Qrafty shares an antidote to politicians with some AI help, new FTX juice surfaces and CBDCs will aid taxation, mkay?

***Qrafty smiling the biggest smile*** Aloha, crypto curious! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty has fresh bits from the crypto jungle, so let’s dive in: 📰 🌟

1. FTX Juice Keeps Flowing

2. US Gov Adds $275 Billion To Debt

3. CBDC To “Aid Taxation“ In Argentina

Bonus: AI Citizen Funding - A Framework

AI Citizen Funding

1. System Overview:

• The AI-powered citizen funding system is designed to replace traditional taxation methods with a more voluntary and participatory approach to funding public services. It leverages advanced technology and citizen involvement to create a more transparent and accountable funding model.

2. Voluntary Contributions:

• Citizens have the option to make voluntary contributions to fund public services they deem essential. This can be done through a secure online platform. The platform would provide a user-friendly interface where citizens can easily make contributions, set their preferred funding levels, and choose the specific public services or projects they wish to support.

3. AI-Assisted Budget Allocation:

• The system uses AI to analyze citizen contributions and allocate funds to various public services based on priorities determined through citizen surveys and feedback. The AI employs algorithms that consider factors like the popularity of specific services, urgency of needs, and available funds. It continuously optimizes resource allocation to maximize the impact of citizen contributions.

4. Transparent Resource Allocation:

• The AI provides transparent breakdowns of how contributions are allocated, allowing citizens to see exactly where their money is going. Citizens can access a dashboard or app that displays detailed reports showing the percentage of their contributions allocated to different services. This ensures accountability and builds trust in the system.

5. Participatory Decision-Making:

• Citizens have the opportunity to participate in budgeting decisions through online forums, town hall meetings, and surveys, influencing the allocation of funds. The platform hosts discussions and polls where citizens can voice their opinions on which services should receive priority funding. The AI incorporates this feedback into its allocation algorithms, giving citizens a direct say in resource distribution.

6. Incentives for Contributors:

• The system offers incentives for citizens to contribute, such as tax credits, priority access to certain services separate from critical services, or recognition for their contributions. Citizens who actively participate in funding public services may receive benefits that recognize their civic engagement. These incentives serve to motivate greater participation in the citizen funding system.

7. Accountability Measures:

• The AI maintains a public record of all contributions and allocations, ensuring transparency and accountability in the funding process. A public ledger or database records every transaction, providing a clear and verifiable history of how funds are distributed. This record can be accessed by anyone to verify the legitimacy and effectiveness of the citizen funding system.

8. Feedback Loop:

• The system incorporates citizen feedback to continuously refine the allocation process and address any concerns or areas for improvement. Regular surveys and feedback mechanisms gather input from citizens on their satisfaction with the funding system and their suggestions for enhancements. The AI uses this feedback to adapt its algorithms and improve resource allocation.

9. Emergency Funding Mechanism:

• In times of crisis or urgent need, the system can quickly mobilize additional resources through targeted appeals for contributions. The platform can send notifications to citizens, alerting them to urgent funding needs for specific services or emergency response efforts. Citizens can choose to allocate extra funds to address critical situations.

10. Education and Awareness Campaigns:

• The system includes a robust public education campaign to inform citizens about the benefits of the new funding model and how their contributions make a difference. Through various communication channels, the government promotes awareness of the citizen funding system, highlighting its impact on improving public services and strengthening civic engagement.

11. Legal Framework and Compliance:

• The system is designed to operate within the legal framework of the existing government structure, ensuring compliance with relevant laws and regulations. Legal experts work to ensure that the citizen funding system aligns with existing financial regulations and governance structures. This helps to establish the system as a legitimate and lawful means of funding public services.

12. Transition Period and Evaluation:

• The implementation of the new system would likely require a transition period. During this time, the effectiveness of the model would be evaluated, and adjustments made as needed. A phased approach would be taken to gradually integrate the citizen funding system, allowing for thorough testing, refinement, and evaluation before full-scale adoption. This ensures that any necessary adjustments are made for optimal functionality.

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

CBDC To “Aid Taxation” In Argentina

Ah, Juan Agustín D’Attellis Noguera, the maestro of Banco Central de la República Argentina, has bestowed upon us the vision of a 'digital peso'—a veritable panacea to combat hyperinflation. In his eloquent discourse with a local media emporium, he extolled the virtues of CBDC, suggesting it as the beacon for a novel tax regime, all thanks to the marvels of blockchain wizardry in tracking transactions.

That’s a load of bs and taxation is theft through incompetence of politicians and those who are supposed to manage those taxes towards the good of the people. Remember that. But it works for weak minds, it sounds good and makes you feel gooey inside, doesn’t it? Also, remember that hyperinflation is an outcome, not a cause.

An outcome generated by the same incompetent politicians now saying that CBDC is a cure. Politicians are the disease, their extinction is the cure as they are archaic and completely useless in a modern society.

This prodigious monetary marvel, we're assured, shall unfurl in stages. Initially, it shall frolic alongside its fiat sibling, as if in a pilot dance involving both the private and public sectors. Only after this intriguing overture shall it gallantly step forth to entirely supplant its paper predecessor.

With inflation figures soaring above the century mark annually, the government, it seems, is cooking up schemes aplenty to challenge the dollar's dominion as the preferred payment paragon.

More Juice From FTX: Adam Yedidia

Here’s an interesting FTX character for you that you’re not going to hear much about: Adam Yedidia. From MIT dormmates to Alameda Research colleagues in 2017, and then off to FTX for Yedidia in 2021. They even shared a swanky $35 million penthouse in the Bahamas with a handful of their closest companions from October 2021 to November 2022. Not bad, eh?

However, it seems the bromance hit a snag in November 2022 when Yedidia discovered FTX had dipped into customer deposits to settle some outstanding debts. A bit of a financial faux pas, one might say. This led Yedidia to bid adieu to the company. He didn't exactly shout it from the rooftops at the time though. No, he's only now letting the cat out of the bag, thanks to a nifty little deal called an immunity grant that keeps him out of hot water for any missteps during his time under Sam's wing. Unlike his colleagues Caroline Ellison and Nishad Singh, who didn't quite get the same lifeline.

Seems like Yedidia managed to navigate a rather cushy exit strategy, complete with a taste of the high life and a tidy sum to boot. Aside from knowing that customer funds had been misused, Yedidia said he knew that some US institutional investors were authorized to trade on FTX.com through their offshore arms.

Now, it’s important to remember that not all things are what they seem, especially in ecosystems which revolve around money and zero sum games. So just read below to see how deeply and profoundly impressed was Yedidia by SBF’s genius. Hypocrisy is a river that flows deep in humans.

Also, SBF’s two jets might be confiscated. Yes, it would seem that FTX owned two jets. You can’t really make this shit up. At this point, Qrafty is beginning to think if whether SBF was that much of a cretin or if he’s being sacrificed on the public altar by the people behind him who pocketed the gazillions and you don’t know anything about.

US Gov Adds $275 Billion To Debt

In a single day. That’s around half of Bitcoin’s market cap, which is $534 billion at this moment. Again, this amount was added in a single day.

Qrafty can’t help but wonder… what is the end game? This is a bomb that’s ticking and each and every single day draws near to its explosion.

Obviously, the people who have created this bomb won’t be the people who will suffer from the effects of its destruction, just like Little Boy and Fat Man back in the day, remember?

So the question is: who will get the blame? How will this huge debt be converted into a public persuasion program meant to shift the attention and guilt from politicians and those paying them? Who or what will be the new enemy? Russia? BRICS? AI? Aliens? Demons?

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Tomorrow's like a software update - you hope it fixes bugs, but you never quite know what new glitches it'll introduce!

Qrafty’s thougt of the day

Other stories

UK Wants Its Own Crypto Approach

The UK is steering clear of simply duplicating the EU's Markets in Crypto Assets (MiCA) legislation. Instead, it aims to adopt a tailored strategy geared towards enhancing competitiveness in crypto regulation.

South Korea's Central Bank to Test CBDCs

Another one bites the dust! South Korea's central bank, the Bank of Korea (BoK), is gearing up for a wholesale central bank digital currency (CBDC) trial, joining forces with the Bank for International Settlements (BIS) and other pivotal institutions in this endeavor.

Ledger lays off 12% of staff

The company pointed to broader economic challenges as a factor impeding its capacity to boost revenue, prompting the decision for these reductions.

Market Whispers

Bitcoin gave us false hopes today, making everyone believe he's got what it takes to reach $30k.

Well, it stopped at ~$28,120 and made an U turn, as we are already used to. It still got a chance to reach higher, if it closes the day above $27,5k. Plan remains the same, above $27.5k -> $28.4k -> $29.2k, below $27.5k -> $26.6k -> $24.8k.

Qrafty ends channeling his inner trader.

Today is WORLD TEACHERS DAY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

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