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About Crypto Evangelists, Anti-Vaxxers, And Great Reset Conspiracy Theories!

Jacob Weizman
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About Crypto Evangelists, Anti-Vaxxers, And Great Reset Conspiracy Theories!

In its very essence, Crypto is an anti-establishment phenomenon. Hence, it comes as no surprise that the percentage of explicit Covid-19 conspiracy theorists and anti-vaxxers is disproportionately high. The creation of Bitcoin itself by an unknown individual calling himself Satoshi Nakamoto is also prone to conspiracy theories. Dutch crypto analyst PlanB with the Twitter handle @100trillionUSD has earned 1.7 million followers through his S2F BTC price model and his opposition to the Covid-19 vaccination regiment.

The S2F BTC price model

In March 2019, PlanB introduced his Stock-to-Flow (S2F) BTC price model and released an update in April 2020. In essence, the S2F model adopts approaches to valuing scarce precious metals such as gold, silver, and platinum. PlanB suggests that Bitcoin is an as scarce (digital) resource as precious metals with limited availability of 21 million units. In the S2F price model, Stock is the number of the existing Bitcoins, and Flow is the ongoing creation of Bitcoins via mining.

PlanB‘s S2F model has indeed correctly predicted BTC price (with some variation) since its release. However, the forecast was wrong for the end of 2021. That’s when the BTC price should have been at $100,000, according to the S2F model. BTC ended 2021 with a price below $50,000.

The Covid-19 conspiracy thinking

PlanB has become increasingly involved in spreading Covid-19 conspiracy theories and campaigning against mandatory vaccination in recent months. He retweeted an invitation from the World Economic Forum (WEF) to the 2021 Annual Meeting, which was themed Great Reset. The WEF and its Great Reset meeting are the starting point of conspiracy theories surrounding the Covid-19 pandemic. WEF supporters include large corporations and Microsoft founder Bill Gates, who is at the center of Covid19 conspiracists.

The original tweet with a facsimile of the WEF invitation to a Dutch minister came from Willem Middelkoop (@wmiddelkoop), another Dutch crypto analyst, Covid-19 vaccination skeptic, and government critics. Most recently, PlanB feared that Twitter might suspend his account because of his Covid-19 tweets.

We don’t necessarily share all the views of PlanB and his colleagues but criticism of government actions from Covid-19 lockdowns to the pandemic-related money glut is entirely appropriate. Crypto is, after all, the money of the anti-establishment movement.

Robinhood Presents Huge Losses And A Declining User Base!

Adrian Fuller
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Robinhood Presents Huge Losses And A Declining User Base!

Commission-free retail brokerage Robinhood posted a net loss of $423 million or $0.49 per share in the three months ended December. A year earlier, the company posted a net income of $7 million or $0.01 per share. Shares of Robinhood sank as much as 15% to $9.98 in extended trading following results. The share price at its IPO in July last year was $38, and its record high in August was $85.

Robinhood posted total revenue of $363 million for the fourth quarter ended Dec. 31, compared to $318 million a year earlier. Analysts on average had expected revenue of $362.14 million.

Transaction-based revenue from cryptocurrencies jumped 304% to $48 million in the fourth quarter, while revenue from equity trading declined 35% to $52 million. Robinhood has yet to turn a profit following its IPO. Although revenue was a positive sign, its monthly active users declined 8% from the previous quarter to 17.3 million as retail investors pulled back from the market.

Robinhood enjoyed a strong run during the pandemic, with homebound investors using its app to trade stocks and other assets. However, the platform became a victim of the Meme Stock Revolution. Robinhood has incurred the enmity of the WallStreetBets subreddit’s 11.6 million community for banning the trading of meme stocks at the height of the meme stock revolution. This may have been a strategic mistake.

For the first quarter of this year, Robinhood expects total net revenue will be less than $340 million, which would be down 35% from a year earlier when the meme stock rally boosted trading.

Sorry, But The Meme-Stock Revolution Is Over!

Jacob Weizman
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Sorry, But The Meme-Stock Revolution Is Over!

Remember the Meme Stock Revolution in 2021? Some smart guys behind the Reddit WallStreetBets subreddit and their community (more than 11.5 million members) pushed some penny stocks and transformed them into meme stocks. It was a wild ride for the shares of GameStop (GME) and AMC. These two stocks caught fire in early 2021 as Meme Stock Revolution took off.

On January 28, 2022, they are still up from a year ago, but they’re off to a brutal start in 2022. Shares of GameStop have plunged nearly 35% in January, while AMC has plummeted more than 40%.

The retail trading platform Robinhood, which went public last year became a meme stock itself following its initial public offering, has tumbled as well. Robinhood is down more than 25% this year and is trading at an all-time low. The plunge in Robinhood might be cause for celebration for other meme investors: the so-called “apes” on Reddit who attacked Robinhood last year for briefly restricting the buying of shares of GameStop and other meme stocks.

Some experts argue that the rise of meme stocks is a good thing as it helps to democratize the market. Many of the younger investors have a short-term trading mentality. The love the risk and volatility of meme stocks and cryptocurrencies.

Neither GameStop nor AMC are expected to be profitable this year, or even next. The sell-offs in meme stocks at the start of 2022 may be a sign that investors recognize that the Meme Stock Revolution might have been just another bubble.

Read the story on CNN

Taste That! Mark Wiens On Korean Food Tour In Los Angeles

Charlene Lensburg
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Taste That! Mark Wiens On Korean Food Tour In Los Angeles

Mark Wiens, the US American with Thai roots is certainly one of the world’s most famous food bloggers. According to the motto “I travel for food”, he travels around the world with his Thai wife and son in search of new locations and food. Wiens runs the YouTube channel Migrationology with more than 8.4 million subscribers. In December 2021, he was on a food tour through Los Angeles’ Koreatown or K-Town, which is one of the biggest areas of Korean food and culture outside of Korea.

See the K-Town food tour video!

No New Models in 2022 but Cathie Wood Sticks To Tesla!

Jacob Weizman
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No New Models in 2022 but Cathie Wood Sticks To Tesla!

She still believes in Tela. According to Barron’s, Cathie Wood’s ARK Investment ETFs purchased 33,482 shares of the electric-vehicle company Tesla recently. On the day of the new investment, the Tesla (ticker: TSLA) stock closed Thursday at $829.10, down 11.6%. At that price, Wood paid an estimated $27.76 million for the shares.

The ARK Innovation ETF (ARKK) purchased 27,799 shares of Tesla, according to the daily trades posted by the ARK funds, while the ARK Next Generation Internet ETF (ARKW) bought 5,683 Tesla shares. The ARK funds have been sellers of Tesla shares since around September; the share price has declined 21.5% so far in 2022.

Tesla reported better-than-expected fourth-quarter earnings this week. Adjusted earnings came to $2.54 a share in the fourth quarter on sales of $17.7 billion. Operating profit was $2.6 billion, and free cash flow was $2.8 billion —each of the figures represent quarterly records for the company.

However, CEO Elon Musk disappointed investors when he said Tesla wouldn’t be working on new models in 2022 but instead will focus on producing more of the company’s existing models this year.

Elon Musk About The Most Common Error Of A Smart Engineer

Charlene Lensburg
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Elon Musk About The Most Common Error Of A Smart Engineer
@elonmusklive

What’s your opinion on traditional and conventional thinking?🤔

♬ Sad Emotional Piano – DS Productions

The Vanuatu Way! Financial Offshore Paradise Plans To Turn Onshore

Adrian Fuller
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The Vanuatu Way! Financial Offshore Paradise Plans To Turn Onshore

The Southwest Pacific island nationVanuatu is notorious for being the offshore place of choice for many CySEC-regulated brokers who practice “offshore onboarding” through an offshore entity equipped with a Financial Dealer License from the Vanuatu Financial Service Commission (VFSC), bypassing regulatory requirements of ESMA and CySEC. Typically, these offshore entities only have a P.O. address in Vanuatu but no operation. FinTelegram reports that by the end of 2022, all securities brokers will have to move onshore and make tangible investments.

The new VFSC requirement includes the physical presence of at least one direct employee who matches a ‘fit and proper‘ definition. Those who deal in digital assets must have three people onshore, one of whom is the CTO, along with a minimum capital of US$500,000, a custodianship license from another jurisdiction, and an established track record.

In other words, a single P.O. Box and some accounting entries won’t cut it anymore to operate in Vanuatu. Our government wants to bring the offshore industry back onshore to spur investment in the country, create jobs, stimulate further development, and support education and training.

Martin St-Hilaire, Chair of the Financial Markets Association of Vanuatu

According to FinTelegram, these stricter license requirements are another step in Vanuatu’s ambition to implement a top-tier financial industry. Vanuatu has upgraded its monitoring and regulatory systems and its legislation to meet global standards and the Financial Action Task Force (FATF).

Read the story on FinTelegram

Social Media And Cryptocurrencies Result In Exploding Cybercrime numbers!

Charlene Lensburg
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Social Media And Cryptocurrencies Result In Exploding Cybercrime numbers!

FinTelegram issued a press release warning against exploding cybercrime numbers due to social media and cryptocurrencies. Scammers find victims for their investment schemes primarily through fraudulent crypto campaigns on Google and social media. Cybercrime organizations combine the power of social media with the new capabilities of cryptocurrencies to build super-efficient cyberfraud machines.

Fraudulent crypto campaigns such as Bitcoin Revolution, Bitcoin Evolution, or Bitcoin Prime present themselves as “get-rich-quickly” means in Google Ads and in ads and posts on social media. Additionally, they include referral systems where customers use a referral link to recruit new customers and receive commissions from the new deposits. This leads to victims victimizing their online friends.

The U.S. Federal Trade Commission (FTC) confirms that Facebook, Instagram, and other social media platforms are a gold mine for online fraudsters. The latest consumer protection data report shows a sharp spike in online fraud schemes, particularly crypto schemes. More than 95,000 U.S. consumers reported about $770 million in losses to fraud initiated on social media platforms in 2021, up from $258 million in 2020. The FTC data suggest that social media was far more profitable to scammers in 2021 than any other method of reaching people.

Thus, since 2017, the number of U.S. victims, as well as their losses in online scams, has increased more than 18-fold. Cybercrime losses initiated on social media account for about 25% of all reported losses to fraud in 2021. Besides social media, crypto-related scams have contributed to the massive surge in fraud reports, the FTC data suggest.

No data is currently available for Europe and Asia for 2021. However, we can assume that the ratio figures also apply to Europe. This means that financial cybercrime powered by crypto and social media is booming. 25% of all online fraud cases in Europe and Asia may also be initiated via the “gold mine” of social media.

Read the story on FinTelegram

Social media queen Kim Kardashian met the Clinton ladies!

Charlene Lensburg
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Social media queen Kim Kardashian met the Clinton ladies!

Social media celebrity and future lawyer Kim Kardashian met with Hillary Clinton and her daughter Chelsea Clinton for a coffee in the Hot & Cool Cafe in Los Angeles. Vanity Fair reports that the cafe is Black-owned, vegan, and hires many formerly incarcerated people and kids. PEOPLE reported that the meeting was tied to Hillary and Chelsea’s upcoming Apple TV+ series Gutsy Women, which is inspired by their best-selling novel The Book of Gutsy Women: Favorite Stories of Courage and Resilience.

The shop and its owners, wife, and husband Tina Amin and Tony Jolly launched the restaurant as a whole-food social center. When the pandemic hit, they launched a food-delivery initiative for seniors in the area. The place has garnered attention from liberal politicians before—Mayor Eric Garcetti and Governor Gavin Newsom have both been customers.

Kardashian supported Clinton in the 2016 election while her former partner Kanye West turned out to be a huge Trump at the time made a big stink about supporting eventual victor Donald Trump.

Read the full story on Vanity Fair

Cathie Wood And The Bulls’ Rubber Band!

Jacob Weizman
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Cathie Wood And The Bulls’ Rubber Band!

Cathie Wood and her Ark Invest ETFs have been the bull face of the stock and crypto hype over the last two years. Amid fears of a tightening monetary regime, Ark Invest is in the midst of its worst drawdown since inception, falling as much as 58% from its record high. But Wood is convinced that the party is far from over. Wood also believes that with the entry of institutional investors, a target price of $500,000 for Bitcoin (BTC) is realistic. It is a real bull!

In an interview with ETF Trends, Cathie Wood gave some advice to the investors who have lost money in her strategy. Wood has often stressed that Ark Invest takes a five-year outlook when it makes investments. With such a steep sell-off in Ark Invest’s holdings amid a period of rising inflation and a hawkish Fed, Wood expects a sharp rebound to unfold.

“What this means is that this rubber band has been stretched so tightly, that we believe, and consider the source, but we truly believe given the valuations in our portfolio, the growth in the portfolio, and the fact that we’re probably looking at very choppy waters from a cyclical point of view so that our secular growers are going to shine,” Wood said.

Investors should take advantage of the potential for a sharp rebound in Ark’s strategies, according to Wood.

Read the story on Business Insider
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