Daily Archives: July 7, 2022

Racism is inherent in comedy – we need to acknowledge that : Correspondents 2022 – Chortle

Posted: July 7, 2022 at 9:15 am

Says South African satirist Conrad Koch

Comedys power is its licence to say the unsayable. It should be the freest speech there is, but in many ways it isnt.

As a white political comedian in post-apartheid South Africa I have grappled with comedys relationship with racism and power for my entire career.

History is written by the victor, and comedians are part of it. As comedians we have a say in how society understands racism, apartheid, colonialism and slavery. But because power in a society also dictates what is sayable we are constrained by what our audiences and bookers can cope with. Hannah Gadbsy alludes to it in that searing special: artists are closely associated with power. The pressure to make it safe is often economically and mentally insurmountable.

So lets be clear on the status quo. I live in what the World Bank officially described as the most unequal society on earth. Most South Africans live on 2 a day or less (the upper bound poverty line). In Cape Town there are families who live in shacks in the freezing cold of our rainy winters, and the only toilets are a bucket next to the bed or a public toilet around corner, which you use at the risk of rape.

In 2012 the South African government shot down 34 striking miners who worked for an English-owned platinum mine called Lonmin and were striking for a living wage, for the right to feed their kids, at a place called Marikana. Apartheid and colonialism didnt end, they just changed tactics.

The truth is the advantages of the West, from the NHS to a functioning justice system, were for the most part paid for by the extracted land, labour and mineral wealth of the Global South,by the deliberate destruction of the Indian economy to our advantage, by the enslavement of millions of Africans, and the genocide of native Australians, Americans, etc. Its not a coincidence that this inequality exists, Cecil John Rhodesand the like literally planned it, and its still happening.

But remarkably you will seldom hear any mainstream or even alternative comedy about this, because the truth is comedy that gets profile and prestige is almost entirely dictated by who Netflix and Co know pay their subscriptions: rich (and, in the West, mainly white) people. Netflix doesnt care about anyone living in shacks. Economic power almost entirely dictates what comedians say, to the degree that we stop even seeing that we are doing it.

In global terms, I dont see there being a culture war between the left and right, and some people in the middle. There are literally billions of colonised Others who have almost no say in this conversation and a tiny sliver of humanity with wealth, many of them living on ill-gotten privilege.

This shapes what we see as good comedy. Comedy is a very privileged activity. It requires people with money to see it or stream it. For example, the Edinburgh Festival could not happen in South Africa. We lack the massive middle class needed for anything of that size. And the truth is that what we like, what we see as tasteful is a product of shared social norms and agreements that are backed up by economic power. If you only see comedy of a certain type, you will eventually develop a taste for it. What is seen as good comedy internationally is a product of a racist, classist and sexist global economy. Are impoverished Africans getting a say? No, theyre not.

Currently in comedy we are obsessed with a freedom of speech debate around wokeness, but from my perspective the entire system is racist. So the politically aware ones on the left will rightly be enraged at Canadian Prime Minister Justin Trudeaus racist blackface party outfits, but you will never hear mention of the Canadian mining companies with operations in Africa leaving a fraction of their profits (sometimes less than 2 per cent) in Africa. Neo-colonialism leaves millions of Africans impoverished, and is by far the bigger crime, but makes for less trendy tweets. To some degree we are all in on this racist scam.

Its not just about saying the unsayable, its about creating work that is more than just a ritual of rebellion, as they call it in anthropology. Lightly poking at the King to let off some social catharsis, as most TV satire does doesnt disrupt the status quo, it enforces it (Im a TV satirist, and am blaming myself here too). We need to be doing comedy that drags the murder of 34 striking South African miners to the front of the global conversation. We need to be asking how the IMF still lends wealth stolen from Africa and Asia back to them? We need to be asking why we have not had reparations for apartheid, slavery and colonialism? But who would pay to see such comedy? Exactly.

Yes, we have more diversity in what comedians we see on TV, and have a long way to go in even that, but just because a Black comic is speaking doesnt mean they are free to speak, or that they will say what must be said. I live in a country where the party of Nelson Mandela, the ANC, has in many ways itself been subsumed by colonial wealth. As long as the taste-makers of comedy, and its most powerful markets are rich and white creating work that truly confronts this unjust status quo is close to impossible.

What does this mean for comedians? The usual response from white people when we hear this type of thing is fragility and outrage. We think we are being blamed. Its not blame, its just a description of the status quo. Its unfair to think comedy can fix the whole of western societys evils, but at the very least we should not be fooling ourselves about how racism has shaped our industry.

Conrad Kochs White Noise will be at the Pleasance Courtyard at 9.45pm from August 3 to 29.

Published: 4 Jul 2022

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Hong Kong 25: Migrant domestic workers have long fought against reversals of their rights. They’re not stopping – Hong Kong Free Press

Posted: at 9:15 am

When Tung Chee-hwa met reporters from local and international media on July 2, 1997 the day after being sworn in as the first chief executive of the Hong Kong Special Administrative Region he was asked what the Handover of the former British colony to China meant for Filipino domestic workers in the city.

The Filipino domestic help is very much part of our community and I hope they will be here for a long, long time to come, Tung responded.

One of the more than 150,000 Filipino migrant domestic workers in the city in 1997, activist Eman Villanueva, recalled feelings of uncertainty preceding that historical moment. There was a lot of talk about possible changes after the Handover, he told HKFP.

But as it turned out in the context of migrant domestic workers in Hong Kong, there was really not much change after that, said Villanueva, who arrived in the city in 1991 and is the spokesperson of the Asian Migrants Coordinating Body (AMCB), a coalition of migrant worker groups and unions.

Most of the problems we faced post-1997 were already there.

Many of those issues remain in 2022. And without a vibrant activist movement, migrant domestic workers rights in Hong Kong might have slid into reverse.

The two-week rule, for example, its been there since the 80s, Villaneuva said, referring to a policy introduced in 1987 that requires migrant domestic workers to find a new job within 14 days of their employment contract ending or being terminated, or leave the city.

Responding to an enquiry from HKFP, a spokesperson for the Labour Department described the two-week rule as necessary for maintaining effective immigration control and helps prevent FDHs [foreign domestic helpers] from job-hopping frequently and working illegally after premature contract termination. However, its main purpose, the department said, was to allow sufficient time for FDHs to prepare for their departure.

Also unchanged since before the Handover is a law barring migrant domestic workers from the right of abode in the city. The only difference, Villaneuva said, between then and now, was a 2013 Court of Final Appeal ruling, which made it a more definite legal decision.

In March that year Hong Kongs highest court sided with the government to overturn a High Court judgement from 2011 that described the law excluding migrant domestic workers from residency as unconstitutional, essentially ending years of campaigning on the matter.

The live-in rule, which mandates that migrant domestic workers reside with their employers, has always existed, but it has become a more stringent requirement. In a 2003 Legislative Council (LegCo) document, then-chief secretary Donald Tsang laid out his recommendations to improve the existing mechanism for admitting FDHs [foreign domestic helpers] and to prevent exploitation of the migrant workers, among them strict enforcement of the live-in policy.

The Labour Departments spokesperson said that the live-in rule underpins the long-established Government policy that priority in employment should be given to the local workforce It is along this policy objective that live-in FDHs have been imported since the 1970s to meet the shortage of local live-in domestic helpers.

Allowing migrant domestic workers to live out from their employers would be contrary to that policy and would directly expose local domestic helpers to the competition of FDHs, the department said, adding that the requirement was laid out in migrant domestic workers standard employment contracts (SEC). In other words, FDHs are fully aware of the live-in requirement before signing the SEC and that they are admitted to Hong Kong on such basis.

According to Villaneuva, however, the requirement does nothing to prevent exploitation as Tsang suggested, rather the live-in rule is actually a policy that promotes modern-day slavery. Despite decades of organising against the policy, it was upheld by the Court of Final Appeal in 2020.

Junko Asano, a PhD candidate at Oxford researching migrant workers, told HKFP that in spite of the incredible advocacy of migrant domestic worker unions, labour associations and NGOs since the 1980s, migrant domestic worker rights have remained stagnant because the Hong Kong government relies on cheap labour of migrant domestic workers to reduce the burden of care work on local women and to enable them to enter the workforce.

Although the migrant domestic worker movement has struggled to fundamentally change the foreign domestic helper scheme in Hong Kong, it has been successful in preventing the backsliding of migrant domestic workers existing rights, Asano said.

In the aforementioned 2003 LegCo document, Tsang endorsed a HK$400 levy for the employment of FDHs to be paid by their employers, and a HK$400 pay cut for migrant domestic workers minimum monthly wage of HK$3,670 to take effect on April 1, 2003. The pay cut would reflect downward adjustments in various economic indices, Tsang wrote.

The amount of the levy was exactly the same amount as the HK$400 monthly pay cut. So we say that its actually the domestic workers who subsidise the employers with their levy, Villaneuva said.

The proposals sparked mass protests, with several thousand migrant domestic workers taking to the streets over several weekends, but to no avail. In late February, Tsang announced that the government would proceed with both the levy and the wage cut.

It was at this moment that the AMCB decided to shift its focus, Villanueva said. We decided we should no longer be on the defensive side. We had been under attack for so long, we should now be on the offensive side. And so we shifted the campaign to wage increase now.

From 2005 to 2008, and from 2011 to 2019, migrant domestic workers minimum monthly salary increased incrementally. Of course, it took us several years to recover the HK$400 lost, Villanueva said.

For Eni Lestari, the founder of the Association of Indonesian Migrant Workers in Hong Kong (AKTI-HK) and chairperson of the International Migrants Alliance, this was a successful shift. The wage has gradually increased, Lestari told HKFP on the phone from her family home in Indonesia, which she was visiting for the first time in three years.

Lestari discovered activism after leaving her first employer in Hong Kong, in 2000. I was underpaid no day off, I was maltreated I did not have a phone, she said. She negotiated one day off a month in exchange for a HK$100 pay cut to her monthly salary of HK$1,800 significantly below the minimum monthly wage of HK$3,670 and after seven months ran away to the Mission for Migrant Workers.

Thats when I learned about rights, empowerment, organising from other nationalities. Thats how I became an activist myself, she said. She founded AKTI-HK in October 2000 and set about campaigning against the systemic underpayment of Indonesian domestic workers and the high agency fees they faced.

For Indonesians, since 2000, our focus has been on empowerment, awareness, empowerment, awareness, Lestari said.

But of course there were other campaigns with AMCB. We were fighting against the two-week rule, the live-in policy, long working hours, and then physical abuse, and different types of abuse. Even [though] we have our own problems, we have common problems.

As one of five migrant domestic workers who challenged the HK$400 levy in the courts, Lestari was integral to fighting against what she has called a discriminatory tax on migrant domestic workers. Despite losing their appeal, the levy was suspended in 2008 and scrapped in 2013. Lestari considers its withdrawal one of the big achievements of the migrant movement in Hong Kong.

Other milestone moments in the movement emerged from moments of crisis. Sringatin, the chairperson of the Indonesian Migrant Workers Union, pointed to the case involving Erwiana Sulistyaningsih, who was abused at the hands of her Hong Kong employer, Law Wan-tung.

The case made international headlines when images of a bruised and battered Sulistyaningsih emerged in 2014. Law was given a six-year sentence after depriving Sulistyaningsih of food, forcing her to sleep on the floor, burning her with an iron and beating her with mops, a ruler and a clothes hanger, leaving her scarred for life.

Sulistyaningsih went on to become the face of a movement advocating reform for Hong Kongs migrant domestic workers, and Sringatin, Lestari and Villanueva agreed waking Hongkongers up to their exploitation.

Until Erwianas case happened, and it became public, there was really no more debate about modern-day slavery happening in Hong Kong, Villanueva said.

When there is a big case, public opinion changes, Sringatin said. But it really depends on us [to keep the momentum going]. How we deliver the message, how we can make them understand what we are doing in Hong Kong and our situation, said Sringatin, who came to Hong Kong from Indonesia in 2002 and like Lestari was a victim of injustice.

Even the way people address migrant domestic workers carries meaning, Sringatin said. I think this can really change the perspective, she said, adding that the term helper which is still used by the government and many employers in the city makes it seem like you dont have any skills, you dont have value because you just help.

Domestic worker its [about] respect, and [acknowledging that] you have rights as a worker so this is very important to educate the public.

Since Beijing implemented national security legislation in Hong Kong in June 2020, at least 57 civil society organisations including unions, churches, media groups, and political parties have disbanded, including several that aligned with the migrant movement.

Recalling his early days with United Filipinos in Hong Kong in the early 1990s, Villanueva said: Every time there was a campaign or a protest we would go to the office of the HKCTU [Hong Kong Confederation of Trade Unions] and they would allow us to use the rooftop of their office in Yau Ma Tei, and that is where we would make our placards, our banners.

And even as the migrant movement became more established, we continued to have that solidarity. They were always in support of our campaigns. However, there were also struggles, Villaneuva added, saying that some members were caught in an identity crisis as unionists and as employers of migrant domestic workers. But the leadership of the unions were very supportive.

The solidarity went both ways, with migrant domestic workers supporting the Union of Hong Kong Dockers during their 40-day strike in 2003. When they held several weeks of strikes, migrant workers were there to Kwai Chung, in the port area, and we delivered food, water, drinks to those who were striking, Villanueva said.

Some of the workers were crying because we were apologising, saying we can only give you this, we dont have much money, but at least we want to stand in solidarity with you.

Villaneuva said that support continued until very recently.

Those who were very supportive of the migrant cause, weve lost many of them in the legislature, and then of course, some of the groups that used to express solidarity with the migrant workers, they no longer exist, he said.

It has affected activists ability to lobby the Hong Kong government, Villanueva said. Its more difficult now.

Sringatin echoed him, calling engagement with the government very formal. We just send a letter, a petition. [To have] dialogue is a little bit difficult.

Lestari is more explicit. The Labour Department doesnt entertain any requests. It will invite us only once a year, during the MAW [monthly allowable wage] review, and thats all. Either they dont respond or they use Covid as an excuse. They have closed the door, she said.

The Labour Department spokesperson told HKFP that The Hong Kong Special Administrative Region Government attaches great importance to safeguarding the rights of foreign domestic helpers in Hong Kong and maintaining Hong Kong as an attractive place for them to work, adding that FDHs enjoy equal protection and entitlements as local workers.

Villanueva acknowledged that the Covid-19 pandemic had impacted both lobbying efforts and the ability to stage protest actions.

We dont know if after Covid, once we go back to the streets and much more active engagement with the government, we really dont know how it will look, he said.However, Asano said that she expected the movement to continue. I doubt that migrant domestic workers organising efforts going forward would be significantly impacted, she said.

Even though its now challenging to gather in big groups, migrant domestic worker activists can still meet in small groups and relay their concerns to the government through press conferences, dialogues, petitions and other means.

Regardless of how the movement looks in months or years to come, Villanueva, Lestari and Sringatin as well as countless migrant domestic workers and activists in Hong Kong will continue to fight for their rights and their welfare. Thats the only way to do social transformation, Lestari said. If we want to change we have to rely on ourselves and find ways to change things from the ground up.

In Hong Kong, were just strangers, Sringatin said. We need friends who can support us.

Villanueva said he believed that there was significant public support for migrant domestic workers in Hong Kong, and I think the proof of that was during the fifth wave of Covid.

After stories emerged of Covid-positive migrant domestic workers being denied treatment and being forced to sleep on the streets stories that echo those told during the SARS outbreak in 2003 migrant workers groups launched an emergency response appeal.

We were so overwhelmed with the outpouring of support, Villanueva said, clearly emotional. Our combined fundraising was able to reach probably more than HK$2 million. Thats why I can confidently say that there are many people in Hong Kong who are supportive of migrant workers. And because of that, we dont lose hope.

He added: The issues we had before, they are the same if not more than we are facing now. We just have to continue. Stopping is really not an option.

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Hong Kong 25: Migrant domestic workers have long fought against reversals of their rights. They're not stopping - Hong Kong Free Press

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Bitcoin Prices Rally. A Key Correlation Is Now in Crypto’s Favor. – Barron’s

Posted: at 9:13 am

  1. Bitcoin Prices Rally. A Key Correlation Is Now in Crypto's Favor.  Barron's
  2. Crypto Price Today Live: Bitcoin holds $20000; Ethereum, Dogecoin, Shiba Inu gain up to 5%  Economic Times
  3. Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000  NewsBTC
  4. Cryptocurrency Price Today: Bitcoin Price Today Flat at $20,000; Ether, Dogecoin Rise  News18
  5. Top 3 Price Prediction Bitcoin, Ethereum, Ripple: What needs to happen for cryptos to recover  FXStreet
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Bitcoin Prices Rally. A Key Correlation Is Now in Crypto's Favor. - Barron's

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Investors Take Bitcoin Off Exchanges as Crypto Winter Settles In – Bloomberg

Posted: at 9:13 am

  1. Investors Take Bitcoin Off Exchanges as Crypto Winter Settles In  Bloomberg
  2. This is When Bitcoin (BTC) Will Say GoodBye To Bearish Trend!  Coinpedia Fintech News
  3. Bitcoin on-Chain Analysis: New BTC Addresses Reaches All-Time High  BeInCrypto
  4. Bitcoin Investors Likely In Hibernation Mode As Crypto Winter Deepens  NDTV Profit
  5. Decline In Bitcoin Active Addresses Suggests Market Is Purging Paperhands | Bitcoinist.com  Bitcoinist
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Its Been a Boring Week for Bitcoin and Ethereum Prices. Dont Expect It to Stay That Way, Experts Say – NextAdvisor

Posted: at 9:13 am

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Bitcoin and ethereum have been boring lately.

Considering 15% daily swings are the norm in the crypto market, prices havent moved much in the last few days, with bitcoin holding steady near the $19,000 to $20,000 range and ethereum floating around $1,100. The two largest cryptocurrencies seem to be hovering around their current price levels with no clear direction in sight.

At this point, $19,000 to $20,000 is quite simply prior highs from the last major bull market in 2017, says Stphane Ouellette, CFA and founder of FRNT Financial, an institutional capital markets and advisory platform focused on digital assets. In other words, its difficult to predict what happens next and when. The bitcoin and ethereum futures curves are completely flat, implying that the market is also entirely uncertain of future direction, he says.

Still, the crypto market remains under intense pressure, with the possibility looming of another downturn. How low bitcoin goes in the coming weeks or months will depend on whether the stock market made a bottom and if no major crypto company falls into liquidation, according to Edward Moya, a senior market analyst at OANDA, a brokerage firm.

A plethora of bearish crypto headlines continues to drag down bitcoin below key technical levels. Sentiment will take some time to improve, especially after many anticipated crypto deals are falling apart, says Moya, referring to crypto exchange eToro abandoning a deal to go public via SPAC merger, while many troubled companies like BlockFi and Voyager are scrambling for deals to stay afloat.

Bitcoin on Wednesday was up nearly 2.5% in the last 24 hours, trading near $20,000. Ethereums price held steady near $1,100, up 3% in the last 24 hours. Though the two largest cryptos have experienced a small rebound in the last day, experts say were not out of the danger zone yet.

Bitcoin and ethereum have lost more than two-thirds of their value since last November, and experts predict crypto prices could drop even further now that bitcoins price has dipped below $20,000 several times in recent weeks. On top of that, investors are still feeling uncertainty about the current economic conditions like surging inflation, a potential recession in the U.S., rising interest rates, and a shaky stock market.

Bitcoin is stuck in its current trading range because of the nervousness of market participants, says Joshua Fernando, CEO of eCarbon. They have seen wild fluctuations in the past few months that have devastated the market, so it is reasonable that they are now trading cautiously.

Martin Hiesboeck, head of blockchain and crypto research at Uphold, says bitcoin is not moving much below or above the $20,000 level because of lack of stimuli.

There is no doubt that the market is waiting for macroeconomic news and less tension in geopolitical matters with the war in Ukraine, the specter of inflation, and possible recession being by far the biggest worries, he says.

So, what should crypto investors do in light of this? Nothing, experts say. If youve invested in crypto for the long-term using a buy-and-hold strategy, price swings are to be expected and big dips are nothing to be overly worried about.

Experts recommend keeping your cryptocurrency investments to under 5% of your portfolio, as long as your crypto investments dont stand in the way of your other financial goals. Always prioritize saving for an emergency, paying off high-interest debt, and contributing to a traditional retirement plan before ever investing in crypto. If youre a good spot financially and ready to enter the market, experts say now may be a good time to buy bitcoin or ethereum while prices are low, keeping in mind that prices could fall down more.

Perhaps like equities, investors just got a little carried away in the buy everything frenzy of 2021 and are sitting on the sidelines waiting for signs that equilibrium has been reestablished, and the bull market is back on, says Fernando.

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From FIRE To Bitcoin: One Canadians Journey To Bitcoin – Bitcoin Magazine

Posted: at 9:13 am

This is an opinion editorial by Boomer, a long-time and active member of the financial independence/retire early (FIRE) movement and a contributor at Bitcoin Magazine.

It has been exactly one year since I started my Bitcoin journey, and after being inspired by meeting several amazing Canadian Bitcoiners over the past few weeks, I want to share my story. In some ways, my orange-pilling has been the greatest thing to ever happen to me, but it has also been extremely trying. I guess you can compare it to The Heros Journey.

Ive been a working-level economist in the Canadian government for about eight years. Im fortunate to have a career as a public servant where Im able to help people. I feel honored to serve Canadians and make a positive difference for my country. When the pandemic hit in March 2020, I did my part to help out. I followed mandates and restrictions, and I genuinely felt like I was doing the right thing.

The isolation and loneliness were very tough. As an extrovert whos used to a lively and collaborative environment where routine and the sharing of ideas and thoughts were important, working from home was absolute torture. For years, I had been quite active in the FIRE (financial independence/retire early) community and started a financial literacy coaching company. Like most people in the FIRE movement, I dismissed Bitcoin as an interesting but likely passing fad. I could see that long-lasting pandemic lockdowns would likely cause supply shortages, and the combination of central bank money printing and government stimulus would be inflationary in the longer term. I started to consider certain inflation hedges for my own investment portfolio and thought that maybe my coaching service could differentiate itself in that way. I started my orange-pill journey with the intention of learning how exactly bitcoin would fit into an inflation-hedging strategy, but I knew it had a place.

Ive been an avid podcast listener for well over a decade, and I will often pick a topic and listen to as many podcasts as I can about it until Im ready to jump to a new topic. I went into learning about crypto in the same way. While I could see and understand the general economic aspects of bitcoin and how it could be digital gold, Ive always lacked the computer science and technology skills to feel confident about jumping into the world of cryptocurrencies. I guess I just felt too intimidated to really dive in. I couldnt make the distinction between crypto and bitcoin, but when I decided to commit to learning, I went in with an open mind. I wish I could say that I recognized these altcoins as shitcoins right away, but I didnt. Despite not truly understanding what they were, I created a modest portfolio of the top-10 cryptocurrencies by market capitalization in an attempt to mimic what a cryptocurrency index fund would look like.

In the meantime, I was listening to podcasts from Robert Breedlove, Peter McCormack and Pomp, who were all telling me that bitcoin was the only true cryptocurrency. I remember listening to Breedloves series with Michael Saylor in mid to late June 2021 and feeling things start to fall into place. This is when I really started down the rabbit hole. I ordered a copy of The Bitcoin Standard, and I spent the summer consuming as much Bitcoin content as I possibly could. I created a Twitter account devoted strictly to Bitcoin in September, and Ive been trying to contribute as much as Im able to the Bitcoin community ever since.

If summer 2021 was my introduction to Bitcoin, fall was a honeymoon period. I had so much excitement and I wanted to share it with as many people as I possibly could. Since COVID-19 restrictions eased a bit, I set up a FIRE meetup in early October to talk about how bitcoin fits into a FIRE lifestyle. Over the years, Ive organized about 10 of these kinds of meetups where people share ideas on how to save money, maximize credit card rewards and live with purpose. A normal turnout for one of these events was around eight people; my Bitcoin event brought out a dozen. I didnt realize it at the time, and looking back on it, I know that I wasnt anywhere near qualified for it. It was around this time that a local Bitcoiner met with me for a coffee. The first time that I talked about Bitcoin with a Bitcoiner in person.

By the end of 2021, I had completely sold out of my altcoins and was completely in bitcoin. The song of the shitcoin siren is tempting, and most of us fall for it at some point in our journey. Thankfully, I didnt learn this lesson the hard way. I was able to sell out of my positions at a slight loss, and I consider that loss the price of my Bitcoin education. It was around this time that I also learned the importance of self-custody.

As anyone whos dived deeply into the rabbit hole knows, there are some parts of the journey that make you question previously held beliefs and can change your views on certain aspects of the world around you. I realize that this is tough for everyone, but try doing it alone during another COVID lockdown while you live in Ottawa in the winter.

By the time the Freedom Convoy was being reported on the news, I was already questioning a lot of the things I was seeing. When the convoy began to make its way to Ottawa, I decided to follow it. I literally drove alongside the convoy across several Canadian provinces and saw people waving Canadian flags as they gathered on overpasses. It was an absolutely surreal experience that Ill never forget.

It lifted my spirits to see community again after two years of lockdowns. It was also heartwarming to see Quebecers and Albertans chatting in broken English at the protests. I grew up in the 1990s, at a time when there was a genuine rift in Canada between French-speaking Quebec and the rest of Canada. This divide was extra impactful on me, since my mother is francophone and my father is anglophone. Something special happened in Ottawa this winter, and it saddens me that many maybe even most Canadians still havent realized it yet.

I was aware of what the Bitcoin community was doing to support the Freedom Convoy. I followed the Twitter threads and listened to the podcasts. I knew that Canadian Bitcoiners were stepping up to do what they felt was right in order to support the movement. I wanted to help so badly, but I was afraid. I was afraid that if I contributed in any way, I would be putting my career at risk. I also knew that I was just some pleb with 250 Twitter followers that nobody knew. How could I possibly help, even if I wasnt a coward? At its core, Bitcoin is about proof of work, and I hadnt done the work at the time.

I was invited to a Bitcoin meetup organized on Twitter that happened while the convoy was in town. Several Bitcoiners that I had been following for a while had come to the capital to experience what was happening in person. I can only speak for myself, but friendships built through orange-pilling feel special. This was the kind of community I was searching for.

In the months since the trucks left Ottawa, Ive made it a focus to learn as much as I can and to let my curiosity take me wherever it goes. There have been times when I felt burned out and pessimistic from the journey. The first year of a Bitcoiners path isnt always easy, but it got better for me as I met others who had gone through it. Im continually amazed at how much of my preconceived notions have been questioned, and much about how I viewed money and economics has been relearned. Its humbling and stimulating at the same time. Its such a unique experience, but Im grateful for those who have come before me. I know that Im still early in the journey, and there will be more trying times ahead, but I know that I wont be dealing with them in solitude.

Every time I meet a fellow Bitcoiner, I leave the conversation feeling energized. Its amazing how people with all sorts of backgrounds and interests can find common ground in Satoshi Nakamotos creation. Im so incredibly bullish on bitcoin, and I feel this way because of Bitcoiners.

Im still trying to figure out how I can best contribute to this community, but I know this is where I belong. Maybe just being in the community is enough, but for the past few months, Ive felt a strong desire to create something. I still dont know what that is, but I know that Ill find it if I keep surrounding myself with the great people that Ive met on my journey. I came for the inflation hedge, lived through a moment in Canadian history, and now, Im sticking around through a bear market to build a better world.

This is a guest post by Boomer. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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How Long Will It Take for Bitcoin’s Price to Exceed $30K Once Again? – CoinQuora – Live Crypto News

Posted: at 9:13 am

Bitcoin has fallen below $20,000 twice in recent weeks and remains under pressure. On-chain, crypto analytics tracker Santiment posed a question to its followers, asking when they think Bitcoins price will hit $30,000.

Over 42.4% of the poll participants responded in the affirmative, revealing it would be over 0-6 months from now. Furthermore, 25.1% of the polls were optimistic that it could break above $30,000 in the next 6-12 months from July 6 while 22% of the votes represented one year from now. Interestingly, 10% of the polls expressed an even longer wait, with Bitcoin never hitting $30,000 again.

The current crash has caused many to worry about the future of Bitcoin and the cryptocurrency market in general. However, some experts believe the crypto market will bounce back from the current crash in the next few months. Others think that investor wariness is going to persist in the near-short term.

The current market conditions are a major factor influencing when Bitcoin will return to $30,000. Investor confidence has been shaken in recent weeks by a series of crashes in global stock markets. Bitcoin is struggling to hold onto the $20,000 level. If Bitcoin breaks below the recent low of around $17,500, there isnt much support until the $14,500 level.

The $30,000 level is key for Bitcoin to see a continuation of the uptrend. The cryptocurrency would need to close above this level in the next few days or weeks for the bulls to gain traction.

Bitcoin has only been above $45,000 for a few short stretches over the past six months and hasnt been above $50,000 since December 25, 2021. Amid the ups and downs, Bitcoins current price is a long way from the latest ATH it hit in November when it went over $68,000. But even with the recent decline in price, Bitcoin is still more than twice as valuable as it was just a couple of years ago.

Despite the volatility and recent slumping price, many experts still say Bitcoin is on its way to passing the $30,000 mark.

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How Long Will It Take for Bitcoin's Price to Exceed $30K Once Again? - CoinQuora - Live Crypto News

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Bitcoin-friendly Prspera hits back at controversy in The Guardian – Cointelegraph

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The leadership of the crypto-friendly charter city of Prspera in Honduras has hit back at reports it is facing a backlash from residents of the neighboring community of Crawfish Rock over its expansion plans.

A Tuesday article from The Guardian reported the special economic zone, touted as an island paradise with low taxes/fiscal responsibility, luxury homes and crypto-friendly regulation,has seen pushback from some residents of the Crawfish Rock community.

Some residents are reportedly concerned about being displaced from their homes due to Prsperas potential expansion plans, with the article describing the projects headquarters as sitting amid a landscape scarred by a bulldozer and deep holes dug for the foundation of the next phase of construction.

Its another salvo against the Bitcoin-loving city, which has been battling with the Honduran government after it repealed a Zones for Employment and Economic Development (ZEDEs) legislation in April a key piece of legislation that would allow it to operate as a self-governed fully autonomous zone.

A lengthy Twitter thread from Prspera and articleby general counsel Nick Dranias on Wednesday, however, claimed that articles such as the one from The Guardian are just another example of a barrage of lies and misinformation from the mainstream media:

Drani outlines three key myths allegedly being disseminated by mainstream media including:

Myth #1: The Prspera team did not adequately socialize the project prior to launch.

Myth #2: Prspera is an ideological/crypto/libertarian project.

Myth #3: In Honduras, the Prspera ZEDE expropriated land from locals.

A Prspera representative told Cointelegraph that, in general, the community response has been positive bar a select few:

Prspera Global also claims on Twitter that the supposed bulldozer scraped lands that are construction sites for environmentally friendly low-cost housing available to any islanders, with the building jobs serving as a source of employment for the local community.

Prspera has been locked in a legal standoff with the government since President Castro repealed the ZEDE law in April, which would give the project 12 months to register under a different framework such as a Free Zone, which would offer tax cuts but not allow self-governance.

At the start of June, Prspera submitted a request for government consultations under the Investment Chapter of the Dominican Republic-Central AmericaUnited States Free Trade Agreement (CAFTA-DR), in a bid to maintain its ZEDE status under the legal terms of the initial agreement.

Related: Bitcoin exchange outflows surge as 'not your keys, not your crypto' comes back into fashion

Honduras Prspera Inc. has remained staunch that its registration as a ZEDE has a valid legal stability for at least another 50 years due to the legal framework of the agreement it signed with the government back in 2017. In a June 4 blog post, the firm noted that:

The company stated it hopes to avoid an international investor-state arbitration and hopes that the government will act in good faith to the initial ZEDE agreement. The firm plans to invest hundreds of millions of dollars more in the coming years. In April, Honduras Prspera Inc. raised $60 million to invest in the project despite the ZEDE repeal.

The representative added that the government is yet to formally respond to our request for official consultation.

Prspera is a privately-managed settlement in Honduras managed byHonduras Prspera Inc. The initial size of the Prspera Village is 58 acres and contains areas for its headquarters, housing and areas for businesses to set up shop. Its size can grow over time if local landowners agree to integrate their properties into the ZEDE territory.

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Bitcoin-friendly Prspera hits back at controversy in The Guardian - Cointelegraph

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Bitcoin has ‘stolen the show’ from gold, says RP Stoeferle – Finbold – Finance in Bold

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Ronald-Peter Stoeferle, the managing partner of investment management firm Incrementum AG, has suggested that Bitcoins growth in recent years has overshadowed gold as the two assets tussle for the presumptive store of value status.

Stoeferle noted that Bitcoins increased coverage would play a part in the assets becoming a risk-off investment, especially with the input of institutional investors, he said during an interview with Finews Asia published on July 7.

According to Stoeferle, the increased attention towards Bitcoin has triggered some investors to discover gold eventually in search of a store of wealth asset.

Bitcoin has somewhat stolen the show from gold in recent years in terms of media coverage. Looking at the money flows, I dont see any central factor for the gold price development here <> Bitcoin buyers tend to be younger, technology-savvy and are often concerned about our monetary system. Many crypto investors who have understood Bitcoin eventually go on to discover gold, said Stoeferle.

The managing partner added that Bitcoin would fully establish itself once 99% of current cryptocurrencies are wiped out of the market. Stoeferle stressed that Bitcoin is a clear distinction from the rest of the market, growing as monetary technology and as a financial upgrade with similarities to gold.

Bitcoin is also getting stronger with each holding. The concept of combining two alternative monetary asset classes in one fund is appreciated by our investors, he added.

For the long term, the investment manager stated that Bitcoin has a better chance of surpassing gold if the flagship crypto continues to establish itself in the next few years.

His projection of Bitcoin price correlates with a previous assertion that the crypto will undergo a significant price evolution in the coming years.

Despite the ongoing bear market, Stoeferle noted that the next phase of Bitcoins price growth is yet to begin, and the next value will be driven by the assets growing status as a hedge against inflation.

Notably, amid a high inflationary environment, Bitcoins price has struggled, currently attempting to sustain its value above the crucial $20,000.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Featured image via Kitco.comYouTube.

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Bitcoin has 'stolen the show' from gold, says RP Stoeferle - Finbold - Finance in Bold

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Argo Blockchain the Latest Crypto Mining Firm to Dump Bitcoin – Decrypt

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Argo Blockchain PLC has become the latest Bitcoin mining company to have sold more Bitcoin than it mined in a month.

According to a recent update, Argo sold 637 Bitcoin (BTC) in June at an average price of $24,500, bringing its total revenue from Bitcoin trades last month to $15.6 million.

In June, Argo mined 179 BTC, an increase of 55 BTC from May. Junes haul only accounts for about 28% of all the Bitcoin the company sold last month, however.

Argo said that the proceeds from last months Bitcoin sell-off are being used to fund operating expenses and growth capital, as well as to reduce obligations under a BTC-backed loan agreement with Galaxy Digital."

As of June 30, Argo holds 1,935 Bitcoins, 210 of which are Bitcoin equivalents.

It has an outstanding balance of $22 million on the Bitcoin-backed Galaxy Digital loan.

Data by Arcane Research revealed that publicly-traded Bitcoin miners, like Marathon Digital and Riot Blockchain, sold more Bitcoin than they mined in Maya huge change from the first four months of the year, when miners sold just 30% of their earnings.

Jaran Mellerud, an Arcane Research Bitcoin mining analyst, wrote: If they are forced to liquidate a considerable share of these holdings, it could contribute to pushing the Bitcoin price further down.

On Tuesday, an update for investors in Core Scientific said that the NASDAQ-listed firm also sold 7,202 Bitcoin ($165 million) last month at an average price of $23,000, leaving it with just 1,959 Bitcoin.

The massive sell-off was to cover increased overheads at a time of historic inflation, said chief executive Mike Levitt.

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Argo Blockchain the Latest Crypto Mining Firm to Dump Bitcoin - Decrypt

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