Economy
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.
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
What factors impact financial markets?
The global financial markets are now hugely complex, with traders and analysts around the world looking closely for signs of movement. What are some of the most important factors to be aware of that impact the financial markets?
Geopolitical events
With news breaking from different countries throughout the day, many different stories could affect the markets on any given day. For instance, economic indicators such as the European Central Bank’s inflation rates and gross domestic product numbers released by each country can determine which direction the markets take. Stocks, currencies and other financial instruments can all vary depending on these areas.
Major events such as war breaking out, natural disasters and elections also have an effect. When we look at the commodities market, climate change is an issue to bear in mind, with unusual weather sometimes causing scarcity or abundance of a certain product.
An interesting aspect of the modern financial world is the way that the different markets are linked. This means that any important event or news story that affects one area could easily affect another, even if the link isn’t obvious at first sight. We can also see how local shocks and events can quickly have an effect at a global level.
The financial crisis of 2008 is a good example, as it started with a serious downturn in the US housing market. Although this appeared to be a localized issue at first, it soon revealed some major issues with the global banking setup that caused problems around the planet affecting millions of people and diverse industries.
Speculation and investment trends
The previous factors all point toward the markets changing, and there’s no shortage of traders around the world waiting to see what happens next and how they can benefit. This means that we need to take into account other issues such as speculation and investment trends in the markets.
Armed with a variety of tools, including candlestick charts, traders try to identify trends such as support and resistance levels. They use the information they glean from the charts to make their moves, which can influence the general market if enough people make the same moves or if the amounts involved are significant.
Once an investment trend begins, it can have a knock-on effect that would have been impossible to predict at the outset. The example of Bitcoin and other cryptocurrencies shows how something that starts small can grow impressively. Cryptocurrencies have now gained enough mainstream appeal to influence and disrupt many industries, from healthcare to gaming and banking.
It’s important to understand how the leaders of a company operate and how they have faced challenges in the past. If we look at banking and the Bank of New York Mellon in particular, we can see that its history can be traced back to 1784, so it has overcome all the major events that have occurred since then. With some of the biggest names in the business world making up its key institutional investors, this is a company that we would expect to react effectively to changing markets.
Regulatory changes and company results
Just about every industry represented in the financial markets has laws and regulations that govern it. This means that the fear of harsher new laws is an almost constant threat. Meanwhile, the hope that beneficial changes to the regulations help businesses prosper is the other side of this matter that investors keep a close eye on.
Let’s not forget the role played by the profit and loss results produced by major companies. It’s clear that these results have an almost immediate effect on their stock prices. However, we should also bear in mind that this effect can reach other areas of the economy. A surprising set of results for a large business can produce shock waves that travel around the market.
What impact do they cause?
From the wide variety of examples that we’ve looked at here, it’s clear that the impact isn’t going to be the same in every case. While one set of circumstances might snowball and cause a huge impact, another might cause a limited impact before the news disappears as other events overtake it.
Having said that, one of the key issues that they cause is a higher degree of market volatility. We can see how this works by looking at an area such as the COVID-19 pandemic in 2020. The markets became a lot more volatile as the different aspects of the pandemic became clear. Streaming companies, healthcare companies and video conferencing technology firms made huge profits, while airlines and hotels were among those to lose out massively.
Working out the overall impact of a particular situation is almost impossible to do now. With so many traders looking over the latest news stories and numbers with advanced tools, the original impact can quickly grow or simply disappear. Therefore, the key for investors is to understand emerging trends and react to them before it’s too late.
These details reveal how complex the global financial market is now. It’s a fascinating world, and with more information at our fingertips than ever before, it’s something that anyone can start to research and understand in their own way.
Economy
Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners
OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.
“The Centodieci combines all the values of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.
This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.
This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.
Recall that each unit costs the owners eight million euros before taxes.
Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.
Economy
The first Dacia hybrid. “The cheapest hybrid family on the market”
BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.
The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.
The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”
Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.
Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.
Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.
Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…
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