This Gene Is a Molecular "Knob" That Fine-tunes Our Cortex’s Electrical Activity – Technology Networks

It works like a very fine "molecular knob" able to modulate the electrical activity of the neurons of our cerebral cortex, crucial to the functioning of our brain. Its name is Foxg1, it is a gene, and its unprecedented role is the protagonist of the discovery just published in the journal Cerebral Cortex.

Foxg1 was already known for being a "master gene" able to coordinate the action of hundreds of other genes necessary for the development of our anterior central nervous system. As this new study reports, the "excitability" of neurons, namely their ability to respond to stimuli, communicating between each other and carrying out all their tasks, also depends on this gene. To discover this, the researchers developed and studied animal and cellular models in which Foxg1 has an artificially altered activity: a lack of activity, as it happens in patients affected by a rare variant of Rett Syndrome, which leads to clinical manifestations of the autistic realm; or an excessive action, as in a specific variant of the West Syndrome, with neurological symptoms such as serious epilepsy and severe cognitive impairment. As deduced by the scientists in the research, the flaw in the "knob" lies in an altered electrical activity in the brain with important consequences for the entire system, similar to what happens in the two syndromes mentioned.

Shedding light on this mechanism, say the researchers, allows to understand more deeply the functioning of our central nervous system in sickness and in health, a fundamental step to assess possible future therapeutic interventions for these pathologies. What has just been published is the latest in a series of three studies on the Foxg1 gene, recently published by the researchers of SISSA on Cerebral Cortex. It is the result of a project begun more than five years ago, which saw the team of Professor Antonello Mallamaci of SISSA in the front line with researchers of the University of Trento and the Neuroscience Institute of Pisa, with the support of the Telethon Foundation, of the Fondation Jerome Lejeune and of the FOXG1 Research Foundation.

"We knew that this gene is important for the development of the anterior central nervous system" explains the Professor Antonello Mallamaci of SISSA, who has coordinated the research. "In previous studies we had already highlighted how it was involved in the development of particular brain cells, the astrocytes, as well as the neuronal dendrites, which are part of the nerve cells that transport the incoming electrical signal to the cell. The fact that it had mutated in patients affected by specific variants of the Rett and West Syndromes in which we see, respectively, an insufficient and excessive activity of this gene, made us explore the possibility that its role was also another. And, from what has emerged, it would appear that way".

According to the study, the activation of the electrical activity of Foxg1 follows a positive circuit. Professor Mallamaci explains: "If the gene is very active there is increased electrical activity in the cerebral cortex. In addition, the neurons, when active, tend to make it work even harder. One process, in short, feeds the other. Obviously, in normal conditions, the system is slowed down at a certain point. "If, however, the gene functions abnormally, or it is found in a number of copies other than two, as it happens in the two syndromes above, the point of balance changes and the electrical activity is altered. All this, in addition to making us understand the mechanisms of the pathology, tells us that Foxg1 functions precisely as a key regulator of the electrical activity in the cerebral cortex".

The next step, explains the professor, will be to understand the role of the mediating genes, namely of some of the many genes whose action is regulated by the master gene Foxg1. This analysis is important to understand in more detail how this gene works under normal and pathological conditions.

Understanding the molecular mechanisms that Foxg1 controls is also important to study what could be the targets on which to intervene for possible therapeutic approaches. "Given that finding a therapy for these illnesses is very difficult, working so in depth you might find, for example, that most problems are caused precisely by some of the "operators" that Foxg1 regulates. And that we should therefore focus our attention on these goals, rather than on the master gene, maybe using drugs that already exist and have been seen to be useful in remedying those specific flaws". In the case of a future approach that would instead correct the anomalies of the FOXG1 gene with the gene therapy, explains Professor Mallamaci, "it is necessary to understand when to intervene, namely from what moment on the pathological effects due to the mutation of this gene become irreversible. To replace the flawed copy with the correct one, it is necessary to intervene before that moment, which might suppose you would have to make a prenatal gene diagnosis and treatment". "The next steps we will take", concludes Professor Mallamaci "will be directed precisely in the direction of a deeper understanding of all these aspects".

Reference: Tigani, W., Rossi, M. P., Artimagnella, O., Santo, M., Rauti, R., Sorbo, T., Ulloa, F. P. S., Provenzano, G., Allegra, M., Caleo, M., Ballerini, L., Bozzi, Y., & Mallamaci, A. (n.d.). Foxg1 Upregulation Enhances Neocortical Activity. Cerebral Cortex. https://doi.org/10.1093/cercor/bhaa107

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This Gene Is a Molecular "Knob" That Fine-tunes Our Cortex's Electrical Activity - Technology Networks

Can gene therapy help develop coronavirus vaccine? Researchers banking on this technology for breakthrough – MEAWW

As the world continues to battle the coronavirus pandemic, scientists are looking towards gene therapy to find ways to develop vaccines for the Covid-19 virus. Gene therapy itself was developed based on how viruses work.

When a virus attacks a host, it introduces its genetic material into the host cell as part of its replication cycle. The genetic material serves as an instruction manual on how to produce more copies of the virus, hijacking the host body's normal production machinery to serve the needs of the virus. The host cells then produce additional copies of the virus, leading to more host cells being infected.

Like animals, humans have found a way to domesticate viruses as well, i.e., direct the virus's function to achieve favorable results, which is prominent in gene therapy. Such viruses which physically insert their genes into the host's genome could instead be used to carry "good" genes into a human cell. Scientists would first remove the genes in the virus that cause diseases, and replace those genes with genes encoding the desired effect.

All of this sounds quite sci-fi but it has been done numerous times in the past. Peter Kolchinsky, a virologist and a biotechnology investor, compiled how different viruses have been used for gene therapy in the past.

Kolchinsky tweeted, "SARS2 is a scary menace, but did you know that we've domesticated viruses? Like wolves vs dogs, we've tamed them, including some deadly ones, to perform many useful functions (and may help us stop SARS2)."

The human immunodeficiency virus (HIV) has killed millions of people. It works by disabling the host body's immune system until it can't defend the person against common, normally mild pathogens. Kolchinsky explained that HIV's special trick is to integrate its genome into that of the host body's cells.

This feature of HIV is used for gene therapy, as explained before, by replacing a chunk of the virus's genome with the hemoglobin gene to insert it into bone marrow stem cells of patients with sickle cell anemia, whose hemoglobin genes are malfunctioning.

Kolchinsky also tweeted, "Adenoviruses typically cause mild infections, including common colds. These, too, we are trying to use for gene therapies, particularly when we just want to temporarily make a protein in cells. One company is developing such an adenovirus gene therapy for heart disease to induce growth of new blood vessels when old ones are clogged. Another is using this virus to make oral vaccines that would otherwise require injection (eg flu vaccine pill). When we use a virus to deliver code for making something in cells, we call that a virus vector."

There is now a wealth of clinical experience with numerous vector types that include primarily vaccinia, measles, vesicular stomatitis virus (VSV), polio, reovirus, adenovirus, lentivirus, -retrovirus, adeno-associated virus (AAV) and herpes simplex virus (HSV).

However, as with all other procedures, viral vector-gene therapy has associated risks. Viruses can usually infect more than one type of cell, so, when viralvectorsare used to carrygenesinto the body, they might infect healthy cells as well as cancer cells.

Another danger is that the new gene might be inserted in the wrong location in the DNA, possibly causing harmful mutations to the DNA or even cancer. Moreover, when viruses are used to deliver DNA to cells inside the patient's body, there is a slight chance that this DNA could unintentionally be introduced into the patients reproductive cells. If this happens, it could produce changes that may be passed on if a patient has children after treatment.

One study to help find a vaccine for Covid-19 aims to use the principles behind gene therapy to get the vaccine ready. The researchers' method uses a harmless virus as a vector to bring DNA into the patient's cells. The DNA should then instruct the cells to make a coronavirus protein that would stimulate the immune system to fight off future infections.

While a mass-produced vaccine may still take a while, this study is one of at least 90 vaccine projects around the world trying to find a cure for Covid-19. However, some experts are worried that a vaccine may never be available. According to our previous report, Dr David Nabarro, a professor of global health at Imperial College London, who also serves as a special envoy to the WHO on Covid-19, said, "There are some viruses that we still do not have vaccines against."

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Can gene therapy help develop coronavirus vaccine? Researchers banking on this technology for breakthrough - MEAWW

Gene Therapy for Rare Disease Market 2020 Coronavirus (Covid-19) Business Impact 2026 Growth Trends by Manufacturers, Regions, Type and Application,…

A new business intelligence report released by CMI with the title Global Gene Therapy for Rare Disease Market Research Report 2020-2027 is designed covering micro level of analysis by manufacturers and key business segments. The Global Gene Therapy for Rare Disease Market survey analysis offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing.

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Gene Therapy for Rare Disease Market 2020 Coronavirus (Covid-19) Business Impact 2026 Growth Trends by Manufacturers, Regions, Type and Application,...

Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion – Bitcoin News

On May 7, the decentralized finance (defi) startup General Protocols revealed the team has raised over $1 million from investors. The creators of General Protocols have introduced innovative projects on the Bitcoin Cash network such as Anyhedge, and have also participated in helping forward the Bitcoin Cash Node (BCHN) project and Flipstarter.cash.

The BCH community was pleased to hear that a startup dedicated to the Bitcoin Cash blockchain and decentralized finance (defi) has raised $1 million this week. The company called, General Protocols, is behind the Anyhedge project which is a blockchain-enforced synthetic derivatives protocol for Bitcoin Cash (BCH). News.Bitcoin.com reported on the project during the first week of April. According to the teams press release, the latest funding stems from the cryptocurrency trader Marc De Mesel and a variety of other investors. The team is thrilled to get funding to push the startups goals forward in order to deliver defi to the BCH community.

We are delighted that aligned investors are supporting us in our vision to bring defi to Bitcoin Cash, said John Nieri a.k.a. emergent_reasons, President of General Protocols. We are building a team of dedicated supporters of peer to peer electronic cash here at General Protocols.

General Protocols team members helped with the construction of Flipstarter.cash, a noncustodial fundraising platform. Additionally, the startup also volunteered efforts toward the new Bitcoin Cash full node implementation called BCHN. The project Anyhedge aims to be the first defi protocol on any branch of Bitcoin and the platform will launch in cooperation with Cryptophyls new noncustodial exchange, Detoken.

Further two former Bitcoin.com team members Marcel Chuo and Rosco Kalis have joined the General Protocols company. Kalis is well known for his work on the Cashscript protocol in order to create a new generation of smart contracts on the Bitcoin Cash network. Chuo will handle business relationships and his background includes global expansion and coordinating with well known tech firms like HTC. During the investment announcement for $1 million into General Protocols infrastructure, Kalis said he looks forward to working on the blockchain-enforced synthetic derivatives protocol for Bitcoin Cash.

Im excited to be working on Anyhedge with the great team at General Protocols, Kalis explained during the announcement.

What do you think about the $1 million dollar investment into General Protocols? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, General Protocols, Anyhedge

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion - Bitcoin News

Bitcoin Cash Price Analysis: BCH Broke The Crucial Resistance At $280, Wheres The Bottom? – CryptoPotato

Key Resistance Levels: $279, $300, $322

Key Support Levels: $236, $215, $200

Bitcoin Cash saw a slight daily increase following a nice recovery from $236 this week, although the gain is still mild compared to the recent $1000 surge in Bitcoins price (from $9000 $10000).

While most of the top cryptocurrencies created a new 7-week high, Bitcoin Cash is still struggling below the mid-March drop level of $280 where the grey supply zone lies in the above price chart.

Buyers appeared to be stepping back in the market following the latest positive moves. The double-bottom pattern around $236 is also an indication of a potential price increase.

BCH might see a massive price growth once the bulls manage to conquer the grey supply zone. However, the price may remain trapped if it continues to suppress bullish actions. As of now, Bitcoin Cash is starting to show strength and currently priced around $270 against the US Dollar.

Following this weeks bullish trajectory from $236 to a current price of around $270, BCHs next target lies at $279. A successful cross above the $280 level should send price straight to $300 and $322 resistance.

As can be seen on the graph, Bitcoin Cash is relying on the green trend line. In case of a breakdown, the first level to watch for is $236 (the weekly support), followed by $215 support. The price may roll to $200 if the selling volume continues to increase.

Key Resistance Levels: 0.030 BTC, 0.0325 BTC

Key Support Levels: 0.0248 BTC, 0.022 BTC

After finding a bottom in March, Bitcoin Cash saw a decent 34% recovery to reach 0.038 BTC level on April 8 before the price got rejected. It is now trading at around 0.0275 BTC.

In fact, Bitcoin Cash is now around the green line of the 0.0275 BTC support that got broken down during the mid-week. The recovery is likely to become significant if the bulls push higher. Considering the latest positive developments, BCH bulls appear to be showing a lot of commitment to the upside. However, the buying pressure could end soon.

If Bitcoin Cash manages to find support at the immediate green trend line, more bullish action could be expected soon. The bears are likely to resume pressure if the level fails to hold.

Bitcoin Cash recovery above Marchs low is now providing buyers with more opportunities in the market. The resistance to watch above this line is 0.0325 BTC, marked grey. Its also important to keep an eye on the key level of 0.030 BTC along the way to confirm more gains.

For a bearish continuation, the level to watch here is 0.0275BTC. If it fails to act as support for Bitcoin Cash, the price may roll back to 0.024 BTC.

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Bitcoin Cash Price Analysis: BCH Broke The Crucial Resistance At $280, Wheres The Bottom? - CryptoPotato

The Crypto Daily Movers and Shakers -11/05/20 – Yahoo Finance

Bitcoin tumbled by 8.55% on Sunday. Following on from a 2.66% fall on Saturday, Bitcoin ended the week down 2.01% at $8,722.2

A particularly bearish start to the day saw Bitcoin tumble from an intraday high $9,559.0 to a first-hour intraday low $8,101.0.

Bitcoin slid through the days major support levels before partially reversing losses from the first hour.

A move back through to $8,900 levels saw Bitcoin break back through the third major support level at $8,761.93.

The partial recovery was short-lived, however. Through the 2nd half of the day, Bitcoin fell back to $8,500 levels before briefly revisiting $8,800 levels.

A final hour pullback saw Bitcoin slip back through the third major support level.

The near-term bearish trend, formed at late June 2019s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

Across the rest of the majors, it was also a bearish end to the week for the pack.

Bitcoin Cash ABC and Bitcoin Cash SV led the way with losses of 12.08% and 12.65% respectively.

EOS (-11.00%), Ethereum (-10.63%), Litecoin (-10.22%), Stellars Lumen (-10.00%), and Trons TRX (-10.77%) also saw particularly heavy losses.

Binance Coin (-8.30%), Cardanos ADA (-7.17%), Moneros XMR (-7.02%), Ripples XRP (-8.68%), and Tezos (-8.95%) saw more modest losses.

For the week ending 10th May, Sundays reversal left the majors in the red.

EOS led the way down, with a 13.83% tumble.

Binance Coin (-10.44%), Bitcoin Cash SV (-11.81%), Ethereum (-10.71%), Litecoin (-12.48%), Ripples XRP (-10.06%), Stellars Lumen (-12.28%), and Trons TRX (-10.50%) werent far behind.

Bitcoin Cash ABC (-7.01%), Cardanos ADA (-3.05%), Moneros XMR (-5.75%), and Tezos (-6.90%) saw more modest losses in the week.

Through the week, the crypto total market cap rose from a Monday low $240.56bn to a Friday week high $271.32bn before Sundays meltdown. On Sunday, the total market cap slumped to a week low $230.79bn before support kicked in. At the time of writing, the total market cap stood at $241.12bn.

Bitcoins dominance rose from 65% levels to hit 68% levels on Friday before sliding back. At the time of writing, Bitcoins dominance stood at 67.0%.

24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Sunday high $209.17bn. At the time of writing, 24-hr volumes stood at $192.66bn.

At the time of writing, Bitcoin was up by 0.38% to $8,755.1. A bullish start to the day saw Bitcoin rise from an early morning low $8,721.2 to a high $8,800.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was also a bullish start to the day. Bitcoin Cash ABC and Moneros XMR were up by 1.86% and by 1.91% respectively to lead the way.

Bitcoin would need to break back through to $8,800 levels to bring the first major resistance level at $9,487.13 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,000 levels.

Barring a broad-based crypto rally, resistance at $9,000 would likely pin Bitcoin back on the day.

In the event of rebound, the first major resistance level would likely limit any upside on the day.

Story continues

Failure to break back through to $8,800 levels could see Bitcoin fall back into the deep red.

A fall through back through the morning low $8,721.2 would bring the first major support level at $8,029.13 into play.

In the event of another extended sell-off, the 38.2% FIB of $7,730 could come into play

Bitcoins halving event, expected within the next 24-hours, contributed to the recent volatility. Profit taking ahead of the event led to Sundays reversal. It remains to be seen if Bitcoin can avoid a retracement to the March swing lo $4,000. Late support on Sunday and early this morning suggests so, but avoiding sub-$8,000 levels will be key.

This article was originally posted on FX Empire

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The Crypto Daily Movers and Shakers -11/05/20 - Yahoo Finance

The Crypto Daily Movers and Shakers -09/05/20 – Yahoo Finance

Bitcoin fell by 1.88% on Friday. Partially reversing a 9.06% rally from Thursday, Bitcoin ended the day at $9,792.4.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $10,025 before hitting reverse.

Falling short of the first major resistance level at $10,340.07 and 62% FIB of $10,034, Bitcoin slid to a mid-morning intraday low $9,705.0.

Steering clear of the first major support level at $9,324.07, Bitcoin bounced back to $10,000 levels before a late slide.

Falling short of the 62% FIB of $10,034, Bitcoin slid back to $9,700 levels to end the day in the red.

The near-term bearish trend, formed at late June 2019s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

Across the rest of the majors, it was a mixed day for the pack on Friday.

Bitcoin Cash ABC rose by 2.71% to lead the way.

Binance Coin (+0.53%), Bitcoin Cash SV (+0.91%), Cardanos ADA (+1.19%), Litecoin (+0.65%), Stellars Lumen (+0.41%), Tezos (+1.14%), and Trons TRX (+1.10%) also saw green.

It was a bearish day for the rest, however, with Moneros XMR sliding by 3.52% to lead the way down.

EOS (-0.64%), Ethereum (-0.43%), and Ripples XRP (-0.05%) also joined Bitcoin in the red.

Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Friday high $271.32bn. At the time of writing, the total market cap stood at $269.10bn.

Bitcoins dominance held onto 65% levels following Mondays modest loss, before the mid-week breakout that delivered 68% levels. At the time of writing, Bitcoins dominance stood at 67.5%.

24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Friday high $205.18bn. At the time of writing, 24-hr volumes stood at $168.77bn.

At the time of writing, Bitcoin was up by 0.93% to $9,883.6. Bitcoin fell to an early morning low $9,723.3 before striking a high $9,876.6.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was another bullish start to the day for the rest of the majors.

Binance Coin and Bitcoin Cash ABC led the way early on, with gains of 1.52% and 1.54% respectively.

Bitcoin would need to avoid sub-$9,840 levels to bring the first major resistance level at $9,976.6 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,876.6.

Barring a broad-based crypto rally, the first major resistance level would likely leave Bitcoin short of the 62% FIB.

In the event of another breakout, the second major resistance level at $10,160.8 would come into play.

Failure to avoid sub-$9,840 levels could see Bitcoin struggle on the day.

A fall through back through the morning low $9,723.3 would bring the first major support level at $9,656.6 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$9,700 levels.

This article was originally posted on FX Empire

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The Crypto Daily Movers and Shakers -09/05/20 - Yahoo Finance

Paul Tudor Jones calls bitcoin a ‘great speculation,’ says he has almost 2% of his assets in it – CNBC

Longtime hedge fund manager Paul Tudor Jonestold CNBC on Monday that Wall Street could be witnessing the historic "birthing of a store of value" through popular cryptocurrency bitcoin.

"It's a great speculation," Jones said on "Squawk Box."

He said he has "just over 1% of my assets in bitcoin. Maybe it's almost 2. That seems like the right number right now."

"Every day that goes by that bitcoin survives, the trust in it will go up," he added.

Jones, founder and chief executive at Tudor Investment and largely considered one of the best macroeconomic traders ever, told investors in a recent letter that he's betting on bitcoin as part of a far-larger strategy of maximizing profits.

For investors who have followed Jones' success in predicting the path of economic events, including his prescient bets against the U.S. stock market in 1987, his foray into cryptocurrency may seem unusual. But Jones defended his new investment, especially versus other stores of value like U.S. dollars.

Modern government-backed currencies, he argued, will almost always diminish in value over time. Many investors shy away from cash over the long term as legislatures continue to spend more than they generate in revenues and lean on central banks to pump cash into the economy, decreasing the purchasing power of each individual dollar.

"If you take cash, on the other hand, and you think about it from a purchasing power standpoint, if you own cash in the world today, you know your central bank has an avowed goal of depreciating its value 2% per year," Jones said. "So you have, in essence, a wasting asset in your hands."

Bitcoin, on the other hand, isn't subject to the whims of government spending, but is itself risky because it's only 11 years old, Jones said.He also confirmed that he has a portion of his portfolio invested in gold, a popular inflation hedge, and said he thought the metal could go "substantially higher" if inflation spikes.

"When I think of bitcoin, look at it as one tiny part of a portfolio. It may end up being the best performer of all of them, I kind of think it might be," he said. "But I'm very conservative. I'm going to keep a tiny percent of my assets in it and that's it. It has not stood the test of time, for instance, the way gold has."

Jones also said Monday that the economy would be in a "Second Depression" if the coronavirus pandemic doesn't get contained in a year.

The investor told CNBC in late March that the stock market could shoot higher by June if Covid-19 cases began to peak. The S&P 500 is up more than 15% since those comments on March 26 and the Nasdaq Composite has since turned positive for 2020.

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Paul Tudor Jones calls bitcoin a 'great speculation,' says he has almost 2% of his assets in it - CNBC

Dollar Vigilante Founder Talks Covid-19 and Economic Crisis: ‘The Modern Financial System Is at the End of It’s Rope’ | Interview – Bitcoin News

Jeff Berwick is an entrepreneur with a lot to say these days and hes released a number of videos discussing the coronavirus pandemic and the government-induced lockdowns. Berwick is the founder of The Dollar Vigilante, an anarcho-capitalist media outlet focusing on gold, silver, mining stocks, cryptocurrencies, and offshore banking. News.Bitcoin.com chatted with Berwick this week in order to get his perspective on the current events tied to the Covid-19 outbreak, the stay-at-home orders, the financial turbulence, and what he envisions will happen next. Berwick chats about precious metals like gold, his thoughts on a few digital assets, and the concept of self-ownership. He believes that humans are faced with a choice Either continue down the nasty road of manipulation and fraud or break the invisible chains of subordination and authority figures.

Bitcoin.com (BC): Can you tell our readers your thoughts on the Covid-19 pandemic, the government lockdowns, and the media surrounding this event?

Jeff Berwick (JB): To put it bluntly, there is no pandemic. Even if you take the numbers given out by the WHO and CDC, which are absolutely not to be trusted, this supposed pandemic has fewer hospitalizations and less deaths than even the 2017-2018 flu seen. Ive been researching and following the activities of what you could call the elite or globalists for nearly two decades and this has been long planned for as a type of false flag event in order to bring in a dozen or more globalist agendas.

BC: Your recent videos have been raising awareness about certain elements of the pandemic that are not natural. Would you say that the central banks and politicians are in the midst of a financial reset?

When I started The Dollar Vigilante in 2010, I said that by the end of this decade the financial and monetary system would be in collapse. I even began predicting last summer when I saw the first signs of it hitting that it would happen in days, weeks, or months. The modern monetary and financial system has reached the end of their rope. The entire world, whether it be governments, businesses, or individuals are beyond the point of no return in terms of indebtedness. I believe the pandemic, which I call a plandemic was all a part of collapsing the system and blaming it on anything but the real culprits, governments, and central banks. In many ways, the 2020 crisis is no different from 9/11 which was a pre-orchestrated and planned false flag event to crash the system and bring in a massive reduction in civil liberties that continue on to this day.

BC: Do you think that the lockdown or stay-at-home measures are deliberate in order to halt the economy and the supply chain?

Yes. The Rockefeller Institute, in 2010, after David Rockefeller had met with Bill Gates and George Soros in something they called the Good Club. They put out a document called Lockstep which outlines using a virus pandemic scenario to bring in worldwide totalitarian control, break down the supply chains and essentially bankrupt most of the world and have them all go on Universal Basic Income (UBI) and become not much more than destitute slaves much like in places like Cuba and Venezuela.

BC: If you were to give a timeline in months or years, how long do you think the USD will last as the globally dominant fiat currency?

Its really just a race to the bottom now for all fiat currencies. Nearly every government in the world is beyond bankrupt and nearly every central bank in the world is counterfeiting up trillions of new fiat currency units at unprecedented rates which all but ensures a total collapse in them all. This too is part of the plan as they intend to destroy nearly every governments finances and hyperinflate all the currencies in order to bring in a one-world, digital currency which will track, and tax, every single thing that people do with it. As for the timeframe, it depends on a lot of factors.

But we are talking just a few years likely. I see hyperinflation coming to nearly all fiat currencies in the next few years. Hopefully a lot more people begin using cryptocurrencies now. If so, many can avoid the total destruction coming.

BC: Equities, commodities, oil, and many other investments have pretty much crapped the bed or are on life support. However, Bitcoin has done surprisingly well since Black Thursday March 12. In fact, it has performed better than any asset or equity since then. Where do you see bitcoin (BTC) going from here price wise or as far as a safe haven asset like gold?

As I said earlier, I was expecting this crisis and had told all our Dollar Vigilante subscribers (you can subscribe here) to expect a crisis of never before seen proportions at any moment now. I also told them to lighten up on our favorites, cryptocurrencies, and precious metals, as I said they would go down in the initial stages of the crisis. I stated in a number of speeches and videos over the last year that I expected bitcoin could hit a bottom near $4,000 during that crisis. And, that is almost exactly where it hit. We then pounded the tables to buy. As you pointed out, it has done incredibly well since and has proven itself as a type of safe-haven asset now. As for where it goes from here? Itll be volatile but with every central bank printing fiat currency like Zimbabwe now, precious metals and the best cryptocurrencies will skyrocket over the coming months and years in nominal terms and will do very well compared to almost anything else in real terms.

BC: BTC specifically has issues with fees, do you see other bitcoin branches or alternative cryptocurrencies doing well during a global economic depression?

I have been one of Bitcoin Core (BTCs) biggest critics of the way in which it was so slow to adapt to increased usage, particularly back in 2017 when transaction times would sometimes take days and transaction fees would sometimes be over $100. But, things have improved a lot since then. I have some doubts and issues with Segwit and the Lightning Network but I am waiting to see how that plays out. Ive said since the original Bitcoin Cash fork to hold on to all your BCH and BSV as well. There are still lots of potential pitfalls with the BTC version of bitcoin but it is by far the most widely used so I am still very bullish on it. I like a lot of the innovation and development I am seeing in BCH and BSV so continue to hold on at least a 1:1 basis with BTC and may even increase that slightly soon.

As for my favorite with the biggest potential reward, it is monero (XMR). As an anarcho-capitalist, I was drawn initially to bitcoin in 2011 as I thought it was quite a private currency. As time went on and as BTC moved even further away from a privacy focus I was thrilled to find out about Monero a few years ago. And, having a crypto team at The Dollar Vigilante and The Crypto Vigilante, they have shown just how incredible of an innovation Monero is for a truly 100% private, untrackable, untraceable currency. And, being at such a low valuation compared to bitcoin right now, I think it has the most potential to have exponential gains.

That said, governments and central banks will try everything they can to stop its usage. But, the great thing is, there isnt much they can do. And, screw them anyway, they are criminal organizations that need to find their way to the trash heap of history as a very, very, very bad, evil, deadly and stupid idea.

BC: Bank of America and many other estimates predict gold prices per ounce to jump to over $3K per ounce in 2020. Would you agree that gold will see a price increase like this due to the macroeconomic turmoil?

That sounds pretty close to what we expect for this year. Over the next 2-3 years, though, we expect much higher than $5,000. If we go right into hyperinflation, pick any number you want. It wont mean anything at that point though.

But, I dont see it rising based on macroeconomic turmoil, I see it rising as people flee hyperinflating fiat currencies for something of real value like the precious metals and some cryptocurrencies.

BC: Right now businesses are being told not to open and remain on lockdown. Many people think that their freedoms are being taken away as well. What would you tell business owners to do and average citizens who want to protect their freedoms? What should they do?

Governments should not exist. They are an illegitimate criminal organization. Every individual should make their own decisions on their own risks and rewards and act on those. Adhering to anything government tries to force on people using violence is always a horrible idea. As for losing your freedom. What freedom? The human race as a whole has never been so enslaved, tracked, and extorted. Your average person now has to ask the government for permission to do just about anything. Drive, fish, cut hair, travel. And, anyone who produces anything has more than half of it stolen by the government.

If people want any chance to have even a sliver of freedom they should immediately walk away from anything related to the government. Dont vote. Dont pay extortion fees. Dont ask for permission to do anything. Nobody owns you but you. If people ever realize that then we will have a world of peace and prosperity like weve never known it. If they dont, we are headed to something even worse than George Orwell imagined. And, he imagined a boot stamping on a human face forever. It will be worse than that if people dont wake up.

What do you think about our discussion with Jeff Berwick? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, The Dollar Vigilante

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Dollar Vigilante Founder Talks Covid-19 and Economic Crisis: 'The Modern Financial System Is at the End of It's Rope' | Interview - Bitcoin News

The CoinDesk 50: Bitmain, the Behemoth of Bitcoin Mining – CoinDesk

Founded in 2013, the Beijing-based Bitmain Technology remains at the center of the crypto economy. With its flagship AntMiner bitcoin mining equipment still dominating the hardware market and its mining pools accounting for about a quarter of the bitcoin networks computing power, it retains a uniquely powerful place in the ecosystem of by far the largest cryptocurrency and blockchain project.

Thats not to say it isnt also controversial. Its vocal support for a Bitcoin hard fork (Bitcoin Cash) in 2017, following contentious community disagreement, won the company, and its masterminds, many enemies.

This post is part of the CoinDesk 50, an annual selection of the most innovative and consequential projects in the blockchain industry. See thefull list here.

Over the years, Bitmain has been involved in many controversial developments to the point that the Chinese crypto community refers to its foes as the mining avengers. In 2017, Bitmain filed a lawsuit against Yang Zuoxing, the former design chief behind Bitmains AntMiner S9 who started a rival miner manufacturer MicroBT, over patent infringement. But Bitmain lost the case eventually.

Then in 2018, it brought another lawsuit over non-compete violation against the former creators of Bitmans mining pool BTC.com, who left the company to start a rival service PoolIn, which has become the worlds top two bitcoin mining pool by total hash rate.

Bitmains story started with Wu Jihan, one of the earliest bitcoin evangelists in China, translating Satoshi Nakamotos white paper to Chinese in 2011.

He invested in probably the worlds first known bitcoin-denominated initial public offering in 2012. It was a project started by Jiang Xinyu, a.k.a Friedcat., who was crowdfunding bitcoin to roll out an application-specific integrated circuit just for bitcoin mining.

The hardware sold well initially and sensational success followed. In 2013, Wu, with a finance and psychology degree from Chinas prestigious Peking University, decided to start his own company to manufacture mining hardware. He was joined by Zhan Ketuan, his partner on the technology side, who, in six years, would find himself ousted from the company in a coup started by Wu.

Bitcoins last halving event in the summer 2016 marked the beginning of two years of extraordinary growth at Bitmain.

In 2017 alone, still only four years old, it made $1 billion in profits. It made another $1 billion for the first six months in 2018 and then went on a high-profile fundraise in the summer, netting $700 million from external shareholders with a bet. The deal is this: if Bitmain cant go public within five years since the fundraise at an agreed term, external investors could require the company to redeem all of their investment with an interest.

At that time, Bitmain was boasting a hardware market share of nearly 80 percent. So the agreed term for the IPO was nothing but ambitious: raising at least $500 million at a valuation of no less than $18 billion.

So much has changed in 2019, since its first IPO attempt failed in March in Hong Kong.

Its rising rival, MicroBT, whose founder won over Bitmains patent infringement lawsuit, is seriously undermining Bitmains market dominance.

In 2019, Bitmains mining pools BTC.com and Antpool lost the top two spots to F2Pool and Poolin, the latter of which still has an ongoing case with Bitmain over alleged non-compete violation.

When Wu Jihan returned in a coup in November 2019 to kick out his founding partner Zhan, he told his people hes back to save the sinking ship. Whether his tough comeback will work as he expected is yet to be proven, although it appears prepared to roll out more powerful equipment to weather the upcoming halving.

It remains to be seen if Bitmain can replicate the sensational success it once had following the 2016 bitcoin halving.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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The CoinDesk 50: Bitmain, the Behemoth of Bitcoin Mining - CoinDesk

Bitcoin And Altcoins At Risk of More Losses – Cryptonews

This past week, we saw a strong bearish reaction in bitcoin price from the USD 10,000 resistance. BTC/USD broke the USD 9,500 and USD 9,000 support levels to move into a bearish zone. The price is currently consolidating above USD 8,500 and remains at a risk of more downsides.

Similarly, most major altcoins are declining and facing an increase in selling pressure, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD traded below the key USD 202, USD 200, and USD 192 support levels. XRP/USD is now (08:30 UTC) trading well below USD 0.200 and it could continue to move down towards USD 0.185 or USD 0.180.

Total market capitalization

After a failed attempt near USD 10,000, bitcoin price reacted to the downside. BTC broke many key supports near USD 9,500 and USD 9,000 to move into a short term bearish zone. It tested the USD 8,200 support zone and currently consolidating losses above USD 8,500. On the upside, an initial resistance is near USD 8,850, but the main weekly resistance is now near USD 9,000.On the downside, a break below the USD 8,500 support could open the doors for more downsides towards the USD 8,200 and USD 8,000 levels in the near term.

Ethereum price failed to stay above the USD 202 and USD 200 support levels. ETH even settled below USD 192 and it is currently consolidating near USD 185. If there are more downsides, the next major support is seen near the USD 178 and USD 175 levels.On the upside, an initial resistance is near the USD 192 level. The main weekly resistance is now near the USD 200 zone (the previous key support), above which the price could revisit USD 220.

Bitcoin cash price declined heavily below the USD 245 and USD 240 support levels. BCH/USD tested the USD 220 support zone, but it is now trading in a bearish zone. To start a fresh increase, the bulls need to push the price above USD 230 and USD 235 levels. On the downside, a break below USD 220 might call for a test of USD 205.Litecoin declined sharply below the USD 45.00 support level. LTC even broke the USD 42.20 level and tested the USD 40.00 level. It is currently correcting higher, but the USD 42.20 and USD 43.20 levels are likely to act as key hurdles for the bulls in the near term.XRP price declined sharply from well above USD 0.215 and settled below the USD 0.200 support. It tested the USD 0.182 support zone and currently attempting a decent recovery. However, the previous supports near USD 0.200 and USD 0.202 are likely to act as major hurdles for the bulls.

In the past three sessions, a few small-capitalization altcoins gained more than 5%, including CRPT, SNT, RCN, LEND, RDD, ZIL, BHT, TNT, ENJ, REP, and FXC. Conversely, HYN, THETA, ZRX, XTZ, BCN, BSV, and NEO are down more than 8%.

Overall, bitcoin price is showing bearish signs below USD 8,850. To start a fresh upward move, BTC must climb and settle above USD 9,000. If not, the bears are likely to aim a test of the USD 8,000 support._____

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Bitcoin And Altcoins At Risk of More Losses - Cryptonews

Renewed Bitcoin Rally May Be Triggered by This $2 Trillion Investor Cash Pile – Bitcoinist

Bitcoins growing correlationwith the U.S. equities could lead its spot price further higher, according to a suggestive analysis.

Analysts at Unigestion said in a note that investors are holding $2.3 trillion worth of cash and cash-based securities on the sidelines. The U.S. money market funds, for instance, have attracted an inflow of $1.1 trillion during the coronavirus pandemic. Meanwhile, bank deposits have shot up to $1.2 trillion since stocks crashed in February.

The Swiss investment management firm tracked hedge fund strategies to realize that they find risk-on assets attractive at their lower positionings. It further noted that declines in the U.S. equities realized and implied volatility could lead institutional investorsin favor of holding riskier assets.

This mountain of cash could be invested in the short term if the Covid-19 curve continues to decline, Unigestion told FT.

Unigestions assessment surfaced after Bitcoin, and the Wall Street index closed higher in sync amid cautious reopening of economies across the world. While the cryptocurrency surged 1.58 percent, the U.S. benchmark S&P 500 index climbed 0.9 percent.

Analysts noted that easing lockdown policies could bring economies back in business, which would lead up to higher, if not the best, corporate earnings in the second quarter. Helped further by accommodating central bank policies, U.S. firms have scope to give back employment opportunities, long after witnessing a stunning rise in joblessness (over 20 billion).

US labor data | Source: Vox

Under that scenario, investors can take a portion of their cash holdings to invest it across the risk markets.

Bitcoin could benefit as well, owing to its long-term bullish scenario post halving. Meanwhile, the cryptocurrency has tailed the gains and losses in the S&P 500 with a record positive correlation. And given the fears of the second wave of coronavirus, both retail and institutional investors could hold it for its short-term, higher risk-reward profile.

Market sentiment is very volatile. As such, the trajectory of global markets will depend on how the coronavirus pandemic fares after reopening economies tentatively. A medium-term loss of economic activity would end up reducing demand for all the unnecessary assets, even Bitcoin.

The massive injection of money by central banks can only delay a bear market. Should this bear market continue longer than it has, investors will dump their BTC and stock positions to seek shelter in cash, once again.

As BitMEXs CEO wrote in a recent newsletter:

Bitcoin will be owned unlevered. Could the price retest $3,000? Absolutely. As the SPX rolls over and tests 2,000 expect all asset classes to puke again.

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Renewed Bitcoin Rally May Be Triggered by This $2 Trillion Investor Cash Pile - Bitcoinist

Vitalik Buterin criticizes Bitcoin for its centralized middlemen and defends Ethereum – Crypto News Flash

Vitalik Buterin was at the centre of a discussion on the present and future of the two main cryptocurrencies: Bitcoin and Ethereum. The debate was initiated on Twitter by the user Danger. The user affirmed that both cryptocurrencies are on the same path and emphasized that Bitcoin and Ethereum not only share values and principles, but also objectives. In that sense, he urged the users of these cryptocurrencies and their community to agree and work accordingly:

Vitalik Buterin founded Bitcoin Magazine. I think this fact is important for both Bitcoiners and Etherians to digest. The core values that drive Ethereum and Bitcoin are not all that different and the end goals are the same.

Immediately, the publication received a response from the community of both cryptocurrencies. For example, Dan Hedl, co-founder of Zero Block, responded that Buterin has attempted to destroy Bitcoin. Hedl expanded his commentary upon receiving a response from Buterin, and outlined 4 points that contributed to what he called the destruction of Bitcoin or at least harmed the network in his opinion. His argument is mainly centered on Buterins support, according to Hedl, for the Bitcoin Cash hard fork:

Marginalizing/persecuting Bitcoiners by calling them maximalists

Trying to undermine confidence in the core dev teams, roadmap, and feature set

Supporting the fork attack called bcash

False equivalency attacks calling bitcoin effectively premined

However, Buterin rejected Hedls statements. The conversation continued when Hctor Crdenas, founder of the website CriptoNoticias, responded that although Buterin may still be following a Bitcoiner, the cryptocurrencies share no common objectives. Crdenas said the Ethereum is in fact prolonging the legacy financial system with the DeFi sector. This sector allows users to take out loans, acquire debt and access other services offered by traditional banks, but using Ethereums platform and smart contracts. Buterin established the opposite:

I really and truly think its the opposite. BTC people seem happy to have lots of centralized middlemen (bitmex, tether, liquid.) and its the ETH community thats trying to decentralize these functions with smart contract constructions.

Although it was impossible to reach a consensus on the similarities that could exist between Bitcoin and the Ethereum and how both projects could work to their mutual benefit, Buterin made a proposal. The co-creator of Ethereum has stated that he wants to build a bridge between BTC and ETH. According to Buterin, it is shameful that there is no mechanism to make swaps between the two cryptocurrencies. Buterin proposed the creation of a decentralized exchange to resolve the issue:

We should put resources toward a proper (trustless, serverless, maximally Uniswap-like UX) ETH <-> BTC decentralized exchange. Its embarrassing that we still cant easily move between the two largest crypto ecosystems trustlessly.

At the time of publication, Bitcoin and Ethereum share the general feeling of the market. BTC has a price of $8,740 with a loss of 8.79%, while the ETH has a price of $189 with a loss of 9.86% in the last 24 hours.

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Vitalik Buterin criticizes Bitcoin for its centralized middlemen and defends Ethereum - Crypto News Flash

Telegram Forces US Investors to Take 72% Refund and Exit Gram Token Project | Altcoins – Bitcoin News

Telegram is now forcing U.S investors to immediately exit its TON blockchain project by accepting a 72% refund on their original investment.

The encrypted messaging platforms unexpected volte-face also disqualifies American investors from the loan option, which promised a 110% refund either in Gram token or in any other cryptocurrency.

According to a letter sent to investors on May 4, Telegram said American-based investors will not be allowed to stay another 12 months in the project. The decision has been necessitated by regulatory challenges in the U.S., it said.

Telegram now expects to launch its Gram token next April, after failing to do so twice in the past. The latest failure came a week ago.

Unfortunately, given your status as an investor from the United States and based on later discussions with the relevant authorities and our lawyers, we made the difficult decision not to use this option with you due to an uncertain regulatory attitude in the United States, the company stated.

Last week, Telegram tabled two options to refund all investors who channeled $1.7 billion into the Telegram Open Network (TON) in 2018: either receive 72% of their investment immediately or loan Telegram for a year, then be paid in cash, Gram or another crypto, with an additional 10% bonus.

However, the new letter reportedly retracted from the crypto option too, meaning loan refunds will be in cash or something else apart from digital currency. This is contrary to an offer from a week ago.

.We have made the difficult decision not to pursue an option involving grams or another cryptocurrency due to its uncertain reception from the relevant regulators, Telegram told investors.

The company has faced serious legal challenges. The U.S Securities and Exchange Commission (SEC) wants the Gram project stopped because of alleged illegal activity by the Telegram development team.

What do you think about Telegrams treatment of U.S investors? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Telegram Forces US Investors to Take 72% Refund and Exit Gram Token Project | Altcoins - Bitcoin News

Couple in Hiding After ‘Seasteading’ Attempt Goes Wrong | Time

The Royal Thai Navy plans to remove a house built on a platform 12 miles off the coast of Phuket according to the Bangkok Post.

American Chad Elwartowski and his Thai partner Supranee Thepdet, also known as Nadia Summergirl, were reportedly living in the house, built by Ocean Builders, to promote the concept of seasteading.

Seasteading is the concept of creating permanent dwellings at sea, called seasteads, outside the territory claimed by any government, says the company on its website.

In a promotional video posted to YouTube in March, Elwartowski toasts his partner with champagne on the roof of their ocean dwelling. He says 20 more floating homes are planned so others can join them in a libertarian-style community that they believe will be beyond legal jurisdictions.

Governments have a monopoly on land but they dont have a monopoly at sea, Elwartowski says in the video. Were looking forward to freedom-loving people to come join us out on the open ocean.

In an earlier video, he says international waters are where there are no laws other than the law of the sea.

But Thai authorities have a different view. They have filed a compliant, accusing the couple of breaching a section of the countrys criminal code that relates to threatening the sovereignty of a state, and erosion of a states independence, according to the Post. The charges carry the death penalty.

We have already prepared a vessel, equipment and manpower to move the structure. We will try to move it within a week a Thai vice-admiral told the newspaper.

Elwartowski says the couple are now in hiding. This is ridiculous. We lived on a floating house boat for a few weeks and now Thailand wants us killed, he said on his Facebook page.

He told TIME by email that he and his partner have no claim to the home. It was never ours, we just lived there and promoted it.

For your security, we've sent a confirmation email to the address you entered. Click the link to confirm your subscription and begin receiving our newsletters. If you don't get the confirmation within 10 minutes, please check your spam folder.

Write to Amy Gunia at amy.gunia@time.com.

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Couple in Hiding After 'Seasteading' Attempt Goes Wrong | Time

Seasteading | FSA Wiki | Fandom

Sea-steading is a lifestyle of making the oceans, or at least water-borne craft, one's home. Most sea-steads historically have been sailing craft, whether perhaps demonstrated by the the Chinese Junk, modified canoes of Oceania, or even the famous Pirates of Libertaria. In modern times in the west the cruising sailboat has begun to be used in the same manner. The term sea-steading is of uncertain origin, used at least as early as the turn of the century by Uffa Fox, and others; many feel that catamaran designer and historian James Wharram and his designs represent ideal Sea-Steads. More recently, American sailor and ecological philosopher Jerome FitzGerald has been a leading and effective proponent of Sea-steading, mostly teaching the concept through the environmental/sailing organization "The Oar Club". The Seasteader's Institute in Hilo, Hawaii offers classes, boat-building opportunities, education in forage foods, diving, and other aspects of a Seasteading lifestyle.

Some theoretical seasteads are floating platforms which could be used to create sovereign micronations, or otherwise serve the ends of ocean colonization. The concept is introduced in a paper by Wayne Gramlich, and later in a book by Gramlich, Patri Friedman and Andy House, which is available for free online. Their research aims at a more practical approach to developing micronations, based on currently available technology and a pragmatic approach to financial aspects.

The authors argue that seasteading has the potential to drastically lower the barrier to entry to the governing industry. This allows for more experimentation and innovation with varying social, political, and economic systems. Potential business opportunities include data havens, offshore aquaculture, and casinos, as well as the gamut of typical business endeavors.

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Seasteading | FSA Wiki | Fandom

Goldman Sachs warns jet fuel demand may never fully recover from the crisis – CNBC

A technician of the German airline Lufthansa works at a parked plane at the "Franz-Josef-Strauss" airport in Munich, southern Germany, on April 28, 2020, as public life across the world has been limited in measures to combat the novel coronavirus COVID-19 pandemic. (Photo by Christof STACHE / AFP) (Photo by CHRISTOF STACHE/AFP via Getty Images)

CHRISTOF STACHE | AFP via Getty Images

The coronavirus outbreak will have a lasting impact on the behavior of businesses across the globe, with jet fuel demand unlikely to ever fully recover, according to the head of commodities research at Goldman Sachs.

The Covid-19 pandemic has meant countries have effectively had to shut down, with many governments imposing strict restrictions on the daily lives of billions of people.

Confinement measures which vary in their application worldwide but broadly include school closures, bans on public gatherings and social-distancing guidelines have been implemented in 187 countries or territories in an effort to try to slow the spread of the virus.

To date, more than 4.1 million people have contracted Covid-19 worldwide, with 282,727 deaths, according to data compiled by Johns Hopkins University.

The public health crisis has led to an extreme demand shock in energy markets, with world travel brought close to a standstill.

Jeff Currie of Goldman Sachs argued that the severe loss of oil demand came primarily from three sectors: Commuting demand; industrial demand and jet demand.

Industrial demand and commuting demand should both be able to recover fairly quickly from the pandemic, Currie said, but jet demand "is the weakest one."

"So far, we would tend to think when we see a normalization globally, you'll get the leisure demand back. The part I don't think you get back is what we are doing right now," Currie said during a video call with reporters on Thursday.

"I think you are going to lose a good chunk of the jet demand that would have been associated with business travel. Our base case is you lose somewhere around 2 to 3 million barrels per day of that," he added.

Brandon Wilson, owner of AvidJet, disinfects a Frontier airplane with a fogger at Denver International Airport on Tuesday, May 6, 2020. ProShield, the microbiostatic agent used to disinfect the plane, will keep the aircraft clean for up to 90 days after application.

AAron Ontiveroz | The Denver Post | Getty Images

Goldman Sachs expects global oil demand to fall to 94 million barrels per day in 2020, down from 100 million barrels per day in 2019. Oil demand is then expected to rise to 99 million barrels per day in 2021.

Currie said the U.S. investment bank does not expect oil demand to normalize back to pre-crisis levels until the third quarter of 2022.

Alexandre de Juniac, the chief executive and director general of the International Air Transport Association, has warned the situation for the airline industry "could not be more dire."

Last month, the IATA published analysis which showed the Covid-19 crisis could see airline passenger revenues drop by $314 billion this year, reflecting a 55% decline when compared to 2019.

As of early April, the number of flights globally was reported to be down 80% compared to 2019, in large part as a result of the travel restrictions imposed by governments worldwide.

When asked whether he expected the loss of jet fuel demand to be permanent, Goldman's Currie replied: "I know just in myself that I find Zoom has been a very good substitute for getting in a plane and flying halfway around the world. And, you look at the routes that the airlines are planning when they come back, they are not going to be at the same level that they were previously."

"So, is it 2 million barrels per day that has a more persistent drag to it or is it 3 million (barrels per day)? That is still to be known," he continued. "You can't say it is lasting but, is there going to be a lasting impact on business behavior and willingness to get into Zoom? The answer is, absolutely, yes."

An airplane sits at the Avianca Holdings SA Maintenance, Repair and Overhaul (MRO) Aeronautical Center in Rionegro, Colombia on Tuesday, Nov. 7, 2017. Avianca Holdings SA reported a net income of $36.1 million USD in the third quarter despite a pilot strike that lasted for almost two months.

Nicolo Filippo | Bloomberg | Getty Images

Alongside the IATA, the global trade representative of the world's airports has urged governments to quickly grant financial relief to assist airport operators and airlines during the Covid-19 crisis.

"The financial impact of the current crisis is unlike anything we have ever seen and requires urgent action by governments to assist the aviation industry to protect jobs, ensure essential operations, and plan for recovery," Angela Gittens, director general at Airports Council International (ACI), said in a statement on April 30.

More recently, the world's second-oldest airline filed for bankruptcy. Colombia's Avianca would be the first major carrier worldwide to go under as a result of the pandemic if it fails to come out of bankruptcy, Reuters reported on Sunday.

Avianca's pleas for state-aid have so far been unsuccessful.

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Goldman Sachs warns jet fuel demand may never fully recover from the crisis - CNBC

Travel changed after 9/11; Here’s how it will look after the Covid-19 pandemic finally recedes – CNBC

The coronavirus has devastated economies around the world and disrupted life in ways that were unimaginable just a few months ago. The world will never be the same. But at some point, industries will start coming back online and people will start going out again.

We asked travel industry experts for their thoughts on what willrestore confidence for people to begin traveling once theCovid-19 pandemic finally recedes. In the latest installment of our series "The Next Normal," we look at where and how we'll actually travel once we're willing to hit the road again.

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A road trip to a national park or other attraction in a neighboring state.

A week-long stay at a sanitized vacation rental property nearby.

How does that sound? Your next outing might be booked through a travel advisor and insured, too.

That's what a typical family vacation might look like in the U.S. once travel and tourism starts to pick up again post-pandemic, say industry experts. Just when that might happen is up in the air, yet it could be as soon as early fall or as late as next spring or beyond.

The hypothetical trip incorporates several trends coming to the travel business going forward. These include traveler preferences for domestic destinations reachable by car and stays at private rental properties instead of crowded hotels and resorts.

What seems sure is that any rebound in travel and tourism, brought to a screeching halt by the coronavirus pandemic, will start slowly and stay closer to home. A recent study from Longwoods International found that 82% of travelers polled had changed their travel plans for the next six months.

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"Tourism recovery typically begins locally," said Elizabeth Monahan, spokesperson for TripAdvisor.com. "Travelers tend to first venture out closer to home, and visit their local eateries, stay local for a weekend getaway or travel domestically before a robust demand for international travel returns."

Omer Rabin, managing director, Americas, for Guesty, agreed. Guesty is an Israeli-founded property management software that enables users with properties across Airbnb, Booking.com and other travel sites to automate and streamline operations. "There will be a lot of demand for domestic travel," he said. "I think that's clear to everybody in the industry right now.

"We see a much better recovery and occupancy for drive-to destinations," he added. "People say 'we don't know what's going to happen with flights, but we do know that we're going to be able to get in the car and drive for three hours and have our own place and stay there for two weeks.'"

In fact, the Longwoods survey found that of those that had changed their travel plans for this year, nearly a quarter, or 22%, had switched to driving from flying . Aviation industry group Airlines for America says U.S. airlines have idled 3,000 aircraft, or half the nation's fleet, due to the downturn, while the number of passengers passing through TSA checkpoints at airports is down 93% over last year.

"Our clients are a little hesitant to get on an airplane right now," said Jessica Griscavage, director of marketing at McCabe World Travel in McLean, Virginia. "We're already preparing for the drive market for the remainder of the year, and probably into 2021."

For its part, online travel insurance comparison site InsureMyTrip is finding that the continental U.S. is indeed the top draw for future client travel but it's also tracking some interest in domestic destinations like Hawaii, as well as the Bahamas and Caribbean destinations like Jamaica.

"When people get more comfortable, they'll continue to go farther and farther away from home, starting with domestic and then moving to international, long-term," said Cheryl Golden, director of e-commerce at the Warwick, Rhode Island-based firm. (To wit, Sandals Resorts reportedly will open most of its Sandals and Beaches properties across the Caribbean June 4, and those in the Bahamas July 1.)

There is a small degree of interest in flying from die-hard bargain seekers.

"We've heard from a number of travelers that the low airfares available along many routes are tempting," said TripAdvisor's Monahan, although she cautions those willing to book flights that "airlines continue to adjust their cancellation and change policies for travelers across the globe in response to Covid-19."

Until the virus is under control and efficient systems are in place to restore confidence in travel, it's simply too soon to tell when people can expect to start booking again.

Erika Richter

senior communications director, American Society of Travel Advisors

"Every day and every week, it just seems like things are changing and it's really dynamic," said Golden. "It's hard for us to say right now when we think people will be ready to travel but travel will come back."

Erika Richter, senior director of communications at the American Society of Travel Advisors, said a new normal is probably necessary before bookings will pick up again. "We're still in that wait-and-see mode, because until the virus is under control and efficient systems are in place to restore confidence in travel, it's simply too soon to tell when people can expect to start booking again."

And when they do, things will be different, thinks Anne Scully, a certified travel counselor and president of McCabe World Travel. "Travel's going to come back [but] we'd need a crystal ball to say when," she said. "It will be changed, I think, at least for the next 12 months."

In the meantime, Scully's colleague Griscavage said she seeing a "standstill" in the agency's bookings through the holiday season meaning little in new business but not many cancellations, either. "Those [trips] are still bought, they are not cancelled yet, though it's just too soon to tell," she said. "I'm personally not seeing a surge in [holiday] travel bookings just yet though I think that can change very quickly as states are starting to open up."

There's been good news at Guesty, however, said Rabin. In the last two weeks of April, more reservations than cancellations came in.

Noel Hendrickson/Getty Images

"The most interesting thing is that there are more future reservations for the holidays right now than we have seen in that point of time in April 2019 for the holiday season last year," said Rabin. "Which means there's a lot of optimism and people are planning ahead."

Reservations for Thanksgiving, Christmas and New Year's stays are up 38%, 40% and 23%, respectively, compared to the same time in 2019, Guesty found. "This also means that a lot of people are unable to take summer vacations or don't feel comfortable making bookings and travel plans for June, July, August," said Rabin, so are planning for later in the year. New flexibility in vacation-rental cancellation policies is helping, too, he added.

"Travel has changed," said Scully at McCabe World Travel. "It changed after 9/11, and it changed after the economy blew up in 2008-09." Yet travel advisors then showed clients it was still possible to travel despite any economic or geopolitical changes, and perhaps "better than ever," she said.

Griscavage said she foresees a big surge in family and multi-generational travel once people are willing to book trips again. "They didn't get their spring breaks, they're unsure of their summer trips," she said. "Maybe you didn't get to go to Mom and Dad's 50th anniversary or Grandma's 80th birthday.

"All of these families haven't been able to be together," she added. "I think we're going to see a lot of family and multi-gen travel but in a different way, a safer way."

How so? Accommodations perceived as cleaner and more isolated will find greater favor. "The question on every traveler's mind will be 'what are resorts doing to make us feel safe?'" Griscavage said. "I think we're going to see a big increase [in bookings of] villas and private homes and less crowded experiences moving forward."

Scully suggested that traditional hotel properties may pivot to operate more like private villas, selling entire floors staffed "not so much with a butler but a handler who could go down to pool, for example, and make sure the lounge chairs are separated." Hotel rooms may also sit empty for several days and be completely disinfected before a new guest can check in.

"These are going be not only game-changers but maybe a healthier way for us moving forward," Scully mused. "You've probably seen ridiculous shows on TV where they ask 'Is that hotel bedspread really clean?' Well, I bet now that it's really going to be spotless."

Rabin agreed that sanitization will be "a very big thing." Many of Guesty's vacation home hosts are installing automatic locks that can be opened via cellphone app, are arranging for contactless food deliveries to guest units and space out rental periods, "sometimes for days," to ensure complete unit disinfecting, he said.

There's a definite move toward vacation homes over hotels, Rabin said. "People feel much more comfortable staying short-term rentals like vacation homes," he said. "Hotels have a lot of turnover of guests, a lot of volume, a lot of people at check-in and check-out and in the dining room."

The trend is even influencing how hosts market their rental units. "If you search today for apartments on Airbnb, you will see that a lot of the hosts will put in the name of the property 'Sanitized, highly clean, Covid-friendly' a lot of things like that to basically signal to their customers, 'We are a safe location.'"

It works: Those hosts are seeing more reservations, according to Guesty data. The firm is working to ensure all hosts can offer such contactless, cleaner stays to prospective guests, said Rabin.

InsureMyTrip, for its part, is seeing a 6% increase in vacation-unit rentals over 2019, along with a decrease in hotel bookings, said Golden. "It's a trend that's just starting to happen, but I do expect we'll start to see more of this as people look to travel closer to home for vacation."

If anyone booked without a travel advisor during this period, they learned they should have.

Anne Scully

president, McCabe World Travel

Other areas of travel and tourism from pricing and flexibility to insurance and booking methods are also evolving:

Flexibility: Once you've paid, you are now, in many cases, free to cancel flights, accommodations and other travel components almost up to the last minute. "All the vendors really need the revenue stream, and so they offer this kind of flexibility at the moment," said Rabin. "The biggest chance that they have to recoup a lot of the losses for a weak summer is in a strong winter," so they're doing what they can to encourage bookings.

Scully at McCabe World Travel would like to see another change when it comes to prepayment. "When we give a hotel, a tour operator or a cruise line money, those funds for that client should be held in a kind of escrow," she said. "They don't get to use it for marketing or for something else, so when something happens, they have to give clients back money that they paid in good faith."

Pricing: Costs for travel autumn-onward have not dropped much. "Most of the vendors really understand that their path to profitability and recovery in 2020 is trying to protect their prices into winter season," said Rabin. "And so we see that most of them, for very obvious reasons, want to actually sacrifice the flexibility and not sacrifice the margin."

Duration: Rabin said short-term accommodations rentals, once typically between 3.5 and 5 days, are trending longer in duration, with an average 8.5- to 9-day stay. The trend stared a few weeks back when urbanites were booking month-long escapes from city centers that pushed the length of the average stay up "but now we see it as something that's really a sustainable trend, for the last month or so."

Types of trip: Apart from close to home road trips, people seem willing to consider booking vacations that normally require a year or more of advanced planning, said ASTA's Richter. "While some travelers are booking for 2021, it really is going to depend on the traveler and where they're going," she said.

African safaris, for example, require a year or more in advance of booking, especially for popular times of the year. "Those are the types of planning discussions that travel advisors are having with some of their clients," she said. "You also have to think about all of the destination weddings and honeymoons that were put on hold and need to be readjusted, and then maybe readjusted again, and again."

Travel insurance: Travel insurance, once an afterthought shunned by travelers looking for a bargain, may seen an uptick. "Now more people than ever are aware of travel insurance and how it could possibly help them," said Golden at InsureMyTrip.com. "Every time we've had an event like this in the past, there's been an uptick in travel insurance that sticks."

Before 9/11, about 7% of people bought travel insurance; after a surge in post-attack sales, the figure reached around 15%, she said. "We expect there will be a similar rise after coronavirus," Golden said. "It's now spiked pretty dramatically." Twenty-five percent to 30% of travelers will buy travel insurance going forward, the firm estimates.

Advisor Scully has sold a lot of travel insurance of late, especially the comprehensive kind. "We upgraded our clients on insurance to 'cancel for any reason,'" she said, noting she also offers clients medical evacuation services. "Whenever we're taking a client's money and they say, 'I'm not going to insure this,' the first thing I'll say is 'Are you comfortable losing $25,000 should you not be able to travel?'"

Travel advisors: The rise of Internet booking engines and online travel agencies from the mid-90s hit the traditional travel agent industry hard. But the trouble many travelers have had getting self-booked plans refunded or rescheduled amid the pandemic may fuel a renaissance in the fortunes of agents, who've now rebranded themselves as "travel advisors."

"If anyone booked without a travel advisor during this period, they learned they should have," said Scully at McCabe World Travel. "Trying to even call the airlines because the phones were just so jam-packed could take 16 hours, could take two to three days."

It's not just consumers who are noticing. "Our partners, our hotel partners, our cruise partners, our airline partners, our partners on land, they all know moving ahead, how valuable that travel advisor will be to their future growth," said Scully.

"The role of the travel advisor has evolved so much and we are not merely transactional agents anymore," said Richter at ASTA, whose thousands of members represent 80% of all travel sold in the U.S. through the travel advisor distribution channel. "We believe strongly that the future will have a heavy emphasis on the travel advisor facilitating the future of travel."

She favorably compared the roles advisors can play in both travel and personal finance. "During this crisis, folks who are concerned about their 401(k), savings and investments, they're talking to their financial advisors, [who] are helping them reassess and make short-term and long-term adjustments to their financial portfolio," said Richter. "The same is true for savvy travelers.

"They are working with their travel advisor to adjust their short-term and long-term travel goals, and it's a relationship that is ongoing."

Read more:

Travel changed after 9/11; Here's how it will look after the Covid-19 pandemic finally recedes - CNBC

5 charts show which travel sectors were worst hit by the coronavirus – CNBC

Information board displaying cancelled flights at the departure hall at Kansai International Airport on March 10, 2020 in Osaka, Japan.

Tomohiro Ohsumi | Getty Images

From spring breaks to summer holidays, the coronavirus pandemic has disrupted travel plans globally as lockdown measures keep much of the world's population at home during some of the peak seasons for traveling.

To limit the spread of Covid-19, more than 200 countries and territories worldwide have imposed measures that restrict or deter people from entering their respective borders, according to a report released last week by the United NationsWorld Tourism Organization.

"Never before in history has international travel been restricted in such an extreme manner," the report by UNWTO read.

From flight suspensions to border closures, the massive shutdown has cost countries billions of tourism dollars, airlines are running out of money and millions of people have lost their jobs turning the tourism industry into one of the largest casualties of the coronavirus outbreak.

Here are five charts that show the pandemic's impact on the travel industry.

Travel restrictions around the world became more stringent as more cases of Covid-19 were reported, according to the UNWTO report.

There were four broad categories of restrictions, according to the report. Of a total of 217 destinations,

UNWTO said that as of April 20, none of those destinations have lifted any measures to ban, limit or deter visitors and in some cases, residents from entering their borders.

One effect of those limitations on travel is the reduction in the number of commercial flights.

The average number of commercial flights per day fell from more than 100,000 in January and February this year to around 78,500 in March and 29,400 in April, according to data by Flightradar24, a website that tracks flights globally.

Such a decline has led airlines to ground a large proportion of their fleet, resulting in many running into financial difficulties.

Some governments have stepped in to offer a lifeline for those struggling. They include:

Still, passenger revenue for airlines is estimated to plunge by $314 billion in 2020 or a 55% drop from 2019 levels, according to the International Air Transport Association.

The aviation industry could take years to fully recover, said Brendan Sobie, an independent analyst at consulting firm, Sobie Aviation.

"The recovery is going to be very slow, it's going to be a long road especially for international travel," he told CNBC's "Capital Connection" last month.

"We'll see some domestic recovery this year, but the international recovery is going to take a few years and could take several months to start."

In addition to airlines, hotels have also been hit by the reduction in travel.

Hotel rates fell across all regions in March, according to data by STR, an analytics firm that tracks the hospitality sector.

The tourism industry contributes around 10.3% of global gross domestic product and generates roughly one in fourof the world's new jobs over the past five years, according to World Travel and Tourism Council, which represents private companies in the industry.

But the sudden halt in global travel due to the pandemic would result in more than 100 million job losses this year, according to an analysis by WTTC.

That would contribute to an estimated $2.7 trillion decline in travel and tourism GDP in 2020, the analysis showed.

"This is a staggering and deeply worrying change in such a short time," Gloria Guevara, the council's president and chief executive, said in an April statement. "The whole cycle of tourism is being wiped out by the pandemic."

Read more here:

5 charts show which travel sectors were worst hit by the coronavirus - CNBC

When will we start traveling again? Here’s what experts are saying – CNBC

A passenger walks through Reagan National airport as the novel coronavirus (COVID-19) pandemic continues to keep airline travel at minimal levels and the U.S. economy contracts in the first quarter at its sharpest pace since the Great Recession, in Washington, April 29, 2020.

Kevin Lamarque | Reuters

The coronavirus pandemic has rocked the international economy and disrupted our lives like nobody could have imagined at the beginning of 2020.

Things may never return to the way they were before the Covid-19 crisis. But the world won't stay on lockdown forever.

We asked experts in public health and various industries for their best predictions on what the world will look like when the pandemic finally recedes. In this segment of our series, "The Next Normal," we look at what experts are saying about when travel might resume.

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In April 2019, more than 2 million travelers passed through U.S. airports every day.

A year later, the coronavirus pandemic all but shut down air travel, as people sheltered in their homes, scared that recycled air and close quarters will make airplanes a breeding ground for Covid-19 infections. Air travel has dropped by more than 95%, with some days seeing fewer than 100,000 air travelers across the country.

Is this the beginning of a permanent decline in air travel? Or will things return to normal?

While the experts acknowledge they don't have a crystal ball, they all agreed that it would take around 18 to 24 months before there's a significant spike in demand and the industry begins to return to regular levels. In the meantime, the travel industry will undergo some very big changes: Airports may institute new kinds of security checks to screen travelers who are sick, nervous tourists will vacation closer to home, and the travel experience will be dominated by large chains as small hotels and restaurants struggle or go out of business.

A survey published last weekfrom Longwoods International, a market research firm focused on the travel industry, found that 82 percent of Americans have already changed their travel plans for the next six months because of the coronavirus. Fifty percent said they would cancel trips, and 45 percent expect to reduce travel in that time frame, according to the survey of 1,000 American adults.

"What we have seen since the country went into shutdown with talks to reopen is that intent was directionally heading up," said Amir Eylon, the firm's president and CEO, who has been conducting regular surveys since the pandemic was declared. "But now we're seeing a plateau."

Some countries are thinking about how to get people traveling again while reducing exposure.

Airlines like Delta are considering issuing informal "immunity passports," for instance, to people who can prove they have already been infected.

But those in public health, like Harvard global health professor Ashish Jha, are skeptical.

Jha notes that the test results might be inaccurate, especially given the variable quality of the antibody tests. "The testing is still very flawed," he warned. And even if people have recovered and have antibodies, it's possible they could be infected again.

Temperature checks at airports could also become the norm. But Jha notes that these might not catch cases where the person is asymptomatic.

All in all, without "aggressive testing, tracing, and isolation," he said, it will be very challenging for airlines to reassure travelers that people with Covid-19 aren't on board.

"When it comes to resuming activities as before, it's about your risk tolerance," Jha said. "There's no magic formula."

People who do hop a flight will find the experience is very different. Airlines are starting to require passengers and crew to wear masks, and many carriers are leaving middle seats open and doing away with beverage service.

Many airlines are still canceling international flights through the summer and into fall.

Even as airlines and authorities put safety measures in place, people will have to feel safe before demand picks up.

Some people particularly the one-third of Americans at high risk of hospitalization if they get exposed to the virus will stay home until there's a vaccine or some kind of proven treatment, which would likely mean a year or longer avoiding travel.

Others will wait for reassurance from senior health officials and scientists, not just airlines and travel experts.

"Many people are not going to feel safe going back to crowded airplanes ... until they see that the number of new deaths from the virus has gone down to almost none in their region, or until there is a vaccine or much better ways of tracing and isolating who has it," said Robert Reich, the former U.S. Labor secretary and a professor at the University of California at Berkeley.

Safety is not the only factor. As the economy sours, people are also nervous about splurging on air travel to luxury destinations.

"We're still talking about whether we might see a U-shaped recovery, or more of an L, or even a W, if there's a second wave of coronavirus cases," said Josh Collins, who runs marketing for Streetsense, a branding firm that specializes in hospitality, travel and real estate. He thinks the days of taking a lavish annual trip to a tropical destination might be over for a while until people feel confident about their finances again. Instead, they might look for local options, like camping or road trips, that are easier on the wallet.

For example, Noble House Hotels & Resorts in San Francisco, which includes the high-end Argonaut Hotel and Hotel Zoe, is fielding callsfrom European tourists who say they need to postpone their trip for later in the year or even into 2021, according to area manager Stefan Muhle.He's also seeing a drop in bookings from business travelers because of the cancellation of conferences, including Dreamforce, which brings 200,000 people to San Francisco every November.

Now, he's considering a new market: staycationers. Rather than the standard excursions, which might involve booking a tour bus for a large group, he's thinking creatively about marketing the hotel as a luxurious place to spend the night after a hike in a nearby national park, such as Muir Woods. Trips with an emphasis on the outdoors might be particularly appealing after people have been cooped up in their homes for months.

After studying consumer sentiment, Longwoods'Eylon said this strategy has the best shot of success for many hoteliers. He expects that travel will resume in a slow, careful and highly phased manner. It will kick off with local outings as the economy reopens. From there, some people will increasingly feel confident driving for a night or two away from home. It could take much longer before most people are comfortable getting on a plane for a long-haul trip.

"The first signs of a new normal will be that parents start taking their kids to the zoo or the park," he said. "From there, they'll venture a little further for a night away from home."

The industry has already been devastated by Covid-19, and business are shutting down or laying off staff. As of early April, the World Travel & Tourism Council expects that the travel industry to lose as much as $2.1 trillion by the end of the year.

That means fewer options for travelers once demand picks up.

Many smaller businesses will have shut their doors, leaving behind larger, high-end chains that have more runway and can still attract people with spending money. The hotels that are still in business might have offloaded their restaurants, which were once profit centers but are now sitting empty.

Streetsense'sCollins said many of his clients are kicking off plans to bring visitors back in to their hotels and restaurants, but with a lot more social distancing than before. That might keep some businesses afloat for a while. But not every vendor will be able to sustain that kind of reduced capacity for long. "Many of these small businesses are operating with razor-thin margins already," he said.

On the plus side: deals, deals and more deals.Businesses will probably cut back on travel and look to do more virtual meetings. That means airlines and hotels will find themselves catering to leisure travelers and may offer major discounts as they desperately look for business.

"Everyone is getting acclimated to web-based conferencing in general, myself included," said Dr. Peter Bach, a physician and epidemiologist at the Memorial Sloan-Kettering Cancer Center, where he also runs the Center for Health Policy and Outcomes. Bach was once a frequent business traveler, but those trips are now on hold as the virus spreads."If the airline industry becomes purely for pleasure, it becomes a very different business," he said.

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When will we start traveling again? Here's what experts are saying - CNBC