3 Billion New People to Use Bitcoin
In success, it will become the predominant means of financial transaction for not only the developed world but the developing world, the group I call the rising billion. Remember that 3 billion new people are coming online this next decade who do not have access to credit cards or banks. Bitcoin is their method to transact.
These 3 billion people represent tens of trillions of dollars that will flow into the global economy. Given that there are only 21 million bitcoins, you do the math. – Peter Diamandis, Co-founder of Singularity University
The Mainstream Narrative
The mainstream narrative has made a drastic shift. It seems that the media, despite all its claims that Bitcoin is dying or is already dead, has learned that crypto currency is here to stay.
It’s resiliency has been tested and still it stands stronger than it has ever been before. That narrative of a shady underground currency used only by drug dealers and pedophiles is no more. Instead the conversation has shifted to that of the impact Bitcoin will have on disrupting billion and trillion dollar financial industries
Despite the gap that is left to bridge, I agree with Michael Novogratz who is a Principal at Fortress Investment Group. He see’s the amount of human capital moving into the space, some 30,000+ programmers and engineers, and wants to bet on that alone.
Looking back just a couple years ago, the idea that well established professionals would give up fat paychecks, huge offices, lunch buffets, and a multitude of perks and privileges to work on a technology reserved only for a Den of thieves was unthinkable. Yet now it is a reality, with many of those daring to take the plunge likening the atmosphere surrounding the Bitcoin space to that of the internet in 1994 – CryptoTraveler
Bitcoin market cap 35x larger than litecoin, up from 18x two months ago – Coindesk
COMPANIES / PROJECTS
* Reliable & secure P2P broadcast crucial to block chain protocols. Radio more secure than simulated broadcast on Internet – Nick Szabo
* kryptoradio is run by Koodilehto – same Finnish startup planning to broadcast blockchain over DVB-T freq – xbtwire
An open source, multi-signature wallet.
This dramatically mitigates the risk of theft. This concept is so powerful that we believe it will virtually eliminate the problem of bitcoin theft. It is important to educate yourself and use services that offer true bitcoin multi-signature wallets.
* A small company can for example manage their bitcoin holdings by requiring 3 of 5 officers to sign transactions that spend funds.
* A household can use a 2 of 3 wallet to manage family funds (with one signer on a device tucked away in a secure, offline location in case someone accidentally loses their online wallet).
* A parent can use a 2 of 3 wallet with their child to moderate the child’s spending habits and ensure they don’t accidentally lose bitcoins to a virus.
There are many more possibilities – Stephen Pair, Bitpay
BreadWallet is currently the best iOS Bitcoin wallet https://itunes.apple.com/us/app/breadwallet/id885251393?mt=8
Expect the rapid death of all Bitcoin Bank models: SUPERFLUOUS. – Beautyon
Sizing the market for a disruptor based on an incumbent’s market is like sizing the car industry off how many horses there were in 1910 – Aaron Levie
How to Miss By a Mile: An Alternative Look at Uber’s Potential Market Size – Bill Gurley, VC at Benchmark
This is an outstanding analysis. A fascinating insight into the mental models of one of the best VCs in the game – Lee Banfield
A Totalitarian Mentality
William Binney is one of the highest-level whistleblowers to ever emerge from the NSA. He was a leading code-breaker against the Soviet Union during the Cold War but resigned soon after September 11, disgusted by Washington’s move towards mass surveillance.
“At least 80% of fibre-optic cables globally go via the US”, Binney said. “This is no accident and allows the US to view all communication coming in. At least 80% of all audio calls, not just metadata, are recorded and stored in the US. The NSA lies about what it stores.”
That’s a ‘totalitarian mentality’
The NSA will soon be able to collect 966 exabytes a year, the total of internet traffic annually. Former Google head Eric Schmidt once argued that the entire amount of knowledge from the beginning of humankind until 2003 amount to only five exabytes.
“The ultimate goal of the NSA is total population control”, Binney said – Antony Loewenstein
You want private phone calls? Use Asterisk. No matter where family or staff are globally all calls are secure and call initiation is hidden.
Asterisk* phone calls are impossible to track, hack, snoop, scoop, copy, trace, pen or otherwise fiddle with. http://www.asterisk.org
Censorship Resistant Marketplaces
If a system wants to be censorship resistant it has to have two very important qualities.
1) Decentralize the Locus of Control: If your organization has a headquarters, a CEO, a bank account, then men with guns can show up, they can shut it down or they can co-opt it.
2) Protect the Participants: You can do this with anonymity networks like Tor.
If you can trade guns and drugs on dark markets, you can trade more pedestrian items. Censorship resistant dark markets can circumvent capital controls for industries that are not explicitly prohibited.
There are at least two important elements of that:
1) Tax avoidance: Taxes make everything extremely expensive because they are multi-tiered (supplier taxes, transportation taxes, sales taxes, property taxes, payroll taxes, social security taxes, health care taxes)
2) Go beyond trade barriers: Restrictions on what goods we can sell, to whom, where we can send them, how we can send them, etc.
Circumvention of capital controls is the killer feature of dark market places that is going to drive more and more industries into the dark market. I don’t mean all the companies that currently exist are going to be trading over Open Bazaar. Maybe Amazon or Overstock never wishes to do that, but more and more of the industry will go into these dark market places and eventually replace some of these old companies.
I am anticipating, in addition to a technological singularity, we will also see a private property singularity, where technology allows us to circumvent state regulations. As this happens, economic growth is going to get faster and faster and faster, it’s going to accelerate until the point where it’s going to be very difficult to predict what the market place will look like a year from now, and then a month from now, and then a week from now…
This technology gives us anonymous exchange on market places and anonymous money (using something like dark wallet). Politicians will not like this but they will be powerless to stop it.
The world 10-20 years from now, because of these mechanisms, is going to be so unrecognizable to us that it’s going to blow our minds. It’s partly to do with technology, but it’s got a lot to do with economic liberation as well. The story of the Silk Road is a blueprint for economic global liberation – Kristov Atlas
5,000 Days of Orbital Colonization
In an anniversary that beautifully showcases the enduring greatness of man’s progress in space, yesterday marked the 5,000th day of continuous human habitation aboard the International Space Station – L. Lawless
Confirmed: Voyager 1 in Interstellar Space
Voyager 1 has entered a new cosmic realm.
The craft was launched in September 1977, about two weeks after its twin, Voyager 2. The probes embarked upon a “grand tour” of the outer solar system, giving the world some its first good looks at Jupiter, Saturn, Uranus, Neptune and the moons of these planets.
Like Voyager 1, Voyager 2 is still active and operational. It took a different route through the solar system and is expected to follow its twin into interstellar space a few years from now – Mike Wall
Achievable Developments in the Next 10 Years
I’m most excited about developments in the two areas that I’m pioneering: asteroid mining and the extension of the healthy human lifespan.
Through Planetary Resources, we expect to be identifying, prospecting and eventually mining materials from near-Earth asteroids well within this decade. This will create an economic engine that will propel humanity beyond lower orbit.
Through Human Longevity Inc, we will be creating the largest database of human genotypic phenotypic and microbiology data ever assembled and using machine learning to analyze it to truly understand disease and healthy aging. We feel we have the ability to extend the healthy human life by 30 to 40 years. For me, going to space and living longer — it doesn’t get better! – Peter Diamandis, Co-founder of Singularity University
Linear vs. Exponential Thinking
I’m currently 17 do you think I will see things such as life extension due the the eradication or management of Cancer, dementia, 3D organ printing etc within my lifetime? What are some technologies that seem way off to your average person that may become a reality within the next decade?
If you’re only 17, you will see a hell of a lot more than just life extension! You’re going to see colonies on Mars. You’re going to see us turn most everything we think of as science fiction today into science fact. We’re living during a time of accelerating change. Don’t think with your linear mind! Yes, we will solve cancer. Yes, we will solve dementia. Yes, we will start regrowing organs. All of this will happen faster than you can imagine.
I think the average person is a linear thinker and most of the extraordinary breakthroughs that will happen this decade will initially seem far off. Then, when the breakthroughs occur, they will take them for granted. So just think about artificial intelligence becoming your physician, or artificial intelligence becoming your personal tutor better than the best Harvard professor, or 3-D printing organs, or extending the human lifespan 30 years, or landing the first private citizens on Mars with in the next 15 years. These things all sound crazy until we make them happen – Peter Diamandis, Co-founder of Singularity University
30 steps linearly gets you to 30…30 steps exponentially gets you to a billion – Ray Kurzweil
Favorite Books & Inspiring People
I have three favorite books that have made huge changes in my life.
The first is Atlas Shrugged by Ayn Rand. It got me excited about the prospect of changing the world.
The second was The Spirit of St. Louis by Charles Lindbergh, which led me to the create the XPRIZE Foundation
The third is The Man Who Sold the Moon by Robert Heinlein, which was very much the inspiration for the Google Lunar X Prize and Planetary Resources
I definitely take inspiration from folks like Elon Musk, Richard Branson, Larry Page, Jeff Bezos — our modern-day mega entrepreneurs who are driven by their passion and changing the world – Peter Diamandis, Co-founder of Singularity University