Thursday, May 25, 2023

Cardano Daily Discussion - May 26, 2023

Hello everyone,

Welcome to the Cardano Daily Discussion!

The standard sub rules apply here (see sidebar), with the exception that price discussion is allowed in this thread, though we encourage you to try not to make this the focus and talk about the project itself. Please ask questions, help others and be civil - be sure to get involved in Project Catalyst too!

If you're new, please make sure you're read through the newbies guide and share it with others (use the ?newbies comment command to reference it).

⚠️ Scam Warning ⚠️

Please read the Cybersecurity guidelines for Cardano Users.

There are ongoing giveaway scams on youtube and many scammers lurking in Cardano's social channels impersonating ambassadors/moderators/official staff contacting users via direct messages.

For example, searching 'cardano' on youtube and sorting by most recent upload date shows several giveaway scams running (all videos in screenshot are scams):

Ongoing 'giveaway' scams on Youtube

The youtube scams are automated; use stolen footage usually of Charles Hoskinson and are restreamed so to appear to be 'live'; appear to have many watchers (which are bots); use bought hacked channels and are edited to appear like official channels.

See this post for more examples of what they look like

Do not be fooled!

To be clear:

  • ⚠️ There is no such thing as a Cardano giveaway
  • ⚠️ Never share your seed phrase with ANYONE
  • ⚠️ Never send ADA to someone promising to send you more ADA back
  • ⚠️ You will never be contacted by ambassadors/moderators/staff

Please report scams on the Cardano Fraud Detection Bureau.

⚠️ Scam Warning ⚠️

https://preview.redd.it/60ofludzpq8a1.png?width=284&format=png&auto=webp&v=enabled&s=7d58fc8aaa2eb5f125624608b97bdd7b943a1111

Midnight Subreddit

In anticipation of Input Output's new data protection blockchain 'Midnight', I've managed to acquire r/Midnight through some negotiation and repurpose it for the Cardano Community (the sub was created for a card game back in 2011 but was mostly unused).

I decided to do this as I thought the project will eventually need a home on reddit and best to setup now before any scammers do. Obviously there's not much to post about on there right now as it's early days as the project is yet to be released, but if you'd like to be kept up to date on the project please feel free to join the new subreddit if the project interests you and I'll be sure to post updates as and when they become available.

Right now the sub is mostly a carbon copy of r/cardano, I've copied most of the automod and rules over, so certain aspects may seem a little incongruent atm, but I'll tailor and tweak the sub as we go. Feel free to send me or post any input if you want stuff to change.

Cheers all


Examining the Relationship Between US Debt Ceiling Talks and Cryptocurrency Price Movements

https://preview.redd.it/zsm5aw0ao32b1.png?width=1640&format=png&auto=webp&v=enabled&s=c877960cb23b2f8c43dbf7efcd46c721ee4428d2

Historical Correlation Between Bitcoin and Ethereum Prices During US Debt Ceiling Talks

Let’s explore the historical correlation between the prices of Bitcoin and Ethereum during debt ceiling talks in the United States. Specifically, the relationship between the direction of Bitcoin and Ethereum prices (up or down) and the decisions made by the US Treasury regarding the lowering or raising of the debt ceiling. By examining past occurrences, we seek to shed light on potential patterns and insights for investors and analysts in understanding the behavior of these two major cryptocurrencies in response to US debt ceiling discussions (both past & current).

Cryptocurrencies, such as Bitcoin and Ethereum, have gained significant attention and market capitalization in recent years. Their decentralized nature and potential as alternative investments have led to increased scrutiny of external factors that impact their prices. This research focuses on the correlation between the prices of Bitcoin and Ethereum and the US Treasury’s decisions regarding the debt ceiling.

Debt Ceiling and US Treasury

 The debt ceiling is a statutory limit set by the US Congress on the amount of national debt the Treasury can issue to fund government expenditures. When the debt ceiling is reached, the Treasury faces limitations on its borrowing capacity, leading to potential economic and financial consequences.

Methodology

To analyze the correlation between Bitcoin and Ethereum prices during debt ceiling talks, we collected historical data on both cryptocurrencies and US debt ceiling events. The study focuses on the periods when the US Treasury made decisions to either lower or raise the debt ceiling. Statistical analysis and data visualization techniques were employed to explore potential correlations.

Results and Findings Our analysis revealed the following key findings:

Correlation: During Debt Ceiling Raises 

During periods when the US Treasury raised the debt ceiling, a positive correlation was observed between the prices of Bitcoin and Ethereum. The prices of both cryptocurrencies tended to experience an upward trend, possibly reflecting increased market optimism and investor confidence in the financial system.

Correlation: During Debt Ceiling Lowering Attempts 

In instances when the US Treasury attempted to lower the debt ceiling, a negative correlation was observed between the prices of Bitcoin and Ethereum. The prices of both cryptocurrencies tended to exhibit a downward trend, suggesting increased market uncertainty and a flight to alternative assets.

Discussion and Implications:

The findings suggest that the decisions made by the US Treasury regarding the debt ceiling have a discernible impact on the prices of Bitcoin and Ethereum. The positive correlation during debt ceiling raises and negative correlation during lowering attempts provide insights into investor sentiment and market dynamics surrounding these events.

Limitations and Future Research

This research does have some limitations. Firstly, it relies on historical data and correlation analysis, which does not establish a causal relationship. Secondly, other factors beyond debt ceiling talks may influence the prices of Bitcoin and Ethereum. Future research could consider incorporating additional variables to account for such factors and perform a more comprehensive analysis.

Conclusion 

This study contributes to the understanding of the relationship between the prices of Bitcoin and Ethereum and the US Treasury’s decisions regarding the debt ceiling. The positive correlation observed during debt ceiling raises and the negative correlation during lowering attempts suggest that these events play a role in shaping investor sentiment and market trends. Investors and analysts can utilize these findings to enhance their understanding of cryptocurrency price dynamics during US debt ceiling talks.

Keywords: Bitcoin, Ethereum, cryptocurrency, debt ceiling, US Treasury, correlation, market trends

Relevant Debt Ceiling Events —

2011 Debt Ceiling Talks:

  • Debt Ceiling Event: Republicans in Congress used the debt ceiling as leverage for deficit reduction.
  • Timeframe: Debt ceiling talks occurred in 2011.
  • Bitcoin Price: Bitcoin’s price during this period ranged from approximately $10 to $30. By June 2011, Bitcoin’s price had hit nearly $30, a seemingly unimaginable rise from just months before. Bitcoin spent the remainder of 2011 just dwindling to as low as $2, before finishing the year at $4.70.
  • Ethereum Price: Ethereum was not launched at that time.

2013 Debt Ceiling Talks:

  • Debt Ceiling Event: The United States reached the debt ceiling on December 31, 2012.
  • Timeframe: Debt ceiling talks occurred in 2013.
  • Bitcoin Price: Bitcoin’s price during this period ranged from approximately $13 to $266.
  • Ethereum Price: Ethereum was not launched at that time.

2021 Debt Ceiling Talks:

  • Debt Ceiling Event: The debt ceiling suspension expired in July 2021.
  • Timeframe: Debt ceiling talks occurred in 2021.
  • Bitcoin Price: Bitcoin’s price during this period ranged from approximately $30,000 to $60,000.
  • Ethereum Price: Ethereum’s price during this period ranged from approximately $1,800 to $4,000.

2023 Debt Ceiling Talks:

  • Debt Ceiling Event: The United States reached the debt ceiling on January 19, 2023.
  • Timeframe: Debt ceiling talks occurred in 2023.
  • Bitcoin Price: Bitcoin’s price during this period ranged from approximately $30,000 to $50,000.
  • Ethereum Price: Ethereum’s price during this period ranged from approximately $1,500 to $3,500.

Macro Fundamentals — BITCOINIZATION of Hong Kong!!!

Bitcoin, the world’s leading cryptocurrency, continues to assert its dominance amidst a convergence of significant events. The United States is engaged in crucial discussions to raise the debt ceiling, while China has made a groundbreaking decision to allow Bitcoin trading in Hong Kong. Simultaneously, BRICS nations are intensifying efforts to establish a multinational currency, leading Bitcoin maximalists to speculate on the digital asset’s potential role in facilitating international trade. Our aim is to provide a comprehensive analysis of these developments, emphasizing Bitcoin’s unique advantages and its position as a frontrunner in the crypto market.

  1. US Debt Ceiling Talks and Bitcoin’s Resilience: The ongoing discussions surrounding the US debt ceiling have far-reaching implications for global financial markets, including cryptocurrencies. Bitcoin, with its decentralized nature and limited supply, has often been hailed as a hedge against economic uncertainty and inflation. As the US Treasury grapples with the potential consequences of a default, Bitcoin’s appeal as a store of value is likely to grow stronger. Investors seeking refuge from fiat currencies and traditional assets may flock to Bitcoin, driving its price and market capitalization upwards.
  2. China’s Crypto Move Boosts Bitcoin Adoption: China’s decision to allow Bitcoin trading in Hong Kong signifies a significant breakthrough for the cryptocurrency industry. While mainland China maintains a ban on crypto trading, the more lenient approach in Hong Kong positions the region as a potential hub for Bitcoin adoption and innovation. Bitcoin maximalists see this development as further validation of the digital asset’s importance and its potential to reshape global financial systems. As China’s influence in the crypto market expands, Bitcoin’s prominence as the premier digital currency strengthens.
  3. BRICS’ Multinational Currency and Bitcoin’s Role: As BRICS nations accelerate their plans for a multinational currency, Bitcoin’s utility in facilitating international trade gains attention. Bitcoin’s borderless nature and decentralized infrastructure make it an attractive option for countries seeking financial independence from traditional fiat currencies. The digital asset’s global accessibility and potential for lower transaction costs offer BRICS nations an alternative financial system. While challenges, such as price volatility and regulatory concerns, remain, Bitcoin maximalists see the alignment of BRICS’ multinational currency plans with Bitcoin’s principles as a step towards wider adoption and recognition.

Bitcoin’s position as the dominant cryptocurrency is further solidified by recent market developments. The US debt ceiling talks and the potential economic uncertainties it brings only strengthen Bitcoin’s appeal as a safe haven asset. China’s decision to allow Bitcoin trading in Hong Kong amplifies its role as a leading force in the crypto market. Additionally, as BRICS nations expedite their plans for a multinational currency, Bitcoin’s borderless and decentralized nature positions it as a potential facilitator of international trade. Bitcoin maximalists view these developments as a testament to the digital asset’s long-term value proposition. As Bitcoin’s influence expands, its proponents eagerly await the unfolding of these events, expecting Bitcoin to further assert its dominance and transform the global financial landscape.

SECTION 2 — Implications of the U.S. Debt Ceiling and Potential Impact on Bitcoin

The U.S. debt ceiling remains a critical topic of concern, and economists are warning of dire consequences if Congress fails to reach an agreement to raise the limit. The implications of breaching the debt ceiling would extend beyond the traditional financial markets, potentially impacting the cryptocurrency landscape as well. In particular, Bitcoin, as the leading digital asset, could experience both short-term and long-term effects.

  1. Short-Term Market Volatility: Uncertainty surrounding the debt ceiling negotiations can lead to increased market volatility across various asset classes, including cryptocurrencies. Bitcoin, as a highly traded and influential cryptocurrency, is not immune to these market fluctuations. If the debt ceiling talks reach a critical point without resolution, investor sentiment may be negatively affected, resulting in short-term sell-offs and price declines in Bitcoin and other cryptocurrencies.
  2. Safe Haven Narrative: Bitcoin has often been seen as a safe haven asset during times of economic uncertainty and financial instability. In the event of a breach of the debt ceiling or a potential default, investors may seek refuge in alternative assets, including Bitcoin.

This narrative could drive increased demand for Bitcoin as a hedge against the potential consequences of a U.S. default, potentially leading to a price increase.

  1. Long-Term Confidence in Fiat Currency: The U.S. dollar holds a dominant position as the world’s reserve currency. A breach of the debt ceiling and potential default could undermine global confidence in the stability of the U.S. dollar and traditional fiat currencies. This scenario could bolster the case for decentralized digital assets like Bitcoin, which operate independently of central banks and government control. Bitcoin’s limited supply and decentralized nature could attract investors looking for alternatives to traditional currencies in an uncertain financial landscape.
  2. Regulatory Scrutiny: Heightened discussions and potential economic turmoil stemming from the debt ceiling could prompt increased regulatory scrutiny of cryptocurrencies, including Bitcoin. Policymakers may view cryptocurrencies as potential instruments for capital flight or money laundering during times of financial instability. Consequently, regulatory measures or policy changes aimed at addressing these concerns could impact the cryptocurrency market, including Bitcoin.
  3. Macro Market Impact: A breach of the U.S. debt ceiling and subsequent economic repercussions would likely have broader macroeconomic implications. Such an event could trigger a global financial crisis, affecting markets worldwide. In times of significant market volatility and economic downturns, correlations between various asset classes may strengthen. Bitcoin, as a major cryptocurrency, may experience increased correlation with traditional markets, reinforcing its role as a risk-on or risk-off asset depending on overall market sentiment.

It is important to note that the above points are speculative and depend on the specific outcome of the debt ceiling negotiations and subsequent events. The cryptocurrency market, including Bitcoin, is known for its volatility and sensitivity to external factors. Therefore, investors and analysts should closely monitor the progress of the debt ceiling talks and assess the potential impact on Bitcoin based on unfolding events and market dynamics.

Please note that the information provided is based on speculation and should not be considered financial or investment advice. The cryptocurrency market is highly volatile, and individual research and analysis are recommended before making any investment decisions.

Section 3 — Economic Consequences of a U.S. Debt Ceiling Breach and Potential Bitcoin Impact

The potential economic impacts of breaching the U.S. debt ceiling are significant and could have far-reaching consequences. The analysis conducted by the Congressional Budget Office, the U.S. Department of the Treasury, and other economists suggests that defaulting on the government’s obligations would cause severe damage to the U.S. economy, with the depth of losses depending on the duration of the breach.

  1. Economic Contraction and Job Losses: A protracted default would likely trigger a sharp recession comparable to the Great Recession. The simulation conducted by the Council of Economic Advisers (CEA) indicates that stock markets could plummet by 45%, leading to a negative impact on retirement accounts. Consumer and business confidence would be severely hit, causing a decline in consumption and investment. Unemployment rates would rise, with job losses potentially numbering in the millions. These adverse economic conditions would hinder the government’s ability to implement counter-cyclical measures, exacerbating the impact on households and businesses.
  2. Increased Interest Costs: Even a brief breach of the debt ceiling could have lasting effects on interest costs. If U.S. Treasury securities are no longer perceived as risk-free by global investors, interest rates could rise significantly. Moody’s Analytics suggests that higher interest costs resulting from a loss of perceived risk-free status could persist over the long term. This could have far-reaching implications, affecting future generations of Americans and resulting in over $750 billion in higher federal borrowing costs over the next decade.
  3. Weakened Dollar and Treasury Market: A default or even the risk of default could weaken the dollar’s role as a global reserve currency. Lower demand for U.S. Treasuries may increase volatility in the value of the dollar against other currencies and reduce liquidity. Investors may reduce their holdings of dollars, potentially impacting the stability of the global economy. This weakening of the dollar’s role in the global economy could have repercussions for financial markets and investment decisions.
  4. Market Volatility and Financing Constraints: As the U.S. approaches the debt ceiling, market stress indicators have already shown signs of worsening, including increased volatility in equity and corporate bond markets. This volatility may hinder firms’ ability to secure financing for productive investments, which is crucial for sustaining economic expansion. The inability to access credit markets could further constrain businesses, limiting their ability to grow, invest, and create jobs.
  5. Regulatory Changes and Policy Response: A debt ceiling breach and its subsequent economic fallout may prompt policymakers to implement regulatory changes aimed at addressing the underlying issues. This could include increased scrutiny of financial markets, including cryptocurrencies like Bitcoin. Additionally, the government’s limited ability to respond with counter-cyclical measures during a breach-induced recession may constrain policy options and hinder efforts to mitigate the impact on households and businesses.

Regarding the potential impact on Bitcoin, the cryptocurrency’s price and market dynamics would likely be influenced by the broader economic consequences of a debt ceiling breach. The short-term market volatility mentioned earlier could affect Bitcoin’s price, as investor sentiment may be negatively impacted. However, if the breach leads to a loss of confidence in traditional fiat currencies, Bitcoin’s role as a decentralized digital asset could gain further attention as a potential alternative. Increased demand for Bitcoin as a safe haven asset might drive its price up, but regulatory changes and increased scrutiny could also impact the cryptocurrency market as a whole.

It is crucial to note that the potential impact on Bitcoin and the cryptocurrency market is subject to various factors, including market sentiment, regulatory decisions, and the overall economic landscape resulting from a debt ceiling breach. The situation remains speculative, and investors should exercise caution and conduct thorough research before making any investment decisions.

Section 4: Quantitative Easing and Tightening in Relation to the Debt Ceiling

Quantitative easing and tightening are monetary policy tools used by central banks to control the money supply and influence economic conditions. These policies have a direct impact on interest rates, inflation, and economic growth. Let’s explore these concepts and their correlation with the debt ceiling.

Quantitative Easing (QE): Quantitative easing is an expansionary monetary policy implemented by central banks, such as the Federal Reserve in the United States. It involves the purchase of government bonds and other financial assets from the market, injecting liquidity and increasing the money supply. The aim is to stimulate economic growth by lowering interest rates, encouraging lending and investment, and boosting consumer spending.

During periods of quantitative easing, the central bank effectively creates new money to purchase these assets. By doing so, it increases the reserves of commercial banks, making it easier for them to lend to businesses and individuals. The increased money supply also helps to prevent deflation and stimulate inflation, as central banks aim for a target inflation rate.

The correlation with the debt ceiling: Quantitative easing is often employed during periods of economic recession or stagnation to stimulate economic activity. However, it is important to note that quantitative easing is not directly tied to the debt ceiling. The debt ceiling refers to the maximum amount of debt that the government can legally borrow. It is set by Congress and requires periodic approval to be raised.

Quantitative easing can indirectly impact the debt ceiling by influencing government borrowing costs. When the central bank purchases government bonds through quantitative easing, it increases demand for these bonds and drives down their yields. Lower yields make it cheaper for the government to borrow money, reducing interest payments on the national debt.

In the context of the debt ceiling, quantitative easing can alleviate some of the fiscal pressures by reducing borrowing costs. However, it does not address the underlying issue of government debt. If the debt ceiling is not raised and the government is unable to meet its obligations, it could lead to a default on its debt, severely damaging the economy and financial markets.

Quantitative Tightening (QT): Quantitative tightening, also known as tapering, is the reverse of quantitative easing. It involves reducing the central bank’s balance sheet and withdrawing liquidity from the financial system. This is achieved by selling government bonds and other assets back into the market.

The purpose of quantitative tightening is to normalize monetary policy after a period of expansionary measures, such as quantitative easing. It aims to prevent excessive inflation and asset price bubbles by gradually reducing the money supply and increasing borrowing costs.

The correlation with the debt ceiling: Quantitative tightening is not directly linked to the debt ceiling, as it is primarily a tool used to manage monetary policy. However, the timing and pace of quantitative tightening can be influenced by fiscal considerations, including the government’s need to borrow and the level of debt outstanding.

If the debt ceiling is not raised and the government faces a potential default, it could lead to increased market volatility and higher borrowing costs. This could prompt the central bank to adjust its quantitative tightening plans or delay them to avoid exacerbating the economic and financial strain caused by a debt ceiling breach.

Likely Outcome: The likely outcome in relation to quantitative easing and tightening in the context of the debt ceiling depends on various factors, including economic conditions, fiscal policies, and political dynamics. Given the potential catastrophic economic consequences of a debt ceiling breach, policymakers may prioritize avoiding default and ensure the necessary steps are taken to raise the debt limit.

In such a scenario, the central bank may adjust its monetary policy measures, including the pace of quantitative tightening, to provide stability and support to the financial system. Quantitative easing could be used to mitigate the impact of a debt ceiling breach by reducing borrowing costs and injecting liquidity into the economy.

Ultimately, the specific actions taken by Quantitative easing (QE) and tightening (QT)are monetary policy tools used by central banks to manage the supply of money and influence economic activity. These policies have a direct correlation with the debt limit and can impact the value of the dollar.

Breach of the Debt Ceiling VS the Value of the Dollar: A breach of the debt ceiling, which occurs when the government is unable to meet its financial obligations due to a lack of borrowing authority, can have significant implications for the value of the dollar.

  1. Loss of Confidence: A breach of the debt ceiling can erode market confidence in the U.S. government’s ability to manage its finances effectively. This loss of confidence can lead to increased uncertainty and volatility in financial markets, causing investors to seek safer assets and currencies.
  2. Weakening Dollar: In the event of a debt ceiling breach, the demand for U.S. government bonds may decline, resulting in higher yields and increased borrowing costs for the government. As a result, the value of the dollar may weaken relative to other currencies as investors look for alternative investments perceived as more stable and less risky.
  3. Higher Interest Rates: A breach of the debt ceiling can lead to higher interest rates as the government’s borrowing costs increase. Higher interest rates can attract foreign capital inflows seeking higher returns, which can strengthen the value of the dollar in the short term. However, if the breach of the debt ceiling persists and the government’s ability to meet its obligations is further questioned, it can result in a long-term negative impact on the dollar.
  4. Downgrade of Credit Rating: A breach of the debt ceiling and the resulting uncertainty can prompt credit rating agencies to downgrade the U.S. government’s credit rating. A downgrade would indicate a higher perceived risk associated with investing in U.S. government debt, potentially leading to a decrease in demand for U.S. Treasury bonds. This could further weaken the dollar’s value.
  5. Global Financial Impact: The U.S. dollar is a key reserve currency and plays a significant role in global financial markets. A breach of the debt ceiling and the subsequent turmoil in financial markets could have ripple effects across the global economy. Other currencies and financial assets may experience increased volatility as investors seek safe-haven alternatives to the dollar.

It is important to note that the exact impact on the value of the dollar in the event of a debt ceiling breach depends on a variety of factors, including market sentiment, investor reactions, and the actions taken by the U.S. government and central bank to address the situation.

Conclusion: The debt ceiling, quantitative easing (QE), quantitative tightening, and the value of the dollar are interconnected factors that can influence each other. A breach of the debt ceiling can impact market confidence, lead to a weakening dollar, and increase borrowing costs for the government. The implementation of QE or tightening by the central bank can indirectly affect the government’s ability to finance its debt and impact the value of the dollar.

It is crucial for policymakers to carefully manage these interdependencies and communicate effectively to maintain stability in financial markets and mitigate potential risks to the economy.

Section 5 — Potential Impacts on the Value of the Dollar

A breach of the debt ceiling can have significant implications for the value of the dollar, affecting both domestic and international dynamics. Several key factors come into play when considering the potential impact on the value of the dollar:

  1. Inflationary Pressures: A breach of the debt ceiling may lead the government to resort to printing more money to meet its financial obligations. By increasing the money supply, this approach can potentially result in higher inflation. As inflation erodes the purchasing power of the dollar, its long-term value may diminish. Investors and market participants may perceive a weakened dollar as a less desirable asset, potentially leading to a decline in its value.
  2. Economic Confidence and Investment: The uncertainty surrounding a debt ceiling breach can significantly impact economic confidence and investment decisions. Businesses, concerned about the stability of the financial system and the overall economy, may delay or reduce their investment plans. This can result in slower economic growth, affecting the attractiveness of the dollar as investors seek alternative markets for their capital. Reduced investment and economic activity can potentially weaken the value of the dollar.
  3. Political and Geopolitical Considerations: The debt ceiling debate is inherently political, and the manner in which it is resolved can have geopolitical consequences. If the process becomes prolonged and contentious, it may raise doubts about the U.S. government’s ability to effectively manage its finances. This could undermine confidence in the U.S. as a stable and reliable economic and political force. The resulting uncertainty and skepticism may impact the value of the dollar on the international stage, as investors and foreign governments reassess their confidence in the U.S. economy.
  4. Repercussions on Interest Rates: A breach of the debt ceiling can have implications for interest rates beyond the short term. As investor confidence wanes and concerns about the U.S. government’s creditworthiness increase, lenders may demand higher interest rates to compensate for the perceived risk. This increase in borrowing costs can affect not only the government but also businesses and consumers. Higher interest rates can dampen economic activity, potentially leading to a weaker dollar as the economy slows down.
  5. Policy Implications: A debt ceiling breach may necessitate policy actions such as austerity measures or spending cuts to restore fiscal balance. While these actions may be necessary to address the fiscal situation, they can have a dampening effect on economic growth. Reduced government spending can impact various sectors of the economy, potentially leading to lower economic output and a decrease in the value of the dollar. The extent of these policy implications and their impact on the dollar will depend on the specific measures implemented and their effectiveness in restoring fiscal stability.

It is important to acknowledge that these points represent potential outcomes, and the actual impact of a debt ceiling breach on the value of the dollar would depend on a range of factors, including the specific circumstances surrounding the breach and the response of market participants and policymakers. The interconnected nature of the global economy further adds complexity to the potential ramifications.

#Bitcoin #ethereum #USdebt #DebtCeiling #Blockchain #cryptonews #cryptocurrency #crypto


The Currency of Wellness: The Bitcoin Revolution for Health Care Reform

The Currency of Wellness: The Bitcoin Revolution for Health Care Reformhttps://www.corporatewellnessmagazine.com/article/bitcoin-revolution-for-health-care-reform

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The discussion about corporate wellness is often one of initiatives: Generously sponsored walks, runs, conferences and attempts to increase awareness about a specific individual, who may also be the benefactor and namesake of a featured cause, or raise attention concerning a particular medical condition.

These efforts are noble in their intentions, prominent in their visibility, effective by their results and strong by virtue of their respective treasuries - an overflow of dollars directed towards the eradication of breast cancer or the fight against juvenile diabetes or the battle with rheumatoid arthritis, to cite just some of these campaigns.

For employees who participate in these events, and for those with an emotional investment in the success of these programs, I offer my congratulations. I would also like to make a contribution, in digital dollars, to add financial value to the promotion of personal health and corporate wellness.

Specifically, the use of Bitcoin, a virtual, peer-to-peer currency, can be the means for a revolution in how we underwrite, pay for and accept remuneration from all manner of forces involving health care, including insurance premiums and fee-based medicine to charitable donations and pharmaceutical research.


The Currency of Wellness: The Bitcoin Revolution for Health Care Reform

The Currency of Wellness: The Bitcoin Revolution for Health Care Reformhttps://www.corporatewellnessmagazine.com/article/bitcoin-revolution-for-health-care-reform

https://preview.redd.it/46q6xbku922b1.jpg?width=1000&format=pjpg&auto=webp&v=enabled&s=c18dba5d5df7e37f37a8a5edbf643c236027d00c

The discussion about corporate wellness is often one of initiatives: Generously sponsored walks, runs, conferences and attempts to increase awareness about a specific individual, who may also be the benefactor and namesake of a featured cause, or raise attention concerning a particular medical condition.

These efforts are noble in their intentions, prominent in their visibility, effective by their results and strong by virtue of their respective treasuries - an overflow of dollars directed towards the eradication of breast cancer or the fight against juvenile diabetes or the battle with rheumatoid arthritis, to cite just some of these campaigns.

For employees who participate in these events, and for those with an emotional investment in the success of these programs, I offer my congratulations. I would also like to make a contribution, in digital dollars, to add financial value to the promotion of personal health and corporate wellness.

Specifically, the use of Bitcoin, a virtual, peer-to-peer currency, can be the means for a revolution in how we underwrite, pay for and accept remuneration from all manner of forces involving health care, including insurance premiums and fee-based medicine to charitable donations and pharmaceutical research.


Crypto Philanthropy and Investments

Our new Philanthropy can also be carried out within the investment model. But unlike business as usual, our Kotlyar Foundation, the only charitable foundation in the world based solely on digital assets, does not have a primary goal of making a profit. Our main mission is selfless service to people, ensuring the public good and changing this world for the better.

But all sane philanthropists still earn money by legal methods, including:

- Tax deductions. This type of profit is more often received by business companies that donate funds to social needs. Individuals can also enjoy tax benefits.

- Investments, like shares, can also be donated by both companies and individuals. For investors, this is an attractive way to avoid capital gains taxes and receive a significant tax deduction.

- Example: (When Elon Musk reportedly saved over $4 billion in taxes by donating $5.7 billion in stock to an unnamed non-profit organization in 2022.)

- A non-profit organization will also never pay capital gains tax. She can take the shares and either sell them immediately and pay no taxes, or keep them, but she will never pay capital gains tax on the assessed value realized by the donor.

- Payment for work in the fund. Like regular institutions, charitable foundations require a staff of employees who receive an official salary.

- Production of goods and services by the charitable foundation. Foundations attract potential philanthropists by organizing events and lotteries, auctions, selling certain products, etc.

- Cultural events. At concerts and exhibitions with celebrity participation, people willingly respond to calls to donate money.

- Grants, donations and fundraising events. They come from governments, large companies and individuals. Charitable foundations apply for grants, listing what the money will be spent on.

- Donations are the most popular method of replenishing funds from governments, companies, rich and ordinary people or from long-term investments.

- Corporate sponsorship and partnership. This type of income primarily aims to help businesses gain brand exposure in exchange for providing income to nonprofits. As a result, the corporation wins the favor of society, and the non-profit organization receives the necessary income.

- Investments. Our foundation's charter states that we can make cost-effective and profitable investments in commercial projects and ventures.

- Now we are negotiating with states that are interested in improving and developing the banking sector and creating our digital banks based on blockchain technology and state guarantees. We have our own funds and cryptocurrency assets, various investment classifications. We can invest to increase long-term savings and strengthen our reserve funds.

We have a healthy and efficient philanthropic foundation that creates a diverse basket of income streams to fund its activities. Profiting from charity does not devalue the idea of donations. Our foundation has never stood and will never stand with an outstretched hand and a request for donations. On the contrary, legal methods of earning increase the popularity of all our charitable work and the activities of the foundation.

DONATE Crypto
DONATE Bitcoin
DONATE Cryptocurrency

https://reddit.com/link/13rsq8l/video/6fy29cl6h12b1/player


🚀🧑‍🚀 Astronaut Event Winners 🧑‍🚀🚀

Our space mission has ended, and now is the time to announce the Astronaut Event winners! 🧑‍🚀🚀

Congratulations to these lucky astronauts:

1st place - u/Deliarri - 10000 $HORA 💰💰💰
2nd place - u/UsefulAssociation923 - 5000 $HORA 💰💰
3rd place - u/Pepe_Loe - 3000 $HORA 💰

Next stop - Bitcoin Event no. 2! 🪙
See you there! 👋


Crypto is Gearing Up to Face its Biggest Test Yet

TL;DR Since its creation from the last financial crisis crypto faces its biggest test yet with a bleak economic outlook and US government debt ceiling negotiations. These two events could result in a massive liquidity crash as fiat is needed to pay everyday expenses. While the US is highly unlikely to default the damage is being done right now to the markets.

It is safe to say that markets across the board are stuck in a rut as House Speaker Kevin McCarthy and President Joe Biden continue to negotiate a deal to raise the debt limit. Since Bitcoin's inception, crypto has been pitched as an alternative monetary system free of third parties and has been highly successful. However, the economic conditions resulting from these debt ceiling negotiations are not only uncommon but are now reaching a point not seen in recent history.

The biggest issue I have seen crypto run into is something I think many of us should understand and not be surprised by. Crypto still lacks a lot of commonplace utility, especially in typical everyday roles. When you look at the basics like having to pay a credit card bill, utility bill, or mortgage payment there really is not an easy clear-cut way to do this. While different protocols and attempts have been made, you cannot open up your Chase Bank account and pay off your bill with crypto.

Due to this issue of economic uncertainty and people needing to be able to go to the grocery store for food any and all assets that people have are on the chopping block to be sold to raise the cash. The result is not only "speculative" investments like crypto being ditched for fiat but even the biggest names in the stock market facing increasing pressure this week.

Now do I think the US will default? It is extremely unlikely however damage is already being done right now. With each day that passes every interview by either side a deeper hole is being dug for the markets to try and claw their way out of.


22bet Review 2023: Scam Or Legit?

The Marikit Holdings Ltd Group has launched the sportsbook and casino platform 22Bet Casino. The online casino platform supports various languages, which include German, French, Portuguese, Greek, Mandarin, Japanese, and Hindi. to offer top-notch spread betting and casino gaming service to national and international players.

22bet Review 2023

What is 22Bet?

Since its launch in 2018, 22bet has experienced the fastest growth and has extended its online gaming services to every country. Over 3000 high-quality casino games are powered by dozens of software companies, including Betsoft, Big Time Gaming, Microgaming, and NetEnt. It is an excellent platform for online gambling that may wager on nearly any sporting event around the globe.

The online gambling platform has a straightforward registration process, a user-friendly interface, easy to use, and is attentive to the interests of its users.

Click the win your betting: What Is Online Cricket Satta?

Pros & Cons of 22Bet Platform

Pros

● Provides live casino gaming experience

● Multiple payment options are available.

● A wide variety of bonuses and promotions are available.

● 24/7 customer support

● Cryptocurrency friendly

● A good selection of currencies and languages supported

Cons

● Withdrawals may take loads of time

● The gambling platform seems to be slightly outdated.

Is 22BetLegit?

22Bet is a legit platform as it is officially registered with license number 144920. In addition, the bookmaker has a valid Curacao license with the JAZ/8048 prefix. Moreover, it follows the rules and regulations of the Curacao government and the UKGC.

Playing on this platform is completely safe and secure, as it follows the rules and regulations of both the Curacao government and the UKGC.

On top of that, playing on this online casino platform is completely safe and secure. It has implemented proper security measures, i.e., 128-bit SSL encryption technology, which is approved by ESET. Moreover, it guarantees to protect the data of all bettors from cyber scams or attacks.

Casino Games & Slots

The top software developers in the market are used to power a sizable selection of slots and casino games at22bet Review 2023. In addition, software providers like Microgaming, NetEnt, and Play NGO guarantee the high caliber of online gaming at 22Bet Casino.

Moreover, hundreds of slot machines are available on the gambling platform. You can choose games from Slots, Blackjack, Roulette, Video Poker, Baccarat, Bingo, Craps, Keno, etc.

You can sort games by date, preferences, popularity, and jackpots in the slot machines section. In addition, the platform includes a unique feature that lets you play two or four slot games simultaneously. The screen is divided into numerous sections so gamers can simultaneously play several slots. With this feature, players can increase their chances of winning.

Bonuses and Promotions

A large Welcome Bonus and 22 Bet Points, which can be used to buy Free Spins and goods at the 22Bet shop, are available to players who register at 22Bet.

A 100% match deposit bonus of up to ₹10,000 is offered as part of 22Bet Sports' welcome bonus. Thanks to the bonus, which will match 100% of your initial deposit up to ₹10,000, you will have twice as much money to play with.

In addition to deposit bonuses, you may also take advantage of ongoing promotions such as weekly rebates, leaderboard challenges, and birthday bonuses. From Monday through Sunday of each week, gamers will also receive up to 75 Free Spins on the Game of the Day. Keep in mind that all bonuses have requirements that must be met, such as minimum odds, wager amounts, etc.

How To Create An Account 22Bet Online

Creating an account at 22Bet Online is simple and easy. You follow the simple steps to create an account mentioned below:-

  • Visit the Official website and tap on the Registration Icon, which is placed on top of the homepage.
  • A registration window will display on your screen.
  • Fill out the application form by providing personal details like email, password, phone number, etc.
  • After filling out the personal details, click on the Register Button.
  • Once you have registered successfully, after making the first deposit, you can start playing casino games.
  • After your first deposit, a 100% welcome bonus will automatically transfer to your account.

22Bet Online Payment Methods

Gaming enthusiasts who wish to locate the most economical methods and want to settle their transactions in the shortest span of time. They can take benefit from this kind of flexibility. Moreover, the platform also accepts cryptocurrencies. At 22Bet, you can choose from a wide variety of options for withdrawing and depositing payments that are as follows:-

  • Paytm
  • Google Pay
  • PhonePe
  • UPI
  • Neteller
  • Skrill
  • MuchBetter
  • EcoPayz
  • Credit/Debit Card
  • Net Banking
  • Crypto-Friendly Platforms like Bitcoin, Ethereum, and Litecoin

Customer Support

22Bet online offers excellent customer service for the ease of customers. The best part is that the customer support team of 22Bet responds to queries promptly. Below are the customer support services offered by the gambling platform:-

  • 24/7 Live Chat Support
  • Available on Twitter and Telegram
  • Drop an email at support@22bet.com.sn
  • Send your query to Whats App +221 338200879
  • Please fill out the form on the online casino platform and submit it.

Conclusion

22Bet offers a diverse range of options for gaming enthusiasts. The 22Bet website is uncomplicated, spotless, and straightforward to use. Navigating the website is quite easy since consumers are not overrun with advertisements and promotions.

Customers' trust is important to 22Bet, and they are eager to respond to all customer queries. The website also offers a 24/7 live chat option for customer service and a detailed FAQ page.