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Argentina Celebrates First Quarterly Budget Surplus Since 2008 under President Milei

By
Samuel Nwite
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0
TOPSHOT - Argentine presidential candidate for the La Libertad Avanza alliance Javier Milei waves to supporters after winning the presidential election runoff at his party headquarters in Buenos Aires on November 19, 2023. Libertarian outsider Javier Milei pulled off a massive upset Sunday with a resounding win in Argentina's presidential election, a stinging rebuke of the traditional parties that have overseen decades of economic decline. (Photo by Luis ROBAYO / AFP) (Photo by LUIS ROBAYO/AFP via Getty Images)

Argentina’s newly elected President, Javier Milei, has lauded his country’s achievement of its first quarterly budget surplus since 2008 as a historic milestone. 

Addressing the nation on Monday night via national television, Milei revealed that in the first quarter of 2024, Argentina recorded a budget surplus of approximately 275 billion pesos, equivalent to around $309 million at the official exchange rate. 

This surplus accounted for 0.2 percent of the country’s GDP.

“This is the first quarter with a financial surplus since 2008,” Milei proudly declared, taking a swipe at his left-wing predecessor, Cristina Kirchner’s initial year in office.

Milei, who assumed office in December, characterized the surplus as a remarkable global achievement. Emphasizing his economic ideology, the self-described “anarcho-capitalist” asserted that curbing inflation and achieving fiscal discipline were not magical feats but rather the result of prudent financial management.

The President’s victory in last November’s elections was fueled by promises to eliminate the deficit entirely, a goal more ambitious than the requirements set by the International Monetary Fund (IMF), with whom Argentina holds a $44 billion loan. To fulfill his pledge, Milei has implemented an austerity program, slashing subsidies for transportation fuel, and energy.

Despite Argentina grappling with annual inflation rates of 290 percent, a staggering 60 percent poverty rate, and a 20 percent decline in purchasing power for wage-earners, Milei remains resolute in his commitment to fiscal discipline. 

The austerity measures have led to thousands of public servants losing their jobs, reflecting the administration’s stance against public spending as a solution to economic woes.

However, the government’s cost-cutting measures have sparked protests, with university students, unions, and opposition parties organizing a march to denounce financing cuts to higher public education, research, and science. 

Universities have declared a budgetary emergency, citing stagnant funding levels amidst soaring inflation and energy costs. Ricardo Gelpi, the rector of the University of Buenos Aires (UBA), warned that without adequate funding, institutions could only sustain operations for a few more months.

However, positive signs of his austerity measures have been consistent. The South American country achieved its first monthly budget surplus in nearly 12 years in January. It recorded a positive balance for public-sector finances of US$589 million (approximately S$800 million) at the official exchange rate.

In addition to the removal of subsidies, the government made other major spending cuts.

Earlier this year, Presidential spokesman Manuel Adorni announced a government initiative to cut chauffeurs for public officials by 50%. Additionally, he revealed plans to sell two planes previously owned by the state-owned oil company YPF, citing their predominant use for what he described as “political privileges.”

“This is in addition to the reduction the government had already decided earlier this week […] We will continue to inform about the reduction of privileges every day,” he said. Adorni referred to the decision made earlier to decrease ministries by 50% and secretariats by 49%, aiming to curtail public spending.

These measures were expected to save nearly US$3 billion for the state.

BlockDAG Captures Attention with Keynote Video Teaser From Moon and $19.8M Presale as DOGE20 Listed on Uniswap

By
TI Partners
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0

As BlockDAG secures an impressive $19.8 million from its presale, overshadowing the recent listing of DOGE20 on Uniswap, let’s delve into why investors are increasingly drawn to BlockDAG’s 30,000x ROI. The DAG Paper V2 reveals how BlockDAG leverages its network to perform outstandingly, which was recently showcased in Las Vegas. With a forthcoming keynote set to be broadcast from the moon, BlockDAG continues to showcase its innovative strategies that leave its competitors behind, such as the Doge20 listed on Uniswap.

Comparing BlockDAG and Blockchain Technologies

Explore the next generation of distributed ledger technology with BlockDAG, where efficiency and scalability are paramount. Unlike traditional blockchains that link transactions end-to-end, creating bottlenecks as they expand, BlockDAG employs a network that allows multiple transactions to process concurrently. This advancement isn’t just an improvement—it revolutionizes how transactions are processed and recorded, setting new standards for the financial sector’s future.

DOGE20 Listed on Uniswap and its Stake-To-Earn Model

DOGE20, recently launched on Uniswap, represents another evolution of the famous Dogecoin, maintaining its meme appeal but with added functionalities designed for sustainability and practical use. It introduces a Stake-to-Earn system, incentivizing users to stake their coins in return for rewards, aiming to create a more stable economic model. The platform strives to engage its community through interactive and utility-driven features, attempting to break away from the usual limitations associated with meme coins.

BlockDAG’s Investment Appeal and the Promise of 30,000x ROI

BlockDAG is preparing to release its tenth batch of coins, increasing the price from $0.005 to $0.006, and continuing to attract significant investor interest. This move is fueled by the potential for a 30,000x return on investment, emphasizing BlockDAG’s growth potential and establishing it as a premier investment opportunity in the cryptocurrency arena for 2024.

BlockDAG’s Technological Impact and Future Prospects

BlockDAG is transforming DeFi transactions by merging the solid security features of blockchain with the swift efficiency of Directed Acyclic Graphs (DAGs). This combination enhances transaction speeds dramatically, opening new possibilities in various sectors like financial services, supply chain management, and the Internet of Things (IoT). Imagine processing up to 15,000 transactions per second with minimal delay—BlockDAG is setting new benchmarks for efficiency and cost-effectiveness in our digitally connected world.

Seizing the Moment: Investing in BlockDAG for Future Returns

BlockDAG is crafting a standout position in the crypto-sphere by integrating the dependable security of blockchain with the flexibility and speed of Directed Acyclic Graphs. This synthesis enables remarkable transaction speeds, up to 15,000 per second, reshaping the financial and technological landscapes.

As BlockDAG gears up to increase its coin value in the upcoming batch, the anticipated 30,000x ROI delineates a future further fueled by a keynote video teaser from the moon; where BlockDAG doesn’t just participate but leads in the market with distinction and innovation. This strategic foresight positions BlockDAG far ahead of competitors even with DOGE20 listed on Uniswap, ensuring its place as a leader in efficient and expansive growth within the crypto market.

 

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Best Crypto Investment: BlockDAG Dominates With A $19.8 Million Presale Stealing Investor’s Attention From Bitcoin Dogs Listing

By
TI Partners
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0

Meta-Description: While the world anticipates the Bitcoin Dogs listing soon, BlockDAG steals the spotlight with a record $19.8 million presale. Dive into the details of this buzz.

Join the elite group heading to the stars with BlockDAG, powered by the recent release of DAG Paper V2, which has stirred up significant excitement, including a major celebration in Las Vegas. With BlockDAG leading the way in success and wealth creation, the Bitcoin Dogs listing soon seems less critical, as it has only confused with its slow action.

Is the Bitcoin Dogs Listing Soon?

The leader of the Bitcoin Dogs project has shared updates with the community, stating that the listing of the 0DOG token is expected soon, although no specific dates have been confirmed. He urged patience and explained that the schedule for token claims and the exchange debut is being carefully planned to ensure the token’s integrity by avoiding early trading on decentralized exchanges (DEXs). Despite this, there is a lack of behind-the-scenes planning, as the team is still consulting with exchanges to ensure secure and stable listings on centralized platforms.

BlockDAG Shows Strong Community Support

BlockDAG has introduced a new feature on its website, providing live updates to keep its community well-informed. This gesture underscores BlockDAG’s commitment to its supporters who contributed to the impressive $19.8 million raised during the presale. With the presale price moving to $0.006 in the tenth batch, experts predict a significant return on investment, highlighting the potential for a 30,000x ROI.

Moreover, excitement is building as BlockDAG prepares for its next big reveal, with daily sales expected to reach an incredible $5 million. This momentum is bolstered by the attractively priced tenth batch of the presale and the thrilling announcement of an upcoming keynote video to be broadcast from the moon. BlockDAG’s strategic participation in various mining pools ensures fair reward distribution and maintains its strong position in the crypto market.

BlockDAG’s Innovations with PHANTOM & GHOSTDAG

BlockDAG is transforming blockchain technology by integrating the rock-solid security of traditional blockchains with the dynamic capabilities of Directed Acyclic Graphs (DAG). The core of this innovation lies in the PHANTOM protocol and the GHOSTDAG algorithm, which safeguard the community’s interests. PHANTOM ensures network security by selectively endorsing blocks, thus preventing double-spending and other security threats.

In parallel, GHOSTDAG enhances transaction sequencing and block acceptance by prioritizing the “heaviest” sub-DAG, which carries the most cumulative proof of work. This approach not only accelerates transaction processing but also strengthens the network against forks, ensuring a reliable and consensus-driven record of transactions.

The Resilience of BlockDAG

As we approach significant technological advancements, BlockDAG continues to push the boundaries of digital finance with its steadfast innovations and commitment earning $19.8 million in the presale phase. Meanwhile, the crypto community remains speculative about the Bitcoin Dogs listing soon. Both these developments promise a future rich in opportunities for investors and enthusiasts in the crypto space.

 

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Grayscale converts 20% of $GBTC to $BTC ETF, as Runes protocol launches

By
Paul Ugbede Godwin
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0

In a landmark move, Grayscale Investments has converted a significant portion of its Grayscale Bitcoin Trust (GBTC) holdings into a newly established Bitcoin ETF, setting a new precedent in the cryptocurrency investment landscape. This strategic shift involves 20% of their GBTC holdings, transitioning to an ETF that boasts an impressively low fee rate of 0.15%, a figure that stands out in the industry for its competitiveness.

The Grayscale Bitcoin Trust has been a pivotal player in the digital asset space, offering investors the opportunity to engage with Bitcoin in a security form, circumventing the complexities of direct purchases and the intricacies of Bitcoin storage and safekeeping. With a market price of $57.31 as of April 19, 2024, GBTC has established itself as the world’s largest Bitcoin ETF by assets under management as of March 31, 2024.

Grayscale’s decision to convert part of its GBTC holdings into a Bitcoin ETF is a reflection of the evolving market dynamics and investor preferences. The move is not just about offering a product with a lower fee structure but also about adapting to the regulatory environment and the growing demand for more traditional investment vehicles within the cryptocurrency domain.

The new Bitcoin ETF represents a significant evolution from GBTC’s inception as a private placement. Over a decade ago, GBTC was launched, marking the beginning of publicly traded Bitcoin funds. The journey from trading on OTC Markets under the symbol GBTC to its uplisting to NYSE Arca as a spot Bitcoin ETF in 2024 is a testament to Grayscale’s commitment to innovation and regulatory compliance.

This conversion aligns with Grayscale’s legacy as a pioneer in the Bitcoin investment vehicle space, backed by a decade of operational history and expertise. The transition to an ETF format is expected to offer investors enhanced liquidity and flexibility in managing their positions, catering to the dynamic needs of modern investors.

The introduction of the new Bitcoin ETF with a low fee rate is a strategic move that could potentially reshape the investment strategies of individuals and institutions alike. It underscores Grayscale’s foresight in recognizing the importance of cost-efficiency in investment products, especially in a market as volatile and unpredictable as that of cryptocurrencies.

As the digital asset landscape continues to mature, Grayscale’s latest move could serve as a catalyst for other industry players to reevaluate their offerings and fee structures. The conversion of GBTC holdings to a Bitcoin ETF is not merely a change in investment vehicle but a significant step towards the mainstream adoption of cryptocurrencies as a legitimate and accessible asset class.

For investors, this development opens up new avenues for Bitcoin exposure with the added benefits of a regulated, secure, and cost-effective investment product. It marks a new chapter in the story of Bitcoin investment, one that could very well influence the future trajectory of the cryptocurrency market.

Grayscale’s innovative approach and its new Bitcoin ETF could be the harbinger of a new era in cryptocurrency investment, where accessibility, security, and cost-effectiveness are at the forefront of product offerings. As the market continues to evolve, Grayscale’s strategic conversion may well be remembered as a pivotal moment in the journey towards a more inclusive and sophisticated digital asset economy.

The Runes protocol launches with CyberKongz, Runestone, and RSIC

Meanwhile, the blockchain gaming world is abuzz with the recent launch of the Runes protocol, a groundbreaking development that promises to revolutionize the way we interact with digital assets and gaming. At the forefront of this launch are CyberKongz, Runestone, and RSIC, each playing a pivotal role in the ecosystem’s dynamics.

CyberKongz, known for their unique and collectible NFTs, have taken the position of being one of the first to etch runes, marking their territory in this new realm. The significance of CyberKongz’s involvement cannot be understated, as they bring with them a dedicated community and a proven track record of success in the NFT space.

Runestone, on the other hand, offers a more mystical and enigmatic presence. As the third entity to etch runes, Runestone’s contribution is shrouded in mystery, yet it is expected to add a layer of depth and complexity to the Runes protocol. The anticipation around what Runestone will unveil is high, and enthusiasts are eagerly waiting to see how they will influence the protocol’s future.

RSIC, marked as the eighth in line, brings a technical edge to the process of rune etching. With a focus on the Rune Specific Inscription Circuits, RSIC is set to provide a peer-to-peer allocation system that could potentially streamline the distribution and mining of runes. This system is designed to be fair, transparent, and efficient, ensuring that all participants have an equal opportunity to benefit from the protocol.

The launch of the Runes protocol is not just a milestone for the entities involved but also for the broader blockchain community. It represents a shift towards a more integrated and immersive experience in blockchain gaming, where players can have a tangible impact on the game’s economy and its assets.

One of the primary advantages of runes is their ability to provide a secure and transparent way of handling transactions within games. Runes operate on a UTXO-based system, which is inherently secure due to its compatibility with Bitcoin’s architecture. This ensures that all transactions are verifiable and immutable, providing players with peace of mind regarding the authenticity of their in-game assets.

Furthermore, runes bring an innovative reward system to the table. By leveraging a deflationary reward pool concept, games that use runes can offer a sustainable economic model that benefits both players and investors. This model is inspired by the Bitcoin mining mechanism and ensures long-term growth and stability for the game’s economy.

Another significant benefit is the first-mover advantage that games adopting runes can enjoy. Being early adopters of this technology sets them apart from competitors and positions them as pioneers in the blockchain gaming space. This can lead to increased player engagement and retention as gamers are often drawn to platforms that offer cutting-edge features and technologies.

As the protocol activates and the first runes are etched, we stand at the cusp of a new era. An era where gaming and blockchain technology merge to create experiences that are not only entertaining but also rewarding. The Runes protocol is a testament to the innovation and creativity that is possible when communities come together to push the boundaries of what is possible in the digital world.

The excitement surrounding this launch is palpable, and the implications are far-reaching. From gamers to developers, investors to enthusiasts, the Runes protocol is a beacon of progress, signaling the endless possibilities that await in the realm of blockchain gaming.

Qualifications To The Defence of Self-defense

By
Stanley Alieke
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0

Every law in force in every jurisdiction; be it religious or secular law forbids and frowns upon the act of killing another man and this act of killing another man is dealt with the most serious punishment available which is killing the killer in return. But there is only one instance when a person is permitted to kill another person and he will not be punished for it. The only time you are permitted in law to kill another man is in self-defence; i.e. you are in a kill-or-be-killed situation and you killed your attacker in defence of yourself; you just have to do it to save your own life, ie in the defence of your person or self-defence. 

In the case of Ekeozor V State (2016) LPELR-40951(CA) the court of appeal held that for an accused person to rely on the defence of self-defence, “it must be seen that the life of the accused was so much endangered by the act of your adversary that the only means of escape from imminent death was to kill the attacker”. See the case of Okordudu v state (2014)LPELR -23210(CA)

This legal permission to kill another person has qualifications and these are some of its qualifications;

Firstly, It must be in a kill-or-be-killed situation. This is to say that you are only permitted to kill in the defense of your person or your property. 

Secondly, your response to the attack must be commensurate or equivalent to the force or threat by your attacker. For instance, you are only permitted to defend yourself with a gun or other deadly weapons if someone attacks you with a gun or other deadly weapons but you cannot defend yourself with a gun or with other deadly weapons against an attacker who is only confronting you with a fist or without any weapon. This second qualification therefore implies that your reprisal attack must be commensurate or equivalent to the perceived threat/ attack by your adversary if not you have committed murder if your adversary dies from the reprisal attack and therefore will not be permitted to rely on the defence of self-defence. 

Thirdly, the reprisal attack or response to the attack against your adversary must be immediately or at the moment of the attack. For instance, if someone shoots at you, you must shoot back in that instant for it to amount to self-defence, if you have to wait later or to catch the person unaware before you shoot the person, it is no longer self-defence. Therefore, the response or reprisal attack must be in the heat of the moment for it to qualify as self-defence

 

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