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Reddit Plans “Mass Bitcoin Buy” Today

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Reddit user thadiusb has invited members of the Reddit Bitcoin user community and all other people interested to buy bitcoin for $30 today, on September 7th, when Bitcoin will be recognized as the official payment for the country of El Salvador.

He calculated that if just 3.3 million people from r/Bitcoin support his plan, they will inject $99.5 million into the cryptocurrency market.

Thadiusb stressed this was a way for the crypto community to support the Bitcoin plans of El Salvador and that he does not want to pump up the price of bitcoin.

thadiusb said:

“3,316,862 Members times $30/each means $99,505,860 (give or take depending on currencies used)”

“El Salvador will launch their crypto system at 3PM. I recommend we coordinate for this exact, which is 2PM Pacific time. What are your thoughts?”

“I mean this more as a gesture of support, and not a pump. It’s the first country that has officially used Bitcoin. It is an important time for the cryptocurrency. Lets show El Salvador, and those who are still skeptical about Bitcoin, that it has value for them and everyone else. Bitcoin is meaningful.”

At this writing, the post had gotten over 2000 comments, and 8500 upvotes revealing that the majority backs the idea.

Recall that in June El Salvador passed a bill that recognized bitcoin as the nation’s legal payment currency. The initiative was backed by the Central American Bank for Economic Integration. The bill will then become a law on Sept. 7.

The American operator of crypto ATMs like “Athena Bitcoin” announced their plans to use 1,500 devices within El Salvador. Their installation started in August.

Recently President Nayib Bukele said via Twitter that 200 ATMs will be put into place by the government in addition to an official digital wallet, Chivo. He stated that transactions will be free from commissions and that there will be 50 branches in the nation for deposits and withdrawals.

All transactions will be done through the government managed Chivo app, and there will not be any transaction charges.

Author: Steven Sinclaire

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Boost Your Social Security By 24% By Doing This

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The wonderful thing about Social Security is that it is guaranteed to give you a monthly payment for life. And the bigger that benefit, the better your financial freedom will be during retirement.

Many seniors are sometimes disappointed when they see that their benefits cannot cover all their bills. To be certain, it was never created to replace your paycheck fully. But many people run into issues when they see what their low buying power gets them.

And it is this reason why it pays to do everything you can to get more out of Social Security. And one move could result in a 24% higher benefit.

Want 24% more Social Security?

You might know that you are entitled to your complete monthly Social Security benefit, depending on your personal income history, once you get to the full retirement age, also known as your FRA. FRA is dependent on your birth year, if it was 1960 or after, it is 67.

You are allowed to get benefits before FRA, or after. The earliest you can get Social Security is 62, but for every month you do, your benefits are reduced.

The opposite occurs if you delay your filing for Social Security. For every month you wait, your benefit will go up by around 2/3 of 1%. That means that for every year you postpone your sign up, your benefits will go up by 8%.

Once you get to 70, you can no longer get the delayed retirement benefits that boost your benefits up. But if your FRA is at 67 and you delay your Social Security filing until you are 70, you will get a 24% boost to your monthly income that will stay in place throughout your entire retirement.

Or, to say it another way, if you are entitled to $1,500 per month after 67. Waiting until you are 70 to start social security will give you $1,860 per month instead. That is an annual income increase of $4,320.

If you do not have another source of income that is not Social Security, another $4,320 per year is very important. And even if you don’t have income besides your benefits, another $4,320 per year might mean getting one more vacation every year of retirement, or getting that much more money to use on hobbies and other things.

Author: Scott Dowdy

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Bitcoin On Its Way To Being Replaced

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While bitcoin prices have gone up in value during the past two weeks, bitcoin dominance has gone down to lows not witnessed since the low of 41% on June 6, and the fall to 39.97% on May 16.

Depending on which aggregator looked at, bitcoin’s dominance was between 39.99% to 41.52%. Meanwhile, as the cryptocurrency’s dominance dropped greatly, crypto-asset markets such as ethereum and cardano have seen greater dominance, in terms of total valuation, steadily going up among the 10,000+ coins out there today.

As Bitcoin Goes to 40%, Ethereum Climbs Up the Crypto Ladder

It is well known that after the first bitcoin prices were calculated by market cap, and until Feb. 2017, Bitcoin had over a 80% market dominance compared to other coins, most of the time.

There was one instance in 2014, where Bitcoin lowered to 77.9% in Dec. and again in March of 2016 to 76.42%. After that dip, there were some instances of dominance levels going below 80%, but nothing like what we saw in Feb. 2017.

On Feb. 19, 2017, BTC’s dominance levels went down from 85.4% to a bottom of 37.84% in June of 2017. From here BTC has never managed to go over 80% and in Sept. 2019, it went above the 70% handle but for only for a few days.

On March 1, 2021, Bitcoin again tapped the 70% marker, but has since lost its market dominance yet again. One of the largest markets eating into Bitcoin’s cap is ethereum, which has a 19.4% market dominance as reported by Coingecko stats.

Messari.io says ETH’s value is 19.99% and coinmarketcap.com reports the dominance is 20.1%. Ethereum’s market value is about $460 billion this Sunday, Spe.t 5, 2021. 

During the past 24 hours, these three aggregators reveal that BTC’s dominance has moved between 39.99% to 41.52%.

Bitcoin’s market valuation this Sunday is an aggregate sum of about $940 billion. Other crypto market caps have witnessed massive gains and this has increased their dominance, and more specifically the top ten cryptocurrencies by market capitalization. Today, all top ten coins have 80% of the whole $2.36 trillion crypto economy.

Author: Scott Dowdy

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2 Controversial Stocks You Should Own Before 2022

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It is no longer surprising when United States cannabis companies report a great quarter. The marijuana boom that began during the covid-19 pandemic lifted earnings and revenue for pot companies, and the continuing growth of state marijuana laws has helped this momentum keep going. Though the federal prohibition on marijuana poses some difficulty, that is not preventing these firms from expanding.

Green Thumb Industries and Cresco Labs (OTC:CRLBF) both recently had another great quarter. Let me tell you why I believe these two cannabis stocks are going to be millionaire makers.

 

1. Green Thumb Industries

 

Green Thumb had revenue growth of 85% y/y to $222 million in Q2 which ended June 30. The firm attributed this to its 58 retail stores. Most revenue was from key markets such as Pennsylvania and Illinois, where it has 16 and nine retail stores, respectively.

Illinois, a relatively new market (which legalized usage in Jan. 2020), has given close to $753 million in sales through July. It is on its way to breaking its record of $1 billion in sales last year for the entire year. Illinois being the company’s home state is another advantage. The company also gone into the Virginia cannabis market by buying 100% of cannabis producer Dharma Pharmaceuticals. In July, the state made recreational cannabis legal, but retail sales will not start until January 1, 2024.

The revenue growth also led to the fourth consecutive profitable quarter — reaching $22 million, compared to a $13 million net loss in the year-ago time frame. It left the quarter with cash and cash equivalents of around $359.2 million and total debt outstanding of $198 million. With increasing revenue and profits, it is in a great financial standing to remove its debts. It holds licenses for 111 stores in 14 United States markets.

2. Cresco Labs

 

Cresco has also been benefiting from the growing Illinois cannibas market. Its Q2, which ended on June 30, saw a large 123% y/y increase in revenue to reach $210 million. The company’s revenue, which was produced from 33 stores during this quarter, grew to reach $101 million, which is up 157% y/y. Much of the credit goes to its Sunnyside platform. Cresco has 11 Sunnyside stores in the state of Illinois.

The firm reported adjusted earnings before taxes, interest, depreciation, and amortization, of around $45 million and net income of around $2.7 million for this quarter, compared to the loss of $41 million in the second quarter 2020. Though Cresco does not have a large nationwide presence yet, it is in a stable spot to keep expanding as more states make marijuana legal. It left the second quarter with cash around $131 million and debt of around $189.4 million.

Author: Blake Ambrose

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Top Tech Giant Plans Game-Changing Bitcoin Move

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Some programmers have reversed-engineered Twitter’s incoming update to show that new features, including a new Bitcoin tipping feature is in the works.

Leaks and rumors have suggested that Twitter will be including a new ability to use Bitcoin through its “Tip Jar” feature that allows you pay other people through their app.

A well known leaker and programmer, Alessandro Paluzzi, revealed an image of how the upcoming system will work, which seems like it will be built into into Twitter’s current Tip Jar system that is already available on their cell phone app.

Other reports are from a MacRumors blog post that mentions Twitter’s new beta update. This report claims that Bitcoin is not currently available in the Twitter Tip Jar, but the beta’s programming suggests that it could be soon.

According to the leaker, Twitter will make use of Strike to allow for instant and almost feeless Bitcoin moves through the lightning network. And people who want to use the system would only have to link their Strike accounts to do so.

In the thread that came after Paluzzi’s leak, he reported that he reverse engineered it to effectively allow the feature on his cell phone. While the feature is currently inactive and not usable, he could still see what it looked like.

This is the technique of taking the newer updates files, which are either an .ipa file or an .apk file, and decompiling the software to see which features are actually there inside the beta update.

While it is a more complicated than this, it is usually how leakers discover new features in apps and games before they are released to the public. These sorts of leaks can give a lot of insight and are usually accurate, but it still does not give a complete guarantee that the stuff found will be in the final updates.

Twitter’s CEO and founder, Jack Dorsey, is a big supporter of Bitcoin. The billionaire recently had his second company Square start work on creating a Bitcoin hardware based wallet and he has spoken about and shown interest in mining Bitcoin. Given his support of Bitcoin, it would not surprise us if this rumor about a Bitcoin Twitter feature is reality.

Author: Steven Sinclaire

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Bitcoin Competitor Breaks a Jaw-Dropping Record

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Cardano’s ada cryptocurrency has sky-rocketed on Thursday to go above $3 for the first time ever, after developers started upgrades that will help “smart contracts” be done on its network.

Ada was higher by 7.8% according to Coingecko, to get to $3.04. It earlier reached an all-time high of $3.09.

The digital token also had a stellar go in recent weeks as investors were excited about the huge network upgrades, which was codenamed Alonzo.

Ada’s boost on Thursday morning went along with cardano developer IOHK reporting that the Alonzo upgrades were launched in a test network and that the full launch would be later in September.

The Alonzo upgrades will give the path for smart contracts to be created on the network, possibly making the cardano blockchain an even more attractive one to a wider array of users. A smart contract is a piece of code that allows individuals to enter into financial agreements without a need for a centralized bank or group.

This move might make cardano a bigger rival to ethereum, which already gives smart contracts and has gotten greater institutional investor interest for its large range of possible uses within the financial services.

Cardano developer IOHK revealed on Twitter that: “The Cardano Testnet is now officially supporting Plutus smart contracts. Final tests & integrations are incoming. SPOs will upgrade their mainnet nodes now. Then next… mainnet upgrade. We are still on track for September 12th. Onward!”

Ada is now among the third-biggest cryptocurrency, behind ether and bitcoin, in terms of market capitalization. It is higher by over 130% over the past 30 days and is over 2,300% higher in the past year.

So-called altcoins have gone up sharply in the past weeks, during a larger rebound in the cryptocurrency market that also featured a bitcoin boost. Ether has gone up by over 42% in the past 30 days, according to Coingecko, while XRP has gone up over 68%.

This is at a time when many investing experts are saying the U.S. Dollar is in trouble due to inflation, which was caused, in part, by the Democrats’ large relief programs.

Author: Steven Sinclaire

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Billionaires Are Telling Friends & Family “Invest Here Now!”

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The gold market is struggling to bring in bullish momentum as prices go higher than $1,800; however, the precious metal still has greater support from some billionaire investors.

This week John Paulson, who is the president at Paulson & Co and Mark Mobius, who is the founder of Mobius Capital Partners, both made news for their bullish calls on gold.

During an interview with Bloomberg, Paulson reported that he prefers gold to bitcoin and that Gold looks attractive given the inflationary environment.

“Gold does very well at times where we see inflation,” he said. “The last time it went parabolic was back in the 70s when we saw two years of double-digit inflation.”

Paulson said that gold could go “parabolic” since it is relatively small when compared to the total financial market.

“If you have long-term Treasury bonds that are giving a yield of 2% and interest rates go up to 5%, those bonds go down materially in value. Likewise, if you have USD sitting in a bank account that you are earning 0% on and then inflation is 4%, you are gradually eroding your money,” he stated in his interview.

“As inflation gets worse, people will try to get away from fixed income. They get out of USD. And the logical place where they will go is gold,” he said. “Because the amount of funds to get out of USD dwarfs the total of investable good, the imbalance of supply and demand causes gold to increase and the more it goes up it sort of feeds back on itself and has the possibility to go parabolic.”

Meanwhile, in a different interview with Bloomberg, Mobius reported that investors should keep 10% of their portfolio inside gold.

He said that he also views the value of gold as being purchasing power of fiat continues to go down.

“Currency devaluation globally will be quite significant over the next year given the great amount of money supply that was printed,” he stated. “It will be very, very good to own physical gold that you can get to immediately without any danger of the government confiscating this gold.”

Author: Blake Ambrose

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Invest Now: 2 AI Stocks That Own The Future

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Think about what the internet did for business. A single merchant, no matter how small they are, can use it to sell goods to the greatest corners of the world. It’s a level of reach that someone can scale an idea into a large company.

But we are at the next revolution. Built on the foundations of the internet, AI is picking up the labor-intensive businesses the web left behind, and pushing them into the digital world.

Here are two companies using this new tech to conquer old problems and redefine their sectors.

1. Carvana

Most of us have purchased a car the normal way. You go to a dealership and talk about your needs with a salesperson and eventually get a loan. The internet moved this process online, giving free information and a digital process to speed up purchases.

But AI takes this further. Famous for its huge car vending machines, digital used car dealer, Carvana  sold over 100,000 cars in the last quarter and has pushed itself into the second spot among America’s largest dealers.

The company takes advantage of AI to constantly look at car auctions to find the hottest-selling cars, then it purchases those models for its inventory. It is a surefire way to have the cars that people want. Also, if you want to sell your vehicle, you can give the app your license plate or VIN and you will get an offer within 15 minutes. This is possible thanks to the company’s machine learning and data.

The company also schedules the delivery or pickup of vehicles. It’s obvious that consumers like the idea as revenue has skyrocketed in recent years. In just the initial half of 2021 Carvana moved 200,272 vehicles, almost as much as the 244,111 it moved during the entire year in 2020.

2. Splunk

Splunk says it is the data-to-everything platform, and it means this literally.

Splunk can process enormous amounts of data in real-time to give you just about any info you need. Consider working for a Formula 1 racing team. Try to imagine the amount of information a Formula 1 car might reveal during a race — you probably can’t think of this, there is so much. Splunk can put all of this on a nice display and give your team performance enhancements or draw your attention to possible problems.

This is happening right now through Splunk’s partnership with the McLaren racing team.

Splunk’s system is made possible thanks to machine learning and AI. As more companies go online, they will be surprised by the mountains of data they are suddenly dealing with. This will lead them to needing Splunk’s services.

The company currently serves 91 of the Fortune 100 companies and it is delivering some strong growth with an annual compound rate of 47.9% since 2019. While the company is not profitable yet since it is investing into its business, it can be considered to be a great long-term play.

Author: Steven Sinclaire

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This Overlooked Utility Stock Is A Dividend King

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Whether it is using stocks, ETFs, bonds or other types of investments, all investors love watching their portfolios get big returns. But when you are an income investor, your main focus is creating consistent cash flow from all of your liquid investments.

Cash flow comes from bond interest, interest from other kinds of investments, and of course, dividends. A dividend is a company distribution of its earnings given to shareholders; it is often seen as a dividend yield, a metric that determines a dividend as a percent of the company’s stock price. Many academic studies reveal that dividends are a significant portion of long-term returns, with dividends exceeding one-third of overall returns in many situations.

Sempra’s Dividend In Focus

Based in California, Sempra is in the Utilities industry, and so far this year, has seen a price shift of 3.89%. Currently giving a dividend of $1.1 a share, the firm features a dividend yield of 3.32%. In comparison, the average yield for its industry is 3%, while the S&P 500’s average yield is only 1.39%.

Looking at the dividend growth, the firm’s current annualized dividend of $4.40 is higher by 5.3% from last year. Sempra has grown its dividend 5 times on a y/y basis over the past 5 years for an average annual boost of 8.23%. 

Looking to the future, the company’s dividend growth will be need earnings growth and a payout ratio, which is the amount of a company’s annual eps that it gives out as a dividend. Sempra’s payout ratio currently is 56%. This means it gave out 56% of its trailing 12-month EPS as a dividend.

The company is expecting earnings to increase this fiscal year too. With some estimates for 2021 expecting $8.13 a share, which means a year-over-year growth of 1.25%.

What’s The Bottom Line?

From greatly helping investing profits and lowering overall risks to giving tax advantages, investors love dividends for many different reasons. However, not all stocks give quarterly payouts.

With this in mind, Sempra is a great investment opportunity. It has a great dividend pay out and the stock is in a very stable industry.

Author: Scott Dowdy

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Can You Retire On Bitcoin Alone?

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Cryptocurrency is among the latest phenomena inside the investing world, and some investors have made millions from it by investing early.

Over the last year, the value of Bitcoin has gone up by over 300%. Despite having fallen over the previous couple of months, its price is increasing yet again — making it an appealing possibility for people looking to jump-start their retirement.

Because Bitcoin has experienced this explosive growth, it might be tempting to put all of your life savings into the cryptocurrency in order to retire wealthy. But is this really the right move?

Is Bitcoin a good retirement option?

For most investors, personal savings will are the majority of their income within retirement. Social Security benefits were created to replace only about 40% of your income, and unless you get access to a pension or another source of income, the rest will have to come from savings.

And since you’ll probably depend on your savings in retirement, it’s crucial that your investments are stable. For this reason, retiring on only Bitcoin alone can be very risky. Bitcoin is known for its volatility, and it’s even went down over 80% in value at one time. While everyone has a different acceptance of risk, few retirees could sleep knowing their savings would possibly plummet by 80% or more in a short duration of time.

How to Invest in Bitcoin and keep your retirement safe

If you are eager to get into cryptocurrency, there is nothing wrong with that. But there are safe ways to do this that don’t involve risking your financial future.

First, make sure you are investing only the small portion of money that you can afford to lose. Exactly how much you put in will depend on your financial circumstances and risk tolerance, but it should not be so much that you will struggle to pay your bills if you lost your whole investment.

Next, check that your entire portfolio is well diversified. By spreading your money among many stocks and multiple industries, your entire portfolio won’t be as affected if Bitcoin does not perform well.

Finally, invest in Bitcoin only if you think it has long-term possibility. Investing is not a “get rich quick” plan, and it’s almost impossible to bring in millions with just one investment. But if you believe Bitcoin has a good long term value and are willing to keep your investments for decades or years even with volatility, you could make a lot of money doing this.

Author: Scott Dowdy

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