1 Bitcoin = $264
Bitcoin vs. Government Money
In the 20th century 200,000,000 men were murdered by the State through it’s ability to create infinite amounts of money on printing presses.
The absolute and permanent destruction and replacement of the mass murder money of the State is the greatest cause any man can work for – Beautyon
Bitcoin: A Money Without Politicians, Bankers and Corruption
The collapse of the Euro and Greece’s problems make this idea very attractive.
All you need to do is have a phone or a laptop. Everyone has them. The seeds are already sown. All that is needed is the rain. It’s coming. – Beautyon
The Only Way to Freedom is Through Its Practice Here and Now
Every single transaction that takes place outside the nexus of state control is a victory for those individuals taking part in the transaction – The Dread Pirate Roberts, 2012
Governments try to ban bitcoin? LOL
The image below includes a signed bitcoin transaction transferring $12m USD.
US Dollar: The Fed’s 2% Inflation Target
The Federal Reserve right now is trying to ward off technological deflation by having a target 2% inflation rate a year.
Yet economists I have read peg technological deflation at around 3% to 4% a year presently.
When nanotechnology really takes off and prices plummet 75-80% and technological deflation goes from 4% to 10% and then possibly 20% a year or more what is the FED going to do?
Will we have a race between technological deflation and the “printing press?” A fight between two exponential functions-the singularity versus exponential inflation and debt! It’s absurd!
You can’t stop the acceleration of the fall in prices set off by the law of exponential returns by a tsunami of inflation and debt like they have been doing for the last 100 years. The Welfare state and its old failed neo-Fabian ideas are done. Rumpelstiltskin economics, the art of spinning worthless paper into a currency that is forever losing its value is over – C. James Townsend
I was motivated to start Shapeshift.io because I wanted to buy an altcoin a year ago and it was going to take a couple hours to do so. This is not acceptable. Digital assets should be immediately available & immediately liquid. So I tried to figure out how to make an exchange that didn’t have any of the time delay of a normal one.
Turns out, you don’t need accounts whatsoever to do exchange with cryptocurrency, so that’s what we built. We realized, happily, that ShapeShift was actually the most secure/safest exchange as well, because nobody had to leave funds on deposit. This makes it much safer for users, and vastly reduces liability/risk for ShapeShift – Erik Voorhees
The Coinomi Android Wallet
It’s a multicoin wallet, so you can hold a dozen different cryptocurrencies easily on your phone. Beautiful interface as well. Inside the app itself, there is an exchange function, which lets users convert between coins. This is done with the ShapeShift API and is a beautiful thing to see and experience.
We also foresee it being used by anyone who accepts Bitcoin on their site, to automatically accept all other altcoins as well (it’s no extra work for them, and opens up new markets of customers) – Erik Voorhees
World’s First Cryptobond has First Buyer
Overstock.com, Inc. (Nasdaq:OSTK) announced its CEO Patrick M. Byrne today made the first purchase of the world’s first cryptobond for $500,000.
“It’s not exactly Jonas Salk injecting himself with his polio vaccine, but I wanted to own the first cryptosecurity ever issued,” stated Byrne. “I intend to demonstrate my belief not just in Overstock, but in the TØ.com platform that we built and, indeed, in the cryptorevolution itself.”
* This pioneering event is part of Overstock.com’s larger cryptofinance initiative known as Medici, and uses the company’s own TØ.com platform. TØ.com is powered by the blockchain and the Open Assets protocol.
* Those who purchase cryptobonds through TØ.com will be able to track their ownership on the bitcoin blockchain
* Trades on TØ.com securely settle same day, as opposed to the customary three day settlement on Wall Street (referred to as “T+3″).
* Symbiont secures $1.25 million funding from financial industry heavyweights
* Symbiont is building on the Counterparty platform and employs the entire core Counterparty team.
* Counterparty’s XCP token surged 31% to $1.60
* Symbiont’s first Smart Security will be issued later this year.
Symbiont, which plans to use bitcoin’s underlying technology to make it quicker and cheaper to transfer assets between buyers and sellers, has won the backing of several financial industry heavyweights.
The company, according to a statement Tuesday, has raised $1.25 million from a group including former New York Stock Exchange chief Duncan Niederauer, former Citadel LLC executive Matt Andresen, and two co-founders of high-frequency trading firm Getco LLC, Dan Tierney and Stephen Schuler.
Symbiont wants to sharply reduce the time it takes for most trades to settle, thereby reducing the need for a bank or investor to have its own money tied up in back-office operations. This use of blockchain, a ledger-like technology that underpins the digital currency called bitcoin, could give buyers and sellers almost instant confirmation their trades went through while also creating an indefinite and immutable record of the transaction.
“The blockchain not only has the potential to democratize markets, but to drive down the cost of doing business across all sectors,” Mark Smith, co-founder and chief executive officer of Symbiont, said in the statement. “This is a once-in-a-generation opportunity to leverage this previously unimaginable technology.”
“Symbiont is bridging the gap between Wall Street and the emerging blockchain ecosystem,” Niederauer, once the CEO of NYSE Euronext, said in the statement. “It’s an exciting, timely and much-needed development for the long-term health of the markets.” – Matthew Leising
COMPANIES / PROJECTS / PRODUCTS
OpenBazaar Gets $1m Cash Infusion
Two of the biggest names in the venture capital world announced today that they’re getting behind a libertarian-themed tech project—a vote of confidence for an experimental enterprise that aims to facilitate free and “censorship resistant” trade. – Jim Epstein
Chris Dixon leads the investment for Andreessen Horowitz, and managing partner Brad Burnham does the same for Union Square Ventures. Both are investing $500,000 in this seed round, and are joined by angel investor and board member William Mougaywar, who is investing $10,000 – Rob Price
On OpenBazaar, everyone can host their own store and connect to a larger ecosystem. They’ll have control unparalleled in big stores, from which they can sell, buy, auction, lend, crowdfund, arbitrate, and even build new ways to do business – Patrick Howell O’Neill
The seed funding will be used to pay the developers so that they can work full time on the project and speed up development. The developers previously relied on bitcoin donations – Alyssa Hertig
The point of OpenBazaar is to remove the endless restrictions and high fees associated with currently available ecommerce sites and online payment rails. As lead developer Brian Hoffman put it, “The Internet has decentralized communications, and Bitcoin has decentralized money, but online commerce still relies on numerous intermediaries.” – Kyle Torpey
There is no central team of moderators who can reject certain products, services, or merchants. There is no ability for the OpenBazaar team to charge fees, track user data, or restrict trade in any way, which creates a completely new paradigm for online trade – Kyle Torpey
“Will there be illegal trade on OpenBazaar?” Hoffman asked. “We probably won’t know (unless everyone is told) because it’s encrypted and private and we certainly can’t stop it. We do feel however that non-darknet marketplace content will overwhelm that kind of stuff dramatically if we are successful.” – Patrick Howell O’Neill
It’s pretty mind-boggling that the most respected VC funds are backing a decentralized marketplace. Props to Brad Burnham for not avoiding the hard questions in that blog postannouncing the investment – Zooko
The purpose of OpenBazaar is to promote unfettered trade.
When I first interviewed him last December, Hoffman told me that he was inspired in part by getting to know his wife’s Iranian family. “It gave me a first-hand look at how hard it is for people to conduct any kind of online commerce across borders,” he said. “Just to get an iPhone in Iran is such an encumbering process.” – Jim Epstein
Here are its key characteristics:
* OpenBazaar removes the intermediaries and allows people to trade directly with each other.
* The OpenBazaar network is decentralized, and free to use.
* Because the network has no central point of control, there are no intermediaries to collect fees, monitor data, or restrict trade.
* The code is open source, allowing for permission-less innovation.
* OpenBazaar is available to anyone in the world; there are no geographical restrictions and it uses the global digital currency, Bitcoin.
As a platform, it consists of the following elements:
- The peer-to-peer network, i.e. its plumbing
- The trade protocol, i.e. the fundamental rules that govern a type of trade between peers
- The Client/App, i.e. what the users interact with to execute trades
The Funding is Being Used to Create OB1 Which Offers Services to OpenBazaar Users
While OpenBazaar is a non-profit project, the funds are being used to create OB1, a for-profit company that will build revenue-generating value-added services — such as shopfronts or escrow services — on top of the OpenBazaar protocol layer – Rob Price
Up until now, OpenBazaar’s programmers have been volunteering their nights and weekends, but that “wasn’t cutting it,” Hoffman says.
So the OpenBazaar team formed a for-profit venture called “OB1,” which is the direct recipient of the venture capital funding that was announced today. Hoffman says that OB1 will eventually provide ancillary services on the platform, such as hosting listings and arbitrating disputes between buyers and sellers for a fee. But until it has customers for these services, the company will focus full time on core development.
The biggest hurdle ahead will be enticing merchants to start selling their products through this decentralized marketplace. eBay takes about a 10 percent cut of every sale, while OpenBazaar is free to use. But there are network effects at play. The OpenBazaar team will need to convince sellers that a critical mass of customers will find their products if they list them on its experimental platform.
Hoffman says he hopes to raise more funding for advertising and promotion, and having the imprimatur of Andreessen Horowitz and Union Square Ventures should help with that considerably –Jim Epstein
If we fast forward into the future, I believe that the OpenBazaar promise has the potential to change how we conduct global commerce. Once the network and contractual infrastructure is in place, and via the strength of their community’s ecosystem, the possibilities are there.
From the get go, OpenBazaar has an unfair advantage. It will be the first large scale eCommerce network that is solely based on a single universal currency: Bitcoin.
I am excited to be participating in their inaugural round of financing alongside Union Square Ventures and Andreessen Horowitz, and humbled by the privilege of a first row seat into their amazing laboratory of innovation.
Given my previous history in eCommerce (I wrote the book Opening Digital Markets in 1997), running PeerIntelligence in 2001, and more recently via my Bitcoin and blockchain work, the OpenBazaar represents the ideal intersection of my three interests: ecommerce, peer-to-peer, and Bitcoin.
Please join me in wishing OpenBazaar and their community good luck as they take a leap ahead. Their ambitions are big, but so are the opportunities ahead for them, and for the future of global commerce – William Mougayar
How to Make Money on OpenBazaar
There’s a ton of ways to make money on it. Just think about it for a few minutes and you’ll see all the businesses that can pop around it.
My first business around openbazaar is about letting people that have no desire in setting up and running a p2p node, if all you want is to start shopping or selling, you just fire up a node in the cloud with http://www.provistor.com
We basically allow you to run OpenBazaar in a couple clicks on the cloud.
So hosting is one business.
Reputation, store reviews, centralized catalogs, professional escrow services, call centers to assist stores, delivery services, improved search, advertising, you name it, this thing is a whole new industry. Billions to be made. Just look at all the ways Amazon makes money, and start giving that to multiple parties.
PRIVACY / SECURITY / INTERNET
The Greatest Weapon of Oppression in the History of Man
The government’s motives are reflected in its symbols. Here’s a sampling:
* The NSA bird holds a key to unlock everything that is not public – in other words, what is private is the government’s business. Know It All. Collect It All. Exploit It All.
* The Earth-sucking octopus represents one of a fleet of NROL surveillance satellites.
* Total Information Awareness is a program set up years ago that had the same agenda as the dystopian film Minority Report: arrest people before they commit a crime. The sinister inspiration for the Total Information Awareness logo is echoed on the one dollar bill, which features the all-seeing eye of God.
Symbols of mass surveillance
Understanding the motives helps us see every justification of mass surveillance for what it really is – a veiled threat: If they don’t do it, terrorists will kill you. Terrorism, the mortal danger to civilization which kills fewer people than autoerotic asphyxiation, bathtub falls, toddlers, and lightning.
Mass surveillance equals perpetual uncertainty. No matter how honest and benevolent you consider the current American government, no one knows what laws a future regime will impose.
The highest profile shills for mass surveillance are the usual suspects: politicians and mega-corporation execs who have the most to gain. Former U.S. Senate majority leader Trent Lott: “What are people worried about? What is the problem? Are you doing something you’re not supposed to?”
I was in Amsterdam when the Snowden story broke. CNN was non-stop asking politicians and pundits, “Is Edward Snowden a traitor?” Those who said he betrayed America also said something else: Mass surveillance is only an issue if you’re a criminal. If you’ve got nothing to hide then you’ve got nothing to fear.
To apologists of mass surveillance, what did Anne Frank have to hide?
Walking from Anne Frank’s Secret Annex into CNN’s nothing-to-hide mass surveillance chorus provided a rare moment of clarity in my life. Her father’s disclosure a decade earlier of a single piece of data, their religion, destroyed his family. The disclosure was a legal requirement to be issued a passport.
Otto Frank never would have disclosed his family’s religion had he known it would lead to the murder of his loved ones a decade later. His family would have fled Germany and attempted to illegally immigrate elsewhere, as millions have done throughout history.
After examining the Frank family passports in the Secret Annex, it later struck me how much more information is extracted by the US census and annual American Community Survey. Where were you born? Are you “Black, African Am., or Negro?” Are you Pakistani? Latino? Are you unemployed? What is your profession? How much money do you make? Do you own or rent? How much do you spend on utilities? Who lives with you? Do you have children? How well do you speak English? Do you speak another language at home? What is your marriage status? Have you been divorced? Where did you go to school? Have you been employed by the U.S. military? Which wars did you fight in? And on it goes…
Living under mass surveillance is living with a noose around your neck.
Millions of Americans today are caged and millions more are on probation or parole. The “land of the free” is the most imprisoned nation in the world on both a total and per capita basis. The prison-industrial complex is booming. New prisons are being built every day. Prosecution isn’t a constraint either since only a handful of cases see a trial.
You can’t know what circumstances will cause you to hang. History is loaded with never-saw-that-coming catastrophes. The 20th century alone is an inconceivable horror – 262 million corpses engulfed in various government wars and genocides. That’s equivalent to every single adult living in America today suddenly perishing.
All the nightmare regimes of the past that kids study in school predate the era of computerized mass surveillance. The ability to lock down people’s lives instantly… to track them, analyze them, trap them, financially paralyze them, impersonate them, frame them, and apprehend them is unprecedented.
Governments always seek to control the governed, but mass surveillance is the most powerful weapon of control ever devised. Because of its novelty, invisibility, and deep complexity, many people can’t comprehend its implications and therefore don’t defend against it.
Mass surveillance is a silent, invisible weapon. The only time you’ll actually feel immediate danger is when it’s too late – David Montgomery
Australian academics who teach mathematics may need to run new ideas by the Department of Defence before sharing them or risk imprisonment.
From November 2016 Australian academics could face a potential 10-year prison term for sending information overseas if their ideas fall within the Defence Strategic Goods List (DSGL).Put another way, they could be jailed for delivering online course material to foreign students or providing international peers with access to a server hosting that material.
The laws are intended to prohibit the transfer of knowledge from Australia that could be used to produce weapons.
Academics like Kevin Korb are nervous that “overly broad” definitions in the DSGL could land them in court for teaching cryptography, high performance computing, image and signals processing and a number of other fields.
To avoid penalty, researchers may need to report newly hatched lines of inquiry to DECO (Defence Export Control Office).
“You will be coming to us and we will be working with you,” a DECO officer recently explained to academics. “When your ideas aren’t necessarily that formed, it may be that we say to you, ‘Look, at the moment we don’t see any concern, come back to us at a further stage’.”
Korb, an artificial intelligence researcher at Monash University’s Information Technology faculty, said the new restrictions will “suffocate” research. “Researchers and students are already leaving or avoiding Australia,” he told Fairfax.
“What is likely to happen is that Australia becomes isolated as the research and the researchers move elsewhere. No one wants to work somewhere where there’s totalitarian-like controls on thought,” renowned US cryptographer Bruce Schneier told Fairfax. – Liam Tung
Subversive Math in Venezuela
“Benjamin” never intended to run a pirate website.
But every time the South Florida resident sits down at his computer to publish information about exchange rates in his native Venezuela, he has to carefully cover his tracks so no one can trace his IP address. That’s because publishing the black-market exchange rate in Venezuela is illegal and considered an act of subversion by the socialist government of Nicolas Maduro.
“They’re accusing us of waging an economic war against the country,” said Benjamin, who asked me not to use his real name to avoid retaliation against his family in Venezuela. “If they knew who we were, they could threaten my parents, my uncles, my cousins, my family in Venezuela. It’s a delicate issue because when you’re dealing with a government that makes up conspiracy theories and weird stories, you don’t know what they’re capable of.”
Benjamin says he needs to be careful even in Florida, because the Venezuelan government has a long reach. “I wouldn’t underestimate Venezuela’s intelligence services,” he says.
But concerns over safety haven’t stopped Benjamin from doing his work. On his website, Dolar Today, he publishes Venezuela’s unofficial exchange rates several times a day.
That information has become a source of empowerment in a country that imposes strict controls on exchange rates and information.
“The government doesn’t like it when we publish the price of the dollar,” Benjamin says. “But I can see why; they are making all sorts of efforts to make people believe that everything there is alright.”
Now, as the dollar trades for 410 bolivares in the black market — opposed to the official rate of 6:1 — Dollar Today’s posts are becoming a source of increasing embarrassment to the Venezuelan government. The site is essentially reminding Venezuelans how life has become increasingly unaffordable under that country’s socialist management.
“Sooner or later we will have those bandits behind bars,” President Maduro said in a recent, nationally televised speech. “All of those bandits from Dolar Today who wage economic war against Venezuela from Miami.”
In April the president said he was planning to ask Obama to hunt down the website’s management and extradite them to face charges in Venezuela — although there’s no indication Maduro followed through on his threat – Manuel Rueda
The computer revolution is going to keep going. Moore’s Law has a lot of steam left in it. You might be hearing that Moore’s Law is going to fall off a wall… well, maybe there’ll be some fluctuations, but it’s going to keep going – Ralph Merkle
Moore’s Law Marches On: Breakthrough Puts 10-Nanometer Chips Within Reach by 2017
A Japanese research consortium has achieved a breakthrough in chipmaking technology that could boost semiconductor performance while significantly reducing production time.
The consortium, called the EUVL Infrastructure Development Center, or Eidec, has developed a highly sensitive resist for use in extreme ultraviolet (EUV) lithography, a cutting-edge method for producing semiconductors.
The new material will reduce lithographic exposure time and allow chips to be produced 10 times faster than with conventional EUV technology.
The breakthrough also has major implications for chip performance.
Chips in the 7-10 nanometer class would boast a 100-300% increase in processing capacity over conventional chips. This would allow people to use their smartphones to send and receive 4K video, which has a resolution four times greater than full high-definition.
The capacity of memory card could also be significantly increased, with just one SD card capable of storing several terabytes of data.
The consortium plans to advance its EUV research in cooperation with Intel, Samsung Electronics, and the world’s largest chip foundry, Taiwan Semiconductor Mfg., or TSMC.
These chipmakers are looking to use EUV lithography to mass-produce 10-nanometer-class chips by 2017 and 7-nanometer-class chips by 2019 – Kotaro Hosokawa and Masahide Kimura
An Asymptote Toward Zero
The event horizon of a coming economic singularity where all prices drop down an asymptote toward zero as technology advances exponentially.
As ephemeralization escalates, as we can do “more and more with less and less until we can do almost anything with practically nothing,” as Buckminster Fuller stated, old technology, old energy sources etc slowly vanish – C. James Townsend
* Cost of digital processing, storage and bandwidth all crashing to price point of $0 (Oracle Sales Erode as Startups Embrace Souped-Up Free Software)- Max Keiser
* Things getting cheap = we becoming rich – Max Roser
* Under a deflationary, i.e. free-market, monetary system, all prices would look like this – Rothbardian
Milestone: Solar Now Produces Over 1% of Global Electicity
Half way through the genome project, 7 years into a 15 year project we had finished 1 percent. And the critics that were in the main stream said “I told you, this is going to take 700 years.” My response was “no, we are almost done, 1% in a geometric progression is only 7 doublings from a 100%.” And indeed it continued to double every year and was done 7 years later – Ray Kurzweil
The Singularity vs. The State
Plato’s cave is our status quo and we sit in our chains and are mesmerized by the pretty pictures on the wall. It is high time humanity grew up and finally left the cave.
No matter what the political state and its crony’s do, or try to do, they will fail as more and more individuals unite to help bring about the coming economic and technological singularity.
How can you regulate or ban such things as guns when you can print an entire AK 47 at home on a 3D printer?
Or because prices have dropped so low that you can have a fully equipped bio-lab in your garage how then can you suppress say an antiaging technology or a cure for cancer?
The techno-libertarians, techno-progressives and Transhumanist’s are becoming a force to be reckoned with (though I am concerned with the influence of technocracy among many Transhumanist’s) and if the political state moved to ban such things as Uber, Lyft, Airbnb etc you would have a riot on your hands and it is only going to get worse for the State.
I think more and more neo-leftist’s are going to wake up and realize with the Libertarians, that Statism is an old failed religion and that their empowerment and freedom will truly come from the evolutionary forces released by the Technium.
The left-wing Hegelian’s foresaw that the State was destined to wither away and a new holographic system, a holoarchy, would arise that would allow individuals to perfect themselves and to become the best they could be in a social and economic structure that gave them the time and abundance to do so.
If the techno-libertarians have taken up this course of action because we on “the left” have ignorantly abandoned it, then that is to our shame. We will have to play catch up and join them on the evolutionary journey to a new earth, one in which the arising Noosphere, the Global Brain, has fully evolved and the present order has been transcended.
I truly believe that the political State’s days are numbered, especially as profits and prices drop as technological deflation accelerates the emperor will be seen by more and more people to be naked and standing in their way to the fuller life they wish to live.
The coming singularity is already showing us that the locus of power is shifting back to individuals united and interrelated in a new distributed network system. We have to have faith and trust in this new arising paradigm and complex system and help it along, to be its midwives, but instead I see too many people manipulated and moved by ideological fearmongering to prop up the old order and its outmoded ideas.
The old order has no answers for us and no solutions; in fact it has caused all of our problems that we are now dealing with.
I think in the end it may very well wither away from disuse as more and more people leave it alone and turn to technological solutions and innovations to solve their and the world’s problems as A.J. Galambos theorized that we would finally learn to invent the technology that will give us the ability to have absolute liberty and freedom. To be in total possession of our primary property, which are ourselves, and all of our creative talents. – C. James Townsend
Follow me on Twitter @leebanfield1