Lifeboat Foundation

Recently, I was named Most Viewed Writer on Bitcoin and cryptocurrency at Quora.com (writing under the pen name, “Ellery”). I don’t typically mirror posts at Lifeboat, but a question posed today is relevant to my role on the New Money Systems board at Lifeboat. Here, then, is my reply to: “How can governments ban Bitcoin?”

Governments can enact legislation that applies to any behavior or activity. That’s what governments do—at least the legislative arm of a government. Such edicts distinguish activities that are legal from those that are banned or regulated.

You asked: “How can governments ban Bitcoin?” But you didn’t really mean to ask in this way. After all, legislators ban whatever they wish by meeting in a congress or committee and promoting a bill into law. In the case of a monarchy or dictatorship, the leader simply issues an edict.

So perhaps, the real question is “Can a government ban on Bitcoin be effective?”

Continue reading “Can Governments Ban Bitcoin?” »

“What is the best way to study the brain? Big labs or small?”

Read more

It seems like every day we’re warned about a new, AI-related threat that could ultimately bring about the end of humanity. According to Author and Oxford Professor Nick Bostrom, those existential risks aren’t so black and white, and an individual’s ability to influence those risks might surprise you.

Image Credit: TED

Bostrom defines an existential risk as one distinction of earth originating life or the permanent and drastic destruction of our future development, but he also notes that there is no single methodology that is applicable to all the different existential risks (as more technically elaborated upon in this Future of Humanity Institute study). Rather, he considers it an interdisciplinary endeavor.

“If you’re wondering about asteroids, we have telescopes, we can study them with, we can look at past crater impacts and derive hard statistical data on that,” he said. “We find that the risk of asteroids is extremely small and likewise for a few of the other risks that arrive from nature. But other really big existential risks are not in any direct way susceptible to this kind of rigorous quantification.”

Continue reading “Can The Existential Risk Of Artificial Intelligence Be Mitigated?” »

“French members of parliament (MPs) have voted to give the government extra powers to block online communications when the country is under a “state of emergency.””

Read more

“Companies around the world are bracing themselves for an avalanche of cyber security regulation, as governments scramble to introduce rules forcing corporate groups to build stronger defences against catastrophic hacks.”

Read more

http://spacenews.com/u-s-air-force-assigns-two-block-buy-launches/

At the end of 2015, the US national debt will be 18.6 trillion dollars. With such a big number, it’s tempting to put it in perspective by comparing it with things more easily envisioned. Alas, I can not think of anything that puts such an oppressive and unfair burden into perspective, except to this:

US debt represents a personal obligation of $60,000 for each American citizen. And it is rising quickly. Most of our GDP is used simply to pay down interest on that debt. Few pundits see a way out of this hole.

In my opinion, that hole was facilitated in August 1971, when the US modified the Bretton Woods Agreement and unilaterally terminated convertibility of the US dollar to gold. By forcibly swapping every dollar in every pocket and bank account with the promise of transient legislators, individual wealth was suddenly based on fiat instead of something tangible or intrinsic.

Continue reading “What if U.S. had raised interest rates?” »

This short post is not about Bitcoin. It’s about a new method of organizing and arbitrating communications that is at the heart of Bitcoin

We hear a lot about the blockchain. We also hear a lot of misconceptions about its purpose and benefits. Some have said that it represents a threat to banks or to governments. Nonsense! It is time to form a simple, non-political, and non-economic explanation…

What is a Blockchain?

The blockchain is a distributed approach to bookkeeping. It offers an empowering, efficient and trusted way for disparate parties to reach consensus. It is “empowering”, because conclusions built on a blockchain can be constructed in a way that is inherently fair, transparent, and resistant to manipulation.

Continue reading “What is a Blockchain?” »

When my daughter was just starting primary school, she would look inside a book for the pictures before reading the text. She was old enough to read without pictures, but she wanted to get a quick synopsis before diving in. “Look, Dad! a bunny is carrying a giant clock into a rabbit hole.”

This is my first article without pictures. At least none of Bitcoin, because the copper coin metaphors are tired and inaccurate. At the user level, owning bitcoin is simply your stake in a widely distributed ledger. Ownership exists only as strings of secret code and public code. There is no physical coin.

Since the only pictures in this post show a white rabbit with a big clock, let me give you the quick synopsis: The answer is “No”. Bitcoin will not end government, nor its ability to tax, spend—or even enforce compliance.

But there is an irony: Most lawmakers and regulators have not yet figured this out. They perceive a great threat to their national interests. That’s why Andreas M. Antonopoulos runs around the world. He briefs prime ministers, cabinets and legislators with the noble purpose of demystifying and de-boogieing Bitcoin.

Continue reading “Will Bitcoin End the Reign of Government?” »