Forget BRICcoin and GoldBRICs, Greenbacks Rule

Dateline: Las Vegas, 30th October 2024.A Russian plan to break the grip of the U.S. dollar through a new international payments network met a cool reception at the BRICS summit in Kazan a few days ago. Despite all of the excitable talk of new reserve currencies and gold-backed BRICSbucks, the greenback’s position is actually strengthening because of an entirely different monetary innovation: dollar-backed stablecoins.ShareDollar Dollar BillsThe news that in Turkey some 4% of GDP is already going on buying stablecoins is certainly surprising but it is not — at least to people who read my book The Currency Cold War — shocking. The Turkish Lira (TRY) is in fact the fourth most used fiat currency in the cryptocurrency world, as stablecoins and “meme coins” have surpassed even Bitcoin in the country. Right now, USDT-TRY (ie, Tether) is the largest trading pair by volume on Binance, reaching over $22 billion, more than five times greater than the next largest pair which is (astonishingly) PEPE-USDT, which has $4 billion.It is misleading to refer as some people do to this trend as being about cryptocurrency adoption, since it has always seemed to me to be the case that cryptocurrency demand in developing nations is largely a proxy demand for dollars anyway. What might this mean for a country such as Turkey?In that book I talked about the difference between “prime” currencies (eg, the US Dollar) and “permeated” currencies. Permeated currencies exist and are used in general circulation but are supplanted by other currencies for transactions that matter. I can illustrate the…Forget BRICcoin and GoldBRICs, Greenbacks Rule

The Waffle Tree (video)

Reminder, some people will look at a tree that provided their family syrup for 100 years and want to know why it never gave them waffles. If the tree did, somehow make them waffles, these people would ask about the eggs and bacon. Don’t deal with these people. @mason.pelt your reminder some people will look at a tree that gave their family syrup for 100 years and wonder why it never gave them any waffles. ♬ original sound – Mason Pelt Watch the video on, TikTok / Instagram The post The Waffle Tree (video) appeared first on Mason Pelt.The Waffle Tree (video)

Lilly Allen, Feet Pics and Spotify (video)

Lily Allen apparently makes more money selling her feet pics online than she earns from 8 million monthly Spotify streams. A sad commentary on artistry, but great news for people with toes. Learn more on Variety @mason.pelt Lily Allen says feet pic earn more money than Spotify. ♬ original sound – Mason Pelt Watch the video on, TikTok / Instagram The post Lilly Allen, Feet Pics and Spotify (video) appeared first on Mason Pelt.Lilly Allen, Feet Pics and Spotify (video)

Comedian Bombs At Political Rally (video)

Tony Hinchcliffe known for his controversial stand-up, made global headlines after attempting a set at Donald Trump’s presidential gala at Madison Square Garden. Hinchcliffe comment comparing Puerto Rico to “a floating island of garbage” sparked immediate backlash, even prompting rare damage control from the Trump campaign and condemnation from prominent Republicans. Hinchcliffe’s comedic style, is rooted in roast culture. He first gained attention on the celebrity roast circuit and later cultivated an anti-woke persona through his podcast and live show, Kill Tony. This show, hosted at Joe Rogan’s Comedy Mothership in Austin, Texas, showcases open-mic performances, often punctuated with harsh commentary on participants’ appearances and backgrounds. Hinchcliffe’s alignment with the MAGA movement reflects a broader trend of polarizing figures rallying around anti-cancel-culture narratives. However, the backlash from both sides—political and social—could have far-reaching consequences. With the election just days away and Latino voters potentially influencing key battleground states, the controversy surrounding Hinchcliffe’s remarks has raised questions about its impact on the campaign’s momentum. The Film Idea What if stepping up at Madison Square Garden to faceplant like a first time open micer was the goal? I’d watch a film about a version of Tony Hinchcliffe as an ultra-liberal who spent 20 years deep undercover as a conservative, all to deliver a speech at a presidential rally intended to sway the election with pure tactlessness. @mason.pelt A film about a comedian who goes under deep cover as a conservative in order to eventually give the worst comedy performance of his life…Comedian Bombs At Political Rally (video)

Open-source TikTok alternative Loops coming to the fediverse

The fediverse is growing.Loops, an open-source TikTok clone, has started to accept sign ups, as first reported by TechCrunch.The short form, looping video platform will provide an open-source alternative to TikTok in the same way that Mastodon provides an alternative option for X, formerly Twitter. Loops was created by Daniel Supernault, the founder of the open-source Instagram alternative Pixelfed. The project is being financed by user-support.For those unfamiliar, the fediverse is a group of social media platforms that are working together through a federated protocol in order to allow users to communicate and interact with one another between social networks. A number of online platforms like Mastodon, WordPress, Flipboard, and even Meta’s Threads have joined the fediverse in the past year or so. By implementing this protocol, Threads users can choose to have their content automatically become accessible on platforms like Mastodon.Loops will work much like TikTok, allowing users to post short form videos as well as comment on and share clips. However, for new users, content will be held in a moderation que as they build their “trust score.” This trust score will also help the platform hide certain comments and apply warning labels to clips. Users with high trust scores will be able to post content immediately without having to wait for approval. SEE ALSO: Bluesky gains half a million new users in one day after X changes how blocking works SEE ALSO: Bluesky is developing paid subscriptions — but will always be free to use, it says…Open-source TikTok alternative Loops coming to the fediverse

Bluesky is developing paid subscriptions — but will always be free to use, it says

Bluesky is having a moment.The small upstart social media platform has been growing by leaps and bounds over the past few months. Despite stiff competition from much bigger competitors like Musk’s X and Meta’s Threads, Bluesky’s profile rose in the period after Elon Musk acquired Twitter, and then it managed to maintain its momentum. On Thursday, Bluesky announced some news: The decentralized platform has now grown to over 13 million users and it just raised $15 million in financing.However, further buried in the announcement was another interesting tidbit: Bluesky is planning to launch a paid subscription service. SEE ALSO: BlueSky is pitching itself as a Threads alternative now Bluesky’s paid subscription For those who fled Musk’s X due to the new paid model, let’s address those concerns first and foremost. Bluesky says it will always remain free. And, unlike how Musk’s X works, the paid subscription service will not provide paying subscribers with prioritization over free users.So what will paying subscribers get? According to Bluesky, the company is currently developing a service that will allow paying subscribers to upload longer videos and further customize their profile page with different themes and avatar frames.”Paid subscribers won’t get special treatment elsewhere in the app, like upranking premium accounts or blue checks next to their names,” Bluesky chief operating officer Rose Wang wrote in a series of posts addressing likely concerns from users.Of course, algorithm boosts, blue checkmarks, and prioritization in the replies are all bonuses that come with X’s paid subscription service X…Bluesky is developing paid subscriptions — but will always be free to use, it says

They Want Dollars, Not Dogecoins

Dateline: San Francisco, 24th October 2024.Andy Warhol once said about money that it has a kind of amnesty. He said “I feel, when I’m holding money, that the dollar bill has no more germs on it than my hands do. When I pass my hand over money, it becomes perfectly clean to me. I don’t know where it’s been – who’s touched it and with what – but that’s all erased the moment I touch it”. Unlike Bitcoin, of course, which retains the entire history of all transactions in public and in perpetuity. which is one of the reasons that while it may be an interesting new kind of digital commodity that in certain circumstances can exhibit money-like behaviour, it is not money.ShareElection Prediction: Crypto Does Not MatterIf you spend time on X, as I do, you’ll have the impression that everyone is talking about cryptocurrency and that a great many people are cryptocurrency owners. The figures, however, tell a different story. Two Federal Reserve surveys put US adult crypto ownership in the range 8-10% respectively in 2022, while Nielsen Homescan data has it a little higher (around 12%). Pew has American crypto ownership at 11-12% in early 2023. The Bank of Canada calculates bitcoin ownership there similarly around 10% in the same timeframe, while the Ontario Securities Commission put it at 13% before the crypto winter.Subscribe nowBitcoin is not MoneyBitcoins are not evenly distributed. There are something like 50 million non-empty Bitcoin wallets out there but nearly half of all…They Want Dollars, Not Dogecoins

Elon Musk's X further squeezes developers with apparent new API fees

Elon Musk’s X appears to be adding yet another fee for third party apps, according to an affected app developer.After acquiring then-Twitter, Musk made big sweeping changes to the platform’s API, which allows third-party developers to integrate X into their platforms. The biggest change? Charging thousands of dollars just to access X’s API, which used to be free to use for most developers.Under Musk, many app developers found that they’d have to pay $42,000 per month, in order to continue using X integration. Some third-party companies like Sony, Microsoft, and Nintendo just removed X from their app. Many apps that depended on X API access had to shut down. However, some companies had no choice but to fork over the $42,000 per month just to access the lowest-priced tier of X’s Enterprise API plan.  SEE ALSO: Why Elon Musk is skipping around on stage for Donald Trump Now, those companies that are paying tens of thousands of dollars to X per month are being asked to pay additional fees to the tune of $1 per month for each account that will be connecting to X’s API through their app. Again, this monthly $1 per account fee is on top of the $42,000+ per month companies are already paying for X API access.Musk squeezing developers dry for a buckSocial media management app Publer was the first to go public with the most recent X API changes.”I just got off a call with our Enterprise Partner Manager at Twitter/X, and unfortunately, I have…Elon Musk's X further squeezes developers with apparent new API fees

Tegan and Sara open up about being catfished and the dangers of internet culture in their documentary 'Fanatical: The Catfishing of Tegan and Sara'

Erin Lee Carr’s latest documentary ‘Fanatical: The Catfishing of Tegan and Sara’ investigates the mystery of ‘Fake Tegan’, a hacker who has been terrorizing the legendary band for over 15 years.Tegan and Sara open up about being catfished and the dangers of internet culture in their documentary 'Fanatical: The Catfishing of Tegan and Sara'

12 days before election, Meta oversight board frets about political speech moderation

With 12 full days left until the 2024 U.S. presidential election, there are still concerns about if Meta can properly moderate political content on its platforms.Two months ago, a Facebook user put the faces of presidential candidate Vice President Kamala Harris and her running mate Minnesota Governor Tim Walz on top of Jim Carrey and Jeff Daniels’ characters in the Dumb and Dumber movie poster. The poster features Carrey and Daniels’ characters grabbing each other’s nipples — you know the one. The user then captioned it with the emojis “🤷‍♂️🖕🖕.” SEE ALSO: X hiring content moderators for a new ‘Trust and Safety’ center in Austin Meta removed the post because it went against the platform’s Bullying and Harassment Community Standard, specifically because that standard doesn’t allow “derogatory sexualized photoshop or drawings.” The user appealed Meta’s decision, which moved the decision up to Meta’s Oversight Board. After that, Meta “determined its removal was incorrect, restoring the post to Facebook.”Meta’s oversight board is a group with more than 20 members, including academics, policymakers, and journalists, and this group makes content moderation decisions on Facebook and Instagram. The board wrote that Meta’s handling of this post gives them “serious concerns” about Meta’s ability to moderate political content on its platforms.”This post is nothing more than a commonplace satirical image of prominent politicians and is instantly recognizable as such,” the board wrote. It continued: In the context of elections, the Board has previously recommended that Meta should develop a framework for evaluating its election integrity…12 days before election, Meta oversight board frets about political speech moderation