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Category: policy – Page 65

By now, every interested news-junkie is aware that Bitcoin plummeted from $15,000 to $13,000 (USD exchange rate) on January 11, 2018. This morning, every news outlet and armchair analyst attributes the drop to the Korean government signaling that it will ban Bitcoin trading among its citizens.

With Donald Trump and Kim Jong Un butting heads over nuclear missile tests and the upcoming Winter Olympics, you would think that South Korea has other priorities than banning Bitcoin.

As with all news—except accidents—the Korean plans were known by a few insiders (in this case, government bureaucrats), and so the influence on value was bigger than the drop that occurred after the news story. In the days before this “event”, it was probably responsible for a drop of about $4500 in exchange value.

Listen up Wild Ducks! We have heard this before. On Sept 11, China announced the exact same thing. I wrote about it in the most popular article of my 7 years as Blogger: Bad News is Good News for Bitcoin Investors.

As an investor, am I worried? Not on your sweet bippy. I am ecstatic! There are some things that governments cannot ban: the mating of feral cats; water from seeping into cellars; communications networks that are distributed and permissionless. Ineffective and unenforceable regulation always spells opportunity. When I hear of such “bans” (or learn about Jamie Dimon claiming that Bitcoin is a ‘pyramid scheme’ before having all the facts), I become confused and excited…

Investors often fail to recognize the way in which toothless government edicts work. I am confused that anyone would act on such flawed information. I am excited that they do. Why?—Because each time Bitcoin makes a quick dive due to crazy or irrelevant news, it makes an even bigger upward jump within days. In this case, the reverse correction has already begun.

I created the chart, below, for my presentation at the Cryptocurrency Expo in Dubai during the last days of October. During this 3 day conference, Bitcoin jumped from $6000 to 6500 because these days followed a hard fork that scared analysts. Within 5 weeks of the conference, Bitcoin touched $20,000, depending on the exchange from which you get quotes. But here’s an odd thing (not so odd, to me): With sudden market accessibility in the past 30 days, why is Bitcoin falling? [continued below]…

In the past month (Dec 10 2017~Jan 10 2018), Bitcoin and Bitcoin futures are finally becoming accessible to traditional brokers using familiar investment instruments. As a result of market accessibility, everyone and his brother is getting into Bitcoin. Since it is still difficult to take a negative position, you might expect this fresh interest to drive up value. This expectation is reinforced by my own anecdotal observation: Based on the large number of old acquaintances asking me to help them buy Bitcoin, it certainly feels like the sentiment is bullish. But no! Existing stakeholders are dumping their positions!

It’s not just because of yesterday’s news. Rather, it’s because anyone who has seen Bitcoin triple in just 3 months, feels that their personal stake experienced a “lucky” gain. They want to turn that paper gain into a profit before it tanks.

But then, there are the cognoscenti. That’s us…We are the individuals who have a feel for the natural, intrinsic value of Bitcoin. We understand that value does not require a redemption guarantee from Caesar. We have a reasonable vision of currency, inflation, economics, history, the role of government—and especially, of distributed trust. Just as important, we understand why an altcoin is unlikely to replace Bitcoin—even if it solves some of Bitcoin’s frustrating technical and governance issues.

Governments tend to react to perceived threats before understanding opportunities, motives and that which is fait accompli. There is a role for government in all of this, but it is not to ban what cannot be banned. That is simply good news for us stakeholders.

Related Reading:

Philip Raymond co-chairs CRYPSA, publishes A Wild Duck and hosts the New York Bitcoin Event. He is keynote speaker at the Cryptocurrency Expo in India this month. Click Here to inquire about a presentation or consulting engagement.

The SRF Summer Scholars Program offers undergraduate students the opportunity to conduct biomedical research to combat diseases of aging, such as cancer, atherosclerosis, and Parkinson’s Disease. Under the guidance of a scientific mentor, each Summer Scholar is responsible for his or her own research project in such areas as genetic engineering and stem cell research. The Summer Scholars Program emphasizes development of both laboratory and communication skills to develop well-rounded future scientists, healthcare professionals, and policy makers.

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Canada is testing a basic income to discover what impact the policy has on unemployed people and those on low incomes.

The province of Ontario is planning to give 4,000 citizens thousands of dollars a month and assess how it affects their health, wellbeing, earnings and productivity.

It is among a number of regions and countries across the globe that are now piloting the scheme, which sees residents given a certain amount of money each month regardless of whether or not they are in work.

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Cryptography and radar were technologies that won World War 2. Broken codes let the allies know where major forces were being moved. So the US fleet could choose where to intercept the Japanese Navy for the Battle of Midway. Radar and sonar then provided realtime tracking of the Japanese forces during the battle.

This is a summary of information from a Foreign Policy article by Thomas E. Ricks.

Quantum entanglement, quantum superposition, and quantum tunneling can be applied in new forms of computation, sensing, and cryptography.

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Some anniversary info from the Transhumanist Party, which I founded a few years back. This growing political party—under new leadership now—continues to prove important and inspiring. Congratulations to all those who have helped it forward! http://transhumanist-party.org/2017/11/25/ustp-chairman-anniversary/ #transhumanism

Gennady Stolyarov II

On November 17, 2016, I became the Chairman of the United States Transhumanist Party. It was a turbulent era in American politics, although it now appears to me to have been a distinct prior epoch. The offer of Chairmanship from Zoltan Istvan came at exactly the right time. I was seriously considering emigrating from the United States, which would have been a mistake. For this role, however, an expatriate Chairman would not do; Zoltan asked me to remain for at least six months – hopefully a year – and then re-assess the situation. One does not get handed leadership of a political party often (or virtually ever), so this was a unique opportunity to make a difference in American politics in a constructive way, with instant gains in prominence, and without the distasteful maneuvering that many conventional political figures feel compelled to engage in to attain a comparable position.

It has been a year, and I am staying. I have indeed reassessed the situation, or perhaps the situation has been transformed so considerably than the already transitional interpretive framework of late 2016 can no longer adequately describe our present political reality. Whereas then the tumult seemed to have stemmed from a single source, we now inhabit a distinctly different sort of chaotic era, in which the chaos emanates from virtually all partisan factions espousing conventional political ideologies. The United States has not, despite my fears at the time, succumbed to dictatorship or totalitarianism – and, despite some ill-advised policy decisions and unfortunate increases in certain forms of intolerance and hatred (on both the right and the left), there are no waves of nativist “ethnic cleansing”; there are, thankfully and for now, no massive riots in the vast majority of cities, the vast majority of the time.

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ANALYSIS/OPINION:

We have recently seen evidence of how our national security was compromised by the Obama administration’s approval of the Uranium One deal that gave Russia 20 percent of our uranium reserves. We are now learning more about the serious security compromise at Port Canaveral and its adjacent military infrastructure.

The container port is not only close to U.S. Air Force facilities and NASA’s Kennedy Space Center, but more importantly, it is adjacent to our strategic ballistic missile nuclear submarine base. A Nov. 2 Center for Security Policy updated “occasional paper” exposes this “perfect storm” of a threat tied to Russia’s Club-K container missile system.

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