Posts tagged with: Computing

Blog author: jcarter
Tuesday, January 10, 2017
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Note: This is post #16 in a weekly video series on basic microeconomics.

Ten years ago this week, Apple unveiled the iPhone. It’s a product that was designed in California and produced by thousands of people all over the world. How exactly is that process coordinated? How do those people now how much of each part to make?

In this video by Marginal Revolution University, economist Alex Tabarrok explains how voluntary coordination and markets make possible such modern-day miracles as the iPhone.

(If you find the pace of the videos too slow, I’d recommend watching them at 1.5 to 2 times the speed. You can adjust the speed at which the video plays by clicking on “Settings” (the gear symbol) and changing “Speed” from normal to 1.25, 1.5 or 2.)

Previous in series: A price is a signal wrapped up in an incentive

JohnGlennJohn Glenn, the first American to orbit the Earth, died today at the age of 95. Glenn was a U.S. Marine, a pilot, engineer, astronaut, and United States Senator from Ohio. He was also, at the age of 77, the oldest person to fly in space, serving in NASA’s Mercury and Shuttle programs.

In honor of his passing, here are six key quotes from Glenn on faith, service, and government:

On faith and opportunity: “I’m a Presbyterian, a Protestant Presbyterian, and I take my religion seriously as a matter of fact. I was brought up believing that you are placed on Earth here more or less with a 50-50 proposition, and that is what I still believe. We are placed here with certain talents and capabilities. It is up to each of us to use those talents and capabilities as best you can. If you do that, I think there is a power greater than any of us that will place the opportunities in our way.”

On civic participation: “To be a full participant in democracy, everyone should keep up with current events. Don’t let your view of government and politics and world events be formed through the filter of other people’s biases or ignorance. Develop your own ideas, for you are the government.”
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Blog author: dpahman
Friday, February 27, 2015
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Yesterday the FCC reclassified Internet Service Providers (ISPs) as a telecommunications service under Title II of the Communications Act, with additional provisions from Title III and Section 706 of the Telecommunications Act of 1996. This was done for the purpose of ensuring net neutrality or open internet access, requiring ISPs to treat all data on the internet equally. Notably, yesterday’s Order also includes mobile broadband for the first time as well.

In a press release, the FCC claims,

Together Title II and Section 706 support clear rules of the road, providing the certainty needed for innovators and investors, and the competitive choices and freedom demanded by consumers, while not burdening broadband providers with anachronistic utility-style regulations such as rate regulation, tariffs or network sharing requirements.

I have expressed concerns in the past about the smattering of regulations available under Title II, far beyond what would be required for net neutrality. On the surface, the press release would seem to indicate that the recent Order was designed to attempt to prevent those further regulations from being available to the FCC: (more…)

A prototype with DC appliances connected.

A prototype with DC appliances connected.

[Note: See this introduction post for an explanation of gleaner technology.]

Forty percent of the world’s population, including a significant portion of the rural and urban poor sections of the population in India, does not have access to reliable electricity supply. But a new energy source for them could come from an unlikely source: the 50 million lithium-ion laptop batteries are thrown away in the U.S. every year.

According to MIT Technology Review, researchers at IBM Research India in Bangalore found that at least 70 percent of all discarded batteries have enough life left to power an LED light at least four hours a day for a year:

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tkc1Christians colleges aren’t usually known for being on the cutting-edge of technology. But The King’s College, an evangelical college located in New York City, is leading the way by becoming the first accredited college in the United States to accept Bitcoin for tuition and other expenses:

“The King’s College seeks to transform society by preparing students for careers in which they help to shape and eventually to lead strategic public and private institutions. Allowing Bitcoin to be used to pay for a King’s education decreases our costs while simultaneously allowing our students to be a part of this exciting new technology,” said Dr. Gregory Alan Thornbury, President of The King’s College.

Coin.co CEO Brendan Diaz added, “Over the past year, the Coin.co team has led the effort to enable U.S. colleges, universities and other major institutions to accept Bitcoin without incurring any currency risk. Coin.co is proud to be working with The King’s College, and to be a part of pioneering the use of Bitcoin for education.”

Before commenting on their adoption of cryptocurrency for tuition, let me express my admiration for TKC. I’m a fan of the school’s president, Dr. Gregory Alan Thornbury, and our friend and Acton contributor Dr. Anthony Bradley, who is a professor of theology and ethics at the school. I applaud the college for being savvy enough to accept Bitcoins—and would advise students to be savvy enough not to pay their tuition with them.

The reason, as I’ve pointed out before, is that Bitcoins are no longer completely fungible.

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bitcoin“For federal tax purposes, virtual currency is treated as property.”

With those ten words, the IRS has made it more difficult — if not impossible — for bitcoin and other virtual currencies from gaining widespread, mainstream acceptance as a currency for commercial transactions. Because they are now treated as property, virtual currencies are considered, like stocks, bonds, and other investment property, as capital assets and will be subject to capital gains tax.

But why does this hinder bitcoins use a currency? The answer is fungibility: Bitcoins are no longer completely fungible.
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Blog author: jcarter
Wednesday, March 5, 2014
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bitcoin-deadLast year I wrote a series of blog posts about what Christians should know about Bitcoin. In response, one astute reader pointed out an odd juxtaposition: my conclusion seemed to imply that Christians should avoid Bitcoin “at all cost” and yet the Acton Institute accepts donations in Bitcoin. “I really want to know the rationale behind this,” he said.

Well, the rationale is easy enough to explain: Not everyone at Acton agrees with me. Like other nerds who have an interest in the intersection of economics, liberty, and technology, many of us at Acton disagree about the merits of Bitcoin. (I’d offer to place a gentleman’s wager on the future of the crypto-currency, but they’d want to bet using Bitcoin. Either way – whether it increased in value or went defunct – I’d end up the loser.)

Opinions are still divided, but the evidence that Bitcoin is doomed to failure piles up almost every day. Over the 8 month span from October 2010 to June 2011, the market value of Bitcoins skyrocketed 9667-fold from a value of $0.06 to $29. Later, when I wrote my series last April, a single Bitcoin was worth less than $100. Today, it is worth $660, and that’s after falling from a high of $1,100 in November 2013. A currency that can fluctuate from $0.06 to $1,110 in a three-year period is not a currency – it’s a speculative bubble.

Of course, we Bitcoin doomsayers have been waiting for the bubble to pop for some time now. We also tend to think that every new drop is a sign of it’s impending doom. Fellow naysayer Jonathan Last is sure, this time, that the end of Bitcoin is near:
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