Lifeboat Foundation

What is Bitcoin?

Sure—You know the history. As it spread from the geeky crypto community, Bitcoin sparked investor frenzy. Its “value” was driven by the confidence of early adopters that they hitched a ride on an early train, rather than commercial adoption. But, just like those zealous investors, you realize that it may ultimately reduce the costs of online commerce, if and when if it becomes widely accepted.

But what is Bitcoin, really? To what class of instruments does it belong?

• Ardent detractors see a sham: A pyramid scheme with no durable value; a house of cards waiting to tumble. This is the position of J.D, an IRS auditor who consults to The Cryptocurrency Standards Association. As devil’s advocate, he keeps us grounded.

Continue reading “Bitcoin Adoption: Series of reactions” »

“Another big trend at work: The Renault robots are ‘collaborative,’ designed to work in proximity to people. Older types of factory robots swing their steel arms with such force that they can bludgeon anyone who strays too close. Using sonar, cameras or other technologies, collaborative robots can sense where people are and slow down or stop to avoid hurting them.” Read more

Ric Edelman is one the top financial advisors in the US. His firm, Edelman Financial Services, has 41 offices across the country. And he thinks, all things constant, most financial advisors as we’ve known them won’t be around much longer.

At Exponential Finance, Edelman said, “I firmly believe that in the next ten years, half of all the financial advisors in this country will be gone.” Read more

So it was great to get back to New York and be able to report on what is called the“New NY Broadband Program.” It involves a $500 million expenditure to help ensure that New Yorkers across the state have access to current-generation Internet capacity. There’s lots of potential in the plan, targeted at providing every New Yorker with access to 100 megabit per second (Mbps) service (10 Mbps uploads) by the end of 2018. Because New York expects a 1:1 match from the private sector for each grant or loan it makes, that means the state hopes to be deploying at least $1 billion on high-speed Internet access infrastructure.

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“If he was paid by the oil and gas industry lobby he couldn’t have written a more favorable article for them.”—Elon Musk

Video & Article on Criticism about Incentives

“Canada’s domestic digital divide, with the North as its epicenter, has been a point of growing concern over the last several years. Much of the internet in the northernmost regions of the country is still beamed down by satellites, but a plan to link Europe and Asia with fiber optic cable via Nunavut is currently being negotiated by a Toronto-based company called Arctic Fibre.”

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“Living Breakwaters is a comprehensive design for coastal resiliency along the Northeastern Seaboard of the United States and beyond. This approach to climate change adaptation and flood mitigation includes the deployment of innovative, layered ecologically-engineered breakwaters, the strengthening of biodiversity and coastal habitats through “reef streets”, the nurturing and resuscitation of fisheries and historic livelihoods, and deep community engagement through diverse partnerships and innovative educational programs. The transformative educational dimension amplifies impact to the next generation of shoreline stewards while leveraging the expertise of the members of the SCAPE Architecture team, who are making groundbreaking inroads into state and federal agencies, setting new precedents for multi-layered and systemic approaches to infrastructure planning.”

LINK: Governor Cuomo Announces Living Breakwaters Project Launch

It’s been awhile since the cost of gasoline topped $4 in the U.S. The national average hit $4.11 on July 11, 2008 and came close in May 2011 at $3.96. On New Years Day 2015, I drove through the night from Chicago to Boston. Despite the cold weather, the economics of fuel made it the best day for a road trip in years. I bought gas at a Pilot service station just off the Ohio Turnpike at $1.92/gallon. For me, it seemed like a bargain. Yet, 23 states charge less for gasoline than Ohio.

Now, at the end of May 2015, gas is rebounding from that low. Drivers on Memorial Day weekend faced the highest cost for gasoline of the year so far.

It’s tempting for politicians to advocate using tax breaks to smooth price spikes. With energy often surpassing the expense of food and rent and with so many individuals using fuel to make a living, reducing user fees or taxes during periods of very high fuel cost seems like the humane thing to do.

It seems humane, but it has the opposite effect. In fact, it is deeply punitive! That’s because the cost of gas is not an act of nature, nor even of free market economics. It is a product of cartels, special interests, conflict and FUD (fear, uncertainty and doubt). Offering relief during price spikes sustains demand while doing absolutely nothing to increase supply. This, in turn, exacerbates the spike, creates shortages for critical services and transfers enormous sums of money from consumers to producers. In effect, it is a free gift for producer nations.

Continue reading “Increase Gas Tax as Cartel Price Rises” »

“[T]he United States needs a more systematic way to help its bottled-up new-science innovators deliver their ideas to the world.”

A better way to deliver innovation to the world