Economics – Lifeboat News: The Blog

Feb 27
2015

How to Keep a Piece of the Pie After the Robots Take Our Jobs

Written by Victoria Turk — Motherboard

In 2013, researchers Carl Frey and Michael Osborne of the Oxford Martin School dropped the bombshell that 47 percent of US jobs were at risk of computerisation. Since then, they’ve made similar predictions for the UK, where they say 35 percent of jobs are at high risk.

So what will our future economy look like?

“My predictions have enormously high variance,” Osborne told me when I asked if he was optimistic. “I can imagine completely plausible, incredibly positive scenarios, but they’re only about as probable as actually quite dystopian futures that I can imagine.”
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Feb 9
2015

Bitcoin’s Unique Features Lighten Up its Ambiguous Future

The recently concluded Bitcoin & the Blockchain Summit in San Francisco on January 27 came up as a vivid source of both anxiety and inspiration. As speakers tackled Bitcoin’s technological limits and possible drawbacks that can be caused by impending regulations, Bitcoin advocate Andreas Antonopoulos lifted up everyone’s hope by discussing how bitcoins will eventually survive and flourish. He managed to do so with no graphics or presentations to prove his claim, just his utmost confidence and conviction that it really will no matter what.

On the currency being weak

There have been statements about Bitcoin’s technology surviving, but not the currency itself. Antonopoulos, however, argues that Bitcoin’s technology, network, and currency are interdependent with each other, which means that one element won’t work without the other. He said: “A consensus network that bases its value on the currency does not work without the currency.”

On why Bitcoin works

Antonopoulos underscores the fact that Bitcoin works because it is a dumb, transaction-processing network. Calling Bitcoin dumb is far from disparaging Bitcoin’s image as he actually thinks of this dumbness as Bitcoin’s true source of strength. According to him, it is a dumb network that supports smart devices, pushing all of the intelligence to the edge. It’s an innovation without permission.

On being 2014’s worst investment

Antonopoulos also argues that those who believe bitcoins to be a bad investment only considers the price when there are other equally important factors to be looked upon such as continuous investments and technological innovations.

For instance, 500 startups were created in 2014, which generated $500 million worth of investments and produced thousands of jobs, some portion from Bitcoin gambling. This was also the year that two remarkably genuine technologies were created, the multi-sig and hierarchal deterministic (HD) wallets.

On waiting for Bitcoin to flourish in 2017

Antonopoulos then stated with unwavering certainty: “Give us two years. Now what happens when you throw 500 companies and 10,000 developers at the problem? Give (it) two years and you will see some pretty amazing things in bitcoin.”

On mining updates

Meanwhile, mining for bitcoins prove to be more challenging than before. A Bitcoin mining facility in China, for instance, generates 4,050 bitcoins every month, which is equivalent to around $1.5 million, but not without repercussions and complexities. The entrepreneurs in the mining facility realize that as the level of difficulty and computing power increase, the ratio also gradually changes.

Typically, the entire mining procedure utilizes about 1,250 kilowatt-hours of electricity, putting the factory’s electricity bill to about $80,000 every month. Nowadays, their miners produce 20–25 bitcoins a day, significantly lesser compared with their previously 100 mined bitcoins per day.

On leaving a thought

The confidence for Bitcoin’s bright future has been regained, thanks to Antonopoulos’ contagious exhilaration and resolute belief in its potential. However, we can only wonder what the increasing difficulties in mining for bitcoins entail to the cryptocurrency’s overall performance and future, though Bitcoin’s unique features have been proven to be strong and resilient enough to surpass any challenges.

Jan 30
2015

Robber barons and silicon sultans

The Economist

IN THE 50 years between the end of the American civil war in 1865 and the outbreak of the first world war in 1914, a group of entrepreneurs spearheaded America’s transformation from an agricultural into an industrial society, built gigantic business empires and amassed huge fortunes. In 1848 John J. Astor, a merchant trader, was America’s richest man with $20m (now $545m). By the time the United States entered the first world war, John D. Rockefeller had become its first billionaire.

In the 50 years since Data General introduced the first mini-computers in the late 1960s, a group of entrepreneurs have spearheaded the transformation of an industrial age into an information society, built gigantic business empires and acquired huge fortunes. When he died in 1992, Sam Walton, the founder of Walmart, was probably America’s richest man with $8 billion. Today Bill Gates occupies that position with $82.3 billion.

Jan 26
2015

Coinbase releases first licensed US Bitcoin exchange; Winklevoss twins gear up to do the same

Armstrong and the Winklevoss twins have promising visions in securing Bitcoin exchange.

Bitcoin exchange Coinbase has brought innovation to the next level by opening the first ever licensed US Bitcoin exchange. Backed by $106 million from the New York Stock Exchange, banks, and venture-capital firms, Coinbase’s newly launched US exchange, said to be named Lunar, will provide greater security features; so as not to repeat the mistakes of Mt. Gox and Bitstamp, the former of which declared bankruptcy last year while the latter has sustained hacking attacks and is now back in the game.

Coinbase has already acquired licenses from 50% of the states in the country, which includes New York. The remaining 50% is still in the works and is necessary to complete to be able to provide full nationwide services. Also, Coinbase does not only look at expanding nationwide, it also looks at expanding worldwide in offering their Bitcoin-related services.

Of this plan, Coinbase CEO Brian Armstrong said: “Our goal is to become the world’s largest exchange”.

For this vision to be realized, Coinbase must make sure that no security attacks will ever threaten the safety of every user’s bitcoins, which is something that the company seeks and proves to show.

On the other hand, Coinbase is not the only one that has the same vision. Entrepreneurs Tyler and Cameron Winklevoss, widely known for their work on Facebook, are also eyeing on the same project.

The twins have already taken the necessary steps such as hiring engineers, enlisting a bank, and engaging with regulators to begin the process of opening their own Bitcoin exchange in the next months to come. The exchange will be named Gemini, Latin for twins.

Despite the volatile prices and security attacks on other exchanges, the Winklevoss twins haven’t lost their confidence in bitcoins and the technology that powers it, which is why they consider a reliable and regulated exchange extremely necessary to bring bitcoins up on its feet again.

Jan 22
2015

How Technology Behind Bitcoin Could Transform Accounting As We Know It

Quoted: “We’re not there yet, but in less than 10 years, I believe that the technology behind bitcoin will transform the accounting profession entirely. What is this technology? The blockchain. Let me set the scene by going over a few bitcoin related concepts before explaining why I think that the accounting profession will undergo a major disruption in the coming years.”

Read the article here > http://www.techvibes.com/blog/how-technology-behind-bitcoin-…;01-22

Jan 19
2015

Bitcoins and Google Glass: Are They Heading For the Same Direction?

From Innovation to Oblivion…

The ups and downs of Bitcoin as an internet currency may be compared to the eventual demise of Google Glass due to its lack of purpose among consumers. While it does not significantly hold true for bitcoins, which apparently have a more supportive and enthusiastic followers, the path that these two have taken and will take may be substantially similar than we like to admit.

For one, Bitcoin’s staggering price decline in the recent days left some people wondering what road it will eventually take in the near future. Is it only taking a detour or is it bound for a dead end?

In the case of Google Glass, it received much attention during its inception a few years ago. It was even named by Time magazine one of the best innovations of 2012. However, despite the ingenuity behind a supposed-to-be groundbreaking invention, Google Glass lacked a tangible sense, its purpose incoherent.

Thus, after much speculation, Google recently announced that it would stop selling Glass and that the product would no longer be developed in their research division.

Will Bitcoin End Up Like Google Glass?

Google Glass and Bitcoin are connected by the revolutionary technology that made them a star in the first place. There was some genius work in each of the piece, there’s no doubt about that, but without a clear purpose of how to integrate each product into the mainstream society, it becomes pointless.

Fortunately, bitcoins may stand a chance. Though there’s a portion of the populace that thinks of bitcoins as the internet currency that’s only best suited for illegal activities, its original function, which is for faster and cheaper way of transacting online, still proves to be prevalent.

It’s true that bitcoins were way more fun before that they are now, but it cannot be denied that this cryptocurrency has opened doors for a myriad of possibilities and eliminated security vulnerabilities, in which financial institutions such as banks and credit card companies are relatively known for.

Unlike Google Glass, Bitcoin has a tangible sense, a coherent purpose, and a crystal-clear vision. That is to move around the internet with your money free from the control of the government or any institution. Since there’s nothing that precedes this work of art and technology, it has a chance of staying. Thus, Bitcoin’s game is far from over.

Jan 17
2015

IBM Reveals Proof of Concept for Blockchain-Powered Internet of Things

Quoted: “IBM has unveiled its proof of concept for ADEPT, a system developed in partnership with Samsung that uses elements of bitcoin’s underlying design to build a distributed network of devices – a decentralized Internet of Things. The ADEPT concept, or Autonomous Decentralized Peer-to-Peer Telemetry, taps blockchains to provide the backbone of the system, utilizing a mix of proof-of-work and proof-of-stake to secure transactions.”

Read the article here > http://www.coindesk.com/ibm-reveals-proof-concept-blockchain…et-things/

Jan 9
2015

Internet of Coins Releases Whitepaper For Infrastructure To Connect Entire Bitcoin And Cryptocurrency Ecosystem

Quote: ” Internet of Coins strives to create a decentralized, self-sustaining economy by implementing intersystemic connectivity sustained by a hybrid P2P meta-network. The system will help to leverage each of its participant’s strength in numbers hence supporting both the stability of alt coins and the cryptocurrency community as a whole. Internet of Coins had an official Whitepaper launch party on the 3rd of January at the Bitcoin Embassy Amsterdam. The Whitepaper is available for download on http://internetofcoins.org. Internet of Coins has partnered-up with security oriented cryptoexchange and service provider Bitalo since November of last year for continuous development and funding of the project. The open source system will soon be released for non-commercial purposes and be easily accessible to the public; supporting continuous decentralization and empowering the cryptocurrency ecosystem to evolve.”

Read the article here > http://www.baystreet.ca/viewarticle.aspx?id=424703

Jan 7
2015

GM Overcoming Toyota & Ford Surmounting Honda, Unfailingly, For Life! By Mr. Andres Agostini

GM Overcoming Toyota & Ford Surmounting Honda, Unfailingly, For Life!

FIRST

The reason why Japanese automotive industry beat the U.S. car-makers is because, to them, it is an outright existential world to win and in the process spread a sense of Japanese exceptionalism.

They are fighting a most-lucrative World War merciless!

SECOND

The reason why car-makers in the U.S. can overcome the Japanese and German competition is a bit complicated.

THIRD

Except, perhaps for Apple, all Quality Assurance Methodologies in the U.S. manufactures designated to provide high-end products fail, and fail, and fail again.

FOURTH

However, when you see the Quality Assurance methodologies in the Military, you will notice the following:

(PER AS-OF-NOW RANKINGS)

America’s has the most-breathtaking quality in the Military, worldwide.

European quality is the second best in the Military, worldwide.

Israeli quality is the third best in the Military, worldwide.

Russian quality is the fourth best in the Military, worldwide.

Chinese quality is the fifth best in the Military, worldwide.

FIFTH

FOR AMERICAN AUTOMOTIVE INDUSTRY TO BEST THE JAPANESE AND GERMAN, THROUGHPUTTING HIGH-END HAS TO BE CONSIDERED AS AN EXISTENTIAL REALPOLITIK GLOBAL WORLD, THAT SHOULD UPGRADED EVERY STANDARD AND PRACTICES, BY MOST CAREFULLY OBSERVING AND INSTITUTING THE STANDARDS AND PRACTICES OF THE U.S. MILITARY INDUSTRIAL COMPLEX’S FIRST THREE (3) PRIVATE CONTRACTORS.

SIXTH

The day that American Automotive Industry starts to manufacture cars like most-complex state-of the-art weapons, the foreign car-makers will go bankrupt and the profits and jobs will be back to America.

SEVENTH

America makes the best PRODUCTS IN THE WORLD when it fears a massive stream of Sputniks. Otherwise, U.S. citizens go back to their zone of comfort and assume that the World is most characterized by RUTHLESS IMPERMANENCE.

THEREBY:

AND NOTA BENE, IT MUST BE, INCESSANTLY AND FOREVER, ACKNOWLEDGED:

Exactly like Andres Agostini, Egotistical Prima Donna (SkunkWorks practitioner) is no longer a captive to history.

Exactly like Andres Agostini, Whatever he, she can imagine, he, she can accomplish.

Exactly like Andres Agostini, Egotistical Prima Donna (SkunkWorks practitioner) is no longer a vassal in a faceless bureaucracy, he, she is an activist, not a drone.

Exactly like Andres Agostini, Egotistical Prima Donna (SkunkWorks practitioner) is no longer a foot soldier in the march of progress.

Exactly like Andres Agostini, Egotistical Prima Donna (SkunkWorks practitioner) is a Revolutionary! … ”

ABSOLUTE END.

Authored By Copyright Mr. Andres Agostini

White Swan Book Author (Source of this Article)

http://www.LINKEDIN.com/in/andresagostini

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http://LIFEBOAT.com/ex/bios.andres.agostini

http://ThisSUCCESS.wordpress.com

https://www.FACEBOOK.com/agostiniandres

http://www.appearoo.com/aagostini

http://connect.FORWARDMETRICS.com/profile/1649/Andres-Agostini.html

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http://FUTURE-OBSERVATORY.blogspot.com

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@AndresAgostini

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Jan 7
2015

CROSS-FUNCTIONAL AWAKEN, YET CONDITIONALIZED CONSCIOUSNESS AS PER NON-GIRLIE U.S. HARD ROCKET SCIENTISTS! By Mr. Andres Agostini

CROSS-FUNCTIONAL AWAKEN, YET CONDITIONALIZED CONSCIOUSNESS AS PER NON-GIRLIE U.S. HARD ROCKET SCIENTISTS!

(Excerpted from the White Swan Book)

Sequential and Progressive Tidbits as Follows:

SEQUENTIAL AND PROGRESSIVE TIDBIT # 1 OF # 5

” .… Consciousness is the process of creating a model of the world using multiple feedback loops in various parameters (e.g., in temperature, space, time, and in relation to others), in order to accomplish a goal (e.g., find mates, food, shelter)…”

SEQUENTIAL AND PROGRESSIVE TIDBIT # 2 OF # 5

” … Human consciousness is a specific form of consciousness that creates a model of the world (Weltanchaung ) and then simulates it in time [there is to say: RAND Corporation’s Dr. Strangeloves’s Scenario-Planning Methodology], by evaluating the past time to simulate the future [never by retrospection but acute prospections]. This requires mediating and evaluating many feedback loops [at times, also including close-loop feedbacks], with the [strategic] end to make a [sound and sustainably profitable] decision to [concomitantly] achieve a [driven by numerical data] goal and an [driven by narrative data] objective …”

SEQUENTIAL AND PROGRESSIVE TIDBIT # 3 OF # 5

” … The greatest achievement of the human brain is its ability to imagine [via outright scientific futuring] objects and episodes that do not exist in the realm of the real [, which is also to say in the PERCEIVED Corporate Theater of Operations], and it is this ability [and capability] that allows [and empowers] us to think about the future. As one philosopher noted, the human brain is an ’ …anticipation machine …’ [that is to say, a biological foresighting and farsighting apparatus] and ’ …making the future …’ [creating the desired output] is the most important thing it does …”

SEQUENTIAL AND PROGRESSIVE TIDBIT # 4 OF # 5

Dr. Gamel Hamel, a great U.S. citizen, is, as per my understanding, America’s top I.Q. #25. He was the CEO to Strategos and currently a prominent scholar and he is fully-tenured Professor Gary Hamel, PhD. at pervasive London Business School. Hamel, incessantly, pays a great deal of attention to REALITY and the quote below, excerpted in the White Swan book, is used by him frequently.

VERBATIM:

“… [He] tells a wonderful little story about how he came to recognize this deep truth: On the third day of a conference at a Buddhist center, I asked people why they put their palms together several times a day. THE BUDDHISTS BELIEVE THAT THE WORLD IS AN ILLUSION, BUT WE HAVE TO GO ALONG WITH THE ILLUSION FOR EFFICIENCY REASONS. When they put their hands together it is a semicolon, an acknowledgment that whatever they may think is going on right now is largely a fabrication of their own mind…”

TO UNDERPIN ALL OF THE ABOVE, BUT ESPECIALLY SEQUENTIAL AND PROGRESSIVE TIDBIT # 4, THIS MUST AS WELL BE OBSERVED:

AS THE GREAT VICTORIAN BIOLOGIST THOMAS HUXLEY (4 MAY 1825 – 29 JUNE 1895) ONCE SAID,

” …The question of all questions for humanity, the problem which lies behind all others and is more interesting than any of them, IS THAT OF THE DETERMINATION OF MAN’S PLACE IN NATURE AND HIS RELATION TO THE COSMOS [THE ULTIMATE ATEMPORAL AND ASPATIAL ZENITH OF AWAKEN CONSCIOUSNESS AND HENCE INTELLIGENCE AND WISDOM] …” (ASIN: B00KMY0DLK).

SEQUENTIAL AND PROGRESSIVE TIDBIT # 5 OF # 5

BY THE WAY, COUNTER-INTUITIVENESS AND SIXTH SENSE AND ETHICS AND INTEGRITY HAVE NO GENDER.

To shed some light, I will also share two quotes as well.

NEVERTHELESS, THE PANCHATANTRA (BODY OF EASTERN PHILOSOPHICAL KNOWLEDGE) ESTABLISHES,

“… Knowledge is the true organ of sight, not the eyes [neither combined with and through the pineal gland] … ”

AND ANTONIO MACHADO ARGUES,

“… An eye is not an eye because you see it; an eye is an eye because it sees you …”

Managers always need a clear-eyed and lucid pineal gland’s knowledgeable and knowledge-injected vision.

DID YOU ALREADY CONNECT THE DOTS STEMMING FROM THE PANCHATANTRA AND MACHADO?

Did you already integrate those dots into your marshable gestalt’s big-picture vista?

As side effect, British Prime Minister W. E. Gladstone considered,

“…You cannot fight against the future…”