Lifeboat Foundation

John Oliver is a crossover who bridges the art of a comedian with the reporting and perspective of a liberal political pundit. Even detractors acknowledge that Oliver addresses serious issues with unusual wit and humor.

I never thought Oliver could (or would) tackle the topic of cryptocurrency—at least not with value to the viewer. It is too geeky, and too esoteric. (It also cuts into my mission of evangelism and education). smile

He did, and he sparkles! Feel free to jump past the fluff. The Bitcoin tutorial starts at 3:40. Of course, my friend, Shechter, in Long Island New York will bust a gut over what Oliver says at 9:40. It is not only clear and concise, it is accurate and terribly funny!

Whether you are a Bitcoin newbie or a seasoned blockchain coder, this is the video you have been looking for. This one is durable.

Continue reading “John Oliver explains Bitcoin, Blockchain & Crypto (with precision & clarity)!” »

Today, I was asked to answer this question at Quora:

“What sets each cryptocurrency apart from the others?”

“Cryptocurrency” is a broad term. It refers to payment coins, of course—such as Bitcoin and Litecoin. But, because most tradeable tokens attain an asset value, the word is often used to refer to smart contract devices, such as Ethereum, a host of other blockchain based tokens, functional Internet-of-Things tokens, and even ICOs (Initial Coin Offerings). Since people treat ICOs and IOT tokens as investment instruments even if they are useless as a payment mechanism, they all fall within the realm of a cryptocurrency.

So, before addressing the question, let’s distinguish between Altcoins and ICOs. I assume the question refers to Altcoins, and not ICOs…

Continue reading “What sets cryptocurrencies apart from each other?” »

A new section about Bitcoin ATM business models
has been added. Jump to “UPDATE – July 2019”

The good news is that building a Bitcoin ATM is easy and less expensive than you might expect. But, offering or operating them engulfs the assembler in a regulatory minefield! It might just be worth sticking to selling bitcoin on PayPal (visit this website for more information on that). You might also wish to rethink your business model—especially user-demand scenarios. See our 2019 update at the bottom of this article.

A photo of various Bitcoin ATMs appears at the bottom of this article. My employer, Cryptocurrency Standards Association, shared start-up space at a New York incubator with the maker of a small, wall mounted ATM, like the models shown at top left.

What is Inside a Cryptocurrency ATM?

Continue reading “Building a Bitcoin ATM is easy, but…” »

Legacy Method of Inheriting Assets

Many Bitcoin owners choose to use a custodial account, in which the private keys to a wallet are generated and controlled by their exchange—or even a bank or stock broker. In this case, funds are passed to heirs in the usual way. It works like this…

An executor, probate attorney, or someone with a legal claim contacts the organization that controls the assets. They present a death certificate, medical proxy or power-of-attorney. Just as with your bank account or stocks and bonds, you have the option of listing next of kin and the proportion of your assets that should be distributed to each. These custodial services routinely ask you to list individuals younger than you and alternate heirs, along with their street addresses, in the event that someone you list has died before you.

Of course, Bitcoin purists and Libertarians point out that the legacy method contradicts the whole point of owning a cryptocurrency. Fair enough.

Continue reading “What happens to your Bitcoin if you die or forget passwords?” »

First, let’s get some basics out of the way…

What is Transaction Malleability?

Here are 2 explanations of transaction malleability: [Coindesk] [TechTalk]

In a nutshell, Transaction Malleability is a weakness in the original Bitcoin implementation that enables a bad actor to change the unique ID of a bitcoin transaction before it is confirmed on the Blockchain. Such a change makes it possible for someone to pretend that a transaction didn’t happen, if all necessary conditions are in place.

Continue reading “Have there been successful Transaction Malleability attacks?” »

5G is almost here — and it’s going to be incredible.

In the course of the last century, science fiction has been a harbinger of things to come. From the automatic sliding doors of Star Trek to visual communication, cyberspace, and even the moon landing, many of our present technological achievements were dreamed up in the futuristic visions of science fiction authors of the 1960s and 70s. Indeed, the fantastical world of science fiction, while not intended to be prophetic, has ended up acting as a blueprint for our modern world.

We have learned from science fiction not only the possibilities of technology, however, but also its irreconcilable dangers. Readers of the genre will recognize the many stories warning us of the hazards of space travel, mind enhancement, and artificial intelligence. These fictional accounts cautioned that if we were not careful, our freedom to transform the world around us would transmogrify into a self-enforced slavery.

Nonetheless, while many of us remembered that these were just stories, intended as speculations about a possible future—in other words, they were fiction before science—through them, we became used to the idea that any advanced technology was inherently dangerous and its use always suspect. Moreover, it became a commonplace idea that technologies whose aim was to change or transform the human being—whether genetic, biological or reconstructive—would lead to a future worthy of Mary Shelley’s Frankenstein.

For all those people wandering around our great Australian cities and spewing they can’t watch a streaming video over 4G because of network access and congestion — we’ve found a place where you can get access to a brand new 4G network that isn’t being hammered. The downside — you’ll need to travel about 384,000km to get there. Nokia and Vodafone are teaming up to put 4G on the moon.

German company PTScientists is planning the first privately-funded Moon landing in 2019, using a SpaceX Falcon 9 rocket from Cape Canaveral. Their plan is is to look at an old roving vehicle left behind back in 1972, when the last Apollo mission left the lunar surface. And, to do that, the new vehicles they’re sending up small, 1kg, base stations to transmit HD images from the moon’s surface back to earth for the first time. Audi is building the vehicles that will be used on the lunar surface.

Nokia said “The 4G network will enable the Audi lunar quattro rovers to communicate and transfer scientific data and HD video while they carefully approach and study NASA’s Apollo 17 lunar roving vehicle that was used by the last astronauts to walk on the Moon”.

In the store

Scientific American

Scientific American Volume 318, Issue 3

Continue reading “The Untold Story of the Women Who Made the Internet” »