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Strategies for Crypto Investors in a Joint Financial Journey | IDOs News
![Strategies for Crypto Investors in a Joint Financial Journey | IDOs News Strategies for Crypto Investors in a Joint Financial Journey | IDOs News](https://icoholder.com/blog/wp-content/uploads/2024/07/Screenshot_313.jpg)
By Terry Ashton, updated July 25, 2024
Crypto investment is often discussed in the context of a sole owner or investor. Crypto wallets are highly secure if you keep your private keys to yourself.
However, real life presents more complex scenarios than simple one-person ownership of crypto assets. People have spouses, business partners, collaborators, families, and heirs. Moreover, crypto may need to be turned over to other parties for security or estate planning purposes.
The most common case for joint finances is marriage. One of the first questions you encounter in married life is how you manage your money. Is it ideal to combine finances thoroughly, keep them separate, or have a combination of individual and joint accounts? With more people keeping crypto in their portfolios, how do married couples handle transparency, security, and investment decisions?
Business partners are also on a shared financial journey. If a corporation has bitcoin holdings, the partners must be clear about custody, insurance, and accounting.
In this article, we discuss the scenarios that may involve crypto and joint finances. We will provide helpful tips on how married couples or partners can handle crypto holdings and investments alongside other considerations.
Managing Money and Crypto as a Couple
Married couples are not only a family unit but an economic unit. That being said, some couples are uncomfortable about discussing financial matters. First, you must accept that, like it or not, unless you’ve got an iron-clad prenup, your assets are largely conjugal.
When it comes to money in marriage, honesty is the best policy. The same applies to crypto ownership, as it’s a new form of digital money and an investment asset simultaneously.
On the surface, the founding principles of Bitcoin and crypto lie contrary to full disclosure with another party. However, marriage is a commitment that works when both parties trust each other.
Whether you decide to have a separate, combined, or hybrid arrangement where some accounts are merged, and others are not, you still need to create a solid foundation of transparency on which to build your financial journey.
Starting with separate accounts
In the early stages of the marriage, separate bank accounts make sense. Couples move in with different spending and saving habits and an income difference. They might even come in with debts that may be brought into the relationship. Separate accounting systems help clarify obligations, responsibilities, and budgets.
This level of autonomy could lead to better communication on who is responsible for which payments. Some couples decide to halve expenses, while others agree to divide the costs proportionately based on how much each earns. In either case, tracking expenditures using budgeting apps, a spreadsheet, or a joint credit card will help build a foundation of cooperation and transparency.
This strategy has disadvantages when circumstances change—when one decides to change careers, become a homemaker, or go back to school. It could also lead to a situation where investments are not optimized.
Setting up a joint account
Joint accounts simplify financial management immensely for couples. As such, they are the easiest choice, even though there are some fine points to consider. There is less fuss over relative income, and children’s expenses are paid from the joint or family account.
What is a joint bank account, and how does it work?
A joint bank account is shared with another individual for various purposes, including deposits, bill payments, savings, shared expenses, and investments. Joint accounts are commonly held by spouses, family members, or business partners. However, parents and a minor child can also have a joint account.
Benefits of a joint account include quick access during crises or illness. It ensures continuity even when one party is ill, disabled, or deceased. In the case of death, access to joint funds is ensured without a will, lawyer, or having to deal with probate court as long as the joint account has the right of survivorship.
Adult children caring for their aging parents might consider creating a joint checking account with their parents to access funds to pay for care quickly.
If you decide to invest in crypto in the future, a joint bank account could ensure proper monitoring and allocation of funds.
Choosing the correct joint bank account
Your joint account must have the features that suit you and your co-owners. It can be a joint savings account, a checking account, or a hybrid savings and checking in one.
While you can always go to a brick-and-mortar bank branch to open your account, opening a joint bank account online is much simpler. SoFi’s joint account is an example of a combined savings and checking account.
It has ideal features for crypto investors who want the convenience of online transfers and the opportunity to make the most of their money. Its APY is ten times the national average savings rate. There are no account fees or limits on the number of transfers you can make.
Couples and partners who trade or invest in crypto need a joint online bank account to facilitate quick transfers and fund their wallets. With online accounts, it is easy to facilitate tested investment strategies like DCA or dollar-cost averaging, where you buy a fixed amount of BTC or other crypto at regular intervals, regardless of the price. Joint accounts ensure that all crypto investments within the partnership or marriage are documented.
Using multisig crypto wallets
Multisignature or multisig wallets are ideal for married couples or partners who jointly invest in crypto or want to share their crypto holdings securely.
A multisig wallet uses multiple private keys to access or transfer crypto assets. The parties utilize smart contact to set the access rules for the shared wallet.
With such wallets, you will use a multi-factor authentication (MFA) version. MFA is a multi-step account login process that requires more than just a password. Users may need a code sent to their phones or email, scan a fingerprint, utilize other biometric authentication, or access a code through an authenticator app. The second form of authentication helps secure the account by blocking unauthorized access when your password has been compromised.
How does a multisig wallet work?
A multisig wallet will require two or more private keys to execute a transaction. Smart contracts enforce the access rules, including setting the minimum number of keys.
Based on the number of keys needed to allow a transaction, multisig wallets can be classified as:
One of 2 signatures required
Two parties co-own the wallet and trust each other enough to share funds without requiring the other’s authorization. They can sign the transaction independently.
Two of 3 signatures required
The 2-of-3 signatures setup is one of the most popular multisig wallet arrangements. It requires two private keys to execute a transaction. A standard security practice is to have one key online, another key offline, and a third key held by a security company.
Business partners who invest in crypto or hold crypto could use this system or employ it as part of a larger custody plan.
Three of 5 signatures required
The partners or owners store four keys offline in different locations. The fifth key stays with the wallet provider or security company. Access to crypto assets is possible when you obtain two of the four offline keys.
This method is ideal for couples who own a sizable amount of crypto and business partners who want to safeguard their Bitcoin or crypto investments.
Multisig wallets that require all private keys
The previous three types of multisig wallets are classified under threshold signature wallets. However, another kind of wallet with stricter rules requires all private keys for access.
Smart contracts can establish these conditions. Hence, if you have a wallet with five keys, your predetermined number of signatories is five, and all five keys are needed to validate a transaction.
To use multisig, the partners or couple must be familiar with crypto and blockchain technology and the security implications of handling private keys.
Benefits of Multisig Wallets
For crypto holders and investors with joint finances, multisig wallets offer the following benefits:
Transparency
Crypto ownership can sometimes pose problems in a marriage and divorce. Multisig infrastructure can enhance trust and credibility among business partners. A shared multisig wallet with set conditions for access ensures a mutual agreement between parties when signing a transaction, provided the smart contract allows it.
Treasury management
Businesses investing in crypto or keeping it on their balance sheet can start their crypto treasury with shared wallets. It is crucial for companies to manage key person risk, and shared wallets reduce this risk. You can share the wallet with your board of directors or partners.
It is also possible to maintain shared wallets in organizations that work across multiple countries. In a Decentralized Autonomous Organization (DAO), strangers can share assets without needing trust.
In a business partnership, you can use a 2-of-2 setup. In a corporation with board members, you can do a 4-of-6 setup if you need majority votes to approve a transaction. The setup can be modified to a 6 of 6 if you need the entire board to reach a consensus for a financial decision.
Medical emergencies or untimely death
In all relationships and shared financial journeys, crypto ownership can be disrupted or jeopardized if someone falls ill or dies and fails to pass on private keys. Multisig wallets ensure that loved ones can still access your funds even if you are incapacitated.
Remember that there have been many cases where the failure to plan for worst-case scenarios has resulted in millions of dollars in crypto wallets. For spouses or parents and children, a one-of-two setup will suffice.
Estate planning
For more detailed estate planning, you can work with a law firm specializing in crypto-related cases. Multisig wallets can easily be customized to suit your needs if more than two parties are involved.
To Protect Your Crypto, Use Robust Financial Infrastructure
Couples, business partners, families, and others who share a financial journey must start the money conversation ASAP. Even if money and wealth discussions are uncomfortable initially, they are essential to protecting a shared economic future. Failing to set the rules with clarity will backfire in the form of losses, litigation, and missed opportunities.
Newly married couples can ease into their financial journey with both separate and joint bank accounts. Those jointly invested in crypto—whether spouses or business partners—must consider getting multisig wallets to protect and help facilitate decisions. Multisig wallets can be configured using smart contracts to abide by signature requirements to approve a transaction. This ensures business continuity and financial resilience.
In any case, joint financial journeys involve more than just transparency and communication. They need the proper financial setup and infrastructure to ensure strict compliance.
Unlike bank accounts and funds, crypto does not require IDs and signatures—only private keys. One of the most fundamental tenets of crypto is “not your keys, not your crypto.” Make sure the right hands manage those keys.
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Advantages of Mobile Apps in Gambling: The Example of Pin Up App | IDOs News
![Advantages of Mobile Apps in Gambling: The Example of Pin Up App | IDOs News Advantages of Mobile Apps in Gambling: The Example of Pin Up App | IDOs News](https://icoholder.com/blog/wp-content/uploads/2024/08/Screenshot_354.jpg)
By Terry Ashton, updated August 31, 2024
Online gambling is going mobile — over 50% of players are already playing casino games on their mobile devices, and their number is expected to grow further. But does a mobile app have actual advantages over browser-based play? We decided to do more profound research by accessing and trying gambling on a desktop browser, mobile browser, and the app. That allowed us to distinguish casino mobile applications’ key benefits and drawbacks. If you’re considering using one, just keep reading — we will share some helpful insights below.
Benefits of Mobile Play at Pin Up Casino
The rise of online gambling happens for multiple reasons, including the following ones:
- Ultimate accessibility. You can access the app anywhere, even on the go. You don’t need to take additional actions — the casino opens with just one click.
- Lower Internet requirements, offline play. If you play for fun, you can do it even without an Internet connection. If you prefer to play real money, the requirements for an Internet connection will still be much lower because most data is already downloaded to your device.
- Push notifications. You can immediately learn about the new top promotions and the hottest games without checking your email.
- Special bonuses. Sometimes, special bonuses are granted to mobile players. Some casinos may add them occasionally to encourage players to play on apps.
- The same game selection. If a casino is modern and cooperates with top providers, all games will be compatible with mobile devices. For instance, if you play at Pin Up casino online, you can access the same collection of games. That goes not only for slots but also for live games, table games, etc.
- Higher security standards. The app is protected even better than the site. Data is encrypted, and the chance that anyone will access your account is close to zero.
Registration also goes smoothly. Once you sign up on the browser or app, you can access the platform with just one click by entering your Pin Up login and password.
Considering the Cons: Potential Drawbacks of Using a Pin-Up Mobile App
Nothing is perfect, and neither are casino apps. Gamblers should also consider the drawbacks, and the most common ones are as follows:
- Installing software is a must. You need to install the software on your phone. It’s safe if it’s the official casino site and a good product. However, clicking on the wrong link and downloading the wrong APK file may result in problems.
- Battery drain and storage space. It’s no secret that charging the phone all the time is annoying, and innovative slots with top graphics may drain your battery quickly. Also, though most apps don’t take much space (in the case of Pin Up, it’s just about 100 Mb), they still require more effort to manage it.
- Compatibility requirements. Any app will have technical requirements, and most aren’t compatible with old mobile devices and tablets. Also, you’ll need to install updates quite regularly.
- Smaller screen. This is a disadvantage for those who prefer playing on larger screens, particularly those who prefer live dealer games.
Do the pros outweigh the cons for you? If yes, the mobile app will boost your experience. If not, browser play may be a better option.
Final Thoughts: The App vs. Browser Play at Pin-Up Casino
Technology is shaping the industry. Nowadays, there’s no such significant difference between playing on a mobile app and a mobile or desktop browser. You get the same game selection, the same bonuses, and the same smooth experience. So, it’s a matter of taste. Choose what will work best for you and enjoy your play.
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NVIDIA Introduces Fast Inversion Technique for Real-Time Image Editing | IDOs News
![NVIDIA Introduces Fast Inversion Technique for Real-Time Image Editing | IDOs News NVIDIA Introduces Fast Inversion Technique for Real-Time Image Editing | IDOs News](https://image.blockchain.news:443/features/D8E08E86F8EDBDDCD68414CF49BDD8B1401B11A69515DFF98E6B2B03EE9CF9D7.jpg)
Terrill Dicki
Aug 31, 2024 01:25
NVIDIA’s new Regularized Newton-Raphson Inversion (RNRI) method offers rapid and accurate real-time image editing based on text prompts.
NVIDIA has unveiled an innovative method called Regularized Newton-Raphson Inversion (RNRI) aimed at enhancing real-time image editing capabilities based on text prompts. This breakthrough, highlighted on the NVIDIA Technical Blog, promises to balance speed and accuracy, making it a significant advancement in the field of text-to-image diffusion models.
Understanding Text-to-Image Diffusion Models
Text-to-image diffusion models generate high-fidelity images from user-provided text prompts by mapping random samples from a high-dimensional space. These models undergo a series of denoising steps to create a representation of the corresponding image. The technology has applications beyond simple image generation, including personalized concept depiction and semantic data augmentation.
The Role of Inversion in Image Editing
Inversion involves finding a noise seed that, when processed through the denoising steps, reconstructs the original image. This process is crucial for tasks like making local changes to an image based on a text prompt while keeping other parts unchanged. Traditional inversion methods often struggle with balancing computational efficiency and accuracy.
Introducing Regularized Newton-Raphson Inversion (RNRI)
RNRI is a novel inversion technique that outperforms existing methods by offering rapid convergence, superior accuracy, reduced execution time, and improved memory efficiency. It achieves this by solving an implicit equation using the Newton-Raphson iterative method, enhanced with a regularization term to ensure the solutions are well-distributed and accurate.
Comparative Performance
Figure 2 on the NVIDIA Technical Blog compares the quality of reconstructed images using different inversion methods. RNRI shows significant improvements in PSNR (Peak Signal-to-Noise Ratio) and run time over recent methods, tested on a single NVIDIA A100 GPU. The method excels in maintaining image fidelity while adhering closely to the text prompt.
Real-World Applications and Evaluation
RNRI has been evaluated on 100 MS-COCO images, showing superior performance in both CLIP-based scores (for text prompt compliance) and LPIPS scores (for structure preservation). Figure 3 demonstrates RNRI’s capability to edit images naturally while preserving their original structure, outperforming other state-of-the-art methods.
Conclusion
The introduction of RNRI marks a significant advancement in text-to-image diffusion models, enabling real-time image editing with unprecedented accuracy and efficiency. This method holds promise for a wide range of applications, from semantic data augmentation to generating rare-concept images.
For more detailed information, visit the NVIDIA Technical Blog.
Image source: Shutterstock
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AMD Radeon PRO GPUs and ROCm Software Expand LLM Inference Capabilities | IDOs News
![AMD Radeon PRO GPUs and ROCm Software Expand LLM Inference Capabilities | IDOs News AMD Radeon PRO GPUs and ROCm Software Expand LLM Inference Capabilities | IDOs News](https://image.blockchain.news:443/features/9EE0AA0B1F3BD20BCCC7C00CFFD871DCA35D15A36341179DDF6072A1E953606D.jpg)
Felix Pinkston
Aug 31, 2024 01:52
AMD’s Radeon PRO GPUs and ROCm software enable small enterprises to leverage advanced AI tools, including Meta’s Llama models, for various business applications.
AMD has announced advancements in its Radeon PRO GPUs and ROCm software, enabling small enterprises to leverage Large Language Models (LLMs) like Meta’s Llama 2 and 3, including the newly released Llama 3.1, according to AMD.com.
New Capabilities for Small Enterprises
With dedicated AI accelerators and substantial on-board memory, AMD’s Radeon PRO W7900 Dual Slot GPU offers market-leading performance per dollar, making it feasible for small firms to run custom AI tools locally. This includes applications such as chatbots, technical documentation retrieval, and personalized sales pitches. The specialized Code Llama models further enable programmers to generate and optimize code for new digital products.
The latest release of AMD’s open software stack, ROCm 6.1.3, supports running AI tools on multiple Radeon PRO GPUs. This enhancement allows small and medium-sized enterprises (SMEs) to handle larger and more complex LLMs, supporting more users simultaneously.
Expanding Use Cases for LLMs
While AI techniques are already prevalent in data analysis, computer vision, and generative design, the potential use cases for AI extend far beyond these areas. Specialized LLMs like Meta’s Code Llama enable app developers and web designers to generate working code from simple text prompts or debug existing code bases. The parent model, Llama, offers extensive applications in customer service, information retrieval, and product personalization.
Small enterprises can utilize retrieval-augmented generation (RAG) to make AI models aware of their internal data, such as product documentation or customer records. This customization results in more accurate AI-generated outputs with less need for manual editing.
Local Hosting Benefits
Despite the availability of cloud-based AI services, local hosting of LLMs offers significant advantages:
- Data Security: Running AI models locally eliminates the need to upload sensitive data to the cloud, addressing major concerns about data sharing.
- Lower Latency: Local hosting reduces lag, providing instant feedback in applications like chatbots and real-time support.
- Control Over Tasks: Local deployment allows technical staff to troubleshoot and update AI tools without relying on remote service providers.
- Sandbox Environment: Local workstations can serve as sandbox environments for prototyping and testing new AI tools before full-scale deployment.
AMD’s AI Performance
For SMEs, hosting custom AI tools need not be complex or expensive. Applications like LM Studio facilitate running LLMs on standard Windows laptops and desktop systems. LM Studio is optimized to run on AMD GPUs via the HIP runtime API, leveraging the dedicated AI Accelerators in current AMD graphics cards to boost performance.
Professional GPUs like the 32GB Radeon PRO W7800 and 48GB Radeon PRO W7900 offer sufficient memory to run larger models, such as the 30-billion-parameter Llama-2-30B-Q8. ROCm 6.1.3 introduces support for multiple Radeon PRO GPUs, enabling enterprises to deploy systems with multiple GPUs to serve requests from numerous users simultaneously.
Performance tests with Llama 2 indicate that the Radeon PRO W7900 offers up to 38% higher performance-per-dollar compared to NVIDIA’s RTX 6000 Ada Generation, making it a cost-effective solution for SMEs.
With the evolving capabilities of AMD’s hardware and software, even small enterprises can now deploy and customize LLMs to enhance various business and coding tasks, avoiding the need to upload sensitive data to the cloud.
Image source: Shutterstock
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