Lifeboat Foundation

July 9 update:
_{3 days after posting, Visa acknowledged that Bitcoin has a future in payments. This is an understatement, of course. The bank described below goes a step further by acknowledging that the entire financial infrastructure may cave to cryptocurrencies.}

French bank BNP Paribas warned customers and investors that the technology behind bitcoin might one day overtake conventional, account-based financial institutions, thus rendering existing companies redundant (that’s British for “obsolete”).* It’s a tectonic acknowledgement from one of the world’s biggest banks.

Analyst Johann Palychata writes in the company’s magazine Quintessence that Bitcoin’s blockchain, the underlying architecture that allows cryptocurrency to function, “should be considered as an invention like the steam or combustion engine,” that has the potential to transform the world of finance and beyond.

Check out the full story by Oscar Williams-Grut at Business Insider.

Continue reading “Major bank admits bitcoin could destroy banks, brokers & exchanges” »

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” »

“A flag, in short, for all of earth.”

SIMPLICITY DEATH! By Mr. Andres Agostini

(PLEASE PAY ATTENTION TO THIS SUBJECT MATTER AS IT WOULD BE AMPLIFIED IN FUTURE NEW ARTICLES UNDER THE SAME TITLE).

I will give you some considerations excerpted from the White Swan book ( ASIN: B00KMY0DLK ) to show that Simplicity, via Technological, Social, Political, Geopolitical, and Economic Changes, is OUTRIGHT OBSOLETE and there is now ONLY: COMPLEXITY AND THE POWER OF COMPLEXITY.

THEREFORE:

Continue reading “SIMPLICITY DEATH! By Mr. Andres Agostini” »

Quoted: “Tony Williams, the founder of the British-based legal consulting firm, said that law firms will see nearly all their process work handled by artificial intelligence robots. The robotic undertaking will revolutionize the industry, “completely upending the traditional associate leverage model.” And: “The report predicts that the artificial intelligence technology will replace all the work involving processing information, along with a wide variety of overturned policies.”

Read the article here > https://hacked.com/legal-consulting-firm-believes-artificial…yers-2030/

Quoted: “If you understand the core innovations around the blockchain idea, you’ll realize that the technology concept behind it is similar to that of a database, except that the way you interact with that database is very different.

The blockchain concept represents a paradigm shift in how software engineers will write software applications in the future, and it is one of the key concepts behind the Bitcoin revolution that need to be well understood. In this post, I’d like to explain 5 of these concepts, and how they interrelate to one another in the context of this new computing paradigm that is unravelling in front of us. They are: the blockchain, decentralized consensus, trusted computing, smart contracts and proof of work / stake. This computing paradigm is important, because it is a catalyst for the creation of decentralized applications, a next-step evolution from distributed computing architectural constructs.

Read the article here > http://startupmanagement.org/2014/12/27/the-blockchain-is-th…verything/

Kaizen and Six Sigma Vs. White Swan “…Transformative and Integrative Risk Management …”

ABSOLUTE END.

Continue reading “Kaizen and Six Sigma Vs. White Swan ‘…Transformative and Integrative Risk Management …’ [Pictorial] — Andres Agostini” »

Quoted: “Ethereum will also be a decentralised exchange system, but with one big distinction. While Bitcoin allows transactions, Ethereum aims to offer a system by which arbitrary messages can be passed to the blockchain. More to the point, these messages can contain code, written in a Turing-complete scripting language native to Ethereum. In simple terms, Ethereum claims to allow users to write entire programs and have the blockchain execute them on the creator’s behalf. Crucially, Turing-completeness means that in theory any program that could be made to run on a computer should run in Ethereum.” And, quoted: “As a more concrete use-case, Ethereum could be utilised to create smart contracts, pieces of code that once deployed become autonomous agents in their own right, executing pre-programmed instructions. An example could be escrow services, which automatically release funds to a seller once a buyer verifies that they have received the agreed products.”

Read Part One of this Series here » Ethereum — Bitcoin 2.0? And, What Is Ethereum.

Read Part Two of this Series here » Ethereum — Opportunities and Challenges.

Read Part Three of this Series here » Ethereum — A Summary.

Quoted: “Bitcoin technology offers a fundamentally different approach to vote collection with its decentralized and automated secure protocol. It solves the problems of both paper ballot and electronic voting machines, enabling a cost effective, efficient, open system that is easily audited by both individual voters and the entire community. Bitcoin technology can enable a system where every voter can verify that their vote was counted, see votes for different candidates/issues cast in real time, and be sure that there is no fraud or manipulation by election workers.”

Read the article here » http://www.entrepreneur.com/article/239809?hootPostID=ba473f…aacc8412c7