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Appraisal Management – Is it Working For Today’s Appraiser?

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While appraisal management is not a new concept, the change in the laws that forced their use has caused much speculation about their use, both for appraisers and lenders alike, but for completely different reasons.

Appraisers have several gripes about the appraisal management process and implementation. The first of which is the ethics of the management firms. Conditions have improved for the appraiser, but many are still upset about unfair pay splits, difficulty in getting jobs and the time frame that the firms require to have the job completed.

As the appraisal management companies have increased and experience more competition, they have been forced to change their policies to be more friendly to the appraisers. Where some companies used to take up to 50% of the appraisers fee, most are using a flat fee scale that can be as low as 5%. Also, when they used to require a 24 hour turn time, many now are accepting 48 to 72 hour turn times. Industry standards are definitely changing in favor of the appraiser.

The second issue appraisers have with the appraisal management industry is the inability to talk directly to the lender. While the management companies do serve the purpose of reducing the amount of possible improprieties that can happen with appraiser/lender communication, the inability to communicate also makes it more difficult to solve simple problems that must now go through a middle man.

A third issue appraiser have with appraisal management is just the fact that they have to spend a lot of time signing up with each one. Most companies want an application that can be filled out online, a signed contract that releases liability of the management company, as well as copies of the current state license and E&O insurance. Appraisers could spend days signing up for the hundreds of management companies to bring in the required work load they desire.

The management companies are not going away, although it will continue to evolve, hopefully, in a more beneficial way for the appraisers and lenders.

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SEC Boss Acknowledges That Bitcoin Is A Competitor For U.S. Banking System

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Picture of SEC Chairman Gary Gensler

Bitcoin has proven to be a long-term play which means nations can no longer ignore the impact of the cryptocurrency on the economy. One way that nations have responded to this has been through regulations. While some countries have implemented favorable laws for bitcoin, others have gone the route of trying to stop the digital asset. The United States skews towards the latter.

The SEC has made several attempts to try to regulate the crypto industry, with SEC boss Gary Gensler commenting on what the regulatory body is doing to regulate the asset on several occasions. A growing concern now is the role BTC plays in the economy.

Bitcoin And The Economy

SEC chairman Gary Gensler has raised some concerns regarding bitcoin and the U.S. economy. According to the SEC boss, BTC is now a competitor to the U.S. banking system. Gensler said this on Wednesday when speaking to former SEC chairman Jay Clayton at the DACOM Summit 2021 about the role of cryptocurrencies, Bitcoin, and ETFs in the economy.

Related Reading | Canada Marks Launch Of First Bitcoin, Ethereum ETFs With Monthly Payouts

Gensler, during this summit, said that Bitcoin had been created as a reaction to sanctions and regimes that went into place across the globe. He referred to BTC as “an off-the-grid type of approach”.

“In 2008, Satoshi Nakamoto wrote this paper in part as a reaction, an off-the-grid type of approach. It’s not surprising that there’s some competition that you and I don’t support but that’s trying to undermine that worldwide consensus.”

This refers to the completely decentralized nature of BTC. Satoshi Nakamoto, the creator of Bitcoin, had structured the asset in a way that it couldn’t be replicated or controlled by a single entity.

BTC price trading at $57K | Source: BTCUSD on TradingView.com

Why BTC Is Becoming Mainstream

The deflationary nature of Bitcoin has been one of the most important things for investors who bought the asset. Coupled with its impressive returns on investment, the asset had made for a perfect hedge against inflation. Thus becoming a more popular investment avenue in the financial world.

Related Reading | Croatia’s Largest Supermarket Chain Rolls Out Bitcoin Payments

Another has to do with the decentralization of the cryptocurrency. It puts the holder of the coins in complete control of their assets, free from interference from any entity or governmental body. Basically helping people become their own banks.

However, the same reasons that make Bitcoin such an attractive investment for investors are the same ones that make governments see the digital asset as a threat. Although not all governments see the crypto as a threat. One such example is El Salvador which has adopted Bitcoin as a legal tender in the country.

Featured image from CNBC, chart from TradingView.com
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Floki Inu All Set To Be Advertised on the Tallest Building Burj Khalifa

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Floki Inu All Set To Be Advertised on the Tallest Building Burj Khalifa

Meme coins are gaining traction in the cryptocurrency world because investors appear to love them. Consequently, meme token projects are gaining traction, and developers are deploying them out.

Tomorrow, the world’s highest structure, the Burj Khalifa, will be advertising Floki Inu, a meme currency initiative. In a tweet yesterday, the team disclosed this new development, and it is intended to be a major draw for the project.

As of right now, Floki Inu is engaged in three utility-related endeavours. In addition to Valhalla, the company is developing an NFT game metaverse, an NFT marketplace, and a content education platform dubbed Floki Inuversity.

The reigning world boxing champion Tyson Fury has lent his support to the initiative. Kerala Blasters, SSC Napoli, Cádiz CF, and FC Goa are just a few teams already working with Floki Inu.

Price Surge After the Announcement

Elon Musk was also mentioned, who is now one of the most powerful figures in cryptocurrencies. It was back in September when Tesla CEO Elon Musk tweeted a selfie of himself and his Shiba Inu with the message “Floki has arrived.”

Since the announcement of FLOKI’s display atop the Burj Khalifa yesterday, the team’s stock has surged. More than 14 percent has been added to FLOKI’s value within 24 hours, outpacing the whole cryptocurrency market.

After dipping into negative territory for several weeks, the cryptocurrency’s MACD line is now in the neutral zone. A positive trend in FLOKI’s performance can be seen by its RSI of 47, which indicates that the stock is moving out of the oversold zone. Just above the 50-day moving average, FLOKI is trading at $0.0001601.

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“The United States Is Already Mining” Bitcoin… “Maybe,” Says Compass Mining CEO

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Compass Mining, U.S. flag and helicopter

Does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin? Whit Gibbs was a guest in a recent episode of Anthony Pompliano’s “The Best Business Show” and spilled the beans… or did he? The host cleverly disguised his question by talking about other countries following El Salvador’s footsteps and starting mining Bitcoin. He also mentioned Venezuela and other not-friendly to the U.S. countries already doing it. Then, he asked point-blank, what would it take for their country to start mining?

Related Reading | Will Bitcoin Mining Backed Volcano Bonds Be Enough To Ward Off The IMF?

“The United States is already mining,” Gibbs answered. And then softened the blow with a “Maybe.” If true, this is huge. And the implications are even greater. “They might have like 10 or 20 watts running somewhere in the midwest to test it out. Maybe. It’s hypothetically speaking. But, it’s a matter of national security.” Was that hypothetical? Or was the Compass Mining CEO giving us inside information? That’s what we’ll try to figure out.

But first, here’s the video: 

What Does The Compass Mining CEO Know?

Well, for starters, he knows Bitcoin is the hardest asset ever created. “When it comes to mining, when you’re talking about what Bitcoin is, whether it’s a store of value, it’s a medium of exchange. It’s the future financial instrument that many, many things are going to be built on top of. Nations would have to be absolutely out of their mind to not be getting some exposure to the underlying infrastructure which supports it.” 

So, it’s safe to say that the Compass Mining CEO is bullish on Bitcoin. Why do we think he might know something the rest of the world doesn’t, though? Gibbs continues, “So, the US I think is on the front foot. We’ve had a lot of conversations with the government in DC, state governments, to help educate them, but they are very forward-thinking when it comes to supporting this.”

So, does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin already?

Gibbs completes the idea by saying that El Salvador is showing the way to countries that are not at the forefront and, historically, have been hurt by the current system. They now know that being early to Bitcoin can make a huge impact and “get them there.”

BTC price chart for 12/03/2021 on FTX | Source: BTC/USD on TradingView.com

Other Countries That Are Already Mining Bitcoin

Story Time With Pomp And Gibbs. The host senses that the guest knows something and tries to get it out of him. Pompliano shares a story with him: he knows that in 2012-2013 a Federal law enforcement agency was mining Bitcoin. The rationale was that they couldn’t get a budget approved to buy Bitcoin at exchanges to fund black/ undercover operations. So, they filled papers to get computers instead and started mining. The Bitcoin they got was untraceable, it had no history. And they used it to run operations.

Then, it was Gibbs turn. “So, this is how you get in trouble,” the Compass Mining CEO answered. Cleverly, he shifted the focus from the U.S. to other countries. According to Gibbs, a North African that’s a hotspot for the United States is getting into Bitcoin Mining. This is happening at the presidential level.

Related Reading | Bitcoin Mining In The U.S.: 4 States Attract The Most Miners

Also, he lives in Latvia. A very close neighbor of Latvia, “that may have stopped a plane no too long ago, to remove a journalist,” is already mining Bitcoin with nuclear power. The Compass Mining CEO closes his stellar presentation with, “I don’t believe that they’re mining Bitcoin to skirt sanctions. I believe that they’re mining Bitcoin because they see it as the future, and they want to boost their economy, they want to grow.”

You read it here first, Bitcoin is the future and many world leaders know it.  

 Featured Image by Christopher Skor on Unsplash - Charts by TradingView
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