(13,025.81 $) Der aktuelle Bitcoin-Kurs live: BTC in USD ...

Your Pre Market Brief for 08/27/2020

Your Pre Market Brief for Thursday August 27th 2020

You can subscribe to the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily 4:00 AM Pre Market Brief in this sub.
Morning Research and Trading Prep Tool Kit
The Ultimate Quick Resource For the Amateur Trader.
Published 3:00 AM EST / Updated as of 3:30 AM EST
Stock Futures:
Wednesday 08/25/2020 News and Markets Recap:
Thursday August 27th 2020 Economic Calendar (All times are Eastern)


Overnight News Heading into Thursday August 27th 2020
(News Yet to be Traded 8:00 PM - 4:00 AM EST)
End of Day and After Hours News Heading into Thursday August 27th 2020
(News Traded 4:00 PM - 8:00 PM EST)
Offering News
Note: Seeking A url's and Reddit do not get along.
Upcoming Earnings:
Morning Research and Trading Prep Tool Kit
Other Useful Resources:
The Ultimate Quick Resource For the Amateur Trader.
Subscribe to This Brief and the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily brief in this sub
It is up to you to judge the accuracy and veracity of the above before trading. I take no responsibility for the accuracy of the information in this thread.
submitted by Cicero1982 to pennystocks [link] [comments]

04-28 13:15 - 'China Launches Blockchain-based Service Work (BSN) to Rule the World 中國推出區塊鏈,圖征服全球? By Chapman Chen, HKBNews' (self.Bitcoin) by /u/HKBNews removed from /r/Bitcoin within 17-27min



3 days ago, China launched Blockchain-based Service Network (BSN), which, coupled with the digital Yuan, a pilot version of which was launched in mid-April, will accomplish what Huawei has failed to do -- to infiltrate, monitor and control the entire world in all human activities, e.g. finance, technology, health, insurance, entertainment, social media, voting. The only antidote is worldwide adoption of truly decentralized and uncensored blockchains and Bitcoin.

BSN Covers 6 Continents!

On April 25th, the Chinese authorities announced the launching of Blockchain-based Service Network (BSN), aka ChinaChain. It is a cross-cloud, cross-portal, cross-underlying-framework, global infrastructure network jointly initiated and set up by State Information Center (SIC), state-owned firms China UnionPay, China Mobile and Red Date for deploying and operating various kinds of blockchain applications (1). IOST is the first overseas blockchain network to be taken on board of BSN (2). Now there are already 128 city nodes across the country, and 8 BSN portals including 7 respectively located in California, Johannesburg, Paris, Tokyo, Sydney, Singapore, and San Paulo. It is going to be applied in all trades, e.g., technology, finance, banking, health, insurance, social media, entertainment, issuing of passports, land registries, tax collection, law, voting.

BSN is even more Invasive than Huawei

Let's face it:- we are headed for a global digital economy. As neither the USA not Europe has yet established such an enormous blockchain infrastructure consortium, China will enjoy the first mover's advantage in the space. While Huawei has been rejected by America and many Western countries for security reasons, BSN is now an even more powerful plan to infiltrate and control the entire world in practically all domains.

Virus Implanted?

According to Bloomberg (April 15), China's Central Bank has just launched a pilot digital Yuan in 4 cities, using blockchain, the technology behind Bitcoin. For instance, in Xiang-cheng, Suzhou, all employees will have to download a state-controlled digital wallet by May and all wages will be paid in digital Yuan from then on. Every penny spent by you will be scrutinized and censored by the CCP. And a spyware may be implanted in the digital Yuan wallet and/or ledger so that anybody, not just Chinese but also Westerners, who transact in digital RMB, will be affected and subject to surveillance by the CCP. Now, with BSN, this will not be limited to transactions in digital RMB. Instead, it will be extended to all sectors, all fields, all human activities all over the world.

Rejection of Libra + Blockchain Advocacy + Covid19

On October 24, Facebook's proposal to launch the cryptocurrency Libra was rejected by the U.S. Congress. On October 25, Chairman Xi Jinping announced that China will go all-in on blockchain. On November 17, 2019, a China-man from Hubei, carrying the covid19 virus, began to spread it across the globe, according to South China Morning Post. Bitboy Crypto on April 28, 2020 wonders whether all these are just coincidental, or they constitute a conspiracy on the part of China to beat the free world financially, technologically, and biologically (3).

What is Blockchain?

Blockchain, the technology underlying Bitcoin, is an electronic ledger distributed across and managed by peer-to-peer networks. It can exist without a centralized authority or server managing it, and its data quality can be maintained by database replication and computational trust.

The First Blockchain

The first work on a cryptographically secured chain of blocks was described in 1991 by Stuart Haber and W. Scott Stornetta. The first blockchain was conceptualized by a person (or group of people) known as Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency Bitcoin.

A Mutated Blockchain

The information stored in a normal blockchain is immutable. But the Chinese government favors a unique blockchain called EOS, wherein all transactions and governance decisions are processed and approved by only 21 main nodes known as supernodes, rather than numerous nodes distributed all over the world. Twelve of the EOS supernodes are in China. This makes it easier for the CCP to control blockchains, since the penalty of noncompliance with Chinese regulations is high for China-based supernodes.

The Only Antidote

"Tomorrow is now" (Eleanor Roosevelt 1962) . The decentralized, permissionless, and disinflationary Bitcoin is now the only thing in the world that can counteract the digital RMB, and urgent, extensive adoption of uncensored blockchain networks is the only solution to BSN hegemony.

Fb link: [[link]7

Web link: [[link]8

  1. Terry Wang, IOST CTO, delivered a speech on blockchain to state leaders of China at the Great Hall of the People in December 2019. ([[link]10 )
  2. [[link]11
Disclaimer: This article is neither an advertisement nor professional financial advice.
China Launches Blockchain-based Service Work (BSN) to Rule the World 中國推出區塊鏈,圖征服全球? By Chapman Chen, HKBNews
Go1dfish undelete link
unreddit undelete link
Author: HKBNews
1: ww**facebook.com/h*ngkon*bil*ngu*lnews*p**t*/94*376245**0140*__xts__%5B0%**=68.*RAL*elagqu*qRl*biXCPZjOvd*FcQV**1Z27*O*IFt*3W*0**SC*ax*m1nQj*FKE_HdlLlKHn*VvRb*jo5qUsEw2xwmQ*H*3NPFBQ9**n***Hl*x*8**dX*TNlPEp*lHv*6k*-bt*0a**H***Ko*Zd20*9**j*uChT**L2AEH**B_Rl0*Rr*gG6F*b**z*b**x*g*5TmN*1IuIli*hTLOD**1hf*-Hae*MroDpv*DTGSsP_U**Z*-yMkK*EIoy5o**6*CW*NtI**vZkF3X*Ie*LN6DhhP*pb*DbHuMW*gcP4sIwYtzM*gMs*q*IweC3*oXL*7*ohCm0yfGQ*IM&**p*__tn**=KH-R 2: w*w.hkbn*ws.*et/po**/chi***launch*s-*lockchai**b***d-se*vic*-work-bsn-**-rule-the-wor*d-*E4%B*%AD%E5%9C*8B%E6%*E**8%E*%8**BA*E5%8D**0**5%A1%*A%**%8F%88%E*%BC%**%E5%9*%96%E5%BE%*1%E*%9**8D%E****%A*%*7%*0%83***%*C%*Fby-chapman-chen 3: w**.c***nne*s.com/zh-ha*t/**ti*les/12962**27608*htm 4: medi*m**o*/io*t/ios*-**o-*er*y-wa*g-prese**s-to-s*at**lead*rs-m*yo*s*and-ceos-in-ch*nas**rea*-hal*-of-*he-p*opl*-5*e885e*1*91 5: www.youtube**om/**tch?*=1*m**Q*LMqc 6: pr***ew.*ed**i**e3frgp871k*41.*pg?wid*h=**7*amp;format=pj*g&auto=webp*a*p;s=*2e3***df*c*d9***129c5*3fb46fd0f2046***f 7: w**.f**eb*ok*com*h**gkong*ilingualnew*/p*sts/*4937*2455001*0*\_\**n\_\_=-R**^1 8: **w.hkbnews.net*post/*hina-*au*ch**-****kc*a*n**ased-service**o*k-b**-t*-ru*e-the*world-%E*%B8*AD%E5%9C%8B%*6%8*%A*%E5%87*B*%E5%8*%8**E5%A1%8A*E9%8**88%E**BC%8C%E5%**%96**5**E*8*%**%9*%8D%E5%85%A8*E***0%83%EF%BC%*Fby-*hapma*-*hen]^^2 9: www.chai*news.com/zh-hant/*rt*c**s**29*2**2*60*.htm]^** 10: mediu*.co**io*t/io**-cto-te**y*w*ng-pre*e*ts-to-st*te-leader*-may*rs*and-**os-*n-ch*nas-*r*a**hall**f-***-people-5f*885ea1691*^^* 11: ww***o*tube.com/**t*h?v=18m*hQ*LMq*]^^5
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Thunder and Sunshine | Monthly Portfolio Update - July 2019

If it not be now, yet it will come. The readiness is all. -Shakespeare, Hamlet, Act V, Scene ii
This is my thirty-second portfolio update. I complete this update monthly to check my progress against my goals.
Portfolio goals
My objectives are to reach a portfolio of:
Both of these are based on an expected average real return of 4.19%, or a nominal return of 7.19%, and are expressed in 2018 dollars.
Portfolio summary
Vanguard Lifestrategy High Growth Fund – $769 050 Vanguard Lifestrategy Growth Fund – $43 826 Vanguard Lifestrategy Balanced Fund – $79 826 Vanguard Diversified Bonds Fund – $108 036 Vanguard Australian Shares ETF (VAS) – $90 076 Vanguard International Shares ETF (VGS) – $20 250 Betashares Australia 200 ETF (A200) – $265 413 Telstra shares (TLS) – $2 116 Insurance Australia Group shares (IAG) – $15 051 NIB Holdings shares (NHF) – $9 588 Gold ETF (GOLD.ASX) – $95 251 Secured physical gold – $15 309 Ratesetter (P2P lending) – $21 070 Bitcoin – $157 290 Raiz app (Aggressive portfolio) – $16 358 Spaceship Voyager app (Index portfolio) – $2 092 BrickX (P2P rental real estate) – $4 388 Total value: $1 714 990 (-$1 713)
Asset allocation
Australian shares – 40.6% (4.4% under) Global shares – 22.6% Emerging markets shares – 2.5% International small companies – 3.2% Total international shares – 28.2% (1.8% under) Total shares – 68.9% (6.1% under) Total property securities – 0.3% (0.3% over) Australian bonds – 5.1% International bonds – 10.1% Total bonds – 15.2% (0.2% over) Gold – 6.4% Bitcoin – 9.2% Gold and alternatives – 15.6% (5.6% over)
Presented visually, below is a high-level view of the current asset allocation of the portfolio.
The portfolio experienced a small decline this month, with a decrease of $1 700. This slight downward movement comes after six months of continuous increases in the value of the portfolio.
The fall also comes at a time in which some significant new investments were made, masking the size of the fall somewhat. A substantial likely contributor to the decline, however, is the natural impact of distributions being paid from shares, as well as ETFs and retail index funds.
In short, around $30 000 of distributions were paid out across July, decreasing the value of portfolio securities by around the same amount. Not all of these distributions have been re-invested, creating a temporary illusion that this value has been removed. A comparable effect led to a similar reduction in July 2017.
Generally movements this month within the portfolio have been relatively limited. One of the larger movements has been an increase in Australian and international shares, with Australian share markets just reaching post Global Financial Crisis highs.
A fall in the price of Bitcoin, and a smaller countervailing increase in the value of gold holdings has provided a live example of some of the issues in my last post on the potential value of non-correlated alternatives. Having said this, the fall in the price of Bitcoin is the major factor in this months downward movement. Evidently following some real estate revaluations, my BrickX holdings have also decreased in value by nearly 6 per cent since the last month. This most recent research into the actual realised returns from real estate investing suggests I should not be surprised, and usefully highlight the specific risks facing individual property investments.
This month has also seen my first investment of July distributions. These were placed in Vanguard international shares ETF (VGS). The remainder of the distributions will be placed into either into VGS, or Australian shares (A200 or VAS) over the next four months, on a dollar cost averaging approach alongside new contributions.
Reviewing of insurance needs and adjustments
Following distributions last month I have also re-examined my insurance requirements, taking into account updated portfolio values, existing savings, insurance through superannuation, and future financial obligations. This has led me to continue to reduce both my life insurance sum insured (from $315 000 to $150 000) and my income protection insurance (from $3000 to $1000 per month).
I have taken a conservative approach, and based the adjusted coverage on the goals of providing of sufficient income, at an assumed safe withdrawal rate of 3.75 per cent, to still meet my Objective #2.
In other words the target has been offering full income replacement from all assets and insurance of at least $83 000 in perpetuity. Still, this adjustment has led to a substantial savings - nearly $1 000 per annum. An alternative way to think about this is that I have lowered my ongoing expenses by just under $20 per week, reducing the final portfolio sum required to support this cost by around $28 000.
Progress against the objectives, and the additional measures I have reached is set out below.
Measure Portfolio All Assets Objective #1 – $1 598 000 (or $67 000 pa) 107.3% 145.3% Objective #2 – $1 980 000 (or $83 000 pa) 86.6% 117.3% Credit card purchases - $73 000 pa 98.5% 133.3% Total expenses - $96 000pa 74.9% 101.4%
The steady reinvestment of July distributions should give a small upward push to monthly results through to December. This is tempered by an effect of the growth in the overall size of the portfolio, and its exposure to equities.
As a simple example - a daily movement in equities of 0.5 per cent at the beginning of the journey meant a loss or gain of just over $3 000 in a day. The same movement now with the current portfolio would mean a gain or loss of nearly $6 000.
This makes the path less clear - as new contributions can more easily be swallowed into a daily market movement. The portfolio value effect has generally been - to borrow a phrase - a little akin to watching the movement of a yo-yo being used by someone walking up or down some stairs. Psychologically, it detaches effort from reward in a way that still feels relatively new in this journey.
An interesting post to think about in this context, is this from Collaborative Fund, which shows the sharp, volatile multi-year paths equities can take to reach a single destination. Usefully, it also points out the futility of many 'fine adjustments' to sectoral exposure, and unnecessary complexity in portfolio construction.
A further truth illustrated by the data in the piece is that general consumer sentiment, and economic growth, do not align with stock returns in any systematic way. In short, buying or selling shares because of a view that the economy or consumer confidence is strengthening, or weakening, is a futile guesswork, which has no historical basis in the past behaviour of returns.
These findings and new realities are reminders that taking the actions that support forward progress and continued regular investments are the immediate focus. This matters more than whether the portfolio sits above or below an arbitrary number on any given day. Planning and readiness for that day is the priority.
The post, source citations and full charts can be viewed here.
submitted by thefiexpl to fiaustralia [link] [comments]

03-02 20:43 - 'r/Bitcoin recap - February 2019' (self.Bitcoin) by /u/SamWouters removed from /r/Bitcoin within 1840-1850min

Hi Bitcoiners!
I’m back with the 26th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
A recap of Bitcoin in February 2019
Adoption * [bitcoin can now be used to fund your public transport card in 37 cities in Argentina]1 (7 Feb) * [There are as many transactions today as in January 2018 but with all time low fees]2 (7 Feb) * [Bitcoin’s Lightning Network currently has 6000 nodes and $2.4M in capacity]3 (9 Feb) * [A service that lets you buy Domino’s Pizza via the Lightning Network in the US]4 (13 Feb) * [Bitcoin’s average block size is now 1.3MB]5 (14 Feb) * [An Argentinian company settles export deal with a client in Paraguay using bitcoin]6 (15 Feb) * [The Lightning Network reaches 700 btc in capacity]7 (16 Feb) * [A butchery in Kenya accepting bitcoin]8 (17 Feb) * [The ₿ symbol is now a listed currency when you long press the $ sign on a mobile keyboard]9 (19 Feb) * [A Lightning developer’s node is routing more than $10k per month for a 0.25% fee]10 (19 Feb) * [Jack Dorsey, CEO of Twitter and Square, promotes bitcoin tipping on Twitter]11 (20 Feb) * [bitcoin transactions near an all-time high of 3.87 transactions per second]12 (21 Feb) * [Finanzen.net, a german finance site, starts lising the EUBTC exchange rate]13 (21 Feb) * [20% of Localbitcoins 4.8M visits come from Venezuela]14 (26 Feb) * [$52M of bitcoin bought on Cash app in Q4 2018]15 (27 Feb)
Development * [The Casa node has been open-sourced]16 (1 Feb) * [A specification for trustless non-pegged sidechains]17 (4 Feb) * [Blockstream creates a new Multisignature standard]18 (18 Feb) * [BTCPay Server now has payment requests]19 (26 Feb)
Security * [A discussion on traditional mixers vs Wasabi wallet]20 (2 Feb) * [Another Electrum wallet phishing attempt]21 (4 Feb) * [Someone gets scammed for $50 worth in bitcoin by a QR code switch]22 (19 Feb) * [Coinomi wallet sends your plain text seed phrase to Google’s remote spellchecker API]23 (27 Feb)
Business * [Kraken exchange CEO on the QuadrigaCX coins]24 (3 Feb) * [People discuss the bitcoins held by bankrupt QuadrigaCX]25 (4 Feb) * [TD Ameritrade is advertising how to invest in Bitcoin on YouTube]26 (10 Feb) * [Lightning integration will eventually come to Square’s Cash app according to its CEO]27 (11 Feb) * [Samsung’s Galaxy S10 will have secure storage for private keys built in]28 (20 Feb) * [A 21-year old couple is working on a hardware wallet]29 (23 Feb)
Research * [Bitcoin’s wealth distribution across addresses increased over the past 2 years]30 (13 Feb)
Education * [Bitcoin’s prehistory]31 (2 Feb) * [People discuss the best real-time bitcoin news feeds]32 (8 Feb) * [Someone discusses their small bitcoin mining operation]33 (9 Feb) * [A new report on financial privacy from Coin Center]34 (11 Feb) * [Andreas Antonopoulos on splicing]35 (25 Feb)
Regulation & Politics * [The SEC thinks some cryptocurrency will match their ETF requirements eventually]36 (7 Feb) * [Government-mandated asset seizure will be limited in the U.S.]37 (23 Feb)
Archeology (Financial Incumbents) * [The British pound is the oldest fiat currency at 317 years and now worth 0.5% of its original value]38 (4 Feb) * [JPMorgan Chase incorrectly analyses that bitcoin miners operate at a 16% loss]39 (12 Feb) * [JPMorgan Chase launches its own centralized JPM stablecoin]40 (14 Feb) * [The IMF comes up with a plan to devalue cash and introduce negative intrest rates]41 (17 Feb) * [Venmo’s KYC when someone paid back a sandwich is a great reminder why we need bitcoin]42 (20 Feb)
Price & Trading * [Bitcoin passes $4k for the first time in a while]43 (19 Feb)
Fun & Other * [A discussion on former Bitcoin developer Mike Hearn]44 (1 Feb) * [Twitter CEO Jack Dorsey says he thinks the currency of the Internet will be bitcoin]45 (2 Feb) * [Twitter and Square CEO Jack Dorsey passes on the Lightning Torch]46 (5 Feb) * [Some instructions on how to send letters using a computer if you think sending bitcoin is difficult]47 (6 Feb) * [Why Bitcoin should succeed]48 (7 Feb) * [Other technologies that died just like Bitcoin]49 (8 Feb) * [Elon Musks compliments cryptocurrency for value transfers]50 (20 Feb) * [Elon Musk says whoever owns the early btc deserves a Nobel prize in delayed gratification]51 (21 Feb) * [A Lightning-powered chicken feeder]52 (22 Feb) * [A Malaysian bookstore with Bitcoin and Blockchain books on top of the finance section]53 (28 Feb)
Bitcoin recap - February 2019
Go1dfish undelete link
unreddit undelete link
Author: SamWouters
1: *ww*r**di*.com/***i*coin*comme*t*/ao4ojn/arg*n*ina*bitc**n_now_a*cepte*_fo*_pub*ic/ 2: www.r*ddit.com/Bi**oi*/c*mments/a*1*si**h**number*of*trans*c*io***to***_are*as_high_as/ 3: w*w.reddit.**m*r*Bitcoin/co*me*ts/aow**w/bitcoi*s_lightn*n*_net**rk_h*s**i***_new_r*cord* 4: *ww.reddit.com/*/*i*c*in/*omme**s/***gux/y**_*an_now_buy_*omi*os*pizza*via*th*_light*i*g/ 5: *ww**edd*t.com*B*t**in/comm**ts/aqj***/bitc*i*_b*ocks_just_h**_*n_a*ltim*_high_o*_a_13m*/ 6: www.r*ddi*.com*Bitc*in/co*ment*/a*zqns/arge*tina***t*le**exp*rt_**al_wi*h*pa*agua*_*s*ng/ 7: *ww.red*it.*o*/B**c**n/comm*nts*ar78r3/ligh*ning_ne*wo*k*has_*e**hed_*0*_btc*tot*l/ 8: www*re**i*.com/*i*c*in/*omments/arjak9/adop***n_*n_ken*** 9: www.*ed*it.c*m*Bit*o*n*c*mments/asn*hq/*oogl*_introdu*e*_b*tcoi*_*ym**l*o*_ios_*eyboar*s* 10: *w*.r*ddi*.com*Bitc*in/*omm*nts/a*c*0o/im_p*easan*ly*sur*ri**d_that_*her**is*n*w*so_mu*h/ 11: ww*.redd**.co*/***itc**n/****ents/asqi6y/jac*_promotes_bitcoi*_t*ppi** 12: w***r*d*i*.com/r*Bi*c*i*/comments/a**i*v/bitc**n_transac*io*s_h**_387_tx*_p*r_second/ 13: ww*.r*d*it.c*m/Bitcoin/c*m*en**/at39g3/fi*anz*nn**_*_big_*erm*n_***a*ce_*ite*sta*ted/ 14: www.reddit.*o*/*/Bit*o***c*mmen**/av2xd0/localbitco*nscom_ha*_2**of**t*_4*2_**llion**is*ts/ 15: w*w.reddit*c*m/*/Bitc*in/com*ents/avii2q/52*m*l*ion_*f*bi*c*i*_**ug**_on_**sh_ap*_*n_q4/ 16: *w**reddit*com/r**itc**n/*om*ents/alvv**/the_c*sa_hodl**ode_h*s_bee*_open_so**ce*/ 17: **w.reddit*com**/Bit*o*n/c**men*s/an*o*i**pe*s_for**ew_trustles*_*o**egged_si*echains/ 18: www.red**t.*om*B*t**i*/comments/as0*x9*b*o*k*tream_musig_a**ew_mult*sig*atur*_**a*da*d/ 19: **w.*eddi*.com/Bitcoin/***me*ts/a*0c2b/int**ducin*_btc*ay*serv**_pa*m**t_requ**t_i*voic*/ 20: www*redd*t.com/*i*coin/comme*t**am*i*9**radi*i*n*l_m*xe*s_v*_wasabi**allet/ 21: ww*.*eddit.*om/r*B*t**in/c*mmen*s/an2khh*is_th*s_*_*hish*n*_at*empt*el***rumorg_*oe*_not/ 22: w*w*red*it.co*/*it*oin/commen**/as6*vw/im*d*mb_d*nt_g***sc*mmed*like_*e/ 23: w*w.r*d*it.c**/Bitc***/co*ments/av*87*/securit*_vuln*rabil*t*_c*inomi_w*ll*t_s*n**_y*u 24: w*w.re*di*.co*/*it*oin**omment*/am**4*/jespow_we_hav*_t*ousan*s_**_wal*et_a*dre*s**/ 25: ww***eddi**com/B*tcoin*c*mme**s*an*17*/bitc**n_investor*_m*y**e_*ut_190_mill*on_aft* 26: www.reddit.com/**tcoin/*om***ts**p3e*k/td_***ri**a**_116*6bn_in_*sse**_adv*rti*ing_how/ 27: **w.reddi*.co*/r***t*oin*com**n*s/aphq4c****k_dor*ey_lightnin*_com**g*to_square_cash_*pp/ 28: ww*.reddi*.co*/*itcoi*/*omments/astc**/*a*axy_*1*_*ec**e_s*o*a**_*acked_by_*a*dware/ 29: www.r**di***om*Bi*coin/comment*/atswh0/as**_**uple*of_21_year_ol**_w*o_dr**med_*f_u*i*g* 30: **w.reddit.c*m/Bitc*in/com*en*s/aq6*q*/99_*f**ll***tc*in_ow**d_b*_86_*f_wallets_*hi*_*s/ 31: www.r*ddit.com/r****coin/com*en*s*am*c0**bi**oin_pre*isto*y/ 32: www.*e*d**.co***itcoin/c*mment*/aoh*ss/b*s*_free*real*i*e_ne*s*an*_a*alyt**s_platf*rm/ 33: *ww****dit*co*/*itc*in/co*ments/a*xg9e/m*_smal*_bitcoin_mini*g*ope*ation*u**at*/ 34: *ww.**ddit.com*Bi*coi*/c**ments/apjk*1*we*m*st_prote*t_ou*_ability_**_*ransac*_p*i**t*ly* 35: www.r*dd***c*m/Bitcoi*/com*ents*a*fd*7*splicing_is_p*o*abl**on**of**he_most_po*e*ful_a**/ 36: **w.reddit.com*Bitcoin/commen*s*ao*e*s/bitcoin_e*f**s_in**itable_**y*_s**_c*m*iss*one** 37: www*reddit*c*m**itco*n*commen*s/a*yl*9*loc*l*sta*e**ederal**ove*nments_*a*_no_long* 38: www.r**di**c*m/*/B*t*oi*/*om**nts/an37k6/the_british_po*nd_i***he_oldest_**at*c*r*e*cy_in/ 39: www.***dit.c**/Bi*co**/c*m**nt**a*mns*/pro*ucing_a_sin*l*_bit*o*n_now_c*sts_*060_on/ 40: *ww.red**t.**m/B*tcoin/**mment*/aqjtq*/after*cr*t**izing_bitcoin_f*r*years***_*org*n* 41: www.re*dit.*o*/****oi**commen*s/ar*vj*/i*f*comes_up_wi*h_pl*n_to_d*value**hys*cal_*ash* 42: w*w*re**it*com/Bit*oin/c*mmen*s*a**x*b/*y_fri*nd**ought_me_a_s*n*wi*h_at_a_sta**_and_i* 43: **w*re*di*.*o*/r**itcoin/co*ments/a*a*h5/bitc*in*at_4000/ 44: ww*.redd*t.com/Bi*c*i**comm*nts/am0*7r*1_did_yo**kn*w_be**een*201*_*n*_*013_fo*me*_*ike/ 45: ww*.reddi*.com/Bitcoin/com*ents/a*ep*e/t*it*er**eo_t*_joe_ro**n*i_*h*n*_*urre**y_*f_*he* 46: www.*eddi*.*om/*/*it*o*n/*omme*ts/a*irt9**ack_twitt*rsqu*re_ceo_*ust_took_*h*_lnt*u*****in/ 47: www.*eddit.com/r*Bi*coin*co*m*nts/a*pk9s*if_*ou_**in*_usi*g**itcoin_*s*di*ficult*here*a*e* 48: *ww.re**it.*om/r*Bit*oin/**m**n*s/ao5j*e/old_bu*_good_wh*_b*tco*n_*h**ld_*ucceed/ 49: www*r**dit.co***it**in/comments/*o*28e/j*st*rem*mb*r_that_b*t*oin_d**d/ 50: www.**ddit.com/r*Bitc*i*/c*mm*nts**s*o*0/el**_musk_*all**bitcoin*brilli***_bett**_than/ 51: www*redd*t.com*B*tcoin/c**ment*/a**j*5*elon_musk*whoever_owns**he_*arl***tc_deserv****/ 52: *ww*reddit.**m*Bit*o**/c*mments*at*mdd/th*_new_*itcoin_*illerap*_*_*ightning_*o*e**d* 53: www.red*it*c*m/r*Bitcoin/c*mments/a*t*0*/malay*ian_b**k*to*e**ith_*itc***_a*d_c**pto*books/
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

US Futures, Global Markets Slide, Spooked By Trump Trade Comments

US index futures and European shares slumped on Tuesday in a volatile, illiquid session punctuated by some headline confusion, while gains in Asian equities were limited after President Donald Trump said he still intends to go ahead with raising tariffs on China imports from 10% to 25% and that it was highly unlikely he would accept China’s request to refrain from the increase, just days before meeting with his counterpart Xi Jinping.

While ES losses were modest, it is worth noting that earlier in the session, S&P futures swung sharply, gaining as much as 0.5%, then falling back into negative territory, after algos misinterpreted comments from China foreign ministry spokesman Geng Shuang. As we reported earlier, during a media briefing Geng first said that Presidents Trump and Xi agreed to reach mutually beneficial agreements, sparking a vicious rally in futures. Just moments later, however, futures erased gains when Geng later said he was referring to a phone call on Nov. 1. The result was the following:

Following these fireworks, contracts on the Dow, S&P and Nasdaq pointed to a drop at the opening, while Treasuries and the dollar held steady before the Fed’s top two officials were set to speak in the next 48 hours.
European equities gave up initial gains and posted small losses as basic resources and travel names underperformed, with the Stoxx Europe 600 Index edging modestly lower (-0.1%), led by raw materials producers, while bonds rose across Europe and the euro currency edged lower. The pound weakened as traders mulled prospects for parliamentary approval of the Brexit deal, which Trump said could jeopardize Britain’s ability to strike a trade pact with the U.S.
Earlier in the session, Asian markets were mostly positive as the region took impetus from the performance on Wall St, where all majors finished with firm gains on return from the Thanksgiving weekend and with retailers buoyed on the back of Black Friday and Cyber Monday sales. ASX 200 (+1.0%) and Nikkei 225 (+0.6%) were lifted from the open with Australia led higher by tech and financials, while a pullback in USD/JPY limited the upside for the Japanese benchmark. Elsewhere, Hang Seng (-0.2%) and Shanghai
Comp. (+0.1%) were mixed with China somewhat dampened by Trump’s hardball tactics ahead of the meeting with Chinese President Xi at this week’s G20, in which he suggested an intention to proceed with raising tariffs on China imports from 10% to 25% and also warned to place tariffs on the remaining USD 267bln of Chinese imports if they fail to reach a favourable outcome for the US. Furthermore, a slowdown of Chinese Industrial Profit growth and concerns in the Hong Kong property sector also contributed the cautiousness in Chinese markets.
In addition to today's 8:30am ET comments from Fed vice chair Clarida, trade remains firmly in investors’ minds before leaders of the two biggest economies meet in Buenos Aires at the end of the week. Trump's comments that it is likely the US will slap tariffs on the remaining Chinese imports and raise tariffs on existing tariffed products have weighed on optimism for U.S. stocks, which climbed on Monday amid hopes a strong start to the holiday season thanks to record online sales will keep growth on track.
Meanwhile, Fed speakers will be closely watched for any indications of a change in Fed thinking over continued rate hikes. Today Fed vice chair's New York speech at 8:30am will be the main attraction, while Chair Powell’s speech on Wednesday will be parsed for any hints on prospects for a pause in rate increases next year after traders reduced expectations for the pace of monetary policy tightening.
Elsewhere, emerging market currencies weakened and their shares traded little changed. Bitcoin steadied near $3,700 after plunging 14 percent Monday.
In overnight political news, US Special Counsel Mueller's office said former Trump campaign manager Manafort lied to FBI and Special Counsel in violation of plea agreement.
In commodities, Brent (+0.2%) and WTI (Unch) are nursing initial losses as focus starts turning to the G20 summit over the weekend where markets may get initial hints of what to expect at the Dec 6th OPEC meeting in Vienna. The Saudi Crown Prince, Russian President and US President are to meet, possibly on the side-lines to decide the future of the global oil market. Talk around the market notes that Prince Mohammed Bin Salman may not able to defy US President Trump’s aim for lower oil prices after the White House stood behind the prince in regard to the killing of journalist Khashoggi. Nonetheless, traders will be watching the summit closely, while in the nearer-term, today will see the release of the weekly API where forecasts see headline crude stockpiles printing a drawdown of 0.6mln barrels.
Gold is trading relatively flat as the dollar holds steady following comments from Trump that overnight that he still intends to raise Chinese import tariffs to 25%; these comments come ahead of this week’s G20 summit. Additionally, US-China trade pessimism has caused copper prices to fall for the 3rd consecutive session due to demand concerns. Iron ore futures have dropped to their lowest level in over 4 months, dropping by 5% over concerns that steel prices are to remain pressured by slower demand.
Expected data include Conference Board Consumer Confidence. Bank of Nova Scotia, Couche-Tard, and Salesforce are among companies reporting earnings.
Market Snapshot
Top Overnight News from Bloomberg
Asian equity markets were mostly positive as the region took impetus from the performance on Wall St, where all majors finished with firm gains on return from the Thanksgiving weekend and with retailers buoyed on the back of Black Friday and Cyber Monday sales. ASX 200 (+1.0%) and Nikkei 225 (+0.6%) were lifted from the open with Australia led higher by tech and financials, while a pullback in USD/JPY limited the upside for the Japanese benchmark. Elsewhere, Hang Seng (-0.2%) and Shanghai Comp. (+0.1%) were mixed with China somewhat dampened by Trump’s hardball tactics ahead of the meeting with Chinese President Xi at this week’s G20, in which he suggested an intention to proceed with raising tariffs on China imports from 10% to 25% and also warned to place tariffs on the remaining USD 267bln of Chinese imports if they fail to reach a favourable outcome for the US. Furthermore, a slowdown of Chinese Industrial Profit growth and concerns in the Hong Kong property sector also contributed the cautiousness in Chinese markets. Finally, 10yr JGBs were uneventful as prices took a breather from its extended but gradual uptrend and with today’s 40yr auction largely ignored despite increases in the b/c and accepted prices.
Top Asian News - Hong Kong’s Home Market Suffering Worst Declines Since 2016 - Day Two Rebound in Asia Stocks Closes an Eye on Trade Rhetoric - Genting Malaysia Says Fox World Lawsuit Won’t Impact Operations
European cash indices gave up initial gains (Eurostoxx 50 -0.1%) following a relatively flat open after pre-market gains in index futures were short-lived. Equity futures staged a pre-cash open rally after it was reported that a Chinese Foreign Ministry spokesman was quoted as stating that US President Xi and US President Trump had agreed to mutually beneficial agreements. However gains in futures markets were pared after it was later reported that this was in reference to a November 1st phone call and thus was viewed as stale by the market, particularly considering the hardball interview by Trump in the WSJ yesterday ahead of this week’s G20 summit. On an index basis, the SMI lags its peers (-0.5%) with Credit Suisse (-1.7%) lower following a broker
downgrade at Credit Suisse. In terms of sector specifics, performance is relatively mixed with slight underperformance in material names in-fitting with recent price action in the complex. To the upside, utility names modestly outperform, albeit the moves thus far across the board are relatively small in terms of magnitude. Individual movers this morning include Dialog Semiconductor (-1.4%) amid Apple-inspired losses (post-Trump threat of potential tariffs on iPhones and laptops), Apple share are down 1.7% pre-market. Elsewhere, Rexel (+1.9%) are firmer following a broker upgrade at Credit Suisse, Thomas Cook (-24.5%) shares are notably underperforming following a disappointing trading update, dragging Tui (-4.2%) lower in sympathy.
Top European News
In FX, the DXY was overall bid vs G10 counterparts with the aid of the GBP weakness due to the latest Brexit developments. Moreover, Citi’s rebalancing model points to modest USD buying vs. peers going into month end, while Nordea also notes tomorrow’s HIA which is the cut-off date if companies wish to convert foreign currency into USD along with SOMA that happens to fall on Friday as well. The index is currently hovering above 97.000 within a narrow range around the big figure.
In commodities, brent (+0.2%) and WTI (Unch) are nursing initial losses as focus starts turning to the G20 summit over the weekend where markets may get initial hints of what to expect at the Dec 6th OPEC meeting in Vienna. The Saudi Crown Prince, Russian President and US President are to meet, possibly on the side-lines to decide the future of the global oil market. Talk around the market notes that Prince Mohammed Bin Salman may not able to defy US President Trump’s aim for lower oil prices after the White House stood behind the prince in regard to the killing of journalist Khashoggi. Nonetheless, traders will be watching the summit closely, while in the nearer-term, today will see the release of the weekly API where forecasts see headline crude stockpiles printing a drawdown of 0.6mln barrels. Gold is trading relatively flat as the dollar holds steady following comments from Trump that overnight that he still intends to raise Chinese import tariffs to 25%; these comments come ahead of this week’s G20 summit. Additionally, US-China trade pessimism has caused copper prices to fall for the 3rd consecutive session due to demand concerns. Iron ore futures have dropped to their lowest level in over 4 months, dropping by 5% over concerns that steel prices are to remain pressured by slower demand.
Looking at the day ahead, we’ll get various house price data points including the September FHFA house price index reading, Q3 house price purchase index reading and September S&P CoreLogic house price data. On top of that we’ll get the November consumer confidence survey which is expected to slip nearly 2pts to 135.8 in light of the recent wobbles in the equity market. That is, however, in the context of the 18-year high that the index reached last month. Away from the data, there will be plenty of focus on Fed Vice-Chair Clarida’s speech in New York today at 8.30am ET, especially around the topics of how he characterizes recent volatility in markets and the prospects for domestic and global growth. Fellow Fed officials Bostic, Evans and George will also speak while the ECB’s Nouy, Costa and Mersch also speak at various stages. It’s worth also noting that starting today and continuing until Thursday, the three top candidates to take over from Merkel as head of the CDU will hold panel debates.
US Event Calendar
DB's Jim Reid concludes the overnight wrap
We took our three year old Maisie to the building site that is our new house over the weekend and this may have been a mistake as over the last two days she keeps on asking us why our new house is broken. She was particularly upset that a lot of windows and walls were missing and said she doesn’t want to live there as it would be too cold. Meanwhile Daddy’s bank account feels broken this morning as there was talk yesterday that one of our big suppliers might be about to call in the administrators. They have a healthy deposit of ours so it’s very annoying. It’s fair to say that costs are escalating from all angles and the EMR may need to still be running from an old people’s home in 50 years time to fund this.
From broken houses to slightly less broken markets. Given that the two Mondays prior to yesterday had seen moves of -1.66% and -1.97% for the S&P 500, yesterday reversed the trend as better news percolated through on some of the negative stories that have dominated of late. The S&P 500 closed last night +1.56% with the DOW and NASDAQ also up +1.46% and +2.06% respectively. The NYFANG index advanced +3.72%, despite Apple’s underperformance (initially down -1.18% before rebounding to close +1.35%) as the US Supreme Court signalled its willingness to hear a class action lawsuit over its app store pricing. Financials really led the way with the S&P Banks index rallying +2.30% for its best day since July. They had their European counterparts to thank for that, with the STOXX Banks index (+2.91%) seeing its best single day performance since July 2017. The broader STOXX 600 closed +1.23% and DAX +1.45%.
Italy was the main catalyst as sentiment improved on the potential for more positive negotiations with the European Commission. As we reported yesterday, the weekend saw less confrontational remarks from Salvini and Juncker. In addition, Salvini said yesterday that the government is “not getting stuck” over the decimals in the deficit target while fellow Deputy Premier Di Maio confirmed that “if, as part of the negotiation, we need to reduce the forecast deficit slightly, that’s not important to us.” Di Maio went on to say that “the issue is not the conflict with the EU on a deficit of 2.4%, what’s important is that not even a single person is kept out of the core measures.” Prior to this, we also had headlines on Bloomberg suggesting that an official for the League had said that the Government was looking at a new deficit target of 2.2% to 2.3%. Late in the evening, political leaders Conte, Salvini, and Di Maio released a joint statement after their meeting, confirming their less confrontational tone and again deemphasising the decimal place of the deficit number.
As we go to print headline are coming through from Italian finance minister Castelli that the deficit target is “almost certain” to be 2.2%. The question on everyone’s lips is what is the compromise number that the European Commission could realistically accept? A deficit in the 2.2% area is still unlikely to satisfy the EC, however a willingness to negotiate might be seen as the Italian government being aware of the implications of its actions. The Commission could even accept a somewhat vague framework as a rationale to defer a formal decision on Italy until into 2019, potentially alleviating some of the near-term event risk for Italy-linked
Before all this news the FTSE MIB closed yesterday up +2.77% while Italian Banks (+4.83%) had their best day since June. Two- and ten-year BTPs rallied -11.2bps and -13.8bps respectively – albeit off their yield lows for the session. Speaking of Italy, the ECB’s Peter Praet said yesterday that there has been very limited spill-over from a tightening of financial conditions in Italy to the broader Euro Area, but that conditions in Italy are “unsustainable” and “so something will have to give.” Praet’s general tone outside of this was constructive. His comments suggested that QE will finish in December as widely expected, but also that the ECB will have to clarify was it meant by “reinvesting for an extended period of time.” Praet also confirmed that guidance is “a very strong expectation” but also noted that “downside risks have increased noticeably.” This was notable as the Council has previously said that risks are “balanced.” Praet’s speech raised the anticipation levels for Draghi, who spoke in the afternoon. While his speech was virtually a copy and paste from his last on November 16th, he was later quoted as saying that “world growth momentum has slowed considerably” which is much stronger language compared to that used in the past. The December 13 ECB meeting will be key, and our economists still expect the Governing Council to announce the end of QE. Incoming data will dictate the evolution of policy, but we still expect growth and inflation to progress sufficiently to allow for an interest rate hike in September 2019.
Praet and Draghi are scheduled to speak again this week, on Wednesday and Thursday, respectively. We’ll also get several consequential communications from Federal Reserve officials, with speeches scheduled today for Vice Chair Clarida, tomorrow for Chair Powell, and Friday for NY Fed President Williams. The bottom line so far is that he doesn’t think there is sufficient evidence to ratify the market’s dovish interpretation of recent Fed communications, though that could change depending on what the Fed leadership says about the neutral rate, financial conditions, and global growth. So an important couple of speeches today and tomorrow from Clarida and Powell.
This morning in Asia markets are largely higher with the Nikkei (+0.88%), Shanghai Comp (+0.42%) and Kospi (+0.84%) all up while the Hang Seng (+0.01%) is trading flat after erasing earlier losses. Sentiment seems to have been impacted by US President Trump’s rhetoric, after an interview with the WSJ, that he will likely push forward with plans to increase tariffs on $200 billion of Chinese goods. He also suggested that the US would likely impose tariffs on the remainder of Chinese imports ($267bn) if the trade talks on the sidelines of the G20 fail. So the pressure builds ahead of the summit. Futures on S&P 500 (-0.18%) are pointing towards a softer start.
Back to yesterday, Bund yields edged up +2.1bps yesterday with the Italy news more important than any ECB slowdown worries. That move for BTPs and Bunds means the spread between the two yesterday was -15.9bps tighter and now at the tightest level in nearly three weeks. Meanwhile Treasury yields also backed up +2.0bps and are now sitting at 3.06%. Oil had a part to play in that with Brent and Crude bouncing +3.13% and +2.54% respectively – despite the news that Saudi Arabia had again raised its oil output – perhaps with hopes that the oversupply condition will be addressed at the G20 this week or the OPEC meeting next week. Tensions between Russia and the Ukraine over the weekend seemed to have less of an impact.
Not hurting the decent day for equities yesterday was news of a merger in the Greek Banking sector, however a sub-index of Greek banks did give up an early morning surge of as much as +11.57% to finish flat. A pretty substantial move and retracement! In the US, the auto sector advanced +3.98% for its sixth best day of the year, after General Motors announced a broad new restructuring plan. It plans to cut over 14,000 jobs and close five North American manufacturing plants next year, barring an agreement with its unions. GM’s share price rose +4.79% to a four-month high.
Elsewhere on Brexit, Donald Trump has suggested PM May's Brexit agreement could threaten a US-UK trade deal. He told reporters the withdrawal agreement "sounds like a great deal for the EU" and meant the UK might not be able to trade with the US. The PM’s office insisted the deal is "very clear" the UK would be able to sign trade deals with countries around the world.
To the day ahead now, where this morning in Europe we’ll get November confidence indicators in France and Italy followed by the CBI’s retailing reported sales data in the UK for November. In the US this afternoon we’ll get various house price data points including the September FHFA house price index reading, Q3 house price purchase index reading and September S&P CoreLogic house price data. On top of that we’ll get the November consumer confidence survey which is expected to slip nearly 2pts to 135.8 in light of the recent wobbles in the equity market. That is, however, in the context of the 18-year high that the index reached last month. Away from the data, there will be plenty of focus on Fed Vice-Chair Clarida’s speech in New York today at 1.30pm GMT, especially around the topics of how he characterizes recent volatility in markets and the prospects for domestic and global growth. Fellow Fed officials Bostic, Evans and George will also speak this evening at 7.30pm GMT while the ECB’s Nouy, Costa and Mersch also speak at various stages. It’s worth also noting that starting today and continuing until Thursday, the three top candidates to take over from Merkel as head of the CDU will hold panel debates.
submitted by rotoreuters to zerohedge [link] [comments]

Petrodollar, Fiat Currencies, Foreign reserves and whether a gold backed currency is a solution? And will David do a segment on this on TDPS?

I am no economist. Though I have recently got interested in all this mumbo jumbo. I have researched extensively on the geopolitics of China. Through that, the geopolitics of Russia came up. Through which Putin's attempt to bypass IMF and World Bank and the Dollar to bypass US sanctions came up. When I looked into how that all would work, I ended up with the mess of information and the muddle of thoughts I am in now. This is my understanding of the matter from my research. I could be completely wrong with regards to some things here or all of them. However, like many of my posts, this too is a mental exercise to inform other people, get them thinking about it and gaining information myself and correcting my own misunderstandings on matters. Therefore I would like as much well informed, sane and serious discussion on it as possible.
in 1944, all the countries entered into the Bretton Woods Agreement which basically said that all of the world’s currencies would be backed by the US Dollar and the US dollar would be backed by gold and any country could convert their currency into US dollars and then redeem US gold in exchange for that at the rate of 35 dollars per ounce of gold. Since US had the largest gold reserves at the time (75% of the entire world's gold), everyone agreed. This also allowed US treasury to fix exchange rates of dollar into different currencies and set the interest rates for inter-banking transactions etc. However, the multiple wars of the US during the ’60s caused domestic inflation in the US and the value of Dollar to fall. This caused panic in all the countries and they started redeeming gold from US treasury. The US gold fell from 20,000 tonnes to 8100 tonnes very quickly. Thus, in 1971, Nixon closed the gold window i.e. he suspended the ability of any nation to redeem US gold against dollars and took the gold backing off of the US Dollar. While that allowed US to retain its gold reserves, it made the need of the US dollar among other countries non existent. So everyone started to move away from the Dollar. After that, US economy started to spiral and the price of gold became 135 dollars per ounce. On top of that, the Arab world hiked the oil prices. Now, the US desperately needed to stabilize the spiral. So they brokered a deal with the Saudis that the oil producers would not only trade oil in nothing but US Dollars and convince the OPEC (the middle eastern, north African and other oil producing countries) to do the same but also invest their (OPEC’s) oil profits in US treasury by buying US Treasury bonds. This basically means that they (OPEC) are buying out US debt. Not only this, US is printing Dollars against the amount of Foreign investments in the US treasury which is made by Oil producing nations which are their oil profits. So basically, profits from every barrel sold by OPEC make way to the US treasury and become the value against which dollars is printed. Ultimately, more the profits in oil, stronger the dollar and lesser the profits in oil, weaker the dollar. Thus US gets a double benefit out of every barrel of oil in a way. In exchange the US would sell them (Saudis) advance weapons and all the gold they demanded. (So basically weapons and gold sale in exchange for trading oil in dollars props up US dollar. Gold is still propping up US dollar indirectly by forcing the oil producers to trade in dollars). Thus the petrodollar was born. This caused the world to need US dollar again. If you wanted to buy oil, you needed US dollar by either converting your currency or by selling stuff to the US. The latter is more preferred as it is cheaper than exchanging your currency and also grows your economy. So once again, US became the benchmark of international trade since no country can hope to grow its economy without using energy aka oil and you can’t have oil without US dollars. As long as all these countries need oil, US can just print Dollars out of thin air and balance it against oil barrels (as explained above) without actually even owning a single drop of oil. (Other countries need to own the gold that they balance their currency against). US does not need to control oil, they just need to control the currency it is traded in to keep their economy afloat. (more on that later in US foreign policy). Similarly, US brokered a deal with the Latin American countries to not only trade in the US Dollar but also to give precedence to US, EU and Japanese products in trade. So if more and more countries decide to shun the dollar and trade in other currencies, this would eventually cause OPEC to switch as well and Dollar could collapse.
How? Well, US is basically just printing enormous amounts of money out of thin air. This money is being used domestically and to a much larger extent, globally. If international oil trade in dollar stops, people stop needing the dollar and use their own currency. So all the internationally circulating dollars would come back to US. Now that is just too many dollars against very little amount in the treasury and that would cause hyperinflation and economic spiral. However, the logical next step would be to just destroy the excess dollars coming in from abroad and that would keep the country’s economy afloat. While that is okay but remember, what is the dollar being printed against? The foreign investments in the treasury which are the profits from the oil trade in dollars. That would go away as well essentially leaving nothing in the treasury against which the dollar is valued. Hence, dollar will literally not be worth the money it is printed on.
Second, since US currency is basically a petrodollar, its power depends on the control of oil. So right now, whoever controls middle east has major power. Today, Saudi Arabia controls the Middle East and US controls Saudi Arabia. US-Saudi brotherhood sort of makes it impossible for other countries to have an influence over this. Russia has tried for decades to establish a strong foothold in the middle east but has been unsuccessful. It has also dictated the US foreign policy far the last 5 decades. Like I said, US needs to control not the oil reserves but the currency oil is traded in. Hence all the wars we hear that were for oil, were not actually for oil per se but intimidation tactics against countries that announced that they would no longer accept the dollar as a currency in international oil trade. Egs When the Ayatollah of Iran announced their intention to denounce dollars in oil trade and use their own currency instead, US backed Iraq to go to war with Iran and even provided the Weapons of mass destruction to use on Iran that they later used as an excuse to invade Iraq and prosecuted Saddam Hussein for. When Iraq invaded Kuwait ( a major producer of oil) to be able to pay their loans to Kuwait and then later asked for Euro to be used for oil trade rather than Petrodollar, US invaded Iraq. When Gaddafi asked gold based Dinar instead of US dollars for oil trade, US invaded Libya. When Chavez did the same, Us staged a coup in Venezuela. However, starting a non-petro currency would break this link and oil and Middle east would become less relevant for Economic power and only be of interest for energy concerns. It is still important but less so than an economic and geopolitical chessboard of US that it is today. It may actually be a solution to achieving peace in the middle east.
However, another thing that happens is the Middle East controls prices of oil which is tied to the Dollar. Recently, the Middle East (OPEC or basically Saudi Arabia) has decided to drop the international prices for their own economic reasons. Now, the countries that have oil production as a major source of revenue and trade in dollars eg many N African countries, Venezuela have seen their economy completely destabilize and destroyed. These countries are sick of US and Saudi controlling the markets in a way that affects other countries adversely. Hence, for these countries, switching to the international trading system of a gold based currency will cause their economies to stabilize.
The international reserves of EU etc, on the other hand, have seen increased holdings by the OPEC countries and have been worried about increasing power of these countries in the international banking system. They would be only too glad to get rid of these holdings.
Now, non Dollar currency would cause a fall in the US dollar value. In lieu of that, here is another thing that needs to be considered. A lot of the developing countries have international trade deficits. Now these trade deficits can be in the currency of the country to whom the debt is owed or any other internationally accepted currency eg. the Dollar. If the debt is in dollars, the conversions and interest rates of borrowing are determined according to the rules of the US treasury. Again, the rates in the US treasury are linked to the value of the dollar. Most countries giving out loans prefer to do so in dollars as historically the Dollar is strong and trusted not to collapse and hence the money they owe is safe. The countries taking loans also convert their debts to dollars as it is easier and the country to whom the debt is owed cannot just up and change the value of the debt owed by manipulating their currency as the dollar has determined the conversion into other currencies at fixed rates, so it is safe for everyone. However, there is a slight problem with this. If you owe a debt of 1 dollar to someone, when you pay the debt, it will depend on the value of the dollar to your currency at that particular instant. So if the dollar has gotten stronger wrt to your currency, you shall have to pay more money and if the dollar has gotten weaker, you will owe less money in your currency. Hence the fall of the dollar would be beneficial for the countries who owe a debt in dollars and bad for the countries who have loaned out debt in dollars.
Also, taking debt in dollars becomes cheaper if the value of the dollar falls since the US treasury interest rates are directly tied to dollars, hence it becomes cheaper to borrow in dollars. Also, as I said, if it grows weaker still, yo will owe less money.
One more thing to consider regarding fall of the Dollar is this. Until now, the oil producers have been buying US treasury bonds due to the Bretton Woods deal. Other countries and US and other corporations do so too. Now, the US treasury gives a fixed rate of interest to those investing in the treasury. This rate, in turn, is linked to the value of the dollar. Stronger the dollar, more the interest on US Treasury bonds and more the foreign countries invest in it. Now this means that these foreign countries would much rather invest their money in US Treasury at an assured fixed rate of interest than investing it in 3rd world countries and take a risk of maybe losing it. However, if the value of the dollar were to fall, the countries would much rather draw out of the US treasury and invest more in the startups in different countries, domestically etc.
The other side of the same coin would be the countries dependent on US investment. Should the value of the dollar fall, the investment being received from the US would be of a lesser value.
On the other hand, there is one more thing. Like I said, investments in dollars are governed by the US treasury rules. Now, basically, US banks have cut the taxes on money transfer and conversion, artificially keeping them very low to fuel the domestic and world trade etc. If the dollar were to collapse, people wouldn’t trade in dollars. They would trade in other currencies. The inter banking across the world would be then governed by the rules of the currency you trade in, for eg, BRICS nations will follow the tariffs etc of the Shanghai Bank where most of the reserves are held. So that effect would then depend on the rules of the bank you deal with and that can be detrimental or beneficial depending on the bank’s policies compared to the dollar.
Also, countries having holdings in the US treasury would lose the entire value of their foreign reserves. On the other hand countries like BRICS who have their reserves in other international banks would retain the value of their foreign reserves in those banks.
What does this mean?
Let's consider a currency X. X would also fall with the fall of the dollar in its current state. Now, we usually run around with the perception that X is backed by gold, That’s not true. The truth is 99% of today’s currencies US Dollar, Euro, Yen, all of them are fiat currencies i.e. their value is not determined by the gold they hold but by the economic strength of the government and the trust of the world in that currency. Only an average of 4–7% of any country’s currency is today, backed by gold. US Dollar - 4.5%, Similarly X lets say is - 5%. The rest is held in the terms of foreign reserves in other countries like in the form of US Dollar (for X lets say, its around 70%) in US treasury bonds, in world bank or IMF, in other currencies ( lets say for X its around 25%) and other foreign reserves etc. Currently, if you have X1000, only X50 is gold, around X670, is held in the form of US dollars and X280 in other currencies. You might ask why is that? Well, remember the Bretton Woods agreement. At that time US had 75% of the world’s gold which backed dollar and dollar backed other currencies so most of the currency of any country was backed directly or indirectly by dollar by gold. Now, it is difficult to keep gold in your country so it was convenient for other countries to just hold foreign reserves in dollars especially with the fixed exchange rates they provided. Hence more and more portion of their currency was being held in dollars. However, after Nixon shock of 1971, dollar removed its gold backing. So, automatically all other currencies that were backed by the dollar (99% of the world currencies) also became fiat currencies as a result. However, the dollar was still good and trusted so no one thought much of it, especially since dollars were being printed out of thin air. However, now with the prospect of the trust in dollar fading, this has started to worry some experts. Because of the senseless printing of dollars and in exchange all the fiat currencies, the total amount of currency can nowhere near be compensated by the gold reserves even if all the gold in the world was put together. It would form not more than 10% of the currency in the world. Now, putting this disturbing detail aside, if Dollar were to collapse, X670 of your X1000 would become worthless, too. So, it isn’t wise to hold US dollars, is it? No its, not and many countries have woken up to that fact.
China has been secretly amassing large amounts of gold. OPEC countries have started removing their capital from US treasury. See, these oil producers have been receiving US gold in exchange for trading oil in US dollars and have accumulated holdings in other countries’ treasuries. Now with all the crazy gold, they have received they have bought material assets like real estate etc even in other countries. Now, they can simply sell out their US treasury bonds and buy more assets such as gold and real estate from it, which they have been doing in the recent years. Now, this will start depleting the treasury and cause the fall in the value of the dollar, in turn, causing other countries to withdraw and invest elsewhere. That, coupled with Russia and China doing trade in Roubles and Yuan, India and Iraq trading oil outside of dollar, Germany and China trading outside of Dollar, the strengthening of BRICS bank etc, Dollar has been showing a steady decline.
[Edit :the petrodollar is based on a commodity that is being depleted. Oil reserves are declining and the world is moving towards other sources - gree energy, nuclear energy etc. So the petrodollar decline is destined. However, what would US do next? US could shift to backing the dollar with nuclear reserves or some new crazy idea out of someone's hat. That will, inevitably affect all other countries.
Which brings us to: The thing that worries most nations is this - having international trade and foreign reserves in dollars gives US a single handed say on their economies. Just like Nixon's unilateral decision changed the fate of all currencies, other decisions by it can also change their economies. US can dictate their rules and if you don't follow them - sanctions. This is one of the major reasons Putin has teamed up with China - in order to bypass US sanctions. By passing Dollar would take away the power of the US to unilaterally change the playing field. So the countries want to take back the power of making decisions in their own hands.]
On the other hand, China's attempt to start a gold backed currency may not pan out because like I said all the gold in the world is not sufficient to back all the currencies in the world. Also, since most currencies still have a large amount of dollar backing, fall of the dollar would make that percent of the currency valueless and therefore even have a reserve in another foreign currency could still cause a fall in X currency though it might be a little mitigated. On the other hand, fiat currencies are run by the investors' trust in the currency. So even if the dollar falls, a fiat currency with foreign reserves in the dollar may not fall because the confidence in that currency is still high. Sadly, such a currency would be Chinese Yuan (or am I wrong about that?). So, the policy to fix this? I am still trying to work on that solution. Though I have come to believe that neither the fiat currencies nor the gold backed currency are a solution. Maybe taking gold, platinum, silver and other precious metals together would be a basis. Maybe Us could switch from oil backing (oil will deplete in a few years anyway) to nuclear reserves happen. That would be a similar thing, just the power would no longer be in the hands of the middle east. I don't know. This is a post in evolution. My thoughts on this are still in evolution and I would really like some economists to come and hold a serious, well informed and sane discussion on this.
That’s all I can think of for now, I will add more when it occurs to me.
In addition to this, there has a very interesting discussion on Bitcoins in this relation which I will summarize below:
The discussion started with the question: do you think blockchain technologies like bitcoin could mitigate the lack of total amount of gold in the world?
The following points came up:
I don't think that is possible. Bitcoins, too, are created out of thin air. Though there is a cap on the total number of bitcoins to be created (21 million), this is high in the debate to accommodate the need for more transactions. If the rules were changed and more bitcoins were generated, it would have the same effect as the dollar.
The value of the bit coin, too, depends on the willingness of everyone to use Bitcoin as a currency. So it is basically a more extreme version of a dollar with additional problems. Bitcoin suffers extensive volatility. It is very unstable to use as a reliable replacement currency.
In my understanding, Bitcoin uses people/their computers computing problems (computing problems is a method to verify the transactions happening through block chain) as a sort of cost for earning/mining the Bitcoins in an indirect fashion. That would be similar to if one were to link the value of a currency with the productivity of the country. That is liable to fluctuation and hence there would be extreme fluctuation in the value of the currency as well.
Now bit coin has no determined exchange rate. It has no backing in terms of gold or dollars or real estate or anything. It has a value that the collective consensus agrees its value to be and that fluctuates massively, even more than stock exchange. If people start selling bitcoins, its value falls, if they start buying bitcoins, its value rises. It is a form of virtual stock exchange on steroids. It runs simply on basis of faith. So while many traders do accept bitcoins, they still maintain actual currencies as the primary mode of transaction.
One thing I like about bitcoin is that it bypasses the banking system and hence makes transactions everywhere much easier. It also takes off the effect of the governmental fiscal/monetary policies on affecting the world. However, other policies can still affect it. Eg. internet security policies, massive firewalls etc.
Next, another problem with it being decentralized is that there is no mechanism or body to resolve disputes. I mentioned a firewall. China has a massive firewall that causes Chinese Bitcoin network to get disconnected from the rest of the world for days. So, the Chinese keep carrying out transactions in a different virtual world and the rest of the world is in a different virtual world.When the worlds collide after a couple of days, the issues are not resolvable and there is no one to settle disputes.
The format of the bitcoin is this. Right now it pays block benefits to miners that form 99% of their revenue. Later, as the number of bitcoins to be mined decreases, this is to be replaced by a transaction fees revenue. Now, the number of people using it is low. Therefore the transaction cost would go very high making the transactions in bitcoins costlier and decreasing the number of transactions taking place in it and devaluing the currency. And the people sort of in control of its policy are split on how to handle that issue.
Next, there are other currencies like Ethereum etc that are coming up and we see Chinese investing much more in Ethereum than in Bitcoin. Now, again, even Ethereum has no intrinsic value and there is no way to determine the value of one currency against another.
Next, there is again the problem of founding currencies on currencies. Like with the dollar backing all currencies of the world, there are people creating currencies backed by existing cryptocurrencies eg Kin over Ethereum. This again causes pegging of currencies to another one and hence presents the dollar problem in a digital format.
Next, Bitcoin seriously threatens political power and banks. Hence, it will suffer a severe backlash from them. While they cannot control the blockchain, they can change internet and capital policies and control the ends of the chain and levy backward taxes etc and hence manipulate these as well.
Also, as the number of bitcoins is limited, the number of people mining it is less and a trend of hoarders and squatters is emerging even with Bitcoin. When Bitcoin started you could just mine bitcoins using your CPU and GPU. The amount you earn depends on the number of transactions you verify through solving problems. Therefore the more problems you solve per minute, the more bitcoins you earn per minute. Therefore the more speedy and memory savvy your equipment and faster your internet speeds, the more bitcoins you earn. Sadly, with the increasing competition in the Bit-world and the flood of greedy/opportunistic Chinese among other people swarming the cryptocurrency markets, the equipment required to mine bitcoins is getting more and more expensive which concentrates the ability of mining in the hands of people who are ready to seriously invest in expensive and high-speed hardware. This would again lead to a sort of centralization of power with the people holding bitcoins and they can internally manipulate the currency which would then again cause people to lose the appeal and defeat the whole purpose of it. It also increases the risks of 51% attacks, again something that will cause bitcoiners to abandon ship. Also, if bitcoin is going to cut the rewards for mining, it will be less and less profitable or even profitable for miners and hence they will stop mining and maybe sell off the Bitcoins.
Also with the sort of disarray in the management of the bit-system, some of the transactions are taking hours and even days to go through creating more and more hassles for the users.
Plus, what happens if the servers in your area are down or there is a power outage due to some reason and bitcoin is the only currency in the world?
Also, Bitcoin runs on the collective ledger kept around the world of all transactions happened and happening in real time. One cannot use most Bit-Wallets without downloading all of this data. The data increases with every new user and every minute Bitcoin is in use. As time passes and Bit-users grow, this data will reach gigantic proportions. This again puts limitations on Bitcoin to be more and more feasible for people who can afford to invest in expensive hardware that can store massive amounts of data. Since that would decrease the number of users, the overall number of users in the bit-system will be maintained within a certain range because of this. Since the pool of people and transactions will be less, the transaction fees charged to keep paying benefits will become higher causing lesser transactions the currency to collapse.
So, the currency is young and there are so many things to consider. It also needs to evolve a lot before it can be even universally be accepted as a currency. I cannot say whether it could replace the currency systems or not, whether it should replace them or not. You will find very strong opinions on either side. I believe it will have a parallel role for about a decade before such a question can come close to a possible answer. Trends will be clearer after some time. All I can give you is my opinion for in what context bitcoin should use.
IMO it might be wiser to use Bitcoin as a transaction currency instead of a primary currency. What I mean by that is, unpeg the currencies from the dollar, allow the free market to decide the value of your currency and the exchange rates and determine the absolute value of a bitcoin-like currency. Then make a bitcoin-like currency which can be both virtual and physical that is universally accepted for trade wherein it is just a means of exchange in cases of international trade. Also, let everyone (countries) using it have a say in the administrative decisions of it.
Moreover, a world currency will never be possible. Weaker economies require a weaker currency for their benefit and stronger economies require stronger currencies for their benefit. When you have a common currency with different economic strength countries, you end up with something like the crisis in Greece because of the Euro. There is a lot to consider for that.
Free Floating exchange rates also came up.
In addition to that, before 1944, the world was linked to gold standard. So that allowed for easy capital mobility and currencies were not dependent on currency. After Bretton woods, the problem was pegging of the currencies to US Dollar which tied all the currencies to the fate of the dollar. So its not that even a fixed rate system can't work, it can, maybe not in the form of gold standard but some other form. Th problem is there shouldn't be too much power in the hands of one person.
While I do think in today's scenario, free float would work but that restricts trade and while it will be beneficial for countries like China and even Germany which are producers and will help them to boom domestic market it will not be welcomed by the west as they are dependent on trade to provide for their basic needs and local production and increased difficulty of trade by free float would increase their cost of living tremendously. Don't you think? Thoughts in evolution.
Unless there is a universal trading currency that is decentralized and controlled by equal votes by every country using it and has a set value. So, it would be something like a dollar but maybe rooted to an anchor for value like in olden days it was gold. It could be something else now, a proportionate part of which can be held in the reserves of different countries and allows for easy trade and exchange across the globe but prevents the monopoly of one country.
submitted by concernadian to thedavidpakmanshow [link] [comments]

[Table] IamA guy who accidentally started a soy candle business while high. AMA! (Second time)

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-12-21
Link to submission (Has self-text)
Questions Answers
Why soy? It was the first wax I stumbled upon when I started my candle making supply search. The more I learned about it, the more I liked it. It's made from soy beans, so it's renewable, and all the beans are grown in the Midwest. I grew up on a farm, so I know how important it is to support farmers. It's completely biodegradable and nontoxic. You can literally eat it. When I started researching paraffin wax, I was shocked. It's a byproduct of petroleum refinement, and contains carcinogens that cause cancer. It's not renewable, the process of getting it is quite damaging to the environment, and the wax burns faster than soy.
Hm, interesting stuff. Are most candles made of paraffin wax? Yes. I imagine the fact that it wont spoil like soy wax will is the reason it's used by large candle companies.
What is the half-life of a soy candle? One year.
I bought two candles from you in early October; Oakmass and Amber and Falling Leaves. By far the greatest candles I've ever had. They last long, smell insanely nice and actually scents up a room, and you're local-ish! When I order more, can I do a home pick up and burn one with you? Candle burning not required. You're too kind! I'm glad you liked them. Yeah, we can definitely burn up if you want to. Save a little cash on shipping, too.
I hope you don't wind up murdered. We can carry concealed weapons in Wisconsin.
Are you in Madison? Madison is kinda weird, but I love it. I'm just outside of Madison.
Do you ever smoke with the soy candles man? Who's he?
On a scale of 1 to Unicorns, how high were you? Banana.
So I could get a candle named CUNT_DESTROYER? Yes. If you tell me to name it that, I will. It's your money, yo!
Have you considered applying for Shark Tank? That would be an interesting episode. I would never get a deal on that show, nor would I want one. Giving up any ownership is not an option. This is all mine. I would, however, love the national publicity. That would help my growth tremendously.
Just have a really nice intro, of explaining your candles, and all of that stuff so people get interested. Then just bomb the interview, act like a dumbass so you get no offers, have a big billboard with your website and stuff behind you. There ya go. Alright. Somebody call Hollywood and get me on that show!
For someone who isn't a candle connoisseur, what is your favorite scent? recommendations? I have a lot of favorite scents. Oakmoss and Amber is earthy and sweet. Caribbean Teakwood is dark and leathery. Blueberry Cheesecake makes you want to eat the candle, itself... Those are just a few of my faves, but I really like most of the scents I offer.
But CAN you eat the candles? It is just soy right... Without scent oil and dye, you could eat the candle. Soy wax is actually a really good skin moisturizer. Mix a little extra virgin olive oil into pure soy wax, and say goodbye to dry skin. I should start offering that...
What candle best covers up the smell of pets? All of them are scented strongly, so they'll do a good job. Except for maybe a scent like Rain, or Ocean Mist... They are just a lighter scent. Strong, but light.
Anything special you do to prevent frosting? Frosting is a tricky one... I can't give away my secrets...I've spent months trying different environments to let the candles cure in...but I've eliminated it as well as I can. Most candles have none, but a few have a little patch or two of frosting. The appearance of frosting is a good indicator of your candle being made with 100% soy wax, though, so it ain't all bad.
For those of us who don't know, what is frosting and why would you want to prevent it? Frosting is when the wax crystallizes during the curing process. It does no harm to the candle, it's just not pleasing to the eye for some people.
So pretty much frosting is a little tiny ugly mark on the candle? It can be tiny marks, or cover the whole thing. Most of it depends on the curing process, but they are still sensitive to rapid temperature drops after the wax is set.
Would you consider making a subscription candle service? I burn candles all day every day it would be awesome not to need to lug them from the store every week. That's a cool idea. How would I go about doing that?
Let me know if you need help with the set-up :-) I use Wordpress for my site, and Woocommerce for my cart. Will those work? I will need help with the set-up.
I must of missed the first ama and the repost in trees. But i need the story on how you started a soy candle business while high. got any tips for a stoner who is trying to start his own company? whats your favorite scent you have? I was high, staring at a candle burn for a long time just thinking about stuff. Then I realized that I couldn't smell that fancy Glade candle at all. I wondered if I could make my own candles better than Glade. So I browsed candle making supplies online, ordered 10 pounds of wax, 2 dozen jars, and some lilac scent oil. Several minutes later, I completely forgot I had done all that. Didn't think about it again until boxes showed up at my door. I had the "oh yeah, that's right!" moment, and got to work. I made all the candles and gave them away to friends and family. They liked them so much, they started requesting scents and paying me money for them. Then, local stores started contacting me to let them sell my candles. A few news papers interviewed me about my business, as well. It just keeps growing. And all I wanted to do was see if I could make a candle better than a air freshening company. I can assure you I have succeeded in doing that.
My tip would be to find something you think you can do better than what's out there, and then do it.
My favorite scent right now is Winter Cabin.
Please tell me you told the news outlet's that you were high when you started your business. "I was lying on my couch, staring at a candle for what seemed like hours..."
That was the closest I've come.
Do you sell on amazon? No, but somebody recently gave me the idea to sell there. I look to expand my presence online quite a bit in the new year.
How do you get stores to sell your candles? Have you ever thought of outsourcing production to China? Some stores contacted me about selling my stuff. With others, I would just walk into a store with a couple candles and sell them on why they should carry my candles. I would never move production to China. I would like to become the largest candle company in the US, with everything made right here.
Was there a time where you weren't sure you could be successful because it was an idea you got while high? Not for that reason, but there have been times when I wondered how I would make people aware of my products. How would I become successful if nobody outside of southern Wisconsin has heard of me? I worried about stuff like that. Then, I did my first AMA, and the exposure from Reddit helped build a coast to coast customer base that to this day continues to grow.
You seem to have great ideas when stoned. Do you come up with your new products while high? I ask a lot of questions. I ask people what they want. I'll be adding a 16 ounce candle in a glass container, soon. Double wicked...just have to work out the right wick combination... People have been asking for a larger size, so I'll sell a larger size. It's your money, you know? If you want me to make something that I don't have, and I can get the stuff to make it, I'll do it.
Do you use hemp wicks, and if no, why not? I haven't tried them yet, but I'm always trying new wicks to find the perfect one, so I'm sure in the future I will eventually try them. Whether or not I end up using them is dependent on how they perform.
I'd love to try your candles if you found a way to use wooden wicks. I found a wood wicked candle about a year ago and burned it sparingly just so that I could enjoy it longer (the sound is just heavenly), but now I can't seem to find another. TL;DR: Maybe try wooden wicks? :D Wooden wicks are on the horizon! Stay tuned...
How do your wax melts compare to the name brand (Scentsy) melts? Definitely thinking about buying some tonight. The only way for you to find out, is to try them. But, mine honestly blow scentsy's away. My wax melts are 6 ounces, compared to scentsy's 3. The cubes are one ounce each, and I get at least 5 days of noticeably strong scent release while keeping the warmer going 24 hours a day. Then, you'll get a few more days of adequate scent release. If you try them and don't think they're better, send them back and I'll refund your money. I've offered that return guarantee since I started, and haven't had a single thing sent back to me. I'm pretty sure you'll like mine more.
Can your melts be used in a Scentsy warmer? Being from Wisconsin myself and a warmer user you have me very close to switching my business. You certainly can!
Did you get a business license? If so, what kind? No.
How much money have you made from these soy candles? Is your stock public? I'm a one man operation who has reached the point of outgrowing his kitchen, and moving into a larger work space. The money has been a nice boost to my income, but it's nothing I can survive on by itself. No, stock is not public...I hope it never is.
Does this mean you have a day job? What do you do other than make and sell candles? Yeah. I work for a place that makes reed switches and various sensors for all kinds of applications.
Where are you based out of? South central Wisconsin.
Is that near Eau Claire? I'm in Waterloo. Just outside of Madison.
I'll be going to Madison for school in January. I may have to stop by and get a gift for someone. Or, you know, candles are awesome too. If it was okay to stop by, would there be a potential sniffing of various scents available? Also you made Bacon specifically in time for the AMA, didn't you? I usually have candles ready to be shipped out that you could smell. I started offering bacon a couple months ago due to demand from my previous exposures on Reddit. Give 'em what they want...
I go to the UW! They don't let us burn candles in our dorm, though. :( I make wax melts, too. If you buy a warmer, you can use my melts!
Have you consulted with any other self made entrepreneurs on how to make your operation fully sustainable? What, if any tips have you gotten? All of them tell me to keep doing what I'm doing. I've been trending up since the beginning, so if I keep growing at the pace I have been, I'll be there in a few years. I'm in no hurry. I want to do things right and maintain a top-notch product.
Is this the plot of Our Idiot Brother? Did Paul Rudd steal your life to make a movie? Yes he did, but how can you be mad at Paul Rudd?
Would you ever make a peony scented candle? Peonies are my favorite flowers and I haven't found a peony candle ever and I really like your candles. Also, I think this is really cool what you're doing. I hope it all works out! I'm getting one for my best friend for Christmas. I can get that scent. Next time I order supplies, I'll pick some up. Thanks!
Whats your company name? Mack's Olfactory
I see you have scent melts! Are those also soy based? If so, do they last longer than non soy based ones? Am I just silly and all the wax is the same wax for your products? Everything I make uses 100% soy. I've never used paraffin ones, so I don't know, but everyone tells me mine are stronger and last longer than Scentsy's.
Well, just bought 4. Wondered if you had ever seen a coiled candle Link to www.thisiswhyimbroke.com. I've always thought they looked cool. What's the worst smelling candle you've made? Like you were going for pineapple, but ended up with vomit. Thank you for trying them! I've never seen a candle like that before, but it's cool as hell! All of the scents I use come pre-bottled, so I'm not mixing anything myself. But, I can't stand the Banana Bread and Coffee scents. I just don't like them.
Do you plan on ever mixing your own scents? No. I don't have time for that. And I can buy thousands of different ones premixed.
Where would I go to be able to purchase one of these amazing candles? I'm being a little lazy and can't figure out how to search for this. Link to my website
I love you so much. I shared your candles with my peoples on facebook. NINJA EDIT: They are also cheaper than I thought they would be! I'm so excited. I love you, too! Thank you for sharing my link. I hope you enjoy them!
How fast is your shipping time? Do you offer overnight or next day? I hadn't heard of your candles before, and I know some people who would over them for Christmas presents. I make them to order, and I use priority mail from the USPS. They'd never get to you before Christmas. Sorry.
Hey you might not know, but are they GMO soybeans? Just curious. "The short answer is no. Only a very small percentage of the total US production of soy wax is organic. About 98% of the soybean harvest has been either genetically modified (GMO) or non-GMO mixed in with GMO soybeans. All of the soy wax in the US is made by just four companies, and none of them currently process organic soy oil into candle wax at this time."
Wish your stuff was cheaper to ship to Canada. I remember we traded PM's last time you posted, but it just didn't make sense to pay that much for shipping. What are some scents you thought would turn out nicely, but ultimately failed? I wish it was cheaper, too! Dozens of Canadians have wanted to buy, but nobody wants to pay $25 shipping costs. If a certain scent doesn't turn out nice, I'll try it from a different manufacturer. None of the marijuana scents have turned out nice, though. They don't smell anything like the real thing.
Is $25 a flat rate? That wouldn't be too terrible overall, if it was a big order. I'm in Canada and I see at least 8 scents that I would have to have :P. The weight has to stay under 4 pounds. Go over that, and the price skyrockets.
Ah, yeah that makes more sense. Approximately how many 8 oz candles would that be? 3.
That's really cool man. Think you could easily make candles in a low-resource environment? I'm a Peace Corps Volunteer who's got no fridge and no reliable electricity or running water- think I could do it? If you can start a fire and melt wax to a specific temperature, yes.
Simpsons or Family Guy? Both. I've been watching the Simpsons since they were on the Tracy Ullman show, and I enjoy the ridiculousness of Family Guy.
You're locked in a room with the CEO of ikeas teenage son and you have to choose what to watch between the two for the whole next eight days... If that's the scenario, then I choose Simpsons because I could easily watch the Softball episode over and over again for 8 days.
Damn it, Mattingly! I thought I told you to trim those sideburns!
Alright I'll buy your candles. Pleasure doing business with you.
Who's your favorite cast member on Friends? Don't know. Never watched it.
I was hoping for the answer Chandler... Ha! Nice.
Piggy Wiggly exists that far north? Always thought that was a southern thing. They're all over Wisconsin.
I'm actually making soy candles tomorrow for Christmas presents- any tips? Also, I was thinking about adding candy canes because they're gonna be peppermint scented. Would that be okay?? Be gentle when stirring in the scent, and pay attention to temperature details. I wouldn't add candy canes to a candle...unless you love mayhem.
off, Macks Olfactory is very clever and made me giggle. But my question is, have you ever tried anything like this before(starting your own business) and if things were to take off do you think you can keep up with the demand? Thanks for the ama and best of luck. I will be ordering soon! I've never done anything like this before. My dad ran two businesses, farming and a dump truck contracting company, so I can fall back on him for advice and whatnot, but so far I've done everything on my own. Promoting on Reddit has sometimes overwhelmed me with orders, and it would take a couple months to fill orders, but I needed that to find out what I had to do to keep up with the demand. Upgrading my equipment and production capacity will resolve that. I'll be able to make dozens of candles an hour in the near future.
Do you have a Marijuana scent? I haven't found one that smells anything like the real thing. I wont offer it if it's garbage.
I'd love to get some of these mailed to australia, would that be possible?? Shipping to Australia is over $40, unfortunately.
Hey Mack. I just placed another order a couple days ago. Will it make it by Christmas? Probably not, unfortunately. I just finished up all the orders placed before December 15th. Nothing placed after that has shipped yet.
Does the bacon scented candle really smell like bacon? And if so, would you ship to the UK? It has a Bacos smell to it, but it's not that bad.
Whats cent would be the best to have sex to? Long story short, I had a 14 hour sex marathon with this woman I worked with that started as a joke, but ended up happening. I had strawberry candles burning the whole time. To me, that is the best scent to have sex to.
How profitable is this business? Better than minimum wage? Also have you tried making any candy scents? Specifically chocolate. It's profitable. I'd have to sell a lot to live off the income, which will become easy to do once I start selling a lot because buying a ton of wax and jars all at once will save me tens of thousands of dollars compared to what I'm paying now in smaller quantities.
I'll look for a chocolate scent for you.
How can I be more like you? I really don't know.
What's your opinion on higher-end, "designer" candles? For example, Comme Des Garcons and Cire Trudon. Do you think that your candles compare, in quality? How did you learn to make candles? Would you consider apprenticing, or something like that, at a company like Cire Trudon to increase your candle-making prowess? Rip off. Mine may not look as fancy, but I'll go head to head with anyone when it comes to how well the candle can scent a room. And you'd have to be crazy to spend almost $100 on a 9 ounce candle...
Do you take bitcoin? No, but I should probably start. I laughed at the notion a few months ago when they were about $110... Kicking myself for that one.
How did you come up with the money to get started? I have an idea and no clue where to go from here. It only cost me about $100 to get started.
My only question is this: Where the hell were you a month ago when I was trying to figure out what christmas gifts to buy?! Hopefully, we'll both be around for a long, long time. There will be more Christmas's. More birthday's. Mack's Olfactory will be right here.
Would it be possible to make a candle that smelt like a fireplace? Would be nice for the apt. dwellers. I can and will do that.
Leg hair shavings? Okay. EDIT: I suck at jokes. That sounds like a wonderful idea, but I'd rather use that money to buy Christmas gifts for my family during this season. I've spent too much on myself already! That's the first thing I thought of, too. I didn't understand how hair was going to help me match scents.
You've mentioned before you're able to get pretty much any scent for someone who wants it. What is this range limited by? Is there a catalogue of scents to choose from besides those on your site? The range is limited by Google's ability to find the scent for me.
Is the business how you make your living? Not yet. I still have to work a full time job, which makes making candles difficult, especially when you get 60 orders dumped on you all at once like what just happened to me... I'll hopefully get to that point in a few years.
Where do you get the scents from? Do you just add a couple of drops of "blueberry" and get blueberry candles? This sounds very nice, btw. I hope you can maintain the quality and the vibe... I buy all the scents pre-bottled and highly concentrated.
Super late to this, but I would like to get some of your wax melts. What warmeburnewhatever it is do you recommend, and how exactly do you use them/how long do they last? Do you run the warmer constantly, or in cycles? I recommend any that has a 20-25 watt bulb in it. To use them you simply break off a cube, like getting an ice cube out of the tray, and you toss them into the warmer. Mine will emit a strong scent for about 5 days running 24 hours a day, then you'll get adequate scent for another few days. You can run the warmer whenever you want. It doesn't have to be all the time.
What's the difference in wax melts and breaking off chunks of candle wax to melt? Also, how long do your wax melts last? The candle wax I use for containers is a softer wax than the blend I use for the wax melts. The container wax is like soap. The wax melt wax is firmer and more brittle. One of my wax melt cubes will emit strong scent for about 5 days, being on 24 hours a day. Then, they will emit adequate scent for a few more days after that.
I used to joke about manly saw dust scented products... any chance that could come in a candle? I'll look for sawdust scent oil. If I can find it, I'll sell it.
Hello! Checked out your website and was wondering what your wicks are made out of? I'd like to purchase some for a pregnant friend and I've read about avoiding wicks with lead, and to look for cotton? Thank you Lead wicks aren't around anymore. Just like lead paint and leaded gas is no more. My wicks are made of cotton.
After reading through this AMA I would like to buy some candles, live in Sweden. Will you ever start to ship internationally? If I can find cheap shipping, yes.
This is awesome. Do requests cost extra? I really love sunflowers. I can get sunflower scent oil. Next time I order supplies, I'll pick some up. There's no extra cost.
What do you use to add scent to candles? And do you make it yourself? I buy pre-bottled, highly concentrated scent oils.
Dude I have a candle business too!!! Lol. How many candles can you make per batch? Right now, 7. But last night I bought equipment to be able to make dozens at a time.
Soy wax also burns at a lower temperature, so if you spill it on your skin (or put it there on purpose -- whatever floats your boat) you are less likely to get burned. It also cleans up with soap and water unlike regular wax. Soy wax is awesome! Do you ever refill containers for people? People who buy them locally will return the jars for me to reuse.
Have you ever made a pot-scented candle? Several, but none of them have smelled like the real thing.
Did you make the first candle, or find somebody who would? I've made every single one I've ever made.
Do you have a dog named Willie Nelson? No. I have a cat named KitKat.
Question two: have you seen our idiot brother? Yes. Paul Rudd stole the story of my life and made a movie.
If you do custom scents can you do one that smells like a Douglas Fir? The vast majority of Christmas/Pine/Tree smells just all smell like bad air fresheners to me. Like that little pine tree people put in their cars. I'd absolutely love a candle that actually smells like a Christmas tree. I will search for that.
I'm late as hell to the party, but i was curious if your business as it stands now is profitable/sustainable? It's been profitable since day one. If it keeps growing the way it has over the past 2 years, I should be able to live off the income. Fingers crossed!
What's your gross revenue and net profit? I'll let you know once my taxes are done.
Not anymore... That's why Mark Cuban is my favorite billionaire. Dude is good at making money, but he understands that there needs to be a fairness to it, otherwise it becomes harder for the little guy to make it...just like he did.
You make me a candle that smells even remotely like Angel Whispers from Glade and I'll be a huge customer. As soon as I found that scent they discontinued it. I can get you that scent... Next time I order supplies, I'll buy some.
Call it "Pisces Dream" and you'll be my hero! Send me a pm when you get some made. You got it!
WOAH! What a great idea! You should definitly have a website or something that a customer can go online and easily pick out a nice scent they like and be able to have it named after them! [3]+ I make all the labeling myself, so if people ordered something but wanted the name changed to whatever, I can do that. Just put in the comments when ordering that you want the name changed.
I will snap order 5 of those bitches. Now, if you can make a cherry/peppermint blend, and call it "Serenity", you will receive 10 additional orders from me. I will be ordering that scent on Monday. I don't know how shipping will be with all the holidays coming, but check back in a week or two, and I will have "Pisces Dream" ready to go...along with several other new scents. I'll look for a cherry/peppermint blend, too.
You're a bad motherfucker. Gettin shit done. The candle industry isn't going to revolutionize itself...
Oh! Oh! Oh! Glade used to make a soy candle called "earthly awakening" that I was obsessed with. It was also discontinued. If you can make a replica of this you've just earned yourself another life long customer. I can't find a replica of that scent, but Amazon has a six pack of them available. There's only one left, so you better hurry! It's $56.
Depending on the laws of the state it may not be required, nor be applicable. Some areas, like my state (Colorado), have no such thing as a "business license"... Instead, there are forms and licenses with different names and purposes, which may be optional depending on the nature of the business. I've asked several business owners around town if I need any business licenses, and they say no. I might need a sellers permit, though.
If you could make a eucalyptus scented candle I'd be pretty keen on it. Straight eucalyptus?
You totally should do this AMA with a butcher and a baker... for science. Besties.
Last updated: 2013-12-26 01:16 UTC
This post was generated by a robot! Send all complaints to epsy.
submitted by tabledresser to tabled [link] [comments]

¡BITCOIN 8000$! ETF 21 MAYO?‍⚖HITBTC! /CRYPTONEWS 2019 Daily Bitcoin Update & Technical Analysis For September 21 ... Bitcoin Balances at a 21 Month Low As Exchange Exodus ... Limi- T 21 - Yo te seguire queriendo en vivo - YouTube Limi-T 21 - Medley 2 Soy,Me Faltas Tú,Y Yo Lloro - YouTube

Bitcoin ATMs – A Beginner’s Guide. By: Ofir Beigel Last updated: 5/4/20 Bitcoin ATMs allow the purchase and sale of Bitcoin with cash and with relative anonymity.In this post, I’ll cover the different ATMs around, their pros and cons and also show you how to find a Bitcoin ATM near your home. Another microtasking Concept which elevated the “ How to get Bitcoin ” game to a new level was 21.co. 5. 21.co. Website: https://21.co/ You get paid to receive emails from people, simple as that. It’s a hugely funded Bitcoin startup so there’s no doubt to it being legit. Der aktuelle Bitcoin-Kurs (13,025.81 $) im Live-Chart in EUR, USD & CHF im Überblick Bitcoin-Rechner Verfolge den aktuellen Kursverlauf live! There can never be more than 21 million -- and there are about 17.3 million right now. Every 4 years, the bitcoin halving happens where the new supply rate is cut in half. What's up with the Bitcoin price? This is the question everyone is asking. No one knows! It's now been 400+ days since Bitcoin hit an all-time high. The previous high was over 1,000 days. The good thing is, developers are ... This is because the rich from New York have been asking for $30-50K withdrawals so banks have created a limit between $3-10K in some areas. During the market massacre on March 12, Manhattan Bank ...

[index] [45971] [3395] [6148] [20622] [31276] [15181] [19983] [28067] [46289] [39299]


🔑 Cómo configurar Ledger Nano S la billetera de bitcoin más segura 🔑 - cripton - Duration: 9:26. Criptón - El mundo de las criptomonedas 8,157 views 9:26 Published on Jun 21, 2017 This video will teach you how to set your sell stop limit on Bittrex. please subscribe to my channel or go to www.princelee.com to know more about me De su album concierto titulado Real Time. This video is unavailable. Watch Queue Queue. Watch Queue Queue Exito de su primera producción discografica,publicada a principios de los años 90. Autor de este tema, Alvaro Torres.