Here’s my official announcement/OpEd article via Newsweek for running for California Governor as a Libertarian. Thanks for reading it!
Futurist Zoltan Istvan believes California could become the world’s largest economy.
At the heart of Bitcoin or any Blockchain ledger is a distributed consensus mechanism. It’s a lot like voting. A large and diverse deliberative community validates each, individual user transaction, ownership stake or vote.
But a distributed consensus mechanism is only effective and faithful if the community is impartial. To be impartial, voters must be fairly separated. That is, there must be no collusion enabled by concentration or hidden collaboration. They must be separated from the buyer and seller; they must be separated from the big stakeholders; and they must be separated from each other. Without believable and measurable separation, all sorts of problems ensue. One problem that has made news in the Bitcoin word is the geographical concentration of miners and mining pools.
A distributed or decentralized transaction validation is typically achieved based on Proof-of-Work (POW) or Proof-of-Stake (POS). [explain]. But in practice, these methodologies exhibit subtle problems…
The problem is that Proof-of-Work can waste an enormous amount of energy and both techniques result in a concentration of power (either by geography or by special interest) — rather than a fair, distributed consensus.
In a quasi-formal paper, C.V. Alkan describes a fresh approach to Blockchain consensus. that he calls Distributed Objective Consensus. As you try to absorb his mechanism, you encounter concepts of Sybil attacks, minting inequality, the “nothing-at-stake” problem, punishment schemes and heartbeat transactions. Could Alkan’s distributed consensus mechanism be too complex for the public to understand or use?…
While I have a concern that time stamps and parent-child schemes may degrade user anonymity, the complexity doesn’t concern me. Alkan’s paper is a technical proposal for magic under the covers. Properly implemented, a buyer and seller (and even a miner) needn’t fully understand the science. The user interface to their wallet or financial statement would certainly be shielded from the underlying mechanics.
Put another way: You would not expect a user to understand the mechanism any more than an airline passenger understands the combustion process inside a jet engine. They only want to know:
• Does it work? • Is it safe? • Is it cost effective? • Will I get there on time?
So will Alkan’s Decentralized Objective Consensus solve the resource and concentration problems that creep into POW and POS? Perhaps. At first glance, his technical presentation appears promising. I will return to explore the impact on privacy and anonymity, which is my personal hot button. It is a critical component for long term success of any coin transaction system built on distributed consensus. That is, forensic access and analysis of a wallet or transaction audit trail must be impossible without the consent and participation of at least one party to a transaction.
Philip Raymond co-chairs CRYPSA and The Bitcoin Event. He is a Lifeboat board member, editor
at AWildDuck and will deliver the keynote address at Digital Currency Summit in Johannesburg.
Early probes are one thing, but can we build a continuing presence among the stars, human or robotic? An evolutionary treatment of starflight sees it growing from a steadily expanding presence right here in our Solar System, the kind of infrastructure Alex Tolley examines in the essay below. How we get to a system-wide infrastructure is the challenge, one analyzed by a paper that sees artificial intelligence and 3D printing as key drivers leading to a rapidly expanding space economy. The subject is a natural for Tolley, who is co-author (with Brian McConnell) of A Design for a Reusable Water-Based Spacecraft Known as the Spacecoach (Springer, 2016). An ingenious solution to cheap transportation among the planets, the Spacecoach could readily be part of the equation as we bring assets available off-planet into our economy and deploy them for even deeper explorations. Alex is a lecturer in biology at the University of California, and has been a Centauri Dreams regular for as long as I can remember, one whose insights are often a touchstone for my own thinking.
By Alex Tolley
Posthumanists and perhaps especially transhumanists tend to downplay the value conflicts that are likely to emerge in the wake of a rapidly changing technoscientific landscape. What follows are six questions and scenarios that are designed to focus thinking by drawing together several tendencies that are not normally related to each other but which nevertheless provide the basis for future value conflicts.
The French Polynesian government, earlier this year, officially signed an agreement with The Seasteading Institute to cooperate on creating legal framework to allow for the development of The Floating Island Project. The legislation will give the Floating Island Project it’s own “special governing framework” creating an “innovative special economic zone”.
Research can seem bland to us laypersons. But, Marko Vukolić shares many of my research interests and he exceeds my academic credentials (with just enough overlap for me to understand his work). So, in my opinion, his writing is anything but bland…
Vukolić started his career as a post-doc intern at IBM in Zurich Switzerland. After a teaching stint as assistant professor at Eurecom and visiting professor at ETH Zurich, he rejoined the IBM research staff in both cloud computing infrastructure and the Blockchain Group.*
As a researcher and academic, Vukolić is a rising star in consensus-based mechanisms and low latency replicated state machines. At Institut Mines-Télécom in Paris, he wrote papers and participated in research projects on fault tolerance, scalability, cloud computing and distributed trust mechanisms.
Now, at IBM Zurich, Vukolić has published a superior analysis addressing the first and biggest elephant in the Bitcoin ballroom, Each elephant addresses an urgent need:
Regarding the first elephant, scalability, Bitcoin urgently needs to grow its Blockchain dynamics into something that is living and manageable. To that end, Vukolić refers to a transaction bookkeeping mechanism that works as a “fabric”. That is, it does not require every miner to access the history-of-the-world and append each transaction onto the same chain in serial fashion. Rather than growing an ever bigger blockchain—with ever bigger computers—we need a more 3D approach that uses relational databases in a multi-threaded, transactional environment, while still preserving the distributed, p2p trust mechanisms of the original blockchain.
While clearly technical, it is a good read, even for lay enthusiasts. It directly relates to one of the elephants in the room.
I have pasted Marko’s Abstract below. The full paper is 10½ pages (14 with references).
Bitcoin cryptocurrency demonstrated the utility of global consensus across thousands of nodes, changing the world of digital transactions forever. In the early days of Bitcoin, the performance of its probabilistic proof-of-work (PoW) based consensus fabric, also known as blockchain, was not a major issue. Bitcoin became a success story, despite its consensus latencies on the order of an hour and the theoretical peak throughput of only up to 7 transactions per second.
The situation today is radically different and the poor performance scalability of early PoW blockchains no longer makes sense. Specifically, the trend of modern cryptocurrency platforms, such as Ethereum, is to support execution of arbitrary distributed applications on blockchain fabric, needing much better performance. This approach, however, makes cryptocurrency platforms step away from their original purpose and enter the domain of database-replication protocols, notably, the classical state-machine replication, and in particular its Byzantine fault-tolerant (BFT) variants.
In this paper, we contrast PoW-based blockchains to those based on BFT state machine replication, focusing on their scalability limits. We also discuss recent proposals to overcoming these scalability limits and outline key outstanding open problems in the quest for the “ultimate” blockchain fabric(s). Keywords: Bitcoin, blockchain, Byzantine fault tolerance, consensus, proof-of-work, scalability, state machine replication
* Like Marko, Blockchains, Cloud computing, and Privacy are, also my primary reserach interests, (GMTA!). But, I cede the rigorous, academic credentials to Marko.
† BFT = Byzantine Fault Tolerant consensus protocols
Related—and recently in the news:
Raymond co-chairs CRYPSA and The Bitcoin Event. A columnist & board member at Lifeboat Foundation
he edits AWildDuck. He will deliver the keynote address at Digital Currency Summit in Johannesburg.
After labor, not all of us will want to explore inner consciousness. Abundant leisure will not turn everyone into the Buddha. Many of our tastes are in the gutter, and I have no objection to leaving them there. I’m not a fan of shopping per se, but buying stuff is deeply satisfying and motivating for many people. Is it possible to rethink the pleasure of conspicuous consumption in a way that decouples it from the competitive labor economy? The post-work world I’m imagining will have little surplus money for unnecessary shopping, even if robots and computers can dramatically lower the overhead of such production. So, a non-consummatory form of shopping will have to be cultivated.
Some people marshal all their evolved predatory skills to hunt down the perfect sweater, shoes, or watch. Could we redesign shopping as a system of “catch-and-release,” so that, like sport fishing, it’s the adventure and not the prize that becomes central? Maybe we will hunt for luxury items, but then instead of keeping them, simply photograph ourselves wearing the items (like a fisherman holding a giant pike). It’s an unlikely adjustment, I’ll grant you, but I never thought catch-and-release fishing would be fun until I did it, and it was. The way some people already buy and return items suggests to me that catch-and-release shopping is not impossible.
There are at least four ways to acquire Bitcoin and three ways to store it…
Acquire Bitcoin: You can trade Bitcoin in person, accept it as a vendor, mine it, or buy on an exchange.
Store Bitcoin: You can keep your Bitcoin in an online/cloud service (typically, one that is connected to your exchange account), keep it on your own PC or phone, or even print it out and store it on a piece of paper. Like a physical coin, the piece of paper has value. It can be placed in your lock box or under your mattress.
Let’s look at the market for Bitcoin Wallets (all of these are free), and then we shall talk about Bitcoin exchange services. This includes my personal recommendation for the typical consumer or coin enthusiast…
You can start your search for a wallet on this page at Bitcoin.org. Use the drop down tabs to refine your search by platform: Mobile, Desktop, Hardware gadget or Web. Don’t overlook the web option. For many users, the wallet (and VAULT) included with an online exchange account is all you need.
Each wallet platform is further distinguished by operating system. For example, you can find a smartphone wallet for Android, Apple, Windows Mobile or Blackberry. Some popular apps are listed under more than one OS or platform.
When you click on any of the app logos, you will see a checklist of five key traits, according to reviewers at the Bitcoin Foundation:
These are not necessarily critical traits/features. It depends on your needs and preferences. For example, everyone wants good privacy and security. But not everyone wants to control their private keys. That places the risk of loss, backup and/or the burden of inheritance issues on you, rather than a standardized recovery process. The feature comparison simply helps you to begin your own comparison and evaluation.
For Android users, my personal recommendation is Bitcoin Wallet by Andreas Schildbach (the logo is a tilted orange ‘B’). It is simple, secure, well maintained and very popular. (iPhone users: See my my suggestion in the recommendations, below).
Despite the simplicity and low cost of spending or sending Bitcoin between individuals and vendors, getting your first Bitcoin can be confusing, complex and even risky. For this reason, I suggest that Newbies open an account at a very established and trustworthy exchange.
In the near future, this will include most big banks. But for now, the safest and most reputable exchange is Coinbase in San Francisco. They are also the one with the highest level of regulatory compliance. Bitstamp of Slovenia and Great Britain is a close second. In my opinion, using either of these organizations as a currency exchange or a secure place to park your digital currency is a safe bet.
Both of these exchanges include a cloud wallet service that—when used properly—is safe and secure. But, because Bitcoin is still in its infancy, you will need to learn about sweeping funds into a ‘vault’ (to better protect against hacking) and you should also learn about portable backups and multi-sig (to protect your assets, in the event of forgetfulness, death or incapacitation).
With either type of wallet—device storage or online with an exchange—I recommend that you install and play with a portable wallet on your phone, just to get the hang of a few basic functions: Display wallet address for incoming money, Send money, Request money (i.e. send an invoice), and Pay with the QR-camera feature. All wallets serve these basic and critical needs.
Recommendations:
Related Reading:
Philip Raymond co-chairs CRYPSA, produces The Bitcoin Event and is a board member at
Lifeboat. He will deliver the Keynote Address at Digital Currency Summit in Johannesburg.