If real life was like conference calls.
BITCOIN is booming. Investors are piling into the digital currency, which is not issued by a central bank but is conjured into being by cryptographic software…
Many speculate that this rapid rise is being driven by Chinese investors stashing money offshore away from Chinese banks. Even if you believe digital currencies have a future for the global economy, you cannot deny that this is looking particularly overvalued. At the time, Bitcoin remains a speculative currency and it’s time to realize some of those gains and sell.
One of the best and simplest explanations of bitcoin I’ve seen.
Somehow I can’t help but think of the dutch tulip bulb market when I think of bitcoin (which arguable has lower intrinsic value that tulips).
My prediction: The true validation of the current will be when a western government accepts Bitcoin as a method of payment for taxes.
Creativity, fulfillment and flow: Mihaly Csikszentmihalyi
One should not pursue goals that are easily achieved. One must develop an instinct for what one can just barely achieve through one’s greatest efforts.
Since 2008, Canadian mortgage debt has grown from $664 billion to $1.2 trillion.
The Canadian Association of Accredited Mortgage Professionals estimates, homeowners in this country — of whom 60 per cent carry mortgages — owed nearly $1.2 trillion in mortgage debt last year, up from $664 billion in 2008. In other words, national mortgage debt has nearly doubled in just four years.
Certainly feels frothy.
How The Economic Machine Works by Ray Dalio.
This is 30 minutes well spent (even if you nailed Micro and Macro 101 in university).
Hat tip to BenRabidoux via twitter for the video
The Innovation of Loneliness
Interesting take on the impact of social networks on relationships and loneliness.
The State of Digital & Lottery: Thoughts
The interesting aspects of Karma Gaming’s Whitepaper “The State of Digital & Lottery” are not those regarding the usage of Twitter, Facebook, etc from Lottery companies (although the comparison of engagement to other industries such as automotive and retail illuminate a staggering difference in Lottery’s ability to engage the customer)
The real substance is in subsequent sections, particularly in the “Digital Sales & Lottery” and “Mobile App” analysis.
According to the report, only 21% of lotteries use apps to engage players on mobile devices (although the report was not specific about iOS vs. Android apps). It is also unclear whether or not that percentage includes mobile-optimized websites such as BCLC’s Lotto! on PlayNow.com
What is clear from the report is that Lottery apps shouldn’t just provide a “mobile window” into conventional Lottery products - for example - by taking features of a website such as looking up winning numbers and putting them in an app user interface. Rather, the report advocates that mobile apps should increase the entertainment value for players and move away from being passive in nature.
Playing against or with friends, creating a meta-game above the game (i.e. gamefication), registering paper tickets against loss, and adding time-limited entry second-chance games (e.g. “you have 30 seconds to join a bonus game - but you must do so with a friend”) are all possibilities to beef up the mobile player experience. Digital sales through mobile is also a requirement that must be pursued by all.
Digital Sales & Lottery
The report emphasized that while 100% of worldwide lottery companies operated a website, only 43% of those operate an interactive sales channel. Europe, it appears, is dominating the interactive sales channel, with Tipos (Slovakia) achieving 49.8% of total sales through interactive channels. The UK National Lottery (operated by Camelot) also has 16.7% of sales through digital channels. And there is good reason to pursue growth in digital channel sales. Case in point: Camelot research has indicated that digital-only players are more valuable that bricks & mortar-only players although. Even more striking is that multi-channel players (i.e. those player’s who plan online and retail) spend up to almost double on their entertainment than spending in any single channel. The message is clear: push people towards digital, but create or maintain a connection to bricks and mortar retail in order to maximize revenue.
However, just going “digital” will not be a magic bullet for all the player demographics. With a 22% decline in player participation among the 18-24 year audience since 1995, simply putting conventional games online is not going to attract younger players. New games concepts need to be tested and validated quickly. Quote Scott McWilliam, Managing Director Sales & Marketing for Atlantic Lottery, “Be prepared for some games to fail. Be prepared to trial and error your communications”.
The digital evolution of the Lottery industry is still in its infancy and the next 5 years look to be very transformational.
Statistics Canada said Friday the ratio of household credit market debt to disposable income increased to a new high of 163.4 per cent in the second quarter compared with 162.1 per cent in the first three months of the year.
That means Canadians owe just over $1.63 for every $1 in disposable income they earn in a year.