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A 2-post collection

"All hail the dwindling race"

Written by Michael Earls
 bitcoin  prophecy  future  past

I wrote the following on April 14, 2000. I used to sit and speculate on what the world might look like in the future. Sixteen years later, and here I am, an "elder", watching the "youth" try to replace me and my peers. :)

ALL HAIL
the dwindling race, with it's sad ritualistic archetypes,
has finally met its match...
the digital revolution will undoubtedly evolve us
to the mature minds of the 21st Century.
With augmented skills and imaginary currency, we will operate this planet
using a unified touch to keep the place together
under an umbrella of peace, solitude, and balance.
Along the way, we will meet with decreased resistance
as the ancient ways cycle to another stage and the
elders finally give up their kingdom to the youth.
We must continue. The rapid pace of technological advancement
is just a smallpart of the system.
There is a deeper purpose beyond the version changes and the
service packs. We cannot get caught up in the noise of it all,
we must look beyond and grasp a task that will help
make the world a better place.

There seem to be two ways to get at it:
Do something that you enjoy and get paid for it
Do whatever they tell you and get paid for it
Whichever one you choose, ensure that it will make the
world a better place to live. Our population forecasts are giving us
ample warning. Y2K is over, we need to focus on what's next.
Our children live in a world where "education by chance" is a common
path through schools throughout the world .

Add this to the fact that children in almost every country in the world
have a greater chance to survive than ever before. Our technology
can help us meet disease with a cure. It can also fabricate our extinction.

I beg you to choose a road to compassion and integrity, the rewards
for each of us, especially you, are beautiful beyond words.

I have found that I need only two things to live a balanced life:

Love and Truth

Nothing else matters. Shatter the mold, we are too far ahead to
be molded and fired like clay. We are writing the next wave of systems
that is capable of far more possibilities than the elders ever dreamed possible.
We cannot let our youth be prevented from using it just because the chiefs cannot
understand it.

Give our children freedom from suffering!

Institutional Design and the Wisdom of Crowds + Cryptocurrency and the Fall of Wall Street

Written by Michael Earls
 bitcoin  cryptocurrency  enterprise 2.0

This is a great discussion on how Overstock.com provides all of their employees with the same dashboard and allows them to submit, collaborate, and vote on ideas to make the business better. The results are reported instantly to the leadership on their dashboards so that they can make decisions with better information. It allows the employees with the knowledge of day-to-day operations decide what’s best for the company.

It looks like they have been very successful in finding the most efficient way to do business.

The rest of the discussion gets into the corruption on Wall Street and how blockchain technology can be used to allow peer-to-peer trading, thereby eliminating the need for Wall Street and Central banks. What I learned from this portion of the talk disturbed me deeply. Finding out that no one owns the stocks in their portfolio and that it is all held by a single corporation is a bit scary.

That leads to what he describes as the “Deep Capture”, where the regulators of the market are themselves benefiting from the regulations they impose. And, that the journalists reporting on the economy are all heavily influenced by a few hedge funds with all the power. Plus, the politicians responsible for passing the laws that govern the regulators are also benefiting from the laws they pass. That’s my layman’s understanding of it. I’m sure it is deeper in scope than what I describe. It’s definitely worth reading.

Take a look at DeepCapture.com for a great education on the various ways people are having their money stolen by thieves on Wall Street.

The realization of how much actual trading is taking place versus the stock quotes taking place and the computers trading with each other at the rate of 10,00 trades per second makes me uneasy as well.

He mentions the “bezzle”, which is defined like this: Freeze time and ask everyone that has investments in the stock market how much they have, then look at the value of what is actually there. There is a huge gap in what people say they have versus what is actually there. This is called the “bezzle”, because that’s what people are embezzling from the system.

I am inspired to learn more about cryptocurrencies. While BitCoin may not be the standard in the future, I believe that it’s worth looking at. More and more companies are taking BitCoins as payment and many jobs are available that pay in BitCoin. It’s also defined by the IRS as property, so it is subject to capital gains tax.