Posts Tagged ‘technology’

There’s been a whole lot of discussion about the looming Bitcoin bubble burst or how valuing Bitcoin isn’t possible because “it’s not a value-producing asset”. Bloomberg seems to have figured out that even if Bitcoin isn’t a bubble, it will still fail because of it’s “exorbitant energy costs“.

We can’t assume that current financial transactions take place over a magic network that doesn’t require any energy to run. It takes energy to print paper money and to run the massive servers that banks and financial institutions use all around the globe. It’s not just magic.

Sid Verma is on to something about Bitcoin’s energy requirements, but he came to the wrong conclusion. Bitcoin’s exorbitant energy cost is NOT going to be Bitcoin’s undoing. Rather, it’s precisely what gives Bitcoin it’s value. The massive amount of energy required to mine Bitcoin means that you can compute a value for Bitcoin (contrary to what the “Sage of Omaha” thinks). Bitcoin will require more and more energy and hardware to continue to mine, increasing it’s real-world/tangible value. Even if energy costs decrease, more energy is required to mine at a far greater pace than the reduction in the cost of energy. The value of Bitcoin has a real-world justification for increasing because we value energy to support our digital world.

If the energy required to mine Bitcion will eventually surpass that of the entirety of Japan, Citigroup is suggesting that governments will tax miners for their high energy consumption. That doesn’t take into consideration renewable energy (there’s a reason why so much mining is taking place in Iceland: geothermal energy) and autonomy of energy. Ironically, this decentralized currency is ideal for decentralized (and cleaner) energy production as well.

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I was listening to the radio the other day, and it dawned on me… Twitter could be useful after all! The radio stations should have twitter accounts and post the song name, artist, and a link to a page for that song/artist where we can read more (perhaps lyrics, artist bio) and download the MP3 via iTunes or Rhapsody. I’d be following all my local stations if they did that instead of post a bunch of stuff about their giveaways that I’m not interested in.

The stations could still throw in the giveaway tweets, but knowing what the song is and being able to get more information about it instantly would be a great service. It would actually make Twitter useful 😛

Proposition 10: Authorizes $5 billion in bonds paid from state’s General Fund, allocated approximately as follows: 58% in cash payments of between $2,000 and $50,000 to purchasers of certain high fuel economy and alternative fuel vehicles; 20% in incentives for research, development and production of renewable energy technology; 11% in incentives for research and development of alternative fuel vehicle technology; 5% in incentives for purchase of renewable energy technology; 4% in grants to eight cities for education about these technologies; and 3% in grants to colleges to train students in these technologies. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: State costs of about $9.8 billion over 30 years to pay both the principal ($5 billion) and interest ($4.8 billion) costs on the bond. Payments of about $325 million per year. Increase in state sales tax revenues of an unknown amount, potentially totaling in the tens of millions of dollars, over the period from 2009 to beyond 2018. Increase in local sales tax and VLF revenues of an unknown amount, potentially totaling in the tens of millions of dollars, over the period from 2009 to about 2018-19.

My Take

Waste, waste, waste of money!!! There are much better incentives to develop better technology and give people a greater incentive to purchase high fuel economy vehicles.

During the holiday of 2006, I posted a verbose blog about how Sharper Image is going down the tubes. My prediction was off by a few months, but reality has finally hit The Sharper Image management. Sharper Image Bankruptcy is now reality.

I had to update this blog as news about Sharper Image’s Bankruptcy started hitting the news all over the place:

Multi-Channel Merchant
DIRECT Newsline
CNN Money
CNBC
MSNBC
NY Times
Forbes
Reuters

Of course, it was all over the major news networks yesterday and today as well. So, I decided to a couple of section.

When Analyzing the Sharper Image Bankruptcy, You Might Know You’re Crazy If:

  • You think Sharper Image won’t be sued by it’s investors
  • You think Sharper Image was going to turn things around after firing founder Richard Thalheimer
  • You think Brookstone is going to fill the shoes of Sharper Images

The decline of any giant like Sharper Image is always good news for others. For instance, there will be countless lawyers and collection agents who will have additional work because of this monumental blunder. Richard Thalheimer will have to hire additional employees to handle the added traffic to his RichardSolo.com. Also, it gives the media plenty of work and has kept a lot of stockbrokers busy as of late. There are likely bound to be countless books about Sharper Image coming out. Here are a few title suggestions:

  • Tarnished Image
  • Death of a Gadget Salesman: Why Firing Richard Thalheimer Expedited the Decline of Sharper Image
  • The New Face of Innovation: Bankruptcy
  • The Rise and Fall of the Holy Gadget Empire

Think again! Gotovertime.com has compiled a list of common reasons we think we are exempt from overtime:

Chances are you’ve fallen into one of these traps. I know plenty of people who have. Most of which are computer programmers. For some reason people in IT seem to really be disgruntled by the amount of work they provide, the amount of value they provide to the company, and how little they are compensated and valued by their employer.

Guess what IT folks? You’re rights to overtime are changing and not for the better. Here’s a bit of news to help you feel even more upset about your unfair treatment at work. Of course, you’ll probably just sit there and complain rather than do something about your unfair treatment. Good luck with that.

oooooooor… Do yourself a favor and be the first guy at your company to must up enough guts to make a difference for all the people in IT who have been taken advantage of before you’re rights to overtime are whittled away to nothing.

Sometimes chalked up as “hippie consumerism”, green products have not received as much mainstream coverage as some of these great innovations deserve. Nor have they been accepted as widely as there is a true market for green products. There is a laundry list of reasons that green products have been muddling along for the last 15 years.

Often times green products are seen by some of the media as products that are developed by finger-pointing environmentalists who want to find fault in modern consumerism (watch Fox News). Some times, there are short-sighted green products that look green on the outside but fall short. For example, someone sent me a “hydrogen fuel cell charger” the other day. Thinking that I would receive something that I could just refill with distilled water, I was completely disappointed with what I found: a unit that I need to send back to the manufacturer to recharge! Let’s do the calculation on the UPS truck picking up the unit to send it back to the manufacturer. Not really green, sorry.

But things are reaching a tipping point for green products, making it one of the most impressive opportunities for business in years. Green products are not just “good” products or products that make the environment happy. What green products really are is the evolution of product development. After inventing hundreds of different types of batteries using limited (and mostly dangerous) resources, what is next? Developing a portable power source that is made of renewable and less toxic materials. After more than a hundred years of the internal combustion engine, what is next? Just think back to the replacement of the steam engine. Sure, there are steam engines around today, but they have mostly been replaced by better technology.

Our cars. Our homes. Our appliances. Our energy sources… These will all change into green products in the future. Remember the source of light for most homes in the United States at the beginning of last century? Wasn’t the light bulb folks! Remember cash registers from the 1800s? Weren’t swiping credit cards my friends! Remember how we traveled across the Pacific for most of the 1900s? Wasn’t in an airplane like today!

So, what is next for business? What is the next great industry that will take us through the evolution of the silicon age? Green products. This shift in industry won’t be led by the picket lines and inconvenient truths. It will be led by good old fashioned pioneers of innovations. People like Richard Branson and Bill Gates and George Westinghouse and Benjamin Franklin and Leonardo Da Vinci and Archimedes… and anyone who puts their ideas out there and makes it happen.

Be on the lookout for big news about green.

Any of us who use Windows (you know who you are by the sucker written on your forehead), have seen the “You have unused icons on your desktop” message pop up from time to time. But most of our screens are not displayed on a screen the size of a 10 story building like this guy:

You have unused icons on your desktop

I kinda wish I had stuck around to see them clean the desktop 😛

In a stark blow to the Holy Roman Catholic Church, experts in Internet technology have concluded that the World is not the center of the World Wide Web. In fact, scientists now suggest that Sun is the center of the Internet! Experts were also quick to announce that MySQL was not going to hire Bill Parcels as the General Manager.

I wonder if all of this is going to mean that my GoDaddy PHP sites are going to run a little faster now!