Latin America so rich in natural resources has contributed to the world’s economic growth through their natural resources such as iron, silver galleons, copper, etc. This resources have helped grown some countries like China and the Spanish empire which has benefited immensely from the export of Latin America natural resources. The growth of renewable energy across the globe has brought about a new economic fact as to the use of Latin Americas natural resources, domestically Latin America’s exploration of its natural resources such as its biofuel energy resources, geothermal, solar as thus contributed immensely to its economy. Its Energy resources has brought Latin America on the edge of a major breakthrough by creating business opportunities for the region.
According to the BP’s Statistical Review, Latin America accounts for more than 20% of the world’s oil reserves, making it the second-most important oil region in the world, which, is probably why it relies so heavily on the stuff and which has contributed also to its GDP. Oil accounted for 46% of the region’s total primary energy supply (TPES) in 2013, well above the global average of 31%. Oil has been the only common form of power when it comes to transportation which is likely going to make the oil-based fuel to keep its pole position for some time to come. The reliance on Oil has crippled the market for the emergence of new ground breaking technology such as ethanol and Electric cars.
Due to the instability in oil price The Caribbean and the Central American countries which depended mainly on the importation of oil were the first set of country to move away from oil based power plant to look for another substitute. Having discovered the enormous potential in the use of Electricity, Latin America has since begun to wean its self-off its dependence on oil by focusing on its power sector. By doing this Latin America power sector has been predicted to generate almost double its present electricity output from 2015-2040.
Source: Market Views Dot Com
When should I sell my mutual funds?
Due to the instability in the market, investors are losing faith investing in mutual funds and selling off their mutual funds, diverting the money elsewhere if it will bring about a much larger gain. But little do they know that all investment have their own adverse moment too. So is selling of mutual funds the best thing to do?
It can be hard for investors to remember that they need to sit on their hands when they hear bad news. That is why, financial analyst suggest that the only time you need to sell off your mutual funds should be when you need liquidity and for you to achieve this you need to plan well ahead of time to make the move. Liquefying ones mutual funds immediately when there is a decline in the market is very common among the new investors which is why financial experts work closely to determine the level of liquidity of its mutual fund so as to reduce the pressure for investors to sell their mutual funds when the market is down and also help include funds from different part of the market in their portfolio.
However high expense ratio, high turnover ratios and change in fund manager are red flags that can bring about a change in mutual funds. Some finance expert suggest that tax-managed mutual funds, and exchange traded funds are one of the best form of mutual funds for investors as it has a reduced turnover ratio and low tax cost.
If an investors decide to liquidate its mutual funds, he should keep an eye on its tax and its capital gain distribution. Peradventure it mutual fund is at a loss or the mutual funds has been held for more than a year its capital gains will be taxed at income level but to avoid been taxed heavily selling before distribution will be a very good option for investors.
Source: Edition Dot CNN Dot Com
Is Bitcoin Mining Replacing Fossil Fuel Jobs?
Technology taking over blue collar job has been happening to the auto industry for decades via automation. Now, Bitcoin mining offers promises for areas where Oil based job once dominated the economy. What could Bit coin really mean?
Bitcoin themselves are just snippet of codes which refers to the encoded digital Accounting or ledge that tracks any kind of transaction. Bitcoin been another form of cryptocurrency is based on Blockchain technology, the idea of Bitcoin was to produce a means of exchange, independent of any central authority, which could be transferred electronically in a secure, verifiable and immutable way
Bitcoin mining process is very energy-intensive which needs a mega fast, smart computer and by estimate, bitcoin requires 215 kilowatt-hours of energy for each transaction and for a total energy consumption it takes as much electricity as 2 million U.S homes.
In the quest of finding bitcoin, Butte Montana which was once home to the nation’s largest copper mining industry, Butte has closed most of its earthworks due to its new found technology ‘Bitcoin’. CryptoWatt Mining LLC of Montana started operations on March 14 with 2,000 servers at a site south of Butte that was formally known as the Mike Mansfield Advanced Technology Center, but due to the noise generated by the mining computers the company is now looking to install different fans on their machine or relocate somewhere else.
Generally mining might be a real sock in the arm for communities where land and electricity are cheap, but it’s a good thing Montana has started focusing on the next generation technology more so Montana needs to stop of dwelling so much on the odd side of the crypto operations but focus more on the good side as it will add more jobs for city.
Source: PayScale Dot Com
What does the future hold for bitcoin?
Has the bitcoin bubble burst? Or will its widespread recognition as the leading cryptocurrency be enough to hold off faster, newer cryptos?
Bitcoin first launched in 2009, becoming the poster-child for the cryptocurrency boom. It became the first “decentralized” currency, operating outside of the influences of central government or an administrator. Through the development of blockchain technology it became mainstream, in addition it allows transactions to be verified, bringing more security and transparency to crypto currency market, utilizing a peer-to-peer system as transactions are verified directly between users.
The current market cap of all cryptocurrencies today stands at around $425 billion, having been as high as $800bn at the peak of the market. Bitcoin is by far the largest; it is valued at $157bn, compared with the second largest, Ethereum, at $68bn. While there is considerable debate about current valuations, many see a bright future for cryptocurrencies in general, believing they could revolutionize the whole money system.
However, there are still concerns about the amount of computing power, it takes to support bitcoin.
Questions have arisen over the possibilities of other cryptocurrencies marching the performance strength of bitcoin, even more out performing it. In terms of speed, ethereum is faster than bitcoin, which means transactions are completed in seconds rather than minutes, as a result, its supporters are suggesting that ethereum has a widespread than bitcoin, potentiating a platform for distributed computing. Other concerns about bitcoin is the amount of computing power needed to support it, and the effect this factor has on its prospectus growth. And this is could be an area where other cryptocurrencies may have the more efficient power options
Another important question is over governments willingness to accept currencies which they have no control. There have been concerns over who uses cryptocurrencies and how they are being used. This could impact all cryptocurrencies, but may in the end benefit longer-standing, better established cryptos such as bitcoin.
Bitcoin transactions are becoming more expensive, which is something to consider. Also its long-term viability depends on more people accepting it as a unit of payment, but its valuation has since nosedived, as a result the volatility of its value may count against it: no one wants to find that their currency buys a Mayfair apartment one day and a dingy bedsit the next. It’s a problem for all cryptocurrencies, but is likely to affect bitcoin more because of its high profile.
Source: Telegram Dot Co Dot UK
Lotteries in the United States
Lotteries are big businesses throughout the world which attracts quite a number of investors globally. Lottery is said to be a form of gambling which involves the drawing of lots of prize. The stake of playing a lottery game is so high and the chances of winning is so minimal but the good thing about gambling is its generation of large funds which proceedings goes into the development of the public sectors such as education and the likes, however is participating in lotteries a waste of money or is it a form of wise investment?
With the popularity of the game the chances of winning are very slim. Considering the population of united states, the chances of winning a lottery game is approximately 1 in 176,000,000 but hasn’t stop Americans from investing in the fanciful dreams of wealth and fortune .
The interesting thing about the mega million jackpot is the fact that in spite of the little chance of winning, Americans continue to buy the lottery ticket there by bringing a significant increase in the syndicates that are purchasing the ticket. Even after winning the lottery the future happiness or financial future on the long run isn’t guaranteed.
The benefit of national lotteries is the money generated for state funded projects such as education. Playing the lottery game can be very addictive but those who play the lottery game responsibly are contributing towards local community development. In monetary value, approximately 34 cents out of every $1 spent on lottery tickets is invested into education, with 58 cents being awarded to winners in the form of prizes and 6 cents paid to participating retailers for sales commissions.
There has been a lot of extreme opinion and controversy towards playing the national lotteries, participant are been encouraged to play the game responsibly and try to spend within their means there by enjoying themselves while contributing the state and national funding.
Source: Investopedia Dot Com
Written by: Temiloluwa Olabiyi