What is Bitcoin Mining?

Bitcoin mining is the process through which new Bitcoins are created and transactions are verified on the blockchain. It involves solving complex mathematical puzzles that require high computational power. Miners compete to solve these puzzles, and the first to do so adds a new block to the blockchain and is rewarded with newly minted Bitcoin and transaction fees.

To mine Bitcoin effectively, you need:

• High-performance mining hardware (ASICs – Application-Specific Integrated Circuits)
• Reliable and cheap electricity
• Cooling infrastructure
• Secure and connected facilities

Related story..
Crypto in Pakistan: Between Promise, Politics, and Pragmatism

Pakistan’s Potential and Challenges in Bitcoin Mining

1. Energy Sector Overview

Pakistan’s total installed electricity generation capacity as of 2025 is approximately 45,000 MW to 50,000 MW. However, the country only produces around 29,000–32,000 MW due to infrastructural constraints and circular debt. Interestingly, during off-peak seasons or low demand hours (usually at night), certain regions have surplus power.

Breakdown by source:

• Thermal (fossil fuels): 59%
• Hydropower: 25%
• Renewable (solar, wind): 6%
• Nuclear: 10%

Despite surplus moments, Pakistan suffers from frequent load shedding and energy mismanagement, especially in rural areas. Transmission losses and outdated infrastructure are key hurdles.

2. Can We Afford the Power for Mining?

Mining 1 Bitcoin currently consumes approximately 400,000 kWh (0.4 GWh). If Pakistan aims to mine even 100 Bitcoins per year, this would require at least 40 GWh of energy.

Let’s compare this with our national energy picture:

• Pakistan generates about 90 billion kWh to 130 billion kWh annually.
• 40 GWh is a very small share of this total, representing approximately 0.031% to 0.044% of the annual generation range.

In theory, the country could dedicate this much electricity from surplus power—if it’s managed properly.

3. Current Resources vs. Requirements

4. Recent Developments in Pakistan’s Crypto Scene

• CZ Visit: Former Binance CEO Changpeng Zhao’s visit sparked high-level meetings.
• Govt. Interest: Ministry of IT & Telecommunication and State Bank are exploring blockchain solutions.
• Pakistan Crypto Council: First of its kind, signaling seriousness.

These developments indicate a growing maturity in Pakistan’s approach to the crypto economy.

Recommendations and Expert Solutions

1. Pilot Projects with Private Sector: Launch a test mining facility using renewable energy (solar/wind) in Balochistan or KP.
2. Utilize Off-Peak Surplus Power: Mine during low-demand hours; agreements with local DISCOs (distribution companies) could unlock hidden value.
3. Develop Local Manufacturing/Assembly: Partner with China or UAE firms to start assembling mining rigs locally.
4. Cooling Tech in North: Leverage cooler climates of Gilgit-Baltistan for natural cooling.
5. Regulatory Sandbox: SECP and SBP can work together to create a regulatory sandbox for crypto mining firms.
6. Education & Talent Development: Launch Web3 and blockchain mining courses in universities.
7. Export-Oriented Mining: Treat Bitcoin like an export commodity — earn foreign exchange while staying compliant.

Conclusion

Mining Bitcoin using surplus electricity in Pakistan is not just a fantasy — it is a technically feasible and potentially lucrative venture. However, it requires strategic planning, regulatory clarity, infrastructure investment, and public-private collaboration. With visionaries like Bilal Bin Saqib at the helm of the Pakistan Crypto Council, and global crypto leaders taking notice, this might just be the dawn of a new digital frontier for Pakistan.

The dream is alive — but it needs discipline, innovation, and fearless execution to make Pakistan a mining powerhouse in the digital age.

Read More…

Bitcoin vs. Crypto: A Veteran’s Guide to Avoiding Scams and Embracing the Real Innovation

Mohsin Rasheed

Co-Founder & Chief Editor of Everyman Science. I view science not just as a collection of facts, but as the ultimate guide for human survival. From medical breakthroughs to the logistics of space exploration, I am dedicated to documenting how scientific reasoning uplifts the human spirit and provides the blueprints to save our planet. I believe that by unleashing the power of nature through disciplined inquiry, we can secure a sustainable future for humanity.

The post Can Pakistan Realistically Mine Bitcoin Using Surplus Power? appeared first on Everyman Science.

The post Can Pakistan Realistically Mine Bitcoin Using Surplus Power? appeared first on Everyman Science.

Fundamental Pitfalls of Pakistan’s Crypto Ecosystem

Legal Ambiguity: The Elephant in the Room

Despite Pakistan’s increasing crypto engagement, its legal framework remains in limbo. The State Bank of Pakistan’s (SBP) 2018 circular still technically prohibits banks from processing cryptocurrency transactions, creating a de facto ban without formal legislation. There’s no dedicated Crypto Act, no role clearly assigned to the Securities and Exchange Commission of Pakistan (SECP), and no definitions for different types of digital assets—be they utility tokens, security tokens, or even central bank digital currencies (CBDCs).

This legal vacuum has opened the door to exploitation. Without enforceable consumer protections or licensed platforms, Pakistani users remain vulnerable to scams like pump-and-dump schemes and rug pulls that thrive in unregulated environments.

No On-Ramps or Local Custody

In the absence of formal gateways or licensed exchanges, most Pakistani crypto users have had to resort to alternative — and often risky — methods to participate in the digital economy. Peer-to-peer (P2P) transfers remain the most popular option, enabling users to send and receive crypto without relying on centralized platforms. Many also engage in hawala-style conversions, where local agents swap cash for crypto directly to digital wallets. Others go further underground, using VPNs to access banned platforms and even manipulating bank accounts to bypass existing restrictions. This patchwork approach reflects both the demand for crypto and the lack of regulated access, creating a shadow ecosystem outside the government’s oversight.

Absence of Taxation Framework

Pakistan currently lacks any formal mechanism for declaring crypto assets or gains. Cryptocurrencies are not recognized as assets like real estate or stocks, nor are they treated as currency or commodities. This legal blind spot allows vast amounts of undeclared capital to flow offshore, contributing to tax evasion and the rise of a parallel shadow economy.

The Federal Board of Revenue (FBR) could introduce a model inspired by India’s 1% TDS on crypto transactions and the UAE’s voluntary disclosure amnesty. This would allow Pakistanis to transparently declare holdings and support national revenue without fear of prosecution — a win-win for the state and crypto adopters alike.

Brain Drain and Informalization

A growing number of Pakistani crypto developers, blockchain engineers, and fintech entrepreneurs are relocating to crypto-friendly hubs like Dubai, Singapore, and Estonia. These jurisdictions not only offer seamless company incorporation for Web3 startups but also provide access to banking services and legal frameworks that support tokenized fundraising and innovation.

Pakistan’s knee-jerk reaction of over-regulation or outright bans is backfiring. Instead of taxing crypto into the shadows, the country should harness its talent pool to reverse brain drain, encourage startup incubation, and create homegrown fintech success stories.

Related Story:
Bitcoin vs. Crypto: A Veteran’s Guide to Avoiding Scams and Embracing the Real Innovation

What’s Missing: Structural and Strategic Gaps

A National Crypto Vision

In contrast to countries with mature crypto ecosystems like the UAE, Japan, and Singapore — all of which have dedicated crypto authorities, regulatory sandboxes, and clear token issuance laws — Pakistan lags severely behind. There isn’t even a foundational position paper from the Ministry of Finance or the State Bank of Pakistan (SBP).

This institutional silence sends a damaging signal: no clarity, no confidence. Without a transparent framework or roadmap, foreign investors steer clear, and local innovation is stifled before it starts.

Research and Technical Capability

Pakistan currently has no public institution researching core blockchain domains like Layer 1 and Layer 2 protocols, smart contract security, tokenomics, or national stablecoin design. This lack of academic and technical exploration is a major blind spot in a sector that demands deep understanding and innovation.

The Pakistan Crypto Council (PCC) should immediately establish a Blockchain Research Lab at top universities like NUST or LUMS, involving collaboration between academia, state regulators, and industry leaders. India has already launched such initiatives with IITs — Pakistan must catch up or get left behind.

Financial Inclusion via Stablecoins

In a country plagued by persistent rupee devaluation, Pakistanis increasingly turn to USDT (Tether) to protect their savings. Yet, Pakistan still lacks a rupee-backed stablecoin, leaving a crucial financial innovation unexplored. Despite global momentum, the State Bank of Pakistan (SBP) has neither piloted a CBDC nor launched any stablecoin sandbox initiative.

The Philippines’ central bank (BSP) collaborates with platforms like Coins.ph to roll out peso-backed stablecoins, usable for daily expenses like public transport. Pakistan could replicate this model to promote financial inclusion and payment innovation.

Law Enforcement and Security

As Pakistan’s crypto space grows unchecked, so do the scams. From Ponzi-style schemes like “Double Shah 2.0” to shady platforms offering 50% monthly returns, the digital financial landscape has become a breeding ground for exploitation. Some scams even masquerade as religious charities or community aid programs, exploiting public trust in the absence of state oversight.

Pakistan urgently needs a Digital Asset Fraud Unit — a joint initiative between NADRA, FIA, and SECP. This task force should specialize in forensic blockchain tracking, public complaint resolution, and scam prevention, modeled on global best practices.

What’s Working: Seeds of Progress

Pakistan’s crypto ecosystem is gradually maturing, evidenced by the recent launch of the Prime Minister’s Committee on Crypto (PCC) — a signal of growing political will to engage with digital assets. On the grassroots level, influencers like Waqar Zaka and Danyaal Ahsan are actively educating youth, while a growing number of freelancers now demand crypto payments for global gigs. Behind the scenes, major banks are quietly experimenting with blockchain R&D, though details remain under wraps. Internationally, Binance has shown interest in engaging with Pakistani authorities, and locally, young entrepreneurs are informally building NFT platforms, DAOs, and metaverse experiences. If nurtured wisely, Pakistan could be on the verge of its “Digital 2005 moment” — echoing the mobile telecom boom that followed PTA’s regulatory intervention — suggesting that structured crypto policy could unleash similar transformative growth.

Strategic Roadmap: What Should Pakistan Do Now?

To unlock the true potential of crypto in Pakistan, a structured policy roadmap is essential — one that balances innovation with oversight.

Short-Term (0–6 months)

Pakistan’s first step should be lifting the State Bank of Pakistan’s 2018 circular, officially categorizing crypto as a “controlled asset” rather than banning it by omission. Clear tax guidance should follow, allowing Pakistanis to voluntarily disclose holdings and gains without fear of prosecution. Simultaneously, national awareness campaigns — broadcast via TV, NADRA service centers, and mobile networks — can demystify crypto for the public.

Mid-Term (6–18 months)

A regulatory sandbox under SECP would enable startups to experiment under supervision, learning while minimizing consumer risk. Local crypto exchanges should be licensed with mandatory KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols. Meanwhile, incentives such as tax holidays or capital gains exemptions for three years can nurture local blockchain innovation and stop the exodus of talent to Dubai and Singapore.

Long-Term (18–36 months)

On the institutional side, blockchain can be integrated into land records, procurement systems, and NADRA databases to enhance transparency and reduce corruption. The central bank should spearhead a rupee-backed stablecoin for digital remittances and micro-payments. Finally, piloting a central bank digital currency (CBDC) will align Pakistan with global monetary modernization trends and reduce dependency on cash.

The Ticking Clock of Crypto Reform

Pakistan isn’t just late to the global crypto revolution — it’s hesitating at the threshold, holding the keys yet unsure which door to unlock. In a world racing toward decentralization, crypto isn’t a luxury for Pakistan; it’s a strategic necessity. It holds the potential to empower freelancers, ensure financial independence, and bring Pakistan onto the global fintech map. The cost of inaction is steep: lost capital, brain drain, and diminished credibility. Yet, with timely, bold reforms, Pakistan has a real opportunity to become South Asia’s Web3 powerhouse — a regional hub like Dubai. The choice is stark: will we regulate innovation now, or chase it after it’s already left?

Source(s):

SBP’s Public Notice REGARDING VIRTUAL CURRENCIES

Pakistan Crypto Council officially launched to integrate blockchain technology with financial landscape

Mohsin Rasheed

Co-Founder & Chief Editor of Everyman Science. I view science not just as a collection of facts, but as the ultimate guide for human survival. From medical breakthroughs to the logistics of space exploration, I am dedicated to documenting how scientific reasoning uplifts the human spirit and provides the blueprints to save our planet. I believe that by unleashing the power of nature through disciplined inquiry, we can secure a sustainable future for humanity.

The post Crypto in Pakistan: Between Promise, Politics, and Pragmatism appeared first on Everyman Science.

The post Crypto in Pakistan: Between Promise, Politics, and Pragmatism appeared first on Everyman Science.

Update March 2025: Economic Pressures and Central Bank Strategies in Russia

As of March 2025, Russia’s economic landscape remains severely stressed under the dual pressures of low oil prices and high central bank interest rates. Brent crude oil prices are currently just below $70 per barrel, a significant factor since much of Russia’s budgetary planning relies on higher oil revenues (Crude Oil Prices – 70 Year Historical Chart | MacroTrends). This reduction in oil prices, if sustained, risks exacerbating the fiscal deficit, increasing the necessity for stringent economic measures.

Compounding these financial challenges is the Central Bank of Russia’s decision to maintain its key interest rate at a record high of 21%. This rate has been set to combat inflation, which has soared past 10%, driven by high military spending and labor shortages (Russian Central Bank Holds Key Rate Steady Amid Soaring Inflation – The Moscow Times). The central bank’s tight monetary stance is aimed at curbing inflation but also presents a substantial burden on economic growth, affecting both corporate and consumer financing.

In response to the ongoing economic strife, everymansci.com conducted a poll about the potential collapse of Russia’s economy in 2025. The responses were divided, indicating significant uncertainty and concern among observers:

• Yes: 30% believe an economic collapse is imminent,
• No: 30% do not foresee a collapse,
• Unsure: 21% remain uncertain,
• Likely: 19% feel a collapse seems probable.

The persistence of high interest rates alongside low oil prices could lead to deeper economic challenges, requiring careful monitoring of Russia’s fiscal and monetary policies as the year progresses.

The Budget Breakdown: Running on Empty?

Russia’s 2024 budget projections already painted a precarious picture: a total planned expenditure of 36.6 trillion rubles ($349 billion) against revenue of 35 trillion rubles, leaving a budget deficit of around 1.6 trillion rubles. To finance this, the government has been burning through its National Wealth Fund (NWF), which dropped from $210 billion in early 2022 to just $130 billion at the start of 2024. If Russia continues spending at the same pace in 2025, the NWF will be fully depleted by the end of that year.

For a country still waging an expensive and resource-draining war, this depletion is a catastrophic scenario. Once the NWF runs dry, Russia will have no financial cushion to cover its expanding deficit, leaving only a few unpalatable options: cut war spending, take on exorbitantly expensive debt, or resort to printing money—each with severe consequences.

A Grim Choice: Debt, Devaluation, or Austerity?

If Moscow opts to borrow its way out of trouble, it faces a debt market riddled with landmines. Domestic borrowing is extremely costly due to the Central Bank’s 19% interest rate, which will only climb higher as inflation rises. International borrowing is largely off the table due to sanctions, and any loans from non-Western partners like China would come with high political and economic strings attached.

If the Kremlin turns to monetizing debt—essentially printing rubles to finance deficits—it will plunge the economy into a hyperinflationary spiral. The ruble, already under strain, would nosedive, making the cost of imports skyrocket. This would further aggravate inflation, drive up consumer prices, and make everyday life even more unbearable for ordinary Russians. The last time Russia faced such a scenario, during the 1998 financial crisis, it led to a sovereign default and mass economic turmoil. The Kremlin knows it is playing with fire.

Spiraling Inflation and a Collapsing Ruble: A Recipe for Rebellion?

The economic pain would not be confined to spreadsheets and balance sheets. Inflation is already running high, with food prices in particular skyrocketing, putting pressure on a population already bearing the weight of international isolation and a stifled economy. If the ruble tanks further, inflation could spiral into double digits, pushing millions of Russians below the poverty line. For a government that has staked its legitimacy on restoring Russia’s global standing and maintaining internal stability, this could be a tipping point.

Remember, in Russia, it’s often the rural and poorer regions that have disproportionately supplied the soldiers for the Ukrainian frontlines. If these communities begin to feel that they’re not only sacrificing lives but also their economic future, the political blowback could be fierce. Historically, financial crises have proven more dangerous for the Kremlin than foreign policy failures. The collapse of the Soviet Union in 1991 was preceded by years of economic stagnation and inflation—factors that look ominously familiar today.

The War Economy Trap: Perpetuating Crisis

The Russian government is walking a tightrope: cutting war spending risks losing ground in Ukraine, while maintaining current levels of expenditure risks pushing the economy to a breaking point. This is the classic “guns versus butter” dilemma, but with a uniquely Russian twist. Recent reports show that up to 30% of the federal budget is now dedicated to defense, a staggering figure reminiscent of the USSR’s late-stage economic cannibalism. Even if Russia tries to balance this by slashing social or infrastructure spending, the political fallout would be enormous.

The military-industrial complex in Russia is not built for efficiency; it is a leaky, corrupt system plagued by inefficiencies and cost overruns. Rostec, the state-owned defense conglomerate, has reported falling profits and growing losses despite record defense spending. The current strategy is akin to pouring water into a leaking bucket—most of the cash simply seeps away.

The Risk of State Bankruptcy: A Matter of When, Not If?

The question on everyone’s mind: Is Russia heading for a state bankruptcy? While it may not be a straightforward sovereign default—Russia still has significant hard currency reserves—the state’s financial stability is crumbling. Moscow’s own economists have warned that budgetary planning is based on overly optimistic revenue projections, assuming oil prices will average $71 per barrel in 2024. If oil prices drop even slightly, Russia’s revenue shortfall would increase by over 1.6 trillion rubles per $10 decline.

With no National Wealth Fund to fall back on, the Kremlin would be forced to choose between debt, devaluation, and severe austerity. Each of these options carries enormous risks, not just economically but socially and politically. If Moscow is forced into austerity, cutting pensions or wages in the already restive regions of Siberia or the North Caucasus, we could see the first sparks of rebellion against the regime.

Austria’s Colonel Oberst Reisner: Understanding Russia’s Strategic Miscalculations

For those looking to dive deeper into Russia’s military and strategic miscalculations, check out our in-depth article on Colonel Oberst Markus Reisner, who regularly provides incisive analysis on ORF and ZDF, explaining how Russia’s overreach could backfire spectacularly.

The Real Threat: Losing the War at Home

Russia’s leadership is preparing for a long war, but their real battle might be on the home front. If 2025 sees the ruble collapse, inflation surge, and living standards plunge, the regime could find itself fighting a two-front war: one in Ukraine and one within its own borders. A weakened ruble, depleting reserves, and a war-weary populace are a toxic mix that could catalyze a financial crisis—and, potentially, a political one.

Ukraine, backed by Western financial and military aid, doesn’t face the same constraints. While Russian resources dwindle, Kyiv is ramping up its war efforts with new weapons and technology, such as the Palianytsia Drone-Missile, designed to penetrate Russian defenses. The war is not just being fought on the battlefield; it’s being waged in the coffers of both nations. And right now, Russia’s coffers are running frighteningly low.

The bottom line? Russia is staring down the barrel of a financial implosion in 2025. The only question is: How long can the Kremlin juggle its dwindling reserves and rising debts before the entire facade comes crashing down?

Sources:

1. Russia’s 2024 Budget Shows It’s Planning for a Long War in Ukraine – Carnegie Endowment for International Peace
2. Militarizing the economy: Russia’s next budget allocates over a third of spending to defense – Meduza
3. Russia-Ukraine war: what to watch in 2024 – ODI
4. Is the Kremlin Overconfident About Russia’s Economic Stability? – Carnegie Endowment for International Peace
5. https://carnegieendowment.org/podcasts/carnegie-politika-podcast/russia-war-economy?lang=en
6. https://en.wikipedia.org/wiki/Economy_of_Russia
7. https://novayagazeta.eu/articles/2024/10/05/selling-russia-short-en Novaya Gazeta Europe – Selling Russia Short
   

Jasper Reichardt

The post Is Russia Headed for Economic Ruin in 2025? Analyzing the Financial Fallout of Prolonged Warfare appeared first on Everyman Science.

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Nikolaus Jilch, an Austrian Bitcoin advocate and economic journalist, put it simply in a viral tweet:

“#Bitcoin is not crypto. Proof of stake is a scam. Web3 is just a marketing buzzword. Your NFT is going to zero. Your stablecoin is unstable. Your yield farm is a Ponzi scheme. Your favorite altcoin is a centralized mess of a scammy cashgrab. It’s #Bitcoin, not Blockchain nor Crypto.”
— Niko Jilch

Jilch’s words hit on a crucial truth: Bitcoin isn’t just another “crypto,” and most of what falls under that umbrella is riddled with gimmicks, risky schemes, and empty promises. Here’s a breakdown of why Bitcoin is fundamentally different—and why you should be cautious of everything else.

Bitcoin: The Only Real Decentralized Innovation

Bitcoin stands alone as a decentralized, censorship-resistant, and fundamentally sound monetary network. It wasn’t created by a marketing team and has no CEO or centralized control. Bitcoin is open-source and relies on proof of work—a consensus method that requires miners to expend energy, making it a secure and trust-minimized network.

By contrast, many so-called “cryptos” rely on proof of stake, which gives control to those with the largest holdings. This centralization is what allows manipulation, governance changes, and, often, outright scams disguised as innovation.

The Risks of Memecoins and Altcoins: More Hype Than Substance

Many newcomers believe they can “strike it rich” by betting on memecoins and altcoins. Who wouldn’t be drawn to the possibility of a +100% gain in a week? But these coins are usually built on nothing more than marketing gimmicks and short-lived hype. Dogecoin, Shiba Inu, Pepe, and countless others are largely speculative assets, offering no real value. There are even projects like Pump.fun that churn out new memecoins constantly, profiting from the buzz without any intention of building sustainable value.

Altcoins and memecoins are almost entirely dependent on Bitcoin’s price movements. When Bitcoin rises, these coins often rise too—but with added volatility and risk. And when Bitcoin falls? They crash even harder, leaving most investors with empty wallets and a painful lesson.

The Fate of Your Bitcoins After Your Passing

Don’t Chase Quick Gains in “Crypto”

It’s a common trap for new investors: assuming that a 100% return with a memecoin is somehow “better” than a more modest 50% gain in Bitcoin. But here’s the truth: these altcoins rely entirely on Bitcoin’s performance. Without Bitcoin’s growth, they’d likely have no value at all. Bitcoin veterans know this well and caution against chasing after coins that will almost certainly decline in value over time.

Why Leveraging Bitcoin is Safer Than Betting on Memecoins

If you’re set on maximizing gains, leveraging Bitcoin itself can be a safer option than diving into the murky waters of altcoins. For example, by using platforms like AAVE.com, you can deposit wrapped Bitcoin (wBTC), borrow against it in USDT, and reinvest to create a leveraged Bitcoin position. This means you gain exposure to Bitcoin’s gains without the extreme risk of altcoins.

Consider this: if Bitcoin rises 10%, a 2x leverage on Bitcoin will yield a 20% gain, while memecoins may gain slightly more, but with much greater risk. And if Bitcoin drops 10%, your leverage will bring a 20% loss, which is still far less painful than the typical 25%+ crash memecoins would experience.

HODLing Bitcoin: The Proven Path to Profits

While the allure of quick profits may tempt you to trade, veteran Bitcoin Hodlers know the value of patience. Over the years, a simple recurring investment strategy—buying Bitcoin consistently—has outperformed almost any other approach in the crypto space. Bitcoin has a proven track record, and despite four cycles of explosive growth and correction, it has emerged stronger each time.

In fact, if you look at a chart of Bitcoin’s long-term performance, the trend is clear: Bitcoin rewards those who hold through the ups and downs. This is why HODLing Bitcoin is a favored strategy among veterans, while “crypto” projects come and go.

Learn from the Veterans

As a newcomer to the world of Bitcoin, it’s easy to get swept up in the excitement of new projects and the possibility of quick gains. But remember, Bitcoin veterans have seen this cycle repeat itself many times, with new altcoins rising and falling in a never-ending loop. Their advice? Stick with Bitcoin. Avoid the “crypto” hype, and if you’re interested in leveraging, do so with a careful, risk-managed approach.

Bitcoin has been, and remains, the only serious innovation in the world of digital assets. Everything else? It’s mostly noise. HODL wisely, stay informed, and you’ll likely fare better than those who chase after the next flashy coin.

Quiz: What do you know about Bitcoin?

Read more on the Topic: Bitcoin

Jasper Reichardt

The post Bitcoin vs. Crypto: A Veteran’s Guide to Avoiding Scams and Embracing the Real Innovation appeared first on Everyman Science.

The post Bitcoin vs. Crypto: A Veteran’s Guide to Avoiding Scams and Embracing the Real Innovation appeared first on Everyman Science.

As of today, the Polymarket chart suggests that Trump holds a 62.3% chance of winning, while Harris stands at 37.7%. The betting volume is reflective of the intense interest this election has garnered. Trump’s odds have led to a staggering $695,127,699 in betting volume, while Harris follows closely with $445,421,205.

A Breakdown of the Betting Odds

Polymarket allows users to bet on the outcome of various real-world events, including political elections, by purchasing shares that correspond to either “Yes” or “No” outcomes. For Trump, users are offered the opportunity to buy “Yes” shares at 62.6¢, while the option to bet against him with a “No” share sits at 37.5¢. Similarly, for Harris, the “Yes” bet is available for 37.5¢, and her “No” share costs 62.6¢.

Rising Trend for Trump

What stands out from the platform’s historical trends is Trump’s steady rise since mid-year. The chart indicates that Trump began to pull ahead during the late summer months, with an increasingly sharp upward trajectory in his favor. Harris, on the other hand, saw a brief moment of near-parity earlier in the year, but since September, her odds have consistently fallen, solidifying Trump’s dominant position in these prediction markets.

The Significance of Prediction Markets

Prediction markets like Polymarket have gained credibility for offering insights that traditional polling often misses. While polls may be susceptible to biases in sampling or misinterpretation of voter sentiment, betting markets are driven by real money stakes, making them a unique and valuable gauge of public confidence in the outcome of elections.

Polymarket’s platform also illustrates how decentralized finance and blockchain technologies are influencing how people engage with political events. By turning political outcomes into tradeable assets, these markets present a distinct perspective on the 2024 U.S. election.

Insights from 538’s 2024 Election Simulations

According to data from FiveThirtyEight (538), another popular platform that utilizes polling, economic, and demographic data to forecast election outcomes, the race between Donald Trump and Kamala Harris for the 2024 U.S. presidential election is a virtual toss-up.

In 538’s simulations, both Trump and Harris win 50 out of every 100 scenarios, reflecting an evenly split win probability for each candidate. This statistical deadlock highlights the high level of uncertainty surrounding the outcome. The chance of neither candidate securing an Electoral College majority is extremely low, at less than 1 in 100.

In terms of the popular vote, Harris is projected to secure 51.2%, narrowly leading Trump, who is expected to receive 48.9%. Despite this popular vote edge, the balance of probabilities for winning the presidency remains equal between the two candidates.

Looking Forward

As Election Day looms, it will be interesting to observe how betting sentiments fluctuate. The current forecast suggests a strong lead for Donald Trump, but with nearly few days left before the final vote, political developments could alter the current standings.

What Would a Trump Victory Mean for the World?

A potential Trump victory would not only reshape the political landscape in the U.S., but it could also have significant repercussions globally.

A second Trump term could trigger a major shift in Europe’s defense policies, likely forcing the continent to ramp up military spending in response to reduced U.S. commitments to NATO. As one source speculated, “Bye-bye social welfare, hello tanks, Eurofighters, and Storm Shadow missiles.” If Trump wins, it could mean the end of certain social safety nets in favor of military expansion—an existential decision for Europe as it faces the prospect of fending for itself in an increasingly volatile geopolitical environment.

Related: Is Russia Headed for Economic Ruin in 2025? Analyzing the Financial Fallout of Prolonged Warfare

Further, Russian President Vladimir Putin could be poised to capitalize on Trump’s return to office. It’s believed that Putin anticipates a weakened Europe in a scenario where the U.S. withdraws from its leadership role. “He knows very well this will force Europe into a very bad position,” the source added. A fragmented Europe, left without strong U.S. support, may struggle to maintain its unity against Russian imperialism, potentially resulting in the division of Ukraine and renewed expansion of Russian influence across Eastern Europe and beyond.

Dark Times for Global Democracy

The potential implications extend far beyond Europe. Without the stabilizing influence of a united, democratic Europe, the global balance of power could shift dramatically. “Without Europe, there is no global democratic power,” one observer noted, adding that authoritarian regimes in Russia, China, and the Middle East would be quick to seize the opportunity to expand their influence, particularly in Africa.

In Africa, where some of the world’s largest untapped resources and potential for environmental preservation exist, the absence of democratic oversight could lead to further exploitation by non-democratic forces. The involvement of mercenary groups like Russia’s Wagner Group threatens not just the continent’s political stability, but its potential for progress, peace, and environmental preservation.

The consequences of a Trump victory may not be limited to just the U.S. and Europe, but could ripple across the globe, particularly in regions already vulnerable to authoritarian influence.

In an increasingly polarized world, the outcome of the 2024 U.S. Presidential Election could have profound and lasting impacts on the future of democracy, global stability, and the international order.

Read more: Germany’s Recession: Consumers Reduce Spending in Europe’s Largest Economy

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The Challenge with Bitcoin Inheritance

Bitcoins exist only in virtual form and are encrypted for security purposes. Each bitcoin owner possesses a private password or key that grants access to the bitcoins stored in their digital wallet. Unfortunately, in the event of your demise, retrieving this private key becomes an obstacle. Since there isn’t a centralized authority that tracks these private keys, there is no method for potential heirs to access the bitcoins. If you haven’t designated anyone to inherit your private key, your bitcoins effectively become inaccessible.

A similar dilemma arises when you leave your private key behind without clear instructions on how to use it. In this case, your bitcoins are likely to stay lost, which is akin to having a key to a safety deposit box without any indication of its location. Unlike a bank that eventually clears out an abandoned safety deposit box, no entity would clear out lost bitcoins due to their limited supply, which actually increases their value through scarcity.

Options for Passing on Your Bitcoins

To ensure that your bitcoins are properly passed on to your heirs, there are a few options to consider. The simplest approach is to make sure your heirs are aware of your bitcoin account and either trust them with the private key now or store the private key in a secure location such as a safety deposit box. The private key can be stored on a flash drive or even written down on paper.

However, for those concerned about security, an alternative method is available. You can set up a “time-locked” transition using bitcoin itself. This means that a specific amount of time must pass before the bitcoins can be accessed by the heirs. As long as your heirs have the corresponding receiver address, they will receive the funds on the predetermined future date. It is worth noting, though, that this method carries the risk of the transaction occurring whether or not you are alive by the scheduled transaction date.

Another option is utilizing third-party services like Coinbase, which offers a more traditional solution in the form of a “vault.” This vault acts as a physical safety deposit box for your private key. Coinbase also provides joint accounts, allowing for a smooth transition and rapid access to the inherited bitcoins by your heirs.

Recommended: Unveiling the Mystery Behind Bitcoin Mining in Bhutan

The Importance of Clear Estate Planning

No matter which method you choose, it is crucial to establish clear estate plans. This can range from a simple will to the establishment of a trust. By clearly expressing your wishes in regards to your digital assets, you can avoid legal processes such as probate, which can be particularly challenging when it comes to cryptocurrency. Without proper planning, a knowledgeable and unscrupulous family member or friend could make off with the private key, leaving others unaware of the existence of the bitcoins or that they have fallen victim to theft.

Since laws regarding the inheritance of digital assets can be vague and vary by state, it is advisable to consult an attorney to assist in crafting your estate plans. Additionally, individual websites may have their own terms and conditions that apply. Seeking professional advice will help ensure that your digital assets are protected according to your wishes.

Bitcoins may serve as an extreme example, but it is crucial to provide instructions and access to your entire digital life to your heirs. When you pass away, compile a secure package that includes passwords, locations, and paths to all your digital assets. These can include online bank accounts, payment platforms like PayPal or Venmo, social media sites, and any other aspects of your digital life. By being considerate and proactive, you make the transition easier for those you leave behind and help preserve your digital legacy.

Mohsin Rasheed

Co-Founder & Chief Editor of Everyman Science. I view science not just as a collection of facts, but as the ultimate guide for human survival. From medical breakthroughs to the logistics of space exploration, I am dedicated to documenting how scientific reasoning uplifts the human spirit and provides the blueprints to save our planet. I believe that by unleashing the power of nature through disciplined inquiry, we can secure a sustainable future for humanity.

The post The Fate of Your Bitcoins After Your Passing appeared first on Everyman Science.

The post The Fate of Your Bitcoins After Your Passing appeared first on Everyman Science.

The stock prices of other US-listed companies, such as semiconductor manufacturer Advanced Micro Devices and AI firm C3.ai, also increased as investors seek to capitalize on the booming AI sector. However, Matt Wacher, the chief investment officer at Morningstar Asia Pacific, cautions that while there can be significant rewards for investing in tech stocks, there are also substantial risks involved.

Nvidia co-founder and CEO Jensen Huang. Image: Bloomberg

Global AI Market to Hit $207B by 2022

A new report by Grand View Research estimates that the global AI market is expected to reach an impressive $US136.55 billion ($207 billion) in 2022, and is projected to grow at an average compound annual growth rate of 37.3 per cent from 2023 to 2030. This remarkable growth is attributed to the continuous research and innovation efforts of tech giants, which are driving the adoption of advanced technologies across various industry verticals such as automotive, healthcare, retail, finance and manufacturing. AI technology has the potential to revolutionize these industries by providing more efficient and cost-effective solutions for businesses. As such, it is likely that AI will continue to be a major driver of economic growth in the coming years.

Alphabet’s Chatbot Failure

Though the potential of Artificial Intelligence (AI) may seem like a surefire investment for some, it is important to remember that tech has seen some major downturns in the past. The most notable example of this was during the “tech wreck” of early 2000, when many companies saw their share prices plummet drastically. This was demonstrated again last year when Alphabet [owner of Google] saw $US100 billion wiped from its value after its chatbot failed to meet expectations during its first demonstration. This serves as a reminder that even the most promising technologies can experience significant setbacks, and investors should be aware of the risks associated with investing in AI.

Invest Beyond AI

For those looking to invest in Artificial Intelligence (AI), Cameron Gleeson, senior investment strategist at exchange-traded funds provider Betashares, recommends diversifying your portfolio by investing in a well-constructed basket of stocks. This will help reduce the risk of concentrated bets on specific AI names. There are several Exchange Traded Funds (ETFs) listed on the Australian Securities Exchange that track an index of technology stocks, which can provide investors with a way to spread their investment risk. Morningstar’s Wacher also suggests that investors should only allocate a small portion of their portfolio to higher-risk sectors such as AI. By doing so, investors can benefit from the potential upside of investing in AI while mitigating the risks associated with it.

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Bitcoin experienced a 13% surge, its largest one-day increase in almost a month, following moves by US authorities to reassure investors about the health of the country’s financial system. This helped to extend the cryptocurrency’s recovery from its worst week in about four months. In addition, Binance’s announcement that it would convert stablecoin funds from a $1bn industry stability fund to Bitcoin, Ether and its BNB token helped to boost confidence in the cryptocurrency market. Other crypto firms including Coinbase and MicroStrategy also saw their shares rise in response to Bitcoin’s surge.

Stablecoins and Bank Closures

Stablecoins are cryptocurrencies that aim to keep a one-to-one value with a less volatile asset like the US dollar. The collapse of Silicon Valley Bank (SVB) triggered a knock-on effect in crypto’s stablecoin market, with Circle, the operator of USDC, revealing it had $3.3bn of reserves backing the token stored with SVB. This caused USDC to slip far below its dollar peg, and sent shockwaves through the broader sector. However, by Monday morning, USDC had recovered to trade at par again. The token’s depeg triggered a huge surge in volumes on decentralized exchanges on Saturday, thanks to its outsized prominence as a trading pair on such exchanges.

Tether has been the stablecoin that has benefited the most from the ructions in crypto markets, accounting for $72.3bn of the $135bn stablecoin universe, as investors yanked $3bn from rival USDC since Friday. Investors are hesitant to pick Stablecoins they can trust, in order to balance their Cryptocurrency Trading Risks.

Silvergate Capital and Signature Bank are in Trouble

Signature Bank, one of the most prominent US crypto-friendly banks left after Silvergate Capital shut down earlier this month, was closed by New York state financial regulators on Sunday with access to funds for depositors. The spate of bank closures had unnerved crypto markets, with several major crypto companies exposed.

This is following FTX which was a popular cryptocurrency exchange that experienced a major market sell-off in November due to the collapse of trading positions. This resulted in the exchange’s insurance fund being depleted, putting the platform into insolvency. The event caused widespread panic across the crypto market, with Bitcoin and other cryptocurrencies experiencing significant price declines.

Following the incident, FTX was able to recover the funds and restore the insurance fund to its previous level. However, the event has raised concerns about the stability of the crypto market and the risks involved in trading cryptocurrencies.

In the aftermath of the FTX incident, many investors are still cautious about the crypto market. However, Bitcoin’s recent surge and the moves by US authorities to reassure investors about the stability of the financial system have helped to restore confidence in the market.

Overall, the crypto market remains volatile, and investors should exercise caution whit Cryptocurrency Tradings Risks. However, with the increasing adoption of cryptocurrencies by institutional investors and the growing acceptance of blockchain technology, the long-term outlook for the market remains positive.

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The post Bitcoin surges 13% in a Single Day as FED puts temporary Halt to Interest Rate Rise appeared first on Everyman Science.

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