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Tesla. Elon Musk “asks for time” from Bitcoin – Technology

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Tesla.  Elon Musk "asks for time" from Bitcoin - Technology

It all started with a declaration of love in February this year, not on Valentine’s Day, but a week before that. Tesla announced that it has invested $ 1.5 billion in bitcoin and will now accept cryptocurrency as a means of payment for its electric vehicles. It was a sign of confidence in the currency, which in the coming weeks will reach a record level, exceeding 60 thousand dollars. The decision also removed some of the barriers that existed in financial markets, leading companies like Visa and Paypal have accepted cryptocurrencies on their platforms, and banks like Goldman Sachs or JP Morgan have offered investment products that take them into account.

During the announcement, many critics pointed out that Tesla’s decision was not quite in line with its environmental and environmental values, which it has so promoted through its electric vehicles. Tesla’s Elon Musk, CEO or Technoking, didn’t seem to pay much attention to this renovation when the love of cryptocurrency exploded, but after the end of the honeymoon phase, relationship issues came to the fore. Last week in tweet (obviously) Musk disclosed that Bitcoin can no longer be used to buy cars until more sustainable methods of working with the network are found blockchain Platform. How big is the impact of Bitcoin on the environment? Let’s move on to some numbers:

  • Bitcoin uses 0.5% of all electricity generated worldwide as a result of transactions and operations booty… This consumption is higher than in all of Argentina, which has a population of 45 million.
  • Bitcoin Transaction Spends 707 kWh energy, 11 times more than Ethereum (the second largest cryptocurrency) and 6,000 times more than Dogecoin (a meme coin that is already the fourth highest capitalized digital currency).
  • Bitcoin transaction uses the same energy as 1 million Transactions with Visa and equivalent 78 thousand hours to watch videos other than YouTube.
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This is because the complex Bitcoin network requires thousands or even millions of attempts to complete a transaction in blockchain and this miners have a proper reward (in coins). This process means that a lot of electricity is ultimately consumed, which in most cases is still produced using fossil fuels that are harmful to the planet. Yet, some theories point to the potential of Bitcoin to subsidize renewable energy investments. Still to be seen.

What’s next? Musk’s decision caused a collapse in the cryptocurrency market:

1) Bitcoin has depreciated about 25% and is now worth $ 42,000 (as of the date of this newsletter).

2) Globally, the market has lost $ 400 billion, given that many cryptocurrencies are correlated with the value of bitcoins.

It is not yet known which path the South African billionaire will take, but for now these are some ideas that can be gleaned from his activity on Twitter.

  • Tesla will not sell your bitcoinsand do not accept currency in transactions until more sustainable methods of dealing with it have been found.
  • Tesla will look for solutions that other cryptocurrencies can offer, namely those that govern spend less than 1% of the total energy spent by Bitcoin.
  • It’s hard to tell a joke from the truth, but last week Musk launched a poll in his account in which his followers asked if Tesla should use Dogecoin as a payment method. 4 million people responded, of which78% said yes.

We don’t know if Musk is ready to move on and find new love, but the Doge’s constant support, whether with memes, whether in sketches humorouswhether giving name Doge-1 to one of SpaceX’s rockets, this seems to indicate that this is the case. This is another example of the influence of a billionaire and how his words influence the direction in which financial markets can develop.

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Economy

Reduced provider discount in December due to falling fuel prices

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Reduced provider discount in December due to falling fuel prices

The Ministry of Finance reported that in December there is a decrease in the ISP discount by 3.9 cents per liter of diesel fuel and 2.4 cents per liter of gasoline, taking into account falling prices.

The guardianship statement states that, as announced, “the mechanism applied in the ISP is equivalent to reducing the VAT rate from 23% to 13%, and the compensation mechanism through the ISP reduces additional VAT income as a result of the changes. in fuel prices remain in effect.

Thus, taking into account the evolution of diesel and gasoline prices, “these temporary measures result in a reduction in the ISP rebate of 3.9 cents per liter of diesel fuel and 2.4 cents per liter of gasoline. a discount of 17.1 cents per liter for diesel ISP and 15.4 cents per liter for gasoline ISP,” the same note reads.

On the other hand, “the carbon tax update will be suspended until the end of the year,” and “taking into account all the measures in place, the reduction in the tax burden is 27.3 cents per liter of diesel fuel and 24.7 cents per liter of gasoline. “.

The government’s rebate mechanism assumes that a decrease in the price of fuel results in an increase in the Tax on Petroleum Products (NPT) due to a drop in VAT revenues.

“Measures to mitigate the increase in fuel prices remain in place in the month of December, while the government continues to support all consumers by reducing fuel taxes,” the ministry reminded.

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The ISP’s rebate, equivalent to a 13 percent VAT rate cut, was due to run until September 4 but was later extended through the end of the year as part of the government’s family relief package due to price hikes.

Average fuel prices have returned this week to below pre-war levels in Ukraine on Feb. 24, with a 5.1% drop for petrol and 4.1% for diesel calculated by ERSE.

According to the “Weekly Report on the Surveillance of Selling Prices for the Public” published on Monday evening by the Entidade Regladora dos Serviços Energéticos (ERSE), “For the week of 28 to 4 December, the effective pre-tax price is 0.860 euro/l. [euros por litro] for straight petrol 95 and 1067 euro/l for direct diesel”, which after tax is 1660 euro/l and 1685 euro/l for straight petrol 95 and straight diesel, respectively.

These figures are comparable to average prices of 1,816 euros/l for 95 straight-through gasoline and 1,660 euros/l for direct diesel filled on February 24 when the Russians invaded Ukraine, according to the Directorate General of Energy and Geology (DGEG). ).

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Economy

The unthinkable happens and the Lufthansa Airbus A380 takes off again two years later.

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The unthinkable happens and the Lufthansa Airbus A380 takes off again two years later.
Image: Lufthansa


This Friday, December 2, 2022, a moment occurred where few expected it to happen again. After repeated claims that the giant Airbus A380 is being retired for good, German airline Lufthansa has come back and decided to put it back into service two years later. As a result, one of the aircraft, registration D-AIMK, parked in Teruel (Spain), flew to Frankfurt.

According to the German company, the aircraft has been at the Spanish airport since May 2020, and since May of this year, more than 3,000 hours of work have been spent on its re-flight preparation. The same service is being performed on three other A380s that the company intends to restore to its network.


However, more work is needed before the aircraft is ready to fly with passengers again. Although additional landing gear maintenance was still required, today’s flight was to be flown at a much lower speed than usual and was performed with the landing gear down.

At the Lufthansa base in Frankfurt, the aircraft will be put on supports so that the landing gear retraction system can be tested. The aircraft will then fly to Manila in the Philippines, where Lufthansa Technik maintains a maintenance base, to undergo final repairs before release.

The Airbus A380 is scheduled to enter service in the summer of 2023 on high-demand flights from Munich. Videos were taken of the departure of the world’s largest passenger aircraft from Teruel (above and below, awaiting loading). Tracking Radarboxin turn, captured the entire flight.

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Economy

Prices for the next week (from 5 to 11 December)

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Crédito Habitação Activo Bank

Fuel price information is based on calculations that take into account quotations on international markets and other factors taken into account when pricing fuel in Portugal. This is the data that I collect weekly from my sources in the fuel market.

I remind you that despite this price indication, each filling station can set the price it considers appropriate🇧🇷 Only private label gas stations should follow brand guidelines. Dealers and each brand may or may not follow the market leaders. But in my experience they go one after the other. This is the price trend for the coming week.

PORTUGAL continental

🇧🇷 Previous weeks*: (-5)(-10)(-7)(4)(-1)(-0.5)(9.5)(11)(+2)(-7)(+1 )(-7)( 11)(5)(-2)(-9)(-1)(-6)(-7)(-9)(-3)(6)(13)(12)(2 .5 )(-2.5 )(-7)(3)(-10 ISP drop)(6)(1)(-5)(-12.5)(16)(-18)(18)(14 , 5)(2.5)(1)( 0.5)(2))(0.5)(3)(2)(2.5)(3)2022

* Order of changes from newest to oldest.

🇧🇷 Previous weeks*: (-5)(-9)(-4)(2)(-1)(-6)(6)(8)(2)(-0.5)(-0.5) (-7)(0.5 )(-1)(-1)(-9)(0.5)(-5)(-5)(-8)(-1.5)(-1)(- 5) (-3)(14)(1.5) (7)(2)(4.5)(-10 ISP drop)(2)(0.5)(-4)(7)(-13, 5 )(14)(7.5)(2)(1)(2)(2) (1.5)(2)(1.5)(0.5)(4.5)2022

* Order of changes from newest to oldest.

| Previous weeks*: (=)(-1)(=)(=)(-1)(=)(1)(-2)(=)(-1)(+2)(=)(=)(= )(-1)(=)(-1)(=)(=)(=)(1)(=)(-2)(1)(=)(-2)(=)(-4)(= )(=)(=)(-1)(=)(-2)(-6)(-10)(21)(=)(12)(=)(=)(1)(=)(-1 )(=)(=)(2)2022

* Order of changes from newest to oldest.

MADEIRA

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