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Money Money Money Money, Money!

What is money?

It’s been too long since my last post but I wanted to share a great video that brings into perspective information that is relevant now more than ever.  In light of our current financial crisis, in light of the hardships of many brought on by this global pandemic, and in light of the fragility of our current financial system. I want to share a video that does a tremendous job of making us rethink exactly what money is, what it does, and most importantly, who controls it and regulates the environment that makes it work as well as who makes us so dependent on it, but how most have no appreciation of how we are enslaved to it, enjoy:

If you like what you see and want to trade with leverage, (only for experienced traders) follow the following link: https://www.bybit.com/app/register?ref=zz9Vm  (VPN required if within United States)

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If you want someone(s) to hear something, say it again, and louder

I’m beginning to sound like a broken record but I’m passionate to get the message out.  It’s hard to appreciate the trans-formative potential that some ideas (Bitcoin whitepaper) will bring until it’s already become mainstream and part of our normal lives. I’m openly admitting I’ve timed the crypto market wrong (for now), lost money, and am fundamentally ok with that because I sincerely believe this is just the beginning like the dotcom bubble of 2000.  I remember having the thought when Google’s IPO offered shares @ ~$40 how ridiculous that seemed (not knowing anything about markets or company valuation at the time).  I knew the company was a good one but could not conceive of how they could become that much more valuable.  Well…

Google Stock
image of google stock price over its history

I was short sighted then, I don’t plan to repeat myself

Bitcoin Price History
History of bitcoin price form early 2010

Trading value as of today:  $6,520.96

so from $.06 (pictured but hundredths of a penny initially) to $6,520.96

But there’s no company or physical entity behind it, why should I pay my hard earned money to buy something that doesn’t even really exist in a tangible manner? In a word, trust I could go on to try and explain a lot of concepts from math and hashes and verifiable, reversible proofs that make it possible and many of which I could not begin to teach with any passable competence, but I understand the concept of trust and the importance of it in business as well as day to day interactions.  Bitcoin, in a word, is about being able to trust without knowing anything about the counter-party, only about the history of a protocol that is proven secure and functional 9 years running from genesis block.

Well, from here, I’ll let this extremely well written and thorough article explain the rest:  “The bullish case for bitcoin”

For those who are still reading, thanks, and in the words of the vlog brothers,“Don’t forget to be awesome” if you find success with the knowledge you find in this post.

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“Buy the Dips” Crypto is the future of money but you should 1. not invest what you don’t have, 2. “hodl” (hold)

Fiat money to cryptoHere are some key concepts to get up and running with Crypto:

When you go to another country, you (usually) have to exchange your local currency to that country’s currency to spend value when you’re there – same with crypto but once exchanged, it’s universal so long as someone has a computer or smartphone and is willing to accept that crypto as payment. Countries who have outlawed it find the value of said cryptocurrency to increase rapidly by doing so
For those in the US (where I am currently), only a few exchanges convert U$D directly (Coinbase and gemini) and those exchanges only sell a very limited set of altcoin (other cryptocurrenies from Bitcoin – in the case of coinbase, only BTC, LTC, ETH, and BCH – just introduced)
Not all exchanges support the Altcoin you might want (but exchanges like binance and bittrex have very wide support)
 
Path to buying:
1. Buy local currency (U$D) to BTC (BTC most widely accepted for conversion to altcoin on exchanges with ETH close behind)
2. Once purchased, send BTC/ETH to desired Exchange where it can be utilized to convert to desired altcoin otherwise keep BTC with original exchange and “hodl” (hold)
3. Purchase desired altcoin with BTC/ETH balance
4. Buy the dips and “Hodl” (insider term for HOLD or have resilience to hold through the drops because there are many – very turbulent market)

To recap:

Buy bitcoin, litecoin, ethereum, or bitcoin cash at USD to crypto exchange (coinbase or Gemini),  Open account on binance or other exchange that has the altcoin you wish to purchase, (binance, bittrex, kraken, etc).

Since these exchanges do not have direct USD to crypto option you have to send your bitcoin, litecoin…  etc to the exchange from coinbase or gemini. To do this, you open binance (or other) account and under funds, you choose deposit(receive) BTC/ETH etc… Copy the address that binance (or other exchange) provides (***BE VERY CAREFUL!!! because sending to the wrong address might lead to losing the money permanently***).  You then switch back to coinbase (or gemini) and “send” your bitcoin from there to binance (or other). To do this on coinbase,go to “accounts” section and “send”.
Once the send has been confirmed, the digital currency will be transferred to your other exchange’s wallet and available to spend on other currencies.
Bitcoin and Ethereum are the main ones used for conversion to others so it’s best just to buy those two if you with to trade it immediately
***USD to BTC/ETH Exchange is slow (even to usd wallet)*** 
It takes days (week) to buy bitcoin and even send USD to the USD wallet on coinbase (don’t know how gemini compares yet).  I have been lucky the BTC has risen significantly both times I purchased directly but you might want to send USD to wallet first to prevent seeing your BTC value drop and not having a chance to redirect it or cash out for a week that it takes to become available (you will also miss out if it grows)
Hope this clears things up and is helpful on your journey to currency decentralization.
Disclaimer:  This is not in any way to be construed as financial advice “this is just a dude on the internet, talking about cryptocurrencies”
Long live the blockchain!
btc coin with chart in background
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How likely is a friendly AI?

The University in Nottingham England has a great series of videos on many different computer topics and one of my favorites right now is this playlist.  In the series, Rob Miles does a tremendous job of explaining why really thinking through the process of AI design is crucial before unforeseen consequences might arise from a general learning AI run amok.  When AIs come near to our human level of self-awareness and generalized adaptability it will likely be beyond the point of design consideration and soon past the point of return to stop a system that takes the wrong trajectory (evil like skynet or non-sinister but ignorantly or indifferently non-human preserving).  Really interesting and informative!

 

Think before IT does

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Last tire you’ll ever need?

Odd how sometimes I muse about topics (random topics) only to see relevant news articles shortly follow my musings.  I was Thinking about tires, of all things, and how they seem terribly inefficient and wasteful but how they are necessary for a smooth and comfortable ride.  Well, Michelin has been thinking about this too apparently.  Kinda funky looking right now but how interesting, and it will remove the need for the wheel too.

 

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What’s up with Boston and cheating?

In this article from the New York Times, the Red Sox prove to be the second team from Boston caught cheating in the current decade (particularly sad for me since I used to be a Pats fan since the early 80’s).  I just listened to a reply all podcast from Gimlet media today as well about an 800 number phone scandal.  Technology has the potential for good in so many ways and as the linked items suggest, the potential for a lot of evil.  Raise your kids right folks.