The serious increase in the US national debt to $35 trillion, or $110,000 per American, raises concerns.
Economic forecasts suggest the debt could rise to
In his latest article, Balaji Srivanasan raises important questions about the future of American finances.
Let's delve into the key points...
Debt levels comparable to the current ones were last recorded during World War II.
After the war, the debt fell to 25% of GDP in the 1970s, but the financial crisis of 2008 raised it to 52% of GDP
COVID-19 triggered financial stimuli of more than $5 trillion, significantly increasing the national debt.
The cost of servicing this debt has doubled since 2021, exceeding$800 billion and even surpassing the defense budget.
The dollar's share in global trade has dropped from 70% to 60% over the last 25 years.
China has reduced its investments in US government bonds from $1.3 trillion to $0.8 trillion.
These two factors are cited as some of the main reasons for the fall of Bitcoin (BTC). You can readmore about this in a separate post.
Including social security and Medicare, the total volume of US obligations reaches $175 trillion.
In comparison, the total value of leading tech companies is only $15.7 trillion🕯
Arguably, the most important figure is $175.3 trillion — this is the real debt of the USA, taking all obligations into account.
This figure is from the US government's financial report of February 2024 and continues to grow
As Srivanasan points out, addressing this issue requires unconventional approaches and innovations.
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The situation with the Hamster Combat project has reached a boiling point.
Initially, everything was going well and energetically: Eduard allocated $150K for advertising, and the project quickly gained popularity thanks to the success of Notcoin.
However, as investments grew and advertisers got involved, the atmosphere changed, and relationships with partners became strained.
The most troubling aspect is the breach of agreements with the influencers who initially supported the project.
The founders promised a 100x return upon the token's listing, but now influencers
This breach of trust raises serious questions about the future of the project and its creators.
Influencers like Trade Soul and Nikita Anufriev have already expressed doubts about whether the listing will happen at all.
The developers continue to introduce new conditions for receiving the airdrop, which may lead to disappointment for many users.
Hamster Combat, once promising big profits, is now increasingly associated with deception and scandals.
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In a recent Goldman Sachs report on AI investments, analysts have raised crucial questions about the future of this technology.
Let’s dive into the thoughts of three analysts, K. Rangan, J. Covello, and D. Acemoglu.
Kash Rangan believes that despite substantial investments, in terms of percentage of their total revenue, big tech companies are not making excessive capex commitments.
He is confident that the next 12-18 months will be critical for finding a "killer AI feature" that demonstrates the real value of general AI to end-users.
Otherwise, questions might arise about the feasibility of continuing investments in projects with negative ROI.
Jim Covello highlights that high-tech hype, fueled by the fear of missing out (FOMO), is normal.
However, the current level of capital investments and the monopoly positions of companies like ASML and Nvidia are something new.
Covello predicts that when competitors and cloud providers start producing their chips, costs will decrease. This adjustment will make the price-value ratio for end-users more reasonable.
Daron Acemoglu points out that even if AI can improve 10-20% of work by tens of percent in terms of cost efficiency.
It might only lead to a mere 0.5% annual GDP growth over the next decade.
He asserts that reaching AGI — artificial general intelligence with real reasoning and autonomy — is still far off, and in the realm of science, AI is more likely to augment researchers rather than replace them.
The scientific and technological advancement in AI, despite its potential, is confronted with the realities of massive investments and uncertain returns.
As the world experiments with AI, whether it will bring long-term benefits or turn out to be another futile investment remains an open question.
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In the digital era, manipulating public opinion has become a new form of communication.
The desire to influence and control has become possible due to the widespread adoption of social media
Sander van der Linden, a social psychology professor from Cambridge, identifies six main strategies used to manipulate on social networks.
Instead of substantive debates, it's enough to sow doubt about the credibility of a source.
Such actions shift the focus from the facts to the legitimacy of their sources⚠️
On the internet, it's easy to pretend to be an expert. Users tend to trust those who appear authoritative.
Thus, a professionally designed profile or a significant following can lend weight to a person’s words🥇
Social networks deepen political and social division, intensifying conflicts and decreasing the chances of uniting society.
Manipulators use strong emotions to attract attention and strengthen their arguments.
They deliberately provoke,
This method includes provocations, personal attacks, and the spread of misinformation.
The goal is to confuse or anger the interlocutor😡
They have high viral appeal online, often supported by fake experts and appeals to emotion, making them a powerful tool of manipulation.
Remember: in a world where every click can be manipulated, critical thinking is your best ally
We must learn to recognize hidden manipulations to protect ourselves from toxic influences.
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August 20, 2024, marks an exciting event — the listing date for DOGS, a project that has already become legendary within the #TON ecosystem!
But that's not all...
DOGS launched in early 2024 and quickly captured the community's attention with its innovative ideas.
Designed to enhance interaction in the world of decentralized applications, DOGS introduced a range of unique features that set it apart from other tokens
🌟 Today is the last day for the free DOGS giveaway!
This is your chance to be part of the revolution in the TON ecosystem and get your $DOGS absolutely free.
Don't miss the opportunity to add these valuable tokens to your crypto portfolio.
👉 Claim your $DOGS right now!
Get ready for takeoff!
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Recently, reports have surfaced online suggesting that major tech companies like Google and Meta may have been involved in manipulating information related to an assassination attempt on Donald Trump.
It is reported that Google was concealing search queries related to the Trump assassination attempt.
Its chatbot, Gemini, avoided discussing the topic, citing contradictions with the company's information policy on election-related matters.
Meanwhile, Meta labeled photos related to the incident as "altered" or "fabricated," referring to conclusions by "independent fact-checkers"
It was also noted that Meta's AI Assistant outright denied the existence of an assassination attempt.
Fact-checking, a relatively new tool in journalism, is often used to analyze and interpret contentious topics.
However, in some cases, it may be employed to soften the public's perception of an event.
After these reports spread, media outlets like the Associated Press began publishing so-called
In response to the accusations:
However, such explanations may raise further questions, given the scale and influence these companies have on shaping public opinion.
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In recent years, Wikipedia, once a decentralized platform for the free exchange of knowledge, has undergone significant changes.
The question arises: Has Wikipedia remained a free encyclopedia, or has its purpose shifted?
Key Changes in Wikimedia Foundation's Strategy:
In 2016, the Wikimedia Foundation established an endowment fund aimed at long-term funding for its projects.
The fund was created with the support of Tides Foundation, known for its backing of projects that promote social change.
Significant donations, including substantial contributions from Google
This set the stage for projects aimed at promoting social justice.
The strategy, championed by Katherine Maher, emphasized inclusion and equity, becoming a foundational principle in the work of the Wikimedia Foundation.
In 2020, for example, the WikiProject Black Lives Matter was launched, focusing on creating and improving content related to topics like racism and police brutality.
In 2019, a scandal erupted within Wikipedia related to the ban of administrator Fram.
This was the result of growing tension between the decentralized community of editors and the centralized management of the Wikimedia Foundation
The community advocated for openness and self-governance, while the foundation increasingly
Today, the Wikimedia Foundation plays an increasingly significant role on the international stage, actively participating in the development of digital regulations and influencing global policy.
However, despite all the changes, the question remains: Can Wikipedia maintain a balance between providing free access to knowledge and its new role?
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Last month, the cryptocurrency market continued to demonstrate its volatility and dynamic development.
In the new Binance Research report, key events and trends that significantly impacted the market in July are highlighted.
July 2024 brought a 6.1% growth in the cryptocurrency market, driven by events such as the SEC's approval of nine spot ETH ETFs and Germany's sale of 50,000 BTC.
However, concerns remain regarding Mt. Gox repayments and the potential BTC sell-off by the U.S. government.
Not all cryptocurrencies performed positively:
AVAX and ETH saw declines of 1.2% and 1.6% respectively, while TON dropped by 12.2%.
Total Value Locked (TVL) in DeFi grew by 3.5%, with the highest growth seen in CORE, Scroll, and Mantle.
Symbiotic's TVL surged by 283%, driven by partnerships with major protocols and interest in restaking.
The NFT market in July declined by 7.14%, with total sales reaching $430 million.
DMarket led the market with $16.2 million in sales.
While Solana collections showed volume growth, major Ethereum collections declined.
August 2024 will see significant token unlocks that could impact the cryptocurrency market.
Among the largest token unlocks are:
These unlocks represent significant amounts that could affect the liquidity and pricing of the respective tokens.
Despite positive news such as the launch of spot ETH ETFs and the growth of the Solana ecosystem, there are also concerning factors that may impact the market in the future.
Ongoing attention to Mt. Gox repayments and U.S. government actions indicate that market volatility is likely to continue
It is important to stay informed of new trends and be prepared for changes that could significantly influence the market in the coming months.
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Discussions around volatility and price swings in cryptocurrency circles never seem to die down, but one fundamental cause often remains overlooked — liquidity fragmentation.
This hidden phenomenon can become a catalyst for significant price discrepancies and sharp market movements.
Let's dive into how liquidity fragmentation impacts markets and what it might lead to.
Liquidity fragmentation occurs when trading volumes and liquidity are unevenly distributed across various exchanges. As a result, different platforms can exhibit varying prices for the same asset.
Although these discrepancies have lessened over time, they still occur, particularly on smaller, less liquid exchanges and during sharp market events
A recent market sell-off on August 5th served as a clear example:
BTC prices on Binance.US😀 diverged from those on more liquid platforms. The situation was even more dramatic for less liquid altcoins.
Binance.US, whose trading volumes and liquidity have plummeted since the SEC lawsuit in June 2023, became the epicenter of these price discrepancies.
Price slippage — the difference between the expected price of an order and its actual execution price—serves as one of the best indicators of liquidity. During market sell-offs, this slippage tends to increase, making it harder to execute orders at the desired price.
During the August 5th sell-off, slippage increased across most exchanges, but the most significant spike was observed in
Surprisingly, even stablecoin-quoted pairs like USDT and USDC on BitMEX and Binance US showed a significant increase in slippage, despite their reputation as the most liquid pairs on crypto exchanges.
With each passing year, liquidity in cryptocurrency markets is increasingly concentrated on weekdays. This trend has intensified with the launch of spot ETFs in the United States
Unlike traditional markets, which close on weekends, crypto markets operate 24/7, leading to heightened uncertainty over the weekends, especially if a sell-off begins on a Friday.
In recent years, weekend volatility has generally decreased, but the increased concentration of trading during weekdays raises the risk of sharp price swings on weekends during market stress.
For instance, last week, Bitcoin🪙 dropped by 14% between Monday and Friday.
Liquidity fragmentation is more than just a technical term; it's a real threat capable of causing significant market disruptions.
However, despite the challenges, crypto platforms continue to adapt, investing in infrastructure and reducing the cost of arbitrage opportunities.
During the recent sell-off, BTC-USD and BTC-USDT trades reached record levels on Bybit, and this trend is expected to continue developing.
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Hegemony refers to the dominance of one country or group of countries over others in political, economic, or cultural spheres.
In the context of the global economy, hegemony means that one country plays a leading role, exerting significant influence over global markets🔝
By examining the distribution of global stock market capitalization across countries, we can see how the global economic landscape has changed over the past century.
The major countries leading in stock market capitalization were distributed as follows:
Thus, before World War I, the world was truly multipolar.
The 1920s marked a turning point. The U.S. began to pull ahead, and its share of global stock market capitalization started to rise rapidly.
Today, the U.S. accounts for 61% of global capitalization, making it the undisputed economic leader.
In comparison, no other country even has a double-digit share in this metric.
All other countries are mere "dwarfs" compared to the U.S., and this includes even large economies like China.
It's also interesting to note Russia's history. At the beginning of the 20th century, Russia held 6% of global stock market capitalization, but since then, its share has significantly decreased.
Today, Russia is almost invisible on this chart, highlighting the substantial decline in its role in the global economic arena over the past century
This chart is not just an illustration of the current state of affairs but a reminder of how the global economy has changed and will continue to evolve.
The U.S. has undoubtedly become the main player on the world stage, and there are currently no signs that its dominance will be seriously challenged in the near future.
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Fanton Fantasy has successfully completed a $1 million funding round, attracting the attention of leading investment funds such as Animoca Brands, Delphi Digital, Kenetic Capital, and Hashkey Group.
This raises the question: what makes this project so appealing to the industry's top players?
The Fanton Fantasy project, which has already secured support from:
Fanton Fantasy offers a unique combination of fantasy sports and blockchain technology, making it a true pioneer in this field.
Its innovative approach and ambitious goals have not gone unnoticed in the market.
Yat Siu, co-founder of Animoca Brands, commented:
"We are pleased to support Fanton Fantasy Football and its innovative approach to integrating fantasy sports with blockchain technology in the TON ecosystem💎
This strategic investment aligns perfectly with our vision of mass adoption of the Web3 gaming experience."
@fanton_nft_en
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Global markets were shaken by economic events once again: on August 5th, after an unexpected rate hike by the Bank of Japan, global risk assets experienced a sharp drop.
According to Jiang Jinze, Chairman of MuseLabs, this is not a typical crisis, and with the US rate cut expected in September,
The yen surged by 12% in a single day, marking the most significant move since 1987.
The abrupt rate hike by the Bank of Japan caught many market participants off guard, triggering panic across financial markets, including cryptocurrencies
This panic affected all markets, from stocks to currencies.
However, short-term leveraged trades were particularly vulnerable.
In the long term, the US rate cut scheduled for September could lead to a rise in crypto assets in the fourth quarter.
A rate cut might boost interest in risk assets, such as cryptocurrencies, especially if economic data does not point to a US recession.
Ethereum and Bitcoin might follow last year’s scenario, where interest in cryptocurrencies surged around the launch of ETFs.
However, this time, selling pressure and fund unlocking could limit Ethereum's growth
3% - 5% - the potential growth in crypto assets in the fourth quarter if the US rate cut goes ahead and economic indicators remain stable.
615 institutional investors already hold IBIT, indicating a high level of interest in crypto ETFs.
Keep a close eye on the US rate cut expected in September.
If it happens, it could act as a catalyst for a new crypto market rally, especially following the stabilization after August’s volatility.
As we approach the fourth quarter, all signs suggest that cryptocurrencies might get a second chance at growth, provided the US economic situation remains stable.
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