So let’s talk about those tax dollars, because most of what you just described doesn’t come from federal tax dollars. Here’s how federal tax dollars get spent as of 2022 congressional budget committee reporting: Defense: 13% Social Security: 21% Health Insurance: 25% (medicare, medicaid, obamacare) Economic security programs: 11% (welfare, snap, utility assistance etc…) Veterans benefits: 7% Interest on debt: 7% Education: 3% Transportation: 2% Natural resources and agriculture: 1% Science and medical research: 1% Law enforcement: 1% International: 1% All other: 5% Education, transportation, law enforcement, utility costs, home inspections, among a number of other things are majority paid for by local and state taxes, not federal income tax. Of the federal tax money in the categories noted a huge portion goes to senior citizen benefits. Over 15 million senior citizens live with incomes below 200% of the poverty level because the social security program is ineffective. Seniors are also one of the largest beneficiaries of economic security programs like SNAP and utility assistance. As well as taking up a huge portion of the healthcare costs with Medicare. Which again, falls short in supporting the rising costs of healthcare leaving many seniors in medical debt.
I don't know who all knows, but my household pulls down six figures in a place where the average salary is closer to $30k. EVEN MY kid just got a SNAP card IN HER NAME with EBT benefits so she can buy food. They're going to train up a child in the way they want them to go, so that when they're old, they'll buy those darn soy dogs and be F'n happy.
Yeah then they eat those meals and they're hungry again. The United States can't even solve hunger in its own country. In 2020 SNAP (food stamps) cost the country nearly 80 billion dollars. If you think we can permanently end issues with access to food worldwide for a fraction of that you are just delusional.
We already do this with SNAP and housing assistance. And similar with spending MSA and such. May as well just put it all into CBDC and be done with it. Also would be cool for things like oversupply of cheese…just add a few million extra dollars to everyone’s wallets that can only be used for cheese.
Yes, but CBDC has a layer of intelligence. Gov can do things like issue UBI or SNAP or welfare, and make it so the money only works for rent or milk or clothing etc, plus they can say it expires on X date. So things like stimulus money can be forced to get spent on intended idea.
You can watch the actual presentation linked below. The article OP linked is a spectacle of cherry picking to fit a narrative. They address the issues of privacy among other things in the full presentation that give the soundbites in the article a totally different perspective. That said, I don’t support or think that CBDCs are the answer for a variety of reasons. Not to mention there are countless ways to side step the restrictions that CBDCs could attempt to implement. For instance in a social services model where you’re trying to prevent people from buying non-food items with welfare money. All that needs to be done is to scan in a food item, manually adjust its price to a non-food item and give the person the non-food item. I watch people do this already at my local 7-11 with their SNAP food benefits. The clerk scans in a gallon of milk, alters its price, then hands the purchaser a pack of cigarettes. I’ve even seen it where they scan a bunch of food items, keep the all items, and hand the person cash back that is equal to the value of the items. Basically using the register as an ATM. https://youtu.be/2I9HR7BTmn0
>Ok... Where to start... > >Even if this isn't a scam (how are you taking the 0.1% fee?, How can we trust it? How much of an attack vector are you needlessly introducin), the marketing around this is wayyyyy too buzzwordy to give any level of confidence. > >I'm always sceptical when I see products that handwave "AI" for systems that don't appear to need it. Hi DX, thanks for commenting! PreSend is read only from the point of view of interacting with your wallet and assets. The 10% + $0.02 fee will be present in MetaMask's gas system. It alerts/blocks a transaction that could result in your cryptocurrency being sent into the ether, and makes use of MetaMask's ‘SNAP’ and 'FLASK' architectures, which are the MetaMask-approved methods to interact with your MetaMask wallet
Not hard to imagine at all. This framework already exists in the social services sphere. You can only use your SNAP food assistance card at businesses that accept SNAP. Which have to be registered with the USDA to be able to accept those benefits.
>These cash-grabs are plainly obvious to mainstream gamers; it's is why there's such a massive backlash against crypto being forced into games. Most people that actually play games know what makes a game fun to play and will spot a cynical cash-grab a mile off (surprisingly, finance & crypto nuts looking for the next hot speculative asset have nfi and are more likely to fall for these dumb games) Uh, not true. Gamers as a whole are a pretty unimpressive bunch when it comes to this. For the last several years game devs have creating and employing increasingly more predatory business models for their games and making shit loads of money doing so. I have been reading post from people exploring others to "vote with their wallet" for years. Devs to get more crazy and wait for the backlash to hit a peak and walk it back a little and they are celebrated (most recent example Marvel SNAP). Activision has been selling player skins to people in an FPS game where you can't even see what you bought while your playing. It's been tested and proven that guns they released into warzone were weaker when earned versus when bought. People play these games and spend their money there because yes, they are more fun and yes, they are more pretty. This is easily explained by knowing that this is where the money is. They have the budget to afford the talent required to get your interested. You are making a very harsh yet accurate assessment of scales the are only at the very beginning of tilting. Over time, as these games become more compelling from a graphical perspective, a mechanics perspective, and an economy perspective the money will begin to shift. The people who are supportive of what we have right now are not supportive because of what currently exists. It's because of what it could potentially be. For me that's not a get rich quick scheme. I whaled into Warzone while I was playing with my brother and after a while I realized, I hate this fucking game. For many reasons but the point it is, it was a terrible financial decision from my part and now that I don't play anymore I have nothing to show for it. But if the items that I bought/earned while playing were of limited quantity I could have sold what I had on a secondary market. Even if I sold all of it for 50% less than I payed I would still be better off than I am right now. Your post is accurate but u fortunately it is an inevitable current state and moving beyond this will take time. There needs to be more money in the space but why do that if the space is not compelling? It's a shitty circle that unfortunately needs speculation to be broken.
Ehhh, google did better than expected especially compared to SNAP. And MSFT's Azure platform is still killing it. They mostly took a hit due to the profits from abroad being hit by the high USD. Both look good all things considered, especially MS.
Ha! Love these articles. Best not to mention darling **ETFS** like [ARKG](https://finance.yahoo.com/quote/ARKG?p=ARKG&.tsrc=fin-srch) which are down 70% from their highs, or darlings like [Netflix](https://finance.yahoo.com/quote/NFLX?p=NFLX&.tsrc=fin-srch) and [Zoom](https://finance.yahoo.com/quote/ZM?p=ZM&.tsrc=fin-srch) which were wholeheartedly massacred from their highs. Or stocks like the "very safe" [Alibaba](https://finance.yahoo.com/quote/BABA?p=BABA&.tsrc=fin-srch) which got melted down from its highs, or [Darlings like Shopify](https://finance.yahoo.com/quote/SHOP?p=SHOP&.tsrc=fin-srch) or [Snapchat](https://finance.yahoo.com/quote/SNAP). Anyone who meets the following criteria should lose their money though: > Jacob Willette, a 40-year-old man in Mesa, Ariz. who works as a DoorDash delivery driver, stored his entire life savings in an account with Celsius that promised high returns. At its peak, the stored value was $120,000, Mr. Willette said. If you *willingly* put your life savings into something that promises high returns and don't even ask a question about whether or not that's a good idea, guess what - You're probably going to get burned. It's high risk high reward for a reason. You just ate the risk.
So, I can speak to some of these from personal experience. The free birth control is all well and good...except when you look into the rural parts of the country. For example, I grew up in a tiny town in rural Ohio, population was roughly 1,000. The town directly next to mine would not sell condoms, and the sex education in the area was based solely on abstinence. The year my sister graduated, more than half of the kids in the graduating class in our county seat either were pregnant or had kids already. Not everyone has access to that kind of thing in poor, rural America. There was a similar situation with low-income housing. When my parents split, we had to be on a waiting list to get an apartment that my mom could afford. My town had a total of 20 apartments that were low-income. There were a LOT more than 20 families living there that would have qualified for it, but there just isn't enough supply. On top of that, it most definitely wasn't free. We had days where we had to hope someone messed up an order at the place my mom worked so we could eat because there wasn't enough food to last, even with SNAP. That's something I've struggled with my whole life now, trying to ration out food to make sure I always have something to eat even though I live very comfortably now. I don't have any personal experience with the day care situation, as I was 12 when we became a single-parent household. I can, however, speak on Medicaid and how impossible that system is, because of how underfunded it is. I couldn't get the psych help I needed because none of the places near me would take it. I married my wife faster than either of us intended because she had Medicaid and desperately needed to get into a treatment facility for an eating disorder, but literally NO facility would take her. We called places all over the US, it was the same story as soon as they heard she had Medicaid. As soon as she got on my insurance, she was able to get into a facility the following week. It's great that we have some programs, but honestly they are underfunded for the actual needs of the communities they're supposed to serve. We also have a big issue with not providing actual sex education to kids. There are huge chunks of this country that won't talk about safe sex, and only preach abstinence. Not saying that they shouldn't mention abstinence, but we need to make sure that kids understand how else they can protect themselves. We also need to help people not be living at the poverty line because they had a kid. Having an unexpected child shouldn't condemn you to living in poverty, but it absolutely does for a lot of people. Again, using my wife as an example: She's doing fairly well in her recovery right now, to the point where she's picked up a part-time job. However, she can't work more than 15 hours a week or she loses her SSDI, and if she relapses after she loses that we're in trouble. It's the same story for people getting SNAP/WIC/etc. If you make too much, then you lose your benefits even though you're still dirt poor. The thresholds are super close, and the programs don't incentivize people to work. TL;DR: There are government programs, but there are a TON of issues with them that you're overlooking.
There’s free birth control available at the same places that provide abortions for low income people. There’s also free birth control and actual healthcare like pap smears and disease testing/treatments at the Health Department’s that are in EVERY COUNTY in every state in the US and subsidized by the federal government as Public Health. They also do kids vaccinations and administer the WIC programs for low income kids. Condoms and pills for sure and I imagine there’s even more options. Condoms at the store are less than $1 each. There are SNAP programs, child tax credits, AFDC or an equivalent cash stipend program in every state. There is public housing that for most residents is free, there’s Section 8 that helps low income people afford to live in better neighborhoods, there’s headstart and a ton of child care credits and resources for day care. There’s public schools and afterschool programs that are ALL taxpayer funded. Not to mention that the medical costs for prenatal care AND delivery are covered under Medicaid programs and low income kids qualify for medicaid till they’re 18. All that medical care has ZERO copays and ZERO premiums for low income mothers. What else can we possibly do?
Bullshit, I can tell you at least 50 off the top of my head. I'll list just a few - VRM, PDD, ZM, DOCU, PYPL, SNAP, SQ, LCID, NKLA, INPX, GAN, LAZR, CLOV, GRWG, ZEPP, RIDE, SOLO, COIN, PSFE, ASTR, IREN, Every Cannabis stock etc etc all fell more from their highs than Bitcoin has. ​ There are wayyyyy more than that honestly. The stock market has without a single doubt been more brutal than Bitcoin. Especially with how easy it is to trade additional derivatives on these assets.
Several possible reasons: - Lots of people are still up significantly, ie. lots of room still for profit taking. - Bearish investors wishing to short it. - The trend looks nasty. Doesn’t really look like it will be able to sustain much more selling pressure. - The speculative nature of this asset class makes for very volatile trading. If it were able to surge from 4 digits to nearly 6 digits in a year, it sure as hell can come back down just as quick, if not quicker. - The utility value of the coins pales in comparison to, say, utility stocks. If people are having trouble paying their bills, they’ll most likely elect to keep the lights on rather than their crypto wallet full. - The Ukrainian invasion doesn’t look to be subsiding and the Russian economy, sadly seems to be enjoying booming oil prices. I’m no expert here, so take with a grain of salt. Someone please correct me if I’m wrong. - Whether you believe in “Sell in May, go away” or not, others may, and those investors may be content with sitting on the sidelines rather than swim in shark infested waters. - Inflation could obviously put negative selling pressure on pretty much anything, but again, the need to eat or pay rent may trump “hodling.” - Investors may choose to take a loss for a variety of reasons, possibly believing crypto currencies have lost their lustre. - And finally, like boots, or hearts, when they start to fall apart, they REALLY fall apart. cryptocurrencies could unravel, or at least that fear is there. We’ve seen these kind of downfalls a lot lately. Take the stairs up, and the elevator down. Some cryptocurrencies have hardly fallen compared to some stocks seeing 80% losses in value. Just a few that ring a bell: SHOP, DOCU, COIN, SQ, DKNG, SNAP, even NFLX got hammered lately. Basically, what I’m suggesting is that it’s entirely possible for BTC to lose 90% of its value and people still could be asking the same question. You could buy in at $20k, only for it to drop 90% from all time high to $6900, and you would be down 65.5%. That would be a tough pill to swallow. Anyway, just some thoughts. Some of those points, the opposite could be true. I just hope most people that can stomach it, will, and the people that are over leveraged, well, that’s a very tough place to be, so my heart goes out to anyone struggling with that.
Take it from an IT guy. Raspberry Pi 4 is garbage. They don't have a real BIOS. I've had two of them fail in less than a year because of issues with the 5V power supply to the USB 3.0 ports. Never had that issue with Pi 3. 15.1W on the official power supply for Pi4 isn't enough power IMO. I bet it was the SSD and USB adapter that kept frying it. I went with a normal mini PC that uses 24w of power. No more issues since then. Much cheaper than a Pi 4 kit. Beelink mini PC - quad core Celeron, 8GB ram, 128GB m.2 ssd. [https://www.amazon.com/Beelink-Processor-Desktop-Computers-Ethernet/dp/B09ZLBDVZD/ref=sr\_1\_5?crid=2MB3HDX37B69D&keywords=beelink%2Bmini%2Bpc%2B128gb&qid=1654266494&sprefix=beelink%2Bmini%2Bpc%2B128gb%2Caps%2C69&sr=8-5&th=1](https://www.amazon.com/Beelink-Processor-Desktop-Computers-Ethernet/dp/B09ZLBDVZD/ref=sr_1_5?crid=2MB3HDX37B69D&keywords=beelink%2Bmini%2Bpc%2B128gb&qid=1654266494&sprefix=beelink%2Bmini%2Bpc%2B128gb%2Caps%2C69&sr=8-5&th=1) Crucial 1TB sata ssd [https://www.amazon.com/Crucial-BX500-NAND-2-5-Inch-Internal/dp/B07YD579WM/ref=sr\_1\_8?crid=1L55LSMVY607P&keywords=1tb+ssd&qid=1654266642&sprefix=1tb+ssd%2Caps%2C84&sr=8-8](https://www.amazon.com/Crucial-BX500-NAND-2-5-Inch-Internal/dp/B07YD579WM/ref=sr_1_8?crid=1L55LSMVY607P&keywords=1tb+ssd&qid=1654266642&sprefix=1tb+ssd%2Caps%2C84&sr=8-8) That's it. I installed Xubuntu (it's faster and uses less resources than normal Ubuntu). Took out the 128GB m.2 ssd, installed the the 1TB sata ssd (you could go m.2 as well, I already had the ssd). Once Xubuntu is installed, use SNAP to install Bitcoin Core. [https://www.cyberithub.com/how-to-install-and-setup-bitcoin-core-on-ubuntu-20-04-lts/](https://www.cyberithub.com/how-to-install-and-setup-bitcoin-core-on-ubuntu-20-04-lts/) Takes a few days to sync up the blockchain. But that's it. Very simple, low power system that is more powerful, more reliable, and cheaper than those rip-off Raspberry Pi's, but no noticeable difference in power usage. The fan can be a little annoying, so place it where you can't here it.
SNAP down 42% in a day but BTC is the volatile asset. Here is my thinking, all the companies at wildly high valuations are going to be corrected with extreme prejudice. Chickens come home to roost and at that point I think bitcoin will start looking like a more and more reasonable place to retain wealth. I know we can go lower but to be hovering at $30K amidst the financial winds of shit that are raging right now is actually impressive. Also read the genesis block, if you truly believe in the vision we might be at the cusp of our first true test. Bitcoin was created to combat the corrupt financial institution. If it can prove it's salt here then bitcoin's place in the world will be impossible to ignore.
US Market Futures are down: https://www.cnn.com/business/markets/premarkets Some bad news after hours for SNAP and its down in After Hours alongside PINS, Facebook, AAPL, GOOG, Amazon, and a lot of other stuff. Looking bad. Today the US markets went up and yet BTC still went down, it would be painful if crypto sinks tomorrow without getting the pump today.
It makes sense that politicians bastardized it. It works for them in two major ways; 1. Politicians can claim their excessive spending isn't causing inflation 2. Social security payouts is tied to cpi, so the lower cpi is, the less they pay out to people on fixed incomes. Meanwhile Congress give themselves a 20% pay raise and SNAP food benefits had a 25% increase because they know the 8% number is bullshit.
CBDCs are surveillance and population control tools. Point blank, period. The Chinese CBDC is the worst case scenario, but all CBDCs will look more like that and less like what we think of as stablecoins. In an ideal world, you could trust the government to have your best interests in mind and in that world, maybe a CBDC would be net good - it would enable the government to more easily administer and support safety net programs like SNAP. But the reality is (and has been illustrated by Snowden) that even liberal democratic governments run intricate surveillance programs on its people - and that's without a tool that directly enables it.
This is true. I know people who are trapped like that. They don't earn enough to live off of, but if they earn just a little more, they are disqualified from medicaid and food assistance (SNAP). It's not a sustainable system. It needs changing.
But of course it is, I mean even snap chat has its own tokens, SNAP tokens. And right now there’s a telco company that integrated blockchain, Eli mobile, $ELITE, this is a proper crypto token in the polygon chain, it’s going to be used on another social media platform called Elisium, the platform allows a new sort of interaction between celebrities and people through content created and even NFTs. Cryptocurrency isn’t going anywhere there’s always going to be new technology and problems to be solved.
> What makes it exploitation? The fact that Amazon/Jeff Bezos have gained hundreds of billions of dollars in value while thousands of Amazon workers rely on federal welfare programs like SNAP to feed their family because Amazon doesn't pay them enough to live. The reality is when companies don't pay their workers a living wage, the taxpayers supplement that persons income so they don't die. You may respond to this, "well nobody is forcing them to work for Amazon" - not at gunpoint maybe but the reality is if you don't work, you end up starving and homeless so there is no true alternative. I'd rather companies pay their workers a living wage instead of taxpayers having to provide welfare to keep Walmart/Amazon/McDonald's workers alive but that's just me
Ok, after checking into it again, we're both correct (though I was being too snarky, sorry), it just depends which benefit you qualify for. [https://firstquarterfinance.com/ebt-cash-back-rules/](https://firstquarterfinance.com/ebt-cash-back-rules/) I was thinking about SNAP benefits, which you can only spend on certain products and can't get cash back. TANF is the one you can get cash back from.
> “so you can’t buy booze or cigarettes or something” Na convenience stores have gotten around this for years with the SNAP debit cards and will continue to do so with CBDCs. They just ring the items up as something else instead of what it actually is, or as a miscellaneous item so it doesn’t throw any flags up on the social service side. 30 pack of beer = 4 gallons of milk. Cigarettes = 1 gallon of milk & carton of eggs. The 7-11 near my house does this for people on their SNAP and welfare cards all the time.
I don't own SNAP for a reason. It's overvalued with a narrow econimic moat. My point is that there are many U.S. equities that will continue to rise. PayPal was overvalued and so was Square. I now own both after the corrections. They may go down more, but they're closer to fair value than they were. The point on Chinese stocks is that they aren't due for a pump because China controls their growth. No one wants to buy stocks that can be held back arbitrarily and I don't think people will be ready to invest in China for a long time.
Like Amazon, AMD, and SNAP recently? U.S. equities are fine. Valuations and earnings are just starting to mean more. I don't see Chinese stocks moving upward anytime soon. Not when the CCP can kill earnings reports with arbitrary fines.
SNAP went up a crazy amount and Pinterest as well and META went down a massive amount. I've never seen such volatility in the stock market, hell it is rare to see that kind of movement in assets with such large market caps in a day in crypto with the large caps coins. I think there is a shitload of money on the sidelines waiting to rush in....or out and back to the sidelines apparently. All told very interesting, I am sure I don't know what the hell it all means but I am still waiting for my next buy zone and holding until then.
You're clearly misinformed as to what ""socialism" is or rather it's many variants. Conflating "Marxist" socialism with Democratic Socialism is a common mistake or sometimes intentional for the more Faux News nefarious types. Most of us... (I think anyway) when mentioning or calling for socialism are likely referring to Democratic socialism whereby the means of production remain with Capital in a mixed economy. The U.S. for instance is more of a Democratic Socialist country than many realize. Social Security, Medicaid, Medicare, Welfare/SNAP, HUD....these are just a few examples of "socialist" programs that are hallmarks of a Democratic Socialism safety net. [https://en.wikipedia.org/wiki/Types\_of\_socialism#Democratic\_socialism](https://en.wikipedia.org/wiki/Types_of_socialism#Democratic_socialism) ​ Now what the U.S. DOESN'T do...at least not very often, is privatize out of control and unstable Capitalist enterprises. We'll let companies go buck wild with pollution, unsafe products, poisoning consumers, catching entire states on fire with their electrical grid...you name it. However, the US Government will nationalize entire swaths of land for National Parks and Refuges, Oil Wells, Coastlines, Rare earth element mines, etc.
Not Crypto but stonks. I had 5 figures of each and sold for like 10% gains: AMD at $7 AMZN at $700 SNAP at $6 TSLA at $150 Again I know that was crypto, but it does provide a lesson in patience and conviction. The future will breed more opportunities, be focused and convicted and you will be rewarded. Good luck pal!
That makes sense. Given the post language was focused on the SEC etc… I was going off of US standards, which are indeed garbage. Even our social service programs are absolute trash. To paint a picture for you, my Gmom worked 50 years to end up collecting only social security in retirement, as she couldn’t afford retirement investing throughout her life. She get’s a yearly income of $10,000 from SSI. Given she lives in poverty with that amount she’s eligible for social services, and lives in low income subsidized housing. SSI pays her $833.33 a month to live, before taking anything out. Her medicare + part D is $110 a month. 833.33 - 110 leaves her with 723.33. Then the low income housing immediately takes 2/3 of that remaining amount leaving her with $241.11 monthly pay the rest of her bills, buy groceries etc... So she is also eligible for SNAP food assistance, so she applies and they gave her a whopping $25 a month benefit. Hope you can live on a gallon of milk, a loaf of bread and a couple dozen eggs for an entire month, because that’s all $25 will get you. Now consider this, she spent 50 years paying on average a Federal income tax rate of probably around 25%. Had there not been a 25% federal income tax and instead that money went into her pocket, well then she could’ve invested it into a 401k, or IRA etc… over 50 years of compounding interest she would’ve had at least enough saved to last her 20 years in retirement comfortably. Instead she lives day to day just hoping she can by. Heck even if the Federal income tax rate was only 10-15% she would’ve been in a far better position putting that remaining 10% away in retirement accounts.
I mean thanks for being the 'Acktually' guy in this conversation. Sure we can talk about whether or not Social Security is an actual entitlement. People are living longer and pulling more than they put in. But it's structurally different from the rest. I mean I pay Social Security knowing that I should get that money back when I retire. That money I put in is not an entitlement. It's something I earned and I made and I put in on the promise that it would be mine again in 40 years. When I overdraw then maybe yeah it's an entitlement. But let's not sit here and pretend like it's the same thing as WIC or SNAP because its not. And to treat them the same and talk about them in the same general blanket terms is asinine.