Bitcoin Boon As US Inflation Hits 13-Year High, Wages Fall To Lowest In 21St Century
It’s grim news for economists and a bittersweet advertisement for Bitcoin this week after the latest CPI report. Bitcoin Boon As US Inflation Hits 13-Year High, Wages Fall To Lowest In 21St Century
Bitcoin (BTC) gained more free publicity this week as inflation data showed that prices are rising faster than even experts had anticipated.
The latest Consumer Price Index (CPI) report on June 10 from the United States Bureau of Labor Statistics (BLS) also revealed that hourly average earnings for United States workers are at their lowest this century.
Inflation returns to 2008 levels
One of Bitcoin’s best friends is inflation. Its inherently deflationary nature allows its users to save for the future without worrying that inflation is eradicating the value of those savings.
Since the COVID-19 pandemic began, central banks have launched unprecedented money-printing programs, and the consequences are now becoming worryingly clear.
In May, 12 months after the coronavirus pandemic began to take hold outside of China, the U.S. CPI rose 0.6%.
This is 5% higher than the same month last year and means that U.S. inflation is now at its highest since 2008, the year of the financial crisis.
“The May CPI report shows reopening-sensitive categories dominating price pressures for a second straight month,” Bloomberg analysts said in comments accompanying the report.
Perhaps unsurprisingly, Bitcoin proponents were quick to raise the alarm.
“The US just hit a 13 year high inflation rate. This was unexpected by policymakers and economists,” Dan Held, growth lead at crypto exchange Kraken said in a series of tweets.
“To an individual of average intelligence, it was entirely intuitive given the massive money printing (stimulus) that happened since COVID.”
Held noted that wages had failed to keep up with any changes, meaning that U.S. workers were earning on average less per hour than at any time in the 21st century, when adjusted for inflation.
“Wages didn’t keep up with inflation, so workers got poorer. TL;DR wages are more ‘sticky’ than prices which can be adjusted much more easily,” he concluded, highlighting a similar period in the 1970s.
The CPI Hides True Inflation Rates
Other Bitcoin figures have seized on inflation in recent years as a prime example of how the fiat monetary system deceives those it forces to participate.
While the CPI still looks relatively low in percentage terms, a plethora of assets are not included in the gauge. Examples of these are products and services which provide a citizen with reassurance for the future, such as real estate and college tuition.
MicroStrategy CEO Michael Saylor and Saifedean Ammous, author of The Bitcoin Standard, have been especially vocal about the disparity.
“CPI is a misleading measure of inflation,” Saylor argued in March.
“Volatility is a misleading measure of risk. The former distracts us from the problem, while the later distracts us from the solution.”
Crypto Community Divided On Whether Bitcoin Is An Inflation Hedge
Market observers expressed more concerns over the Bitcoin price drop amid a significant projected spike in inflation.
Amid a massive spike of the United States’ Consumer Price Index (CPI), the cryptocurrency community has been divided on whether Bitcoin (BTC) is really a hedge to inflation.
The CPI, an indicator measuring the average change in prices that consumers pay for a basket of goods and services, saw its largest one-month increase in June over the past 13 years, Business Insider reported Tuesday. The inflation surge reportedly started in March, when CPI rose by 2.6%, followed by subsequent increases in April of 4.2% and eventually 5.4% in June.
But despite the recent growth in CPI-measured inflation, Bitcoin has allegedly failed as an inflation hedge as its price has almost halved from $64,000 in mid-April, according to some analysts.
“Bitcoin isn’t behaving like an inflation hedge anymore and will continue to remain heavy over expectations over higher yields,” Ed Moya, senior equity analyst at foreign exchange firm Oanda, said in a Tuesday note. However, that inflation is viewed as transitory, which could be a reason why the June CPI report wasn’t enough of a catalyst to break Bitcoin’s sideways trading, Moya added.
The crypto community subsequently reacted to these CPI-versus-Bitcoin observations, with many industry advocates emphasizing that their early Bitcoin investment and gains “have already hedged the future.” Some Bitcoin enthusiasts pointed out that Bitcoin has been growing historically, posting massive gains over the long term.
According to some crypto experts, Bitcoin is indeed “not a great hedge against inflation.” Mati Greenspan, founder of money management firm Quantum Economics, told Cointelegraph that there “doesn’t seem to be any correlation” between Bitcoin’s price action and inflation or deflation data, stating:
“Certainly Bitcoin has been a great performer over time. But most of the gains have occurred during a great global deflationary period in which all risk assets rose. Now that inflation is picking up for real, for the first time since Bitcoin’s inception, it’s drastically underperforming.”
The latest CPI-triggered argument brings another twist in long-running debates regarding Bitcoin as a hedge instrument. A number of financial analysts, including Nassim Taleb, believe that inflation has nothing to do with Bitcoin’s price. Still, some global investors, such as Paul Tudor Jones, have moved into Bitcoin to protect their investments from inflation.
Walmart Will Phase Out Quarterly Bonuses For Store Workers
Retailer says benefit, part of store workers’ potential compensation for decades, will be rolled into their base pay.
Walmart Inc. is phasing out its decades-old quarterly bonuses for store workers, according to the company, as the retailer implements hourly wage increases for hundreds of thousands of its employees.
Walmart said it would scrap the benefit, dubbed “MyShare,” at the end of the company’s fiscal year on Jan. 31, 2022, according to a memo sent to staff discussing coming wage increases. “We are rolling MyShare into associates’ base pay going forward,” the memo said.
A Walmart spokeswoman said most workers say their hourly wage is the most important part of their pay, and that folding the bonus into wages increases the amount of consistent, predictable income. She said the quarterly bonus makes up just a portion of the pay increase workers are receiving.
The bonuses have been part of Walmart store workers’ potential compensation for decades. Early on, Walmart distributed the bonuses annually based on store performance. Over the years the retailer has used a variety of metrics, including attendance or store-theft level, to determine the payout. Walmart moved the bonus to a quarterly structure in 2007. In some quarters, a store’s performance doesn’t qualify workers for a bonus.
Workers Have The Upper Hand On Wages — For Now
Companies are paying up to attract picky employees, but that won’t last forever.
The U.S. labor market is increasingly mysterious. Economists are split on whether this an exceptionally good time to get hired or not. The data just confuses the issue more.
This was highlighted by Wednesday’s U.S. job openings data, which showed available positions surging to a record 10.9 million in July. If there are so many potential opportunities to work, it’s unclear why millions of former workers remain out of the labor market.
Part of the answer is a collective existential crisis. It turns out you can’t just stop and restart an economy with nothing changing. People adapt to their realities, and the result is a mass rethinking about their relationship to work — where and how they want to live, what they want to do and how much money they need to make.
Many workers are retiring earlier, with a recent New York Fed survey showing that the fewest people plan to keep working past the age of 62 in data going back to 2014. Others, particularly mothers, want to stay home with young children for a larger chunk of time, Pew Research Center surveys show.
All this sounds great, at least for employees, because companies need workers and are being compelled to pay up. But there’s a catch: Workers are on borrowed time. They will most likely lose the upper hand in the not-so-distant future, with companies either replacing open positions with new technologies or reducing their ambitions and sales.
While it seems as if companies have tons of open positions, “will these job openings get filled before the jobs themselves disappear?” Peter Tchir of Academy Securities wrote in a report on Monday. “I’m increasingly worried that more and more entry level jobs will be replaced by technology in the coming weeks and months.”
Tchir has a valid point. Many restaurants have closed temporarily because of a shortage of workers. U.S. manufacturers have seen slower growth as they struggle to keep factories staffed.
Sales are slowing as retailers rush to keep their shelves stocked. In addition, Tchir noted that he’s “coming across more anecdotal evidence that ‘geographic’ dislocation may be playing a role as there is a mismatch between where jobs are and where workers are and an equilibrium has not been reached.” This all indicates a potential end to this virtuous cycle for workers without a further boost to growth or productivity.
For now, the Federal Reserve is willing to be more patient with allowing this dynamic to continue without starting to remove monetary stimulus in part because of how the gains have been distributed.
Wages are increasing at about the fastest pace for lower-paid positions relative to higher-paid ones since the late 1990s, based on the Atlanta Fed Wage Tracker. And this is likely to continue, especially if employees demand more as they face significantly higher prices in their day-to-day lives.
American households, meanwhile, have a record amount of savings in the bank to help keep them afloat, thanks to more than $800 billion of stimulus checks sent out during the pandemic. This helps them be pickier about the jobs they accept, at least for now.
As my Bloomberg Opinion colleague Conor Sen wrote earlier this month, “Workers have far more options than they’ve had in a long time, which is giving them freedom to act in a way they might not have been able to in the past.”
All that said, wages are still growing at a slower pace than in 2007, even with the millions of reported job openings. While salaries have room to rise a bit more as people settle into their new post-pandemic realities, the next challenge lies ahead.
Workers who want to rethink their lives arguably have the best opportunity to do so in many years, but that window will close eventually. The clock is ticking.
Amazon And Walmart Are Winning The Labor Market Wars
Manufacturers are facing unexpected competition from retail companies as the race to hire workers pushes up wages and benefits.
Most of the talk this year about the labor market recovery has focused on the hardest-hit industry, leisure and hospitality, and the struggles that restaurant and hotel owners have had trying to staff up. Under the radar, it’s a different industry — manufacturing — that’s having even more difficulty finding the workers it needs. And that’s what last week’s job openings report hammered home.
Despite its reputation for high wages, the manufacturing sector is falling behind on the compensation front as service companies like Amazon.com Inc. and Walmart Inc. continue to raise their pay to be competitive in a tight labor market. We’re used to America losing manufacturing jobs because companies can find cheaper workers abroad, but perversely, we might begin losing more of those jobs because factory owners can’t offer what service employers can.
When thinking about the manufacturing workforce, it’s important to keep in mind that pay levels vary a lot depending upon the work being done. An average auto worker makes $30 an hour, but an average non-managerial worker in food manufacturing makes more like $20 an hour. Starting pay is presumably lower.
In the aggregate, wage growth for manufacturing jobs has lagged behind other industries over the past decade. Since the beginning of 2011, leisure and hospitality wages increased by 46% while factory wages rose 27%.
The U.S. Job Openings and Labor Turnover Survey, which provides a data snapshot of the labor market, showed how dire the staffing situation was in the manufacturing industry in July. Since February 2020 — right before the pandemic — manufacturing job openings have increased by 121%, more than any other industry.
When looking at the ratio of hires to job openings — in other words, how successful employers are at actually filling their postings — the only industry struggling more than manufacturing was retail. It’s no coincidence that Walmart just announced it’s raising its average hourly wage by $1, to $16.40 an hour.
The Wall Street Journal last month provided a glimpse into what’s happening with an article about a rubber parts factory in Cleveland that was struggling to hire. Finding machine operators was a particular challenge and required boosting wages by $4.55 an hour to $18.25 in order to fill out its staff.
The company president acknowledged that he was too slow to increase pay in recent years; he was still mentally anchored to the weaker labor markets that existed following the 2008 recession. Labor costs as a percentage of sales have risen over the past eight years, posing the question of how much higher wages can go before squeezing profit margins or pushing those costs to customers.
Belatedly raising wages appears to be happening industry-wide as factory owners grapple with worker shortages. Manufacturing wages have gone up by 0.5% per month for four consecutive months — that hasn’t happened since 1981.
But as Walmart and other service sector employers have shown, they’re not resting on their laurels, either, continuing to raise wages and benefits as needed in order to fill their positions.
That’s putting manufacturers in an unexpected competition with service employers for workers. Amazon likes to quote its average starting wage of $17 an hour at fulfillment centers in Michigan that comes with a host of benefits, a package that’s likely better than a lot of entry-level or lower-tier manufacturing jobs for similar work. Thursday, Amazon upped the ante again, announcing that it will pay for some U.S. employees to get four-year college degrees.
A whole host of retailers pay $15 an hour or more — Walgreens announced it would do just that last month — and offer working conditions that are likely more comfortable and less hazardous than being on a factory floor. Would you rather make $15 an hour working at a sawmill or inside a Home Depot?
This is one reason manufacturers will end up embracing automation: They just can’t find a way to make jobs good enough to attract the workers they need relative to their ever-escalating service economy competition.
Service employers have spent the past several years improving the nature of their jobs, doing everything from increasing pay and benefits packages to relaxing dress codes and offering more flexible schedules.
Manufacturing employers are realizing that they now have to do the same. They’ve got arguably an even heavier lift in front of them, given the riskier, more physically demanding nature of many of the jobs — and if they can’t manage to pull it off with humans, they might have to do it with robots.
Tight U.S. Labor Market Makes $15 An Hour De Facto Minimum Wage
Pay may rise above the target set by Biden and unions because of market forces, not mandates.
The push for a $15 federal minimum wage may have stalled in Congress, but Covid-19 is helping steer the U.S. ever closer toward a key objective of labor unions and their allies in the White House and on Capitol Hill.
An analysis of jobs posted from spring 2019 to spring 2021 from a sampling of cities shows many service-sector industries crossed above a $15 starting wage during the period, often by significant margins, according to Emsi Burning Glass, an analytics firm that tracks job postings to glean labor market insights.
The trend seems to have gathered steam in the recovery from the Covid recession, with several large employers, including Walmart, Target, Best Buy, and Chipotle Mexican Grill, bumping up starting or average hourly pay to $15 or more. Amazon.com Inc. recently announced it was boosting average starting wages for open logistics jobs to $18 an hour.
Ten states, plus D.C., have passed laws that will incrementally raise their minimum wage to $15 over several years. Campaigning for the presidency, Joe Biden proposed raising the federal minimum wage, currently set at $7.25 per hour, to $15, but his administration would be hard-pressed to marshal enough votes in Congress—even among Democrats—to make that a reality.
That some companies are targeting $15 specifically suggests they’re signaling that they’re treating employees more fairly, which still represents something of a victory for the union-backed “Fight for $15” campaign, says Ben Zipperer, an economist at the left-leaning Economic Policy Institute (EPI).
In Los Altos, Calif., Smith.ai, a 330-person business that handles customer support for companies, recently raised its starting wage to $15 an hour, purposely choosing that rate in part because of all the attention on the issue. “I think people are looking at $15 as the new normal, kind of the new standard,” says co-founder Aaron Lee. “As we bump up to $15, we see a lot more applicants.”
The tight labor market has empowered workers to demand higher pay and improved conditions. The number of job vacancies exceeded new hires by 4.3 million in July, the most in data going back to 2000. Meanwhile, workers’ average hourly earnings climbed 0.6% in August, twice as much as forecast.
The tightness has sped up the rate at which Americans are hitting the $15 threshold, either because of supply-and-demand factors or state and local minimum-wage laws. The share of workers earning less than $15 an hour is dropping by about 1.5% a month so far this year, not adjusted for inflation, almost double the rate of the first seven months of 2019, according to Zipperer’s research. Today just under 20% of U.S. workers still make below that level.
To be sure, a 5% rise in the consumer price index has chipped away at workers’ wage gains. Average hourly earnings adjusted for inflation are down 0.9% from August of last year.
Fifty miles northeast of Atlanta, John Culpepper keeps boosting the average wage at his Braselton, Ga., staffing agency, which caters to the area’s big crop of distribution centers and manufacturers. It was $13.39 in the summer of 2020 and has since climbed 25%, to $16.80. Chalk it up in part to aggressive recruiting tactics by employers in the area.
For instance, deep-discount retailer Ollie’s Bargain Outlet has taken to emailing its customers and offering $1,000 bonuses and jobs paying up to $20 an hour for warehouse work in nearby Commerce.
Employers that balk at the new pay rates are losing out, according to Culpepper, who owns four Express Employment Professionals offices in north Georgia. “A lot of them can’t do it, and so therefore they’re having labor shortages, which is affecting them getting product out the door,” he says.
Data from Emsi Burning Glass show a substantial portion of low-paying jobs in metropolitan areas went to $15 and above in the past two years. In Phoenix half of the employers seeking cooks at less than $15 an hour in spring 2019 had moved above that level by spring 2021.
Two years ago the lowest wage advertised in job postings for cooks in Phoenix averaged $10.71 an hour, but that jumped 80%, to $19.24, two years later. In Philadelphia 88% of employers that offered less than $15 two years ago for laborers and material handlers had moved above that figure by 2021.
Then there’s Chicago, where an ordinance took effect in July requiring employers with 21 or more employees to pay at least $15 an hour. The wage gains in some low-paying industries in the city have outstripped the new minimum, says Emsi Burning Glass chief economist Bledi Taska.
For example, half of Chicago employers that offered less than $15 for personal-care aides two years ago were above that figure by spring 2021, with the average low wage in job postings climbing from $13.28 an hour to $17.78.
It’s important to note that Emsi Burning Glass’s data come with some caveats. For starters, just 35% of job postings specify a wage or wage range. Also, the firm focuses only on large U.S. metro areas, so its findings may not be representative of labor market dynamics in smaller locales.
Still, Taska says a clear trend is visible from the millions of job announcements his firm analyzes: “Even without a state mandate, the market is driving employers to go above that threshold.”
If it persists, the upward pressure on wages may wind up feeding into consumer price inflation, which is already trending higher because of a combination of supply bottlenecks and rising prices for a host of commodities. About half of small businesses reported raising prices since June, according to an August survey by the National Federation of Independent Business.
Greg Vojnovic, who owns Bojangles fast-food restaurants in northwest Georgia and Hot Dog Shoppes in Ohio, drives by billboards advertising $17-an-hour warehouse jobs and sees the effects on his ability to find workers.
He’s already having “an extraordinarily hard time” hiring, and if the federal government adopts a $15 minimum wage, he says he’d be forced to automate some functions. “You obviously couldn’t live on $15 an hour in New York,” Vojnovic says. But “the $15 minimum wage across the country just doesn’t make sense. The cost of living is just very different across the country.”
Progressive think tanks and labor activists reject the idea that labor market dynamics may make the push for a higher federal minimum unnecessary, and they’re pressing for even bigger gains.
Zipperer’s think tank, EPI, estimated in January that 32 million U.S. workers would benefit from a $15 minimum wage by 2025—two-thirds of them because they’ll still be earning less than that and the remaining third because their pay may get a boost as employers rejigger their wage scales.
About 40% of the U.S. workforce lives in states where the minimum wage is mandated to rise to $15 an hour, EPI estimates. “I don’t think it ends the conversation,” says Chris Figueredo, who oversees the Ballot Initiative Strategy Center, a nonprofit that pushes for progressive state ballot measures. “The fight for $15 is the floor. It’s not the ceiling.”
Inflation Has Turned $15 An Hour Wages Into A Setback
Wages have risen this year, but inflation has made that money worth less than before, preventing any meaningful improvement in living standards.
Many Americans have been delighted to see wages rising since the end of the pandemic. But whether they realize it yet, inflation has already eaten up all of those gains — which highlights the fact that the U.S. economy has no system for making sure that wages keep up with inflation.
In Recent Months, There Have Been Lots Of Stories In The Media About How Wages Are Rising Strongly. And In Fact, In Dollar Terms, That’s True:
Plenty of plausible economic explanations have been offered for this happy trend: Pandemic unemployment insurance offered generous benefits to those who didn’t go back to work, forcing companies to raise wages to lure them back; the danger of Covid-19 in workplaces necessitated a hazard pay premium; the rapid rise of technologies like automated restaurant ordering made workers more productive; and the Fed’s continued loose monetary policy, together with generous government relief spending, kept the economy running hot and the labor market tight.
All of these reasons make sense. And yet, when you adjust for inflation, it turns out that real wages — representing how much stuff you can actually buy with your paycheck — have gone down since May 2020 and continue to drift lower:
What Your Paycheck Is Worth
Real Wages, Adjusted For Inflation, Have Declined Since May 2020 Despite Recent Pay Raises:
This is true whether or not you use consumer price inflation or the personal consumption expenditure price index, a popular alternate measure of inflation. And it’s even true when you hold occupations constant to account for the changing composition of the workforce.
In terms of real purchasing power, American workers are still losing ground.
The reason wages can look like they’re rising when they’re actually falling is inflation, of course, which has been running unusually high this year.
The typical inflation rate is about 2%; this year, it’s been more like 5%. Workers who don’t know this, or who are slow to perceive the rise in prices they pay for goods like cars and groceries, won’t realize this, and will be happy with their unusually large raises. But companies, whose accountants and managers certainly know the true inflation rate, will also be happy, because they know they’re not actually paying more for labor.
That information asymmetry between workers and employers may be exactly what keeps wages from rising faster than inflation. If workers take a year to realize how much prices have gone up, they may be satisfied with the raises they got during the time of high inflation — even if that inflation ultimately turns out to be transitory. By then, it might be too late to negotiate for a real, inflation-adjusted raise.
Many people suffer from what economists call “money illusion” — they tend to think of their income and wealth in pure dollars, instead of in terms of its real purchasing power, at least in the short term. Money illusion could in turn be a source of what economists call upward sticky nominal wages — the tendency of wages not to rise too fast in dollar terms, even when there’s a burst of inflation.
In other words, even if all the aforementioned economic factors driving up wages are very real, price rises could be happening independently of wage growth and could be eating up all the gains because wages simply don’t respond to inflation very quickly.
By allowing prices to rise at a rapid clip just when workers are finally getting a bit of bargaining power, the U.S. might be wasting a golden opportunity to increase living standards.
Eventually, people will realize that prices went up, and that their raises were illusory. At that point they will start getting mad.
This is what happened in the 1970s, when a decade of high inflation coincided with — and possibly caused — real wage losses for the average American worker. Surveys later showed that the reason people didn’t like inflation was precisely that they thought their wages couldn’t keep up.
One possible long-term solution to this problem would be to require all companies to regularly tell workers how much their wages changed after being adjusted for inflation — perhaps every quarter or half year. Companies will resist such a change, however, since it would lead to more frequent wage negotiations, as well as removing their ability to stealthily cut wages by letting inflation do its work. Some economists will worry that this policy could cause wage-price spirals, where wages and prices push each other higher and higher.
In the meantime, falling wages give politicians another reason to worry about inflation. Many commentators hvae been urging the Federal Reserve and U.S. Congress not to be concerned. They argue that the phenomenon is transitory, and that price indices that are better measures of overheating — things like median or trimmed mean inflation — aren’t rising as fast. But the total inflation numbers represent the prices workers actually pay, and even a transitory burst of inflation will do harm if it takes away an opportunity for wage growth.
So if inflation continues for another year, and people realize their wages aren’t rising as much as they think, they could take their anger out on President Joe Biden’s administration — much as they took their anger out on Jimmy Carter in 1980. That’s not necessarily something that the Fed should take into account in its monetary policy decision-making, but it’s probably something that should be keeping Democrats awake at night.
BofA Bumps Its Minimum Wage Again On The Way To $25 An Hour
Bank of America Corp. is bumping its minimum hourly wage to $21, taking another step toward a goal of paying $25 by 2025.
The move, announced Wednesday, nudges pay up from $20, a level the firm had enacted last year ahead of schedule. A $21 wage translates to a full-time annualized salary of $43,680. It extends a series of hikes lifting the firm’s base pay from $15 in 2017.
“Responsible growth requires that we provide a great place to work,” Sheri Bronstein, who oversees human resources at the Charlotte, North Carolina-based lender, said in a statement. “We make broad-ranging investments to attract and develop talented teammates who serve our clients and local communities every day, and who can build long, successful careers with our company.”
Retailers, restaurants and ride-hailing services are among businesses that have been raising pay, trying to lure or hold onto employees as the economy bounces back from a pandemic slump. Many employers are trying to staff up simultaneously, with customers returning to shop, bank and attend in-person events.
In May, Bank of America required its U.S. vendors to pay their workers dedicated to the bank at least $15 per hour.
If Bank of America hits its target for 2025, its minimum hourly wage will have climbed by almost $14, or more than 120%, since 2010, according to the firm.
Denmark’s Richest Man Pays 17,000 Staff A Month’s Wage In Bonus
Anders Holch Povlsen, Denmark’s richest man, will give his employees one month of wages as a bonus after profits at his clothing company jumped to a record.
Bestseller A/S, with brands including Jack & Jones and Vero Moda, will pay its 17,000 staff a total of 300 million kroner ($46.6 million), according to a statement on Friday. The company reported net income of 3.61 billion kroner for the 12 months through July. That’s almost nine times more than in the previous fiscal year when the pandemic shut down many of its stores.
U.K.’s New Hourly Minimum Wage Falls Short of Voters’ Hopes
The British government’s plan to raise the minimum wage to 9.50 pounds ($13.07) per hour may disappoint many voters, a YouGov Plc poll shared exclusively with Bloomberg News indicates.
The survey, carried out before Monday’s announcement, found that almost half thought a minimum rate of 10 pounds an hour was “about right.” A similar number said the same for 11 pounds, while two-thirds said 9 pounds was too low.
The Low Pay Commission, which advises the government, has the rate only climbing above 10 pounds by 2024 under current projections.
The increase to 9.50 pounds is also lower than the rate demanded by the opposition Labour Party and labor unions, which back a rate of 10 pounds. However, where to set the level has divided the shadow cabinet, with one member quitting last month after failing to get support among the party leadership for 15 pounds.
The pay bump, which takes effect in April, comes just two days before Chancellor of the Exchequer Rishi Sunak delivers his annual budget. A significant increase had been widely expected after Prime Minister Boris Johnson made a transition to a high-wage economy his key message at the Conservative Party conference this month.
U.S. Employment Costs Rise At Record Pace As Wages Surge
U.S. employment costs rose at the fastest pace on record in the third quarter as companies across a variety of sectors raised wages against a backdrop of labor shortages.
The employment cost index, a broad gauge of wages and benefits, rose 1.3% from the prior quarter, according to Labor Department data released Friday. The gauge increased 3.7% from a year earlier.
Compensation gains were broad-based across sectors, underscoring how a tight labor market has put pressure on many different types of firms to raise wages. Wages and salaries for civilian workers also rose at a record pace, surging 1.5% in the quarter.
Unlike the average hourly earnings figures in the monthly jobs report, the ECI isn’t impacted by employment shifts across industries and occupations — something that’s been particularly severe amid the pandemic.
U.S. stocks opened lower, while the yield on the 10-year Treasury ticked higher and the dollar strengthened.
Wage Breakdown by Private Industry
* Credit Intermediation +7.7%
* Finance And Insurance +3%
* Leisure And Hospitality +2.6%
* Nursing And Care Facilities +2.1%
* Service-Providing Industries +1.7%
While millions of Americans remain out of work, businesses are struggling to hire and retain enough workers to stay abreast with resurgent demand. As a result, many companies have increased wages, offered one-time bonuses or bolstered other perks — like flexible schedules — to attract workers.
Wages and salaries at companies rose 1.6% in the quarter, also a record. Incentive pay played a key role — from a year ago, total compensation rose 4.6%. But excluding those perks, it rose 4%.
Some companies — like Chipotle Mexican Grill Inc. and Tesla Inc. — have raised prices to help offset increased labor costs, fueling concerns the rapid wage increases could lead to a wage-driven inflationary spiral. However, opponents argue that would require wages to continue to rise at a rapid pace year after year. Rising productivity also helps to absorb those inflationary pressures.
Wage growth is expected to slow as more people return to the labor force, said Ian Shepherdson, chief economist at Pantheon Macroeconomics. However, if that doesn’t happen, asset prices would come under “severe pressure” and the Federal Reserve could be forced to raise interest rates sooner than expected, he said.
“‘Transitory’ would have to be abandoned and the Fed would have no choice but to start hiking as soon as June,” Shepherdson said in a note. “To be clear, that’s not our base case, but the risks are high and rising.”
A separate report out Friday showed U.S. personal spending rose at a steady pace in September, reflecting further growth in outlays for services, while a closely watched price gauge climbed in line with forecasts.
How Companies See It
“It does feel like there’s more options for hourly employment and because of that, that’s putting pressure on the labor markets and hiring for the roles that we need.” — Kimberly-Clark Corp. CEO Michael Hsu, Oct. 25 earnings call
“While we are seeing an impact from the rising commodity and labor costs we have also been adjusting pricing, which should help to compensate.” — Tesla Inc. CFO Zachary Kirkhorn, Oct. 20 earnings call
“With a competitive labor market, this is putting some pressure on our labor cost, including higher acquisition and retention costs, which is not yet reflected in our current pricing. We expect to capture this value in future engagements, but it will take time to appear in our margin profile.” — International Business Machines Corp. CFO James Kavanaugh, Oct. 20 earnings call
“We have had to make some wage rate adjustments in some of our factories, distribution centers and fleet drivers to I’d say attract and retain some of our employees.” — Sherwin-Williams Co. CEO John G. Morikis, Oct. 26 earnings call
‘Alarmingly Big’ U.S. Wages Gain Undermines Argument That Inflation Is Transitory
While the U.S. government’s first estimate of third-quarter growth garnered plenty of attention this week, there was another economic data point that raised quite a few eyebrows.
The third-quarter employment cost index report showed civilian wages leapt 1.5%, the largest advance in series data back to 2001, as companies across a swath of sectors resorted to higher pay against a backdrop of labor shortages.
Ian Shepherdson, chief economist at Pantheon Macroeconomics, called it “alarmingly big.” Still, it’s easy to see more tempered wage growth in the months ahead as Americans return to the workforce and employers find success filling a near-record number of vacancies.
“If that doesn’t happen, and wage growth continues to run at this pace, then Game Over” for the transitory-inflation argument, he said in a note.
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Bitcoin Information & Resources (#GotBitcoin?)
Wall Street’s Crypto Embrace Shows In Crowd At Miami Conference
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Bitcoin’s Wild Weekends Turn Efficient Market Theory Inside Out
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Broker Touts Exotic Bitcoin Bet To Squeeze Income From Crypto
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Bitcoin’s Bulls Should Fear Its Other Scarcity Problem
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Meltem Demirors: “Bitcoin Is Not A F*Cking Systemic Hedge If You Hold Your Bitcoin At A Financial Institution”
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Bitcoin Starts Quarter With Price Down Just 10% YTD vs U.S. Stock’s Worst Quarter Since 2008
Bitcoin Enthusiasts, Liberal Lawmakers Cheer A Fed-Backed Digital Dollar
Crypto-Friendly Bank Revolut Launches In The US (#GotBitcoin?)
The CFTC Just Defined What ‘Actual Delivery’ of Crypto Should Look Like (#GotBitcoin?)
Crypto CEO Compares US Dollar To Onecoin Scam As Fed Keeps Printing (#GotBitcoin?)
Stuck In Quarantine? Become A Blockchain Expert With These Online Courses (#GotBitcoin?)
Bitcoin, Not Governments Will Save the World After Crisis, Tim Draper Says
Crypto Analyst Accused of Photoshopping Trade Screenshots (#GotBitcoin?)
QE4 Begins: Fed Cuts Rates, Buys $700B In Bonds; Bitcoin Rallies 7.7%
Mike Novogratz And Andreas Antonopoulos On The Bitcoin Crash
Amid Market Downturn, Number of People Owning 1 BTC Hits New Record (#GotBitcoin?)
Fatburger And Others Feed $30 Million Into Ethereum For New Bond Offering (#GotBitcoin?)
Pornhub Will Integrate PumaPay Recurring Subscription Crypto Payments (#GotBitcoin?)
Intel SGX Vulnerability Discovered, Cryptocurrency Keys Threatened
Bitcoin’s Plunge Due To Manipulation, Traditional Markets Falling or PlusToken Dumping?
Countries That First Outlawed Crypto But Then Embraced It (#GotBitcoin?)
Bitcoin Maintains Gains As Global Equities Slide, US Yield Hits Record Lows
HTC’s New 5G Router Can Host A Full Bitcoin Node
India Supreme Court Lifts RBI Ban On Banks Servicing Crypto Firms (#GotBitcoin?)
Analyst Claims 98% of Mining Rigs Fail to Verify Transactions (#GotBitcoin?)
Blockchain Storage Offers Security, Data Transparency And immutability. Get Over it!
Black Americans & Crypto (#GotBitcoin?)
Coinbase Wallet Now Allows To Send Crypto Through Usernames (#GotBitcoin)
New ‘Simpsons’ Episode Features Jim Parsons Giving A Crypto Explainer For The Masses (#GotBitcoin?)
Crypto-currency Founder Met With Warren Buffett For Charity Lunch (#GotBitcoin?)
Witches Love Bitcoin
Bitcoin’s Potential To Benefit The African And African-American Community
Coinbase Becomes Direct Visa Card Issuer With Principal Membership
Bitcoin Achieves Major Milestone With Half A Billion Transactions Confirmed
Jill Carlson, Meltem Demirors Back $3.3M Round For Non-Custodial Settlement Protocol Arwen
Crypto Companies Adopt Features Similar To Banks (Only Better) To Drive Growth (#GotBitcoin?)
Top Graphics Cards That Will Turn A Crypto Mining Profit (#GotBitcoin?)
Bitcoin Usage Among Merchants Is Up, According To Data From Coinbase And BitPay
Top 10 Books Recommended by Crypto (#Bitcoin) Thought Leaders
Twitter Adds Bitcoin Emoji, Jack Dorsey Suggests Unicode Does The Same
Bitcoiners Are Now Into Fasting. Read This Article To Find Out Why
You Can Now Donate Bitcoin Or Fiat To Show Your Support For All Of Our Valuable Content
2019’s Top 10 Institutional Actors In Crypto (#GotBitcoin?)
What Does Twitter’s New Decentralized Initiative Mean? (#GotBitcoin?)
Crypto-Friendly Silvergate Bank Goes Public On New York Stock Exchange (#GotBitcoin?)
Bitcoin’s Best Q1 Since 2013 To ‘Escalate’ If $9.5K Is Broken
Billionaire Investor Tim Draper: If You’re a Millennial, Buy Bitcoin
What Are Lightning Wallets Doing To Help Onboard New Users? (#GotBitcoin?)
If You Missed Out On Investing In Amazon, Bitcoin Might Be A Second Chance For You (#GotBitcoin?)
2020 And Beyond: Bitcoin’s Potential Protocol (Privacy And Scalability) Upgrades (#GotBitcoin?)
US Deficit Will Be At Least 6 Times Bitcoin Market Cap — Every Year (#GotBitcoin?)
Central Banks Warm To Issuing Digital Currencies (#GotBitcoin?)
Meet The Crypto Angel Investor Running For Congress In Nevada (#GotBitcoin?)
Introducing BTCPay Vault – Use Any Hardware Wallet With BTCPay And Its Full Node (#GotBitcoin?)
How Not To Lose Your Coins In 2020: Alternative Recovery Methods (#GotBitcoin?)
H.R.5635 – Virtual Currency Tax Fairness Act of 2020 ($200.00 Limit) 116th Congress (2019-2020)
Adam Back On Satoshi Emails, Privacy Concerns And Bitcoin’s Early Days
The Prospect of Using Bitcoin To Build A New International Monetary System Is Getting Real
How To Raise Funds For Australia Wildfire Relief Efforts (Using Bitcoin And/Or Fiat )
Former Regulator Known As ‘Crypto Dad’ To Launch Digital-Dollar Think Tank (#GotBitcoin?)
Currency ‘Cold War’ Takes Center Stage At Pre-Davos Crypto Confab (#GotBitcoin?)
A Blockchain-Secured Home Security Camera Won Innovation Awards At CES 2020 Las Vegas
Bitcoin’s Had A Sensational 11 Years (#GotBitcoin?)
Sergey Nazarov And The Creation Of A Decentralized Network Of Oracles
Google Suspends MetaMask From Its Play App Store, Citing “Deceptive Services”
Christmas Shopping: Where To Buy With Crypto This Festive Season
At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade
Coinbase CEO Armstrong Wins Patent For Tech Allowing Users To Email Bitcoin
Bitcoin Has Got Society To Think About The Nature Of Money
How DeFi Goes Mainstream In 2020: Focus On Usability (#GotBitcoin?)
Dissidents And Activists Have A Lot To Gain From Bitcoin, If Only They Knew It (#GotBitcoin?)
At A Refugee Camp In Iraq, A 16-Year-Old Syrian Is Teaching Crypto Basics
Bitclub Scheme Busted In The US, Promising High Returns From Mining
Bitcoin Advertised On French National TV
Germany: New Proposed Law Would Legalize Banks Holding Bitcoin
How To Earn And Spend Bitcoin On Black Friday 2019
The Ultimate List of Bitcoin Developments And Accomplishments
Charities Put A Bitcoin Twist On Giving Tuesday
Family Offices Finally Accept The Benefits of Investing In Bitcoin
An Army Of Bitcoin Devs Is Battle-Testing Upgrades To Privacy And Scaling
Bitcoin ‘Carry Trade’ Can Net Annual Gains With Little Risk, Says PlanB
Max Keiser: Bitcoin’s ‘Self-Settlement’ Is A Revolution Against Dollar
Blockchain Can And Will Replace The IRS
China Seizes The Blockchain Opportunity. How Should The US Respond? (#GotBitcoin?)
Jack Dorsey: You Can Buy A Fraction Of Berkshire Stock Or ‘Stack Sats’
Bitcoin Price Skyrockets $500 In Minutes As Bakkt BTC Contracts Hit Highs
Bitcoin’s Irreversibility Challenges International Private Law: Legal Scholar
Bitcoin Has Already Reached 40% Of Average Fiat Currency Lifespan
Yes, Even Bitcoin HODLers Can Lose Money In The Long-Term: Here’s How (#GotBitcoin?)
Unicef To Accept Donations In Bitcoin (#GotBitcoin?)
Former Prosecutor Asked To “Shut Down Bitcoin” And Is Now Face Of Crypto VC Investing (#GotBitcoin?)
Switzerland’s ‘Crypto Valley’ Is Bringing Blockchain To Zurich
Next Bitcoin Halving May Not Lead To Bull Market, Says Bitmain CEO
Tim Draper Bets On Unstoppable Domain’s .Crypto Domain Registry To Replace Wallet Addresses (#GotBitcoin?)
Bitcoin Developer Amir Taaki, “We Can Crash National Economies” (#GotBitcoin?)
Veteran Crypto And Stocks Trader Shares 6 Ways To Invest And Get Rich
Is Chainlink Blazing A Trail Independent Of Bitcoin?
Nearly $10 Billion In BTC Is Held In Wallets Of 8 Crypto Exchanges (#GotBitcoin?)
SEC Enters Settlement Talks With Alleged Fraudulent Firm Veritaseum (#GotBitcoin?)
Blockstream’s Samson Mow: Bitcoin’s Block Size Already ‘Too Big’
Attorneys Seek Bank Of Ireland Execs’ Testimony Against OneCoin Scammer (#GotBitcoin?)
OpenLibra Plans To Launch Permissionless Fork Of Facebook’s Stablecoin (#GotBitcoin?)
Tiny $217 Options Trade On Bitcoin Blockchain Could Be Wall Street’s Death Knell (#GotBitcoin?)
Class Action Accuses Tether And Bitfinex Of Market Manipulation (#GotBitcoin?)
Sharia Goldbugs: How ISIS Created A Currency For World Domination (#GotBitcoin?)
Bitcoin Eyes Demand As Hong Kong Protestors Announce Bank Run (#GotBitcoin?)
How To Securely Transfer Crypto To Your Heirs
‘Gold-Backed’ Crypto Token Promoter Karatbars Investigated By Florida Regulators (#GotBitcoin?)
Crypto News From The Spanish-Speaking World (#GotBitcoin?)
Financial Services Giant Morningstar To Offer Ratings For Crypto Assets (#GotBitcoin?)
‘Gold-Backed’ Crypto Token Promoter Karatbars Investigated By Florida Regulators (#GotBitcoin?)
The Original Sins Of Cryptocurrencies (#GotBitcoin?)
Bitcoin Is The Fraud? JPMorgan Metals Desk Fixed Gold Prices For Years (#GotBitcoin?)
Israeli Startup That Allows Offline Crypto Transactions Secures $4M (#GotBitcoin?)
[PSA] Non-genuine Trezor One Devices Spotted (#GotBitcoin?)
Bitcoin Stronger Than Ever But No One Seems To Care: Google Trends (#GotBitcoin?)
First-Ever SEC-Qualified Token Offering In US Raises $23 Million (#GotBitcoin?)
You Can Now Prove A Whole Blockchain With One Math Problem – Really
Crypto Mining Supply Fails To Meet Market Demand In Q2: TokenInsight
$2 Billion Lost In Mt. Gox Bitcoin Hack Can Be Recovered, Lawyer Claims (#GotBitcoin?)
Fed Chair Says Agency Monitoring Crypto But Not Developing Its Own (#GotBitcoin?)
Wesley Snipes Is Launching A Tokenized $25 Million Movie Fund (#GotBitcoin?)
Mystery 94K BTC Transaction Becomes Richest Non-Exchange Address (#GotBitcoin?)
A Crypto Fix For A Broken International Monetary System (#GotBitcoin?)
Four Out Of Five Top Bitcoin QR Code Generators Are Scams: Report (#GotBitcoin?)
Waves Platform And The Abyss To Jointly Launch Blockchain-Based Games Marketplace (#GotBitcoin?)
Bitmain Ramps Up Power And Efficiency With New Bitcoin Mining Machine (#GotBitcoin?)
Ledger Live Now Supports Over 1,250 Ethereum-Based ERC-20 Tokens (#GotBitcoin?)
Miss Finland: Bitcoin’s Risk Keeps Most Women Away From Cryptocurrency (#GotBitcoin?)
Artist Akon Loves BTC And Says, “It’s Controlled By The People” (#GotBitcoin?)
Ledger Live Now Supports Over 1,250 Ethereum-Based ERC-20 Tokens (#GotBitcoin?)
Co-Founder Of LinkedIn Presents Crypto Rap Video: Hamilton Vs. Satoshi (#GotBitcoin?)
Crypto Insurance Market To Grow, Lloyd’s Of London And Aon To Lead (#GotBitcoin?)
No ‘AltSeason’ Until Bitcoin Breaks $20K, Says Hedge Fund Manager (#GotBitcoin?)
NSA Working To Develop Quantum-Resistant Cryptocurrency: Report (#GotBitcoin?)
Custody Provider Legacy Trust Launches Crypto Pension Plan (#GotBitcoin?)
Vaneck, SolidX To Offer Limited Bitcoin ETF For Institutions Via Exemption (#GotBitcoin?)
Russell Okung: From NFL Superstar To Bitcoin Educator In 2 Years (#GotBitcoin?)
Bitcoin Miners Made $14 Billion To Date Securing The Network (#GotBitcoin?)
Why Does Amazon Want To Hire Blockchain Experts For Its Ads Division?
Argentina’s Economy Is In A Technical Default (#GotBitcoin?)
Blockchain-Based Fractional Ownership Used To Sell High-End Art (#GotBitcoin?)
Portugal Tax Authority: Bitcoin Trading And Payments Are Tax-Free (#GotBitcoin?)
Bitcoin ‘Failed Safe Haven Test’ After 7% Drop, Peter Schiff Gloats (#GotBitcoin?)
Bitcoin Dev Reveals Multisig UI Teaser For Hardware Wallets, Full Nodes (#GotBitcoin?)
Bitcoin Price: $10K Holds For Now As 50% Of CME Futures Set To Expire (#GotBitcoin?)
Bitcoin Realized Market Cap Hits $100 Billion For The First Time (#GotBitcoin?)
Stablecoins Begin To Look Beyond The Dollar (#GotBitcoin?)
Bank Of England Governor: Libra-Like Currency Could Replace US Dollar (#GotBitcoin?)
Binance Reveals ‘Venus’ — Its Own Project To Rival Facebook’s Libra (#GotBitcoin?)
The Real Benefits Of Blockchain Are Here. They’re Being Ignored (#GotBitcoin?)
CommBank Develops Blockchain Market To Boost Biodiversity (#GotBitcoin?)
SEC Approves Blockchain Tech Startup Securitize To Record Stock Transfers (#GotBitcoin?)
SegWit Creator Introduces New Language For Bitcoin Smart Contracts (#GotBitcoin?)
You Can Now Earn Bitcoin Rewards For Postmates Purchases (#GotBitcoin?)
Bitcoin Price ‘Will Struggle’ In Big Financial Crisis, Says Investor (#GotBitcoin?)
Fidelity Charitable Received Over $100M In Crypto Donations Since 2015 (#GotBitcoin?)
Would Blockchain Better Protect User Data Than FaceApp? Experts Answer (#GotBitcoin?)
Just The Existence Of Bitcoin Impacts Monetary Policy (#GotBitcoin?)
What Are The Biggest Alleged Crypto Heists And How Much Was Stolen? (#GotBitcoin?)
IRS To Cryptocurrency Owners: Come Clean, Or Else!
Coinbase Accidentally Saves Unencrypted Passwords Of 3,420 Customers (#GotBitcoin?)
Bitcoin Is A ‘Chaos Hedge, Or Schmuck Insurance‘ (#GotBitcoin?)
Bakkt Announces September 23 Launch Of Futures And Custody
Coinbase CEO: Institutions Depositing $200-400M Into Crypto Per Week (#GotBitcoin?)
Researchers Find Monero Mining Malware That Hides From Task Manager (#GotBitcoin?)
Crypto Dusting Attack Affects Nearly 300,000 Addresses (#GotBitcoin?)
A Case For Bitcoin As Recession Hedge In A Diversified Investment Portfolio (#GotBitcoin?)
SEC Guidance Gives Ammo To Lawsuit Claiming XRP Is Unregistered Security (#GotBitcoin?)
15 Countries To Develop Crypto Transaction Tracking System: Report (#GotBitcoin?)
US Department Of Commerce Offering 6-Figure Salary To Crypto Expert (#GotBitcoin?)
Mastercard Is Building A Team To Develop Crypto, Wallet Projects (#GotBitcoin?)
Canadian Bitcoin Educator Scams The Scammer And Donates Proceeds (#GotBitcoin?)
Amazon Wants To Build A Blockchain For Ads, New Job Listing Shows (#GotBitcoin?)
Shield Bitcoin Wallets From Theft Via Time Delay (#GotBitcoin?)
Blockstream Launches Bitcoin Mining Farm With Fidelity As Early Customer (#GotBitcoin?)
Commerzbank Tests Blockchain Machine To Machine Payments With Daimler (#GotBitcoin?)
Bitcoin’s Historical Returns Look Very Attractive As Online Banks Lower Payouts On Savings Accounts (#GotBitcoin?)
Man Takes Bitcoin Miner Seller To Tribunal Over Electricity Bill And Wins (#GotBitcoin?)
Bitcoin’s Computing Power Sets Record As Over 100K New Miners Go Online (#GotBitcoin?)
Walmart Coin And Libra Perform Major Public Relations For Bitcoin (#GotBitcoin?)
Judge Says Buying Bitcoin Via Credit Card Not Necessarily A Cash Advance (#GotBitcoin?)
Poll: If You’re A Stockowner Or Crypto-Currency Holder. What Will You Do When The Recession Comes?
1 In 5 Crypto Holders Are Women, New Report Reveals (#GotBitcoin?)
Beating Bakkt, Ledgerx Is First To Launch ‘Physical’ Bitcoin Futures In Us (#GotBitcoin?)
Facebook Warns Investors That Libra Stablecoin May Never Launch (#GotBitcoin?)
Government Money Printing Is ‘Rocket Fuel’ For Bitcoin (#GotBitcoin?)
Bitcoin-Friendly Square Cash App Stock Price Up 56% In 2019 (#GotBitcoin?)
Safeway Shoppers Can Now Get Bitcoin Back As Change At 894 US Stores (#GotBitcoin?)
TD Ameritrade CEO: There’s ‘Heightened Interest Again’ With Bitcoin (#GotBitcoin?)
Venezuela Sets New Bitcoin Volume Record Thanks To 10,000,000% Inflation (#GotBitcoin?)
Newegg Adds Bitcoin Payment Option To 73 More Countries (#GotBitcoin?)
China’s Schizophrenic Relationship With Bitcoin (#GotBitcoin?)
More Companies Build Products Around Crypto Hardware Wallets (#GotBitcoin?)
Bakkt Is Scheduled To Start Testing Its Bitcoin Futures Contracts Today (#GotBitcoin?)
Bitcoin Network Now 8 Times More Powerful Than It Was At $20K Price (#GotBitcoin?)
Crypto Exchange BitMEX Under Investigation By CFTC: Bloomberg (#GotBitcoin?)
“Bitcoin An ‘Unstoppable Force,” Says US Congressman At Crypto Hearing (#GotBitcoin?)
Bitcoin Network Is Moving $3 Billion Daily, Up 210% Since April (#GotBitcoin?)
Cryptocurrency Startups Get Partial Green Light From Washington
Fundstrat’s Tom Lee: Bitcoin Pullback Is Healthy, Fewer Searches Аre Good (#GotBitcoin?)
Bitcoin Lightning Nodes Are Snatching Funds From Bad Actors (#GotBitcoin?)
The Provident Bank Now Offers Deposit Services For Crypto-Related Entities (#GotBitcoin?)
Bitcoin Could Help Stop News Censorship From Space (#GotBitcoin?)
US Sanctions On Iran Crypto Mining — Inevitable Or Impossible? (#GotBitcoin?)
US Lawmaker Reintroduces ‘Safe Harbor’ Crypto Tax Bill In Congress (#GotBitcoin?)
EU Central Bank Won’t Add Bitcoin To Reserves — Says It’s Not A Currency (#GotBitcoin?)
The Miami Dolphins Now Accept Bitcoin And Litecoin Crypt-Currency Payments (#GotBitcoin?)
Trump Bashes Bitcoin And Alt-Right Is Mad As Hell (#GotBitcoin?)
Goldman Sachs Ramps Up Development Of New Secret Crypto Project (#GotBitcoin?)
Blockchain And AI Bond, Explained (#GotBitcoin?)
Grayscale Bitcoin Trust Outperformed Indexes In First Half Of 2019 (#GotBitcoin?)
XRP Is The Worst Performing Major Crypto Of 2019 (GotBitcoin?)
Bitcoin Back Near $12K As BTC Shorters Lose $44 Million In One Morning (#GotBitcoin?)
As Deutsche Bank Axes 18K Jobs, Bitcoin Offers A ‘Plan ฿”: VanEck Exec (#GotBitcoin?)
Argentina Drives Global LocalBitcoins Volume To Highest Since November (#GotBitcoin?)
‘I Would Buy’ Bitcoin If Growth Continues — Investment Legend Mobius (#GotBitcoin?)
Lawmakers Push For New Bitcoin Rules (#GotBitcoin?)
Facebook’s Libra Is Bad For African Americans (#GotBitcoin?)
Crypto Firm Charity Announces Alliance To Support Feminine Health (#GotBitcoin?)
Canadian Startup Wants To Upgrade Millions Of ATMs To Sell Bitcoin (#GotBitcoin?)
Trump Says US ‘Should Match’ China’s Money Printing Game (#GotBitcoin?)
Casa Launches Lightning Node Mobile App For Bitcoin Newbies (#GotBitcoin?)
Bitcoin Rally Fuels Market In Crypto Derivatives (#GotBitcoin?)
World’s First Zero-Fiat ‘Bitcoin Bond’ Now Available On Bloomberg Terminal (#GotBitcoin?)
Buying Bitcoin Has Been Profitable 98.2% Of The Days Since Creation (#GotBitcoin?)
Another Crypto Exchange Receives License For Crypto Futures
From ‘Ponzi’ To ‘We’re Working On It’ — BIS Chief Reverses Stance On Crypto (#GotBitcoin?)
These Are The Cities Googling ‘Bitcoin’ As Interest Hits 17-Month High (#GotBitcoin?)
Venezuelan Explains How Bitcoin Saves His Family (#GotBitcoin?)
Quantum Computing Vs. Blockchain: Impact On Cryptography
This Fund Is Riding Bitcoin To Top (#GotBitcoin?)
Bitcoin’s Surge Leaves Smaller Digital Currencies In The Dust (#GotBitcoin?)
Bitcoin Exchange Hits $1 Trillion In Trading Volume (#GotBitcoin?)
Bitcoin Breaks $200 Billion Market Cap For The First Time In 17 Months (#GotBitcoin?)
You Can Now Make State Tax Payments In Bitcoin (#GotBitcoin?)
Religious Organizations Make Ideal Places To Mine Bitcoin (#GotBitcoin?)
Goldman Sacs And JP Morgan Chase Finally Concede To Crypto-Currencies (#GotBitcoin?)
Bitcoin Heading For Fifth Month Of Gains Despite Price Correction (#GotBitcoin?)
Breez Reveals Lightning-Powered Bitcoin Payments App For IPhone (#GotBitcoin?)
Big Four Auditing Firm PwC Releases Cryptocurrency Auditing Software (#GotBitcoin?)
Amazon-Owned Twitch Quietly Brings Back Bitcoin Payments (#GotBitcoin?)
JPMorgan Will Pilot ‘JPM Coin’ Stablecoin By End Of 2019: Report (#GotBitcoin?)
Is There A Big Short In Bitcoin? (#GotBitcoin?)
Coinbase Hit With Outage As Bitcoin Price Drops $1.8K In 15 Minutes
Samourai Wallet Releases Privacy-Enhancing CoinJoin Feature (#GotBitcoin?)
There Are Now More Than 5,000 Bitcoin ATMs Around The World (#GotBitcoin?)
You Can Now Get Bitcoin Rewards When Booking At Hotels.Com (#GotBitcoin?)
North America’s Largest Solar Bitcoin Mining Farm Coming To California (#GotBitcoin?)
Bitcoin On Track For Best Second Quarter Price Gain On Record (#GotBitcoin?)
Bitcoin Hash Rate Climbs To New Record High Boosting Network Security (#GotBitcoin?)
Bitcoin Exceeds 1Million Active Addresses While Coinbase Custodies $1.3B In Assets
Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)
Bitcoin’s Lightning Comes To Apple Smartwatches With New App (#GotBitcoin?)
E-Trade To Offer Crypto Trading (#GotBitcoin)
US Rapper Lil Pump Starts Accepting Bitcoin Via Lightning Network On Merchandise Store (#GotBitcoin?)
Bitfinex Used Tether Reserves To Mask Missing $850 Million, Probe Finds (#GotBitcoin?)
21-Year-Old Jailed For 10 Years After Stealing $7.5M In Crypto By Hacking Cell Phones (#GotBitcoin?)
You Can Now Shop With Bitcoin On Amazon Using Lightning (#GotBitcoin?)
Afghanistan, Tunisia To Issue Sovereign Bonds In Bitcoin, Bright Future Ahead (#GotBitcoin?)
Crypto Faithful Say Blockchain Can Remake Securities Market Machinery (#GotBitcoin?)
Disney In Talks To Acquire The Owner Of Crypto Exchanges Bitstamp And Korbit (#GotBitcoin?)
Crypto Exchange Gemini Rolls Out Native Wallet Support For SegWit Bitcoin Addresses (#GotBitcoin?)
Binance Delists Bitcoin SV, CEO Calls Craig Wright A ‘Fraud’ (#GotBitcoin?)
Bitcoin Outperforms Nasdaq 100, S&P 500, Grows Whopping 37% In 2019 (#GotBitcoin?)
Bitcoin Passes A Milestone 400 Million Transactions (#GotBitcoin?)
Future Returns: Why Investors May Want To Consider Bitcoin Now (#GotBitcoin?)
Next Bitcoin Core Release To Finally Connect Hardware Wallets To Full Nodes (#GotBitcoin?)
Major Crypto-Currency Exchanges Use Lloyd’s Of London, A Registered Insurance Broker (#GotBitcoin?)
How Bitcoin Can Prevent Fraud And Chargebacks (#GotBitcoin?)
Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)
Zebpay Becomes First Exchange To Add Lightning Payments For All Users (#GotBitcoin?)
Coinbase’s New Customer Incentive: Interest Payments, With A Crypto Twist (#GotBitcoin?)
The Best Bitcoin Debit (Cashback) Cards Of 2019 (#GotBitcoin?)
Real Estate Brokerages Now Accepting Bitcoin (#GotBitcoin?)
Ernst & Young Introduces Tax Tool For Reporting Cryptocurrencies (#GotBitcoin?)
How Will Bitcoin Behave During A Recession? (#GotBitcoin?)
Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)
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