Lifeboat Foundation

A new 3-minute interview is out that I did. It hits on some fun topics:

Host Angelo Robles talks with transhumanist, Zoltan Istvan, a world leader in science, technology, and futurist issues. Zoltan shares insights on what it means to prosper, how philanthropy can play a part in creating a more unified family and community, along with the responsibility he feels we all should consider when look to our future economy.

Continue reading “Zoltan Istvan on the Scientific Method In Politics” »

There are several ways we can deal with the troubles that lie ahead during the transition to full automation. Some experts and companies are exploring basic income, the centuries-old idea of giving unconditional money to all citizens, enough for them to live their lives. Other thought leaders such as Bill Gates are proposing robot taxes, where companies that use automation pay certain fees for the jobs they take away from humans. Other solutions might emerge.

Automation will continue to move forward at an accelerating pace. We don’t need to fear about the destination. Instead, we must prepare ourselves for the rocky road ahead. I’m not worried about the robots taking all the jobs. I’m worried about them leaving some to the humans.

“The Theranos story is an important lesson for Silicon Valley,” said Jina Choi, director of the SEC’s San Francisco Regional Office. “Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what their technology can do today, not just what they hope it might do someday.”

Elizabeth Holmes raised hundreds of millions of dollars from investors on the promise that her medical-testing startup Theranos Inc. would change medicine with a single drop of blood. On Wednesday, securities regulators called her a fraud and forced her to give up the company she built.

The lawsuit and settlement announced Wednesday by the U.Securities and Exchange Commission detailed how Holmes and her chief deputy lied for years about their technology, snookered the media, and used the publicity to get investors to hand more than $700 million to keep the closely held company afloat.

Continue reading “Blood, Fraud and Money Led to Theranos CEO’s Fall From Grace” »

John Oliver is a crossover who bridges the art of a comedian with the reporting and perspective of a liberal political pundit. Even detractors acknowledge that Oliver addresses serious issues with unusual wit and humor.

I never thought Oliver could (or would) tackle the topic of cryptocurrency—at least not with value to the viewer. It is too geeky, and too esoteric. (It also cuts into my mission of evangelism and education). smile

He did, and he sparkles! Feel free to jump past the fluff. The Bitcoin tutorial starts at 3:40. Of course, my friend, Shechter, in Long Island New York will bust a gut over what Oliver says at 9:40. It is not only clear and concise, it is accurate and terribly funny!

Whether you are a Bitcoin newbie or a seasoned blockchain coder, this is the video you have been looking for. This one is durable.

Continue reading “John Oliver explains Bitcoin, Blockchain & Crypto (with precision & clarity)!” »

Today, I was asked to answer this question at Quora:

“What sets each cryptocurrency apart from the others?”

“Cryptocurrency” is a broad term. It refers to payment coins, of course—such as Bitcoin and Litecoin. But, because most tradeable tokens attain an asset value, the word is often used to refer to smart contract devices, such as Ethereum, a host of other blockchain based tokens, functional Internet-of-Things tokens, and even ICOs (Initial Coin Offerings). Since people treat ICOs and IOT tokens as investment instruments even if they are useless as a payment mechanism, they all fall within the realm of a cryptocurrency.

So, before addressing the question, let’s distinguish between Altcoins and ICOs. I assume the question refers to Altcoins, and not ICOs…

Continue reading “What sets cryptocurrencies apart from each other?” »

A new section about Bitcoin ATM business models
has been added. Jump to “UPDATE – July 2019”

The good news is that building a Bitcoin ATM is easy and less expensive than you might expect. But, offering or operating them engulfs the assembler in a regulatory minefield! It might just be worth sticking to selling bitcoin on PayPal (visit this website for more information on that). You might also wish to rethink your business model—especially user-demand scenarios. See our 2019 update at the bottom of this article.

A photo of various Bitcoin ATMs appears at the bottom of this article. My employer, Cryptocurrency Standards Association, shared start-up space at a New York incubator with the maker of a small, wall mounted ATM, like the models shown at top left.

What is Inside a Cryptocurrency ATM?

Continue reading “Building a Bitcoin ATM is easy, but…” »

Legacy Method of Inheriting Assets

Many Bitcoin owners choose to use a custodial account, in which the private keys to a wallet are generated and controlled by their exchange—or even a bank or stock broker. In this case, funds are passed to heirs in the usual way. It works like this…

An executor, probate attorney, or someone with a legal claim contacts the organization that controls the assets. They present a death certificate, medical proxy or power-of-attorney. Just as with your bank account or stocks and bonds, you have the option of listing next of kin and the proportion of your assets that should be distributed to each. These custodial services routinely ask you to list individuals younger than you and alternate heirs, along with their street addresses, in the event that someone you list has died before you.

Of course, Bitcoin purists and Libertarians point out that the legacy method contradicts the whole point of owning a cryptocurrency. Fair enough.

Continue reading “What happens to your Bitcoin if you die or forget passwords?” »

First, let’s get some basics out of the way…

What is Transaction Malleability?

Here are 2 explanations of transaction malleability: [Coindesk] [TechTalk]

In a nutshell, Transaction Malleability is a weakness in the original Bitcoin implementation that enables a bad actor to change the unique ID of a bitcoin transaction before it is confirmed on the Blockchain. Such a change makes it possible for someone to pretend that a transaction didn’t happen, if all necessary conditions are in place.

Continue reading “Have there been successful Transaction Malleability attacks?” »

State broadcaster China Central Television (CCTV) and Tencent Research surveyed 8.000 respondents on their attitudes toward AI as part of CCTV’s China Economic Life Survey. The results show that 76.3 per cent see certain forms of AI as a threat to their privacy, even as they believe that AI holds much development potential and will permeate different industries. About half of the respondents said that they believe AI is already affecting their work life, while about a third see AI as a threat to their jobs.

A China Central Television and Tencent Research survey found that three in four respondents are worried about the threat that artificial intelligence poses to their privacy.