60 years ago they had to literally “slice” code into punched cards

Nowadays, programmers have countless resources when developing their creations. It was even before the revolution of AI and vibe coding. “Click code” is complex, but at least it is relatively comfortable thanks to modern integrated development environments (IDE) that facilitate programming in all types of languages. Not only that: programming is free, and any relatively modest PC can do it, although AI assistants have increased costs. Half a century ago things were very different, and those who dedicated themselves to programming did so with significant obstacles. There were no personal computers, access to mainframes and servers was only for the privileged and there were not even monitors on which to see how you programmed. Everything was much more artisanal and uncomfortable, and punched cards are the legacy of an era that shows that any past time was not always better. Who needs a screen? I explained it in a Foone Twitter threada technology collector and historian who recounted how programmers got by in 1962. To begin with, those programmers had a very different image than the young people who today create giant companies from scratch with flip-flops in their college dorm room or a garage. These programmers tended to be adults who also dressed in a jacket and tie: the ways were different because to access this world one had to work for large companies, the only ones where you could have access to a mainframe of the time. The example that this technological historian gave was that of IBM 7090one of the first computers based on transistors and not on vacuum tubes, like its predecessor, the IBM 709. That was a revolution in power, because the performance of the previous one was multiplied by six and the IBM 7090 managed to execute 100,000 floating point operations per second. But as we said, to program that computer there was no interface like the current one: you did not write while seeing the code on the screen. They were also not multi-user or multi-threaded systems, so only one person could use “all” that power at a time. That made these machines very precious and very expensive assets that IBM actually rented. In 1962 he rented one of these computers for a month It cost $63,500.which with inflation would be equivalent to $421,000 today. If we do a simple division (a month has about 44,000 minutes), each minute of use of that computer would cost about 10 current dollars. In a couple of hours one had spent the same amount that a good PC or laptop costs today, for example. This imposed clear restrictions when using these machines, because time was money in them. That’s where punched cards came into play, which had a capacity of 80 characters each, the maximum size of a line, although curiously the normal thing was to use only the first 72 characters and not go beyond there. The IBM template allowed you to program on paper without going overboard. To punch the cards, a special machine was used, which for example was manufactured by IBM itself and which could be mechanical or, if they were more modern, electromechanical. The idea was simple: the characters that someone typed on that machine were “translated” on the punched card, where perforations were made according to the characters on each line. To program, you didn’t sit down at that electromechanical machine and start typing commands without stopping. Instead the program was written by hand or typed. IBM had prepared templates that made it possible not to get lost and to avoid exceeding the number of characters per line. Wait, it took a while to run your program This meant that a program with all its lines ended up occupying a stack or deck of punched cards on which were all the instructions of the program, which also had to be perfectly ordered in the appropriate sequence. That deck of punched cards was given to the computer operators, who inserted them along with a task control card that told the system how and for how long it had to be executed, for example. Other programs could be in run queue (remember, it was one job at a time, and other programmers also used the same system), so it wasn’t just arriving and executing. This is what a computer program looked like in the 60s. That program could take a long time to complete its execution, so the programmer did not wait for the result to appear, but rather the operator left both the deck and the printed result in a small cubicle where the programmer could then access to pick it up. The problem, of course, is that the program could be wrong, not work or give an unexpected output. In that case, the error had to be detected, the punched card or cards that caused the error corrected, and the program run again. There were striking advances at that time such as being able to convert punched cards into stored programs on magnetic cassette tapessomething that made the reading of those punched cards faster. That was basically the process that programmers followed in their daily lives, who usually used FORTRAN or COBOL in their programs. These machines were used, for example, for the development of projects such as CTSS (Compatible Time-Sharing System), one of the first operating systems that was programmed by the MIT Computing Center. They were also used by NASA for the Mercury and Gemini space missions, and in fact an IBM 7904 was also used to run the flight planning software on the Apollo missionsbecause it had not yet been programmed for the new System/360 that had been acquired for NASA. There were also more curious applications that are still being explored today: in 1962, mathematicians Daniel Shanks and John Wrench were pioneers in using these computers for mathematical calculations and calculated the first 100,000 decimals of π. A year earlier, another mathematician, Alexander Hurwitz, used an IBM 7090 to discover the two largest prime numbers … Read more

There are discounts on graphics cards, monitors and more

It is never a bad time to renew part of our setup, no matter if we are looking for a new peripheral or directly changing a part of our gaming PC. If we are at that point, we have a very good opportunity right now with the Christmas offers that PcComponentes has active. Store that, in fact, has its own advent calendar with daily offers. This promo, which will last until next December 26has discounts of up to 40% on all types of products such as cell phones, televisions or even video games. With them, we will have it easy to find that perfect gift, no matter if we have a budget of, for example, 30 euros either 100 euros. All taking into account that we will be able to return orders until January 15 and that we even have several options to finance our purchases. As usual, we have laptops, monitors, graphics cards and even notebooks at a good price. To make your task a little easier, we leave you below a selection of some of the most notable discounts: Palit GeForce RTX 5070 graphics card by 545.90 eurosan ideal GPU for gaming at 1440p. MSI MAG 276CXF Monitor by 246.73 euroscurved screen option with a refresh rate of 280 Hz. Toshiba Canvio Basics Hard Drive by 67.95 euroswith 2 TB of storage to take our files everywhere. Logitech G203 Lightsync Mouse by 19.99 eurosa great gaming mouse if we prioritize quality-price. Sapphire PULSE AMD Radeon RX 9060 XT graphics card by 369 eurosideal for achieving top performance at 1080p. Palit GeForce RTX 5070 graphics card If we are looking for a new graphics card, this RTX 5070 from Palit is a great option right now: it is discounted to 545.90 eurosits all-time low so far. It is perfect for playing at 1440p with great performance, all without taking into account that thanks to it we will be able to use a technology as important as the DLSS 4. As for the design, it is a fairly minimalist assembly with three fans. Palit GeForce RTX 5070 Infinity 3 12GB GDDR7 Reflex 2 RTX AI DLSS4 Graphics Card The price could vary. We earn commission from these links MSI MAG 276CXF Monitor Choosing a monitor with a good response time and refresh rate is key if we want a gaming monitor, especially for playing competitive titles. This one from MSI fits there perfectly thanks to its rate of 280 Hz and a response time of 0.5 ms. In addition, it is a curved option, which is ideal for increasing immersion while we play. It is available for 246.73 euros. MSI MAG 276CXF 27″ LED Rapid VA FullHD 280Hz Adaptive Sync Curve Monitor The price could vary. We earn commission from these links Toshiba Canvio Basics Hard Drive Having a portable hard drive can allow us to carry files of all kinds with us from one computer to another, although it can also simply give us extra storage. This Toshiba HDD is one of the brand’s best sellers: it has 2 TB capacity, uses USB 3.2 and we have it available for 67.95 euros. Toshiba Canvio Basics 2TB Portable External Hard Drive USB 3.2 Black The price could vary. We earn commission from these links Logitech G203 Lightsync Mouse There are few things more essential to play comfortably on a PC than a good gaming mouse. There are very interesting wireless options, although we can find wired models with a great quality-price ratio. This Logitech G203 is one of the most used models that is difficult to go wrong with, since it combines comfort, precision and design. It is available for 19.99 euros. Logitech G203 Lightsync 2nd Gen Gaming Mouse 8000DPI RGB Black The price could vary. We earn commission from these links Sapphire PULSE AMD Radeon RX 9060 XT graphics card We close this selection of offers with another graphics card, although this time one from AMD. This is the RX 9060 In this case, it is a much more compact card than the previous one, since it has two fans. Costs 369 euros. Sapphire PULSE AMD Radeon RX 9060 XT 16GB GDDR6 FSR 4 Graphics Card The price could vary. We earn commission from these links Other outstanding offers from PcComponentes Some of the links in this article are affiliated and may provide a benefit to Xataka. In case of non-availability, offers may vary. Images | PcComponentes, Palit, MSI, Toshiba, Logitech, Sapphire In Xataka | Best laptops in quality price. Which one to buy based on use and seven recommended models In Xataka | What is the best laptop for working in 2025. Tips and recommendations

A quarter of a century ago a student put together 32 GeForce graphics cards to play Quake III. CUDA came from there

In the year 2000 Ian Buck wanted to do something that seemed impossible: play Quake III in 8K resolution. Young Buck was studying computer science at Stanford, specializing in computer graphics, and then a crazy idea occurred to him: put together 32 GeForce graphics cards and render Quake III on eight strategically placed projectors. “That,” he explained years later, “was beautiful.” Buck told that story in ‘The Thining Machine’, the essay published by Stephen Witt in 2025 that traces the history of NVIDIA. And of course one of the fundamental parts of that story is the origin of CUDA, the architecture that AI developers have turned into a gem and that has allowed the company to boost and become the most important in the world by market capitalization. And it all started with Quake III. The GPU as a home supercomputer That, of course, was just a fun experiment, but for Buck it was a revelation, because there he discovered that perhaps specialized graphics chips (GPUs) could do more than draw triangles and render Quake frames. In 2006 the GeForce 8800 GTS (and its higher version, the GTX) began the CUDA era. To find out, he delved into the technical aspects of NVIDIA graphics processors and began researching their possibilities as part of his Stanford PhD. He gathered a small group of researchers and, with a grant from DARPA (Defense Advanced Research Projects Agency), began working on an open source programming language that he called Brook. That language allowed something amazing: making graphics cards become home supercomputers. Buck demonstrated that GPUs, theoretically dedicated to working with graphics, could solve general-purpose problems, and also do so by taking advantage of the parallelism offered by those chips. Thus, while one part of the chip illuminated triangle A, another was already rasterizing triangle B and another writing triangle C in memory. It wasn’t exactly the same as today’s data parallelism, but it still offered amazing computing power, far superior to any CPU of the time. That specialized language ended up becoming a paper called ‘Brook for GPUs: stream computing on graphics hardware‘. Suddenly parallel computing was available to anyone, and although that project barely received public coverage, it became something that one person knew was important. That person was Jensen Huang. Shortly after publishing that study, the founder of NVIDIA met with Buck and signed him on the spot. He realized that this capacity of graphics processors could and should be exploited, and began to dedicate more and more resources to it. CUDA is born When Silicon Graphics collapsed in 2005 – due to NVIDIA that was intractable in workstations – many of its employees ended up working for the company. 1,200 of them in fact went directly to the R&D division, and one of the big projects of that division was precisely to take forward this capacity of these cards. John Nickolls / Ian Buck. As soon as he arrived at NVIDIA, Ian Buck began working with John Nickolswho before working for the firm had tried—unsuccessfully—to get ahead of the future with his commitment to parallel computing. That attempt failed, but together with Buck and some other engineers he launched a project to which NVIDIA preferred to give a somewhat confusing name. He called it Compute Unified Domain Architecture. CUDA was born. Work on CUDA progressed rapidly and NVIDIA released the first version of this technology in November 2006. That software was free, but it was only compatible with NVIDIA hardware. And as often happens with many revolutions, CUDA took a while to gel. In 2007 the software platform was downloaded 13,000 times: the hundreds of millions of NVIDIA graphics users only wanted them for gaming, and it remained that way for a long time. Programming to take advantage of CUDA was difficult, and Those first times were very difficult for this projectwhich consumed a lot of talent and finances at NVIDIA without seeing any real benefits. In fact, the first uses of CUDA had nothing to do with artificial intelligence because artificial intelligence was barely talked about at the time. Those who took advantage of this technology were scientific departments, and only years later would the revolution that this technology could cause take shape. A late (but deserved) success In fact, Buck himself pointed this out in a 2012 interview with Tom’s Hardware in 2012. When the interviewer asked him what future uses he saw for the GPGPU technology offered by CUDA in the future, he gave some examples. He talked about companies that were using CUDA to design next-generation clothes or cars, but he added something important: “In the future, we will continue to see opportunities in personal media, such as sorting and searching photos based on image content, i.e. faces, location, etc., which is a very computationally intensive operation.” Here Buck knew what he was talking about, although he did not imagine that this would be the beginning of the true CUDA revolution. In 2012 two young doctoral students named Alex Krizhevsky and Ilya Sutskever They developed a project under the guidance of their supervisor, Geoffrey Hinton. The Nvidia Way: Jensen Huang and the Making of a Tech Giant (English Edition) The price could vary. We earn commission from these links That project was none other than AlexNetthe software that allowed images to be classified automatically and which until then had been a useless challenge due to the cost of the computing it required. It was then that these academics trained a neural network with NVIDIA graphics cards and CUDA software. Suddenly AI and CUDA were starting to make sense. The rest, as they say, it’s history. In Xataka | We can forget about AI without hallucinations for now. NVIDIA CEO explains why

reviewing the best televisions and raffle for five MediaMarkt gift cards

Do you hear that? The doors of the Capitol Cinemas in Madrid are eager to be opened to welcome the Xataka NordVPN Awards 2025. During the gala, which will take place tomorrow at 20:00we will learn about the best technological products of the year in an event that will be full of humor, technology and many surprises. But that will be tomorrow, today it’s time to continue discovering the finalists for the Awards. In recent days we have reviewed the best cars, the best mobile phones and the best AI tools, so now it is time for other very interesting categories that also tend to have a queue: the televisions. To talk about them we will have our usual presenters aka Ana Boria (@ana_borbuj) and server, Jose García (@josedextro), and our colleague specialized in image and sound, Rubén Andrés (@ruben_andres76). Additionally, as in previous programs, we will have a great raffle: five 50 euro gift cards at MediaMarkt They are going to be great now that Black Friday is just around the corner. That being said, here is the summary of today’s day. A review of the best televisions of 2025 Before starting the program, it is worth remembering how the finalists are chosen. During the last weeks, we have published several forms in which you, the xatakeros, you have voted for your favorite devices. These votes have served to define the finalists. In addition, they will join the jury, made up of Xataka editors and colleagues from other media specialized in technology, to decide the winners. Knowing that, televisions. At the Xataka NordVPN 2025 Awards three categories of televisions compete: two old regulars and one new. The usual ones are the best mid-range and entry-level televisions and the best high-end televisions. To these two we have added this year a third, the best super high-end television, a category that seeks to reward the most cutting-edge innovation in televisions. How to get five 50 euro MediaMarkt gift cards During today’s program, in addition to discovering the category in question, we will hold a very special giveaway: five 50 euro gift cards from MediaMarkt. With Black Friday just around the corner, not so bad. Participating is very simple. During the broadcast we will ask a question and the first ten people who answer correctly in the Twitch chat will get a number from one to ten. Those ten participants will advance to the second round, in which our presenters will randomly draw five numbers from a bag. People with those numbers will win the prize. There will be five winners and five substitutes. If any of the winners do not meet the requirements, the prize will go to the first alternate, and so on. The winners will be announced live and must contact Xataka by whispering in the Twitch chat. To participate you must be over 18 years old and resident in Spain. You can consult the complete legal bases at this link. This content is a collaboration and sponsorship between Xataka and the brand, but there is no agreement on the script or the selection of the topics. The editorial content is created entirely by Xataka.

reviewing the best AI tools and giveaway for five MediaMarkt gift cards

In just a couple of days, on November 20 specifically, the gala of the Xataka NordVPN Awards 2025an event in which we will discover the best technological products of the year. It will be a day full of technology, humor and many, many raffles, so, with the aim of making the wait more enjoyable, during these days we are going to review the finalists from some of the juiciest categories. One of the new features this year is the “Best generative artificial intelligence tool” category, a category whose objective is to reward AI services and platforms that, in one way or another, They have become part of our daily lives. We will do it with the help of our regular presenters, namely Ana Boria (@ana_borbuj) and server, Jose García (@josedextro), and a guest of honor: Javier Lacort (@jlacort). Furthermore, and as it could not be otherwise, during the program we will raffle five 50 euro gift cards from MediaMarkt. Not so bad, especially with Black Friday just around the corner. A review of the best generative AI tools of 2025 Generative AI has entered our lives like an elephant in a glass shop. It is no longer a thing for geeks and techies, but tools like ChatGPT, Claude, Gemini or Perplexity have managed to reach less advanced users. With this category we seek to reward these tools. Not to the models, not to the specific functions within a suite, but to the platform as a whole. So that we understand each other, the objective is not to reward GPT-5.1 or Gemini 2.5 Pro. Nor is Nano Banana or the generative edition of Galaxy AI. This category rewards the tool, that is, ChatGPT, Google Gemini or Galaxy AI. It should be noted that the finalists that we will meet today have been chosen by the xatakeros with their votes. How to get five 50 euro MediaMarkt gift cards During today’s program (and also in future ones), in addition to discovering the category in question, we will hold a very special raffle: five 50 euro gift cards from MediaMarkt. With Black Friday just around the corner, not so bad. Participating is very simple. During the broadcast we will ask a question and the first ten people who answer correctly in the Twitch chat will get a number from one to ten. Those ten participants will advance to the second round, in which our presenters will randomly draw five numbers from a bag. People with those numbers will win the prize. There will be five winners and five substitutes. If any of the winners do not meet the requirements, the prize will go to the first alternate, and so on. The winners will be announced live and must contact Xataka by whispering in the Twitch chat. To participate you must be over 18 years old and resident in Spain. You can consult the complete legal bases at this link. This content is a collaboration and sponsorship between Xataka and the brand, but there is no agreement on the script or the selection of the topics. The editorial content is created entirely by Xataka.

reviewing the best mobile phones and raffle for five MediaMarkt gift cards

It’s this week! This Thursday the gala of the Xataka NordVPN Awards 2025 in which we will learn about the best technological products of the year. While it arrives, we are going to get hungry reviewing the finalists in each category. In this second installment of the Xataka Awards Special Week we have chosen one of the categories that have historically generated the most debate: the best mobile phones. In today’s program (the first of several that we will also do next week) it will start at 4:00 p.m. Spanish peninsular time on our Twitch channel. It will be presented by Ana Boria (@ana_borbuj) and a server, Jose García (@josedextro). In addition, we will be accompanied by Amparo Babiloni (@amparanoiada), a guest of honor who has had the privilege of testing this year’s main high-end terminals. And if that were not enough, we have a great raffle and, what’s more, at the best possible time. The reason? Black Friday is just around the corner, and we are going to give away five gift cards of 50 euros each to spend at MediaMarkt. We tell you all the details. A review of the best mobile phones of 2025 Before starting the program, it is worth remembering how the finalists are chosen. During the last weeks, we have published several forms in which you, the xatakeros, have voted for your favorite devices. These votes have served to define the finalists. In addition, they will join the jury, made up of Xataka editors and colleagues from other media specialized in technology. Together, we will choose the winners who will be announced during the gala. With that clear, in today’s program we will talk about mobile phones. At the Xataka NordVPN 2025 Awards we have five categories: best foldable, best entry-level mobile (up to 249.99 euros), best mid-range (from 250 to 499.99 euros), best high-end (from 500 to 999.99 euros) and best super high-end (from 1,000 euros). We will touch on all the styles, but we will put special emphasis on these last two categories. How to get five 50 euro MediaMarkt gift cards During today’s program (and also in future ones), in addition to discovering the category in question, we will hold a very special raffle: five 50 euro gift cards from MediaMarkt. With Black Friday just around the corner, not so bad. Participating is very simple. During the broadcast we will ask a question and the first ten people who answer correctly in the Twitch chat will get a number from one to ten. Those ten participants will advance to the second round, in which our presenters will randomly draw five numbers from a bag. People with those numbers will win the prize. There will be five winners and five substitutes. If any of the winners do not meet the requirements, the prize will go to the first alternate, and so on. The winners will be announced live and must contact Xataka by whispering in the Twitch chat. To participate you must be over 18 years old and resident in Spain. You can consult the complete legal bases at this link. This content is a collaboration and sponsorship between Xataka and the brand, but there is no agreement on the script or the selection of the topics. The editorial content is created entirely by Xataka.

reviewing the best cars and raffle for five MediaMarkt gift cards

We don’t stop, in Xataka we don’t stop. If just a few hours ago we were with Xataka Live, today the Special Week begins Xataka NordVPN Awards 2025. And what does it consist of? Well, while we wait for the gala to arrive on November 20, we are going to warm up our engines meeting the finalists of the different categories. Today is the first program and we are going to focus on two of the most disputed: the best hybrid and electric cars. Today’s program, November 13, will start at 4:00 p.m. Spanish peninsular time on our Twitch channel. It will be presented by Ana Boria (@ana_borbuj) and Angela Blanco (@angelablancof); but they will not be alone. During these programs we are always accompanied by an in-house editor specialized in the subject. Today we are talking about cars, so that person could not be other than Alberto de la Torre. And if this were not enough, we have a brutal and super timely giveaway. Because? Because Black Friday is just around the corner and we are going to raffle five gift cards of 50 euros each from MediaMarkt. We tell you everything. A review of the best cars of 2025 Before starting the program, it is important to remember how the finalists are chosen. In recent weeks, we have shared various forms where you, the xatakeros, have voted for your favorite devices. These votes have been responsible for defining the finalists. In addition, those same votes will be added to those of the jury, which is made up of editors from Xataka and colleagues from other media specialized in technology. Thus, together we will choose the winners who will be announced during the gala. That said, today it’s time to talk about cars. In the Xataka NordVPN 2025 awards we have two categories: the best technological electric cars and the best technological hybrid cars. You can see the candidates here and here You have the vehicles that the xatakeros have chosen as finalists. Today, with Alberto, we will get to know them better. You still have time to get your tickets for the gala Xataka NordVPN Awards 2025 on November 20 in Madrid! Join us and discover the best technological products of the year in a free event full of gadgets, humor and surprises. Advice offered by the brand How to get five 50 euro MediaMarkt gift cards In addition to learning about these two categories from Alberto, during today’s program (and all those to come) we will raffle five 50 euro gift cards from MediaMarkt. With Black Friday just around the corner, this prize is going to come as no surprise. How are they obtained? Participating in our giveaway. During today’s program we will ask a question. The first ten people to answer correctly in the Twitch chat will be assigned a number from one to ten and will advance to the second round. In this one, our presenters will draw five random numbers from a bag. The entries corresponding to that number will win the prize. Five winners and five substitutes will be selected. If any of the winners do not meet the requirements, they will be moved to the first alternate. If this one does not comply either, the second one will be resorted to, and so on. The winner will be chosen live and must contact Xataka through a whisper in the Twitch chat. In addition, the winner must be over 18 years old and resident in Spain. The legal bases can be found at this link. This content is a collaboration and sponsorship between Xataka and the brand, but there is no agreement on the script or the selection of the topics. The editorial content is created entirely by Xataka.

The absurd legal battle between Elon Musk and the game “Cards Against Humanity” has ended in a bittersweet ending

The creators of the irreverent card game Cards Against Humanity have reached an out-of-court settlement with SpaceX, ending a legal dispute financed by his own fans. Although they promised to distribute the 15 million dollars they would receive from the company if they won the trial, there will be no trial to hold No money to distribute. The origin of the dispute. The story begins in 2017. Cards Against Humanity raised $2.25 million from its fans to buy land in cameron countyTexas. The goal? Legally block the construction of the wall promoted by Donald Trump on the border with Mexico. The purchase of the plot was possible, in addition to the ingenious marketing campaign, thanks to 150,000 donations of $15 each. The problem arose when SpaceX, which has the Starbase launch complex right next door, began using the empty Cards Against Humanity plot to store material. Elon Musk against the card game. In 2024, Cards Against Humanity accused SpaceX of invade your property for at least six months. In addition to starting a new marketing campaign, this time against Elon Musk, the owners of the game sued the company for depositing construction materials, gravel and debris on their plot without permission. Amid insults against Musk, whom they called “a billionaire even richer and more racist than Trump,” Cards Against Humanity promised $100 for each of the 150,000 crowdfunding participants. As? Demanding $15 million from SpaceX as compensation for the crime. Bittersweet ending. Finally, Cards Against Humanity has informed its fans that there will be no trial. SpaceX and the card game have reached an out-of-court agreement whose figure has not been revealed, but which the creators of the game describe like “Musk did the legal equivalent of throwing dust in our eyes and kicking us in the balls.” So why have they accepted it? Cards Against Humanity explained that a trial “would have cost more than we probably would have earned from SpaceX.” “According to Texas law,” they add“we probably wouldn’t have been able to recover our legal costs. We had the truth on our side, but Musk and SpaceX could have easily outspent us.” How will they compensate the fans? This is where the story takes a Cards Against Humanity turn. The 150,000 donors who helped buy the land will not receive cash, but only “comedy.” The company will send all entrants “a new, exclusive mini-pack of cards about Elon Musk,” which they hope to ship in early 2026. In an email to fans, the company summed it up: “Since we can’t give you what you really wanted—cash from Elon Musk—we’re going to make it up to you…with comedy!” The land is empty again. Images | Ministry of Communications of Brazil, Mercado Libre In Xataka | A genius named Tom Mueller designed the engines for the Falcon 9. And now that genius wants to beat SpaceX on its own turf

Madrid has been filled with great fortunes and not by chance: it has known how to play its fiscal cards better than anyone

During the last decade, Madrid has become the epicenter of money in Spain. Not only does it concentrate the headquarters of large companies and banks, but it has also become a magnet for large international and national fortunes. According to a study published by Fernando Rodrigo Sauco from the University of Zaragoza, based on the latest data from the Tax Agency, 41.9% of taxpayers with assets exceeding three million euros live in the Community of Madrid, compared to 22% who resides in Catalonia. A tax shelter within Spain. The high-net-worth migration trend analyzed in the study is not new, but it has intensified over the years. Since 2011, thousands of large fortunes have moved their tax residence to Madrid. The main reason why millionaires have gathered in the capital It is due to a more permissive tax policy with large wealth groups and the network effect of living close to where the wealth is concentrated. business and financial activity. What began as a tax difference has become a true geography of money within Spain. In Xataka 64% of Spaniards believe that they pay more in taxes than they receive from the State. It’s actually the other way around The rich live in Madrid or Catalonia. The report data indicates that 58.3% of the 1% of the richest population in Spain reside in Madrid (32.51%) and Catalonia (25.8%). Further away we find the Valencian Community, with a census of 9.76% of the country’s great fortunes, and Andalusia with 6.71%. However, if the bar is raised to the highest decile of the ultra-rich population –rich among the richest— which corresponds to 0.1% of the population, then the concentration is even more pronounced, with 68.59% of these great fortunes residing in one of the two communities, but the differences are beginning to be appreciated. In Madrid the percentage of ultra-rich increases up to the aforementioned 41.9, while in Catalonia they only amount to 26.69%. The presence of these ultra-rich residents in other communities remains more or less in the same proportions as that of the rich, with 8.2% in the Valencian Community and 6.31% in Andalusia. In Xataka Tell me where you live and I will tell you how much money you have: this is how wealth is distributed in the neighborhoods and municipalities of Spain Rooting conditioning. The study analyzes the conditions that can be decisive for a great fortune decide to pack your bags and move to the capital. This is what the study calls “migration elasticity” and defines, for example, the number of millionaires who would move if a certain tax (such as wealth tax) increased by 1% more or was reduced by the same proportion. In summary, what weight would taxation have in the decision over other factors such as roots, family, language or public services. In this context, until fiscal 2023Madrid maintained a 100% bonus on the wealth tax, which in practice means that the great fortunes residing in that community They did not pay that tribute. In the rest of the country, the tax can reach up to 3.5% of net assets. Added to this is a somewhat lower personal income tax in the upper brackets and the absence of inheritance tax for direct inheritances. Therefore, taxation gained weight in the decision to change residence. {“videoId”:”x8k9arv”,”autoplay”:false,”title”:”You could be LOSING MONEY with your 2022 INCOME RETURN”, “tag”:”Webedia-prod”, “duration”:”402″} A paradigm shift. The result of this tax policy that is friendly to large assets has been clear: between 2011 and 2015, more than 6,000 large fortunes moved to Madrid. According to the study, that flow remained constant over the next decade. However, in 2023 a differentiating factor came into play, the effects of which are not yet known: the entry into force of the temporary solidarity tax on large fortunes. This new tax applied a rule in which, with the excuse of avoiding double taxation, the State began to collect wealth tax that the communities that had it subsidized were not collecting. According to a report According to the Tax Agency, the 27.6% of large fortunes who paid the Wealth Tax in 2022 rose to 99% in 2023. Skyrocketing its collection in Madrid and Andalusia, where it was previously subsidized. That is to say, that tax advantage that previously conditioned the concentration of capital in Madrid has been diluted. In a few years we will see if this paradigm shift once again conditions the residence of the great fortunes. In Xataka | How much money do you need to be among the richest 1% in Spain Image | Unsplash (Manoa Angelo) (function() { window._JS_MODULES = window._JS_MODULES || {}; var headElement = document.getElementsByTagName(‘head’)(0); if (_JS_MODULES.instagram) { var instagramScript = document.createElement(‘script’); instagramScript.src=”https://platform.instagram.com/en_US/embeds.js”; instagramScript.async = true; instagramScript.defer = true; headElement.appendChild(instagramScript); } })(); – The news Madrid has been filled with great fortunes and not by chance: it has known how to play its fiscal cards better than anyone was originally published in Xataka by Ruben Andres .

Bhutan and the 800,000 ID cards with Ethereum

Bhutan does not measure its quality of life by Gross Domestic Product (GDP). It is measured by an indicator called Brutal National Happiness (GNH). The small South Asian country is also peculiar for other things. For example: his spectacular commitment to cryptocurrencies. Not as a reserve of value, but attention, as a way of identifying its citizens. what has happened. Bhutan is migrating its national identification system with one based on the Ethereum blockchain, the second most important cryptocurrency in the world by capitalization. That ID system integration with Ethereum has already been completed, and the migration of all Bhutanese resident credentials will be completed in the first quarter of 2026. A very royal ceremony. Ayya ​​Miyaguchi, president of the Ethereum Foundation, explained in X how he traveled with Ethereum co-founder Vitalik Buterin to celebrate the launch ceremony of this new national identity card in Bhutan. They accompanied the Prime Minister of Bhutan, Tshering Tobgay, and the young prince of the kingdom, Jigme Namgyel Wangchuk, who is 9 years old, at this event. Let us remember that Bhutan is actually the Kingdom of Bhutan and as a form of government it has a constitutional monarchy. A country dedicated to cryptocurrencies. Bhutan has been clearly favorable to this segment for years. The country has been silently mining bitcoin in the Himalayas for years, and has not gone beyond accumulating bitcoin. In fact, it is the fifth country in investment in bitcoin: it currently has 11,286 bitcoin, which is equivalent to 1,084 million euros. The only countries that have more bitcoin are the US, China, the United Kingdom and Ukraine, all of them with many more resources and populations (Bhutan has a population of 800,000 people). They had already tried other cryptos. This is not the first move Bhutan has made to move its identification system to a cryptocurrency-based one. In August 2024 Bhutan announced the migration successful of their identification system to the Polygon blockchain, another popular cryptocurrency, but they had previously used another lesser-known crypto platform called Hyperledger Indy. The ButhanNDI App, available in the App Store, it has a very low score (1.6 out of 5) in the 65 votes registered. Independence and decentralization. The Ethereum blockchain prevents Bhutan from being dependent on a single technology provider or centralized infrastructure, strengthening its digital sovereignty. The official announcement itself talks about how Bhutan will benefit from the improvement in “security, transparency and resilience” of the identity system. You control your identity. The Ethereum organization itself exposes the advantages of this alternative to provide a “decentralized identity” through decentralized identifiers. That means that citizens can expose some of their personal information without depending on a government database: control over the data is moved to the individual. But also risks. Among them, that of privacy. The Ethereum blockchain is public, and although only hashes and references to operations are noted, an identity system is especially delicate. Ethereum’s structure may impose certain fees when trading that data. There is also the fact that applying this technology can cause a digital divide to appear between citizens, in addition to raising technological dependence on third parties such as developers or security experts who know this blockchain. Spain and Europe are going another way. For years the European Union has dreamed of having its own pan-european identity card. Our “digital wallet“It will include our ID, our driving license, a payment wallet and a password wallet, all in the same application. This app, which theoretically will be voluntary, will actually be mandatory, and its implementation and characteristics have already been raised many doubts and criticism regarding the privacy and security it will provide. There is no intention in this project to propose the use of a decentralized blockchain: the eIDAS 2.0 regulation, which requires compliance with the GDPR, the right to rectification and the right to be forgotten, for example, make it incompatible with the immutability of Ethereum. Image | Taktsang Monastry | traxer In Xataka | Didit is the Spanish project that already offers what Europe wants to end up having: a digital identity for everything

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