Not Signed-In
Which clippings match 'Value And Benefit' keyword pg.1 of 1
22 MARCH 2013

The Rise and Fall of Bitcoin

"In November 1, 2008, a man named Satoshi Nakamoto posted a research paper to an obscure cryptography listserv describing his design for a new digital currency that he called bitcoin. None of the list's veterans had heard of him, and what little information could be gleaned was murky and contradictory. In an online profile, he said he lived in Japan. His email address was from a free German service. Google searches for his name turned up no relevant information; it was clearly a pseudonym. But while Nakamoto himself may have been a puzzle, his creation cracked a problem that had stumped cryptographers for decades. The idea of digital money – convenient and untraceable, liberated from the oversight of governments and banks – had been a hot topic since the birth of the Internet. Cypherpunks, the 1990s movement of libertarian cryptographers, dedicated themselves to the project. Yet every effort to create virtual cash had foundered. Ecash, an anonymous system launched in the early 1990s by cryptographer David Chaum, failed in part because it depended on the existing infrastructures of government and credit card companies. Other proposals followed – bit gold, RPOW, b–money – but none got off the ground.

One of the core challenges of designing a digital currency involves something called the double–spending problem. If a digital dollar is just information, free from the corporeal strictures of paper and metal, what's to prevent people from copying and pasting it as easily as a chunk of text, 'spending' it as many times as they want? The conventional answer involved using a central clearinghouse to keep a real–time ledger of all transactions – ensuring that, if someone spends his last digital dollar, he can't then spend it again. The ledger prevents fraud, but it also requires a trusted third party to administer it.

Bitcoin did away with the third party by publicly distributing the ledger, what Nakamoto called the 'block chain.' Users willing to devote CPU power to running a special piece of software would be called miners and would form a network to maintain the block chain collectively. In the process, they would also generate new currency. Transactions would be broadcast to the network, and computers running the software would compete to solve irreversible cryptographic puzzles that contain data from several transactions. The first miner to solve each puzzle would be awarded 50 new bitcoins, and the associated block of transactions would be added to the chain. The difficulty of each puzzle would increase as the number of miners increased, which would keep production to one block of transactions roughly every 10 minutes. In addition, the size of each block bounty would halve every 210,000 blocks – first from 50 bitcoins to 25, then from 25 to 12.5, and so on. Around the year 2140, the currency would reach its preordained limit of 21 million bitcoins."

(Benjamin Wallace, 23 November 2011, Wired Magazine)

1

TAGS

1990s2008anonymous system • b-money • bit gold • bitcoin • block chain • broadcast to the network • chain • clearinghouse • collective interests • collective participation • collective participation technology • corporeal strictures • credit card • cryptographer • cryptographic puzzle • cryptography • currency • cypherpunkDavid Chaumdecentralisation • digital currency • digital dollar • digital money • distribution models • double-spending • financial flowsfinancial transactionsfraudfree market economyglobal capital flowsinformation flowsinformation theoryinfrastructureJapan • ledger • libertarianism • Listservminermining • mining metaphor • P2Ppuzzle • pyramid scheme • RPOW • Satoshi Nakamoto • speculationspeculation and innovation • spending • trustvalue and benefit • virtual cash • Wired (magazine)

CONTRIBUTOR

Simon Perkins
17 MARCH 2013

Finland's school system accomplishes some impressive feats: so what makes Finnish students so successful?

"Students get plenty of teacher interaction: Finland and New York City have the same number of teachers. But Finland has nearly half the number of students. Standardized testing is kept to a minimum: before a New York student reaches high school, he or she will have taken 10 standardized tests. Collectively, US students take 100 million standardized tests a year. Finland's only standardized test is taken when students are 16 years old. Kids have more time to be kids: an average us 5th grader has 50 minimum of homework per day. Finnish students rarely do homework until their teens. And while us elementary students average 27 minutes of recess students in Finland get about 75 minutes a day). Finland knows good teachers are essential: teachers in Finland are all required to have a Master's degree (which is fully subsidized by the state)."

(OnlineClasses.org, 21 January 2013)

1

CONTRIBUTOR

Simon Perkins
22 NOVEMBER 2012

The creative industries provided twice as many UK jobs as financial services

"This Monday, [Andrew] Marr hosted a special edition of Start the Week on BBC Radio 4 to celebrate the RCA's 175th anniversary with guests including former RCA rector and Arts Council chair Sir Christopher Frayling.

In the show, Frayling pointed out that the creative industries provided twice as many UK jobs as financial services, but that this contribution went unnoticed.

'What I never understand is, there are so many column inches about financial services all the time,' Frayling told Marr. 'Financial services contributes about 1% more than the creative industries, which employ two million people whereas financial services employ one million people. So in terms of contribution to the economy generally, the creative industries actually have it over financial services in almost every way. And how many column inches about it? Very little. So there's this huge impact but people don't seem to be noticing.'

In his article, Marr argues that because the economic value of art schools is difficult to measure, politicians fail to appreciate their importance to the economy.

'And there's where I think the trouble lies,' Marr concludes. 'To invest in art and design means putting public money into areas whose value cannot be captured on a spreadsheet, where concepts like productivity, value–for–money, inputs and outputs–which so reassure the political world–simply collapse. That means faith. It means risk.

'But, without it, hard times surely stretch out rather bleakly. Other countries understand this, including China where more than a thousand art and design colleges are operating and whose students greatly benefit from colleges here too."

(Dezeen, 21 November 2012)

Fig.1 Jim Rokos "22° 36° 48°", fruit bowl [http://rokos.co.uk/].

1

TAGS

175th anniversary2012Andrew Marrart and designart schoolsArts Council (UK)BBC Radio 4Christopher Frayling • creative contribution • creative economycreative industries • difficult to measure • economic valuefinancial servicesimpact on the economy • importance to the economy • inputs and outputs • invest in art and design • jobsPeoples Republic of China • political world • productivitypublic moneyRCA • reassurance • riskRoyal College of ArtStart the WeekUKvalue and benefitvalue for money

CONTRIBUTOR

Simon Perkins
14 JULY 2006

Edward de Bono's Six Thinking Hats

"Six Thinking Hats is a simple, effective parallel thinking process that helps people be more productive, focused, and mindfully involved. And once learned, the tools can be applied immediately!

You and your team members can learn how to separate thinking into six clear functions and roles. Each thinking role is identified with a colored symbolic 'thinking hat.' By mentally wearing and switching 'hats,' you can easily focus or redirect thoughts, the conversation, or the meeting.

The White Hat calls for information known or needed. 'The facts, just the facts.' :: The Yellow Hat symbolizes brightness and optimism. Under this hat you explore the positives and probe for value and benefit. :: The Black Hat is judgment – the devil's advocate or why something may not work. Spot the difficulties and dangers :: where things might go wrong. Probably the most powerful and useful of the Hats but a problem if overused. :: The Red Hat signifies feelings, hunches and intuition. When using this hat you can express emotions and feelings and share fears, likes, dislikes, loves, and hates. :: The Green Hat focuses on creativity :: the possibilities, alternatives, and new ideas. It's an opportunity to express new concepts and new perceptions. :: The Blue Hat is used to manage the thinking process. It's the control mechanism that ensures the Six Thinking Hats guidelines are observed."

(The de Bono Group)

Edward De Bono (1985). "Six Thinking Hats", ISBN 0–316–17831–4.

1
2
3
4
5
6
7

TAGS

ability to focusabstract representationabstract representationsabstraction • abstraction in problem solving and learning • abstractions for problem solving • alternatives • blackbluecolour • control mechanism • creativitydecision makingdesign methoddesign methodsdesign team • difficulties and dangers • distinct functions • distinct roles • Edward de Bonofactsfeelings • focus thoughts • green • group discussion • hat • hats • high performance thinkinghunches • individual thinking • intuitionjudgmentmethods for design practice • mindfully involved • new ideas • parallel thinking • parallel thinking process • possibilities • problem abstractionproblem-solvingproductivityred • redirect thoughts • role playingseparate thinkingSix Thinking Hatssymbolism • the facts • thinking • thinking hat • thinking process • thinking role • thinking tooltooltools for thinkingvalue and benefitways of thinking • wearing • whiteyellow

CONTRIBUTOR

Simon Perkins
Sign-In

Sign-In to Folksonomy

Can't access your account?

New to Folksonomy?

Sign-Up or learn more.