Hello and welcome to this session in which we'll discuss accounting for warranties or guarantees. In this session, the warranty and guarantees are used interchangeably. So what is a guarantee?  In other words, if something happened to that product, if it doesn't meet certain specification, if it breaks within a certain period of time, we will make you whole. That's what a guarantee is. So it's a promise that the product meets certain specification and the contract. Otherwise, we will make you whole. We would replace it, fix it, whatever we have to do. Now, why is this topic important for revenue recognition? Well, here's why. Because companies might make sales in year one and gives warranty and that warranty could run through year two and year three. Simply put, here's what's going to happen. The company will make a sale here in year one. Then they will offer you a guarantee. If anything happened within the next two years, during this period, we will make you whole. Well, that's fine. Now, from an accounting perspective, here's what's going to happen. If we make the sale in year one, this is when the sale took place, and let's assume the customer came back, nothing happened in year one, and the customer came back in year two and asked for a repair, asked for the product to be replaced, asked for a part to be replaced. What's going to happen is this. If we don't do anything about those guarantees or warranties in year one, here's what's going to happen. The sale took place in year one, the expense will take place in year two. Well, this is a violation of the matching principle. If you made a sale in year one, all the related expenses to that sale should be recorded in year one. And this is why we need to learn about accounting for warranties to match the expenses to the sale in the same year. So what we have to do is we have to estimate what would our guarantee and warranty be and book the warranty in year one. And this is what we need to learn in this session. So this is why this is part of the revenue recognition, because you need to know when you book a sale. And if there's a warranty, you need to book the related expense for that sale in the same period. Don't worry, we'll work an example. We have two types of warranties that we need to be familiar with. One is assurance type. And this warranty is sometime called manufacturer warranty. And that's included in the price of the products. When you buy the product, they will tell you, look, this product comes with two year or three year warranty. You don't have to pay for the extra cost. Usually when you buy a card, they give you like three year plus a certain mileage or whichever comes first. But this is what's called assurance type. So there is no payment here. You don't pay for this warranty. This is the warranty that we are discussing here. Basically the promise that the product will work as expected. Then we have another type of warranty called service type warranty. Service type warranty is when the seller asks you to buy additional warranty beyond, for example, if this is two year, they would say, okay, if you pay an additional $200 or some amount, we will give you another three years of additional warranty on this product. So two plus five, now you're up to five years if you did buy this service warranty. So the service warranty, it's an additional protection beyond the assurance warranty. Bear in mind this is paid for separately. So if you want a service type warranty, and believe me, phone companies, Best Buy or electronics, they would love to sell you those service type warranties. In my opinion, if I have a year or two on a product, that's good enough. If something's going to happen, it's going to happen early on, also a car. So this is what a service type warranty is. And for this warranty, we're going to record a separate performance obligation. So this warranty is separate than what we discussed minutes ago where we have to account for the revenue and the expense in the same period. This is a separate contract. So the service type warranty will be a separate contract and obviously will work an example explaining this service type warranty. Before we look at the example, I would like to remind you whether you are a student or a CPA candidate to take a look at my website, farhatlectures.com. I don't replace your CPA review course. I don't replace your accounting courses. My job, my goal is to be a useful addition to be a supplemental material to your CPA review course, to your accounting courses. My motto is saving CPA candidate and accounting students one at a time by providing new lectures, resources, multiple choice, through false that are aligned with your courses. Everything is broken down by chapter. This is a partial list of my courses. My CPA material is aligned with your Becker, Roger, Wiley, Gleam, Myles. So it's very easy to follow between your CPA review course and my courses. I give you access to the original 1500 previously released AI CPA questions, almost 1500 questions in their original format plus detailed solution. If you have not connected with me on LinkedIn, please do so. Take a look at my LinkedIn recommendation, like this recording, share it with other, connect with me on Instagram, Facebook, Twitter, Reddit. And right now I started a CPA exam group on GroupMe. So please join us so we can discuss CPA with other candidates. So let's take a look at this example. Adam Electronics sold 10 flat screen TV on November 1st, year X1 for a total price of 4000. The cost for Adam Electronics is 1500. The assurance type, the assurance warranty for the product is two years with an estimated cost of 600. So we sold the TVs and we said, okay, if anything happened for the next two years, we will guarantee your TV. We think our cost for that warranty is $600. We are going to incur $600. Now, in addition to the assurance type, Adam sold extended warranties related to six flat screen TVs for additional three years for a price of $300. So what happened is we sold the TVs, gave them more assurance warranty for two years. We think it's going to cost us $600. In addition, six customers, six of the 10, we're going to assume each individual bought one flat screen TV, six customer bought the extended warranty, and in total they paid $300. So it appears to be $50 per extended warranty. Here's what's going to happen. We're going to debit cash $4,300. Why $4,300? $4,000 is the sale and $300 is for the extended warranty. Therefore, we're going to credit sales $4,000 for the TVs. We're going to credit unearned warranty revenue $300. Now, please make sure to make to make a T account for this unearned warranty revenue because eventually unearned revenue will have to be turned into revenue and we're going to see when. So just make a note of it for now. Also, we're going to have to debit cost of goods sold and credit inventory for $1,500 to account for the cost that Adam incurred to purchase those TVs. Are we done yet? No. What we have to do now since we have an assurance warranty involved, we have to record the expense and the liability for that assurance liability because we don't know when the customer comes back for service, but we have to record the expense in the same period that the sale takes place. Therefore, we debit warranty expense $600, credit warranty liability $600. And this is a good illustration, whether it's for inventory or warranty, good illustration of the matching principle. We make the sale on November 1st and all the expenses related to that sale cost of goods sold and warranty expense are recorded in that same date. Now, some companies don't book this expense and liability till the end of the year. Some textbook, they don't book this expense and liability till the end of the year or the end of the period. I book it this way to show you the matching concept that on the same date that you made the sale, that you made the sale, there was an expense related to that sale and you record the expense in the same period. I'm going to tell you what I mean by some companies don't book it till the end of the period. Now, we have a warranty liability with the balance of $600. We're starting with. On December 5th, it doesn't matter when, X1 in the same year, Adam incurred labor cost of 75 and part cost of 25 related to the assurance warranty. What does that mean? It means one or two customers, let's say one customer came back, they needed some parts replaced. It was $25 and we assigned an employee to work on it. The employee cost us $75. Now, what do we have to do? Now, we have to start to reduce our liability. We're going to debit liability $100 because we already recorded the expense. So this is when the customer comes back. There is no expense. Why? Because we booked the expense when the transaction took place and we credit salary and wages table for 75, credit inventory parts for 25. And this was in December, I said December 5th. It doesn't matter when, but it's December 20 X1. So it's in the same period. So here's what companies would do or some textbook would do. What some textbook would do, they will not, so let me first show you the warranty liability. So what's going to happen is after we booked this entry, our warranty liability is $500. Here's what some textbook and some CPA review courses would do. What they would do is they will not book this entry first. So they will not book this entry first. What they do is when the customer comes back in the same period, they debit warranty expense 100. They will credit salaries and wages table 75 inventory 75. Then on December 31st of that year, which is at the end of the period, we're going to assume December 31st is the end of the period. What they would do on December 31st, they will debit warranty expense 500 and they will credit warranty liability 500. So what happened is you will end up with only 500 and warranty liability because you would, you expense this, you expense 100 on December, I said December the 5th and the remainder is the 500 is booked. So basically the warranty liability would look something like this, which is the same thing as the same balance 500. But I like to book the entry the same date, the same day of the sale. So it's a great illustration for what we call the matching principle and accounting. Now let's move on for future periods. Now we have a warranty liability, now a balance of 500. On March 15, X2, which is year two now, Adam incurred labor cost of 300 related to the assurance warranty. Something, some malfunction happened. We had to send an employee to the customer and they fixed, and they fixed a flat screen TV. What entry do we make on March 15th? We're going to debit warranty liability 300 credit salaries and wages table 300. Notice no expense. We are not expensing anything because everything was expensed in the same accounting period. Matter of fact, the same day that the sale took place. Now our balance in the warranty liability is 200. And this is how we will account for future cost and hopefully we will not incur more than 200 of additional warranty for the next, you know, till November 1st, till November 1st, 20X3. Hopefully we don't incur more than an additional $200. If that's the case, then we'll start to account for expenses. We start to account for additional expenses. Now that's the assurance type warranty. Remember what I told you earlier, you also have a service type warranty and that service type warranty kicks in November 1st, 20X3. So November 1st, 20X3D service type warranty will kick in and remember we have a balance of $300 of unearned revenue. Then what's going to happen is this, starting from November 1st, 20X3 till November 1st, 20X4, we're going to earn $100 of this unearned revenue. Why? Because now we are servicing the client. This unearned warranty revenue, this service type warranty now kicks in. Therefore, what's going to happen? We're going to make this entry November 1st, 20X4, November 1st, 20X5, November 1st, 20X6 and by doing so for the next three years, we would earn the revenue. The unearned revenue will go down to zero and we'll have this additional warranty revenue. So this is how basically, this is how it works. This is how it works, but right now for one year, the balance is $100. What should you do now to learn more about this important topic, assurance accounting for guarantees or accounting for warranties, go to farhatlectures.com. Don't hesitate. Work MCQs. Work through faults. Look at exercises. Reinforce the concepts. Look at additional resources and exercises that's going to help you understand this concept. The CPA exam is an important part of your career. Your accounting courses are the foundation for your professional journey. Don't shortchange yourself. Invest. Good luck. Study hard and of course, stay safe.


So good evening So I'm Nick Johnson lead developer for E&S and I'm here to tell you about what we've done in the last year and What our plans are for the next year? So E&S launched on the public main network on May the 4th as in May the 4th be with you It had an eight week soft launch period during which we gradually released names for availability in a randomized process over that eight week period and my There we go over my the eight week period 180,000 names were auctioned as you can see after an initial sort of gold rush spike that was a fairly consistent rate over the whole period And to buy those 180,000 names Roughly a hundred and seventy thousand ether was deposited into a smart contract Users who purchase names have their ether hole held for at least a year Or until they release the name As you can see from the graph here the Contributions the the amount that was being deposited on names reduced fairly sharply at the end of the Eight week launch period which is a fairly good indication that most of the contentious names were bought during that period So it's interesting to look at how much people paid on average for an E&S name or rather How much they deposited and what proportion of names were Contentious had more than one bid so if we divide names up into the names that were in a short list that we have of common Domain names and dictionary words and those that aren't about 35% of those that were in the dictionary were contended Had more than one bid compared to only about 7.2% of names that weren't in the list And as you can see again for the names that were in the list After a short sort of gold rush period there was a gradual decrease in contention rate While names that weren't in the list the line on the bottom there Were fairly consistent in terms of how often they were competed for So split again splitting up by whether the name was known or not The average price paid for an E&S name in the list was about 0.05 ether and the price for a name not on the list was only 0.02 and as you can see on the right side there when the soft launch period came to an end the both of those bottomed out to Very low contention rates and very low medium prices indicating that most people that wanted to Compete for a name got it during the launch period So one of the main concerns about the auction process was the potential for people to lose their bids by failing to reveal during the correct period And that was something we can a concern we shared in the design of the registrar as you can see here from an initial reasonably high rate of Loss for deposits that rapidly decreased and we had an average of zone the 0.3% We're satisfied that the rate is Quite low, but we're not sort of resting on our laurels We want to continue to improve The auction process make it easier for people to interact with and less likely that they will lose funds or Harder to make mistakes as we'll see soon It's also interesting to look at the ownership distribution of names because this gives us an indication of how many names were bought With active use in mind as opposed to how many were bought with the intention of hoarding them so Roughly 8,500 people bought names during the launch period Of those about 123 of them 1.4 percent of the total registrants own half the registered names And in order to buy those half the registered names They paid only about 20 percent of the total registration fees or about 34,000 ether And from the histogram here, you can see that the vast majority of accounts over 5,000 of them Owned no more than five names with a long tail distribution Continuing off all the way to the largest E&S name whale here at 17,507 names Client adoption since the launch has been excellent We have support in Metamask, MyEtherWallet EtherScan, a variety of other clients and mobile wallets and one of our main efforts for the ongoing E&S effort will be to increase client adoption Particularly with exchanges you might notice we only have one pioneering exchange in this list and we really want to improve that In August 2017 we had the first E&S workshop This was a gathering of people interested in advancing the state of the art with the E&S building out new infrastructure And deciding what the permanent registrar should look like We had 27 participants and we discussed over three days a number of issues Including dispute resolution, design of a permanent registrar, how to secure sub-domains and E&S integration and I'll go briefly over what we Determined in the workshop and how we've progressed things since then So the first topic that we discussed quite extensively was dispute resolution E&S with the interim registrar on DOT ETH has no built-in dispute resolution mechanism And this was a deliberate choice because we wanted to build the simplest possible Registrar to get things started and then learn from the experience in order to build a better permanent registrar The consensus decision at the workshop was that a dispute resolution should initially be built as a sort of a second layer So we would have opt-in blacklists They would follow their own processes, whatever they see fit for blacklisting domains And users and wallets could then voluntarily subscribe to a blacklist that met their requirements or none at all if they prefer So for instance here we have an example blacklist in the middle The user doing the resolution on the left and E&S on the right The user wants to resolve say foo.xyz In this case the domain isn't in the blacklist So the blacklist simply passes the request on to E&S which responds as normal If the user then wants to resolve a domain that is in the blacklist like bad.xyz The blacklist detects this and returns a null result ensuring that phishing and spam domains and scammers don't get resolved And sorry, I should add The goal in the long run is to build experience with operating these blacklist registrars as a second layer And then evaluate further later whether they should be integrated into the base layer or whether it should continue to be a separate opt-in solution The second major topic of discussion was design of the permanent E&S registrar and one of the unanticipated consequences of the deposit based model for E&S is that Different participants in the market have very different costs of capital on the left here We have the user who is registering a domain with the intention of using it directly and to them The cost of putting down a deposit is effectively the whole cost of the deposit because they intend to retain the name indefinitely They can't count on relinquishing the name and getting those funds back on the other hand you have the investor who is looking for some way to invest their ether and The cost to them is effectively the opportunity cost of not being able to use it for other things and Finally you have the speculator who would be holding ether regardless and they see E&S names as an almost risk-free way to Hold their ether So our conclusion from the workshop is that we should transition to a rent-based model and in a rent-based model Every name has an annual fee which is assessed sort of continuously And as a result everyone has effectively the same cost for holding a domain It's also important to note that the plan is that all domains would have the same ongoing rent This wouldn't depend on how much you paid for the domain at auction because we have no desire to penalize people merely for being popular The next logical question is how you determine the rent and Ultimately unsatisfying option is to simply have somebody set it by Fiat as it were and revise it from time to time But we think we have a more elegant approach and this was suggested by Vlad Zamfier at the workshop the insight is that The goal of having rent is to encourage Deregistration of unpopular names or unused names that aren't wanted and so we can monitor the Deregistration rate which is the blue line there and set a target Deregistration rate the contract can monitor how many names are being deregistered and then it can adjust the rent price to attempt to maintain a fixed rate So in this example here some external event perhaps an increase in the price of ether results in a spike in the Deregistration rate and the registrar responds by decreasing the rent until it reaches a stable level again And you can see here another event perhaps increasing popularity in E&S Results in a decrease in the Deregistration rate and the registrar responds by again increasing the price until it's stable The next issue that we addressed and this has actually come up largely Subsequent to the workshop and as a result of discussions in our internal gitter channels Was ways to simplify the auction mechanism? Although it's generally behaved quite well There is some inevitable information leakage in that you have to start an auction on a name in order to bet on it And that provides some information to people on what names you're likely to be bidding on and what names are up for auction in general And this can be disguised by opening sort of chaff auctions alongside the real ones, but this disguise isn't perfect So our proposal for the permanent registrar is to switch to a rolling auction mechanism The way this works is auction periods start every 48 hours in this example And you have a 48 hour bid period during which anybody can bid on any unknown name And that's immediately followed by a 48 hour reveal period during which anyone who birds needs to reveal the name Simultaneous with the start of the first reveal period a second bid period starts And again any unregistered name can be bid on if somebody bid on a name in phase one and then another person bids on the name in phase two Then when the name is revealed they simply get a full refund The result of this is that there is no information leaked as to what names are being auctioned Which means that people have to bid the legitimate value of the names they want rather than sort of sniping and griefing the system And this continues on an ongoing basis with bid periods automatically starting It also simplifies the system it reduces the number of interactions you need to engage with the system by one So the next feature I'd like to announce This as you can see is a perfectly ordinary my ether wallet instance. This is on the Internet public internet. You can see it's connected to Robston And I as you know my ether wallet has had support for E&S names since day one What it hasn't had is the support to resolve these names I'll blast and that's the problem with doing a presentation on screen If this was working and I'm going to blame the internet connection What you would have seen there we go. It's correctly resolving an E&S address for an XYZ domain And to figure out why this how this works we need to take a bit of a diversion and talk about DNS sec DNS sec establishes a chain of trust from the root key which is signed by ICANN and Down through each key. So we start off knowing only the hash of the root key of DNS And this is coded into a smart contract oracle Given that that given the hash of that key We can pass in the actual key we can verify that it matches the hash and we can add it to our set of trusted records and Given that key we can now verify any record that is signed with that key So in this case, it's the hash of the root key for the XYZ top level domain and Given that then we can recognize the key and so on and so forth So next we can recognize the key for ethlab.xyz Given that we can recognize Sorry, the hash for the key and then the key itself and finally we can validate a signed text record containing an ethereum address So this is how the overall system works given that chain of trust established previously users can submit proofs to a DNS sec oracle on the chain and the proof is exactly what we saw earlier for any records that it doesn't know about It contains the record and it contains a signature verifying its accuracy Once they've done that the user can call the registrar the new DNS sec registrar, which has a claim function The registrar then queries the oracle and says is there a text record for the name? They're trying to claim and it responds with any text records and the registrar Passes those text records to determine any any DNS addresses if it finds one Sorry ethereum addresses if it finds one it checks it against the caller checks that the person was calling the Registrar is in fact the address specified And if they are then it calls a NS and sets the record in the NS and this is now fully functional on the Robson test network You can register any DNS domain Thank you So initially for testing purposes We're starting only with the dot XYZ top level domain, and we're grateful to them to cooperating with us on this But in principle this can be expanded to any DNS sec domain that supports sec pair, sorry RSA and char 256 So well, we'll initially start off with this and my great domain net initially with it We want to expand it out to support all of those domains. So that means not just XYZ But also all of these domains and all of these domains and These domains and these domains and these domains and these domains and these domains and it ends at some point There we go and all of those in total about three quarters of internet TLDs currently support the algorithms We need and if we integrate share one support that rises to about 96% So the next thing I'd like to show off is Something that aims to improve the usability of NS for end users One of the major barriers to adoption has been that for somebody to simply name their wallet Requires a multi-step process involving an auction process and it's always been our vision that most users don't buy top level domains in the same way that most users sign up to Gmail rather than buying their own vanity domain and E&S now is our attempt at making this easier for users and it makes the process of registering a sub-domain extremely easy That didn't go quite how it's supposed to So in this case, I'll search for Vitalik for instance If I can spell his name, which apparently I can't And we see that we have different top level our second level domains gimme thee and want some Once sums already taken so I'll click on gimme thee Pops up a metamask confirmation window grossly enlarged here. Thanks to my full screen as you can see It's going to cost us about two dollars eighty four point zero one ether takes a bit of gas Clicks admit as soon as that's mined, which is instantaneous in this case The name is registered and it's pointed at your wallet. That's one step and about 30 seconds to register an E&S domain for any wallet So before I go one more thing and I'm going to pause to see if anybody gets the pun Maybe not I'm pleased to announce that we're going to be forming the E&S foundation an independent legal organization whose goal will be Thank you will be to forward the goals of E&S to help promote its adoption and to help standardize things It will be a not-for-profit organization in 10 in the pattern of the W3C or IANA In sorry the IETF Intended to help promote E&S adoption and know there will not be any form of ICO And Finally, I'd like to close by thanking everyone who made this possible particularly all the attendees at the E&S workshop Alex van der Sand who couldn't be here because he's having a baby Leonard Tan our E&S volunteer who recently presented some of this material to ICANN including the ICANN technical working group and the board And I honestly do not know how to pronounce his name Olly Olly Who inspired the rolling auction system by coming into the get a channel and complaining about how bad the existing system was? easy DNS for their support with DNS sec integration and Mano from E&S listing for feedback on E&S now and that's all I have for you. Thank you very much


I turn on the television, I scan social media, I read the newspapers and all I see are divided politicians. They are so partisan that they can't even handle the most basic necessities to get our country moving again after the pandemic. The problem is, Congress doesn't work for you or your family, but instead caters to lobbyists and party bosses. They'll do anything to seize more power. And these days they're even willing to sacrifice our own democracy, the Bedrock Foundation of America.


Item number SCP-ES-254 Object Class Safe Special Containment Protocols SCP-ES-254 is currently contained within a facade that is visibly represented as a store for sale and purchase. It operates regularly for the public and employs exclusively Foundation staff for periods no longer than six months. Each weekend, a basic charitable activity protocol is to be carried out, whereby staff will be responsible for distributing various supplies of fish and seafood to the population of ████████ Norway. If it is impossible to carry out the protocol, it will be postponed until appropriate conditions are met. Description SCP-ES-254 is an ice fishing hole located in the city of ██████, Norway. Whatever an individual attempts to fish inside SCP-ES-254, a random, non-anomalous marine species will take debate within an interval of three to five minutes. This occurs universally, regardless of climatic variables and specific fishing seasons. Several studies have been carried out that thoroughly inspect specimens from SCP-ES-254, and they have no differences in any aspect from those a normal specimen would have when fished. The following species have been identified. Salmon, Atlantic, Sakai, Pumpback, Chinook, Kohou, Koi-Karp, Kohaku, Sanke, Showa, Silverside, Cornelitos, Tuna, Yellowfin, Longfin, Big Eye, Skipjack, Cod, Pacific, Atlantic, Polak, Octopuses, Squids, Mussels. The Cedar Complete Catalog of Fished Species referred to list 328-27.032 at Site Omega-7. Discovery, History Initial records of SCP-ES-254 date back to 1932. The area was originally occupied by a group of farmers and fishermen who accidentally stumbled upon the site while looking for a suitable place to fish. Noticing the anomalous effects of SCP-ES-254, they used it to generate profits within a limited market. However, this lasted only a brief time due to a quick intervention by Foundation agents near the area. The merchants were amnesticized and transferred to a nearby location. Later on, a proposal issued by agents working in the area, alongside the Neighborhood Economics Department, was accepted. This proposal envisioned the creation of a retail store for fishing and hunting supplies, as well as the commercialization of SCP-ES-254 instances determined to be safe. Eventually, activities were planned to give away a certain amount of fish to the local population in an attempt to generate goodwill within the community, something that was well accepted by civilians. Nowadays, SCP-ES-254 is under the facade of a store. It is considerably successful. It is constantly being renovated by the Foundation to keep it up and running. Norway, January 14, 1940 Are you laughing at me? Site Omega-7's director abruptly turned around, all replying sternly. The young researcher, to whom he was speaking, merely gave him a silence as he thought carefully his next words. Director, I understand that this may sound crazy, but just hear me out. The samples taken by the marine research team came back positive. There is nothing unusual about the fish coming out of there.  The bearded gray-haired director began to walk toward the door of the room, but was interrupted by a last attempt from the young researcher. Director, fill off, please. I am an adult, and I am aware of the actions that led me here. The cold is striking the population, and food supplies are slowly becoming scarce. This may be a temporary solution to a world crisis. We have just entered a very difficult war, but we could be a little less hard on ourselves and try to get out of this ship by being a little more humane. Elof stopped in front of the large door he was facing, and succumbed to silence. Friday would be your goodbye dinner from Saitonega. Allow me to give you one last meal. In any case, I will take responsibility for the situation if anything goes wrong. Just let me give it a try. A few seconds passed before the room was occupied only by the presence of the young researcher. Translator's note. The post it says, thank you for the meal. It was delicious. Elof.


We're here at Cointelegraph's New York offices. Live from New York, it's Sunday night and this is your weekly Hodler's Digest. As Hodlers become increasingly weary of the will-day or won't-ay, the to-ing and fro-ing of the SEC about the Bitcoin ETF decision, it's time to take a more global look. So hop into Cointelegraph's hot air balloon and we're going to do a round the crypto world in seven days the Hodler's Digest edition. This week, people are increasingly turning to cryptocurrencies when their economy is in turmoil. India is sending its officials to crypto college and Alibaba v. IBM in the quest to become the blockchain patent king. Venezuela, Turkey, Iran and Zimbabwe are countries all facing economic turmoil, suffering high inflation. Increasingly, people living in such extreme situations are turning to crypto as a store of value in a means of exchange. The fanciful question is, can hyper-Bitcoinization ever happen? We spoke to a Venezuelan professor, Francisco Panitza from the London School of Economics and Alejandro Machado, a computer scientist in Caracas, to find out more. In Caracas, there is the highest rate of inflation in the world and according to some estimates it can even reach a million percent by the end of the year. So it's basically a fiscal crisis but it's just getting worse every year or every day. The Bolivar is not a store of value. The government has taken these two extremes because they keep printing and printing more money. If you want dollars, you need to go to the black market in Venezuela. There's been an exchange control for 15 years and it's not legal to actually exchange dollars. The hope or thought is that the majority of people will be able to access cryptocurrency instead because it's something that doesn't require a bank account abroad. If you have any kind of savings or if you want to save any kind of money it's much, much better to access cryptocurrency. I know for example people mining Zcash inside of Venezuela that they're making much more money mining than in their professions. These people are doctors, engineers, people with good jobs that they should have good salaries but they're making way more money mining because electricity is subsidized.  If instead you have cryptocurrency in your head or you have a password down somewhere it's much, much harder for them to first know that you have the money and second to actually be able to seize it because they have to resort to physical violence. I believe that cryptocurrency is a tool for the ordinary citizen to be able to challenge the state in this way. If cryptocurrency becomes very popular in Venezuela and the government finds that they no longer have access to monetary policy as they used to have they can't make everyone poorer and themselves richer by debasing the currency so it's going to create some trouble and they're going to try to ban it. I would like for us to have a little bit more time to develop it more so that we gain a tactical advantage because in this way if the government finds out that this is a subversive tool then it's likely that they'll crack down even harder on it. Unlike Switzerland or Japan India has been far from crypto friendly. In fact, you could easily describe them as crypto hostile. Strange then that according to a report the Securities and Exchange Board of India recently organized tours abroad for its officials to study both crypto and ICOs. Representatives from the regulator were sent on study tours to gain a deeper understanding of the mechanisms of crypto in Japan's financial services agency the UK Financial Conduct Authority and finally the Swiss Financial Market Supervisory Authority. The RBI is currently considering the viability of a rupee-backed central bank digital currency. The so-called study tour runs contrary to the recent RBI decision that effectively bans banks dealing with crypto businesses or individuals. Long-time crypto advocate Andreas Antonopoulos was very critical of the RBI's plans. Do you agree with him? Tech giants Alibaba and IBM want to be top dogs when it comes to blockchain patents. An outlet specializing in intellectual property looked at data filings in the EU, the US, Japan, South Korea and China. They also consulted WIPO the World Intellectual Property Organization and the results are in China's Alibaba comes out on top but only just with 90 blockchain-related patents. IBM comes at a close second by just a whisker with 89 blockchain-related patents. Further down on the list is MasterCardid80 the Bank of America at 53 and ranking in fifth is the People's Bank of China with 44 patents for a central bank digital currency. As Cointelegraph previously reported WIPO data showed that in 2017 China by far filed the most number of blockchain-related patents at 225. America only filed 91 and Australia filed 13. China is certainly embracing the new tech but on its own terms and it is also taking an increasingly harsh stance against decentralized crypto currencies as of late. Alibaba founder Jack Ma also walked the fine line as he is a strong opponent of blockchain and a pretty harsh skeptic of crypto. Over 11,000 miles away in the US IBM recently signed a five-year $740 million deal with the Australian government to use blockchain and other new technologies in federal departments. Good news for all you Ethereum data set fans out there. Google's cloud team has recently integrated Ethereum's data set into its big data analytics warehouse, BigQuery. Ethereum blockchain data is posted in the data set and updated daily. It's included there in order to prioritize updates to the Ethereum blockchain and help make business decisions. Google explains that the Ethereum blockchain contains APIs that can be used for random functions like checking transaction status and looking at wallet balances. However, these API endpoints cannot be easily reached. This is where BigQuery is really useful. It aggregates this data and turns it into a form where you can visualize it. Blockchain game CryptoKitties is also making use of Google's shiny new tool. BigQuery collects data on accounts that have more than 10 CryptoKitties as well as their mascot size. This is all part of Google's wider expansion into the blockchain and crypto space. In February, the company had created a similar tool for the Bitcoin blockchain. The market went into free fall on Tuesday, dropping $12 billion in an hour. But it turns out reports Goldman Sachs are abandoning plans for a crypto desk are fake news. This, according to Goldman CFO Martin Chavez, who made the announcement at a conference in San Francisco in direct contradiction with an unnamed source speaking to business insider who would claim that trading desk plans were scrapped because of an unclear regulatory environment. However, Chavez did suggest that the excitement for a trading desk may have been premature. He said, When we talked about exploring digital assets, it was going to be exploration that would be evolving over time. Maybe someone who was thinking about our activities here got very excited that we'd be making markets as principal and physical Bitcoin, and as they got into it, they realized part of the evolution, but it's not here yet. Earlier this year, a couple of Barclays employees caused similar confusion when they posted online about a trading desk for the bank, a claim which Barclays immediately denied. And finally, we've been debating this tweet all week here at the Cointelegraph office. Bitcoin's best use case is Venezuela, not Starbucks. Post what you think below in the comments. I'm on Venezuela's side. And as always, don't forget to like, subscribe, and hodl.


Hello world, I am Gigarius and today we are going to talk about draw, one command to drudge them all. But before we start, I would like to thank Symmetris for sponsoring the initial development of draw. Also, to make things clear, we are not going to talk about the draw from Star Wars. In this video, we talk about the Drupal draw. So let's get started. So what is draw? Draw is a command line tool that lets us run commands on all or multiple sites in a multi-site Drupal installation. Hence the slogan, one command to drudge them all. Like many other PHP packages, draw can easily be installed with Composer. Now this is where the fun starts. Draw allows you to run the same drudge command on all or multiple sites in your multi-site Drupal installation. All you have to do is run drawexec drudge followed by the drudge command. If you have configured one or more drudge aliases for your site, then you can use them with draw like this. Now you don't only want to run a single drudge command across all your sites, sometimes you want to run multiple drudge commands or shell commands on all your sites. With the drawexec shell command, you are able to do exactly that. The draw site directories command allows you to see a list of all the subdirectories that are present inside the sites directory for Drupal. You can then use this list inside a script to iterate over each directory and do something special with it. Similar to the site directories command, the draw site aliases command shows you a list of all the site aliases that you have defined for brush. You can then use these site aliases inside of a custom script to iterate over them and do something special with them. That brings us to the end of this video. I hope you enjoyed it and I hope you like draw. You can read more about draw on github. I am Jigaru's and this is where I video fairway.


Hey guys, it's Matt back from free salon education.com. I want to invite all of you guys to join our new membership program It's the FSE partner program on free salon education.com. It's 1999 a month also there's programs for your salon as well So if you have up to 10 employees you can get discounts on the monthly membership Also, if you have over 10 employees, you can get discounts as well The great thing about this program is that you're gonna get an online class every month either by me or someone on the FSE team Also, you get access to our super private FSE salon group on Facebook So only members are allowed in there on that Facebook group You can connect with all the other members that are part of the FSE partner salon program Also, you can ask me any questions that you want daily and you're also gonna get added to our FSE partner salon and Stylus locator so that people that watch our videos we get millions of views a month tons of people asking if we know of great Salon so that's really where this whole concept came from we want consumers that are out there looking for great hair to be able to Find your salon, so we're gonna help you train We're gonna work with you in the Facebook group and we're gonna add you to the salon locator so people can find great Salons out there so if you're looking for a great salon and you're not a hairdresser out there Then go to our FSE salon locator on free salon education.com see if you can find a salon close to you We're adding new salons and stylus daily, so I'm very excited about this program If you get a chance the link is below you can join I look forward to connecting with all of you guys as you sign up. Thanks


Hey, what's up, Zendu nation? So today, instead of working out, we're actually gonna enter a donut eating contest. I'm totally kidding. We're actually gonna do like a pretty hard workout in the rain. I don't wanna get my shoes wet. So on today's high intensity jump rope workout, we're gonna focus on jump rope. We're also gonna focus on some lower body squats so that you have a difficult time walking after this. It's gonna be super fun. I know, you're excited. You repeat this circuit five times. Yeah, it's about 30 minutes. You're gonna be super tired and sweaty, but you'll thank me or hate me, I don't know.  Also like this video. And if you wanna learn to optimize your fitness for happiness, meaning getting the body you want with making the process easy and fun, check out our coaching link below. It's the Zen Dudes Fitness Coaching Program. It's super fun and mad people are transforming.  I'm done rambling. We're going to work out so that you can be done with this quick and then get back to life. I don't know, whatever it is you do on rainy days. Guys, to start things off, we're gonna start with jump rope running up and back. So what we're gonna do right here is just all you're doing is regular jump rope. So always remember guys, you want little, very, very, very little movement here. So small range of motion in my wrist. It's okay if you mess up, just get right back on track, no worries. And my feet aren't really coming that high off the ground as you can see, my elbows are staying in and my hands are jutting directly out to the sides of my hips. And again, there's really not a whole lot of movement going on. Good guys. Up next, sorry for the motorcycles in the background in case you can hear them. My apologies. All right, squat of old guys, here we go. All you're doing is sitting on your squats for 30 seconds. Normally you can do this, you can do a wall sit where you sit against the wall, do this. But in this case, we are just gonna do a straight up squat hold. And what it's important to be a little bit less than 90 degrees, 90 degrees is fine. And if you see here, my toes are pointed out slightly and my heels are about shoulder width apart. Form over everything, guys. Form over everything, super, super important. All right, up next, we have jump rope front straddle. Good guys. So this is just like regular bounce, except you're just slightly jumping back and forth over an imaginary line. Notice any jump rope workout that I ever do, nothing changes about my upper body movement. Everything is staying the same, wrists are staying. I'm controlling the rope with my wrists and keeping it tight, knees are slightly bent and my feet are just coming slightly back and forth. We have examined where we are strong and where we are not. Two, one. Where we make the speed and where we may not. Now it is time to take longer strides. Time for a great new American enterprise. Time for this nation to take a fairly leading role in faith achievement. Good, I'm actually jumping lunges. Good guys, you're just coming up and down, up and down, and exploding. Well, knees are arms, feet for some momentum and you're going up. I'm blending the air, I'm the moon and I'm turning it safely to the earth. Good guys, just so you can get a different angle there, I'm coming straight up in the air and I'm pushing off of my heel.  Good guys, I just jump rope crisscross. So again, a lot of people, it's okay if you're a beginner and you can do this, you can just do regular bounce, that's not an issue. Those who want to challenge themselves, it's really not that difficult of a move because there's not a whole lot of extra movement required outside of regular bounce. So if you see, I'm just making a little figure eight motion with my hands circling in and out and then crossing them over. Good guys, jumping jacks, pretty straightforward. I think we've all done this. Just go as intense as you possibly can, make sure you're getting your arms up there and swing them as much as you are able to. Good guys, jump rope and regular bounce like this. Knees are slightly bent and see my toes they're not even coming, they're probably not even coming more than that off the ground. This is where you want to. A lot of people think the jump rope is a lie in fact. Sport is totally not if you don't do it correctly. So see me, wow, because I'm mean like that. But yeah, same thing guys, so you're just down at a 90 degree angle here. Heels about shoulder width apart and what I like to try and do during these is breathe into my nose, five, inhale, exhale to five into your nose out to the count and stare at something straightforward so that I forget that I'm sitting in kind of an uncomfortable position for a standing standard of time. Time for a great new American enterprise. Time for this nation to take a clearly leading role in safe achievement.