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Daily Archives: May 7, 2022
Moon Knight Theory: Real Reason Khonshu Hates Ammit – FandomWire
Posted: May 7, 2022 at 7:31 pm
Moon Knight Episode 6 has come up to an explosive and convoluting conclusion. Oscar Isaac has given us probably the best show in MCU that doesnt directly connect to the larger shared superhero universe. The Ennead, the Egyptian Pantheon of Gods, are heavily featured in Moon Knight. But two Gods among them have a rivalry that runs deep. Khonshu and Ammit do not see eye to eye. Both have a strong sense of justice but hate each others approach in passing judgment. Moon Knight Episode 6 sees that rivalry develop into a fist trading climax. But ever wonder why Khonshu hates Ammit so much?
SPOILER ALERT: MAJOR Spoilers For Moon Knight Episode 6 Up Ahead.
This Moon Knight Theory claims to know the answer. Khonshu hates Ammit not because of their difference in approach to dishing out justice. It is the way how Ammit intends to create an ideal world.
The crocodile faced deity Ammit has but one goal. She sees humanity as flawed and wants to show them the way to a utopian parallel. But to do so requires sacrifice. Ammit wants to root out all flawed human beings. And by flaws, we mean people who are prone to walk the path of evil. Ammit uses the scales of justice to measure a persons potential worth and if the scales do not tilt in the persons savor, she devours the soul. Arthur Harrow would have us believe that Ammit only devours unworthy souls, the souls of sinners that will doom the people around them.
But what if theres more to it than that? What if the real reason Khonshu hates Ammit is because Ammit is a liar who doesnt care about how good or bad a soul is. All she cares about is
This new Moon Knight theory gives the perfect explanation why Khonshu hates Ammit. The show would have you believe that Khonshu hates ammit because Ammit judges a person before he or she has committed a crime, thereby taking their choice. But there could be more to it than that.
Ammit wants to create a world where there is no evil and no potential for evil. But that does not happen with a simple enough plan like hers. Megalomaniacs like Ammit always have a selfish way of achieving their objective. When Ammit judges a soul, she may not be even looking at the persons future. She is most likely looking at how complacent and docile this person is. If the person she is judging has too strong a will, then he or she will resist Ammits authority. Only weak willed people will never speak up against her rule in her new utopia. Ammit is not judging worthiness. She is merely sparing people who are weak enough to kneel to her.
Moon Knight episode 6 proves this theory true. Arthur Harrow, whose scales are unbalanced, is still chosen by Ammit to be her Avatar and his death is delayed. That is because Harrow willingly submits to Ammit, and this becoming worthy of the new world order she is set out to create.
Many of humanitys greatest innovations came out of the most despicable things. When humanity was given a choice, they made strides. From gunpowder to nuclear weapons, almost every human innovation started out as a weapon of despair. If evil didnt exist, there would be no adversity for humanity to overcome. Without a sense of purpose, humanity ceases to exist.
Khonshu even chose a sinner like Marc as his Avatar. If Ammit would have had her way, Marc would have ended up in the Duat long before he became Moon Knight. Khonshu has walked the Earth for thousands of years and knows humanity better than Ammit. He knows mankind only overcomes if it meets an opposing force and it is given a choice to do so. Thats why Khonshu hates Ammit and her ways.
They are petty and selfish.
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Is Tasmania still the Apple Isle? Growers crunch the numbers as domestic and export markets shrivel – ABC News
Posted: at 7:31 pm
When the Duke and Duchess of York visited Tasmaniain 1927they were greeted in Hobart by a huge street arch made from apples that proudly read:"Welcome to Apple Land".
For about 100 years, Tasmania heavily marketed itself to the world as the "Apple Isle" an idyllic English farming Utopia to grow its apple exports and attract new residents.
But the export industry collapsed almost overnight in the 1970s when Tasmania was squeezed out of the European market.
The Apple Isletitle sticks 50 years on, despite the state exporting only eight per cent of Australia'sapples last season and making up only 16 per cent of the domestic market.
So, can itkeep its Apple Isle title?
When University of Tasmania history and classics PhD candidate Carla Baker visited Tasmania in the 1990s, her first question was:"Where are all the apples?"
And since moving to the state a decade ago, it isa question that has turned into a thesisfocusing on apples in the north of the state.
MsBaker is looking into when the Apple Isle title came about, and how the industrycollapsed.
"Tasmanian apples were a very big part of the empire marketing board campaign in the 1920s and 1930s," Ms Baker says.
Apples were part of the ecological colonisation of Tasmania, by making it look like Britain.
"Apples were a very English kind of landscape."
She will look into areas like Lilydale, in the state's north-east, that once had hundreds of hectares of apples, but today has none
Captain William Bligh planted Tasmania's first apple trees in 1788on Bruny Island at Adventure Bay.
Up north, the first site was at York Town in the Tamar Valley.
The climate was agreeableand the apples stored well. When steamships got refrigeration in the 1890s the industry took off.
"That's when the real overseas market came to the fore, with frozen meat and then dairy and fruit being able to go," Ms Bakersaid.
"It changed the apple industry."
The Launceston apple exhibition of 1914 also sold Tasmanian apples to the world, with the advantage of being able to export into opposite seasons in Europe and South Africa.
It was not without challenges, with codling moth introduced in the 1870s threatening the industry.
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Third-generation orchardist Andrew Griggs says the heyday for apples wasfrom the 1940s to the 1960s, before England joined the European Unionin the 1970s.
"Nobody had worked out how to store apples so we could come in with fresh,new-season apples when they didn't have any," he says.
"There was picking of a daytime and packing of an evening and stackingonto trucks early the next morning, and we had boats coming into Port Huon and Hobart as well as up north."
The government implemented a tree-pull scheme in the 1970sto get families out of the industry,and apple production in the state halved in just three yearsafter peaking in the previous decade at seven million cases of export apples.
Mr Griggs said his family's orchard at Lucaston in the Huon Valleyshifted its focus from Europe to South-East Asia and the domestic market.
"Other countries were starting to produce more and more apples and our costs started to increase," he says.
"It became harder to get a price that was needed."
The introduction of controlled-atmosphere storage meant other countries could store apples longerand it was no longer a benefit to be counter-seasonal.
Labour costs went upand packing requirements pricedsome growers out.
Mr Griggs' father went overseas in the 1990s and saw that other apple growers were also producing cherriesand he started to try it out in 1996.
"All of a sudden we had something we could export again," he says.
It's estimated that in the 1960s there were 4,000 apple-growing families in Tasmania. Now there are about 20.
More restructures of the industry are expected this yearand almost no Tasmanian growers export overseas.
"Last year was an absolute disaster;we had a big crop and low sales and a huge amountof apples left over at the end of the season," Mr Griggs said.
"In Tasmania we've always got this disadvantage of freight costs across Bass Strait andwe're always going to be $90 a bin worse off than somebody growing them in Victoria."
Mr Griggs says some smaller growers have told him it isbecoming too hard and too marginal to grow apples.
"We're in the same category," he says.
"We're going to be taking out some less productive blocks and replanting cherries.
"Over time we will have more cherries than apples."
A good season two years ago was due to 30 per cent less crop being available, and Tasmania filledthe gaps.
"That tells youif we were growing 30 per cent less, growers could make a living," Mr Griggs said.
Tasmania is still growing apples, just on a small scale compared to local and interstate marketsand has pivoted to ciders, juices andspecial varieties.
"The Apple Isle is much more a term we don't refer to ourselves as," Ms Baker says. "I think it's more an imagined title.
"I like it.I think it's a nod to our heritage and the importance of the agricultural economy down here still.
"The connotations it brings aren't about apples ... it's about culinary tourism, it's shorthand for a foodie's paradise."
Ms Baker says the title can stay, but people perhaps should not take it literally.
"It's indicating a food and purity notion rather than specifically apples, as it was back in the day," she said.
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Maureen Shea ready to begin "Take Back" this Saturday in New York homecoming fight – PhilBoxing.com
Posted: at 7:31 pm
Maureen Shea ready to begin "Take Back" this Saturday in New York homecoming fight
PhilBoxing.comSat, 07 May 2022
NEW YORK Maureen Shea insists that her homecoming fight this Saturday is not a comeback; its a take back.
The Bronx native Shea (29-2-1, 13 knockouts) will face Calista Silgado (19-13-3, 14 KOs) at Carnesecca Arena at St. Johns University in the Jamaica section of Queens, N.Y.
The eight round junior featherweight bout will be part of the Borough Boxing card promoted by Joe DeGuardias Star Boxing.
Shes been in there with a lot of top fighters. Shes a strong girl, shes definitely durable and the experience is there so I expect a good fight. Im not looking for the knockout, if it comes it comes. But Im looking to put on a boxing clinic, said Shea of Silgado, a native of Santiago de Tolu, Colombia who has fought eight times for a world title.
The fight will be Sheas first in her hometown since 2010, and The Real Million Dollar Baby is excited to return home to begin her campaign to become world champion once more.
Im looking at myself and Ive definitely evolved as a woman and as a fighter, said Shea. I know my why, I know why Im doing this now.
Shea has been one of the most accomplished female boxers over the past couple of decades, and has not lost in over a decade. She has won a pair of world titles and become a fan favorite through her thrilling fights, both in the United States and her mothers home country of Mexico.
Still, there is plenty of unfinished business remaining for Shea, who was unjustly denied her world title opportunity last year by the WBA after she was passed over for a shot at the vacant bantamweight title despite being the no. 2 ranked contender.
Instead, the no. 8 and 9 ranked contenders fought for the vacant belt. Shea was also ranked no. 2 by the IBF at junior featherweight, but was dropped altogether from the IBF rankings.
Shea believes that the landmark womens fight this past weekend between Katie Taylor and Amanda Serrano which sold out Madison Square Garden is indicative of what the sport is capable of if the right fights are made.
Im not doing this just for myself, Im also doing this for a lot of women who get passed up, said Shea. After what happened last weekend, eyes are now on womens boxing more than ever before. Im looking forward to putting on a great performance. The fans deserve those big fights. Theyre getting these girls who are fighting for world titles that are mediocre fighters. Its unfair to the fans. What happened last weekend, I want to happen now for my weight class.
Shea is now based in Boca Raton, Fla., where she is trained by boxing coach Derik Santos and strength and conditioning coach Phil Daru.
Carnesecca Arena is located at 80-00 Utopia Pkwy in Jamaica, N.Y. Doors open at 7 p.m.
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I work at Dairy Queen and here are two secret menu items you need to try… – The US Sun
Posted: at 7:31 pm
ON a hot summer's day, a delicious Dairy Queen ice cream always helps beat the hot sun.
However, Shelby, a Dairy Queen employee, explains that you don't always have to order off the main menu.
1
There are secret menu items that many people don't know about.
In her TikTok video, Shelby explains that you can still order an old menu item, like the triple chocolate utopia.
If you are unfamiliar with the triple chocolate utopia, it is a creamy vanilla soft serve that is topped with cocoa fudge, brownies and chocolate chunks.
Dairy Queen customers are still able to order this item because all the franchises still carry the ingredients needed to make the sweet treat.
However, since it was on the old menu, you might have to explain to the Dairy Queen employee how to make it.
You can also order the blizzard version of the dessert, which is known as the chocolate brownie extreme.
Another secret menu item is the Smore's galore.
It is a three-layer parfait with marshmallow, fudge and crushed graham crackers, topped with soft serve and more hot fudge.
If you do decide to order the Smore's galore, you should know that not every Dairy Queen carries crushed graham crackers.
Along with these secret menu items, you should also try Dairy Queen's new menu items, Cheesy Dude Sandwich and cheesy steak fingers.
These items are available now until June 12 or while supplies last.
The Cheesy Dude Sandwich is a crunchy, crispy-fried chicken patty that is infused with pepper jack cheese and topped with lettuce, tomatoes, salad dressing and more pepper jack cheese, served on a warm, toasted bun.
The cheesy steak fingers are filled with pepper jack cheese, and they can be ordered in four or six pieces.
The Sun revealsif KFC is adding a new sauce andplant-based chicken to its menu.
Plus, we discusshow McDonalds and KFC give out free food to hero Ukrainians.
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The Good Brothers Are Proud The NJPW Fans Illegally Cheered Them – Wrestling Inc.
Posted: at 7:31 pm
Karl Anderson and Doc Gallows, better known as The Good Brothers, appeared on Thursdays edition of SiriusXMs Busted Open Radio.
The duo had just returned from Japan after appearing at NJPW Wrestling Dontaku on May 1 in Fukuoka. The pair appeared and reunited with The Bullet Club. Karl Anderson disclosed just what it meant to them to return to Japan.
We went to Japan with WWE. We were lucky enough to go four times, we went every single year, Anderson said. Each time, it always brought back great memories, but nothing was like landing back in Tokyo, getting picked up by the New Japan office, the same office that picked me up six years ago, taking me over to the same hotel I stayed in back in the day, seeing all the same people.
I got to the hotel room, me and Gallows were texting back and forth, sending videos of all the drinks we got from the convenience stores and how excited we were. We felt like children. Gallows even sent me an emotional video. I dont know if it was because he was half-hammered coming off the plane, but it just felt right to be back in Japan, even before we got to the New Japan show in Fukuoka five days after landing.
Doc Gallows also added just how surreal it was to be back in the country, and stated that it couldnt have been any better.
Man, it was almost surreal, Gallows said. So cool, like you said, getting to see our old friends, guys we used to go out with and have dinner every night in different towns and stuff like that. I definitely missed the eating tour of Japan. [Tommy] Dreamer and I were talking about that after we were on Busted Open the last time, when he ate 86 pieces of sushi just to impress us. But yeah, all the way around, it couldnt have been better. And to get to go to the PayPay Dome in Fukuoka, run out there again with wrestling happiness. [Its a] wrestling utopia, brother.
One major notable observation from The Good Brothers appearance at Wrestling Dontakuwas that the New Japan fans gave them a reaction, even though legally, they were supposed to remain silent and wear masks due to current restrictions. Anderson says the NJPW fans were excited to see them.
You know what I like the most? It is that Japanese wrestling fans, and Japanese sports fans in general right now, legally, are not allowed to cheer, Karl Anderson said. Theyre not allowed to make noise. They have to wear their mask and no noise is allowed to come from their mouth. That was my first disappointment, was I said, man, were not gonna get a pop. So before we went out, I said, listen, we know we arent going to get a reaction, they have to be quiet, dont worry.
We run in there, we slide in, we beat him [Okada] up, I took my hat off, and I heard the pop. I thought that was an audible pop, theyre not allowed to cheer. Theyre illegally cheering for the boys.
The Good Brothers will be back in action this Saturday at IMPACT Wrestling: Under Siege 2022 when they team up with fellow Bullet Club members Chris Bey, Jay White & El Phantasmo to take on Honor No More consisting of Eddie Edwards, Kenny King, Mike Bennett, Matt Taven & Vincent.
If you use any quotes from this article, please credit SiriusXMs Busted Open Radio with a h/t to Wrestling Inc for the transcription.
Have a news tip or correction? Send it to [emailprotected]
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The Bitcoin Bloodbath Will Get Worse. This Is Fine. – Decrypt
Posted: at 7:30 pm
It's getting ugly out there.
Bitcoin is down over 8% this week and has fallen nearly 50% from last year's all-time-high. The situation isn't much better for Ethereum, down 5% over the week, while newer best-of-breed coins like Solana (SOL), Terra (LUNA), and Avalanche (AVAX) fell over 10% this week. Things haven't looked this bad in a while, and it's going to get worse before it gets better.
But don't be alarmed. Like the meme of the dog in a bowler hat sitting in a house on fire: This is fine.
Before getting into why things will be (mostly) fine, let's take a look at what's causing crypto to melt down in the first place.
The primary culprit is the global macroeconomy. Governments around the world are being walloped by inflation levels not seen in 40 years, and central banks are finally taking measureslike jacking interest rates and shrinking their balance sheetsto fix this. Unfortunately, this has meant taking away the cheap money punchbowl that has powered decades of surging stock and real estate prices.
The result has been a wipeout in both stocks and crypto (Bitcoin is more closely correlated with the Nasdaq than it's been in ages) and fear among investors. Meanwhile, other global eventsfrom the war in Ukraine to new Covid lockdowns in Chinaare fueling further sell-offs and adding to the sense of unease. In these circumstances, is it any surprise people are flushing their Shiba Inu tokens? Many crypto enthusiasts, and Bitcoiners in particular, like to believe blockchains will supply an alternative financial reality when the world goes to hell, but it's clear that's not (yet) the case. Crypto is as prone to macroeconomic shocks as everything else.
Meanwhile, the crypto industry itself has become a bubble waiting to pop. Pick your examplefrom the glut of worthless Layer 1 chains to fly-by-night NFTs to Floyd Mayweather's latest pump-and-dump. There's a lot money being squandered in stupid ways. That's fine as long as there are enough "greater fools" out there to buy that garbage, but when the music stops, it's going to look a lot like the ICO fallout of 2018.
We might be at that stage again now. Paradoxically, though, the current carnage we're seeing should be cause for optimism.
Since the birth of Bitcoin, the crypto industry has been marked by spectacular booms followed by painful crashes.If history repeats itselfand I'm betting it willthe impending downturn will serve as a healthy cleanse and reboot for the industry.
That's what happened in 2013 when the price of Bitcoin brushed the once jaw-dropping figure of $1,200, only to plummet afterward. It took years to reach that level again, but in the interim, something remarkable happened: dedicated teams put their heads down and built a series of innovations that transformed the industry. By the time the next boom rolled around in 2016, crypto had gone from being just Bitcoin and a handful of altcoins like Litecoin and XRP to encompass smart contracts, utility tokens, and a multi-chain future.
A similar thing happened after the bust of 2018. When crypto came roaring back in 2021, the technology had changed profoundly. A series of stylish NFT platforms had eclipsed the primitive CryptoKitties of the previous boom, DAOs took off for real, and the entire plumbing of the industry had become far more sophisticated.
It's going to happen again. Just as in the past, the dilettantes and hustlers will move to some other shiny thing, while the real crypto believers will stick around to lay the groundwork for the next era of Web3.
It's hard to predict exactly what this next era will look like, but a good bet is that it will feature low gas fees, easy-to-use Layer 2 options, and NFTs moving to the core of the music and entertainment industries. It's a fun future to imagineprovided you have the stomach to get through another Crypto Winter.
This isRoberts on Crypto, a weekend column from Decrypt Editor-in-ChiefDaniel Robertsand Decrypt Executive EditorJeff John Roberts. Sign up for theDecrypt Debrief email newsletter to receive it in your inbox every Saturday. And read last weekend's column: Sam Bankman-Fried's Bahamian Honeymoon Phase.
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Luna Foundation Guard further bolsters stablecoin reserve by raising $1.5 billion in bitcoin – CNBC
Posted: at 7:30 pm
People walk through the North American Bitcoin Conference held at the James L Knight Center on January 18, 2022 in Miami, Florida.
Joe Raedle | Getty Images
The Luna Foundation Guard has acquired $1.5 billion in bitcoin to bolster the reserves of its most popular stablecoin, known as U.S. Terra.
Stablecoins are cryptocurrencies that aim to peg their market value to a more stable asset. This latest transaction by the Luna Foundation Guard brings it closer to its goal of accumulating $10 billion of bitcoin to back the U.S. Terra stablecoin or UST.
Do Kwon, cofounder and CEO of Terraform Labs, the group that launched the Terra blockchain, said he expects to reach the $10 billion goal by the end of the third quarter.
The reserve now holds about $3.5 billion in bitcoin, which puts the UST Forex Reserve in the top 10 bitcoin holders in the world. It also holds north of $100 million in avalanche, another cryptocurrency.
In its latest bitcoin acquisition this week, the Luna Foundation Guard closed a $1 billion OTC swap with crypto prime broker Genesis for $1 billion worth of UST. It also bought $500 million of bitcoin from crypto hedge fund Three Arrows Capital.
U.S. Terra also joined the top 10 cryptocurrencies by market cap, according to CoinGecko.
"For the first time, you're starting to see a pegged currency that is attempting to observe the bitcoin standard," Kwon said. "It's making a strong directional bet that keeping a lot of those foreign reserves in the form of a digital native currency is going to be a winning recipe."
"The jury's still out on the effectiveness on the subject, but I think it is symbolic in the sense now that we live in a time where there's excess money printing across the board and when monetary policies highly politicized that there are citizens that are self-organizing to try to bring systems back to a sounder paradigm of money," Kwon added.
On Thursday, the price of bitcoin declined 9.1%. Luna, the governance token of the Terra blockchain, slid 7.3%. The moves occurred alongside a broad and sharp decline for stocks.
The last time the Luna Foundation Guard bought $1 billion in bitcoin, bitcoin topped $48,000 for the first time since Dec. 31 and luna hit an all-time high.
"The corporate buying of bitcoin can greatly influence the value of the currency and the space itself," said Joel Kruger, market strategist for LMAX Group. "With more demand from institutions comes added liquidity and longer-term interest, while validating the asset class at the same time."
In addition to padding its reserves, the parties in this latest deal are on a mission to bridge a gap between traditional finance and crypto native platforms and protocols.
"There's traditionally been this gulf between where crypto native market participants are participating and Terra is on the far end of that, it's designed by crypto-native people for crypto-native people," said Josh Lim, head of derivatives at Genesis Global Trading.
"There's another corner of the market that's mostly institutional," he added. "They're still waiting on things like buying bitcoin, inserting it in cold storage, or doing CME futures on bitcoin. They're very disjointed parts of the market and Genesis is trying to bridge that gap and allow more institutional capital to come into the competitive world."
Genesis has one of the largest wholesale lending businesses in crypto. By participating in this transaction with the Luna Foundation Guard, the company is building its reserves in luna and UST and using them to interact with their borrowing counterparties, who may be looking to get access to the crypto ecosystem in a risk-neutral way.
It also enables Genesis to distribute some of the Terra assets to counterparties that may have difficulty accepting those assets on an exchange.
"Because we're more of an institutional counterparty that they're familiar with trading with more on the spot, OTC side of things we're able to source this in large size and then parcel it out to people," Lim said.
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Nvidia Fined Over Cryptomining Disclosures. This Week’s Bitcoin and Crypto News – CNET
Posted: at 7:30 pm
Our lead story this week is a Friday ruling from the US Securities and Exchange Commission that ordered Nvidia to pay a $5.5 million fine for what the SEC characterized as inadequately disclosing how much of the company's sales of graphics chips stemmed from cryptocurrency mining.
We'll also cover an NFT sale that rocked the ethereum network, the expansion of the SEC's crypto enforcement unit, Wikipedia ending cryptocurrency donations, and Square Enix selling the Tomb Raider franchise to invest in blockchain and other technologies.
A cryptocurrency mining operation.
The SEC said Friday that Nvidia didn't adequately disclose how cryptocurrency mining impacted its sales of graphics chips. According to an SEC release, "during consecutive quarters in NVIDIA's fiscal year 2018, the company failed to disclose that cryptomining was a significant element of its material revenue growth from the sale of its graphics processing units (GPUs) designed and marketed for gaming."
As part of the settlement with the SEC, Nvidia didn't admit to or deny the findings.
Cryptocurrency mining often relies on higher-end graphics cards, like those used for video games, which some publications, like theBBC, PCMag and Tech Radar, have reported may be partly responsible for a graphics card shortage.
Read CNET's full story on Nvidia's $5.5M fine over cryptocurrency mining disclosure here.
A physical mockup of a digital ether coin.
Bored Ape Yacht Club, owned by parent company Yuga Labs, is one of the better-known NFT collections. The BAYC brand is expanding into an online video game, and on Saturday, Yuga Labs released a collection of digital land grant NFTs to be used inside this game. Each NFT land grant sold for a little under $6,000.
Like most nonfungible tokens, Borred Ape Yacht Club NFTs are built on the ethereum blockchain. Transactions on ethereum come with fees, called gas fees. Gas fees increase as growth occurs in the number of people engaging in transactions at any given time. The NFT land grants turned out to be so popular that gas fees skyrocketed and transactions became incredibly expensive. One person paid $44,000 in gas fees aloneto buy two NFT land plots. In about three hours, Yuga Labs made around $320 million and sold 55,000 digital land plots.
Read CNET's full story on how Bored Ape Yacht Club broke the ethereum network here.
The Securities and Exchange Commission said Tuesday that it's adding 20 new positions to its Crypto Assets and Cyber Unit, which protects crypto investors and safeguards against cyberthreats. "As more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," said SEC Chair Gary Gensler. "By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity."
Read CNET's full story on the Crypto Assets and Cyber Unit expansion here.
The world's seventh largest website is set to stop accepting cryptocurrency donations. The Wikimedia Foundation, which runs Wikipedia, voted on the decision last month, citing environmental and ethical concerns. "We began our direct acceptance of cryptocurrency in 2014 based on requests from our volunteers and donor communities," the foundation said on May 1. "We are making this decision based on recent feedback from those same communities." The website plans to close its Bitpay account, eliminating its ability to accept crypto donations going forward. The foundation further noted they'd continue to monitor the situation.
Bitcoin, the most popular of all cryptocurrencies, is an energy hog that is estimated to use as much energy every year as some countries, such as Norway and Sweden. And some critics say cryptocurrencies raise ethical questions related to money laundering, tax evasion and ransomware, among other things.
Read CNET's full story on The Wikimedia Foundation's decision to end cryptocurrency donations here.
Video game giant Square Enix, the same company that makes the popular Final Fantasy series, sold the Tomb Raider franchise to free up cash for investments in fields including blockchain, AI and the cloud. Square Enix has previously expressed interest in NFTs. The company's president, Yosuke Matsuda, said in a Jan. 1 letter that "the advent of NFTs using blockchain technology significantly increased the liquidity of digital goods, enabling the trading of a variety of such goods at high prices and sparking conversations the world over." In the letter, Matsuda also noted that NFT trading seems overheated with "somewhat speculative overtones."
Read CNET's full story on Square Enix selling the Tomb Raider franchise here.
Thanks for reading. We'll be back with plenty more next week. In the meantime, check out this story by Scott Stein about how the metaverse is trying to figure out your comfort zone.
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Nvidia Fined Over Cryptomining Disclosures. This Week's Bitcoin and Crypto News - CNET
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Stop Telling Me to Buy Bitcoin – The Atlantic
Posted: at 7:30 pm
At first, I was equal parts irritated and confused. My Instagram posts swarmed with cryptocurrency traders marketing themselves. They made claims of astronomical bitcoin profits. Im the first to admit that as much as I like to play on social media, I am very much an analog Generation Xer. So I decided to do a bit of digging into the decentralized digital currency that is bitcoin. I didnt get it.
Now Im starting to understand. These traders claim that they are particularly skilled at making decisions on a daily basis about the market value of digital assets, and they promise high profits. I also noticed that there seems to be a Black-targeted crypto arena on Instagram and that Black people are investing in cryptocurrency at a higher rate than others. In addition to the barrage of messages underneath my posts, there are people I know in the flesh who have implored me through Instagram messaging to sign up with their traders. I believe they are well intentioned, but I havent ever heard them talk about how high-risk and speculative crypto is, or how volatile, which means it is easier to become ruined than rich through it.
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Warren Buffett wouldn’t buy ‘all of the bitcoin in the world’ for $25: ‘It doesn’t produce anything’ – CNBC
Posted: at 7:30 pm
It doesn't look like legendary investor Warren Buffett will be adding bitcoin to his portfolio any time soon.
Asked Saturday at the annual Berkshire Hathaway shareholders meeting if he had changed his famously negative views on bitcoin or crypto, the 91-year-old investor didn't mince his words.
Buffett began his answer by saying that if all the attendees in the room owned "all the farmland in the United States" or "all the apartments in the country" and they offered him a 1% stake for $25 billion, he would write them a check on the spot. But he wouldn't do the same for bitcoin and its over-$700 billion market cap.
"If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn't take it," Buffett said. "Because what would I do with it? I'll have to sell it back to you one way or another. It isn't going to do anything."
He described his views on farmland and rental properties versus bitcoin as "the difference between productive assets and something that depends on the next guy paying you more than the last guy got."
"The apartments are going to produce rent and the farms are going to produce food," he said. "If I've got all the bitcoin, I'm back wherever [anonymous bitcoin founder Satoshi] was."
He attributed the allure of bitcoin to a type of "magic" that draws investors.
"Whether it goes up or down in the next year or five years or 10 years, I don't know. But one thing I'm sure of is that it doesn't multiply, it doesn't produce anything," he said. "It's got a magic to it, and people have attached magic to lots of things."
Buffett has long been against cryptocurrencies. He told CNBC in 2018 that "they will come to a bad ending" and said that Berkshire Hathaway will "never have a position in them."
"I get into enough trouble with the things I think I know something about," he said at the time. "Why in the world should I take a long or short position in something I don't know about?"
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Warren Buffett wouldn't buy 'all of the bitcoin in the world' for $25: 'It doesn't produce anything' - CNBC
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