Currency

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It’s Not a “Real” Truck

 

I just bought a new truck. My 2013 Ford Focus (with requisite 5 speed Millennial Anti-Theft Device) couldn’t keep up with the rigors of my 3/4 mile trek to pavement multiple times a day.

It was time to get something out of it before it began costing me real money, as much as I loved that car.

No matter what I did I was going to buy as little car as I could because vehicle prices are scandalous, a by-product of the Fed’s insane policies creating cost-push inflation for everything people actually need while denying it’s having any ‘real’ effects.

That ‘real’ thing is important and I’ll keep coming back to it.

I live back a dirt road that gets ugly in the wet Florida summer. I have a small farm and a teenage daughter. Goats, Ducks, Dogs and a wife earning a Bachelor’s in food foresting and permaculture.

I need a pickup truck and one that hauled three people in reasonable comfort. I have a farm truck I no longer want, a true 2005 piece of hot garbage made by Chevy called a Colorado that has negative value. Plates and insurance alone are more than the truck is worth to me.

Cheap paid-for vehicles that cost you time are not an asset, they are a liability that only compounds as they age. Getting rid of both the Focus and the Colorado and combining them into one vehicle was a good value proposition.

And at these financing rates and the state of my business I could more than afford to treat myself after years of fiscal discipline.

So, what did I buy?

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The mainstreaming of crypto assets continues apace

 

S&P Dow Jones Indices — home to the ubiquitous S&P 500 — just launched 3 crypto indexes: 1) a Bitcoin index; 2) an Ethereum index; and 3) an index that includes both.

Of the 2 assets, Ethereum is currently on the hottest run: up ~2x over the past 6 weeks to a market cap of $380B+.

Not to be outdone, Dogecoin — which started out as a joke — continues to hit record highs, up more than 100x year-to-date.

In a particularly absurd stat, if someone had invested all 3 US stimulus checks into Dogecoin… this is how much they would have:

 

How Texas Is Becoming A Mecca For Bitcoin Miners

Access to unique power sources and friendly regulations are driving bitcoin mining companies to set up shop in Texas.

Texas might seem like an unlikely mecca for large scale bitcoin mining operations. Although energy prices in Texas are relatively cheap — a big draw for miners — the state’s reserve margins are almost nonexistent, as was demonstrated by a recent ice storm that left some homes and businesses without power for up to four days.

And when it comes to the cryptocurrency mining community, It’s hard to know exactly who’s located where and what exactly they’re mining. But there’s lots of anecdotal evidence that a significant bitcoin industry move to Texas is afoot. Bitcoin mining companies like Bitmain, Blockcap, Argo Blockchain, Great American Mining, Layer1, Compute North, Riot Blockchain and Whinstone are just a few of the major industry players that have chosen to set up shop in the Lone Star State.

The Bitcoin Mining Energy Dynamic In Texas

Compared to many U.S. states, Texas energy rates are inexpensive, although there are a few states that are slightly cheaper.

This is still a strong selling point for bitcoin miners, but energy supply problems, with no end in sight as the population of Texas grows, is a potential problem.

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Ethereum price hits $3.5K record as Winklevoss exchange adds Dogecoin

 

Gemini follows eToro in integrating Dogecoin as Ethereum underscores altcoins’ Bitcoin-crushing surge.

Ethereum doesn’t stop at $3,500

Data from Cointelegraph Markets Pro and Tradingview followed ETH/USD as the pair broke through its latest historic boundary and continued climbing.

At the time of writing, the largest altcoin by market cap was in pure price discovery mode as it sought resistance above $3,500.

The week had already seen new highs for Ether price on a daily basis, with seven-day gains standing at 36%.

Among analysts and traders alike, the sense of excitement on the day was palpable.

“I have been calling for $3600 $ETH for well over a month, but think it can go much higher,” Scott Melker told Twitter followers.

Short-term price targets had called for $5,000 while zooming out, $10,000 and even $20,000 were not unheard of as Ether outperformed Bitcoin in dollar gains throughout the past year.

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