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GBPUSD TICKS HIGHER, INVESTORS AWAIT FRESH CATALYST

GBPUSD TICKS HIGHER, INVESTORS AWAIT FRESH CATALYST


GBPUSD reclaimed 1.31 handle in the Asian session on Monday due to the prevailing risk-on mood in the markets amidst hopes for coronavirus cure. The U.S. Food & Drug Administration allowed usage of blood plasma of coronavirus survivors to treat the infected patients. As of now, the cable is trading marginally higher by 0.06 % at 1.3089.
Talking about the previous trading session, the pound came under intensive selling pressure after the seventh round of EU- UK trade deal talks closed with no breakthrough agreement. EU’s Chief Negotiator Barnier commented that he remains skeptical about the deal as both sides failed to reach the consensus on key issues like fishing rights and competition rules.
Additionally, investors' mood tampered after the reports stated that Public debt in the UK soared above 2 trillion pounds for the first time in July. This was after the tax revenue fell in Britain and the government increased the public spending to help the citizens from coronavirus pandemic.
Besides, the release of upbeat macro-economic statistics tipped the scales in the favour of the greenback. The US Flash Manufacturing PMI came at 53.6 vs 51.9 expected and Services PMI arrived at 54.8 surpassing the market expectation of 50.9. Thus, the pair ended the session at 1.3083, with a loss of 1.29%.
Going forward, investors will wait for the fresh catalyst as there are no crucial macroeconomic releases from both US and the UK economy.
Risk Disclaimer: The vast majority of retail client accounts lose money when trading in CFDs.
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The Inaugural ASX_Bets Rivken Cup

Hello you downy shitbirds.
I have decided to take on the role of getting the first, of what will likely be a very short-lived, ASX_Bets competition started. I feel that by 'running' the competition, I might be able to make it less shitty and cringeworthy than some of you.
Firstly, the name. I know Rene Rivken is not exactly the most contemporary reference, and I had considered other names, like the Bradbury Cup (still not super recent, but probably a better predictor of what I see happening with this competition). The reason I went with Rivken is in 2001, Rene Rivken had a meeting with the CEO of Impulse Airlines (I don't remember them either) who told Rivken that Impulse was likely going to merge with QANTAS. Rivken leaves the meeting, and HOURS LATER buys 50,000 QANTAS shares. He is convicted of insider trading, after making $2,664.94 on the trade. This is just a beautiful story, and I think it needs to be memorialised.
Ok, now that we've got that out of the way. The rules are fairly straight forward:
  1. On 18 May (yes, 18 May - you can wait one fucking week) you must purchase no more than AUD$1,000 (including brokerage) worth of any Australian financial product. Evidence must be provided in the form of a screenshot. Just take a screenshot and upload it to imgur and link it. Don't DM me.
  2. I will make a new thread every Friday evening, where EVERYONE MUST POST their weekly trades by Sunday 6.00pm. If you baghold for the week, you can just provide an update on the value.
  3. This is a YOLO competition. Pick one product and roll with it, sell, repeat. I don't actually care about it being a YOLO competition per se, I just don't want to have to keep track of 10 different stocks and the buying and selling. You can hedge outside of the competition if you must.
  4. You lose any value that is not rolled into your next trade. I.e. if your first trade is 1k - 1.2k, your next trade must be worth 1.2k. You can take profits, but that value is lost moving forward. This is because I am not Rain Man and won't keep track of all your leftovers. This is also to prevent the inevitable "I saved $86 in week 1, $47 in week 2, and here is some random penny stock trade that I made with leftovers that went +900% and now I win." - Everything must be on the table in the weekly updates.
  5. The competition will end at 6.01am AEDT Saturday, 27 June. The winner will be the person with the highest total MARKET VALUE at that point. If you are still holding your products, fine. You don't have to sell, but the market value will be used to determine their value. Not your vibe; not what you think they're worth; not what they might be worth at expiry.
  6. The following are all acceptable products to trade:
I'm not sure if we should allow US options. Please discuss (I have ended the competition assuming we are). I think this should be a level playing field competition and many people don't have US Options accounts, so happy to go either way.
Let me know what you all think. Everything is up for debate (including the cup name), but at least now we have a starting point for those discussions.
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Plus500 (LON:PLUS) – a good hedge against the return of volatility

As volatility is set to return to the market, Plus500, with a current beta of -0.33, could be a logically-sound hedge against board market risk whilst adding capital gain potential as well as diversification benefit to the total portfolio, as it has already shown over the past few months.
Why (and What is) Plus500
The first time I came across with Plus500 (LON:PLUS) was during a UEFA Champions League game (European soccer competition) between Atletico Madrid and Barcelona that I watched a few years ago where they were (and still are) the jersey sponsor for Atletico Madrid (a top Spanish soccer club for anyone who doesn’t follow soccer). From their brand name it was hard for me me to figure out what Plus500 does, which I later found out that not only they are a one of the largest online trading platforms in Europe for CFD, spread betting and other financial assets (including cryptocurrency), but also a listed company on London Stock Exchange. And then it all made sense to me why Plus500 would choose to advertise their services through a soccer club: there are many commonalities between both soccer fields and financial markets: the ever-changing situations, the fast pace dynamics, and large volume of boisterous spectators that are ever-present.


Plus500 is an international financial firm providing online trading services in contracts for difference (CFDs), across more than 2,000 securities and multiple asset classes.
Heightened market volatility (again) could further boosted Plus500's growth
Ever-changing situations, fast-paced dynamics and large volume of boisterous spectators are indeed what characterised the global financial markets in the first half of 2020. Following the surprising V-shaped recovery from the market bottom in late March, Stocks retreated over the past few weeks as the global markets are gearing up toward another period of heightened volatility. The VIX index had a noticeable pick up over recent weeks (see charts below) as more and more confirmed COVID-19 cased were being reported following the ease of the lockdowns as well as recent protests both in the US and aboard. In addition to a looming second wave of COVID-19, there are several other potential risk factors, such as Trade conflicts between US and Europe and the upcoming Presidential election, which could significantly influence investor’s confidence over the stock markets and stimulate more tug of wars between the bulls and the bears of the markets on a day-to-day basis.

VIX index - Risk is gradually returning
Source: Refinitiv Eikon
Uncertainty triggers volatility, and Plus500 is certainly one of the a few companies that make money from this directly. The stock has performed very strongly this year (+52% YTD) relative to the board UK stock market (FTSE down by 18.3% YTD) thanks to the record level of trading activities by its customers. It also added more than 82,000 and 100,000 new customers in Q1 and Q2 respectively which exceeded their expectations for both quarters.

Plus500 stock price since 2018
Source: Refinitiv Eikon
There are other reasons to stay optimistic about the stocks: Plus500’s business operation is reasonably well diversified in terms of geographical location (see chart below). It’s also fairly cash rich for company of its size. Plus500 has a negative net debt of over $287 million in the current financial year and a projected free cash flow yield of 31.6% in 2021, which means they are unlikely to face any potentially significant liquidity concerns which often can cause businesses to go bankrupt (such as the position Wirecard find themselves in this week). Furthermore, Plus500’s shareholder returns policy is to return at least 60% of net profits to shareholders, through a combination of dividends and share buybacks, with at least 50% of this distribution being made by way of dividends. Its current dividend yield of 4% p.a. will be particularly appealing to incoming seeking investors.

https://preview.redd.it/6jmjv7vrnp751.png?width=3006&format=png&auto=webp&s=21b337a2a456932577b586bebc72c5931cba28d2
Source: Refinitiv Eikon

Plus500 stock profile
Source: Genuine Impact
Another Wirecard situation?
Ultimately the stock’s future price momentum will dependent upon the sustainability of the market volatility as well as uncertainties in regulatory landscapes. As showed in the chart earlier Plus500’s business operation spreads over several jurisdictions and they are authorised and regulated by the market regulators in the UK, Cyprus, Australia, Singapore and Israel, which means that any change and update in regulatory framework concerning CFDs or other financial instruments will likely to significantly affect Plus500’s business operation and influence market expectations on their future revenue and growth. Rewinding the clock to February 2019 its stock price more than halved over a two-week period, when the Australian market regulator announced restrictions in CFD trading rules which adversely affected Plus500’s profitability. Similar regulatory uncertainties in the future could easily cause its stock profit to slump. It’s also worth noting that Plus500 also had its fair share of accounting controversy in the past. One incident was that in its 2017 Annual Report, Plus500 announced that they did not generate net revenues or losses from market P&L in 2017. However in February 2019 the company issued a contradictory report stating that it had incurred a $103 million loss from client trading activity in the 2017 financial year, causing investors to cast doubts over the credibility of their published financials and their stock prices to plummet. Investors and regulators are likely to be more sensitive and aggressive than ever toward these kind of accounting irregularities for any public company after the Wirecard case.

Analysts upgraded their 2021 and 2022 revenue projections
Source: Refinitiv Eikon
Agree to disagree
The market seems to hold a slip view on the stock. As a matter of fact the four broker analysts that provide research coverage on Plus500 cannot have a less divided opinion on its outlook which is reflected in the ratings they give out (one strong buy, one hold, one sell and one strong sell) and range of target prices they’ve set (£6.65 - £21.38, current price at £13.01). However, over the past few months there appears to be a consensus amongst these analysts on the stock’s future growth momentum as they all lifted their 2021 and 2022 revenue projection for Plus500 (see chart above), thanks to the increasing trading volume and customer growth over the past few months. Their average revenue projections for 2021 was $365 million back in March 2020, and has now been lifted to $574 million for the same period, representing a 57% increase (roughly in line with the stock's YTD performance).
This upward momentum is likely to continue if volatility resumes in the coming weeks. Like their competitors in the sector, Plus500’s financial performance this year will be dependent, among other things, on the global financial market conditions providing sufficient trading opportunities for customers.
Thanks for reading my post and I appreciate any feedback and comments! Stay safe and all the best with your investments.
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r/formula1 – I'm an F1 Engineer/Strategist, Ask Me Anything... (pt 2)

Source
Previous post here.
Questions Answers
How many times in a year do you think you get race day strategy 100% correct? I would say we never get it 100% correct. Race day strategy isn't just about picking the correct number of stops and stop laps for both cars.
Did we take every last drop of grip out of the tyres before we pitted? Did we pressure cars ahead the right amount at every point? Did we back off and protect the tyres the right amount at every point? Did we communicate to the driver exactly what we were trying to achieve and therefore get 100% out of them at every instant in the race? Was the modelling accurate and useful? etc. etc.
We will always be searching for marginal/incremental improvements in everything we do.
I’m in high school and am planning on going to school to become a mechanical engineer, so my question is this: how available are engineering jobs in F1, or just motorsport in general? Of course, being an F1 engineer would be a dream, but I have no idea how difficult it would be to actually find a job I have to be honest and say that jobs in motorsport and especially F1 are not plentiful and that they are often oversubscribed many times over.
I would not let that put you off though, at your age you have a lot of time to pick up skills, experiences and knowledge that will help you in the endeavor of getting a job in motorsport.
I would also say that perseverance is almost an essential quality in finding a job in F1. I, and many others I know, were turned down for roles multiple times and at various points thought we would never get our dream jobs in F1.
Hey, Randy! Thanks for doing this awesome AMA. You have talked a lot about getting into F1 for a career as an Engineer. I was hoping you could shed a bit of light in what skillsets/qualifications you look for in candidates who work as the mechanics and the pitstop crew on a given race weekend. Again, Thanks for doing this. I have read through every one of your answers and they were as much fun to read as they were enlightening about the sport we love. So this is not my area of expertise, although I do spend a lot of time working with the pitcrew - so please take this with a pinch of salt but I think below are the main things we look for:
* Some prior experience in building and servicing of race cars or bikes.
* An ability to understand and follow (often complex) procedures.
* A proactive nature (e.g. when reporting faults or build issues).
* Dealing well with a high pressure and time constrained workload and environment.
* An attention to detail and a willingness to learn.
* Ability to read and interpret technical drawings.
* Fabrication and machining skills.
Really cool to hear from you Randy. How have you and the team at McLaren been spending your time with everything that’s been going on with Covid-19? Hope we can see you go racing in Austria in July! So F1 teams have all been subject to an extended "shutdown" meaning that most of us haven't been allowed to work on F1 projects and many of us, consequently, have not been working in recent weeks.
Personally, I've used the time to try and get fit, having averaged c. 4 hours and 15 minutes of exercise every day since April 1st (yes I do have a spreadsheet), as well as trying to learn some new skills like React.
Many of the team have used the opportunity to spend time with their loved ones, which can be difficult with hectic schedules, to improve their cooking skills (I have eaten the best pizza I've ever had during lockdown!), do gardening and so on.
Everyone seems eager to get back to it and most teams will be returning to work over the next fortnight.
Hi Randy. Thanks so much for doing this, the answers so far have been really insightful. Can I ask, as an armchair fan, what can I look for over the course of the weekend to help me predict likely strategic calls on race day? The main 2 factors are tyre behaviour (degradation, wear life and pace difference) and pitstop loss. From here you can get a basic understanding of the strategy before competitors are thrown into the mix.
Pirelli kindly provide some of the information each weekend on tyres and you can estimate the rest from FP2 long runs towards the end of the session. Pitstop loss is also often given by some teams (maybe rounded or slightly noisified - but close enough to give you the right number of stops).
With those 2 things you can work out the baseline strategy if you were racing alone and then you want to be considering the cars that are a pitstop window ahead and behind and see whether you would stop earlier or later than the baseline based on undercutting, traffic and so on.
Thank you so much for doing this AMA! During last year's German GP, I remember that a lot of us fans were interested in contrasting approaches made by two teams as the track started to dry up. One driver saw that the track was dry enough for slicks, called it in, and got the go ahead to take the gamble; he ended up coming very close to a podium. Another driver made similar observations and appealed repeatedly to his engineer to make the switch, but was instructed to stay out for several more laps, costing him points. I understand hindsight is 20/20 here, but if you were the engineer, would you be more inclined to take the driver's word when they potentially contradict the data, or vice versa? Do you believe there's a "correct" approach in situations like these, or a personal preference? Again, thank you so much! (Typed from my “Mclaren Edition” phone...I can't wait for the season to start, and I really wish you guys the best!) Thank you for the kind words!
I think there is a lot you don't see (not your fault) when it comes to strategic decisions, this is amplified many times over in a wet or changeable conditions race, where decisions are extremely difficult, with lots of information, of varying quality/frequency.
I think we have learnt that it depends. Sometimes, we will weight the driver's input higher than anything else, sometimes it will be the least valuable information.
Do you employ many Americans on the team, and if so what does it take? Assuming they have the technical credentials of engineering. So we have nothing against Americans, nor people of other nationalities - having the right to work in the UK is sometimes required although we do also help with visa applications this isn't always possible for us to do.
In terms of Americans on the team, we have Zak Brown, of course and I'll be honest and say I can't think of any others at the moment, although we have had a few placement students in recent years from the United States.
There's no extra requirement for Americans, especially as we're moving to Mercedes powerunits soon, we won't have too many issues with the pronunciation of Renault anymore.
What kind of people do you have in the strategy department? Are they mostly engineers, or like mathematicians and computer scientists? Although we are largely engineers by degree, we don't really discriminate against other backgrounds and are often quite keen to add a diversity of ideas and backgrounds into the mix - a numerate degree is going to be very helpful though.
We are 60% mechanical engineers, 1 engineemathematician hybrid and 1 physicist.
Is it unusual to go from entry-level engineer to head of strategy in 6-7 years? What do you think drove your success? I think it actually happened even a bit quicker than that - which had never been my expectation when I started.
It's hard to say what is unusual, there are so few "race strategists" in the world, let alone in F1 that I think there's not really a "usual" and often timescales can be quite variable based on circumstance (e.g. someone leaving/changing role).
I guess the success is driven by the confidence and belief in the strategy team, of which I am just a part - so the fact that the other members of the team are so good, that management above us let us independently improve and change our processes without blame nor interference etc. is what has really driven it. Also have the much wider strategy team that includes 10s of volunteers to thank - it truly is a team effort and no single person would have the impact they do without the team around them.
Does race strategist cooperate with aerodynamics department in any way? So, I can't go into details but yes we do. Strategy is a really cool role because we end up dealing with pretty much all other areas - as we also cover things like Competitor Intelligence and Sporting matters.
In a more typical sense, just thinking about race strategy, there are a few areas that spring to mind, aerodynamicists and other engineers will be setting things like the wing level and the trades made here can affect performance in qualifying vs. the race, something that we as strategists are well placed to comment on the value of and also for setting cooling levels, we're responsible for weather forecasting and interpretation and so will often liaise with our aerodynamics colleagues about the risks of it being hotter than certain limits.
the below is a reply to the above
Could you unpack a bit on what "competitor intelligence" does? Thanks! "Mr Holmes, I would love to tell you, but then I'd have to kill you."
I'm afraid that in this case the answer is no. All I can say is that we do some pretty neat things using the various kinds of information (audio, video, images, data, quotes, etc.) to gain intelligence on things like relative performance, other teams and so on.
What’s your proudest moment in F1 to date? Another tough one!
What makes me proudest is the Strategy team at McLaren. The team consists of around 5 people at its core and I can honestly say that they are the most talented, motivated, most passionate and smartest collection of individuals I have ever had the pleasure of working with. Everyone's level naturally rises when you work with people of this calibre and although the team is constantly looking for areas of improvement, challenging each other - it is also really just fun. I am very proud that I've played a part in pulling in each of my strategy teammates.
One other thing that gets close (other than Grand Prix which I'll cover in another answer) is Mission Control. McLaren were kind enough to give me the opportunity to manage the project to design a new Mission Control from scratch, build and deploy it. We were responsible for building contractors, ventilation, budget, aesthetic, even unpacking and setting up over 30 machines. The Mission Control room is an awesome facility and we built it together as a team. A lot of it is secret but here's a photo you are allowed to see:
https://pbs.twimg.com/media/EKssMOfWkAAwPE6?format=jpg&name=large
Hello, Do you go on reddit and check this sub sometimes? I would say more frequently than sometimes and I'm not the only one who works in F1 than does.
The content on here can be amazing at times - from some of the photos, to some of the data visualisations - and sometimes it is just fun to read comments and see how different our perspective of a race/event can be to that of fans.
You've talked about refuelling in a previous answer, and how it might affect strategies, but what is your opinion on the current tyres, and how they basically force the teams to do a two-stop strategy? Would you prefer if the tyres were manufactured in a way that makes them more durable? Thank you! So, I would start by saying the tyres don't force teams into 2 stop strategies, however, the front-runners will have a higher propensity for 2 stops over 1 stops in the current regime, which may present a more skewed picture to fans.
I believe and I think my colleagues and competitors agree, that good racing does involve some strategic flexibility and variety and a good sweet spot is to have races that are at crossover between 2 an 3 stop strategies (crossover means the timings and track position work out such as to be roughly equal).
However, Pirelli are in an unenviable position with regards to giving us tyres that would encourage 2 or 3 stop crossover events, as the drivers also need to be able to push the tyres lap after lap to get good racing.
So you can see that Pirelli have to try and balance both concerns and I think with that in mind they are doing a good job of finding a balance.
The strategy with sainz in Brazil was amazing man Thanks for the kind words but the strategy in Brazil (I hope) was as good as in Austria, or Hungary, etc. We didn't do anything particularly special but in this case the outcome was particularly good - we try and judge ourselves on our decisions/processes/analysis rather than the outcome as the outcome/result can be dependent on chance which is outside our control.
Have you found any books in particular helpful when it comes to the soft skills required working in a multi-department environment, also when it comes to the overarching strategic principles. Building on that, how often do you find yourself acting against the data/conclusions presented to you in favour of your own observations or “common sense” I think the most useful book has been Harry Potter and the Order of the Phoenix as it really demonstrates the importance of teamwork. Mark Corrigan's seminal "Business Secrets of the Pharaohs" and Michael Scott's "Somehow I Manage" are also essential reading.
Seriously though, a difficult one, I think a lot of skills are picked up outside of books, things like logical problem-solving, being extremely pro-active, etc. however, some books that I find have been useful are:
* Thinking Fast and Slow (almost essential reading, Thinking in Bets is also good)
* The Intelligent Entrepreneur (very inspiring)
* Outliers (to try and replicate some of the factors)
* Legacy (a great book about teamwork and management)
* Resonant Leadership (given to me by manager and a great read)
Speaking from a career standpoint, does having a background in something like biology factor into a possible role at all? Something of a mix of Biology and Engineering (Biomed, Bioengineering etc)? Thanks! It can do - I specialised in Biomedical Engineering as one of my electives in my final year at university, by the way.
Especially in strategy, different viewpoints/experiences/backgrounds can be very useful.
So we're hearing that Austria and maybe Britain is going ahead, is McLaren prepping for this or are they waiting for official word from Formula 1 I can't comment on the calendar as it stands as that would be breaking confidentiality. However, I can say that Liberty and the FIA are working tirelessly to bring a calendar together and it was something that we all discussed yesterday in the Sporting Working Group and is no doubt being discussed on a daily basis in other forums also.
The teams, including McLaren, are trying as well to prepare for the season starting soon whilst remaining flexible such that if there are changes we can adapt to them quickly and well.
How do you judge a mandatory 2 pit stops instead of only one? Can this make the races more enjoyable in your opinion? Thanks I don't think mandatory 2 stop strategies are a good idea. I can talk about this openly as its something we have debated with other teams, the FIA and Liberty as well and as a group we decided against it.
The reason I don't like mandatory 2 stop strategies is that it is artificial and artificial constraints (I believe) will lead to more strange/bad occurrences than good ones.
The benefit of mandatory 2 stop strategies is that everyone will make 2 stops which on average is more stops than we currently do and we believe that more stops (to a limit) typically lead to more exciting races.
However, the downside is that this is purely artificial. If the race is a clear 1 stop and we add a second stop artificially then it's more likely that that stop could be placed in a strange spot, because the sensitivity to its timing could be low - you may see cars pitting very early or late into the race and therefore the race is still like a 1 stop (you don't get the full benefit on racing of the second stop) - especially with a point for fastest lap.
You may then argue that we could force the second stop into a particular window, or set a limit on stint lengths. This also has issues, with cars likely to be concentrated on one side of the window and then there may need to be more artificial constraints.
I very firmly believe that the best way to encourage more stops is to keep constraints on strategists light and influence the primary factors that determine how many stops there are, that is:
* Pitloss (decrease = positive pressure on number of stops).
* Tyre behaviour (worse behaviour = positive pressure on number of stops).
What's it like working for the most positive and happiest team? Let me ask some of my friends at other teams and I'll get back to you soon.
Only kidding 😁 ! I can't say if McLaren is the most positive/happiest team as I've not been everywhere, but its certainly the most fun, positive, happy, smart, etc. etc. team I've ever worked at.
I love it. It's the people that make McLaren (and I know that's a cliche) special and I enjoy working in such a tight-knit, funny, motivated team.
What was the most difficult race strategy wise in your F1 career? My first race, I think stands outs - the 2013 Australian Grand Prix. I started work on January 2nd that year (my first real job in F1), had no strategy experience, had to do lots of winter reporting and had no strategy mentor (as the previous strategist had left already). I'm not sure "baptism of fire" and "thrown into the deep-end" are mixable metaphors but that's what it felt like.
To make matters more "interesting", the data showed and I was convinced that it would be a multiple stop (probably 3 stop) grand prix, based on what we had observed in Winter Testing and during Friday and Saturday running. This was in sharp contradiction to recent history at the Australian Grand Prix - so there were many heated discussions over this (with the majority of the team heavily disagreeing with it being more than a 1 stop race and every member having much more experience than I).
Turns out lack of experience can be an advantage sometimes. Teams tended to do a 2 or 3 stop race, but the latter was much better. Teams were reluctant to add stops given experience and recent history of the Australian Grand Prix and this pushed many into poor strategies, rather than adapting to the tyre behaviour we were observing.
2013 was an interesting year for strategy, with empirical data and lack of bias being really important to getting the strategies right. If you were to look through those races there are certain teams that flip-flopped a lot and others that quickly adapted to the new 'normal'.
Hi Randy, I don't know if this is already over but I'll try anyway. It's no surprise that working in F1 in any capacity must be extremely competitive. Is there any chance for someone considering a career change to be able to get a foot in the door? I work in investment management and realise that I want to be as close to my passion as possible. I'm open to pretty much any job just to get in. Naturally Id hope to have some transferable skills but i would focus on the chance to build skills and potentially go from there. Any advice? Thanks! I think perseverance and desire are key and yes it is possible. Coincidentally, I was working in the investment industry when I was offered the chance to take a full time role in strategy for the 2013 season.
I had worked at Williams for my final year project at university, but had been "out of the game" for a couple years when I got the offer to return.
Hello Randy, I am sorry if this has already been asked. But I would like to know your thoughts on: The new strategy involved on the new regulations/ground affect designs on the new Formula 1 vehicles? Is this a step in the right direction? Love to hear an professional / insider view on these new changes to the sport as the team Engineers do not seem to have a big say in the acceptace of the design limitations from FIA. I personally think the new regulations (Sporting, Technical and Financial) are moving the sport in the right direction and so am looking forwards to them being introduced over the coming years.
I would also say, as it may not be obvious to fans, that teams and engineers are heavily involved in these regulations. Whether that is us helping to draft parts of them, sense check them, vote on them, etc. it is a very open, constructive forum between the teams, the FIA and FOM (and other external experts as required).
Day 5: Mr. Singh is still answering questions. He's now one of us. LEGEND, and thanks to McLaren for allowing this. -Best AMA yet? DCanswered4questions. Haha thank you!
I will probably have to stop soon - but have a few more answers coming on a few families of question I haven’t yet answered. 🙂
Hi, Randy, Your answers are great, thank you! One of my most favorite McLaren performances of recent years was Fernando's insane race in Azerbaijan in 2018, when he had a double tyre puncture but still managed to finish 7th. Were you still his personal strategist back then? What was your role in his success? What were you thoughts when you saw him limping to the pits on two wheels? What did you do after that? What a race, eh? "Personal" strategist, you make us sound like mathematical butlers... 😁.
I wasn't Fernando's strategist at that time, Chris (one of our team) had already taken over by then and I was leading the team. It was not an easy race, although it may look like we sat back and watched, there's a lot of decisions made that you don't see and a lot of decisions made not to do stuff.
It was a good team effort from everyone to stay calm and try and pick up the pieces after the incident on the first lap, when the car rolled into the pits we did consider retiring it - but as a famous paper salesman once said "you miss 100% of the shots you don't take". What outsiders (who get special access) often notice is that the team stays calm, you can't get wobbly or excited over the incident/accident, you need to be calm, methodical and logical.
Great ama I think this is my favourite question so far. 😀
To be honest, the questions are very interesting and I have had so many people answer questions for me when I was in the position of being a fan/student and that changed my life by helping me get my dream job. If I can give back a fraction of the help/information I've received then I'll feel very happy!
How contagious is Landos laugh? I don't know about you but I find it quite grating. Do you know the feeling you get when you hear someone scratch their nails across a blackboard, or when your alarm goes off and you're still tired?
In all seriousness though, Lando is a funny guy and does always keep the mood nice and light.
Hi Randy. Who is your favourite member of the IT team? Sincerely, Definitely not a member of the IT team. Trick question! I don't have a favourite member of the IT team. 😁
Is there any role for physicians/doctors on race teams? As doctors, I would probably say no. Most teams won't employ their own doctors anymore or will do so in a very limited capacity.
However, that doesn't mean we don't have medical support, it tends to come through external organisations that support F1, such as Formula Medicine, for example, or the FIA's Medical Programme.
We also occasionally get applications for strategists who have a medical background - and that isn't something we look down upon, if anything it may provide a skillset/experiences that would be complementary to those of 'mostly engineers'.
I understand you may not answer because this may be sensitive, but Which method of steering the ship do you think is more effective ? The steely dictatorial grip of Ron Dennis or the More lenient managerial approach of Zak brown ? From a fan perspective, I love that mclaren drivers aren’t on such a tight leash. I never really worked under Ron as I joined in mid-2015. I have to say that the management style I’ve experienced throughout has been great - no blame culture, very open and understanding, letting the experts make decisions, etc.
Have you ever sat on the pitwall at the start and said (even to yourself) "And it's lights out and away we go."? I haven’t! I imagine I now will at whichever Grand Prix we get the pleasure of starting first this year.
Is Ferrari’s strategy as much of a running joke in the paddock as it is by the fans and here on reddit? Maybe you can’t really answer that truthfully but I’ve always been curious. It’s obviously a difficult job but I do wonder if they shoot themselves in the foot as often as it seems from the fans perspective. Answered elsewhere in the thread.
It's a difficult, stressful job, so you always have respect for your competitors.
In your experience, would adding flame decals to my truck make it go faster? Where are you going to place them? What colour are the flames?
Hey randy, i am a 15 year old girl who lives in india and my dream is to become a formula one engineer or work in f1 in anyway. What do u think are the educational qualifications needed to become a formula 1 engineer and what exposure do u think i need to even be close to full filling my dream. I have been following mclaren f1 team for quite some while now and love the friendly environment inside the team. As PapaKeth says, hopefully there are some answers to your question about what qualifications are required in my other comments.
Can I say though, don't let being 15, female, or living in India deter you - none of those things are a blocker to getting a job in F1 in the future.
Hi ! Thank you for answering some of our questions ! I've been wanting to ask, in the event of a car failure ( engine failure, hydraulics failure, etc) how do you become aware of it ? Do you have a real time data link to the car as an engineer ? Or is it something you see on a TV ? So we get data from the cars "live", there are hundreds of sensors on each car and this data is transmitted to us at the track and we also transmit it back to HQ in Woking. There are tens of people looking at the data and typically we will spot problems in the data, or based on feedback from the drivers, before we see them on TV.
That doesn't mean that we never spot stuff on TV first - sometimes you don't have instrumentation for certain things and so you may spot it visually first and the TV feed is a good way of sense-checking in some cases as well.
Do you think Stoffel deserved to still be in F1? (Not necessarily with McLaren) 100% - he is a great talent and I'm very glad that he is doing so well in Formula E.
Hi, thanks for doing this Q&A. Working for an F1 team is the dream, though I understand it's very difficult to get in. I'm disabled, would this matter to an employer? Do you have any advice on how I could approach this to someone as I'm just finishing my first year at University and hoping to apply for internships. Also, (sorry if you've answered this question already) I am studying Mathematics probably going to move into Mathematics and Statistics. Would it be possible to apply for a strategist position with a Mathematics degree? Your disability should not matter to an employer and I really believe it will not. We have people with disabilities working at McLaren. Perhaps if it is something you are concerned about or if its a disability that a team (or McLaren) could help make easier to manage (apologies if my wording is not sensitive) then I would highlight that in your application when you apply for a role.
Mathematics is entirely sensible as a background for a strategist role. I started off in Mathematics (& Statistics) before I moved over to Engineering (I found Mathematics at university to be too abstract for my liking). If you are doing Statistics anything that covers stochastic modelling would be particularly relevant to strategy.
I want to work in F1 in the future and preferably an engineer role. Would studying Mechanical Engineering be the best course to get a chance? Thanks I would say the majority of F1 engineers have studied Mechanical Engineering but that doesn't necessarily equate to it giving you the best chance of getting in. Engineering skills (and particularly mechanical engineering skills) will make you suitable for a multitude of roles in an F1 team (from strategy, to design engineering, to race engineering and performance analysis), so naturally you would expect more mechanical engineers.
I would have a think about the role that you would like to do and what qualifications would give you the best chance for that role, it could be that its Computer Science instead, or Aerodynamics, or maybe it is Mechanical Engineering. I would also think heavily about how interested you are in said degree - a degree is not a small investment of time, money and effort and its important you do something you enjoy.
the below is a reply to the above
Hey Randy, this answer was not directed at me but I just want to let you know it really just helped me out. I recently dropped out of mechanical engineering because I wasn't enjoying it and made the switch to computer science. It really pained me for a while thinking about giving up the F1 dream because my career choice wasn't ideal for me. So yeah, thanks. While I'm at it I'd like to add a question about computer science in an F1 team, what kind of roles could I take part of with that degree (specificaly at the track, though I see how that's a bit less likely)? Are there masters degrees or specializations more sought after in certain areas? Again, thanks a lot for you time in answering these questions and apologies for the bad english 😅 Hi, no worries and thank you for the appreciation.
Computer Science is a numerate enough degree at most places that you could lend yourself to any role as long as you can pick up the required engineering knowledge as well. Obviously, something in areas like Software Engineering, IT or Vehicle Science/Modelling may be most relevant/easy but there aren't necessarily many trackside opportunities in those areas.
Hello, First of all, thanks for answering all those questions. It's nice for us students dreaming of F1 to have something to look up to. So I am studying mechanical engineering in France and I am really looking forward to become a Motorsport Race engineer, and obviously F1 would be the dream. What I like the lost in that job is the trackside aspect, travelling, living the race. As I imagine, you need some years of experience to become a trackside F1 engineer. So do you think building experience in lower formulas like F2/F3, FE, or prototypes, GT...as performance/data engineer in smaller teams is a good way to line up for a trackside job in F1 ? Or is it recomended to start as an engineer at the lowest level directly in F1 and try to climb the ladder from there ? What is the proportion of your trackside colleagues that come from other motorsport categories ? Thanks ! Great - I look forward to working with you, or competing against you in the future!
That's a tough one. I wouldn't say trackside experience, per se, is very highly desired for trackside roles, but rather a demonstration of the deep technical/operational knowledge, the ability to deal with stress, etc. that makes people successful in those roles.
For this reason, I would say it's better to be in an F1 team and then attempt to try and go trackside, than to be trackside in a 'lower' formula.
The data, from my experience, suggests the same, the vast majority of engineers are in F1 first and then go trackside, rather than being trackside outside of F1 and moving to be trackside in F1.
That is not to say that experience in 'lower' formulae is not immensely useful to securing a job in F1 (just, I believe less preferred than F1 experience).
[deleted] We have - and not just sports too.
We have met with data scientists from football teams, coaches from the Olympics, rugby teams and professional cyclists - as well as many engineers and drivers from other motorsport series.
We also try and keep learning by working with partners or contacts across the military and commercial fields also.
the below is a reply to the above
Can you expand on the military part? Only at a high level, I'm afraid - as I wouldn't want to give anything away to others.
One area that I can talk about is that many teams will use military or ex-military experts to coach/train/share ideas with their personnel as there is a lot of overlap (as there is with many commercial fields also). So, for example, the military practice high quality communications on a regular basis, in highly stressful/pressured situations - that's an area where many teams have worked with ex-RAF personnel, for example, to share best practice, to coach and teach personnel and to improve processes.
Hi Randy My question is, if there's for example safety car deployed and the decision whether pit or not have to be made quickly, can the race engineer and the driver make a decision without asking you? They can but they shouldn't and I can't think of an occasion when they have.
Strategy decisions are made by the strategy team (not necessarily by me) and we have processes in place for making decisions where we have lots of time (normally measured in minutes), down to decisions where we may have 2 or 3 seconds to decide what to do for both cars and execute the communications/actions to do it.
Sometimes we may pre-make the decision and sometimes we have to make it on the fly or override our original intent - the thing about safety cars is that the cause of them can often change your variables/strategy.
Can you speak on how the sport has changed in the past few years in aspect to big data. How has data gathering and manipulation changed the sport? Specifically when it comes to making decisions based on past and current strategies. What kind of software and hardware have made the biggest changes, and how do you see the future of F1 benefit from AI/Big-data? Thanks for any info you may be able to share. McLaren have always been data-driven, so things haven't changed too much recently. We are finding better ways to analyse the data we have and to draw insights from it. I'm afraid I can't say too much more.
Why is it that you still see signs being held out to the drivers at the pit wall? Surely there can’t be anything said on these signs which can’t be said over the car radio? There’s gonna be a simple answer id imagine. I’ve always thought that it would be hard to try read a sign while travelling at 200 mph? It happens so rarely nowadays but the radio can fail, so the pitboards are a backup for that. The drivers should always give them a look as they go past (and they rarely do!) in case the radio has failed.
In the current times, where radio is public to other teams they could also be used as a way of passing coded messages, but we do watch them and that doesn't seem to be the case.
Hey Randy! Big fan of your work last season! My question is: Other than focusing on optimising strategy through the various instruments you have for every next race, what portion of your work is dedicated to improving the tools you have to work out strategies, or developing new technologies and methods? Is this something done consistently or over the winter? And lastly, how much does McLaren Applied work with you in using the newer tools in their work? Thanks :) Thank you.
With how busy the season is, often it is difficult to spend too much time doing development in the season, so big projects are typically tackled over the Winter period between seasons (although this is also getting compressed).
However, we are constantly, both in race weekends and between, developing our analysis techniques, smaller pieces of software, our understanding of competitors' behaviours, etc. so there is a constant ongoing development battle.
We do work with McLaren Applied fairly frequently across the business - we're not currently doing that on strategy projects.
the below question has been split into two, enumerated
Hi, thanks for doing this AMA! I've spent a lot of time reading your answers!I don't know if you'll answer this too but I'll try asking something anyway 1. What are the possible roles that a computer science graduate could cover? Hi! If you wanted to be very computer science focused, I guess software engineering, IT and some of the compute type roles would be interesting. If you're willing to pick up engineering knowledge then things like Vehicle Science modelling and CFD can open up too.
2. What are the main languages/frameworks used in the F1 enviroment?
3. Are you worried about Daniel coming next year? I mean, probably it will be hard not to laugh for the entire week-end when he's with Lando! Thanks in advance, totally not a computer science student.
Hi Randeep, first of all, thanks for your deep insights into the world of Formula 1 and McLaren. My question to you is, how do McLaren (or any other F1 team for that matter) ensure a stable electrical power supply in the case of a loss of normal power supply (Diesel Generators/UPS/battery banks) at both the factory and less likely to occur but still possible, at the track? Bonus question; how do teams (McLaren) prepare for different types of electrical outlets, voltages and currents all around the world? To start - I’ll say I’m not an electrician - take the below with a pinch of salt.
Most teams will have generators at the track (actually various kinds - to run stuff on the grid, in the trucks at European events and external ones at fly away races) and some kind of UPS system as well. Power supplies at circuits can be ‘temperamental’ and often there are power outages for specific reasons too.
In terms of for electrical outlets - we as end users just bring our UK stuff and plug it in! There’s an electrician and IT team who ensure that everything is set up and good to go and sneak with different voltage, phase, etc. supplies.
How did it feel to be part of mclaren last year? Like it has been in an incredible year with outstanding results. I have to say, I have enjoyed every year at McLaren and I started in 2015 when the results weren't outstanding - I am working with really awesome people and even through the bad times it is great to see the team spirit that pervades through everyone.
Last year was incredible and it's good to get an upswing in performance and to see teammates celebrating the thick after making it through the thin!
Who won the bet where Lando had to have ur face as his lock screen till Abu Dhabi last year? Lando won the bet, but he also clearly has no shame. 😃
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Thisoption trading system, accounts along with transaction techniques

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Uber is driven out of Germany

Uber is driven out of Germany
The Frankfurt District Court banned the company's operations in the country. Uber's online taxi booking service was out of work in Germany. The Frankfurt District Court prohibited the company from operating in Germany. Attempting to stay illegally will cost the company a pretty penny.
https://preview.redd.it/7k2wtnodnj641.png?width=1920&format=png&auto=webp&s=54ae3192b397b578c95e4f8b5518a2709f8d53e3
According to the decision, for each illegal trip on German soil, an American startup will have to pay € 250. In the case of repeated violations, this amount will increase until it reaches € 250 thousand.
It is worth noting that due to the conclusion of the European Court in 2017, the company has already significantly changed its model of work in the EU. Instead of using many independent drivers, as is customary in North America, the service concludes exclusive contracts with private facilities, whose employees and cars have all the necessary licenses.
However, this was not enough for the German taxi drivers: it was they who filed a lawsuit in violation of the rules of fair competition. Naturally, Uber has already stated that they will challenge the court decision, but for now, customers will still be able to use the services of the company. This is not surprising, because a complete departure from such a large market as Germany can undermine the already precarious financial situation of a startup: Uber continues to burn investors' money in the insatiable stove of market expansion and, according to management, can become profitable no earlier than 2021.
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Belgian labor authority launches case against British Deliveroo

Belgian labor authority launched the first lawsuit against Deliveroo, a British food delivery group, challenging working conditions for 3,500 company drivers in Brussels.
The authority, a division of the Belgian Ministry of Labor, filed a lawsuit against Deliveroo's riders' legal status after an 18-month investigation found that the company did not comply with Belgian labor laws.
Riders are paid for per delivery and are considered self-employed, which means that they do not have access to healthcare, overtime and public holidays.
Deliveroo said a court ruling that the riders were hired workers and not self-employed would deprive them of the flexibility that many wanted.
After the hearing, the case was set for trial in October next year and can last several years if there are appeals.
Martin Willems, permanent secretary of the CNE union who took part in the investigation, said that one of the riders broke his collarbone and did not work for four months, that is, he could not pay for the apartment and became homeless.
Deliveroo, the London-based company, in which Amazon acquired a share subject to British competition, is one of Europe's fastest-growing online businesses.
The company uses 60,000 riders in gray and turquoise jackets to deliver food from over 80,000 restaurants and take-outs in 13 countries.
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What Is Capitalism?

Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.
The purest form of capitalism is free market or laissez-faire capitalism. Here, private individuals are unrestrained. They may determine where to invest, what to produce or sell, and at which prices to exchange goods and services. The laissez-faire marketplace operates without checks or controls.
Today, most countries practice a mixed capitalist system that includes some degree of government regulation of business and ownership of select industries.
Volume 75% 2:05

Capitalism

Understanding Capitalism

Functionally speaking, capitalism is one process by which the problems of economic production and resource distribution might be resolved. Instead of planning economic decisions through centralized political methods, as with socialism or feudalism, economic planning under capitalism occurs via decentralized and voluntary decisions.

KEY TAKEAWAYS

  • Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector.
  • Capitalism depends on the enforcement of private property rights, which provide incentives for investment in and productive use of productive capital.
  • Capitalism developed historically out of previous systems of feudalism and mercantilism in Europe, and dramatically expanded industrialization and the large-scale availability of mass-market consumer goods.
  • Pure capitalism can be contrasted with pure socialism (where all means of production are collective or state-owned) and mixed economies (which lie on a continuum between pure capitalism and pure socialism).
  • The real-world practice of capitalism typically involves some degree of so-called “crony capitalism” due to demands from business for favorable government intervention and governments’ incentive to intervene in the economy.

Capitalism and Private Property

Private property rights are fundamental to capitalism. Most modern concepts of private property stem from John Locke's theory of homesteading, in which human beings claim ownership through mixing their labor with unclaimed resources. Once owned, the only legitimate means of transferring property are through voluntary exchange, gifts, inheritance, or re-homesteading of abandoned property.
Private property promotes efficiency by giving the owner of resources an incentive to maximize the value of their property. So, the more valuable the resource is, the more trading power it provides the owner. In a capitalist system, the person who owns the property is entitled to any value associated with that property.
For individuals or businesses to deploy their capital goods confidently, a system must exist that protects their legal right to own or transfer private property. A capitalist society will rely on the use of contracts, fair dealing, and tort law to facilitate and enforce these private property rights.
When a property is not privately owned but shared by the public, a problem known as the tragedy of the commons can emerge. With a common pool resource, which all people can use, and none can limit access to, all individuals have an incentive to extract as much use value as they can and no incentive to conserve or reinvest in the resource. Privatizing the resource is one possible solution to this problem, along with various voluntary or involuntary collective action approaches.

Capitalism, Profits, and Losses

Profits are closely associated with the concept of private property. By definition, an individual only enters into a voluntary exchange of private property when they believe the exchange benefits them in some psychic or material way. In such trades, each party gains extra subjective value, or profit, from the transaction.
Voluntary trade is the mechanism that drives activity in a capitalist system. The owners of resources compete with one another over consumers, who in turn, compete with other consumers over goods and services. All of this activity is built into the price system, which balances supply and demand to coordinate the distribution of resources.
A capitalist earns the highest profit by using capital goods most efficiently while producing the highest-value good or service. In this system, information about what is highest-valued is transmitted through those prices at which another individual voluntarily purchases the capitalist's good or service. Profits are an indication that less valuable inputs have been transformed into more valuable outputs. By contrast, the capitalist suffers losses when capital resources are not used efficiently and instead create less valuable outputs.

Free Enterprise or Capitalism?

Capitalism and free enterprise are often seen as synonymous. In truth, they are closely related yet distinct terms with overlapping features. It is possible to have a capitalist economy without complete free enterprise, and possible to have a free market without capitalism.
Any economy is capitalist as long as private individuals control the factors of production. However, a capitalist system can still be regulated by government laws, and the profits of capitalist endeavors can still be taxed heavily.
"Free enterprise" can roughly be understood to mean economic exchanges free of coercive government influence. Although unlikely, it is possible to conceive of a system where individuals choose to hold all property rights in common. Private property rights still exist in a free enterprise system, although the private property may be voluntarily treated as communal without a government mandate.
Many Native American tribes existed with elements of these arrangements, and within a broader capitalist economic family, clubs, co-ops, and joint-stock business firms like partnerships or corporations are all examples of common property institutions.
If accumulation, ownership, and profiting from capital is the central principle of capitalism, then freedom from state coercion is the central principle of free enterprise.

Feudalism the Root of Capitalism

Capitalism grew out of European feudalism. Up until the 12th century, less than 5% of the population of Europe lived in towns. Skilled workers lived in the city but received their keep from feudal lords rather than a real wage, and most workers were serfs for landed nobles. However, by the late Middle Ages rising urbanism, with cities as centers of industry and trade, become more and more economically important.
The advent of true wages offered by the trades encouraged more people to move into towns where they could get money rather than subsistence in exchange for labor. Families’ extra sons and daughters who needed to be put to work, could find new sources of income in the trade towns. Child labor was as much a part of the town's economic development as serfdom was part of the rural life.

Mercantilism Replaces Feudalism

Mercantilism gradually replaced the feudal economic system in Western Europe and became the primary economic system of commerce during the 16th to 18th centuries. Mercantilism started as trade between towns, but it was not necessarily competitive trade. Initially, each town had vastly different products and services that were slowly homogenized by demand over time.
After the homogenization of goods, trade was carried out in broader and broader circles: town to town, county to county, province to province, and, finally, nation to nation. When too many nations were offering similar goods for trade, the trade took on a competitive edge that was sharpened by strong feelings of nationalism in a continent that was constantly embroiled in wars.
Colonialism flourished alongside mercantilism, but the nations seeding the world with settlements were not trying to increase trade. Most colonies were set up with an economic system that smacked of feudalism, with their raw goods going back to the motherland and, in the case of the British colonies in North America, being forced to repurchase the finished product with a pseudo-currency that prevented them from trading with other nations.
It was Adam Smith who noticed that mercantilism was not a force of development and change, but a regressive system that was creating trade imbalances between nations and keeping them from advancing. His ideas for a free market opened the world to capitalism.

Growth of Industrial Capitalism

Smith's ideas were well-timed, as the Industrial Revolution was starting to cause tremors that would soon shake the Western world. The (often literal) gold mine of colonialism had brought new wealth and new demand for the products of domestic industries, which drove the expansion and mechanization of production. As technology leaped ahead and factories no longer had to be built near waterways or windmills to function, industrialists began building in the cities where there were now thousands of people to supply ready labor.
Industrial tycoons were the first people to amass their wealth in their lifetimes, often outstripping both the landed nobles and many of the money lending/banking families. For the first time in history, common people could have hopes of becoming wealthy. The new money crowd built more factories that required more labor, while also producing more goods for people to purchase.
During this period, the term "capitalism"—originating from the Latin word "capitalis," which means "head of cattle"—was first used by French socialist Louis Blanc in 1850, to signify a system of exclusive ownership of industrial means of production by private individuals rather than shared ownership.
Contrary to popular belief, Karl Marx did not coin the word "capitalism," although he certainly contributed to the rise of its use.

Industrial Capitalism's Effects

Industrial capitalism tended to benefit more levels of society rather than just the aristocratic class. Wages increased, helped greatly by the formation of unions. The standard of living also increased with the glut of affordable products being mass-produced. This growth led to the formation of a middle class and began to lift more and more people from the lower classes to swell its ranks.
The economic freedoms of capitalism matured alongside democratic political freedoms, liberal individualism, and the theory of natural rights. This unified maturity is not to say, however, that all capitalist systems are politically free or encourage individual liberty. Economist Milton Friedman, an advocate of capitalism and individual liberty, wrote in Capitalism and Freedom (1962) that "capitalism is a necessary condition for political freedom. It is not a sufficient condition."
A dramatic expansion of the financial sector accompanied the rise of industrial capitalism. Banks had previously served as warehouses for valuables, clearinghouses for long-distance trade, or lenders to nobles and governments. Now they came to serve the needs of everyday commerce and the intermediation of credit for large, long-term investment projects. By the 20th century, as stock exchanges became increasingly public and investment vehicles opened up to more individuals, some economists identified a variation on the system: financial capitalism.

Capitalism and Economic Growth

By creating incentives for entrepreneurs to reallocate away resources from unprofitable channels and into areas where consumers value them more highly, capitalism has proven a highly effective vehicle for economic growth.
Before the rise of capitalism in the 18th and 19th centuries, rapid economic growth occurred primarily through conquest and extraction of resources from conquered peoples. In general, this was a localized, zero-sum process. Research suggests average global per-capita income was unchanged between the rise of agricultural societies through approximately 1750 when the roots of the first Industrial Revolution took hold.
In subsequent centuries, capitalist production processes have greatly enhanced productive capacity. More and better goods became cheaply accessible to wide populations, raising standards of living in previously unthinkable ways. As a result, most political theorists and nearly all economists argue that capitalism is the most efficient and productive system of exchange.

Capitalism vs. Socialism

In terms of political economy, capitalism is often pitted against socialism. The fundamental difference between capitalism and socialism is the ownership and control of the means of production. In a capitalist economy, property and businesses are owned and controlled by individuals. In a socialist economy, the state owns and manages the vital means of production. However, other differences also exist in the form of equity, efficiency, and employment.

Equity

The capitalist economy is unconcerned about equitable arrangements. The argument is that inequality is the driving force that encourages innovation, which then pushes economic development. The primary concern of the socialist model is the redistribution of wealth and resources from the rich to the poor, out of fairness, and to ensure equality in opportunity and equality of outcome. Equality is valued above high achievement, and the collective good is viewed above the opportunity for individuals to advance.

Efficiency

The capitalist argument is that the profit incentive drives corporations to develop innovative new products that are desired by the consumer and have demand in the marketplace. It is argued that the state ownership of the means of production leads to inefficiency because, without the motivation to earn more money, management, workers, and developers are less likely to put forth the extra effort to push new ideas or products.

Employment

In a capitalist economy, the state does not directly employ the workforce. This lack of government-run employment can lead to unemployment during economic recessions and depressions. In a socialist economy, the state is the primary employer. During times of economic hardship, the socialist state can order hiring, so there is full employment. Also, there tends to be a stronger "safety net" in socialist systems for workers who are injured or permanently disabled. Those who can no longer work have fewer options available to help them in capitalist societies.

Mixed System vs. Pure Capitalism

When the government owns some but not all of the means of production, but government interests may legally circumvent, replace, limit, or otherwise regulate private economic interests, that is said to be a mixed economy or mixed economic system. A mixed economy respects property rights, but places limits on them.
Property owners are restricted with regards to how they exchange with one another. These restrictions come in many forms, such as minimum wage laws, tariffs, quotas, windfall taxes, license restrictions, prohibited products or contracts, direct public expropriation, anti-trust legislation, legal tender laws, subsidies, and eminent domain. Governments in mixed economies also fully or partly own and operate certain industries, especially those considered public goods, often enforcing legally binding monopolies in those industries to prohibit competition by private entities.
In contrast, pure capitalism, also known as laissez-faire capitalism or anarcho-capitalism, (such as professed by Murray N. Rothbard) all industries are left up to private ownership and operation, including public goods, and no central government authority provides regulation or supervision of economic activity in general.
The standard spectrum of economic systems places laissez-faire capitalism at one extreme and a complete planned economy—such as communism—at the other. Everything in the middle could be said to be a mixed economy. The mixed economy has elements of both central planning and unplanned private business.
By this definition, nearly every country in the world has a mixed economy, but contemporary mixed economies range in their levels of government intervention. The U.S. and the U.K. have a relatively pure type of capitalism with a minimum of federal regulation in financial and labor markets—sometimes known as Anglo-Saxon capitalism—while Canada and the Nordic countries have created a balance between socialism and capitalism.
Many European nations practice welfare capitalism, a system that is concerned with the social welfare of the worker, and includes such policies as state pensions, universal healthcare, collective bargaining, and industrial safety codes.

Crony Capitalism

Crony capitalism refers to a capitalist society that is based on the close relationships between business people and the state. Instead of success being determined by a free market and the rule of law, the success of a business is dependent on the favoritism that is shown to it by the government in the form of tax breaks, government grants, and other incentives.
In practice, this is the dominant form of capitalism worldwide due to the powerful incentives both faced by governments to extract resources by taxing, regulating, and fostering rent-seeking activity, and those faced by capitalist businesses to increase profits by obtaining subsidies, limiting competition, and erecting barriers to entry. In effect, these forces represent a kind of supply and demand for government intervention in the economy, which arises from the economic system itself.
Crony capitalism is widely blamed for a range of social and economic woes. Both socialists and capitalists blame each other for the rise of crony capitalism. Socialists believe that crony capitalism is the inevitable result of pure capitalism. On the other hand, capitalists believe that crony capitalism arises from the need of socialist governments to control the economy.
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submitted by MattPetroski to ItalicoIntegralism [link] [comments]

Maersk relies on cold storage to grow its land transportation business

Maersk relies on cold storage to grow its land transportation business
Maersk, the world's largest shipping company, plans to focus on premium services such as cold storage and digital solutions to avoid competition with its own freight forwarding customers as it expands in the land transportation business.
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Since the announcement of the new strategy in 2016, which included the sale of its oil and gas business, Maersk has focused not so much on market share, but on profitability and cost reduction in container shipping and logistics.
The company now hopes that its non-ocean terminal and internal logistics operations will account for most of its future revenue. In 2018, shipping accounted for almost 80% of the main revenue.
While Maersk moves every fifth container sent to sea, it carries out ground transportation from ports to warehouses and distribution centers for less than a quarter of its customers.
Speaking to reporters on Monday, APM Terminals Executive Director and Maersk Board Member Morten Engelstoft said that Maersk has the opportunity to “catch up” with competing land shippers.
In order to keep up with the latest global news, visit ETFinance.
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ETFinance is a trading name of MAGNUM FX (CYPRUS) LTD registration number HE 360548 authorized and regulated by the Cyprus Securities and Exchange Commission (the "CySEC") under license number 359/18.
submitted by ETFinance_blog to u/ETFinance_blog [link] [comments]

What T4B, RoboForex & other brokers bring to the table + why im still bullish af going forward for GVT

Pretty lengthy reply so thought id reply with a new thread for visibility:
@koalaindisguise -> ''Before the project launch, partnership with these forex companies was announced with a big hype. They were not US/UK financial institutions but at least they were companies with legal entities.
I was thinking/hoping that we would be able to entrust our tokens to professional brokers working under these companies. In the end, we have to deal with noname finance gurus on the internet who wants to gamble other people's savings with 50% success fee.
We are just slowly bleeding out one way or the other. I don't think US adoption will turn the table because of tokenomics.''
Before i start:
  • You talk about dealing with some noname finance gurus on the internet, and you would quite happily entrust your tokens to a 'professional broker'. This is the problem with the current industry. There is no transparency. You are entrusting your tokens blindly and you have no idea how your funds are actually being managed nor past performance of these brokers. Genesis Vision gives you the freedom to diversify your investments across multiple different managers, brokers, account types (forex/crypto/stocks) as well as GV Funds & even copytrading soon. With all past and real time results on display.
  • Some of these noname finance gurus might actually be pretty poor traders, in which case they will drop to the bottom of the pile and their trading history open for all to see. There are some good traders too, following all available investment advice would see you wait to make an investment in the right manager based on their program metrics.
  • TLDR - There are good eggs and there are bad eggs, blame the manager for their bad trades, not the platform. Also remember it was your choice to invest in that manager and all the metrics were available for you to view before you did.
Back to your question regarding partnerships:
Tools4Brokers:
  • T4B engage in technological maintenance and software development for brokerage companies, mainly in forex markets.
  • T4B provides solutions to over 250 companies from thirty different countrys
  • Aleksey Kutsenko CEO of Tools For Brokers is the co-founder & CBDO of Genesis Vision
  • Aleksey is responsible for the implementation strategy of the Genesis Vision platform in the Forex industry
  • T4B supply Genesis Vision with ready codebase solutions.
  • A few details on Alekseys background -> https://blog.genesis.vision/genesis-vision-development-plans-for-2018-from-our-cbdo-alexey-kutsenko-c9aa484bb714
IMO this is a very valuable partnership to have. T4B already had an existing portfolio of brokers prior to the release of the GVT platform. This will have proved greatly beneficial in relation to B2B networking for Genesis Vision, not to mention any techical knowledge and business advice T4B will have bought to the table. Going forward im sure this would continue to be greatly beneficial.
RoboForex:
  • RoboForex supports a roster of approximately 9400 assets from eight different categories, those being forex, stocks, indices, ETFs, commodities, metals, energies and even cryptocurrencies with liquidity for them provided by eight separate liquidity providers.
  • Genesis Vision managers have a “pro standard” account type, meaning that they have access to 36 currency pairs, metals, CFDs and cryptocurrencies.
  • GV Managers can trade with a leverage of up to 1:100
The RoboForex broker is just another broker to add to the list of tools and markets available for GV managers to trade on. I have not personally traded on RoboForex so cannot offer an opinion on how good of a broker they are, but at current they just add an addition choice for trading in the GV ecosystem.
This goes for other Crypto/Forex brokers that will arrive in the platform shortly and are currently integrated. With more and more tools and opportunites becoming available for both the current and future GV managers, the higher chances of creating a successful happy manager
MY reasons for continuing to be bullish on GVT
  • The team continue to focus on development that attracts more managers and investors to the platform (Okex, Huobi, Exante, Chinese translation, Copytrading etc.)
  • Im not saying every manager will be profitable, far from it, but more managers = more profits that flow through to buy pressure on GVT.
  • A new leveling system is being developed that rewards managers based on individual performance rather than creating competition between one another
  • Funds are extremely underrated
  • Some did not agree, but the addition of the multicurrency wallet was the BEST step to take. This will allow for further adoption of the platform and growth in the long run, some of you have seen this as a negative step because you are under the impression it has caused the price in sats to go down. I would like to see more assets added to the multicurrency wallet, not less.
  • The token has solid use cases & if you see the latest AMA their are discussions for additional use cases. These usecases scale heavily with adoption.
I check their Github daily. They are building out this platform making more tools and brokers available, which will only lead to increased adoption by Crypto/Forex Managers & Investors.
Then the marketing comes after the development is complete and the platform is perfected
  • We will see hundreds and in time thousands of managers longer term. If we take a conservative guess and say 20% of these managers are making profit, all this profit will flow through the GVT token. There is now only buy pressure on the token, the sell pressure was removed with the addition of the multicurrency wallet.
  • Some of you have previously said 'Well wont the investor just sell their profits distributed in GVT?'. Of course they can, if they choose too. But alternatively they can also hold GVT for reduced trading fees, reinvest their GVT to another program, invest in a GV Fund, subscribe to a copy trader using GVT as the subscription fee. The latter again, positively effects the Genesis Vision Token.
Heres my other reasons (Yes i've been watching GVT a long time):
submitted by elcryptonerd to genesisvision [link] [comments]

Facebook Ads - Learning phase notification

Hi guys
I am now doing consulting services for a company, and they have a Facebook account in a very weird situation.
I noticed this message in the account:
You have 154 ads running or in review and 77% of your amount spent was on ads in the learning phase over the last 14 days.
When you have many ads running at the same time, it's likely more ads will remain in the learning phase and more budget will be spent before performance has optimized. Since you've spent over 20% of your budget on ads in the learning phase over the last 14 days, we recommend reducing the overall number of ads running in your account to decrease the amount of budget spent in learning phase.
It's a large scale ad account, and after the learning phase came in, the account was in this situation and seems no way to get out of this.
All the campaigns are optimized for "Conversion" on a very competitive niche (CFD Trading), and the ad-sets are not going out of the learning phase, but still, they are bringing leads, but also expensive leads.
From your experience, what are the best actions to take in these situations?

Cheers
submitted by ibrahimjihadbassa to PPC [link] [comments]

Britain's market will be filled with fake Italian products in case of no-deal Brexit

Britain's market will be filled with fake Italian products in case of no-deal Brexit
If a country leaves the European Union without an agreement with Brussels, fake products will fill the UK markets, and these products will mainly be considered Italian, an Italian agricultural association Coldiretti declared.
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"Made in Italy sign will no longer be under European protection and it's going to face unlawful competition from imitation products sold overseas and in non-EU countries," Coldiretti affirmed.
The volume of Italian food exports to the UK in 2018 reached 3,4 billion euro, making it the fourth country in the list of Italy's partners in this industry.
The largest share comes from wine (827 million euro) due to the prosecco excitement, as Coldiretti notes. It is estimated that in Britain every third bottle of sparkling wine sold by Italy is exported.
The product, marked with a sign of Made in Italy, could be severely affected by tariff barriers and customs problems that could follow no-deal Brexit.
The British government previously published a part of documents on the possible consequences of no-deal Brexit. It said that the problems would begin on the very first day.
Furthermore, concerning the growth of public confusion, authorities expect a significant increase in electricity prices, difficulties with the supply of food and medicine.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
submitted by Itrader_com to brexit [link] [comments]

European Commission allows Varta AG to buy Energizer shares

European Commission allows Varta AG to buy Energizer shares
The European Commission, in accordance with EU regulation on production concentration, has recognized Varta AG as an acceptable buyer of assets sold by Energizer to acquire Spectrum Brands' electric battery and portable lighting section.
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The European Commission "has also allowed, following EU concentration rules, the acquisition by Varta AG of assets to be sold subject to certain conditions," the EC communiqué circulated in Brussels on Tuesday said.
In December 2018, the European Commission allowed Energizer to purchase the Spectrum Brands battery and portable lighting section under some conditions. Particularly, Energizer was obliged to sell its business of household and individual cells under the Varta brand or without such a brand to an acceptable buyer.
The deal with Varta AG was proposed by Energizer to alleviate the concerns of the European Commission, which feared that the combination of Energizer and Spectrum would significantly reduce competition in several battery and charger markets in several countries of the European Economic Area.
The package of assets that Energizer has offered for sale, according to the European Commission, consists of all the activities of Spectrum in the field of household and special batteries, chargers and portable lighting, sold under the Varta brand and without such a brand in Europe, the Middle East, and Africa.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
submitted by Itrader_com to u/Itrader_com [link] [comments]

Netflix saved one of New York's oldest cinema

Netflix saved one of New York's oldest cinema
In August 2019, the Paris Cinema closed due to financial problems. However, Netflix rented it for 10 years and literally gave the legend a new life.
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The Paris Cinema was opened in New York already in 1948, it does not have ten halls and ultra-modern sound, but it is considered legendary and it fully deserves this title. It is this place that is considered the center of the collection of fans of films of the genre of art house, and it was here that there was a large concentration of paintings in foreign languages, reports Deadline.
As often happens in the modern world, money problems put the cinema in danger of closing, but Netflix decided to support the "old man", and at the same time get small bonuses for his beloved ones. In November, the cinema reopened its doors to viewers; in its only room, the Netflix “Marriage Story” began to be rented, with Scarlett Johansson and starring Adam Driver. I must admit that the investment turned out to be quite profitable, because Netflix currently has a legendary building, ready to show any movie novelties of the company, and the audience saved their favorite movie theater.
There is another plus, less obvious, but no less valuable. Now film academics will be able to accept Netflix films for participation in various competitions because the company now has official movie theater rental.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
submitted by Itrader_com to u/Itrader_com [link] [comments]

TRON(TRX) officially lists on Hydax on November 7th, ! Trade to earn rewards!

https://hydax.zendesk.com/hc/article_attachments/360042478012/ios-banner-__.png
I think if every traders out there have this same believed about crypto-currency trade then no profits would be realized by the traders which is why I thought its worth sharing with my fellow traders about the new trading platform which can easily solve all the problems preventing them from making profits in their trades. The name of this trading platform is called Hydax Exchange. HYDAX as I have mentioned earlier on developed a platform which connects different trades around the globe in a single platform. The technology behind HYDAX is one of the best and advanced technologies every traders and investors could ever think of. HYDAX has make provision for the availability of the good marketplace for every traders to trade which this has also increases the scalability and functionality of financial markets. HYDAX trading platform is designed in such a way that users and traders can connect their trading accounts in different exchange platform together in one single platform. Traders will be able to trade FX, CFD’s and CRYPTO-CURRENCY together in a single platform.
To celebrate the deep cooperation achievement between TRON and Hydax Exchange, TRON along with Hydax Exchange are hosting a TRX trading competition with 10,000 HDX rewards for you!
More info: https://hydax.zendesk.com/hc/en-001/articles/360035653592-TRON-TRX-officially-lists-on-Hydax-on-November-7th-Trade-to-earn-rewards-
submitted by riqelme to CryptoICONews [link] [comments]

De la Rue to suspend the payment of dividends and review its business

De la Rue to suspend the payment of dividends and review its business
De La Rue Plc, the UK-based passport and banknote publisher, said Tuesday its banknote printing division is struggling with low margins amid fierce competition and the growing popularity of digital payments. Therefore, it plans to suspend the payment of dividends and review its business to reduce costs.
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The company said it expects adjusted earnings from £ 20 million ($ 25.66 million) to £ 25 million for the full year 2019-20.
In October, the company warned that annual profits would be below market expectations.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
submitted by Itrader_com to u/Itrader_com [link] [comments]

CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Related Terms
Satoshi
The satoshi is the smallest unit of the bitcoin cryptocurrency. It is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.
Chartalism Chartalism is a non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Satoshi Nakamoto The name used by the unknown creator of the protocol used in the bitcoin cryptocurrency. Satoshi Nakamoto is closely-associated with blockchain technology.
Bitcoin Mining, Explained Breaking down everything you need to know about Bitcoin Mining, from Blockchain and Block Rewards to Proof-of-Work and Mining Pools.
Understanding Bitcoin Unlimited Bitcoin Unlimited is a proposed upgrade to Bitcoin Core that allows larger block sizes. The upgrade is designed to improve transaction speed through scale.
Blockchain Explained
A guide to help you understand what blockchain is and how it can be used by industries. You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.
Top 6 Books to Learn About Bitcoin About UsAdvertiseContactPrivacy PolicyTerms of UseCareers Investopedia is part of the Dotdash publishing family.The Balance Lifewire TripSavvy The Spruceand more
By Satoshi Nakamoto
Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

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Michael Bloomberg may run for US presidential election in 2020

Michael Bloomberg may run for US presidential election in 2020
Billionaire and former New York City Mayor Michael Bloomberg may take part in the U.S. presidential election in 2020. As is known, the reason for this is his dissatisfaction with the current candidates, who should compete with Donald Trump.
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Initially, Bloomberg ruled out the possibility of his participation in the elections in 2020. But even now, he has not yet made a final decision on whether he would run or not.
However, he is taking steps to participate in the election campaign. In particular, he is preparing to submit documents this week to participate in the "primaries" of Democrats in Alabama.
In a statement on Thursday, Bloomberg's adviser, Howard Wolfson, said the billionaire is concerned that current Democratic presidential candidates are “unable” to defeat Trump in the election.
Bloomberg was actively supporting Hillary Clinton during the campaign in 2016 and criticizing Trump.
In case of participation in the election campaign, Bloomberg will have to quickly prepare for competition with candidates such as former U.S. Vice President Joe Biden and Massachusetts Senator Elizabeth Warren. They have already been traveling around the country for several months, meeting with voters.
Bloomberg said Trump's tax reform will not accelerate the U.S. economy, as tax cuts will not lead to a significant increase in wages or investments, as promised by the Republicans.
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Eurowings to be back by 2021

Eurowings to be back by 2021
German airline Lufthansa said its low-cost carrier Eurowings should return to profitability by 2021, due to better-than-expected third-quarter results.
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Lufthansa said quarterly adjusted earnings before interest and tax (EBIT) fell 8% to € 1.3 billion ($ 1.44 billion), and revenue grew by 2% to 10.2 billion.
Due to competition with Ryanair and EasyJet, Lufthansa cut costs and announced a restructuring plan for Eurowings in June.
Lufthansa said the Eurowings plan is showing first results, and in the long term, it should reach a margin of 7 percent.
Lufthansa said Wednesday that a flight attendant strike for two days this week would affect the cancellation of 1,300 flights and affect 180,000 passengers.
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Europe decided to abandon Visa and Mastercard

Europe decided to abandon Visa and Mastercard
European banks have begun to create their payment system. It will replace American counterparts, including Visa, Mastercard, and American Express.
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This idea arose two years ago. As is known, at least 20 financial institutions in Europe have already begun to develop the payment system. This group includes several French banks and the German Deutsche Bank. The new pan-European payment system is called PEPSI (Pan-European Payment System Initiative) and should replace the American Visa, Mastercard, and American Express.
Earlier, Europe has already attempted to create a pan-European payment system. The Monnet project appeared In 2012, but it never achieved a result, including the European authorities, which saw in this project a threat of free competition.
It is too early to assess the fundamental effect on the business of American payment systems. Even if the project succeeds, years will pass before the initiative goes into the implementation phase and begins to influence the assessment of Visa and Mastercard, experts say.
In the third quarter of 2019, companies received good financial results. Mastercard revenue grew 14.5% to $ 4.47 billion. Earnings per share were $ 2.01 apiece. Visa's revenue growth for the reporting period is 11%, and earnings per share growth are 18%. Companies actively conduct buyback, which positively affects quotes.
Shares of American payment systems declined immediately after the news came out earlier this week. But quotes quickly recovered losses.
Analysts expect stock prices to rise in the coming year: Visa - 13%, up to $ 200 per share, Mastercard - 13.6%, up to $ 310 per share, and American Express - 11.3%, up to $ 135 per share.
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Artificial meat producer Beyond Meat gets its first-time profit

Artificial meat producer Beyond Meat gets its first-time profit
Vegetable protein meat maker Beyond Meat made its first-ever net profit. The company completed the last quarter positively at $4.1 million. Before it, the startup remained deeply unprofitable.
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Beyond Meat artificial hamburgers, sausages and other dishes have become especially popular in recent years among people seeking to reduce the consumption of animal products. For example, last month, the world's largest chain of fast-food restaurants McDonald's announced the testing of sandwiches "made from plants, salads, and tomatoes" in Canada using Beyond Meat products.
Beyond Meat, along with its competitor Impossible Foods, abandoned mushroom and bean cutlets and started using pea and soy protein fillers that more closely remain beef. Now it is one of the fastest-growing business segments in the USA.
Beyond Meat was the first vegetable meat producer to go public. The company held an initial public offering on NASDAQ on May 1 of this year, and the selling price was $25 per share. On the first day, stock quotes reached 163%.
Since the IPO, securities have more than quadrupled in price compared to the initial offer price. On the first day of trading, the company's capitalization amounted to $3.8 billion. By the end of October, the startup’s market value rose to $6.4 billion.
Beyond Meat revenue in the third quarter increased by 250% and reached $92 million compared with revenue of $26.3 million in the same quarter a year ago. Net income was $4.1 million. A year ago, the company received a loss of $9.3 million. Earnings per share reached $0.06.
The manufacturer expects annual sales to range from $265 million to $275 million. Startup leaders say that vegetable protein will be able to replace meat around the world by 2035.
On Tuesday, October 29, Beyond Meat shares fell by 20%. The reason could be the end of a six-month block on the sale of 80% of the company after the IPO in May.
The fall in the price of securities was also facilitated by the manufacturer’s statement that it would have to increase discounts on its products in stores and advertising costs due to increased competition.
According to the experts surveyed, two of them believe in business prospects and recommend buying stocks, eight advised to hold and two more recommend selling stocks.
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QuickTrade CFD Competition CFDs vs Shares, Which are Best? Stock Market College (Pty) Ltd - YouTube

PrimeXBT is an award-winning trading platform that allows you to trade global markets including Crypto, Commodities, Indices, and Forex. Benefit from advanced trading tools, low fees, and instant order execution! #1 social trading platform by eToro Group Limited, founded in 2007 in Cyprus (with offices in England and Israel). Positioned as innovative web platform for trading, eToro stands out from other CFD trading platforms due to social trading possibilities, a.k.a. mirror trading or copy trading – meaning that users may simply follow the actions of trusted brokers and do the same investments. AlteumX CFD Demo Trading Competition will be held over a period of one week in which the Top 5 traders will be rewarded $50 USD each! Competition period : 2019/03/31- 5:00 PM ET to 2019/04/05 -5 Welcome to ROUND 3 of our CFD DEMO competition. Join the trading competition to win a $100 USD prize! Open your ZERO-RISK demo account on AlteumX and compete to win real cash prizes with your Risk Warning: Forex and CFD trading carries a high level of risk and may not be suitable for all investors. There is a chance of a loss equal to or greater than your entire investment. You should never invest or risk any money that you cannot afford to lose. Fidelcrest Trading Challenge is operated by Fidelcrest Kft (LLC).

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QuickTrade CFD Competition

QuickTrade CFD Competition MM Part 2 - Duration: 2 minutes, 57 seconds. Stock Market College (Pty) Ltd ... Brandon Hayden is our Forex Trading Competition Winner taking the R 10 000 Prize money ... CFD Competition Winner - August 2018 - Duration: 11:47. Stock Market College (Pty) Ltd 1,429 views. 11:47. Day Trading CFD's for 1,286$ in 1 hour - Meir Barak - Duration: 9:26. Meir Barak ... A CFD is a contract for difference; it is a contract between you and the broker to pay the difference in the price of an asset between now and some point in the future. 76.5% of retail investors lose money when trading CFDs and spread betting with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford ...

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