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      "body": "Net-benefit businesses are 100x less effort to profit from and scale, than 0-benefit businesses.\n\nYou make money at other people's EXPENSE.\n\nScamming people is as well. \n\nThe problem with 0-benefit businesses is that it takes money from unwilling participants.\n\nIt requires constant and consistent effort to trick/outsmart the funds from someone. \n\nThe beauty of net-benefit businesses is that the money is given willingly, happily and consistently. \n\nIt takes much less effort to retain the customer and thereby grows exponentially. \n\nIt's also MUCH easier on the marketing/sales team. \n\nLess time covering up unhappy customers is more time promoting happy customers and focusing on better marketing/sales angles. \n\nMorale also increases as the team is a net positive on the world. \n\nThe team FEELS GOOD doing what they're doing. \n\nThey're making the world a better place.\n\nBe VERY careful trying to become rich through FORCEFUL THEFT of other people's money (investing, scamming)\n\nIt is much EASIER and FASTER to become rich by providing a product/service that other people really benefit from. \n\nThe reason is simply the amount of effort required to grow and sustain a business. \n\nWant a quick relatively small win?\n\nHit and run?\n\n0-benefit businesses can work.\n\nWant sustained momentum?\n\nWant an exponential increase in wealth and wins?\n\nWant to be FOREVER RICH?\n\nNet-benefit businesses are how you'll do it. \n\nI cannot imagine hitting 100M+ status without a net-benefit business.\n\nToo many restarts would be required with hit-and-run tactics.\n\nNo momentum, no PERMANENT wins.\n\nMost rich-rich just had net-benefit business,\n\nThe fact they invested intelligently at the same time wasn't the game changer.\n\nTheir net-benefit business was.\n\nMichael Saylor is a good example of someone who runs a net-benefit business.\n\nSBF is a good example of someone who ran a 0-benefit business.\n\nBoth of them invested aggresively.\n\nOne is currently a legend, the other one is in jail.\n\nI could tell you how this fact of life further proves God is very real. \n\nBut that is a lesson for another time. \n\nWant to become rich-rich? Do good for the world and help people. \n\nThere is no faster or easier way.",
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      "body": "Weekly Recap:\n\n1) 🇦🇷 Argentina President Javier Milei confirms he will shut down the Central Bank.\n\n2) Netflix gave $11 million to a company to produce a movie and they lost it all trading stock options. \n\n3) Changpeng Zhao (CZ) resigns as Binance CEO. \n\n4) 🇺🇸 SEC Commissioner says \"there's no reason for us to stand in the way of a Spot Bitcoin  ETF.\" \n\n5) Binance CEO Changpeng Zhao (CZ) facing up to 18 months in prison as part of his plea deal with the US Government. \n\n6) Binance allowed ISIS, Al Qaeda, and Hamas to transact on its platform, US Government says. \n\n7) Pro-Bitcoin candidate Javier Milei wins Argentina Presidential election.\n\n8) $1.3 billion in user funds withdrawn from Binance following US Government indictment. \n\n9) OpenAI rehires Sam Altman as CEO. \n\n10) Binance CEO ChangPeng Zhao (CZ) released from custody on $175 million bond. \n\n11) Binance CEO CZ pleads guilty to violating criminal anti-money laundering requirements. \n\n12) Tether freezes $225 million in $USDT linked to human trafficking group. \n\n13) $38,000 Bitcoin \n\n14) 🇺🇸 SEC sues Kraken crypto exchange. \n\n15) Binance agrees to pay $4.3 billion to settle case with US Gouvernement",
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      "body": "![NedScott-steemit-logo.png](https://cdn.steemitimages.com/DQmNu6pzUKGRXzEkHkJZBzXKWBcY2CKkznsVA9s7k8iHNTW/NedScott-steemit-logo.png)\n\nIn the vast landscape of social media, Steemit stands out as a unique platform that leverages blockchain technology to redefine the way content creators are rewarded. Launched in 2016, Steemit introduces a decentralized approach to social networking, allowing users to earn cryptocurrency for their contributions.\n\nDecentralization and Blockchain\n\nAt the core of Steemit's innovation is its use of blockchain, a decentralized and distributed ledger technology. Unlike traditional social media platforms where a central authority governs content and user interactions, Steemit operates on a blockchain, providing transparency and immutability. This decentralized structure reduces the risk of censorship and promotes a more democratic environment.\n\nContent Rewards through Cryptocurrency\n\nOne of the distinctive features of Steemit is its reward system. Users on the platform can earn cryptocurrency, known as Steem, by creating and curating content. The reward distribution is based on a voting system, where users can upvote content they find valuable. The more upvotes a post receives, the more Steem the creator earns.\n\nThis mechanism incentivizes quality content creation and encourages user engagement. It also shifts the power dynamic from a centralized platform to the community, where users collectively determine the value of content.\n\nSteemit's Three-Tiered System\n\nSteemit employs a three-tiered system that includes creators, curators, and consumers. Creators produce content, curators identify valuable content and upvote it, and consumers enjoy the content while contributing to the overall ecosystem. This collaborative model fosters a sense of community and shared responsibility.\n\nChallenges and Criticisms\n\nWhile Steemit introduces an innovative concept, it has not been without challenges. The platform has faced criticism for issues related to content moderation, scalability, and the complexity of its reward system. Additionally, the volatility of cryptocurrency prices can impact the perceived value of Steem rewards.\n\nEvolution and Future Prospects\n\nSince its inception, Steemit has undergone several updates and improvements. The platform has evolved, addressing some of its initial challenges and adapting to the ever-changing landscape of social media and blockchain technology.\n\nThe future of Steemit holds the promise of continued innovation, with potential improvements in user experience, content discovery, and community engagement. As blockchain technology advances, Steemit's decentralized model may serve as inspiration for the next generation of social media platforms.\n\nIn conclusion, Steemit stands as a pioneering example of how blockchain can disrupt the traditional social media paradigm. By empowering users with the ability to earn cryptocurrency for their contributions, Steemit embodies a decentralized, community-driven approach to content creation and curation. While challenges persist, the ongoing evolution of Steemit hints at the transformative potential of blockchain in shaping the future of social media.",
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      "permlink": "bitcoin-blackrock-and-the-end-of-the-decentralization",
      "title": "Bitcoin, BlackRock and the end of the decentralization",
      "body": "BlackRock's entry into cryptocurrency marks the end of the idea of a decentralized world currency.\nThe arrival of BlackRock and other asset managers in the crypto space will bring Wall Street control to Bitcoin.\n\nBitcoin's rally in 2023 is driven by speculation and the potential approval of a spot ETF, but it does not indicate mainstream adoption.\n\nBitcoin USD (BTC-USD) has had a strong year with a gain of around 124% and crypto enthusiasts are cheering the impending arrival of BlackRock with spot exchange-traded funds (ETFs). Let’s look at the potential impact of the world’s largest asset manager in crypto.\n\nBlackRock’s entry ends the decentralization issue\nThe reality of BlackRock’s entry into cryptocurrency is that it ends the idea of a decentralized world currency. In my opinion, BlackRock's filing of ETFs for Bitcoin, and now for Ethereum USD (ETH-USD), make it a certainty that the Securities and Exchange Commission will give their blessing to a spot market-based ETF. I also believe that anyone who thinks the SEC will decline a spot offering really doesn't see how the corridors of power in Wall Street work. Larry Fink's asset management behemoth has spotted an opportunity and I don't believe Mr. Main Street will be the ultimate winner.\n\nFirst of all, if the Bitcoin enthusiasts are right about strong investor adoption then it simply means that the current whale-controlled speculative behavior in BTC gets handed over to Wall Street.\n\nIn BlackRock's SEC filing for the BTC ETF, it said:\n\n\"All shares in the ETF will be fully backed by BTC and no new shares can be issued without delivery of the corresponding value of tokens.\"\n\nThe more investors that buy shares in the spot ETF, the more BTC the asset manager needs to buy. Bitcoin fans then need to realize that if the cryptocurrency eventually meets their lofty price projections, Larry Fink's BlackRock OWNS Bitcoin.",
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