| | | Elon Musk agrees with me and has also copied me in various things. He agrees that it's essential to start at first principles, ensure axioms, assumptions are correct and that rules of physics are complied with. He has copied my electric cars enthusiasm from 1986. I funded [via Qualcomm] an early cybermoney project by Elon and co namely PayPal [I was already on the cybermoney case]. He copied word for word my description of my 1000 kph vacuum tunnels for photovoltaic powered small passenger vehicles across Asia, Europe and beyond, he has copied my little car-sized tunnels which I proposed for Waitemata Harbour a couple of decades ago [Boring Company], and he's now gone big on Cybermoney but of bung bitcoin variety which is faulty on first principles. He also went big on photovoltaics. 26 years ago my friend used to laugh at me explaining how I could cover Australia with photovoltaics, with desalination, crops below, electric cars in cities.
All my projects were described right here in SI years before Elon copied/figured out the same general ideas.
Unfortunately, Qualcomm did NOT keep Eudora as the world's pre-eminent email and Cyberspace entry point. BIG BIG BIG mistake [lack of imagination]. Same with the bung Globalstar marketing ideology and network planning. Now Elon is launching space-based Cyberspace as I described 2 decades ago. I wonder whether he will have the brains to do pricing correctly. Unlikely.
Yes, one could cower in gold, but I have had 32 years of fun and profit with Fourier Transforms creating mobile Cyberspace from less than thin air ie the aether. It's the biggest thing ever, including the invention of DNA a billion years ago, which was just the mechanism to develop intelligence sufficient to come up with Fourier Transforms and the whole magical Cyberspace realm which is filling right now with extra-somatic intelligence at exponentially parabolic rate, with no asymptote, and no hyperbole.
People who are gung ho all-in altogether, all for one and one for all, muchly because Elon declared bitcoin to be highly alluring are barking up the wrong tree. There is a lot of Pied Piper going on.
Gold is so last centiury. So Roman. From a material realm. Like Moai on Easter Island, or those big rocks with holes in them which worked as money, even when sunk - that one was still valid money as it was sure to be there at the bottom even though it could not be seen.
Bitcoin has got the right idea that a unit of value is not a physical existence, unlike weight, mass, distance, lumen, rad, temperature, volume, area, time [ooops, that one is a bit slippery, along with distance really but near enough okay in our mainly Newtonian world]. But having a half-baked idea isn't good enough for the big time. Bitcoin does use limited number [21 million] which is good, it uses peer to peer valuation which is essential, without third party dilution, swindling, quantitative blather. But what bitcoin has wrong is too bad.
In mobile Cyberspace terms, backing bitcoin is like backing analogue spectrum, or GSM, or TDMA , or GPRS, or W-CDMA, or the Made in China swindle/theft TD-SCDMA to create mobile Cyberspace They sort of partly do the job but far from good enough. Now we're getting 5G many gigabits per second with almost free base stations dumping terabytes into high speed optical fibre with hardly any electricity needed, using devices which are fantastically amazing and accelerating, with 3D visual and stereophonic reality delivery from anywhere to anywhere coming soon. With tiny cost, low latency and very high resolution that will not make brains go wonky.
Gold would have just sat there for 30 years = with a diluted increase from under $300 [1989 dollars] to $1800 [2021 dollars] [a mere 6x with zero excitement and zero utility, with theft likely and cost of defence constant]. Might as well not exist.
Bitcoin is bung. Guessing the peak will be fun. It could go to infinite in US$. Like Zimbabwe$. But that's unlikely. A Volker style 10% interest rate is more likely = ouchy wouchy for a lot of debtors. Owning the US$ is enormously profitable. Killing the goose that has laid megatons of golden eggs is unlikely. Better to bankrupt house mortgagors, yet again, along with a lot of mortgagees. And a lot more besides.
It's amazing people are being sucked into bitcoin in droves into $trillions [the right design would be worth $30 trillion or maybe $100 trillion but bitcoin is extremely far from the right design]. It has been an amazing 30 years of investing and 21st centiury technology development.
I read a letter from France in the late 19th century to family in NZ. It reported how the industrial revolution was taking over and swarms were moving to cities and factories. It was a very big deal back then. A similar process but scaled up orders of magnitude has been underway for a few decades. The industrial revolution largely replaced muscles. This one is replacing brains.
Mqurice |
|
