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Coinbase: Bitcoin Is Superior to Gold

Coinbase: Bitcoin Is Superior to Gold

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Coinbase published a report arguing that disruptions during the pandemic highlight Bitcoin’s advantages over gold.

A report published by leading U.S.-based crypto exchange, Coinbase, has argued that Bitcoin (BTC) offers a distinct advantage over gold. They state that Bitcoin is afforded these advantages by its lack of dependence on physical supply chains.

While the report’s authors assert that “Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value,” Coinbase advances that gold’s recent supply squeeze, resulting from the impacts of the coronavirus pandemic, has highlighted Bitcoin’s superior global accessibility.

Bitcoin offers advantages over gold

In a report published on May 2, Coinbase argues that the COVID-19 pandemic has illuminated the advantages that BTC offers over gold, asserting that “Bitcoin does not rely on fragile physical supply chains and is truly globally accessible.”

Coinbase emphasizes the recent price gaps exhibited by gold markets worldwide, as disruptions to supply chains result in disparate levels of scarcity across different markets.

The report notes a roughly 4.5% divergence in the price of gold in New York and London. This divergence resulted from a lack of gold bars that are used to settle Comex’s futures contracts.

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The report notes that the Perth Mint in Western Australia has recently increased production of gold kilobars to meet supply shortages — with at least 11,000 bars being shipped to New York.

COVID-19 pandemic has minimal impact on mining

Coinbase notes that while “gold refineries, miners, and supply chains have been disrupted, Bitcoin’s core protocol continues to function as designed” — with Bitcoin’s hash rate reapproaching all-time highs in recent weeks.

Further, the report asserts that “Bitcoin will be approximately as scarce as gold,” however, possesses the distinct quality of teleportability.

“Bitcoin’s rate of new supply is ~3.6% per year and will soon drop to ~1.7% on May 12th, setting it on par with gold’s historic scarcity. As gold miners and refineries have gone offline, Bitcoin’s global mining ecosystem seems resilient according to hash rate measurements in recent days.”

Coinbase also notes that Bitcoin markets are currently posting year-to-date gains of 20% and 12% respectively.

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Zelenskyy, Trudeau Honor Actual 3rd Reich Nazi With Standing Ovation

Zelenskyy, Trudeau Honor Actual 3rd Reich Nazi With Standing Ovation

Canadian Prime Minister Justin Trudeau and Ukrainian President Volodomyr…

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Zelenskyy, Trudeau Honor Actual 3rd Reich Nazi With Standing Ovation

Canadian Prime Minister Justin Trudeau and Ukrainian President Volodomyr Zelenskyy - who commands a battalion of neo-Nazis - honored an actual WWII Nazi with a standing ovation on Friday.

Yaroslav Hunka, 98, fought in a Third Reich military formation accused of war crimes.

On Friday, he was honored during a session of Canadian parliament in which Zelenskyy addressed the lawmakers to thank them for their support since Russia invaded Ukraine, saying that Canada has always been on "the bright side of history."

Hunka stood for standing ovation and saluted, according to Canadian television.

According to the Associated Press, Hunka "fought with the First Ukrainian Division in World War II before later immigrating to Canada," another name for the 14th Waffen Grenadier Division of the SS, the Nazi party's military wing, also known as the SS Galichina.

Related:

Formed in 1943, SS Galichina was comprised of Ukrainians from the Galicia region in the western part of the country. It was armed and trained by Hitler's Nazis and commanded by German officers. The next year, the division received a visit from SS head Heinrich Himmler, who had high praise for the unit's effectiveness at slaughtering Poles.

The SS Galichina subunits were responsible for the Huta Pieniacka massacre, in which they burned 500 to 1,000 Polish villagers alive.

One of several photos on a blog by an SS Galichina veterans’ group that shows Yaroslav Hunka, the Ukrainian immigrant honored by the Canadian Parliament during a visit by Ukrainian President Volodymyr Zelenskyy. Hunka is in the front row, middle.

In fact, during the Nuremberg Trials, the Waffen-SS was declared to be a criminal organization responsible for mass atrocities.

Following the war, thousands of SS Galichina veterans were allowed to leave Germany and resettle in the West - with around 2,000 moving to Canada. By that time, they were known as the First Ukrainian Division.

A blog by an association of its veterans, called “Combatant News” in Ukrainian, includes an autobiographical entry by a Yaroslav Hunka that says he volunteered to join the division in 1943 and several photographs of him during the war. The captions say the pictures show Hunka during SS artillery training in Munich in December 1943 and in Neuhammer (now Świętoszów), Poland, the site of Himmler’s visit. 

In posts to the blog dated 2011 and 2010, Hunka describes 1941 to 1943 as the happiest years of his life and compares the veterans of his unit, who were scattered across the world, to Jews. -Forward

So, the same leftists who called Trump supporters Nazis for years are now honoring an actual Nazi - while Germany has notably locked up several concentration camp guards in their 90s for their involvement in Nazi activities.

University of Ottawa Political Scientist Ivan Katchanovski lays it out...

Meanwhile, here's Ukraine's Azov Battalion of neo-Nazis that everyone with a Ukraine flag in their bio is supporting...

Odd, they don't look like Trump supporters.

Maybe these Nazis can shed some light? Careful, "X" thinks this is sensitive material (that might redpill people?).

Meanwhile...

Tyler Durden Sun, 09/24/2023 - 14:25

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Kerry Acknowledges Need For Nuclear Power As Climate Diplomacy Dominates New York City

Kerry Acknowledges Need For Nuclear Power As Climate Diplomacy Dominates New York City

Authored by Nathan Worcester via The Epoch Times,

While…

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Kerry Acknowledges Need For Nuclear Power As Climate Diplomacy Dominates New York City

Authored by Nathan Worcester via The Epoch Times,

While addressing an Atlantic Council meeting on nuclear energy, U.S. Climate Envoy John Kerry made it clear he doesn't think wind and solar alone will be sufficient to meet global energy needs while achieving policy plans to rapidly scale back the use of hydrocarbons in the name of addressing climate change risks as outlined by the United Nations.

"You will have to have some component of nuclear—yet to be determined how big or where it'll go. That's going to be a market-based reaction," said Mr. Kerry, who served as a Democratic senator from Massachusetts before serving as Secretary of State under former President Barack Obama.

The 2004 Democratic candidate for president said that "most scientists will tell you" the goal of Net Zero 2050 cannot be achieved "unless we have a pot, a mixture of energy approaches."

"Clearly, we're going to need nuclear to be a part of that," he said on Monday.

Mr. Kerry's pro-nuclear remarks come as climate-related diplomacy and other climate-themed events overtake New York City.

Over the weekend, protesters demonstrated against fossil fuels in the streets of New York City, with Rep. Alexandria Ocasio Cortez (D-N.Y.) among the participants.

Mr. Kerry voiced support for those demonstrators in his speech to the Atlantic Council.

In addition, the U.N. will hold its inaugural Climate Ambition Summit on Sept. 20.

U.N. statement on the event states it "will showcase leaders who are 'first movers and doers' from government, business, finance, local authorities, and civil society who have credible actions, policies and plans to keep the 1.5°C degree goal of the Paris Agreement alive and deliver climate justice to those on the front lines of the climate crisis."

The Climate Ambition Summit comes ahead of the next annual United Nations Climate Change Conference, which will begin in late November. It's taking place in Dubai, United Arab Emirates.

Even as he praised climate protesters, Mr. Kerry noted that a previous generation of environmental activists had fought hard against nuclear power, now seen as a pragmatic solution by many climate hawks.

"In my state of Massachusetts, where there was a huge fight over Seabrook Nuclear Plant in New Hampshire, we now happily get about 20 percent of all our energy from Seabrook, and nobody's complaining—maybe about the prices a little bit, because that's normal in today's world," he said.

A view of the Seabrook Nuclear Power Plant in Seabrook, N.H., on March 21, 2011. (Emmanuel Dunand/AFP via Getty Images)

"The United States is now therefore committed, based on experience and based on reality, to trying to accelerate the deployment of nuclear energy, as part of the Biden program," he added.

The diplomat, who came under fire from Republicans earlier this summer for his unwillingness to share details of his staff at a Congressional hearing, commented positively on Bill Gates' TerraPower, which plans to build the next-generation Natrium nuclear reactor in Wyoming.

He also drew attention to his recent trip to Romania, where he visited a control room simulator for a small modular reactor developed by the American firm NuScale.

Mr. Kerry took issue with the continued construction of unabated coal-fired power plants and with the existence of subsidies for fossil fuels.

An International Monetary Fund (IMF) study identified $1.3 trillion in "explicit" subsidies for fossil fuels in 2022, a stark increase from $500 billion in 2020. Such subsidies are ascribed to fossil fuel prices when they are lower than they would otherwise be if producers fully bore supply costs. The IMF authors attributed a substantial proportion of the increase to "temporary price support measures," in line with surging fossil fuel prices during that period.

Whitehouse Touts ADVANCE Act

Mr. Kerry wasn't the only high-level Democratic politician who addressed the Atlanticist forum on Monday.

In pre-recorded remarks, Sen. Sheldon Whitehouse (D-R.I.) touted the bipartisan, nuclear power-related ADVANCE Act, which passed the Senate as part of the National Defense Authorization Act (NDAA) in July. The bill has not moved ahead in the House.

"Our legislation would strengthen the Nuclear Regulatory Commission's ability to safely and efficiently review the expected influx of applications and prepare them to license HALEU [high-assay low-enriched uranium] fuels," the lawmaker said.

Russia currently dominates the production of HALEU fuels, which are key for most next-generation nuclear reactors. Uncertainty about Russian supplies of HALEU has been a worry for TerraPower and a central motivation for the Nuclear Fuel Security Act, another successful NDAA amendment.

"We spend nearly $1 billion each year on Russian uranium. Russia uses these revenues to fund its invasion of Ukraine," Sen. John Barrasso (R-Wyo.) said in the Senate as the measure was under consideration.

Sen. John Barrasso (R-Wyo.) in Washington on Dec. 1, 2020. (Bill O'Leary-Pool/Getty Images)

'Decarbonize Beyond Electricity'

Other speakers at the event expanded on how nuclear energy could be used to cut carbon emissions.

"We need to decarbonize beyond electricity," said John Wagner, director of the Idaho National Laboratory. He cited industrial heating and hydrogen production as examples of such applications for nuclear energy.

Sama Bilbao y León, director general of the World Nuclear Association, concurred.

"Yes, we need to electrify as much as we can of our economy, but it is not going to be possible to electrify everything," she said.

Ben Pickett of Nucor Corporation, which operates mills that recycle scrap steel using electric arc furnaces, explained that his company's operations require "billions and billions of kilowatt hours per year."

Earlier this year, Nucor signed a memorandum of understanding with NuScale Power. The latter could potentially develop small modular reactors for use in conjunction with Nucor's steel production facilities.

"We've got customers now that are demanding much cleaner steels," Mr. Pickett said.

He conceded that the idea of running steel production on advanced nuclear has met with a "mixed" reaction in his industry.

Tyler Durden Sun, 09/24/2023 - 15:00

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WaPo Scrambles After Own Poll Accidentally Shows Trump Crushing Biden

WaPo Scrambles After Own Poll Accidentally Shows Trump Crushing Biden

A new poll from the Washington Post and ABC News accidentally revealed…

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WaPo Scrambles After Own Poll Accidentally Shows Trump Crushing Biden

A new poll from the Washington Post and ABC News accidentally revealed that former President Trump would crush Joe Biden in a hypothetical 2024 matchup, so they cast doubt on their own polling.

Illustration via the Pittsburgh Post-Gazette

The poll shows Trump leading Biden by 10 percentage points (52% vs. 42%), which the Post immediately noted "does not match other recent polling" and may be "an outlier."

Screenshot via MxM News

Via the Washington Post:

Biden and former president Donald Trump appear headed for a rematch of their 2020 contest, although more than 3 in 5 Democrats and Democratic-leaning independents say they would prefer a nominee other than the president. But Biden’s advisers have argued that he is the strongest Democrat for 2024 and those who wish for someone else share no consensus on who that should be, with 8 percent naming Vice President Harris, 8 percent naming Sen. Bernie Sanders (I-Vt.) and 20 percent saying they prefer “just someone else.”

The Post-ABC poll shows Biden trailing Trump by 10 percentage points at this early stage in the election cycle, although the sizable margin of Trump’s lead in this survey is significantly at odds with other public polls that show the general election contest a virtual dead heat. The difference between this poll and others, as well as the unusual makeup of Trump’s and Biden’s coalitions in this survey, suggest it is probably an outlier.

According to Trump adviser Jason Miller, "Heads are EXPLODING" over the WaPo poll.

The NY Post further breaks down the poll, noting that 44% of those surveyed say their financial picture has deteriorated under Biden, while just 30% have favorable views on Biden's handling of the economy.

37% approve of Biden's overall performance, while 56% disapprove.

On immigration, Biden’s approval clocks in at 23%, with 45% strongly disapproving.

Then, a considerable 74% of voters feel that he’s too old for another term, wile about 50% say the same about Trump. -NY Post

It's not just WaPo's poll either...

The Post also doesn't want you to believe your lying eyes, claiming that "the Post-ABC poll is an outlier in finding Trump with a lead," then proceeds to post a picture of Trump leading in 3 out of 5 polls with a fourth being a tie.

Poll below:

Tyler Durden Sun, 09/24/2023 - 15:35

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