Celebrating 20 years of Lakeland News is a special milestone and calls for a celebration. Josh Peterson takes us to the party. When it comes to local news, you're telling the community's story. That's why Lakeland PBS opened its doors today to invite the community in and celebrate with those who watched, supported and sponsored. When I'm out in the community talking to folks, Lakeland News is one of the first things that people always talk to me about, about how they appreciate having local news and, oh, I saw my grandson, you know, we're out there, we're doing things and people really do appreciate that. For those who have watched Lakeland News from day one, the anniversary party was a chance to meet familiar faces, both in front and behind the camera. I want to meet everybody. You see them on TV all the time, you know, you just kind of want to see them and actually meet them and stuff and they seem so warm and friendly on TV and that's what I like watching about it. Out of the 170 licensed PBS stations across the country, only a small percentage provide local news. A service Lakeland PBS is proud to offer. You know, Lakeland PBS is kind of unique.  And they're typically big stations. The cost of doing local news is significant and today's party was also an opportunity to thank those who have been proud supporters of the broadcast from the very start. The mission of Lakeland News supporting this region and highlighting all the many good things that are going on, important things that are going on is key and what a great asset for this community and this region to have. With support from viewers, sponsors and volunteers both in front and behind the camera. Lakeland News is set for success for another 20 years and beyond. In Bemidji, Josh Peterson, Lakeland News. If you enjoyed this segment of Lakeland News, please consider making a tax-deductible contribution to Lakeland PBS.


hope you remember the reaction mechanism of an SN1 reaction. We talked about how the bond between the carbon and the leaving group breaks a carbocation forms and the attacking nucleophile swiftly attacks and forms the product right. Here we also talked about how the step one was actually the slowest step. This bond breaking was important for us because this step was the rate determining step. So if I want to make this reaction happen faster or if I want to increase the rate of the reaction I would have to do things that increase the rate of step one. So the factors affecting the rate of the reaction would be the carbocation stability more stable the carbocation more quickly it will form the leaving group stability. What if the leaving group is not stable alone it would want to attack the carbocation again and we won't get the product so it should be stable alone it should be happy alone so that it doesn't attack my carbocation again and there's a hidden factor it's the solvent we'll talk about it later. Hey does the nucleophile also affect the rate of the reaction well it clearly attacks in the next step so if it's not a part of the rate determining step it has no role to play in determining the rate of the reaction. So the strength and the concentration of the nucleophile they won't really affect the rate of the reaction. So let's focus on the carbocation stability factor. If I'm given a question where I get these two substrates and I'm asked which of the following would react the fastest via an SN1 reaction and I have to check what bond to break. In both the cases I can see how Cl- would actually leave. So what's the next thing that I should focus on? I should probably break the bond and see which carbocation would be more stable because the leaving group is the same. Let's do it these are the carbocations that I get right. Why don't you try comparing the stability of these carbocations before we do that together. In the first case I can see there are six alpha hydrogens while in the second case there are nine alpha hydrogens more the number of alpha hydrogens more is the hyper conjugation right and more is the stability. So the second carbocation is more stable than the first one and therefore the second substrate would react faster than the first one when we talk about the SN1 reactions. Let's take another example shall we. Here I have two cyclic substrates that are waiting to react via an SN1 mechanism. The leaving group is still the same it's still Cl- so let's just quickly make the carbocations in each case. These are my carbocations. Each neutral carbon atoms will form four bonds so if I count in the first case I can see four alpha hydrogens while in the second case I can see there are one two three four and three here seven alpha hydrogens again more the number of alpha hydrogens more is the stability and therefore the second substrate would react faster than the first one in case of an SN1 reaction. So let's quickly move on to the last example for the day. I have three substrates here and in each case I can see that the leaving group would be Pr- so what I really need to compare is the carbocation stability again. Let's form the carbocations and compare them try it yourself and then we'll do it together. Can I see alpha hydrogens here? Yes I can. In the first case there are six alpha hydrogens in the second case six again while in the third case there are three but is hyperconjugation gonna be the only factor here as well? I can see benzene rings can you? Is there a possibility of resonance? I can see a positive charge which is alternate to the pi bond. Let's try resonance then. So if I try drawing the resonating structures this is what I get. Oh so the positive charge is spread out in the entire ring so that happens in both the cases. Hey that helps me. So I can see that in the second and third case there's a stabilization via resonance and they also have alpha hydrogens six alpha hydrogens in the second one while three alpha hydrogens in the third one. So if I'm supposed to compare the stability in each case what do I do? Both have resonance but the second one has more alpha hydrogens so there's an overall extra stability that is provided to the second one as compared to the third carbocation right? So the second one is the most stable. What about the first one? There's no resonance there are just six alpha hydrogens. So the stability order would be and hence the rate would be as shown. More stable the carbocation the faster it will form and the faster would be the rate of reaction via SN1 for that particular substrate. In the next video we'll be talking about allylic, benzylic, vinylic and phenylic substrates and see whether they react via SN1 mechanism or not.


Hi, thanks for introduction So I'm Bruno Mervin and I'm an engineer by training and I'm based at the energy research center and the faculty of engineering at the University of Cape Town And I'm presenting a paper that is mainly a methodological paper But since the case study that we use to demonstrate the methodologies related to regional trade It it fit well and also it's a it's a project. It's a paper that we did in collaboration with you and your wider Who I'm involved in in this in the organization of the session and so we thought it would be a good fit So it's I'm going to talk about so it's The case for imported hydro for South Africa So a bit of background on our electricity system, which most of us here would be familiar with We mainly rely on on coal to generate our electricity Which is a problem from a CO2 point of view and We're in the process or we'd like to increase Access and we have shortages at the moment, but the issues of shortages are more short to medium term and and this Exercises looking more in the long term. So we're not touching. I'm going to look at the current Problems with shortages of supply But we've had a recent radical increases in the electricity price And looking ahead other than solving our short-term problems is Environment and sustainability. So I'm steering away from being so So intensive from a CO2 point of view Diminishing coal reserves and then finding cost-competitive alternatives that would provide energy security in the long term Without I mean, you know, so making sure The electricity remains affordable to not damper growth Employment and welfare So on the on the policy options Things that are on the table to constrain the the CO2 Emissions of CO2 price tax level or limits on the production from coal power plants So tackling the coal directly is one option Commitment to a nuclear program commit that is also on the table commitment to support gas infrastructure program whether it's would be gas coming into the program into the system via energy or Using our domestic resource if it exists commitment to nuclear program renewable program that we've seen or Opening the economy to opening the system to Better utilizing the resources that we have in the region and uncertainty that we faced is is growth the CO2 constraint that could be imposed externally on South Africa through various means global energy commodity prices the cost of of nuclear power plants and Risks of delays and overruns Availability and cost of our domestic gas the future cost of renewables and whether on the last point the whether those regional projects to Increase the utilization of our regional resource would have to get those projects on actually happening and whether they wouldn't materialize and Once they're up to ensure that they don't carry too much risk in supplying the electricity to South Africa And this paper looks just on the policy side. We we don't explore so much than certainty. We're doing other work. That's Delves a bit on the uncertainty side, but this particular focus is looking at opening our electricity system to a much bigger share of imported electricity than we currently enjoy and And for that we're we're using a combination of models Why we need because we're looking at a long term so 2035 to 20 50 horizon We need a tool that can do well out of sample. So we're not looking at Econometric type models for doing this analysis So models that are more kind of theoretically based and then We're on a tool that can can capture not just the changes on the energy system but the the economy-wide effects of Making changes on the electricity system because the the changes that we're proposing or that are on the plan cutting away from Involve quite radical changes in the electricity supply chain So the modeling tools that we have are either Traditionally called top-down economic models, which have a general equilibrium or the detailed energy systems model partial equipments Such as the model that we use by Scom and DOE for the IRP But both System both approaches have limitations. So the the economic models give you the full picture, but the energy Is not the energy system is not well represented and it makes over simplifications and fails to satisfy some basic Funding energy conservation for principles, for example And energy system models have the detail and capture those engineering realism but Fail to capture kind of the feedbacks Onto the rest of the economy So the different approaches that have been tried to try and and so and kind of Bridge that gap so the the three approaches on the table are People have kind of tried to put more detail on the on the general equilibrium model At the cost of having less detail on the rest of the economy or people have tried to do a A macro component and kind of tack that on an energy system but perhaps at well, the the Platforms that available at the moment don't provide the kind of detail that policy makers are are are looking for so what we The approach we've taken here is to use two detailed models that That talk to each other and the problem with that is you have those two detailed models They might not be speaking about the same world Because you have to kind of connect them at as many places as you can to make sure that they are internally Consistent and that's kind of the problem. We we're facing with the models, but anyway, we we give it a shot so the the general equilibrium model is the sage or e sage model Which start off as a standard free recursive dynamic model which has some fancy things like the allocation of allocation of investment to future capital is done endogenously And employment is so there's various labor categories are very detailed a lot of different sectors a lot of different income groups the Some of the labor can be done and endogenously through upward sloping labor supply curves And then there were some extra work that was done by mainly by James Thurlow When he was looking at the the CO2 tax for South Africa where he kind of added more detail on the electricity side Reconciling the 2007 Sam that we use in the CG to for example the energy balance of 2007 on the energy side, we're using the South African times model Which is maintained developed and maintained at the energy research Center And this is a satem is a full sector model which has all the supply and demand sectors represented of the energy sector But in this exercise, we're using only the electricity supply components of that model So times is a model generator. It's a modeling platform. It's got the same It's also a guy was technical detail Anyway, it was developed by IEA and is used by various organizations around the world and we kind of plug the South African data into that It's an optimization model Satisfying sort of minimizing Total system costs subject to constraints and the parameters of constraints would be the demand and reserve margins resource constraints and parameters would be things like describing the load profile fuel prices Existing power plants And their retirement profile and then characterizing new power plant options So these are the two models that we trying to get to talk together So starting with the economic model we do a run to 2040 With and argenous capital allocation and the electricity sector as it is in the base here, so it's completely Kind of as it was in the base here and just carries on without changing We get to the first pass at the electricity demand which we plug into the energy model and in the in the energy model we kind of we can start imposing some some constraints such as CO2 limits or change the import limits or Increase the coal price because of the CO2 tax that's imposed And then we get out of that Over the horizon to 2040 the The makeup for for one unit of it the production function for electricity So per unit of electricity what are the inputs of now if we are now relying more and coal and let and more on gas and less And coal or more in imports and less on domestic coal So that information gets then carried over to the economic model And we also impose the electric electricity price And the equilibrium is then achieved through Andogenous tariff andogenous taxation and subsidy to achieve equilibrium And we impose the Power plant construction expended to schedule that we got from from the investment program here So we know every year how much of our investment is going to power and we also know When those plants come online and we're giving all that information. So increasing we increasing the stock of capital Yeah, I didn't add it here It's the fourth item is that we know they increase From the energy model, we know how fast the the stock of electricity producing capital increases and and also The lag so we capturing the lag that there is when you're building for example nuclear plants Where there's a lag between your investments in your capital as the Plant takes seven to ten years to be built So the problem with The problem with exogenously with running the Exogenously specifying the the capital stock to the to the economic model Is that it'll three minutes Is that it'll try to It'll run that to the maximum the demand regardless of the price will follow that capital stock So we use a complicated. Well, not that many way. It's some iterative process Which may be better to read in the papers on running out of time To ensure that we're getting some demand response from the price and from the composition of the electricity sector And we obtain convergence here two examples. This is the electricity demand in 2030 So in the first iteration with this is where we start off and then after one iteration It drops in the next second in the third iteration kind of more or less stabilized drifting down slightly This isn't the carbon tax scenario and in a baseline scenario And so we use this linked model to look at four scenarios a baseline Where we don't impose any CO2 prices and we keep the We don't import more electricity than we currently importing and then we do a carbon tax of $30 ramping up from 2015 to 2024 Recycling the revenue from that tax by luring indirect tax tax rates and then we do one where we Open the borders allowing for more imports and then that finally we combine the tax and the limited restriction on imports So on the electricity demand we see The demand when we release the import to stay more or less It goes slightly higher than in the baseline and in case where we have the CO2 tax it drops quite a bit This is 9% by 2035 and The CO2 tax Causes quite a big change in the electricity price relative to the base And we see when we do the combined case where we allow imported hydro that impact is kind of reduced as The hydro comes in kind of in the late 20s early 30s So these this is the electricity production mix in 2025 in 2035 in the fourth scenarios and we see like So kind of as an illustrative case we were a lot we're quite bullish on the imports and we allowed 40% roughly of our electricity from from the region This is the image emission reductions from the baseline where we see here the combined effect of The less CO2 intensive and also that a reduced demand on the CO2 On the this is the socioeconomic impacts So we get we get some feedback then from there that we get the stuff that the politicians are interested in policy makers are interested in We see quite a high Well, we see So the CO2 tax kind of drops the average This is not average. This is Deviation from 2035 we see a small drop in GDP Whereas with the combined case we see a slight increase and the slight increase. I mean, it's explained quite well in the paper It's quite complicated. It's caused by the fact that we we're As this hydro is rolling out we're not investing anymore in the power sector and which allows so that the investments in power sector is normally subtracted from the gross capital formation So that leaves more capital to available to the other sectors and we don't have any of that lag between investment in the capital stock And so that results in the slightly we don't get as big an effect when we reduce the the imports And the detail in the CG model also allows to see kind of the winning and losing losing sectors and to conclude Those four points small negative impacts of the carbon tax on its own reducing household welfare And in the combined case we see some Potential huge benefits in a pseudo constrained case. Thank you


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In this presentation we will record a transaction related to a cash donation into our not-for-profit organization Let's get into it within to its QuickBooks online Here we are in our not-for-profit company dashboard.  So we're in the second tab second item, which says we have a fun drive We got the cash of the one eighty nine seven thousand We're gonna record this basically all is one transaction here. So this would be a similar transaction Every time we're gonna receive obviously a cash donation So this would be our primary type of journal entry if we're receiving cash donations typically We're gonna be increasing it from a journal entry standpoint that you check the two accounts affected will be the cash being increased So we have an increased a cashier the other side go into the contributions without donor restrictions And that's gonna be kind of like our income statement type of account or income account Type for a for-profit organization Recording that then cash going up on the balance sheet the other side then go into our income type of account So that's gonna be our transaction. We're gonna bring that back on over to our QuickBooks file. We're gonna use our standard type of form to do that. We're gonna use the same form last time This is the standard more general journal entry Probably should have started with this transaction first right with this is gonna be the Standard here the sales receipt. So we want to go into customers and then the Sales receipt this is gonna be the donation form. You'll recall it says sales receipt up top However, when we print the form it will say donation because we changed that item in it Then we're going to say this is gonna be donor To I'm gonna make a generic name. So this is gonna be the second donor We're gonna say I'm gonna add this donor as we go We would want the information from the donor with our contact information that send them our newsletter and so on and so forth But for the purposes of the practice problem donor too is what the name is gonna be I'm gonna select tab So let me type that and again, we've got donor to Tab so I'm gonna set that up. I'm gonna use a quick setup I'm gonna say save on it and then I'm not gonna put an email But if we had the email then of course we could send this out more quickly the billing address here And then we're gonna say that the date let's make it the second So we're gonna say this happens on the second and we're not gonna have any tag payment method We could say whatever the payment method will be I'm gonna say cash in our case and then Here note last time we put it into this clearing account because it wasn't really a cash donation It was actually something other than that and therefore we took it in and out of the clearing accounts The standard options for the cash donation are either we put it into Undeposited funds or we can put it directly into the checking account now We haven't set up the checking account so we'll have to set up the checking account But if we had set up the checking account It would be an option here and we can't set it up as we go if we choose to however Typically if you're see if you're receiving cash donations, it's you it's useful to use this under Undeposited funds so we got the undeposited funds on this item Because then it'll go into the undeposited funds and then we can go to the bank We can imagine taking all that cash to the bank at the end of the day Putting it into the bank and recorded it in the system as that lump sum into the system That's beneficial because we want to be able to do the bank reconciliation And it's gonna show up on the bank rec or the bank statement in the format of the deposit that we put in at the end of The day and therefore we want to put it in our system in the same grouping once it hits the actual checking account That will make the bank reconciliation easier so whenever you're thinking about deposits That's how your mindset wants to be how can I put this into my system here? So it will match the deposits in the format that they will be seeing on the bank statement And one method will often be to use this Undeposited funds now if you are getting all checks and you're entering the checks like into the bank as you get them Then you may be fine just entering it directly into the checking account Because because that's how they'll show up on the bank statement and you don't need this added step But if that's not the case if you have credit cards You often have similar kind of situation where you have to think about how you're gonna get those grouping of credit cards to show Up in your system to match to the banking system And if you're collecting cash then typically you have the same kind of situation if I just keep on putting in $5 cash amounts here I could probably tie it out to the end of the day But I would rather put it make it go through the undeposited funds account So that's gonna be that transaction. I'm gonna say the date. I'm gonna keep the same date on 010220 I'm gonna make the product is gonna be the donation same same item that we set up last time So the donation will then populate for us that item then is driving This donation to be going to the proper income account So the item will help us not to need to know then what's gonna happen to the financial statements, right? The idea here being that somebody that doesn't have a lot of experience with setting up the item or with Knowing what happens with the financial statements can still populate the sales receipts and make collections So I can imagine here. I'm making collections during the day that add up to this amount During the week or however long a month however long it's gonna be and then I can easily make those collections and make the sales Receipt or donation receipt here without having to know how to set up this donation I just simply say hey, it's the customer. Here's the donation receipt and that's it and not having to know What's the effect on the financial statement because that will be driven by the item which we set up last time? So we're gonna say this is gonna be the 189 7 189 7 and these are all gonna be going into Unrestricted so I'm gonna say unrestricted I'm actually gonna put it into the unrestricted for the fundraising So let's put it into the unrestricted category the subcategory of the fundraising now also note that as you set up this Donation when we set up the item it is possible to set up the class when you set up the item and therefore when you when someone Populates this information. They won't have to know about the classes either it should populate automatically as they enter this information Into the system. What's this gonna do when we record it? Well, it's a sales receipt So therefore it's gonna increase some type of cash account in our case the undeposited funds account The other side then go into the revenue account the revenue account being driven by this item the donation item Which is gonna be the the contributions unrestricted it will also put it to the class Which is gonna be unrestricted so that we can see it when we run the report of the income statement by class Let's check it out. Let's go ahead and save this and See what happens. So we're gonna save this and I'm gonna close this back out. I'm gonna open up then we got the hamburger open We're gonna go down to the reports reports on the left side We're gonna open up our two reports balance sheet and income statements. So let's open up the balance sheet reports Let's run the report for the year of 2020. So we're gonna say oh one oh one two zero to twelve thirty one two zero Then we will run that report run that report and then here we have the Undeposited funds now now notice it's pretty much a cash account But it's just not in the checking account yet You can imagine us doing multiple transactions that add up to this amount for example And then we need to go to the bank and deposit it and so then that's what we're gonna basically do next time It's put that into the bank the other side then it's being included in the equities included in the income statement And so we're gonna have to go to the income statement to check out the other side I'm gonna duplicate the tab as we saw last time. I'm gonna hover over this tab up top right click on it Duplicate that's tab. So now we got the balance sheet on the right We're gonna go back to the left to open up the PNL. We're gonna have the hamburger open We'll go into the reports on the bottom Then we're gonna be opening up the profit and loss reports the PNL Otherwise known as the income statement. So we'll open up the income statement. I'll change the dates up top once again So we'll make this for oh one oh one two zero to twelve 31 to zero gonna go ahead and run this report. I'm gonna close the hamburger gonna hold down control scroll up just a bit Oh hold on a second that wasn't control I held down That was that other button with the four squares on it or something. So here we got that we're at the 125 now I accidentally opened the profit and loss by class. So let's open both of them I'm gonna right click on the tab up top again. I'm gonna duplicate to this tab We're gonna need that profit and loss by class. I won't get rid of it I'll go back to the prior tab open up the hamburger and Then go back down to the reports Now the profit and loss by class I put into the favorites. You'll remember last time I put it into the favorites by hitting this little star.  So in the business overview you have the profit and loss by class profit and loss by class You probably want to put a little star by it because it is one of those items that you will use all the time And therefore it'll show up once you do so up top here Then the standard profit loss we can open up as well. So I'll open up the profit and loss So we got the profit and loss by class. We got the profit and loss Changing the dates up top and the profit and loss. I'm gonna say oh one oh one two zero two twelve thirty one two zero We'll run that report Close up the old hamburger and so there we have our contributions now note I labeled it as unrestricted here and we'll also see it unrestricted in terms of the classes Then we have the rent and then that's gonna be our net income the net income then showing up on the balance sheet If we go on over to the balance sheet in the equity section, there's the income that's in equity so far So closing up the hamburger here going back to the profit and loss. Let's take a look at the P and L by class now Profit and loss by class. You'll see that we have the un the unrestricted at the 35 8 And then I put the other amount into the fundraising. So maybe I should put This 35 8 into the into the fundraising as well And so let's do that and I'll show you how how we can make this adjustment fairly easily So we can adjust which classes they're in fairly easily by running this report then drilling backwards on it drilling back down to the actual Data input form. So we're gonna go into this 35,800 and I want to change the class of it So I'm gonna then click on the transaction that takes us back to the sales receipts Which is basically the donation form and then we're going to be changing this I want to change the class To the under the unrestricted, but fundraising so I want to go unrestricted fundraising and then I'm gonna save that item then we'll close this back out and scrolling back up go back to our Report summary so then back to the report summary. So now we have and if I go back up and Run the report again So there we have it So now we have the fundraising and we have the total unrestricted because that's a subcategory of the unrestricted and then we have the not Specified and the not specified we have the rent and lease because we're gonna we're gonna need to break that out We're gonna need to break that information out By percentage how we're gonna allocate those out and we'll do that basically at the end of the month in a similar fashion As we just did to reallocate this class up top Okay, so now the the next report that we've been we've been running I'm gonna go back to the first tab and I'm just gonna open up another report open up the hamburger here We're gonna go back down to the reports And the other report that we've been will often want to have it's gonna be that Sales by customer report which and notice the sales by customer. They're actually donations But I'm gonna go down. We're gonna use the terminology within quick book who owes you money. No, we're going into the sales and now we want the sales sales by Class we want sales by customer this time. Let's take a look at the details sales by customer detail Again, this is an important report so that we can provide this information to to the donors So we're gonna say that this is gonna be 010120 to 123120 run that report and Now we can see, you know donor one and donor two. There's our sales Contributions by donor that ignore this last component here. This shouldn't this is this is another component I was testing out on here So donor one donor two there's gonna be the activity the total of this report obviously 225500 adding up to the P&L the profit and loss here the 225 500 so if we go back to the to the classes that looks good you can also see similar information if someone had a particular question by going to the Hamburger, let's open the hamburger back up if you go to the sales item here Then you think of your donors in essence as customers with relation to quick books online So we would then go to the customer items I would then close up the hamburger so we have a little bit more room and then we can go into our information by customer So if we if we then go into our information by customer, we'll see the transactions there Here's the sales receipt transaction. You can then obviously go into the sales receipt You can print out that sales receipts as needed from this location as well So I'm gonna close that back out now I'm also gonna be printing out the trial balance so you guys can check your numbers as we go So just note that the other report that is is worthwhile to note Even though you might be using the financial statements most of the time and not the trial balance all the time is it if you Go to the reports down below and we open up the trial balance I typically just type it in there because they put it way down at the bottom and like the accounting area So I'll just type in trial balance And I'll close up the hamburger and I'm gonna run this for 2020 so I'm gonna say oh one oh one two zero two twelve thirty one two zero Run that report so we'll run that and there's our trial balance now This one's just a little bit easier for us To see because there's not any subtotals that has both the balance sheet accounts and the income statement account So all we have right now is the undeposited funds the the contributions Unrestricted and the rent and lease at this point. So let's stop it here next time We're gonna be taking this information out of the unrestricted and making the deposit it for it moving it on up to the clearing Or into the checking account will actually add a checking account as we do that as well So that's gonna be it for now. Let's get out of here


The G20 met this week in Argentina amid mounting tensions between the U.S. and China, who agreed on a temporary ceasefire regarding the trade war, leading gold to fall in the Dow to shoot up 288 points. But then, Huawei's CFO was arrested in Canada for violating sanctions and is now awaiting extradition to the U.S. China, of course, is demanding her release. Fearing a tit for tat response, the Dow plunged 784 points before recovering. With all this going on, G20 member states were able to discuss crypto, and rather than talk of further crackdowns, they were reasonably open to it. A summary of the meaning was published titled, Building Consensus for Fair and Sustainable Development. Crypto is mentioned once in reference to an open and resilient financial system that is crucial to support sustainable growth, while also promising to fight money laundering and terrorism. In short, crypto can be a force for change, but we want to tax and regulate it. In recent months, the crypto market, rather than being a safe haven from volatility in traditional markets, seems to be down when the stock market is down. Bitcoin held above 4K until Tuesday, but by the end of the week slumped under 3.3K. Weekly, the leading crypto was down about 20%. Monthly losses are just over 47%. Ripple was down 23% and 40% monthly. Ethereum did even worse, trading in double digits, down 31% weekly and 60% monthly. Although maps were mostly red this week, hodlers have a date when they can cross their fingers in February 2019. The SEC has set a new deadline for the Bitcoin ETF decision. Commissioner Hester Pierce, aka CryptoMom, who dissented over the SEC's decision to reject the Winklevoss Bitcoin ETF, told investors this week, don't hold your breath awaiting a BTC ETF approval. Also this week, Maduro fights fire with Petrofire. Binance launches its own blockchain. Eris X has a big funding round, and Bitcoin builds schools in Rwanda. I'm Molly Jane, and this is your Weekly HODLers Digest. Venezuela's national currency, the Bolivar, aka the Bolivar Severano, is doing so badly that it's causing the mainstream media to praise Bitcoin. In November, the Washington Post compared the leading crypto with the embattled national currency, saying, congratulations are in order. Bitcoin is a better store of value than the worst store of value there is. The cause of the national currency's dire performance is of course hyperinflation. Monthly rates are currently about 250%, and the IMF predicts inflation could reach 10 million percent by 2019. This is the biggest economic collapse that the hemisphere has ever seen. This is more or less twice as big as the Great Depression in the US. This is three times bigger than the largest recessions in Argentina or Chile. It's twice as big as the Spanish Civil War in terms of declines in incomes. So it's a collapse of unheard of proportions. In a foolish but typically misguided effort to circumnavigate the hyperinflation and crippling sanctions, the Maduro government opted to launch a national crypto currency, an effort that was widely deemed DOA. Each petro is meant to be backed by a barrel of oil. But Reuters reported earlier this year that the oil fields meant to supply this oil are in fact nowhere near ready for production. The petro itself is not available on any major exchanges and Trump banned US citizens from dealing with it. If the reporters were on the ground, they would check out the oil fields there. There's no development whatsoever. That field is at least five to ten years away from meaningful production, even if they were to start today. The town is in destitute conditions. It's not a thing. It's not credible that these people are backing the petros with the oil coming from this area. A lot of people during 2017 saw that they could make easy money doing an ICO. And I think that the Maduro administration caught on to that. And they just wanted to raise money quickly by selling air. If you really read the white paper very closely, you'll see that they don't promise you to give you the oil back, like if you have the petro as a crypto asset. They promise you to give you the Bolivar denominated price of the crypto asset based on an exchange rate that they themselves control. So they are basically giving you money in a currency that they can and have shown to hyperinflate also at an exchange rate that they control themselves. So they're basically giving you nothing. It's the most absurd investment in the world. Despite all of this, Maduro plods on, recently increasing the reference value of the petro from over 3,000 Bolivars to 9,000 in a desperate response to tackle the economic turmoil currently engulfing his administration. Hot off the heels of this announcement was one that, on the face of it, would turn even Bernie Sanders conservative. Maduro raised the minimum wage of whopping 150%. Venezuelan economist Leonardo Boondiak believes that the wage increase will only lead to further hyperinflation and was highly critical of the national crypto. He said, to anchor the Bolivar to petro is equal to anchoring it to nothing. One way of beating hyperinflation is dealing in a currency that's designed to be anti-inflationary. And so, some ordinary Venezuelans are actually mining crypto and even using crypto to get money out of the country. Some are even using it to avoid violence from corrupt government forces. Without physical cash, it's much more difficult to demand bribes or shake someone down. We spoke to one such Venezuelan about the clandestine crypto community where he is. Here, electricity is very cheap. Even if Bitcoin was worth $100, it would still be profitable to mine in Venezuela. Producing an entire Bitcoin could end up costing around $10. The electricity costs are so low since they are subsidized by the government. The same happens with gasoline. As the price of Bitcoin dropped below $5,000, a lot of miners in other countries shut off. The difficulty went down as well. And so now, mining became even easier for us. The president said that it's already possible to use Petro to pay for electricity, water, and so on. However, I think Petro is still in its beta phase. Very few people, almost no one, owns Petro. Personally, I don't know anyone who owns Petro, as it cannot be used for everyday transactions. Peer-to-peer crypto exchange Paxful is using Bitcoin donations to build schools in the African country of Rwanda. Since the hashtag built with Bitcoin campaign was launched last year, Paxful raised the relatively modest sum of 15 Bitcoin and yet still managed to open two primary schools. We encourage the cryptocurrency sector to contribute more to humanitarian projects. The hashtag built with Bitcoin initiative is an example of Bitcoin being used as more than a speculative tool, but as a testament to the usefulness of cryptocurrency, said Ray Yusef, the CEO and co-founder of Paxful. Paxful plans to build 100 more schools around the country by leveraging the power of blockchain. Besides traditional subjects, Rwandese students will be learning about blockchain technology and how to transact in Bitcoin and exchange it with the local currency. Potentially useful knowledge in a country with a burgeoning blockchain community. The local government has been showing particular interest in this space. We asked Paxful CEO Ray Yusef to give us more insight into the project. Paxful went all in and we built the school. We went there and the school was built. We actually had children there and we said, hey, this is amazing. Let's take it a step further, right? We actually started upgrading the school, providing lunches for the kids, giving them uniforms, paying their teacher's salary. We even got them health insurance for a year. And then we thought about ways we could expand the project further. Built, built, that's the key. We want to build things. We want to build structures and we want to fund them and we want to have education being the focal point of this. So if you could name two things that you wish you learned in school that you did not learn, what would they be? For me, it was always finance, learning how to use my money, and nutrition, right? So for me, the big payoff is now, you know, we can actually introduce that kind of curriculum to these kids, teach them about money, teach them where the money comes from, teach them how to best use their money, how to invest it, how to save it. The peer-to-peer finance is going to help the emerging world. Why? Because we're actually, the emerging world is doing it themselves, right? They are, we're giving them crypto and we're teaching them how to take that crypto, sell it in their local economy. So we donated $100,000 to the second school, right? And we gave them Bitcoin, right? And they took the Bitcoin and then we showed them how to sell it on taxable for a wanded francs, right? And they got, I think, an additional 5%, right? Off of that, so we sent them $100,000 but they actually got a hundred and five, right? And with that, we could pay for health insurance for the kids and, you know, get them really nice cute little uniforms, toys, et cetera. But the point was, it's peer-to-peer finance. We educated them on how to use crypto. Crypto by itself is not enough. You have taught these people there that, hey, cryptocurrency is a real thing. You can turn this into money, right? And then, you know, even so, some of them have to start their own business doing it as well, right? In very simple import-export way where they could play on the arbitrage of cryptocurrency, their local economy. Binance, the largest crypto exchange in the world by trading volume, intends to launch its own native blockchain, Binance Chain. Like Ethereum, Binance Chain will facilitate ICOs and allow for the creation of new cryptocurrencies. As the company revealed in a tweet, on the platform, millions of tokens can easily issue projects. Speaking of Forbes Asia Forum in Singapore, finance CEO CZ said the platform will be based on an old idea of crypto and it will serve to increase cryptocurrency adoption globally. Later this week, CZ released a demo video preview of the upcoming decentralized exchange, DEX, to be built on Binance Chain. We reached out to CZ and asked him more details on his upcoming project. The Binance Dex is really a decentralized exchange where it allows you to trade one token to another token on the Binance Chain. So very similar to Ethereum, URC 20 tokens. But the Binance Chain also allows you to send and receive the Binance Coin, which is a native coin, plus other tokens. So the blockchain can allow you to send and receive directly if I want to send it to you. The Binance Dex also lives on the Binance Chain but allows you to trade in a decentralized manner. Cryptocurrency is supposed to be cheaper to transfer and is supposed to be instantaneous. But given, I think initially it did that, but then the network, given the popularity of crypto, now the two main popular networks are very saturated. So we're kind of losing that. Now transferring on Bitcoin network sometimes takes five to $10 or more. So we want to go back to a fast and fast and cheap transactions. So that's where, I guess when I was referring to the original inspiration for crypto, that's what I was referring to. I think the current decentralized exchanges are either slow or have relatively difficult to use UI. So I think the main thing for us is that we're combining a very easy to use UI on top of a very fast, high capacity chain. So we believe that will improve the latency and the user experience on the decentralized exchanges. And when that improves, we're hoping to see the liquidity increase on the Dex and hopefully make a contribution to the market. So we are working with many partners on the business side to have partnerships to use Binance Coin as the coin in the ecosystem for payments, including many large travel booking sites or platforms. We wanna see a situation where the merchant can accept whichever currency they choose and the retailer can pay in whatever other currency they wish they have. And then we do the conversion in between. So it has to be instantaneous. Newly established crypto exchange, ErisX, secured $27.5 million in funding from big investors, including Nasdaq Ventures and Fidelity Investments. According to ErisX CEO, Thomas Chippus, the funds will be used to hire more staff, build out infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets. Starting from next year, ErisX intends to allow users to trade Bitcoin, Litecoin and Ethereum on spot markets. Plus, we'll run Bitcoin futures contracts with increasing financial support from leading-edge firms. ErisX stands to provide the most robust, secure and regulated digital asset offering available to both institutional and individual participants, said Chippus. We reached out to James Putra, director of digital asset project strategy at Trade Station, a brokerage from that participated in the funding round to talk about the reasons behind such a major deal. The players that have interested concern in this ecosystem are starting to congregate on platforms like ErisX and it starts to create an environment and ecosystem that we as a current industry are much more familiar with operating with and we can bring that level of, let's say, certainty or lower risk to the mass market. We really like ErisX because it starts to signal a move towards market structure maturity. And if you look at what they're doing, they've really taken a step to pull together a really unique set of partners. They're bringing together partners that are brokerage firms, partners that are custodians, partners that are liquidity providers, partners that also provide cash management capacity, and they really start to round out a market structure that looks and feels more mature and makes it more accessible for institutions like Trade Station or other brokers to access that market because they operate in a familiar way for us. From our vantage point, we really see a lot of interest and activity in advancing the overall market is making it accessible more for the mass market, which is really interesting. And like I said, just getting the work done and trying to fulfill the promises and not have to deal with all of the hype that we saw as the huge prices were up there. Generally speaking, what happens in these crypto winters and what has us excited as well as many of our colleagues is that it's the time when the hype has died down and it allows us to actually focus on getting things done. Pump and dump schemes generate $7 million a month in trading volume. It is an old school crime normally found in commodities trading, now rampant in the crypto market. A de facto criminal will choose a random crypto, accumulate it and announce a pump and dump on a private telegram group. Unsuspecting victims will then see the rapidly inflating price and buy it. The organizer of the pump will then unload all of their crypto onto them and in a matter of minutes be away with their funds. Now, two researchers in Imperial College, London developed an algorithm to spot when these schemes might occur. The ramifications of this are huge for a much needed crypto investment protection. Over 200 of these schemes were studied between July 21st and November 18th. They focused on one particular pump on November 14th at 1930 GMT, announced to several telegram groups, the largest of which was McAfee Pump Signals with 12,000 members. Researchers Zoo and Live Shits found that anybody who got it on the action, even 18 seconds after the pump began, would almost certainly lose their investment and would be sitting on a large holding of worthless coins, their only hope to wait for the next pump and dump. The machine learning algorithm developed by the pair of researchers can identify unexpected trades and obscure coins and recently found six schemes when it was implemented on live data. So it's possible to develop an investment strategy based on our machine learning model. We have very conservative assumptions. We are not even assuming that you are able to, you know, get like 200, 200% gain in one pump, even though that's what advertised by the group members. And that's actually what we observed as well. But, you know, it always depends on the timing. So we have very conservative assumptions, such as you only get half of the gain. And even with that assumption, it's likely, it's proved to be robust that you can get a gain of 80% within three weeks. So that's the return that we demonstrate. Investors still need to be very careful because, again, those coins are arbitrarily selected by the group organizers. They are hand-picked by the group organizers. So if you are, you know, too greedy and if you invest too much money in those coins, in the illiquid coins, they're by nature very illiquid, right? If you invest too much money in those coins, you're likely to move the market even before the actual pump. And if the pump organizers observe unusual market movements, it's likely that they will switch the coin last minute. That's something that we also observed in the telegram chat history. If they observe unusual movements prior to the pump, they would just cancel the pump. Raising the awareness, obviously, that's one thing that we wish to convey through the paper. Hopefully, you know, other researchers will come and work on some of these subjects and hopefully regulators will start paying more attention here as well. Even amid the falling crypto prices, the Bitcoin subreddit reached one million subscribers this week. And in this current bear market, Binance CEO CZ decided to get a very permanent reminder of crypto. He got a tattoo of the Binance logo on his arm. What crypto logo would you get tattooed on your arm? Comment below. And as always, like, subscribe, and hodl. Coin Telegraph, like, subscribe, and hodl.


Hi everyone, Joe for jaspyscasebreaks.com, coming at you with 2019-2020 Panini Contenders Optic Basketball 2 box pick your team number 48. And if you follow the instructions here, you'll have a shot at some money at the end of the break. So big thanks to all of these folks for getting into it. Nice, pick your team 48. Most of you followed the instructions, good luck in the break and good luck with the break credit. I cut back there.  There it is, zoom in with the Golden State Warriors. Historic slams right here, Orlando Magic, Aaron Gordon. Behind Julius Randall is Kemba Walker, Silver and Nikola Jokic, Red. And behind Julius Randall is Chuma Okiki, rookie ticket on-card autograph for the Orlando Magic, Knight with that one. Has he been playing? What's Chuma Okiki been doing? Chuma Okiki, the reason why I'm interested is because he still has rookie eligibility this year. He was injured all last year, didn't even play a single NBA game. So with a year of just experience under his belt, I wonder, oh he's actually played four games. How many minutes are you playing here? About 18 and a half minutes a game, a couple of points, a few rebounds, a couple of assists a game, maybe a steal, a block around there. Alright, one to watch I think. One to watch. Because he's a year ahead of all the other rookies. So he could be a rookie of the year candidate as the season goes on. All the other rookies from this year, they didn't have a summer league, they didn't have a tournament to play in, so they're going to play a little bit before they get their legs underneath them. RJ Berry, we want to see him do well this season too. RJ Barrett going to build with the Knicks. We've got Jamerant Uniformity, nice Memphis, that's going to go to Adam. Alright, there's Markel Foltz and Tim Hardaway Jr. Red. Oh yeah, LeBron's birthday today, happy birthday LeBron. I should have put maybe a triple double prop on that. And there's Carson Edwards, 132 out of 149. Rookie ticket autograph for the Seas, that's going to go to Robert Runkle.  That's it, quick little two box break. I did add another two boxer. If you're watching live, we can run this back. Now let's give away some money. Love giving away money. So let's sort by column A again, by at least by an even number of teams. Half of that becomes an entry. So Adam bought two, that's an entry. Bill, you bought three, but two count for the purposes of this promo. Still an entry. Eric J with two, Eric K with two, that's an entry. Josh, you bought four, that's two entries. Knight with four, that's two entries. Raymond de Jesus, two, that's an entry. Robert Runkle has six, that's three entries. Sumin has two, that's an entry. And Steven Wright has two, that's an entry. All right, so here's a new list right here. So once again, it'll be the top five after seven, we'll get 60 bucks each. Good luck. One, two, three, four, six, and seven at the final time. After seven, there's the top five. Bill, Adam, Knight, Robert and Josh. Top five, 60 bucks each. I'm Joe for jasphyscasebreaks.com. Congrats, check your emails for that and your spam folders too. And yeah, that's all I got, jasphyscasebreaks.com. Here's more, let's do more.