Lifeboat Foundation: Safeguarding Humanity
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Blog – Page 11216

In Brief:

  • New artificial blood vessels were able to grow with the recipient in recent animal testing
  • Researchers saw a 56% increase in diameter made of patients’ own cells.

We have sufficiently advanced medicine to the point that artificial body parts are no longer science fiction. In fact, we may even start 3D printing organs, or have them grown in a lab. However, their artificial nature often means they won’t grow with a patient. For example, children need to undergo repeated surgeries until adulthood to replace implants they have outgrown.

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By now, most Bitcoin and Blockchain enthusiasts are aware of four looming issues that threaten the conversion of Bitcoin from an instrument of academics, criminal activity, and closed circle communities into a broader instrument that is fungible, private, stable, ubiquitous and recognized as a currency—and not just an investment unit or a transaction instrument.

These are the elephants in the room:

  • Unleashing high-volume and speedy transactions
  • Governance and the concentration of mining influence among pools, geography or special interests
  • Privacy & Anonymity
  • Dwindling mining incentives (and the eventual end of mining). Bitcoin’s design eventually drops financial incentives for transaction validation. What then?

As an Op-Ed pundit, I value original content. But the article, below, on Bitcoin fungibility, and this one on the post-incentive era, are a well-deserved nod to inspired thinking by other writers on issues that loom over the cryptocurrency community.

This article at Coinidol comes from an unlikely source: Jacob Okonya is a graduate student in Uganda. He is highly articulate, has a keen sense of market economics and the evolution of technology adoption. He is also a quick study and a budding columnist.

What Happens When Bitcoin Mining Rewards Diminish To Zero?

Jacob addresses this last issue with clarity and focus. I urge Wild Ducks to read it. My response, below touches on both issues 3 and 4 in the impromptu list, above.

Sunset mining incentives—and also the absence of supporting fully anonymous transactions—are two serious deficiencies in Bitcoin today.
I am confident that both shortcomings will be successfully addressed and resolved.

Thoughts about Issues #3 and #4: [Disclosure] I sit on the board at CRYPSA and draft whitepapers and position statements.*

Blockchain Building: Dwindling Incentives

mining-incentive-02Financial incentives for miners can be replaced by non-financial awards, such as recognition, governance, gaming, stakeholder lotteries, and exchange reputation points. I am barely scratching the surface. Others will come up with more creative ideas.

Last year, at the 2015 MIT Bitcoin Expo, Keynote speaker Andreas Antonopoulos expressed confidence that Bitcoin will survive the sunset of miner incentives. He proposed some novel methods of ongoing validation incentives—most notably, a game theory replacement. Of course, another possibility is the use of very small transaction fees to continue financial incentives.

Personally, I doubt that direct financial incentives—in the form of microcash payments— will be needed. Ultimately, I envision an ecosystem in which everyone who uses Bitcoin to buy, sell, gift, trade, or invest will avoid fees while creating fluidity—by sharing the CPU burden. All users will validate at least one Blockchain transaction for every 5 transactions of their own.

Today, that burden is complex by design, because it reflects increasing competition to find a diminishing cache of unmined coins. But without that competition, the CPU overhead will be trivial. In fact, it seems likely that a validation mechanism could be built into every personal wallet and every mobile device app. The potential for massive crowd-sourced scrutiny has the added benefit of making the blockchain more robust: Trusted, speedy, and resistant to attack.

Transaction Privacy & Anonymity

Bitcoin’s lack of rock-solid, forensic-thwarting anonymity is a weak point that must ultimately be addressed. It’s not about helping criminals, it’s about liberty and freedoms. Detectives & forensic labs have classic methods of pursuing criminals. It is not our job to offer interlopers an identity, serial number and traceable event for every transaction.

Anonymity can come in one of three ways. Method #3 is least desirable:

  1. Add complex, multi-stage, multi-party mixing to every transaction—including random time delays, and parsing out fragments for real purchases and payments. To be successful, mixing must be ubiquitous. That is, it must be active with every wallet and every transaction by default. Ideally, it should even be applied to idle funds. This thwarts both forensic analysis mining-incentive-03and earnest but misguided attempts to create a registry of ‘tainted’ coins.
  2. Fork by consensus: Add anonymizing technology by copying a vetted, open source alt-coin
  3. Migrate to a new coin with robust, anonymizing tech at its core. To be effective, it must respect all BTC stakeholders with no other ownership, pre-mined or withheld distribution. Of course, it must be open, transparent and permissionless—with an opportunity and incentive for all users to be miners, or more specifically, to be bookkeepers.

That’s my opinion on the sunset of mining incentives and on transaction anonymity.
—What’s yours?

* Philip Raymond is co-chair of the Cryptocurrency Standards
Association. He was host and MC for the Bitcoin Event in New York.

I was pointed to this article by Jon Matonis, Founding Director, Bitcoin Foundation. I was sufficiently moved to highlight it here at Lifeboat Foundation, where I am a contributing writer.

On Fungibility, Bitcoin, Monero and ZCash … [backup]

This is among the best general introductions I have come across on traceability and the false illusion of privacy. The explanation of coin mixing provides and coin_mixing-03excellent, quick & brief overview.

Regarding transaction privacy, a few alt-coins provide enhanced immunity or deniability from forensic analysis. But if your bet is on Bitcoin (as it must be), the future is headed toward super-mixing and wallet trading by desgin and by default. Just as the big email providers haved added secure transit,
Bitcoin will eventually be fully randomized and anonymized per trade and even when assets are idle. It’s not about criminals; it’s about protecting business, government and individuals. It’s about liberty and our freedoms. [Continue below image]

coin_mixing-04
How to thwart forensic investigation: Fogify explains an advanced mixing process

The next section of the article explains the danger of losing fungibility due to transaction tracing and blacklisting. I can see only ONE case for this, and it requires a consensus and a hard fork (preferably a consensus of ALL stakeholders and not just miners). For example, when a great number of Etherium was stolen during the DAO meltdown.

My partner, Manny Perez, and I take opposing views of blacklisting coins based on their ‘tainted’ history (according to “The Man”, of course!). I believe that blacklists must ultimately be rendered moot by ubiquitous mixing, random transaction-circuit delays, dilbert-060219and multiple-transaction ‘washing’ (intentionally invoking a term that legislators and forensic investigators hate)—Manny feels that there should be a “Law and Order” list of tainted coins. Last year, our Pro-&-Con views were published side-by-side in this whitepaper.

Finally, for Dogbert’s take on fungible, click here. I bought the domain fungible.net many years ago, and I still haven’t figured out what to do with it. Hence this Dilbert cartoon. smile
____________
Philip Raymond is co-chair of The Cryptocurrency Standards Association.
He also presents on privacy, anonymity, blind signaling & antiforensics.

https://www.singularityweblog.com/mic…

Dr. Michael Fossel is one of those few theoreticians who can see much of the big picture of aging. While some use mostly guesswork, and others hope to improve on that with logic, Fossel never shies away from the clear verdict that only data can give. Add his overwhelming compassion as a human being and you will understand why he is a clinician who really cares. You will also get a pretty good idea of what kind of a person Michael is – both personally and professionally. And those are just some of the reasons why enjoy having him back on my Singularity 1on1 podcast for an in-depth discussion of his latest book on the topic titled the Telomerase Revolution.

During our 83 min discussion with Dr. Fossel we cover a variety of interesting topics such as: what the Telomerase Revolution is all about; the difference between realist and optimist medicine; why books don’t cure diseases and why Fossel is more interested in curing rather than understanding aging; the telomere theory of aging; whether we can create a vaccine for old age; the difference between direct and indirect aging; why guesswork is useless, logic is better but data trumps everything; whether we can slow down and/or reverse aging; Liz Parrish’s telomere lengthening experiment; reaching Longevity Escape Velocity and why Aubrey de Grey may turn out to be conservative in his estimate; Fossel’s biotech startup company Telocyte…

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I argued in my 2015 paper “Why it matters that you realize you’re in a Computer Simulation” that if our universe is indeed a computer simulation, then that particular discovery should be commonplace among the intelligent lifeforms throughout the universe. The simple calculus of it all being (a) if intelligence is in part equivalent to detecting the environment (b) the environment is a computer simulation © eventually nearly all intelligent lifeforms should discover that their environment is a computer simulation. I called this the Savvy Inevitability. In simple terms, if we’re really in a Matrix, we’re supposed to eventually figure that out.

Silicon Valley, tech culture, and most nerds the world over are familiar with the real world version of the question are we living in a Matrix? The paper that’s likely most frequently cited is Nick Bostrom’s Are you living in a Computer Simulation? Whether or not everyone agrees about certain simulation ideas, everyone does seem to have an opinion about them.

Recently, the Internet heated up over Elon Musk’s comments at a Vox event on hot tub musings of the simulation hypothesis. Even Bank of America published an analysis of the simulation hypothesis, and, according to Tad Friend in an October 10, 2016 article published in New Yorker, “two tech billionaires have gone so far as to secretly engage scientists to work on breaking us out of the simulation.”

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