Tag Archives: money

On Bitcoin rivals


While all the hype might make you think that Bitcoin is  the only cryptocurrency, there are a number of alternatives out there and this piece in Fortune outlines what they are: 5 Bitcoin Rivals That Are Rapidly on the Rise.

While this piece lists a handful, I expect that there will be a flood of such things in the future as financial markets look to capitalize on this mixture of money and technology.

The Fortune piece is also not bad in summarizing some key facts about Bitcoin if you still find it hard to get your head around it.

I expect Bitcoin to crash to a much lower level, but I don’t see cryptocurrencies going away. Knowing more about them, especially because they could have a major impact on global economies, is worthwhile.

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Where to buy and sell Bitcoin in Toronto


I don’t recommend participating in the madness that is Bitcoin, but if you want to and you live in Toronto, then check this out: How to buy Bitcoin in Toronto.

Caveat emptor.

 Ko-fi: a new way to raise money online

a small cup of coffee
There are many ways to raise money on line, from Patreon to Indiegogo to Kickstarter. A more modest way to raise money online is this site: Ko-fi. I think it is perfect for anyone wanting to share things with others in exchange for a modest amount of money (i.e. the cost of a cup of coffee, approximately). If you were looking for something like this for your site, I recommend you check it out.

By the way, if you want to check it out (and buy ME a coffee), here is my link. Thank you!

A cautionary tale of what low taxes and libertarianism brings

Amish women on the beach
There can be many lessons that can be drawn from the story here: The Rise and Fall of the ‘Freest Little City in Texas’

The ones I drew were

  • You get the society you pay for. In this case, the people of this part of Texas were unwilling to pay for anything, and they got nothing in return. It’s hard to believe this even needs to be said in this age, but apparently it does.
  • Even basic services cost money. That money comes from taxes or service fees.
  • Those services are expensive to pay for individually: it makes much more sense for people to pool their money (in the form of taxes),  to make it cheaper overall for everyone.
  • Taxes are only part of what makes a society, but a society that is based on money and that does not have taxes is no society at all.
  • Only a society that does not depend on money can get away without taxes. Typically those a tightly knit,  cohesive, pre-money communities that depend heavily on sharing and barter. These communities are more socialist or communist in nature as opposed to libertarian. More like an Amish community or hippie commune or a religious community of some form.
  • The best way to have a libertarian society is to have one of great abundance. Scarcity requires people to share and work together if they want to survive.

It’s a good story. Read it for yourself and draw your own conclusions.

(Photo above is Amish women on the beach)

Why the stock market goes down and why it goes up (and what you should consider)

Stock market gains chart since 2009

Since the start of the great recession in 2009, two things have happened in the stock market:

  • In the short term, events have occurred that correlate with declines in the stock market
  • In the long term, the stock market has steadily improved significantly

This leads me to two conclusions

  • Always take a longer term view of the stock market
  • The things that drive the stock market in the long term are very different than the short term drivers

The second conclusion is something that this piece tries to tackle: Gradual Improvements Go Unnoticed. It is easy to see what drives the stock market down in the short term: it is difficult to ascertain what drives the stock market up in the long term. Gradual improvements could be a contributor. Other things, like the activity of the central bank, affects this. Even how other markets in the world in the world can affect the stock market.

What is Rule 40  and how did athlete Emma Coburn get around it

This piece, During Rule 40 Blackout, Emma Coburn Showcases New Balance on Olympic Stage, FloTrack, has a good run down of Rule 40 and how Emma Coburn cleverly circumvented it. In short, Rule 40 prevents all but official brands and whom they sponsor from promoting them during an blackout period of time surrounding the time of the Olympics. For example, US athletes using Nike can promote the Nike brand, but US athletes using other brands like New Balance cannot.

How did Coburn circumvent this? According to that article,

After crossing the finish line in third behind Ruth Jebet and Hyvin Jepkemoi, respectively, Coburn immediately removed her New Balance spikes and draped them over her shoulder before carrying the American flag. As a result of the bold move, thousands of photos snapped during her victory lap included her sponsor, New Balance, which otherwise would not have been featured. It’s more than likely that Coburn, who is vocal about sponsorship rights, did this intentionally to spotlight New Balance in the middle of the Rule 40 “blackout period” and circumvent Nike’s exclusive sponsorship rights with USATF.

One thing to note is that there are different rules for different athletic federations, it seems. The US swim team has more latitude than the track and field athletes.

As always, this is about money. Whatever else the Olympics are about — and obviously they are about many good things — money is one of the big aspects of these games.

Want to know why it is so expensive to get tickets to special events?

Then you want to read these two really good pieces on why it is brutally tough to get tickets to an event without paying a fortune:

What it comes down to is a very limited supply and a very high demand. But that’s obvious. Read the pieces to see just how it really plays out.