Just as vast and complex, and intrinsically linked to the supply chain, is another sprawling but mostly invisible system

Author : ealimkhanki
Publish Date : 2021-01-07 10:33:11


Just as vast and complex, and intrinsically linked to the supply chain, is another sprawling but mostly invisible system

“I don’t think it’s that crazy to see a $100,000 Bitcoin price by the end of 2021,” Pompliano said. “And if we continue to get bigger and bigger buyers … if this kind of tips over and all of the sudden it becomes kind of a consensus trade, it wouldn’t surprise me to see something even higher than $100,000.”

Another Bitcoin bull, recently told Yahoo Finance that “Everyone should put 2% to 3% of their net worth in Bitcoin.” There’s no better time to jump in than today. And if you still think it’s too complicated, or you just want to shrug your shoulders and act like you don’t need to care. Then make way for the New Rich.

In February 2011, Bitcoin’s price crossed the $1 threshold. “For its first few years as it grew, its price was under $2,” Bitcoin bull Kris Marszalek tells money.usnews.com. “In June 2011, it hit its first bubble, rocketing to around $31 before sinking back down to the single-digit range.”

Welcome to No One’s Driving — a column by novelist and tech writer Tim Maughan about how to understand a world governed by systems and technologies that are spiraling out of control.

Most of us do not spend a lot of time thinking about the huge, complex systems that keep our technologically dependent society running. And with very good reason. It takes a certain amount of faith and belief — in ourselves, in capitalism, in the digital platforms that mediate our interactions with it, and in the infrastructures that support all of the above — in order to wake up and get through every day. But eating breakfast, pulling on our business-casual Zoom-appropriate shirts — all those mundane acts are made possible by an almost unfathomably complex, algorithmically calibrated, partly automated, and partly sweatshop-labor-dependent global supply chain.

The investor also said that Janet Yellen, President-elect Joe Biden’s pick for treasury secretary, was “notorious” for tolerating higher levels of inflation and that this could also push the coin’s price higher.

It’s hard to see where the value is heading for Bitcoin, as only 21 million Bitcoins will ever be produced. Today, however, some investors think it could be valued at $100,000 by the end of 2021.

I am here to tell you that the reason so much of the world seems incomprehensible is that it is incomprehensible. From social media to the global economy to supply chains, our lives rest precariously on systems that have become so complex, and we have yielded so much of it to technologies and autonomous actors that no one totally comprehends it all.

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y traffics in one of the other main themes of cyberpunk fiction: androids (or humanoids as they are sometimes called), the artificial intelligence that powers them, and the fear of it all from the humans who created them. The game’s story runs parallel to that of the book, but the most important parts of the lore hold true for both: replicants are engineered by humans to do various tasks, but if they get out of line, a special group of police known as Blade Runners is sent to ‘retire’ them. But to retire them, the police must first find them, using the Voight-Kampff test to tell the replicants apart from humans.

There are currently over 17 million shipping containers in circulation globally, and at any given time, about 5 or 6 million shipping containers cross the sea. The U.S. alone imports over 20 million shipping containers’ worth of products a year. While it’s common to talk about iPhones and high-end sneakers when we talk about imports from China and Asia, the truth is the vast majority of those containers are stuffed which much more mundane goods: socks, umbrellas, pencils, paper, packing materials, bedsheets, fruit, car parts, frozen food, pharmaceuticals — the endless inventory of physical items that make our modern lives possible.

In other words: No one’s driving. And if we hope to retake the wheel, we’re going to have to understand, intimately, all of the ways we’ve lost control. This is the first entry in a series — called, yes, No One’s Driving — that aims to do exactly that. Each month, we’ll examine a technological system that has grown too complex to be understood by, well, just about any one person, and break down how it has spiraled out of control, why that is dangerous, and what we might do about it.

Crypto investor Anthony Pompliano told CNBC that demand for the coin was rapidly outpacing supply, especially after its “halving” in May, when the number of Bitcoins awarded to miners was cut in half. This process occurs roughly every four years and serves to limit the supply of Bitcoin coming into the market.

Bitcoin is in that stage where most people are confused whenever you mention it. Within our lifetime that isn’t going to be the case. The question will steer from: “What is Bitcoin?” to “Where were you when you decided not to invest?” Especially with how uncertain the US dollar is, smart investors will start to put their money in more reliable places, like Bitcoin.

One of the dominant themes of the last few years is that nothing makes sense. Donald Trump is president, QAnon has mainstreamed fringe conspiracy theories, and hundreds of thousands are dead from a pandemic and climate change while many Americans do not believe that the pandemic or climate change are deadly. It’s incomprehensible.

Another Bitcoin bull, recently told Yahoo Finance that “Everyone should put 2% to 3% of their net worth in Bitcoin.” There’s no better time to jump in than today. And if you still think it’s too complicated, or you just want to shrug your shoulders and act like you don’t need to care. Then make way for the New Rich.



Category : general

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