Lifeboat Foundation

Let us frame the question, by reviewing what miners really do…

Miners play a critical role in the Bitcoin network. Their activity (searching for a nonce) results in assembling an immutable string of blocks that corroborate and log the universal transaction record. They are the distributed bookkeepers that replace old-school banks in recording and vouching for everyone’s purchase or savings.

From the perspective of a miner, there is no obvious connection between their activity and the worldwide network of bitcoin transactions and record keeping. They are simply playing an online game and competing against thousands of other miners in an effort to solve a complex and ongoing math problem. As they arrive at answers to small pieces of the problem, they are rewarded with bitcoin, which can be easily translated into any currency.

What is the Problem?

Continue reading “How will Bitcoin Work When Mining Rewards Run Out?” »

A BASIC income (BI) is defined as a modest, regular payment to every legal resident in the community, paid unconditionally as a right, regardless of income, employment or relationship status.

Contrary to conventional wisdom, the case for BI does not rest on the assumption that robots and artificial intelligence will cause mass unemployment or that it would be a more efficient way of relieving poverty than present welfare systems (although it would). The main arguments are ethical and relate to social justice, individual freedom and the need for basic security.

A team of researchers from Cologne and New York has presented proposals for future traffic management. A dynamic, fair toll for road use could reduce congestion.

In the current issue of Nature, the economists Peter Cramton, Axel Ockenfels (both University of Cologne) and Richard Geddes (Cornell University) describe a concept in which drivers would have to pay a dynamic fee for the use of roads. This would contribute to avoiding traffic jams and protecting the environment, the researchers argue. Fees that respond to traffic volumes in real time and with site precision, taking into account factors such as vehicle type and exhaust emissions, can significantly improve traffic flow and contribute to reducing air pollution.

Traffic jams are not only annoying and time-consuming, they are also costly. In Germany, the economic damage caused by congested roads in 2017 totaled approximately €80 billion. “Currently, road users who cause traffic jams, while damaging the environment and even incurring costs, are paying just as much as those who are not involved,” says Ockenfels. “Without a toll, this means that the general public is subsidizing these road users. That’s unfair.” A toll for road use would bring these costs to light and reduce congestion. “If the fee adapts to the volume of traffic and the situation on the road in real time, i.e., is more expensive at rush hour than around noon, everyone can choose the route that suits them best. This already works for navigation systems,” explains Cramton. “Ultimately, this would reduce the load on main traffic arteries, improve traffic flow and reduce CO₂ emissions.

Today, economist and Nobel laureate, Paul Krugman, wrote in the New York Times, that Bitcoin is taking us back 300 years in monetary evolution. As a result, he predicts all sorts of bad things.

A significant basis for Mr. Krugman’s argument is that the US dollar has value because men with guns say it does.

Is Bitcoin erasing 300 years of monetary evolution?

Running with the metaphor that fundamental change to an economic mechanism represents ‘evolution’, I think a more accurate statement is that Bitcoin is not erasing the lessons of history. Rather, it is the current step in the evolution of money. Of course, with living species, evolution is a gradual process based on natural selection and adaptation. With Bitcoin, change is coming up in the rear view mirror at lightning speed.

Continue reading “Is Bitcoin Erasing 300 years of Monetary Evolution?” »

Experts widely agree that human activities are harming the global environment. Since the Industrial Revolution, the world economy has grown dramatically. Overall this is a success story, since rising incomes have lifted millions of people out of poverty. But it has been fueled by population growth and increasing consumption of natural resources.

Rising demand to meet the needs of more than 7 billion people has transformed land use and generated unprecedented levels of pollution, affecting biodiversity, forests, wetlands, water bodies, soils and air quality.

Continue reading “Yes, humans are depleting Earth’s resources, but ‘footprint’ estimates don’t tell the full story” »

New solar energy research from Arizona State University demonstrates that silicon-based, tandem photovoltaic modules, which convert sunlight to electricity with higher efficiency than present modules, will become increasingly attractive in the U.S.

A paper that explores the costs vs. enhanced efficiency of a new solar technology, titled “Techno-economic viability of silicon-based, tandem photovoltaic modules in the United States,” appears in Nature Energy this week. The paper is authored by ASU Fulton Schools of Engineering, Assistant Research Professor Zhengshan J. Yu, Graduate Student Joe V. Carpenter and Assistant Professor Zachary Holman.

The Department of Energy’s SunShot Initiative was launched in 2011 with a goal of making solar cost-competitive with conventional energy sources by 2020. The program attained its goal of $0.06 per kilowatt-hour three years early and a new target of $0.03 per kilowatt-hour by 2030 has been set. Increasing the efficiency of photovoltaic modules is one route to reducing the cost of the solar electricity to this new target. If reached, the goal is expected to triple the amount of solar installed in the U.S. in 2030 compared to the business-as-usual scenario.

Continue reading “Research finds silicon-based, tandem photovoltaic modules can compete in solar market” »

This podcast is from my article called, The U.S. Economy is Built on a Foundation of Sand.

While many Economists, are saying that the U.S. economy looks great and has a forward momentum, I’m going to take a different tone. Not a pessimistic tone but a realistic view based upon facts and my futurist intuitive insight.

Continue reading “AI & Technology Taking Over White Collar Jobs” »

Universal basic income is a generous idea in principle, with clear benefits to society. However, the question of how to pay for it remains an enigma. While some propose taxation, others think we should use the booming space trade to benefit us all.

Universal basic income is the idea that every citizen should receive an amount of money from the government to meet their needs, regardless of age, race, gender, or even need. It has been billed as a solution to a variety of current and potential societal problems, including AI automation, poverty, and people losing the ability to allocate their own time.

For as long as she can remember, she’s puzzled over what’s out there. As a kid drifting off to sleep on a trampoline outside her family’s home near Portland, Ore., she would track the International Space Station. She remembers cobbling together a preteen version of the Drake Equation on those nights and realizing that the likelihood of intelligent alien life was something greater than zero. Star Trek marathons with her father catalyzed her cosmic thinking, as did her mother’s unexpected death when Bailey was 8. The house lost some of its order—some of its gravity—which led to more nights gazing skyward on the trampoline.

In college, Bailey got a hard-won paid internship at the now-merged aerospace giant Hamilton Sundstrand and joined a team repairing turbine engines. She hated it. “It was the opposite of pushing the envelope,” she says. “Nothing new ever went into that building. Nothing new ever left that building.”

By the time she set off to get a master’s degree in mechanical engineering at Duke University, the idea of logging 30 years at a place like Boeing Cor NASA had lost all appeal. She tried her hand at finance and later law, and was unlucky enough to excel at both. “I made it pretty far down that path, but then I thought, Wait, if I become a lawyer, then I’m a lawyer and that’s what I do,” she recalls. “What if I don’t want to do that on Tuesdays?”

Continue reading “Ion Engine Startup Wants to Change the Economics of Earth Orbit” »