Around this time last year, Chinese authorities acknowledged that an “unknown” form of pneumonia was spreading in the city of Wuhan.
But it was already too late. What we now know as COVID-19 had already broken out across the city and possibly beyond.
In the months that followed, authorities bungled prevention measures and covered up the number of infections. They enacted travel restrictions weeks too late - as Chinese travelers seeded outbreaks around the world - and prevented international researchers from visiting the country to investigate the origin of the virus that causes COVID-19.
A global pandemic ensued that has claimed millions of lives, brought economies to a halt, and disrupted people’s livelihoods.
People wearing facemasks as they wait at the Wuhan Red Cross Hospital in Wuhan on Jan. 24, 2020. (Hector Retamal/AFP via Getty Images)
As the virus spread around the world, the regime in Beijing began an aggressive campaign to spread disinformation claiming that the virus didn’t originate in China; that propaganda offensive continues today.
Meanwhile, the regime punished citizens who dared to publicize information that didn’t fit its narrative: that authoritarian control had succeeded in containing the disease.
But in interviews with The Epoch Times, citizens tell of a different reality: draconian lockdown measures have deprived them of basic rights, while authorities continue to suppress information about new clusters around the country.
As a new wave now hits Beijing and parts of northeastern China, locals are once again kept in the dark as authorities seal off neighborhood after neighborhood.
Residents wait for groceries delivered to an entrance of a sealed residential compound, after new cases of COVID-19 were confirmed in Dalian city, Liaoning Province, China, on July 23, 2020. (China Daily via REUTERS)
Coverup Culture
China’s initial response was rife with missteps.
Wuhan health authorities only confirmed the outbreak on Dec. 31, 2019, after whistleblower doctors had shared information on social media.
Government documents leaked to The Epoch Times have since revealed that COVID-19 cases may have surfaced months earlier. Wuhan hospital data shows that patients were hospitalized with symptoms similar to COVID-19 as early as September 2019, while several people died in October 2019 from pneumonia, lung infections, and other COVID-19-like conditions.
In the early weeks of the epidemic, the Chinese regime continually downplayed the crisis and denied that the disease could be transmitted among humans. The World Health Organization repeated Beijing’s claims, and would wait until Jan. 30 to declare the outbreak a global health emergency.
Chinese authorities didn’t implement containment measures until Jan. 23, with a lockdown on Wuhan. However, by then, 5 million people had already left Wuhan, amid a typical peak season for domestic and international travel for the Lunar New Year holiday.
Chinese officials in protective suits checking on an elderly man wearing a facemask who collapsed and died on a street near a hospital in Wuhan, China, on Jan. 30, 2020. (HECTOR RETAMAL/AFP via Getty Images)
Tight Control
Chinese authorities soon adopted a so-called “fire blanket style” procedure to contain the disease domestically.
Once a person is diagnosed with COVID-19, the local government detects the patient’s recent close contacts and the places he has recently visited, via China’s ubiquitous surveillance camera system. One internal Chinese government document obtained by The Epoch Times shows that more than a million people nationwide were being closely monitored for their risk of contracting COVID-19 during the month of May.
During lockdowns, people are prevented from leaving their homes. Usually, authorities mandate that only one person per household can go outside every two to three days, and can only spend an hour or two to shop for basic necessities.
Suspected patients are isolated at government-designated quarantine centers, including some that reportedly had unsanitary conditions and a lack of medical care.
In areas with serious outbreaks, such as Wuhan, Suifenhe, Beijing, and Shanghai, authorities created makeshift hospitals with only wall partitions separating one patient from another. Some complained that the hospitals were “like death camps.”
Patients with mild symptoms of the COVID-19 are resting at night in the makeshift hospital set up in a sports stadium in Wuhan, China, on Feb. 18, 2020. (STR/AFP via Getty Images)
A Year of Outbreaks
Despite the containment measures, new clusters continue to emerge throughout China.
Authorities usually require mass nucleic acid testing soon after. During an outbreak in October in the eastern city of Qingdao, authorities claimed that after testing all 11 million residents, they found zero new infections.
International experts and local residents view such glowing accounts with skepticism. A day after authorities made that announcement, some residents told The Epoch Times that they hadn’t yet received their test results.
Local governments also continued to cover up the scale of new outbreaks. The Epoch Times has on several occasions obtained internal government data that revealed figures much higher than what had been publicly reported, such as in Beijing, and Shandong, Jilin, and Heilongjiang provinces.
Governments typically shared little information with citizens. In one classified document issued in February, Chinese authorities explicitly stated that epidemic-related documents were to be treated as top secret.
“During the time period of combating the virus, all types of urgent documents, urgent notices, urgent events… internally shared sensitive information, and any information that the [government] leaders haven’t approved to disclose to the public” would be considered state secrets, the document said.
Chinese students hold a memorial for Dr. Li Wenliang, who was the whistleblower of the coronavirus that originated in Wuhan, China, and caused the doctor’s death in that city, outside the UCLA campus in Westwood, Calif., on Feb. 15, 2020. (Mark Ralston/AFP via Getty Images)
Disinformation
The Chinese regime switched tactics around March, as countries around the world were responding to their own outbreaks.
On March 12, a spokesperson for China’s foreign ministry, Zhao Lijian, claimed in a Twitter post that the CCP virus was brought to Wuhan by the U.S. Army. His baseless claim, and other similar accusations by Chinese diplomats, sparked widespread condemnation by Western officials.
On Nov. 29, the Chinese state-run Global Times published an article suggesting that the virus originated on the Indian subcontinent. Recently, Chinese state-run media misquoted scientists’ research to claim that the virus originated in Italy.
The Chinese regime and its media have also been promoting the theory that local COVID-19 outbreaks stemmed from frozen food supply chains. Authorities claim they detected virus strains on imported frozen salmon, shrimp, pork, beef, and other foods from a range of countries, such as Norway, Russia, Indonesia, Brazil, and Germany.
The WHO states that the possibility of infection from contact with food and food packaging is slim. Disease experts also say it’s unlikely the virus can spread through frozen food.
Residents wait to be tested for the COVID-19 in Qingdao, eastern China’s Shandong Province on Oct. 12, 2020. (STR/AFP via Getty Images)
Censorship
From the beginning, Wuhan authorities silenced whistleblower doctors such as Ai Fen and Li Wenliang, who were first to note on social media that their hospitals were admitting patients with a new, potentially contagious, pneumonia-like disease. They were summoned by police and reprimanded.
Li, who later died of the disease himself, has been described as a martyr.
Fang Bin, Chen Qiushi, and other citizen journalists who documented the Wuhan outbreak, including visits to local hospitals and funeral homes, have gone missing. Fang and Chen’s whereabouts remain unknown.
On Dec. 28, Zhang Zhan was sentenced to four years in prison, becoming the first known citizen journalist to be sentenced for providing first-hand information about the epidemic in China.
Netizens also reported being detained by local police after they posted outbreak-related information on social media.
Internal documents obtained by The Epoch Times showed that propaganda authorities heavily suppressed information about the pandemic that didn’t align with official narratives.
Chinese security personnel wearing protective masks march through Tiananmen Square in Beijing on April 4, 2020. (Lintao Zhang/Getty Images)
The populace is getting fed up with the way local authorities are handling the situation.
In March, residents under lockdown in Wuhan heckled a group of Chinese officials touring the area, shouting complaints from their apartments, such as, “It’s fake, everything’s fake!”
Recently in the northeastern city of Dalian, college students were barred from leaving campus as the city reported new COVID-19 cases. They complained about the suddenly imposed quarantine.
“I believe if the Dalian government continues to insist on not allowing students to leave, students could become restless. They could even join together to resist,” one student said.
Meet the Bitcoinetas, a fleet of transformative vehicles on a mission to spread the bitcoin message everywhere they go. From Argentina to South Africa,…
You may have seen that picture of Michael Saylor in a bitcoin-branded van, with a cheerful guy right next to the car door. This one:
That car is the Bitcoineta European Edition, and the cheerful guy is Ariel Aguilar. Ariel is part of the European Bitcoineta team, and has previously driven another similar car in Argentina. In fact, there are currently five cars around the world that carry the name Bitcoineta (in some cases preceded with the Spanish definite article “La”).
Argentina: the original La Bitcoineta
The story of Bitcoinetas begins with the birth of 'La Bitcoineta' in Argentina, back in 2017. Inspired by the vibrancy of the South American Bitcoin community, the original Bitcoineta was conceived after an annual Latin American Conference (Labitconf), where the visionaries behind it recognized a unique opportunity to promote Bitcoin education in remote areas. Armed with a bright orange Bitcoin-themed exterior and a mission to bridge the gap in financial literacy, La Bitcoineta embarked on a journey to bring awareness of Bitcoin's potential benefits to villages and towns that often remained untouched by mainstream financial education initiatives. Operated by a team of dedicated volunteers, it was more than just a car; it was a symbol of hope and empowerment for those living on the fringes of financial inclusion.
Ariel was part of that initial Argentinian Bitcoineta team, and spent weeks on the road when the car became a reality. The original dream to bring bitcoin education even to remote areas within Argentina and other South American countries came true, and the La Bitcoineta team took part in dozens of local bitcoin meetups in the subsequent years.
One major hiccup came in late 2018, when the car was crashed into while parked in Puerto Madryn. The car was pretty much destroyed, but since the team was possessed by a honey badger spirit, nothing could stop them from keeping true to their mission. It is a testament to the determination and resilience of the Argentinian team that the car was quickly restored and returned on its orange-pilling quest soon after.
Over the more than 5 years that the Argentinian Bitcoineta has been running, it has traveled more than 80,000 kilometers - and as we’ll see further, it inspired multiple similar initiatives around the world.
In early 2021, the president of El Salvador passed the Bitcoin Law, making bitcoin legal tender in the country. The Labitconf team decided to celebrate this major step forward in bitcoin adoption by hosting the annual conference in San Salvador, the capital city of El Salvador. And correspondingly, the Argentinian Bitcoineta team made plans for a bold 7000-kilometer road trip to visit the Bitcoin country with the iconic Bitcoin car.
However, it proved to be impossible to cross so many borders separating Argentina and Salvador, since many governments were still imposing travel restrictions due to a Covid pandemic. So two weeks before the November event, the Labitconf team decided to fund a second Bitcoineta directly in El Salvador, as part of the Bitcoin Beach circular economy. Thus the second Bitcoineta was born.
The eye-catching Volkswagen minibus has been donated to the Bitcoin Beach team, which uses the car for the needs of its circular economy based in El Zonte.
Late 2021 saw one other major development in terms of grassroots bitcoin adoption. On the other side of the planet, in South Africa, Hermann Vivier initiated the Bitcoin Ekasi project. “Ekasi” is a colloquial term for a township, and a township in the South African context is an underdeveloped urban area with a predominantly black population, a remnant of the segregationist apartheid regime. Bitcoin Ekasi emerged as an attempt to introduce bitcoin into the economy of the JCC Camp township located in Mossel Bay, and has gained a lot of success on that front.
Bitcoin Ekasi was in large part inspired by the success of the Bitcoin Beach circular economy back in El Salvador, and the respect was mutual. The Bitcoin Beach team thus decided to pass on the favor they received from the Argentinian Bitcoineta team, and provided funds to Bitcoin Ekasi for them to build a Bitcoineta of their own.
Bitcoin Ekasi emerged as a sister organization of Surfer Kids, a non-profit organization with a mission to empower marginalized youths through surfing. The Ekasi Bitcoineta thus partially serves as a means to get the kids to visit various surfer competitions in South Africa. A major highlight in this regard was when the kids got to meet Jordy Smith, one of the most successful South African surfers worldwide.
Coincidentally, South African surfers present an intriguing demographic for understanding Bitcoin due to their unique circumstances and needs. To make it as a professional surfer, the athletes need to attend competitions abroad; but since South Africa has tight currency controls in place, it is often a headache to send money abroad for travel and competition expenses. The borderless nature of Bitcoin offers a solution to these constraints, providing surfers with an alternative means of moving funds across borders without any obstacles.
Photo taken at the South African Junior Surfing Championships 2023. Back row, left to right:
Mbasa, Chuma, Jordy Smith, Sandiso. Front, left to right: Owethu, Sibulele.
To find out more about Bitcoineta South Africa and the non-profit endeavors it serves, watch Lekker Feeling, a documentary by Aubrey Strobel:
The European Bitcoineta started its journey in early 2023, with Ariel Aguilar being one of the main catalysts behind the idea. Unlike its predecessors in El Salvador and South Africa, the European Bitcoineta was not funded by a previous team but instead secured support from individual donors, reflecting a grassroots approach to spreading financial literacy.
The European Bitcoineta is a Mercedes box van adorned with a prominent Bitcoin logo and inspiring messages, and serves as a mobile hub for education and discussion at numerous European Bitcoin conferences and local meetups. Inside its spacious interior, both notable bitcoiners and bitcoin plebs share their insights on the walls, fostering a sense of camaraderie and collaboration.
Introduced in December 2023 at the Africa Bitcoin Conference in Ghana, the fifth Bitcoineta was donated to the Ghanaian Bitcoin Cowries educational initiative as part of the Trezor Academy program.
Bitcoineta West Africa was funded by the proceeds from the bitcoin-only limited edition Trezor device, which was sold out within one day of its launch at the Bitcoin Amsterdam conference.
With plans for an extensive tour spanning Ghana, Togo, Benin, Nigeria, and potentially other countries within the ECOWAS political and economic union, Bitcoineta West Africa embodies the spirit of collaboration and solidarity in driving Bitcoin adoption and financial inclusion throughout the Global South.
All the Bitcoineta cars around the world share one overarching mission: to empower their local communities through bitcoin education, and thus improve the lives of common people that might have a strong need for bitcoin without being currently aware of such need. As they continue to traverse borders and break down barriers, Bitcoinetas serve as a reminder of the power of grassroots initiatives and the importance of financial education in shaping a more inclusive future. The tradition of Bitcoinetas will continue to flourish, and in the years to come we will hopefully encounter a brazenly decorated bitcoin car everywhere we go.
If the inspiring stories of Bitcoinetas have ignited a passion within you to make a difference in your community, we encourage you to take action! Reach out to one of the existing Bitcoineta teams for guidance, support, and inspiration on how to start your own initiative. Whether you're interested in spreading Bitcoin education, promoting financial literacy, or fostering empowerment in underserved areas, the Bitcoineta community is here to help you every step of the way. Together, we will orange pill the world!
This is a guest post by Josef Tetek. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Over the last few years, digital currencies and gold have become decent barometers of speculative investor appetite. Such isn’t surprising given the evolution…
Over the last few years, digital currencies and gold have become decent barometers of speculative investor appetite. Such isn’t surprising given the evolution of the market into a “casino” following the pandemic, where retail traders have increased their speculative appetites.
“Such is unsurprising, given that retail investors often fall victim to the psychological behavior of the “fear of missing out.” The chart below shows the “dumb money index” versus the S&P 500. Once again, retail investors are very long equities relative to the institutional players ascribed to being the “smart money.””
“The difference between “smart” and “dumb money” investors shows that, more often than not, the “dumb money” invests near market tops and sells near market bottoms.”
That enthusiasm has increased sharply since last November as stocks surged in hopes that the Federal Reserve would cut interest rates. As noted by Sentiment Trader:
“Over the past 18 weeks, the straight-up rally has moved us to an interesting juncture in the Sentiment Cycle. For the past few weeks, the S&P 500 has demonstrated a high positive correlation to the ‘Enthusiasm’ part of the cycle and a highly negative correlation to the ‘Panic’ phase.”
That frenzy to chase the markets, driven by the psychological bias of the “fear of missing out,” has permeated the entirety of the market. As noted in “This Is Nuts:”
“Since then, the entire market has surged higher following last week’s earnings report from Nvidia (NVDA). The reason I say “this is nuts” is the assumption that all companies were going to grow earnings and revenue at Nvidia’s rate. There is little doubt about Nvidia’s earnings and revenue growth rates. However, to maintain that growth pace indefinitely, particularly at 32x price-to-sales, means others like AMD and Intel must lose market share.”
Of course, it is not just a speculative frenzy in the markets for stocks, specifically anything related to “artificial intelligence,” but that exuberance has spilled over into gold and cryptocurrencies.
Birds Of A Feather
There are a couple of ways to measure exuberance in the assets. While sentiment measures examine the broad market, technical indicators can reflect exuberance on individual asset levels. However, before we get to our charts, we need a brief explanation of statistics, specifically, standard deviation.
“Like a rubber band that has been stretched too far – it must be relaxed in order to be stretched again. This is exactly the same for stock prices that are anchored to their moving averages. Trends that get overextended in one direction, or another, always return to their long-term average. Even during a strong uptrend or strong downtrend, prices often move back (revert) to a long-term moving average.”
The idea of “stretching the rubber band” can be measured in several ways, but I will limit our discussion this week to Standard Deviation and measuring deviation with “Bollinger Bands.”
“Standard Deviation” is defined as:
“A measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of the variance.”
In plain English,this meansthat the further away from the average that an event occurs, the more unlikely it becomes. As shown below, out of 1000 occurrences, only three will fall outside the area of 3 standard deviations. 95.4% of the time, events will occur within two standard deviations.
A second measure of “exuberance” is “relative strength.”
“In technical analysis, the relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can read from 0 to 100.
Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition.” – Investopedia
With those two measures, let’s look at Nvidia (NVDA), the poster child of speculative momentum trading in the markets. Nvidia trades more than 3 standard deviations above its moving average, and its RSI is 81. The last time this occurred was in July of 2023 when Nvidia consolidated and corrected prices through November.
Interestingly, gold also trades well into 3 standard deviation territory with an RSI reading of 75. Given that gold is supposed to be a “safe haven” or “risk off” asset, it is instead getting swept up in the current market exuberance.
The same is seen with digital currencies. Given the recent approval of spot, Bitcoin exchange-traded funds (ETFs), the panic bid to buy Bitcoin has pushed the price well into 3 standard deviation territory with an RSI of 73.
In other words, the stock market frenzy to “buy anything that is going up” has spread from just a handful of stocks related to artificial intelligence to gold and digital currencies.
It’s All Relative
We can see the correlation between stock market exuberance and gold and digital currency, which has risen since 2015 but accelerated following the post-pandemic, stimulus-fueled market frenzy. Since the market, gold and cryptocurrencies, or Bitcoin for our purposes, have disparate prices, we have rebased the performance to 100 in 2015.
Gold was supposed to be an inflation hedge. Yet, in 2022, gold prices fell as the market declined and inflation surged to 9%. However, as inflation has fallen and the stock market surged, so has gold. Notably, since 2015, gold and the market have moved in a more correlated pattern, which has reduced the hedging effect of gold in portfolios. In other words, during the subsequent market decline, gold will likely track stocks lower, failing to provide its “wealth preservation” status for investors.
The same goes for cryptocurrencies. Bitcoin is substantially more volatile than gold and tends to ebb and flow with the overall market. As sentiment surges in the S&P 500, Bitcoin and other cryptocurrencies follow suit as speculative appetites increase. Unfortunately, for individuals once again piling into Bitcoin to chase rising prices, if, or when, the market corrects, the decline in cryptocurrencies will likely substantially outpace the decline in market-based equities. This is particularly the case as Wall Street can now short the spot-Bitcoin ETFs, creating additional selling pressure on Bitcoin.
Just for added measure, here is Bitcoin versus gold.
Not A Recommendation
There are many narratives surrounding the markets, digital currency, and gold. However, in today’s market, more than in previous years, all assets are getting swept up into the investor-feeding frenzy.
Sure, this time could be different. I am only making an observation and not an investment recommendation.
However, from a portfolio management perspective, it will likely pay to remain attentive to the correlated risk between asset classes. If some event causes a reversal in bullish exuberance, cash and bonds may be the only place to hide.
BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals.
Credit: Impact Journals
BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals.
Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”
Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Agingteam.
About Aging-US:
Agingpublishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.
Agingis indexed and archived byPubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed Central, Web of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).
Please visit our website at www.Aging-US.com and connect with us:
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