More on Technology
Paul DelSignore
2 years ago
The stunning new free AI image tool is called Leonardo AI.
Leonardo—The New Midjourney?
Users are comparing the new cowboy to Midjourney.
Leonardo.AI creates great photographs and has several unique capabilities I haven't seen in other AI image systems.
Midjourney's quality photographs are evident in the community feed.
Create Pictures Using Models
You can make graphics using platform models when you first enter the app (website):
Luma, Leonardo creative, Deliberate 1.1.
Clicking a model displays its description and samples:
Click Generate With This Model.
Then you can add your prompt, alter models, photos, sizes, and guide scale in a sleek UI.
Changing Pictures
Leonardo's Canvas editor lets you change created images by hovering over them:
The editor opens with masking, erasing, and picture download.
Develop Your Own Models
I've never seen anything like Leonardo's model training feature.
Upload a handful of similar photographs and save them as a model for future images. Share your model with the community.
You can make photos using your own model and a community-shared set of fine-tuned models:
Obtain Leonardo access
Leonardo is currently free.
Visit Leonardo.ai and click "Get Early Access" to receive access.
Add your email to receive a link to join the discord channel. Simply describe yourself and fill out a form to join the discord channel.
Please go to 👑│introductions to make an introduction and ✨│priority-early-access will be unlocked, you must fill out a form and in 24 hours or a little more (due to demand), the invitation will be sent to you by email.
I got access in two hours, so hopefully you can too.
Last Words
I know there are many AI generative platforms, some free and some expensive, but Midjourney produces the most artistically stunning images and art.
Leonardo is the closest I've seen to Midjourney, but Midjourney is still the leader.
It's free now.
Leonardo's fine-tuned model selections, model creation, image manipulation, and output speed and quality make it a great AI image toolbox addition.
CyberPunkMetalHead
2 years ago
I made ChatGPT copy itself.
OpenAI's ChatGPT is an amazing AI-powered chatbot. It can write poetry, stories, and marketing campaigns, and it's also adept at coding. ChatGPT's coding is so amazing that it replicated itself. What happened:
Me: Hi
Hello! Can I help? I'll answer any inquiries you have.
Me: Build a python and flask AI chatbot that responds to user messages on the frontend.
CGPT:
from flask import Flask, request, jsonify
import openai
openai.api_key = "YOUR_API_KEY"
@app.route('/chatbot', methods=['POST'])
def chatbot():
user_message = request.get_json()['message']
response = chatbot_response(user_message)
return jsonify({'response': response})
def chatbot_response(user_message):
response = openai.Completion.create(
engine="text-davinci-002",
prompt=user_message,
max_tokens=1024,
n = 1,
temperature=0.5
)
return response['choices'][0]['text']
if __name__ == '__main__':
app.run()To integrate a chatbot with a frontend, use Flask to serve an HTML page with a form for user messages and the chatbot's answer. AJAX can submit the form to the /chatbot route, and JavaScript can show the chatbot's response.
I imported code snippets at the top of the file.
Let's add a frontend interface, I said.
CGPT:
<!DOCTYPE html>
<html>
<head>
<title>AI Chatbot</title>
</head>
<body>
<h1>AI Chatbot</h1>
<form id="chatbot-form">
<label for="message">Message:</label><br>
<input type="text" id="message" name="message"><br>
<input type="submit" value="Submit">
</form>
<div id="chatbot-response"></div>
<script src="https://ajax.googleapis.com/ajax/libs/jquery/3.5.1/jquery.min.js"></script>
<script>
$(document).ready(function() {
$("#chatbot-form").submit(function(e) {
e.preventDefault();
var userMessage = $("#message").val();
$.ajax({
type: "POST",
url: "/chatbot",
data: JSON.stringify({message: userMessage}),
contentType: "application/json; charset=utf-8",
dataType: "json",
success: function(response) {
$("#chatbot-response").text(response.response);
}
});
});
});
</script>
</body>
</html>To serve this HTML page using Flask, build a new route that returns the page as a GET response.
So far, so good.
Looked quite basic so I got chatGPT to add some tailwind to the project.
Me: Tailwind the chatbot.html page, please. Give it a futuristic style with purple and neon
After a few more prompts, Talk GPT aligned the form to the center, changed some colors, and added padding.
CGPT:
<!DOCTYPE html>
<html>
<head>
<title>AI Chatbot</title>
<link href="https://unpkg.com/tailwindcss@^1.0/dist/tailwind.min.css" rel="stylesheet">
</head>
<body class="bg-black flex flex-col justify-center items-center">
<h1 class="sm:text-center text-purple-500">AI Chatbot</h1>
<form id="chatbot-form" class="border-purple-500 bg-purple-800 rounded">
<label for="message">Message:</label><br>
<input type="text" id="message" name="message" class="min-w-30 rounded"><br>
<input type="submit" value="Submit" class="bg-purple-500 border-red-500 transform hover:scale-110 rounded">
</form>
<div class="flex justify-center">
<div id="chatbot-response" class="text-white rounded"></div>
</div>
<script src="https://ajax.googleapis.com/ajax/libs/jquery/3.5.1/jquery.min.js"></script>
<script>
var colors = ['red', 'orange', 'yellow', 'green', 'blue', 'indigo', 'violet'];
var colorIndex = 0;
$(document).ready(function() {
setInterval(function() {
$("#chatbot-form").css('border-color', colors[colorIndex]);
colorIndex = (colorIndex + 1) % colors.length;
}, 1000);
$("#chatbot-form").submit(function(e) {
e.preventDefault();
var userMessage = $("#message").val();
$.ajax({
type: "POST",
url: "/chatbot",
data: JSON.stringify({message: userMessage}),
contentType: "application/json; charset=utf-8",
dataType: "json",
success: function(response) {
$("#chatbot-response").text(response.response);
}
});
});
});
</script>
</body>
</html>Improved:
A few more prompts like “Add more vertical and horizontal padding to the submit button and vertical margin, and vertically align this file's body.”
The result:
Is it effective? Now, I'll chat with ChatGPT's AI Chatbot. I intervened minimally throughout construction. Chat GPT created numerous files, connected and interacted with its own API, and presented the user request response on the front end by itself.
Me to AI Chatbot: Hey, can you give me 6 name suggestions for a black horse?
Me to AI Chatbot: Write a poem in the style of Jim Morrison. Make sure to mention cacti and black holes
ChatGPTs Chatbot:
In the desert night, I am confronted by cacti,
Their arms reaching out, As if to grab me and take me away.
The stars in the sky, Beckon me to come,
To a world of black holes, Where I can be free.
I am in a trance, My body and mind,
In a state of limbo, As I wander the night.
I hear a voice, Calling me to the unknown,
I cannot resist, The lure of the black hole.
The cacti watch, As I take my leave,
To a place of mystery, Where I can find peace.
Of course, the next question I gave it was to build a chatbot!
Me: Build a python and flask AI chatbot that responds to user messages on the frontend.
ChatbotGPTs:
import os from flask
import Flask, request, jsonify
from chatterbot
import ChatBot
from chatterbot.trainers
import ListTrainer
# Create a new chatbot
bot = ChatBot(
"My Bot",
storage_adapter="chatterbot.storage.SQLStorageAdapter",
logic_adapters=[
"chatterbot.logic.BestMatch",
{ "import_path": "chatterbot.logic.BestMatch",
"statement_comparison_function": "chatterbot.comparisons.levenshtein_distance",
"response_selection_method": "chatterbot.response_selection.get_first_response" }
],
database_uri="sqlite:///database.sqlite3" )
# Train the chatbot with a few sample conversations
conversation = [ "Hello", "Hi there!", "How are you doing?", "I'm doing great.", "That is good to hear", "Thank you.", "You're welcome." ]
trainer = ListTrainer(bot) trainer.train(conversation)
# Create a Flask app
app = Flask(__name__)
# Define a route for the default URL
@app.route("/") def index(): return "<h1>Chatbot</h1>"
# Define a route for the /get_response URL
@app.route("/get_response", methods=["POST"])
def get_response():
# Get the user's message
user_message = request.form["user_message"]
# Get the bot's response
bot_response = bot.get_response(user_message)
# Return the bot's response
return str(bot_response)
# Run the Flask
app if __name__ == "__main__": app.run()No matter how many times I tried, the second generation always used chatterbot instead of the ChatGPT API. Even when I told it to use the ChatGPT API, it didn't.
ChatGTP's ability to reproduce or construct other machine learning algorithms is interesting and possibly terrifying. Nothing prevents ChatGPT from replicating itself ad infinitum throughout the Internet other than a lack of desire. This may be the first time a machine repeats itself, so I've preserved the project as a reference. Adding a requirements.txt file and python env for easier deployment is the only change to the code.
I hope you enjoyed this.
M.G. Siegler
2 years ago
G3nerative
Generative AI hype: some thoughts
The sudden surge in "generative AI" startups and projects feels like the inverse of the recent "web3" boom. Both came from hyped-up pots. But while web3 hyped idealistic tech and an easy way to make money, generative AI hypes unsettling tech and questions whether it can be used to make money.
Web3 is technology looking for problems to solve, while generative AI is technology creating almost too many solutions. Web3 has been evangelists trying to solve old problems with new technology. As Generative AI evolves, users are resolving old problems in stunning new ways.
It's a jab at web3, but it's true. Web3's hype, including crypto, was unhealthy. Always expected a tech crash and shakeout. Tech that won't look like "web3" but will enhance "web2"
But that doesn't mean AI hype is healthy. There'll be plenty of bullshit here, too. As moths to a flame, hype attracts charlatans. Again, the difference is the different starting point. People want to use it. Try it.
With the beta launch of Dall-E 2 earlier this year, a new class of consumer product took off. Midjourney followed suit (despite having to jump through the Discord server hoops). Twelve more generative art projects. Lensa, Prisma Labs' generative AI self-portrait project, may have topped the hype (a startup which has actually been going after this general space for quite a while). This week, ChatGPT went off-topic.
This has a "fake-it-till-you-make-it" vibe. We give these projects too much credit because they create easy illusions. This also unlocks new forms of creativity. And faith in new possibilities.
As a user, it's thrilling. We're just getting started. These projects are not only fun to play with, but each week brings a new breakthrough. As an investor, it's all happening so fast, with so much hype (and ethical and societal questions), that no one knows how it will turn out. Web3's demand won't be the issue. Too much demand may cause servers to melt down, sending costs soaring. Companies will try to mix rapidly evolving tech to meet user demand and create businesses. Frustratingly difficult.
Anyway, I wanted an excuse to post some Lensa selfies.
These are really weird. I recognize them as me or a version of me, but I have no memory of them being taken. It's surreal, out-of-body. Uncanny Valley.
You might also like
DC Palter
2 years ago
Why Are There So Few Startups in Japan?
Japan's startup challenge: 7 reasons
Every day, another Silicon Valley business is bought for a billion dollars, making its founders rich while growing the economy and improving consumers' lives.
Google, Amazon, Twitter, and Medium dominate our daily lives. Tesla automobiles and Moderna Covid vaccinations.
The startup movement started in Silicon Valley, California, but the rest of the world is catching up. Global startup buzz is rising. Except Japan.
644 of CB Insights' 1170 unicorns—successful firms valued at over $1 billion—are US-based. China follows with 302 and India third with 108.
Japan? 6!
1% of US startups succeed. The third-largest economy is tied with small Switzerland for startup success.
Mexico (8), Indonesia (12), and Brazil (12) have more successful startups than Japan (16). South Korea has 16. Yikes! Problem?
Why Don't Startups Exist in Japan More?
Not about money. Japanese firms invest in startups. To invest in startups, big Japanese firms create Silicon Valley offices instead of Tokyo.
Startups aren't the issue either. Local governments are competing to be Japan's Shirikon Tani, providing entrepreneurs financing, office space, and founder visas.
Startup accelerators like Plug and Play in Tokyo, Osaka, and Kyoto, the Startup Hub in Kobe, and Google for Startups are many.
Most of the companies I've encountered in Japan are either local offices of foreign firms aiming to expand into the Japanese market or small businesses offering local services rather than disrupting a staid industry with new ideas.
There must be a reason Japan can develop world-beating giant corporations like Toyota, Nintendo, Shiseido, and Suntory but not inventive startups.
Culture, obviously. Japanese culture excels in teamwork, craftsmanship, and quality, but it hates moving fast, making mistakes, and breaking things.
If you have a brilliant idea in Silicon Valley, quit your job, get money from friends and family, and build a prototype. To fund the business, you approach angel investors and VCs.
Most non-startup folks don't aware that venture capitalists don't want good, profitable enterprises. That's wonderful if you're developing a solid small business to consult, open shops, or make a specialty product. However, you must pay for it or borrow money. Venture capitalists want moon rockets. Silicon Valley is big or bust. Almost 90% will explode and crash. The few successes are remarkable enough to make up for the failures.
Silicon Valley's high-risk, high-reward attitude contrasts with Japan's incrementalism. Japan makes the best automobiles and cleanrooms, but it fails to produce new items that grow the economy.
Changeable? Absolutely. But, what makes huge manufacturing enterprises successful and what makes Japan a safe and comfortable place to live are inextricably connected with the lack of startups.
Barriers to Startup Development in Japan
These are the 7 biggest obstacles to Japanese startup success.
Unresponsive Employment Market
While the lifelong employment system in Japan is evolving, the average employee stays at their firm for 12 years (15 years for men at large organizations) compared to 4.3 years in the US. Seniority, not experience or aptitude, determines career routes, making it tough to quit a job to join a startup and then return to corporate work if it fails.
Conservative Buyers
Even if your product is buggy and undocumented, US customers will migrate to a cheaper, superior one. Japanese corporations demand perfection from their trusted suppliers and keep with them forever. Startups need income fast, yet product evaluation takes forever.
Failure intolerance
Japanese business failures harm lives. Failed forever. It hinders risk-taking. Silicon Valley embraces failure. Build another startup if your first fails. Build a third if that fails. Every setback is viewed as a learning opportunity for success.
4. No Corporate Purchases
Silicon Valley industrial giants will buy fast-growing startups for a lot of money. Many huge firms have stopped developing new goods and instead buy startups after the product is validated.
Japanese companies prefer in-house product development over startup acquisitions. No acquisitions mean no startup investment and no investor reward.
Startup investments can also be monetized through stock market listings. Public stock listings in Japan are risky because the Nikkei was stagnant for 35 years while the S&P rose 14x.
5. Social Unity Above Wealth
In Silicon Valley, everyone wants to be rich. That creates a competitive environment where everyone wants to succeed, but it also promotes fraud and societal problems.
Japan values communal harmony above individual success. Wealthy folks and overachievers are avoided. In Japan, renegades are nearly impossible.
6. Rote Learning Education System
Japanese high school graduates outperform most Americans. Nonetheless, Japanese education is known for its rote memorization. The American system, which fails too many kids, emphasizes creativity to create new products.
Immigration.
Immigrants start 55% of successful Silicon Valley firms. Some come for university, some to escape poverty and war, and some are recruited by Silicon Valley startups and stay to start their own.
Japan is difficult for immigrants to start a business due to language barriers, visa restrictions, and social isolation.
How Japan Can Promote Innovation
Patchwork solutions to deep-rooted cultural issues will not work. If customers don't buy things, immigration visas won't aid startups. Startups must have a chance of being acquired for a huge sum to attract investors. If risky startups fail, employees won't join.
Will Japan never have a startup culture?
Once a consensus is reached, Japan changes rapidly. A dwindling population and standard of living may lead to such consensus.
Toyota and Sony were firms with renowned founders who used technology to transform the world. Repeatable.
Silicon Valley is flawed too. Many people struggle due to wealth disparities, job churn and layoffs, and the tremendous ups and downs of the economy caused by stock market fluctuations.
The founders of the 10% successful startups are heroes. The 90% that fail and return to good-paying jobs with benefits are never mentioned.
Silicon Valley startup culture and Japanese corporate culture are opposites. Each have pros and cons. Big Japanese corporations make the most reliable, dependable, high-quality products yet move too slowly. That's good for creating cars, not social networking apps.
Can innovation and success be encouraged without eroding social cohesion? That can motivate software firms to move fast and break things while recognizing the beauty and precision of expert craftsmen? A hybrid culture where Japan can make the world's best and most original items. Hopefully.
Ethan Siegel
2 years ago
How you view the year will change after using this one-page calendar.
No other calendar is simpler, smaller, and reusable year after year. It works and is used here.
Most of us discard and replace our calendars annually. Each month, we move our calendar ahead another page, thus if we need to know which day of the week corresponds to a given day/month combination, we have to calculate it or flip forward/backward to the corresponding month. Questions like:
What day does this year's American Thanksgiving fall on?
Which months contain a Friday the thirteenth?
When is July 4th? What day of the week?
Alternatively, what day of the week is Christmas?
They're hard to figure out until you switch to the right month or look up all the months.
However, mathematically, the answers to these questions or any question that requires matching the day of the week with the day/month combination in a year are predictable, basic, and easy to work out. If you use this one-page calendar instead of a 12-month calendar, it lasts the whole year and is easy to alter for future years. Let me explain.
The 2023 one-page calendar is above. The days of the month are on the lower left, which works for all months if you know that:
There are 31 days in January, March, May, July, August, October, and December.
All of the months of April, June, September, and November have 30 days.
And depending on the year, February has either 28 days (in non-leap years) or 29 days (in leap years).
If you know this, this calendar makes it easy to match the day/month of the year to the weekday.
Here are some instances. American Thanksgiving is always on the fourth Thursday of November. You'll always know the month and day of the week, but the date—the day in November—changes each year.
On any other calendar, you'd have to flip to November to see when the fourth Thursday is. This one-page calendar only requires:
pick the month of November in the top-right corner to begin.
drag your finger down until Thursday appears,
then turn left and follow the monthly calendar until you reach the fourth Thursday.
It's obvious: 2023 is the 23rd American Thanksgiving. For every month and day-of-the-week combination, start at the month, drag your finger down to the desired day, and then move to the left to see which dates match.
What if you knew the day of the week and the date of the month, but not the month(s)?
A different method using the same one-page calendar gives the answer. Which months have Friday the 13th this year? Just:
begin on the 13th of the month, the day you know you desire,
then swipe right with your finger till Friday appears.
and then work your way up until you can determine which months the specific Friday the 13th falls under.
One Friday the 13th occurred in January 2023, and another will occur in October.
The most typical reason to consult a calendar is when you know the month/day combination but not the day of the week.
Compared to single-month calendars, the one-page calendar excels here. Take July 4th, for instance. Find the weekday here:
beginning on the left on the fourth of the month, as you are aware,
also begin with July, the month of the year you are most familiar with, at the upper right,
you should move your two fingers in the opposite directions till they meet: on a Tuesday in 2023.
That's how you find your selected day/month combination's weekday.
Another example: Christmas. Christmas Day is always December 25th, however unless your conventional calendar is open to December of your particular year, a question like "what day of the week is Christmas?" difficult to answer.
Unlike the one-page calendar!
Remember the left-hand day of the month. Top-right, you see the month. Put two fingers, one from each hand, on the date (25th) and the month (December). Slide the day hand to the right and the month hand downwards until they touch.
They meet on Monday—December 25, 2023.
For 2023, that's fine, but what happens in 2024? Even worse, what if we want to know the day-of-the-week/day/month combo many years from now?
I think the one-page calendar shines here.
Except for the blue months in the upper-right corner of the one-page calendar, everything is the same year after year. The months also change in a consistent fashion.
Each non-leap year has 365 days—one more than a full 52 weeks (which is 364). Since January 1, 2023 began on a Sunday and 2023 has 365 days, we immediately know that December 31, 2023 will conclude on a Sunday (which you can confirm using the one-page calendar) and that January 1, 2024 will begin on a Monday. Then, reorder the months for 2024, taking in mind that February will have 29 days in a leap year.
Please note the differences between 2023 and 2024 month placement. In 2023:
October and January began on the same day of the week.
On the following Monday of the week, May began.
August started on the next day,
then the next weekday marked the start of February, March, and November, respectively.
Unlike June, which starts the following weekday,
While September and December start on the following day of the week,
Lastly, April and July start one extra day later.
Since 2024 is a leap year, February has 29 days, disrupting the rhythm. Month placements change to:
The first day of the week in January, April, and July is the same.
October will begin the following day.
Possibly starting the next weekday,
February and August start on the next weekday,
beginning on the following day of the week between March and November,
beginning the following weekday in June,
and commencing one more day of the week after that, September and December.
Due to the 366-day leap year, 2025 will start two days later than 2024 on January 1st.
Now, looking at the 2025 calendar, you can see that the 2023 pattern of which months start on which days is repeated! The sole variation is a shift of three days-of-the-week ahead because 2023 had one more day (365) than 52 full weeks (364), and 2024 had two more days (366). Again,
On Wednesday this time, January and October begin on the same day of the week.
Although May begins on Thursday,
August begins this Friday.
March, November, and February all begin on a Saturday.
Beginning on a Sunday in June
Beginning on Monday are September and December,
and on Tuesday, April and July begin.
In 2026 and 2027, the year will commence on a Thursday and a Friday, respectively.
We must return to our leap year monthly arrangement in 2028. Yes, January 1, 2028 begins on a Saturday, but February, which begins on a Tuesday three days before January, will have 29 days. Thus:
Start dates for January, April, and July are all Saturdays.
Given that October began on Sunday,
Although May starts on a Monday,
beginning on a Tuesday in February and August,
Beginning on a Wednesday in March and November,
Beginning on Thursday, June
and Friday marks the start of September and December.
This is great because there are only 14 calendar configurations: one for each of the seven non-leap years where January 1st begins on each of the seven days of the week, and one for each of the seven leap years where it begins on each day of the week.
The 2023 calendar will function in 2034, 2045, 2051, 2062, 2073, 2079, 2090, 2102, 2113, and 2119. Except when passing over a non-leap year that ends in 00, like 2100, the repeat time always extends to 12 years or shortens to an extra 6 years.
The pattern is repeated in 2025's calendar in 2031, 2042, 2053, 2059, 2070, 2081, 2087, 2098, 2110, and 2121.
The extra 6-year repeat at the end of the century on the calendar for 2026 will occur in the years 2037, 2043, 2054, 2065, 2071, 2082, 2093, 2099, 2105, and 2122.
The 2027s calendar repeats in 2038, 2049, 2055, 2066, 2077, 2083, 2094, 2100, 2106, and 2117, almost exactly matching the 2026s pattern.
For leap years, the recurrence pattern is every 28 years when not passing a non-leap year ending in 00, or 12 or 40 years when we do. 2024's calendar repeats in 2052, 2080, 2120, 2148, 2176, and 2216; 2028's in 2056, 2084, 2124, 2152, 2180, and 2220.
Knowing January 1st and whether it's a leap year lets you construct a one-page calendar for any year. Try it—you might find it easier than any other alternative!
Jayden Levitt
3 years ago
The country of El Salvador's Bitcoin-obsessed president lost $61.6 million.
It’s only a loss if you sell, right?
Nayib Bukele proclaimed himself “the world’s coolest dictator”.
His jokes aren't clear.
El Salvador's 43rd president self-proclaimed “CEO of El Salvador” couldn't be less presidential.
His thin jeans, aviator sunglasses, and baseball caps like a cartel lord.
He's popular, though.
Bukele won 53% of the vote by fighting violent crime and opposition party corruption.
El Salvador's 6.4 million inhabitants are riding the cryptocurrency volatility wave.
They were powerless.
Their autocratic leader, a former Yamaha Motors salesperson and Bitcoin believer, wants to help 70% unbanked locals.
He intended to give the citizens a way to save money and cut the country's $200 million remittance cost.
Transfer and deposit costs.
This makes logical sense when the president’s theatrics don’t blind you.
El Salvador's Bukele revealed plans to make bitcoin legal tender.
Remittances total $5.9 billion (23%) of the country's expenses.
Anything that reduces costs could boost the economy.
The country’s unbanked population is staggering. Here’s the data by % of people who either have a bank account (Blue) or a mobile money account (Black).
According to Bukele, 46% of the population has downloaded the Chivo Bitcoin Wallet.
In 2021, 36% of El Salvadorans had bank accounts.
Large rural countries like Kenya seem to have resolved their unbanked dilemma.
An economy surfaced where village locals would sell, trade and store network minutes and data as a store of value.
Kenyan phone networks realized unbanked people needed a safe way to accumulate wealth and have an emergency fund.
96% of Kenyans utilize M-PESA, which doesn't require a bank account.
The software involves human agents who hang out with cash and a phone.
These people are like ATMs.
You offer them cash to deposit money in your mobile money account or withdraw cash.
In a country with a faulty banking system, cash availability and a safe place to deposit it are important.
William Jack and Tavneet Suri found that M-PESA brought 194,000 Kenyan households out of poverty by making transactions cheaper and creating a safe store of value.
Mobile money, a service that allows monetary value to be stored on a mobile phone and sent to other users via text messages, has been adopted by most Kenyan households. We estimate that access to the Kenyan mobile money system M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.
The impacts, which are more pronounced for female-headed households, appear to be driven by changes in financial behaviour — in particular, increased financial resilience and saving. Mobile money has therefore increased the efficiency of the allocation of consumption over time while allowing a more efficient allocation of labour, resulting in a meaningful reduction of poverty in Kenya.
Currently, El Salvador has 2,301 Bitcoin.
At publication, it's worth $44 million. That remains 41% of Bukele's original $105.6 million.
Unknown if the country has sold Bitcoin, but Bukeles keeps purchasing the dip.
It's still falling.
This might be a fantastic move for the impoverished country over the next five years, if they can live economically till Bitcoin's price recovers.
The evidence demonstrates that a store of value pulls individuals out of poverty, but others say Bitcoin is premature.
You may regard it as an aggressive endeavor to front run the next wave of adoption, offering El Salvador a financial upside.