Lifeboat Foundation

This thesis has been rolling around like a marble in the bowl of a lot of people’s brains for a while now, and many of those marbles were handed out by Martin Ford, in his 2015 book, “Rise of the Robots: Technology and the Threat of a Jobless Future.” In the book, and in an essay in “Confronting Dystopia: The New Technological Revolution and the Future of Work” (Cornell), Ford acknowledges that all other earlier robot-invasion panics were unfounded. In the nineteenth century, people who worked on farms lost their jobs when agricultural processes were mechanized, but they eventually earned more money working in factories. In the twentieth century, automation of industrial production led to warnings about “unprecedented economic and social disorder.” Instead, displaced factory workers moved into service jobs. Machines eliminate jobs; rising productivity creates new jobs.

Probably, but don’t count yourself out.

With the price of a bitcoin surging to new highs in 2017, the bullish case for investors might seem so obvious it does not need stating. Alternatively it may seem foolish to invest in a digital asset that isn’t backed by any commodity or government and whose price rise has prompted some to compare it to the tulip mania or the dot-com bubble. Neither is true; the bullish case for Bitcoin is compelling but far from obvious. There are significant risks to investing in Bitcoin, but, as I will argue, there is still an immense opportunity.

Never in the history of the world had it been possible to transfer value between distant peoples without relying on a trusted intermediary, such as a bank or government. In 2008 Satoshi Nakamoto, whose identity is still unknown, published a 9 page solution to a long-standing problem of computer science known as the Byzantine General’s Problem. Nakamoto’s solution and the system he built from it — Bitcoin — allowed, for the first time ever, value to be quickly transferred, at great distance, in a completely trustless way. The ramifications of the creation of Bitcoin are so profound for both economics and computer science that Nakamoto should rightly be the first person to qualify for both a Nobel prize in Economics and the Turing award.

For an investor the salient fact of the invention of Bitcoin is the creation of a new scarce digital good — bitcoins. Bitcoins are transferable digital tokens that are created on the Bitcoin network in a process known as “mining”. Bitcoin mining is roughly analogous to gold mining except that production follows a designed, predictable schedule. By design, only 21 million bitcoins will ever be mined and most of these already have been — approximately 16.8 million bitcoins have been mined at the time of writing. Every four years the number of bitcoins produced by mining halves and the production of new bitcoins will end completely by the year 2140.

Continue reading “The Bullish Case for Bitcoin” »

Boeing reportedly developed the all-new stealthy drone specifically for the Australians as part of a classified program.

Parkinson’s patients treated with a groundbreaking new therapy to regrow their brain cells have criticised a decision by regulators to stop trials as ‘sinful.’

In the biggest surgical trial ever for the disease, British patients had holes drilled into the heads and special ports implanted so that a naturally occurring protein could be infused directly into the brain over nine months.

Described as ‘Baby Bio’ for brain cells, the Glial Cell Line Derived Neurotrophic Factor (GDNF) encourages the growth of cells that produce dopamine, a crucial hormone needed for movement, which vanishes in Parkinson’s patients.

Continue reading “‘Baby Bio’ for brain cells trial halted despite Parkinson’s patients seeing ‘miracle’ results” »

The power of machine translation to help you improve your writing at work.

But that doesn’t mean you should start chugging bone broth.

Long story short, qubits need a better immune system before they can grow up.

A new material, engineered by Purdue University researchers into a thin strip, is one step closer to “immunizing” qubits against noise, such as heat and other parts of a computer, that interferes with how well they hold information. The work appears in Physical Review Letters.

The thin strip, called a “nanoribbon,” is a version of a material that conducts electrical current on its surface but not on the inside — called a “topological insulator” — with two superconductor electrical leads to form a device called a “Josephson junction.”

In early times, the universe was an energetic mix of strongly interacting particles. The first particles to break free from this dense soup were neutrinos, the lightest and most weakly interacting particles of the Standard Model of particle physics. These neutrinos are still around us today, but are very hard to detect directly because they are so weakly interacting. An international team of cosmologists, including Daniel Baumann and Benjamin Wallisch from the University of Amsterdam, have now succeeded in measuring the influence of this ‘cosmic neutrino background’ on the way galaxies have become clustered during the evolution of the universe. The research was published in Nature Physics this week.