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One of the best features of Linux is that you can easily create scripts that are designed to automate and simplify tasks. This can help when processing large groups of files, like log files if you’re a Systems Administrator or CSV and TXT files if you’re doing some kind of research. However, there’s one very specific set of characters that you have to understand to get scripting – the Shebang or #!. We answer all your questions about the Shebang in this tutorial, a guide on how to use this character set in Linux.What Is the Shebang?
#! is used in a text file of some kind to load the proper interpreter for the code that’s below that file. You could write out a script like what is shown in the following image.
And run it like what is shown in this image.
That will work for you, but it may get annoying after a while. A better way to do it might be like this image.
And then run it like this.Why Was the Shebang Invented?
While using the Shebang takes an extra step when creating the script, being able to use a ./ or “dot-slash” to run your scripts will make it easier down the road. The script takes care of which interpreter to pass the commands to, meaning you don’t have to remember. This is great if you’re scheduling it as a cron job or if you’re executing scripts from within other scripts.
It makes the system more simple to administer because regardless of whether you want Bash, Zsh, or Python to interpret the contents of the files, having that as the first line of your script will make it drop-dead simple.How Do I Use the Shebang?
It’s very simple: just type it in the first line of your script file along with the absolute path to the interpreter you want to pass the commands to. Here’s a couple of examples:
Once that’s in the file, start typing below it. Once you’re done, save your file and make it executable by running one of the following commands:
They will both accomplish the same thing. From there, all you have to do is run your script like this:.
And you’re done! It’s that simple.
If you enjoyed this guide on how to use the Shebang, make sure you check out some of our other Linux how-to’s, like our guides on fixing the “No space left on device” error and repairing a corrupted USB drive.
John is a young technical professional with a passion for educating users on the best ways to use their technology. He holds technical certifications covering topics ranging from computer hardware to cybersecurity to Linux system administration.
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Artix Linux is a fast and easy to use Arch Linux-based distribution. It started as a version of Arch Linux without SystemD around 2023. Since then, it has grown to be a distribution that aims to create an Arch Linux environment that promotes package simplicity and security.Why Use Artix Linux?
One of the main selling points of Artix is that it maintains a version of Arch Linux without SystemD. Similar to Devuan, this means that Artix does not include software and kernel configurations that are associated with the SystemD init system. This, in turn, reduces the amount of programs that you install and run in your computer.
Another selling point for Artix is that it treats alternative init systems as first-class citizens. This means that, unlike Arch, Artix provides you with the choice of picking the init system that you want for your computer.
This can be especially useful if you want to optimize a system for a specific use-case. For example, you can install Artix with runit if the system does not need complex process management.
With that, Artix gives you the ability to explore and experiment with different kinds of init systems for your machines. Further, Artix allows you to take control of what you want to use your computer for. Its nonreliance on SystemD enables it to be highly flexible, simple and secure.Obtaining Artix Linux
You can obtain a copy of Artix from the distribution’s download page. From there, you can choose between three different installers with varying degrees of customization:
The base installer is similar to the default Arch Linux installer. It is a live ISO that you can write to a disk to boot into a basic Artix environment. From there, you need to perform the whole installation manually. This is useful if you want to either install Artix from scratch or create a basic server installation.
The graphical installer is similar to a regular Linux install CD. This provides an intuitive interface to create a basic installation of Artix. Not only that, the graphical installer also includes a barebones desktop environment. This is useful if you want a quick and easy way to use Artix.
The community installer is a whole desktop installation of Artix. This provides a complete desktop experience which includes additional applications such as office programs and basic desktop tools. This is useful if you want to either have an Artix system that works out of the box or you intend on installing Artix to multiple machines.Choosing the Init System for You
From there, one important thing to note is that an Artix installer will only contain a single init system. This will be the init system that the installer will boot from and it will also be the one that it will install in your machine.
Knowing that, Artix supports five different init systems that you can install:
In my case, I want my install to be an XFCE environment with runit. To do that, I can press the XFCE icon in Artix’s download page and select the “artix-xfce-runit” version.
From there, you can now create a USB installer for your Artix disk by using a tool such as balenaEtcher.Booting into the Artix Live Disk
Once done, you can then boot into the Artix installer disk through your computer’s BIOS menu. In most cases, you can access this by pressing F2 or F10 when you start up your computer.
Doing that will load a custom GRUB menu where you can change some of the settings of the live disk:
The tz option tells the Artix installer to set the timezone of the live disk to the region that you want. By default, it uses the UTC timezone to determine the time.
The keytable option, meanwhile, sets the keymap of the live disk. By default, the Artix installer uses the standard American keymap. As such if you are using anything other than that, you need to set this option to your local keymap.
On the other hand, the lang option sets the overall language of the live disk. At the moment, Artix supports 15 different languages for its distribution. One important thing to note is that this will only affect the language of your live disk.
From there, you can now boot into the live disk by selecting “From CD/DVD/ISO: artixx86_64”.Installing Artix Linux
From there, the Artix Linux installer will check for your system’s configuration and determine whether you can install it or not. Once done, it will display a splash screen that will ask you for your preferred system language.
After that, the installer will ask for the region that you are installing Artix in. The installer will then use this to determine your timezone as well as the date and number formats that the system will use.
From there, the installer will ask for the keyboard map that you want to use for your machine. If you have a different keyboard map for the live disk, you will need to provide the same keyboard map here.Disk Partitioning for Artix Linux
Once done, the installer will then ask for your preferred disk partition method. In that, there are three ways to setup a disk for Artix:
The “Replace Partition” option only shows up if you have a different distribution present in the hard disk. In this, the installer will attempt to remove the old distribution and use its partition layout to bootstrap Artix. This can be useful if you have a custom partition layout that you want to preserve for Artix.
The “Erase Disk” option will clear the entire disk, including its partition layout, to install a wholly new Artix Linux install. Further, this option also allows you to set a swap partition optimized for Artix.
Lastly, the “Manual Partitioning” option will allow you to create custom partition layouts for your Artix system. This can be especially useful if you want to create separate partitions for system directories.
By default, the installer will not select a swap partition for your system. However, it is good practice to at least have a basic swap partition. In here, I will select “Swap (with hibernate)” to give the system enough swap space to allow it to sleep when I am not using it.
From there, the installer will then ask for additional options such as disk encryption and separate bootloader partitions. In most cases, you can leave those options to their default settings.User Information
Once done, the installer will ask for your user information.
From there, you can also set the password for your administrator account. This will be the password that you will use to access your root user. In that, Artix allows you to use the same password for the user and root user.
However, it is good practice to have two different passwords for those two accounts. This will ensure that if anyone cracks your user password that they will not be able to do significant damage to your system.
Once done, you can press Next to view a summary of your installation settings. From here, you can still go back and make any necessary changes to your installation. Once you press Next, however, Artix will start the installation process with your preferences.
From this point on, the Artix installer will automatically install the distribution to your disk. At most, this process will take around 10 to 15 minutes.Final Steps
Congratulations! You know have a basic installation of Artix Linux. Aside from that, you also now have a basic idea of the different init systems that you can use for your system.
If all this talk made you curious about what you can do with your new Linux system, you can check out some of the best email clients for Linux.Frequently Asked Questions 1. The installer went into sleep and now it is asking for a password. Did my installation fail?
No! Since the live disk is a complete Linux environment, it can sleep and lock itself if you leave it unattended. You can log back in to the live disk by entering artix as your username and password.2. Is it possible to install Artix alongside other distributions?
Yes! It is possible to install Artix alongside other distributions. In order to do that, you need to use Artix’s manual partitioning to create an unallocated space after Artix. From there, you can then use that space to install a different distribution.
One important thing to note, is that if you intend on dual booting Artix with Windows you need to make sure that Windows is installed first. This is because Windows needs to be in the first sectors of a disk in order to work properly.3. Is it possible to change an init system after installation?
Ideally, yes. However, doing this will run the risk of making your system unusable. This is because the init system is an integral part of a machine’s boot process. This ultimately means that any mistake while configuring a new init system can make your machine unbootable.
Despite that, if you still want to change your current init system you need to make sure that your system is backed up. Further, you also need to make sure that you have read the documentation for that init system. This includes Artix’s wiki page about that init system and its official manual.
For example if you want to install runit on a non-runit Artix system, the wiki page for runit will highlight the steps on doing it.
Image credit: Unsplash
Ramces is a technology writer that lived with computers all his life. A prolific reader and a student of Anthropology, he is an eccentric character that writes articles about Linux and anything *nix.
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Introduction to Linux
Web development, programming languages, Software testing & others
Top 10 Use Cases of Why Linux Used For#1
The most important use of LINUX is that it provides high security. Using the UNIX operating system on your system is the easiest way to avoid viruses and malware. During the development of the UNIX operating system, special attention was given to security, resulting in a system that exhibits greater resilience to viruses and reduced vulnerability in comparison to Windows.
Programs cannot change the system settings and configuration unless the user is logged in because of the root (equivalent to the administrator user in Windows) user. Most users don’t log in because of the root; thus, they can’t do abundant injury to the system, except to their files and programs, since the downloaded file/malware can have restricted privileges. You’ll browse the net without concerning your system obtaining infected.
Another common reason for using Linux is its high stability. The UNIX operating system is highly stable and isn’t vulnerable to crashes. The UNIX operating system OS runs specifically as quickly because it did once initially put in, even once many years. Most people should have known. However, a freshly put-in Windows system runs extraordinarily quickly; therefore, the same system becomes slow from around six months to at least one year. Then, your only possibility most of the time is to install the OS and every one the opposite package.#3 Simple Maintenance #4 Runs on Any Hardware
UNIX operating system is free, and users don’t ought to get something. All the basic packages a typical and even a sophisticated user needs are obtainable. Dozens of instructional packages are obtainable underneath the UNIX operating system. Even the equivalent of a skilled package for publishing, icon redaction, audio redaction, and video redaction are obtainable. Businesses will use the package freed from price and considerably cut back their IT budgets.
#7 Simple Use
Contrary to the belief that the UNIX operating system is primarily for geeks, it has become user-friendly and now includes an intelligent graphical interface (GUI). It’s the majority of the practicality that Windows has. Moreover, the GUI has evolved to the extent that the UNIX operating system now allows typical users to perform almost all tasks without the need for command-line knowledge, similar to what can be done in Windows.#8 Customisation #9 Education
This can be the only helpful site for college students, as they’ll use the package to check how it works before modifying and increasing the code to suit their wants. This may additionally facilitate them to find out the internals of AN OS and, therefore, the package. This method can facilitate the development of the latest package and aid innovation-supported native wants. Though users don’t seem to be programmers, they’ll contribute to the UNIX operating system by serving in documentation, translation, and testing.#10 Support
There’s robust community support for the UNIX operating system over the net through numerous forums. Any question in forums can sometimes get a fast response as many volunteers are online and resolving the issues because of their passion for the UNIX operating system. The paid support possibility is additionally obtainable for business enterprises, with corporations like Red Hat and Novell providing 24×7 support for vital applications and services.
Conclusion – Why Linux Used For
I have barely begun to scratch the surface here. Generally, the transition from Windows applications to the UNIX operating system is trivial. Generally, it takes a small amount of effort to learn new or completely different functions or simply a special screen layout and menu organization. However, it is rarely impossible, and in my experience, the individuals I have introduced to the UNIX operating system have always found the outcome worthwhile.Recommended Articles
This is a guide to What is Linux Used For. Here we discuss the top 10 use cases of why Linux is used for with explanation. You may also have a look at the following articles to learn more –
Video conferencing is such an integral aspect of our lives that we expect apps to deliver standalone results. And Apple did exactly that by introducing Center Stage in the M1 Chip-powered iPad Pro launched earlier in May 2023. This will enable users to video call on FaceTime and other such apps seamlessly!
With Center Stage, you can basically move across the room while having a FaceTime session, anywhere within a 122-degree angle-view of the camera lens, and it will keep you centered in the frame.
Cool, right? Something we wished for was a feature on our video call sessions for a long time. Now, you can conduct cooking tutorials, attend meetings, or perform any activity while video calling without worrying about your focus in the frame! How? Read on to find out.
What is Center Stage on iPad?
With the Center Stage technology, Apple aims to elevate video calling further. Considering the current situation, this is much needed.
With its help, the iPad Pro’s camera will stay focused on your face without any noise despite your movements (i.e., moving from one spot to another within negligible distance) or random things going on in the background. Well, I’m not saying it would be a portrait mode with your video call experience, but it will manage to focus on you.
How does Center Stage work?
iPad Pro’s Center Stage technology works with the help of two features: the TrueDepth camera system and the M1 processor. The TrueDepth technology enables the all-new 12MP ultra-wide front camera to get your wider shot even when you move around; whereas, the machine learning capabilities of M1 help the camera recognize your face despite movements.
Thus, creating a more engaging experience. Moreover, when more people join in the frame, it adjusts and zooms out the frame so that everyone fits in just right and gets equal attention.
Don’t feel left out, y’all; the new iPad Pro is here to give you all the attention you could imagine.
Which iPad models support Center Stage?
Center Stage is only accessible on the latest line-up of iPad models launched in 2023, excluding iPad Air. That means you can use this feature with the following:
iPad (9th generation)
iPad mini 6
iPad Pro 12.9-inch (5th generation)
iPad Pro 11-inch (3rd generation)
Center Stage is compatible with these models owing to the ultimate combination of the latest iPadOS, powerful bionic chips, and 12MP Ultra-wide, depth camera, making person-centering possible.
How to enable or disable Center Stage on iPad
There are two ways to activate Center Stage on iPad. One way is to enable it in the supported video chat apps directly, and another way is to turn on the feature during a FaceTime call. Let’s look at both.1. Turn on Center Stage on any video calling app
On the left sidebar, scroll down and tap FaceTime (or any video chat app, like Zoom or Google Meet).
Toggle on Center Stage to enable it.
Note: To disable, follow the above method and toggle off Center Stage. The gray toggle signals that the feature is turned off.2. Enable Center Stage during a FaceTime call
For iPadOS 14:
Start a FaceTime call.
Now, swipe up from the screen’s bottom to access Control Center.
Tap Center Stage to turn it on.
For iPadOS 15:
Get on a FaceTime call.
Now, swipe down from the screen’s upper right corner to open Control Center.
Tap Video Effects.
Next, tap Center Stage to activate it.
Note: To disable, follow the above method and tap Center Stage to turn it off.
As the name suggests, the Center Stage technology is here to keep you the center of attraction. This means the TrueDepth Camera will work its best on keeping you in focus, even if you move.
It will not blur out activities going on in the background. And this is why it is not similar to Portrait Mode photography.
Once the gadget is available in the market, the hands-on experience will give a broader perspective on how focused we are talking about. But, one thing is for sure, the interactions with faces shot in wider angles will get bigger and offer us a seamless experience.Video: Understanding Center Stage on iPad
With the ongoing pandemic leading to an almost permanent WFH culture, the Center Stage technology is the need of the hour. It will have a massive impact on our video call experience.
Twitter is probably one of the richest sources of information on the planet. You can get to know the hottest rumors before anyone else, join the conversation, and offer your expertise whenever and wherever possible. However, to become an important, influential personality on Twitter, you need to be able to keep your finger on the pulse. And to do that, you need to make sure you’re following the right people. Today’s piece is all about getting in touch with the capable beings of Twitter, which would, most certainly, help you stand out amid the Twitterati. So, without further ado, let’s check out how a List helps you achieve your goals and more.
What is a List on Twitter?
In the introduction, we discussed how important it is to follow the right accounts to harvest the in and outs of the industry. Be it technology, sports, or entertainment, it’s crucial to view the tweets from the notable personalities of the concerned world. Twitter allows you to do the same with the help of a List.
List, in simplest terms, is a collection of Twitter accounts. When you access it, you get all tweets from the concerned accounts under one roof. Unlike your feed, a List isn’t populated with irrelevant content. It only contains tweets from the accounts you diligently follow, nothing more. You can create your own Lists, discover and follow other Lists, and, finally, add and remove people from your List. It’s a fascinating space, and something every serious Twitter user must check out.
How to find Lists on Twitter
Like all other social networking sites, Twitter, too, is pretty capable of learning your habits and patterns. It allows Twitter to predict what sort of content you’d like to consume in the future and give you tasteful options. Depending on your activity, it might offer you the option to follow new Lists every once in a while.
When it does, a banner will pop up on your screen, reading ‘Discover new Lists.’ Tap on the banner to discover the Lists that Twitter thinks might be relevant to you. If you find a list that you like, tap on ‘Follow.’ You could also tap on ‘Show more’ to see some more Twitter recommendations.
How to follow Lists on Twitter
Following a List is pretty straightforward on Twitter. If you get the ‘Discover new Lists’ banner, then your task is pretty straightforward. All you have to do is tap on the ‘Follow’ button when a relevant List shows up.
How to create a List
If you wish to have a separate space to house all the relevant Twitter accounts, you should try your hands at creating a list. You can do so from the convenience of both your phone and PC.
Android and iOS
The Twitter app differs ever-so-slightly for Android and iOS. The iOS will give you your profile icon at the top of your screen, while the Android one might show you the navigation bar button at the top-left corner, or your profile icon — just like iOS.
Tap on the icon that’s available to you, and hit ‘Lists.’
Hit the new list button at the bottom-right corner of your screen.
Now, enter the name of your List, add an image, and, if you wish, add a description for your list. When you’ve finalized the intricacies, tap on ‘Create’ to get to the next step.
Finally, search for the accounts you wish to see on your List and hit the ‘Add’ button right next to their names to add them as members to your List.
How to add members to your List
Over the course of your Twitter journey, you are likely to come across new profiles that dazzle you. If you were wondering whether it’s possible to add new accounts to your existing Lists, we’d like to assure you that not only is it possible but it’s also pretty straightforward.
Now, go to the List you want to modify — add Members to.
Then, hit ‘Edit List.’
You’ll get the option to change the name of the List, modify the description, and even ‘Manage members.’
After launching the Twitter app, tap on your profile icon (iOS) or the navigation bar icon (Android) at the top-left corner of your screen.
Now, tap on ‘Lists.’
Pick the List you wish to add a new Member to. Once the List opens, tap on ‘Edit List.’
Then, go to ‘Manage members.’
Next, go to the ‘Suggested’ tab and pick the accounts you wish to add.
Don’t be shy to search for Twitter handles if the recommended ones fail to fit the bill.
Alternatively, if you wish to add an account to your List instantaneously, all you have to do is go to their profile, tap on the More button at the top-right corner, and hit ‘Add/remove from list.’
Then, simply tap on the List you wish to add them to.
How to remove Members from your List
If one of the Members of your List has been failing to produce quality content, you could decide to kick them off your space. Follow the steps below to do so, both from your PC and mobile.
It’ll take you to the backend of the List. Next, tap on ‘Manage members.’
Removing a Member is just as straightforward on the mobile apps. After opening the List you wish to redecorate, tap on ‘Edit list.’
Now, go to ‘Manage members.’
On the first tab itself, you’ll see the existing Members of your list and the option to remove right next to them.
Tap on ‘Remove’ to get it over with.
How to remove yourself from a list
Removing yourself from a list is pretty easy, but also quite extreme. The only way to remove yourself is when you decide to block the creator of the list. So, be absolutely certain before you take the drastic step. First, to see the lists you’re on, go to ‘Lists,’ hit the More button, and open ‘Lists you’re on.’
This space will show you all the Lists you’re currently a part of.
To block a Twitter user, go to their profile, tap on the More button and hit ‘Block XYZ.’
Confirm the action and they’ll be blocked for good.
How to pin a List
Since a List is your own little exclusive world of Twitter personalities, it is only logical that you get to access the accounts and tweets that come with them in a parallel space, alongside your main feed. Twitter allows you to do just that with the help of Pinning.
It is to be noted that pinning and parallel viewing only works as expected on mobile apps.
After launching and logging in to Twitter, go to the ‘Lists’ area.
Here, you’ll find all the Lists you have created and follow. Tap on the Pin icon and the List will show up as a separate tab alongside the ‘Home’ feed.
How to rearrange and remove pinned Lists
Upon launching the Twitter app, open the ‘Lists’ menu item to access the Lists you have created and currently follow.
Under the ‘Pinned’ banner, you’ll find the pinned Lists. Tap on ‘Edit.’
And finally, rearrange the Lists by dragging them.
Unpinning is also pretty standard. Simply hit the highlighted pin icon to unpin from your home.
How to delete a List
Finally, if a List becomes useless to you, you can very easily choose to delete it. Here’s how you could do so on PC and mobile:
When the List details are revealed, hit ‘Delete List.’
When asked to confirm, hit ‘Delete’ again.
After launching and logging in to Twitter to the Twitter app, tap on the ‘Lists’ menu item.
Now, go to the List you wish to delete. Then, hit the ‘Edit list’ button.
Next, tap on ‘Delete list.’
And finally, confirm again by tapping on ‘Delete’ again.
When it comes to crypto, everyone knows Bitcoin. In fact, Bitcoin is known much more widely than the word “cryptocurrency” itself. Since its inception, the concept of a decentralized financial system has taken everyone by surprise. And to watch it develop into what it is today is nothing more than a once-in-a-century instance.
However, as the understanding of crypto and participation grew, hundreds and thousands of new cryptocurrencies began appearing. Some of them failed disastrously while many others succeeded to become some of the topmost digital assets today. Naturally, people jumped in to invest in these digital assets and soon, a new kind of investment vehicle came to life.
But, there are always these few questions that people ask whenever the topic of crypto comes up – Is that it? Are Bitcoin and a few altcoins my only options to invest in? Is DeFi really worth it, etc.?The Cryptocurrencies
If we’re going to talk about where you could invest, it is important to gauge every existing kind of crypto asset. And for that, obviously, we need to analyze the topmost coins. The reason why people primarily rush to invest in cryptos is because of the ridiculous ROIs these assets offer.
Over the year, Bitcoin has seen a price rise of almost 77%, with its ROI for 1 year standing at around 161%, at press time. The market dip of 4 December definitely caused the king coin, as well as other altcoins, to fall considerably. In fact, Bitcoin even touched the $43k level at its lowest.
But, if you’re wondering why the ROI of BTC is so low, it is because Bitcoin still sits at a high price of $51k. Its rise and fall continue to maintain a tight structure, one that keeps volatility relatively minimal.
On the contrary, altcoins that don’t cost as much did go berserk this year. Ethereum performed really well as its price shot up by 501.8% while its ROI was 620% at press time. And yet, it still has nothing against the biggest hit of 2023 – Solana.
SOL broke the market this year after the altcoin’s price witnessed a 13,292% rally, rising from $1.5 all the way to $201.
The altcoin’s ROI is at a staggering 10,976%, making it the most profitable asset of the year.
The likes of Cardano and XRP did not disappoint either as the coins rose by 793% and 290%, respectively, and returned a profit of 789% and 32.8%.
The DeFi boom also played a significant role in the rise of these altcoins.
However, these cryptocurrencies have also been subject to criticism, more so than most due to the volatile nature that pushed many institutions to take drastic measures against them. The ongoing Securities and Exchange Commission v. Ripple Labs lawsuit is a prime example.
Then, there was the issue of crypto-trading and mining ban in China. It affected the entire market badly, with the latter taking weeks to recover. Following the same, there was the FUD around India’s proposed crypto-bill and what its contents would mean for the country’s strong crypto-community.
But, this volatility is a concern of investors as well.
In a recent survey by CoinShares, it came to light that the biggest issue investors have is volatility, more so than regulation and accessibility.
Plus, most investment in cryptocurrencies is still born out of the “get rich quick” mindset, instead of actually adopting the use cases of the technology behind it.
This has led people to look into other forms of crypto-investments. This brings us to…The Crypto-based Companies
There are many blockchain companies that delve into mining as a source of income, who also trade on traditional stock exchanges, but remain backed by crypto. Some well-known examples of the same are HIVE Blockchain Technologies Ltd., Galaxy Digital, Bitfarms, etc. who have all been mining cryptocurrencies. Consequently, their tickers have witnessed successful growth over the year.
Their hikes are actually in line with most of the top cryptocurrencies’ growth. HIVE offers an ROI of 1575%, BITF (Bitfarms) promises returns worth 1,166% and Galaxy Digital’s GLXY gives a 369% return on your investment.
In addition to the already established companies, there have also been instances of crypto-based companies using the SPAC method to plan and raise investments and become public companies.
Prime Blockchain, with over 10,300 rigs for mining BTC and 2,600 rigs for mining ETH, is a recent example. It merged with 10X Capital Venture whose combined value is placed at almost $1.5 billion.
However, people still want to feel the heat of crypto, but with the safety of the traditional investment route. This led to the demand of…Crypto-based Exchange Traded Products
Also known as ETPs, these include ETFs, ETNs, etc. that have drawn investors’ attention over the years. This year, the demand for ETFs has been absolutely crazy and investors actually got what they wanted with the ProShares Bitcoin ETF (BITO) that launched on 19 October in the middle of the SEC v. Ripple lawsuit.
Now, the reason why these ETFs are so popular is that a) They are SEC-approved and thus can’t be subject to legal objections, b) The ease of buying an ETF compared to an actual cryptocurrency, and c) Because of their tax return policies. In fact, ETFs only create a taxable event when they are sold.
Thus, based on the duration of time held, these ETFs receive either long-term capital gains treatment (If held for more than a year) or short-term capital gains treatment (If held for less than a year).
However, even ETFs’ hype has come down with the entire crypto-market witnessing an underperforming November. In the first week of BITO’s launch, ETFs brought in inflows worth almost $1.46 billion. The figures for the same fell by 79% to $305 million this week.But these are not it…
Traditional investment vehicles have been observing and banking on the crypto-hype to propel themselves up. Tesla, Square Inc., and the most famous MicroStrategy have been accumulating Bitcoin and other altcoins to draw investors towards their stock tickers.
And surprisingly, it has paid off. All of these companies saw staggering growth this year. In fact, presently, MicroStrategy is the biggest corporate holder of Bitcoin in the world, acquiring 121,044 BTC in almost a year.
In any case, the biggest issue to crypto-investments lies not in what’s before you, but in what is not.The true purpose of cryptocurrencies…
… was decentralization. Bitcoin was created with the notion of making currency decentralized and the improvements over the last 13 years have been done in order to make it a reality. And these crypto-based companies, ETPs, and traditional investment vehicles banking on the crypto-hype are proof that we are still far from achieving it.
Even today, when Decentralized Finance (DeFi) is being pushed forward, people still opt for centralized routes. Despite the existence of Decentralized Exchanges (DEXs), many people still choose Centralized Exchanges (CEXs).
The top DEX in the market, PancakeSwap, currently handles $4.3 billion worth of trades every day. On the other hand, the top CEX – Binance – operates trade volumes of almost $29 billion in 24 hours.
The consistent need for centralized investment options represented by the paramount demand for ETPs and CEXs is a testament to the long-standing psychology of faith in centralized systems only because they have a face.So, what is the right way?
Well, in my opinion, there is no “right way.” Every investment option comes with its own bag of boons and banes. The traditional and relatively “secure” options are subject to limited growth, whereas crypto-assets might see skyrocketing hikes worth more than 100% in a single day.
But then, they also go through sudden liquidations, drops in demand, and excessive volatility which can harm your own investments.
Besides, even if faith in decentralized systems does increase, centralized options will never be obsolete. Because people will always want a visible system to put their money into. This is why even investment through banks are some people’s preference.
Thus, put simply, risk-takers can go after the traditional crypto-investment options i.e. cryptocurrencies, NFTs, crypto-based companies, etc.
And safe players who want to dip their toes into cryptos without being subject to excessive risks can go with safer crypto-investments such as ETFs, GBTCs, crypto-enthused companies, etc.
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