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Strategist Mike McGlone Believes Bitcoin May Break To $ 60,000 Resistance Against $ 20,000 Support – Bitcoin Planet Markets and Prices



Bloomberg Intelligence Senior Commodity Strategist Mike McGlone has long been using bitcoin for some time now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week, the strategist’s analysis notes that bitcoin prices will likely return to the $ 60,000 grip, as opposed to the $ 20,000 support range.

ETF analyst: “China does not reject Bitcoin, Bitcoin rejects China”

On July 23, Bloomberg’s Senior Exchange Traded Funds (ETF) Analyst Eric Balchunas shared a screenshot of Mike McGlone’s written statement regarding current bitcoin markets. After hitting a high of $ 35,960 on July 4, the main crypto asset fell to a low of $ 29,300 per unit 19 days later. July 24, Bitcoin (BTC) managed to go back to the $ 34K region because there has been a slight trend reversal in the last 48 hours.

“Our crypto analyst Mike McGlone says bitcoin [is] more likely to reach $ 60,000 than $ 20,000 based on historical price models, ”Balchunas tweeted Friday. “[McGlone] Also says China’s rejection of open source software crypto assets could mark [a] tray in [the] the country’s economic rise, ”Balchunas added. A few people responded to McGlone’s point of view and one person noted:

It’s a hot take on China. Rejecting things like this usually shows a fear that something is better than your own currency. All countries that reject Bitcoin ARE SHOUTING the same thing.

Balchunas responded to comment and said it reminded him of old jokes. “It reminds me of Chuck Norris jokes for some reason. China is not rejecting bitcoin, bitcoin is rejecting China, ”Balchunas said.

McGlone: ​​”A Bitcoin Market Similar To The 2018-2019 Consolidation Period”

Regarding McGlone Bitcoin (BTC) price predictions are affected, the ETF analyst’s screenshot of McGlone’s outlook said:

Bitcoin is more likely to return to $ 60,000 resistance against $ 20,000 support, if its history of recovery from similar too cold conditions is any guide. Our chart shows the benchmark crypto similar to the 2018-2019 consolidation period of around $ 4,000, just before the launch of the 2019 peak at around $ 14,000. Bears more focused on tactical trading seem to proliferate when Bitcoin holds around 30% of the threshold below its 20-week moving average, allowing time for buy and hold types to pile up.

Besides China, regulators have been crack down on cryptocurrency operations global. Government officials in Europe want to ban anonymous transactions and the European Commission has law Project to “ensure full traceability of crypto-asset transfers”.

In addition to the regulatory climate, global markets, in general, are a shaken touch by the narrative surrounding the Covid Delta variant. While many people who responded to Balchunas’ Twitter feed agreed with McGlone, one person said he only agreed with a specific part of the statement where he said bitcoin is more. likely to reach $ 60,000 as $ 20,000.

This isn’t the first time McGlone has made such predictions regarding bitcoinsthe future price of. Last month, the senior commodities strategist noted “$ 40,000 seems more likely than $ 20,000” and the last call for $ 60,000 is much more optimistic.

What do you think of Mike McGlone’s bitcoin price outlook? Let us know what you think of this topic in the comments section below.

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Bearish, Bitcoin, Bitcoin (BTC), Bloomberg Analyst, BTC, Bull market, Bullish, Graphics, China, Cryptocurrency, delta-variant, Economy, Eric Balchunas, European Commission, Finance, Marlet, Markets, Mike McGlone, Prices, resistance, strategist, Support

Image credits: Shutterstock, Pixabay, Wiki Commons

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How to smartly invest in crypto as a retail investor (from a VC): Bitcoin



A community dedicated to Bitcoin, the Internet currency. Bitcoin is a decentralized digital currency, distributed around the world. Bitcoins are issued and managed without any central authority: there is no government, company or bank in charge of Bitcoin. You might be interested in Bitcoin if you are into cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, although people of all political philosophies are welcome.



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Global X Bitcoin ETF App Joins Long List Before SEC: Bitcoin



A community dedicated to Bitcoin, the Internet currency. Bitcoin is a decentralized digital currency, distributed around the world. Bitcoins are issued and managed without any central authority: there is no government, company or bank in charge of Bitcoin. You might be interested in Bitcoin if you are into cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, although people of all political philosophies are welcome.



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Inside the ‘ghost’ distilleries that have risen from the dead



Compared with some of Scotland’s more picture-postcard whisky towns, the Highland village of Brora is unassuming. There’s a golf course, ice-cream parlour and a couple of modest hotels. Most who travel here are on their way to somewhere else — the hills, the beach or Dunrobin Castle down the road.

Yet this village on the north-east coast of Scotland has a mythical reputation among whisky aficionados. The malts from its Victorian distillery, which closed in 1983 after a slump in the whisky market that shuttered a quarter of Scottish distilleries, are some of the world’s most coveted, loved for their fruity, waxy character and mercurial smoke. At a Sotheby’s auction in 2019, a bottle of 40-year-old malt from Brora’s dwindling stocks was sold for a record £54,450.

Brora is one of an elite band of “ghost” or “silent” distilleries that command some of the highest prices on today’s secondary market. Others include the Islay distillery Port Ellen — another victim of the 1980s crash — and the Lowland distillery Rosebank, which closed in 1993.

For almost 40 years, Brora’s black iron gates were locked. Its two copper pot stills stood silent and cold. But this summer, they have been fired up, marking the first phase in a £35m restoration that will see Brora and its Diageo stablemate Port Ellen restored to life. Elsewhere, Ian Macleod Distillers is reviving Rosebank, and a tribute to Karuizawa, a ghost distillery of major renown in Japan, is being built.

The Brora distillery in the Highlands, which reopened for business this summer. It had been shuttered since 1983 — one of about 30 Scottish distilleries to close following a slump in the whisky market © Robert Birtles

The resurrection of these distilleries signals the industry’s confidence in the future of single malts, a sector that has long accounted for just 10 per cent (by volume) of the blends-driven whisky market but which now shows the most dynamic growth.

For the many whisky fans who tuned in from around the world to watch the first cask of Brora filled on May 19, the return is steeped in nostalgia; the second coming of a distillery whose rise, fall and rise again reads like a history of Scotch whisky in miniature.

Brora was founded in 1819 by the Marquis of Stafford (he of the notorious Highland Clearances), originally under the name Clynelish. In its early days, it achieved a degree of fame as a single malt in its own right. But as the blended whisky market boomed in the 20th century, it found a calling as a supplier of single malts for blending. As the century progressed, production continued to increase and by the early 1980s, Brora’s warehouses were full to the brim.

The crash was precipitated by many factors, including economic wobbles in key markets and younger drinkers defecting to newly fashionable vodka. It caught the industry on the hop and led to the closure of more than 30 distilleries. The result was the infamous Whisky Loch, a surfeit of whisky that languished in casks across Scotland for the best part of the next 20 years.

Around 2000, a new kind of customer started to emerge, one who felt jaded by big brands and more partial to obscure, mature and limited-edition single malts. It led to a reappraisal of old stocks from these decommissioned distilleries — stocks that had been ageing for far longer than ever intended. At first, prices for these venerable whiskies were relatively modest. You could pick up a 30-year-old Brora or Port Ellen for less than £100. But by the early 2010s, they had started to spiral. The cult of the ghost distillery was born.

A picture of Brora’s master distiller Stewart Bowman
Master distiller Stewart Bowman, 39, is the son of the last exciseman to work at Brora before it closed. ‘Everyone had a relative that worked [there] at one stage . . . we were all delighted to see it back’ © Robert Birtles

Everyone knew that these stocks would run out one day. So, in 2017 there was jubilation in the whisky world when Diageo announced its plan to bring Brora and Port Ellen back.

“When we first opened the doors at Brora [in 2017], we walked into a time capsule,” says Diageo’s head archivist, Joanne McKerchar. “As a historian and an archivist for malts, I had never seen anything like that before. It was unbelievable just how untouched it was. As if the guys had just finished their shift and walked out . . . What must they have been thinking the last time they flicked that light switch or they locked the doors, not knowing whether they were ever going to see this place open again? You’re not just looking at stills or a physical building, it’s all of the emotion that would have gone with that last day. It was quite overwhelming.”


Compared with some ghost distilleries, Brora was in pretty good nick. Crucially, the original pair of copper pot stills, integral to shaping the character of a distillery’s spirit, remained in situ. But piecing together the finer points of production was a forensic operation. With no original “new make” to go on (the unaged spirit that is the essence of a house style), they had to reverse-engineer aged samples with the help of expert noses. In a bid to understand the workings of the original Brora, McKerchar combed old distillery records, analysed architectural plans and interviewed former employees. “They were instrumental in helping us understand what the culture was like,” she says.

One of those employees was Kevin Innes, now 61. “When Brora closed, we all found new jobs all right,” he says, casting a critical eye over the reconditioned stills. “But it was sad for the community because it was very family-oriented back then. Some families had been at the distillery for five generations.”

A bottle of 39-year-old Brora single malt on a wooden table
A bottle of 39-year-old Brora single malt. As the shuttered distillery’s stocks dwindled, prices soared: in 2019, a bottle of 40-year-old single malt was sold for a record £54,450 at Sotheby’s © Robert Birtles

Not all of Brora’s past has been preserved. The practice of “dramming” — when workers would be fortified with tots of whisky throughout the day — has fallen by the wayside. “If you just did a regular job you’d get a ‘white dram’, which was a Clynelish [from the neighbouring distillery, which inherited the name],” recalls Innes. “But if you did one of the really dirty jobs, you’d be rewarded with a brown [aged] dram — and that was always a Brora.”

Innes remains proud of the malt he helped create, but he is bemused by the prices it commands today. “It just seems unreal, when you think we made it for pennies.”

From outside, the distillery looks much like it did 100 years ago. Above the limestone still house, the pagoda soars against a backdrop of grassy hills. Down the far side of the cobbled yard, six low-slung dunnage warehouses blackened with Baudoinia compniacensis, the whisky-loving fungus that besmirches many a great distillery, hunker down over thousands of sleeping casks.

Standing among those casks, breathing in the dizzying smell of whisky, damp wood and earth, you might imagine that nothing much has changed. But behind the scenes, Brora #2 has all the mod cons: a luxurious tasting room, automated control systems and a biomass boiler that will render the distillery carbon neutral.

A close-up of a spirit safe at the Brora distillery
A spirit safe in the Brora distillery. With no original spirit available, recapturing the whisky’s signature flavour was quite a task: distillers had to reverse-engineer aged samples with the help of expert noses © Robert Birtles

Brora’s newly appointed master distiller is Stewart Bowman, the 39-year-old son of the last exciseman to work at the distillery before it closed. “I used to play under the old worm tub condensers as a child,” he says, adding hastily that such behaviour would not, of course, be condoned under Diageo health and safety rules today. “We still have the ledger where my father wrote the last entry, in 1983: ‘Commencement of Brora Distillery silent season (undetermined period).’”

Tall, with a knotted ginger beard and a taste for heavy metal, Bowman doesn’t look like the soppy type. Yet, as we pore over old distillery plans in the tasting room, he admits that he welled up a bit when he filled the first cask.

“It was always a great point of pride to have the distillery in the village. Everyone had a relative that worked at Brora at one stage or another, so we were all delighted to see it back,” he says. “When my dad came down, he was overcome with emotion.”


In its past, Brora was called upon to create a number of different styles for blending, so its flavour profile is famously protean. In the late 1970s, it was highly peated, but by the early 1980s it had become more refined. Yet, the signature flavour is a scented wax note — often likened to church candles or beeswax — which is almost unique. To recapture that, says Bowman, has been their hardest task.

A view of Loch Brora with the Highland hills in the background
A view of Loch Brora. Turning on the taps again does not seem to have diminished demand: the latest figures from Rare Whisky 101 index show Brora values up 34 per cent in the year to date © Robert Birtles

It will be 10, maybe 12, years before the first new-gen Brora is released. But the vagaries of whisky maturation mean it may be decades before they really know if they’re on the right track. “We know an awful lot of the science and technology of making whisky, but there are still elements we don’t understand,” says Bowman. “You can get the recipe right but it’s not just a case of ABC. There’s also a kind of magic to it. Which is why keeping everything as true as possible in the resurrection of this distillery has been so important.”

Diageo won’t disclose how much of the original Brora stocks remains, but it’s precious little. And the fact that even the youngest whisky still in cask is 38 years old means that stock will soon be past its prime. So, in the meantime, there will be releases, though very few, and at increasingly high prices.

To mark the relaunch of the distillery, Brora released a triptych of vintages from the 1970s and 1980s for £30,000. The distillery tour isn’t cheap either: priced at £300, rising to £600 for a deluxe version, it has prompted some to accuse Diageo of turning its back on grassroots fans.

The distillery’s interior
Brora has revived the original copper pot stills integral to shaping its whisky’s character. But it will be at least 10 years before the new-gen spirit is released, and decades before the distillery knows if it’s on the right track © Robert Birtles

“I worry that the real whisky lovers, the people who made Brora and Port Ellen what they are today, who really understand those whiskies, will end up being omitted from the plan,” says Sukhinder Singh, boss of specialist malt retailer The Whisky Exchange (where, incidentally, you can buy a bottle of 1972 Brora for £10,000). “I really think they need to rethink that.”


Diageo now has its eye on the relaunch of Port Ellen, which is due to be reopened on its original site on the Hebridean island of Islay in spring 2023. Much of the old distillery was demolished after its closure in 1983, so this incarnation will be a hybrid of past and present. The whitewashed warehouses will remain but the still house will be built from scratch. It will contain one pair of stills designed to recreate, exactly, the rich, peaty style of whisky that Port Ellen was famous for. And it will have another state-of-the-art pair dedicated to making more experimental expressions.

Islay whiskies have never been short on glamour. Those from the Lowlands, by contrast, have sometimes struggled to find the limelight. Which means that the resurrection of Rosebank, in Falkirk, promises to be an important moment not just for owner Ian Macleod Distillers, but Lowland whiskies as a whole.

Triple- rather than double-distilled, in line with local tradition, Rosebank is a malt that royally lays waste to the idea that Lowland whiskies lack gravitas. Elegant yet powerful, it is unique for retaining a meadowy freshness and suppleness, even at a great age. The challenge for the canalside distillery will be to reproduce that, while also providing a shot in the arm for the local economy. Ian Macleod has promised to create 25 full-time jobs and attract 50,000 visitors to the town a year.

And the revivalist spirit is also aflame in Japan. This month, the newly formed Karuizawa Distillers will break ground on the Komoro Distillery, a $15m tribute to Karuizawa, a lionised ghost distillery that operated in the area until 2001, after which it was demolished.

In the past 10 years, Karuizawa’s old stocks have been sold at auction for some of the highest prices ever. But when I correspond with co-founder Koji Shimaoka, a former managing director at Citibank Japan, it is clear this project is about more than simply cashing in on the distillery’s reputation.

FT Weekend Festival

The festival is back and in person at Kenwood House (and online) on September 4 with our usual eclectic line-up of speakers and subjects. Infusing it all will be the spirit of reawakening and the possibility of reimagining the world after the pandemic. To book tickets, visit here

“I have seen the iconic Karuizawa Distillery rise and fall,” he says. “And as a whisky lover and a local resident in Karuizawa, I feel obliged to protect its legacy and create a new legend in this beautiful area at the foothills of Mount Asama.”

Part of the ghost distilleries’ allure has always been that their stocks are finite. But turning on the taps again does not seem to have diminished demand so far. Quite the opposite. The latest figures from Rare Whisky 101 index, which tracks the performance of the top 1,000 bottles at auction, show Brora values up 34 per cent year to date and Port Ellen not far behind.

If the tale of the ghost distilleries teaches us anything, it’s that whisky is a long game. How will this one play out? Come back to me in 20 years.

Alice Lascelles is an FT contributing editor and writes the drinks column for FT How To Spend It. Follow Alice on Twitter @Alice Lascelles

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How to create a non-fungible token | by BBCStaticMiner | The capital | Jul 2021



Ultimate Guide

Earn daily thanks to the shared benefits of returns from mining pools. Collect crypto today. No hidden costs,
no minimum balance and no delay.

The world of Non-fungible tokens (NFT) offers a golden opportunity for entrepreneurs to maximize the traction of their business. They have a skyrocketing market cap of $ 22.25 billion and a daily trading volume of $ 2.68 billion, according to CoinMarketCap.com. Therefore, trading in crypto collectibles is a profitable investment. We can’t wait to share the same with you! So, stay tuned to learn more about the development of non-fungible tokens.

It is a unique type of collectible crypto with characteristics such as immutability and non-interchangeability. NFTs are created on blockchain networks like Binance Smart Chain, Cardano, Cosmos, Ethereum, EOS, Flow, Polkadot, and TRON.

Millions of dollars are earned by artists, content creators, fashion designers, game developers, filmmakers, meme makers, photographers, and sportspeople by selling their work for a high price in many markets. NFT. Crypto collectibles are the subject of aggressive offers from interested investors, resulting in an increase in their selling price.

Some big players like Binance, BuyuCoin, Collectible, eBay, Fox, Light Media, NewAuction (NAU), NFTmall, Rowket Market, Ticketmaster, VANCAT and xSigma have also announced the launch of their own NFT sales platforms in the future. This will lead to strong competition in the crypto industry.

In addition, NFTs have also eliminated the cumbersome role of middlemen / middlemen in the system. Content creators can set their own price for the work without paying any brokerage or commission to anyone.

  • Ideally, artists and designers should develop their NFTs – on the robust Ethereum blockchain network. It has a sturdy frame and supports different Dapps and DeFi projects.
  • Content creators should follow guidelines – and the rules of the ERC-721 and ERC-1155 Non-Fungible Token standards.
  • ERC-721 implements an API – for all tokens held in secure smart contracts. It contains details such as the token ID and the unique address of the token pair.
  • ERC-1155 is a multi-token standard – where each NFT has its own metadata and provisioning. It consists of different token transfer rules (single and batch).
  • They must set up a digital wallet compatible with crypto – like the Coinbase wallet, MetaMask, MyEtherWallet and the Trust wallet.
  • Artists who own fiat currency can convert them – in Ether cryptocurrency (ETH) by registering on Binance and Coinbase.
  • Content creators will undergo KYC / AML verification – when registering on the NFT marketplace.
  • They need to link their digital wallets – on the NFT market by entering details such as Etherum wallet number and total funds in it.
  • Some of the popular supported by Ethereum – Collectible crypto sales platforms are Mintable.app, OpenSea and Rarible.
  • They have to upload their unique work – in the form of images (JPEG) and videos (Mp3 and Mp4) on the NFT marketplace.
  • The online platform will be automatically hit – the precious NFT.
  • Creator can add details like – accepted payment methods, banner image, description and price of their digital collectible.
  • The NFT is listed – on the online sales marketplace.
  • Once the crypto collectible is sold – for an investor, content creators have to pay various expenses such as auction fees, commission on the sale, typing fees and transaction processing fees on the NFT marketplace.

THETA

Unquestionably, it has the largest market cap of $ 8.46 billion and a total supply of $ 1 billion. THETA is a 100% decentralized video streaming network launched in 2018. Content creators will earn more revenue from the native THETA crypto token through peer-to-peer (P2P) transactions. Apart from this, video viewers will receive Theta Fuel Token (TFUEL) rewards.

Chiliz (CHZ)

Priced at just $ 0.36, the Chiliz NFT has the second largest market cap ($ 2.14 billion) in the industry. CHZ acts as a digital currency for the entertainment and sports industries.

Fans can purchase the Chiliz crypto collection and get perks like decision-making powers and voting rights. Finally, users can buy them from exchanges like Binance, Bitpanda, HBTC, and Mercado.

Decentralized (MANA)

The MANA NFT costs just $ 0.97. It has a daily trading volume of $ 254.14 million with a total supply of $ 1.58 billion. The Decentraland (MANA) NFT is created on the Ethereum based smart contract.

Investors can use NFTs to play interactive games, buy virtual property, and also experience 3D and virtual reality (VR). Buyers can also purchase LAND tokens with MANA. The Decentraland gaming world acts as a huge metaverse that increases revenue for content creators.

Investors earn high returns by monetizing their LAND tokens through advertising, renting, and offering paid experiences to other platform users.

Digital collectibles are sold as artwork, domain names, fashion accessories, games, metaverse, memes, music, photos, software licenses, items sports, trading cards, tweets, videos and virtual properties on the market.

Crypto collectibles are also heavily influencing different industries like e-commerce, entertainment, gaming, social media, and sports.

According to Non-Fungible.com, NFT’s sales reached a whopping $ 30.53 million with 10,311 primary sales and 7,930 secondary sales in the market. According to data provided by CoinRanking.com, there are a whopping 705,691 different crypto-collectibles.

More and more auction houses, art galleries, B2B companies, celebrities, crypto exchanges, e-commerce platforms, entertainment companies, game companies and teams Sports are also launching their brand new NFT marketplaces. Mostly, it indicates a high level of interest and the possibility of making a huge profit.

Venture Capitalists (VCs) also support the business ideas of innovative entrepreneurs due to the favorable market conditions for trading NFT on online platforms.

Buyers of non-fungible tokens (NFTs) can make a big profit by selling them in different secondary markets. In addition, sellers of crypto collectibles earn income from many sources such as sales (primary, secondary, and private) and royalties for each resale.

Entrepreneurs who own NFT marketplaces earn their income from auction fees, initial setup fees, listing fees, typing fees, selling multiple digital collectibles at the same time, and transaction processing fees. .

Non-fungible tokens generate a lot of carbon emissions when minted on many blockchain networks. Nonetheless, NFT markets attempt to use renewable energy to provide electricity to miners.

Therefore, contractors must reduce energy consumption during tenders, cancellations, sales and transfer of ownership of DTVs.

Nifty Gateway, a leading NFT market, has announced its intention to go carbon negative by improving its technology. Artists and investors can find out their carbon emissions from their Ethereum wallets using a tool designed by Offsetra.

Additionally, compute energy usage will be reduced by 99% once Ethereum fully switches from Proof of Work (PoW) consensus mechanism to Proof of Stake (PoS) on its new Ethereum 2.0 release. Subsequently, other alternatives such as side chains (Palm) and Layer 2 transactions can also reduce the overall impact on the environment.

The main NFT markets in terms of sales are CryptoKitties, Sorare, Ethereum Name Service (ENS), Decentraland, and MegaCryptoPolis. Without a doubt, the popular NFT markets in terms of trading volume are Decentraland, Sorare, CryptoPunks, Meebits, and SuperRare. Entrepreneurs can create a new NFT market platform like Best NFT Markets.

The most expensive NFTs sold on the market were the CryptoPunks Portrait Collection ($ 16.9 million), Death Dip ($ 1.79 million on SuperRare), Metarift ($ 905,236 on MakersPlace), Reflection (869,487 $ on SuperRare), Noriko Soramoto ($ 618,575 on Rarible) and CHÈVRE ($ 597,142 on MakersPlace).

Without a doubt, 2021 will see new NFT projects and new records in the crypto industry. A new revenue sharing agreement has come out in the market due to DTV. Additionally, the future of crypto collectibles will depend on copyright infringement, duplication, and tax laws related to trade and transactions.

Unlike building crypto collectibles from scratch, entrepreneurs can go to a highly skilled non-fungible token development company and carve out a niche in the burgeoning market.

They can get services like creating white label cloning solutions based on ERC-721 and ERC-1155 of NFT markets, onboarding of potential investors, onboarding of digital portfolios and NFT marketing. Therefore, progressive entrepreneurs can advance in the industry by initiating the development of non-fungible tokens.



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What growing avocados in Sicily tells us about climate change and the future of food



At the fertile foothills of Mount Etna, Andrea Passanisi surveys his avocado grove under Sicily’s blue skies. He started growing the tropical fruit in what used to be his grandfather’s vineyard and, helped by the warming climate, is now sending his produce across Europe. 

Passanisi discovered a love for avocados on a trip to Brazil as a teenager two decades ago, and decided on his return home to experiment with growing them in Sicily. Abandoning plans to become a lawyer, he converted his grandfather’s land and started to farm avocados as well as passion fruit and lychees, alongside longstanding lemon trees.

“My grandfather grew wine grapes but it’s become too hot because of climate change. This side of the mountain is too hot for grapes, you have to go further up,” he says. But it has proven to be perfect for tropical fruits, which has led entrepreneurial growers to turn to produce including avocados and mangos.

Climate change is shifting the frontiers of where food is grown as farmers and agricultural businesses adapt to warmer temperatures around the world. While in some regions heat and drought are threatening the cultivation of certain crops, raising food security concerns, in others, the warming climate has allowed growers to cultivate new crops and varieties which in previous decades would have been difficult to produce profitably.

Andrea Passanisi started growing avocados in Sicily two decades ago after a trip to Brazil © Sicilia Avocado

The 37-year-old is among several growers in Sicily turning to tropical fruits. Global warming has sparked a 1C increase in the island’s temperature over the past 30 years, according to Francesco Viola, associate professor at the University of Cagliari, who has researched the island’s climate and the Mediterranean ecosystem.

Many farmers in Italy are grappling with a heatwave, after temperatures hit 45C in parts of the south of the country in June, part of a long-term shift, says Ettore Prandini, president of Coldiretti, Italy’s farmers union. “Every year we see longer periods with high intense temperature and tropical weather,” he says.

From the mangoes, avocados and bananas that grow alongside oranges and lemons in the south to olive oil from trees growing in the Alpine mountains in the north, the frontiers of crops in Italy are shifting, says Prandini. Italian farmers have seized “the opportunities, as evidenced by the arrival of the first tropical fruit crops in Sicily and the cultivation of olive trees in the Alpine valleys in Lombardy,” he says.

Many farmers who have not been able to grasp that opportunity have gone out of business over the past 10 years, says the union.

With high levels of rainfall and humidity, Passanisi has found that the microclimate of Giarre, where his farm is located, is ideal for tropical fruits. Now producing about 1,400 tonnes of avocados a year, he is exporting his fruit along with fellow Sicilian farmers, who joined the sector encouraged by his success.

Many studies of how climate change is affecting different crop yields show that viticulture — the cultivation of grapevines — is an area where warming temperatures are reshaping the wine-growing map.

Wine grapes are like the “canary in the coal mine for climate change” because of their responsiveness to temperature shifts, say researchers.

“They are among the most phenologically sensitive crops,” says Elizabeth Wolkovich, associate professor at the University of British Columbia, Canada. According to her research with colleagues, 2C of global warming in the coming years would render 56 per cent of the world’s wine-growing areas unsuitable. 

How climate change will affect where crops are grown. Animated maps showing where wheat, corn and rice were grown on average during 1960-1990 and where the crops are likely to be able to grow in 2070. Based on level of agreement between different climate models, using the business as usual emissions scenario, RCP8.5

Food’s new frontiers

The frontiers for grapes grown for wine have shifted north both in Europe and North America. Canada, for example, has made big strides as a pinot noir producer, say wine connoisseurs. Ontario’s Niagara Peninsula and British Columbia’s Okanagan Valley are leading the way, according to Mark Thornton, a London-based wine curator.

“Pinot noir is an extremely temperamental grape,” says Thornton, adding that the rising temperatures have meant that the quality of wine produced in Canada has “improved tremendously”. “In the Okanagan Valley, the number of wineries has grown from around two dozen in 1990 to over 200 now.”

The UK, along with countries such as Denmark, is now part of the northern wine frontier in Europe. Henry Warde, whose family has been farming in Kent, south of London, for 300 years, turned part of his 2,500-acre farming estate into vineyards in 2006 after a visit from French champagne house Duval-Leroy.

Pinot Noir vines at the Mission Hill winery in the Okanagan Valley British Columbia Canada
Mission Hill winery in the Okanagan Valley, British Columbia. The Canadian region has seen a boom in pinot noir vineyards as temperatures have risen © David Pearson/Alamy

After a scorching summer in France in 2003 led to overripe grapes, champagne makers started looking for alternative areas to produce grapes. “The soil in Kent is similar to champagne soil and they liked the climate conditions,” says Warde. After doing full due diligence of the Warde family’s Squerryes estate, the champagne house pulled out, which led to Warde and his father deciding to plant vines themselves. “We haven’t looked back since,” he says.

Warde says when his 81-year-old father started farming in 1963, they would harvest grains from early to mid-September. This has been pulled forward by about eight weeks, stretching from July to the beginning of August. Average temperatures in the south-east and central England for the past 30 years are almost 1C higher than that of 1961-1990, according to data from the UK’s Met Office.

Centuries of grape harvesting data make it easy to spot the climatic changes. Big shifts happened during the Medieval Warm Period (950 to 1250AD), and the Little Ice Age that followed, as well as the period after volcanic blasts in Indonesia in the 1800s. But none of those have had the same impact on harvests as the events of the past 40 years, says Wolkovich. Higher temperatures have meant much earlier harvests, and the trend is “dramatic”, she says, adding that “it’s a train that’s gone off the track”. 

Henry Warde at his Squerryes vineyard in Kent
Henry Warde converted part of his 2,500-acre Kent estate, Squerryes, into a champagne grape vineyard in 2006 © Hannah Patterson/Key & Quill

The changing climate led some champagne houses to invest significantly in southern England over recent years. Vranken-Pommery has a vineyard in Hampshire while Tattinger has set up a winery in Kent. The UK industry has seen numerous new entrants, most of them offering sparkling wines, and vineyard acreage has quadrupled since 2000, according to WineGB, an industry association.

If warming and emissions continue at current rates, Britain could be 5C hotter by the end of the century, according to Paul Ritchie, a scientist at Exeter University who researched UK agricultural land use changes amid unmitigated climate change. While the climate is expected to become hotter and drier, higher CO2 levels and photosynthesis activity in plants could mean that overall growth in crop productivity could increase in the UK, he says.

Russia’s emergence as the world’s largest wheat producer is partly due to climate change. With milder winters, farmers have been able to plant more winter wheat, sown in the autumn and harvested the following summer, which has higher yields than spring wheat, according to Andrey Sizov, managing director of SovEcon, a Moscow agriculture consultancy. 

Russia has been consistently producing more than 60m tonnes a year of wheat since 2015, becoming the number one grower and exporter. “[Warming temperatures] are the biggest drivers of increased production in Russia,” he says.

The UK’s vineyards continue to grow. Charts showing Total hectares and Wine production (million bottles). Wine production and land use has grown steadily since 1989, with 3,500 hectares and over 10m bottles produced in 2019

When Evgeniy Agoshkin heard from a friend three or four years ago that he was moving north to grow wheat from the Central Black Earth region, the bread basket of Russia, he thought the friend was crazy. “He said, ‘you know, here, it’s very risky’,” says the Russian agricultural business owner, who until recently grew grains in Voronezh, in the south of the country.

However, after several tough years with low levels of rain leading to falling wheat production, Agoshkin has sold his farm and decided to follow his friend north to Ulyanovsk, 850km east of Moscow. He has bought just under 25,000 acres in Ulyanovsk to grow crops, pointing to the government’s agricultural statistics which show rising harvests in the country’s northern areas.

Climate change has led to the large-scale melting of permafrost in the north of Russia, while temperature increases have outpaced global averages, with Siberia experiencing record levels last year.

“Climate change is not just talk. I was sceptical initially and thought it was a news topic. I thought that there was no problem. But I’ve noticed the weather is becoming less predicable and precipitation is lower,” Agoshkin says.

A combine harvester drives through a wheat field during the summer harvest on a farm in Tersky village, near Stavropol, southern Russia
Wheat production near Stavropol, southern Russia. The country has become the number one grower and exporter of the grain © Andrey Rudakov/Bloomberg

‘Climate bomb’ threat

Two countries — Canada and Russia — account for more than half of new global agricultural frontiers, according to a study published by the Public Library of Science, a non-profit publisher.

“Agriculture has been limited by climate but we’ll see a huge expansion over the next century,” says Lee Hannah, lead author of the paper and a senior researcher at the environmental NGO Conservation International. “Agriculture is going to be shifting across the face of the world . . . The big change is expansion in Russia and Canada.”

Growing crops in these areas will increase global food production, important given that some experts calculate that the world will need 70 per cent more by 2050 to feed a population expected to increase by 2bn over the next 30 years. But, Hannah warns, it could also unleash a “climate bomb” with the release of additional greenhouse gases from the previously untouched peaty soil. The impact on water and biodiversity will also be devastating, he adds.

How climate change will affect where crops are grown. Map showing areas that move from no current suitability for major commodity crops to suitability by  level of agreement between different climate models, using the business as usual emissions scenario, RCP8.5

Hannah, who has been researching the climate change impact on crops such as coffee and wine as well as bees, which are crucial to agriculture, says the emissions impact will come down to Russia and Canada. “You only have to get policies right in two places. Stop seeing these northern areas as wastelands that need to be subsidised to be developed,” he says.

Governments need to start focusing on sustainable development, otherwise “we’re costing ourselves”, he adds. “There is a responsible [way to] increase food production that minimises climate change damage, and there is unplanned, irresponsible [subsidised] agricultural sprawl that endangers the planet. We want the former!”

Researchers warn that the shift in the climate will have a disproportionate impact on the food security of poorer countries. Many of those nations that never experienced the “Green revolution” of the 1960s — when crop output in developing countries increased thanks to new varieties and a wider use of pesticides and fertilisers — will be hit the hardest, says Paolo Agnolucci, a researcher in energy and resources at University College London.

Egyptian farmers harvest wheat in Saqiyat al-Manqadi village in the northern Nile Delta
Egyptian farmers harvest wheat in the northern Nile delta. A rise in temperature of 1C would lead to a fall in crop yields of 7 per cent in Egypt, a large wheat consumer. © Mohamed El Shahed/AFP via Getty Images

Using data models for 18 crops, including wheat, corn and rice, Agnolucci and his colleagues found that countries which already enjoyed high yields for a certain crop tended to benefit from a 1C rise in temperature, while countries with a less efficient agricultural sector will be hit harder. Wheat production in Germany, for example, would rise about 3 per cent if temperatures rose 1C, but would fall about 7 per cent in Egypt, a large wheat consumer.

“These are exactly the results we didn’t want to see,” he says, adding that to avoid a food security crisis, technology and skill transfers as well as funding for smallholder farmers would be crucial for these countries and “should be part of the policy discussions”.

Back in Italy, while climate change has brought its benefits to some farmers, it has also wreaked havoc on the livelihoods of others.

“The increase in temperatures is changing our work with the crazy seasons and extreme weather events [which are becoming] more and more frequent,” says Coldiretti’s Prandini, adding that in 2020 “there were on average four extreme weather events per day in Italy including storms, hail, heatwaves and tornadoes”.

Sicilian avocado farmer Passanisi says that dealing with the new climate uncertainties is tough. “It manifests itself with the seasons that do not respect their [own] characteristics,” he says, noting that the “winter” in Sicily, which used to arrive in December, now comes in February, and the autumn rains were now coming months before that. “I started the idea [of growing tropical fruits] with climate change in mind, but then I realised the uncertainties that climate change [brings],” he says. 

The Mediterranean is a climate change hotspot, with southern European to north African countries facing severe declines in rainfall over the next few decades, according to scientists. 

“Temperatures in Sicily have been increasing, but at the same time, there has been a decrease in rainfall. The increase in temperatures means you can grow tropical fruits like mango or kiwi, but these crops are very water demanding.” With some exceptions, Sicily’s agricultural areas need irrigation, presenting a big problem, says Viola.

A farmer waits for rain on his drought-hit paddy field in Morigoan, in India’s northeastern Assam state
Droughts such as this one in Assam, India, threaten the cultivation of crops while world population continues to boom © AFP via Getty Images

At the Kent wine estate, Warde is also wary of unpredictable weather patterns after an unusually cold start to spring in the UK, followed by a month of rain.

Yet he remains sanguine about the volatility. “We’re learning all the time,” he says, adding: “You have an extremely cold April, and a wet May, but you put that into a milkshake machine, and as my father says, ‘it all evens out in the end’.”

He remains confident of the long-term future of the business, noting: “I wouldn’t have planted the vines if I didn’t think it was going to be around for the next 100 years.” 



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Bitcoin ATM Stolen in Canada; accused suspect, second wanted man: Bitcoin



A community dedicated to Bitcoin, the Internet currency. Bitcoin is a decentralized digital currency, distributed around the world. Bitcoins are issued and managed without any central authority: there is no government, company or bank in charge of Bitcoin. You might be interested in Bitcoin if you are into cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, although people of all political philosophies are welcome.



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Northern France takes center stage in politics ahead of 2022 elections



Last month, Emmanuel Macron trumpeted a new electric battery factory for the former coal mining region of northern France. Only problem: the local politician and presidential candidate Xavier Bertrand had already made the announcement three days earlier.

In what amounted to his first re-election campaign speech, Macron then highlighted the need for France to “reindustrialize” and said he hoped electric battery projects in Hauts-de-France heralded “ massive investments in the transformation of the automotive industry ”.

“It is not the speeches that count, the real question is to know what is really done,” commented Bertrand, former center-right Minister of Health who has headed the regional council since 2015.

Less than a year from the presidential elections, the political standoff Hauts-de-France reflects how the issue of reindustrialization has taken center stage in the countryside, as the region becomes a test for the rehabilitation of mainstream politics.

Marine Le Pen’s far-right party has found fertile ground in the once left-wing province, which has France’s highest unemployment rate at 9.4%. the National Gathering leader, who according to opinion polls will garner enough votes to qualify for the second round of presidential elections next spring, has recorded some of the his biggest electoral victories there.

Hauts-de-France is an obvious choice for battery projects. The French automobile industry has invested heavily in it from the end of the 60s, which made it possible to partially offset the drop in mining and steelmaking activities. But manufacturing has increasingly been outsourced to cheaper factories in emerging markets and jobs have leaked. Now that automakers face antitrust scrutiny and EU emissions regulations, factories are under threat again.

The northern region around Lille has recorded the second highest number of net factory closures in the past 12 years among French regions, according to data compiled by Trendeo, a Paris-based consulting firm. Between 2006 and 2016, the region’s industrial sector lost more than a quarter of its workforce, the largest drop recorded in mainland France, said Insee, the French statistical agency.

Net bar graph of closed and open factories, 2009-2021 showing Hauts de France experienced the second highest number of factory closures

But there are tentative signs of improvement: Factory closures have slowed over the past three years. Hauts-de-France has also been among the top destinations for foreign direct investment since 2014, and has the highest number of jobs created per capita by FDI, according to Business France, a government agency.

Analysts say that while Macron’s presidency and Bertrand’s local efforts have yet to reverse the region’s industrial decline, the rise of the far-right in the poorest province and the emergence of the yellow vests protests made it the subject of greater financial and political attention.

At the head of a highly centralized administration, Macron deserved most of the credit for injecting money into new industries, notably batteries and hydrogen, by cutting red tape and “begging the EU” to take industrial autonomy more seriously, said Elie Cohen, senior economist. at the National Center for Scientific Research.

Its efforts to bring production back to France gained popularity during the pandemic, as logistics and supply issues emerged in industries such as drugs, medical equipment, and manufacturing components, including semi-trailers. conductors.

Column chart of net plant openings and closures in Hauts de France showing The number of new plants has increased since 2014

These efforts were supplemented by funding and training provided by the regional council chaired by Bertrand. He “got his hands dirty” while struggling to attract businesses and give them autonomy once they arrived, according to Jean-Luis Guérin, economist and director of Finorpa, a local private equity firm.

In the city of Douvrin, in the north of the country, an electric battery joint venture between the automaker Stellantis and the French energy group Total, called Automotives Cell Company (ACC), is due to start producing batteries at the end of 2023, thus creating 1,400 to 2,000 jobs by 2030. The State and the region have invested 1.2 billion euros and 120 million euros respectively, according to Yann Vincent, managing director of the joint venture.

Batteries for electric vehicles have become a state priority because Europe “cannot be in the hands of China,” which currently dominates the market, said Vincent.

Whatever gains are made, the turnaround is fragile, say economists. They indicate a drop in net foreign direct investment in France during last year’s pandemic. Some argue that this should prompt a rethinking of France’s centralized policy.

Column chart in € (bn) showing that foreign direct investment in France is at its lowest since 2014

The country’s “top-down” strategy of pumping money into big companies like Stellantis has not done enough to help small businesses grow, said Daniela Ordonez, of Oxford Economics. France has been “too paternalistic” in the way it chooses which industries to support.

“Trade in industrial products is deteriorating every month, our market share in world exports is deteriorating every quarter,” said Patrick Artus, chief economist at Natixis. “If you continue to create only bad jobs, even if you reduce unemployment, you will have more yellow vests. “

Meanwhile, for Fabrice Jamart, 40, member of the CGT union at the Stellantis factory, talking about state policy and new industries escapes the more immediate risks of job losses. Looking out the window of his makeshift office outside the factory, he said, “Hope is good, but hope doesn’t put food in my fridge.”



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