KEVIN WERBACH is a professor at the Wharton School, University of Pennsylvania, and the author of The Blockchain and the New Architecture of Trust. Follow him on Twitter @kwerb.
An introduction to by Johannon Ben Zion candidate for President of the US Transhumanist Party.
US Transhumanist Party candidate for President, Johannon Ben Zion has a futurist new deal for America. This concept stoked my interest when I was listening to the debate between all of the US Transhumanist Party candidates. I wanted more information on this concept and Johannon Ben Zion was kind enough to forward this information to me.
David Marcus has written a post intended to give “clarity” to the critics of Libra, the blockchain network Facebook is trying to seed.
First, to those who say the system is not really decentralized: “We totally get the point,” Marcus wrote in the July 3 post. “But it was important to start with trusted entities that could operate in a regulated environment and with the operational expertise required to ensure the integrity of the network in its foundational stage.”
He reiterated that “we’re committed to gradually transitioning to a permissionless state in the years to come,” and added that in the meantime, “I’d argue that one hundred geographically distributed, industry-diverse organizations is quite decentralized.” ( There are only 28 so far, however.)
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This video is an interview of Dr. Aubrey de Grey @ SENS on July 17, 2019. My wife, Lauren Nally, was our camerawoman.
Continue reading “Brent Nally interviews Dr. Aubrey de Grey @ SENS on July 17, 2019” »
This post is structured as a question-&-answer. That’s because it was originally an answer at Quora, a Q&A site at which I am a Bitcoin columnist.
What is a ‘Paper Wallet’
A paper wallet is the ultimate offline wallet. It simply means that the private address to your crypto wallet is printed on paper — either as a string of characters, a QR code, or a series of seed recovery words.
If you destroy any electronic copy of your original wallet (e.g. the private keys that give you access to your wealth), then hiding this piece of paper is very similar to hiding a bar of gold. The only way that someone can steal it or know the amount it represents is to get their eyes and hands on something physical. They would need to know that you tucked it into your mattress or behind a secret panel of your cellar wall.
Continue reading “What is a ‘paper wallet?’ Do I need one?” »
This afternoon, an automated bot at Quora suggested that I answer a reader question. Quora is essentially an “Ask the expert” web site. It is the world’s largest, cataloged and indexed Q&A repository.
This is the question I was asked to answer:
Some pundits believe Bitcoin is a fad, while others seem to feel that it is better than sliced bread. I like sliced bread.* Is Bitcoin really that cool? —Or is it just a lot of Geeky hype?
One other columnist answered before me. Normally, I pass on an invitation, if a question has already been answered. But in this case, the individual answering the question has yet to see the light. He has wandered into the Church of the Blockchain, but he just didn’t realize that the man sweeping the floor is the prophet.
Continue reading “About the Fuss: Is Bitcoin really important?” »
Here is another economics/policy question that I was asked to address at Quora. It provides great fodder for a quick Lifeboat economics review.
The US used quantitative easing to deal with one monetary crisis, and a bailout of the automotive and banking industry to deal with another. If nations, economies or individuals begin to embrace a decentralized currency, they will inevitably shift away from government issued money. Won’t this hinder a nation’s ability to intervene in a crisis?
Answering this question goes to the very heart of the ethics and politics of cryptocurrency.
Yes. Without centralized control over monetary policy, government options for intervention in a money crisis would be severely limited. But this fact may lead to a false impression…
Continue reading “Does decentralized currency thwart crisis intervention?” »
I find it encouraging that so many people want to know if they should get into Bitcoin. But, I am discouraged when I discover that “getting into” is a euphemism for investing, trading, flipping or HODL (Buy, then hold on for dear life).
Sure, Bitcoin is deflationary. If widely adopted, it is likely to increase in value. But adoption is being thwarted by traders. Today 95% of cryptocurrency transactions are by individuals or organizations buying or swapping cryptocurrency rather than using crypto to buy apples, a new car, or a family vacation.
Many people consider Bitcoin to be risky and not just as an investment! They think its risky to use a payment instrument. The perception of risk is associated with its widely fluctuating exchange rate. In the end, the exchange value won’t matter at all, because Bitcoin will be the money and not the dollar, yen, euro or pound. But, unfortunately, even though the argument for widespread adoption is compelling, it will not occur while we continue to see spikes and plunges on a graph.
Continue reading “Profit from Bitcoin with out Investing or Trading” »
An advocacy group is testing out the idea that the combination of bitcoin and orbital communication can help fight news censorship.
