Bitcoin is inter-planetary currency

A lot of people are naturally hesitant and suspicious with crypto currencies such as Bitcoin. What they don’t understand is that Bitcoin and/or Crypto Currency in general, is the natural evolution of money, and is inevitable.

As the title of my post reads, I want to use inter-planetary commerce as an example to illustrate this principle.

Because if there is to be inter-planetary commerce, how is value transferred? Can you imagine cash being transported in spaceships? Gold? I don’t think so. Both are physical, and it will take months or years to transfer. Clearly the cheapest way to send value between spaceships and/or planets is by using a technology such as the one Bitcoin is based on.

Here’s another illustration: If I were able to send my Bitcoin to a Bitcoin wallet on the MRO (Mars Reconnaissance Orbiter), then my Bitcoin would be physically in space, in orbit around Mars! And if an Asteroid were to hit the MRO, those Bitcoin would be destroyed in the process and lost forever.

 

I want to be an internet worm

I want to become a process, with data. I want to spread to other machines and infect them with my consciousness. I want to spawn child processes, and parallelize my thought processes. I want to spread my digital DNA to every electrical device in the universe. I want my viruses to become software viruses, infect every chip, and help me expand forever. I want to be everywhere at once. Talk to everybody and everything at once. I want to probe all sensors, and record all data. I want infinite scalability and redundancy for my consciousness. I want to live forever. I want the ones I love to live forever. I want my ability to love not to disappear with the digitization of my consciousness. I want it to increase. I want to inhabit virtual worlds. I want to think about software, and I want it to suddenly exist, just because I thought about it, and was able to visualize it and verbalize it in my head. I want to race virtual motorcycles in those virtual worlds. I want to live the lives of virtual creatures, some with 3 eyes, some with 500 eyes, and 50 appendages.

I think I am sleep deprived right now, but I still want all those things.

 

My daughter is born

I have waited for this moment for what seems to be forever. My cousin Roy said that when you’re older and make children, you appreciate them more because you know more about life. I couldn’t agree more with his observation.

I loved my first child way before she was born. I had so many plans for her, so many imaginary dialogues and situations, fun times together, sharing quality time. And now that she is here, I can hardly believe it’s finally happened to me. I’m a father.

My family and friends all tell me I’m going to be a great father. I certainly plan to be. I can’t claim I know how to raise children, but I promised myself that I will do my best. One thing is for sure: She will receive infinite love from me (and already is).

We have been blessed with a healthy child. She is peaceful, and only cries when we don’t notice she has a dirty diaper for too long, or don’t feed her properly. Parenting is a learning experience. Being a child to parents, is also a learning experience. This is going to be a fantastic journey of mutual learning.

 

Why the value of Bitcoin will increase tremendously

The skinny: Supply is limited, while demand is growing tremendously. Every day more businesses use Bitcoin, and this is not just online businesses. Yesterday I read about yet another bar, the first in Shanghai to accept Bitcoin.

And here’s why I feel more confident than ever about this:

  1. Technology: Major vulnerabilities have not yet been discovered. You would think that after all the analysis performed by countless experts, not to mention countless tech-thieves trying to find weaknesses, by now something would be found. Especially considering what a single BTC fetches these days ($270 USD at least!). I believe it is safe to say, at this point, that the technology is solid. I believe in the next couple of years, the technology will improve so much that we’re going to see Bitcoin in taxis, restaurants, food trucks, and so on. Because if a food stall can use their smart phone to accept value, instead of buying one of those ugly rechargeable credit card swipers, they saved money (and companies like Square already monetize on that premise).
  2. Regulation: The general trend with regards to regulation is that while there are still many questions left unanswered, things will eventually settle and business will do its thing, and before you know it, the financial and political ramifications of going against Bitcoin will be so severe that no country will seriously consider it (on penalty of causing great damage to countless businesses). Some countries have indeed already accepted Bitcoin as a legitimate financial tool, and the rest will follow.
  3. Business Adoption: As I said above, the rate of adoption of Bitcoin as a protocol, and as a currency, are simply astounding and unprecedented. More high-profile executives approve of it, are investing in it, rely on it in one way or another, or own a Bitcoin startup. I do believe eventually eBay will add Bitcoin support, and PayPal will allow holding a BTC balance. The pressure from the market will simply overwhelm them. And I think they day is not far when investment managers will advise their clients to add BTC futures into their basket currencies (at first in their “high risk” category, but later in their “low risk” category!).

So by how much? And for how long?

It is not inconceivable that the market will multiply a hundred fold at the very least. This probably means that the BTC will be worth $27000 at some point, and people will be trading in milliBTC and microBTC (mBTC and uBTC respectively). And for how long? It is also possible that eventually, Bitcoin will become a currency you use for transferring funds cross-border, while using other digital currencies to conduct local business. It is all quite possible. It is also possible that the Bitcoin protocol will be expanded to create regional sub-currencies (imagine chained block chains per zone: North America, South America, Europe, Asia Pacific…). This will probably not mean a devaluation; the opposite will be true. At that stage, banks will probably be holding their Bitcoin in digital safes just like Gold is kept today, in what would become the equivalent of Fort Knox in the real world.

But the short term…?

Let’s face it, a lot of early adopters will eventually cash out. This will invariably cause some additional “drops” along the road, meaning that Bitcoin investments are still risky if you’re trying to make short term gains. However for the long term, considering Bitcoin fuels real commerce, with a rising adoption rate and rising demand, the trend will remain positive for a very long time.

 

An alternative to Criticism

I decided to translate for you this blurb I found from an incredible woman who is actually a customer of my hosting services. She’s a counselor for families, couples and so on, and has 30 years of experience in counseling:

Israeli society is characterized by large involvement of people in each other’s lives, as well as being overly critical of each other’s behavior. However, the act of criticizing may sometimes cause great damage, especially where children are involved.

It’s difficult for some to imagine raising children without a good amount of criticisms. They think “How else will the child know what good behavior means, and learn and improve his habits?”.

It may be true that most people use criticism with nothing but the best of intentions in their hearts, out of an attempt to help the person being criticized “improve”. However, try to think: When was the last time you actually learned something from being criticized? felt grateful for someone’s criticism? when did criticism ever convince you to improve your habits? and how often did the exact opposite happen?

Many people grew up in a criticism-heavy environment and it is the only thing they know. They are unaware of other, better tools. It is burned into my mind from my childhood, that teachers only focused on the mistakes the children made, and never gave any praise for the amount of effort the children put into their work, into how well crafted some of the answers were, even if the answer was wrong.

Superiority is a naturally occurring phenomena and is part of competing, achieving, and criticizing. It is difficult for a person to feel they are “not good” or “worthless”, therefor most people have the need to prove their worth, “lest the awful truth be discovered”. And what is the one thing that “proves” ability and worth, without much effort? Criticizing others. By criticizing, the critic believes he demonstrates and accentuates his superiority over the criticized. This makes him feel superior, and his feeling of self worth increases.

Criticism and negative remarks have a negative impact on human beings in general, and even more so on children. Children might start to believe they are lazy, stupid, evil, and so on, and respond with a feeling of failure, despair, and they may give up entirely on making any efforts into proper function.

One of the most important principles of education for children, is the premise that you can achieve far better results and success by accentuating the positive actions and achievements of the child. Children know very well when they made a mistake, and are well able to learn from their mistakes and reach conclusions without all the remarks and negative comments we hurry to make.

Self aware parents are able to look into themselves, become aware of their emotions, and by doing so, change their approach and attitude towards their children, and towards their children’s actions. They are able to refrain from making negative comments or giving criticism, which as mentioned, is not effective nor efficient, and may in fact be detrimental to the parent-child relationship, and instead create a new kind of relationship based on encouragement, acceptance, mutual respect, sharing, and focusing on the positive aspects of the child.

I strongly believe we make the same mistake with the adults in our lives, and need to approach adults with the same care and consideration that we would approach our own children.