BitcoinOpinion That cryptocurrencies find uses in failed states and in countries where citizens have lost all semblance of privacy means they might not worthless By Kenneth Rogoff December 24, 2018 3:49 PM (UTC+8) Share Tweet Linkedin Print Email Share 0 Comment 0 With the price of Bitcoin down 80% from its peak a year ago, and the larger cryptocurrency market in systemic collapse, there is a distinct possibility that “peak crypto” has already passed us by. But don’t expect to see true believers lining up to have their cryptocurrency tattoos removed just yet. At a recent conference I attended, the overwhelming sentiment was that market capitalization of cryptocurrencies is still set to explode over the next five years, rising to $5-10 trillion. If so, for those who watched the price of Bitcoin go from $13 in December 2012 to around $4,000 today, this year’s drop from $20,000 is no reason to panic. The dailyReport Must-reads from across Asia - … [Read more...] about Bitcoin: a digital lottery ticket for a dystopian future?
100 million lottery after taxes
Who wants to be a billionaire? For $2 a ticket, you have chance to be among the richest people in the world if you beat the longshot odds of 1 in 303 million to win the Mega Millions lottery jackpot of $1.6 billion Tuesday night. The sum reached a world record for lottery jackpots after there were no winners claimed a $1 billion prize on Friday. It is so much money that if you had it all in $100 bills, you could make a stack about as high as the World Trade Center in New York city, the lottery's website said. "Mega Millions has already entered historic territory, but it's truly astounding to think that now the jackpot has reached an all-time world record," Gordon Medenica, lead director of the Mega Millions Group, said in a statement. But you are more likely to get killed by a shark than win, with odds of a shark attack at 1 in 3.7 million, according the Tucson, Arizona-based International Wildlife Museum. After taxes, the cash value of the Mega Millions prize will be an estimated $904 … [Read more...] about News U.S. lottery jackpots climb to $2.2 billion combined after no winners
A Canadian teenager who just turned 18 landed herself in the enviable position of getting C$1,000 (S$1,015) a week for the rest of her life. Ms Charlie Lagarde from Quebec had bought a C$4 lottery ticket and a bottle of champagne to celebrate her birthday, which falls on March 14, reported the BBC. After she won the grand prize of the Gagnant a Vie lottery, she was given the choice of either taking a lump sum of $1 million, which would be taxed, or receiving a tax-free weekly payment of $1,000 for life. She consulted a financial adviser, who advised her to choose the weekly amount because of her young age. After about a week of weighing her options, Ms Lagarde went for the latter, the BBC reported on Wednesday (March 28). "It's without taxes so it's equivalent to a salary of more than C$100,000 a year, so it's a great start in life for that young lady," Mr Patrice Lavoie, a spokesman for the lottery corporation, was quoted as saying. He also added that it was her first lottery ticket. … [Read more...] about Canadian teenager to get S$1,015 a week for life after winning lottery on her 18th birthday
By The Canadian Press Tues., March 27, 2018 MONTREAL—A Quebec teen who bought a lottery ticket for the first time to celebrate her entry into adulthood has walked away with $1,000 a week for the rest of her life. Charlie Lagarde won the grand prize in the Gagnant a Vie lottery. Lagarde, who hails from the Monteregie area just southeast of Montreal, was celebrating her 18th birthday. Loto-Quebec said she went to local liquor store for sparkling wine and also bought herself a $4 scratch lottery ticket at a nearby convenience store on March 13. After winning the jackpot, she took a few weeks to decide on whether to accept a lump sum $1 million payout or the $1,000 weekly lifetime annuity. Article Continued Below Have your say A financial adviser told her to opt for the weekly amount given her age. “It’s without taxes so it’s equivalent to a salary of more than $100,000 a year, so it’s a great start in life for that young lady,” … [Read more...] about Quebec teen buys first-ever lottery ticket to celebrate 18th birthday, wins $1,000 a week for life
caption Chris Hughes is fighting for a guaranteed income for Americans with his organization the Economic Security Project. source Sarah Jacobs/Business Insider Chris Hughes rose to prominence as a cofounder of Facebook and the director of online organizing for Barack Obama’s 2008 presidential campaign. His new book, “Fair Shot,” is part memoir, part policy proposal. Through his organization the Economic Security Council, he’s advocating for a monthly check of $500 for Americans making under $50,000, to be funded by those in the highest income bracket. He said his early successes, as well as his failure with the New Republic magazine, has shaped his approach to this latest venture. Chris Hughes had the good fortune of making it to Harvard, and the even better fortune of being Mark Zuckerberg’s roommate. As the most outgoing of the … [Read more...] about Facebook cofounder Chris Hughes opens up about sudden wealth, how a walk with Mark Zuckerberg changed his life, and why he wants millions of Americans to get free cash each month