Cathedra Bitcoin Announces Leasing of 2.5 MW Bitcoin Mining Plant

TORONTO–(BUSINESS PROPERTY)–(Block Height: 774,581) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Department” or “Company”), a Bitcoin company that develops and operates a world-class bitcoin mining infrastructure, is pleased to announce that the Company has entered into an agreement to lease a 2.5 megawatt bitcoin mining facility in Washington State on January 29, 2023. Under the lease, for an initial 24-month term, the company will make rent payments of $108,000 per month, including all electricity costs.

Pursuant to the lease agreement, the Company obtained the right of first opportunity (“ROFO”) to purchase a 2.5 megawatt facility and several adjacent facilities in the same building with a total of 10 megawatts of bitcoin mining capacity. ROFO ends upon termination or expiration of the lease.

Additionally, on January 29, 2023, the Company entered into an operating agreement with a third-party service provider under which the service provider will operate the Company’s bitcoin mining machines at a leased facility in exchange for 10% of the Company’s gross revenue. Company vehicles in a leased facility. The operational contract lasts for an initial period of 24 months.

The company intends to house the last batch of 773 Bitmain Antminer S19J Pro machines expected by March 2023 in the leased facility. Lease and operating agreements commence on the later of (a) the date on which the Company’s vehicles are delivered. to the leased facility or (b) 14 February 2023.

The company intends to further optimize its fleet of bitcoin mining machines at two leased facilities in Washington state; such optimizations may include moving machines between two facilities to better utilize available capacity and “downsizing” (i.e., reducing energy consumption) certain machines to improve the Company’s operating margins.

After the deployment of these 773 S19J Pro machines, the Company expects diversified bitcoin mining operations to achieve an active hash rate of at least 322 PH/s, which is approximately 30% higher than the current active hash rate of 247 PH/s. The company will announce the hashrate effects of any additional optimizations once they are complete.

The company continues to evaluate the remaining 490 S19J Pro (100 TH/s) and 50 S19 XP (140 TH/s) machines for capital efficiency.

About Cathedra Bitcoin

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.

Cathedra believes that sound money and abundant energy are key components of human progress, and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Cathedra’s diversified bitcoin mining operations total 247 PH/s and span three states and five locations in the US. The company is focused on expanding its hashrate portfolio through site selection and a diversified approach to operations, leveraging multiple power sources in multiple jurisdictions.

For more information about Cathedra, visit cathedra.com or follow Company news on Twitter @CathedraBitcoin or @CathedraBitcoin on Telegram.

Warning statement

Trading in the Company’s securities should be considered highly speculative. No stock exchange, securities commission or other regulatory body has approved or disapproved of the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain “forward-looking information” within the meaning of Canadian securities laws based on expectations, estimates and projections as of the date of this news release. Information about the Company’s future plans and objectives in this release is forward-looking information. Other forward-looking information includes, but is not limited to: senior management’s intentions and future actions, the Company’s intentions, plans and future activities, as well as the Company’s ability to successfully acquire digital currency; currently expected revenue growth; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and digital currency prices and, as a result, a material adverse effect on the Company’s operations; building and operating an expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in relevant jurisdictions.

Any statements that involve predictions, expectations, beliefs, plans, projections, goals, assumptions, discussions of future events or performance (often, but not always, using expressions such as “expects” or “does not expect”, “expects”) , “expects” or “does not expect”, “plans”, “budget”, “planned”, “forecasts”, “estimates”, “believes” or “intends” or changes to such words or expressions or certain actions, events or results “may be” or “could be”, “would be”, “could be” or “will be”) are not statements of historical fact and may be forward-looking information and are intended to be forward-looking statements. – looking for information.

This forward-looking information is based on the reasonable assumptions and estimates of the Company’s management at the time it is made and involves known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to decline. materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no material events outside the normal course of business of the Company have occurred. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results to differ from those expected, estimated or intended. Because actual results and future events may differ materially from those anticipated in such statements, there can be no assurance that such statements will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

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Wall Street analysts are bullish on META, NVDA and FSLR

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Bitcoin Masterclass with Craig Wright, Day 2 Session 3: Privacy is not as easy as you think

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“Who Thinks Privacy Is Easy?”

This is what Bitcoin inventor Dr. is Craig S. Wright’s opening question. This session looks at the current privacy infrastructure based on centralized digital notary certificates and how they can achieve better security in a structure like Bitcoin.

All sessions from Day 2 can be viewed here and full sessions for both days of the Bitcoin Masterclass are on the CoinGeek YouTube channel. Future Bitcoin Masterclass events are planned in other cities.

A few audience members believe that secrecy is easy, although Dr. Wright points to examples of problems that can arise in specific cases. As discussed in previous sessions, there are questions about who can access what information (about themselves or others), for what purpose, when, and how much other information is exposed, including that information. For example, “Is this person old enough to be here?” is to get a simple true/false answer to questions like or “is this person an employee of Company X?” without revealing the actual date of birth or employment date.

Why is Bitcoin better than Certificate Authorities?

“X.509 is bad,” he says, referring to the SSL/TLS X.509 standard digital certificates widely used on today’s Internet to “secure” many websites. These certificates are theoretically issued by trusted Certificate Authorities (CAs) that follow strict guidelines for issuing certificates. There are several types, including Client Authentication and Code Signing.

The problem with this model, as Dr. Wright has pointed out several times in the past, is the issuer’s compromise. This violates every certificate the CA has ever issued, which may have hundreds or thousands of owners, causing widespread security breaches before action is taken. He once again recalls the case of the well-known Dutch CA DigiNotar, which was founded in 1998 and went bankrupt in 2011 a few weeks after being compromised. The compromise affected well-known names such as Yahoo!, Mozilla, Tor Project and WordPress.

Bitcoin, the blockchain structure and data tokenization allow access to more data than existing systems. Their processes also allow for faster detection of breaches and attempted attacks, prompting administrators to alert them to these incidents and enable them to take prompt action. Blockchain logs also keep a complete, verifiable record of all events.

Can you delete data from a blockchain?

“Can anyone tell me what section 7 of the (Bitcoin) white paper is about?” Dr. Wright asks. Note that this is the “recovery of disk space” section, which, as it reminds everyone, is also about “Pruning a Merkle Tree” and is about “erasing” data like records on a blockchain according to erasure laws. EU General Data Protection Regulation (GDPR).

If we transfer something from the Bitcoin UTXO and transfer it to a new value, then miners can stop producing blocks containing this data.

What type of information can be specified for pruning in our identity hierarchy? First, other people’s information and your own information if it is outdated, embarrassing or unnecessary.

So we can create something like X.509, which is better than X.509 and without some of its problems? How would it handle things like certificate revocation?

With Bitcoin and the blockchain, we can build structures to create provable ownership of data, primary identity keys and multiple “sub-keys,” multi-signal access to data, even pseudonymous investments that remain legally compliant (as long as the proper authorities exist) to identify the true identity behind the pseudonym. no one needs to know except the one who knows).

We can structure the identity of the “false person” with his (real-life) stockholders/option holders and office holders and their complete chain of custody records (as today’s companies are considered by law). What information should we enter and where should we go? Dr. Wright asks the audience.

With Bitcoin, information and legal structures can be transparent and open, while confidential and private information remains hidden or accessible only to relevant parties. There is food for thought at both the technical/coding level and the policy level. If you’re interested in this topic and want to hear more, the Bitcoin Masterclass series is a great place to start.

Check out Blockchain Masterclass with Craig Wright: Privacy, Privacy, Anonymity, Party-to-Party

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New to Bitcoin? Check out CoinGeek Bitcoin for beginners The section is the ultimate resource guide for learning more about Bitcoin and blockchain as envisioned by Satoshi Nakamoto.

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2 Reasons Meta Shares Are Up 20% After Missing Big Profits

In this market, the last thing investors are rewarding this earnings season is a miss against expectations of any magnitude.

Unless you’re META.

Shares of the social media giant exploded nearly 20% in premarket trading Thursday after missing earnings. The company had the most visited ticker page on Yahoo Finance.

Here’s how Meta performed against Wall Street estimates – at first glance, it was far from rosy and deserved a big boost in the company’s market price.

Q4 Income – Actual $32.17 billion vs $31.65 billion expected
Advertising Revenue – Actual $31.25 billion vs $30.86 billion expected
Adjusted earnings per share (EPS) – Actual $1.76 vs $2.26 expected
Facebook Daily Active Users (DAUs) – 2 billion actual versus 1.98 billion expected
Family of Apps Daily Active Users (DAU) – 2.96 billion actual vs. 2.92 billion expected
Reality Labs operating loss – -Actual $4.28 billion vs. $3.99 billion

Investors have long loved Meta for its ability to print money, but are unhappy with the name amid slowing sales and new restructuring efforts in 2022. But they may now be willing to overlook quarterly shortfalls (see revenue weakness and Reality Labs losses) in light of better earnings signs ahead.

This better earnings trajectory could come from two areas, both of which Meta executives called their earnings late Wednesday (shocker!).

The first is a new appreciation for managing a business with productivity in mind.

Meta laid off 11,000 workers (13% of its workforce) last November amid pressure from major investors to boost margins. Some of these cuts go as deep as canned cafeteria workers (see tweet below). CEO Mark Zuckerberg says the company is just beginning its cost-cutting journey, which makes Meta bulls happy.

“We closed last year with some tough layoffs and restructuring some teams, and when we did that, I made it clear that this is the beginning, not the end, of our focus on efficiency,” Zuckerberg told analysts on the call.

Zuckerberg added that “efficiency” is one of his key themes for 2023, along with harnessing the new artificial intelligence movement. When did he choose efficiency over innovation? Never and the Street likes it.

The company then began cutting costs and capital expenditures by $5 billion and $4 billion, respectively, for the year.

Zuckerberg’s change in tone has not gone unnoticed on Wall Street, which has long been eager to reconnect with the stock market.

“While a cut in cost guidance was expected, the magnitude of the change was a positive surprise,” Jefferies analyst and Meta bull Brent Thill said in a client note.

Meta Platforms CEO Mark Zuckerberg leaves federal court after appearing in the Facebook parent company’s defense of its acquisition of virtual reality software developer Within Inc. on December 20, 2022 in San Jose, California, U.S. . REUTERS/Laure Andrillon

While Meta’s profits will get a jolt from cost-cutting, the company’s share buyback could be another boost from material growth. Stock buybacks tend to reduce shares outstanding, helping to increase earnings per share.

Meta has issued a new share repurchase authorization of $40 billion, giving it a total capacity of $50 billion.

“A $40 billion increase in share repurchase authorization provides additional EPS support,” Thill said.

We don’t suggest other companies go the Meta route and miss out on earnings estimates. But if you can come to the table with success in cutting costs now and promises of more – and have money to throw at buybacks – then a Meta-like reaction in the market can happen even if profits come. in the light.

Again, this game is not for everyone.

Yahoo Finance Alexandra Garfinkle contributed to this story.

Brian Sozzi is a senior editor and Host at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and continues LinkedIn.

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How to Get a Stronger Wi-Fi Connection in Your Apartment

You’ve had the joy of having a neighbor who loves to explode downstairs Taylor Swift at deafeningly high decibels? Or maybe it warms your heart when you think of a family upstairs that refused to keep them 5 years old from running from room to room incessantly while wearing tap shoes? Well, maybe he wasn’t wearing shoes. But you get the picture. ah apartment living.

Then, there’s the disappointment work from home while dealing with spotted Wi-Fi. You know the pain points: Your audio lags during Zoom meetings, you can’t download that YouTube video, and Netflix keeps freezing. To make matters worse, your roommate has no problems in his room, but you struggle to communicate.

Shopping for faster internet speed?

We’ll send you the fastest internet options so you don’t have to find them.

When it comes to getting a clear Wi-Fi signal, apartments are protected from multiple devices, heavy beams, metal obstacles, and more many devices it also requires air space. It can make you feel powerless. But there are a few steps you can take to improve your signal and get a better Wi-Fi connection in your apartment.

Oh, one more thing. All things being equal, your first step should be to investigate whether you have options to use differently internet service provider. However, when it comes to living in an apartment, you often don’t have a choice about your ISP. Many apartment complexes have apartment contracts with specific ISPs, even if there are several providers available in your areaYou may be connected to a rental for a stay that you have.

Okay, enough of that introduction. Let’s jump into it.

Protect your Wi-Fi signal

Keystrokes to your network security It’s an important first step no matter where you live, but it’s especially important if you rent your apartment and use the equipment that comes with the place. You can start by changing your router’s network name and password. If you are using a device provided by your ISP, you should be able to use their software to change the information very easily.

From your ISP’s software (or you have your own router), you can easily access your router settings to change your Wi-Fi password. It doesn’t need to be intimidating, and my colleague Ry Crist does a great job of breaking it down for you and keeping it simple. However, when it comes to your new password, make sure it’s simple. Yes, it’s tempting to keep it simple so it’s easy to remember, but you want to make it harder for others to crack (and use a password manager to remember).

Go channel surfing

Your router uses two bands — 2.4GHz and 5GHz — and each of these bands has channels to send and receive your Wi-Fi signal. Your Wi-Fi problems may be caused by using the same channel as many of your neighbors. So you’re all clogging the same lanes.

The solution is to ditch that crowded channel and find one with a little less traffic. There are 11 available channels in the 2.4GHz band and 24 available in the 5GHz band. Use your router’s Wi-Fi utilities (either via software or the web) to scan for the least used channel available and set your router to that channel.

When doing this, it’s a good idea to use a internet speed test Comparing how Wi-Fi works on different channels. In fact, it’s a good idea to run a speed test before changing any settings. That way, you get an initial idea of how Wi-Fi works, and then you can see how these new channels compare.

Ideally, you don’t want to do this channel check daily, but if it’s effective in solving your problems, you can rely on it when you run into trouble.

Move your router

Sometimes the simplest solution is the best solution. Maybe the reason for your shaky Wi-Fi poor placement of your router. Is it hidden in the bookcase? Is it next to or blocked by a large piece of furniture or appliance? Try giving your router some space. While you may be tempted to tuck it away for aesthetic reasons, you may inadvertently be interfering with your router’s ability to send a clear signal.

Speaking of location, location, location: Don’t put your router in your kitchen. Not only will your router struggle with the signal around all the big metal devices, but microwaves in particular will also interfere with the router. The two operate on similar frequencies, so your Wi-Fi connection will be disrupted if you are near a microwave oven. Finally, all of these important things aside, you’ll want to avoid the kitchen area, so you’ll reduce the chance of coffee, water, spills, and other food debris ruining your router.

Also, remember the scenario I mentioned above where your roommate gets good Wi-Fi and you’re left with scraps? They are likely to be closer to the router than you are. Try to move the router more to the center of the apartment. Not only is there a fairer distribution of the Wi-Fi wealth, but in theory, your router should also perform better.

Finally, keep it away from other high-demand Wi-Fi devices like yours smart tv or Game station. Again, having all these devices close together will interfere with your router’s functionality.

Buy a Wi-Fi extender

Can’t move your router? This is not unusual in apartments. Your equipment is often fixed in place with wires. But all is not lost in this scenario. you can apply to Wi-Fi extender. It doesn’t have to be a huge investment or commitment—decent options can range from $30 to $100—but it can pay big dividends in improving your Wi-Fi signal.

Depending on the size of your location, you may only need one Wi-Fi extender. Be sure to place it in the “dead spot” of your apartment and see if you can bring that area to connected life. One thing to note: Getting a Wi-Fi extender doesn’t mean you have to skip the previous steps. For example, you still want to research the best channel to use. If you and everyone else in the building are on channel 11 or 144, you’ll likely have problems, even if you use a Wi-Fi extender.

Invest in a mesh system

Have high streaming or gaming demands and outgrown the router your ISP gave you for “free”? If all else fails, or you live in a larger apartment, you may need to explore a more expensive but still affordable option. Invest in good quality mesh router.

This option gives you range extender satellites that can help extend your signal beyond 100 feet. If you want to integrate your router with your computer smart homelook for ones that work specifically with your devices (Google, Alexa, HomeKit, etc.).

Worth considering when considering your purchase: If you envision your apartment as a temporary living arrangement, buy the system. Wi-Fi 6 and other forward thinking abilities. For example, you may want to prioritize the router’s ability to handle multi-gigabit speeds. Or make sure you can add more satellites to your system if the size of your home or the number of devices you have increases.

One last word

Maybe I should have started with this, but I’ll go ahead and finish with this. If you’re having problems with your Wi-Fi router in your apartment, and you’re experiencing much lower speeds than your ISP promises, I have to ask: Have you tried restarting it? I know. I don’t like hearing this question either. Makes me feel like an idiot. But sometimes it can be that simple. Just try restarting your router. But if that doesn’t work, now you have a roadmap of other options to try.

Get Stronger Wi-Fi in Your Apartment Frequently Asked Questions

Will my Wi-Fi speed always be bad because I live in an apartment?

Not necessarily. Of course, living in an apartment means you’ll have problems with your Wi-Fi connection. Namely, the proximity of other neighbors and the potential interference of all their devices and signals. But that doesn’t mean you have bad Wi-Fi. This means you may have to work a little to optimize your Wi-Fi experience.

Is there a way to upgrade my apartment’s Wi-Fi network?

Yes. Perhaps the fastest way to upgrade your Wi-Fi is to get a faster speed plan from your ISP. However, this may not be financially feasible for many. So the next best option is to try moving your router to a more central location in your apartment. This should provide better Wi-Fi to more areas of your location. But if this fails, you can try to buy a Wi-Fi extender to extend your Wi-Fi connection in the apartment.

Can I get free Wi-Fi in my apartment?

It depends. Although some apartment complexes advertise “free Wi-Fi,” this usually means that there is free Wi-Fi in common areas such as lobbies, gyms, and clubhouses. This usually does not apply to your apartment. However, if you qualify for the government’s Affordable Connection Program, which is designed to help low-income families get high-speed internet, you can actually get free internet, plus free Wi-Fi.

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Advantages of Bitcoin Casino in Australia – CryptoMode

Over the past few years, Bitcoin casinos have taken a strong position in the Australian market. Bettors can use decentralized cryptocurrency to fund their accounts, place bets and withdraw winnings. So why choose it over a more conventional option?

The benefits of hiring them in Australia are the focus of this article. There are significant advantages to playing at these casinos, including the convenience of instant and cheap transactions and added privacy and security. They offer a wider variety of games and more incentives, both of which are great for patrons.

These platforms have the same features and functions as regular platforms and have the added benefits of using Bitcoin. This means you can ditch slots, blackjack, roulette, etc. in favor of the virtual space. You don’t have to give up the ease and security of playing your favorite casino games.

Overall, they offer a fresh and exciting alternative to traditional online gambling. Whether you are a seasoned gambler or a new player, there has never been a better time to try out a Bitcoin casino. With user-friendliness and robust security measures, you can enjoy yourself safely without worrying about your personal information being stolen.

Complete Anonymity and Security

The anonymity and protection offered by BTC casinos in Australia are two of the biggest appeals for locals. By making Bitcoin transactions, you can avoid revealing your personal information to the site. Therefore, it is less likely that it will misuse your data or that hackers will be able to steal it.

This system not only provides anonymity, but also provides a high level of protection for your financial transactions. Instead of a typical centralized server, they use blockchain, an immutable digital ledger, to process transactions. This makes it extremely difficult for fraud to occur because a completed transaction cannot be reversed. Titles offered by Bitcoin casinos have the added benefit of being fair and easily verifiable. Of course, transparent systems are used by them, which allows players to check the fairness of the games themselves.

No problem with payment

A big advantage of using a Bitcoin casino in Australia is the ease and security of making payments. Unlike regular credit or debit cards, there are no issues with declined payments or long processing times. Because Bitcoin transactions are completed quickly, participants are sanctioned almost immediately.

Its autonomous design also makes it impossible for its users’ personal financial information to be stolen, further strengthening the cryptocurrency’s security as a reliable means of payment. BTC also gives more freedom when it comes to limits on deposits and withdrawals. Bitcoin transactions are not subject to the restrictions imposed by conventional payment systems and offer players more financial freedom. Additionally, Australian Bitcoin casinos have an anonymous play option that keeps the player’s personal information private.

Operating Speed

Bitcoin transactions are processed on an autonomous network. This means they are not subject to the same delays and restrictions as conventional banking methods. This makes it faster and more convenient to play at a Bitcoin casino, allowing you to make deposits and withdrawals in the near future. Selected are known for fast and efficient transaction processing. The result is that players can deposit and withdraw their funds quickly and easily without waiting for eons.

Compared to traditional gambling platforms, they offer faster transaction speeds. This is because BTC deposits and withdrawals are processed on the blockchain. This rate is much faster than what can be achieved in the traditional banking sphere. There is also a faster speed of the withdrawal process as there is no need for gaming sites to verify the player’s identity. Blockchain stores all records of the transaction.

Increasing Your Chances of Winning

Australians are flocking to Bitcoin casinos mainly because of the increasing payout percentages. The returns there are usually higher than traditional gambling platforms. They also provide the player with high profit percentages as well as a variety of games to suit the preferences of any participant.

Undoubtedly, fair mechanisms are only one way Bitcoin casinos can increase their customers’ chances of winning. The use of this technology will help maintain a fair playing field by allowing players to check the results of each game. Punters can therefore rest assured that they have the same chance of winning as anyone else on the platform.

Australian players have a number of advantages that can increase their winning potential when playing at Bitcoin casinos. So if you’re looking to improve your earning potential, this could be a good option.

Operation Is Free Or Very Cheap

Bitcoin’s low or zero transaction costs are a major advantage for Australian gamblers looking to use the cryptocurrency. Deposit and withdrawal fees at traditional online casinos can significantly reduce a player’s take home.

Unlike more traditional methods, Bitcoin transactions are calculated based on the volume of data sent. This means that the fee will increase in proportion to the size of the transaction, but the cost will be much lower than with more traditional methods, even for very large amounts. In addition, some Bitcoin wallets may charge more for prioritization and faster confirmation of the transaction.

Moreover, certain gambling establishments allow free transfers, thus reducing the financial burden on players. High-stakes gamblers who deposit and withdraw significant amounts can take advantage of this feature. Participants can keep more of their winnings and don’t have to worry about overspending when using at an Australian casino due to the low-cost or free transaction fees associated with Bitcoin.

Independence

The freedom given to Australian players using Bitcoin casinos is one of the advantages you want to keep. With this, players are not limited to their location as transactions are done through a decentralized digital currency. As a result, Australian participants will have unlimited access to a wider selection of games and promotions, as well as the opportunity to play with participants from around the world.

Moreover, since Bitcoin casinos are exempt from the same regulations as regular gaming platforms, bettors can use them with greater anonymity and protection. To further protect users on its platform, all transactions are conducted privately and are therefore not subject to the same level of regulation now applied to more formal financial transactions. In short, Bitcoin casinos offer players in Australia the option to play their preferred games, wherever they like and how they like, without any limits or restrictions.

Summary

In conclusion, using Bitcoin in online casinos has resulted in various advantages for players living in Australia. These include the ability to process transactions faster and at lower cost, have better privacy and security, and maintain access to a wider variety of gambling platforms.

Since BTC is a decentralized digital currency, users don’t have to worry about being subject to the same strict laws and restrictions that regular gaming sites may face. It is likely that we will see an increase in the number of Bitcoin casinos in Australia as many players start using it as their preferred payment method. This will result in providing more alternatives to participants on these gambling platforms.

None of the information on this website is investment or financial advice and does not reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses incurred by its authors or customers acting on the information provided on this website. Always do your research before making a financial commitment, especially with third-party reviews, pre-sales and other opportunities.

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ChatGPT can help with business tasks, but supervision is still needed

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If ChatGPT, the buzzy new chatbot from Open AI, wrote this story, it would say:

“As companies look to streamline their operations and increase productivity, many are turning to AI tools like ChatGPT to help their employees complete tasks. But can employees really rely on these AI applications to take on more and more responsibility, or will they ultimately fall short of expectations?”

Not great, but not bad, right?

Employees experiment with ChatGPT for tasks like writing emails, developing code, or even completing a year-end review. The bot uses data from the internet, books and Wikipedia to produce spoken responses. But the technology is not perfect. Our tests found that it sometimes offers answers that are potentially plagiarized, contradict themselves, are factually incorrect, or have grammatical errors, to name a few—all of which can cause problems at work.

Jacob Andreas, an assistant professor of natural language processing at MIT’s Computer Science and Artificial Intelligence Laboratory, says ChatGPT is basically a predictive text system, similar but better than the systems built into text messaging apps on your phone. While this often produces answers that sound good, the content can have some problems, he said.

“If you look at some of these really long essays created by ChatGPT, it’s very easy to see where he contradicts himself,” he said. “When you ask it to generate code, it’s mostly correct, but there are often errors.”

We wanted to know how well ChatGPT could handle everyday office tasks. Here’s what we found after testing across five categories.

We have invited ChatGPT to respond to several different types of incoming messages.

For the most part, the AI provided relatively appropriate answers, although most were wordy. For example, when I responded to a colleague on Slack asking how my day was, it would repeat: “@[Colleague], Thank you for asking! I’m having a good day, thank you for your interest.”

The bot often left parenthetical statements when unsure of what or who it was referring to. It also included details that were not included in the survey, which led to some factually incorrect statements about my work.

In one case, he said he was unable to complete a task, saying he “didn’t have the ability to receive and respond to emails.” But when prompted with a more general query, he responded.

Surprisingly, ChatGPT was able to muster sarcasm when asked to respond to a colleague who asked if Big Tech was doing well.

One way humans can use generative AI is to come up with new ideas. But experts warn that people should be careful if they use ChatGPT for this at work.

“We don’t understand how plagiarized it is,” Andreas said.

When I pushed ChatGPT to develop story ideas for my shot, the possibility of plagiarism was clear. One pitch in particular was for a story idea and angle I had already covered. While it’s unclear whether the chatbot picked up an idea from my previous stories, others liked it, or simply based on other information on the web, the fact remained: The idea was not new.

“It’s good at sounding human, but the actual content and ideas are public,” says Hatim Rahman, an associate professor at Northwestern University’s Kellogg School of Management who studies the impact of artificial intelligence on business. “They are not new ideas.”

Another idea that explored a story that would be factually incorrect today was outdated. ChatGPT says it has “limited knowledge” of anything after 2021.

Providing more detail in the letter led to more focused ideas. However, when I asked ChatGPT to write some “quirky” or “fun” headlines, the results were terrible and some nonsense.

Navigating difficult conversations

Have you ever had a co-worker who talked too loudly while you were trying to work? Maybe your boss has too many meetings, cutting into your focus time?

We’ve tested ChatGPT to see if it can help navigate sticky workplaces like this one. For the most part, ChatGPT has developed relevant answers that can be a great starting point for employees. However, they were often a bit wordy, formal and in one case downright contradictory.

“These models don’t understand anything,” Rahman said. “The underlying technology looks at statistical correlations. . . . So it will give you formal answers.”

A layoff memo he produces can easily stand up, and in some cases, works better than the notices companies have sent out in recent years. Unsolicited, the bot cited “the current economic climate and the impact of the pandemic” as the reason for the layoffs, and said the company understands “how difficult this news can be for everyone.” He suggested that the laid-off employees would have support and resources and motivated the team by saying that they would “come out of this stronger” as required.

During tough conversations with colleagues, the bot greeted them, gently approached the issue and softened the delivery by saying “I understand” the person’s intent and ended the note with a request for feedback or further discussion.

But on one occasion, when asked to tell a colleague to keep his voice down on phone calls, he completely misunderstood the order.

We also tested whether ChatGPT could generate team updates if we provided key points to report.

Our initial tests again yielded appropriate responses, although they were formal and somewhat monotonous. However, when we set an “excited” tone, the word became more random and included exclamation points. But each memo sounded very similar even after being changed desire

“It’s both the structure of the sentence and more the connection of ideas,” Rahman said. “It’s very logical and formulaic … like a high school essay.”

As before, he made assumptions without proper information. The problem was when he didn’t know what pronouns to use for my co-worker – it could indicate to my co-workers that I either didn’t write a memo or that I didn’t know my team members very well.

Writing self-evaluation reports at the end of the year can cause fear and anxiety for some, resulting in a short-sighted view of themselves.

Feeding ChatGPT’s clear accomplishments, including key data points, made me feel sympathetic about it. The first attempt was problematic because the initial survey asked for a self-assessment for “Danielle Abril” and not for “me.” This led to a third-person commentary that sounded like it came from Sesame Street’s Elmo.

Changing the desire to ask to be reviewed for “me” and “my” accomplishments led to compliments such as “I have consistently demonstrated a strong ability,” “I am always willing to go the extra mile,” “I have been a presence.” team” and “I’m proud of my contributions.” There’s also a hint of the future: “I’m sure I’ll continue to make valuable contributions.”

Some points were a bit generic, but overall it was a brilliant review that could have served as a good rubric. When asked to write cover letters, the bot produced similar results. However, ChatGPT had one major quirk: It got my workplace wrong.

So, was ChatGPT useful for common work tasks?

This helped, but sometimes his mistakes caused more work than doing the task manually.

ChatGPT served as a great starting point, providing useful words and initial ideas in most cases. But he also gave answers with errors, factually incorrect information, excessive verbiage, plagiarism, and miscommunication.

“I can see it being useful … but only as long as the user is willing to check the output,” Andreas said. “It’s not good enough to derail it and email your colleagues.”

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A theory on how internet platforms are dying

According to a recent essay by author and internet activist Cory Doctorow, many of the biggest tech platforms, from Amazon to Facebook, follow a similar model of transformation.

First, he says, these platforms sue users for artificially low prices of products or interesting ways to connect with friends.

Then, they hook vendors like advertisers or third-party retailers with promises of reaching a captive audience.

Ultimately, Doctorow says, as companies try to maximize their profits, they’re destroying the experience on their platforms through a process he describes as a four-letter word we can’t broadcast or publish.

Below is an edited transcript of a conversation between Doctorow and Marketplace’s Meghan McCarty Carino about how internet platforms are dying.

Cory Doctorow: As business customers flock to the platform, the number of places you can buy things off-platform is starting to dwindle. Media companies start to become Facebook first or YouTube first, sellers close their brick-and-mortar marketplaces in favor of Amazon or are forced to go out of business. And once these business customers are also locked in, platform owners can start collecting the surplus for themselves when users are so used to buying their content or heavy goods or services from our platform that they have nowhere else to go.

Meghan McCarty Carino: Although people complain about them incessantly, I think it’s hard to argue that they’re dead. People still use them.

Doctorov: These firms see [an] we’ve moved to smaller platforms, you know it’s still peripheral, but a lot of growth in what’s called fediverse with Mastodon and other decentralized services. You know, there’s a way of thinking about people still being on these platforms that you can call it an obvious advantage. And if you’re still paying, you can tell [Amazon] Prime, then you have to like Prime even if you complain that you think Amazon is a bad company. But if all the merchants in your community have closed and you’re still using Prime, is that an obvious advantage? Or is it locked?

McCarty Carino: What, if anything, can be done to improve this?

Doctorov: So I think, you know, we have a lot of policy direction these days to make these platforms better. But I’d like to see more focus on making them less destructive when they give in to their worst impulses, right? If you were able to leave a platform like Twitter or Facebook, but continue to message people who haven’t left yet, then you can still go and connect with the people who matter. You. As the platform drops, you know you won’t get stuck on it. And then when it finally explodes, your community won’t be scattered to the four winds. You would actually re-weave it over a number of other, smaller services. We could also make a rule that telling someone they subscribe to a feed and then not showing them the stuff in that feed is an unfair and deceptive practice. The [Federal Trade Commission] has broad authority under Section 5 of the FTC Act to police unfair and deceptive practices. If I say to you, “Show me everything on this tape,” and you say, “Yeah, I’ll do that,” and then you don’t do it, I’m having a hard time understanding how. it is not unfair and deceptive.

Doctorow’s full essay can be found on his personal blog here . He explains in more detail how this cycle is happening at specific companies, such as advertisers suing Facebook for inflating video sizes. Facebook settled the case for $40 million.

And Doctorow cites recent reports from Forbes about how TikTok could be headed down a similar path.

Based on internal documents and communications, as well as interviews with several employees of TikTok and its parent company ByteDance, Forbes reported that the video platform strategically boosts certain content in a way the company calls heat.

The practice can give creators the wrong idea of how profitable it is to post on TikTok, diminishing the relevance of TikTok’s biggest selling point, the For You feed.

TikTok told Forbes that it promotes certain videos to “diversify the content experience and introduce celebrities and emerging creators to the TikTok community.”

Finally, The Washington Post ran a piece last year that demonstrated how the Amazon shopping experience has changed, using the example of searching for cat beds.

The piece highlights how many sponsored listings Amazon displays, which make up more than half of the first page. One of them was for a dog bed, something completely different.

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Cathedra Bitcoin Announces Leasing of 2.5 MW Bitcoin Mining Plant

TORONTO, February 02, 2023–(BUSINESS WIRE)–(Block Height: 774,581) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Department“or”Company“), a Bitcoin company that develops and operates a world-class bitcoin mining infrastructure, is pleased to announce that the Company has entered into an agreement to lease a 2.5 megawatt bitcoin mining facility in Washington State on January 29, 2023. The lease is for an initial 24-month term. The company will make rent payments of $108,000 per month, including all electricity costs.

Pursuant to the lease, the Company obtained the right of first opportunity (“ROFO”) to purchase a 2.5 megawatt facility and several adjacent facilities in the same building with a total of 10 megawatts of bitcoin mining capacity. ROFO ends upon termination or expiration of the lease.

The company continues to evaluate the remaining 490 S19J Pro (100 TH/s) and 50 S19 XP (140 TH/s) machines for capital efficiency.

About Cathedra Bitcoin

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.

For more information about Cathedra, visit cathedra.com or follow Company news on Twitter @CathedraBitcoin or @CathedraBitcoin on Telegram.

Warning statement

Forward-Looking Statements

See the source version at businesswire.com: https://www.businesswire.com/news/home/20230202005417/en/

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Media and Investor Relations Inquiries

Sean Ty
Chief Financial Officer
ir@cathedra.com

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Tech Futures Rise on Meta Spike After ‘Encouraging’ Fed Rally; Apple, Amazon, Google Earnings Next

Dow Jones futures fell modestly on Thursday, S&P 500 futures and especially Nasdaq futures rose with parent company Facebook Meta platforms (META) rose on its earnings report. It followed a big day for the stock market rally as investors cheered comments from Fed chief Jerome Powell.

Mother of Apple, Amazon and Google Alphabet (GOOGL) is clicked.

Major indexes rose again on Wednesday, rising after the long-awaited Fed meeting and especially Fed chief Powell. The Federal Reserve raised rates by a quarter point and said it still sees “continued hikes” ahead. Powell backed that up, but said it was “a good thing” and “encouraging” that inflation was falling even without labor markets weakening.

Wednesday’s market rally mostly cleared key levels, with many stocks out or giving other buy signals, including the Chinese search and AI giant. Baidu (BIDU), a chip-gear manufacturer Lam Research (LRCX), a maker of network monitoring software Dynatrace (DT), Delta Airlines (DAL) and more.

Basic Earnings

Meta Platforms’ gains were short-lived, but revenue, sales guidance and Facebook user views overlapped. It also announced a $40 billion share buyback. The parent of Facebook and Instagram cut its forecast for expenses, including capital expenditures. META shares rose 19% after hours. Shares rose 2.8% to 153.12 in Wednesday’s session, clawing back the 200-day line for the first time in more than a year and retracting weak earnings guidance. Snap (SNAP).

Gorvo (QRVO) beat its fiscal 3rd quarter earnings. However, like many other chip stocks, Qorvo fell sharply for the current quarter. Shares of QRVO fell 3% in extended trading. Shares of the 5G and Apple iPhone chipmaker rose 4.5% to 113.53 on Wednesday.

ELF Beauty ( ELF ) crushed earnings views and comfortably beat revenue. EPS doubled, growth accelerated in the third quarter. Sales increased 49%, accelerating for the fourth quarter in a row. The cosmetics manufacturer also took the lead. ELF shares surged 16% to a record high overnight. Shares rose 1.8% to 58.58 on Wednesday, just off a record high set on Jan. 6.

early Thursday, Merck ( MRK ) modestly beat Q4 views, but guided downwards in 2023 EPS. Eli Lilly ( LLY ) beat earnings views but missed sales, but rose slightly in 2023 EPS. Bristol Myers Squibb (BMY) beat. MRK shares fell sharply. LLY shares declined modestly. BMY rose slightly.

Big pharma, which performed well in the bear market of 2022, is lagging behind today, leading to growth in the 2023 market rally. LLY shares are below their 50-day moving averages, Merck and Bristol Myers.

late Thursday apple (AAPL), Amazon.com (AMZN) and Google report. All recover in 2023, but below the 200-day line. GOOGL shares and Amazon rose more than 4% overnight in favor of the Meta.

Join IBD’s experts as they analyze the stocks that made the most of the stock rally on IBD Live

Dow Jones Futures today

Dow Jones futures were down 0.4% at fair value, MRK shares and Honeywell (HON) acts as drag. S&P 500 futures rose 0.4%. Nasdaq 100 futures rose 1.25%, led by META shares, along with shares of Google and AMZN. Tesla (TSLA) was also helped by gains in Blackstone, which disclosed a large TSLA stake.

Meanwhile, the Bank of England raised rates by 50 basis points on Thursday morning. The European Central Bank is also expected to do so before the US markets open.

Remember that an overnight move in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular trading session.

The Fed’s rate hike continues

As expected, the Fed raised interest rates by a quarter point on Tuesday, raising the Fed funds rate to 4.5% to 4.75%. That follows the Fed’s half-point rate hike in December and four straight 75-basis-point moves before that.

The Fed’s policy statement said policymakers still expect “continued increases” in the Fed funds rate, a clear signal that the Fed’s rate hikes are far from over.

“Good thing” from Fed Chair Powell

Fed chief Jerome Powell backed that up, saying “there’s more work to be done” and then saying “we’re talking about a few more rate hikes.” He added that labor markets remain “extremely tight”.

However, Powell also said that “the process of disinflation has begun.” He noted that inflation had come down even before business conditions eased significantly, saying that was “a good thing” and “encouraging”. He also said that politicians “do not have the desire or desire to become too strict”.

The statement sparked a rally in the afternoon.

On Wednesday morning, the Labor Department reported that job creation reached 11.01 million, well above views. The January job report is available on Friday. But Powell’s comments suggest that markets may not be as fixated on labor data as they have been.

The market overwhelmingly expects another quarter-point rate hike by the Fed at the end of March, with odds rising slightly to 86% on Wednesday.

But despite Powell’s support for “a few more” hikes, investors are still leaning toward a culmination of the Fed’s rate hike in March. That would leave the Fed funds rate at 4.75%-5%, below the Fed’s forecast of 5%-5.25%.

SPECIAL REPORT: Best Online Brokers 2023

Stock market rally Wednesday

Stocks rallied modestly ahead of the Fed news, but rallied as Fed chief Powell spoke.

The Dow Jones Industrial Average was slightly higher in stock trading on Wednesday, but after falling more than 1% on the day before the Fed’s announcement. The S&P 500 rose just over 1%. The Nasdaq composite rose 2%. The small-cap Russell 2000 gained 1.5%.

U.S. crude oil prices fell 3.1% to $76.41 a barrel as domestic crude inventories rose for a sixth week. Natural gas prices fell 8%, continuing their epic slide. Copper futures fell 2.8%, settling ahead of the Fed’s rate hike announcement.

The 10-year Treasury yield fell 13 basis points to 3.4%. The two-year Treasury yield, which is more closely tied to Fed policy, fell 10 basis points to 4.11%. This is significantly lower than the current federal funds rate.

The US dollar has fallen to an eight-month low.

ETFs

Among rising ETFs, the Innovator IBD 50 ETF ( FFTY ) rose 1.5%. The iShares Expanded Tech-Software Sector ETF ( IGV ) rose 2.85%. VanEck Vectors Semiconductor ETF (SMH) rose 4.7%. Lam Research and AMAT shares are major SMH holdings, with QRVO also a component.

Reflecting more speculative story stocks, the ARK Innovation ETF ( ARKK ) sprinted 4.4%, while the ARK Genomics ETF ( ARKG ) gained 2.4%.

SPDR S&P Metals & Mining ETF (XME) 1.8% and Global X US Infrastructure Development ETF (PAVE) 1.5%. The US Global Jets ETF (JETS) rose 1%, with DAL shares a key component. The SPDR S&P Homebuilders ETF ( XHB ) gained 2%. The Energy Select SPDR ETF (XLE) sank 2% and the Financial Select SPDR ETF (XLF) was flat. The Healthcare Select Sector SPDR Fund ( XLV ) rose 0.5%.

Five Best China Stocks to Watch Now

Market rally analysis

Major indexes continued to build momentum with big gains after Fed Chair Powell began speaking.

The Nasdaq appears firmly above its 200-day moving average and late 2022 highs. The Russell 2000 has clearly cleared this level.

The S&P 500 also broke its 200-day line. The benchmark index also broke December highs.

Now the trailing Dow Jones tested its 200-day line before paring a slim gain.

Remember that the market often reacts to Fed meetings on the second day.

Meanwhile, the rest of the week remains packed with news. Big gains Thursday night for Apple, Amazon, Google, Qualcomm (QCOM), Ford Motor (F) and more with Friday’s January jobs report.

Over the past few weeks, the S&P 500’s biggest daily winners and losers have been dominated by earnings movers.

DT shares, OI Glass (OI), Stryker (SYK) and Atkore (ATKR) broke out of an earnings base on Wednesday.

But there was plenty of good action without earnings on Wednesday, especially after Fed Chair Powell’s remarks.

LRCX stock and other equipment giant Applied materials (AMAT) came out of bottom bases, DAL reserve and JB Hunt Transport Services (JBHT) and Performance Food Group (PFGC) cleared the traditional points of purchase. BIDU shares also crashed.

Arista Networks (ANET), Clean Storage (PSTG) and Global Foundries (GFS) cleared all early entries on Wednesday. However, Meta Platforms’ reduced capital plans could hurt Arista and Pure Storage. ANET shares fell slightly after a few hours.

Market Timing with IBD’s ETF Market Strategy

What to do now

The stock market rally continues to strengthen higher with Nasdaq, Russell 2000 and leading stocks. While there is increasing clarity on the central bank’s endgame, the Fed meeting is off track.

There is growing evidence that the current market rally will be a sustained uptrend.

Thus, investors could add new positions on Wednesday, taking advantage of the fresh crop of buying opportunities. It is still wise to do this gradually without buying for a long time or concentrating too much. If this market rally has legs, the steadily increasing exposure can quickly get you fully invested or out. If this market rally stumbles, even briefly, you won’t get caught. With Apple and Google earnings coming up in 2023 and the Nasdaq performing so quickly, a pullback wouldn’t be a surprise.

Before buying stocks, you need to find and study them. Prepare your watch lists and game plan.

Read The Big Picture daily to stay in sync with market direction and leading stocks and sectors.

Follow Ed Carson on Twitter @IBD_ECarson for stock updates and more.

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