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Archive for the ‘economics’ category: Page 2

Jul 14, 2019

SpaceX Starship Will Carry 1000 People Anywhere On Earth For $500‑2000

Posted by in categories: economics, space travel

For the same price as an international economy airline ticket, the SpaceX Starship will fly in 20 minutes what takes a normal airliner 20 hours!

Jul 13, 2019

Profit from Bitcoin with out Investing or Trading

Posted by in categories: bitcoin, cryptocurrencies, economics

I find it encouraging that so many people want to know if they should get into Bitcoin. But, I am discouraged when I discover that “getting into” is a euphemism for investing, trading, flipping or HODL (Buy, then hold on for dear life).

Sure, Bitcoin is deflationary. If widely adopted, it is likely to increase in value. But adoption is being thwarted by traders. Today 95% of cryptocurrency transactions are by individuals or organizations buying or swapping cryptocurrency rather than using crypto to buy apples, a new car, or a family vacation.

Many people consider Bitcoin to be risky and not just as an investment! They think its risky to use a payment instrument. The perception of risk is associated with its widely fluctuating exchange rate. In the end, the exchange value won’t matter at all, because Bitcoin will be the money and not the dollar, yen, euro or pound. But, unfortunately, even though the argument for widespread adoption is compelling, it will not occur while we continue to see spikes and plunges on a graph.

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Jul 12, 2019

Cars, Gold, Houses, Toys & Stock: What gives value?

Posted by in categories: bitcoin, cryptocurrencies, economics


The title of this post is intentionally misleading. We frequently discuss the traits that lead to value here in the Lifeboat Blog. But today, I was asked a more nuanced question: “What things will hold their value?

And there is a ulterior motive in being a columnist for Lifeboat. Analyzing the dynamics of durable value leads to some surprising conclusions about the money supply and what a society chooses to use as money. We’ll get to this at end of this post.


We know that value comes from supply and demand. There are no exceptions. But, we have not addressed the properties that make an asset hold value over the long haul. Let’s consider some examples…

Cars

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Jul 11, 2019

A 550 km-long mass of sargassum seaweed is heading for the pristine beaches of Mexico’s Yucatan Peninsula

Posted by in category: economics

But now much of the coast is covered in heaps of rotting seaweed, contributing to an economic and ecological crisis.

The issue has been caused by an enormous bloom of sargassum algae, which washed ashore from the nearby Sargasso Sea. There has long been sargassum in that part of the ocean. But the rate of its growth has increased rapidly in recent years – so much so that in 2018 its summer bloom almost spanned the Atlantic from West Africa to the Caribbean.

And things are set to get even worse.

Jul 10, 2019

Lack of standards leads to new Bitcoin wallet advice

Posted by in categories: bitcoin, cryptocurrencies, economics

This update is an adaptation of my recent answer to a Quora reader who was in a panic. She asked:

What can I do after a hard drive crash?
How can I recover my cryptocurrency?

In the past, I would address the immediate problem of course. (My answer is below). But to prepare for the next unfortunate event, I recommended a wallet type based on a user’s unique experience, expertise and comfort zone. I guided the reader to weigh trade-offs of important criteria: Security, portability, convenience, and quick access to assets).

I had believed that some types of wallets were better for some individuals, but that they required a background in cryptography—or at least a discipline for meticulous practices. As CEO of the Cryptocurrency Standards Association, I had also believed that simple, unified, and popular standards would emerge very soon. I figured that this would enable users to practice safe-wallet maintenance in their own homes.

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Jul 9, 2019

How can Bitcoin be divided into small units?

Posted by in categories: bitcoin, cryptocurrencies, economics

As with other recent articles, this one was originally published as an answer to a member of Quora, a Q&A site in which I am a cryptocurrency columnist. And just like the previous one in this Lifeboat series (also posted today), this is a Q&A exchange with a newbie—a bitcoin beginner.

The question is simply: “How can Bitcoin be divided into units smaller than one?” While the answer may seem obvious to someone versed in math, statistics or economics, I see this question a lot—or something very similar.

I can explain by asking a nearly identical question; one that the enquirer can probably answer easily. The goal is to provide the tools to answer the question—and in a manner that helps the reader recall and make use of the answer in the future. This is how I approached an answer…


Puzzle me this: Can you divide 100 into smaller pieces? Of course you can! You just divvy it up. After all, it’s just a number.

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Jul 8, 2019

Why is it impossible to create more Bitcoin?

Posted by in categories: bitcoin, cryptocurrencies, economics

This article was originally an answer to a member of Quora, a Q&A site in which I am a cryptocurrency columnist. The reader is a “Bitcoin beginner”. If you understand the nature and purpose of a blockchain, the political leanings of Satoshi or the economics of a capped cryptocurrency, then this reviews things that you already know. But sometimes, a recap can be fun. It helps ensure that we are all on the same page…

In a previous post, we have already addressed a fundamental question:

It has nothing to do with how many individuals can own bitcoin or its useful applications. It simply means that—if widely adopted as a payment instrument or as cash itself—the number of total units is capped at 21 million. But each unit can subdivided into very tiny pieces, and we can even give the tiny pieces a new name (like femto-btc or Satoshis). It is only the originally named unit (the BTC) that is capped.

But, this article addresses a more primitive question. (Actually, it is a naïve question, but this adjective has a negative connotation, which is not intended). I interpret the question to be: What prevents me from creating, earning or being awarded an amount that brings the total circulation above 21 million BTC?

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Jul 8, 2019

Update: Building (and placing!) a Bitcoin ATM

Posted by in categories: bitcoin, cryptocurrencies, economics

A new section: Bitcoin ATM business model
has been added. Jump to “2019 Update

The good news is that building a Bitcoin ATM is easy and less expensive than you might expect. But, offering or operating them engulfs the assembler in a regulatory minefield! It might just be worth sticking to selling bitcoin on PayPal (visit this website for more information on that). You might also wish to rethink your business model —especially user-demand. That’s the topic of our 2019 update at the bottom of this article.

A photo of various Bitcoin ATMs appears at the bottom of this article. My employer, Cryptocurrency Standards Association, shared start-up space at a New York incubator with the maker of a small, wall mounted ATM, like the models shown at top left.

What is Inside a Cryptocurrency ATM?

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Jul 8, 2019

China’s tech sector faces ‘hangover after the party’, with trade war and economic slowdown hitting employment

Posted by in categories: economics, employment

Once a booming industry that offered dream jobs to China’s young talents, China’s tech sector is now waking up to the sobering reality. Experts say it is time to focus on profitability, rather than the wild expansion of previous years, as China’s economic growth slows and the trade war with the United States hits sentiment and investment.

Jul 7, 2019

Deep Aging Clocks: The Emergence of AI-Based Biomarkers of Aging and Longevity

Posted by in categories: biotech/medical, economics, life extension, robotics/AI

First published in 2016, predictors of chronological and biological age developed using deep learning (DL) are rapidly gaining popularity in the aging research community.

These deep aging clocks can be used in a broad range of applications in the pharmaceutical industry, spanning target identification, drug discovery, data economics, and synthetic patient data generation. We provide here a brief overview of recent advances in this important subset, or perhaps superset, of aging clocks that have been developed using artificial intelligence (AI).

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