I couldn't find a way to squeeze this in without making the post overly long, but I found it interesting that in modern times, we've discovered that silicon and lead aren't that far away from each other! Both are in the same periodic group: Carbons.
I love the premise of the article! Unfortunately, from and information security standpoint, cryptocurrencies are still vulnerable to the exact same threats you mention when you have "a system that stashes actual money secretly on your disk drive". In fact that is exactly where the private keys associated with those bitcoin transactions are stored (on your phone, hard drive, etc.) The actual blockchain transaction records may be very secure, however the private keys associated with your bitcoin wallet(s) must also be protected. This is the weak link in the chain, and what makes the true security of your bitcoin less than your dollars stored at your bank. With crypto, YOU are now responsible from solely defending your private keys, with no recourse if they are compromised: no FDIC insurance, no zero liability protection. It's definitely a paradigm shift!
Great content, thank you for your perspective on the small tweaks that can make all the difference. I know this phrase is way over-used, but it's "thinking outside the box" at it's best. And it's not even that far outside the box, maybe a step or two, which makes me feel like anyone is capable of doing it.
Very interesting how small changes in how we look at things can have big, if not huge consequences. Instead of looking "in" the page, we look at "to" the page and voila! Huge difference... Fascinating.
Thankfully people are finally waking up to the fact that, "spinning sand into gold" has destroyed our societies psyche and environment. So many people are now aware of this, that the majority of people even loathe the companies you mentioned.
The piece about BitCoin doesn't have a date. However, in 2003, my PhD dissertation was entitled: "Just In Time Payments And The New Global Currency For Conducting Business In A Global Economy." It was based on what we did with a company called Standard Reserve & Standard Transaction - a global organization that re-engineered an existing marketplace using digital money, digital signatures and digital contracts to enhance the speed of operations. All of our digital currency was backed by gold bars stored in Canada and London. I joined the firm as CEO in 2000 but the company was founded in late 1998.
I couldn't find a way to squeeze this in without making the post overly long, but I found it interesting that in modern times, we've discovered that silicon and lead aren't that far away from each other! Both are in the same periodic group: Carbons.
https://en.wikipedia.org/wiki/Carbon_group
https://ptable.com/?lang=en#Properties
I love the premise of the article! Unfortunately, from and information security standpoint, cryptocurrencies are still vulnerable to the exact same threats you mention when you have "a system that stashes actual money secretly on your disk drive". In fact that is exactly where the private keys associated with those bitcoin transactions are stored (on your phone, hard drive, etc.) The actual blockchain transaction records may be very secure, however the private keys associated with your bitcoin wallet(s) must also be protected. This is the weak link in the chain, and what makes the true security of your bitcoin less than your dollars stored at your bank. With crypto, YOU are now responsible from solely defending your private keys, with no recourse if they are compromised: no FDIC insurance, no zero liability protection. It's definitely a paradigm shift!
Thank you for sharing this inspiring article.
Excellent thought provoking read - thanks for getting my brain revved up this morning!
Thank you for that email. I thoroughly enjoyed reading it.
Very insightful piece and I too wish you had a penny for each blink of color
Thank you, Marc, for that reminder that business decisions can change societies profoundly.
Best Wishes for 2022.
Great content, thank you for your perspective on the small tweaks that can make all the difference. I know this phrase is way over-used, but it's "thinking outside the box" at it's best. And it's not even that far outside the box, maybe a step or two, which makes me feel like anyone is capable of doing it.
Very interesting how small changes in how we look at things can have big, if not huge consequences. Instead of looking "in" the page, we look at "to" the page and voila! Huge difference... Fascinating.
Great perspective, thanks
Really fun way of looking at it, thanks for the read Marc.
Wait…
It almost sounds like crypto currencies have a purpose and value…
…You don’t always hear that from the approved “opinion” checkers
Great article! Entertaining and informative. Thank you Marc for the great brain candy!
Thankfully people are finally waking up to the fact that, "spinning sand into gold" has destroyed our societies psyche and environment. So many people are now aware of this, that the majority of people even loathe the companies you mentioned.
The piece about BitCoin doesn't have a date. However, in 2003, my PhD dissertation was entitled: "Just In Time Payments And The New Global Currency For Conducting Business In A Global Economy." It was based on what we did with a company called Standard Reserve & Standard Transaction - a global organization that re-engineered an existing marketplace using digital money, digital signatures and digital contracts to enhance the speed of operations. All of our digital currency was backed by gold bars stored in Canada and London. I joined the firm as CEO in 2000 but the company was founded in late 1998.