Is it real or Memorex?

.
DOUG  By Guest Blogger Doug Rowat
.

The poor Winklevoss twins.

First, it was the maneuvering of Facebook’s Mark Zuckerberg, which denied them limitless wealth and left them ostracized from Silicon Valley. If that wasn’t bad enough, then there was the indignity of being portrayed by Armie Hammer in The Social Network. They’ve certainly suffered.

However, sympathize with the twins no more. They just made the cover of Forbes as newly minted billionaires.

The main driver of their soaring wealth is, of course, their early investment in bitcoin and other cryptocurrencies. But a lesser-known driver is their business interests in non-fungible tokens or NFTs. And, give them credit, they got in on the ground floor of this rapidly expanding new digital medium as well.

So what are NFTs?

NFTs are one-of-a-kind digital assets that are stored and managed on the blockchain. An NFT can be a video game asset, piece of music, work of art, written text, collectible video or image, or any variety of other unique digital items. Basically, it’s a way to own an original digital asset much like owning an original painting. And even though paintings can be copied, there’s still only one original, and it’s this unique digital provenance that provides NFTs with their potential value.

NFTs are, like any other asset, traded on secondary marketplaces, such as OpenSea, Rarible or Binance. Thanks to blockchain, all transactions are permanent and transparent. Currently, artist Beeple’s digital collage “5000 Days” is the world’s most valuable NFT selling earlier this year at auction for a whopping US$69 million:

“5000 Days”: Beeple’s US$69 million NFT

Source: Google Images

While NFTs have garnered plenty of jubilant media attention this year, they also have their critics. In no particular order, here are some of the main arguments for and against NFTs:

  • For: By utilizing the blockchain, NFTs provide irrefutable proof of ownership. Against: Copyright laws could potentially disrupt ownership claims.
  • For: NFTs are environmentally responsible because a digital item need never be packaged or transported. Against: NFTs are environmentally irresponsible because they have massive power-grid requirements similar to the cryptocurrency market, which is already widely criticized for its negative environmental impact.
  • For: NFTs place more control in the hands of artists and ‘content’ producers. An NFT exchange, for example, charges only a fraction of what an art gallery does and, unlike physical artwork, which offers a monetization opportunity only on the initial sale, NFTs allow for royalties on all future transactions. Against: The blockchain has limited ability to house the actual digital images or videos themselves and this content is often placed on separate websites—at a cost and with less security. Policing NFTs is also nearly impossible. Scammers frequently produce NFTs of an artist’s work without permission and thus siphon their revenue.
  • For: NFTs are becoming more and more legitimized as venerable auction houses, such as Sotheby’s, which has been in operation for 277 years, now regularly auction NFT artwork. Against: NFTs of dubious value are being minted at a breathtaking pace. For example, a New York City man recently sold an NFT of his own flatulence for US$85.
  • For: NBA’s Top Shot is a shining NFT success story as it has already gained more than 800,000 registered users in less than two years. These users trade regularly at modest dollar values creating a healthy and sustainable marketplace. Top Shot’s stability speaks to the long-term potential of the NFT market. Against: NFT values are only being propped up by massive media attention driven by spectacular one-off sales such as Beeple’s “5000 Days” mentioned above. Once the media attention dies down, so too will the NFT market.

My thoughts?

NFTs are likely here to stay. And who am I to say what has aesthetic value for consumers. I also can’t remember the last time someone actually handed me a physical photograph to look at. It’s a digital world now. And when the hype subsides, as it surely will, there still remains a quite practical application of the blockchain—one that provides pricing transparency, public visibility and authenticity for an entire asset class, albeit a niche one.

However, the difficulty with the investment opportunity for NFTs is no different than it is with fine-art selection or stock picking (which I talked about in my last post): how do you consistently separate the winners from the losers? Assessing an asset’s future value is exceptionally difficult under normal circumstances. But NFT investors are attempting to do this with a nascent and rapidly evolving technology, which has resulted in—predictably—extreme volatility. See, for instance, the fluctuations in the blockchain sales for the gaming and crypto-collectible markets in just the past few months:

Completed NFT sales (US$)

Source: Nonfungible.com

As with Internet stocks of the late 90s, it’s probably best to wait for more dust to settle. I could, of course, be wrong. And who knows? There may be a different movie made about the Winklevosses in the very near future this time detailing their successes.

But here’s my one certain prediction: Armie Hammer won’t be playing them in the sequel.

Doug Rowat, FCSI® is Portfolio Manager with Turner Investments and Senior Vice President, Private Client Group, Raymond James Ltd.

 

103 comments ↓

#1 RowatNation aka Prince Polo on 07.10.21 at 11:08 am

NFT = Naturally, Freakin’ Tirr’ble.

#2 Phylis on 07.10.21 at 11:17 am

And succession planning works how?

#3 Steerage Art on 07.10.21 at 11:22 am

Nothing compares to a fine price of whale art… priceless.

#4 crowdedelevatorfartz on 07.10.21 at 11:26 am

I can get US$85 for my flatulence?

#5 Linda on 07.10.21 at 11:28 am

While I am at best a fringe user, the digital world is the new reality for many or most of the younger generations. I can see the attraction. When ‘real’ life is too difficult, the digital world can be whatever your imagination wants it to be. Second Life, anyone? The bottom line is that enough people have agreed that NFT’s, crypto-currency etc. have a value & the marketplace of those like minded souls is determining what the value is on any given day. Call it the digital version of sea shells, tulips, rocks or whatever other ‘currency’ has become the generally accepted medium of exchange. The physical version of currency whether bills or coins has very little actual intrinsic value. It is the representation of what that instrument says its worth that allows society to exchange it for the goods or services that they desire.

#6 The other Doug in London on 07.10.21 at 11:36 am

I don’t get it with paying money for some NFT anyone can see or copy. I can get all the pictures I want from Google Images, and all the videos and music I want from YouTube. As for Armie Hammer, isn’t that a brand of baking soda?

#7 Sail Away on 07.10.21 at 11:39 am

Thanks Doug, good article.

Luckily for your readers, I myself am a bit of an expert on fine art so will stand by to weigh in where needed.

#8 crowdedelevatorfartz on 07.10.21 at 11:52 am

A series of photos of Lytton taken yesterday ( linked to the article) by the media as residents were taken for a tour of what’s left of the village.

One of the very few buildings to survive….?

The wooden church.

https://www.citynews1130.com/2021/07/09/lytton-bc-wildfire-evacuees-tour/

#9 My Body My Choice on 07.10.21 at 11:53 am

NFTs and Cryptocurrencies are further proof that we live in an upside down clown world.

1. No one knows for sure who created Bitcoin and who owns a large portion of the original “coins”. The CCP? The CIA? The NSA? North Korea? Iran? Elon Musk? George Soros?
2. Cryptos are not actual currencies because you can’t actually buy or sell most products or services with cryptos.
3. Cryptos are not a store of wealth, they don’t represent anything, there is no product, there are no hard assets, just POOF! one day someone wrote a set of computer programs and instantly created billions of cryptos worth trillions!
4. Cryptos are not officially/publically backed/supported by any government and you cannot resort to any government body (court, police, justice system) to remedy any problems.
5. Cryptos are not secure – any crypto buyer/seller must go through a crypto exchange which can and have been hacked and outright stolen from you with no recourse. People have forgotten/lost their passwords and poof! lost everything!
6. Cryptos are a classic ponzi scheme/fraud that only rise in “value” because of speculation and criminals, tax-dodgers using it to launder or extort. Also used by cyber-criminals to anonymously extort their victims.
7. Sure, “fiat” currencies (national currencies) are used and manipulated by the governments that create them, but cryptos have all the exact same problems times 10.
8. Anyone can create a new crypto. Here, I create a bunch of cryptos right now:
Byte-coin, Digi-coin, My-coin, Your-coin, We-coin, Star-coin, Sun-coin, Electro-coin ….
All I have to do now is download the crypto software, change a bunch of names in the code, startup an exchange server and then promote my new crypto coin on the Internet.
9. Cryptos are nothing more than brand names with the software code to back them up.
10. Yes, some people have gotten fabulously wealthy by “investing” in bitcoin, but every real dollar acquired in a bitcoin transaction is lost by another person. It is a zero-sum gain since there is no actual value created.
11. All cryptos use massive amounts of electric power. During the last 25 years we’ve all been running around our houses and offices replacing incandescent bulbs with low wattage CFL, replacing baseboard heat with heat pumps, turning down our thermostats – why? To save the planet. But wait, all that power saved is being used by the crypto miners to “earn” money? Does anything realize how monumentally stupid this is?
12. And the media promotes crypto and the blockchain as some magical new wonderful technology that will transform the world into a better place! 99% percent of media and financial guys have no clue what crypto really is – their eyes glaze over at any in-depth discussion of the blockchain and their minds shut off. Blockchain is just a set of friggin network protocols, and cryptos are just brand names!

And don’t get me started on NFTs.

#10 Sail Away on 07.10.21 at 11:56 am

Well, I am waiting for newly-minted artist Hunter Biden’s first art sale. Some fantastic pieces well worth the $500k sticker.

High prices, but hey, some people just have that je ne sais quoi.

#11 LuckyGuess on 07.10.21 at 12:02 pm

NFT = “Stay away from gambling when you have no edge.” Your right, the letters don’t match up, so don’t over think it.

#12 Doug Rowat on 07.10.21 at 12:08 pm

#4 crowdedelevatorfartz on 07.10.21 at 11:26 am

I can get US$85 for my flatulence?

—-

It was a year’s worth, if I remember correctly, so he put some effort into it.

—Doug

#13 Tim H on 07.10.21 at 12:09 pm

Doug, you should probably refrain from talking about nfts since you clearly don’t understand them well.

1) NFTs are not the asset. They’re not the photo, the text, or whatever. They are a little boring JSON blob with a url in it. Literally a hyperlink, but not on a webpage that everyone can view and follow, but in a 200GB blockchain file. What happens if the url I point it to loses its hosting I wonder?

2) Additionally, they have no rights connected with the asset. All they are again is a little paragraph of text associated with a particular account number on a blockchain. There might only be one copy of that text on *that* blockchain, but that really doesn’t mean anything with the proliferation of chains. Hell I could make up my own chain and it would have just as much legitimacy as whatever beeple’s is on.

So, they’re not unique (just per chain), they’re not the asset, they confer no copyright nor ownership whatsoever, and you sir are pretty full of shit for saying so.

#14 Yukon Elvis on 07.10.21 at 12:10 pm

Don’t forget about the Hunter Biden art. Gonna be worth a fortune soon. Measly half mil to get in, be a billionaire in no time at all.

#15 Sail Away on 07.10.21 at 12:15 pm

Hey, Warren’s in…

https://youtu.be/hG0mscKKD7M

#16 Ponzius Pilatus on 07.10.21 at 12:16 pm

#8 crowdedelevatorfartz on 07.10.21 at 11:52 am
A series of photos of Lytton taken yesterday ( linked to the article) by the media as residents were taken for a tour of what’s left of the village.

One of the very few buildings to survive….?

The wooden church.

https://www.citynews1130.com/2021/07/09/lytton-bc-wildfire-evacuees-tour/
———————-
The great earth quake of Lisbon in 1775, killed over 60,000 people and destroyed all churches.
But left the brothel untouched.

#17 TurnerNation on 07.10.21 at 12:25 pm

This weblog was saying/hoping things go ‘back to normal’. Let’s test this theory – using only Mainstream Media links (ugh I know but it’ll all we got unless you are willing to hunt for the truth).

I always opined that Children are the focus of this New System, that they must never know normalcy.

.California to require masks at schools even though CDC says they are not needed if vaccinated (latimes.com)

– Italy entrenched. Keeping in them in fear of each other. Submitting to never-ending rules. Sounds like prison no?

https://www.thelocal.it/20210705/covid-19-italian-schools-set-to-keep-using-masks-and-distancing-from-september/
This would mean masks for everyone aged over six, single desks and distanced seating, staggered entrance and exit times, and quarantine rules for classes with positive cases, as well as the possibility of some classes still being taught online, depending on the health situation in each local area and the rules provided under Italy’s tiered system of restrictions.


– What is an infection meaning? People coughing, sneezing? Or only a 30-40 cycle PCR test reading?

https://www.reuters.com/article/us-health-coronavirus-netherlands-idUSKCN2EF10K
“AMSTERDAM (Reuters) -The Dutch government reimposed COVID-19 curbs on nightclubs, music festivals and restaurants on Friday in an effort to halt a surge in COVID-19 infections among young adults.”

—–
—–
What’s the one thing UK is known for. Pubs. All the old culture must be torn down Comrades. At some point wouldn’t it make sense to consolidate a patchwork of vax/movement control systems into one Global system based in the Blockchain? Small steps in the Globalist’s Long Game.
2 weeks to flatten the curve guys!

.UK pubs, bars and nightclubs to require Covid Passports from autumn (reuters.com)

.South Korea raises Covid restrictions to highest level in Seoul (theguardian.com)

— Germany is under permanent state of lockdown lite, medical martial law whereby your rightts depend upon some random numbers on the telescreens

You guessed it. Mandatary masks for children in school

https://www.land.nrw/de/pressemitteilung/nordrhein-westfalen-passt-coronaschutzverordnung-regionen-mit-inzidenzen-von-10

The state government is adapting the Corona Protection Ordinance with effect from Friday, 9 July 2021. A new “incidence level 0” will be introduced in view of the continuing low incidence figures throughout the country and the also significant decrease in the number of severe disease courses, required hospital admissions and intensive care treatment. This level applies in counties and county-level cities that have had a 7-day incidence of 10 or less for at least five days, and involves the repeal of much of the existing rules and measures to contain the coronavirus pandemic. It thus enables a far-reaching normalization of many areas of life. For example, in the regions of incidence level 0, contact restrictions are eliminated. Also, the observance of the minimum distance to other people is largely only recommended. If – as is currently the case – the incidence level 0 also applies to the country, the mask requirement only applies in public transport and in the trade and is otherwise only recommended indoors. The regulation on compulsory masks in schools remains unaffected by the changes

#18 IHCTD9 on 07.10.21 at 12:43 pm

#153 Sail Away on 07.10.21 at 10:14 am

I’m a bit more optimistic this morning. Maybe that’s because the parachute is ready to go and we have good tax-free Roth IRAs in the US. Looking forward to resuming long vacations in other countries. Our daughter is now in Australia and we’re really hoping to get there this winter/their summer.
——-

For me it all hinges on criminal acts aligned with the social consensus, or party in power going unpunished. If that’s where we’re going, then I’ll be going too. I’ll give it till 2030 to hang my hat.

I don’t like what Trudeau has done to Canada, but the reality is by the time the chickens come home to roost, it’ll be too late to collect from me. All the while Liberal policies have only been adding to my net worth. The new SJW violence that is tolerated in Canada is another story though. I’ll leave before I find myself policing my speech and actions to align with those of the mob.

If things don’t get straightened out socially, and a sleepy town like Lunnenburg isn’t even safe from this garbage, there’s not much that I can do other than find a place to live where the rule of law still matters.

#19 tbone on 07.10.21 at 12:45 pm

I dont buy what i dont understand. Ill stick with bank stocks and collect the dividend .

#20 crowdedelevatorfartz on 07.10.21 at 12:51 pm

@#158 Sara
“Well, at least something “still stands”.”

+++

:)

#21 SOMETHINGS UP!! on 07.10.21 at 12:58 pm

Dust off your Space Suit!!!

Bitcoin, Cryptocurrencies, and NFTs…..

GOING TO THE MOON!!

#22 Doug Rowat on 07.10.21 at 1:25 pm

#13 Tim H on 07.10.21 at 12:09 pm

…Hell I could make up my own chain and it would have just as much legitimacy as whatever beeple’s is on.

—-

Hurry, US$69 million awaits you.

—Doug

#23 Grunt on 07.10.21 at 1:33 pm

More food for rsnsomware attack.

#24 Balmuto on 07.10.21 at 1:34 pm

I’m a big believer in crypto but I’m not really sold on NFTs. I get the analogy to an original piece of fine art which can also be copied. But the ease with which digital art can be reproduced and distributed, with no loss of quality, makes that comparison tenuous.

Nonetheless there’s a market for these things and the market is largely on the Ethereum network, priced in Ether. Along with all the decentralized finance stuff that’s also happening in the Ethereum network, it shows how Ethereum has really advanced the potential of its blockchain whereas Bitcoin is resting on its laurels.

For this reason I think Ether is the best crypto coin to be invested in long term and it will eventually surpass Bitcoin as the largest crypto by market cap.

#25 G on 07.10.21 at 2:04 pm

NFT, sounds like Not For Thee.

I smell another money laundering angle for the few???
Hunter art work (#14) at least you got a paper with something on it for a lot. maybe more? LOL.

Some times it’s not what you know but who you know I guess, unfortunately. Where’s that NSA data collection when it’s needed to be looked at closely?

What can you do when one day the data file just vanishes, like saved Google Earth MyPlaces marks. You’ll be out of luck I guess.

I’m with #19, I don’t buy what I don’t understand…
Thankfully there are still investment advisers that you can trust also.

#26 CanadianOne on 07.10.21 at 2:14 pm

To,

#9 My Body My Choice on 07.10.21 at 11:53 am

NFTs and Cryptocurrencies are further proof that we live in an upside down clown world….. (cont`d.)
__________________________________________________________

You must be stuck on one kind of crypto and monoculture thought process.

Sure they are all just network protocols… but do you know the one and only major protocol in use today that was derived like decades ago and the internet still stands on it? Any guesses? TCP.

Safe to say it’s past time we upgraded to a far superior method of operating as humans. Centralized guarantees are not for the masses. They merely re-inforce status quo. Decentralized trustlessly implemented blockchains with on-chain governance models are happening right now. THAT is what these mere protocols are aiming to do. GET RID OF THE MIDDLEMEN.

There are infact scientifically developed blockchains out there if you are interested….

Good luck searching. Hope you realise that your understanding of the crypto needs a bit of an update pal. Cheers.

#27 CanadianOne on 07.10.21 at 2:25 pm

To all here on this dog forsaken blog,

A recently published interview of one of the leading minds in the crypto space aired on youtube. IT IS FIVE HOURS LONG. AND SUPER INFORMATIVE.

This from someone who’s got skin in this game. Not financial advice. Not a maximalist. Not a bandwagoner. Constant learning…. that’s all.

https://www.youtube.com/watch?v=FKh8hjJNhWc

Cheers

#28 Joseph R. on 07.10.21 at 2:25 pm

Against: NFTs of dubious value are being minted at a breathtaking pace. For example, a New York City man recently sold an NFT of his own flatulence for US$85.

—————————————————————-

Quite Trumpian!

I’m surprised his hasn’t crated his own crypto currency or NFT yet ( or has he already?). Call it the anti-AOC coin or something like that.

You’ll be able to prove to all your Facebook friends that you are a TRUE free man, not a government stooge by displaying your Trump Coins!

Plenty of angry fools, plenty of money.

#29 Mean Guy on 07.10.21 at 2:27 pm

“The great earth quake of Lisbon in 1775, killed over 60,000 people and destroyed all churches.
But left the brothel untouched”

Well thank god for that.

#30 Flop... on 07.10.21 at 2:30 pm

#16 Ponzius Pilatus on 07.10.21 at 12:16 pm
#8 crowdedelevatorfartz on 07.10.21 at 11:52 am
A series of photos of Lytton taken yesterday ( linked to the article) by the media as residents were taken for a tour of what’s left of the village.

One of the very few buildings to survive….?

The wooden church.

https://www.citynews1130.com/2021/07/09/lytton-bc-wildfire-evacuees-tour/
———————-
The great earth quake of Lisbon in 1775, killed over 60,000 people and destroyed all churches.
But left the brothel untouched.

////////////////////////////

Maybe Mother Nature decided there was enough cracks there already…

M47BC

#31 Doug Rowat on 07.10.21 at 2:32 pm

#24 Balmuto on 07.10.21 at 1:34 pm

I’m a big believer in crypto but I’m not really sold on NFTs. I get the analogy to an original piece of fine art which can also be copied. But the ease with which digital art can be reproduced and distributed, with no loss of quality, makes that comparison tenuous.

—-

The fine art market is rife with exceptional forgeries. Even amateur artist Sue Gross, the ex-wife of billionaire Bill Gross, created a pretty decent Picasso for herself during their divorce proceedings.

It’s not the accuracy and quality of the copy that’s at issue, it’s one’s ability to prove originality and ownership. And it’ll be up to investors to decide if the blockchain achieves this.

—Doug

#32 Ponzius Pilatus on 07.10.21 at 3:04 pm

#29 Mean Guy on 07.10.21 at 2:27 pm
“The great earth quake of Lisbon in 1775, killed over 60,000 people and destroyed all churches.
But left the brothel untouched”

Well thank god for that.
—————–
This had huge implications for the Catholic Church afterward.
The Portugese at that time were extremly religious.
And that shook their faith to the bone.
What kind of god does that?
Needless to say, the Pope had a lot of ‘splaining to do.

#33 Yukon Elvis on 07.10.21 at 3:04 pm

#4 crowdedelevatorfartz on 07.10.21 at 11:26 am

I can get US$85 for my flatulence?
++++++++++++++

If you could capture it in a jar Elon Musk would find a way to power a car with it. Maybe a space ship too.

#34 Ponzius Pilatius on 07.10.21 at 3:08 pm

As Freedom First would say.
No Blockchains for me.
It’s the new slavery.
And I think it enslaves mostly white guys this time.

#35 IHCTD9 on 07.10.21 at 3:18 pm

#16 Ponzius Pilatus on 07.10.21 at 12:16 pm
#8 crowdedelevatorfartz on 07.10.21 at 11:52 am
A series of photos of Lytton taken yesterday ( linked to the article) by the media as residents were taken for a tour of what’s left of the village.

One of the very few buildings to survive….?

The wooden church.

https://www.citynews1130.com/2021/07/09/lytton-bc-wildfire-evacuees-tour/
———————-
The great earth quake of Lisbon in 1775, killed over 60,000 people and destroyed all churches.
But left the brothel untouched.
———

Well, if we’re talking about 1775, that one brothel left standing is just math. :)

#36 Sydneysider on 07.10.21 at 3:50 pm

These NFTs are poorly named, because digital items are intrinsically fungible. It is the certificate of ownership that is non-fungible. The owner has no way of knowing whether he received the original article, or a digital copy of it.

#37 NSNG on 07.10.21 at 3:55 pm

The value of an image is in the ability to view it and appreciate it (which would require time to study). The reason artwork can be said to be valuable is because the original artist is often dead and thus their work cannot be duplicated (though many competent forgers would dispute that).

There is no inherent value in the first of a digital image because many high-quality cameras can capture it and reproduce it. First means little to nothing. Its very image is virtually impossible to be made scarce which is where the value is supposed to be derived.

If I said the word “Mona Lisa” even your mind would conjure up the image. You have no need to pay for access to the image thus anyone trying to sell you the painting or a print would get nothing from you except maybe a chuckle as the true value of even that artwork has been commoditized to near zero.

#38 Greater Poodle on 07.10.21 at 4:00 pm

how do you consistently separate the winners from the losers? Assessing an asset’s future value is exceptionally difficult under normal circumstances.

I like your writing, Doug, but isn’t valuing assets part of your job? If anyone should know how, it’s you!

One of my (many) beefs with the financial industry is the notion that asset values can be divined only by mystics with special powers. It’s not that hard. Personally, I just read financial statements, but maybe that makes me a mystic with special powers.

Anyways, you should replace “under normal circumstances” with “unproductive focus on story and lack of attention to valuation” in that last sentence. Something NFT “investors” embody.

#39 Leechy Fruit on 07.10.21 at 4:22 pm

5000 days:
Great picture compilation but I question its worth when the artist was able to produce more than 1 drawing/picture/image per day.

#40 Sail Away on 07.10.21 at 4:27 pm

#18 IHCTD9 on 07.10.21 at 12:43 pm
#153 Sail Away on 07.10.21 at 10:14 am

I’m a bit more optimistic this morning. Maybe that’s because the parachute is ready to go and we have good tax-free Roth IRAs in the US. Looking forward to resuming long vacations in other countries. Our daughter is now in Australia and we’re really hoping to get there this winter/their summer.

———-

For me it all hinges on criminal acts aligned with the social consensus, or party in power going unpunished. If that’s where we’re going, then I’ll be going too. I’ll give it till 2030 to hang my hat.

———-

That part is the same in the US. Last year’s BLM/Antifa riots were shockingly destructive and violent, but given a free pass by the media and the left in general.

Money is probably safer in the south with it being the world’s reserve currency and all.

#41 sszz on 07.10.21 at 4:31 pm

Sure, would you like to buy my fabulous ocean front villa in Alberta?

#42 NSNG on 07.10.21 at 5:02 pm

B.C. Hydro predicts ‘bottleneck’ as electric-vehicle demand ramps-up

Two-thirds of British Columbians are considering buying an EV over the next five years, according to a survey commissioned by B.C. Hydro

https://vancouversun.com/news/local-news/b-c-hydro-predicts-bottleneck-as-electric-vehicle-demand-ramps-up

best laid plans…

I think they would have been much more successful had they put their focus on hybrids.

#43 Flop... on 07.10.21 at 5:05 pm

Seems like Garth is the big fish in the small bowl in Lunenburg.

Boss, come out to the west coast.

Nobody gives a crap about anyone…

M47BC

#44 Alberta Ed on 07.10.21 at 5:39 pm

Pass. It’s all 1s and 0s.

#45 JR on 07.10.21 at 6:08 pm

Lots of misinformation in the article. The environmental impact for NFT’s is not the same as Bitcoin.
There is a difference between Mining (Proof of Work) versus Staking (Proof of Stake).
Please don’t post wildly inaccurate statements just to suit your narrative of the article.

#46 Modern Art on 07.10.21 at 6:33 pm

If you have not seen the documentary ‘The Price of Everything’ about the modern art world, you are missing one of the best documentaries out there.

And I am a total skeptic.

Trust me, just watch it. Fascinating. More interesting than the entire Hollywood movie production of the last 5 years.

#47 BillinBC on 07.10.21 at 6:37 pm

#42 NSNG

“B.C. Hydro predicts ‘bottleneck’ as electric-vehicle demand ramps-up

Two-thirds of British Columbians are considering buying an EV over the next five years, according to a survey commissioned by B.C. Hydro
——————————————————————
Not to worry: When completed in 2024, the Site C Dam will become the 4th largest producer of hydroelectricity in British Columbia with an installed capacity of 900 MW and an expected annual output of 5,100 GWh of electricity.

#48 Kool Aid on 07.10.21 at 6:49 pm

Interesting, Security, Custodianship, Immutability, Transferability, Verifiable/Whole Or Fractionalized Ownership at a touch of a button for pennies vs current costs, remarkable.

#49 Nonplused on 07.10.21 at 6:50 pm

#42 NSNG on 07.10.21 at 5:02 pm
B.C. Hydro predicts ‘bottleneck’ as electric-vehicle demand ramps-up

Two-thirds of British Columbians are considering buying an EV over the next five years, according to a survey commissioned by B.C. Hydro

https://vancouversun.com/news/local-news/b-c-hydro-predicts-bottleneck-as-electric-vehicle-demand-ramps-up

best laid plans…

I think they would have been much more successful had they put their focus on hybrids.

—————————————

I have an electric trimmer that runs for 1/2 an hour on a charge and then takes 3+ hours to recharge. I also have a gas trimmer that runs for hours on a tank which is maybe 3/4 of a liter, cuts twice as fast, and takes just minutes to refill. Herein lies the problem with our battery powered future.

#50 STeve French on 07.10.21 at 7:00 pm

There was more than 1 church in Lytton. did st. Ann’s parish survive ?

#51 Doug Rowat on 07.10.21 at 7:08 pm

#45 JR on 07.10.21 at 6:08 pm

Lots of misinformation in the article. The environmental impact for NFT’s is not the same as Bitcoin.

—-

I’m providing the prevailing arguments—without commentary on the accuracy of either side.

Unless you deny there’s a debate? Now that’s misinformation.

—Doug

#52 NSNG on 07.10.21 at 7:24 pm

#47 BillinBC on 07.10.21 at 6:37 pm

Or it will be the biggest political boondoggle in BC’s and maybe Canada’s history.

so far

#53 Nonplused on 07.10.21 at 7:33 pm

#47 BillinBC on 07.10.21 at 6:37 pm
#42 NSNG

“B.C. Hydro predicts ‘bottleneck’ as electric-vehicle demand ramps-up

Two-thirds of British Columbians are considering buying an EV over the next five years, according to a survey commissioned by B.C. Hydro
——————————————————————
Not to worry: When completed in 2024, the Site C Dam will become the 4th largest producer of hydroelectricity in British Columbia with an installed capacity of 900 MW and an expected annual output of 5,100 GWh of electricity.

—————————————-

BC Hydro’s peak hourly load in 2020 was 11,541 MW. So 900 MW seems like an impressive add of about 13%. But wait, what’s this? With an expected annual output of 5,100 GWh per year we see that the damn is only expected to operate at about a 15% load factor, because, well, it doesn’t rain every day. It is the same problem one encounters with wind and solar. Impressive maximum ratings do not translate into sustained production capacity.

So no, Site “C” isn’t going to save the day if everybody buys an electric car.

#54 Nonplused on 07.10.21 at 7:36 pm

#47 BillinBC on 07.10.21 at 6:37 pm

Whoops I screwed up converting MW to MWh. The load factor is only 6.5%.

#55 mark on 07.10.21 at 7:38 pm

“I also can’t remember the last time someone actually handed me a physical photograph to look at”

It was probably Chad Kroeger.

#56 Nonplused on 07.10.21 at 7:51 pm

Or maybe 65%. Maths are hard.

#57 cuke and tomato picker on 07.10.21 at 8:20 pm

I do not understand crypto currency and about site c in BC lets hope this works out there are lots of problems to over come flooding first nations land will be a big hurdle.
Maybe proving good paying jobs for the first nations in the area will be enough to move ahead. However the more we hear about site c the more confusing it becomes for the average person to understand.

#58 Billin BC on 07.10.21 at 8:23 pm

@52 NSNG
“#47 BillinBC on 07.10.21 at 6:37 pm

Or it will be the biggest political boondoggle in BC’s and maybe Canada’s history.

so far
——————————————————————
In April 2015, the federal and provincial governments named a Joint Review Panel to hold a public hearing on Site C.[37]

In addition to a long list of recommended changes, their assessment stated: “Despite high initial costs, and some uncertainty about when the power would be needed, the Project would provide a large and long-term increment of firm energy and capacity at a price that would benefit future generations. It would do this in a way that would produce a vastly smaller burden of greenhouse gases than any alternative save nuclear power, which B.C. has prohibited.”[38] At the time the report was released, the panel added, “Site C would be the least expensive of the alternatives, and its cost advantages would increase with the passing decades as inflation makes alternatives more costly.”[39]

#59 kommykim on 07.10.21 at 8:44 pm

RE: #24 Balmuto on 07.10.21 at 1:34 pm

For this reason I think Ether is the best crypto coin to be invested in long term and it will eventually surpass Bitcoin as the largest crypto by market cap.

=======================================

Ether…. What they called the medium that radio waves traveled in when they didn’t know any better. Also, sounds a bit like “vapourware” since it only exists in the virtual domain.

#60 Yukon Elvis on 07.10.21 at 9:12 pm

Strolling thru an auto recycling yard looking for a part for my vintage car. Saw a 1970ish pickup with a propane tank mounted in the back. Memories. Back in the day gasoline was expensive so many people converted their vehicles to propane. Cheaper and greener than gas/diesel. When the number of conversions became significant the BC government of the day decided to put a road tax on the propane. Guess what happened. That little industry died and people went back to gas/diesel. More memories. Grew up in Vancouver in the 50’s and 60’s. The city buses were all electric then. Cheap green energy thanks to our hydro electric power grid. The government of the day decided that diesel city buses were better and cheaper so the electric infrastructure was torn down and voila, diesel city buses. Seems like everything governments touch turns to caca.

#61 Colin on 07.10.21 at 9:25 pm

NFT?

NFW!

#62 Dr V on 07.10.21 at 9:30 pm

47 Bill – sorry I cant tell if you put the sarcasm font on.

The following shows the origin of end use energy in BC

https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/provincial-territorial-energy-profiles/provincial-territorial-energy-profiles-british-columbia.html

36% petroleum based
18% electrical

So to replace all the petro-energy, we have to triple the current capacity. I’m presuming this would also include rail, air and industry. I was surprised at the large component of biofuels, though it makes sense for industrial use.

I recall reading that we’ll need 15 site Cs to electrify all
vehicles in BC.

Nonplused -what does your napkin say?

#63 Doug t on 07.10.21 at 9:32 pm

NFT’s are INCREDIBLY bad for the environment- they take so much energy to create and maintain – no thanks

#64 Dr V on 07.10.21 at 9:35 pm

here we go

https://www.cbc.ca/news/canada/british-columbia/b-c-electricity-requirements-for-ground-transportation-2055-1.5341996

#65 the Jaguar on 07.10.21 at 9:57 pm

@#60 Yukon Elvis on 07.10.21 at 9:12 pm

It isn’t electric cars that will save the earth. It’s rail.
An idea as old as the Beard of Moses. The rails beds are mostly already there from 100+ years ago.

If they build the one from Calgary to Edmonton it would follow that one would be built from Calgary to the US border.
Don’t know why rail doesn’t get more attention. It just makes so much sense. The Oracle of Omaha gets it.

https://edmonton.ctvnews.ca/race-to-build-high-speed-calgary-edmonton-rail-on-with-second-pitch-1.5502158

Doug, it’s easy to understand why some items are collectibles. Baseball cards, a real piece of art one can hang on the wall, cars people love or any other tangible thing. Something one can run their hands over or purchase for someone they love. ( Like Sail Away’s gift of love to his wife from their visit to Hawaii).

But original digital images? That’s nothing but bragging rights about something not worth bragging about. Ownership of that kind of an asset says everything about the person that desires to possess it. And it isn’t a very attractive picture. It’s worse than Beanie Babies.

#66 Russ on 07.10.21 at 10:11 pm

slava on 07.10.21 at 2:45 pm

Elon Musk said people who don’t think AI could be smarter than them are ‘way dumber than they think they are’

-.,.——-
Yeah, the same can be said about people who quote Elon Musk without any critical thinking for themselves :)
==========================

Elon Musk is wrong.

Artificial Intelligence is no match for Natural Stupidity.

Cheers, R

#67 the Jaguar on 07.10.21 at 10:23 pm

#64 Dr V on 07.10.21 at 9:35 pm

I rest my case. Rail, not electric cars.

#68 Slava on 07.10.21 at 10:30 pm

NFT is not a proof of ownership of anything. Well ok, I’ll rephrase, it is as much a proof of ownership as that certificate in my drawer saying I own 1000 acres of moon surface.

You own a record in a database, and that is as far as it goes.

Talking about original vs copy when it comes to digital art is patently absurd. They are identical, they are the same, there is no way to tell one from another. They are just files. And by the way, files themselves are not stored on the blackchain, so really you only get a record saying this dude owns that. If you believe that record, I’ve got a bridge to sell to you.

#69 Billin BC on 07.10.21 at 10:38 pm

#62 Dr V
“I recall reading that we’ll need 15 site Cs to electrify all
vehicles in BC.
——————————————————————
Couple of thoughts>
It could be 20 years before “all” vehicles are electric. If ever.
My sense is that small scale nuclear reactors will prove to be a viable method for increasing capacity.
Some are of the view that hydrogen will also be a major player for transportation energy.
Also, the “next big thing” is likely unimaginable (much like the internet was 30 years ago) and will likely be energy related.

#70 Slava on 07.10.21 at 10:40 pm

#13 Tim H on 07.10.21 at 12:09 pm

>> and you sir are pretty full of shit for saying so.
———————————————————–

Second that. Garth, you need to vet your guest posts more thoroughly.

Few of the recently sold NFTs don’t even come with a copyright FFS.

#71 Slava on 07.10.21 at 10:51 pm

I think NFT actually stands for Non Freaking Tangible

#72 Sail Away on 07.10.21 at 10:55 pm

#65 the Jaguar on 07.10.21 at 9:57 pm

Doug, it’s easy to understand why some items are collectibles…. Something one can run their hands over or purchase for someone they love. ( Like Sail Away’s gift of love to his wife from their visit to Hawaii).

———

Aw, thanks. We love it. Very nice piece.

#73 crowdedelevatorfartz on 07.10.21 at 10:55 pm

@#58 Billin BC
“At the time the report was released, the panel added, “Site C would be the least expensive of the alternatives, and its cost advantages would increase with the passing decades as inflation makes alternatives more costly.”

+++++

Site C is a disaster waiting to happen.
An Earthen Dam built upon unstable clay and shale.
A bridge built on the Alaska Highway up river from the Dam on the same type of shale clay base in the 1940’s only lasted a few years before failing.
Fracking around the area has caused bigger and bigger earthquakes.
Large landslides along the rivers edge have occurred in the immediate vicinity since the Dam construction has started.
The design of the dam has changed to “deal” with the uncertainty of the base….increasing its multi billion dollar cost.
It will be the largest Earthen “L” shaped Dam in the world.

But the former Liberal Premier boasted she would “build it to the point of no return” and after several billion dollars was spent….the new NDP govt refused to pull the pin on thousands of union jobs……

If that $15 Billion dollar dirt Dam built by SNC Lavalin lasts 5 years after its filled….
I’ll be amazed.

https://thenarwhal.ca/bc-hydro-site-c-slope-instability-bcuc/#:~:text=The%20public%20only%20found%20out,it%20is%20in%20serious%20trouble.

https://www.policynote.ca/big-fracking-mess/

https://www.theglobeandmail.com/opinion/editorials/article-the-site-c-dam-has-been-a-disaster-in-the-making-for-decades-should-bc/

#74 Yukon Elvis on 07.10.21 at 10:58 pm

#65 the Jaguar on 07.10.21 at 9:57 pm
@#60 Yukon Elvis on 07.10.21 at 9:12 pm

It isn’t electric cars that will save the earth. It’s rail.
An idea as old as the Beard of Moses. The rails beds are mostly already there from 100+ years ago.

+++++++++++++++++++++++++

Electrocution. That’s the iffy part. The city busses in Van had two cables in drums on the rear of the bus to transmit power from the power lines to the bus. We used to jump on the rear bumpers of the busses and hold on to the drums without touching the cables and get a free ride. Sometimes the cops would see us and follow the bus but we would wait until the bus came to a stop and then we would jump off and run like hell.

#75 Dr V on 07.10.21 at 11:59 pm

65 Jaguar – it’s amazing how many railways were on VI decades ago – many for the forest industry.

The large mainlines ran from Victoria to Youbou at cowichan Lake via Shawnigan lake (CN), and from Victoria to Courtenay along the east coast (E & N then CPR) which also had a branch from Duncan to cowichan Lake, and another to Port Alberni.

Routes were surveyed from Youbou to port Alberni and
from Port Alberni to the west coast but never built. There was even a grand plan to build bridges across
the strait near campbell River to make it cross country.

The CN was removed in the 1980s and is now used as a recreational trail. Same with the E & N from Duncan to Lake Cowichan.

The remaining tracks need an overhaul and probably new ties over the entire route. It’s constant background noise on the local news. I think they run a locie back and forth in Nanaimo, but that may only be to claim its still a functioning Railway.

The Nimpkish valley logging railroad on the north end of the island has now been removed after the tragic deaths of 3 workers in an accident. 90km of tracks.

#76 Zoomer McBoomer on 07.11.21 at 12:43 am

Da Vinci didn’t need Blockchain to verify his work…he had talent. And , his work was something any masturbating basement dwelling goon could replicate in an afternoon on crack laced pot. Sorry NTF ers, but the idea of NFT is just stupid. Sure, I get it, it’s a rebellion, OK….barf. Seriously? This is why the top downloads are 70’s soundtracks and movie music is Creedance Clearwater Revival ….because there’s no pool of talent to draw from in these “Talentless Twenties”. Say what you want about the Boomers, but at least we could draw, count and play an instrument.

#77 RAY SPENCER on 07.11.21 at 12:50 am

If I was going to bet between a guy who has rendered returnable rocketry to now a normal boring thing, a guy that is disrupting the ice Automotive companies with superior engineering and growing the production by 50% a year for the last 5 years, and is on tract to continue this growth for the remainder of the decade, a guy who is disrupting the Energy Infrastructure industries with renewable solar energy coupled with batteries and Autobidder software that allows the home owner to buy and sell the energy they make to the highest bidder, and the same guy that is installing a world wide internet service to anywhere on earth (besides the Poles) that will have better data transfer rates and responce times than fiber optics To a Blob Dog that thinks Elon Musk is a promoter and not really that smart, I am going to place my casino token on Elon’s square.Where other Blog Dogs place their tokens…is irrelevant

#78 J on 07.11.21 at 1:05 am

A future trend that Garth has mentioned will impact Canadian cities is already well underway in the US.

Moving back to the big cities, upping the rents.

https://www.chron.com/business/article/Rent-prices-are-soaring-as-Americans-flock-back-16305885.php

#79 Nonplused on 07.11.21 at 2:10 am

#62 Dr V on 07.10.21 at 9:30 pm
47 Bill – sorry I cant tell if you put the sarcasm font on.

The following shows the origin of end use energy in BC

https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/provincial-territorial-energy-profiles/provincial-territorial-energy-profiles-british-columbia.html

36% petroleum based
18% electrical

So to replace all the petro-energy, we have to triple the current capacity. I’m presuming this would also include rail, air and industry. I was surprised at the large component of biofuels, though it makes sense for industrial use.

I recall reading that we’ll need 15 site Cs to electrify all
vehicles in BC.

Nonplused -what does your napkin say?

———————————–

My napkin says that the difference between the electricity we have and the electricity we need will result in a lot of tears. I mean it is probably not impossible if we throw Gen IV nuclear in, but all we are working on is the cars.

#80 Ustabe on 07.11.21 at 3:15 am

#40 Sail Away on 07.10.21 at 4:27 pm


That part is the same in the US. Last year’s BLM/Antifa riots were shockingly destructive and violent, but given a free pass by the media and the left in general

Sail, you know I hate to see you make an ass of yourself, you know me, providing sources and links and all even tho you seem to ignore them all the time.

1) Antifa isn’t a thing, its a tactic. Find me one website, one email address, one membership card and I’ll donate to the charity of your choice…you don’t have to do anything, just prove to me that the right wing antifa bugaboo is a thing, not a tactic and tell me which charity.

Both your beloved US Dept of Homeland Security and the FBI are on record stating that antifa doesn’t exist as a populated movement, in fact they state, unequivocally, that the biggest threat to US security is right wing extremism.

2) No one begrudges you your art purchase, what you got grief for was coming on here and trumpeting your production house art piece as equivalent to acquiring a Monet.

3) Have you been keeping up on what red states are doing to themselves in the US? Ohio now allows, by law, you to sue any woman who you know to have had an abortion. Florida, by law, allows your children’s genitals to be checked prior to playing school sports. Georgia, by law, allows you to be felony charged for giving a water bottle to anyone standing in line to vote.

That list could go on and on….yet you all find crap to bitch about up here? And your preference is to move where?

4) You need to look up what the judiciary is doing with all your BLM/antifa arrestees. Most, vast majority are getting charges dropped and set free as there was no evidence of them doing the crimes the police charged them with. In fact a significant body of evidence shows that violence, property destruction started with hooded white guys wearing police issue gas masks and police issue flak vests. Go ahead, ask me for a source. Cause you know I’ve got them, you just ignore them.

5) Significant evidence and thought now homing in on disgruntled indigenous youth setting the church fires, not the SJW’s you far right low info guys seem to want.

I’ll tell you this, a bunch of white folks traipsing through a res at night would not go unnoticed. Plus some of those reservations even you, you Venezuelan war hero, would be seriously afraid to enter, day or night.

#81 Sail Away on 07.11.21 at 7:52 am

#80 Ustabe on 07.11.21 at 3:15 am

…you Venezuelan war hero…

———

Thanks! But I was no hero- just another Airborne Ranger doing the mission my country asked.

You?

#82 Sail Away on 07.11.21 at 8:18 am

#80 Ustabe on 07.11.21 at 3:15 am

Florida, by law, allows your children’s genitals to be checked prior to playing school sports.

———

By, like, bystanders, or how does that work?

#83 X on 07.11.21 at 8:27 am

NFT’s are interesting, there is far more detail, and they are kinda neat to check out. You can pull out your phone or ipad and show anyone, anywhere. However I would prefer the old school framing and displaying. I like my sports memorabilia, and enjoy just seeing it when I walk into a room. Art, in any form, is to be displayed and seen, imo.

Now as an investment, who knows.

#84 Dharma Bum on 07.11.21 at 8:52 am

#34 Ponzarelli

As Freedom First would say.
No Blockchains for me.
It’s the new slavery.
And I think it enslaves mostly white guys this time.
——————————————————————————–

Yes. Another way to track and trace and monitor and tax.

No thanks.

It’s a great time to be an ignorant old fart. There’s great comfort in knowing that I’ll never have to deal with any of this newfangled crap.

Now, get off my lawn!

#85 Gotta Get Out of Calgary on 07.11.21 at 8:58 am

#96 Flop… on 07.09.21 at 7:49 pm

If there’s failure on the flag finding front, a more powerful gesture might be for a few hundred of us to mail in a bunch of smaller flags and we find some old retired fisherman to stitch them all together for Canada Day next year.

————————
Better yet, everyone mail the flags to Lunenburg town council — remind them the town is still part of Canada and officially a Canadian heritage site too.

The thieves are not only criminals (theft, trespass) but also hypocrites — enjoying the freedom of speech, national healthcare system, transportation infrastructure, and many other advantages living in Canada provides. Had the threats, demands and theft occurred in other countries, the results for them would have been very different. Try stealing a national icon in North Korea —- maybe they need to be taught about Otto Warmbier.

#86 Sara on 07.11.21 at 9:03 am

#80 Ustabe on 07.11.21 at 3:15 am
#40 Sail Away on 07.10.21 at 4:27 pm


That part is the same in the US. Last year’s BLM/Antifa riots were shockingly destructive and violent, but given a free pass by the media and the left in general

Sail, you know I hate to see you make an ass of yourself, you know me, providing sources and links and all even tho you seem to ignore them all the time.

1) Antifa isn’t a thing, its a tactic. Find me one website, one email address, one membership card and I’ll donate to the charity of your choice…you don’t have to do anything, just prove to me that the right wing antifa bugaboo is a thing, not a tactic and tell me which charity.

Both your beloved US Dept of Homeland Security and the FBI are on record stating that antifa doesn’t exist as a populated movement, in fact they state, unequivocally, that the biggest threat to US security is right wing extremism.

======================

It is interesting how one can be somewhat intelligent yet an ass at the same time. Tactic is right.

#87 Bob Wonders Why on 07.11.21 at 10:19 am

Why are super modern Gigifactories being built in high tax and high reg locations like UK and Trudeau can’t attract anything but bad press that scares away all foreign investment? How long can trading houses to rich civil servants carry the economy?

https://www.cnbc.com/video/2021/07/09/nissan-announces-plans-to-build-ev-battery-gigafactory-in-uk.html

#88 crowdedelevatorfartz on 07.11.21 at 10:26 am

@#79 Nonplused
“My napkin says that the difference between the electricity we have and the electricity we need will result in a lot of tears. ”

++++

Yep.
Even the huge site C Dam is essentially being built for “cheap” “clean” power for the Liquid Natural Gas industry.
You need lots of power to super cool Nat Gas into Liquid Nat Gas.

Site C wasnt about the environment…..it was about attracting big biz to Northern BC to build a LNG refinery and distribution terminus in Prince Rupert.
Nothing more “green” than that.

Who knows.
If LNG goes the way of the Dodo in 50 years due to climate change maybe we can use all that power for crypto-crap calculations.
Everyone else will be solar.
Should be fun watching people in 50 years holding up their phones to the ever hotter sun to recharge them.

#89 SOMETHINGS UP!! on 07.11.21 at 10:27 am

I can tell by the comments that Garth’s followers are a bunch of “Old Folk”.

#90 crowdedelevatorfartz on 07.11.21 at 10:30 am

@#81 Sail Away
“just another Airborne Ranger doing the mission my country asked.”

+++

How many years after you retire from the US Military can they recall you in a time of war?
5? 10? Or until you reach a certain age say 50?

#91 crowdedelevatorfartz on 07.11.21 at 10:35 am

@#82 Sara
“It is interesting how one can be somewhat intelligent yet an ass at the same time. ”

+++

Your self deprecation is endearing.

#92 Sail Away on 07.11.21 at 11:16 am

#88 crowdedelevatorfartz on 07.11.21 at 10:30 am
@#81 Sail Away

“just another Airborne Ranger doing the mission my country asked.”

———

How many years after you retire from the US Military can they recall you in a time of war?
5? 10? Or until you reach a certain age say 50?

———

I’m not positive, but think retired is retired. After serving an enlistment, though, you are placed on inactive reserve for 8 years during which you can theoretically be recalled. In my case, I received letters inviting me to return for at least 10 years during the Iraq War and Afghanistan, with incentives, but never any summonses.

#93 the Jaguar on 07.11.21 at 11:20 am

#50 STeve French on 07.10.21 at 7:00 pm
There was more than 1 church in Lytton. did st. Ann’s parish survive ? ++++++++

It was the “‘Anglican church of St. Barnabas, the parish hall, and the community hall are all still standing and seem to be undamaged.”
A person with religious leanings might think this was God’s way of saying ” You want fire? I’ll give you fire, and when it’s over only the House of God will remain standing”.

Jaguar is not religious, but given the church was Anglican, if anybody is betting on the soccer game today you might want to put your money on England. Enough said.

P.S. It’s happened before. This miracle stuff. ” The Hiroshima Peace Memorial (Genbaku Dome) is the only structure left standing near the hypocenter of the first atomic bomb which exploded on 6 August 1945, and it remains in the condition right after the explosion. ”

P.P.S Quite the reveal in this mornings comments. Gracious. Not a surprise, just a confirmation.

#94 JR on 07.11.21 at 11:24 am

#63 Doug t on 07.10.21 at 9:32 pm
NFT’s are INCREDIBLY bad for the environment- they take so much energy to create and maintain – no thanks

Bitcoin uses POW concensus (incredibly energy intensive).
Ethereum, and most new chains use POS (almost no enery footprint.)

Bitcoin does not have any NFT’s. They are all built on top of Ethereum or other new blockchains that use POS.

Please do your research, you are very wrong on this one subject.

#95 Faron on 07.11.21 at 11:35 am

#80 Ustabe on 07.11.21 at 3:15 am

Zing!

New right tactics:

1) present plausible sounding story (directly culled from Tucker Carlson’s talking points) as “fact”
2) try to defend it
3) fail at defending it because factually incorrect 95% of time
4) resort to bluster and bullying
5) deflect with a Whattaboutism or two
6) point out how well off they are
7) pretend the lie never happened.

For the majority who see this for what it is, it’s a destructive joke. The purveyors are jokes of humanity that inflict real harm and pain and even death by their proxy. Sail Away, you are a joke, a farce, a clown, even a blind idiot who dresses up as a quasi wise purveyor of real truths. Those truths are mostly flimsy pseudo-philosophy.

Finally, you are addicted to commenting on Garth’s blog and your inability to “choose” not to comment here is a hilarious indictment of one of your flimsy truths. If you had an ounce of integrity, you would be embarrassed by your actions. Grow up and get a damned life.

#96 Mean Guy on 07.11.21 at 11:47 am

#80 Ustabe

Where’s the website, email address and membership card for the “right wing extremist” group?

The entire US bureaucracy has been politicized, including the intelligence agencies, especially at the top, as they are political appointees after all.

I love to see the left embrace the CIA, the defense industry and big tech.

It’s the way things should have been from the start, but it’s getting sorted out now.

Big government and Big Brother authoritarianism was never a thing for most of the right, especially the libertarian ‘right’. But it fits nicely with the left.

#97 IHCTD9 on 07.11.21 at 12:02 pm

#40 Sail Away on 07.10.21 at 4:27 pm

That part is the same in the US. Last year’s BLM/Antifa riots were shockingly destructive and violent, but given a free pass by the media and the left in general.

Money is probably safer in the south with it being the world’s reserve currency and all.

———

Aye, lots of thinking to do. I’d much rather the issue just get fixed. This is a very specific gripe of mine, so it may ultimately not be worth acting on. I’ve had kids come on my property at night and steal stuff out of my vehicles, didn’t bother me in the slightest. I see the riots and destruction in larger cities and urban centres, yet still feel safe from it.

It’s different if I feel attacked on ideological, racial, or political grounds. This stands in opposition to the traditional values of the West. Maybe those values are changing? If the SJW’s can draw a line at attacking institutions and government, that’s cool with me. If you attack me personally, it’s a whole different ball game.

#98 TurnerNation on 07.11.21 at 12:06 pm

#147 Dharma Bum on 07.10.21 at 7:31 am

Did you RTFM before shooting your mouth off?

https://www.fda.gov/media/144414/download
“WHAT IS THE PFIZER-BIONTECH COVID-19 VACCINE?
The Pfizer-BioNTech COVID-19 Vaccine is an unapproved vaccine that may prevent
COVID-19. There is no FDA-approved vaccine to prevent COVID-19”


— Some weekend miscellaney. Why the global focus – of the first time ever – in ordering humans 6-6-6 feet apart? Any science behind this?
Way to depersonalize & disoconnect – 5 feet max:

https://in5d.com/the-heart-has-its-own-brain-and-consciousness/
Experiments conducted at the Institute of HeartMath have found remarkable evidence that the heart’s electromagnetic field can transmit information between people. We have been able to measure an exchange of heart energy between individuals up to 5 feet apart. We have also found that one person’s brain waves can actually synchronize to another person’s heart. Furthermore, when an individual is generating a coherent heart rhythm, synchronization between that person’s brain waves and another person’s heartbeat is more likely to occur. These findings have intriguing implications, suggesting that individuals in a psychophysiologically coherent state become more aware of the information encoded in the heart fields of those around them.

#99 Sail Away on 07.11.21 at 12:09 pm

#93 Faron on 07.11.21 at 11:35 am

Sail Away, you are a joke, a farce, a clown, even a blind idiot

——–

Wow. I, personally, would not speak to me that way.

#100 Marcia M on 07.11.21 at 4:35 pm

#93 Faron on 07.11.21 at 11:35 am

Sail Away, you are a joke, a farce, a clown, even a blind idiot

Agreed.

#101 Suburban Bob on 07.11.21 at 6:17 pm

#84 Dharma Bum on 07.11.21 at 8:52 am

#34 Ponzarelli

As Freedom First would say.
No Blockchains for me.
It’s the new slavery.
And I think it enslaves mostly white guys this time.
——————————————————————————–

Yes. Another way to track and trace and monitor and tax.

No thanks.

It’s a great time to be an ignorant old fart. There’s great comfort in knowing that I’ll never have to deal with any of this newfangled crap.

Now, get off my lawn!

________________________

Be careful, DB, the milenials might come after you!

#102 Taylor on 07.11.21 at 7:31 pm

Do they still make Memorex!?

#103 whiterice197 on 07.11.21 at 10:36 pm

Good point on the Winklevoss twins’ investment in NFTs, specifically how they acquired Nifty gateway. Their story is intriguing, and I think they will be remembered as more successful in many ways than Zuckerberg. They basically let the founders of Nifty gateway continue to do their thing, and are known for developing productive partnerships with the artists.

The Winklevoss twins were right about bitcoin, and became billionaires because of it. They are also very bullish on ethereum, and of course NFTs as you mentioned.

For those that believe in ethereum, and that programmable, decentralized money is the future, they will be viewed as visionaries.

Due to QE, and seeing CBs letting the money printer “go burr,” I think we will see a shift of bonds with their negative relative yields go into stores of value such as bitcoin (digital gold, not a currency), and ethereum (going to environmentally green proof of stake).
It will be like trying to put a swimming pools worth of water into a plastic bottle.