I asked people who were much more knowledgeable about it back then as I was and they helped me. And then one of the first things I also did was I translated Andreas Antonopoulos' The Internet of Money to German and learned a lot with that, of course. And I very early in 2018, end of 2018 or something like that, I did my first Bitcoin seminars in Austria and then also an online course in German. And then I took on the podcast because that was actually the first bigger thing where I think people in the English speaking world got to know me. So I did like 160 interviews with all sorts of people from the Bitcoin space, Adam Beck, Andreas Antonopoulos, James Loeb, yeah, on and on to learn myself. The Anita Pausch show, which you apparently have suspended or paused or something. It's paused because I was in Africa and in Zimbabwe, I didn't have internet. I could not record something like this. It's just it's not possible. So I stopped doing it, but I want to start again. And so and in 2020, let me go back a little bit. Like I said, in 2017, 2018, everyone was talking about how Bitcoin can be a tool against hyperinflation, a hedge against inflation, for instance, in Venezuela or in Zimbabwe. And I always was like, aha, that's interesting. And I have a friend who is living in Zimbabwe. And then I thought, OK, so if I think that Bitcoin is a tool of liberation for people in these countries, for people who are living under authoritarian leaders and against inflation. Then I have to go there and see if anyone is really using it because the Bitcoiners are talking about it. So I focused also in my podcast on the global south and on Argentina, Venezuela, I had guests from these countries. And then in early 2020, before the pandemic started, I visited my friend for four weeks in Zimbabwe to understand the problems there in real life, because, you know, we're always talking about it. And it's like, if you're not there and if you don't really see it, if you don't feel it, if you don't have to calculate each day the price of goods again and the next day, it's different than the day before. If you don't feel that yourself, I think you can't really understand the problems of the people. And that was the first time I went there. I also went to Botswana to meet with Alakani Etireleng, who founded the Satoshi Center in Botswana, I think, as early as in 2015 or maybe even earlier. So she's a real pioneer also. And then I went back to Austria because I still had my place here, my apartment and everything. But I knew that I want to go into that direction. And after the travel bans were lifted, I started traveling again to El Salvador when the Bitcoin was introduced there. And then I realized, podcasting is all good and fine, but where is the real education happening? I mean, podcasts are great for education, but there are so many now. I think it's even also difficult to get to have an audience there. And when I saw in Zimbabwe that there is some sort of adoption, yes, some people are knowledgeable about Bitcoin and are using it, but the vast amount of people is not. And there are so many scams down there. Everyone knows Bitcoin. Really, you can ask anyone, they know it, but everyone will ask you, but is it not a scam? Because everyone has been scammed or at least knows someone. And when I was there the last time I was living in a house and the maid, there are still people who have maids there, came to me because she saw a Bitcoin flyer on my desk and she said to me, can you tell me what is this Bitcoin? You are doing something with it. And I said, yeah, I mean, imagine it's like cash, only digital and your government can take it away from you. And she said, uh -huh, uh -huh. And I said, why are you asking? And she said, I'm in a WhatsApp group. And suddenly someone sent me a message saying to me, give me $50 now and in three weeks you get $100. And she said, yeah. And she said, that can't be right, can it? And I said, no. Yeah. So people are bombarded with emails, with messages like that. And I have seen so many people who've lost money and that's really sickening. And I think that's also why I try to get more and more and more education on the ground there so that people can share the knowledge with their own peers and things like that. And so is your sense that the efforts that you are making are, I mean, you know, obviously I'm sure what you're doing is true Bitcoin education in the sense that you're educating people about this technology and like understanding what this is. But is your sense that a lot of the activity in those places is, yeah, more of like using it to perpetrate scams? I mean, yeah, that can be. I mean, but I can't estimate that. I mean, using the name Bitcoin to do scams, of course, yes, they are all using that name. But it's not Bitcoin what they sell, of course. I definitely also a big amount of like exchanging dollars into Bitcoin because people who have dollars and know Bitcoin know that Bitcoin is a hedge against inflation of their own Zimbabwean dollar and also the US dollar also has inflation. But I also saw that a lot of people want to get hold of Bitcoin as a sort of a small investment for themselves. And of course, the rate of usage as a means to be able to send money in and out of the country is going up as well because Zimbabwe, for instance, is a country where you have very strict financial exchange controls. And also, you can't easily send money in and out of the country. I mean, first, no one wants the Zimbabwe dollar. I mean, I wouldn't want it, you know. The US dollar is mostly in banknotes. They only have banknotes. So, I mean, that's the next thing. You only have one dollar notes. And when you go into a shop and something is like 30 US dollar cents, you don't get 70 cents back. You get a small goodie or something. Yeah, so they are using like in the war times in Austria when people use cigarettes as money. You don't get any cash back. So I know people in Zimbabwe, for instance, who have freelancers in other African countries, and it's not easy to send money in and out of the country. And they told me, you know, when I send my freelancer in, I say, Malawi, three or four times money via mobile money or other providers, the government comes and asks me what I'm doing with that money. Why am I sending that money out? And with Bitcoin, I mean, she immediately could send the money from her wallet to the guy's wallet and no problem. Yeah, less costs, less friction, can't be censored. Nobody's questioning why she's doing that. And another big story in Zimbabwe is foreign exchange control also means that if you, for instance, a business in Zimbabwe and you want to buy goods from South Africa or another country. You can't do that with Zimbabwean dollar. So you need US dollar and then you have to go to the central bank of Zimbabwe and say, I would like to buy, let's say, 10 ,000 US dollars because I need them to buy the goods from South Africa. And every week is an auction in the central bank where the central bank decides on the value of the exchange rate from the Zimbabwe dollar to the US dollar. So it's decided it's totally controlled. And then when you get your US dollar granted, so you are allowed to exchange it. It's not that you as the business owner get the money and you pay your partner in South Africa. No, the central bank is paying you on your behalf.
The Breakdown
A highlight from The Massive Significance of the PayPal Stablecoin
"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 Saturday, August 12th, and that means it's time for the weekly recap. Sort of. 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. And 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. Hello, friends. Happy Saturday. At the end of this week, I had to travel a little bit last minute. And so my choices were either one, skip the weekly recap altogether or to do something just a little bit different. So obviously, I decided to go with doing something just a little bit different. And basically what you're getting is a long read Saturday on top of a long read Sunday, which is coming tomorrow. Tomorrow's episode is a fun walk down memory lane. If you are interested in Bitcoin, the piece is actually from twenty nineteen. I think you'll really like it. And for today's weekly recap, I have two pieces that are obviously much more contemporaneous. And I think in some ways do certainly reflect big themes that have been on display both this week and last. The first is by Brian Brooks and Charles Calamiris. And of course, Brooks was the acting U .S. comptroller of the currency in twenty twenty and twenty twenty one. And before that, the chief legal officer at Coinbase and is now a partner at Valor Capital Group. Calamiris is now dean of economics, politics and history at the University of Austin, and was the chief economist of the Office of the Comptroller of the Currency under Brooks. The piece they contributed to the Wall Street Journal was called stable coins can keep the dollar the world's reserve currency. And if you listen last week to long read Sunday, you will have heard this argument. Stable coins, they write, blockchain based assets backed by bank deposits and treasury securities are at the heart of a dollar based revolution happening throughout the developing world. Their price is supposed to stay steady, often at one dollar. Think of them as digital versions of prepaid cards with the potential to be important tools of American soft power in a world where the role of the dollar is in question. Stable coins aren't merely a more efficient means of electronic payments. With some economists and policymakers worrying about de -dollarization, i .e. the eclipse of the US dollar as the world's reserve currency, stable coins could bolster the post -war arrangement in which the dollar's dominance helped foster global trade and the biggest reduction in global poverty ever. But that can happen only if Congress implements a sound and stable regulatory framework. That is why House Financial Services Committee Chairman Patrick McHenry's bill to regulate stable coins is vital. It would establish federal and state oversight for stable coin issuers, impose qualifications for reserve assets, and implement rules on redemptions and public disclosure. It's hard to argue with these seemingly bipartisan goals, and Mr. McHenry has collaborated on the bill with Representative Maxine Waters for more than a year. Yet, at last week's vote on the measure, Ms. Waters and most of her Democratic colleagues pulled their support, with no clear reason for their sudden change of heart. Did they suddenly decide stable coins aren't important? Any tool that could boost the US dollar should be considered. Dollars as a share of reserves held by foreign central banks have fallen in the past generation. In 2000, dollars represented almost 73 % of global central bank reserves. Today, the share is around 59%. Though much international trade and many commodity transactions are still settled in dollars, this year, large countries including Brazil and Argentina entered bilateral agreements with China to use the yuan and their local currencies for trade settlement. Rumors abound that a summit next month, including Brazil, Russia, India, China, and South Africa, will consider creating a new currency arrangement. While leaders of the so -called BRICS countries deny an impending currency union, Anil Suklao, South Africa's ambassador -at -large for Asia and BRICS, said, The days of a dollar -centric world are over, and BRICS nations intend to settle trades in their local currencies in the near future. This year, Saudi Finance Minister Mohammad al -Jaddad said Riyadh is open to settling oil trades in currencies other than dollars, once an unthinkable idea. U .S. policy hasn't boosted global confidence in the dollar. The asset freeze on dollar holdings in Russia's central bank imposed after Russia invaded Ukraine, while understandable politically, shocked investors and central bankers, who realized for the first time that the dollar may not be the safe store of value it once was. A de -dollarized world would damage the U .S. The dollar's reserve status reduces U .S. borrowing costs, which is crucial in an era when government borrowing and spending are at a record high and still climbing. Reserve status also insulates the U .S. government, banks, and the general public from foreign exchange risk. All things being equal, reserve status also allows American consumers to buy foreign goods more cheaply, since foreign producers would rather have dollars than other currencies. The nationalist and anti -colonialist impulses behind de -dollarization in the developing world aren't likely to help citizens of those countries. Argentina's decision to price trade deals with China in Yuan and Pesos may reflect Argentina's national pride, but the country's 114 % annual inflation rate means that workers there will see their purchasing power quickly decline. And that's nothing compared with Zimbabwe's 175 % rate or Venezuela's 400%. At the end of last year, 17 countries had inflation rates above 20 % and 57 had rates above 10%. This is where stablecoins come in. Faced with the dismal prospect of saving their wages in local currency stored in local bank accounts, more citizens of high -inflation countries are opting to use dollar -backed stablecoins as a synthetic savings account. Dozens of startups offer stablecoin savings and payment options in Latin America and Africa, often in countries whose leaders are vocally and visibly moving away from the dollar. Dollar -backed stablecoins have market capitalization in the hundreds of billions of dollars, and they support transaction volumes many multiples of that amount. These offerings are attractive to ordinary people in those countries because they don't require an account at a local bank, only an internet connection. In addition, many stablecoins pay interest and have no minimum balance fees and low or no transaction fees. More important, they free people from tyrannical developing world monetary policy and allow them to store the value of their hard work in relatively stable dollar form. Stablecoins could be to finance what Voice of America has been to diplomacy. They can communicate U .S. monetary policy directly to the people living in other countries when American efforts to engage other governments aren't succeeding. If stablecoins flourish, citizens of other countries will increase the demand for dollars independent of, and perhaps contrary to, their government's political decisions. But for stablecoins to succeed, U .S. politicians need to agree that redollarizing the global economy is important. The McHenry Bill is a good place to start.
WTOP
"one dollars" Discussed on WTOP
"Delis glass for all your glass mirror and shower door needs visit delis glass dot com delis glass love your glass coming up on wtop a member of congress from virginia may be about to launch a bid it's 7 51. hey parents did you know that kids eat free all summer long at nats park you can get a free hot dog free chips and a free bottled water that's right kids eat free presented by mars is back through september 3rd mobile order using the code yeah i'll see you at nap visit nap .com kids eat free small cherry slurpee drinks are only one dollar at 7 -eleven it's a drink so full of bold fruity flavor that the amazing price is the just cherry on top stop in a 7 -eleven to get any small slurpee drink for one dollar slurpee anything expires 12 31 20 23 plus tax visit store for details with just one touch you can listen live to wtop on apple carplay or android auto download the wtop app and choose it in your car's play so you never miss the stories you want to know the news you need to know or the traffic you want to wtop news everything you need every time you listen on apple carplay or android auto brought to you by navy federal credit union where members are the mission visit navy federal org insured by cua this is wtop news it's 752 good evening everybody
Mark Levin
Biden Plan Cuts Student Loan Payments to $0
"Net quote -unquote where you don't have to pay one dollar back in your mortgage payments mr. producer are you getting that are those of you with car loans are those of you have your own trucks and pay a fortune every month for your trucks there are people who have to purchase equipment are getting specifically a demographic that produces enormous numbers of for votes them in particular in battleground states with your money now this this is corruption this is unconscionable and yet it's legal that is it's not a crime even though it's unconstitutional and this is what the Democrats do they're turning us into a crap country Joe Biden has spent the last week attacking the state of Israel and Netanyahu over judicial reforms because they have a Supreme Court in Israel that's like the old Stalinist Politburo and even thinks like it it's in every aspect of the civil society there every aspect of the culture every aspect of national security you there's no boundaries for this court because they don't have a constitution in they Israel what they call basic laws and guess who decides what the basic laws are the court guess who decides who sits on the court when there's a retirement the court and their equivalent of the ABA it's an incestuous tyrannical situation
WTOP
"one dollars" Discussed on WTOP
"Cardinals are down to nothing in the second inning dylan carlson with the home run off off mackenzie gore and the nationals offense has yet to generate a hit as of yet now through an inning and a half roughly i mean you can't put the uh three innings and half but yeah you know i was trying to get one change i was trying to get decibel point there in somehow despite my lack of mathematical skills uh you need mathematical skills to uh tally all these orioles run six nothing they're in the third inning in tampa bay as uh and uh... quite the day here for uh... into the santander he's already got a two run homer drove in another run uh... on a single so uh... two at bats three runs batted in that right there is great math the uh... three run homer uh... for aaron hicks is as part of a really big uh... first quarter there uh... kyle bradish take will that run support for strikeouts already through two innings uh... has yet to give up a hit off the diamond part of the years long mass in dispute between the nats and those reportedly has been settled at least in part uh... the uh... washington post reporting the orioles have paid the nationals arrested the approximate one hundred million owed for the local television rights from twenty twelve to twenty sixteen there is however still the next five -year period twenty seventeen to twenty one uh... to settle but uh... still a significant hurdle has been cleared the wizards kyle kuzma headed to free agency reportedly declining his thirteen million dollar player option is looking to cash in on his career year in which is twenty one point points per game or his best as a pro rob woodfork w two p sports k rob primary election night in virginia the latest from the election desk on the way what president biden is saying about his son hunters legal trouble and now talk of a deal stay with us at seven twenty seven the w t o p charity of the month is a hydrocephalus association over one million americans are living with an incurable condition that can only be treated with brain surgery hydrocephalus is caused by a buildup of fluid that puts pressure on the brain and can be developed by anyone from infants to prisoners at any point in their lives the hydrocephalus association provides resources and support to people as well as funding for critical research to find better treatment options and a cure for more information visit w t l o p dot com and search charities when it comes to one dollar small slippy drinks at seven eleven no one's doing it like you you're inventing new flavor combos throwing caution to the wind you're frozen a frozen fizz whiz a pina colada prodigy you mix cherry and blue raspberry like a pro only you know the perfect just when they think
Black Love Matters
"one dollars" Discussed on Black Love Matters
"Oh you wanted to come. So i wanted to. Gosh oh we can So we went to go see niambi. France last co worker Who ain't seen nobody then on a stick shutting recluse anything nobody to hope pandemic like eighteen months that will yes so we wanted to go see down. We'll see her her two dogs because he didn't get another dog and like one dollars like a small less twa other guys. I don't know why it's not rock widely dog or something like that sheepdog way too to dr at least seventy pounds. Aba got some big as paul's lino you depending got a big ass bass voice back at me visiting and just kicking you know It has changed. People tovia has changed a lot of people. She has wonderful house house. India's we airbnb. Bob's does hearing you five star rating. You and try. Look you did you enjoy came up for you. The art how well decorated the house is she has tons of our that. Just i'm just looking at shit and just like forever dynamite. Damn maybe i'm into art me thinking like oh you definitely can't are various you cannot pick me pick up the habit but you cannot hurt me thinking. Maybe i'm into art. You have enough of heaven's maybe i'm into art but i what i thought you want to bring it up for it because it's not really much you know we. We talked about some stuff. But none for the podcast. But i thought would have brought up for you now. Is that you ready to being space. That's what i thought you were internet going here. Well here no nobody no it does it does that. I already from my with going to new york. I know that propo- prose poems that for a little bit of it'd be a spot meeting people won't be there but i know what you mean like ours the way like i want my own spot so i and have to worry about it being. They're taking it back. Dial in a year. now it's balancing. Should i just keep this in the box or do i want to go through the trouble putting it up for it went down through all of that. Go through like do i want to buy. I work from home now. Do i want to buy good work from home. Furniture the something that like heavy shit. That's going to have to stay there because nobody's gonna be breaking the sit down and taking it all sorts of places that's episode right or just setting up way setting up things that you know you might like or you know things that you just want him to spare me like i wanna hang something. I wanna put holes in the wall and not have to worry about like. Oh i need to feel this. Yeah exactly and.
The Brit and Yankee Craft Beer Pubcast
"one dollars" Discussed on The Brit and Yankee Craft Beer Pubcast
"Laid back a little things in the bottom of your glass. Oh the little things in the baltimore. My glass okay. So i am drinking alcohol. An official big thorn fom Sniffed and at the baltimore it it has kind of a swahili etching design itching. It's it's like. Nor joseph stick up an of us swirly things so basically when you swirl it around you get little extra action in combination. Now he i think you said that was cool something It's it's nucleus insights. I figured you were talking about some. Etchings does like fat tire makes classes with the little bicycle etched autumn. And the same thing bubbles while mine's filled with oats number three at the moment. So when i m to all let you see what's in there but it's kind of like a little swirly some thing in the baltimore you can see it from now sign if you hold it up high. You can all swirls go outside. Yeah you can see. This is really good radio. It's canada looking at the looming up. My baltim- nice swirl. For thank you. Yeah and i. I think adds a little extra something as you swallowed round but i really liked to go see. Look as i swallow it around. I've now look had coming on that beautiful. So do i really is so can you as we sit on the deck are intrigued with my good buffet. Yes how many different birds have you seen already lots of red wing blackbirds. Blackbirds blue jays. Sparrows and whatever. That thing is with the dark. Oh that is a White bristles and not. Okay one of those things. Now in the winter we get Rose-breasted or chestnut jess not breasted dot tattoos s just slightly smaller got little chestnut breast when we is really cool because they run on up and down the the trees. He was hanging upside down. There wasn't there. They're pretty good right side. Looks like i can't see it from you know. It's the food of all in the cages. Penis pena's no on the right all as soon as so. That's okay it's woodpecker so it so here because we got a lot of trees around the pub gone Well let's chickeny little chicken black half. Chickeny what chu thank you. Well we we have an awful lot of woodpeckers in this area red bellied downey And then harry will peck us. And they really liked the suet. What are the orange and red balls lights. Or what the orange and red bulls mike. Goodness male pull my pants off now. That those one dollars hanging in food or some. Yeah no nothing like that. So it's it's a nature Extravaganza.
Charlas sobre TDAH
"one dollars" Discussed on Charlas sobre TDAH
"Be very make If he'll staff one. But i'm monday the mic lamma maccanico contrary missile launcher ceremony. And thus every newly nimmo's use a canadian which you said you know you've got he says all cancers those who might have no sign it means more garo a nina's concentrated voters with the one dollars fatal in tediousness than the anthea. Could i love dongyang. Funded baragan sufa. Komo twitter smash majority savagely or doing sabean said that the helmet don't mia awash speaks yes yonder. They are was missing. That means a lot route. Dr dementia gate it in not even can't go without dollars. Little teeny moustache. Risk of in boras. We'll steamer see. Do not more stack escobar. They said. I don't know supreme macedonia. The steelers lucia look the body the latest year. Who met. I miss her salary of get monotonous in the morning. One america film yesterday muslim. Maureen your meal cabinets your thrashing windows local to underneath about the yes. You'll be yeah to just look at cisco but at this that feed dunham pocket static scupper but this is the biggest esteem. See none other hat. She noted a class at. This does not get fitted tokyo cookie. Talk more. stay with us. You came on got.
Podcast RadioViajera
"one dollars" Discussed on Podcast RadioViajera
"Three seattle docomo voluntary achey a yeah but oughta rattle mercy. Eta remember north accident. They learn about the movie and brower. I'll i'll let i'll let you said in on the us llc and take the obama. And i'll go passer in three that. Then they lemus preliminary king on a permanent and they're an integral canedos a a initial loonier saw in all says in a center fast and one guy relatively that joel cryonic lead. I'll go a key dima disease. Look your body body mobile. They don't need then. Long career lagoon guessing the bengochea. Either neal's who that ski get more candle daily s qantas catheter. Nadia did a restaurant sabbath till the it to the manatee matica they one but look at the movie and key suspects all into something that they to say in an hour hero. Nato's they the me going on able candlelit seminar. Lisa's y'all mauvais veil on the e. l. initial universal he signed contract to gain but mueller the super duty l. Super kid incorporeal will eat. Put allow a job. When i came some holy sarah huckabee not applicable alison on cuba. Also located of nearly one dollars on some with women come out with it the komo komo now in panel not solomon the poverty tallec from the thousand okay as sia gone on the horizon mcleod. Lose good okay. Even casa interest in local eastern nato. Cally sunday at three other neutral on the e one combined with eloquent associated career. You look you getting unit podcast. Moot angry with but at the moment meant me. Gay my komotini mobile to near the internet theralac persona guitar..
The big d zone
"one dollars" Discussed on The big d zone
"I'm staying at but it's like more middle at the south of the strip at the luxor. So anyway oh why do i have to be jealous. Why and especially. I had mother's day yesterday but then what made a better is that i had the concert. Yes the last weekend and always it's always designed to dallas it always designed and the only thing that i could do you can't be a fodder teach a class for giant going to do with class clown so but i am definitely can't wait to hopefully gets a van and i hope that i'll have a heart attack because there one time that i wanted to thousand dollars when i went to harris and then at link i nearly had a heart attack because i almost went ten thousand dollars almost was teasing me and then one on different. There was teasing me. So hopefully. Because i had to go through this bad year and then i had to go to last twenty twenty bad. Yeah united in the middle of that but hopefully they'll be something good at the this turmoil and pressure even after what happened to the bank. I still can't believe twenty one dollars three items a rupiah keitel's and and a monster. I can understand if what twenty one days or or you know five thirty. This was three eidos. This was three hato clause cnn store. But if it before you really looked in her money. Wow unbelievable unbelievable. So i mean. I thought i had a scuffle with the bank and like that and you know put me in as predicted. I'm tired out. So wow anyway. Anyhow so i am waiting for my flight and i'm pretty good so i just wanna let john know that i'm here and all that good stuff so you probably won't be able to hear this hotel. We'll try to see if i can put on there but knowing. That app doesn't wanna work. But i'm elise vaca put up there but i'm here the applaud..
Heartland Newsfeed Radio Network
"one dollars" Discussed on Heartland Newsfeed Radio Network
"One. Dollar.
Health Care Rounds
"one dollars" Discussed on Health Care Rounds
"Scores are related are proportional to clinical outcomes That's why the government is pushing them so much so it is it's a it's a triple win By investing a small amount. I think it was deloitte or press ganey that said for every four dollars that a hospital spends for marketing is equal to only one dollars spent on increasing patient experience. Course so stop worrying about the bulletin boards because most people get their referrals from other patients. And they you know as you said you love your doctor So and then i talked to him about malpractice. And so it's just a win win win and So where we're we've been pretty busy. I'm really happy and now the new the new thing now is i'm training business. I mean you're in business. You know business leaders The big thing now is culture change. And and what's you know. Why is it that the smartest guy in that department. is also the absolute worst leader and people are leaving. And there's a massive turnover. The answer is very simple is that nobody taught them how to lead. And the way you lead is to get people to follow you. Not one of my favorite sayings is people don't follow because they're forced to people follow because they want to go So i've been asked to speak to Businesses and hr professionals on how to have those conversations and get people excited about working with them again. Yeah culture is so important we just went through An exercise as a company and not so much envisioned mission but know what are the elements of our values and our culture that people not so much aspirational. But that people can see each other and how we work together and as a really powerful Exercise and identified. You know those things really that we all stood for and you could see leadership. It's one of those things that it's not now. I have the title right but people should follow my lead because they want to because they're motivated to not. Because i tell them to do something right. I totally agree with what you said. And there are other leaders within the within this organization. The same thing holds true. So it's not just the title right Last question..
RADCast Outdoors
"one dollars" Discussed on RADCast Outdoors
"We use it all the time and we've been using it for a lot of years and i'm doing wild game or whether i'm just i i got a couple of bottles now next to the stove. Nowhere cooking beefsteak which is very rare. Or if we're looking for jobs which is a little more common or having even just elk l. Cameron and they have they have so many options and their sexy good company right here locally so get on their website definitely order you. If you've never heard of of high mountain seasonings you know. They have some small couple out shaker bottles. You could a couple bucks a piece you can buy a couple of different flavors. My favorite is the hickory burger. Like if you're a big fan of hamburgers like i am you just take that hickory. Burger seasoning and just sprinkle it on your patties before you throw them on the grill. Oh my gosh. Those are really good. And the other day i did that. You live like david We did some racks of pork ribs. And i took the garlic rub garlic and black pepper rubbed. My favorite one is good. But i bought one dollars huge bottles of it because we use it a lot. I put it on their let. It sit overnight and then smoked them and slow cooked them. Oh my gosh. It was delicious so definitely go. Check them out. And then fremont stoneworks We're going to have some glasses out there that you guys are going to be able to see on our website. They do a lot of great work. again mike and his company. It's a they do signs and glassworks hall all married the sizes you know if you wanna give somebody a wedding anniversary gift or a birthday gift or a new home gift or just check out their glasses..
Business School
"one dollars" Discussed on Business School
"The craig me if i'm wrong but for me there was a there was a really cool la moment here which i've never which you know. I understand the structuring component of the south but couple of pieces kind of Connected from you one was when you said. Hey i want the best policy that i can have right now is a policy with a one dollar death benefit those a data point. I was like okay but then you said well. I can't get that because of these tables and things like that because of requirements cool so assume that there is a baseline of a death benefit that is necessary so so now i know that the best policy that i can have as a one dollars that benefit number two. There's probably a baseline but number three. I can borrow against my policy to artificially reduce my death benefit to a dollar is that did i. Did i get it. You're you're absolutely getting your. You're moving in the direction where we are playing control right. We are being in control. And i don't know as there's anything that we won't more is control like give us the wheel. Would you to be honest. Sharon just to add something else. You're an entrepreneur. You already know. There's something wrong with our current financial industry because it doesn't make sense to you right. You're in the business of cash flow if you're if you don't have cash.
Biz Talk Radio
"one dollars" Discussed on Biz Talk Radio
"Invest your first dollar in the Yeah. What? Don't save to Owen don't invest. Same to same say doing this. Don't say for the sake of saving right, you save to invest. There's only one reason to save money. Here's what you need to know about the brand new Spider Man universe. I'm Andy Solomon Marvel Spider Man puts players and an original story action packed with adventure for the famous Web slinger players take on the role of an experienced spider man who has spent eight years behind the mask, defeating new threats as they emerge PlayStations Assad Kissel bash has more despite amount is more experienced and yet still vulnerable. He's honed his acrobatic agility and mastered combat, which will see right away in the first few minutes again play but Peter Parker He also grappled with this mounting pressure not to mess things up. He's older, have jobs and bills to pay you learn. It's not easy being piece of Park it and Spider Man When these two worlds collide, the gameplay is remarkable. Just like the story. And how about Marvel's New York City models? New York City is impressive, and so Mia really outdid themselves with the Games, richly detailed Manhattan neighborhood. Definitely take some time to swing around the city. It's know me a lot of fun, but you might just find the hidden secret or two. For more information on Marvel Spider Man visit PlayStation dot com Don't you always want to be the best you could be the Frankie boy or show? What Miss this. It's more than a lifestyle show. It's a show about living in today's world. I think something is happening. Frankie enthusiastically brings an amazing, eclectic mix to the airwaves. You got that right? One of the reasons she's earned legions of loyal fans is very simple. When you listen to the Frankie Boyer show, you just never know what's going to happen if So listen for yourself. Here is Frankie Boyer and welcome It is so nice to have you with us right here on this talk radio, and I'm so excited to welcome Former chief of staff to one of the greatest mayors Boston ever had Mayor Thomas Menino and he's also um A Harvard business habit. Let me rephrase the habit. Business school professor Um Mitchell. Wise, Welcome..
Podcast RadioViajera
"one dollars" Discussed on Podcast RadioViajera
"The in in in your spinal. Enter into happy. Mondays demon located. I can on. The one dollars. Did all a lot of youth. You don't mind you know is I a baltimore window get anymore so unia me and my the people didn't even my than they might. You know you no no no battle mobile income with ankle on A lot of wonderful goal on going on audacity cuddled kind of thing in the mighty couldn't come in. It advised those of my hip hop danny masan haven't been on the but goping courtroom and he founded fan.