Adapt or Die: The Incoming Tidal Wave of Technological Revolution

I really think that there are huge changes heading our way in the job market and economy that will effect all industries. Advancements are coming at an exponential rate in Robotics and Processing Speed combined with AI, Big Data and Distributed Decentralised Technology.

More manual jobs will be automated, AI software programs will perform simple tasks at dizzying speeds and global digital markets will be opened up like never before by Blockchain and DLT technology. The political implications and general disruption to economies could be huge.

As a 30 year old millennial it would be easy for me to think that I have already lived through the fastest period of change in human history. From when I was born in the late 1980s to now we have seen the rise and mass adoption of transformational tech such as the Internet, Personal Computing, Smart Phones, Social Media and an explosion in the creation, sharing and availability of data/knowledge. However I believe that this is only just beginning and that the next 30 years will see change and disruption like never before. Many industries have been disrupted by the tech of the last 30 years, however many still operate the same as they have always done.

Industries Ready For Disruption

Industries such as Finance, Insurance, Transportation, Education, HealthCare and Law at their core operate very much in the same way they have for decades if not centuries. I expect industries such as these to experience the most disruption but the effects of automation, AI and DLT will be felt across all industries. Driverless Cars/HGV will revolutionise transport replacing millions of lorry drivers, taxis and other driving jobs. Blockchain and Distributed Ledger Technology will redistribute wealth, control and access of financial assets across the globe, removing middlemen and banking the unbanked. Robotics combined with AI will care for the sick, carry out health screening and rescue those in danger. The global economy will be accessible to anyone and everyone, you will be competing for jobs with every other person on the planet. The most knowledgeable experts on the planet in Law, Science, politics and every other subject there is will be AI, accessible to anyone on their Smart Devices.

What Can you Do To Adopt?

So are we all doomed to be replaced by AI and robots?

This is no longer in the realm of Science Fiction, jobs are already being replaced in call centres and factories across the world. A study by the McKinsey Global Institute found that based on current trends 20% of current UK jobs will be automated by 2030, on a global scale this represents around 800 million jobs.

However all is not lost, with new technology comes new industries, new businesses and new opportunities. Those who are willing to learn new skills and adopt to change will prosper like never before. Luckily we now live in a world were access to learning materials, online courses and tuition is virtually free. Literally all you need is a computer and some spare time to become an expert in any field you choose. There is huge demand, growing every day for people with skills in Development, Coding, Blockchain, Engineering, AI, Data Science etc.

As a young dad I know it is difficult to find time but I practice what I preach and try to dedicate 10 hours a week to learning new skills. I spent the last 18 months researching Blockchain and Cryptocurrency to the point where I am now very knowledgeable in the field. I have learned to build and programme computers from scatch, use comand-line interface, read trading charts, run Virtual Private Servers and program software in depth. All done using free resources online which I have shared below (yes YouTube is one of them and Google search).

I am currently dedicating some spare time in my evenings and weekends to learn Android App Development, along with the XLM programming language it uses. I expect it will take 4-6 months for me to be reasonably proficient and years for me to become a highly capable developer but with a working career left of 30-40 years I have plenty of time. I am lucky to have a very understanding wife that supports me in my learning journey, although my 3 year old son is not quite as understanding he is one of my main motivations to push myself out my comfort zone and strive to improve myself.

Summary

So in summary the world of work and the economy is changing regardless if you want it to or not, the best thing you can do is to start learning new skills. Don’t wait until you have more time or a New Years resolution, start today buy a book or subscribe to a free online course. Nothing is out of your reach if you set your mind to it, the future is yours for the taking.

Learning Resources

Udemy – Fantastic range of free and paid interactive courses that can be accessed on Mobile, Laptop and PC/MAC. Complete noob or experienced in your field, you can learn anything from App design, coding, blockchain, driverless car tech etc.

Khan Academy

YOUTUBE

Advertisements

Quick and Easy quide to Crypto Fundamental Analysis

There are literally thousands of different CryptoCurrency/Blockchain projects out there and new ones launching everyday. This makes it very difficult to quickly assess which ones look promising and which dont.

So below are the key points you need to look at to get a good idea to if a project warrents further research before buying/investing, mining, staking or starting a Masternode.

  1. Key Figures: Look up the key-figures like current marketcap, circulating supply, total supply; compare the these to other projects/competitors in the space on Coinmarketcap.com . For example, if you look up NEBL, compare it to the marketcap of STRATIS e.g.; when it comes to the supply look for anomalies, like a small circulating supply but a huge total supply. And if this is the case, you should check their distribution model later, things that could have a negative impact include large premine, very high new coin issueance/infation and concentration of holdings. 1-2 minutes
  2. Project Activity: Check out Bitcointalk.org for the official announcement thread; here you will (or you should!) find essential information about the idea and concept of the project. More important, you can see pretty fast how big and active the community and the official team; most devs are active in their threads. Have a look at recent comments and get a general feel for where the project is heading 3-5 minutes
  3. Github Activity: It is also wise to check the latest GitHub respositories. However be aware that an empty or not recently updated GitHub doesn’t mean a project is dead, this is a common rookie mistake. If other indicators are showing activity of the (dev)-team it’s fine. 2-3 minutes
  4. Website: is there detailed information about the project, like a decent whitepaper? A roadmap? Informations about the team? Do they link to their social media accounts like Slack, Twitter, Reddit, if so, is there activity? 5 minutes

If after checking all the above, the project still looks promising then you need to do a more in depth analysis. However this should give you a decent idea of how good the project is and help to avoid fakes, scams and dead projects,

Should i Mine Bitcoin Gold BTG

It is now possible to mine the recent controversial Bitcoin “fork” Bitcoin Gold BTG.

Just a word of warning this coin had a pre-mine which in the industry have dubbed a money grab.

However if you dont care about that you may be able to make a short term profit mining and selling BTG.

Below are the stats based on an overclocked 6 x 1060 6gb rig. Based on these figures it currently beats anything listed on whattomine at $13 per der.

Please bear in mind that on new coins like this both mining difficulty and market value can be very volatile and it may not stay this profitable.

Please see the calculator below.

http://calc.btgpool.pro

Coinbase Segwit2x Bitcoin Fork Announcement

Following statement has been issued by Coinbase with regards to the possible upcoming fork of the Bitcoin chain.

We wanted to remind you that the upcoming Bitcoin Segwit2x fork is projected to take place on November 16 and will result in 2 bitcoin blockchains.

In our effort to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange, we are working to ensure we maximize your benefit from this event. So, following the fork:

  • Any user storing Bitcoin on Coinbase at the time of the fork will be credited with an equal amount of the new Bitcoin2x asset on the Bitcoin2x blockchain. No action is required – we will automatically credit your account. If you have 5 Bitcoin stored on Coinbase before the fork, you will have 5 Bitcoin and 5 Bitcoin2x following the event.
  • Coinbase users will be able to trade both Bitcoin and Bitcoin2x shortly after the fork.
  • Coinbase will disable buys, sells, sends and receives for Bitcoin and Bitcoin2x approximately 24 hours before the fork. We will re-enable them following the fork once it’s safe to do so.

For a detailed timeline of events surrounding the fork please see our blog post and FAQ. Thank you,
Coinbase Team

Giving Bitcoin for Birthday and Christmas Presents

First Ever Bitcoin Gift Idea

The best present you could give a friend or love one may be their first ever Bitcoin. Whether its £5 or £100 it could make a unique gift and introduce new people to a revolutionary technology.

There are many predictions being thrown around by so called “experts” on the potential future value increase of Bitcoin. Who knows you might make your friend or loved one rich in ten years. If not they will still hold a piece of history, the original invention of Blockchain and Cryptocurrency.

How to gift Bitcoin?

You may have your own crazy and original ideas for gifting Bitcoin but here are a few to get you started.

1. Simply Set them up a wallet on their phone or computer and send them some lovely Satoshi’s.

jazz wallet btc

2. Use my easy to follow guide to make them a personalized paper bitcoin wallet, this way the recipient doesn’t need any technical knowledge This way its secure and can be kept safe for years to come. GUIDE HERE

canton-openpaperwallet-sample

3. Load up a Bitcoin hardware wallet like the one below, this way the wallet can be part of the gift but expect to pay £60-£90 before you even load any Bitcoin. BUY HERE

Bitcoin wallet Ledger Nano S

Blockfolio Review – Track your Bitcoin and Altcoins

I was looking for a quick, easy and free app so that i could keep an eye on the value of my crypto on the move and came across Blockfolio. I tried a number of similar apps but this one was the easiest to use and has some great features. As you can see from the screenshot above the home page gives you a quick view of your portfolio, its value and what price movements there have been. The handy graphs give you an in depth look at each coin when you click on them. You can select which exchange to use, customize the timescales (24h, 1 week, 1 month etc) and most importantly view in fiat value and Bitcoin value. It does require you to manually input the data so maybe not the best for heavy day traders. However for the casual bag holder you can save your purchase price and track its performance against current market price. I would not get carried away checking every 5 minute price dip and don’t forget to zoom out to 3 – 12 month price ranges every now and then. All in all a very well built app that works nearly flawlessly. Available for both Apple iOS and Android.

https://www.blockfolio.com/

What the fork is Bitcoin Gold BTG? Scam or gift?

You may of heard recently that there is going to be a software fork of Bitcoin to create a new altcoin called Bitcoingold (BTG). I have tried to give an honest summary of all the information available below, be very careful with any new fork as your BTC could be at risk (see below).

The Bitcoingold developers have given 25th October as the day when BTG coins will be created. The main idea behind it is to create a less centralized Bitcoin by moving from ASIC mining to GPU mining. It will use the same algorithm as Zcash called equihash.

This fork is not to be confused with the possible segwitx2 fork in November.

Now this isn’t a new thing in Crypto, it has happened many times before creating successful coins such as Dash, Litecoin and Zcash. Essentially any development team could fork any open source Cryptocurrency at any time by taking the core client and running their own version from a certain block number onward. For example Litecoin was forked from the Bitcoin Core client primarily by having a decreased block generation time of 2.5 min’s, increasing the maximum number of coins and using a different hashing algorithm (scrypt instead of SHA-256).

However there are many other complex factors that determine if a fork survives and has any value. Such as attracting mining power (if POW), getting listed on exchanges, preventing replay attacks, having a working wallet and finally having people willing to buy it. At the end of the day, just like anything in life, a Cryptocurrency is only worth what somebody is willing to pay for it.

So what the fork is happening with Bitcoingold BTG?

Well this is just another software fork using Bitcoin Core as a starting reference. Therefore if successful holders of BTC will technically also hold an equal amount of the new coin up to the point of the split.

However before you go putting the deposit down on your Lambo there are some very important things to consider.

Firstly this is not some high profile fork being implemented by an experienced, transparent team of developers with community backing. The effort is being led by Jack Liao, CEO of LighteningAsic a miner manufacturer, a Chinese financial backer simply known as Wubi and anonymous lead developer called H4x3rotab.

Secondly if your BTC is held in an exchange, you will only receive BTG if they decide to support it and credit it to you. Only two exchanges have so far committed to BTG, Bitexchange (Hong Kong) and relatively unknown Bitstar.

Update 19/10/2017 – Yobit exchange have also signalled support for BitcoinGold.

Bitcoin exchange

Thirdly the project has not yet added strong replay protection to its proposed software. If this is not resolved then you could potentially lose your original Bitcoin (BTC) when moving it from your wallet if not done correctly.

Finally one of the biggest criticisms aimed at the project is its decision to “pre-mine” or mine the new blockchain themselves before its released. This give the developers a potentially large amount of coins to sell or dump as they see fit. The lead developer “H4x3rotab” commented the amount of pre-mine would be “at most one percent of the total supply”.

In any case be careful when the fork arrives and do your research before making any sales or transfers.

22/10/2017 Update

Great article from Bittrex confirming support for BTG but highlighting many of my concerns mentioned above https://support.bittrex.com/hc/en-us/articles/115002320451