Testing deregulation can help fight COVID-19 by Vipin Vitell and Akash Kumar, an audio misis wire narrated by Million Quinteros.  Unfortunately, the saying has come to haunt India's fight against the COVID virus. The Indian Council of Medical Research, or ICMR, stringently regulates which private labs can and cannot test for the virus. The ICMR licensing rules are intended to help consumers by protecting them against fraudulent labs. These regulations have, however, had quite the opposite effect. The ICMR regulations trampled private initiatives to test for the virus in the early stages of the pandemic, and they continue to limit our ability to detect, treat, and quarantine patients. The fight against COVID-19 would benefit from a comprehensive deregulation of the market for testing. The ICMR regulations are based on the belief that the market for medical testing would fail in the absence of the quality standards set by the agency. After all, most consumers know little about medical science. They are unlikely to be able to tell good tests from imposters. With the possibility of fooling consumers in sight, phony private labs would mushroom. These labs would generate greater profits than genuine labs, as dummy tests cost pennies. Without government regulation, the story goes, the supply of dummy tests would far outnumber that of true tests. Given the low likelihood of getting a true test, rational consumers would see no point in paying for tests. They would no longer demand tests, and as a consequence, labs would no longer sell them. This is the usual story of how markets, riddled with asymmetric information, would fail in the absence of government regulation. Told by George Akerlof in The Market for Lemons, Quality Uncertainty and the Market Mechanism. Most regulators are aware of the market failure story in one form or another. What is less known, however, is the penultimate section of the Akerlof's paper, in which he discusses markets' institutions that can counteract the problems created by information asymmetry. This is critical because the problem of information asymmetry between producers and consumers is not limited to the market for medical testing. It is rampant in markets for all goods and services. The root cause of information asymmetry is the division of labor. There is no information asymmetry in a Robinson Crusoe economy, where a single man produces all of what he consumes. In an economy with division of labor and exchange, most individuals do not produce the goods they consume. In fact, one of the causes of the increases in productivity that comes with division of labor is that individuals develop specialized knowledge about the goods they produce. The flip side of the coin is that individuals know less and less about the goods they consume. Most people cannot repair the automobiles they drive or program the computers they use, let alone build these goods from scratch. So how do markets work despite asymmetric information everywhere? It depends on what we mean by markets. If we think of markets as places where people trade goods, one struggles to see why markets wouldn't fail in the absence of government regulation. But if we think of markets as places where people come together to solve problems associated with production and exchange, a wide variety of solutions open up, not the least of which is branding and reputation. Some private players realize that there are greater profits to be made by being truthful to consumers in the long term, rather than cheating them a few times. After all, consumers cannot be cheated forever. Those who come to know the poor quality of the car they bought or of the imitation medical tests they paid for are unlikely to patronize the seller in the future. Nor are they likely to recommend the seller to others. Reputation matters for profits, and suppliers are often more than willing to expose the poor quality of the products sold by competitors. Not long ago, detergent manufacturers in India would hold free washes to illustrate the performance of their product relative to that of their competitors. Wine festivals and Formula One races are but more organized versions of competition to ascertain quality. What matters is not that consumers know a great deal about the goods they purchase, but that competing sellers are willing to expose each other's quality. The relationship between firms is only one of the many ways in which markets resolve the problem of asymmetric information. In some markets, specialized firms emerge, which rate the quality of products sold by other firms. In financial markets, they are known as rating agencies. In some markets, the certification takes the form of franchising. McDonald's, for instance, ensures the prescribed quality standards in all its stores through frequent inspections, coupled with a high cost for violation. Hospital chains impose quality standards on affiliated physicians. And finally, there are web portals which maintain and sell customer reviews. Each of these methods of ascertaining quality differs in its enforcement mechanism. But they all point to the reality that markets are as much about quantity and long-term relationships as they are about prices and quantities. Not only is the market for medical testing likely to work without ICMR regulations, it is likely to work better. The COVID case is unfortunately illustrative. In the early phases of the COVID pandemic, the Indian Council of Medical Research effectively prohibited labs from testing for the disease. In the absence of these regulations, entrepreneurs would have seized the opportunity to make profits by expanding testing facilities in the wake of the pandemic. More recently, the ICMR has allowed a limited number of private players to test for the virus. Regulations, however, require that the labs use testing kits approved by the U.S. Food and Drug Administration, the European Union, or one of its own centers. This raises the costs of testing and thereby limits access. Without the ICMR testing kit regulation, competition among kit makers is likely to drive down costs, much the way the competition between automobile manufacturers drove down car prices in the post ambassador era. Regulations keep potential low-cost solutions out of the market for far too long. Mass testing requires a system capable of mass-producing kits at sufficiently low costs. Germany's success in fighting the virus is illustrative of some of these mechanisms at work. The corona death rate in Germany is orders of magnitude lower than in many other countries. One reason for Germany's success is a relatively freer market for medical testing compared to the United States and India, among other nations. Germany has been testing more than 100,000 people per week since late February. By April 20th, it had tested more than 25 persons per thousand. Compare this to India where the testing rate is less than one person per thousand. Private companies in Germany were able to mass-produce the test kits early on, as they were less burdened by a central regulatory body like the ICMR in India. The government of India has struggled with the paucity of testing kits and equipment, but the number of testing kits not unlike the number of ventilators and hospital beds is not an immutable given. Rather, testing kits are resources created by people under different institutional arrangements. Some institutional arrangements incentivize us to strive to serve our fellow human beings, while others generate sloppy and lethargic behavior. Germany's experience tells us that, in contrast to conventional wisdom, decentralized systems are likely to respond more effectively to pandemics than systems that depend on central directives. The COVID pandemic illustrates an often underappreciated cost of government regulation, the impeding of rapid market responses to new social needs. Government regulations often have more to do with the present than the future. They are not written to tailor our responses to unforeseen pathogens. Profit-motivated entrepreneurs, unlike government bureaucrats, have an incentive to predict possible pandemics, much the way hedge funds for a cast stock prices and automobile producers for a cast the demand for cars. Such forward-looking behavior is the key to predicting and acting within a reasonable timeframe to contain new pathogens. Regulatory reforms are in order, if we are to maximize our chances of successfully fighting pandemics. The next one might not give us as much time as the present one has. For more content like this, visit Mises.org.


The emergence of optical networks on the XS side is a relatively newer phenomenon. Relatively means it has been here for say last two decades. But at the core side optical networks have been there for quite some time. It is important to just look at the technology from the XS side perspective. How did it gain that much importance? And what are the variants of it? Specifically, we'd look at the optical networks in the context of NGNs. We'd explore the motivation and then we'd look at the standards which have emerged in the passive optical networks domain. Since the optical networks are a much higher data rate replacement of the traditional cable and DSL networks, it is the applications which determine if the optical networks are going to meet the due requirements. Although in the optical domain, the data rate that can be achieved is of the order of terabits per second or more. But at the end of the day, it is the end user using a certain application and the equipment that the user is using to determine the overall data rate requirement. The end user equipment that is typically used is normally a desktop or its variant with its own processing capability of a packet or a frame, the memory which is available in the form of a transmit buffer or a receive buffer and the availability of the interfaces through which this computer is going to put its data onto the optical network. Traditionally, we know that either it is the Ethernet or Wi-Fi. The optical network standards which have emerged as a consequence to the need for deploying fiber optic in the exercise are known as the passive optical networks. The most basic standard that emerged some time back is by the International Telecom Union, QDOT 834. This standard is primarily meant to interface the optical network with the ATM technology. Since the ATM technology is a switching technology at layer 2, the passive optical network serves as the physical layer for the ATM networks and this ATM integration with passive optical networks is known as the ATM passive optical network. It was proposed and later adopted by the ITUT, by the Full Service Access Network Working Group that was basically a consortium led by some companies from the telecommunication and optics world. The data rate that was poised for compatibility with the ATM was 622 megabits per second. It is the SDH sonnet hierarchy of STM level 4 at the downstream and the upstream it is STM 1 that is 155 megabits per second. Now the scope of integrating work from the exercise to the network side is between the central office and the user equipment. The next standard that proposes high data rates is the G.983. As the name suggests it is broadband passive optical network. Broadband passive optical network provides backward compatibility to the broadband technologies such as DSL and cable. Since the technology is all optical so it means that the data rates coming from the other broadband technologies need to be compatible. The data rates which are available in the downstream are STM 1, 155 megabits per second, STM 4, 622 megabits per second or even higher at the rate of 1.244 gigabits per second. The upstream however is only STM 1 and STM 4. The optical distribution that is how the overall distribution is done from the central office to the end users is also based on optical network and it is we have discussed it earlier on a device called a passive splitter. Typically in ITU standards the ratio is 1 ratio 32. It means one fiber strand actually splits into 32 outgoing fiber strands on the demultiplexer side. On the multiplexing side it is the 32 fiber optic strands that actually emerge into one optical strand. Then we have the ITU G.984 standard. This is actually known as the gigabit capable passive optical network or in other words GPON. Here the data rate is significantly higher for instance as compared to the last standard here it is double. That is instead of 1.2 gigabits per second it is 2.4 and in the downstream and in the upstream it is again 1.2 or 2.4 as you can see since there is a provision to have 2.4 gigabits per second in the upstream so there's a likelihood of implementing the symmetric service between the two endpoints. Here also the optical distribution network is passively deployed. An important consideration by the ITU and IEEE is it's quite interesting that when they move from one version or from one variant to the other IEEE and ITU look for significant gains in the data rates that they provide. A typical understanding in the ITU community is that a data rate increase should be twice or fourfold but in the IEEE community there's an understanding that the data rate can go as high as 10 times and we have seen that for instance when we moved from basic Ethernet to fast Ethernet to gigabit Ethernet. So it's an interesting analogy that we see here. Then in the IEEE arena we have 802.3 AH. Now we are well versed with 802.3 that is it's an Ethernet standard and 802.3 AH actually makes it an E-PON standard. E-PON actually means Ethernet Passive Optical Network. Here we are going to talk a lot about it but here for now we just have to understand that E-PON is basically providing access technology replacement using Ethernet. There is no more a LAN protocol here but Ethernet is a protocol that is used in the first mile or the last mile. So an entire suite of Ethernet protocols which include ARP, RARP are also used in conjunction with Ethernet. So Ethernet here is on the exercise. It works between the central office and the user equipment. Sometimes it is also known as Ethernet in the first mile or Ethernet in the last mile. It's again a jargon that is used by the consortium that promoted the deployment of E-PON across various exercise. Now let's look at the architecture for broadband passive optical network. Here we see certain entities. We've seen such a network deployment before. On the left hand side we have CO, the control office, central office. We have the OLT, the optical line termination unit. We have the ONTs on the user equipment side, optical network termination. The interface between the network and the service is known as service node interface and the interface between the user and the network is known as the user network interface. So we see on the service side we have SNI and on the user side we have UNI. Although there are no hard and fast rules because here you can see that a typical distance of 20 kilometers is encouraged. It's a physical distance but it can be extended logically up to 60 kilometers also. Here you can see again that like G-PON and like ATM-PON. Here also a typical splitter and aggregator is deployed in the ratio of 1 ratio 32 but it can be increased to 1 ratio 64 or in certain situations 1 ratio 128. So in B-PON what we conclude is that the data rate emphasis is to achieve broadband data rates of STM-1, STM-4 that is 155 megabits per second, 622 megabits per second. So in all using dedicated fiber to each user side or each customer premises and using respective ONTs to have a demultiplexed individual user traffic we can achieve such high data rates. Let's summarize the standardized bit rates which come from various PON standards. We've seen most of these. An interesting comparison here would be to look at the downstream and upstream bit rates which are placed across the B-PON, E-PON and G-PON. G-PON being the fastest goes up to 2.4 gigabits per second both for the upstream as well as for the downstream. An interesting observation can be made regarding the choice of wavelengths. Normally in optical communication low loss and low dispersion are the primary windows of transmission. So here we can see that in upstream 1.3 nanometers is used all across these different standards. In downstream there is a little bit of variation. 1550 nanometer is used all across, 1310 is used upstream all across but there is a slight modification depending upon the standard that we are talking about for instance in B-PON and G-PON we are seeing 90 nanometers but we don't see that in E-PON. An essential observation that you can right away make is that in E-PON it is mostly the ethernet traffic that is coming from the desktop users. So a higher data rate is not much of an expectation in E-PON which is coming from individual users but it can be catered for to be as high as possible and the transmission technology is also shown in the last row.


Welcome to digital asset news. Take a top stories and crypto currency and digital assets and bring them out of bite-sized pieces today We got some fantastic news coming from surprise surprise the Federal Reserve Bank as the president says Bitcoin is clearly a store of value and he's going to talk about the distinction between a store of value as far as bitcoin And central bank digital currencies So we'll take a look at that on top of the fact that hey a use case for dogecoin has been found and surprise surprise It's for docks and we're going to finish up just talking about a little Video I did a couple of days ago where I talked about Voyager and their updated user agreement and as far as 60 day withdrawals On top of some other things just to make some clarifications And we'll go over all those things but first take a look what's going on the markets today. It is April 22nd We're on 10 a.m. Or so and here's what we got in the market So we're still hovering above the $2 trillion market cap seems like that is like a nice little line Of support as things just kind of hover above that so I'm pretty happy bitcoin Still down 12 for seven days 3 24 hours, but it's still almost at 55,000 So not too bad a theorem is a big winner today at seven percent and their high market cap And everything's all kind of over the board uniswaps up 10 percent chain links six percent But you got some other ones doge down six percent And 12 percent for Solana layer two solution 12 percent almost for terra And it's just all the place So I just want you to notice that for trade the chain it takes a look at the sentiment and takes a look at all Of a bunch of data that is coming from twitter. They are scraping the internet They are scraping all the exchanges blog posts that kind of give us a sentiment of what's going on the market Where people are kind of going and long term you'll see right here again Bullish bullish bullish very bullish on most of the projects or neutral except for die But in the last day or hourly, it's a lot of neutral I think people are just kind of like wondering like where are we going? What's going to happen? Well, if you're a day trader or an investor, there's different theories about that But me personally, I still believe that bitcoin is going to go to 150k by the end of the year Not financial advice. I think that's where it's going to go and we're going to see a big altcoin boom Remember, we're only in april and we've got a long ways to go now Do I think that the bull run will last all the way until february of 2022? Yeah, not really But I do think that we've got a lot of room to run That's just my opinion and then lastly, let's take a look at if you're a big trader. I am not Using trade the chain. Let's take a look at sentiment analysis We're going to click on that projected range and let me blow this up so you can see it And uh, if you're a trader just look at see that projected range where it says 5.49 percent the very right side there That's what 90 at assurance. That's where the price is going to go which is up 5% And uh, 3 3 percent 2 percent below on the on the next four So if you're a trader look at digital note, litecoin and travala, cutum, aragon and palos And uh, that could be a big winner. Anyhow, that's what's going on there Let's take a look what's going on in today's top story But before we do that, I just want to say thanks to sponsors and friends of the show I trust uh, there's a little article that came out that I trust just passed 1 billion asset center management They had uh, 300 million in the in the first quarter of 2021. So now they are the largest Crypto IRA platform out there and I've been using them. This will be my second year And I have no problems with them. I just put the money in there Then it's going to be tax-free as I take it out when I hit 59 and a half I can also trade within my account Penalty free. There's no capital gains tax. Oh and also The ethereum and polka dot that I hold in there and then also cardano now Is that uh, it will actually The staking rewards that I get because I'll be able to stake in quarter two That means that those will also be tax and penalty free and also just so you know, uh, they use The custody solution curve, which was just acquired by PayPal. So no slouches in that department. Everything's very safe so if you have a Traditional IRA somewhere else an old employer plan like a 401k 403b military tsp if you're going to retire Then take a look at transferring over into crypto IRA not saying what to do But I would definitely take a look at them. I've done that myself link is in the description and uh, Viewers the show gets the first month for free. So That is I trust congratulations everybody over there and let's take a look at what's going on with the federal reserve. So I thought this was interesting because The federal reserve is not one to really come out and go, you know what cryptocurrency love it just fantastic stuff But uh, here we are for one of the federal reserve bank presidents going, you know, what definitely a store of value And we're researching it heavily and that was the biggest point that they're researching it heavily. So This is uh, robert kaplan federal reserve bank president for dallas And he explained that he would distinguish between bitcoin and central bank digital currencies or cbdc's he goes I would differentiate between a crypto like bitcoin and discussions that are being had about digital currency Such as the digital you want and he states look Right now bitcoin is a clear store of value and it makes a lot of sense to me and I was talking to my friend moat about this And as far as like what is a store of value because but how can it be really a store of value because we value it in dollars So wouldn't it just be dollars and I go Yeah, kind of but if you really think about it, it's not the dollars that we really care about It's what we can buy with those dollars. So 10 years ago one bitcoin could buy you Like a very expensive loaf of bread, right? And then of course one dollar could get you that loaf of bread and now 10 years later That same one bitcoin can buy you a tesla and that uh, and that bread doesn't cost you a dollar It's actually going to be like a buck 50 buck 75 depending on where you go at So it's all about the purchasing power of what you have So do you want to store it in the dollars which can look i'm not saying you should or shouldn't it's your choice But I think as far as a store of value Like artwork like land like gold and silver and now bitcoin they could could work itself out anyhow, he states uh The bank president says it's obviously made a lot in value that may keep it from spreading too far as a medium of exchange And what adoption but that can be uh change it and that will evolve and I think I was thinking about this yesterday actually because you know, we talk about Technology and really bitcoin is a technology. It's a new technology And I feel like and this is a very crude example Don't you know say I know there's a difference between the Netscape navigator and bitcoin. Gotcha I'm just saying And remember in the very beginning actually, I'm gonna use a better example In the very beginning when netflix came out I don't know if you remember that because I'm old I remember that and uh, I was like, well, this would be awesome if I could just sit in my house and just you know stream stuff That'd be great I went at the go to blockbuster and have to deal with all the crappy fees and everything else And then remember people would tell me that's not gonna happen because have you tried to download a video? You know how hard it is to watch a video on the internet these days in 2001 It's very tough or 19. Oh no 1997 1998 when the internet came about like it's impossible and that'll never happen Well, guess what works out pretty well and everybody's got it So same thing technology will catch up and who knows bitcoin may have a layer 2 solution where people are using it for Payments and whatnot and if they even could actually get across from their gas fees because remember we're very early so we'll see Uh to finish up the fed bank chief also confirmed that he and his team have studied intensely and will keep studying bitcoin Other crypto The discussions around the world and digital currencies are slightly different and what a digital currency won't necessarily be a Historic value digital currency like the digital yuan the digital dollars type of things And he states if you're worried about the value of underlying currency Digital currency is likely to be for example in china Tied the value of the underlying asset in this case digital yuan is tied to the yuan digital dollar is tied at the dollar That's it It's also a way of ease of payment domestic payments first getting money to where it's needed so again Central bank digital currencies I think we'll probably go far because people will trust them But in the end I think this time really moves forward. We'll probably use a lot more Digital assets that are on a distributed ledger and are decentralized. I could be wrong. That's my thoughts anyhow Let me just say in the comment section I thought it was interesting that the big that the bank just comes on goes. Yep store of value looks good Great because again, they don't care about store of value They're about currency and they're like we are not competing in this arena So if you want to do the store of value have added bitcoin we don't care But we're going to take over this currencies and that's where the fight really is going to happen As far as the currencies digital currency that could be that all right. Let's move on to our next piece.   You can do things you can pay people with it. It is fast, you know But there's a ton of those those those tokens and I just thought it was interesting I don't think it's going to be a world reserve currency. Sorry dogecoin holders I don't think it's going to dollar either But I didn't there's no 40 cents and I was wrong on that one But I thought this was pretty cool because a donor anonymously paid the adoption fees for 21 dogs They towed a beach floor to shelter on Saturday. So I'm like, man 21 dogs. It's thousand bucks What the fees it's a lot the donor dubbed doge community one big using crypto doge coin I put a thousand bucks of those funds towards the adoption fees of dogs that were currently ready to be adopted from Halifax Humane Society So great This is a of course people are going to say well anything any crypto can do that Well, sure they can but I just like the whole article about you know, like if you get if you get a lot of money Or you get a you know a good prosper you'd actually, you know give a little bit back and I I can appreciate that so I like the whole uh Dogecoin use and and the story and again This just brings crypto currency digital assets into the forefront of the public consciousness And that's all they really care about so people can get into our space Anyhow, let me know what you think about that piece and that is a great reminder for me as far as what I am supposed to do and As you know, let me just come over here Uh over at uh, Dante's crypto that's spinning above my head the whole time It's a hundred percent free website and if you go there There's a little on the very top depending if you're on your mobile device or on a desktop go to Ada staking we have a cardano stake pool doing pretty well so far Our rewards it's between four and six percent. We're a little bit above the industry average We're like at five point one two I think percent and pretty stable everything's going pretty well And uh in this stake pool we had vowed that we are going to give a hundred ada Every epic which is every five days Uh and yes, it's called epic. That's what Charles Hoskinson calls it So I don't want to hear in the comment section. You call it epoch. I have to say it every time. It's so annoying But uh, whatever hopefully I can get in in everybody's brains that that's how he says it epic. I don't care. So, uh So with this one We give a hundred ada every five days and I was a little bit behind So I had to play catch up over at kiva.org kiva.org is great because you you're not giving charity You're giving loans to people which in case Which in point they actually do pay back over one to three years and those loans We'll just keep giving those loans out over time So I'm thinking over like, you know one to five years We can start giving massive loans as the money keeps coming back and we just get you know, put it back to community I don't like giving straight to Charity charity so much because you never really know now with this one This is um was created by one of the founders of PayPal seems to be a good organization and this Uh epic we chose the march two group Which helps one energy system In order to have access to solar power for lighting changing and cooking. This is in Uganda, we also did a service use multi powers El milagro the miracle alone helped to refinance the sale of multiple containers of organic coffee for 177 different farmers and devs march one group. Uh, this was fighting and charging and cooking Uh for again in Uganda for the solar power. So Total was 287 and then we gave a little bit of Processing fees. So that's what we do if you want to follow us and actually give as well Because I think this might be a great year for a lot of people making a lot of money Look on the description below. There's a link for kiva.org and you can start making donations or loans micro loans to people who really need it and they'll pay it back and you can just keep loaning over and That's how I hope to help change the world That's it. All right. So let's get on to our last story of the day which Is going over this nice little video. I talked about a couple days ago Who was voyager people? It's all over the place. It really is I made this video because I'm getting a lot of complaints about voyager withdrawals and transfers and everything else and waitlist and Look growing pains. That's really what it comes down to and I said that I couldn't recommend voyager And I'll get to that in a second Because I feel like there's a lot of things going on. We've had Steve in the show multiple times We haven't over at alex masculine show I invest in people I I still don't have any doubts about a voyager and uh and steve and they're great I just think they're going through a lot of growing pains and uh, I Highlighted those and their new user agreement and just see you know I mean I get people on both sides I mean people like say hey, I did a I did a test I I sold two positions on voyager three days ago made the same day two withdrawals from my voyager account to my bank count And within one day the withdrawals were processed and completed And today just three days after withdrawals the two amounts received on my bank account No problems of voyager fantastic So there's that and there's also people like I have problems of voyager and that's just how it is That's in every single company. There's going to be good stuff and bad stuff.  Yeah, so what he's talking about here is 120 day Before throwing voyager because steve came on to look we're we have a 120 day plan We're going to get things really updated and we're going to train some more people Customer service is going to really start to really ramp up and we got it And he said this was an alex show. He's like we're in 75 days.   I'm not saying they can't handle it. I'm saying, you know what they're ramping up everything So should I keep pushing pushing pushing people into into a platform that really Just needs a little bit time to take a breather a refractory period and get everybody trained up. Why the heck would I do that? so it's the same thing and uh That's what I have so I asked the question. Would you tell your family to go in there? When these things aren't uh, you know going a hundred percent Maybe just tell them to wait maybe tell them like hey If you can go in just know that these things might happen because they're training everybody up There was a massive influx of people and that's just what it is. So I want to make mention of the user agreement and before we We start I need to make there's four sections. I need to to bear clarify what I said And first of all before I even go on Uh, the big question was rob. Did you sell your voyager tokens? No Rob, do you still believe in voyager? Yes Rob, what is your price prediction 30 dollars by end of year? I can't say any clearer than that. All right So consent to rehypothecate customer grants voyage of the right subject to applicable laws With it without further notice to customer to hold crypto held in customer's account in voyager's name or another name and to pledge Re pledge hypothecate rehypothecate sell land or otherwise transfer or use any amount of such crypto separately Or together with other property With all attendant rights of ownership and for any period of time And without retaining a like amount of cryptocurrency And to use or invest such crypto at customer's sole risk.    They got to put all these things. However Just so you know, this is legal speak and this is what it is. So let's move forward Two more pieces The refusal to allow withdrawals Voyager may refuse to allow us dollar withdrawals. Just so you know and three It says here the amount of such withdrawal is equal to or greater than the sum Of all deposits made into account within the immediately preceding 60 days So how that is interpreted to me is look If you put in 10,000 bucks And then within 60 days, you're like, I want to take 10,000 bucks out like wait, wait, what? Huh? Or I want to take out 11,000. What you can't take out more than you put in So that's the whole 60 day With a time as far as withdrawals. Okay, so they could say no, that's it So far I have not had no I have had lag periods That is very true and this has taken five to ten business days and some people will say this Well, Rob Dang it over at xyz Exchange I get it out in two seconds. Well, great good for you Go there. I don't know. I don't know what to tell you You know, right now There's a little bit more of kyc and aml if you don't like where you're where you're at go someplace else and uh, that's it so I got another for you No leverage cryptocurrency withdrawals. Uh, this is the big thing Crypto withdrawals because we got cash and we got crypto It says customer arranged withdraw and transfer crypto and the amount account to an external wallet Whatever else right customer understands that voyager may in its sole discretion delay Modify prohibit Any requested withdrawal including this so the withdrawal is being attempted within 60 days of a deposit Or a cryptocurrency in the account so within 60 days they're saying within 60 days For whatever for these reasons voyager believes such actions is proven in order to satisfy Anti-money laundering obligations. There's something going on. You didn't get the kyc of the aml like we're going to hold it for whatever else This I think is uh, one of the big problems about you know, they have to do some manual Checks as they get everything up to speed People aren't getting their cryptocurrency withdrawn and they're saying look, it's uh, we can hold this 60 days That's what it says Now they're going to do that for every single person. No, they're not But are they going to do it for some? Yeah, probably especially if uh, there's some things that look a little bit off Not to say that you're money laundering or whatever else, but I'm just saying that it could happen and uh, Look, these they have to go through it because they're a public company and finally I want to finish up with this So you're like, okay, Rob. Well that makes a lot of sense, right? And everything's good and everything else, right? Here's the thing remember all that So what we talked about getting interest in the last video, you know, they they're going to give you interest on your cryptocurrency And they're going to loan out things they're going to do they're going to hypothesize re and I'll pledge re pledge all that stuff But you can opt out however Customer may opt out of the interest program at any time by doing so on the app great But just so you know Customer understands and acknowledges that even if the customer opts out of the interest program Customer will remain subject to the term of section five account funding Regulatory treatment therefore, you know customer does not participate in the interest program Customer crypto will still be subject to being held by custodians other custodians Which may be located within the u.s. Or in a foreign jurisdiction held in the voyager's name or otherwise or Pledge, repledge, hypothecated, sold, loaned or otherwise transferred at customers sole risk And in voyager's sole discretion So even if you opt out things could still happen and that's really what it comes down to so look Look There's nothing without risk. We're in this cryptocurrency market and it's a pretty risky market Let's just be honest So if you want to go on this road, the reason I bring it up is to keep you informed I know for a fact you did not read the user agreement You know why no because nobody reads the user agreement and I'm just bringing it out to the to the forefront So I wanted to clarify everything I talked about the 6th day thing. Yes, it's in there Are they going to do it? They could if these kyc and aml things are are are not in effect You could opt out of the interest program, but they're still going to do all these things. They set it right there Are they going to do it all the time? I don't know. It's up for them. And then the last thing is that this I talked about how I can't recommend Voyager because of all the things that are going on and they're really getting things out of speed And I'm going to say this I still can't I still can't recommend it because right now Why would I recommend something and they have a met more influx of people? I'm just going to say look Uh, you could go you can go in But I can't just you know put it all all behind me and go Yeah, you should go in right now and I could recommend them and now I get a bunch of people going Hey, you recommended this and then I got all these I put in a a customer complaint or a or a chat or a service Uh ticket and I can't get any responses and it's been three weeks and you told me it was a great place I'm not going to recommend that so Uh, you can go to it Do it at your own risk and uh look around for other things I've got a great spreadsheet with a bunch of different exchanges and it's all up to you So now we will revisit this in the end of 120 days And I'll try to get steve on either this channel or alex's channel and we'll go from there Nothing changes and nobody gets a pass and that's just how it is. So you've made this far really appreciate it Thanks so much. Give me a thumbs up. That helps tremendously. Consider subscribing and that's it for today. Thanks so much See you on the next one


It is a great personal privilege and a high honor to introduce to you the President of the United States. Thank you. Thank you all. Thank you very much. Thank you, John. Well, I thank you all very much, all of you, for this wonderful evening and the privilege of being here. I must say that I was a little disturbed, nostalgia had seized me, the presence of Bob Hope here, and then when Drew Lewis introduced him, instead of me doing it, you see, back in Hollywood, when you did many benefits for worthy causes, if you didn't sing or dance and you were asked to appear at one of those, you'd always say, well, what can I do? And someone would always say, you can introduce someone else. So that was a function of mine. I've done it many times. As a matter of fact, I remember one night when there were seven of us standing here lined up to introduce Nelson Eddy singing shortening bread. But all I can say is it's great to be back in the United States of America. Now, if you see me glancing over in this direction a lot, it's because after my experience at Strasburg, I keep expecting the left side of the room to walk out. Truth is I never realized I had such a moving effect on left-wingers, but I want to set the record straight and say now that there's absolutely no truth to the rumor that Bob Dole and Bob Michael have asked me to speak before a special session of Congress. This may be called the president's dinner, but it's really your dinner. For the second year in a row, you've made this the most successful fundraising event in the history of the Republican Party as you've been told. And to all of you here tonight who've given so generously, you have my deepest gratitude. Your continued support is essential if we're going to keep America on the right track, growing stronger, braver, and freer every year. A lot of you know Ed Rollins, and many of you will be working closely with him in the coming months. And I just want to take this opportunity to say what an outstanding job Ed has done over the years working to make our hopes and ideals a political reality. Ted Welch, Drew Lewis, Jack McDonald, you've done a superb job making this event possible. To the members of the House and Senate who are here tonight, don't think I don't appreciate what it's like out there in the trenches. It's gotten to the point where you can't even have an operation in peace anymore without Bob Dole calling you in for a vote. Special thanks should go to Bob Dole and Bob Michael for their outstanding leadership on the Hill. We saw an example of that leadership last week when a John told you the Senate passed an historic bill to turn the tide of runaway congressional spending. Now Bob Michael has a somewhat different situation to contend with. I understand now that House proceedings are televised. Tip O'Neill is getting to be known as the JRU-ing of Washington, D.C. Maybe the House Democrats have been in power so long they've forgotten the basic courtesies due their opponents in a democracy. Suppose we just teach them a few manners in 1986. But we're up against a tough challenge in this next election. Being right doesn't automatically or immediately translate into political might without a lot of hard work. We're bucking an historical trend in midterm elections, but that's nothing new to us. For the last four and a half years, we've been bucking the historical trend and we've been winning with spending and tax cuts, tax reform, strengthened defenses, and support for democracy around the world. But then we were bucking a four-year trend when we came into office just by feeling good about America. They said these things couldn't be done, but we're doing them. And that's the main reason, I believe, that in 1986 we're not only going to keep control of the Senate but build a winning coalition that will break the liberals' paralyzing grip on the House. The American people will see that they have a choice between the party of action and the party of stagnation, between a party of doers and a party of do-nothings. Take the budget, for instance. The budget debate has been completely revolutionized. The question isn't any longer, can government spending be cut? Today, the only question is how much and where. Have you ever stopped to think that this is really about the first time that you have ever seen the two parties? And today the only difference between them is the argument about what should be cut, but both agreed that government spending should be cut. The Republican-controlled Senate has passed a budget that will shrink the deficit, prepare the way for tax reform, and help put our economy on a growth path through the end of the decade. The Senate Republicans have shown that they have the right stuff to make tough political choices by doing what everybody agrees has to be done. By putting the needs of the country above any short-term political interest, our Senate Republicans have shown courage and leadership, and the country will thank them for it. It awaits to be seen whether the Democrats in the House are up to this challenge. Will they shrink from this great moment and retreat into excuses in partisan politics? The deficits have been talking, or the Democrats have been talking about deficits for years. The coming budget vote in the House will be the measure of their sincerity. It will signal to the country whether they will cooperate in the business of running this country or, if they are determined to reduce themselves to the role of spoilers, detractors and negativists. If the Democrats in the House can't bring themselves to cut wasteful federal spending, there's always another option. Give me what 43 governors already have, a line item veto. I'll take the political heat. In fact, I'll enjoy it. Some Democrats in their effort to torpedo any constructive budget compromise are proposing drastic cuts in defense that would seriously threaten our country's national security and tax increases that could strangle our economic prosperity. We had a referendum on that idea last November. The American people overwhelmingly rejected it. We've already compromised greatly on defense by agreeing to freeze spending at last year's levels with only an adjustment for inflation. This was not an easy decision. There's no question about it. This will, temporarily, slow down our vitally needed defense buildup at a time when the Soviet Union is pouring unprecedented amounts of resources into their offensive military arsenals. But I've been assured that if I feel our national security is imperiled, I can come back to Congress for supplemental appropriations. Our leaders in the Senate have assured me of that. And if the Congress persists in making further reductions which could jeopardize our negotiating position in Geneva, I may take them up on that offer. As I said, there are still a few people also who want to raise your taxes. There are also a few people who still claim the earth is flat. As far as we're concerned with questions, we're concerned those questions were answered a long time ago, both of them. In case the taxaholics have any doubts left, however, I want to show them this. This is a letter given to me by Representative Connie Mack of Florida and Bo Butler of Texas with the signatures of 146 Republican representatives who have pledged to support a veto of any tax increase no matter how cleverly it's disguised. I carry this letter all the time. I sleep with it under my pillow. Whenever the job gets a little tough, I take it out and read it. And it really does make my day. I'm determined that 1985 is going to go down in history as the year of tax reform and further rate reductions. This will be the year when that colossus of waste, unfairness, and inefficiency known as our tax code will finally be cleaned up. We stand at the threshold of a new golden age of economic achievement and technological discovery. But a complicated and tangled tax code along with unproductively high income tax rates keep the door to progress partially closed. That's why we will be very soon announcing our tax reform plan to lower income tax rates, make our tax system fairer and simpler, and ensure that America is the sunrise industrial power of the 21st century. Everywhere I went on our recent trip to Europe, I repeated one simple yet profound message. Freedom works. Except for a few people on the far left-hand side of the aisle, the response was extremely enthusiastic, especially among young people. Of course, every time I started talking about individual freedom and human dignity, the communists stood up and walked out of the room. I suppose they were just rushing off to greet Daniel Ortega, who seemed to be following me at most of the countries where we were. And I noticed that many in our House of Representatives had second thoughts about their vote to block aid to the freedom fighters when Mr. Ortega immediately flew off to Moscow for what looked like a victory celebration. Mr. Ortega, of course, was looking for another installment on that almost $2 billion in military and economic assistance the Soviets and their friends have been pouring into Nicaragua to prop up the brutal communist regime there. Sooner or later, we're all forced to shed whatever illusions we may have had about the nature of communist regimes. Let's only hope that this time it isn't too late for those brave Nicaraguans who are battling to bring freedom to their suffering country. I hope Congress will change its mind. I still think that we can together rise above partisanship and do what we know is right. And I think every American knows in his heart that supporting freedom and democracy is right. I'm convinced that last month's vote against the freedom fighters in Nicaragua will be remembered as only a short, shameful episode, an exception to our great country's historic allegiance to the cause of freedom and human rights. So our agenda these next few months is full. I'm reminded of a story about Winston Churchill near the close of the Second World War. He was visited by a delegation from the Temperance League. And chastised by one woman who said, Mr. Prime Minister, I've heard that if all the whiskey you've drunk since the war began were poured into this room, it would come all the way up to your waist. Churchill looked dolefully at the floor, then at his waist, then up to the ceiling. And he said, ah, yes, madam, so much accomplished, so very much more left to do. As we have much left to do, and with your help, we're going to make it happen. We've begun no less than the renewal of the American dream. And we're not going to stop until that dream of hope, faith, and opportunity becomes a living reality for every American. That's the vision that guides us. That is the vision that the Republican Party is working toward. And to paraphrase John Paul Jones, we have only just begun to fight. Thank you. Thank you all in the bottom of an awful lot of hearts in this room. Those representatives and senators that you've met, myself, Nancy, George, all of us, we're deeply indebted to you. Thank you and God bless you. Thank you. And before President and Mrs. Reagan and Vice President Bush leave, and before all of us adjourn downstairs for dancing and refreshments, I would like the Republican leader of the House of Representatives, Bob Michael, to lead us in God bless America. Representative Michael. As in Dallas, would you all join me and Manny if you can put it in the key of C? We'll get a lot of participation. God bless America. Land that I lost and beside from the mountain, to the prayer, to the ocean, white with four. Would you please be seated while the President, Mrs. Reagan and Vice President Bush leave the hall? And from Jack McDonald, from Drew Lewis and myself, thank you. Good night. We'll see you next year. Let's please be seated while the President, Mrs. Reagan and the Vice President Bush leave.


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