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“Fortune favors the brave”*…

Cryptonauts

History is filled with almosts. With those who almost adventured, who almost achieved, but ultimately, for them it proved to be too much. Then, there are others. The ones who embrace the moment, and commit. And in these moments of truth . . . they calm their minds and steel their nerves with four simple words that have been whispered by the intrepid since the time of the Romans. Fortune favours the brave.

Adam Tooze been mulling these lines ever since he first saw the commercial for crypto.com done by Matt Damon during a football game back in the autumn of 2021:

Now he unpacks the backstory…

The phrase “fortune favors the brave” is generally attributed to Pliny the Elder, the obsessive scholar and Roman Fleet commander. He uttered it on the fateful night of August 24 79 AD when the volcano Vesuvius erupted and buried Herculaneum and Pompeii. As recalled 25 years later, at the request of Tacitus, by his nephew Pliny the Younger, Pliny the Elder ignored the advice of his helmsman and steered directly towards the eruption, hoping to pull off a famous rescue. Instead, he was overwhelmed, lost control of the situation and finally, in ridiculous circumstances, succumbed to the fumes, becoming one of the thousands of casualties…

You might say that evoking Pliny’s famous phrase was more apt than Damon or crypto.com realized.

But Vesuvius does not belong only to the classical tradition. In the 18th century, the volcano would become one of the quintessential sites of the romantic sublime…

A fascinating “close read” of an influential TV spot, its intellectual antecedents, and its (intended and unintended) message: “Fortune Favors the Brave: the making of crypto ideology, Vesuvius, and the romantic sublime,” from @adam_tooze.

* Pliny the Younger, “quoting” Pliny the Elder

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As we iron out the irony, we might recall that, on this date in 2008, the Dow Jones Average fell 8%, continuing a slide that had begun with the collapse of Lehman Brothers and other smaller financial firms. The DJI was at 8,149.09, roughly the midpoint (in both timing) of the sub-prime lending crisis and the Dow’s 54% fall to 6,469.95 (in March, 2009) from its peak of 14,164 on October 9, 2007. The recovery, of course, took much longer.

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Written by (Roughly) Daily

December 1, 2022 at 1:00 am

“First study the science, and then practice the art which is born of that science”*…

In the wake of the collapse of FTX, the world of Decentralized Finance (DeFi) is in chaos; some wonder if crypto is dead (and here). But the underlying technology, the blockchain, still has much to offer, Dimitry Mihaylov argues– especially in the realm of science and innovation…

In the last few years, we have seen several use cases of the blockchain. From gaming to education, nothing has been off-limits for this revolutionary technology. Today, we see it emerging into more significant and nuanced fields across the spectrum. DeSci, or Decentralized Science, is one of the trends that has seen blockchain moving into the critical field of scientific research and development.

DeSci is an example of practical blockchain usage in order to establish a public infrastructure for creating, funding, crediting, reviewing, storing, and distributing scientific knowledge fairly and equitably. It’s an ecosystem where scientists and research contributors are incentivized for sharing their studies and knowledge. It then makes that knowledge publicly accessible to anyone across the Web.

DeSci is based on the fundamental ideology that scientific knowledge should be accessible and available to anyone, and the process of any scientific research should be transparent. It’s a rather revolutionary Web3 movement that can transform the legacy practices of scientific research and funding within academia. It also facilitates the work of innovative companies by providing them with direct contact with the best scientists.

The full acceptance of DeSci in the global scientific community can create a significant shift in research accessibility and funding – as knowledge will no longer be stored in private repositories. DeSci creates a sustainable model where scientists receive the true value and credit of their work, and knowledgeable data is available for anyone across the world.

His case in full: “How Decentralized Science (DeSci) lowers the Cost of Innovation and Implementation,” from @hackgernoon.

Apposite: “Decentralization.”

For the contra view: “The Underlying Technology Shibboleth” (“The only innovation we’ve seen from blockchain technology is for defrauding investors, facilitating capital destruction, and creating transient, unfair, chaotic dark markets for speculating on hot air”…)

* Leonardo da Vinci

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As we look for wheat in the chaff, we might recall that it was on this date in 1895 that America’s first auto race, the Thanksgiving Day Chicago Times-Herald race, was held. There were six contestants, four cars and two motorcycles, competing on a cold and snowy day. Two of the competitors were electric, and quickly failed in the cold. The other four finished the 54 mile (to Evanston and back) circuit; it was won by Frank Duryea‘s Motorized Wagon… though motorcycles (which had appeared in the U.S. only two years earlier) were also winners after a fashion, as they received a great deal of publicity. Electric cars… not so much.

Frank Duryea’s Motorized Wagon (source)

Written by (Roughly) Daily

November 28, 2022 at 1:00 am

“The cyborg would not recognize the Garden of Eden; it is not made of mud and cannot dream of returning to dust.”*…

Here I had tried a straightforward extrapolation of technology, and found myself precipitated over an abyss. It’s a problem we face every time we consider the creation of intelligences greater than our own. When this happens, human history will have reached a kind of singularity — a place where extrapolation breaks down and new models must be applied — and the world will pass beyond our understanding.

Vernor Vinge, True Names and Other Dangers

The once-vibrant transhumanist movement doesn’t capture as much attention as it used to; but as George Dvorsky explains, its ideas are far from dead. Indeed, they helped seed the Futurist movements that are so prominent today (and here and here)…

[On the heels of 9/11] transhumanism made a lot of sense to me, as it seemed to represent the logical next step in our evolution, albeit an evolution guided by humans and not Darwinian selection. As a cultural and intellectual movement, transhumanism seeks to improve the human condition by developing, promoting, and disseminating technologies that significantly augment our cognitive, physical, and psychological capabilities. When I first stumbled upon the movement, the technological enablers of transhumanism were starting to come into focus: genomics, cybernetics, artificial intelligence, and nanotechnology. These tools carried the potential to radically transform our species, leading to humans with augmented intelligence and memory, unlimited lifespans, and entirely new physical and cognitive capabilities. And as a nascent Buddhist, it meant a lot to me that transhumanism held the potential to alleviate a considerable amount of suffering through the elimination of disease, infirmary, mental disorders, and the ravages of aging.

The idea that humans would transition to a posthuman state seemed both inevitable and desirable, but, having an apparently functional brain, I immediately recognized the potential for tremendous harm.

The term “transhumanism” popped into existence during the 20th century, but the idea has been around for a lot longer than that.

The quest for immortality has always been a part of our history, and it probably always will be. The Mesopotamian Epic of Gilgamesh is the earliest written example, while the Fountain of Youth—the literal Fountain of Youth—was the obsession of Spanish explorer Juan Ponce de León.

Notions that humans could somehow be modified or enhanced appeared during the European Enlightenment of the 18th century, with French philosopher Denis Diderot arguing that humans might someday redesign themselves into a multitude of types “whose future and final organic structure it’s impossible to predict,” as he wrote in D’Alembert’s Dream

The Russian cosmists of the late 19th and early 20th centuries foreshadowed modern transhumanism, as they ruminated on space travel, physical rejuvenation, immortality, and the possibility of bringing the dead back to life, the latter being a portend to cryonics—a staple of modern transhumanist thinking. From the 1920s through to the 1950s, thinkers such as British biologist J. B. S. Haldane, Irish scientist J. D. Bernal, and British biologist Julian Huxley (who popularized the term “transhumanism” in a 1957 essay) were openly advocating for such things as artificial wombs, human clones, cybernetic implants, biological enhancements, and space exploration.

It wasn’t until the 1990s, however, that a cohesive transhumanist movement emerged, a development largely brought about by—you guessed it—the internet…

[There follows a brisk and helpful history of transhumanist thought, then an account of the recent past, and present…]

Some of the transhumanist groups that emerged in the 1990s and 2000s still exist or evolved into new forms, and while a strong pro-transhumanist subculture remains, the larger public seems detached and largely disinterested. But that’s not to say that these groups, or the transhumanist movement in general, didn’t have an impact…

“I think the movements had mainly an impact as intellectual salons where blue-sky discussions made people find important issues they later dug into professionally,” said Sandberg. He pointed to Oxford University philosopher and transhumanist Nick Bostrom, who “discovered the importance of existential risk for thinking about the long-term future,” which resulted in an entirely new research direction. The Center for the Study of Existential Risk at the University of Cambridge and the Future of Humanity Institute at Oxford are the direct results of Bostrom’s work. Sandberg also cited artificial intelligence theorist Eliezer Yudkowsky, who “refined thinking about AI that led to the AI safety community forming,” and also the transhumanist “cryptoanarchists” who “did the groundwork for the cryptocurrency world,” he added. Indeed, Vitalik Buterin, a co-founder of Ethereum, subscribes to transhumanist thinking, and his father, Dmitry, used to attend our meetings at the Toronto Transhumanist Association…

Intellectual history: “What Ever Happened to the Transhumanists?,” from @dvorsky.

See also: “The Heaven of the Transhumanists” from @GenofMod (source of the image above).

Donna Haraway

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As we muse on mortality, we might send carefully-calculated birthday greetings to Marvin Minsky; he was born on this date in 1927.  A biochemist and cognitive scientist by training, he was founding director of MIT’s Artificial Intelligence Project (the MIT AI Lab).  Minsky authored several widely-used texts, and made many contributions to AI, cognitive psychology, mathematics, computational linguistics, robotics, and optics.  He holds several patents, including those for the first neural-network simulator (SNARC, 1951), the first head-mounted graphical display, the first confocal scanning microscope, and the LOGO “turtle” device (with his friend and frequent collaborator Seymour Papert).  His other inventions include mechanical hands and the “Muse” synthesizer.

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“This City is what it is because our citizens are what they are”*…

Joel Stein on the ascendance of Miami…

The last time Miami was relevant, it wasn’t important. In the 1980s, Miami provided nothing more than drugs, clubs, pastel blazers, jai alai gambling and, most notably, a hit TV show about all four.

But now Miami is the most important city in America. Not because Miami stopped being a frivolous, regulation-free, climate-doomed tax haven dominated by hot microcelebrities. It became the most important city in America because the country became a frivolous, regulation-free, climate-doomed tax haven dominated by hot microcelebrities…

How a refuge for the retired, divorced, bankrupt, and unemployed has evolved into a “paradise of freedom”: “How Miami became the most important city in America,” from @thejoelstein in @FinancialTimes. (A “gifted” article, so should be free of the paywall.)

An apposite look at ascendant cities worldwide, but especially in Africa: “Africa’s rising cities” (also “gifted”).

* Plato

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As we investigate epicenters, we might recall that it was on this date in 1986 that figure skater Debi Thomas, a Stanford undergraduate, became the first African American to win the Women’s Singles event in the U.S. National Figure Skating Championship competition. She went on to win a gold medal in the World Championships later that year, and then (after battling Achilles tendinitis in both ankles) to earn a Bronze in the 1988 Olympics.

Thomas then attended medical school at Northwestern, and has since practiced as a surgeon.

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“Create more value than you capture”*…

A thoughtful consideration of Web 3.0 from the always-insightful Tim O’Reilly

There’s been a lot of talk about Web3 lately, and as the person who defined “Web 2.0” 17 years ago, I’m often asked to comment. I’ve generally avoided doing so because most prognostications about the future turn out to be wrong. What we can do, though, is to ask ourselves questions that help us see more deeply into the present, the soil in which the future is rooted. As William Gibson famously said, “The future is already here. It’s just not evenly distributed yet.” We can also look at economic and social patterns and cycles, using as a lens the observation ascribed to Mark Twain that “history doesn’t repeat itself, but it rhymes.”

Using those filters, what can we say about Web3?…

There follows a fascinating– and educational– analysis of the state of play and the issues that we face.

Tim concludes…

Let’s focus on the parts of the Web3 vision that aren’t about easy riches, on solving hard problems in trust, identity, and decentralized finance. And above all, let’s focus on the interface between crypto and the real world that people live in, where, as  Matthew Yglesias put it when talking about housing inequality, “a society becomes wealthy over time by accumulating a stock of long-lasting capital goods.” If, as Sal Delle Palme argues, Web3 heralds the birth of a new economic system, let’s make it one that increases true wealth—not just paper wealth for those lucky enough to get in early but actual life-changing goods and services that make life better for everyone.

Why it’s too early to get excited about Web3,” from @timoreilly.

See also: “My first impressions of web3” from Matthew Rosenfeld (AKA Moxie Marlinspike, @moxie, founder of @signalapp).

* Tim O’Reilly

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As we focus on first principles, we might recall that it was on this date in 2007 that Steve Jobs introduced the iPhone at MacWorld. The phone wasn’t available for sale until June 29th, occasioning one of the most heavily anticipated sales launches in the history of technology. Apple sold 1.4 million iPhones in 2007, steadily increasing each year; estimated sales in 2021 are 240-250 million.

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