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The Psychology Of Marketing

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The Psychology Of Marketing

 

Marketing aims to identify and satisfy customer demands by providing products and services. The marketing process includes exploring, creating, and delivering value to meet a target market's needs, whether online or at trade shows and public events. 

The decision to launch a marketing campaign is reasonable based on several factors, such as the availability of products, the need to correct erroneous information, or a desire to drive traffic to a particular website. 

You can implement a marketing campaign to emphasize specific themes or attributes and select a target audience. These themes or features may inform customers about the value of that particular product or service or inspire them to purchase it. It is essential to know your target demographic, as it allows you to tailor your ads to meet their needs and desires.

Marketing arose as a result of the rapid development of civilization. As long as there was an excess of demand over supply, manufacturing companies could concentrate on production only. However, with the rapid growth of technology, the production process accelerated, and gradually the market began to satiate until supply began to exceed demand. At that moment, solving how and what to produce was already necessary. 

With the modernization and simplification of production, the number of companies on the market also grew, and consumers got more choices. With increasing competition, companies began to address the question of what steps to take to make consumers choose their products. And hence there was space for the emergence of marketing.

 

Thus, marketing creates links between the market and businesses. It is based on human needs and desires. The human factor is applied and manifested both on the demand and supply sides. It is evident that psychology will also play a role in marketing.

Five Basic Psychological "Tricks."

1. Reciprocity (commitment)

    – give a little something for free, and then it'll come back to you

      as no one wants to be in debt 

2. Liquidation Offer and Consistency

    – we don't all like to make decisions 

    – we are afraid of the new and the unknown

    – we'd better shop at a friend's

3. Price Anchor and Contrast

     – When something's on sale, we go and shop

4. Paralysis of Decision-making

    – make it easier for people to make a choice and make an offer that, at a glance, 

      is the best possible solution you can buy

5. Social Proof

    – a lot of people have already bought it.

More About These Five Points:

What is the principle of reciprocity?

One person gives another a "gift," and the donee feels obligated. Thus, they feel a natural obligation to return the gift (to meet the following requirements of the donor).

What is a liquidation offer?

It is an offer so convenient and cheap that we do not have to think about buying for a long time. The price tag of such a liquidation offer is often meager, so we just do not have to consider for a long time whether it will pay off for us or not.

How does the principle of consistency work?

The principle "advises" us not to take risks and do what we already know and have tried. It protects us from the fear of the unknown. It is the principle people follow when they shop in the same supermarket for years, even if a few meters away is a new modern supermarket, which is cheaper and has a broader range.

What is a price anchor?

Discounts in marketing can work precisely because of the price anchor. It is the price tag or value of the goods. For example, when a product costs 100 USD, the price anchor equals 100 USD. When the goods suddenly have an "action" price of 69 USD, it seems advantageous to us thanks to the price anchor.

What is the paralysis of decision-making?

It is caused by more similar offers where the customer hesitates on what to choose.

Eliminate selection where possible or pre-select the most crucial option – the most effective solution to decision paralysis.

How does contrast work in marketing?

It is similar to a price anchor. In short, we compare two variants (more expensive / cheaper). And naturally, we choose the more profitable one. 

If it is not evident at first glance which offers are better, then follows a decision paralysis. In this case, customers often choose neither because they are looking for the best possible solution (convenience, savings, etc.) and cannot make a choice.

What is social proof?

It's confirmation from other people that our decision is the right one. These are references, sales figures, but also, for example, restaurants full of people.

 

 

Half of all our activities are based on habit. 

In marketing, on the contrary, we need to break the potential customer out of his habit. But psychologists have observed that we are most accessible when we have a life change – we are moving, we have a baby, we are approaching 20., 30., 40., 50…. birthday. 

Finally, Something About Colours

Colour psychology is the study of hues as a determinant of human behaviour.

Carl Jung was one of the pioneers of the interpretation of colours and their significance for the human psyche.

Jung said,"colours are the mother tongue of the subconscious." Colour influences perceptions that are not obvious, such as the taste of food. Colours have qualities that can cause certain emotions in people. They can carry a specific meaning.

        

 

What Is New In The Last Years

Biochemical marketing, as the new type of marketing is called, can increase efficiency by up to half and reduce costs by 70-80% in the format of low-cost multi-layered marketing. And in doing so, it is enough to know and use the biochemistry of four substances generated in a healthy human body: serotonin, dopamine, endorphin, and oxytocin.

Each of these substances has its own features and functions. Still, they are all responsible for positive changes in the human body, increasing the level of trust between people, reducing stress and anxiety, and creating a sense of well-being. And thanks to this, low-cost marketing can be done through public relations, social media, events, etc., with the help of biochemistry.

 

In no case should we forget, whatever methods we use, that our goal is a satisfied customer who returns. The applied psychology of the marketing world helps to find the necessary keys to understanding how the human mind works and is the basic knowledge of getting potential customers to buy your products eventually.

 

Although, at first glance, marketing may seem like a simple matter, if you delve into the issue more, you may start to feel a little lost. Markethive will provide you with comprehensive marketing tools. It is a platform for entrepreneurs with many innovative features. You will find all the tools for your business under one roof and have the opportunity to contribute to the spirit of friendly cooperation.

"Marketing is a war of perceptions.“         Ivo  Toman

 

Sources:

https://www.marketingovenoviny.cz

https://foxentry.com

https://www.dusansoucek.cz

 

 

 

Tim Moseley

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Gold holds above a key support level in light of rising interest and yields

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Gold holds above a key support level in light of rising interest and yields

Gold continues to trade in an extremely narrow range as the precious yellow metal reacts to two opposing forces; rising interest rates and inflation. However, the recent price declines in gold have been shallow and short-lived at best. Most importantly, gold prices have held above a key support level which is Fibonacci based. The data set used for this Fibonacci retracement set contains a long period of data. It begins at $1678 which is the low created in August 2021, up to this year’s highest value of $2077. This data set covers a price range of approximately $400.

Chart number one is a daily chart of the continuous contract of gold futures. It currently is representing the most active August 2022 contract. After hitting this year’s high in March what followed was a deep correction moving gold from $2077 to $1785. Gold dropped a total of $292 or 15.12% in approximately 2 ½ months. This correction was directly attributable to market participants' focusing on dollar strength the result of rising interest rates and yields.

What followed after gold hit $1785 was an initial rally up to $1881 finding resistance at the 50-day moving average and then correcting to approximately $1807 before forming a base and regaining some value.

Chart number two is a daily candlestick chart of gold which has been enlarged to detail the most recent price activity. Today gold traded to a low of $1830.70 which is $0.10 above the 61.8% Fibonacci retracement. It is widely recognized amongst technical traders that a deep acceptable correction will typically go to the 61.8% Fibonacci retracement and begin to move higher reigniting the rally which occurred before the correction.

If gold can hold above the key support level of $1830 it will find minor resistance at the 200-day moving average which is currently fixed at $1843.20. Above the 200-day moving average, the next resistance level gold could encounter if it continues to rise from this price point is approximately $1860 which is the high achieved on both Thursday and Friday of last week. Major resistance is currently fixed at $1872.60 which is based upon the shortest term 50-day moving average.

If gold futures can hold $1830 it will either form a foundation at this price point and consolidate, or start a new rally from this base. With the next FOMC meeting scheduled for the end of July, market participants will prioritize their focus on inflation. If inflation continues to run hot, we can expect to see gold move to higher pricing. However, if inflationary pressures begin to abate, we could expect to see gold continues to be pressured resulting in lower prices. I believe that inflation will continue to run hot and continue to be not only persistent but elevated.

By Gary Wagner

Contributing to kitco.com

Time to buy Gold and Silver on the dips

 

 

Tim Moseley

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Choosing Your Immigrants

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Choosing Your Immigrants

by Jeff Thomas, editor, International Man Communique

 

Choosing Your Immigrant

 

In the 18th century, America was made up primarily of people who, of necessity, had had to work hard. Had they not taken full responsibility for their own welfare, there was no one else to do it for them and they would have starved. As this was the case, anyone who did arrive on American shores who were unwilling to work and wanted others to provide for him could expect to find no sympathy and might well starve.

In the 19th century, the former colonies had become the United States. Expansion was underway and the young people of the 18th century became the entrepreneurs of the 19th century. In order to continue to get the menial tasks accomplished, millions of immigrants were needed. Those who were welcomed were those who were prepared to start at the bottom, often live in poor conditions, receive no entitlements, and compete for even menial jobs. If they accepted these terms, they received the opportunity to immigrate and work.

Also, in the 19th century, the US expanded to the West coast, covered the nation with railroads, and created the industrial revolution – the greatest period of expansion in US history.

In the 20th century, income tax was implemented, the Federal Reserve took over the dollar and the "New Deal" Introduced the concept of entitlement. It was a mixed century of wealth generated by the industrial revolution, fighting against the new concept of entitlement.

In the 21st century, immigrants in large numbers were again encouraged to come in. However, unlike in the 19th century, they were not encouraged on the basis of starting at the bottom, often living in poor conditions, receiving no entitlements, and competing for even menial jobs.

Quite the contrary. They not only were guaranteed welfare, schooling, and housing, they would not be required to work at all and, if they committed crimes, they were likely to be released without prosecution. They, in fact, were afforded privileges above that of American citizens.

Today, American conservatives are stating that immigration must be curtailed, as immigrants are inherently usurious. Conversely, liberals are stating that America was built on immigration and the way forward is to open the doors to all who wish to enter.

Both these assumptions are incorrect

It’s the most effective means of replacing those at the lower positions, as the existing workers move into higher positions. This has been the tradition since the formulation of the US.

The debate should instead be over which people are chosen to immigrate.

In every country, in every era, there are always some people who understand work ethic and responsibility. They are the producers. There are also always some who have no desire to work or otherwise take responsibility for themselves. They are parasites.

In the 19th century, this simple principle was understood, and every single immigrant recognized that, if he wasn’t prepared to work and take responsibility for himself, he might well starve. That being the case, those who left their home countries to migrate to America were, of course, producers. (The parasites never even got on the boat.)

But in the 21st century, the US government supports the collectivist concept that potential immigrants must be offered more entitlements than they ever had at home, even to the point that they’ll have rights that Americans don’t have. Of course, the people who come will not be the producers. They will be the parasites.

So, let’s do a comparison:

Producers:

  • Prepared to start at the bottom
  • Prepared to work hard enough to better themselves
  • Prepared to take responsibility for their own well-being
  • Prepared to respect the laws of the host country
  • Prepared to have gratitude for the opportunity to better themselves

Parasites:

  • Reluctant to accept low-level jobs
  • Not prepared to work to better themselves
  • Expect others (the host government) to take responsibility for their well-being
  • Not prepared to respect the laws of the host country
  • Expect to never be satisfied, no matter what level of privilege they’re afforded

Once the above is put in perspective, the reader must then accept that his government is not only not doing what’s good for his country, he’s doing the exact opposite of what’s good for his country.

And, then, of course, he must ask, "Why?"

There are two possible answers. It may be that the political leaders of the US are quite delusional – to the point that, whilst they may be patriotic, they fail to understand the simple equation of worker mentality.

Or it may be that the political leaders thoroughly understand that the mass immigration of parasites is destructive for their country, but also realize that such immigration increases their power level.

In Europe, this question is more easily answered. The same trend is taking place there, and the people of literally every country in the EU are calling loudly to stop the mass wave of parasite immigration, yet the EU itself is stubbornly insisting that the immigration not only continue, but expand.

Brussels knows full well that, if enough parasites enter the system and eventually receive the right to vote, they will always vote in favor of a central government that provides them with entitlements. Once their numbers substantially exceed 50% of all voters, the collectivist oligarchy in Brussels will become autonomous. Elections will become meaningless and power will remain with the Brussels elite permanently.

In America, of course, the veil has not fallen away from the government’s objective, to the degree that it has in Europe. Roughly half of Americans see the government program of parasite immigration as a moral imperative.

And, of course, both the government and the media are doing all they can to enforce this propaganda. They present parasite immigration supporters as "good people" and objectors as "bad people."

History is rife with examples of populations that were hoodwinked into believing that they were "good people" because they supported an idiotic precept that was, in fact, only intended to increase their government’s power over the people.

In all cases, this has ended badly and there can be little doubt that, when this one hits the history books, it will also be looked back on as a grave error in judgment.

 

New Opportunities Are Emerging For Citizens of The World.

Freedom and democracy may appear to be struggling to stay alive in America, but there may be a knock-out punch ready to be released. The evolution of the blockchain-enabled metaverse is going to enable the 'Citizens of the World' to gain their own Freedom by democratizing power and creating a new world with new rules, new players, and new opportunities. For 99.99% of us, the metaverse will improve our real-world lives through the democratization of power and opportunity.

Along with the major long-term trend of society towards decentralization and smaller-scale organizations, there are new opportunities developing to help 'Preparers' in the cryptocurrency sector. Businesses are beginning to issue their own Crypto Coins that can be traded on Cryptocoin Exchanges.

Markethive.com for example will be releasing its HiveCoin (HIV) in the coming weeks. It has tremendous upside potential that is outlined in a Video by Founder Tom Prendergast, "Entrepreneur Advantage…".

Not only that, if you go to their website and register as a FREE Member, you will be given 500 HiveCoins for "FREE" along with access to several Earning Opportunities and online tools to increase your HiveCoin balance.

Be sure to check it out today – Markethive.com

Markethive

Tim Moseley

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Gold will shine bright as Bitcoin cryptocurrencies collapse

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Gold will shine bright as Bitcoin, cryptocurrencies collapse

The gold market is holding firm in relatively neutral territory, trading in a narrow range between $1,800 and $1,850 an ounce; however, some commodity analysts are optimistic that gold could see renewed investors' interest as sentiment in financial markets rapidly disintegrates.

 

Specifically, some analysts see gold finding new safe-haven demand as investors flee the cryptocurrency market.

In 2021, Bitcoin's rally to an all-time high of $65,000 an ounce took away some of gold's luster. Last year some analysts said that Bitcoin's rally reduced gold's market valuation by as much as $200. Many investors saw Bitcoin and other digital currencies as a better store of value than gold. However, sentiment is quickly shifting as Bitcoin dropped below $18,000 a token and Ethereum dropped below $900.

"I would argue this blow-up in cryptos reinforces the value of gold," said Kristina Hooper, Chief Investment Strategist at Invesco, in a recent interview with Kitco News, "There's really only one asset that historically has the qualities of being a hedge against inflation and geopolitical risk and it's not cryptos."

Many analysts have noted that cryptocurrencies have fallen in line with risk assets like equities as the Federal Reserve continues to aggressively tighten its monetary policy to slow the economy and cool down extraordinary inflation pressures.

Rising interest rates coupled with the plan to reduce its balance sheet have reduced the amount of liquidity in the marketplace impacting riskier assets. Bitcoin is down more than 70% from its 2021 all-time highs. Year-to-date, the digital currency is down more than 50%, even as prices bounce from Saturday's multi-year low.

But it's more than just bitcoin; few financial assets are doing well in the current environment. So far this year, the S&P 500 is in solid bear-market territory, down 23%. Even the traditional safe-haven U.S. bonds are down on the year. The yield on a 10-year note is trading well above 3% and are up more than 100% since January.

 

Gold hasn't lost its luster even as the Fed continues to raise rates – State Street's George Milling-Stanley

Robert Minter, Director of ETF Investment Strategy at abrdn, said that in the current environment, as interest rates and inflation rise, investors should look to have solid assets in their portfolios. While gold should always be part of a balanced portfolio, Minter said that he also likes base metals as they are even a better hedge against inflation.

 

"Bottom line is you want something real in your portfolio. You want something that if you drop it on your foot, it is going to hurt," he said.

George Milling-Stanley, Chief Gold Market Strategist at State Street Global Advisors, said that the selloff in Bitcoin proves it's just another risk asset.

 

"Gold is starting to look more and more, the last outlier. I expect gold to hold its value," he said. "There is a very good chance that as other assets fall, gold relative performance is going to look even better."

By Neils Christensen

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

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Michael Saylor Lists 10 Things For Bitcoin To Become A Stronger Asset

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Michael Saylor Lists 10 Things For Bitcoin To Become A Stronger Asset

by Shawn Amick 

ecosystem for entrepreneurs

 

In an interview with Bloomberg, Michael Saylor detailed 10 things that needs to happen over the next decade for bitcoin to become a stronger asset for institutions.

  • Michael Saylor recently appeared in an interview with Bloomberg to discuss bitcoin and regulation.
  • The CEO of MicroStrategy explained he believes bitcoin has 10 things it needs to become a stronger asset.
  • Saylor elaborated on his company’s bitcoin strategy and its 10-year horizon and plans to acquire more bitcoin.

Michael Saylor, CEO of the software analytics and pro-bitcoin company MicroStrategy, recently appeared in an interview with Bloomberg to discuss 10 steps he believes will make bitcoin a stronger asset.

“There’s about 10 things that have to happen over the next decade to make it [bitcoin] a better asset, and we kind of know what those 10 things are,” Saylor stated in the interview.

The first on the CEO’s list of issues to be addressed is the absence of a no wash-trading rule, allowing traders to harvest loss and gains in a way that cannot happen with traditional equities markets.

Then, Saylor mentioned the issues with the 520 unregistered and unregulated crypto exchanges offering 20x leverage, which often leads to unprotected investors taking massive losses.

Next, the 19,000 cryptocurrencies being cross-collateralized and associated with bitcoin currently hold bitcoin back by comparing it to badly managed, unregistered securities.

Moreover, the issue becomes worse as these securities are glorified by the next issue at hand, “wildcat banks,” which enable gammified practices offering unsustainable yield, such as was seen with the fall of the Terra ecosystem.

Not least of all, Saylor listed ignorance and fear of the asset class, as a lack of technical know-how still terrifies many, as does media coverage telling of the many supposed deaths of bitcoin.

However, the fear and uncertainty is not just for bitcoin as Saylor went on to explain that we currently do not have a real stablecoin, which he believes will be a major boon for the ecosystem once one is fully regulated and approved.

Then, the CEO closed his list noting the absence of a spot exchange-traded fund (ETF), which would allow institutions to interact with the asset of bitcoin without needing to touch it themselves.

Finally, the three remaining points that need to be improved on in the bitcoin ecosystem revolve around the lack of regulatory guidance and support institutions currently must overcome. These points include lack of insurance, as well as guidance in becoming involved with the space.

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Prior to revealing his list of improvements that will launch bitcoin into its next bull-cycle, Saylor spent much of the interview justifying the bitcoin strategy of MicroStrategy during this recent downturn.

“We did a lot of backtesting and I’ve gone back and looked at the numbers,” Saylor explained. “On August 10, 2020 when we announced our $250 million bitcoin buy, since then, bitcoin is up 72%.”

He went on to compare it to some traditional assets over the same time period including: the NASDAQ (-2%) , gold (-9%), S&P 500 (+9%), and single-family homes (+26%).

“The bottom line is that the bitcoin strategy is 10x better than any other alternative,” Saylor concluded. “So, no. I don’t regret it.” 

Tim Moseley

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ProShares To Release ETF That Allows Investors To Short Bitcoin

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ProShares To Release ETF That Allows Investors To Short Bitcoin

by Shawn Amick 

 

ProShares will release a new ETF allowing investors to short bitcoin during harsh market conditions enabling institutions to legally bet against the asset.

  • Proshares ETFs will release a new product which will allow investors to short bitcoin.
  • Proshares previously released the Proshares Bitcoin Strategy ETF that trades futures contracts as well.
  • Bitcoin reached its all time high days after its original ETF was released as this short ETF releases amid harsh market conditions.

Proshares, a provider of exchange-traded-funds (ETFs), is set to release the Short Bitcoin Strategy ETF (NYSE: BITI) on June 21, which will allow investors to bet against bitcoin through the use of futures contracts.

Investors choosing to purchase this ETF are seeking a return of -1x its underlying asset, in this bitcoin, within a single day. Should the investor choose to hold the ETF for longer than the target of one day, Proshares notes that due to rebalances and compounding returns, investors will likely experience a different result and direction.

On the other hand, Proshare’s previously launched an ETF for bitcoin, which provided access to futures contracts for the asset. On its first day of trading, the Proshares Bitcoin Strategy ETF (NYSE: BITO) traded over $1 billion of volume, marking the second-largest ETF release ever.

Shortly after the the release of Proshare’s original ETF, bitcoin surged to its all-time-high, close to $69,000. In comparison, Proshares has released this ETF allowing investors to short bitcoin as it endures a harsh market correction, which bottomed out around $17,800 and currently is fighting to hold $20,000.

Previously, the original ETF was launched to provide institutional and retail investors access to the asset without dealing with technical complications or legal hurdles. Similarly, the Proshares short ETF will provide institutions access to play towards negative sentiment without interfacing with those same hurdles in a compliant manner.

Thus far, regulatory conversations surrounding ETFs and bitcoin have been largely tumultuous. The Securities and Exchange Commission (SEC) has stalled approvals for spot-bitcoin ETFs, resulting in the deviation of some commissioners who say the agency has stalled too long.

In fact, Grayscale Bitcoin Trust – the largest bitcoin fund in the world – has recently hired a top legal mind to combat the SEC should the regulator continue to deny the company’s application to convert to a spot-ETF. 

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Tim Moseley

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Crypto weekend meltdown: Bitcoin price touches 17k Ethereum below 900 as renewed selloff sends prices spiraling

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Crypto weekend meltdown: Bitcoin price touches $17k, Ethereum below $900 as renewed selloff sends prices spiraling

The crypto space faced another sharp selloff during the weekend as Bitcoin plunged below $18,000 and Ethereum dropped below $900.

The overall crypto market cap plummeted to $847 billion, down nearly 10% on the day. Bitcoin touched $17,677, the lowest level since November 2020, and Ethereum fell to a low of $893, the level last seen in January 2021.

"Bitcoin appears to be hanging on for dear life as cryptocurrencies remain in meltdown mode. The worst week since the early days of the COVID pandemic has widespread crashes across Bitcoin, Ethereum and Dogecoin," said OANDA senior market analyst Edward Moya.

At the time of writing, Bitcoin was at $18,633, down 74% from its November all-time high of $69,000, and Ethereum was at $948, down 81% from its November all-time high of $4,878. 

The initial trigger behind the massive crypto drop in June was the macro environment. First, a surprising hot inflation number from May caught markets off guard, followed by a 75-basis-point hike from the Federal Reserve on Wednesday – the biggest rate increase since 1994.

The dramatic shakeout in crypto also garnered steam following contagion risks from within the crypto community itself after a lending company Celsius said it was halting all transactions on its platform. To learn more about that, click here.

After failing to hold several key support levels, analysts now watch a price area below the $14,000 mark.

"Bitcoin is sharply lower today after having accelerated to the downside following the breakdown from its consolidation phase. It is currently down about 14%, bringing its month-to-date loss to about 44%," said Fairlead Strategies founder and managing partner Katie Stockton. "The breakdown is unconfirmed (it has not spent enough time below to make it decisive), but it shows the risk inherent to risk assets right now. If we see consecutive weekly closes below $18.3K, risk would increase to next support below $13.9K."

Stockton added: "We do not recommend counter-trend positions, however, noting momentum is strongly negative."

 

During the first two weeks of June, investors have continued to position themselves defensively, and crypto's upside potential remains limited until stagflation fears subside, said Bank of America's global crypto and digital asset strategist Alkesh Shah.

"Although painful, removing the sector's froth is likely healthy as investors shift focus to projects with clear road maps to cash flow and profitability vs. purely revenue growth. The digital asset ecosystem is an emerging high-growth speculative asset class with tokens that are exposed to similar risks as tech stocks. The upside is likely capped until risks associated with rising rates, inflation, and recession are fully discounted," Shah said.

By Anna Golubova

For Kitco News

Tim Moseley

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The Father’s Day Gift Guide For Bitcoiners

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The Father’s Day Gift Guide For Bitcoiners

by Mickey Koss 

ecosystem for entrepreneurs

 

Dad’s don’t necessarily need special or fancy gifts, but Bitcoiners want to make sure our dads have the Bitcoin tools and gadgets they need.

Aside from relaxing on the couch with a cold beer, surrounded by family, dads don’t really need much. We already have our families. I say this as a father of three, with my wife of eight years recently giving birth to our third child.

If you think about it, most things will end up in the trash eventually. I like to refer to many of the toys we get our kids as presents as “future trash.” It’s an unfortunate by-product of the fiat society we live in. What’s a surefire way to keep earnings growing year over year? By making products that don’t last.

I’m not saying that this is even intentional; it’s just the current state of things. Cut costs at all cost. After years of iteration in this system, we’ve fundamentally changed from a production to a consumption society where products simply don’t last.

So instead of spending $100 or so on a thoughtful gift that is inevitably bound for the trash, why not think on a longer time frame? A low time preference gift, if you will. Go ahead and have the kids draw some pictures and paint some rocks, things I proudly display in my office, and save a few bucks for something that will last for a while.

Below are some Bitcoin-related gifts for different types of dads.

For The Low Time Preference Or Bitcoin-Curious Dad

The first thought that came to mind was basically just buying some bitcoin. A rough 33-times multiplier would take bitcoin to a million bucks, meaning a $100 bitcoin buy would become about $3,300. Assuming we’ve avoided a hyperinflationary catastrophe, that’s probably still a pretty solid vacation for you and the family.

Better yet, why not start an automatic bitcoin purchase with a solid bitcoin company like Swan or River. As little as $25 a week or month will do wonders for your purchasing power over time. As Michael Saylor likes to say, get yourself a slice of that prime digital real estate when it’s still affordable for normal people. At 21 million bitcoin to go around, there’s not even enough for all the millionaires in the world to own a whole coin. Start stacking for your favorite dad today.

If your dad hasn’t actually interacted with bitcoin yet, I would recommend a small gift of bitcoin from the local Bitcoin ATM. In order to claim the bitcoin gift, he’ll be forced to set up a wallet and potentially complete a transaction to cash out, letting him see how the network actually runs.

Even if your dad ends up selling, he’ll get some familiarity with the network, have experience with a wallet, and have to create an account at an exchange like River that he can go back to when he realizes that he made a terrible mistake.

But for the dad who wants to treasure his new gift of bitcoin, I recommend starting with a wallet. For wallets, I really enjoy BlueWallet. You can even help him set up a multisig solution using only a combination of cell phones.

I also recently encountered a cool idea to help the less technically inclined to save in bitcoin and manage their private keys. The idea came from one of my Bitcoin buddies, who published an article about gifting his parents bitcoin using a Ballet physical wallet. The basic idea being the bitcoin wallet existing as a single solution physical card. This method requires a relatively high degree of trust in the manufacturer, so I wouldn’t necessarily recommend storing your life savings with it, but it could serve as a nice way to get someone into Bitcoin.

ecosystem for entrepreneurs

For The Sovereign Individual Dad

If your dad is already a Bitcoiner, it might help to get them a hardware wallet and some key backup hardware to help secure their sovereign stack. Even if they already have one, there are always new developments in technology leading to greater usability and security. The Coldcard is a classic choice with tons of functionality. Coinkite actually just came out with an updated version, the Mk4, which can give your favorite dad a chance to experiment with different security protocols to throw off would-be attackers.

Conveniently, Coldcard is one of the hardware devices which is supported by managed multisig providers like Casa and Unchained Capital. Security doesn’t have to be intimidating anymore. Unchained will even help your dad set up a self-directed IRA to convert his retirement account into unconfiscatable, tax-advantaged capital to help him in his transition to a better tomorrow. Unchained also supports bitcoin-collateralized lending so he doesn’t even have to sell!

Both institutions also support more user-friendly devices like Trezor and Ledger. I personally like the ease of QR-enabled devices like the Passport and Keystone Pro. Don’t let dad forget to back up his private keys in steel. I prefer Black Seed Ink. Just make sure he remembers where he accidentally loses them on the next boating excursion.

Another cool idea would be to get your dad his own Bitcoin full node to verify his own transactions and enforce the blockchain rules. There are out of the box solutions like The Sovereign Machine, nodl and the Ronin Dojo. They all have their own benefits and trade-offs, but luckily Bitcoin Magazine has already published a ton of research, so I don’t have to spell it out here. Just know there are also many DIY solutions that cost a lot less.

For The Bitcoin-Skeptical Dad

Socks. They don’t deserve bitcoin.

Just kidding.

If dad is on the more intellectual side, I would recommend a well thought-out and beautifully written book like “Bitcoin Is Venice.” It’s a pretty dense read but incredibly thought-provoking and logical. If he’s on the fence, this may help your dad hop onto the lifeboat.

If dad is the financial type, I could recommend some of my personal favorites: “Layered Money,” “The Bitcoin Standard” and “The Bullish Case For Bitcoin.” Legend has it that “The Bullish Case For Bitcoin” was the piece that orange-pilled the legendary chad himself: Michael Saylor.

Another route would be a subscription to the Bitcoin Magazine print edition. Surprisingly, financially literate people largely view bitcoin as a scam or pyramid scheme. The stories in the magazine can help your dad view bitcoin as a fundamentally world-changing technological development. It’s so much more than “price go up” technology. It is fundamental to the preservation of your freedom.

Bitcoin Is The Gift That Keeps On Giving

Bitcoin is a hedge against inflation; it’s a hedge against tyranny. It’s an open and permissionless monetary network, all wrapped into one. As gas and food prices continue to hit all-time highs, it might just be the best time ever to try and get your dad to jump onto the life raft.

Tim Moseley

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The Revolutionization of the Supply Chain Management by Vechain

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The Revolutionization of the Supply Chain Management by Vechain

VeChain (VET) is a project that aims to transform the way consumers and producers do business by making traceability of products, services, and transactions easy, efficient, transparent, and secure, all powered through blockchain technology using smart contracts and digital identity. In addition to its primary objective, VeChain has also been trying to create a more decentralized economy with its DaaS (Decentralized Application Service) platform and other solutions such as its enterprise-oriented IoT products.

The Vechain network was launched in 2015 as a private consortium chain. Afterward, it transited to a public blockchain in 2017, launching its main net in 2018. One of the substantial benefits brought by VeChain is its toolchain.

Image courtesy of moralis

What is toolchain technology, and why did Vechain implement it?

Vechain's founder Sunny Lu, has been working on developing Vechain-PoA and its related technologies for quite a while. The technology was not very popular in the crypto industry due to its complicated implementation process and high cost of development in the traditional industry compared with other solutions based on blockchain technology such as Ethereum. However, the Vechain team has recently started implementing new technologies such as the VeChainThor and VeChainGO.

Toolchains are an essential part of any blockchain project to build, develop, test, debug, and deploy smart contracts safely, ensuring the validity of each transaction made on its network. Without the need for third-party validation or audits to ensure correctness in transactions and blockchains, making them more transparent and auditable and improving efficiency and security. So you can be sure that this is where VeChain comes into play as the best blockchain technology provider of all time with its unique features in supply chain management, which include:

Security

As they use the latest version of Hyperledger Fabric, this offers an immutable ledger that is distributed to every participant, which means that it is safe from hacking, attacks, and fraudulent activities.

It is based on a tamper-proof public ledger and records each transaction through cryptographic hash values (a chain of blocks). So you can ensure that your data will not get lost if someone tries to hack or manipulate the network. 

Tracking

It allows tracking of products from origin to end-user without any intermediary services Smart Contracts. The code on top of the VET blockchain can automatically execute smart contracts, allowing you to set up agreements between parties.

Scalability

This feature can be used to store a large amount of data and process it in real-time for a faster transaction rate with smart contracts.

Reliability

IBM has tested them to ensure that everything works perfectly without any glitches or errors that may occur.

The Vechain technology is transparent and offers a traceable supply chain management system that allows every single detail of a product's movement to be tracked, recorded, and verified in real-time on a distributed ledger. It allows users to scan QR codes attached to products or use NFC (Near Field Communication) enabled devices to get instant access to product details, ingredients, expiry dates, certifications, and other data about the item. Enabling manufacturers to track their products from the production stage to retail allows consumers to see exactly where the product they bought came from and what it was made of.

Accessible Supply Chain Management Solutions

The VeChain toolchain is a network that allows the blockchain to get information from IoT devices. It delivers an expansive network with no code or low code blockchain solutions meeting the most demanding industry requirements.

The supply chain management process occasionally requires tools that are frequently assembled and complicated to use. The toolchain brings clarity, comfort, and affordability.

Essentially, the toolchain introduces a pay-as-you-earn pricing model that is quite affordable. The toolchain provides a complete set consisting of;

  • IoT chip and equipment
  • A management platform
  • A mobile app
  • H5 technology

Image Courtesy of moralis

Fight Against Counterfeiting Products

Vechain has become a significant player in anti-counterfeiting products by combining an innovative blockchain with modern technology to protect intellectual property rights and offer secure identification solutions to consumers worldwide for consumer goods, healthcare, financial services, Etc.

Today's counterfeits are getting increasingly sophisticated, making it harder and harder for brand owners to trace their origins back to the original manufacturer and source of their product. As a result, brand owners have been forced to take more drastic steps to combat this problem.

In 2017 alone, brand owners saw sales decline by $25 billion due to counterfeit goods being sold on websites such as Amazon and eBay, while others claim that there has been a "$200 billion a year loss of revenue to illegal manufacturers around the world" (Wakefield & Lacy, 2015). According to the World Intellectual Property Organization (WIPO), counterfeit products account for an estimated $1 trillion per year worldwide (WIPO, 2019) – which is not only bad news for businesses but also has a direct impact on consumers.

VeChain delivers a fence against the risk of counterfeiting. Because of the linking with IoT devices allows both parties to a trade, i.e., supplier and buyer, to recognize the products and location in real-time. If the delivery vehicles stop, the IoT devices will transmit the information through the toolchain to the DLT. 

The constant tracking of products' data in the supply process guarantees that the persons delivering the products cannot provide counterfeited products.

Highly Convenient

The problem of supply chain management begins from the roots, which happens to be software support. Vechain toolchain makes it very easy for any project, individual, or company to create a blockchain with little to zero coding knowledge. Therefore, businesses can create apps that use the toolchain to offer their supply chain solutions. 

Final Word

This article has explored how the Vechain toolchains revolutionize supply chain management, offering privileges to participants. As mentioned, the toolchain touches on different aspects of the supply chain, including security, tracking, and reliability, all while offering convenience.

By touching on various aspects of the supply chain, the toolchain guarantees that the quality and health of products in supply are protected at high standards. Top networks have already been linking with the toolchain to enjoy its benefits. They include DNV, BitOcean, National Research Consulting Center, and Groupe Renault.

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Tim Moseley

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Gold is doing ‘spectacular job’ but price drop to 1800 not ruled out here’s why

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Gold is doing 'spectacular job' but price drop to $1,800 not ruled out, here's why

Gold surprised this week with its resilience and steadiness after an oversized 75-basis-point hike from the Federal Reserve and massive volatility across many markets. But analysts don't see a major rally developing in gold in the short-term, and they are not even ruling out a move back to $1,800.

The precious metal's reaction to the Fed's decision to raise rates by 75 basis points — the biggest increase since 1994 — has been very encouraging. Fed Chair Jerome Powell also signaled that another 75bps is possible in July, adding that the so-called 'softish landing' will now depend more o external factors like commodity prices.

After digesting the information, the stock market saw a sharp drop, while gold rallied around $40 on Thursday. However, the rally was short-lived as August Comex gold futures retreated to 1,841.70 an ounce Friday, down 0.44% on the day.

"Gold's current relative stellar performance is surprising, as it usually tracks the Fed's policy rates and real interest rates intently," TD Securities global head of commodity strategy Bart Melek. "And, the market hiked its year-end Fed Funds expectation from 2.7% in mid-May to 3.6% now. At the same time, the 10-year real rate, which is the usual driver, jumped well over 50bps from a month earlier to 0.69% and some 180 bps higher from the start of the year."

The performance of gold versus that of other markets stands out, said Gainesville Coins precious metals expert Everett Millman. "Other markets you look at, even some safe havens like the U.S. dollar, have been remarkably volatile. Gold has had relatively low volatility. It is a sign of strength and gold doing its job — holding steady even amid turmoil across other assets," Millman told Kitco News.

Year-to-date, gold is largely flat, up 0.5%. Yet, Millman pointed out that this resilience does not mean a rally is just around the corner.

"We've seen gold rally nice and then pull back. I expect that to continue up until the next Fed meeting in July. Gold will be range-bound and stuck trading sideways until we find out whether the Fed will go through with another large rate hike," Millman said. "Rate hikes are supposed to be bad for gold. But when inflation is this high, it will take many rate hikes for the Fed to get to where the real rate of interest rate is neutral. And that is what gold cares about. Maybe next year, they will get there."

What's next for crypto after 'perfect storm' crashes prices? Ethereum's market cap is 'orders of magnitude higher' than Bitcoin — Messari

Throughout the summer, Millman sees gold between $1,800 and $1,900, with $1,840 flipping from support to resistance and vice versa.

He added that even though inflation remains one of the primary drivers for gold, growing recession risk could encourage some additional gold-buying if investors continue to fear losses in other assets.

Gold has been doing "a spectacular job," described Melek. But that doesn't mean the precious metal doesn't correct here and returns back towards $1,800. "It won't be a rout but a modest correction," he said.

The thinking behind Melek's projection is a persistent Fed, which won't give up aggressive rate hikes at the first sign of economic trouble. "My suspicion is that the Fed won't change its mind any time soon," he said. "It is very likely there will be many more aggressive hikes in the face of strong inflationary forces, which will likely send gold back to the May lows."

And that means a return to the $1,824-$1,808 range in the near term. "Still think we can go below $1,800 by the end of the year. It is too early to say that the Fed will flake at the first sign of trouble. Could be in a situation where growth starts to slow, but we won't see a significant move in inflation until September or October."

Data to watch next week

Out of all the macro data on the docket for next week, housing will be a vital element to keep a close eye on. The key thing to watch is the impact of the Fed's higher rates on the economy, including the housing market, said ING chief international economist James Knightley.

"With the Federal Reserve signaling it has a strong stomach for the fight against inflation, we have to expect further significant interest rate hikes in coming months. But by going harder and faster into restrictive territory, there is a greater risk of a hard landing and a potential recession," Knightley said in a note Friday. "The housing market is particularly vulnerable given prices are up nearly 40% nationally since the start of the pandemic due to stimulus-fuelled demand vastly outstripping the limited supply of properties for sale."

Another event to monitor will be Powell's testimony before the Senate Banking, Housing, and Urban Affairs Committee on Wednesday and the House Financial Services Committee on Thursday.

Tuesday: U.S. existing home sales (May)

Wednesday: Fed Chair Powell testifies

Thursday: Fed Chair Powell testifies, U.S. jobless claims, U.S. manufacturing PMI

Friday: U.S. new home sales
 

By Anna Golubova

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

The Artist that came out of the Winter