asic

The summer of natural disasters has put the focus on Australian insurers, as communities smashed by floods, fires, and cyclones try to rebuild.

But those efforts come amid a 50 per cent increase in complaints about insurance companies, with the dissatisfaction stretching well beyond natural disasters.

Kym Ellery, the founder of collapsed Australian fashion label Ellery Land, tells reporter Rachael Brown that business collapses are sometimes the price of working in the fashion industry.

Kia ora,

Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.

I'm David Chaston and this is the international edition from Interest.co.nz.

And today we lead with news bond markets are coming around to believing the US Fed signals, reversing their view that their call for high rates was 'just talk'.

But first, US jobless claims stayed up at 250,000 last week at about the level expected. There are 1.67 mln people still on these benefits unchanged as well and also staying up. Although both are now higher than year-ago levels, they remain historically low and don't alter the underlying tightness of their labour market. But you do get a sense the next movement will be an unwinding of their benign labour market conditions.

The Chicago Fed's National Activity Index turned marginally negative in May after a positive showing in April.

The Kansas City Fed's regional factory survey turned more negative in June as well, as did the Conference Board's index of leading indicators. Both were as expected.

Meanwhile American existing home sales edged marginally higher and by more than expected in May, an improvement on the April retreat.

China is on vacation for its Dragon Boat Festival, a three day break. They are expecting more than 100 mln tourist trips this year which is actually higher than pre-pandemic levels.

Although still deeply negative and below its long term average, EU consumer sentiment rose in June to keep the improvement that started in November going. And it is worth noting that this is now one of the steepest continuous rise in sentiment since this survey began in 2007 and the pace of improvement shows no sign of slowing down.

Overnight both Norway and England raised rates by more than expected. In Norway's case they rose +50 bps to 3.75%. In the UK case they also rose +50 bps to 5.0%. In both cases markets had expected a +25 bps rise. Norway has inflation running at 6.7% and the UK has it running at +8.7%, so both central bank policy makers clearly realised they aren't leaning against these price pressures hard enough. And the more important regional benchmark is the ECB policy rate which is 4.0% which was raised by +25 bps last week with inflation at 6.1%. With the ECB positions as backdrop the English and Norwegian rate increases make regional sense.

Separately, the central bank of Turkey raised its policy rate from 8.5% to 15% in the expected reversal of the prior unorthodox approach that brought raging inflation. You will recall that post-election the President changed out both his Finance minister and the head of their central bank in a clear signal things would change. Actually the +650 bps hike was less than markets had expected. Markets were expecting a bigger increase to 21%. The Turkish lira sank on a decision seen as timid.

In the widely-watched rankings of 'liveable cities', Vienna, Copenhagen, Sydney and Melbourne took out the top four spots in 2023. Auckland rose sharply to #10 and Wellington to #23. In conjunction with open borders, this is driving Sydney house prices higher.

And staying in Australia, regulator ASIC said 5.6 mln policy holders are on track to receive AU$815 mln in compensation after they uncovered pricing failures by 11 general insurers that led to clients being overcharged for their insurance. 6.5 mln policies were involved between January 2018 and October 2021.

The cost of shipping containers continues to fall, down -3.5% again last week. It is saying something about the state of global trade and it is not positive. The bulk cargo shipping costs are however rising again and are at about at a long-run average level

The UST 10yr yield will start today rising at 3.79% and up +7 bps. 

The price of gold will start today down another -US$19 at US$1916/oz and it hasn't been this low since early March.

And oil prices are down a sharp -US$3.50 from yesterday to now be just over US$69/bbl in the US. The international Brent price is now just on US$74/bbl.

The Kiwi dollar starts today at 61.8 USc and down -¼c from yesterday. Against the Aussie we are marginally firmer at 91.5 AUc. Against the euro we are little-changed at 56.4 euro cents. That means the TWI-5 is now just on 69.8 and also little-changed.

The bitcoin price has firmed slightly from this time yesterday and now at US$30,132 with minor rise of +0.3%. Volatility over the past 24 hours has been modest at just over +/- 1.6% in sharp contrast to the past few days.

You can find links to the articles mentioned today in our show notes.

You can get more news affecting the economy in New Zealand from interest.co.nz.

Kia ora. I'm David Chaston. And we will do this again on Monday.

Kia ora,

Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.

I'm David Chaston and this is the international edition from Interest.co.nz.

And today we lead with news all dominated by the US Fed decision which is playing out in real time as you hear this.

They have raised their policy rate by +25 bps to 5.0% today as widely expected.

But the outlook was more hawkish than expected. "The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time." and "the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective."

Their official note hardly noted the banking crisis. It is essentially all about fighting inflation. That means the upcoming Powell press conference will be focused on that.

Markets reacted with the expectation that bond markets will be taking more pain and benchmark yields eased slightly. Equities jumped on the modest rate hike. The USD fell, but only relatively modestly.

Of course these are just initial reactions. After the backgrounding from Powell at 7:30 am NZT there could well be more dramatic reactions.

Meanwhile, the recovery of the long-dormant US housing market took another step last week. Mortgage applications rose +3% last week, a third consecutive week of increases. Their 30 year benchmark mortgage rate fell by -23 bps to 6.48%, declining for a second consecutive week. Having noted these changes we should also note it is early days. Mortgage applications are still down -36% from a year ago, and mortgage rates are up from 4.16% a year ago.

Things are not so good in the commercial and office real estate sector. Office tower owners face pressure on two fronts: borrowing costs and vacancies. And bankruptcies are starting to emerge with two big landlords succumbing in the past few days. More than 17% of the US office supply is vacant and an additional 4.3% available for sublease. Nearly $US92 bln in debt for those properties from non-bank lenders comes due this year, and another $US58 bln will mature in 2024. We are likely going to see a cascade of landlord defaults and the global office and commercial market get significantly re-rated. New Zealand and Australia won't be spared these markdowns even if vacancy rates stay tolerable. Lenders everywhere will derisk.

In northern China and around Beijing, they are getting their worst air pollution is years. It is as much environmental as industrial.

In the UK where they released February CPI data overnight, they didn't get the retreat below 10% they expected. In fact, CPI inflation rose to +10.4% with a rise from January running at a rate exceeding +13% pa. Inflation is biting its hardest there since their October surge. This is all a somewhat surprising result because Germany, Italy and Spain are all recording slowing or lower inflation rates. French inflation is similar to the UK, even if not quite as high.

In Australia, ASIC has told their superannuation fund managers they must revalue their asset portfolio to market conditions much more frequently in the current environment, recognising the market repricing even for unlisted asset valuations. At the same time, they are on the warpath looking for greenwashing.

The UST 10yr yield starts today at 3.55% and down -4 bps from this time yesterday. 

The price of gold will open today at US$1948/oz and up +US$7 from this time yesterday.

And oil prices start today up  +US$1 from yesterday at just under US$70.50/bbl in the US. The international Brent price is now just under US$76/bbl.

The Kiwi dollar is up almost +1c against the USD and now at 62.5 USc after the Fed decision. Against the Aussie we are +¼c firmer at 93.1 AUc. Against the euro we are also a little firmer at 57.6 euro cents. That puts the TWI-5 back up at 70.4 with a +50 bps gain.

The bitcoin price is marginally higher today, now at US$28,685 and up +0.7% from this time yesterday. And volatility over the past 24 hours has been modest however at +/-1.4%.

You can find links to the articles mentioned today in our show notes.

And get more news affecting the economy in New Zealand from interest.co.nz.

Kia ora. I'm David Chaston and we’ll do this again tomorrow.

Kia ora,

Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.

I'm David Chaston and this is the international edition from Interest.co.nz.

And today we lead with news the world seems to be settling in to a low-growth high-inflation period, not quite stagflation but disarmingly close.

In the US, retail sales last week on a same store basis were up +5.3% from year-ago levels, unchanged in a week, and hardly accounting for inflation.

American inventories were little-changed in January from December. But that can't hide the fact that retail stocks of goods are +12% from year-ago levels and wholesale stocks are up +16% on the same basis. Still, it is probably good that that expansion seems to have stopped, and that some of it is "just inflation".

Meanwhile, American exports slipped in January from December to be up less than +12% in a year. But imports rose marginally on the same basis but are only up +2% year-on-year. That means their merchandise trade deficit rose to almost -US$89.3 bln in the month from December, but is actually -US$11 bln less than the same month in 2022.

The Chicago industrial heartland isn't in its best shape, with declining activity, according to the ISM Chicago PMI for February. It is contracting at a pace that is uncomfortable for them but at least there is light ahead - New Orders, Order Backlogs, and Supplier Deliveries increased.

The situation is similar in the Richmond Fed district's factory survey in the mid-Atlantic states region. New order levels are quite weak here, but those firms surveyed expected them to pick up soon.

Consumers are less optimistic than expected. The Conference Board consumer sentiment survey was expected to improve from a modest net positive. But it actually slipped back in February - still positive, but less so than expected. It was their view of business conditions that lagged. Their view of the American labour market was more positive.

The Canadian economy was unchanged in Q4-2022 from the prior quarter, putting an end to five consecutive quarters of growth and following a +2.3% pa expansion in Q3. That was a disappointment. Markets had expected a modest +1.5% Q4 boost.

India said they ended 2022 with less of a tailwind. Their Q4-2022 GDP data shows their economy expanded +4.4% from year-ago levels, well below the +6.3% in the three months to September. Analysts expected +4.6%. Private spending which accounts for almost two thirds of their GDP slowed sharply. Still, India's expansion is outpacing China at present.

In Japan, their retail sales came in very strong in January, up +6.3% when a +4% rise was expected, and compared with a +3.8% rise in December. But things were not so great for their industrial production, which fell a sharpish -4.6% in January.

Both Spain and France reported February inflation levels overnight and both came in higher than in January. Bond markets noticed.

In Australia, it is becoming clearer that their immigration surge is turning the housing market prospects around from 'negative' to 'balanced', according to Westpac. They report a material tightening in rental markets. Continued net inflows and subdued levels of new building mean a sustained further tightening across the wider market is likely in coming years. These forces are likely to push the current focus on inflation and interest rates into the background there.

Even though retailer Harvey Norman said its sales were down -10% in January, national Australian retail sales surprised on the upside, coming in up +1.9% from December and up +7.5% from a year ago. These rises are not inflation adjusted however. But they do follow a sharp retreat in December. Yesterday the share market was not kind to the Harvey Norman share price which was down -12.5.

Staying in Australia, regulator ASIC has launched its first court action against alleged greenwashing conduct, commencing civil penalty proceedings in the Federal Court against Mercer Superannuation for allegedly making misleading statements about the sustainable nature and characteristics of some of its superannuation investment options. ASIC alleged Mercer, which oversees A$27.5 billion in assets, misled members of its Sustainable Plus fund by claiming it excluded companies that were involved in carbon intensive fossil fuels but then heavily invested in 15 stocks from the sector including AGL Energy, BHP, Glencore and Whitehaven Coal.

The UST 10yr yield starts today at 3.93% and up +1 bp. 

The price of gold will open today at US$1828/oz and up +US$11 since yesterday.

But oil prices start today up +US$1.50 at just on US$77.50/bbl in the US. The international Brent price is just over US$83.50/bbl.

The Kiwi dollar is up almost +½c at just under 62 USc. Against the Aussie we are firmer at 91.8 AUc. Against the euro we are firmish at 58.4 euro cents. That all takes the TWI-5 to 70.3 and up +30 bps.

Bitcoin is still within its recent narrow range, now at US$23,450, up +0.3% from this time yesterday. And volatility over the past 24 yours has remained quite modest at +/-1.0%.

You can find links to the articles mentioned today in our show notes.

And get more news affecting the economy in New Zealand from interest.co.nz.

Kia ora. I'm David Chaston and we’ll do this again tomorrow.

In this episode, we speak with Rain.AI CTO Jack Kendall about his timelines for the arrival of AGI. He also speaks to how we might get there and some of the implications.

Hosted by Soroush Pour. Follow me for more AGI content:
Twitter: https://twitter.com/soroushjp
LinkedIn: https://www.linkedin.com/in/soroushjp/

Show links

• Jack Kendall
  • Bio: Jack invented a new method for connecting artificial silicon neurons using coaxial nanowires at the U. Florida before starting Rain as co-founder and CTO.
  • LinkedIn: https://www.linkedin.com/in/jack-kendall-21072887/
  • Website: https://rain.ai
• Further resources
  • Try out ChatGPT: https://openai.com/blog/chatgpt/
  • Judea Pearl's book, "The Book of Why"
  • [Paper] https://www.deepmind.com/publications/causal-reasoning-from-meta-reinforcement-learning
  • [Paper] Backpropagation and the Brain: https://www.nature.com/articles/s41583-020-0277-3

This is a second version of this podcast correcting a bad upload earlier.

--------------------

Kia ora,

Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.

I'm David Chaston and this is the International edition from Interest.co.nz.

Today we lead with news OPEC has sided with Russia and approved an outsized production cut of 2 mln bbd in a bid to raise oil prices sharply.

But first, the US services sector continues to expand at a healthy clip, according to the widely-watched ISM survey for September. New order flows remain strong. This was enough to cause bond yields to rise. However the ISM survey was a much more positive survey than the internationally-benchmarked Markit one which says the sector is improving but not really expanding.

We get a US non-farm payrolls report on Saturday and the expectation is that another +250,000 new jobs will have been created in September. Today the ADP Employment Report said their survey points to +208,000 new private sector jobs. They see the US services sector expanding at a moderate pace, but the manufacturing sector shedding jobs at a minor pace.

Last week, American mortgage applications resumed their downward track, mainly because mortgage interest rates continue to push higher. Their benchmark 30 year fixed rate is now up to 6.75% plus points, its highest level in sixteen years.

The US trade deficit is also on a lower track. It came in at -US$67.4 bln in August in data out today, and its lowest since May 2021. Exports are holding but imports are falling.

Interestingly, the Atlanta Fed's GDP Now real time monitoring suggests that American economic activity has been picking up to a healthy +3% pa rate over the past few weeks.

Canada reported a smaller trade surplus for August, at about half its expected level. In their case, exports fell more than imports.

But Canada also reported building permit levels for August and they were very much higher than expected, driven by multi-family units

Japan reported its September service sector activity and that improved to a good expansion after a brief dip in August.

Australia reported a small rise in retail sales in August from July, but not by enough to be more than inflation. However, year-on-year it is, with this retail activity up more than +19% on that basis. The August result would have been better if sales in Victoria and Queensland had been better, and if clothing and cars had been better. Outside of those, the August expansion was pretty good, especially for household goods and department store retailing.

And Australian regulator ASIC is suing Harvey Norman and Latitude Finance for promoting “no deposit” and “interest-free” payment methods that saddled some customers with an extra $537 in fees.

The UST 10yr yield starts today at 3.76% and up +13 bps from this time yesterday. 

The price of gold will open today at US$1715/oz. This is down -US$7 from this time yesterday.

And oil prices start today up +US$1.50 from yesterday at just under US$87.50/bbl in the US while the international Brent price has risen to be just over US$93/bbl.

OPEC+ (which includes Russia) made deep cuts to its oil output targets, double what was expected, curbing supply in an already tight market despite pressure from the United States and others to pump more. The US is especially unhappy with the size of the cut. This cut is spurring a rise in oil prices that have dropped from US$120 three months ago.

The Kiwi dollar will open today at 57.1 USc and nearly -½c lower than where we that this time yesterday. Against the Australian dollar we are soft at 88.2 AUc. Against the euro we are firm at 57.9 euro cents. That all means our TWI-5 starts today at 67.2, and little-changed since this time yesterday.

The bitcoin price is now at US$20,274 and up another +1.4% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.8%.

You can find links to the articles mentioned today in our show notes.

And get more news affecting the economy in New Zealand from interest.co.nz.

Kia ora. I'm David Chaston and we’ll do this again tomorrow.

Kia ora,

Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.

I'm David Chaston and this is the International edition from Interest.co.nz.

Today we lead with news OPEC has sided with Russia and approved an outsized production cut of 2 mln bbd in a bid to raise oil prices sharply.

But first, the US services sector continues to expand at a healthy clip, according to the widely-watched ISM survey for September. New order flows remain strong. This was enough to cause bond yields to rise. However the ISM survey was a much more positive survey than the internationally-benchmarked Markit one which says the sector is improving but not really expanding.

We get a US non-farm payrolls report on Saturday and the expectation is that another +250,000 new jobs will have been created in September. Today the ADP Employment Report said their survey points to +208,000 new private sector jobs. They see the US services sector expanding at a moderate pace, but the manufacturing sector shedding jobs at a minor pace.

Last week, American mortgage applications resumed their downward track, mainly because mortgage interest rates continue to push higher. Their benchmark 30 year fixed rate is now up to 6.75% plus points, its highest level in sixteen years.

The US trade deficit is also on a lower track. It came in at -US$67.4 bln in August in data out today, and its lowest since May 2021. Exports are holding but imports are falling.

Interestingly, the Atlanta Fed's GDP Now real time monitoring suggests that American economic activity has been picking up to a healthy +3% pa rate over the past few weeks.

Canada reported a smaller trade surplus for August, at about half its expected level. In their case, exports fell more than imports.

But Canada also reported building permit levels for August and they were very much higher than expected, driven by multi-family units

Japan reported its September service sector activity and that improved to a good expansion after a brief dip in August.

Australia reported a small rise in retail sales in August from July, but not by enough to be more than inflation. However, year-on-year it is, with this retail activity up more than +19% on that basis. The August result would have been better if sales in Victoria and Queensland had been better, and if clothing and cars had been better. Outside of those, the August expansion was pretty good, especially for household goods and department store retailing.

And Australian regulator ASIC is suing Harvey Norman and Latitude Finance for promoting “no deposit” and “interest-free” payment methods that saddled some customers with an extra $537 in fees.

The UST 10yr yield starts today at 3.76% and up +13 bps from this time yesterday. 

The price of gold will open today at US$1715/oz. This is down -US$7 from this time yesterday.

And oil prices start today up +US$1.50 from yesterday at just under US$87.50/bbl in the US while the international Brent price has risen to be just over US$93/bbl.

OPEC+ (which includes Russia) made deep cuts to its oil output targets, double what was expected, curbing supply in an already tight market despite pressure from the United States and others to pump more. The US is especially unhappy with the size of the cut. This cut is spurring a rise in oil prices that have dropped from US$120 three months ago.

The Kiwi dollar will open today at 57.1 USc and nearly -½c lower than where we that this time yesterday. Against the Australian dollar we are soft at 88.2 AUc. Against the euro we are firm at 57.9 euro cents. That all means our TWI-5 starts today at 67.2, and little-changed since this time yesterday.

The bitcoin price is now at US$20,274 and up another +1.4% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.8%.

You can find links to the articles mentioned today in our show notes.

And get more news affecting the economy in New Zealand from interest.co.nz.

Kia ora. I'm David Chaston and we’ll do this again tomorrow.

Is mining at home profitable? That depends on which coins you’re mining, the hashing difficulty of the network, the equipment you’re using, and the price of electricity where you’re mining.

I'll teach you what you need to know to get started with mining and make your setup more profitable. 

For an intro to what Mining is, watch “How Mining Works”
https://youtu.be/Nn6TWD5pCoA

00:00 Intro
00:38 Why Mine?
01:52 Equipment
06:00 Hosting Facilities
08:13 Repurposing your Gaming Computer
08:54 Energy Costs
10:12 Best Places for Crypto Mining
11:19 Hashing Difficulty
12:42 Tricks to Increase Profits
14:29 CAT!!!

Huge thank you to Marshall Long and Will Foxely for chatting with me!

Brought to you by NBTV members: Lee Rennie, Emily Kotow, Will Sandoval, and Naomi Brockwell

To make a tax-deductible (in the US) donation to NBTV, visit https://www.nbtv.media/support

Sign up for the free CryptoBeat newsletter here:
https://cryptobeat.substack.com/

Beware of scammers, I will never give you a phone number or reach out to you with investment advice. I do not give investment advice.

Visit the NBTV website:
https://nbtv.media

Is mining at home profitable? That depends on which coins you’re mining, the hashing difficulty of the network, the equipment you’re using, and the price of electricity where you’re mining.

I'll teach you what you need to know to get started with mining and make your setup more profitable. 

For an intro to what Mining is, watch “How Mining Works”
https://youtu.be/Nn6TWD5pCoA

00:00 Intro
00:38 Why Mine?
01:52 Equipment
06:00 Hosting Facilities
08:13 Repurposing your Gaming Computer
08:54 Energy Costs
10:12 Best Places for Crypto Mining
11:19 Hashing Difficulty
12:42 Tricks to Increase Profits
14:29 CAT!!!

Huge thank you to Marshall Long and Will Foxely for chatting with me!

Brought to you by NBTV members: Lee Rennie, Emily Kotow, Will Sandoval, and Naomi Brockwell

To make a tax-deductible (in the US) donation to NBTV, visit https://www.nbtv.media/support

Sign up for the free CryptoBeat newsletter here:
https://cryptobeat.substack.com/

Beware of scammers, I will never give you a phone number or reach out to you with investment advice. I do not give investment advice.

Visit the NBTV website:
https://nbtv.media

Governance and compliance are so important for not-for-profits in Australia. What are the difference between a compliance-mindset and a governance-mindset? Listen to find out my tips and tricks and make sure your governance and compliance are always up to scratch.

Connect with me on LinkedIn https://www.linkedin.com/in/justin-hogg-right-source/

Connect with me on LinkedIn or visit our website rightsource.com.au

If you have any questions, are in the process of starting up an NFP, or interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Visit the downloads page to access helpful accounting spreadsheets, templates and budgets.

Right Source Empowering Your Purpose Is Ours.

The ever-widening availability of FPGAs has opened the door to solving a broad set of performance-critical problems in hardware.  In this episode, Ron speaks with Andy Ray, who leads Jane Street’s hardware design team. Andy has a long career prior to Jane Street shipping hardware designs for things like modems and video codecs. That work led him to create Hardcaml, a domain-specific language for expressing hardware designs. Ron and Andy talk about the current state-of-the-art in hardware tooling, the economics of FPGAs, and how the process of designing hardware can be improved by applying lessons from software engineering.

You can find the transcript for this episode along with links to related work on our website.

On this roundtable discussion Dee and Corey give a big announcement  about the Network. They are also  joined by  Guest Host The First Gentleman Kevin Monahan to talk about investing, mining, and YAMS. Our guest this episode is  Russell Cann of Core Scientific.

Links:Core Scientific

• Website
• Hashing It Out EP #90- Ian Ferreira- Core Scientific

Bitcoin Network Social Media

Join-Slack

Donate!

• Discuss

Logos Press Engine includes Logos Podcast and Hashing It Out. Hashing it Out dives into the mechanisms and hardware of the technology that aid in making sovereign communities. 

On this roundtable discussion Dee and Corey give a big announcement  about the Network. They are also  joined by  Guest Host The First Gentleman Kevin Monahan to talk about investing, mining, and YAMS. Our guest this episode is  Russell Cann of Core Scientific.

Links:Core Scientific

• Website
• Hashing It Out EP #90- Ian Ferreira- Core Scientific

Bitcoin Network Social Media

Join-Slack

Donate!

• Discuss

Logos Press Engine includes Logos Podcast and Hashing It Out. Hashing it Out dives into the mechanisms and hardware of the technology that aid in making sovereign communities. 

BallCourt - The World of Basketball - Quarantine Edition

This week Coach Drew talks about the topics in sports for the week.  Including:
    ◦    NBA to resume season .
    ◦    Bullets Legend Wes Unseld passes away
    ◦    Kings Broadcaster  resigns after tweet to DeMarcus Cousins
 

Ladies first. -     ◦    Sparks acquire Kristine Anigwe in trade with Dallas
Los Angeles Sparks Acquire Kristine Anigwe From Dallas Wings -
    ◦     WNBA eyes Florida or Las Vegas for season return.

World of Basketball 🏀 -     ◦    Chinese Basketball Association to return June 20 after nearly 5 months off.

This day In Basketball History  ◦    Kobe to Shaq : June 4, 2000 Lakers vs Blazers

Why you ball?  ◦    Mikey Williams considering an HBCU can change college sports

Let’s kick it    ◦    Nike Air Max 90 Jewel  “Home and Away” $130    ◦    Reebok Shaqnosis USA colorway $190    ◦    ASIC Gel -Lyte 3 “Dragon Fruit” $110

Sponsor:  Cash2Checking  

See omnystudio.com/listener for privacy information.

In this episode, we explore the incentives of both consensus systems and defi with Tarun Chitra is the Founder & CEO of Gauntlet. Tarun is applying his experience of AI and financial simulation to blockchains. Using ‘agent-based simulation’ he helps protocol designers to discover unexpected strategies to extract more than their share of value.

Links:Gauntlet.Network

• Website
• Twitter
• Twitter-Tarun Chitra

The Bitcoin Podcast Network Social Media

• Slack

Donate to Hashing It Out

Discuss

Logos Press Engine includes Logos Podcast and Hashing It Out. Hashing it Out dives into the mechanisms and hardware of the technology that aid in making sovereign communities. 

In this episode, we explore the incentives of both consensus systems and defi with Tarun Chitra is the Founder & CEO of Gauntlet. Tarun is applying his experience of AI and financial simulation to blockchains. Using ‘agent-based simulation’ he helps protocol designers to discover unexpected strategies to extract more than their share of value.

Links:Gauntlet.Network

• Website
• Twitter
• Twitter-Tarun Chitra

The Bitcoin Podcast Network Social Media

• Slack

Donate to Hashing It Out

Discuss

Logos Press Engine includes Logos Podcast and Hashing It Out. Hashing it Out dives into the mechanisms and hardware of the technology that aid in making sovereign communities. 

Genesis Mining is a leading hash power provider offering cloud cryptocurrency mining as a service. They offer mining for Bitcoin, Zcash, Dash, Ethereum, Litecoin, and Monero and serve over 2 million users in 100+ countries. The company was formed in 2013 and saw tremendous growth in its seven years in operation. In the mining business, process optimization, controlling costs, and vertical integration are key. Crypto prices, difficulty adjustments, hardware availability – all can have an impact on profits.

Co-founder & CEO Marco Streng shares how he built his company from the ground up, and is now expanding beyond crypto to address other profitable markets in cloud computing.

Topics covered in this episode:

• Marco's background and how he started Genesis Mining
• The biggest challenges they faced in the early days
• The company's cost structures and vertical integration
• Why they got into cloud computing and the applications of GPUs
• The major shifts in the mining industry since they were founded
• The ecological footprint of mining
• Why people would buy cloud mining and its profitability opportunities
• The risk of mining centralization
• Bitcoin halving and the impacts of this on the mining industry
• Marco's views on Proof of Stake

Episode links:

• Genesis Mining website
• Bitcoin Halving - What to Expect as a Miner
• Genesis Group
• Genesis Cloud
• Genesis Mining Twitter
• Marco Streng Twitter

This episode is hosted by Sebastien Couture & Brian Fabian Crain. Show notes and listening options: epicenter.tv/338

Links:

Website- Handshake

Website- Namebase

Website- Zeit

Website- NextDNS

Twitter- Namebase

Twitter- Tieshun Roquerre

Twitter- HandShake

AIRDROP

Sponsor

Status Website

Status APP

DAPPS Website

DAPPS Email

AD Music One:Josh Woodward Release

AD Music Two: Pictures of the Floating- World Bumbling

Donate to Hashing It Out

Discuss

Logos Press Engine includes Logos Podcast and Hashing It Out. Hashing it Out dives into the mechanisms and hardware of the technology that aid in making sovereign communities.