Is it possible to revive ‘Dead Coins’?

One of the interesting aspects of the whole Bitcoin or crypto coins is that there are a number of coins that are currently considered ‘dead. Dead as in the sense that the development team no longer seems to exist for the coin or the coin no longer trades anywhere. So while the coins may be dead at the moment, I wonder if it would be possible to start up trading in those coins and get them trading again.

From my experience and observations with the stock of various companies over the years I do think it might be possible to get a coin trading again and maybe some value to it. It seems the easiest solution would be to get it trading on any exchange and then convert the ‘dead’ coin into another more popular coin and solve the problem that way. The other path would be to develop some kind of standardized new blockchain for dead coins and convert dead coins into that and get them trading that way again. While it may not put it back to the old value, at least anyone that holds or held any of them would be able to trading in them again.

The other aspect is if anything can be done with abandoned or lost coins. Apparently, there are a number of coins in the various cryptos that the owners have either totally forget about or lost the keys, so these coins are, in a sense, dead. The last owner has completely forgotten about them or is no longer able to trade them, so the block chain is at an end. It seems it should be possible to try to get those back into circulation or maybe somehow send word to the chain and owner about the status. In some of my recent research Bitcoin has about 100 bytes that is like a comment field and that might be useable to somehow send word to the people with these inactive chains to get them back into circulation.

The last bit of research also talked about SHA-256 (I think that is it) which is the hash routine for the blockchains. One thing that did occur to me is that with enough computing power that it might be possible to have an index of all of the possible hashes, which would make the whole blockchain at risk. There was also some mention by various people that a quantum computer might be able to solve hashes much faster than the standard computers currently in use. From looking around a few months ago I think the largest quantum computer has 2048 Qubits, so it is limited in what it can do and only available at a large scale, like large corporation labs or government budgets would be needed. BUT, I expect as time goes on that the hardware will shrink, the Qubits will go up, and what it can do will far outpace what the standard computing can do for computations on a hash. I did run across one company that seemed to be selling time on a quantum computer, but expect it is still somewhat expensive and impractical, but should improve as time goes on.

NOTE: There are some people who think and talk about a Quantum computer being the path or what is needed to get to an AGI (Artificial General Intelligence) but I think they only think that because of the general path being taken with machine learning; where we basically throw millions of options at the computer so it can ‘learn’ what to do. In one of my prior posts I wrote that this ‘Big Data’ method seemed to be more of a way to try to brute force a solution to the problem instead of going about it the right way and figuring out how people think and learn. While I do expect this brute force Big Data method will get some results, I expect within a short period of time its limits will become obvious and never lead to a true AGI and without a real AGI, we will never get to an SAGI (Super Artificial General Intelligence; a group of AGIs are needed to build a SAGI).

Good Luck and Take Care,

Louis J. Desy Jr. – Wednesday, April 28, 2021

Universal Basic Income – How it can come about and what it will be? Part 1 of a series

Recently I have been reading AI Superpowers (2018) by Kai-Fu Lee. While reading this work there is considerable discussion as to what happens to people and work as AI systems and/or robotics take over large parts of the work that people do now. While the estimates are all over the place as to what jobs and how many jobs are at risk, there is the concern that as computers, AI and robotics improve in the coming years that there will be a large displacement of people as jobs simply disappear for humans. While in the past these things happened, where one set of jobs disappeared, it was always accompanied by a new set of jobs being created that needed to be done with the overall net effect of the workforce ending better off after a while.

The concern is that a combined AI and robotics could result in the demand for work by people overall dropping over time as more and more of the workforce becomes computerized and not as many people are needed to do the same amount of work.

One thought that does occur to me is the recent discussions about Universal Basic Income, sometimes referred to as UBI, could help with this situation. As far as I understand the thinking, the idea is that everyone would be given some level of basic income every month to do as they wished with it. The criticism of such efforts is that at the moment no government entity can really afford such plans on a large scale, plus it is not clear what the benefit of doing such a thing would be for anyone, especially if the government entity making the payments has to borrow to make them meaning that eventually such payments would have to come to an end as said government entity was no longer able to tax and borrow to continue the payments. In order to properly do a UBI system, government entities would need to be funding such payments out of current tax revenue and probably really need to pay off most or all of any outstanding government entity borrowings.

My hope is that there is a path forward where once robotics and AI reach the point where the firms using such a workforce would be able to make the tax payments necessary to start UBI programs that were sustainable. At some point if the UBI amounts were large enough, which I believe is possible decades from now, people would be able to chose if they wanted to work or not or do whatever they felt like doing, without worrying about how they were going to make enough money to live on. I hope to shortly write a book about this and how I see we could transition from the current system to one where most of the workforce was computer AI or robotics and how UBI would allow people their part in the system.

While some people in a UBI system might simply do nothing all day, there are other people that even if they didn’t have to work, would still want to work and create things. There are also some things that even with a full computerized AI or robotics workforce may still be too hard for such systems and needs a person to do the work.

As an example of something that I think would take a long time and maybe never be able to be done in a cost efficient manner by robots is something simple like cleaning up the trash that is all over the place. Today, while driving to my friends business from my Worcester apartment to The Citadel in Groton, CT, along I-290 and then I-395, I noticed that just about every single foot of highway has some kind of trash on it! All 70 miles or so of my trip had trash on the side of the road. From my car I could see sparkles of plastic, glass, bottles, pieces of paper, plastic bags and all kinds of assorted trash. While I can see a robot doing that kind of clean up, I can’t see that it would be anywhere near cost effective and would really need a person to do that kind of work. While some people may think of picking up trash as not glamorous work, it is something that will need to be done at some point if we are to keep pollution out of the ecological system and the water supply.

Last night my friend Bob sent me a link about a group with special ship and boom who are cleaning up some of the floating trash collections that are in the Pacific Ocean:

The article mentions the group hopes to clean up half of one of the two trash groups that has formed in the Pacific Ocean within five years. If they can do that I would consider it to be incredible. The group is Ocean Cleanup and the device is Ocean Cleanup System 001. I noted that it looks like no government seems involved in the effort which I find strange considering the amount of money all of the various government agencies spend every year. To me It seems like some agency would be interested in such an effort and doing what they could to assist. From looking at the web suite, it looks like they have one prototype of their system working and a staff of around 80 people.  My expectation is that the entire organization is operating on something like less then ten million USD per year, which makes me wonder why no government organization is not participating in the effort? (i.e. Wouldn’t it be worth it for some agency like the EPA to fund this effort in order to clean up the plastic trash that has collected in the worlds’ oceans? )

Apparently, there are two large areas of trash that have collected in the Pacific and probably another one in the Atlantic Ocean. I remember one account from one of the people that did a crossing of the Atlantic Ocean in a rowboat or maybe bathtub (that crossing was like a publicity event) talking about how he ran into trash and pollution in the middle of the Atlantic in places that were hundreds of miles from land; places that I would have normally expected to be clean and pristine, not filled with trash floating all over the place.

Hopefully, as computer AI and robotics are implemented more and more into the workforce, UBI for people displaced by such technologies will follow and turn what could have been a disaster for people into one of a utopia where a person’s minimal material needs are taken care of. While such an effort and transition will take decades of work, it is something that should be worked towards and achievable over the coming decades.

Good Luck and Take Care,

Louis J. Desy Jr. – Thursday, January 03, 2019