Welcome to Nofinity

Dr. Layne Norton explains the complex science behind 'calories in, calories out'.

• Calories: A measure of energy, specifically heat. It's about the chemical energy in macronutrients.
• ATP: The final product of energy extraction from food is adenosine triphosphate (ATP), the body's energy currency.
• Calories In: More difficult to track than assumed:
  • Food labels can have up to a 20% error.
  • Metabolizable energy varies: Insoluble fiber provides hardly any calories as it remains undigested.
  • The individual gut microbiome can influence energy extraction.

Energy expenditure consists of several parts:

1. Resting Metabolic Rate (RMR): 50-70% of daily expenditure.
2. Thermic Effect of Food (TEF): 5-10%. The energy cost of digestion:
   • Fat: ~0-3% TEF (very easy to metabolize)
   • Carbohydrates: ~5-10% TEF
   • Protein: ~20-30% TEF (most costly and satiating)
3. Exercise: Planned activity like sports.
4. NEAT: 'Non-Exercise Activity Thermogenesis' (daily movement like fidgeting, gesturing). Can amount to hundreds or even a thousand calories per day and is highly modifiable.

• Protein is key for diet success and muscle building.
  • Recommendation: 1.6 g per kg of body weight, more yields little additional benefit (plateau effect).
  • Benefits: High thermogenesis, preservation of lean mass, high satiety.
• The '30g limit': Not a strict rule. Total daily protein is more important than distribution, though even distribution can be slightly better.

• Animal protein (e.g., steak, eggs) is more complete and bioavailable, rich in leucine, and without accompanying carbs.
• Plant protein requires more planning. It is often:
  • Less bioavailable.
  • Lower quality (less leucine, fewer essential amino acids).
  • Packaged with carbs and fats, complicating calorie control.
• Practical solution for vegans: Use isolated protein sources (e.g., soy) or supplement with leucine. Corn protein isolate is rich in leucine and can be blended.
• Leucine is the main driver of muscle protein synthesis.

• Minimally processed foods are generally preferable, as processed food leads to a spontaneous increase in calorie intake (up to 500 kcal more per day).
• Exception: For high calorie needs (e.g., strength athletes), processed foods are practical for meeting energy demands.
• Artificial Sweeteners (NNS): A clear yes as a replacement for sugary drinks. The weight loss vastly outweighs any potential minor effects on the gut microbiome.

• No convincing evidence from human trials that seed oils are harmful in isolation.
• The problem: They are energy-dense and their high presence in processed foods has contributed to calorie overconsumption.
• Recommendation: Unsaturated and polyunsaturated fats are likely better than saturated fats. Total calories and energy balance are what matter most.

• Creatine Monohydrate: The safest and most researched supplement for muscle building.
• Effect: Improves strength and performance, increases lean mass and recovery. Also shows cognitive benefits.
• Dosage: 5 g per day. No loading phase is needed, but possible (with higher risk of GI issues).
• Myths: No evidence for kidney damage or hair loss. The one study on hair loss showed an increase in DHT, not hair loss itself, and has never been replicated.

• No Magic Diet: There's no perfect diet, only healthy dietary patterns. Sustainability is crucial.
• Focus: Hard training, sufficient protein, and a consistent, sustainable approach are more important than perfecting details. "You can't out-science hard training."

Summary follows...

Visa is integrating OUSD (Open USD), a new stablecoin backed by a consortium of over 167 companies – including BlackRock, Mastercard, Stripe, Coinbase, and Google. Unlike USDT (Tether) and USDC (Circle), OUSD is not controlled by a single issuer but governed by the Open Standard alliance.

Key Differences

• Free minting & redemption for partner companies
• Revenue sharing: Nearly all interest income from reserve assets is distributed to partners – Open Standard only retains a small operational fee.
• Collaborative governance: Decisions are made collectively, not by one entity.

Why This Threatens Circle and Tether

• Circle generated ~$770M in Q4 2025, Tether $10B in annual profit – mostly from T-bill interest.
• OUSD’s model: If it generates $1B in its first year, each of the 167 partners would receive ~$6M.
• Market reaction: Circle’s stock dropped 17% after the announcement; Mizuho downgraded CRCL from Neutral to Underperform, cutting the price target from $85 to $50.

Visa’s Strategy: Not Just One Coin

Visa’s CEO insists the company remains multi-coin and multi-chain. OUSD is only the first stablecoin on Visa’s new platform for banks and fintechs. Visa continues to support USDC, EURC, PYUSD, and others. The real product is the infrastructure, not favoritism.

Potential Market Impact

• Circle may have to share more reserve income with partners to retain them.
• Tether is less affected – its focus is on emerging markets, while OUSD targets institutional and commercial payments.
• Skepticism: Previous consortium models (e.g., Paxos USDG) struggled. OUSD’s success depends on real liquidity and user adoption.

Ironic Twist

Traditional financial institutions (Visa, Mastercard, BlackRock) are now building the next generation of on-chain dollars – the very institutions crypto was supposed to disrupt.

Conclusion

OUSD could challenge the duopoly of USDT and USDC, but it must first build trust and liquidity. Even if it fails, it forces incumbents to improve their terms. The era of unchallenged dominance for Tether and Circle is ending.

📊 You vs. Average: Money, Income and Wealth in Germany

In this video, Markus from Finanzf shows where you stand compared to the average German – from income and spending to wealth and pension.

• Average salary (full-time, 2025): €6,441 gross/month
• Median income: €5,466 – earning more means you belong to the richer half
• Income distribution:
  • Bottom 10%: up to €33,828
  • Bottom third: approx. €44,000
  • Top 20%: from about €80,000
  • Top 10%: from about €100,000
  • Top 1%: from €219,110

• 76% live mainly from employment (men 83%, women 69%)
• 8% from relatives (mostly women: 13%)
• 6% from unemployment benefits
• 5% from pension
• 3% from social welfare/sick pay
• 1% from parental allowance (almost only women)
• 1% from own assets

• Threshold: 60% of median net household income
• Single person: below €1,446 net/month
• 2 adults + 2 children (<14): below €3,036
• 16.1% of the population at risk of poverty (2025)
  • Highest rates: unemployed (64.9%), singles (30.9%), single parents (28.7%), retirees (19.1%)

• Housing: 38% (2018: 34%) – for low-income households (<€1,300 net) even 46%
• Food: 14%
• Transport: 12%
• Leisure/Sports/Culture: 9%
• Restaurants/Hotels: 7%
• Information/Communication: 5%
• Clothing/Shoes: 4%

• Homeownership rate: 47% (EU's lowest; EU average 68%)
  • Leader: Romania (94%)
  • In Germany: Saarland 60%, Berlin only 16%

• Savings rate: 10.3% (2024: 11.2%; EU average 8%)
• Gross savings rate: 20% (EU 14.6%)
• Emergency fund: 32% of households cannot cover an unexpected €1,300 expense
• Over-indebtedness: 8.16% of adults
  • Causes: 23% for single parents (separation/divorce/death), 18% illness/accident, 17% unemployment

• Median: €10,300 per household (Eurozone: €14,000)
  • Bottom 10%: up to €800
  • Bottom 40%: up to €50,000
  • Top 20%: from €471,000
  • Top 10%: from €775,000
• Why little wealth despite saving?
  • 65% of financial assets are low-risk (cash, accounts, guaranteed insurance)
  • Only 23% in capital markets (14% funds, 7% stocks, 2% bonds)
  • Real return (inflation-adjusted): only 0.6% p.a. – only the richest 10% achieve positive real returns
  • Positive: 2025, 14 million people owned stocks/funds/ETFs (record) – especially younger people (14–39) and those in Bavaria

• Median gross pension: between €900 and €1,200 – 50% receive even less
• Large gender gap

Conclusion: Germans save a lot but with low returns – and the state pension is often insufficient. This comparison helps to realistically assess your own financial position.

Mixed Signals in the U.S. Labor Market

This video breaks down the latest labor market data and why the Fed is facing uncertainty.

• Non-farm payrolls came in at 23,000 vs. expectations of 80,000 – the first negative monthly change since 2025.
• Despite weak job growth, the unemployment rate dropped from 4.5% (November) to 4.1%.
• Reason: The labor force participation rate fell sharply from 62.5% to 61.4%. Many people have stopped looking for work and are no longer counted as unemployed.
• Layoffs remain low: Initial jobless claims hit 189,000 – the lowest level in decades.
• Regional divergence: Some states see rising unemployment, others falling. Unlike a typical recession (e.g., 2008), the whole country is not affected.
• Globally, the GDP-weighted unemployment rate is ticking up but has recently stabilized.

• The probability of a Fed rate hike in September is only about 44%.
• Several central banks (Brazil, South Korea, Australia) have resumed rate hikes; the global easing cycle has stalled.
• Recession risk remains low according to the dashboard. As long as initial claims stay below 300,000, no imminent recession.
• A stock market correction is expected around mid-September, similar to prior midterm years (2014, 2018, 2022).

Bottom line: The labor market sends mixed signals – weak job creation, but few layoffs and falling unemployment due to workers dropping out. The Fed is cautious, while markets await a clear direction.

The Eureka Zero 55S is a revised single-dosing grinder priced at around €250 – a significant drop from its predecessor (€330–400) due to production shifting to China. It targets beginners on a tight budget who still want quality espresso at home.

• King‑Size grind adjustment wheel: Enables fine, reproducible settings – a huge improvement over the old mini‑wheel.
• Front lever: Starts/stops grinding without reaching behind – more accessible and practical.
• Portafilter holder with integrated switch; assembly requires Phillips screws (an “IKEA moment”).

• Narrow, tall main peak (around 205 µm) – many uniform particles.
• High fines peak (>40%) – many small particles that can cause a dry, dusty aftertaste.
• Tip: For drier coffees, grind slightly coarser and extract shorter (25–26 seconds).
• Overall body‑forward – clarity from the main peak, but always plenty of texture.

• 18 g in 10.5 seconds, ~21 g/min – solid mid‑range.
• 83 dB – quiet operation, typical pleasant Eureka grinding sound.
• Temperature stable over 5 consecutive shots.

• Grind setting stays intact when opening (adjustment from below) – major plus.
• Still requires a Phillips screwdriver, removal of logo plate and burrs – somewhat fiddly.
• Recommendation: Purge with grinder cleaner every 1–2 weeks, disassemble and brush monthly.

• Temporary retention: 1.1 g – relatively high for a single‑dosing grinder.
• Permanent retention: 1.6 g – total 2.7 g.
• A tilting base (forward tilt) can reduce temporary retention by about 0.5 g.
• Consistency is good nonetheless: standard deviation of 0.05 g over five consecutive grinds.

• For €250, a very solid entry‑level grinder that handles 60–70% of all coffees well.
• Ideal paired with a budget espresso machine (total setup from ~€400).
• No digital weak points – pure mechanical quality.
• Caveat: High retention requires a bit more care and regular cleaning.

Testers’ verdict: Fun to use, delivers tasty espresso, and offers excellent value in its price range.

This video explains why tokenized stocks (RWAs) are revolutionizing the stock market. They offer 24/7 trading, lower fees, faster settlement, and transparency via the blockchain. Traditional stocks are limited to exchange hours and require multiple intermediaries.

Problems of the First Generation of Tokenized Stocks

• No real shareholder rights (no voting rights, ownership stays with the custodian)
• Low liquidity (thin secondary markets, wide spreads)
• Regulatory uncertainty and high complexity due to cross-chain bridges

BitGet's Stock 2.0 Model

BitGet introduced two products: Stock Plus and R Tokens.

• Stock Plus: Enables direct ownership of over 10,000 stocks. You invest directly, receive cash dividends, and can transfer stocks from other brokers.
• R Tokens: Tokenized US stocks and ETFs that track the price 1:1. No direct ownership, but compatible with DeFi (use as collateral, futures, copy trading, grid trading). You receive dividends automatically in USDT.

Benefits of R Tokens on BitGet

• One account for crypto and tokenized stocks
• Automated strategies via trading bots (Auto Invest, Smart Portfolios)
• First Cross-Asset Unified Account (UTA): Over 370 tokenized assets in a single margin pool
• Commission-free trading for R tokens, no management fees
• Up to $500,000 SIPC protection through the partner broker Alpaca

Risks & Conclusion

R tokens do not offer voting rights, dividends may be subject to deductions, and trading is not always 24/7. Using them as collateral carries liquidation risks. However, the potential is huge: Even a 1% tokenization of global stocks creates a multi-trillion dollar market by 2030. BitGet's Stock 2.0 could take a leading role.

Expert opinion: CEO Gracie Chen predicts that about 10% of all financial assets will be tokenized by 2030.