One year on from its launch, the world remains fascinated by Finland’s groundbreaking universal basic income trial: Europe’s first national, government-backed experiment in giving citizens free cash.
Europe’s first national experiment in giving citizens free cash has attracted huge media attention. But one year in, what does this project really hope to prove?
By now, every interested news-junkie is aware that Bitcoin plummeted from $15,000 to $13,000 (USD exchange rate) on January 11, 2018. This morning, every news outlet and armchair analyst attributes the drop to the Korean government signaling that it will ban Bitcoin trading among its citizens.
With Donald Trump and Kim Jong Un butting heads over nuclear missile tests and the upcoming Winter Olympics, you would think that South Korea has other priorities than banning Bitcoin.
As with all news—except accidents—the Korean plans were known by a few insiders (in this case, government bureaucrats), and so the influence on value was bigger than the drop that occurred after the news story. In the days before this “event”, it was probably responsible for a drop of about $4500 in exchange value.
Listen up Wild Ducks! We have heard this before. On Sept 11, China announced the exact same thing. I wrote about it in the most popular article of my 7 years as Blogger: Bad News is Good News for Bitcoin Investors.
As an investor, am I worried? Not on your sweet bippy. I am ecstatic! There are some things that governments cannot ban: the mating of feral cats; water from seeping into cellars; communications networks that are distributed and permissionless. Ineffective and unenforceable regulation always spells opportunity. 
When I hear of such “bans” (or learn about Jamie Dimon claiming that Bitcoin is a ‘pyramid scheme’ before having all the facts), I become confused and excited…
Investors often fail to recognize the way in which toothless government edicts work. I am confused that anyone would act on such flawed information. I am excited that they do. Why?—Because each time Bitcoin makes a quick dive due to crazy or irrelevant news, it makes an even bigger upward jump within days. In this case, the reverse correction has already begun.
I created the chart, below, for my presentation at the Cryptocurrency Expo in Dubai during the last days of October. During this 3 day conference, Bitcoin jumped from $6000 to 6500 because these days followed a hard fork that scared analysts. Within 5 weeks of the conference, Bitcoin touched $20,000, depending on the exchange from which you get quotes. But here’s an odd thing (not so odd, to me): With sudden market accessibility in the past 30 days, why is Bitcoin falling? [continued below]…
In the past month (Dec 10 2017~Jan 10 2018), Bitcoin and Bitcoin futures are finally becoming accessible to traditional brokers using familiar investment instruments. As a result of market accessibility, everyone and his brother is getting into Bitcoin. Since it is still difficult to take a negative position, you might expect this fresh interest to drive up value. This expectation is reinforced by my own anecdotal observation: Based on the large number of old acquaintances asking me to help them buy Bitcoin, it certainly feels like the sentiment is bullish. But no! Existing stakeholders are dumping their positions!
It’s not just because of yesterday’s news. Rather, it’s because anyone who has seen Bitcoin triple in just 3 months, feels that their personal stake experienced a “lucky” gain. They want to turn that paper gain into a profit before it tanks.
But then, there are the cognoscenti. That’s us…We are the individuals who have a feel for the natural, intrinsic value of Bitcoin. We understand that value does not require a redemption guarantee from Caesar. We have a reasonable vision of currency, inflation, economics, history, the role of government—and especially, of distributed trust. Just as important, we understand why an altcoin is unlikely to replace Bitcoin—even if it solves some of Bitcoin’s frustrating technical and governance issues.
Governments tend to react to perceived threats before understanding opportunities, motives and that which is fait accompli. There is a role for government in all of this, but it is not to ban what cannot be banned. That is simply good news for us stakeholders.
Related Reading:
Philip Raymond co-chairs CRYPSA, publishes A Wild Duck and hosts the New York Bitcoin Event. He is keynote speaker at the Cryptocurrency Expo in India this month. Click Here to inquire about a presentation or consulting engagement.
U.S.-trained Chinese-born talent is becoming a key force in driving Chinese companies’ global expansion and the country’s efforts to dominate next-generation technologies like artificial intelligence and machine learning. Where college graduates once coveted a prestigious overseas job and foreign citizenship, many today gravitate toward career opportunities at home, where venture capital is now plentiful and the government dangles financial incentives for cutting-edge research.
“More and more talent is moving over because China is really getting momentum in the innovation area,” said Ken Qi, a headhunter for Spencer Stuart and leader of its technology practice. “This is only the beginning.”
Dr. Oliver Medvedik Vice President of LEAF appears in this new TED interview where he talks about aging research and the possibilities of future medicine.
Aging happens to all of us, but scientists still don’t know the mechanism behind it. We need to focus on finding an answer, says molecular biologist Oliver Medvedik.
If given the option, would you choose to live forever? Many of us would say “yes,” but with one major caveat: just as long we don’t age. In scientific terms, aging means “a progressive loss of fitness in an organism over time,” says molecular biologist and TED Fellow Oliver Medvedik. What causes this loss of fitness in humans is multifaceted, although scientists are exploring different theories including — and these are just a few of the many avenues of research — the deterioration of the health of our telomeres (the ends of our chromosomes), changes in cell mitochondria, inefficient clearance of damaged cell proteins, and the senescence of stem cells, leading to chronic inflammation and a depletion of stem cells.
Although it causes a loss of fitness and health, aging is not seen as a disease. “The FDA defines a disease as something that afflicts only a segment of the population. But aging affects everyone,” says Medvedik, the co-founder of Genspace, a citizen science biotech lab, and a professor of bioengineering at the Cooper Union in New York City. And because aging is not considered a disease by the government, it limits the amount of federal funding available in order to study it.
Next, the technology maturation process, unfolds in a linear fashion with the ultimate objective of transitioning to the NASA program that established the requirement. This process sacrifices science and the ability to iterate fast; does not incentivize providers to develop affordable and systematic capabilities, and the consideration of economic intelligence and market pull is anything but strategic (engagement model with industry is secondary, i.e “work for hire” contracts, and commercialization is serendipitous). As the sole customer, NASA/the government needs to maintain the unique infrastructure needed for these missions and maintains large per mission costs.
While science missions are largely competitive and outcome focused, human missions start by establishing a destination — the political choice of Moon or Mars — often becoming a solution in search of a problem. Since the Apollo era, the overall result of this “swing” approach has basically resulted in “grounding” the human space program, negatively affecting the morale of the working force, and making many feel that it is little more than a job welfare program.
From an HR perspective, NASA, like any other government organization, is a great example of Peter’s principle, structured and incentivized by the slogan “the hierarchy needs to be preserved by all costs”, frequently leading to the alienation or outright removal of highly competent people focused on problem solving and with a desire of seeing accelerated progress.
Posted in government, internet
But such talk has little currency in Sweden or its Scandinavian neighbors, where unions are powerful, government support is abundant, and trust between employers and employees runs deep. Here, robots are just another way to make companies more efficient. As employers prosper, workers have consistently gained a proportionate slice of the spoils — a stark contrast to the United States and Britain, where wages have stagnated even while corporate profits have soared.
In a world full of anxiety about the potential job-destroying rise of automation, Sweden is well placed to embrace technology while limiting human costs.
Despite being battered by Hurricane Maria, and facing a decrease in funding from the U.S. government, the Arecibo radio telescope in Puerto Rico is still going strong, and is now up and running again, following a series of repairs. And with the near-Earth asteroid 3200 Phaethon having just flown by our planet, Arecibo has just sent back images that are supposed to represent the highest-resolution photos of the asteroid, which help reveal some important details about the object.
According to a press release from NASA, the radar images were taken by the Arecibo Observatory Planet Radar last Saturday, December 16, and generated the day after, as asteroid Phaethon 3200 had its close encounter with Earth. At the time of its closest approach, the object was only 1.1 million miles away from Earth, or less than five times the distance separating our planet from the moon. The images have resolutions estimated at about 250 feet per pixel, making them the best-quality photos of the asteroid that are currently available, Phys.org added.
Based on Arecibo’s radar images, scientists believe that 3200 Phaethon is substantially larger than once estimated, with a diameter of approximately 3.6 miles, or 0.6 miles larger than what previous studies had suggested. That also makes Phaethon the second largest near-Earth object classified as a “potentially hazardous asteroid,” or a comparatively large asteroid that orbits much closer to Earth than most others do. The images also suggest Phaethon has a spheroidal shape, with a number of peculiar physical features that scientists are still trying to understand in full. These features include a concave area believed to be several hundred meters wide, and a dark, crater-like area located near one of its poles.
The US federal government has lifted an enforced moratorium on funding research into how to make viruses deadlier and more transmissible.
The moratorium, which was imposed three years ago, froze funding for what’s called “gain of function” research: controversial experiments seeking to alter pathogens and make them even more dangerous. Now, the money is back on the table, giving those trials the green light once more.
The director of the National Institutes of Health (NIH), Francis S. Collins, announced the lifting of the moratorium on Tuesday, saying gain of function (GOF) research with viruses like influenza, MERS, and SARS could help us “identify, understand, and develop strategies and effective countermeasures against rapidly evolving pathogens that pose a threat to public health”.
