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Daily Archives: January 15, 2021
Gaucher Disease Treatment Market: Shows Increasing Demand To Be Observed In The Coming Decade | Genzyme Corporation, Pfizer, Inc., Shire Human…
Posted: January 15, 2021 at 2:09 pm
The Gaucher Disease Treatment Market Research Report is a resource, which provides current as well as upcoming technical and financial details of the industry to 2027. This report gives you so important and essentials data of Market size, share, trends, Growth, applications, forecast and cost analysis. Delivery development in North America, China, Europe, and South East Asia, Japan as well as in the Globe. The report proves to be indispensable when it comes to market definition, classifications, applications and engagements. The market report also computes the market size and revenue generated from the sales. The industry analysis report presents the key statistics on the market status of global and regional manufacturers and also acts as a valuable source of leadership and direction. What is more, theGaucher Disease Treatment market report analyses and provides historic data along with the current performance of the market
Gaucher disease is an autosomal recessive inherited metabolism disorder where a type of fat (lipid) called glucocerebroside is unable to degrade. Body synthesis enzyme called glucocerebrosidase, which breakdowns and reprocesses glucocerebroside. Gaucher disease is caused by mutations of a single gene called GBA, which leads to very low levels of glucocerebrosidase enzyme leading to low degradation of glucocerebroside. There are three types of Gaucher disease namely: type 1, type 2, and type 3. Type 1 is the most common type of Gaucher disease while Type 2 and 3 are not as common as type 1.
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Global Gaucher Disease Treatment Market competition by Top Key Players: Genzyme Corporation, Pfizer, Inc., Shire Human Genetics Therapies, Inc., and Actelion Pharmaceuticals Ltd. (acquired by Johnson & Johnson in June 2017). There are various drugs in pipeline of companies such as Lixte Biotechnology Holdings Inc, JCR Pharmaceuticals Co Ltd, Pharming Group NV and Orphazyme ApS, for Gaucher disease treatment.
Gaucher Disease Treatment Market section by Region:
The Middle East and Africa North AmericaSouth AmericaEuropeAsia-Pacific
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Assessment of the COVID-19 impact on the growth of the Gaucher Disease Treatment MarketSuccessful market entry strategies formulated by emerging market playersPricing and marketing strategies adopted by established market playersCountry-wise assessment of the Gaucher Disease Treatment Market in key regionsYear-on-Year growth of each market segment over the forecast period 2026
TheGaucher Disease TreatmentMarket report considers the following years to predict market growth:
The GlobalGaucher Disease TreatmentMarket is displayed in 13 Chapters:
Chapter 1: Market Overview, Drivers, Restraints and OpportunitiesChapter 2: Market Competition by ManufacturersChapter 3: Production by RegionsChapter 4: Consumption by RegionsChapter 5: Production, By Types, Revenue and Market share by TypesChapter 6: Consumption, By Applications, Market share (%) and Growth Rate by ApplicationsChapter 7: Complete profiling and analysis of ManufacturersChapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expensesChapter 9: Industrial Chain, Sourcing Strategy and Downstream BuyersChapter 10: Marketing Strategy Analysis, Distributors/TradersChapter 11: Market Effect Factors AnalysisChapter 12: Market ForecastChapter 13:Gaucher Disease Treatment Research Findings and Conclusion, Appendix, methodology and data source
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The Role of RNA Structure in Replication of Influenza and Coronaviruses – Imperial College London
Posted: at 2:09 pm
Please join us for the latest instalment of the Wright-Fleming Institute Infection and Immunity Seminar Series.
Dr David Bauer (Francis Crick Institute) will deliver a talk on The Role of RNA Structure in Replication of Influenza and Coronaviruses.
The seminar will be hosted via Microsoft Teams. All are welcome to attend.
David is a new group leader at the Francis Crick Institute, where he heads the RNA Virus Replication Laboratory. His work focuses on how virus RNA structure affects replication, transcription, and immune activation. Originally from New York, David carried out his doctoral work at the Wellcome Trust Centre for Human Genetics and received an NSF postdoctoral fellowship to study RNA polymerases and transcription using single-molecule methods with Achilles Kapanidis at Oxford. David then joined Ervin Fodors group at the Dunn School of Pathology in Oxford to study influenza virus transcription, combining his interests in genomics and RNA.
Join the meeting via Microsoft Teams
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The Role of RNA Structure in Replication of Influenza and Coronaviruses - Imperial College London
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An Expert Explains the US Capitol Hill riot: anatomy of an insurrection – The Indian Express
Posted: at 2:09 pm
Almost every clich of political theory has been used to describe the events of January 6 carnage, coup, even riot. But while Donald Trump may have incited the mob, the events at the United States Capitol were the unfortunate but logical conclusion of the way in which a dominant section of the Republican Party has articulated its political strategy over the last decade or more.
The swearing-in of Joe Biden as President on January 20 may, therefore, formally end the tenure of Donald Trump, but unless and until the Republican Party transforms itself, January 6 will be one more marker on the route of destructive politics that is dividing the US more strikingly than at any time since the American civil war.
In many ways, the events of January 6 could have been foretold when Trump and the core of his support base refused to accept that he had lost the presidential election. It was clear that Trump would not, to paraphrase Dylan Thomas, go gentle into the good night.
For most of his term, almost everyone who has observed Trump closely including many who have worked with him have been convinced that the incumbent in the Oval office is not entirely stable.
Almost a year ago, nearly 350 psychiatrists and other mental professionals petitioned to Congress that the Presidents mental health was rapidly deteriorating. At least two well-known psychiatrists from Yale and George Washington University stated that Trump appeared to be showing signs of delusion by doubling down on falsehoods and conspiracy theories. They concluded there was real potential that Trump could be ever more dangerous, a threat to the safety of our nation.
These delusions have only aggravated since the election, which Trump was convinced was stolen from him by fraud committed by the Democratic Party in collusion with local officials.
The dangerous politics of the Republican Party
However, the deeper cause that goes beyond the delusions of Trump lies within the Republican Party itself. While its core support is derived from an elite who are attracted to it on the basis of free market fundamentalism and what the writer-thinker Ayn Rand described as the virtue of selfishness (Rands The Fountainhead and its story of the architect Howard Roark is Trumps favourite novel), it needs a wider base to become electable.
In his review of Jacob S Hacker and Paul Piersons Let Them Eat Tweets: How the Right Rules in an Age of Extreme Inequality, Franklin Foer wrote in The New York Times: From their 19th-century inception, political parties of the right have faced an electoral disadvantage since, for the most part, they emerged as vessels for the wealthy, a definitionally small coterie. Their growth seemed further constrained by the fact that they could never match their opponents enticing promises of government largesse because their wealthy backers steadfastly refused to pay higher taxes
In order to become electable, the Republican Party has had to widen its constituency by adding toxic emotional content to its political ideology that has helped it to win the support of sections of the white working class.
It has done so by appealing to faith, patriotism, racial prejudice, and the so-called core American values and by exploiting the sense of victimhood of the white working class. While pre-Trump, much of the messaging was limited to dog whistling, the President was brazen in representing the Democratic Party as being against God and American values and freedoms (including the right to bear arms), and responsible for disenfranchising white voters by weakening voting laws and following pro immigration policies. Even the obvious need to wear masks during the Covid-19 pandemic was projected as an attempt by Democrats to undermine the fundamental rights of American citizens.
In the period after the election, Trump was publicly elusive, but was using the subterranean web and social media to mobilise his supporters to gather at the Capitol on the day Congress was to certify Joe Bidens election victory. His message was simple and direct: We will never give up, we will never concede You dont concede when theres theft involved. The former Mayor of New York and Trumps personal lawyer Rudy Giuliani added: Lets have trial by combat.
What followed at the US Capitol was a reflection of the delusional personality of Trump and the dangerous politics of the Republican Party, particularly aggrieved by losing both Senate seats from Georgia which was to a large extent due to an unprecedented mobilisation of black voters by Stacey Abrams, who almost single-handedly built a coalition of grassroots support for the Democratic Party in the state.
Capitol consequences, case for 25th Amendment
The short-term consequences of the events of January 6 are obvious. There is widespread outrage within most sections of public opinion, akin to a political catharsis. Internationally, US democracy is no longer the shining city on the hill.
But whether the outrage will be a moment of awakening, or epiphany as the Speaker of the House of Representatives Nancy Pelosi put it, remains to be seen. Much will depend on whether the Republican Party realises the limits of destructive Trumpism; there is some evidence in the distancing of key figures of the party from Trump and his follies.
As of now, for many, every one of the next 13 days that Trump has remaining in the Oval Office is a day too many; this is true for Americans as well as for the world. Trump is still in charge of the worlds largest nuclear arsenal, weapons that could destroy the planet as we know it several times over.
Therefore, there are serious moves to invoke the 25th Amendment. The Amendment, ratified in February 1967, deals with presidential disability and succession. While Section 3 of the 25th Amendment allows a President to declare his own inability (and has been invoked in the past during the Reagan and Bush eras), Section 4, which allows the Vice President and Cabinet to declare the Presidents inability, has never been invoked before. This is the critical section at issue today.
Under Section 4, if Vice President Mike Pence and the majority of the Trump Cabinet or another body approved by Congress give a written declaration to the President pro tempore of the Senate, Chuck Grassley, and the Speaker of the House of Representatives, Nancy Pelosi, stating that the President is unable to discharge the powers and duties of his office, Vice President Pence would assume power as the Acting President.
Thereafter, President Trump would have the right to challenge the decision through a written declaration stating that no inability exists. The Vice President and the majority of the Cabinet (or another body approved by Congress) would then have another four days to provide a second written declaration of the Presidents inability.
Within 21 days of this declaration, Congress would need to confirm the Presidents inability through a two-thirds vote of both Houses. However, this step would be unnecessary in Trumps case, because his term ends on January 20.
The American constitutional law scholar, Joel K Goldstein, has argued that while the 25th Amendment does not provide a definition of inability, legislative authorities indicate that Sections 3 and 4 of the Amendment refer to a wide range of physical and mental inabilities, which could be produced by attack, injury, illnessor could result from a degenerative process.
This definition could clearly encompass a range of possible psychological assessments of Trump. Moreover, as Goldstein points out, Section 4 applies both when a Presidential candidate refuses to recognise an inability, as well as when he is unable to do so. Thus, Trumps refusal to accept an assessment of his inability is irrelevant to an invocation of Section 4.
Going forward, India and post-Trump United States
Will the Trump Administrations perceived proximity to India cast a shadow on bilateral relations during the Biden-Harris era?
India-US relations have bipartisan support and a majority within the US Congress recognise the importance of India, given particularly the rise of a belligerent China. Nonetheless, it is critical for New Delhi to dispel the impression that it had a special relationship with the Trump Administration or that it would have been more comfortable with the re-election of a Republican President.
This demands also subtly tempering sections of the India diaspora who were enthusiastic Trump supporters, and reaching out to Democrats beyond key figures within the Biden-Harris administration. A willingness to engage with critics within the Democratic Party, and to be more open on sensitive issues could help to quickly ensure that the transition from Trump to Biden could be seamless at least for bilateral relations.
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An Expert Explains the US Capitol Hill riot: anatomy of an insurrection - The Indian Express
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PERRY: Mayor Coffman’s mock-homeless close-up highlights the danger of unreality TV – Sentinel Colorado
Posted: at 2:08 pm
Mayor Mike Coffman talks with CBS Channel 4 News Denver reporter Shaun Boyd after his week posing as a homeless vet last week. SCREEN GRAB
Mayor Mike Coffman told a Denver TV reporter this week that people are deceiving themselves in thinking theyre doing the right thing when it comes to dealing with the regions homelessness problem.
He should heed his own advice.
Coffman fooled himself into thinking that by pretending to be homeless for a week he now has the answers to one of the regions most heartbreaking and complicated social problems.
If only it were that easy.
The Aurora mayor became the story this week after posing as a homeless veteran for seven days and hanging out in a few local encampments and shelters.
Becoming the story was clearly his intent. He invited an obliging Channel 4 TV News Reporter Shaun Boyd to exclusively relate his adventure.
This made-for-TV gambit resulted in hubbub over Coffman and Boyd perpetuating old chestnuts and tropes about the cause of homelessness and the mischaracterization of those who dont have a place to live.
Coffman said he pretended to be homeless to learn about whats driving the problem. Instead, he ended up being schooled by homeless advocates, mental health workers and some of his municipal peers about what a bad idea the pretense was.
I think he should issue a formal apology for it. Its completely unacceptable, said Englewood City Councilmember John Stone. He scolded Coffman during a virtual news conference Thursday, called by a consortium of area elected officials and homelessness experts. Stone said he was homeless between the ages of 16 and 21. I was homeless for five years. And Mayor Coffman believes that I am a hopeless case.
Stone was referring to Coffman telling Boyd that, after receiving his masters degree in homelessness last week at street school, he understands now that the regions homeless problem is a lifestyle choice and addiction quandary. Coffman tried backpedaling on the comments the next day on his Facebook page.
My intent was to (highlight) the difference between those staying in the shelters and those staying in the encampments, Coffman wrote.
He surmised that people who live outside choose to so they can do drugs, because drugs are against the rules in shelters. After talking with some urban people on the street who were homeless, he determined that the people living in camps prefer their life on drugs to having to get a job.
Boyd didnt offer any expert opinion during the exclusive segment, nor did she fact-check Coffman even once. The segment allowed him to toss out a veritable catalogue of debunked cliches about the causes, the conditions surrounding people who do not have homes.
He took his show on the road Saturday to FoxNews, where he told his story to an anchor there while B-roll ran from the Channel 4 segment and nobody questioned Coffmans private assertions.
Coffmans scheme was rife with red flags and problems from the beginning.
The mayor is not a journalist, but a journalist should have advised him about the ethical peril he invites by being dishonest about who he really is. Professional journalists embed themselves, but they never lie.
Coffman was also quickly and rightfully called out for passing off a week sleeping away from home as anything close to not being able to call for an Uber to get whisked back to reality if his charade went south or just got tiresome.
Many of the storys critics were incensed by Coffman telling Boyd that he wanted to get information for himself, outside of those with an agenda.
Over many years, Ive talked to and at one point worked alongside advocates in the trenches. I cannot even fathom what kind of nefarious agenda Coffman thinks this army of endlessly heroic do-gooders have. Boyd didnt ask.
Really, homeless advocates dont want people camping in parks and public spaces. Nobody does. They dont see a healthy supply of visibly homeless people as job security nor a financial ticket to the good life.
These patron saints see an endlessly complicated problem that, in the end, results in people living stressful, dangerous and often wretched lives, unable to find a way out of their quagmire.
Visible homeless people are now all over the region.Theyre next to Home Depot in Golden. Theyre behind Lamars Donuts in Broomfield. They are all camped across the metro area, trying to stay alive.
While addiction and homelessness on the street often go hand in hand, there are plenty of addicts with homes and even more people without homes and no addictions. Substance abuse may appear to the untrained as a desire and choice. Of those Ive known, who were addicted to heroin, opioids, alcohol or meth, not one wanted their addiction. Not one. Ever.
For each of them, their addiction was their cruel and relentless master. Heroin and meth dont care that you sleep on a sidewalk.
Coffmans other awakening came from determining that most homeless people arent from here. You dont have to hang out in homeless camps to know that most people everywhere in the metro area arent from here any more. Real experts could set him straight in understanding the problem of homeless is statewide. There are indeed plenty of native homeless people in Colorado.
Coffman and Boyd together virtually ticked off a catalogue of cliches and myths that homeless advocates have worked so hard to debunk.
Asked by Boyd what advice Coffman has regarding panhandlers and do-gooders, Coffman advised not to give them food or money because it only perpetuates the problem.
That fable is common among some people who confuse the erroneous concept of tough love with discipline and accountability.
Successful homeless recovery programs like Bridge House in Boulder and its Aurora counterpart, Ready to Work, work well because they integrate accountability and opportunity.
The debunked tough love fantasy dont feed them is a strategy to control feral cats.
Homeless people are not feral cats. The idea that free food only encourages homeless people to not get jobs is nothing but the fiction Ayn Rand got rich from.
The problem with not feeding the hungry is that they starve. Then, you have starving homeless people and an even more serious problem.
Finally, Coffman said hes hopeful because, out of the blue Denver Mayor Michael Hancock rang him and said he wants to look at a regional solution to the endless problem of homelessness.
Thats nice.
Hancock helped make the problem of camping homelessness a regional problem with camping bans and sweeps that pushed people down the Platte River and up Cherry, Clear, Sand and Ralston creeks years ago.
My entire life Ive heard Hancock and other metro officials call for a metrowide approach to addressing the problem of homelessness.
Hancock and others see sharing the pain of the symptoms of homelessness as the answer, rather than finding ways to treat the problems that cause it.
Well get there, but we need real expertise, real conviction and real resources. What we dont need are boneheaded publicity stunts like this.
Follow @EditorDavePerry on Twitter and Facebook or reach him at 303-750-7555 or [emailprotected]
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The Meaning Of Work For A Happy Life (And New Year) – Forbes
Posted: at 2:08 pm
getty
Good things happen when people work. Honest effort lifts the soul, like medicine for the body, making a vocation much more than a paycheck.
Work produces income, which covers rent and keeps families fed. But at a more fundamental level, work produces feelings of worth. Goal setters in pursuit of happiness for the New Year and beyond cannot overlook the link.
The influence of work on a persons psyche is one reason that forced labor is so abhorrent. Most people recognize the immorality of slavery in all its forms. Covid-19 has uncovered the harm that comes from the opposite: Forced closure of a business or forced unemployment.
Telling individuals they cannot work is just as dehumanizing as telling them they must work. More than just their survival is at stake when this happens. Their meaning is at stake. Nutritionists say, You are what you eat. But a more accurate slogan would be: You are what you do.
Normally no one stands in the way of a persons right to decide when, where and how to work. But the pandemic has shaken things up. For the sake of public safety, government officials have divided work into two categories: Essential and nonessential.
Some people have received permission to continue working while others have received fines or even arrest. Putting first responders and medical workers in a special category makes sense during a health emergency, but other exemptions have been more dubious.
Examples include executive orders favoring Big Box retail over mom-and-pop shops, strip clubs over churches and daycares over schools. California officials even authorized an outdoor catered film shoot while shutting down outdoor restaurant dining in the same parking lot.
Regardless of the justifications, telling anyone that their lifes work does not matter or ranks below someone elses vocation can lead to despair. Television host Mike Rowe, famous for his Dirty Jobs series on the Discovery Channel, describes the risks in a recent Facebook post. Predictably, mental health cases have spiked along with Covid-19 cases.
Even before the pandemic, society has elevated some pursuits over others based on arbitrary or misguided distinctions. People assume, for example, that the noblest and most rewarding work prioritizes others over self, family over career, and corporate social responsibility over core business activity. As I explain in previous columns on selfishness, work-life balance and philanthropy, all of these dichotomies are false.
Another damaging dichotomy is the forced choice between making a social contribution or making money. People who buy into this construct see a necessary tradeoff between doing good and doing well. In their minds a person can have purpose without profit or profit without purposebut not bothas if more of one means less of the other.
My late mentor, Philadelphia Flyers founder Ed Snider, rejected this idea. He saw purpose and profit working together. Money should be the reward, but not the reason, he said, talking about his motivation to stay active. You do it because you enjoy it. You enjoy creating things, building things, and making things better. And the money follows as a reward.
Y Combinator co-founder Paul Graham agrees. Business critics sometimes think the only way to become a billionaire is to exploit others, but Grahams experience as a venture capitalist has taught him the opposite. Entrepreneurs have the greatest likelihood to shake up an industry when they identify novel solutions to problems that are personally meaningful.
RAJSHREE AGARWAL
True success requires purpose and profit. People can track their progress in these areas on independent, parallel axes. But the interplay between the two dimensions is easier to visualize in a grid with intersecting lines. The upper-right quadrant, where purpose and profit meet, is the sweet spot for happiness. As philosopher Ayn Rand explains, happiness is the state of consciousness resulting from the achievement of ones values. This is where Snider found himself when he hoisted the Stanley Cup with his championship National Hockey League franchise.
Zappos founder Tony Tsieh went the other direction after achieving financial success, descending to the lower-left quadrant of the grid prior to his fire-related death in November 2020. Paying his Park City Crew to follow him from Las Vegas to the Utah ski resort town, Tsieh indulged in a hedonist lifestyle with no purpose or profitusing previously earned money to bankroll excessive and endless parties. Without honest work, the mantra to be happy became whim-worship, fueling paranoia and depression in a drug-induced mindlessness that ultimately resulted in self-destruction.
People stuck in the lower-right quadrant at least produce value. They are not criminals or parasites who live at the expense of others. They earn their place in society and receive compensation. But they fail to serve their own values, perhaps never having defined them in the first place. In many cases they mistakenly pursue profit as the end goal. They fail to understand that money is a tool to serve ones values, but it cannot substitute for them. Wealth and status in other peoples eyes cannot fill the emptiness that such people perceive when looking in a mirror.
People in the upper-left quadrant make the opposite mistake. They see profit as exploitative or mistakenly assume that self-interest is immoral. Either way, they follow their values without regard to practical concerns like payroll and rent. They may achieve their purpose to some extent, but they fall short of their full potential because they fail to understand the trader principle. To scale up innovation and make it sustainable, people must leverage the power of enterprise and markets. This requires profit, the currency that brings people together to collaborate.
Goal setters looking for happiness in 2021 must work to maximize purpose and profit. The following four principles provide guidance.
Work Is Essential
Nothing worthwhile comes without work. Nature demands it, not only to provide daily sustenance, but also to feed the soul. Some physical comforts seem automatic in free societies, where innovation, specialization and trade enhance productivity. But no one can escape the basic law of economics: Before goods and services can be consumed, they must be produced.
Even if someone inherits wealth or depends on others for food and shelter, they cannot escape the necessity of work for mental well-being. Meaningful work allows people to combine their abilities and aspirations for true success, so they can say: I love what I do and I am good at it. Honest effort in any environment leads to fulfillment.
Work Is Personal
Simply deciding to stay productive is not enough. People must choose among many options to find a vocation that is personally meaningful. As a first-order principle, they must work at identifying their purpose and the accompanying hierarchy of values that comes with it.
What work is essential cannot be left for others to dictate. The crowd is never satisfied anyway. Some critics demand wealth and status as signs of worth, while others demand self-sacrifice and poverty as signs of nobility. Each individual must tune out the voices and think independently. The correct answer might involve working at an orphanage, on Wall Street or at home.
Likewise, each individual must make personal choices about profit, spending it to promote their values. They cannot let others dictate how they earn income or spend it. Both actions are expressions of self.
Work Is Challenging
Staying the course to achieve purpose and profit requires careful goal setting. Research from U.S. psychologist Edwin Locke shows that the best way to feel motivated is to push yourself to do things that you are not certain you can achieve.
Simply identifying stretch goals and making plans to execute them takes effort. Success often requires investment in developing new skills and competencies, which requires pacing and sequencing of tasks. Success also requires anticipation of tradeoffs. Once implementation begins, people must take care to not give up higher values for lower values.
The entire process takes effort. Work is hard, and so is thinking about work. Rather than diving in like a daredevil, people who find purpose and profit usually take a scientific approach. They reflect, plan and then act.
Work is Win-Win
Despite the need for self-reflection, meaningful work does not have to be a lonely endeavor. Once individuals define their personal values, they can embark on a quest to find kindred spiritscolleagues who complement their abilities and match their values to work toward common goals. Win-win relationships result.
The benefits multiply when allies are kind instead of nice. Rather than worrying about hurt feelings, they speak hard truths and keep each other honest. The feedback helps individuals identify holes in their value hierarchy, fostering growth and development. This helps the journey become the destination.
Happiness is hard work, and those who achieve it earn their just rewards. Instead of picking purpose or profit, they choose both. Ultimately, they make no apologies for their success because in their own eyes, they know they are worth it.
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The Meaning Of Work For A Happy Life (And New Year) - Forbes
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Man makes last-ditch effort to recover $280 million in bitcoin he accidentally threw out – CNBC
Posted: at 2:08 pm
The reflection of bitcoins in a computer hard drive.
Thomas Trutschel | Photothek via Getty Images
LONDON A British man who accidentally threw out a hard drive with a trove of bitcoin on it is once again urging local city officials to let him search for it in a landfill site.
James Howells, a 35-year-old IT engineer from Newport, Wales, said he discarded the device while clearing out his home in 2013. He claims he had two identical laptop hard drives, and that he mistakenly put the one containing the cryptographic "private key" needed to access and spend his bitcoins in the trash.
After all these years, Howells is still confident he'd be able to recover the bitcoin. Though the external part of the hard drive may be damaged and rusted, he believes the glass platter inside may still be intact.
"There is a good chance the platter inside the drive is still intact," he told CNBC. "Data recovery experts could then rebuild the drive or read the data directly from the platter."
Howells says he had 7,500 bitcoins which, at today's prices, would be worth more than $280 million. He says the only way to regain access to it would be through the hard drive he threw in the trash eight years ago.
But he needs permission from his local council to search a garbage dump he believes contains the lost hardware. The landfill is not open to the public and trespassing would be considered a criminal offense.
Howells has offered to donate 25% of the haul worth around $70.8 million to a "Covid Relief Fund" for his home city if he manages to dig up the hard drive. He has also promised to fund the excavation project with the backing of an unnamed hedge fund.
But the Newport City Council has so far rejected his requests to look through the landfill, citing environmental and funding concerns. And it doesn't seem like local officials are about to budge anytime soon.
"As far as I am aware they have already rejected the offer," Howells said. "Without even having heard our plan of action or without being given a chance to present our mitigations to their concerns regarding the environment, it's just a straight up 'no' every time."
A spokesperson for the council told CNBC it had been "contacted a number of times since 2013 about the possibility of retrieving a piece of IT hardware said to contain bitcoins," the first being "several months" after Howells first realized the drive had gone missing.
"The council has told Mr Howells on a number of occasions that excavation is not possible under our licencing permit and excavation itself would have a huge environmental impact on the surrounding area," the council spokesperson said.
"The cost of digging up the landfill, storing and treating the waste could run into millions of pounds without any guarantee of either finding it or it still being in working order."
It's not hard to imagine why Howells would want to salvage the equipment. Bitcoin prices have skyrocketed in the past few months, hitting an all-time high near $42,000 last week before pulling back sharply.
The New York Times reported Tuesday that a programmer in San Francisco has been locked out of 7,002 bitcoins worth about $267.8 million today because he forgot the password needed to unlock a small hard drive containing the private key to a digital wallet.
Bitcoin's network is decentralized, meaning it isn't controlled by a single individual but a network of computers. Each transaction originates from a wallet which has a "private key." This is a digital signature and provides mathematical proof that the transaction has come from the owner of the wallet.
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Market Wrap: Bitcoin Hits $40K Again While Ether Volume Is Erupting This Year – CoinDesk – CoinDesk
Posted: at 2:08 pm
After closing out last week at over $40,000 on Sunday, bitcoin hit that price again Thursday while traders are pushing ether volumes to new liquidity levels.
Bitcoin trading on Bitstamp since Jan. 11.
Bitcoins price was back to bull mode Thursday, steadily climbing to as high as $40,066, according to CoinDesk 20 data. Its a reversal from this weeks bearish-to-sideways action, with the worlds oldest cryptocurrency at $39,318 as of press time.
Bitcoin passing $40,000 was seen by many as inevitable, and reaching this level is just the continuation of a trend of smart money continuing to buy even as traders with less conviction shake out during sell-offs, Guy Hirsch, managing director for U.S. at multi-asset brokerage eToro, told CoinDesk. The last time bitcoin was over $40,000 in the spot markets was Sunday, Jan. 10, prior to a precipitous fall opening the week.
Bitcoins historical price the past week.
Institutions are still buying up BTC in huge quantities, said cryptocurrency over-the-counter trader Alessandro Andreotti. I think this rally can continue as before, but its too early to call.
In the derivatives market, funding rates are still in positive territory, signalling that leveraged traders are more than willing to pay up to pile more margin on long plays, according to data aggregator Skew.
BTC swaps funding on major derivatives venues.
High volatility is having little impact on risk appetite, noted Denis Vinokourov, head of research at crypto brokerage Bequant. Recent success in these opportunistic and somewhat ambitious market bets is also likely driving herd-like behavior.
Indeed, volatility is high in the bitcoin market: The cryptocurrencys 30-day realized volatility was at over 89% Wednesday, the highest it has been since April 17, 2020, when that metric was at 92% in the early days of coronavirus-induced turmoil across all markets.
Bitcoins 30-day volatility the past year.(Shuai Hao/CoinDesk Research)
Analysts dont expect volatility in the cryptocurrency market to abate, which can actually be good for traders but can be horrendous for long-term investor balance sheets, particularly institutional funds with limited partners to whom they must answer.
People need to understand that bitcoin is a hyper-asset with a built-in steam engine that is explosive up and down, noted over-the-counter crypto trader Henrik Kugelberg. With all the money printing and the sad developing spread of COVID-19 throughout the world, widespread agonizing economic hardship and a few more factors spell advantage to bitcoin.
Chad Steinglass, head of trading for digital assets capital markets firm CrossTower, agrees gyrations in crypto will continue. I believe that the trend of bull runs briefly interrupted by short duration profit taking dips will continue for the foreseeable future.
Ether volume bonanza so far in 2021
Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Thursday, trading around $1,210 and climbing 8.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
In 2020, ether volumes on the eight major CoinDesk 20 spot exchanges averaged $231 million per day. In 2021 so far, those volumes are up almost twelvefold, averaging $2.7 billion per day.
Ether volumes on major spot exchanges the past year. (Shuai Hao/CoinDesk Research)
Brian Mosoff, chief executive officer of investment firm Ether Capital, noted decentralized finance, or DeFi, as a spark leading to volumes beginning to rise in 2020. For 2021, Mosoff cites the ongoing bull run and new derivatives tools coming online for traders.
Although 2020 ended in a bull market, the first half of the year saw the ETH prices average just a couple hundred dollars and a lack of positive sentiment due to the prolonged bear market and then COVID-19, Mosoff said. Adding fuel to the fire, 2021 has kicked off with the continuation of the crypto bull and the pending launch of the CME futures and institutions waking up to the narrative around Ethereums value proposition.
Other markets
Digital assets on the CoinDesk 20 are mixed Thursday, mostly in the green. Notable winners as of 21:00 UTC (4:00 p.m. ET):
The CoinDesk 20: The Assets That Matter Most to the Market
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With Bitcoins popularity increasing, what new regulations will we see? – Marketplace
Posted: at 2:08 pm
It been three years since the great Bitcoin crash that followed a cryptocurrency frenzy of 2017. These days, some Bitcoin fans think this has matured as an investment vehicle.
A Bitcoin is a store of value made up zeros and ones, which hit an all-time high of nearly $42,000 a week ago today. With ascent of this digital asset as things like Bitcoin or Ethereum are called, some deeper-pocketed people have been turning to their investment advisers and wondering if they might be able to sprinkle some of this in among their stocks, bonds and gold.
There has been quite significant demand, said Joel Revill with the investment firm Two Ocean Trust, which pushed for and now received legal and regulatory approval in its base in Wyoming to add digital assets to portfolios.
There are many cryptos, but right now Bitcoin is the star. Revill see two groups that want this stuff in their mix, starting with the Bitcoin super fans, whove been following its development all along.
Thats the crypto native investor, someone who is well aware of the unique characteristics of say, Bitcoin, and has created their wealth by investing in Bitcoin, but has not really thought much about traditional wealth or estate management, or tax planning, Revill said.
Beyond these folks, there are now also just wealthy investors, or the outfits representing wealthy families, who are intrigued by the asset class, are dipping their toe in this for the first time, but they come with the expectations that they will have the same legal protections, and regulatory clarity, and trade execution, and reporting that they expect with investments in traditional assets, Revill said.
Individuals can get just order Bitcoin if they have the money. But financial advisers and professional money managers generally havent been able to add Bitcoin to the portfolios they manage. It has to do with a 1940s law and third-party custodians.
What we havent seen is sort of mainstream adoption by the banks and broker dealers, because of the lack of clarity thus far from their regulators, Revill said.
But heres the thing: Wyoming wants to attract this kind of business and has now passed a series of laws spelling out how to handle Bitcoin-style digital assets. The regulators there, Revill said, are also on board.
Our firm Two Ocean Trust is based in the state of Wyoming and we recently received a letter from our regulator that has permitted us to provide qualified custody for both traditional and digital assets, Revill said. It was the first of its kind issued by a bank regulator.
At the national level, the Securities and Exchange Commission is also considering ways to clarify these rules. In recent weeks, it sought feedback from financial professionals.
Thats the news, but to back up, why would non-tech-savvy investors be interested in Bitcoin at all? First, if inflation were to rise from the dead, by definition, traditional money drops in value. Thats Bitcoin as an inflation hedge.
Also, by design, there wont be much more Bitcoin created and this limited supply might drive up its price. Lastly, Revill said, Bitcoin is also useful in new financial technology that emerges.
Think of it as a replacement for global payment and settlement systems, Revill said. There are many significant advantages.
That is, if the global laws and regulations that govern this world of digital assets allow these things to happen, or if some other technology doesnt supplant it.
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What is bitcoin and why are so many people looking to buy it? – The Guardian
Posted: at 2:08 pm
What is bitcoin?
Bitcoin is a type of digital currency that emerged after the 2008 financial crisis. It allows people to bypass banks and traditional payment methods. It has become the most prominent among thousands of so-called cryptocurrencies.
It relies on blockchain technology, which is a shared database of transactions, with entries that must be confirmed and encrypted. The network is secured by individuals called miners who use high-powered computers to verify transactions, with bitcoins offered as a reward. There are more than 18m in existence, and the mathematical system controlling the generation of new bitcoins which is decentralised and therefore has no overarching institution such as a central bank has a hardwired maximum of 21m coins.
There are several currency exchanges where consumers can swap traditional fiat money backed by governments for cryptocurrencies, which must be stored using a digital wallet. Some of the biggest exchanges include Bitstamp, Coinbase and Gemini. However, finance firms have also created new investment products based on bitcoin and other cryptocurrencies, such as contracts for difference, which are used to track the value of an asset without needing to directly own it.
There are problems when it comes to using bitcoin as a currency, with many people simply owning it as a speculative investment instead, given its tendency for extreme swings in value.
Within the space of a single hour on Monday alone, its value fell by about $3,000 (2,230), then rose again by about $2,000. This makes it almost impossible to put a reliable price on goods and services.
Instead, there are ways to pay using applications such as BitPay, which converts bitcoin funds in a digital wallet to pay for goods in traditional currencies used by retailers. Transactions are growing, more so online than in physical shops, with firms including Microsoft, Lush and Expedia accepting payments. The first-ever bitcoin transaction was made in 2010, when a Florida man paid a British man 10,000 bitcoins to order him two Papa Johns pizzas. Today that would be worth more than $300m.
The City regulator is concerned crypto investment firms could be overstating potential payouts, or understating the risks, from investing in bitcoin and products related to the digital currency.
As a newer and relatively lightly regulated market, consumers are unlikely to have access to state-backed compensation if something goes wrong. There has also been a boom in bitcoin scams.
There are three main factors influencing the bitcoin price. First, the media frenzy over its boom in value, drawing in new buyers looking to make money. Second, more traditional finance firms are investing in the market. And finally, comparisons between bitcoin and gold, which fit with trends in the global economy.
The development of Covid-19 vaccines could enable a swift economic recovery from the pandemic, at a time when governments and central banks are still providing vast amounts of emergency support which could trigger a burst of inflation. Some investors view bitcoin as a store of value, similar to gold, which can hold its worth during times of economic stress or rising inflation.
Bitcoins value is almost entirely defined by perceptions. Some economists believe it is entirely worthless. However, analysts at JP Morgan have said it could hit $146,000 if it became as established as gold for investors. However, to match this reputation built up over millennia as a thing worth owning, with otherwise little intrinsic value it would need to become much less volatile.
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Market Wrap: Bitcoin Claws Back to $36.4K While 25% of Ether Options Will Expire in March – CoinDesk – CoinDesk
Posted: at 2:08 pm
Bitcoin is making gains, though much of the day saw the cryptocurrency in a holding pattern. Meanwhile, a quarter of ether options are expiring in March, meaning traders are making some bets on the first fiscal quarter of 2021.
Bitcoin trading on Bitstamp since Jan. 10.
Bitcoin was able to recover from a drop in price Wednesday. After going as low as $32,463 around 01:00 UTC (8 p.m. ET Tuesday), it was able to stay in a $34,500-$35,000 range before breaking out to $36,464 before settling at $36,286 as of press time.
Despite the past few hours of price gains, analysts refer to a day of little price action as a sideways or flat market. Its not clear after so much excitement for the worlds oldest cryptocurrency in the first few days of 2021 what might happen next for the price, according to Misha Alefirenko, founder of crypto market maker VelvetFormula.
I have no clear view at the moment, Alefirenko told CoinDesk. Looks like big guys stepped away to wait and see. The market has to find its own balance.
Bitcoin spot volumes were clearly taking a breather after Mondays record-high daily zenith of $13.5 billion for the eight exchanges tracked by the CoinDesk 20. For Wednesday, the tally was at $4 billion as of press time, closer to the past months $3.8 billion daily spot average.
Daily BTC/USD volumes on major exchanges the past month.(Shuai Hao/CoinDesk Research)
However, Constantin Kogan, partner at crypto investment firm Wave Financial, has a bearish view of the bitcoin market. We may go even lower to $23,000, Kogan said. Because buy the dip is a strategy deployed in the crypto market if digital assets start dumping, prices may eventually find their near-term bottom. There is a zone from which they (traders) will start to actively buy back, Kogan added.
Another chart to note as bitcoins price has lifted over 23% so far this year is that of the dollar index (DXY), a measure of the greenbacks strength versus a basket of other fiat currencies. This time last year, the DXY index price was over 97. So far in 2021, its struggling to stay above 90.
The US Dollar index 4-hour chart the past year.
Wave Financials Kogan also noted there has been a closer, albeit opposite, relationship between United States duckets and bitcoin of late. The decline in bitcoin Monday occurred simultaneously with the strengthening of the dollar index, he said. As a result, the two largest currencies digital and traditional once again showed an inverse correlation.
Ether options expirations piling up in March
The second-largest cryptocurrency by market capitalization, ether (ETH), was up Wednesday, trading around $1,110 and climbing 2.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
The amount of open interest in ether options is heavily favoring the March 21 expiration. That is where 25% of current options open interest are to be found, according to data from aggregator Skew.
Ether options open interest by expiration date.
Mostly its rolling, said Vishal Shah, founder of derivatives exchange Alpha5, referring to a strategy where traders roll up to a higher strike price. And while most strikes are favoring a sub-$800 spot price, the majority of the trades for Wednesday were calls (62%) versus puts (39%).
Current-day option flow orientations.
Shah told CoinDesk the March 21 expiration date pile-up correlates nicely with the end of the fiscal quarter and may explain why its taking the lions share of ether options open interest. Quarterly expirations are typically larger than monthly, and March is now the nearest quarterly expiry, he said.
Other markets
Digital assets on the CoinDesk 20 are all green Wednesday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
The CoinDesk 20: The Assets That Matter Most to the Market
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Market Wrap: Bitcoin Claws Back to $36.4K While 25% of Ether Options Will Expire in March - CoinDesk - CoinDesk
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