One of my favorite books is the Power of Myth by Joseph Campbell. In this PBS clip, Campbell discusses a myth that I believe characterizes human psychology very well, especially as it relates to politics. In Ep. 6: Joseph Campbell and the Power of Myth — ‘Masks of Eternity’ , Bill Moyers asks Joseph Campbell to comment on an African myth:
There’s a wonderful story in some African tradition of the
god who’s walking down the road, and the god has on a hat that is
colored red on one side and blue on the other side. So when the people,
the farmers in the field go into the village in the evening, they said,
“Did you see that fellow, that god with the blue hat?” And the others
said, “No, no, he had a red hat on,” and they get into a fight.
They go on to discuss what the myth means both then and now.
To me, it illustrates one of mankind's primary weaknesses -- we are easily distracted.
"The people" have witnessed god, but are too busy worrying about what color hat he was wearing and eventually a fight breaks out.
Moral: Humans have an innate ability to focus on the wrong problem.
Democrat Vs. Republican
Progressive Vs. Conservative
Trump Vs. Bernie
These are all red had/blue hat distractions; these are old tricks used
by the new gods of media and production; these are French Revolution prevention strategies.
What can we do to focus in on the real problem?
It's not ideal, but we live in a corporate state. To narrow in on the
problem even more, it's not the corporation that's bad, it's the power
we give them as corporate entities. Their only directive is one of
profit as stated in the corporate bylaws. The good news is that
corporations are very efficient organizations where profits are
concerned. If you dangle the right candy, they can make change happen
over night. I think it's time to start using corporations to our advantage.
The real way we "the people" can bring change is through spending. Rather, we need a way to focus our collective buying power. We need a way to boycott with a demand. In its grandest sense, bitcoin is a boycott of the central banking system. Our demand is to form a government that works for the people -- no sides are needed (red or blue). Our demand is medicare for all, free school (college included), a universal basic income paid for by a robot (automation) tax. Our demand is no more debt, no more war, an increase in bitcoin usage and a change in corporate bylaws to favor community and labor over profits. These are the demands we should be focusing on.
Abra is a crypto-wallet you can download to your phone and they're having a great promotion. For a limited time, when you refer a friend, and your friend deposits $5, you and your friend get $25 (see below for requirements). What makes Abra different? It
allows you to do things that other platforms don't, namely invest in
other types of assets outside of the crypto world like stocks and
bonds. Abra is available globally and supports 30 cryptocurrencies and
over 50 fiat currencies using Bitcoin/Litecoin smart contracts. You can invest in multiple cryptocurrencies. Additionally, the Abra model is 100% peer-to-peer, with no middleman. Most exchanges aren't safe enough to also use as a wallet. In fact, the only place I've ever been hacked is when I left funds sitting in an exchange wallet. However, Abra is more secure
than most cryptocurrency
exchanges since users are the only ones who can access their recovery
phrase. This is because Abra is a non-custodial wallet so it never has access to
your funds. According to the company,
"Non-custodial differs from
traditional custodial services in that
we do not store funds on your behalf. We use blockchain technology as
the underlying mechanism to enable you to have complete control over
your funds at all times."
As a word of caution, because of this added security, it's really important to create a backup and save your recovery phrase
in a safe place. In the event your phone is broken, stolen, lost or the
app is deleted accidentally Abra never has access to your funds
or the associated recovery phrase. This is awesome in terms of security,
but it also increases your responsibility for making sure you have a
back-up plan if something happens to your phone. Max Keiser Likes Abra If you're a Max Keiser fan (King of Bitcoin), you've probably already seen the video below. I like to know the people behind the products I use so I wanted to share this with those of you thinking about signing up with Abra. This is not your ordinary wallet. If you haven't
seen the video, here's the second half of the Keiser report where Max talks to Bill Barhydt of Abra about their new product which will
essentially create a bitcoin standard for the world by turning BTC into a
unit of account. Get ready!
Ready to sign up! Wait a moment...
First, I want to explain a few things because I don't want you to waste your time. There are only two ways to get the $25 after you sign up for the account. Within 90 days of signing up for Abra, you must complete 1 of the following options:
Option 1: Deposit a minimum of $5 to Abra's wallet using a US bank account or debit card.
Option 2: Deposit crypto and exchange it to any other asset (except BTC, BCH, ETH, and LTC). You will receive 1.5% of the exchange total, up to $25. A minimum of $5 in rewards must be accrued to receive payment.
I used Option 2, because I can connect it with my Coinpot and FaucetHub faucets. Option 2 is also the best place for folks located outside of the US.
So the first step is to figure out if you can do Option 1 or 2. The second step is to download the app here. The third step is to follow the instructions to receive the $25.
If you run into any issues, I contacted Abra's support team on Twitter and got a response within the hour.
It’s
been almost 18 months since I wrote that article. The goal was to see
if bitcoin faucets were a viable way to earn free bitcoin. I, like many
others, was skeptical. Free bitcoin? There must be a catch. So I started
my little experiment with a skeptical eye. Specifically, I wanted to
see how much you could make on Coinpot in 1 year.
With
my model I surmised that I could look forward to a minimum of $900. Of
course I had no way of knowing that bitcoin would be attacked from every
angle in 2018. As a result, the price of bitcoin dropped significantly,
but it’s worth noting that it never dropped below the price of an ounce
of gold. Gold — the world’s most precious metal.
So,
here we are, almost 18 months in and I’m up roughly $700. Did I make
the $900 mark? No. But, $700 isn’t bad for what I was told was a “scam
bitcoin faucet”. I kept waiting for something to happen to the site
throughout the year. I kept waiting for my account to get hacked. I kept
waiting for the site to change the rules. It never happened. Everything has been easy. All withdrawals have been made.
Round of applause for those of you holding it down over there at Coinpot.
Also, at the moment my referral bonus is almost maxed out, so big round of applause to all of my referrals as well!
And,
the beautiful thing is that we’re coming out of a market bottom in
bitcoin. It is my belief that we are currently on the front end of a
bull market. Bitcoin has taken a beating over the past year, but I still
think it will be the world’s reserve currency. I still think it could
reach $4 million or more in 10 years.
Okay,
so I’m a believer in bitcoin faucets. I especially like the fact that
anyone (beginner to advanced) can start making bitcoin with these
faucets and there’s no risk because you’re earning bitcoin as opposed to buying it.
Now
what? Now, that I know what works and what doesn’t, I’m going to
research other bitcoin faucet programs. I’m also going to see if there
are other ways to earn bitcoin risk-free. I hope you’ll join me.
It was in this article that I first announced my belief that bitcoin's value could easily reach $4 million. First, yes, I still think $4 million is possible. In fact, I think it's more possible than ever, because the banking cartel has thrown everything it can at bitcoin and it's still thriving. We also have applications like Abra that make it possible for bitcoin to become the world's reserve currency (more on the mechanics of that in a later post. Abra discusses it on their website as well).
Moving on to the point of this post, however, is that I love the fact that bitcoin can't be controlled. That lack of controller-ship appeals to me as a way to dis-empower the power structure. I liken it to the pride I'd feel for a son or daughter that became a revolutionary. Indeed, if bitcoin were a person, the power structure would have put him on a modern day cross. Perhaps bitcoin and Assange could share the same cell. I digress. Back to the point...
Bitcoin can't be controlled by banks, government or anyone else. It is a truly decentralized form of exchange that requires the approval of everyone that owns it to be controlled.
This is not a theory. This kind of technology is here. Bitcoin is the embodiment of that technology and it's in its 9th year. It's held up to attack after attack. And, if it could be controlled, they would have figured out a way to do it by now.
Today, Bitcoin stands at well over the price of gold. For all those pessimists, even when bitcoin dropped to its lowest levels over the latest pullback, it never dropped below the price of gold. Gold, the world's most valuable and precious metal.
So, bitcoin's viability has been tested and it has passed every one of their tests. What next?
What's Next: Bankers Civil War
From Asia to North America to Europe, quantitative easing and ample reserves are the new black. Which is to say, it's all the rage. Nation states hate inflation, but they love quantitative easing, which is a bit like saying I hate food, but I love to eat. It's schizophrenic. The schizophrenia is brought about by extreme inner conflict between greed and power. Some bankers see quantitative easing and the IOER scheme as the last big grab, others see it as a hedge against an inevitable foe called inflation. I'll cover more on the growing civil war within the banking industry in a later post.
My point is that the Federal Reserve's clear loss of control over the fed funds rate and the plan to make quantitative easing a permanent program have created a surge in bitcoin in recent months. It all started around March 20 -- the day the Fed announced the FOMC decision to keep rates steady. That's also the day the fed funds rate started outpacing the IOER. Some folks didn't like that decision and now we have a civil war within the banking industry.
That's why bitcoin has surged in recent months. It is a condemnation of the lack of control, a condemnation of gross negligence and irresponsibility.
And, every time a nation or group has a disagreement with their government, bitcoin will be there, arms held wide.
Bitcoin gives the world all kinds of reasons to love it.
We now have a viable alternative to reckless economic behavior, a new heavy weight has stepped into the ring to fight for us. Not just for North America, but for every group in the world. Bitcoin is, and is currently in the process of becoming, the world's reserve currency.
With this comes the end to monetary corruption. With this comes a sort of transparency and freedom that this country's forefathers could only dream about.
Bitcoin does not solve all of our problems, but it gives us the ability to be free. What we earn will truly be our own. Bitcoin can't be confiscated, it can't be burned, it can't be deducted from, it can't be turned against us or taken down. It has no language, nationality, color, religion or creed and it has come, like a savior, to save us from ourselves. (Jesus was a revolutionary too)
If you're looking for a place to get started with bitcoin investments, take a look at Abra. Read what they're about and how they differ from the competition. If bitcoin does become the reserve currency of the world, it will be in large part due to the work Abra's doing.
In a series called "Outliers", VICE "explores worlds beyond the economic
mainstream, meeting people who’ve chosen unusual and sometimes radical
relationships to money, commerce and capitalism."
The
first episode showcases a cluster of communes. In exchange for a 40 hr
work week, workers get everything from health care to food taken care
of. They even get a little stipend. This isn't what I think of when I
think of a world where labor is valued more than capital, because
ultimately, if these people decide not to work a 40 hour week they don't
eat. And, as you will see if you watch the video, they are all still
partially injected into the system anyway.
What I like
about the episode is that it provides an example of a unique economic
model without defining it. It puts it into context without judgement, and the
role of "definer" is left to the audience. This isn't easy to do, and it's done
well.
Bottom-line: Great episode. I also like the
idea of a hybrid commune. Ideas like this are what make me proud to be
American, but why not keep the mindset, AND play the game. That is, get
paid, get capital and let your capital make your income so you can spend
your days at the commune?
It IS possible
to think like a capitalist without buying into a 'winner take all'
belief system. It's one thing to know the rules, it's another to believe
those rules are your limit.
I look forward to the reviewing the next episode of Outliers on VICE.
What happens to companies that buy back their own stock with debt? They become Zombies. The situation gets even worse when companies buy back stock in periods of rising interest rates and at a time when stocks are trading at all time highs.
So, why is it bad when a company buys back its own stock? Here's the answer:
EPS is a measure of company performance. It is calculated:
Net Income /
Shares Outstanding
Stock prices tend to go up when a positive earnings per share (EPS) is announced, and down when negative EPS is announced. CEOs and CFOs know this and will do everything they can to "windowdress", especially to disguise a bad year or quarter.
When a company
buys its own stock it reduces the number of shares outstanding and
increases EPS even though the company made no additional net income.
This is how a company can lose money and still have a growing EPS. They
will tell you they are doing it as a way to reward the shareholders,
which is true as long as the company is cash rich like Intel or Apple,
but most companies are borrowing money to finance stock buy-backs, and they are doing it at a time when shares are selling at their highest multiple in years. These
companies are referred to as Zombies, they are the walking dead. I did
not make this term up. Read more about the rise of the Zombie firm here.
So what?
What does this mean if you're an investor?
It means you need to focus on companies with earnings, not earnings per share. If a company isn't making a profit (read: net income goes down), but the EPS is still going up, it's a red flag because this can only happen one way -- if the company bought back shares. It's a super red flag if debt is going up at the same time and the company is using the debt to purchase shares (read: shares outstanding is going down). You don't want to own these companies. These are great short opportunities. What does this mean if you're a consumer?
It means companies will be competing for your dollar more than ever. These are hard times for local retailers who must compete against online retailers as well. They also don't have our undivided attention like they did 20 years ago. Which is to say the new entertainment model (Netflix, Amazon Prime, etc) allows most of us to opt-out of watching commercials. Now, retailers are looking for ways to get back in your head. Enter rewards or cash back programs. These programs have become better at reaching a wider audience than a traditional ad or commercial. Not only has the number of programs increased, but the percentage of cash going back to the customer is growing. This will come back to the retailer in one of two ways: 1) it will grow foot traffic at the expense of pricing or 2) it will create write-offs. Write-offs can be pushed to the next quarter or year and they allow a company to drastically reduce prices in the current quarter. Either way, look forward to heavy discounts this holiday season to increase foot traffic.
More than a force of change on the business world, freelancers are becoming a competitive advantage because they:
are highly flexible,
get paid by the task; and,
have a high degree of autonomy.
Strategically, freelancers also give
employers: the ability to tap into talent outside the local geographic
area, the flexibility to cover short-term skill gaps, the luxury of
lower overhead and the myriad benefits that go along with increased
operational agility.
The Middleman
The advantages of
hiring freelancers are clear, but the process of finding freelancers can
be tedious, frustrating and expensive. Enter the middleman or
third-party. Platforms like Upwork and Fiverr are popular, but tend to
struggle with a common set of problems to include inconsistent work
quality and payment issues.
In addition to these challenges,
third-parties also charge fees. Some charge a flat rate fee on all
transactions, while others charge variable rates. For example, Upwork
charges 20% for up to $500, 10% for up to $10,000, and 5% for over
$10,000 per client. Fiverr charges 20% flat. This doesn't include fees
on payment options like credit cards, PayPal or bank transfers.
Is
it possible to automate this middleman and payment function? Yes, and
the name of the technology helping companies do so is called
blockchain.
Blockchain Automates the Middleman
Blockchain is the new middleman. It helps to facilitate the connection between you and the freelancer by serving as
a dual-staking system or escrow service. The technology offers companies and
freelancers the ability to trust and verify without the need for
intermediaries. Once the contractual conditions have been fulfilled,
payment is automatically authorized. The set of conditions surrounding
the agreement is referred to as a 'smart contract'. No middleman or
trust agent is needed because the blockchain is the broker.
Blockchain applications also provide benefits for the freelancer including faster payments,
lower fees, easier access, and contractual incentives like staking.
Staking helps freelancers solve the age old "chicken or the egg problem"
when starting on a new platform. A reputation is required to get new
gigs, but you need gigs to establish a reputation. With Serve, Instead
of having to build a reputation, you can buy your reputation by
purchasing a "stake". This form of tokenized reputation encourages
everyone to act ethically because everyone has some "skin in the game".
Most
third party platforms are flawed since the middleman charges fees and
controls how the connections are made. Blockchain powered with technology has the ability to automate the middleman function giving
you all the benefits of hiring a freelancer without the headache.
I don't think it's possible to separate belief system from everyday life if you want to live well. And, based on new discoveries in quantum science, separating the two may even be hindering progress in everything we do, especially if we 'believe' the path toward progress is a difficult one. In such a case, we could be the creators of our own hell. Of course the opposite may also be true, which should make this article worth reading.
What Do I Believe? We Are Living In A Simulation
I believe that we create our own reality. I believe we can do this because we live in a simulation. This may seem like science fiction, but there's a dearth of scientific (repeatable) evidence out there that says otherwise. One of my favorite discussions on the topic is the 2016 Isaac Asimov Memorial Debate: Is the Universe a Simulation?(see below)
Let's assume we're both on the same page and we both believe we are living in a simulation. Now what? The next step is to figure out the rules of the simulation so we can get the most out of this life.
The Relationship Between Newtonian & Quantum Physics
We know the physical rules of the world are based in Newtonian physics: an action or cause creates the effect or reaction.
We also know the rules of the world are based in Quantum physics, the study of matter at the atomic level. At this level, however, the laws are reversed. At the quantum level the action or cause follows the effect or reaction. Again, this is provable, peer-reviewed, repeatable science.
We know a lot about impacting reality on the Newtonian level, but what about the quantum level? What is the quantum level? Why is it there? Who is there?
In the following video, Dr. Joe talks about these questions. Specifically, he discusses the relationship between you and your "self" (the person playing the game). He gives a few ideas on ways you can tap into your infinite self using the laws of quantum physics.
The most common way is to imagine yourself as the person you need to be in order to be the person who does the things you want to do. That sentence takes a bit of unraveling, but here's an example of an exercise that will help.
Before you get up in the morning, transform yourself into the person you want to be in your mind. Walk the way they walk, talk the way they talk. Do the things they do throughout the day. Try to live out the entire day of the person you want to be before you get up in the morning. Don't let yourself get out of bed until you are that person.
Why and how does this exercise work: neuroscience
Studies show that what you imagine to be happening is actually happening as far as your brain is concerned. Let that sink in for a moment. For example, scientists have shown that if a person imagines eating, if they imagine
the entire process and all its sensations as clearly as they can,
they will have less appetite for more food afterwards, just as if they've actually eaten. It doesn't stop at mental suggestion. Another study found that just thinking about exercise can build muscle. This puts a different spin on the practice of prayer and meditation.
It is
possible to live out the experience you want
to have in your mind. If you're really good at this, if you have a
vivid imagination, you can imagine whoever you want to be.
Masters of this practice can effect change in real-time. And, if we are
infinite beings having a finite experience
on earth, it would seem that it's the infinite being that operates on
the quantum level and the finite being that operates on the physical
level. We are both. In other words, if this is a great big
simulation,
you are the player in a Newtonian world, and your infinite soul is the
controller in the Quantum world. You can communicate with the controller with your thoughts. Emotions amplify your thoughts.
Why Is It So Hard To Think About The Life You Want
It should be easy to concentrate on what you want, but it isn't. We are not wired (quite literally) to think that way. In fact, when in survival mode we are wired to think about all the bad things that can happen. Murphy's Law even tells us to expect the worst in order to prepare for the worst, but in a world where thoughts create reality, this way of thinking can be a living state of hell. The person who follows Murphy's Law is in a state of perpetual survival at their own hand.
What happens when you start meditating or praying every morning on who you want to be? As soon as you start to see yourself through the eyes of both
you and the "self", it will change the way you view everything.
Suddenly you become more aware of everything around you. You'll start to notice things
that weren't there before. Clutter will need to be cleaned, disorganized spaces will need to be organized. You'll start to question actions that don't lead you to where you want to be. You'll break out of your old programming as you create new programming.
Quantum
physics tells us that the more you are able to feel that bliss experience in your mind, the
more you can expect for it to manifest in your 'reality'. And,
when it does, your mind will reward you with the revelation that it can
happen again.
