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Contra Robert Shiller on Cryptocurrencies – Article by Adam Alonzi

Contra Robert Shiller on Cryptocurrencies – Article by Adam Alonzi


Adam Alonzi

While warnings of caution can be condoned without much guilt, my concern is critiques like Dr. Shiller’s (which he has since considerably softened) will cause some value-oriented investors to completely exclude cryptocurrencies and related assets from their portfolios. I will not wax poetically about the myriad of forms money has assumed across the ages, because it is already well-covered by more than one rarely read treatise. It should be said, though it may not need to be, that a community’s preferred medium of exchange is not arbitrary. The immovable wheels of Micronesia met the needs of their makers just as digital stores of value like Bitcoin will serve the sprawling financial archipelagos of tomorrow. This role will be facilitated by the ability of blockchains not just to store transactions, but to enforce the governing charter agreed upon by their participants.

Tokens are abstractions, a convenient means of allotting ownership. Bradley Rivetz, a venture capitalist, puts it like this: “everything that can be tokenized will be tokenized the Empire State Building will someday be tokenized, I’ll buy 1% of the Empire State Building, I’ll get every day credited to my wallet 1% of the rents minus expenses, I can borrow against my Empire State Building holding and if I want to sell the Empire State Building I hit a button and I instantly have the money.” Bitcoin and its unmodified copycats do not derive their value from anything tangible. However, this is not the case for all crypto projects. Supporters tout its deflationary design (which isn’t much of an advantage when there is no value to deflate), its modest transaction fees, the fact it is not treated as a currency by most tax codes (this is changing and liable to continue changing), and the relative anonymity it offers.  

The fact that Bitcoin is still considered an asset in most jurisdictions is a strength. This means that since Bitcoin is de facto intermediary on most exchanges (most pairs are expressed in terms of BTC or a major fiat, many solely in BTC), one can buy and sell other tokens freely without worrying about capital gains taxes, which turn what should be wholly pleasurable into something akin to an ice cream sundae followed by a root canal. This applies to sales and corporate income taxes as well. A company like Walmart, despite its gross income, relies on a slender profit margin to appease its shareholders. While I’m not asking you to weep for the Waltons, I am asking you to think about the incentives for a company to begin experimenting with its own tax-free tokens as a means of improving customer spending power and building brand loyalty.

How many coins will be needed and, for that matter, how many niches they will be summoned to fill, remains unknown.  In his lecture on real estate Dr. Shiller mentions the Peruvian economist Hernando De Soto’s observation about the lack of accounting for most of the land in the world.  Needless to say, for these areas to advance economically, or any way for that matter, it is important to establish who owns what. Drafting deeds, transferring ownership of properties or other goods, and managing the laws of districts where local authorities are unreliable or otherwise impotent are services that are best provided by an inviolable ledger. In the absence of a central body, this responsibility will be assumed by blockchain. Projects like BitNation are bringing the idea of decentralized governance to the masses; efforts like Octaneum are beginning to integrate blockchain technology with multi-trillion dollar commodities markets.

As more than one author has contended, information is arguably the most precious resource of the twenty first century. It it is hardly scarce, but analysis is as vital to making sound decisions. Augur and Gnosis provide decentralized prediction markets. The latter, Kristin Houser describes it, is a platform used “to create a prediction market for any event, such as the Super Bowl or an art auction.” Philip Tetlock’s book on superforecasting covers the key advantages of crowdsourcing economic and geopolitical forecasting, namely accuracy and cost-effectiveness. Blockchains will not only generate data, but also assist in making sense of it.  While it is just a historical aside, it is good to remember that money, as Tymoigne and Wray (2006) note, was originally devised as a means of recording debt. Hazel sticks with notches preceded the first coins by hundreds of years. Money began as a unit of accounting, not a store of value.

MelonPort and Iconomi both allow anyone to start their own investment funds. Given that it is “just” software is the beauty of it: these programs can continue to be improved upon  indefinitely. If the old team loses its vim, the project can easily be forked. Where is crypto right now and why does it matter? There is a tendency for academics (and ordinary people) to think of things in the real world as static objects existing in some kind of Platonic heaven. This is a monumental mistake when dealing with an adaptive system, or in this case, a series of immature, interlocking, and rapidly evolving ecosystems. We have seen the first bloom – some pruning too – and as clever people find new uses for the underlying technology, particularly in the area of IoT and other emerging fields, we will see another bloom. The crypto bubble has come and gone, but the tsunami, replete with mature products with explicit functions, is just starting to take shape.

In the long run Warren Buffett, Shiller, and the rest will likely be right about Bitcoin itself, which has far fewer features than more recent arrivals. Its persisting relevance comes from brand recognition and the fact that most of the crypto infrastructure was built with it in mind. As the first comer it will remain the reserve currency of the crypto world.  It is nowhere near reaching any sort of hard cap. The total amount invested in crypto is still minuscule compared to older markets. Newcomers, unaware or wary of even well-established projects like Ethereum and Litecoin, will at first invest in what they recognize. Given that the barriers to entry (access to an Internet connection and a halfway-decent computer or phone) are set to continue diminishing, including in countries in which the fiat currency is unstable, demand should only be expected to climb.

Adam Alonzi is a writer, biotechnologist, documentary maker, futurist, inventor, programmer, and author of the novels A Plank in Reason and Praying for Death: A Zombie Apocalypse. He is an analyst for the Millennium Project, the Head Media Director for BioViva Sciences, and Editor-in-Chief of Radical Science News. Listen to his podcasts here. Read his blog here.

U.S. Transhumanist Party / Institute of Exponential Sciences Discussion Panel on Cryptocurrencies

U.S. Transhumanist Party / Institute of Exponential Sciences Discussion Panel on Cryptocurrencies


Gennady Stolyarov II
Demian Zivkovic
Chantha Lueung
Laurens Wes
Moritz Bierling

On Sunday, February 18, 2018, the U.S. Transhumanist Party and Institute of Exponential Sciences hosted an expert discussion panel on how cryptocurrencies and blockchain-based technologies will possibly affect future economies and everyday life. Panelists were asked about their views regarding what is the most significant promise of cryptocurrencies, as well as what are the most significant current obstacles to its realization.

Gennady Stolyarov II, Chairman of the U.S. Transhumanist Party, and Demian Zivkovic, President of the Institute of Exponential Sciences, are the moderators for this panel.


Moritz Bierling

Moritz Bierling, in his work for Exosphere Academy – a learning and problem-solving community – has organized a Space Elevator bootcamp, an Artificial Intelligence conference, and an Ethereum training course while also authoring a Primer on the emerging discipline of Alternate Reality Design. As Blockchain Reporter for the Berlin blockchain startup Neufund, he has educated the city’s Venture Capital and startup scene, as well as the broader public on the applications of this groundbreaking technology. His work has appeared in a number of blockchain-related and libertarian media outlets such as CoinTelegraph, The Freeman’s Perspective,, and the School Sucks Project. See his website at

Chantha Lueung

Chantha Lueung is the creator of, which is a social-media website focused on building the future world of cryptocurrencies by connecting crypto-enthusiasts and the general public about cryptocurrencies. He is a full-time trader and also participates in the HyperStake coin project, which is a Bitcoin alternative that uses the very energy-efficient Proof of Stake protocol, also known as POS.

Laurens Wes

Laurens Wes is a Dutch engineer and chief engineering officer at the Institute of Exponential Sciences. Furthermore he is the owner of Intrifix, a company focused on custom 3D-printed products and software solutions. He has also studied Artificial Intelligence and is very interested in transhumanism, longevity, entrepreneurship, cryptocurrencies/blockchain technology, and art (and a lot more). He is a regular speaker for the IES and is very committed to educating the public on accelerated technological developments and exponential sciences.

The YouTube question/comment chat for this Q&A session has been archived here and is also provided below.

Visit the U.S. Transhumanist Party Facebook page here.

See the U.S. Transhumanist Party FAQ here.

Become a member of the U.S. Transhumanist Party for free, no matter where you reside.

Become a Foreign Ambassador for the U.S. Transhumanist Party.



Chat Log from the Discussion Panel on Cryptocurrencies of February 18, 2018

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A Word on Implanted NFC Tags – Article by Ryan Starr

A Word on Implanted NFC Tags – Article by Ryan Starr


Ryan Starr

TL;DR – CALM DOWN. No one is forcing you to be chipped and you can’t be tracked or hacked.

So, I’ve seen a lot of people lose their minds over a Wisconsin company, Three Square Market (32Market), implanting NFC tags in their employees. Everyone just stop and a take a deep breath. You likely have no actual understanding of what the tag is or how it works, so let me tell you. I got one last year – an xNT, the original implantable NFC tag, from the company Dangerous Things ( It is exactly the same as what Three Square Market is offering to their employees. I know what it is and is not capable of doing. But let’s back up for a second.

First, the company is not forcing any employee to get it. There are several companies around the world who have offered the same thing (no, they are not the first) and no one has ever been forcibly implanted. Period. EVERYONE I have come across in the biohacking community is vocal about this NOT BEING MANDATORY. It is a choice, and we want to keep it that way. Furthermore, there is a growing political movement that specifically addresses concerns about bodily autonomy and preventing implants from becoming mandatory.

Now, to the most common concerns I’ve seen:

Can your tag be tracked?

NO. It is not a GPS device or even an active piece of electronics. It is a passive chip and antenna that pulls power from the device used to read it. The tag is the size of a grain of rice, and even if we wanted to cram active electronics in there, we can’t.

Can your tag be hacked?

NO. As I said above, these are passive devices that require power from a reader. In order to do so, the reading device essentially has to be placed directly on your tag (typically implanted in the hand) and held there still for several seconds. Also, some readers don’t read very well because of antenna differences. If someone really wanted to steal your stored data, they would have to physically attack you, restrain you, and then read your tag. If that were the case, you have bigger problems than someone reading your 800 bytes of information. But in the very unlikely event that someone did try to do that to you, don’t worry, because you can password-protect your tag.

So what are they good for?

PRIVACY AND SECURITY. Yes, you read that correctly. When I first saw NFC tags being implanted, I had many of the same privacy concerns that many of you do. But then I started actually researching the technology. NFC tags (implanted or not) can be used to lock and unlock devices and are more secure than a password or a fingerprint. Of course, implanting one means you’ll never lose it, and it will never get stolen. You can unlock your android phones, unlock your doors, safes, and padlocks (with specific NFC enabled hardware), and if you’re particularly good with electronics, you can rig up many Arduino or Pi-based devices that read and respond to your tag.

There are other cool things you can do. You can store links, digital business cards, Bitcoin wallets, or just generic text. But also understand that this technology is fairly new, and associated hardware are even newer. This is ground-level development going on, and because of that we can steer the development to ensure privacy and safety for the user. There is not a greedy corporation running the industry, just passionate hobbyists who are just as concerned about privacy as you are.

If you want more information, I highly suggest just asking someone who actually has an NFC tag or visit

Ryan Starr (R. Nicholas Starr) is the is the leader of the Transhumanist Party of Colorado and founder of the Transhumanists of the Sierras