Robotics champs gutted by tournament cancellation – The Bay’s News First – SunLive

Young New Zealanders who qualified to represent the country are devastated after the cancellation of the Olympics of robotics due to be held in the USA this April.

With the ever-changing developments of COVID-19 across the globe, the VEX World Robotics Championships recently announced its cancellation for 2020, affecting thousands of students globally.

Tauranga teens affected by this cancellation are Sam Orlser, 13, and Luca Ririnui, 13, who make up the House of Science Tauranga robotics team.

They are both year nine students from Mount Maunganui College.

More than 40 students from Auckland, Palmerston North, Feilding, and Christchurch had also managed to qualify for prestigious places to attend the World Championships.

Kiwibots hosts National level competitions where teams compete for a place at the World Championships. These events have also been postponed.

"Our teams who qualify for the Worlds are always in for a once-in-a-lifetime experience - these really are the Olympics of robotics, and with New Zealand being nine times World Champions we really have a good shot at keeping up our records in years to come, says national manager of Kiwibots Janet Van.

Its a shame we wont be able to do this in 2020.

Each year VEX releases a new robotics design challenge - students from around the world begin designing, building and coding their own robot to tackle the challenge and achieve the highest score in the game.

"As the future of technology continues to evolve, its more important than ever to make sure we can provide the resources and tools to help young New Zealanders innovate and have hands-on experience as early as possible, says Janet.

The earlier we can train these engineering skills and expose Kiwis to robotics in the mainstream, the better prepared our future generations are for technological advancement and be leaders," says Janet.

After spending nearly a year building and designing their robots, qualifying teams have worked hard fundraising and saving to get them over to Louisville, Kentucky.

Despite the devastating news about the events cancellation, students are still showing grace and positivity, says Janet.

Continued here:

Robotics champs gutted by tournament cancellation - The Bay's News First - SunLive

The robots are ready as the COVID-19 recession spreads – Brookings Institution

As if American workers dont have enough to worry about right now, the COVID-19 pandemic is resurfacing concerns about technologys impact on the future of work.Put simply, any coronavirus-related recession is likely to bring about a spike in labor-replacing automation.

Whats the connection between recessions and automation? On its face, the transition to automation may appear to be a steady, long-term trend. At the same time, it might seem intuitive that any rise unemployment in the coming months will make human labor relatively cheaper, thus slowing companies move to technology. Unfortunately for the workers poised to be affected by automation, this is not the case.

Robots infiltration of the workforce doesnt occur at a steady, gradual pace. Instead, automation happens in bursts, concentrated especially in bad times such as in the wake of economic shocks, when humans become relativelymoreexpensive as firms revenues rapidly decline. At these moments, employers shed less-skilled workers and replace them with technology and higher-skilled workers, which increases labor productivity as a recession tapers off.

Several economists have outlined this cyclical nature of automation. Nir Jaimovich of the University of Zurich and Henry E. Siu of the University of British Columbia reported that over three recessions in the last 30 years, a whopping 88% of job loss took place in routine, automatable occupationsmeaning such jobs accounted for essentially all of the jobs lost in the crises. Brad J. Hershbein of the W.E. Upjohn Institute and Lisa B. Kahn of the University of Rochester looked at almost 100 million online job postings before and after the Great Recession and found that firms in hard-hit metro areas were steadily replacing workers who performed automatable routine tasks with a mix of technology and more skilled workers.So, even as robots replace workers during boom times at places such asAmazonandWalmart, their influx surges during recessionsnot great news for the nations jittery workers.

As virus-relatedrecession fearsescalate, it is important to stress that while automation is likely to surge in general, not everyone is equally vulnerable. As our 2019 assessment of automation trends suggests, it is low-income workers, the young, and workers of color who will be vulnerable if this pandemic shoves the nation into a recession.The automation surge is likely to affect the most routine occupationsjobs in areas such as production, food service, and transportation, for example.

Altogether, our research flags some 36 million jobs that have a high susceptibility to automation. (That doesnt mean theywill beautomated, just that they could be.)

As to what particular groups of workers may be the most exposed, the threats are not evenly distributed.As restaurants and bars shut down during the pandemic, young workers may be at higher risk because of their heavy concentration in the food industry. Similarly, Latino or Hispanic workers could be more exposed than any other racial or ethnic group given their overrepresentation in food service jobs, production, and constructionareas that are likely to be stressed in the coming months.

In terms of geography, our previous work has shown that Rust Belt areas, which have already been hollowed out by previous rounds of industrial automation, remain vulnerable to further robotics and software investmentnot just in manufacturing but in the service sector as well. The pandemics damage to global industrial supply chains underscores the vulnerability of such manufacturing regions.

As for what all of this means for the future, the potential of an automation surge reinforces the fact that any coming recession wont only bring an end to the nations plentiful supply of jobs. Any downturn is likely to bring a new bout of structural change in the labor market and its demand for skills. If it extends for a while, the downturn could induce firms in food service, retail, and administrative work to restructure their operations toward greater use of technology and higher-skilled workers. For Americas beleaguered lower-skill workers, these changes will complicate the return to normalcy.

There likely will be no rest for the weary if COVID-19 lingers. Along with a public health crisis and epidemic of illness, the virus may well prompt a new spike of automation and lasting changes to an already rapidly evolving job market.

See more here:

The robots are ready as the COVID-19 recession spreads - Brookings Institution

ForwardX Robotics Ensures Reliability with Opening of US Test Center – Supply and Demand Chain Executive

ForwardX Robotics announced the opening of a new international test center in Phoenix, Arizona. Located within Northwest Business Center, at 9013 N 24th Ave, Suite 6, the new test center will act as home base to a growing team of application engineers, deployment engineers, and project managers as ForwardX expands its reach in the U.S. market.

At ForwardX, were devoted to developing industry-ready solutions that are highly effective, safe, and reliable. With the opening of our latest international test center, we hope to show our clients that their success is of paramount importance to us, said Viktor Wang, Senior Product Director at ForwardX Robotics. Were happy to welcome anyone interested in transforming their facility to join us in Phoenix soon.

The opening of its newest test center marks the second opening in as many months for ForwardX, with the unveiling of its U.S. headquarters in San Diego last month. With industry experience around the world, ForwardX has set its sights on the American market with its range of visual Autonomous Mobile Robots (AMRs), using state-of-the-art computer vision technology to address real issues in the logistics, manufacturing, and retail industries.

With the AMR and AGV market set to grow more than 50% annually, we see that there is a real need for reliable methods of automation. With our turnkey solutions and technological edge, we have made it our mission to help clients transform their operations as quickly and effectively as possible, said Nicholas Temple, VP of Sales Americas at ForwardX Robotics.

Originally posted here:

ForwardX Robotics Ensures Reliability with Opening of US Test Center - Supply and Demand Chain Executive

Startup help: Making isolation wards robot ready – ETtech.com

Illustration: Rahul Awasthi A startup based in Kerala has developed a robot that can be used to serve food and medication to patients in isolation wards.

The development comes at a time when the country is battling an increasing number of cases of people infected by the Covid-19 virus, many of whom require isolation at hospitals to prevent the disease from spreading.

Asimov Robotics says its KARMIbot can help reduce both the burden on healthcare professionals as well as the risk of them being exposed to the virus.

The company, incidentally, shot to fame after Congress MP from Thiruvananthapuram Shashi Tharoor shared a video of its androids distributing sanitisers and masks, and promoting awareness among people about the pandemic.

The robot is expected to be cost-effective. Once the mould is completed and spares made available, the company will be able to manufacture one robot a day. It is in talks with the Ernakulam district health authorities for approval to roll out the robot at the earliest.

The robot also comes enabled with a video conferencing facility, which is expected to aid healthcare workers in keeping tabs on patients remotely. The patient will also be able to interact with attendants without coming in contact with them physically.

We have many startups that are working in disaster management and relief, said Saji Gopinath, head of Kerala Start Up Mission (KSUM).

These startups, like Asimov Robotics, have many products that can be pivoted into being used as solutions in times like thiswe felt that using robotics to help with caregiving and other non-essential medical procedures such as delivery of food or medication can considerably reduce the burden on healthcare workers, Gopinath added.

Kerala, which has been one of the worst affected due to the outbreak, on Monday reported 28 fresh cases, taking its total tally to 95, of which four people have been discharged. It is also in a state-wide lockdown till month end. This is a great time for technology to effectively and efficiently improve the situation, said Prasad Balakrishnan Nair, CEO of the Maker Village, an electronics hardware incubator located in Kochi. We are promoting a number of initiatives that could be of assistance in these trying times.

Another Kerala-based startup is developing an electronic temperature scanner that will not require manual checks with a thermal scanning device. The walkthrough scanner will record the temperature and send out an alert if it is higher than normal, Nair said.

View original post here:

Startup help: Making isolation wards robot ready - ETtech.com

ForwardX Robotics Opens US Headquarters in California – Supply and Demand Chain Executive

ForwardX Robotics opened the doors to its U.S. headquarters in Mission Valley, San Diego. The new location, at 1455 Frazee Rd, Suite 522, marks ForwardXs first official step into the U.S. and will become the hub of their U.S. operations with a growing team set to call it home.

Since our conception in 2016, ForwardX has delivered on our promises, making a real, positive impact on our clients operations across the world. Now, we are determined to deliver those results to the logistics, manufacturing, and retail industries in the Americas, said Nicholas Temple, VP of Sales Americas at ForwardX Robotics. The opening of our U.S. headquarters shows real intent as we aim to make a mark stateside.

Specializing in providing visual Autonomous Mobile Robots (AMRs), ForwardX currently serves a number of Fortune 500 companies, from leading 3PLs and fashion retailers to OEMs. The addition of its U.S. headquarters strategically places ForwardX in the growing tech hub of San Diego where a number of key players in robotics-related industries are based, such as Teradata, Qualcomm, and Dexcom.

The new office will be located within the Pacific Center, an LEED Gold-awarded office space originally built in 1986 before being renovated in 2005. Designed by architecture firm Brian Paul & Associates, the 440,000-square-foot building is located close to Qualcomm Stadium, Downtown San Diego, and the University of California, San Diego (UCSD).

Read more:

ForwardX Robotics Opens US Headquarters in California - Supply and Demand Chain Executive

Look inside the hospital in China where coronavirus patients were treated by robots – CNBC

The idea of humanoid robots taking jobs previously done by humans may feel dystopian, but in the midst of the global COVID-19 pandemic, robots can free up human hospital medical staff and limit the possibility virus spread.

That's precisely why Beijing-based robotics company CloudMinds sent14 robots to Wuhan, China to help with patient care amid the coronavirus pandemic.

The robots, some of which are more humanoid than others, can clean and disinfect, deliver medicine to patients and measure patients' temperature. CloudMinds donated robots to several medical facilities in China, including the Wuhan Wuchang Smart Field Hospital, which was converted from the Hong Shan Sports Center.

For a time in March,"a previously human-run field hospital located inside Hong Shan Sports Center located in Wuhan was converted ... into a robot-led field hospital staffed entirely by robots and other smart [Internet of Things] devices," CloudMinds CEO and founder Bill Huang tells CNBC Make It, in a statement.

The robots cost between $17,000 and $72,000 each, a spokesperson for CloudMinds U.S., tells CNBC Make It.

Take a look.

In the video below, CloudMinds' infrared thermometry system checks peoples' temperature as they enter the Wuhan WuchangSmart Field Hospital. If a person entering the hospital showed fever symptoms, theAI platform would alert humanmedical staff.

All video and photos courtesy of CloudMinds

CloudMinds' humanoid service robot, Ginger, helped with hospital admissions, education services and, as can be seen in the video below, in providing a bit of levity. In addition to its administrative responsibilities, Ginger, "helped lift the spirits of bored quarantine patients by entertaining them with dancing," Bill Huang said.

The delivery robot below has an autonomous navigation and obstacle avoidance system. It can be used to deliver food, drinks and medicine to patients without direct person-to-person contact.

The robots worked with an artificial intelligence information management platform.

Called HARIX (Human Augmented Robot Intelligence with eXtreme Reality), "this AI platform, synced with smart bracelets and rings worn by patients, was able to monitor patient vital signs (including temperature, heart rate, blood oxygen levels), allowing doctors and nurses outside the facility to monitor all patient vital information remotely on one interface," Bill Huang tells CNBC Make It.

"Doctors and nurses were also equipped with these smart devices to monitor their own vitals to catch any potential early symptoms of infection," he says.

Operations in field hospitals like Wuhan Wuchang Smart Field Hospital have now been put on hold.

"These temporary field hospitals were used primarily to treat new incoming cases with light symptoms, with severe cases being transferred to hospitals," a CloudMinds spokesperson tells CNBC Make It. "As the containment efforts have improved, and the number of new cases has decreased, hospitals are now able to accommodate all new incoming cases."

See also:

The water in Venice, Italy's canals is running clear amid the COVID-19 lockdown take a look

'Americans need cash now:' Coronavirus has lawmakers calling for UBI

Bernie Sanders: 'If you're a multimillionaire ... you're going to get through' the coronavirus pandemic

Read the original here:

Look inside the hospital in China where coronavirus patients were treated by robots - CNBC

New Ideal ‘s Response to the Coronavirus Pandemic – New Ideal

Already, in these early days, the COVID-19 pandemic and government responses to it have drastically reshaped life and society. Lockdowns. Stay at home directives. Millions of businesses, schools, and organizations shuttered. So far more than 370,000 confirmed cases have been reported worldwide. In the U.S. that number exceeds 33,000, with 400 dead. On the front lines are heroic doctors and nurses, battling the virus amid shortages of medical supplies and mounting risk.

We at New Ideal (along with the rest of the Ayn Rand Institute) feel very fortunate that we are able to continue our work, remotely. Our hearts go out to the many in-person businesses restaurants, theaters, airlines, etc. that are closed down with an uncertain future. Were awed by the ongoing efforts of medical professionals and scientists racing to slow the spread and find treatments for the virus.

The mission of this journal is to explore pressing culturalissues from the perspective of Ayn Rands philosophy, Objectivism, and, amidthe havoc and upheaval brought on by the novel coronavirus outbreak, theresmuch to cover.

For the weeks to come, perhaps longer, well be putting aspecial focus on pandemic-related content (publishing on other issuesoccasionally). Here, in case you missed them, are two insightful conversationsabout the pandemic:

1. In a recent special episode of Philosophy for Living on Earth, Ben Bayer interviewed Onkar Ghate and Greg Salmieri on how to think philosophically about the pandemic and the complex scientific and political issues we are confronting. Topics included the ongoing heroic efforts to stem the viruss spread, the destructive impact of government force in medicine, the need for government to make its reasoning clear when imposing controls, the need for regulatory decontrol, the role of altruism in distorting impact assessment, techniques for evaluating the flood of information were all receiving, and the vital importance of reason in coping with the crisis.

Audio of this event is available on the Philosophy for Living on Earth podcast (Apple and Stitcher). You can watch the entire discussion here:

Toget you started, here are some short clips that focus on particular topics:

2. In another episode, Onkar Ghate interviewed finance experts Yaron Brook and Rob Tarr about the economic ramifications of the pandemic, and the governments reaction to it:

Audio only:

Theres more coming up, so please subscribe to our emailupdates to stay in the loop.

Finally, I hope you and your loved ones are safe and well.

Continued here:

New Ideal 's Response to the Coronavirus Pandemic - New Ideal

This is why everyone loathes Congress – The Week

Illustrated | iStock

March 25, 2020

Sign Up for

Our free email newsletters

Where would we be in these troubled times without our federal government? I don't mean the executive branch, which has, ably or otherwise, gone about the business of governing, much less the Supreme Court, whose justices recently delivered their opinions remotely for the first time since Bush v. Gore in 2000. I am talking about Congress, which for all practical purposes might not have existed since March 18 or so.

For weeks now it has been clear to everyone that some sort of comprehensive economic relief package will have to be prepared in response to the coronavirus outbreak. This is especially true for the millions of people employed in the restaurant business and other industries, where hourly earnings and tips began to decrease long before they actually lost their ability to work. As far as I am aware no meaningful segment of the population not conservatives, not progressives, not even libertarians is opposed to such action. One likes to think that even Ayn Rand would probably have conceded that people who are told by the government that they cannot report to their places of employment cannot be faulted for not having money to pay their bills and provide for the other basic necessities of life.

You could be forgiven, then, for imagining that this would be a perfect opportunity for the legislative branch to do all the things members of both parties are always saying they want to do: to "put politics aside" and "reach across the aisle" feel free to insert more of your favorite clichs in order to "get something done" on behalf of the American people.

Nothing of the kind has happened. It would take a narrative historian of genius (and infinite patience for unrewarding archival work) to give an account of the wrangling between the two parties in both chambers of our federal legislature during the past two weeks. Many observers have drawn attention to attempts by both parties to use this crisis legislation to further their long-standing agendas (the usual carve-outs for business; a bizarre requirement that beginning in 2023 airplanes provide passengers with real-time estimates of the carbon expended over the day's flight along with their boarding passes.) But really ideology has played a very minor role in this week-long spectacle of performative disagreement. At one point or another during the debate surrounding the relief package, bills favored at least temporarily by both parties have both featured and rejected means testing, for example, and providing direct cash payments in addition to expanded unemployment benefits.

This is exactly what we have all come to expect from Congress in moments of crisis. Instead of swift, decisive action we are treated to absurd, unserious proposals, partisan theatrics, obstruction for its own sake. It is, after all, what happened in 2008, when Republicans decided that all the relief measures they had supported at the end of the Bush administration had suddenly metamorphosed into "socialism" the moment the junior senator from Illinois took the Oath of Office. It would be hilarious if it weren't, you know, deadly serious business.

This is why I am not even remotely surprised that the actions being praised by journalists (and earning the tacit approval of public health authorities) in other countries were not the result of a deliberative process. China, Singapore, and South Korea did not spend weeks allowing nihilist legislators to stall their responses. Even in Britain, where a nation-wide shelter-in-place order was announced on Monday, Parliament had no say. This should not, technically speaking, have been possible under the British constitution. Boris Johnson assumed the role of Lord Protector and suspended public life unilaterally, without votes in the Commons or the Lords, much less Royal Assent.

Was this a good thing? I am inclined to say no, but only because I continue to believe that we have overestimated the seriousness of this virus. The horrifying reality about coronavirus is that if skeptics are proven right, we will still have been afforded a preview of what would happen if this country actually faced a crisis of apocalyptic proportions. A feckless president would worry about his or her approval rating; the two parties in Congress would squabble over pointless details, while the gas-lighting media, only a few weeks removed from scolding the president for taking any interest in the problem at all, prided itself on the thoroughgoingly woke nature of its response to the final doom. And somewhere, the people suffering the most, the people who suffer the most in every crisis, ordinary decent men and women and their families, with little or no help from those ostensibly responsible for their interests, would find a way to survive.

Powered By ZergNet

Read the original post:

This is why everyone loathes Congress - The Week

Gerth: Rand Paul’s me-first mentality exposed the US Senate to coronavirus – Courier Journal

Autoplay

Show Thumbnails

Show Captions

LOUISVILLE, Ky. Rand Paul is giraffish.

Doesnt make sense to compare a little sprite of a U.S. senator to a giraffe. But hang with me here.

The junior senator from Kentucky is now self-isolatingafter he learned Sunday that he is infected with the coronavirus.

But he didnt self-isolate before he saw fit to expose himself to other members of the U.S. Senate by attending a luncheon in the Senate, and according to The Washington Post, going to the Senate gym and taking a dip in the Senate pool.

Along the way, one can only suspect that he touched tables and chairs and door knobs and lockers and shower knobs and hands and, well, just about everything youd expect to touch if you went to a luncheon and a gym and a swimming pool.

Leaving the coronaviruseverywhere he went.

More: Kentucky's Rand Paul the first known US senator to test positive for coronavirus

All this after he was worried enough that he might have picked up the coronavirus in Louisville at the March 7 Speed Ball fundraiser an event at which at least three others who attended tested positivefor the virus that he went looking to be tested.

This really shouldnt surprise any of us.

It falls right in line with the second-rate political philosophy he ripped off from second-rate author Ayn Rand a philosophy that puts ones own personal desires and individual wants above all else.

But when he complained about rules limiting the manufacture of incandescent light bulbs because they use too much electricity, or when he ranted about the fact that the low-flow toilets in his house hadnt worked for 20 years, he became little more than a punchline.

Now hes a petri dish.

Spreading the potentially deadly virus among a population that is most at risk of dying from it.

Kentucky coronavirus live updates: The latest news

Kentucky coronavirus map: How many coronavirus cases are in Kentucky? Where are they?

According to the Congressional Research Service, the average U.S. senator is 62.9 years old. Its the oldest U.S. Senate in history, and it puts the average senator well over the age of 60, at which point the coronavirus becomes much more lethal.

Its hard to imaginea U.S. Senate headed by Mitch McConnell being more toxic than it already was, but congratulations Rand. You did it.

Now, youve got two other Republican members of the Senate in self-quarantine, one of whom is 73-year-old Sen. Mitt Romneyof Utah. Romneys wife, Ann, is 70 and has multiple sclerosis, which could put her at even greater risk.

And Paul subjected Romney and the others to this after he was worried enough about himself to get the test, but not worried enough about others to warn them?Who does that?

Sen. Rand Paul, R-Ky., arrives for the impeachment trial of President Donald Trump on charges of abuse of power and obstruction of Congress, at the Capitol in Washington, Tuesday, Jan. 28, 2020. (AP Photo/J. Scott Applewhite)(Photo: J. Scott Applewhite, AP)

Obviously, someone who is more worried about their individual right to do whatever the hell they want and doesn'tgive a damn about the people they might harm.

Its the same type of person who would insist on burning incandescent lightbulbs even though they force us to burn more fossil fuels and then claim that their use of fossil fuels isnt causing climate change despite the fact that the scientists studying this stuff almost uniformly say it is.

Its the same type of person who would block funding after national disasters in an attempt to make some lame point about deficit spending, and then would vote for tax cuts for the wealthy that would put the country into even greater deficit spending.

Read this: Rand Paul's coronavirus infection sends shockwaves through Senate during major stimulus debate

Its the same type of person who looks up to Ayn Rand's objectivism philosophy a philosophy Paul ascribes to that says a persons own happiness" is "the moral purpose of his life.

In my house, wed call it giraffish, from an episode of the old "Andy Griffith Show" when Barney Fife is explaining to Opie why a pack of dogs hes worried about during a thunderstorm and one little trembly one in particular will be OK.

Dogs take care of one another, Barney explains. Not giraffes.

Boy, giraffes are selfish, Barney says. Running around, looking out for number one.

The fact that Paul was, as always, looking out for No. 1has exposed other members of the Senate, their families and staffs to this dreaded virus. He should be ashamed.

But, giraffes don't feel shame.

Joseph Gerth can be reached at 502-582-4702 or by email at jgerth@courierjournal.com. Support strong local journalism by subscribing today: courier-journal.com/josephg.

Read or Share this story: https://www.courier-journal.com/story/news/local/joseph-gerth/2020/03/23/rand-pauls-selfishness-exposed-his-colleagues-to-coronavirus/2897657001/

See the rest here:

Gerth: Rand Paul's me-first mentality exposed the US Senate to coronavirus - Courier Journal

Can The Coronavirus Potentially Lead To A More Humane And Effective Form Of Capitalism? – The Ring of Fire Network – The Ring of Fire Network

If there is a silver lining tothe current coronavirus pandemic, it is that it has exposed fundamentalweaknesses in the current capitalist free-market economic system that most ofus have taken for granted our entire lives. People in low-wage service jobs, food-serviceworkers, education support personnel, private tutors and instructors and otherswith jobs that frequently bring them into contact with the general public havebeen hit especially hard as restaurants, lounges, schools and even librarieshave been shut down for the duration.

It has gotten to the point thateven politically and fiscally conservative leaders, who typically expect mostof the people they claim to represent to fend for themselves, are actuallyproposing massive programs of direct financial aid. The Trump Administrationand Republican lawmakers have been working on a $2 trillion dollar stimulus package that for once, doesnt consist strictlyof bailouts for big business and industry (although that is certainly part ofit).

Other governments around theworld are following suit in one way or another. For example, the U.K. government recently announced that it will be paying 80 percent ofworker salaries up to 2500 per month($2900 USD) for 12 weeks, while offering tax breaks and interest-free loans forbusinesses. Across the Channel, France is preparing to nationalize several industries while suspendingtax, rent, and utility payments for small companies.

The problem is that we, as aglobal society with a tightly interconnected economic system, are enteringuncharted territory. That economic system is largely based on two fundamentalthings:

If there was ever a time to thinkoutside the box, it is now. Governments immediate solution is to throw moneyat the problem in one way or another cash payments, low interest rates,subsidized loans or grants, etc. In the short term, this is indeed necessaryfor the majority of people who have been left behind by capitalisms uncheckedexpansion over the past four decades, as well as small businesses andentrepreneurs who lack the resources of global corporations to weather suchstorms.

Such actions, howeverwell-intentioned, essentially treat the symptoms while ignoring the underlyingdisease. Biologically, coronavirus is most dangerous to those who have otherhealth problems, such as compromised immune function. Economically, it appearsto have a similar effect on unhealthy financial systems.

Would the type of socialismpromulgated by Presidential hopeful Bernie Sanders save us? For awhile, itcould but like government stimulus programs, it would be a stopgap solution.The problem here is that socialism is not always conducive to the type ofinnovations that can benefit society and help us leap forward.

The idea that people shouldreceive free anything including housing, food, health care and education isanathema to those who espouse unbridled, free market capitalism. Yet, lack ofthese basic survival needs, or even the threat of losing them, is at the rootof virtually every problem society suffers today. People can live without jetskis or the latest and greatest smart phones. They cannot live without food,clean water, shelter and medical care when needed. Without some degree ofeducation, they cannot truly be productive members of society. Yet, the currentcapitalist system demands that all of these things be commodified and makeprofits for someone. Meanwhile, those who provide housing, food and health careare under pressure themselves, having to pay for labor, raw materials, taxesand legal costs.

To suggest that all of thesethings should be free may evoke hard resistance from supporters of the freemarket capitalist system, yet the poverty that results from a lack of basicneeds creates crime, disease (mental and physical), environmental degradationand more adding hugely to the cost of running a society. Perversely, themoney that is spent addressing these problems is considered part of a nationsGross Domestic Product (GDP). Ergo, someone who contracts cancer from livingnear a factory producing toxic waste actually contributes to the GDP when they(or someone else) pays for their treatment. Law enforcement officers who mustgo after criminals become part of the GDP as well when they receive theirpaychecks. Couples who divorce over economic issues contribute to the GDP whenthey hire lawyers and pay court fees.

These are hardly ways to makesociety and the world a better place. Is there a better way? Some visionariesbelieve so and are working to bring it about.

These visionaries recognize thata major part of the problem with our current capitalist system is notcapitalism itself, but rather the way the exchange of goods and services arefacilitated i.e., money, or currency. Whether it is tangible cash, an amountrecorded in a bank ledger or other account, or invested in securities, moneycan be transferred easily. That is a definite advantage, but there aredownsides; money can be lost, stolen, taxed away (directly and indirectly),devalued and manipulated, and withheld when someone is prevented from earningor receiving it as is happening today as a result of the coronaviruspandemic. The consequences can be devastating.

The idea of barter comes to manypeoples minds, but there are reasons that money has largely replaced thetrading of livestock, handicrafts, produce, etc. Unless people have manydifferent skills and abilities in the production of things that others need, orare able to offer a wide range of services, the barter system is unlikely tosolve the problems of poverty and inequality. Barter also involves materialthings that can be lost, stolen or destroyed (and even taxed, as many have discovered).

Imagine an alternative:

Such innovations are alreadyunderway, and have been for some time. They are being made possible by rapidadvances in communications technology. And now that growing numbers of workingpeople have suddenly found themselves with a great amount of downtime, theyare starting to reach out to neighbors and their local communities, where suchinnovations usually get started because no amount of technology can replacethe human factor.

That human factor particularlyin the light of multiple (and even conflicting) points of view is where greatideas come from.

Dr. Albert Einstein reportedlysaid, Imagination is more important than Knowledge. In light of Dr. AbrahamMaslows famous Hierarchy of Needs (a review and explanation for theuninitiated is available here), imaginewhat humans might achieve if they were liberated from the need to earn aliving, but were still expected and motivated to strive for more by simplymaking choices and acting in ways that serve the greater good.

We all see it happening now, withthe popularity of humanely raised eggs, poultry and meat, recycling andrepurposing, reducing ones ecological footprint, roadside miniature lendinglibraries, community tool and vehicle share programs and more. In Portland,Oregon, homeowners are being offered incentives to provide shelters for homeless people on their property.Some small businesses specialize in the manufacture of new products fromexisting and/or previously used components. Entrepreneurial individuals are creating solutions for environmental problems.

Admittedly, so-called Utopian societies have failed in the past. Asfloundering and corrupt as American capitalism has gotten over the past fourdecades, it has not yet become the total and abject failure that was the lateU.S.S.R.s Socialist Workers State. Western capitalism is nonetheless a verylarge, unwieldy vessel sailing at a high rate of speed one that needs tochange its course fairly soon, if it is to survive.

As the Captain Edward Smith ofthe R.M.S. Titanic discovered too late, such sudden course changes aredifficult at best.

Perhaps what needs to be changedis not so much the system itself, but rather the means of exchange. Such changeneeds to be carried out in such a way that nobody goes homeless, hungry,without medical and dental care, and has access to education in any field. Atthe same time, the new system must encourage industry and innovation whilerespecting private property rights. Nothing would be confiscatory orredistributive, nor would taxes be assessed.

It sounds almost like BernieSanders Meets Ayn Rand. This has been one of the primary issues in recentelections: do we want or need the State to own and operate everything,distributing to each according to their needs while taxing from each,according to their abilities? Or do we want to do away with government andregulation altogether, and allow individuals and organizations to become aswealthy and powerful as possible, regardless of any harm in done the process?

What if a society could have thebest of both? What if one fed the other? What if, through Bernie-stylesocialist programs, more people were unleashed from having to have jobssimply to pay the bills in order to survive, and instead were free to pursuetheir passions, such as science, research, technology, engineering andinvention as well culture, humanities and the arts? Can one imagine the newRenaissance that might come about?

Such a system has the potential of generating wealth and well-being in aprivate, free-market system beyond Rands wildest dreams.

You dont have to look very far back in history to find examples. Would theworld have had the genius of Leonardo da Vinci without the patronage of theMedicis? Would we have heard the music of Franz Josef Haydn without PrinceEsterhazy?

Now, multiply those two examples by a few billion.

Would everyone throw themselvesinto their passions? No. Many may not even know what their passions are. Forthem, there are educational opportunities (which would bring their ownrewards), or they may decide to sit on the beach all day and as long as theydo no harm, thats fine. If they ever want something more, theyll find ways tomake the world a better place.

If not at least they wont go hungry and homeless. But really, earning thatsomething more would not be difficult under such a system. In fact, it wouldbe more difficult not to contribute in some way.

If the 1933 Harold Arlen YipHarburg song Paper Moon comesto mind, youre not alone. Indeed, some skepticism is warranted. Nonetheless,two communities, one in California and the other in Oregon, have been testingout such a comprehensive economic system, with considerable success. A devotedgroup in Portland has been considering such a system for at least four years,and it has generated significant attention around the world.

This groups website recentlycame online, where one can go to learn more about this alternative economicsystem in which there are no losers, and winners victories do not come at theexpense of someone else. Under such a system, disparities of wealth willcertainly still exist, but the kind of grinding poverty that causes hunger,disease, crime and other problems will not. Meanwhile, the barriers to peoplewho want to accumulate more will have been largely erased; there will truly beequal access to opportunity and tools to improve ones material lot in life forthose who choose to do so. Greed will still exist, but it will be harnessed and channeled intopositive outcomes for everyone.

Now that so many of us are underlockdown or quarantine and are starting to clearly see the problems that existin the current system, it is as good a time as ever to consider alternatives.

Learn more here.

Continued here:

Can The Coronavirus Potentially Lead To A More Humane And Effective Form Of Capitalism? - The Ring of Fire Network - The Ring of Fire Network

Armstrong: Liberty in the midst of a pandemic – Complete Colorado

The mortgage meltdown of 2008 was rough, but to me it seems that the last time life was so thoroughly upended was 9/11, nearly two decades ago. Since the first reports of positive tests for the new coronavirus (COVID-19) in Colorado on March 5, it feels like were living in a different world.

If youve been glued to your cable news or Twitter feed, you probably feel like youve been drinking from the proverbial firehouse. Whats a coronavirus, whats different about this one, whats its R naught, how likely are people to die from it, and what can we do, if anything, to beat it? For most of us the learning curve has been both steep and slippery, as even experts have struggled to get a handle on aspects of this disease.

Meanwhile, as government shuts down businesses across the state, the unemployment forms pile up, and people start to go stir-crazy from social distancing, a lot of us are wondering how far government should go in restricting peoples liberties. Is a heavy government hand really the only or best way to prevent needless death? And how should we weigh the harms of the disease against the harms of a devastated economy? Or is that question too horrible even to consider?

Bluntly, I dont have many definitive answers. And anyone who promises you easy answers to these questions is, well, lets just say they should get in line for some more toilet paper. What I think I can do is help set some context for fruitful ways to think about the questions.

Free-market advocates have pointed to the myriad ways that stupid government policies have hampered the response to the virus. For example, did you know that hospitals often have to (in effect) ask permission from their competitors in order to open new facilities and buy new equipment? Ridiculous. Indeed, one of the major steps that Governor Jared Polis and governors elsewhere took was to remove government barriers to the disease response, as by loosening regulations on hospitals and health professionals. The federal government notoriously tied up testing for the disease in bureaucratic red tapea profound failure.

Free-market advocates also have pointed to the crucial ways that private enterprise has stepped up to address the problem. As economist Tyler Cowen puts the point, Big business is helping America survive the coronavirus.

But even if we grant that politicians and bureaucrats have done a lot of really stupid things, and that business leaders have done many wonderful things to respond, it might still be the case that an important response to the virus (maybe the most important response) is the one by government. Thats the key question I want to consider here.

First, though, I need to dispel a common confusion. A lot of people, whether Progressive, conservative, or libertarian, see the fundamental issue as government power versus individual freedom. Often pitting power against freedom is a useful way to look at things, but it isnt the fundamental.

The fundamental is individual rights. Generally, although the form matters, government power exercised to protect rights is good, and an individual freely violating others rights is bad. The key point is theres nothing inherently suspect about government power; it depends on how and for what that power is used.

What does this have to do with the coronavirus? Here is the key point, as put by philosopher Michael Huemer of the University of Colorado at Boulder: Any individual who is at risk of carrying a communicable disease, such as COVID-19, is posing a risk of physical harm to others when he interacts with them. This potentially justifies government intervention, depending on details. In some contexts, government best preserves liberty by stopping people from infecting others. Your rights to publicly breathe out your germs may end where another persons lungs begin.

(Huemer actually is a libertarian anarchist. But he points out that most libertarians advocate government, and he thinks a private analogue to government properly may impose quarantines in certain circumstances. Im not a libertarian but I broadly agree with Huemer about the just use of force. I also recommend a video from the Ayn Rand Institute on this topic.)

What this principle does not do is give us easy answers for specific cases. A great deal depends on how contagious and deadly the virus is. We continually impose all sorts of risks on others, as by accidentally passing along the flu or by adding another vehicle to a busy road. If we knew the new coronavirus were as deadly as other coronaviruses or even a common flu, we certainly would not be talking about shutting down a huge chunk of the economy because of it. Unfortunately, COVID-19 seems to be quite a lot more contagious and deadly than more-common viral diseases, although, due to lack of widespread testing, we are to a large degree flying blind.

If you were hoping for a pat answer for what specifically government should do here, Im sorry, I cant give you one. What I can say is that individual rights matter and should set the framework for how government responds. I do think that current circumstances warrant some restrictions of movement.

Meanwhile, we can cheer on the people working on the new antivirals, vaccines, and expanded testing that promise to make social distancing and government quarantines a thing of the past.

Ari Armstrong writes regularly for Complete Colorado and is the author of books about Ayn Rand, Harry Potter, and classical liberalism. He can be reached at ari at ariarmstrong dot com.

comments

More:

Armstrong: Liberty in the midst of a pandemic - Complete Colorado

Armstrong: Polis just bet on individuals over harsher crackdown – Complete Colorado

Everyone I heard from fully expected Colorado Governor Jared Polis to issue a severe state-wide shelter in place order at his Sunday press conference.

George Brauchler seemed to think he would. Brauchler, recall, is a district attorney in the state and a prominent Republican who, in an alternate universe, might have been in the governors seat during all this. Shortly before Poliss media conference, Brauchler pleaded, Please do not issue any sweeping shelter-in-place order without first consulting with the agencies across the state who will be called upon to enforce such an order.

On Friday, Colorado Public Radios Ben Markus asked, Why Isnt Colorado Sheltering In Place Like Other States? During Sundays conference, several journalists seemed shocked that Polis did not issue such an order. Meanwhile, Colorados journalists have worried how to keep themselves in the essential services category and therefore exempt from any statewide crackdown. (Obviously I agree journalists need the freedom to keep working during this critical time.)

Rather than impose an extreme statewide crackdown, Polis instead did something remarkable, something that politicians often have trouble doing. He chose, at least to a substantial degree, to trust individuals to rise to the challenge, do the right thing, and do their part to keep Coloradans safe. Polis chose to lead with moral authority rather than the point of a government gun. And now it is up to us. It is up to you, me, and every other person in Colorado to act responsibly during the coronacrisis.

Polis said that the ultimate enforcer for physical distancing guidelines is not the state of Colorado, it is the grim reaper. To the degree that people act recklessly, they put their parents, grandparents, health-compromised friends and family members, and themselves at risk, Polis explained. The governor also said that he wants his measures to be practical for people to follow for a number of weeks.

The thrust of Poliss remarks on Sunday is that businesses need to do better to achieve physical distancing in the workplace. The way Polis put it is that so-called non-essential businesses should reduce their in-person workforces by 50 percent. He suggested that businesses go for telework to the extent feasible, and when people absolutely must come in that businesses do things like stagger shifts and ensure adequate physical separation among employees.

Make no mistake: Polis still has imposed some dramatic restrictions on peoples movements. Bars and restaurants are shut down except for takeout. Hair, nail, massage, and tattoo businesses are shut down. Social gatherings of over ten people are out. And he means the new workforce rules to be binding, not just recommendations. We should also remember that Polis still may issue more-severe emergency measures in the future. But, so far, Polis has not followed such states as California in issuing a shelter-in-place order, so in the scope of things he is applying a relatively light touch.

Polis is taking a bit of a gamble here. He must know that, if the death toll reaches anything like worst-case numbers, many people will criticize him for not taking an even more severe approach, and critics may not think too carefully about whether that harsher crackdown would have worked better. So those of us who think he did the right thing by holding back should be especially motivated to make his bet a winner.

Polis is taking flak from both sides, both from those who think hes close to an irresponsible anarchist for not imposing stricter controls and those who think he has strapped on the jack boots too tightly. I think both extremes are overreacting.

As Ive said, I do think some restrictions on gatherings are reasonable here to prevent the spread of infectious disease. As best as I can tell, the dominant view among health experts is that COVID-19, this dreadful new coronavirus, is highly contagious, quite a lot more deadly that the flu, and easily spread by people before they show any symptoms. Models of the potential exponential spread and damage of the disease are frankly terrifying. Theyre not Zombie Apocalypse terrifying or wipe out a quarter of the population terrifying, but they are maybe kill hundreds of thousands or millions of Americans terrifying.

So I for one intend to stay isolated with my family to the greatest degree possible. Id go even further than Polis and recommend that people not even go to grocery stores where delivery is available. If you dont have to be around other people, dont be. The life you save could be your loved ones. Or yours. Or mine.

The other main aspect of Poliss approach that I love is his emphasis on getting the hell out of this mess as quickly as we can. We cannot make distancing and economic shutdowns the new normal, he said. Right now we need to lock down fairly tightly to buy ourselves time to find the longer-term measures that will enable us to get back to near-normal.

The main thing that Polis emphasized, and I completely agree, is the need for mass testing. If doctors can more-carefully track the disease and isolate the sick even before they show symptoms, then most people can basically get back to normal. In this way, Polis said, we should strive to look more like South Korea or Taiwan than Italy. I think thats exactly right.

Polis has issued the call. Now it is up to you to answer.

Ari Armstrong writes regularly for Complete Colorado and is the author of books about Ayn Rand, Harry Potter, and classical liberalism. He can be reached at ari at ariarmstrong dot com.

comments

Read more:

Armstrong: Polis just bet on individuals over harsher crackdown - Complete Colorado

Is There Such a Thing as a Lutheran Novel? – Patheos

The best academic writing in the humanities, in my opinion, is the kind that makes a careful theoretical argument while simultaneously buttressing it with 3-4 deeply specific examples. In the closing pages of Ethics in the Conflicts of Modernity, Alasdair MacIntyre describes the growth in and practice of the virtues in the lives of four diverse individualsranging from Trinidadian socialist author C.L.R. James to U.S. Supreme Court justice Sandra Day OConnor. In Confessions of a Born-Again Pagan, Anthony Kronman discusses the latent Spinozist philosophy permeating the paintings of the Renaissance, the poetry of Walt Whitman, and the fiction of George Eliot. And in his titanic The Enchantments of Mammon: How Capitalism Became the Religion of Modernity, Eugene McCarraher traces the history of theological reception of capitalismboth positive and negativethrough the works of John Ruskin, Henry Ford, Ayn Rand, Peter Drucker, and countless others. The genius of this approach is that it demands so deep a knowledge of the field under investigation that one can sift the representative exemplars from the inferior imitations.

Joseph Bottums slim new volume, The Decline of the Novel, is a masterful example of this approach to inquiry. Through close readings of Sir Walter Scott, Charles Dickens, Thomas Mann, and Tom Wolfe, Bottum outlines a fascinating and original thesis: the novel, as a genre of fiction writing, is a distinctly Protestantphenomenon, one that centers on the spiritual journey of individual human beings rather than describing the broad drama of social order.

Specifically, Bottum distinguishes between the chanson fictionof Catholic society and the roman fictionof Protestant-dominated culture. The former type of fictionepitomized by texts like Chaucers Canterbury Talesand Cervantess Don Quixoteframes the central narrative conflict around the individuals performance of societal duties that transcend the individual self. The drama is as much communal as it is personal. The latteras reflected in the dominant trajectory of Western literatureunderstands conflict as a matter of individualprogress along some spiritual dimension or another, toward some kind of individualized resolution or realization. Dickenss David Copperfield carries the day once he grows to maturity and exercises his rational faculties in the proper manner, overcoming the deceptive forces that surround him; similarly, Wolfes Charlotte Simmons triumphs when she rejects the exploitative social patterns of her university setting and affirms her individual value and capacities.

That thesis, at least, feels intuitively correct. But it nevertheless seems to me that the particular disjunction upon which Bottums argument relies does not perfectly correspond to the distinction between Catholicand non-Catholic; more accurately, it seems to reflect the gap between Catholicand Calvinist. Though plenty of criticism has been levied against Max Webers seminal argument that Puritan salvation-anxiety drove the emergence of contemporary capitalism, one can surely speak of the Calvinist tendency to seek evidence of ones election to eternal life through ones good worksand, more broadly, ones desire to performsuch works. Thisnot the Protestant critique of Rome per seis the particular type of anxiety that animates the texts Bottum surveys, although the theological underpinnings never come fully into view.

Applying Bottums specific criteria, I find it difficult to conceive of a distinctly Anglicannovel, say, oras is relevant to mea uniquely Lutherannovel. (I would welcome thoughts on this front from my former professor and fellow Patheos blogger, Gene Veith, if he has any!) The existential anxiety and motif of spiritual progress that Bottum identifies as definitive characteristics of the Western novel dont seem to logically correlate with the Anglican and Lutheran traditions, both of which share a distinct sacramental and ecclesological consciousness absent from the Reformed paradigm. Im halfway tempted to suggest that the definitive narrative expression of Lutheran theology is the congregational hymna literary form harmonizing theological concerns with cultural ones (how else should one take Luthers pleato restrain the murderous Pope and Turk?) as well as one that invites the participation of both clergy and laity, But that doesnt seem to directly address Bottums questionwhat sort of fictionemerges from a given Christian tradition.

What say you, blog readers? Is the concept of a Lutheran novelor, more broadly, a non-Calvinist, yet Protestant novel intelligible? If so, where might one find such a text?

Continued here:

Is There Such a Thing as a Lutheran Novel? - Patheos

Bitcoin vs. Ethereum: What’s the Difference?

Bitcoin vs. Ethereum: An Overview

Ether (ETH), the cryptocurrency of the Ethereum network, is arguably the second most popular digital token after bitcoin (BTC). Indeed, as the second-largest cryptocurrency by market cap, comparisons between Ether and BTC are only natural.

Ether and bitcoin are similar in many ways: each is a digital currency traded via online exchanges and stored in various types of cryptocurrency wallets. Both of these tokens are decentralized, meaning that they are not issued or regulated by a central bank or other authority. Both make use of the distributed ledger technology known as blockchain. However, there are also many crucial distinctions between the two most popular cryptocurrencies by market cap. Below, we'll take a closer look at the similarities and differences between bitcoin and ether.

Bitcoin was launched in January of 2009. It introduced a novel idea set out in a white paper by the mysterious Satoshi Nakamotobitcoin offers the promise of an online currency that is secured without any central authority, unlike government-issued currencies. There are no physical bitcoins, only balances associated with a cryptographically secured public ledger. Although bitcoin was not the first attempts at an online currency of this type, it was the most successful in its early efforts, and it has come to be known as a predecessor in some way to virtually all cryptocurrencies which have been developed over the past decade.

Over the years, the concept of a virtual, decentralized currency has gained acceptance among regulators and government bodies. Although it isnt a formally recognized medium of payment or store of value, cryptocurrency has managed to carve out a niche for itself and continues to coexist with the financial system despite being regularly scrutinized and debated.

At the start of the cryptocurrency boom in 2017, Bitcoins market value accounted for close to 87% of the total cryptocurrency market.

Blockchain technology is being used to create applications that go beyond just enabling a digital currency. Launched in July of 2015, Ethereum is the largest and most well-established, open-ended decentralized software platform.

Ethereum enables the deployment of smart contracts and decentralized applications (dapps) to be built and run without any downtime, fraud, control or interference from a third party. Ethereum comes complete with its own programming language which runs on a blockchain, enabling developers to build and run distributed applications.

The potential applications of Ethereum are wide-ranging and are powered by its native cryptographic token, ether (commonly abbreviated as ETH). In 2014, Ethereum launched a presale for ether, which received an overwhelming response. Ether is like the fuel for running commands on the Ethereum platform and is used by developers to build and run applications on the platform.

Ether is used mainly for two purposesit is traded as a digital currency on exchanges in the same fashion as other cryptocurrencies, and it is used on the Ethereum network to run applications. According to Ethereum, people all over the world use ETH to make payments, as a store of value, or as collateral.

While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256).

More importantly, though, the Bitcoin and Ethereum networks are different with respect to their overall aims. While bitcoin was created as an alternative to national currencies and thus aspires to be a medium of exchange and a store of value, Ethereum was intended as a platform to facilitate immutable, programmatic contracts, and applications via its own currency.

BTC and ETH are both digital currencies, but the primary purpose of ether is not to establish itself as an alternative monetary system, but rather to facilitate and monetize the operation of the Ethereum smart contract and decentralized application (dapp) platform.

Ethereum is another use-case for a blockchain that supports the Bitcoin network, and theoretically should not really compete with Bitcoin. However, the popularity of ether has pushed it into competition with all cryptocurrencies, especially from the perspective of traders. For most of its history since the mid-2015 launch, ether has been close behind bitcoin on rankings of the top cryptocurrencies by market cap. That being said, it's important to keep in mind that the ether ecosystem is much smaller than bitcoin's: as of January 2020, ether's market cap was just under $16 billion, while bitcoin's is nearly 10 times that at more than $147 billion.

Read the original here:

Bitcoin vs. Ethereum: What's the Difference?

Vitalik Proposes Solution to ‘Embarrassing’ Lack of BitcoinEthereum Bridge – Cointelegraph

Ethereum co-founder Vitalik Buterin posted a tweet on March 24 claiming that the continuing lack of easy movement between the Ethereum and Bitcoin networks was embarrassing.

As a solution, he proposed putting resources into building a decentralized exchange (DEX), to act as a trustless bridge between the two.

Buterins plan calls for the DEX to be trustless and serverless, with a user experience very similar to Uniswap. Uniswap is a decentralized exchange that runs without an order book, instead relying on asset pairs with Ether as a fixed base currency.

As Cointelegraph reported, Uniswap has just announced plans to release a V2 update in Q2 2020, which will allow direct token-to-token swaps.

Decentralized exchanges have struggled to gain market share against traditional exchanges, despite being more closely aligned to the overall trustless ethos of cryptocurrency. Part of the issue has been a lack of liquidity, although a dedicated BitcoinEhereum DEX supported by Buterin may well see greater uptake.

Vitalin suggested further suggested that Bitcoin was not the only potential destination for a DEX bridge from Ethereum, and other blockchain ecosystems should also be up for consideration.

Buterin specifically mentioned Zcash as one example, saying that he has already had discussions to this end with Zooko Wilcox, CEO of Zcash-creators, the Electric Coin Company. However, he admitted that they could both work harder to turn such talk into action.

Visit link:

Vitalik Proposes Solution to 'Embarrassing' Lack of BitcoinEthereum Bridge - Cointelegraph

Why Polynomial Commitments Might Be a ‘Breakthrough’ for Ethereum 2.0 – CoinDesk – CoinDesk

The Ethereum community now has a roadmap, albeit a confusing one.

Dropped Wednesday, Ethereum co-founder Vitalik Buterins state of the network map helps contextualize the next five to 10 years for a global community of 20,000 developers while highlighting a key issue for the blockchains next version: scalability.

The Eth 2.0 research team is now leaning into a new concept called polynomial commitments to reduce the data used per computation on the network, according to a March 17 blog post by researcher Danny Ryan.

Dubbed magic math by Buterin, polynomial commitments are being eyed as a way to verify the state of the network at low computational cost, a key goal of the future network.

Still, Buterins map tags his magic math for network integration not until at least the third phase in the multi-year push to Eth 2.0.

Polynomial commitments could be the major breakthrough weve been looking for, Ryan said, specifically regarding the storage of account data in the next version of Ethereum.

The Ethereum Foundation did not respond to a request for comment by press time.

Magic math

Polynomial commitments are similar to the polynomials we all came to learn and love in elementary school: a math expression with both variables and coefficients (i.e., Y=2X).

But, again, this is magic math so its not quite so simple.

Buterin describes polynomial commitments as a sort of hash of some polynomial P(x) with the property that you can perform arithmetic checks on hashes. The original paper on polynomial commitments, meanwhile, synthesizes the math scheme as six algorithms that show proof of an event occurring with as little computing data as possible.

We suggest replacing Merkle trees by magic math called polynomial commitments to accumulate blockchain state, Buterin said in the Ethereum Foundation blog post. Benefits include reducing the size of stateless client witnesses (excluding contract code and state data) to near zero.

(For the mathematically inclined, a three-part series on polynomial commitments hosted by Eth 2.0s Justin Drake can be found below.)

The blockchain state

Blockchains record both the ins and outs users create when transacting. On the whole, blockchain accounting systems come in two kinds: the Unspent Transaction Output (UTXO) model and the account-based model. Bitcoin uses the former while Ethereum uses the latter.

When a user wishes to spend bitcoin in the UTXO model, the transaction drags along with it the entire history of those coins, which is then checked by every peer on the network.

The account model, on the other hand, records only the transaction between the two peers while directing questions of the transaction's validity to the Ethereum Virtual Machine (EVM) in conjunction with a proof of the transaction. The EVM executes state changes the current accounts and balances of the blockchain on behalf of users.

Each block on Ethereum which binds transactions into just that, a block also contains a proof, a Merkle tree, which connects itself to the beginning of the networks history. This proof contains the receipt of the state referenced above and is needed for the EVM to execute a transaction.

This last part has been a sticky issue for Ethereum, however.

Why? Merkle trees are data-efficient, yet not data-efficient enough for Eth 2.0s ambitions. This is where the magic happens.

The current Merkle tree setup takes about 0.5 MB per transaction. Ryan estimates polynomial commitment schemes would reduce the weight of state proofs to between 0.001 and 0.01 MB. For a network that recently averages around 700,000 transactions per day, the savings in terms of data computation add up.

As such the idea of a stateless client has been in the works since at least October 2017 to reduce the amount of data used for ethereums big upgrade.

Multiple projects outside of Ethereum also lean on polynomial commitments in their own way, including Zcashs zero-knowledge proof, Halo.

Buterin said his implementation of polynomial commitments remains one of many. Moreover, its still in the research phase.

Although incredibly promising, some of this research and magic math is very new. We need to spend more time better understanding the complexities and tradeoffs, as well as just getting more eyes on this new and exciting technique, Ryan concluded.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

See the article here:

Why Polynomial Commitments Might Be a 'Breakthrough' for Ethereum 2.0 - CoinDesk - CoinDesk

AVA Labs Wants to Be Ethereum 2.0’s Testnet, and Then Some – Crypto Briefing

Headed by Cornell professorEmin Gn Sirer, AVA Labs is building a next-generation blockchain that is working to become the so-called AWS of Finance. And even in a crypto community deeply opposed to Amazon, the highly scalable technology may come out on top. And it might bring Ethereum with it.

The AVA blockchain is built using a novel consensus mechanism launched in 2018 calledAvalanche. It boasts high throughputs, malleability, and allows entrepreneurs full control of any crypto project built on top of the network.

AVA Labs Inc.is the joint venture between Sirer and co-founderKevin Sekniqibuilt on top of the AVA network. In an interview with Sekniqi, he broke down how developers, users, and entrepreneurs could manipulate the AVA blockchain to achieve a wide variety of uses.

AVA is three tiers of user control, said Sekniqi. First, theres the network layer, the middle layer, which would be the actual blockchain or virtual machine, and then theres the application layer.

Ethereum has a similar hierarchy, but it falls short of its ability to be customized at every layer, said Sekniqi. In many ways, however, the second-largest blockchain network opened the door to flexible crypto networks. And AVA wants to continue in this same vein.

By allowing developers to interact and adapt every layer of the network to their specific needs, AVA offers unparalleled customizability. These needs could range from supply chain management, tokenized bonds or gold, fundraising, and everything in between. Plus, the advanced functionality may reveal never-before-seen applications.

Once launched, the swiss army knife blockchain could overtake many specialized crypto networks. And already theyve been turning heads.

In 2019, AVA Labsraised $6 million from noted crypto investors Polychain, MetaStable, and Andreessen Horowitz. But Sekniqi said that though the million-dollar figures look large, the project only raises exactly what it needs.

The money appears well spent so far, too.

The funds we raised have been used to build out some of the core technologies, said Sekniqi. And the mainnet is just one milestone. We have a lot of activity coming out in 2020.

The primary task at the moment is to convince developers to experiment on the testnet.

To attract the largest developer community in blockchain, the team built out an Ethereum Subnet calledAthereum. A friendly fork, it brings over all the rich developer tools like Metamask, Truffle, MyEtherWallet, and others to allow them to operate within AVA comfortably.

The goal is to expose a tight-knit community to AVAs high throughputs, low finality, and the security of thousands of validators.

Were not trying to be an Ethereum competitor, by any means, said Sekniqi. Instead, we want to be a testnet for Ethereum 2.0.

The team has also opened up theircodebase, funneled communications over to a growingDiscord channel, and has been offering webinars on the AVA technology. The webinars, though small, have filled up quickly, said Sekniqi.

They have launched a Developer Accelerator Program to entice developers to comb the code for bugs and build native dApps as well.

The AVA Labs site reports bounties of up to $50,000 for any bugs found in the code.

As for the future, Sekniqi mentioned that there is a token offering on the cards, but couldnt divulge much more than that. Readers can expect a mainnet launch later this year.

Read more:

AVA Labs Wants to Be Ethereum 2.0's Testnet, and Then Some - Crypto Briefing

Analyst: Ethereum Prepares for Massive 95% Move Against BTC, But Which Direction? – newsBTC

Ethereum started off 2020 as bullish as can be, outperforming BTC and other crypto assets by a large margin.

The top altcoin in the crypto market may soon make a massive 95% move against Bitcoin, according to one analyst, but the direction of that move is still up in the air, although theyre leaning heavily toward a chart pattern formation resolving to the downside.

Following the boom in the decentralized finance movement in late 2019 and early 2020, all signs pointed to Ethereum going on a powerful rally.

The altcoin kicked off the year with an over 100% rally, doubling in price and helping to lead the rest of the market toward what are now in hindsight the years highs.

Related Reading | Ethereum Sets Record for Most Bullish String of Weekly Price Action Yet

Ethereum and other altcoins not only broke out of their downtrends on their USD pairs, but they also saw a breakout against Bitcoin on BTC pairs.

The latest price action has caused Ethereum to form a massive, multi-year symmetrical triangle on the ETH//BTC trading pair, which based on the formations measure rule would have a 95% rise or drop for a target.

The triangle is currently reaching its apex, suggesting this powerful breakout is imminent. However, symmetrical triangles break up almost as often as they break downward.

The crypto analyst who spotted this massive formation and potential move believes that the latest price action suggests that the formation is more likely than not to break down.

According to the trader, Ethereum has been trading within a bear channel on the ETH/BTC pair for an extended period, indicating that down is the probable direction.

Ethereum and other large-cap altcoins often are leading indicators for the rest of the crypto market, and in particular, the altcoins space.

The number two cryptocurrency by market cap showing signs of falling against Bitcoin could signal a worse drop across the wider altcoin market.

The total altcoin market cap against BTC is also in a multi-year formation, however, this pattern looks to be more descending in nature and not symmetrical like Ethereum.

Related Reading | Altcoin Market Forms Cryptos Most Dangerous Pattern

Descending triangles in the crypto market have in the past been notably deadly. Its the same pattern that sent Bitcoin from $6,000 to $3,000, then again from $13,000 to $6,000.

Now, its appearing in the altcoin market, and it could cause the assets to be decimated by Bitcoin dominance in the days ahead.

View original post here:

Analyst: Ethereum Prepares for Massive 95% Move Against BTC, But Which Direction? - newsBTC

EOS, Ethereum and Ripples XRP Daily Tech Analysis 25/03/20 – Yahoo Finance

EOS

EOS rose by 2.24% on Tuesday. Following on from a 7.50% rally on Monday, EOS ended the day at $2.3497.

A choppy start to the day saw EOS rise from an early morning intraday low $2.2821 to a mid-morning intraday high $2.3820 before hitting reverse.

Steering well clear of the major support and resistance levels, EOS fell back to sub-$2.30 levels before making a move.

Finding support late on, EOS bounced back to $2.36 levels before easing back.

At the time of writing, EOS was down by 1.20% to $2.3214. A bearish start to the day saw EOS fall from an early morning high $2.3484 to a low $2.3128.

EOS left the major support and resistance levels untested early on.

EOS would need to move through to $2.34 levels to bring the first major resistance level at $2.3938 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.3484.

Barring another extended rally, the first major resistance level at $2.3938 would likely limit any upside.

Failure to move back through to $2.34 levels could see EOS slide deeper into the red.

A fall back through the morning low $2.3128 would bring the first major support level at $2.2939 back into play.

Barring another crypto meltdown, however, EOS should steer clear of the second major support level at $2.2380.

Major Support Level: $2.2380

Major Resistance Level: $2.3938

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rose by 1.46% on Tuesday. Following on from a 12.01% rally on Monday, Ethereum ended the day at $139.00.

A mixed start to the day saw Ethereum fall to an early morning intraday low $133.04 before making a move.

Steering clear of the first major support level at $124.80, Ethereum rallied to a late morning intraday high $144.16.

Ethereum broke through the first major resistance level at $143.60 before falling back to sub-$135 levels.

Finding support late on, however, Ethereum broke back through to $140 levels before ending the day at $139.00.

At the time of writing, Ethereum was up by 0.05% to $139.69. A mixed start to the day saw Ethereum fall to an early morning low $137.00 before striking a high $142.00.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to move through to $140 levels to support a run at the first major resistance level at $144.43.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $142.00.

Barring a broad-based crypto rebound, resistance at $140 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $140 levels could see Ethereum fall back into the red.

A fall back through to sub-$138.70 levels would bring the first major support level at $133.31 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$130 support levels.

Major Support Level: $133.31

Major Resistance Level: $144.43

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 2.29% on Tuesday. Following on from a 7.77% rally from Monday, Ripples XRP ended the day at $0.16290.

A choppy start to the day saw Ripples XRP slide to an early morning intraday low $0.15742 before finding support.

Steering clear of the first major support level at $0.1488, Ripples XRP rallied to a late morning intraday high $0.16400.

Falling short of the first major resistance level at $0.1661, Ripples XRP slid back to sub-$0.1590 levels.

Finding support late on, however, Ripples XRP broke back through to $0.16 levels to deliver the upside on the day.

At the time of writing, Ripples XRP was down by 0.60% to $0.16193. A mixed start to the day saw Ripples XRP fall to an early morning low $0.16075 before striking a high $0.16399.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through the morning high $0.16399 to support a run at the first major resistance level at $0.1655.

Support from the broader market would be needed, however, for Ripples XRP to break out from Tuesdays high $0.16400.

Barring a broad-based crypto rebound, the first major resistance level at S0.1655 would likely cap any upside.

Failure to move back through the morning high $0.16399 could see Ripples XRP fall deeper into the red.

A fall back through to sub-$0.1615 levels would bring the first major support level at $0.1589 into play.

Barring an extended crypto sell-off, however, Ripples XRP should steer clear of sub-$0.15 levels on the day.

The second major support level at $0.1549 should limit any downside on the day.

Major Support Level: $0.1589

Major Resistance Level: $0.1655

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

See the rest here:

EOS, Ethereum and Ripples XRP Daily Tech Analysis 25/03/20 - Yahoo Finance

Ethereum (ETH) Price Shows Bear Flag, Expected to Head For $100 – U.Today

News

Wed, 03/25/2020 - 19:30

Bitcoin difficulty is on track to drop by more than 16 percent, which would be the second-largest negative adjustment in its entire existence. The good news for the bulls is that it will most likely mark a local BTC price bottom.

Must Read

The coronavirus pandemic that rattled global markets didnt spare Bitcoin (BTC). After the March 12 price crash, many small miners got backed into a corner.

Bitcoins hashrate, which displays the cumulative power of the network, crashed nearly 40 percent in lockstep with the price. It is currently below 100 Ehash/s, with the halving approaching in less than two months.

That said, the mammoth-size difficulty adjustment, which is going to happen at around 11 PM EST, is going to provide much-needed relief for miners.

Must Read

The largest difficulty drop to date (18 percent) took place on Oct. 30, 2011. Back then, BTC was changing hands at just $3.12 after shedding about70 percent of its value in just three months. Since then, BTC skyrocketed by more than 630,000 percentby the end of 2017.

While such humungous gains are most certainly out of reach for an already established asset class, the 15 percent difficulty drop that took place on Dec. 3, 2018, could indicate where BTC is headed next if history is any guide. The leading coin rallied by more than 300 percent in the first half of 2019 before retracing its stellar gains.

Go here to read the rest:

Ethereum (ETH) Price Shows Bear Flag, Expected to Head For $100 - U.Today