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Showing posts from January, 2022

NFT Philanthropy

 Wilson said that NFT philanthropy started taking off about six months ago, noting that The Giving Block has already seen over $12 million in cryptocurrency, or 30% of its donation volume, come from NFT-giving initiatives: “In most cases, creators are selling their NFTs and then have a portion (or all) of the proceeds donated to their favorite crypto-friendly charity. Since most NFTs are sold for ETH, many of the NFT-related donations have also come in the form of Ethereum.” ~ Alex Wilson, co-founder of The Giving Block International Women's Day “On March 8, 2022, which is International Women’s Day, we will have an NFT gallery where people can purchase artwork NFTs with their tokens. Proceeds from each sale will be donated to participating charities on our platform. For instance, a minimum of 25% of NFT sales will be given to The State of Women Institute, a 501 (c)(3) nonprofit organization championing the stories and issues faced by young women and girls.” “The main thing we want ...

Why Bank Negara and EPF should buy Bitcoin

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Hard Money The antidote to this plague of easy money – money that can be created at will by a monopolistic organisation (the central bank) at the behest of the government – is to switch to a hard money standard. Hard money is money whose supply is capped and can’t be manipulated by the powers that be – or anyone for that matter.  For millennia, gold served as hard money. Many ancient civilisations – from the Egyptians, the Chinese, the Indians and the Romans lusted over it, hogged it, went to war for it and draped their kings and deities with it. Much more recently, and even when government-issued money was first devised, it was still tied to the gold reserves of the country. A nation couldn’t issue paper money unless these were backed one to one to their gold reserves. They were on the gold standard. Even today, where national currencies have been cleaved away from the gold standard, and where governments are free to print money wantonly and inflate its value away, central banks s...

From cash to crypto: The Cantillon effect vs. the Nakamoto effect

Our modern monetary system, which is built on the generation of money primarily through bank-issued debt with interest, transfers wealth from the middle to the top, resulting in an unstable monetary system and a society in which the "future doesn't matter." Between 1970 and 2010, the International Monetary Fund reported 425 systemic banking, monetary and debt crises, an average of 10 each year.  Monopolistic state money is a fragile and unequal system, while countries with many currencies have historically experienced greater stability and equality.  Understanding the Cantillon effect provides that inflation can be viewed as a government-imposed non-legislative and regressive tax on citizens' purchasing power. Bitcoin as an investment separates the creation of new money from politics, which makes it far more equitable. How to protect yourself from the Cantillon effect? Protecting yourself from the Cantillon effect necessitates avoiding the unfair fiat currency systems...