Sunday, August 06, 2023
Sunday, June 04, 2023
इमरान साहब, बगावत बोल ही दो https://t.co/muwIVCECFk @ImranKhanPTI @FareedZakaria @NewsHour @cnn @nytimes @bdutt @TOIIndiaNews @narendramodi @PTIofficial @PTI @AndleebAbbas @PTIKPOfficial @PTI_KHI @PTIOfficialISB @PTISindhOffice @PTISPOfficial— Paramendra Kumar Bhagat (@paramendra) June 4, 2023
Monday, April 03, 2023
Global warming is killing Indians and Pakistanis Annual heatwaves on the poor and crowded Indo-Gangetic Plain are a horrific consequence of climate change ............ In the opening scenes of “The Ministry for the Future”, the novelist Kim Stanley Robinson imagines what happens to a small Indian town hit by a heatwave. Streets empty as normal activity becomes impossible. Air-conditioned rooms fill with silent fugitives from the heat. Rooftops are littered with the corpses of people sleeping outside in search of a non-existent breath of wind. The electricity grid, then law and order, break down. Like a medieval vision of hell, the local lake fills with half-poached bodies. Across north India, 20m die in a week............. The Indo-Gangetic Plain, which extends from the spine of Pakistan through northern India to the deltas of Bangladesh, is home to 700m people and exceptionally vulnerable to the heat pulses that climate change is making more frequent. It is one of the hottest, poorest and most populous places on earth .......... Between 2000 and 2019, South Asia saw over 110,000 excess deaths a year due to rising temperatures .......... Last year’s hot season, which runs from March until the arrival of the monsoon in late May or early June, was one of the most extreme and economically disruptive on record. This year’s could rival it. ......... above-average temperatures and heatwaves until the end of May. ......... Despite a relatively cool March, the coming weeks could be perilously hot. ........ Scientists record heat stress as a combination of temperature and humidity, known as a “wet-bulb” measurement. As this combined level approaches body temperature, 37°C, it becomes increasing hard for mammals to shed heat through perspiration. At a wet-bulb temperature of around 31°C, dangerously little sweat can evaporate into the soup-like air. Brain damage and heart and kidney failure become increasingly likely. Sustained exposure to a temperature of 35°C, the level Mr Robinson imagines in his book, is considered fatal. ........... India could become one of the first places where wet-bulb temperatures routinely exceed the 35°C survivability threshold. ......... The magnifying effect of the built urban environment, which can be 2°C hotter than nearby rural areas, is often especially pronounced in India’s concrete jungles. Those living in slum housing, which offer little air circulation and often use heat-sucking materials such as tin, suffer the worst of it. ........... “vast regions of South Asia are projected to experience [wet-bulb temperature] episodes exceeding 31°C, which is considered extremely dangerous for most humans” ........
India loses 101bn man hours per year to extreme heat, and Pakistan 13bn......... In 2017, heat-exposed work accounted for 50% of India’s gdp and employed 75% of the labour force, or some 380m. ......... warn people of extreme temperatures, advise them to stay indoors and drink lots of water, and put emergency services on high alert. .
The Indian Premier League is taking over global cricket India’s lucrative domestic contest is strangling international contests .
We are living through a trillion-dollar rebalancing Beneath a veil of silence, a hugely dramatic and powerful episode of financial repression is ongoing ...... There is nothing more inevitable than death, taxes and bank failures. But what about the bailouts? ........ we have entered a new era, one in which thoroughgoing liquidation of financial bubbles is politically unthinkable and so moral hazard and zombie balance sheets pile up. ....... Put them together and you have a vision of ever larger balance sheets, inevitable crisis and no less inevitable bailout, opening the path to even greater leverage and risk. ......... mega-quantitative easing in response to the truly unprecedented shock of the Covid-19 lockdowns. ............ We would not be here but for the pandemic. ..........
the trillion-dollar balance sheet shift from bond investor to bond issuers triggered by the post-Covid pile-up of inflation and interest rate rises.......... We need public investment so as to escape the reactive cycle we are locked in and to begin anticipating the challenges of the polycrisis, whether in public health, climate change or destabilising geopolitics......... Those in the bottom half of income and wealth distribution are bystanders in the great balance-sheet reshuffle. They hold few, if any, financial assets and pay relatively little tax. They have lived the drama of Covid and its aftermath as a shock to jobs and a cost of living crisis. Unlike bondholders or investors, their interests are not represented by lobbyists. Their households are not too big to fail. .
Friday, March 24, 2023
I’m sure it will be fine pic.twitter.com/JWsq62Qkru— Elon Musk (@elonmusk) March 24, 2023
Happy Friday! pic.twitter.com/hHS4Cr28yA— Douglas A. Boneparth (@dougboneparth) March 24, 2023
I’m stunned by this action and by its rapidity, within 24 hours of the court verdict and while an appeal was known to be in process. This is politics with the gloves off and it bodes ill for our democracy. pic.twitter.com/IhUVHN3b1F— Shashi Tharoor (@ShashiTharoor) March 24, 2023
Every startup needs...— Andrew Gazdecki (@agazdecki) March 24, 2023
- Scrappy builders
- People who thrive in chaos
- Inclusive culture
- Speed of execution
- Optimism and excitement
- Alignment around strategy
- Constant learning
- Purpose and meaning
- Consistent small wins
- Believing when others don't
BJP dar gaya!!! 😀— Sanjay Jha (@JhaSanjay) March 24, 2023
Rahul Gandhi wins game, set and match. BJP exposed as desperate, dictatorial.
UPDATE: India's annual rate of violence against journalists since 2014 has been just one-fifth as in the rest of the world - and 30% lower than in the United States. Data from the Committee to Protect Journalists. Chart by Salvatore Babones. https://t.co/UkYtG8cbEq pic.twitter.com/57en3ydhOF— Salvatore Babones (@ProfBabones) March 24, 2023
Today I got asked a fantastic question:— Harry Stebbings (@HarryStebbings) March 23, 2023
Have you ever been involved with a startup that achieved true product-market fit and still failed?
Investors, love to hear your response.
Mood: Moscow’98 pic.twitter.com/kvfBekntSm— Varia Bortsova 💙💛 (@variainayurt) March 24, 2023
Engine 1 is back online. Still need more time to do reconciliations, and for other engines to catch up.— CZ 🔶 Binance (@cz_binance) March 24, 2023
We were a bit unlucky with this bug. Our engines take hourly snapshots. This bug happened 57 min in. So, replay/reconciliation takes a bit longer.
Murder of Mandate pic.twitter.com/5t6aA1pzGx— Congress (@INCIndia) March 24, 2023
Nobody predicted that pure language wrangling automation could lead to AGI. Perhaps this is a consequence of our collective blindness to the fact that human language itself is a living thing. pic.twitter.com/4NtXdK5E2W— Carlos E. Perez (@IntuitMachine) March 24, 2023
Yeah, not possible to make motorcycles safe— Elon Musk (@elonmusk) March 24, 2023
Electric buses are safer than electric cars and much easier to maker driverless if run on pre-determined routes.— Paramendra Kumar Bhagat (@paramendra) March 24, 2023
Just 10 of these on 10 major routes running every 30 minutes will take half the cars off Kathmandu roads.— Paramendra Kumar Bhagat (@paramendra) March 24, 2023
जनसङ्ख्या बृद्दिदर घट्यो!— Madhu Raman Acharya (@MadhuRamanACH) March 24, 2023
विदेश बस्ने बढे!
उपत्यका छिर्ने थपिए!
गाउँका घर खाली भए!
जनगणनाले यस्तै देखायो!!
2024 comes closer.— Sanjay Jha (@JhaSanjay) March 24, 2023
The BJP has united the entire Opposition.
It is time every political party works to defeat this brutal regime and bring to an end India’s darkest age since 2014.
विश्व भर में भारतीयों, भारतीय संस्थानों व मंदिरों पर हमला, शहीद ए आज़म भगतसिंह को उनकी शहादत के दिन खुलेआम ग़द्दार कहना।यह सब अचानक नहीं हो रहा है।साल भर पहले चेताया था तब देश ने मज़ाक़ उड़ा दिया। ख़तरा बड़ा है, दिल्ली के बौने की योजना राजनैतिक दल पकड़ ही नहीं पाएँगे। दुर्भाग्य😣 pic.twitter.com/lXtClVa2pN— Dr Kumar Vishvas (@DrKumarVishwas) March 24, 2023
लोक सभा से राहुल गांधी जी का निष्कासन चौंकाने वाला है। देश बहुत कठिन दौर से गुज़र रहा है। पूरे देश को इन्होंने डरा कर रखा हुआ है। 130 करोड़ लोगों को इनकी अहंकारी सत्ता के ख़िलाफ़ एकत्र होना होगा।— Arvind Kejriwal (@ArvindKejriwal) March 24, 2023
Welcome back, roses! pic.twitter.com/rnm3idwuT0— Lisa Lucas (@likaluca) March 24, 2023
Water abundance is a direct consequence of soil health. If we Act Now to #SaveSoil through policy reforms, not only can we craft a completely different destiny for the Nation, we can also become a replicable model in reversing water scarcity for the tropical regions of the world.… https://t.co/oOb3QQW6KR— Sadhguru (@SadhguruJV) March 24, 2023
Friday, October 21, 2022
जता गए पनि अबको प्रधानमन्त्री तपाईं नै हो भन्छन् : प्रचण्ड
कात्तिकभित्रै मेलम्चीको पानी काठमाडौं ल्याउने तयारी
पाकिस्तानमा इमरान खानले ५ वर्षसम्म चुनाव लड्न नपाउने
Terrible and misguided take.@DavidSacks - there is no way to negotiate with Putin, etc - liars, murders and war criminals.— Alex Iskold | 2048.vc (@alexiskold) October 16, 2022
Ukraine WANTED peace talks until MASS MURDERS took place.
By your logic we should have negotiated and settled with Nazis?https://t.co/pc2rWixOA7
Absolutely hate how people these days become walking advertisements for their preferred social media site?— rachelg (@RachelGSucks) October 16, 2022
Yes I use Twitter. I don't use anything else. Knowing that about me is not a free license to spend our entire conversation trying to convert me to your app.
We should bring back their outfits— Elon Musk (@elonmusk) October 16, 2022
Me crossing 1k Twitter followers: pic.twitter.com/WUwCD4R9w6— Sriram Ramakrishnan (@Sreezy3000) October 15, 2022
Healthy relationships are created, not found...— Ruben Harris - rub3nharris.eth (@rubenharris) October 16, 2022
Spending time with extended family or long-time friends is like soul food to me.— Jarrid Tingle (@jarridvtingle) October 16, 2022
There’s something uniquely special about spending time with people who have known you for most of your life.
Straight up antisemitism from the former president again. Another day, another example of the right leaning into antisemitism. It is truly scary and shocking. They’re not hiding it. https://t.co/Xr26x7xnFT— Mehdi Hasan (@mehdirhasan) October 16, 2022
The secrets of the best content creators are hiding in plain sight:— Jason Strimpel 🚢 (@jasonstrimpel) October 15, 2022
• Repurpose your content
• Be clear about your value
• Write about 1 idea 1,000 ways
• Give away 99% value, monetize 1% pic.twitter.com/Pjo3kTUAJp
अग्रपथ-१३६— dambar khatiwoda (@dambarkhatiwoda) October 16, 2022
भुसाल र रावललाई टिकट नदिनु ओलीले चानचुने ठाने । तर,याे त कांग्रेसमा देउबाले शेखर काेईराला र गगन थापालाई टिकट नदिएजस्ताे हुन्छ भन्ने बुझेन। हिजाे८ ओैं महाधिवेशनमा ओली पराजित हुँदा निर्वाचित अध्यक्ष खनालले ओलीलाई टिकट न दिएकाे भए के हुन्थ्याे ? https://t.co/f9bAjoXW3U
I died 😂😂 https://t.co/w3nnnhyWrH— Sara Ledterman (@saraledterman) October 16, 2022
Every time I lift weights after being away from it for a little I get reminded of how good it is for your mental clarity, energy, and happiness— Michael Martocci 🚀 SwagUp (@MichaelMartocci) October 15, 2022
Iranian women: "Death to the dictator!"— David Pikuła 🇵🇱🇪🇺🇺🇦 (@David_Pikula) October 16, 2022
Russian men: "Can I rent an apartment, dear Georgian?..."
10 months ago, my boyfriend & I bought a house.— Hayden Flohr (@hayden_flohr) October 16, 2022
8 months ago, we quit our kush jobs.
6 months ago, I hit rock bottom.
4 months ago, I started Twitter.
I woke up next to the LOML & a notification that told me I'm 80% booked out for October.
If one of my companies told me that it had a 25% chance of going out of business, we would drop everything and focus on that. Intelligence analysts say there’s a 25% chance of nuclear war and Biden is in Oregon.— David Sacks (@DavidSacks) October 15, 2022
All these tweets about what you can learn from McKinsey charging $500K a project.— Dhruv Vasishtha (@dvasishtha) October 15, 2022
My brothers and sisters in Christ, they charge those prices to give Fortune 500 execs cover on existing ideas. You thought a 23 year old doing focus groups and surveys is reinventing industries?
433 Eros is second-largest near-Earth object with an elongated shape and a mean diameter of approximately 16.8 kilometers. This is its size compared to New York City— Massimo (@Rainmaker1973) October 16, 2022
[read more: https://t.co/UGvUcWyy8e]
[📹 MetaBallStudios: https://t.co/FUrqCtD65k]pic.twitter.com/DOHes7O8uj
Game over when (not if) Earth gets hit by an object of that size— Elon Musk (@elonmusk) October 16, 2022
Complete Ukrainian victory deters China— Paul Massaro (@apmassaro3) October 16, 2022
Good thread— Elon Musk (@elonmusk) October 16, 2022
It also would've been literally impossible with ranked-choice voting instead of first-past-the-post. Trump won the Republican primary with a plurality of the vote, not a majority. Instant-runoff voting would've led to Cruz or Rubio getting over 50%.— Scott Santens (@scottsantens) October 16, 2022
Plurality voting needs to go. https://t.co/BYMwSvskq1
It’s 11am and so far already today the former Republican president has posted a threat to America’s Jews and the Republican gubernatorial nominee in Arizona has gone on live TV and refused to accept the result of her coming election.— Mehdi Hasan (@mehdirhasan) October 16, 2022
Tell me again how we’re not facing fascism.
Something to hope for:— Ali Partovi (@apartovi) October 15, 2022
An unnamed group of Iran’s protesters have released a charter under “woman, life, liberty,” declaring the future they want…
a secular nation with democracy, separation of church & state, and equality for all. Also no IRGC, and resolve the nuclear issue. https://t.co/Qmb319eYRE
What film have you rewatched the most? 🍿— Snigdha Sur (@snigdhasur) October 16, 2022
I think for me it has to be a tie between kuch kuch hota hai, ddlj, and maybe saathiya. For Hollywood, likely Matilda :)
Russia just accused the US and NATO of not respecting territorial integrity— Samuel Ramani (@SamRamani2) October 16, 2022
The full statement from Vasily Nebenzia. Despite invading Georgia and Ukraine, Russian officials regularly turn the table on the US on the sovereignty issue. Yugoslavia, Libya, Iraq and Syria are frequently cited as examples in Russian discourse. pic.twitter.com/rrcEJaedMG— Samuel Ramani (@SamRamani2) October 16, 2022
Wednesday, March 30, 2022
. Putin’s War Is Complicating India’s Middle Path Among Powers India has been reluctant to criticize Russia, long an important ally. But China’s rise, and its closeness to Vladimir Putin, is creating new pressure. ....... Prime ministers of Japan and Australia, both part of that alliance, held meetings with India’s leaders. Israel announced that its prime minister would arrive soon. ...... India called for an end to hostilities and respect for the territorial integrity of states — an expression of displeasure with Russia’s war without calling it out as an aggressor. ...... an increasing clarity among India’s foreign policy strategists that the country cannot afford to take sides in what is increasingly a multipolar world ......... India’s vulnerabilities — including a slowing economy that is struggling to meet the demands of a growing population and an ill-equipped military stretched on two fronts by territorial disputes with China and Pakistan — are such that it needs allies far and wide ...... “Indian foreign policy decisions are made in Indian national interest, and we are guided by our thinking, our views, our interests.” ..... There was talk of a Western “double game” in pressuring India to stop oil purchases from Russia, just about 1 percent of its overall oil imports, while Europe continued buying Russian oil. ........ Dr. Jaishankar is in a unique position, at once the chief theorist of India’s vision for a path in this complicated new world order and the person responsible for the difficult work of implementing of that vision. ...... During his four decades in India’s foreign service, he held ambassadorial postings in Washington and Beijing before retiring in 2018 as the country’s highest-ranking bureaucrat in the service. He was chosen by Prime Minister Narendra Modi to become foreign minister a year later, but he used the gap to produce a book, “The India Way: Strategies for an Uncertain World,” on the country’s foreign policy doctrine. ...... Indian officials stressed that the meetings with Mr. Wang were aimed at expediting the disengagement of the tens of thousands of troops ........ Russia’s foreign minister, Sergey V. Lavrov, who has listed India and China among countries “who would never accept the global village under the American sheriff,” is expected to arrive in New Delhi later this week. ........ the legacy of decades of dependence on Moscow and mistrust of Washington. ...... India lagged far behind China in opening up its economy, missing out on the early benefits of globalization that turned Beijing into a giant. India’s smaller G.D.P. — about $3 trillion, one-sixth of China’s — and the needs of a population of 1.4 billion have constrained the country’s military spending. ....... “Ultimately, the real security lies in economic growth and, you know, quickly getting to something close to $10 trillion,” said Arvind Panagariya, an economics professor at Columbia University who formerly advised Mr. Modi. “Basically what China did. Who would have taken China seriously until 1990?” ......... For a large part of India’s independent history, its leaders have looked to Moscow not just for weapons’ supplies, but also for political support at the United Nations. Moscow remained a steady ally when Washington repeatedly upset New Delhi, including aiding Pakistan — India’s enemy — and imposing sanctions on India for developing nuclear weapons. .........
the United States is now India’s largest trading partner....... the Taliban, which New Delhi has long seen as a proxy of a Pakistani military that is hand in glove with Beijing. ...... In its quest for “strategic autonomy,” India has been slow in creating distance from Moscow. While India has increased its weapon purchases from the United States from little to about $20 billion in the past decade, it still depends on Russia for about 60 percent of its military equipment. ........ New Delhi joined the Quad alliance despite strong opposition from Russia and China, which have both likened it to a NATO in the east aiming to encircle China. But India has maintained its balancing act, buying weapons from Russia, including a missile defense system, despite threats of U.S. sanctions. ........... There remains a “deep distrust of the U.S.” in the Indian bureaucracy because of a legacy of seeing Washington as patronizing and unreliable. ......... “The U.S. bureaucracy has a lot of ifs and buts before it signs anything, while you have Russia coming and saying, ‘OK, let’s do this co-production’ and it’s done,” Dr. Kartha said. “Unless the U.S. is able to get past its own bureaucracy and its own way of thinking, we will still continue to be dependent on Russia.” .
. General Strike Throws India Into Confusion The two-day strike, involving both public and private sector workers, was called to protest the Modi government’s economic policies, including a privatization plan. ........ The government of Prime Minister Narendra Modi has made a strong pitch for the privatization of some state-owned assets that it characterizes as underperforming. Government-backed financial institutions are protesting a federal move to privatize them and also protesting a bill that is expected to reduce the minimum government holding in public sector banks from 51 percent down to 26 percent. ...... The strikers’ list of 12 demands includes freezing all privatization plans and providing universal social security for workers in the so-called informal sector of the nation’s labor force, like rag pickers, street sweepers and rickshaw drivers. The informal sector makes up an estimated 80 percent of India’s 470 million workers. ....... “They are selling railways, airports, ports, oil industry and gas refineries and our power transmission sector, there is nothing left,” Mr. Saxena said. “Whatever our forefathers have built in this country is being now sold to big corporate and private entrepreneurs.” .
. Defection of Key Ally Gives Opposition the Votes to Oust Imran Khan Without the support of Muttahida Qaumi Movement-Pakistan, the country’s prime minister will lose the simple majority needed to survive Parliament’s no-confidence vote. ....... The announcement from Muttahida Qaumi Movement-Pakistan or M.Q.M.-P, issued a critical blow to Mr. Khan, 69, who has been embroiled in a political crisis for weeks since the country’s powerful military withdrew support for his government and a coalition of opposition parties moved to vote him out of power. ...... “He has no other option, he has to resign,” said Bilawal Bhutto Zardari, chairman of the opposition Pakistan Peoples Party. ........ and denounced his opponents as part of an American-influenced conspiracy to remove him from office. ....... The political crisis comes as Pakistan, with 220 million people, grapples with rising costs of living and double-digit inflation that has sent the prices of basic goods soaring and fueled criticism that Mr. Khan was failing to deliver on his touchstone promises of reviving the economy and creating an Islamist welfare state. ........ The announcement by M.Q.M.-P on Wednesday brought the expected number of votes against Mr. Khan in Parliament to 177 — enough for the opposition to win the simple majority needed in the 342-member National Assembly to oust him. ....... The party’s support also meant that the opposition does not need to secure the votes of Mr. Khan’s party defectors ....... He has also said there is a foreign conspiracy against his government, in retaliation for his independent foreign policy. ....... Mr. Khan’s political fortunes dwindled in recent months after the country’s powerful military withdrew support for his government following differences over key military appointments. ...... He has been critical of the military’s newfound position of “neutrality” in domestic political affairs, and during one political rally said “only an animal is neutral,” stressing that people have to take sides when it is a matter of good and evil. .
وزیر اعظم عمران خان آخری بال تک لڑنے والے کھلاڑی ہیں استعفیٰ نہیں ملے گا میدان لگے گا، دوست بھی دیکھیں گے اور دشمن بھی ۔۔۔— Ch Fawad Hussain (@fawadchaudhry) March 30, 2022
PM Modi makes strong pitch for privatisation, asset monetisation Government has identified 100 assets whose sale could garner ₹2.5-lakh crore .
. Christophe Jaffrelot reviews “The India Way: Strategies for an Uncertain World” by Dr S. Jaishankar . India’s External Affairs Minister Dr S. Jaishankar is an unusual combination of diplomat, politician, and public intellectual. “The India Way” articulates his vision of India’s strategic choices. That he presently serves as India’s foreign minister makes the book an important primary document through which to understand the thinking of an influential architect of the country’s foreign policy. ......... he has a firm grasp on his subject: a career diplomat, he climbed all the ranks of the Ministry of Foreign Affairs, up to the supreme stage of Foreign Secretary – after having been ambassador in countries as important as China and the United States ....... Jaishankar emerges as not simply a spokesperson for Modi’s worldview but a believer ....... that Modi’s ascension to power in 2014 ushered India into a new era of expansion. ....... Firstly, the criteria for power are no longer the same. Access to technology, connectivity, and trade are now paramount. Secondly, all the regions of the world – and in particular the large countries have entered into unbridled competition: the planet is thus governed by an unprecedented multipolar logic. ........ He recommends exploiting the new circumstances in a realpolitik mode that is the polar opposite of what he describes as the “political romanticism” (p. 4) of yesteryear, a phrase implicitly associated with Jawaharlal Nehru and his sense of moralpolitik. ........
“the real obstacle to the rise of India is not any more the barriers of the world, but the dogmas of Delhi”.......... the answer is to apply a purely transactional logic in its relations with a world that everyone is already doing, where there are no allies or friends, but only “frenemies” (p. 39): “In a world of more naked self-interest, nations will do what they have to do with less pretense” (p. 26) and “even partners will always strive for better terms of transactions” (p. 27). ........ “realism” (p. 12), “realpolitik” (p. 5), “hard security” (p. 74), but also “management of differences” (in order to exploit tensions between countries) and “pragmatic settlement” (p. 27). ....... In the “transactional bazaar” (p. 39) that the concert of nations has become, India must maximize its interests, guided unashamedly by the mantra of “advancing [its] national interests by identifying and exploiting opportunities created by global contradictions” (p. 11). ....... India must first establish a favorable balance of power. This requires a rise in economic power and genuine international activism. Economic growth is a categorical imperative, especially since, in Jaishankar’s eyes, India has already “emerged among the major economies of the world…” (p. 78). But the pursuit of all-out diplomacy occupies a more important place in the book. Early on, Jaishankar outlines his diplomatic agenda: “It is time for us to engage America, manage China, cultivate Europe, reassure Russia, bring Japan into play, draw neighbours in, extend the neighbourhood and expand traditional constituencies of support” (p. 10). ......... avoid alliances, exploit conflicts inherent in the multipolar world, and accept the contradictions that result. ......... “If India drove the revived Quad arrangement, it also took membership of the Shanghai Cooperation Organization. A longstanding trilateral with Russia and China now coexists with one involving the US and Japan” (p. 14). ....... if the West does not understand that India does not see it as an ally, but only as a partner – and even then not on all issues -, “much of that arises from an ignorance of its thought processes. That is hardly surprising when much of the West was historically so dismissive of our society. It is revealing that the standard American introduction to Indian strategic thought does not even refer to the Mahabharata, though that epic so deeply influences the average Indian mind” (p. 47). ..........
it is India’s rediscovered nationalism that mandates the preference for multilateralism over alliances........ an ethnic nationalism based on Hindu culture of which the Mahabharata is one of the flagships ........ “As an epic, [the Mahabharata] dwarfs its counterparts in other civilisations, not just in length but in its richness and complexity” .......... thanks to Narendra Modi, whose electoral victory in 2014 was a turning point for the country (p. 77). It was from this point on, according to Jaishankar, that “India set out to deliberately raise its global profile, consciously influence international gatherings and negotiations, purposefully increase high-level contacts and ambitiously invest in building linkages and connectivity” (p. 93). Such nationalism is the foundation of India’s success: “In emotional terms, nationalism obviously contributes to a stronger sense of unity. In political terms, it signifies a greater determination to combat sub-national and supra-national challenges to it. In policy terms, it focuses on how to maximize national capabilities and influence” (p. 114).2 ........... he trusts “the Indian street” more than “Lutyens Delhi” ...... his favourite target, the Indian senior civil service, because, for him, “Mandarins can no longer be impervious to the masses” (p. 110). The populist national rejection of yesterday’s cosmopolitan establishment is also explicit, as for Jaishankar “an elite created in a Western mould has now outlived its relevance” (p. 129). ........ For the moment, India refuses to choose sides and for its Western partners, one of the main lessons of Jaishankar’s book is precisely the low esteem in which he holds the West, the hegemon of yesterday that Asia will be called upon to replace. ......... The objective is to “engage competing powers like the US, China, the EU or Russia at the same time” (p. 15). ....... Jaishankar could have mentioned Indian ‘soft power’, but he does not believe in it. Instead, he attributes India’s bargaining power to its geopolitical position. India’s main asset today is to appear as a key element in the efforts of the West, Japan, Australia, and other Asian countries to counterbalance China – a country that Jaishankar is careful not to name here ........ For Jaishankar, the great powers see only advantages in India’s rise, which must in turn take full measure of this reliance: “If the world has developed stakes in India’s prominence, the latter, in turn, can utilize that sentiment to the fullest” (p. 41). For India, it is a question of offering a point of support to the great powers in the Indo-Pacific which “undeniably is a priority for all of them” (p. 182).3 “By maintaining a strong posture there, India’s value rises…” (p. 185), writes Jaishankar. The main target, in this respect, is none other than the West because, for him, “A stronger partnership with the West will lead to considerable political benefits and economic gains…” (p. 123). .......... “a parallel pursuit of multiple priorities, some of whom could be contradictory” (p. 16). ......... “To the uninitiated or the anachronistic, the pursuit of apparently contradictory approaches may seem baffling. How does one reconcile a Howdy Modi gathering [the Houston rally where Modi campaigned for Trump in 2019] with a Mamallapuram [named after the small town where Modi met with Xi Jinping also in 2019] or a Vladivostok Summit? Or the RIC (Russia-India-China) with JAI (Japan-America-India)? Or the Quad and the SCO (Shanghai Cooperation Organization)? An Iran with the Saudis, or Israel with Palestine? The answer is in the willingness to look beyond dogma and enter the real world of convergences. Think of it as calculus, not just as arithmetic.” (p. 100) ......... A critical assumption here is that India has become so indispensable on an international scene marked by extreme fluidity that its partners will not be offended if it also deals with some of their adversaries. ......... “There is much that India can learn from China. One important lesson is demonstrating global relevance as the surest way of earning the world’s respect” (p. 8). But China shows India the way from another point of view: “China, as the first non-Western power to seriously rise in the post-1945 era, has drawn on its cultural heritage to project its responsibility and shape the narrative. It is but logical that India too should follow suit” (p. 47). ........ Jaishankar argues that China is not in fact hostile to India because it “sees India as inherent to the rise of Asia and the larger rebalancing of the power distribution” (p. 40). ......... “The ability of India and China to work together could determine the Asian century” (p. 133). Thus, when he praises nationalism, Jaishankar adds that it is “represented by the rise of nations like China and India, of a continent like Asia and the consequent rebalancing of the global order” (p. 112). ......... “China is the great disrupter here since unlike Japan, South Korea or the ASEAN, its emergence cannot be accommodated in the old framework. The rise of India will only reinforce this pressure for change” (p. 113). ....... “India should not underestimate the influence that the West still retains” (p. 121). Dismantling Western dominance must occur by attacking the architecture of the international system: ......... “The key of Western durability till now is the set of institutions and practices that it progressively but firmly established in the period of its dominance. There is virtually no sector of human activity that in some form or the other is not shaped or regulated by it. Rules are set for the entire world, as well as for the global commons. These are supported by narratives that serve the West well, while diminishing its competitors. The mix of institutions, regimes, regulations and understandings is such a complex web that creating alternatives is truly a formidable challenge. However, as global power redistribution progresses, this will inevitably happen.” (p. 121) ........... the fact that the fight against climate change is a bone of contention between India and Western countries has rarely been articulated so clearly by an Indian minister. ........
India expects China to show better feelings towards it regarding its membership of the Security Council and the Nuclear Suppliers Group....... the uncompromising defense of Indian interests in a realpolitik mode, underpinned and legitimized by a strong ethnic nationalism; the certainty of attaining a form of power, fueled by the fact that many major countries are courting India; and the corresponding refusal to choose sides in order to maximize one’s transactional advantage. This triptych is generally perceived as a rupture with the past brought about by Narendra Modi, which Jaishankar also affirms. ......... competent stewardship is lacking, growth is at half-mast, and India does not have the means to accomplish its foreign policy ....... For the moment, India refuses to choose sides and for its Western partners, one of the main lessons of Jaishankar’s book is precisely the low esteem in which he holds the West, the hegemon of yesterday that Asia will be called upon to replace. His approach is reminiscent of that of the Pakistani leaders who made themselves indispensable to the West against the USSR, China, and then Al Qaeda by pursuing a double game. Here again, Chinese strategy is the decisive variable: India will have to give up its Asian dream and move closer to the West if China threatens its interests more directly in the future. .
What if Putin Didn’t Miscalculate? . Putin’s miscalculations raise questions about his strategic judgment and mental state. Who, if anyone, is advising him? Has he lost contact with reality? ......... Russia’s sieges of Mariupol and Kharkiv — two heavily Russian-speaking cities that Putin claims to be “liberating” from Ukrainian oppression — resemble what the Nazis did to Warsaw, and what Putin himself did to Grozny. ........ “For God’s sake, this man cannot remain in power.” .......... tends toward the conclusion that the best outcome is one in which Putin finds some face-saving exit: additional Ukrainian territory, a Ukrainian pledge of neutrality, a lifting of some of the sanctions. ....... In the early phases of the war, motivated Chechen fighters wiped out a Russian armored brigade, stunning Moscow. The Russians regrouped and wiped out Grozny from afar, using artillery and air power. ........ Since when has Putin ever played clean? ........ Suppose for a moment that Putin never intended to conquer all of Ukraine: that, from the beginning, his real targets were the energy riches of Ukraine’s east, which contain Europe’s second-largest known reserves of natural gas (after Norway’s). ....... Combine that with Russia’s previous territorial seizures in Crimea (which has huge offshore energy fields) and the eastern provinces of Luhansk and Donetsk (which contain part of an enormous shale-gas field), as well as Putin’s bid to control most or all of Ukraine’s coastline, and the shape of Putin’s ambitions become clear. ........ He’s less interested in reuniting the Russian-speaking world than he is in securing Russia’s energy dominance. ..........
“Under the guise of an invasion, Putin is executing an enormous heist”......... It also makes sense of his strategy of targeting civilians. More than simply a way of compensating for the incompetence of Russian troops, the mass killing of civilians puts immense pressure on Zelensky to agree to the very things Putin has demanded all along: territorial concessions and Ukrainian neutrality. The West will also look for any opportunity to de-escalate, especially as we convince ourselves that a mentally unstable Putin is prepared to use nuclear weapons. ......... Within Russia, the war has already served Putin’s political purposes. Many in the professional middle class — the people most sympathetic to dissidents like Aleksei Navalny — have gone into self-imposed exile. The remnants of a free press have been shuttered, probably for good. To the extent that Russia’s military has embarrassed itself, it is more likely to lead to a well-aimed purge from above than a broad revolution from below. Russia’s new energy riches could eventually help it shake loose the grip of sanctions. .
. Yes, There Is a Clash of Civilizations . the backbone of Huntington’s book “The Clash of Civilizations and the Remaking of World Order,” which was seen as a sweeping interpretive alternative to Francis Fukuyama’s “end of history” thesis, with its vision of liberal democracy as the horizon toward which post-Cold War societies were likely to converge. ......... the Ukraine war as “definitive proof (because we have many others) that the ‘Clash of Civilizations’ theory does not work” — mostly because Huntington had predicted that countries that share Orthodox Christianity would be unlikely to go to war with one another, but instead here we have Putin’s Russia making war, and not for the first time, against a largely Orthodox Christian neighbor, even as he accommodates Muslim constituencies inside Russia. ....... the civilizational model has been a useful framework for understanding events over the last 20 years, but lately we have been moving back to a world of explicitly ideological conflict — one defined by a Western elite preaching a universal gospel of “neoliberalism” and “wokeness,” and various regimes and movements that are trying to resist it. ......... American power didn’t seem to be obviously declining. China was integrating with the Western world and liberalizing to some degree, not charting its own civilizational course. Russia in Putin’s first term seemed to aspire to alliances with America and Europe and to a certain kind of democratic normalcy. .......... China’s one-party meritocracy, Putin’s uncrowned czardom, the post-Arab Spring triumph of dictatorship and monarchy over religious populism in the Middle East, the Hindutva populism transforming Indian democracy — these aren’t just all indistinguishable forms of “autocracy,” but culturally distinctive developments that fit well with Huntington’s typology, his assumption that specific civilizational inheritances would manifest themselves as Western power diminishes, as American might recedes. ......... .
Why Bitcoin Mining Is Great for The Planet | by Jason Deane | Quantum Economics | Mar, 2022 | Medium https://t.co/NWx9mGdC9A— CZ 🔶 Binance (@cz_binance) March 30, 2022
Why Bitcoin Mining Is Great for The Planet Turns out bitcoin mining can solve our energy concerns rather than contribute to them ...... Bitcoin makes no apology for the power it consumes. ....... if we agree — just for the duration of this article if nothing else — that bitcoin’s POW solution will continue for as long as the network itself does and accept that bitcoin itself has value, then there is a no question that using power to create and run it is justified. ....... Not only does bitcoin have the opportunity to radically and completely change the entire global financial system as we know it for the better, it also has the potential to deliver substantial benefits for the environment at the same time. ...... It surprises people to learn that we have enough energy to fulfill all of the planet’s current and future needs. ....... all of this energy comes from one single, clean source — the sun ...... Bitcoin, almost certainly by accident rather than design, provides us with an opportunity we have never had before to accelerate renewable energy networks in a way that is both reliable and cost effective. ....... 0.05% of all power produced on the planet is used for bitcoin mining, and the entire industry produces only 0.08% of global CO2 emissions. ....... miners are “non-rival” consumers of energy. In the vast majority of cases and on an increasing basis, miners use power that is unwanted by others, stranded, wasted, produced in the wrong place or even at the wrong time. ........ truly mobile. They can set up anywhere there is room to stack a few ASICS (Application Specific Integrated Circuits — the specialist equipment used by miners) and a power connection. The only other requirement, internet, can be provided via satellite. ......... Since miners are incentivized to use power that is cheap to maximize margins and can be set up in any location, they are able to absorb these significant pockets of extra power that would otherwise be generated, but lost. .......... Some have offered the analogy of bitcoin miners being the “dung beetles” of the energy world, slipping into places where other industries can’t (or won’t) go, finding pockets of wasted power deep in the crevices of over supplied substations and local networks. ........ connect generators directly to the well caps, use the excess gas to generate electricity and install mining apparatus next to it, literally right there on the site. ...... Not only are bitcoin miners incredibly flexible in terms of where they set up, they are also incredibly flexible about how they operate. .
During the @WorldGovSummit,I attended a session featuring @LatifaMRM in which she highlighted Dubai’s vision to transform its cultural and creative sectors, which contribute more than 4% of the Dubai’s GDP pic.twitter.com/pKLjylOo3P— Hamdan bin Mohammed (@HamdanMohammed) March 30, 2022
❗️South Ossetia will soon take legal steps to join the Russian Federation - President of South Ossetia Bibilov 👍— Yulia Kapoor ॐ ASTROLOGER (@KapoorYulia) March 30, 2022
Continued dialogue with the Crown Prince of Abu Dhabi @MohamedBinZayed. Food security issues were discussed. Thanked for the humanitarian aid to the people of 🇺🇦. Noted the support of 🇦🇪 within the UN.— Володимир Зеленський (@ZelenskyyUa) March 30, 2022
Today we remember the birthday of Arseny Roginsky,— Mikhail Khodorkovsky (English) (@mbk_center) March 30, 2022
one of the @MemorialMoscow founders, a soft-spoken scholar of great intellectual courage, historian and human rights campaigner who made it his mission to find the names of the millions who had been jailed or killed under Stalin pic.twitter.com/Ao8jxH3QsG
BITCOIN’S MONETARY SUPERIORITY IS GUARANTEED BY PHYSICS The properties inherent to Bitcoin are deterministic, not probabilistic, and rely on the natural laws which make up our world...... . One of the least thought of ways that energy is present in our world today, until the advent of proof-of-work in Bitcoin, is how the concept of energy applies to money. ...... The distinct problem that we have today is that the monetary energy in the world is fundamentally distorted to the point where the signal is completely broken. Central banks have routinely bailed out Cantillon insiders and distorted the real cost of capital through interest rate manipulation. This has caused all understanding of monetary value to be lost. ...... Bitcoin combines the first and third law of thermodynamics. ....... Bitcoin isn’t a perfect monetary system. It’s simply the best monetary system the world has ever seen. This is why, on a long enough time scale, the majority of the world’s monetary energy will be stored on the Bitcoin network. It’s simply the natural laws of the universe that make this inevitable. .
BITCOIN IS A SAVINGS ACCOUNT WITH AN AVERAGE GROWTH OF OVER 100% A YEAR The solution to the problem facing billions of people around the world: access to a cheap, secure and reliable savings account. ...... With its fixed supply, open-source software and peer-to-peer (p2p) structure, bitcoin is the global money of the people, by the people, for the people. ........ Bitcoin is a fascinating entity which sits at the intersection of cryptography, economics and money, open-source software and computer science, game theory, politics and law, and more. Because of bitcoin’s multifaceted nature, it means different things to different people. .......... a rational choice by an increasing number of individuals and institutions to benefit from the best savings technology the world has ever seen ........ each bitcoin consists of a hundred million satoshis, meaning you can buy a fraction of a bitcoin. ...... Bitcoin’s meteoric rise fits in with the broader digital revolution which is dematerializing the physical world. ....... it is not the “Myspace of crypto” ....... In its 12-year existence, bitcoin has already eaten a $1 trillion-sized chunk out of the legacy financial system. ......... and consider bitcoin’s total addressable market is in the many hundreds of trillions of dollars, it is only getting started ......... At its core bitcoin is the soundest money ever invented by human civilization. ........ To date, despite having $1 trillion on the network, Bitcoin has not been hacked. ......... on August 16, 2018, in Caracas, Venezuela, a roll of toilet paper cost 2.6 million bolívars (the equivalent of $0.40). In Zimbabwe, in 2009, 100 trillion Zimbabwe dollar bills were introduced, and, at the time, when in a bar, it was not uncommon for the price of the drinks to double by the time of the second round. .......... it has had 99.98% of uptime since going live in 2009 and is accessible 24/7 and 365 days per year. Unlike traditional banking, bitcoin does not have inconvenient opening times as it does not sleep. ......... the broad measure of the stock of dollars, known as the M2 money supply, rose from $15.34 trillion at the start of 2020 to $18.72 trillion in September 2020. The increase of $3.38 trillion equals 18% of the total supply of dollars. ......... nearly one in five dollars was created in 2020. ...... at a stroke of a computer key, every other dollar in existence had an 18% reduction in purchasing power. ......... since inception, bitcoin’s volatility trends to the upside. Consequently, the longer people have held a portion of their savings in bitcoin the more it has increased in purchasing power. ............ No other altcoin can compete with bitcoin’s superior monetary properties, established market cap, network effects, mining and hardware infrastructure, ATMs and so forth. ....... increased transaction throughput and speed can be achieved on the second layer of Bitcoin, such as the Lightning Network. This way the decentralization of bitcoin’s base layer is not compromised. ........ I would recommend looking no further than bitcoin. ........ “Bitcoin is as green as an electric car. Nothing about Bitcoin requires emissions. It will take whatever electricity you feed it. If the world goes green, so does Bitcoin.” ........ bitcoin enables a deflationary (meaning a reduction in global prices) economic system which would allow us to break out of the current, “endless growth” economic model. ........ With CBDCs, central banks will be able to offer digital dollars, pounds or yuan directly to citizens. Some people think this will threaten bitcoin’s rise, the short answer is “no” as they will still be a form of unsound money — meaning endless units can be printed — unlike bitcoin’s fixed supply of 21 million. ........... People have been saying this since the bitcoin price was $1, $100, $1,000 and $10,000 per coin and the same will be said when the price is $100,000, $1 million and beyond. .......... Global bitcoin adoption currently stands at around 2% of the world’s population and bitcoin solves a problem facing billions of people around the world — that of unsound money and the lack of a cheap, secure and reliable savings account. ......... Bitcoin’s market cap is $1 trillion and its addressable market is in the hundreds of trillions. ....... bitcoin can already be seen to be eating into gold, owing to its superior monetary technology ........
bitcoin is on track to becoming the primary store of value for global citizens.......... bitcoin’s fixed supply of 21 million coins, decentralized nature and unstoppable code make it the soundest money invented by human civilization. ........ Currently, people around the world are working increasingly harder for ever-devaluing national currencies. Bitcoin’s growth at over 100% per year for the last 10 years offers global citizens the choice to store their wealth in the latter and not the former. .
Read this story. And don’t ever tell me that it’s only Putin’s war. https://t.co/7xbOmslfu3— Oleksiy Sorokin (@mrsorokaa) March 30, 2022
The U.S. is not “behind China on crypto.” CBDCs are not crypto – they’re a government surveillance tool. Crypto creates freedom, it doesn’t destroy it.— Tom Emmer (@RepTomEmmer) March 30, 2022
💥 Bitfinex CTO: "We're really close to multiple nations adopting #bitcoin" 👀— Bitcoin Magazine (@BitcoinMagazine) March 30, 2022
‘Russian soldiers raped me as my terrified son cried’ The woman whose case could be the first heard in a war crimes investigation tells Catherine Philp in Kyiv what happened ........ Natalya speaks in a hushed voice, fearful that Oleksii, her young son, will wake and learn the terrible truth. Of why they had to flee the little house by the pine forest that his father built for them. Of what the men with guns did to her while the boy sat sobbing in the darkened boiler room. Of who the man was lying lifeless in their front yard as they left home for the last time. ...... “He doesn’t understand much,” she explains down the phone line from the western city where mother and son fled three weeks ago from their village near Kyiv. “In the playground here, he goes up to people and says that we had to leave our house because there was war .
Am I Too Late for Bitcoin? . it is still very, very early. ........ Those who deeply understand Bitcoin tend to view its potential as at least that of gold (~$13T) but theoretically more like $200T (about half the world’s total value). ....... the ~$100T in total value sitting in the world’s various currencies. ....... Since it’s unprecedented for a store of value commodity to attain a value greater than gold, it’s simply uncharted territory. ....... There are endless examples of people lamenting how late they were in 2011 or 2013 or 2016, when Bitcoin’s price was $5, $100, and $600, respectively. ............ latecomers to the California gold rush would have been disappointed to find the rich gold fields already spoken for, and might have settled instead for a few hundred acres of ranch land now worth a fortune. ........ To match gold’s valuation, Bitcoin still has to grow 26x. ........... And if the high-end outcome ends up being the case, a full 99.7% of Bitcoin’s total wealth generation remains ahead. This would mean Bitcoin still has 400x to grow, dwarfing the gold milestone. ........ 2.2B people in the world have at least $10k in net worth ........ impoverished communities will also use Bitcoin as a store of value, and will arguably derive greater utility from it as a result of marginal access to traditional banking infrastructure as “low value” bank customers. ........ Significant believers .... most of the people who count themselves as believers in Bitcoin, including most of Bitcoin Twitter, are somewhere in this group. ....... ~820k addresses have at least 1 Bitcoin. ........ 125k maximalists. ..... it seems to me that there are maybe 10k actively engaged Bitcoin maximalists on Twitter, the primary home of maximalist communication . ........ Bitcoin is on a path to become the dominant store of value and preferred money for the world .
The Bullish Case for Bitcoin . Never in the history of the world had it been possible to transfer value between distant peoples without relying on a trusted intermediary, such as a bank or government. ........ The ramifications of the creation of Bitcoin are so profound for both economics and computer science that Nakamoto should rightly be the first person to qualify for both a Nobel prize in Economics and the Turing award. ....... By design, only 21 million bitcoins will ever be mined and most of these already have been — approximately 16.8 million bitcoins have been mined at the time of writing. Every four years the number of bitcoins produced by mining halves and the production of new bitcoins will end completely by the year 2140. .......... An apple grower may desire trade with a fisherman, for example, but if the fisherman does not desire apples at the same moment, the trade will not take place. ......... Achieving a Nash Equilibrium for a store of value is a major boon to any society, as it greatly facilitates trade and the division of labor, paving the way for the advent of civilization. .......... the 19th century was the first time when most of the world converged on a single store of value — gold — and this period saw the greatest explosion of trade in the history of the world .......... Bitcoins are the most portable store of value ever used by man. ....... The attribute that most clearly distinguishes Bitcoin from fiat currencies and gold is its predetermined scarcity. By design, at most 21 million bitcoins can ever be created. ........ Nation-states have shown a persistent proclivity to inflate their money supply to solve short-term political problems. ........ No monetary good has a history as long and storied as gold, which has been valued for as long as human civilization has existed. Coins minted in the distant days of antiquity still maintain significant value today. ....... The use of inflation as an insidious means of invisibly taxing a citizenry has been a temptation that few states in history have been able to resist. ....... If Bitcoin exists for 20 years, there will be near-universal confidence that it will be available forever, much as people believe the Internet is a permanent feature of the modern world. ......... every transaction transmitted on the Bitcoin network is forever recorded on a public blockchain. The historical record of transactions allows for later forensic analysis to identify the source of a flow of funds. ....... A classic example of regulated money transmission is capital controls. A wealthy millionaire, for instance, may find it very hard to transfer their wealth to a new domicile if they wish to flee an oppressive regime. ............ Many have criticized Bitcoin as being an unsuitable money because its price has been too volatile to be suitable as a medium of exchange. This puts the cart before the horse, however. Money has always evolved in stages, with the store of value role preceding the medium of exchange role. ......... In the earliest days of Bitcoin, many people did not appreciate the huge opportunity cost of using bitcoins as a medium of exchange, rather than as an incipient store of value. The famous story of a man trading 10,000 bitcoins (worth approximately $94 million at the time of this article’s writing) for two pizzas illustrates this confusion. .......... The monetary premium of silver disappeared almost entirely in the late 19th century when governments across the world largely abandoned it as money in favor of gold. ....... Money acts as the foundation for all trade and savings, so the adoption of a superior form of money has tremendous multiplicative benefits to wealth creation for all members of a society. ......... $0–$1 (2009–March 2011): The first hype cycle in the Bitcoin market was dominated by cryptographers, computer scientists and cypherpunks who were already primed to understand the importance of Satoshi Nakamoto’s groundbreaking invention and who were pioneers in establishing that the Bitcoin protocol was free of technical flaws. ......... $1–$30 (March 2011–July 2011): The second cycle attracted both early adopters of new technology and a steady stream of ideologically motivated investors who were dazzled by the potential of a stateless money. .......... $250–$1100 (April 2013–December 2013): The third hype cycle saw the entrance of early retail and institutional investors who were willing to brave the horrendously complicated and risky liquidity channels from which bitcoins could be bought. ....... In the first hype cycle, there were no exchanges available, and acquisition of bitcoins was primarily through mining or by direct exchange with someone who had already mined bitcoins. In the second hype cycle, rudimentary exchanges became available, but obtaining and securing bitcoins from these exchanges remained too complex for all but the most technologically savvy investors. Even in the third hype cycle, significant hurdles remained for investors transferring money to MtGox to acquire bitcoins. ......... By the time the fourth hype cycle began in 2016 it was relatively easy for retail investors to buy bitcoins and secure them. .......... $1100–$19600? (2014–?): ...... The entrance of the first state to officially add bitcoins to their reserves will likely trigger a stampede for others to do so. ........ The states that are the earliest in adopting Bitcoin would see the largest benefit to their balance sheets if Bitcoin ultimately became a global reserve currency. ............ There is a great irony that the US is currently one of the nations most open in its regulatory position toward Bitcoin, while China and Russia are the most hostile. The US risks the greatest downside to its geopolitical position if Bitcoin were to supplant the dollar as the world’s reserve currency. In the 1960s, Charle de Gaulle criticized the “exorbitant privilege” the US enjoyed from the international monetary order it crafted with the Bretton Woods agreement of 1944. ......... the banking industry and the US Federal Reserve are finally having their first inkling of the existential threat Bitcoin poses to US monetary policy if it were to become a global reserve currency ........ There is another danger, perhaps even more serious from the point of view of the central banks and regulators:
bitcoin might not crash. If the speculative fervor in the cryptocurrency is merely the precursor to it being widely used as an alternative to the dollar, it will threaten the central banks’ monopoly on money. .......... Not only does a sovereign money enjoy the advantage of a constant source of demand, by way of taxes being remittable only in it, but competing monetary goods are taxed whenever they are exchanged at an appreciated value. This latter kind of taxation creates significant friction to using a store of value as a medium of exchange. .......... the replacement of the Zimbabwe dollar with the US dollar. ....... The ability to easily transmit bitcoins across borders and absence of a need for a banking system make Bitcoin an ideal monetary good to acquire for those afflicted by hyperinflation. ........ When a nation’s money is abandoned and replaced by Bitcoin, Bitcoin will have transitioned from being a store of value in that society to a generally accepted medium of exchange. ......... As Bitcoin surpasses the market capitalization of gold, its volatility will decrease to a level that will make it suitable as a widely used medium of exchange. ......... once the opportunity cost of trading bitcoins is at a level at which it is suitable as a medium of exchange, most trades will not occur on the Bitcoin network itself but on “second layer” networks with much lower fees. Second layer networks, such as the Lightning network, provide the modern equivalent of the promissory notes that were used to transfer titles for gold in the 19th century............ The development of the Lightning network is a profoundly important technical innovation in Bitcoin’s history and its value will become apparent as it is developed and adopted in the coming years. ............ Binance, a prominent exchange that started in China, moved to Japan after the Chinese government halted its operations in China. ........ National governments are also wary of smothering a nascent industry that may prove as consequential as the Internet, thereby ceding a tremendous competitive advantage to other nations. ......... As a non-sovereign monetary good, it is possible that at some stage in the future Bitcoin will become a global money much like gold during the classical gold standard of the 19th century. ........ the brilliant cryptographer Hal Finney, the recipient of the first bitcoins sent by Nakamoto ...... [I]magine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million. ............ It is more likely, and unfortunate, that tin-pot dictatorships and kleptocracies will be the first nations to enter the Bitcoin market. ........... Bitcoin rose like a phoenix from the ashes of the 2008 global financial catastrophe — a catastrophe that was precipitated by the policies of central banks like the Federal Reserve. ........ A global, non-inflationary reserve currency will force nation-states to alter their primary funding mechanism from inflation to direct taxation, which is far less politically palatable. States will shrink in size commensurate to the political pain of transitioning to taxation as their exclusive means of funding. .
The two types of Altcoins, an investor's view The vast majority of alt-coins are Degenerators. Their price chart has a measurable half-life, like radioactive decay. Plotted on a log chart, it's a straight line down. ....... Oscillators are proving store of value (SoV) properties. To qualify they need to keep up with BTCUSD gains. To find them, plot their BTC value. It must oscillate around a horizontal line, for at least one full bull-bear cycle (around 4yrs). More cycles are better. ....... Let me bring up this Oscillator. It's DOGE, a coin that was created as a joke, it has had no active development for years. It's a humour fork of Bitcoin offering no technical innovation.