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Discrimination comes in all shades and money underlines most of them

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Black Lives matter

What to expect?

Systemic problems need to be fixed by fixing the system

Remove the barriers to entry

Follow the money

Bitcoin as an answer to one of the issues that addresses discrimination

Note: This is a 90% non-crypto post in support of what is going on in the world right now! If you are able to, donate to the Black Lives Matter. We did.

Disclaimer:  We do not have any agenda behind this article – we think like there is too much to be done here and what we present in this article is only a few things that might become part of the solution.

Can you fix a computer issue by shooting the monitor?

That is my nerd way of saying that these protests will die down, and we will all go back to our normalcy like nothing had ever happened. 

Why?

Because, no matter how many monitors we destroy, the problem with the computer, the core processor, will not be fixed. Similarly, it doesn’t matter how many angry protests we demonstrate, the system will not change.  

For the system to change, you have to change the system.

How much do you make? 

Let’s start with a simple issue of ‘disclosing’ salary information.

For most part, many organizations prohibit you from disclosing your salary.  You could get fired if you ask or tell people how much you make.  This seemingly harmless rule has been in effect under the disguise of ‘protecting privacy’.  

Whether it protects privacy or not, it does mask the inequality that exists today at many organizations that are supposed to be the role models (or claim to be such).

Why is it important?

I have seen this in real life, a person of color with a Master’s degree and 6 years experience made $55,000 and the person from a privileged class with only a bachelor’s degree and 1 year experience made $75,000. [I must confess here that I do not know what this individual’s earlier salary was].

By the time, this privileged individual gains 6 years experience (and adds a Masters to his/her resume) he/she will make well over $120,000+ while the person of color will take another 10 years to double the salary and still not reach the same level.

Here is what will happen in the interim.

The family expenses will grow exponentially keeping the person of color’s standard of living worse than what it was when the individual was making $55,000 as a single person. 

Some might argue that people have a choice and they can always leave and find a better opportunity. Sure. The next employer may bump your salary but that will depend on what you made in your last job which was substantially lower than the privileged class.

Yet others may argue that the person’s negotiation skills were poor to have accepted that kind of salary.

Here is the crux of the problem.  

The person of color may have gone to a community college that costs much less compared to an Ivy League or other prestigious university that the person of privilege might have attended. The expectation bias plays out from the get-go. 

When you don’t get paid on par – you cannot send your kids to those prestigious places, that is how you keep ‘certain’ people at bay from ever joining the elite.

This vicious cycle continues generation after generation as people of color on a low salary might end up sending their kids to a community college which keeps them in the circle of poverty while the privileged class enjoys the perks of Ivy League colleges of higher salaries and better connections.

For those of you who may not know this, most companies do not even interview at ‘certain’ (read: colored) colleges.  You can verify this information about the companies that are putting out slogans about ‘BLM’.   

A simple systemic change could fix this

Why not make it mandatory to disclose the range of salary for each level?

This will help set expectations for all classes, whether privileged or not to hope to achieve a decent part of the scale on the range and might help curb the disparity among the educated class.  

This will also help people to strive to do better and in turn help their respective communities. When a person of color is plagued with poverty, they cannot help others, however, if they are on the equal footing with any other educated person, they stand a chance to pull others from the clutches of poverty.

This simple change in one aspect of our society could end a type of discrimination that is prevalent TODAY.

Follow the money

At this point, it is a known fact that persons of color get jailed more often than the privileged groups. For those who prefer facts, here is one stat for you: “Black people make up 13% of the U.S. population but 33% of the prison and jail population, while Latinos make up 18% of the U.S. population and 23% of the prison population.”

Instead of protesting this discrimination, what if we start asking a different question, for example:

What incentive does the government have in putting people in prison?

The answer is a lot. But not for the government.

Prisons are rapidly getting privatized and we must ask – is there a direct connection between the prisons getting privatized to increased incarcerations?  

Over the past four decades, imprisonment in the United States has increased explosively, spurred by criminal laws that impose steep sentences and curtail the opportunity to earn probation and parole,” this is according to the ACLU.

When did private prisons come into existence? 1980, exactly four decades ago.

That is how you can explain the overall increase in prison population by 9% while the private prison population grew by 47% in the same period.

Take a look at these stats: “Six states have more than doubled the number of individuals in private prisons since 2000. Arizona had the largest increase, holding 479 percent more people in private prisons in 2016 than in 2000, followed by Indiana (296 percent), Ohio (226 percent), Florida (211 percent), Georgia (113 percent), and Tennessee (112 percent).”

Because most people of color are systemically victimized by poverty, they cannot fight the system and they simply succumb to the punishment without realizing that they may be just ‘cash cows’ in a system that is plagued by ‘capitalism above all’ mindset.

If people start asking for the accountability of money that flows in the system and who the real beneficiaries are then things will start becoming more clearer.

The same study from ACLU also finds that “mass incarceration provides a gigantic windfall for one special interest group — the private prison industry — even as current incarceration levels harm the country as a whole.”

When people open their eyes for what is really going on, they ask the right questions – the questions that have potential for change.

People are in fact waking up to this reality and more needs to be done on this front.

Why is change still possible?

When we look at the current state for what it is there is a natural tendency to lose belief in the change and an equitable world.

However, remember that the majority of the world is filled with good people. People who desire a peaceful and amicable life. People who respect other cultures and see humans as humans.

Yes there are racist remnants lingering in the society but they will die out eventually.  

That leaves this issue in our hands – the Gen X, Millennials and the post millennial generations to not only demand the change but be part of the change.

We cannot fight this with riots or protests. We can only fight it with systemic changes and those changes can only happen with right action:

  • Demand that employers disclose the salary ‘range’ of all of their employees
  • Seek your right to information on flow of money – know who is the beneficiary
  • Use your power of vote – as a combined voting bank even people of color have massive power
  • Volunteer to form legal organizations that support people from the distressed communities in their legal battles

This battle cannot be won with force and it certainly cannot be won overnight.  

What has bitcoin to do with discrimination?

Staying true to the theme of this website, we cannot end the article without mentioning bitcoin. This is not a callous plug, it is an honest belief that bitcoin can change the fundamentals of our society (which is why it was created in the first place).

Bitcoin helps people of all colors to participate in commerce without permission.

That means, you can start your own business and start accepting bitcoin without anyone’s permission. Thus eliminating one of the barriers of entry.

Perhaps, this protester has captured the sentiment about how systemic oppression has taken a toll on people and why bitcoin can act as a macro solution.

Exit the ecomomy by buying Bitcoin – Los Angeles George Floyd protests

No Description

Bitcoin is not an answer to ALL problems

While bitcoin cannot solve the injustice and discrimination in the society, it can remove the barrier to entry into the commerce for person of any color. That in our mind makes bitcoin part of the solution to one of the many problems that plague our society today.

Conclusion

Protests are essential to show the politicians and the world what we stand for and against. However, protests do not solve a systemic issue but asking the right questions, exercising our voting rights to elect responsible politicians and then holding them accountable might. And yes, bitcoin too may prove as a tool in the fight against systemic inequalities.

If you are able to, donate to the Black Lives Matter. We did.

Thank you for reading and sharing this article.

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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All Roads Lead to $100K Bitcoin: Various Perspectives that Support $100K BTC

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Bitcoin to 100K

Bitcoin to 100K

There are a lot of theories in the crypto space that argue that Bitcoin will reach $100,000 before the next halving.  Some even argue that we could reach that price point before the end of 2021.

Here we have compiled a few perspectives that support a higher price point for Bitcoin.

IF we missed any, please let us know and we will be glad to add it for others to read.

Bitcoin’s ability to reward savers

If you saved $100,000 throughout 2017, today its value would have been $94,000, a total loss of 6% due to inflation. That is without considering the fees and hidden charges that institutes charge.

Even if you invested in the S&P 500 for 12 months at $8333 each month throughout 2017, your portfolio value today would have been $110,000.

If you saved $100,000 in Bitcoin throughout the 2017 (prices ranged from $920 through $14,000 during Jan 2017 through December 2017).  For the purposes of this comparison we are using the last week prices from each month as available on Coinmarketcap historical snapshots.

$100,000 invested in equal amounts throughout 2017 would look something like this.

Bitcoin to 100K

Since 2017, Bitcoin price has crashed and rebounded.  At the lowest point of the crash of $3000 per bitcoin, your portfolio value would have been $144,000.

In today’s average price of $16000 per bitcoin, your $100,000 savings would have been worth $770,000.

Due to its increasing demand and reducing supply, Bitcoin is expected to reach $100,000 in the next 4 years. Some models show that bitcoin will be worth $1 Million by 2030.

Only time will tell us whether bitcoin reaches these prices or not, but point being, no other asset of any class has crazy growth predictions like Bitcoin has.

Stock-to-flow ratio

According to Plan B, Gold had the highest stock-to-flow (SF) ratio of 62.  That is, it will take 62 years to produce the gold that is currently in the market.  In other words, you cannot willy-nilly inflate the supply in a year or two due to how scarce gold is and how difficult it is to find and mine it.

Current SF for Bitcoin is 25, however, by the end of 2020 or 2021, this could jump to 50.  By the next halving in 2024, Bitcoin could surpass the SF of gold.

According to Plan B, “The predicted market value for bitcoin after May 2020 halving is $1trn, which translates in a bitcoin price of $55,000. That is quite spectacular. I guess time will tell and we will probably know one or two years after the halving, in 2020 or 2021. A great out of sample test of this hypothesis and model.”

However, following the trajectory of Plan B’s SF analysis, Bitcoin could easily reach $1 Million dollars by 2030, according to some commenters.

Stimulus and unlimited printing of fiat

COVID has exposed another flaw in the fiat system.  It is that governments can print as much money as they wish whenever they wish to do so.

Whenever governments resort to simply print money without having a basis in asset value or growth in GDP, it erodes the value of the fiat in circulation.

This is what happened to Argentina, Venezuela, Zimbabwe and more.  

The US dollar has lost over 99.97% value since 1900.  For instance, whatever you could buy with $1 in 1900 will need $31 today.

COVID has added salt to the wound for fiat.  It exposed the blatant fact that governments can and will print money to their whim without regard to the inflation and impact on savers.

This increased supply in fiat helps stock market and market liquidity which in itself helps people who are invested in the stock market and other vehicles which is generally the wealthier part of the society.

Other factors strengthening the crazy Bitcoin price predictions

  • Institutional FOMO, for instance, Square, PayPal, Grayscale, etc., entering the market
  • Easier onboarding of new retail investors
  • Greater technologies and DApps being built on Bitcoin 
  • Great DeFi services to lend and borrow money
  • Globally accepted single denomination that does not need to be converted in the future (with enough places accepting bitcoin)

What other factors do you think will contribute to Bitcoin’s shooting past the $100,000 barrier?

Let the FOMO begin…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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Crypto Roundup: All Your YouTube Influencers in One Place

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Crypto Roundup

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: Bitcoin Will Be OVER $20,000 By Christmas 2020! BIGGEST WEALTH SHIFT OF OUR LIFETIME! Cryptocurrency

Date: 19-Nov-20

  • World’s biggest wealth shift of our lifetime is happening right now and no mainstream media is talking about it, except CNBC.

  • Preston Pysh predicted on August 26th that: “Bitcoin should be reaching its all time high by Christmas.”

  • If you are looking to buy a dip, there may not be one.
  • Ricardo Salinas Pliego, a mexican billionaire, has just revealed that 10% of his liquid assets are into bitcoin.

Lark Davis

Video Title: STOCKS HIT NEW HIGHS! WILL COVID VACCINES LEAD TO MEGA PUMP IN 2021? [Are You Ready?]

Date: 19-Nov-2020

  • Stock markets and bitcoin pumps higher on the news of the second successful covid vaccine.
  • There could be more chances for the new stimulus. Means more inflation, more debt and simultaneously pumps stocks, gold and bitcoin.

Crypto Zombie

Video Title: BITCOIN $18.5k TOP!!?! DON’T BE FOOLED!! HODL FOMO BEGINS!!! $TRILLIONS FLOOD!!

Date: 18-Nov-2020

  • Overall sentiment of Bitcoin has changed drastically from ICO craze in 2017 to a time where people are FOMOing to own more bitcoin.

Ivan on tech 

Video Title: BIG WARNING TO ALL HODLERS!!!!!!!!! DO NOT GET REKT!!! BITCOIN $18,500 REJECTED – NOW WHAT?

Date: 18-Nov-2020

  • Ivan expects bitcoin to shoot past $20K resistance before end of this year, giving it 85% probability

Chico Crypto

Video Title: World’s Most Powerful Turn BULLISH on BITCOIN

Date: 19-Nov-2020

  • All those who hold big bags of Bitcoin will come out of the shadows to talk up the Bitcoin rally, a $20K bitcoin could be on the cards before the end of this year
  • Ethereum mining could act as a big catalyst for Ethereum’s price
  • Big companies like google could play a bigger role in mass adoption of crypto

Let the FOMO begin…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

Continue Reading

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