Lifeboat Foundation

After having been given $1,000 by his grandma at only 13-years-old, Erik Finman, now 17, made the risky decision to invest in the notoriously volatile Bitcoin market.

When he was 15, only a year and a half later, he liquidated his Bitcoins, making a cool $100,000. He’s now crowdfunding his very own VR headset. He has been featured in Time Magazine, Mashable, CBS News, Business Insider, The Times, BBC, and more.

Continue reading “Teen Makes $100,000 Through Bitcoin, Crowdfunds VR Headset” »

A cryptocurrency entrepreneur launched a blockchain religion. Absolutely no one is surprised.

I get this question a lot. Today, I was asked to write an answer at Quora.com, a Q&A web site at which I am the local cryptocurrency expert. It’s time to address this issue here at Lifeboat.

Question

I have many PCs laying around my home and office.
Some are current models with fast Intel CPUs. Can
I mine Bitcoin to make a little money on the side?

Answer

Other answers focus on the cost of electricity, the number of hashes or teraflops achieved by a computer CPU or the size of the current Bitcoin reward. But, you needn’t dig into any of these details to understand this answer.

You can find the mining software to mine Bitcoin or any other coin on any equipment. Even a phone or wristwatch. But, don’t expect to make money. Mining Bitcoin with an x86 CPU (Core or Pentium equivalent) is never cost effective—not even when Bitcoin was trading at nearly $20,000. A computer with a fast $1500 graphics card will bring you closer to profitability, but not by much.

Continue reading “Extra PCs laying around? Why not mine Bitcoin?” »

Some market observers worry the solutions to problems the new technologies offer might become the causes of other problems. With AI gathering steam and large amounts of data flowing to empower machine learning, how to protect privacy in a region where the use of personal information is loosely regulated has become a pressing question.

Filing taxes using blockchain in Indonesia. Growing better crops in Vietnam with artificial intelligence. Sending rockets into space in Singapore. Southeast Asia is quietly emerging as a breeding ground for new technology.

By Coco LiuResty Woro Yuniar

Continue reading “Is Southeast Asia the next Silicon Valley?” »

The attack on Rockport is one example in a rising tide of similar invasions of municipal systems across the U.S.—from major cities like Atlanta, which got hit in March, to counties, tiny towns and even a library system in St. Louis. Local governments are forced to spend money on frantic efforts to recover data, system upgrades, cybersecurity insurance and, in some cases, to pay their online extortionists if they can’t restore files some other way.

Hackers are targeting small towns’ computer systems, with public-sector attacks appearing to be rising faster than those in the private sector. Online extortionists demand bitcoin ransom in return for decryption keys.

It seems that Microsoft isn’t done experimenting with blockchain technology.

Microsoft and Ernst & Young (EY) announced the launch of a blockchain solution for content rights and royalties management on Wednesday.

The blockchain solution is first implemented for Microsoft’s game publisher partners. Indeed, gaming giant Ubisoft is already experimenting with the technology.

Continue reading “Microsoft launches ambitious blockchain project to help creators get paid” »

Early adopters, speculators and Geeks are never sufficient to bring a new paradigm to market. Mass appeal and adoption of a mechanism that requires education and a change of behavior is never ‘fait accompli’—until it reaches a tipping point. Once at the tipping point, it can go viral without a structured PR campaign and with risks tied only to technology and scalability.

Continue reading “What will it take for Bitcoin to be widely adopted?” »

The question was asked of me as columnist at Quora.com: Will governments eventually ‘approve’ of cryptocurrency? First let’s agree on terminology…

1. By “approve”, I assume that you are asking if governments will adopt or at least tolerate the use of crypto as legal tender in commerce. That is, not just as a payment instrument, but as the money itself—perhaps even accepting tax payments in cryptocurrency.
2. The word “cryptocurrency” is sometimes applied to altcoins and even to ICOs. These are not the same. Many altcoins meet the criteria of the next paragraph, but none of the ICOs measure up (ICOs are scams). I assume that your question applies to Bitcoin or to a fair and transparent altcoin forked from the original code, such as Bitcoin Cash or Litecoin.

A blockchain-based cryptocurrency that is open source, permissionless, capped, fast, frictionless, with a transparent history—and without proprietary or licensing restrictions is good for everyone. It is good for consumers; good for business; and it is even good for government.

Of course, politicians around the world are not quick to realize this. It will take years of experience, education, and policy experimentation.

Many pundits and analysts have the impression that shifting to cryptocurrency—not just as a payment instrument, but as the money itself—will never be supported by national governments. A popular misconception suggests that a cryptocurrency based economy has these undesirable traits:

Continue reading “Will governments ever approve of cryptocurrency?” »

What would you do if you were a 19-year-old kid with $3.3 million? There are few people more equipped to answer that than teenaged bitcoin millionaire Erik Finman. His answer? You use some of that cash to build a Doctor Octopus-style exosuit and try and shake up the education system.