Transaction Exposure – Local Collectors Post http://www.localcollectorspost.org/ Wed, 21 Sep 2022 19:08:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.localcollectorspost.org/wp-content/uploads/2021/03/locacollectorspost-icon-70x70.png Transaction Exposure – Local Collectors Post http://www.localcollectorspost.org/ 32 32 Stocks fall after Fed decision https://www.localcollectorspost.org/stocks-fall-after-fed-decision/ Wed, 21 Sep 2022 18:55:00 +0000 https://www.localcollectorspost.org/stocks-fall-after-fed-decision/

To understand the thinking of the Fed, it helps to get inside the mind of its chairman, Jay Powell.

In his role as central bank chief, he has made no secret of his admiration for Paul Volcker, whose name is virtually synonymous with fighting inflation at all costs, even if it plunges the economy into a recession, as Volcker’s Fed did it – twice – in the early 1980s.

Powell, in his now notoriously blunt speech in Jackson Hole last month, seemed to fully embody his predecessor when he declared that “we have to keep going until the job is done” – (“that”, being increases in rate and “the job” being It was an explicit reference, like it or not, to the ideology of Volcker, whose 2018 autobiography is titled “Keeping At It.”

During congressional testimony in the spring, Powell said of his hero, “I think he was one of the great civil servants of the day – the greatest economic civil servant of the day.”

Part of the reason Volcker is so well remembered is that it took a shrewd mind and an iron stomach to even confront the problem of runaway inflation and then implement the painful shock therapy of hikes. interest rates that cost millions their jobs. Volcker’s plan worked, but it wasn’t easy. There was indeed some pain, in modern Fed parlance.

Powell faces a similar conundrum. Inflation is the highest since Volcker led the Fed, and the central bank itself is facing a credibility crisis after failing to act quickly enough to contain rising prices.

Credibility was also a big concern for Volcker.

“Volcker’s mantra, one he repeated to me again and again throughout 2008-09, was that in a crisis, the only asset you have is your credibility.” Austan Goolsbeean economist who advised the Obama administration, wrote in 2019 just after Volcker died at age 92.

If Powell continues to dip into Volcker’s playbook, it’s safe to assume that his hawkish leadership is here to stay until inflation comes down to the Fed’s 2% target rate.

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UK investment firm invests $36m in NSW solar market https://www.localcollectorspost.org/uk-investment-firm-invests-36m-in-nsw-solar-market/ Tue, 20 Sep 2022 01:30:07 +0000 https://www.localcollectorspost.org/uk-investment-firm-invests-36m-in-nsw-solar-market/

UK-based investment firm Global Sustainable Energy Opportunities has increased its Australian solar PV portfolio, committing $36m (£21.2m) to acquire three more solar projects with a combined capacity of 15MW.

Global Sustainable Energy Opportunities (GSEO), the renewable energy-focused subsidiary of international investment giant Victory Hill Capital Group, said it had agreed to acquire three large-scale solar projects in New South Wales ( NSW) as part of its wider $95m (£50m) Australian Solar PV and Battery Energy Storage Investment Strategy.

GSEO declined to specify the locations of the three individual 5MW projects, but said they were “fully licensed” and construction of the assets should begin later this year. Commercial operations are expected to be completed in the second quarter of next year.

Output from the three photovoltaic plants is expected to be sold on a merchant basis and through power purchase agreements (PPAs).

GSEO said it is also exploring the possibility of collocating battery energy storage systems with up to two hours of capacity at each site.

“We are keenly aware of how far Australians have come to meet the challenges of tackling climate change, while ensuring that the country benefits from a reliable energy system in which renewable energy generation is fully integrated” , said co-chief investment officer Richard Lum. said in a statement.

GSEO said that as part of the transaction, it will retain exclusivity to acquire two further projects of 5 MW each.

The acquisition follows GSEO’s initial entry into the Australian market last year when, together with its Melbourne-based partner Birdwood Energy, it announced the $25m (£15m) purchase ) of two solar photovoltaic sites in operation, totaling 17 MWdp, in South Australia and Queensland.

GSEO said the installation of a battery energy storage system at one of the original sites has already begun, saying that the co-location of storage capacity is “an essential part of the strategy of investment”.

“The trust is committed to addressing the intermittency issues facing countries such as Australia, in particular the mismatch between when electricity is generated and when it is actually used,” said said the company. “By integrating battery storage energy into solar farms, the problem of intermittency is solved and the imperative to fire coal-fired power plants decreases.”

GSEO said the addition of battery storage capacity at the sites will also allow greater ability to capture positive movements in electricity prices, prevent overexposure to negative electricity prices and enable it to benefit from energy arbitrage opportunities and revenues from frequency services.

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Here’s what you need to know https://www.localcollectorspost.org/heres-what-you-need-to-know/ Wed, 14 Sep 2022 18:00:00 +0000 https://www.localcollectorspost.org/heres-what-you-need-to-know/

Ethereum’s long-awaited transition from proof-of-work (PoW) to proof-of-stake (PoS) is upon us as the merger looms in less than 10 hours. There’s a lot to consider for the broader cryptocurrency space – and here’s what you need to know.

What is Merger?

The Ethereum blockchain will move away from its energy-intensive PoW consensus mechanism as its execution layer merges with the new PoS consensus layer known as Beacon Chain.

The Beacon Chain went live in December 2020, allowing ecosystem participants to deposit or “stake” ETH to become the network’s new validators, replacing PoW miners who previously worked to process transactions , produce blocks and secure the network.

In its simplest form, the merger will cause the Ethereum network to use 99% less energy and provide greater scalability, security, and sustainability.

Ethereum’s mainnet (PoW) and Beacon Chain (PoS) operate simultaneously and will eventually merge – hence the name – ushering in a new era for the smart contract blockchain network. The entire transaction history of Ethereum will be carried over as the new consensus mechanism takes over the network.

Who maintains the network after the merger?

As explained, users able to stake a total of 32 ETH are eligible to become individual validators of the Ethereum Beacon chain. Validators are responsible for producing random blocks and validating transactions and blocks created by other validators on the network.

Users can also participate in pooled or centralized pools by staking smaller amounts of ETH, which promises a share of the rewards for validating and maintaining the network. There are several staking options to consider for those interested in playing a role in the network’s new consensus mechanism.

A recent report from blockchain analytics platform Nansen shows that just over 11% of total ETH in circulation is staked, with 65% liquid and 35% non-liquid. There are a total of 426,000 validators and some 80,000 depositors, while a small group of entities control a significant portion of staked ETH.

Three major cryptocurrency exchanges account for nearly 30% of ETH staked, namely Coinbase, Kraken, and Binance. Lido DAO, the largest merge staking provider, accounts for the most ETH staked with a 31% share, while a fifth group of untagged validators hold 23% of ETH staked.

Could there be forks of the Ethereum blockchain?

As Cointelegraph previously reported, the merger will see ETH, the native currency of the Ethereum ecosystem, remain once the mainnet joins the Beacon Chain. It should be noted that some PoW miners who previously mined blocks and maintained the execution layer have indicated that they will continue to do so.

The PoS-powered Ethereum blockchain will continue to use ETH after the merger, while another hypothetical Ethereum PoW network, dubbed ETHPOW, could break away with the creation of an ETHW token.

This is something that is envisioned by financial service providers who offer exchange-traded products (ETPs) tied to the underlying asset of a given blockchain. If there is investor demand for exposure to a forked PoW chain, some companies may consider doing so.

Any existing ETPs or funds exposed to ETH have nothing to do, as ETH will continue to exist as long as the Beacon chain implements PoS consensus.

Should I do something?

The average Ethereum user and ETH holder need not worry about losing funds or making changes to preferred wallets before the merger. As the entire history of the Ethereum blockchain is taken up in the transition, all funds in the wallets are still accessible and safe.

Most importantly, beware of scams. Cointelegraph has compiled a list of the top three ways malicious actors are trying to tackle the Merge Event. Fraudulent staking pools, upgrade scams and fake airdrops are touted. You do not need to upgrade your wallet or send your ETH to receive new tokens.