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Are you a spectator to reality? Or are you its creator? – Big Think

This years World Chess qualifying tournament brought a new twist: the heart rates of the players were broadcast live, with the help of AI software, so viewers could (supposedly) gain insight into the players emotions during a match. But can emotions be detected from mere heartbeats? When your own heart pounds wildly in your chest like a sledgehammer, does it necessarily mean youre frightened? Angry? Excited? Full of joy? What if youve just finished a strenuous workout or knocked back a bit too much espresso?

When it comes to the question of what your heart rate means, psychologically speaking, the scientifically correct answer is: it depends. Thats because physical signals from within your body have no inherent psychological meaning. A particular heart rate does not indicate any particular emotional state. Its not the case, say, that 100 beats per minute is happiness and 150 beats per minute is anger. The pounding in your chest during instances of both emotions can be physically identical. More specifically, your heart rate may vary just as much among different instances of anger as it does between instances of anger and happiness. Ditto for every spurt of cortisol, every trickle of dopamine, and every other electrical or chemical change in your body. What differs is the meaning that your brain makes of the physical signals in a particular context.

The same is true of physical signals from the outside world. When a tree falls in the forest and slams into the ground but no one is present, it does not make a sound. It does produce a change in air pressure. That change becomes meaningful to you as a sound only when it reaches sensory surfaces inside your ear (your cochlea), producing a different physical signal that travels to your brain, where it meets an ensemble of other signals that represent your knowledge of falling trees and what they sound like. You dont hear with your ears; you hear with your brain. If that same change in air pressure encounters your rib cage rather than your cochlea, you may feel a thudding in your chest rather than hear a sound.

Light waves similarly exist in the physical world, whether or not a human is present. But color is a feature constructed as your brain weaves those signals together with others of its own creation. So a statement like, The rose is red, is more precisely stated as, I experience the wavelengths of light reflecting from the rose as red. The redness isnt in the rose. The light waves detected by the sensory surface in your eye (your retina) modulate signals along the optic nerve that encounter other signals in your brain that reassemble past experiences and give those incoming signals psychological meaning and voila, you experience the rose as scarlet, ruby, or some other variety of red.

Your brain constantly runs a model of your body as it moves through the world. You come to know that world only through your cochlea, retina, and the other sensory surfaces of your body. Their signals, along with those streaming from within your body, continuously confirm or correct the ongoing signals in your brain. The implication is a bit startling: You cannot experience the world, or even your own body, objectively. Your experience is always from a particular perspective, and no perspective is universal.

Your brains internal model is formed from ensembles of sensory signals from your past, sourced from the body it is attached to, the world that surrounded it, and the other people who curated and inhabited that world. Their words and actions wired your brain with the concepts of your culture, empowering your brain to see red in a rose, hear trees fall, and understand your racing heart as joy in one situation and sorrow in another.

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This idea, called relational meaning, is familiar in quantum physics. As Carlo Rovelli beautifully explains in his latest book Helgoland, nature is not filled with permanent objects but with relations between quantities. When an electron is not interacting with anything, it has no physical properties. An electron only has a position or velocity relative to something else. The same is true for signals that arrive at the sensory surfaces of your body, whether the signals originate within your body or outside it. They become psychologically meaningful only in relation to the electrical and chemical activity in your brain a brain that continually creates a culturally-infused internal model of your body as it moves through the world.

Some experiences, like imagining the future and reliving events from the past, are constructed completely by the signals within your brain. Even some sensations are entirely your brains constructions. An example is the feeling of wetness. Your skin has no sensors for moisture, so how is it that you feel wet when you take a swim or get caught in the rain? Your brain constructs this sensation by combining physical signals from sensory surfaces for temperature and touch, and entwining them with other signals that reassemble your knowledge of what wetness feels like.

Everything you see, hear, smell, or taste; every touch you feel; and every action you take arises from a complex web of interwoven signals, and some of the most important signals are found only in your brain. Your brain does not detect features in the world and body; it constructs features to create meaning. Some constructed features are closer in detail to raw sensory data, such as lines and edges and color. Scientists call them physical features. Mental features are more abstract. When you appreciate a beautiful painting, the beauty is not in the painting; its created in your brain. When you eat a delicious dinner, the deliciousness is not in the meal but constructed in your head. The same goes for the last jerk who cut you off in traffic: You did not detect the drivers jerkiness; your brain constructed it as an ensemble of signals.

Relational meaning also holds a key to understanding how emotions work. If you watch a World Chess match and see a player scowl, it may seem that you are detecting anger in their face, but really you are experiencing that chess player as angry. That experience is constructed in your brain by giving meaning to sensory signals that have no objective emotional meaning of their own. Pursed lips, flushing skin, and of course, a rapid heart rate are not inherently emotional. These physical signals take on emotional meaning only in relation to other signals, some of which are your past experiences that have been wired into your brain by other people in your culture. In this complex web of context, a grandmasters scowl might mean anger (about 30% of the time, studies show), but the same scowl can also mean that they are concentrating hard or even that they have bad gas.

Magnus Carlsen. (Credit: Dean Mouhtaropoulos / Getty Images)

If you find some of these ideas unintuitive, Im right there with you. Relational meaning the idea that your experience of the world says as much about you as it does about the world is not extreme relativism. It is a realism that differs from the usual dichotomy drawn between materialism (reality exists in the world and you are just a spectator) and idealism (reality exists only in your head). It is an acknowledgment that the reality you inhabit is partly created by you. You are an architect of your own experience. Meaning is not infinitely malleable, but its much more malleable than people may think.

So, what does all this mean for everyday life? If physical signals from your body and the world only become meaningful to you in relation to signals created in your brain, this means you have a bit more responsibility than you might realize for how you experience and act in the world. For the most part, meaning-making is automatic and outside your awareness. When you were a child, other people curated the environment that wired experiences into your brain, seeding your brains internal model. Youre not responsible for this early wiring or the meanings it engenders, of course, but as an adult, you have the capacity to challenge those meanings and even change them. That is because your brain is always tweaking its internal model, creating the opportunity for new meanings with every new ensemble of signals it encounters.

To influence your internal model, you can effortfully seek out new meanings. You can expose yourself to people who think and act differently than you do, even if its uncomfortable (and it will be). The new experiences that you cultivate will manifest as signals in your brain and become raw material for your future experiences. In this way, you have some choice in how your brain gives meaning to a racing heart, whether its a chess champions or your own.

You dont have unlimited choice in this regard, but everyone has a bit more choice than they might realize. By embracing this responsibility, you grant yourself more agency in how you automatically make meaning and therefore over your reality and your life.

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Are you a spectator to reality? Or are you its creator? - Big Think

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Whiz kid from Indonesia earns master’s at University of Waterloo in physics at 17 – Waterloo Region Record

WATERLOO Cendikiawan Suryaatmadja of Indonesia is taking a break this summer before starting his PhD.

The 17-year-old is the third-youngest person in University of Waterloos history to graduate with a masters degree in physics, and he dreams about using the fundamental building blocks of the physical world to make it better.

I still have a long way to go, said Suryaatmadja during an interview at the Dana Porter Library on campus.

His research will focus on quantum information theory using quantum physics to manage the flow of information.

I think it is a very important field of physics, said Suryaatmadja. Its new, its emerging.

UW is a leading centre of research on quantum information theory, and the next generation of supercomputers that will use that research quantum computers.

You are essentially looking at things from the most fundamental and simplest level, and you just start to build a whole structure out of it, said Suryaatmadja.

After almost six years in Canada, Suryaatmadja is still not used to the changing weather and the need for so many clothes. He misses the warm, consistent weather of his home and the flavourful food of Indonesia.

Even a simple meal can have 12 to 14 spices, oh man, said Suryaatmadja. Im not saying the food in Canada is bad, but you guys use a lot of butter.

He also misses his family, and tries to speak with them every week. But he likes the diversity of Canada, especially around the UW campus.

You meet people with different ideas, different cultures, different perspectives, said Suryaatmadja. It really helps you think more critically, it really helps you get exposed to thoughts that are different from your own. I think Canada excels at that.

He grew up in Bogor, a city south of Jakarta on the Indonesian Island of Java. His first language is Indonesian, and Suryaatmadja taught himself English.

When Suryaatmadja started elementary school he was placed in Grade 3. After Grade 4 he studied on his own, and was recruited by UW when he was 12. Four years later he had completed a bachelors degree in mathematical physics with a minor in pure mathematics. It took more than a year to complete the masters and his PhD will also be done at UW.

Jeff Casello, UWs associate vice-president of graduate studies and post-doctoral affairs, calls Suryaatmadjas academic accomplishments remarkable.

Having the academic skills and personal drive to earn a masters degree at age 17 reflects a level of accomplishment that is incredibly rare, said Casello.

Suryaatmadja laughs at how it came about. He pressed the wrong button in the elevator at the institute in Bogor where he studied and prepared for math competitions. He walked off the elevator and into the arms of two UW recruiters Jean Lowry and Ken Seng Tan.

I just talked to them actually, said Suryaatmadja. This was before I graduated from high school.

At this point, he looks forward to a life of research that breaks new ground in physics and quantum information theory.

I just want to be a researcher. I dont know where. Lets see where things go. I still have a lot of time to make plans.

During the past six years hes joined many clubs on campus, and enjoys doing improv. He likes watching TV shows and movies that are comedies, or Sci-Fi blockbusters such as Dune and Blade Runner 2049. He enjoys Manga, DC Comics and books by Neil Gaiman, Terry Pratchett and graphic novels by Grant Morrison.

And I like walking a lot, especially in this weather, said Suryaatmadja.

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Whiz kid from Indonesia earns master's at University of Waterloo in physics at 17 - Waterloo Region Record

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Class of 2020 On-Campus Commencement Address by President Eisgruber ‘Entangled with Princeton’ – Princeton University

This address was given by President Christopher L. Eisgruber during the Class of 2020's Commencement ceremony in Princeton Stadium on Wednesday, May 18, 2022.

Remarks as delivered

As you know from prior experience, Princeton tradition allows the University president to say a few words to each graduating class at its Commencement exercises. Giving that address is a special privilege, and one that I cherish.

That privilege today feels even more extraordinary than usual, since this ceremony is unprecedented in the Universitys history. No class since World War II has had to wait two years for an in-person graduation. No previous class has shown your unique combination of persistence, achievement, and patience. The undergraduate and graduate alumni who make up the Great Class of 2020 will always have a special place in Princetons history.

This graduation speech is also different from others that I have given for another reason, which is that I have already had an opportunity to address the Class of 2020 at your virtual ceremony two years ago. I am honored, but also slightly daunted, by the opportunity to speak to you for a second time. What wisdom can I hope to offer to a class that has already heard one round of graduation speeches?

After considering this challenge for some time, I decided to share with you a quirky Princeton story that may perhaps, with some imagination, provide insight into what you have experienced over the last two years, and what you will experience in the years ahead.

The story begins in 1935, when Albert Einstein and two post-doctoral researchers named Boris Podolsky and Nathan Rosen published one of the most famous papers in the history of physics. All three were appointed at the Institute for Advanced Study, temporarily housed in what is now Jones Hall on the Princeton campus.

The paper was about quantum science, and it discussed a phenomenon that Einstein would later mock as spooky action at a distance. Quantum mechanics, the authors pointed out, rests on an other-worldly idea called superposition, which says that physical systems can be in a combination of two inconsistent states at once. A particle can be, for example, in a combination of an up state and a down stateit is both and neither, but if someone observes it, it immediately becomes either up or down, but not both.

In their paper, Einstein and his co-authors argued that these strange concepts led to the bizarre conclusion that observing a particle in one placefor example, right here on the Commencement stagecould instantly affect the state of another particle somewhere elsefor example, at the opposite end of this stadium, or in Hawaii, or, for that matter, out by some distant star.

Podolsky annoyed Einstein by leaking the paper to theNew York Times.Lots of professors, I can assure you, would love to leak their papers to theNew York Times. In general, theTimesdoes not care. But a paper by Einstein was a different matter.

TheTimesran the story on page 11 under the headline Einstein Attacks Quantum Theory. Podolsky told theTimesthat Einstein and his co-authors had proven that, even if quantum mechanics made plenty of correct predictions, its consequences were too strange to provide a complete description of the physical world.

Everything in that bold and controversial 1935 paper has proven correctexcept for its conclusion. What Einstein derided as spooky action at a distance, and what scientists now call quantum entanglement, is a feature of the physical worldone with increasingly important practical applications. When people talk about quantum computing, for example, they are talking about devices that use spooky action at a distance.

There is something marvelous in the fact that one of the most exciting and practically important fields of 21stcentury science depends on something that Albert Einstein, perhaps the greatest scientist of the 20thcentury, got emphatically wrong in one of his most famous papers.

That insight should give us all a dose of humility when we are tempted to declare, as Einstein did, that some novel idea is too bizarre to be true. And, conversely, we can perhaps all draw inspiration from the fact that new and genuinely strange ideas, beyond the ken of the greatest thinkers the world has known, sometimes contain profound truths.

Quantum mechanical properties apply at the microscopic level; we do not see them in our ordinary lives. But I sometimes thinkand here is where I need to call upon your imaginationsthat the strange metaphysics of the quantum world can provide an alternative perspective on the paradoxes and ambiguities that color our lives.

Take, for example, the idea of superposition, which says that a physical system can be a combination of two inconsistent states: up and down at the same time. Could one say that about what you have experienced over the past two years? In your senior spring, you were both at Princeton and not at Princeton. You graduated, and yet you did not. You were together, still Princetons Great Class of 2020, and yet you were apart.

And though it does not technically count as what Einstein would call spooky action at a distance, were you not throughout this period, are you not now, sublimely entangled with one another and with Princeton? You dispersed throughout the country and the world, yet you were also connected by shared challenges, memories, and your identity as a class. What happened here, and what happened to each of you, affected all of you.

Though I recognize that not every member of your class can be with us today, I hope that this day and this week nevertheless help to resolve the pandemics strange superposition of states so that we can now say emphatically: yes, the Great Class of 2020 is not only connected but together! Yes, the Great Class of 2020 has graduated in every sense of the word! And yes, the Great Class of 2020 is here, observed and observable, roaring like Tigers on this campus once again!

I hope, too, that you remain entangled with Princeton and with each other. All Princeton classes are, in my thoroughly biased opinion, great classes, but they are also distinct. They acquire their own identities and personalities. Some people speculate that the events of the last two years might weaken the bonds that tie you together. I predict the opposite: that your resilience and your creativity will make your connections to each other and your entanglement with Old Nassau ever stronger.

We shall see. For now, just let me say, on behalf of the faculty and administration, we are so glad that you are here! Welcome back! And to everyone in the Great Class of 2020, undergraduate and graduate alumni, I say congratulations, and I hope to see you back on this campus many times in the years to come. 2020: Congratulations!

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Class of 2020 On-Campus Commencement Address by President Eisgruber 'Entangled with Princeton' - Princeton University

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Russia Legalizing Bitcoin And Crypto Is A Matter of Time, Says Minister of Industry And Trade – Bitcoin Magazine

Denis Manturov, Minister of Industry and Trade of the Russian Federation, recently expressed his opinion that bitcoin and other cryptocurrencies being legalized in Russia is just a matter of time, according to a report from Russian state news agency TASS.

At an educational event called New Horizon, when asked whether or not Russia would be legalizing bitcoin or any other cryptocurrency, Manturov stated:

The question is when it will happen, how it will happen and how it will be regulated. Now both the Central Bank and the government are actively engaged in this.

Currently, Russian authorities are discussing the future of cryptocurrencies and mining. The Bank of Russia pushed for a complete ban on cryptocurrency, citing systemic threats to the current financial system.

The Ministry of Finance, however, has held the position that cryptocurrencies should be legal and well-regulated and PresidentVladimirPutin also pleaded with regulatory agencies to come to an agreement on the matter due to Russias natural resource advantages.

But everyone tends to understand that this is a trend of time, and sooner or later, in one format or another it will be carried out, said Manturov at the New Horizon event. But, once again, it should be legal, correct, in accordance with the rules that will be formulated.

This past February, the Russian government approved the concept of regulating bitcoin and other cryptocurrencies based on a proposal drafted by the Ministry of Finance. During the same month, the Ministry of Finance also submitted a bill.

The Ministry of Finance reportedly expects legislation regulating bitcoin and other cryptocurrencies will be introduced this year and is also working on the collection of tax as it relates to cryptocurrency.

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What to know as crypto such as Bitcoin and stablecoins plunge – NPR

A Bitcoin logo is seen during the Bitcoin 2022 Conference at Miami Beach Convention Center in Miami on April 8. Crypto such as Bitcoin have tumbled in recent days as part of a storm hitting all kinds of markets. Marco Bello/Getty Images hide caption

A Bitcoin logo is seen during the Bitcoin 2022 Conference at Miami Beach Convention Center in Miami on April 8. Crypto such as Bitcoin have tumbled in recent days as part of a storm hitting all kinds of markets.

As the old maxim goes, sometimes the bigger they are the harder they fall.

Bitcoin and other cryptocurrencies surged during the pandemic, turning many amateur investors into millionaires, on paper at least. Bitcoin, for example, hit an all-time of nearly $68,000 in November.

Today, it's trading at less than half that amount as part of an intense sell-off that has accelerated in recent weeks.

It's been even worse for an area of cryptocurrencies called stablecoins, in particular one called TerraUSD that has tumbled hard.

Here's a look at what's going on.

Put simply, cryptocurrencies got caught up in the maelstrom affecting broader markets.

Stocks, bonds and other assets have tumbled in recent weeks as investors fear the Federal Reserve will need to raise interest rates aggressively to fight inflation, raising the prospect of a recession.

The falls in broader markets have affected cryptocurrencies, with Bitcoin down more than 20% in the past two weeks.

The selloff has been worse for some of the newer cryptocurrencies such as Dogecoin, which started as a joke and then took off, in part, thanks to the support of billionaire Elon Musk.

It's a stark reversal from a few months ago, when actors such as Matt Damon and Larry David were pitching crypto companies in Super Bowl commercials.

Actor Matt Damon speaks onstage during Focus Features' "Stillwater" panel at the Deadline Contenders Film: New York event in New York City on Dec. 4. Damon has appeared in commercials for a company called Crypto.com. Michael Loccisano/Getty Images for Deadline hide caption

Actor Matt Damon speaks onstage during Focus Features' "Stillwater" panel at the Deadline Contenders Film: New York event in New York City on Dec. 4. Damon has appeared in commercials for a company called Crypto.com.

Yes, but it hasn't turned out to be one, at least so far.

Bitcoin was the first cryptocurrency and is still the most popular of them all.

Proponents of Bitcoin had long touted the digital currency as an inflation hedge, in part because there is a finite amount of it.

But Bitcoin has tumbled hard, along with stocks.

If Bitcoin was seen as a true hedge against inflation, it should be rallying given that inflation is at its highest in decades.

"A lot of people thought it would be an inflation hedge, but there's really very little data to prove that," says Randy Frederick, a managing director at Charles Schwab who covers cryptocurrencies. "Most recently, it has not moved up as the market has moved down. Had it been an inflation hedge, it might have done that."

In fact, Bitcoin is reacting just like any other riskier asset such as stocks.

Still, the argument of Bitcoin as an inflation hedge is not quite dead either, experts say.

Bitcoin may be the oldest of the cryptocurrencies, but it has only been around for just over a decade.

That means analysts don't have a lot of historical data. Frederick, for instance, says we'll know a lot more about how Bitcoin behaves through more market cycles.

A sign that reads "Bitcoin is going to the moon" is seen during the Bitcoin 2022 Conference at Miami Beach Convention Center in Miami on April 8. The expression has become popular among some Bitcoin enthusiasts. Marco Bello/Getty Images hide caption

A sign that reads "Bitcoin is going to the moon" is seen during the Bitcoin 2022 Conference at Miami Beach Convention Center in Miami on April 8. The expression has become popular among some Bitcoin enthusiasts.

Cryptocurrencies have spawned offshoots and led to more sophisticated or as some regulators see them, dangerous assets.

Stablecoins such as tether or USD Coin are a type of crypto that are gaining in popularity.

Most stablecoins are meant to be backed by real assets. That means that for every dollar-worth of a stablecoin, the exchange or the seller would need to set aside the equivalent in a real fiat currency, such as the dollar, or the equivalent amount in an easy-to-trade security such as government bonds.

That's what is supposed to make them more "stable." If the buyer of the stablecoin wanted to cash out of that virtual currency, it should be easy since the exchange is supposed to have the money at hand, similar to how bank customers expect to be able to withdraw their money at any time.

But regulators have long questioned whether exchanges really do keep those hard assets aside in an account. Moreover, stablecoins have created their own offshoots.

One of them, TerraUSD, has run into big trouble in recent days. TerraUSD is known as an algorithmic stablecoin because it relies on financial engineering to maintain the 1-to-1 peg between the stablecoin and the backup assets.

TerraUSD is even pegged to another cryptocurrency called Luna.

The stablecoin cratered to 14 cents as of Friday, well below the $1 it should theoretically be fetching.

Pat Tschosik, a senior portfolio strategist with Ned Davis Research, says TerraUSD's troubles could be part of a potential winnowing of cryptocurrencies.

"It's still really young," he says, of crypto. "You know, this is still a developing area. There is going to be speculation. There is going to be booms and busts along the way, and this is all still new."

Traders work on the floor of the New York Stock Exchange (NYSE) on May 12, 2022 in New York City. Stocks and other markets have tumbled in recent weeks over economic fears. Spencer Platt/Getty Images hide caption

Traders work on the floor of the New York Stock Exchange (NYSE) on May 12, 2022 in New York City. Stocks and other markets have tumbled in recent weeks over economic fears.

More broadly, the outlook for cryptocurrencies will likely continue to be tied to broader market sentiment.

But the falls in cryptocurrencies and the collapsing value of TerraUSD stand to alarm policymakers such as Treasury Secretary Janet Yellen and Securities and Exchange Commission Chair Gary Gensler.

That may lead to more regulation of cryptocurrencies in general.

Sustained falls in cryptocurrencies could also raise doubts about the future of the virtual money more broadly, just when there had been signs that it was trying to mature, with more and more professional investors starting to trade them.

Last month, Fidelity, the largest provider of retirement plans, announced it would allow employers to offer Bitcoin in 401(k) plans, although the Department of Labor has cautioned employers against doing that.

Still, cryptocurrencies also have a lot of fanatical followers who are used to steep selloffs and reversals, and many of them believe that this is a short-term decline.

Tschosik from Ned Davis Research, for example, is "long-term bullish on Bitcoin," he says. "We still see the acceptance of it continuing to expand."

He points to millennials, for example, who want to invest in cryptocurrencies because they seem as as a "legitimate option."

Not everybody agrees, however, leaving the future of cryptocurrencies uncertain.

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Crashes are the best times to get rich heres why Robert Kiyosaki thinks bitcoins plunge is great news and how you can take advantage of it – Yahoo…

Crashes are the best times to get rich heres why Robert Kiyosaki thinks bitcoins plunge is great news and how you can take advantage of it

Bitcoin is on a wild ride.

The worlds largest cryptocurrency soared to $68,990 last November. Now, its at around $29,000 a staggering 58% pullback from the peak.

If the downtrend continues, Rich Dad Poor Dad author Robert Kiyosaki says hes ready to start buying.

BITCOIN CRASHING. Great news, he tweeted last week. I am waiting for Bitcoin to crash to 20k. Will then wait for test of bottom which might be $17k. Once I know bottom is in I back up the truck. Crashes are the best times to get rich.

Kiyosaki added that bitcoin is the future of money and that its bottom may be even lower at $11,000.

In todays market environment, its not easy to be a contrarian investor. But if you share Kiyosakis view, here are three simple ways to capitalize on bitcoin's potential rebound.

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The first option is the most straightforward: If you want to buy bitcoin, just buy bitcoin.

These days, many platforms allow individual investors to buy and sell crypto. Just be aware that some exchanges charge up to 4% in commission fees for each transaction. So look for apps that charge low or even no commissions.

While bitcoin commands a five-figure price tag today, theres no need to buy a whole coin. Most exchanges allow you to start with as much money as you are willing to spend.

Exchange-traded funds have risen in popularity in recent years. They trade on stock exchanges, so its very convenient to buy and sell them. And now, investors can use them to get a piece of the bitcoin action, too.

For instance, ProShares Bitcoin Strategy ETF (BITO) started trading on NYSE Arca in October 2021, marking the first U.S. bitcoin-linked ETF on the market. The fund holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange and has an expense ratio of 0.95%.

Theres also the Valkyrie Bitcoin Strategy ETF (BTF), which made its debut a few days after BITO. This Nasdaq-listed ETF invests in bitcoin futures contracts, and charges an expense ratio of 0.95%.

Story continues

When companies tie some of their growth to the crypto market, their shares can often move in tandem with the coins.

First, we have bitcoin miners. The computing power doesnt come cheap and energy costs can be substantial. But if the price of bitcoin goes up, miners such as Riot Blockchain (RIOT) and Hut 8 Mining (HUT) will likely receive growing attention from investors.

Then there are intermediaries like Coinbase Global (COIN) and Paypal (PYPL). When more people buy, sell, and use crypto, these platforms stand to benefit.

Finally, there are companies that simply hold a lot of crypto on their balance sheets.

Case in point: enterprise software technologist MicroStrategy (MSTR). It has a market cap of $2.3 billion. Yet its bitcoin count reached 129,218 at the end of March, a stockpile worth around $3.8 billion.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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Crashes are the best times to get rich heres why Robert Kiyosaki thinks bitcoins plunge is great news and how you can take advantage of it - Yahoo...

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Bitcoin Gives Users Total Control Of Their Money – Bitcoin Magazine

The below is a direct excerpt of Marty's Bent Issue #1210: Bitcoin gives you control. Thats the fundamental value. Sign up for the newsletter here.

We're at the part of the bitcoin bear cycle where those in the mainstream who have derided the new monetary asset running on its own distributed network as nothing more than a ponzi for degenerate speculators and drug addicts are coming out of the woodwork to claim victory. If you've been paying attention to the headlines and talking heads you've likely heard phrases like:

"See, this is proof that bitcoin is too volatile and can never work as a store of value. Who wants to store value in an asset that fluctuates so violently?"

"It can't even work as a proper medium of exchange due to slow confirmation times and the amount of transactions per second that are supported by the blockchain."

"I told you so!"

These are nothing more than vapid phrases uttered by individuals looking to confirm their flawed biases while hoping that this is truly the bear market that sends bitcoin to zero. The problem for this class of critic is that their view of bitcoin is myopic, wholly focusing on the price at any given time and how rapidly it has fluctuated. While price is certainly an important aspect and a higher price can be viewed as much better than a lower price for bitcoiners, price alone does not capture the fundamental value of the network. A fundamental value that cannot be replicated by any other asset on the planet. As I said in the tweet at the top of this page, bitcoin provides individuals the world over with the ability to easily receive, save and send money in a self-sovereign fashion.

The fundamental value proposition of the network is control over those three functions. Every other monetary asset on the planet falls short of providing individuals with the type of control that bitcoin can provide. Short-term price volatility at the beginning stages of bitcoin's monetization phase is something I am more than happy with stomaching. Knowing that I actually control my money is a type of peace of mind that a fully stable monetary good being controlled by corrupted middlemen simply cannot provide.

I know I own x/21,000,000 of the total supply.

I know how my private-public key pairs were created because I made them myself.

I can verify that the bitcoin being sent to my wallet is actually bitcoin.

I can hold that bitcoin for as long as I want without the risk of a bank or payment processor denying me access to my funds because of the particular time of day, my political views or the need for a bail-in of the failing central banking system.

This level of control is extremely powerful. Despite recent and historical price volatility, I believe that more and more individuals across the planet will slowly but surely come to recognize the fundamental value proposition of this level of control over one's money. No amount of pundit screeching or schadenfreude will change the inherent control that the Bitcoin network gives an individual over their money. They can screech and laugh. I'll continue to preach and stack.

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NFL Defensive End Alex Barrett Is Taking 100% Of His Salary In Bitcoin – Bitcoin Magazine

Alex Barrett, defensive lineman for the San Francisco 49ers, has officially partnered with Bitwage to receive 100% of his paycheck in bitcoin, according to an exclusive press release sent to Bitcoin Magazine.

I stumbled across Bitwage in a Twitter Spaces room a few months ago when they announced that they were supporting UFC fighter Matheus Nicolau and his journey to get paid in bitcoin, Barret said. I was amazed by how Bitwage set this guy up so easily and with VIP service. I thought, why not me?

Shortly after that Twitter Space, Barrett began having meetings with Bitwage, a bitcoin payroll service provider, who then offered the NFL player tickets to Bitcoin 2022 the largest bitcoin conference in the world where the partnership was solidified.

When I came down to Miami, I saw the Bitcoin revolution in-person. I was bullish before, but something shifted in me, Barrett explained. I was completely sold, and getting to meet the Bitwage team was great. They treated me like their number-one priority, even before I was technically their client.

Bitwage allows anyone in the world to get paid in bitcoin without needing to onboard their employer. Users register with Bitwage and receive an account number linking to a bank account which is then given to their employer. Once money is paid to the account, Bitwage converts the money to BTC, in the amount determined by the user, and sends it to a bitcoin address the user controls.

The in-person onboarding made me feel like a valued part of the company, said Barrett. This personal touch was unlike anything Ive ever seen before. I definitely recommend them. But most importantly, I learned a lot. The company takes their time in helping athletes and influencers truly understand Bitcoin.

Barrett joins the ranks of professional athletes such as Matheus Nicolau, Achara Ifunanyachi, and Alex Crognale, who now accept their paychecks in bitcoin.

Its vitally important that we spread the knowledge and educate our VIPs so they become true sovereign individuals, said Jonathan Chester, CEO of Bitwage.But this treatment isnt exclusive to athletes and VIP customers: its available to anyone who signs up to our service.

Originally posted here:
NFL Defensive End Alex Barrett Is Taking 100% Of His Salary In Bitcoin - Bitcoin Magazine

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Yield Curves, Inversion, The Eurodollar And Bitcoin – Bitcoin Magazine

Link to tweet thread.

As Lyn Alden explains in this thread: the 10-2 curve is saying, we're probably getting close to a possible recession, but not confirmed, and probably many months away...

Lets break that down a bit, shall we?

First of all, what exactly is the yield curve that everyone seems to be talking about lately, and how is it tied to inflation, the Federal Reserve Board and possible recession?

The yield curve is basically a chart plotting all the current nominal (not including inflation) rates of each government-issued bond. Maturity is the term for a bond, and yield is the annual interest rate that a bond will pay the buyer.

A normal yield curve (this one from 2018) chart will typically look like this:

SOURCE: FRED, Federal Reserve Bank of St. Louis

The Fed sets what is called the federal funds rate, and this is the shortest interest rate you can get a quote on, as it is the rate (annualized) that the Fed suggests commercial banks borrow and lend their excess reserves to each other overnight. This rate is the benchmark that all other rates are priced from (or so, in theory).

As you can see, in a normal economic environment, the shorter the maturity of the bond, the lower the yield. This makes perfect sense in that, the shorter the time committed to lending money to someone, the less interest you would charge them for that agreed lockup period (term). So, how does this tell us anything about future economic downturns or possible recessions?

Thats where yield curve inversion comes into play and what we will tackle next.

When shorter-term bonds, like the 3-month or the 2-year, start to reflect a higher yield than longer-term bonds, 10-year or even 30-year, then we know there is expected trouble on the horizon. Basically, the market is telling you that investors are expecting rates to be lower in the future because of an economic slowdown or recession.

So, when we see something like this (e.g., August 2019):

SOURCE: FRED, Federal Reserve Bank of St. Louis

where the 3-month and 2-year bonds are yielding more than the 10-year bonds are, investors start to get nervous.

You will also sometimes see it expressed like below, showing the actual spread between the 2-year and the 10-year interest rates. Notice the momentary inversion back in August 2019 here:

SOURCE: FRED, Federal Reserve Bank of St. Louis

Why does it matter so much, if it is just an indication and not a reality yet?

Because inversion not only shows an expected downturn, but can actually wreak havoc in the lending markets themselves and cause problems for companies as well as consumers.

When short-term rates are higher than long-term, consumers who have adjustable-rate mortgages, home equity lines of credit, personal loans and credit card debt will see payments go up because of the rise in short-term rates.

Also, profit margins fall for companies that borrow at short-term rates and lend at long-term rates, like many banks. This spread collapsing causes a sharp downturn in profits for them. So they are less willing to lend at a reduced spread, and this only perpetuates borrowing problems for many consumers.

Its a painful feedback loop for all.

No surprise, the Fed has an answer to all this dont they always? In the form of what we call yield curve control (YCC). This is basically the Fed setting a target level for rates, then entering the open market and buying short-term paper (1-month to 2-year bonds, typically) and/or selling long-term paper (10-year to 30-year bonds).

The buying drives the short-term bond interest rates lower and the selling drives the long-term bond interest rates higher, thereby normalizing the curve to a healthier state.

Of course, theres a cost to all this with the likely expansion of the Feds balance sheet and further expansion of the money supply, especially when the open market does not participate at the level necessary for the Fed to achieve its targeted rates.

Result? Possible exacerbated inflation, even in the face of a contracting economy. Which is what we call stagflation. Unless the control of the curve helps head off a pending recession and economic expansion resumes: a big if.

A eurodollar bond is a U.S. dollar-denominated bond issued by a foreign company and held in a foreign bank outside both the U.S. and the issuer's home country. A bit confusing, as the prefix euro is a blanket reference to all foreign, not just European companies and banks.

More importantly, and in our context here, eurodollar futures are interest-rate-based futures contracts on the eurodollar, with a three-month maturity.

To put it simply, these futures will trade at what the market expects U.S. 3-month interest rate levels will be in the future. They are an additional data point and indicator of when the market expects interest rates to peak. (This is also known as the terminal rate of the Fed cycle.)

For instance, if the December 2023 eurodollar contract shows an implied rate of 2.3% and the rates declining to 2.1% in the March 2024 contract, then the expected peak for the fed funds rate would be at the end of 2023 or early 2024.

Simple as that, and just another place to look for clues of what investors are thinking and expecting.

Lets say youre watching rates closely and hearing that the Fed is going to start using YCC to manage the rate curve, thereby printing more money and, in turn, likely causing more long-term inflation. And what if inflation somehow gets out of control? How can you protect yourself?

It doesnt matter when you are reading this, as long as the world is still operating primarily with fiat (government-issued and backed) money, bitcoin remains a hedge versus inflation and insurance against hyperinflation. I wrote a simple but thorough thread about that here:

Link to tweet thread.

To identify the inflation hedge attributes of Bitcoin, its simple really. Because Bitcoin is governed by a mathematical formula (not a board of directors, CEO, or founder), the supply of bitcoin is absolutely limited to 21 million total.

Furthermore, with a truly decentralized network (the computers that collectively govern the Bitcoin algorithm, mining, and transaction settlements), settled transactions and total number of bitcoin to be minted will never change. Bitcoin is therefore immutable.

In other words, Bitcoin is safe.

Whether or not the price of bitcoin (BTC) is volatile in the short term does not matter as much as the fact that we know the value of the U.S. dollar continues to decline. And in the long term and in total, as the dollar declines, BTC appreciates. It is therefore a hedge against long-term inflation of not just the U.S. dollar, but any government-issued fiat currency.

The best part? Each single bitcoin is made up of 100 million pennies (actually the smallest unit of bitcoin - 0.00000001 btc - is called satoshis, or sats), and one can therefore buy as much or as little they can or want to in a single transaction.

$5 or $500 million: You name it, Bitcoin can handle it.

This is a guest post by James Lavish. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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Yield Curves, Inversion, The Eurodollar And Bitcoin - Bitcoin Magazine

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Kwik Trip To Offer Bitcoin ATMs – WJON News

UNDATED -- Youll soon be able to trade Bitcoin at Kwik Trip.

Texas-based Coinbase has announced plans to put Bitcoin ATMs in the more than 800 Kwik Trip locations across Minnesota, Wisconsin, Illinois and Iowa.

According to a news release Monday, officials from Coinbase say theyll offer record low rates for transactions with no hidden or miner fees. Sheffield Clark, CEO of Coinsource, is happy with the partnership.

Partnering with Kwik Trip made perfect sense as it enables us to continue our mission of making crypto accessible to every American at phenomenally low rates, especially at a time when traditional economic systems have shown weaknesses. It is our top priority to place our machines in essential, convenient locations, because Bitcoin is becoming increasingly essential to Americans.

In addition, Kwik Trip Rewards members will receive even lower rates. Dave Wagner, Controller of Kwik Trip explains

We are delighted to be partnering with Coinsource and facilitating simple access to Bitcoin for our customers. We understand Coinsources aim of providing the fastest, easiest and most secure way to buy and sell cryptocurrencies and how a key part of this is placing the Bitcoin ATMs in convenient and easily accessible locations. As an added benefit, we know our customers are getting the best deal since Coinsource has the lowest proven rates plus industry-leading compliance, which really sealed the deal.

The Bitcoin rollout has already begun, including some stores in St. Cloud offering the new service.

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Kwik Trip To Offer Bitcoin ATMs - WJON News

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