VR could be key to helping recovered COVID-19 patients get therapy, according to experts – Mobihealth News

Virtual reality could be key to COVID-19 rehabilitation, according to a new paper published inBMJ Open Sport Exercise Medicine. Specifically, the authors of the publication pitch tailor-made rehabilitation services that can be administered remotely via a VR experience.

The authors explain that many COVID-19 patients who were critically ill continue to have Post-Intensive Care Syndrome, even after the infection is gone, leaving a potential risk for physical, psychological and cognitive impairment.

Traditional PICS treatments also do not account for the additional emotional and societal side-effects of this particular crisis, such as social distancing, limitation of family members visits and consultations by primary caregivers when patients are discharged, authors of the study wrote. VR provides healthcare practitioners with the means to administer fast, temporary and tailor-made rehabilitation services at a distance, and offers a solution to address the impending surge of demand for PICS-COV therapy.

VR could help patients not just with physical rehab but could also help with psychological support for patients who have overcome COVID-19.

Authors noted that the technology is well suited to todays environment as it lets therapy be delivered at a distance and allows therapists, who may be in high demand, to treat patients simultaneously. VR differs from traditional telemedicine, the paper says, because of its ability to put patients into a 3D environment.

However, VR also presents new sets of challenges, according to the article. Those challenges include creating a new toolkit for physical, mental and cognitive therapy. The risk of falls is another potential issue in the technology. Authors of the paper suggested that patients should sit when doing cognitive and mental health-related therapy. Proper patient education was also suggested.

WHY IT MATTERS

According to a paper published inHeart Lung,50% of all patients admitted to the ICU that go onto a ventilator develop PICS. The paper goes on to note that there is no difference in PICS risk between ICU patients with morbidities such as diabetes, hypertension, asthma, and chronic obstructive pulmonary and those admitted to the ICU who do not have a morbidity.

THE LARGER TREND

Virtual reality is growing in popularity in the healthcare space. InItaly one hospital is supplyingVR therapy to its workers to help reduce the stress and anxiety associated with treated coronavirus patients.

Virtual reality is also growing in the rehabilitation space, in stroke care in particular. InFebruary a use-of-concept studyfound that stroke patients given virtual reality therapy were consistent in completing the therapy, and preferred a version that let them connect to others.

In 2018, a rehabilitation research group from theKessler Foundation and immersive interactive technologies company Virtualwareannounced the two organizationsare teaming up to develop a VR-based treatment for spatial neglect in stroke patients.

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VR could be key to helping recovered COVID-19 patients get therapy, according to experts - Mobihealth News

Movie Director and Skydiver creates the most realistic Virtual Reality Parachute Landing Simulation ever! – PRNewswire

HOUSTON, Dec. 15, 2020 /PRNewswire/ -- CanopySim is a virtual reality Parachute Landing Simulation, the first of its kind to entertain and teach real life canopy techniques for anyone wanting to experience the thrill of skydiving.

CanopySim was designed with an emphasis on beautiful, exotic environments as well as incorporating the real world physics of canopy flight. CanopySim consultants include some of the top parachute flight coaches in the USA and NASA engineers, to bring the most realistic physics of canopy flight into the virtual world.

"I searched for an existing true to life skydiving experience in VR and could not find anything that came close to the real thing, so I decided to create it myself" Amir Valinia, Creator of CanopySim

Simulation Highlights:

Our pre-release marketing has reached over 300,000 YouTube viewers as well as over 380,000 Facebook users with over 51,000 post engagements in just a few months.

CanopySim is available on Oculus and Steam VR.

Amir Valinia is available for interviews and demonstrations.

Amir Valinia832-526-5822[emailprotected]

LinksTrailer: https://youtu.be/rFI30U16gHAWebsite: https://www.canopysim.comFacebook: https://www.facebook.com/CanopySim

SOURCE AV1 Productions

http://av1productions.com/

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Movie Director and Skydiver creates the most realistic Virtual Reality Parachute Landing Simulation ever! - PRNewswire

New Study Reveals that Virtual Reality Skills Training Is Poised for Explosive Growth By 2022 – Yahoo Finance

- Twice as many learning and development leaders will utilize VR for soft skill training by 2022

- VR training simulations have proven results in business-critical areas such as team management and collaboration; diversity, equity, and inclusion; and sales and customer service

SAN FRANCISCO, Dec. 15, 2020 /PRNewswire/ -- Mursion, the industry leader in immersive virtual reality training for emotional intelligence in the workplace, and Future Workplace, an advisory and membership organization that prepares HR leaders for the future of work, today announced their partner study: VR Changes the Game for Soft Skills Training. The report examines the rapidly growing trend of VR simulation training being adopted as a means to close the soft skills gap amid a wave of high-pressure situations and changes that managers and business leaders are experiencing in the workplace right now.

According to the report, by 2022, more than 72 percent of learning and development leaders across industries will have tried VR for soft skills training at their organization. This is more than double the 35 percent of respondents who are currently deploying VR skills simulations to help employees navigate challenging workplace scenarios in customer service, peer conflict resolution, and sales, as well as timely and critical training for diversity and inclusion, harassment, and even bedside manner for healthcare workers.

"Amid the effects of the COVID-19 pandemic, economic disruptions, employee layoffs, and furloughs, the needs for employees have never been greater and the stakes have never been higher for managers to possess the 'human' skills needed to drive business performance," said Mark Atkinson, CEO, Mursion. "The challenge of working remotely is intersecting with major societal shifts that are transforming workplace communications and company values at their core. Companies are looking for a solution, and VR training accelerates skill mastery in a realistic, efficient, and measurable way."

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Additional takeaways from VR Changes the Game for Soft Skills Training

More than half (51 percent) of respondents put VR in their top three buckets for where they would invest more money if they could double their learning budget higher than social learning, gamification, in-person learning, and artificial intelligence

VR for soft skills training delivers on what these learning leaders say is the future of learning: "engaging" (55 percent), "personalized" (49 percent) and "measurable" (41 percent)

Corporate Customer Success

H&R Block's customer call center data shows that two 30-minute sales VR sessions saved 4,119 hours (171 days) of average handling time a 10 percent overall reduction leading to a performance improvement equal to 3+ months of on-the-job learning.

T-Mobile had to handle high-stakes corporate change management communications prior to its merger with Sprint. After VR simulations with a "change-resistant" employee, 90 percent of managers showed strong competency in their real conversations. T-Mobile then expanded its scope to include customized simulations of executive presentation and communication skills.

Read more about these case studies in the VR Changes the Game for Soft Skills Training eBookMursion is among the companies that have experienced tremendous growth through this surge of corporate skills training demands, including a doubling of revenue and staff in less than a year, a 90 percent customer retention rate, a 140 percent increase in customer spend year-over-year, and achieving profitability.

"The future of VR training for employees to learn critical communication and interpersonal skills is limitless," explained Jeanne Meister, Managing Partner, Future Workplace. "Businesses and employees are harnessing the value of VR for soft skills. VR is becoming a top modality for training in conflict resolution, communications, and sales of new products and services."

For more information, you can read the VR Changes the Game for Soft Skills Training report here.

Methodology

Research findings are based on online survey responses conducted by Savanta on behalf of Mursion and Future Workplace. Three hundred leaders in corporate learning roles were surveyed at organizations with 1000+ employees who play a key role managing company L&D. Questions asked about perceptions of VR simulation and applicability for soft skills training in the following areas: leadership, HR, sales, and customer service.

About Mursion

Powered by a blend of artificial intelligence and live human interaction, Mursion provides immersive VR training for essential skills in the workplace. Mursion simulations are designed for the modern workforce, staging interactions between learners and avatars to achieve the realism needed for measurable, high-impact results. Drawing upon research in learning science and psychology, Mursion harnesses the best in technology and human interaction to deliver outcomes for both learners and organizations. Learn more at http://www.mursion.com.

About Future Workplace

Future Workplace is an HR advisory and membership firm preparing HR leaders and their teams to drive business impact, expand their skills, and adapt to the trends that matter most in the future of work. We do this by providing HR peer networks, online courses in Future Workplace Academy, and research on the future workforce and workplace. For more details, visit http://www.futureworkplace.com.

Media Contact:Monika Jomonika.jo@mursion.com

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Virtual reality and 3D scans: Digitally planned production of the Audi e-tron GT – Automotive World

The Audie-tronGT is the first four rings model for which production was planned entirely without physical prototypes. Multiple technical innovations made this possible, including three-dimensional building scans, machine learning processes and the use of virtual reality. All assembly processes, such as procedures and employee actions were tested and optimized in virtual spaces that model their real-world counterparts down to the finest detail. Virtual planning is now used across site boundaries, enabling digital, connected working without business trips or foreign assignments and not just during the coronavirus pandemic. 3D scans and the planning in virtual spaces make processes more efficient and sustainable.

Where is virtual planning used and why are 3D scans so important for this?

A variety of prototypes are used in the conventional planning process for the production of a new Audi model. The vehicle prototypes are fabricated during the early planning phase as one-off models with hand-built parts. This is time consuming and cost intensive. Assembly Planning uses these prototypes to define and optimize the later production processes. What are the employees tasks? Where does a part have to be located for the employee to have optimal access to it? Can the employee hold and install the part by him- or herself? How does she have to move to do it? Are other parts in the way? What tools does he need? During production planning for the Audie-tronGT, these questions were derived and answered entirely in the virtual world. Every step and every action was tested in the digital space using virtual reality. The goal of virtual planning is to ensure that during the later production of the vehicle, all processes are perfectly meshed and the cycles along the line are seamlessly coordinated.This requires that every detail of the production hall be modeled precisely and to scale. This is where 3D scans come into play. Using special hardware and software, they create a virtual reproduction of the physical production facility, including all equipment, tools and shelves.

TheAudi Bllinger Hfeat the Neckarsulm site, where theAudie-tronGTis built, thus also exist in the digital world. And thanks to new, digital planning methods, the production of tomorrow can be planned virtually years in advance on the basis of this model.

A scanner the hardware is essential for generating the corresponding data.

It is roughly two meters(6.6 ft)tall and is mounted on four wheels so that an employee can move it around the spaces. At the top is a LiDAR (Light Detection and Ranging) unit and three additional laser scanners as well as a camera. Two processes are conducted simultaneously while scanning a space: The wide-angle camera takes a picture of the space while the lasers precisely measure it and generate a three-dimensional point cloud of the surroundings. 250,000 square meters(2,690,977.6 sq ft)of production hall space at the Neckarsulm site alone has already been scanned using this technology. But it is the interaction between the hardware and software that takes the points, images and data sets generated and turns them into a usable overall image that can be used with the existing planning systems. The software used here is an in-house Audi development based on artificial intelligence and machine learning.The point cloud and the photographs are combined to produce a three-dimensional, photo-realistic space similar to what is seen in Google Street View.Proportions and sizes are true to scale and correspond to reality. The software also automatically recognizes all objects, such as machines, shelves and systems in the space.

It also learns automatically with each scan to recognize, distinguish and classify objects even more precisely. For example, the system distinguishes between a shelf and a steel beam. The position of the shelf can be changed in the program later and relocated in the virtual space.That of the steel beam cannot. These data enable a virtual walk-through of the scanned production facility from any starting point and can be used directly in planning processes.

The Audie-tronGT is the brands first vehicle for which the assembly procedures and associated logistics processes were tested exclusively virtually and without any physical prototypes.

To do this, a holistic, virtual model of the planned assembly with vehicle data, material handling, equipment, tools and the planned processes is prepared as a so-called digital model. The 3D scans are one element of this. The digital model is the basis for further innovations, as Andrs Kohler, responsible for virtual assembly planning at Audi, explains. Thanks to a VR solution developed here at Audi and the digital model, colleagues from all over the world can now meet in virtual spaces and find themselves in the middle of the production facility of tomorrow. They can look over the shoulders of digital workers as they perform the planned procedures. They can also experience and optimize the planned processes for any part variants in our application. The results can then be used to train employees, also on the basis of the VR application.These new possibilities are now being used in an increasing number of additional projects and at multiple sites. A 3P workshop (3P = Production Preparation Process), for example, was held at the Audi site in San Jos Chiapa, Mexico, and project team members from Ingolstadt also took part. As digital avatars and thus completely virtually, the experts discussed and planned the production of the Audi Q5 face lift and the new Q5 Sportback in VR.

All assembly procedures are jointly defined and tested in real time, as are ergonomic aspects or the exact arrangement of machines, shelves and parts along the assembly line. Audi is the Group lead for the development of the comprehensive VR solution including the digital model. The project is being continued across brand lines under the leadership of the four rings as a Group project and rolled out to more and more sites.

Virtual planning is not restricted to just processes and work procedures. Objects such as containers for the transport and storage of sensitive parts, called special load containers, can also be planned using this technology. These containers for individual, particularly sensitive parts of the Audie-tronGT, such as electric modules or interior parts were planned using Audis cross-site and cross-division virtually reality application rather than using multiple physical prototypes of iron and steel. Virtual container planning works like this: Since there are data sets for all parts, these can be loaded directly and to-scale in the VR application. As in the 3P workshops, multiple employees from different sites meet in a virtual space, where they use the part to check the perfect and tailored load carrier. Employees from Logistics, Assembly Planning, Occupational Safety, Quality Assurance, Material Flow Planning and also suppliers are involved in this process. They use digital pens to mark their changes on the virtual containers. The containers are loaded and unloaded, moved and measured during this process.

Optimal safety of the part during transport is one objective of this planning. But employees or a robot must also be able to easily grab the part and remove it from the load carrier. Once the virtual design is complete, the data are simply exported and the special load carrier manufactured.

What makes virtual planning so sustainable and ecological?

Sometimes less is more. There are thus three points that make virtual planning so sustainable:

The digital model is the basis for further possibilities in the virtual space. If you combine the possibilities of virtual planning including the digital model, 3D scans and the virtual reality application with those of 3D printing, 3P workshops could also be conducted in mixed reality in the future. Individual parts would then be produced immediately via a 3D printer and only slight amounts of resources. This enables the physical testing of individual elements in the virtual space, such as assessing the haptics and weight of the parts. A key step combining the advantages of both worlds. Virtual meetings and collaboration via avatars in the virtual world could increasingly replace foreign assignments and longer business trips. It is already possible today to use the spaces created by the 3D scanner for digital indoor navigation. And the positioning of machines and equipment in the space can be planned down to the centimeter using augmented reality.

SOURCE: Audi

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Virtual reality and 3D scans: Digitally planned production of the Audi e-tron GT - Automotive World

‘I Run a Virtual Reality Dating Network Where You Can Have Sex and Marry’ – Newsweek

Before I was creating avatar real world representations, I was a key innovator for the very early internet in the 90s. Around that time, as a hobby I picked up one of the first three massively multiplayer online (MMO) games, Asheron's Callit was a hugely entertaining Dungeons and Dragons type game. I would usually adventure solo, but every now and again I would get into a group and we would go on some kind of quest.

What floored me was that the quest would be going along just fine with five or six guys and then a woman would want to join our quest, and everything would stoppeople would start talking and flirting. I realized this game was great for going out to adventure but it was even better for just going to be social. That was sort of the genesis for the idea of creating my own virtual reality world.

I started working on Utherverse, a 3D virtual reality social network, around 2003, but it launched in 2005. I felt that the way most social media platforms were shaping up were giving a distorted view of people's lives. It seemed to me that they were designed so that everybody would become jealous. You may have hundreds or thousands of friends on Facebook, but somebody always seems to be doing better than you are. You're always hearing about other people getting a promotion or going on vacation.

What I wanted to do was create a platform that was analogous to what humans are like originally. Allowing people to form real social circles and bonds with people they interact with, all around the world.

But we saw people creating romantic connections from the day we opened the (digital) doors of the platform. We did spend time making the space conducive to that, including creating a social profile for people to share information about, and images of, their "real" selves. But I was surprised how firmly and quickly the community created its own culture.

I don't recall the exact timing that we became aware that we had created a dating network. But very early on the community started to develop a wedding industry within the platform because the romantic encounters had become so prevalent. Eventually we established something kind of official, where you can get a marriage license and an "official" Justice of the Peace (JOP) within the platform. Obviously you don't have to do that, you can get married in whatever way you like in our virtual universe. There's a whole industry on the platform around weddings and relationships; you can have someone design your gown for a gala or date, or you can hire DJs and rent out banquet halls. It's all user driven, although we do have our own "official" JOP.

Obviously there is no legal force in effect from the marriages other than on our platform, but many people have taken it to the next step and do get married in the real world. It was also exciting in the early days, because people were able to have a same-sex marriage within our virtual world before it was legal in the U.S. and in many other placeswe weren't discriminatory.

I didn't anticipate that marriage and romance would be quite such a powerful component; we have people who own clubs or offer matchmaking services, the whole gamut. In general, we try to facilitate a warm, inviting and non-threatening community, so we host events and have volunteer guides who introduce avatars to one another.

It's not a dating service in the same sense as something like OKCupid or Tinder. If you're searching for a partner you can search profiles like on those apps, but here you generally find someone naturally in an event and you might see them in a general chat. When people have avatars there's less fear about any perceived physical imperfections and there's less pressure because it's not a private conversationyou're talking to the room.

You can also see how each person interacts with other people, or their friends on the platform. If you have a date, you could go to a concert or a nightclub on the platform where you're with a group with both of your friends and it makes it more natural and less pressured. It's a different way of operating a dating service, and I believe it's the future of dating.

Of course, there are advantages and disadvantages. You may find that you're more compatible with someone on the platform who is halfway around the world. We have around 12million registered users, and I have so many anecdotes of people who have got together through the platform.

People often write to me and tell me that they have gotten married and thought I should know. There are maybe five marriages or so a year I personally hear about that are a result from people meeting through our platform.

We had a woman and a man who ended up being volunteers within the platform. He was in the U.K. and she was in the U.S. They got married virtually and were together for eight months or so, then he finally flew across the pond and they immediately hit it off in real life. I think they were stressing about whether there would be chemistry in person, but there was and they got married in real life. That type of story is always very heartwarming. Every time that happens I feel great. I'll sometimes then see them post pictures of their kids on Facebook.

I'm a little less certain about the number of real life relationships, but I would estimate hundreds a year between people who are local and get together physically. And there are likely thousands of relationships where people are together but separated geographically. It's a wonderful way to meet people, though you do have the problem of how many people are using this virtual universe in your local area.

It's interesting to relate to people on all kinds of levels but I personally feel it's a handicap if the platform you're using is prohibiting sexual activity. I feel like sex is a huge part of being human.

So, we have the Red Light Center within our virtual universe. It was introduced in 2006 and includes the whole gamut of adult activity. We have not shied away from making it clear that this a big part of our virtual reality universe. People might get married on the platform and then want to rent a fancy room in a hotel. We also have gentleman's clubs and strip clubs for all orientations. We have a replica of Amsterdam's red-light district with sex workers and there are many options for different sexual experiences. I consider the center to be an alternative method for people to be able to safely engage in sexual behaviour. You can act out fantasies without being in danger of getting physically hurt. We try to take things to the natural conclusion in the same way that a real life encounter or relationship would happen. But it's safe and low risk.

I don't think I would be able to work on Utherverse if I hadn't been involved in exploring all the different avenues available on the platform. I've met some spectacular people and had wonderful encounters with people that have become sexual. But there are so many different levels to romance on the platform; you can send a private note or arrange a date. It's exciting, even though you know it's on a computer. Obviously it's not real but the mind is very powerful.

I remember back in 2006, I was involved with a woman and as she turned to walk away, I found myself checking her out. It was like this light went offI didn't feel at that moment like this was a computer simulation, instead, I was reacting like this was real life!

However I haven't taken any virtual relationships into real life because the issue for me is that as the CEO I am in a position of power. I have had to make it clear to anyone I have been involved with on the platform that it isn't a normal peer-to-peer relationship.

I do recall being very concerned about catfishing at the outset. Our policy is that you can represent yourself as you like as long as you are of legal age of majority. If you're transgender and you want to go in as the gender you identify with, that's fine. We wanted to leave that to the individual.

It is possible to engage the software as a basic member and be identified as such, but you don't get certain permissions without verifying yourself. Once you upgrade you've gone through a process to verify you're the age of majority and we verify you are a real person to the extent we are able. Obviously on the internet nothing is 100 percent perfect.

We have had reports from members of the community that people are suspect or not believed to be an adult. If the community feels someone is behaving in a way that doesn't cut it, they do report it to us.

There have been incidents, such as I received an appeal from someone who had been outed as male when they were presenting as female. I had to explain to that person that it wasn't that they were identifying as a different sex, but that they were doing so for nefarious reasons and this came out because people had become suspicious of their predatory behaviour. Of course that can happen, but people in the community are generally good about discovering and reporting that kind of behaviour. And we have had issues with phishing and scams but we'll send messages to the community when it happens.

What I hope for the platform in the future is that we can re-order the way that people interact with other people online. If you understand somebody they generally stop being a stereotype and it's harder to hate them.

I have always hoped that Utherverse could blossom into a global phenomenon where it's not just dating, or sex, or attending a concert or class, but really forming social groups that can be human with one another in an elevated way, including the whole spectrum of humanity.

That's still my dream.

Brian Shuster is the CEO of Ideaflood, Inc., an intellectual property development and holding company, and Utherverse Digital, Inc. Utherverse has more than 12 million registered users and worldwide franchise operations. You can follow Brian on Twitter @Brian_Shuster

All views expressed in this article are the author's own.

As told to Jenny Haward.

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'I Run a Virtual Reality Dating Network Where You Can Have Sex and Marry' - Newsweek

St. Paul’s students tour Holy Land with virtual reality gear – NUjournal

Submitted photoSt. Pauls Lutheran School eighth-grader Ben Price tours Holy Land sites including Nazareth and Bethlehem with Oculus Quest, a virtual reality headset. Teacher Pastor Rob Guenther called the event an immersive, multi-sensory experience for students using the headset and for others who watched it mirrored on a classroom screen.

NEW ULM St. Johns Lutheran Church Pastor Rob Guenther recently began experimenting with virtual reality (VR) equipment in his catechism classroom at St. Pauls Lutheran School.

With the rapid advancement of technology, he hopes to be on the front end of finding ways to use VR for education. He said over time, the cost of the technology will drop while quality improves.

Guenther said a church member recently bought an Oculus Quest headset for himself to play video games on it, and thought students would really enjoy it and contacted Guenther.

I connected with (Mankato) Bethany Lutheran College students and got the addresses of places we could (virtually) visit (in school), Guenther said.

On Dec. 11, Guenther brought Oculus Quest to school and took his students to Nazareth and Bethlehem, including touring the Church of the Annunciation, where the angel Gabriel is believed to have appeared and announced to Mary that she should have a baby, our Savior, Jesus, and to see where he was born.

They (students) stood in those spots and, in some cases, walked around, Guenther said. One student wore the headset in an immersive experience while others watched it being mirrored to the screen in front of the classroom.

Guenther said his students enjoyed the experience a great deal because its completely immersive. He thinks VR can be used to improve learning.

You can point, click and teleport to a new spot. Making experiences immersive and multi-sensory, lessons will be burned into the memories of students, said Guenther. You can tour the whole church inside and outside, including gardens and statues, that signify every part of different cultures. Its kind of like an art museum. Each piece of art is from a different location in the worldSpain, Asia, Mexico.

Guenther said students took turns taking 15-minute tours.

Were looking at rolling out more to teach the faith, so its kind of cool, he said. I recorded people at church, using a 3D camera. For homebound people, using a headset, it looks like theyre in church for a morning service. In these COVID times, we can bring things to people who cant go there right now.

Guenther said he thinks the new VR gear will become as common as cell phones soon.

Were looking for new ways to use virtual reality and go to new places, he said. If we cant take students on field trips right now with COVID-19 restrictions, we can bring the field trips to students.

(Fritz Busch can be emailed at fbusch@nujournal.com).

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Sofia Rufin: Powering the Development of Soft Skills Through VirtualReality – Analytics Insight

5Discovery, 5 for the 5 senses, is the first platform of soft skills training in Virtual Reality. The company offers a wide range of out-of-the-shelf training modules integrating the best methodologies from the personal and professional development sphere.

5Discoverys mission is to support people to augment their capabilities using immersive technologies. This is especially crucial in the VUCA world, an ever-changing landscape where agility, social interactions, resilience, communication, and emotional intelligence are the key toevolution.

Public speaking and pitching, negotiation, conflict management, interview preparation, media training, stress management, emotional intelligence, and disability or diversity awareness are some of 5Discoverys modules that create engagement through emotions and realism. It has been scientifically proven that immersive gamification with VR facilitates the learning curve by putting participants into actions, interactions, and emotions. This trend is growing relentlessly, such as the zeal to learn and grow. Thus, soft skills VR training means a rise in the ROI of training, which is clearly stated in PWCs analysis of July 2020, The effectiveness of Virtual Reality Softskills training in the Enterprise.

Sofia Rufin is the CEO of 5Discovery Virtual Learning. After spending a long and rich international career in IT and working for different software companies in sales and project management, she decided to orient her career to the leadership arena.

Fascinated by the personal development world, Sofia has been certified to distinct methodologies such as the process communication model, conflict dynamics model, positive psychology, mindfulness, agility and leadership program, and coaching model. She also acted as a professor and coach for the Executive MBA of the IMT Institute in France.

When Sofia saw that there was a lack of solutions to boost peoples self-development, she founded 5Discovery to offer a new innovating experience to the learning world. She asserts that soft skills are the most imperative asset for human capital, today, and VR can leverage themeffectively.

5Discovery always begins its development processes with pilots by targeting a selected group representative and enriches its immersive VR experiences with their feedback and proposals. The companys pragmatical approach often confronts technology with human sensitivity.

5Discovery also listens to the changes in the world, what people say, like, or dislike to create new experiences and environments. For example, in todays society, inclusion and collective intelligence are key accelerators for growth. To this effort, the company has developed aseries of training VR Modules to recruit people with cognitive or psychic issues such as Asperger syndrome, bipolarity, or earing issues while bypassing pre-judgments and bias.

Moreover, 5Discovery has different scenes in VR to identify the singularity of disabled people and facilitate relationships and communication with them. The company also works on embodiment processes in partnership with universities to increase awareness.

Sofia believes that digital innovation helps to create a connection with people more than ever. The current pandemic period points it out meaningfully. Along with in-person human relations, digital solutions are the key element to create and maintain relationships both in challenging and thriving times. Yet, technology should be 100% human-oriented and serve human interests, especially in the current ever-changing world.

Sofia further asserts that a positive mindset and empathy are some of the core soft skills that are the foundation of humanitys evolution. VR capabilities and magic approach should serve this objective, and 5Discovery does this perfectly.

Sofia exclaims that a transformational leader must demonstrate:

She also states, Being yourself, boost your self-confidence and dare to do what you want.

According to Sofia, managing different styles of people, from different cultures, at the international scale was one of the most vital challenges for her, especially when she was located in the UK, coming from France. For her, team cohesion and team spirit were significant priorities, exclusively with members working remotely from their home offices in different countries.

She also highlights that she did not find intricacies to lead a team of male pre-sales or salespeople in IT. If you demonstrate good management skills and the necessary authority to be respected, there is a total acceptance, especially when you show qualities such as active listening, empathy, and non-judgment, says Sofia.

In many scenarios, Sofia had to fight against some stereotypes regarding gender among the executive teams and prove that a woman can be a great leader than a man with her particularities and personality. We, as women, have probably to prove more than a man in a leadership role, atleast in some organizations, she said.

5Discovery explores various new ways to support people in their personal development. The company believes that there is still more to do to support disabled people, senior people, and in health management.

In the education field, 5Discovery already proposes real-time VR Rooms, where students or trainees can interact with each other and learn from the immersive context with pedagogical tools. When a person is confronted with a concrete environment, he/she learns faster and better with enthusiasm.

Moreover, 5Discovery is reinforcing its partnerships with prominent universities laboratories to build efficient VR environments with intelligent interactions and experiences. For instance, the company currently is investing in VR Rooms to stimulate creativity by providing specific tools like Dschools but in a virtual mode.

Artificial intelligence will also help design tailor-made learning experiences and take training to the next step by individualizing the experience.

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Sofia Rufin: Powering the Development of Soft Skills Through VirtualReality - Analytics Insight

Cal Poly San Luis Obispo taps VR for diversity, inclusion training – EdScoop

Faculty at California Polytechnic State University,San Luis Obispo have been awarded funding to develop diversity, equity and inclusion training using virtual reality, the university announced Wednesday.

A $45,000 grant from the Public Interest Technology University Network, a partnership of colleges and universities that supports the development of new civic technology, will support faculty to develop new VR tools that can be incorporated into programs like sexual and gender harassment and LGBTQ+ inclusivity training.

One of the issues with how current trainings are structured is that there is not an opportunity to put what youve learned into true practice and when youre faced with responding to an incident of bias or harassment, it can be challenging to speak up or do something, Christine Hackman, an associate professor of kinesiology and public health at Cal Poly who will be working on the development team, said in a press release. The virtual reality scenario gives the user a scenario where something does appear to actually be happening and gives them a real-life practice session.

The team of faculty researchers, as well as several student research assistants, are working with partners in their community, including Cal Poly Safer, the Gay and Lesbian Alliance of the Central Coast and the San Luis Obispo County Behavioral Health Department, to gain a deeper understanding on how VR tools can be used to improve inclusion and equity and ultimately create a workforce and community that is better prepared to respond to and help stop instances of harassment, the researchers said in a press release.

Virtual reality technology is an effective technology for active and experiential learning, according to Educause research, and has been shown to promote engagement with learning and deepen interaction with complex problems.

And as such a powerful and versatile tool, many other colleges and universities have used VR to simulate real-world scenarios to support training, including Arizona State University, where faculty are using the technology to simulate virtual therapy sessions for students studying social work or mediation for law students.California Community Collegesis using VR to reimagine its science labs so students can get hands-on lab experience while they learn remotely during the pandemic.

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Cal Poly San Luis Obispo taps VR for diversity, inclusion training - EdScoop

Pandemic has slowed interest in virtual reality but it’s also helping connect people in surprising ways – CBC.ca

With the COVID-19 pandemic forcing many people to spend more time than usual indoors over the last few months, one might think it's the perfect time to jack into another world with the help of a virtual reality headset.

But while VR and related technologies have been slowly growing in popularity, there hasn't been a COVID-inspired spike in interest among consumers.

"We have seen an increase in adoption over the last year. Do I think that that's necessarily specific to COVID, or that COVID has had a big impact on that? I don't know," said Stephanie Llamas, a head researcher at Superdata, a market analysis company owned by Nielsen that specializes in the virtual reality and video games industries.

Instead, she told Spark host Nora Young, the pandemic may have put the industry's expansion plans on hold.

Tech pioneer Jaron Lanier is widely credited with coining the term "virtual reality" in 1987, to refer to technology that plunges a user into a simulated world. It's been pegged as the next big thing ever since. But it hasn't really caught on with the general public.

"People were expecting Tron," Llamas said of the early experimental prototypes in the 1980s and '90s such as Nintendo's neck-straining, red-and-black flop the Virtual Boy.

"They were expecting to go into another universe and really expecting what we see [in the latest devices] today."

For now, though, consumer VR remains a slender slice of the bigger gaming pie. Sony sold millions of its PlayStation VR headset since it launched in 2016, but the Japan-based gaming giant was relatively silent on VR's role when launching its newest console, the PlayStation 5 in November.

VR arcades locations where customers can rent the use of a headset for a limited time are closed like other nonessential businesses.

Without that first hit, fewer people will be convinced to buy a headset of their own which could cost anywhere from $400 to over $1,200 falling back on more widely available solutions like the now-ubiquitous Zoom call.

"We really anticipated location-based entertainment being a huge driver this year, and it's non-existent," said Llamas.

That doesn't mean VR and related tech aren't popular in one form or another, however.

Llamas said that augmented reality, which superimposes digital images onto moving real-life camera footage, is extremely popular. They're just better known as "filters" in social apps like Instagram or Snapchat.

While the pandemic hasn't been a particularly close friend to the consumer VR market, the technology is making headway in applied education, where hands-on training has become more challenging.

Bow Valley College in Calgary, for example, recently incorporated VR training into their nursing program.

"So you put the headset on, and you see [a digital avatar of] the patient. You see the environment with the bed and windows. The environment is very, very real," said health and community studies dean Nora MacLachlan.

Currently, the VR program is designed to simulate observing a patient with possible respiratory issues. Students pick up a virtual stethoscope, and listen to the digital patient for breathing sounds related to pneumonia, asthma or Chronic obstructive pulmonary disease (COPD).

Bow Valley College started the program about six months before the pandemic, including the setup of a lab with 11 VR stations for students to run through the classes together.

The simulation is also able to build virtual patients of varying ages and ethnicities. MacLachlan says this is crucial to help patients build familiarity and empathy with many different kinds of patients potentially more than might be available during the same lesson with a smaller pool of real-life patients.

"It's extremely important for our learners to have the experience with diverse populations and be prepared to have those experiences when they go into the health-care environment," she said.

MacLachlan says they're working on adapting the program for a regular desktop computer for students at home. They're also hoping to expand the program to include scenarios to assess cardiac or EEMT eyes, ears, nose and mouth conditions.

Rather than peering down someone's esophagus, David Culos is using VR to help pilots take to the skies.

An airline pilot for 25 years, the Toronto-based Culos found himself grounded along with most of the commercial airline business in March. He's since pivoted his experience in pilot training to develop AlphaVR Flight Simulation, a program that can provide a sophisticated simulation of an airplane's cockpit.

AlphaVR's setup uses both a VR headset and a simplified cockpit, complete with physical flight sticks. Even with a physical component, Culos said a VR flight simulator built to handle all the tasks required of actual pilot training could cut down operational costs.

"The industry standard for our training [costs] somewhere between five and 10 million dollars apiece, and cost thousands of dollars an hour to operate with a team of maintenance technicians," he said.

As a pandemic-era bonus, he added that it would allow instructors and students to communicate remotely instead of being in the same room for lessons. It might also help boost the number of training spots that may be needed whenever the pandemic winds down.

"We are going to see thousands of pilots come back to work after a long absence, and they're going to need, in some cases, some additional booster training above what's required of them by the regulations," he said.

"With a lower cost solution, we can immerse people and run them through a familiarization session if you would, and get people back up to speed that way."

Both MacLachlan and Culos noted that incorporating VR technology into their training could help gather crucial session data that could help refine training in the future.

Eye-tracking software can monitor where a pilot looks during a simulated emergency situation, for example, or track exactly when a medical student detects a patient's physical ailment.

Llamas says this kind of data about how people use VR, AR and related technology can not only help refine these training programs and other industry uses, but also help tailor the next generations of consumer devices as well.

"I think there are a lot of assumptions that are made about how people should or will experience virtual reality. That isn't always the case," she said.

"The data is showing us how different folks can create experiences that are going to be the most beneficial."

Written by Jonathan Ore. Produced by Olsy Sorokina.

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Pandemic has slowed interest in virtual reality but it's also helping connect people in surprising ways - CBC.ca

Jaguar Is Testing the Limits of (Virtual) Reality – HYPEBEAST

Jaguar has a long and illustrious history of racing, but its future isnt just destined for real life. Following on from its Vision Gran Turismo Coup, which was built in 2019 for Gran Turismo Sport on the PlayStation 4, the British marque has embarked on a new future developing not just a race car for Gran Turismo 7 on the PS5, but by also building it in reality.

Dubbed the Jaguar Vision Gran Turismo SV, the new model combines a look at the future with elements inspired by the past, drawing inspiration from Jaguars racing heritage and the cars that helped to define it. For instance, the car features a huge rear wing that draws from historic styles, such as the XJR-14, while from a side-profile, the flowing lines recall the C-Type and D-Type.

Designed as the ultimate virtual endurance racer, the car had to live up to Jaguars racing past. As a result, it is covered in a circuit board livery that nods to milestones such as the Le Mans debuts of the C-Type and D-Type in 1951 and 1954, respectively, while its overall low-drag and highly-aerodynamic shape continue to reference history.

Yet, bringing it into the future are a whole host of different technical features and mind-warping performance figures. Four Jaguar Racing and SV-designed electric motors each power a separate wheel, coming together to give the GT SV 1,877 HP and 3,360 Nm of instant torque alongside the traction and dynamics benefits of intelligent all-wheel-drive and torque vectoring systems.

The results are 0-60 MPH in just 1.65 seconds and a top speed of 255 MPH, which can be delivered all day long during a 24-hour race such as Le Mans. Aerodynamic solutions have been considered all around the car to keep it stable at such high speeds, for example by incorporating a sculpted underbody to aid airflow thus reducing lift, as well as effective components such as the deployable rear wing, the front splitters and fender vents. Altogether, it will produce 483kg of downforce at 200 MPH.

Jaguar and its teams Jaguar Design, SV and Jaguar Racing have created something truly extraordinary. While it may only be playable in a video game, this by no means makes it any less of a driving experience. Four electric motors redline at 40,000 RPM, delivering a sound that is purposeful, distinct and futuristic, while elements such as a liquid nitrogen battery cooling system will show just how hot the car is getting during an endurance race, blowing off steam from the rear.

To find out more about the Jaguar Vision Gran Turismo SV, HYPEBEAST spoke with the marques creative designer Oliver Cattell-Ford about all things virtual and how this has been translated into real life. Read on to learn more.

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HYPEBEAST: What are the differences between designing a car for the digital world and one for the real world?

Oliver Cattell-Ford: Its so exciting to be able to make a car purely for a video game and a digital world. As you can imagine, the opportunities are limitless in terms of what you can do, you dont have the normal constraints of money stopping you from doing the things you want to do, and you also dont have to manufacture it in masses as well. All of these things can be thrown out of the window you can do whatever you want, which is awesome.

What are the creative limits?

Thats the hard thing because we had to set our own limits. Throughout this project, we wanted it to feel believable, you want people to feel like this could be real. At the same time, you want to push the boundaries to make something more exciting than you could do in real life its finding that fine balance.

How did you create a visceral experience for the design of a virtual (and electric) car?

We very strongly believe in an electric future for Jaguar, and this car had to be electric for us. The vision from the start for the SV was to create the first endurance race car that could complete a 24-hour race, to be the first metric car that is capable of doing that. We thought of lots of different ways to do that and the technology behind that and how it would work to achieve that.

No one wants to be stopped in the pit lanes for five hours to charge batteries up, so we thought of ways to do it better. One of the biggest limitations with charging batteries fast is the heat that you get from that, the faster you charge a battery the more heat youll get, and the more youre damaging the battery. We thought about this liquid nitrogen cooling system that we have integrated into the car there are loads of little stories like this that could work in reality, but we havent had to engineer it or do thousands of hours of testing, so its nice to put these elements in.

So youre using realistic technology to create a car for the game?

I was watching a program last year Sometimes [people] use liquid nitrogen to overclock computers to make them faster. They pour liquid nitrogen on the processor to keep it super cool, you could see the steam blowing off of it, its amazing. Not only would that work for our batteries but it would help create the drama for the game, you see the steam at the back of the car when its really hot.

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Youve also built a real version of the Jaguar SV, right?

Yes, its a physical model but it doesnt drive. Its just to show how awesome it can look. Its also to generate excitement around it; we started building it before COVID-19 kicked off, so were hoping we can get as many people as we can to come and see this. Its also a showcase of the level of detail you have to go to now for a video game car.

What challenges did you face when creating the car in real life?

The challenge started when we first got this brief of course, we jumped at the opportunity to make a Gran Turismo car. You assume that you can do it quite quickly, you think that there are a lot less details going into it. But, once you realize that people will be sitting in this car in virtual reality and they can see every little detail, in the interior for instance, you quickly realize that the level you need to reach on this is virtually the same as a real car wed make. Thats when we realized how long it was going to take and how much development time were going to need. Part of making a model is that wed done a lot of that hard work so we thought wed show how it looks in real life as a physical model.

How can the car in the game act as an experience for someone whos never driven a car in real life?

That question reminds me of when I was a lot younger when I was too young to drive. I was playing a lot of racing games myself, so I have been thinking about that. What did it feel like? To have that as the closest thing to driving when youre that age is really cool. To think of the fact that some people will be driving our car for the first time, we want to get them as excited as I am about driving, and about driving on a track and how much fun it can be. We want to share the excitement that we have for design, about the brand, and its potential.

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Do you think a virtual automotive world could take over real-life driving and racing?

I like to think that real racing will continue with virtual racing, but I think virtual racing will continue to grow and grow.

Id like to think, in an ideal world, that youd still have the same amount of physical racing in the real world, but youd also have a growing number of people who are into eSports. I guess there are so many people who cant afford to do a track day, so its cool that anyone can do it through gaming with a much smaller budget. The more that becomes closer to reality, the less the divide will be.

Aside from the technology and design what makes this car so special in the game, and subsequently, in real life?

As an exterior designer, the most special thing is that we tried so hard to reference our historic race cars. A lot of players of Gran Turismo wouldnt know anything about those cars. I really believe that those cars are quite beautiful, and to get some of the form language the surfaces and the shapes we had on those cars have been carried over we had a few of these historic race cars that we love and we had them lined up and thought, what shall we do with the front fenders should it be more like the C-Type or the D-Type? The challenge is that we want to use those cars, but its got to look ultra-modern and futuristic. We did that through futuristic details such as slim lighting, but there are other exterior elements that youll notice straight away.

Then theres the daylight opening the glass in the car that you look through it tapers when you look at it from a side-view and it gets really narrow. You look at the car and youd say, How would you see out of that? But thats all part of our story with modern technology, in the interior we have screens on the side, like digital side glass that you can look through in the game for an augmented version of the track. Little things like that are things you cant quite do in real life yet, but it gives a cool graphic to the exterior of the car but also a technical story inside. For a race car, you want to eliminate weight and make the structure of the car as strong as possible, so the story works in lots of different ways.

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Jaguar Is Testing the Limits of (Virtual) Reality - HYPEBEAST

Johnson Controls offering remote and virtual reality training at Ducted Systems Academy – HPAC Magazine

Johnson Controls has re-opened itsDucted Systems Academy in Oklahoma City, a 30,000 sq. ft. commercial and residential HVAC training facility featuring two large classrooms and two training labs, offering remote and hands-on classes, including virtual reality (VR) training.

The VR training places students in real-life field conditions, such as on a roof servicing a large commercial rooftop unit, or in a residential home installing a gas furnace or air conditioning system. The technology simulates real-life experiences without having to be in close physical contact with the instructor.

While COVID-19 has disrupted the regular offering of live, hands-on courses, the Ducted Systems Academy team is bringing the commercial and residential labs to the industry through LabStreaming, using Microsoft Teams to collaborate.During these live virtual classes distance learners are provided instruction as if they were in the lab.

For technical courses, procedures are demonstrated on live residential and commercial equipment, with participants able to ask questions and engage with the instructor in real-time.

The Academy provides training for technical, sales, leadership and professional development disciplines in the HVAC industry, including how to:

The training labs feature all residential and commercial equipment that is manufactured at Johnson Controls facilities in Norman, Oklahoma, and Wichita, Kansas, for YORK, Luxaire, Coleman, Champion, TempMaster and Fraser-Johnston. For residential, this includes all gas furnaces, air handlers, heat pumps, air conditioning systems and packaged equipment. The commercial systems used in the training center range from smaller 3-6 ton packaged rooftop units to the newly expanded 25-80 ton Premier platform.

http://www.ductedsystemsacademy.com

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Johnson Controls offering remote and virtual reality training at Ducted Systems Academy - HPAC Magazine

Virtual reality is effective training for lucid dreaming, according to scientific study – Boing Boing

A lucid dream is one in which you're aware of the fact that you're dreaming and can often control what happens. It's a powerful skill to develop for the sake of fun but also as a way to enhance creativity and manage the psychological stressors of waking life. Some people are natural lucid dreamers while others need more practice. One way to increase your chances of having a lucid dream is to regularly ask yourself if you're dreaming. The idea is that if you get into the habit of questioning the reality of your phenomenal experience while awake, you'll also do it while dreaming, thereby triggering lucidity. Now, Radboud University Medical Centre neuroscientists and their colleagues have shown that virtual reality can be an effective training tool for lucid dreaming. According to the researchers, spending waking time in surreal environments (such as provided by VR) inspires us "to question one's reality" with more frequency and focus. Always a good thing to do, I'd say. From Philosophical Transactions of the Royal Society B:

Lucid dreaming has been shown to occur with stronger dream control in patients with bipolar disorders and schizophrenia[] which include dissociative and depersonalization-like symptoms as part of their central pathology. It could accordingly be argued that dissociative symptoms related to VR might instil a sense of 'dissreality' and 'reality scepticism' that increased the authenticity of reality checks. In other words: it could well have been a potential post-VR dissociative state that was 'dream like', rather than the VR content itself, supporting the initial premise of the study, albeit through serendipitous and unforeseen secondary consequence of the primary intervention.

It therefore stands to reason that the tentative gains seen in the VR group could be explained through a combination of several overlapping factors: dream-like VR scenarios provided a training ground for metacognitive reflections; bizarre and novel VR content was subsequently incorporated into participants' dream imagery; and this reminded them of the study goal when noticed. It is further worth considering whether the VR experience itself could have exerted some dissociative effects, which postspectively provided a fertile and convincing (dream-like) psychological state from which to question one's reality, as part of the required lucid dreaming training.

"Virtual reality training of lucid dreaming" (via Daily Grail)

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Virtual reality is effective training for lucid dreaming, according to scientific study - Boing Boing

Ten Years Ago Satoshi Nakamoto Logged Off – The Final Message from Bitcoin’s Inventor | Featured – Bitcoin News

Ten years ago today, the pseudonymous programmer (or programmers) Satoshi Nakamoto logged into the forum bitcointalk.org one last time, and left the Bitcoin community for good. The day prior Nakamoto wrote a final message to the crypto community by offering a quick build and telling developers that theres more work to be done on denial-of-service (DoS) attacks.

When Satoshi Nakamoto was around, Bitcoins inventor was a mysterious enigma and often led developers in the right direction from 2008 to 2010. Bitcoins creator also left a final message to the community when he/she or they added to the thread on bitcointalk.org called: Added some DoS limits, removed safe mode. The message was written over a decade ago on December 12, 2010, and Nakamoto stressed that theres more work to do.

Theres more work to do on DoS, but Im doing a quick build of what I have so far in case its needed, before venturing into more complex ideas, Nakamoto said at the time. The build for this is version 0.3.19. Added some DoS controls. As Gavin and I have said clearly before, the software is not at all resistant to DoS attack. This is one improvement, but there are still more ways to attack than I can count. Im leaving the -limitfreerelay part as a switch for now and its there if you need it. Removed safe mode alerts, safe mode alerts was a temporary measure after the 0.3.9 overflow bug, Bitcoins creator added.

Nakamoto further wrote:

We can say all we want that users can just run with -disablesafemode, but its better just not to have it for the sake of appearances. It was never intended as a long term feature. Safe mode can still be triggered by seeing a longer (greater total PoW) invalid block chain.

While bitcoin (BTC) was swapping for $0.20 per coin, Nakamoto left a great number of technical replies on the forum that month, which addressed the current Bitcoin build at the time. In fact, during the first two weeks of December 2010, Nakamoto was very active on the forum.

No one knows why the inventor left so abruptly, but Nakamoto had shown he was a bit upset the day before his very last bitcointalk.org forum message. This was because bitcoin was mentioned in a viral pcworld.com article called: Could the Wikileaks Scandal Lead to New Virtual Currency?

At the time, Wikileaks was blocked by a U.S. financial blockade and because Paypal, Mastercard, and Visa stopped servicing the nonprofit whistleblowers, Wikileaks leveraged bitcoin donations.

From Nakamotos responses to the Wikileaks subject, one can assume the crypto inventor was very annoyed by the attention the small little network was getting at the time.

It would have been nice to get this attention in any other context, Nakamoto stressed. Wikileaks has kicked the hornets nest, and the swarm is headed towards us.

Bitcoin was changing fast, and Nakamoto seemed to know that he was steadily losing some of the control and people were making up their own minds on how the cryptocurrency should be back then. The same day the Wikileaks article from pcworld.com published, Nakamoto also thanked Hal Finney in a post called: minimalistic bitcoin client on D language?

Six days prior to Nakamoto speaking about the pcworld.com editorial, he responded to someone who said bring it on, after hearing that Wikileaks was considering cryptocurrency acceptance. Again, Nakamoto seemed flustered and wasnt a big fan of onboarding the nonprofit whistleblowing organization led by Julian Assange.

No, dont bring it on, Nakamoto insisted. The project needs to grow gradually so the software can be strengthened along the way. I make this appeal to Wikileaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage, the inventor added.

Nakamotos appeal did not sway Wikileaks and soon after, the nonprofit began accepting bitcoin donations. Bitcoins inventor has not been heard from in over a decade, but there are a number of ostensible emails and messages from the creator that many assume stem from his legitimate accounts. For instance, when Newsweek published a story about Dorian Nakamoto being Bitcoins creator, a post published to p2pfoundation.ning.com on March 7, 2014 says: I am not Dorian Nakamoto.

Moreover, ever since Nakamoto left, there have been many self-proclaimed Satoshi Nakamotos and even clues and messages that have been widely debunked. There are tales from individuals like Craig Wright, a man who has claimed to be Bitcoins inventor for the last five years. Although, Wrights stories have been widely dismissed and debunked by the greater cryptocurrency community.

There was also that time when Bloomberg columnist, Matthew Leising, told people about a so-called Satoshi and published an alleged tell-all about the nakamotofamilyfoundation.org and an individual dubbed: Duality. The patent holder and Hawaiian resident named Ronald Keala Kua Maria said he is Satoshi on a variety of website domains bearing the name Bitcoin and Satoshi.

A man with intense hair like Fabio believes he is Satoshi Nakamoto, but nobody believed Jrg Molts absurd story. In mid-August 2019, a PR firm called Ivy McLemore and the Pakastani Bilal Khalid said he was Bitcoins inventor. Of course, Khalids story was considered ridiculously unfathomable as well. A Belgium native called Debo Jurgen Etienne Guido has told the crypto community he is Satoshi Nakamoto on numerous occasions.

It has also been said that the 47-year-old cartel boss Paul Le Roux could have been Satoshi as well. Still, none of these suspects and self-proclaimed individuals have ever provided a smoking gun pointing in their direction and have always failed to sway the greater crypto community.

As far as recorded history is concerned, Satoshi Nakamoto left the Bitcoin community ten years ago on December 12, 2010, with his final message about adding some DoS controls. Almost everything else from that point forward has been suspect and lacking evidence of legitimacy.

After Bitcoins inventor published the post, the creator must have been curious about the responses and may have been prepared to write one last message. Nakamoto logged into bitcointalk.org on December 13, 2010, logged off, and has not been seen on the forum since then.

What do you think about the last message Satoshi Nakamoto wrote? Let us know what you think about this story in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, p2pfoundation, bitcointalk.org, pcworld.com,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ten Years Ago Satoshi Nakamoto Logged Off - The Final Message from Bitcoin's Inventor | Featured - Bitcoin News

Satoshi Nakamoto’s Last Message To Bitcoin Community …

KEY POINTS

Bitcoin creator Satoshi Nakamoto disappeared from the crypto space 10 years ago and in his last message, he talked about the importance of protecting thenetwork from denial-of-service (DoS) attacks.

In a message, posted on the Bitcointalkforumon Dec.12, 2010, Nakamoto said, "There's more work to do on DoS, but I'm doing a quick build of what I have so far in case it's needed, before venturing into more complex ideas."

Nakamoto added that the improvement he did for what was at that time Bitcoin version 0.3.19 was just temporary because the software was not at all resistant to a DoS attack. "This is one improvement, but there are still more ways to attack than I can count,"he added.

The creator did not post an update after that one. The next day, on Dec.13, 2010, he logged off for good.

There was no explanation as to why Nakamoto suddenly left the community. According to Bitcoin.com, the creator was very active in December 2010. The day prior to his last post, he expressed disappointment over a story on PC World thatsuggested Wikileaks could adopt Bitcoin after it was denied access to PayPal, Mastercardand Visa, technically the three giants of the payments world.

Nakamoto was apparently annoyed by the idea because Bitcoin, at the time, was still a small network run by a small number of people. "It would have been nice to get this attention in any other context,"Nakamoto emphasized, adding that Wikileaks could drive attentionand,therefore, bring in criticism for Bitcoin.

The creator said Bitcoin needs to slow gradually so that the software can be strengthened along the way. "I make this appeal to Wikileaks not to try to use Bitcoin,"Nakamotosaid, adding that Bitcoin was a small beta community and hence, "bringing the heat"could likely destroy it.

While December 2010 was the last public post of Satoshi Nakamoto, there was anemail correspondence between the Bitcoin creator and developer Gavin Andresen on April 26, 2011. "I wish you wouldn't keep talking about me as a mysterious shadowy figure, the press just turns that into a pirate currency angle,"Nakamoto said in the email. "Maybe instead make it about the open-source project and give more credit to your dev contributors; it helps motivate them."

Andresen replied to the email from Nakamoto, but the Bitcoin creator never responded.

Bitcoin is the best known virtual currency, but it may face a real problem next week Photo: AFP / INA FASSBENDER

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Satoshi Nakamoto's Last Message To Bitcoin Community ...

Satoshi Nakamoto’s Last Message To Bitcoin Community Before Disappearing: ‘More Work To Do’ – International Business Times

KEY POINTS

Bitcoin creator Satoshi Nakamoto disappeared from the crypto space 10 years ago and in his last message, he talked about the importance of protecting thenetwork from denial-of-service (DoS) attacks.

In a message, posted on the Bitcointalkforumon Dec.12, 2010, Nakamoto said, "There's more work to do on DoS, but I'm doing a quick build of what I have so far in case it's needed, before venturing into more complex ideas."

Nakamoto added that the improvement he did for what was at that time Bitcoin version 0.3.19 was just temporary because the software was not at all resistant to a DoS attack. "This is one improvement, but there are still more ways to attack than I can count,"he added.

The creator did not post an update after that one. The next day, on Dec.13, 2010, he logged off for good.

There was no explanation as to why Nakamoto suddenly left the community. According to Bitcoin.com, the creator was very active in December 2010. The day prior to his last post, he expressed disappointment over a story on PC World thatsuggested Wikileaks could adopt Bitcoin after it was denied access to PayPal, Mastercardand Visa, technically the three giants of the payments world.

Nakamoto was apparently annoyed by the idea because Bitcoin, at the time, was still a small network run by a small number of people. "It would have been nice to get this attention in any other context,"Nakamoto emphasized, adding that Wikileaks could drive attentionand,therefore, bring in criticism for Bitcoin.

The creator said Bitcoin needs to slow gradually so that the software can be strengthened along the way. "I make this appeal to Wikileaks not to try to use Bitcoin,"Nakamotosaid, adding that Bitcoin was a small beta community and hence, "bringing the heat"could likely destroy it.

While December 2010 was the last public post of Satoshi Nakamoto, there was anemail correspondence between the Bitcoin creator and developer Gavin Andresen on April 26, 2011. "I wish you wouldn't keep talking about me as a mysterious shadowy figure, the press just turns that into a pirate currency angle,"Nakamoto said in the email. "Maybe instead make it about the open-source project and give more credit to your dev contributors; it helps motivate them."

Andresen replied to the email from Nakamoto, but the Bitcoin creator never responded.

Bitcoin is the best known virtual currency, but it may face a real problem next week Photo: AFP / INA FASSBENDER

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Satoshi Nakamoto's Last Message To Bitcoin Community Before Disappearing: 'More Work To Do' - International Business Times

Kelly Evans: The Bitcoin Chase Is on – NBC10 Boston

So many things are different about the breakout in Bitcoin this time around.

You know what I'm not seeing? Any articles about its creator, Satoshi Nakamoto. Anyone tweeting about the latest Bitcoin "breakeven" mining costs. I'm not even seeing any big think pieces or endless PR pitches about how the blockchain will change everything. No one's talking about blockchain, period!

All the smart people used to chuckle at Bitcoin but say, man, but this blockchain thing is the real story.Actually, it wasn't. The tell was when Blythe Masters stepped down as CEO of Digital Asset at the end of 2018. (Masters is the finance rockstar credited with inventing the credit-default swap.) "Masters was the public face of the 'blockchain, not Bitcoin' philosophy," Bloomberg wrote at the time. As of last year, she was working with Motive Partners, an investment firm that "has nothing to do with blockchain," per the Financial Times.

None of that matters now. The story is simply "everyone's buying Bitcoin, so you might as well buy some too." We talked yesterday about the huge pool of institutional capital that's starting to flood into the cryptocurrency. Bill Miller--who's having another huge year--emailed a few additional points about just how much demand could outstrip supply. There are an estimated 47 million millionaires globally, he notes, "so if each millionaire only wanted to own one Bitcoin, they could not," given Bitcoin's fixed cap of 21 million coins.

Also, Miller adds, it's thought that 95% of the current supply is owned by retail aficionados who have low turnover, leaving a very small slice of the pie available for the growing hordes who want to own some. Add it all up and it's no wonder that Bitcoin not only burst through $20,000 yesterday, but has surged above $23,000 today. Scott Minerd of Guggenheim is now saying it could hit $400,000. Sure, why not?

I also think traders who do get their hands on it want to goose this thing to the moon right now in order to show some impressive year-end "alpha." Hence today's subject line; it's the same one from last Thursday, except that time it was about the IPO chase into DoorDash and Airbnb. The chase is on foreverything right now. The Momentum ETF hit a new all-time high yesterday, Stifel notes. This headline sums it all up: "J.P. Morgan creates a 'YOLO' trade to bet on Ark ETFs." Ark being the Cathie Wood firm that is all-in on Tesla, speaking of momentum. Now you can own structured products leveraged on top of that!

So what happens when we turn the calendar to 2021? Maybe a healthy reset, a blow-off top. The vaccine brings back normalcy, the 10-year goes above 1%, the dollar maybe even strengthens, the high-fliers all come down to earth. Or since everyone seems to be expecting this, maybe not.

Maybe Satoshi reveals himself, says "to heck with this whole fixed 21-million supply thing," and Bitcoin implodes in spectacular fashion. Because that's about the only thing I could see collapsing its enthusiasm bubble right now.

See you at 1 p.m!

Kelly

Twitter: @KellyCNBC

Instagram: @realkellyevans

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Kelly Evans: The Bitcoin Chase Is on - NBC10 Boston

Over $20K? Why Is Bitcoin Worth Anything at All? – CoinDesk – Coindesk

Bitcoins price continues to climb, a consistent flow of BTC is leaving exchanges and bitcoin whale sightings are becoming more frequent. But beyond the market frenzy, how does it all work?

Is bitcoin money or a technology? Is it a store of value like gold or does it emulate Milton Friedmans e-cash idea?

And while the world struggles to come to terms with bitcoin perhaps most clearly shown in the discrepancy between bitcoins current price and asset manager Guggenheims $400,000 figure its helpful to revisit the digital assets fundamentals.

Bitcoin's economic basis

Bitcoins groundwork is laid out in the 2008 white paper published by its pseudonymous founder, Satoshi Nakamoto. In the paper, Nakamoto describes their original intentions for the new money protocol, labeling Bitcoin as a proof-of-concept technology functioning as a purely peer-to-peer version of electronic cash.

Nakamoto further describes the Bitcoin network as a decentralized payments system, meaning third-party financial intermediaries (i.e. banks or credit unions) are unnecessary when transferring value with Bitcoin.

The system is also designed to prevent government agencies or anyone else from affecting the Bitcoin networks monetary supply.

Bitcoin was designed to oppose the existing fiat paper money and central banking regime that has reigned now for a century over the global economy, Mark Thornton, senior fellow at the libertarian-leaning Ludwig von Mises Institute, told CoinDesk in an email.

Nakamoto goes on to describe Bitcoins network analogously to gold. The shiny metal has long been held as a store of value due to a few qualities, namely its natural scarcity and fungibility.

In a similar manner Nakamoto wrote that Bitcoin miners expend CPU time and electricity to mimic gold miners smacking away at the Earths crust. In return, they receive a portion of bitcoin from the network itself while sending transactions on behalf of Bitcoin users.

Yet, Nakamotos argument by analogy of bitcoin to gold does not stand alone. Rather, it is on the shoulders of contributions from others, including academics, over many years. Indeed, Bitcoins features such as a hard supply cap and slow inflation rate lends itself naturally to a few select economic schools, particularly those focused on the free market. Valuing the bitcoin cryptocurrency is complementary to these ideologies.

'Free money' economics

Bitcoin has storied academic roots, regardless of its reputation for use in illicit markets. Two prominent economic schools of thought, the Austrian school and the Chicago school, are often cited by Bitcoiners as accomplices in the task to free money from government printers.

The Austrian school was founded by Viennese professor Carl Menger in the late 19th century. Even at the time, Menger was known for heterodox views and for sparring with the dominant economic thinking of the time (not much differently from many Bitcoin advocates today).

Arguably, Mengers greatest contribution to Austrian economics was the development of the subjective theory of value, a component of the study of human action known as praxeology. Menger argued the value of any good is derived from humans themselves; that is to say, no good or service holds intrinsic value.

Mengers arguments were taken further by the next few generations of Austrian economists including Ludwig von Mises and F.A. Hayek in the mid-20th century. Mises, for one, crafted an argument demonstrating that the market created money, as opposed to the view that the government created money, known as Chartalism.

Hayek, winner of the 1974 Nobel Prize, would go on to advocate the creation of a money system outside of government in the later 20th century.

I dont believe we shall ever have a good money again before we take the thing out of the hands of government, Hayek said in a 1984 interview. That is, we cant take them violently out of the hands of government. All we can do is by some sly roundabout way introduce something that they cant stop.

Milton Friedman, the most well-known member of the Chicago school of economics, also called for the creation of a digital currency. Friedman believed an e-cash was not only a necessary component to the newly founded internet but also a logical tool for limiting government overreach.

Friedman famously argued for a k-percent rule (growing the money supply by a set, pre-announced % every year, regardless of what happens in the country) and for having monetary policy set by a computer (where it could not be corrupted by humans), Paul Sztorc, former statistician at the Yale Economics Department and creator of BitcoinHivemind.com, told CoinDesk in a Telegram message.

By the 2000s Friedman believed that the U.S. should just adopt a fixed supply of base money, and declare that they would never change it. Bitcoin instantiates all of these principles.

Bitcoin vs. inflationism

Its important to note that Bitcoin is a technological product backed by, or even adopted by, a previous community. That, in itself, distinguishes it from other fringe monetary movements such as #MintTheCoin, which is a purely community-driven phenomenon.

The central tenet of Bitcoin is its 21 million BTC supply cap. The networks rate of inflation is fixed similarly to how much gold can be mined from the Earth every year.

The issuance of Bitcoin decreases every four years in an event called a halving. These technical events decrease the supply of BTC created every 10 minutes by the network until no more BTC will be mined sometime in 2140.

The Bitcoin networks last halving occurred two months into a global pandemic that spurred trillions of dollars of money printing by the U.S. Federal Reserve and other central banks. Indeed, Bitcoin miner F2Pool included a New York Times headline in the last block mined before the halving:

NYTimes 09/Apr/2020 With $2.3T Injection, Feds Plan Far Exceeds 2008 Rescue

Bitcoins supply schedule mimics gold, making it a complete contrast to central bankers who can create money out of thin air, Thornton said.

As such, bitcoin has performed very well over the past several years as central banks seem to be hell-bent on destroying the value of their currencies. This would, of course, include the Federal Reserve, the European Central Bank and the Bank of Japan especially. They along with many other central banks have reduced their policy rates to near zero, or even negative rates, Thornton said.

Valuing bitcoin

Bitcoin skeptics often decry a lack of intrinsic value, a lack of cash flows and a lack of historical precedent for the digital asset, among other points.

Indeed, a rise above $20,000 per bitcoin does not invalidate bear sentiments, CoinDesk Director of Research Noelle Acheson said. Bitcoin could crash down to Earth at any point. But thats also what makes it interesting as an asset class, she said.

One of the most fascinating things about bitcoin is that it doesnt conform to standard valuation techniques. Theres no cash flow to discount and no physical assets that back it up, she said.

Bitcoin and gold hold some correlations from a theoretical standpoint, but it depends on what point you focus on, Acheson said.

Like gold, it is worth what someone else is willing to pay for it, and that is impacted by overall market sentiment, inflation expectations and technological trends. Unlike gold, though, bitcoins supply is not at all impacted by its price, which is one of the reasons it will always be more volatile: There will never be an increase of new supply to meet increased demand, she said.

Eric Turner, director of research at market data provider Messari, said the $20,000 bitcoin price reached early Wednesday is an important psychological milestone for the digital asset as all investors stand in the green. Moreover, Turner said, bitcoin as digital gold is really the big story of the year, particularly against a backdrop of macro concerns and poor monetary policy.

In my opinion this is just the start for this cycle, which is going to be dominated by larger and more established institutional investors adding allocations to BTC. The real tipping point is if pensions, endowments and sovereign wealth funds start to get in the game. Whether that is this time around or next cycle remains to be seen, he said.

Next stop?

A successive all-time high valuation gives additional credence to bitcoin as a digital asset, Sztorc said. Yet, bitcoin remains aspirational money, he said.

Given the sheer distance bitcoin has to travel (from being totally obscure in the beginning, to being one half of every trade in the future global economy), it is probably more accurate to think of BTC as an investment in a unicorn-style winner-take-all tech-company, he said.

Still, a higher price per unit translates into not only additional attention to the asset but more throughput in U.S. dollars and a larger security budget protect itself against adversaries, he said.

Robert Catalanello, president and CEO of over-the-counter broker B2C2 USA, told CoinDesk in an email bitcoins price rise supports our view that crypto in general, and BTC in particular, is increasingly being viewed as a store of value.

The last few weeks of price action bouncing between a range of $18,000 and $19,600 were a contest of miners offloading mined BTC and new entrants, including many traditional finance clients, and selling from miners, Catalanello added.

There was a tremendous amount of supply from the latter, and that makes the move today even more impressive as we doubt the demand would have been there even three to six months ago to satisfy the supply, he said.

Thornton, on the other hand, contextualized bitcoins breakout within the global pandemic, Brexit and other macro events. An all-time high event does not preclude the possibility of another shape retreat in 2021 like we saw in 2018, although he said he would not be surprised by further price gains.

Despite these reservations nothing has fundamentally changed that supports higher cyber currency prices in the future as well as ongoing attempts on the part of central bankers and governments to capture and control this new form of currency, he said.

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Over $20K? Why Is Bitcoin Worth Anything at All? - CoinDesk - Coindesk

Bitcoin surges past $20,000, erasing 3 years of deep losses – ABC News

By KEN SWEET AP Business Writer

December 16, 2020, 10:40 PM

4 min read

CHARLOTTE, N.C. -- The price of bitcoin rose above $20,000 for the first time Wednesday, as the speculative digital currency topped its previous peak reached shortly after it became tradable on Wall Street three years ago this month.

Like other instruments used to store value in times of uncertainty, bitcoin has benefited from the pandemic that has pushed other commodities like gold, silver, platinum to multiyear highs. Because of bitcoin's structure, few coins are being created anymore and there is relative scarcity.

Heres a brief look at bitcoin:

HOW BITCOINS WORK

Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who mine them by lending computing power to verify other users transactions. They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with U.S. dollars and other currencies. Some businesses also accept bitcoin, but its popularity has stalled out in recent years.

WHAT HAPPENED?

Bitcoins got their big Wall Street debut in December 2017, when bitcoin futures became tradable on the Chicago Mercantile Exchange and the Chicago Board of Trade. The fervor and interest in bitcoin heading into its trading debut pushed the digital currency to record highs. The currency, which was worth less than $1,000 at the beginning of 2017, climbed up to $19,783 by the end of the year.

But once the trading began, bitcoin futures fell sharply over the course of several months. A year later, the currency was worth less than $4,000. Investors and bitcoin enthusiasts at the time said the 2017 jump was largely caused by speculative interest and media attention.

HOW MUCH IS IT NOW WORTH?

One bitcoin is worth roughly $20,700, according to Coinbase, a major digital currency exchange that also trades other tokens and currencies.

But the value of bitcoin is volatile and moves hundreds or even thousands of dollars in the course of a week. A month ago, it was worth less than $17,000 and a year ago it was worth less than $7,000.

Bitcoin is a highly speculative investment and has not performed as well as more traditional forms of investing, like stocks or bonds, unless a buyer was in the currency years before it caught on. For example, three years ago The Associated Press bought $100 worth of bitcoin to keep track of the currency and to possibly build stories about how businesses were accepting it. That portfolio only broke even this month.

WHY BITCOINS ARE POPULAR

Bitcoins are basically lines of computer code that are digitally signed each time they travel from one owner to the next. Transactions can be made anonymously, making the currency popular with libertarians as well as tech enthusiasts, speculators and criminals.

Bitcoins have to be stored in a digital wallet, either online through an exchange like Coinbase, or offline on a hard drive using specialized software. While the bitcoin community knows how many bitcoins exist, where they all are is anyone's guess.

WHOS USING BITCOIN?

Some businesses have jumped on the bitcoin bandwagon. Overstock.com accepts payments in bitcoin, for example.

The currency has become popular enough that more than 300,000 transactions typically occur in an average day, according to bitcoin wallet site blockchain.info. Still, its popularity is low compared with cash and credit cards, and most individuals and businesses wont accept bitcoins for payments.

HOW BITCOINS ARE KEPT SECURE

The bitcoin network works by harnessing individuals greed for the collective good. A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction. The blockchain prevents rogues from spending the same bitcoin twice, and the miners are rewarded for their efforts by being gifted with the occasional bitcoin. As long as miners keep the blockchain secure, counterfeiting shouldnt be an issue.

HOW BITCOIN CAME TO BE

Its a mystery. Bitcoin was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. Bitcoin was then adopted by a small clutch of enthusiasts. Nakamoto dropped off the map as bitcoin began to attract widespread attention. But proponents say that doesnt matter: The currency obeys its own internal logic.

In 2016, An Australian entrepreneur stepped forward and claimed to be the founder of bitcoin, only to say days later that he did not have the courage to publish proof that he is. No one has claimed credit for the currency since.

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Bitcoin surges past $20,000, erasing 3 years of deep losses - ABC News

Column: From Bitcoin to Canadas new Grantcoin the earth-shaking, energy-sucking impact of The New Money – BOE Report

Cryptocurrency doesnt seem to have all that much to do with hydrocarbons, so one might wonder why the topic is appearing here in the worlds finest oil and gas journal (they let me rant here, so BOE Report earns the title for bravery alone). Heres why. Far beyond the headlines about Bitcoins ascendancy are strong links to the energy world that are worthy of scrutiny. The ____coin revolution has hardly begun, and its already a bull in the energy china shop.

Bitcoin is the poster child for the cryptocurrency movement, though it has many young siblings. Such currencies are an interesting case study in an inconsistency of modern thought; a juxtaposition or intersection of two new generations of thinking running off into the wild blue yonder, one taxing the proven energy infrastructure system with a voracious and growing appetite, while the other line of new-age thinking is trying to dismantle that very energy system.

Well focus on Bitcoin here because its the current heavyweight. Bitcoin was apparently created by someone named Satoshi Nakamoto, with an asterisk the person may or may not exist. No ones ever met him/her/them. Bitcoin took off after a 2009 white paper written by the tech-savvy poltergeist, and if youre not a believer, heres a burn for you from Mx. Nakamotos self: If you dont believe it or dont get it, I dont have the time to try to convince you, sorry.

Regardless, I will remain in my court jester suit whenever discussing Bitcoin, and if you dont like that, I dont care. I dont have to understand the whole weird structure (such as only 21 million Bitcoins will ever exist, 18 million have already been mined, and each new one gets harder to mine) to study the impacts. Bitcoin is the most visible symbol of cryptocurrency, which is often considered synonymously with blockchain, a ledger that records all transactions sequentially in an ever-growing chain. As you can imagine, as that chain grows in size, and as transaction volume increases, that ledger becomes a beast, which is particularly relevant for something like Bitcoin where ledgers are updated with every new transaction in the world (supposedly every node on the blockchain web is updated simultaneously for each transaction, which makes a mockery of the word simultaneously). Anyway, given the increased popularity of Bitcoin, the energy consumption to achieve this hocus-pocus is getting to be something else.

Take, for example, some semi-recent news (2019, which seems like a lifetime ago) that Bitcoin now consumes as much power as Switzerland. Big deal, you might say, Switzerland isnt a world-class energy hog. We all know that Switzerlands economy primarily consists of bankers tiny, ill-tempered, dwarf-like creatures with pointed ears and teeth, and noses so long they droop from gravity. Oh, wait, sorry, that was Harry Potters bankers. What do they do in Switzerland againAnyway, Switzerland, for a small country, does a lot of stuff, and its power requirements are not insubstantial at 58 Terawatt-hours per year. Whats a Terawatt in real terms, you might ask, and Id say I have no idea, except that this total places Switzerland firmly in the top 50 global energy-consuming countries.

Furthermore, that was 2019 data. A Bitcoin tracking website maps out current estimated power usage in real-time and shows a present Bitcoin energy consumption rate of about 90 TWh per year. That is a staggering growth rate in a single year. If Bitcoin were a country, that power consumption level would make it the 35th largest. And as Bitcoins value grows, that power consumption number grows as well.

For what the world is getting from Bitcoin, its emissions footprint is massive about 22 Megatonnes of CO2 per year. For reference, in 2018 the oil sands produced about 83 Mt of CO2, including upgrading (60 Mt without). Before getting too cranked up about the evil of the oil sands number, remember that oil sands output is about 3 percent of total global oil output, which is not insignificant. (And if you hate the oil sands, there are no statistics that will soothe you, so get lost.)

And what exactly is the world getting from Bitcoin mania? Pretty much nothing, for all that power. Per the BBC story, Bitcoin transactions are about 100 million per year, and the global financial system currently oversees 500 billion transactions per year.

Consider the implications of those numbers for power consumption and Bitcoins growth rate. Bitcoin processes .02 percent as many transactions as the global financial system and consumes more power than all but 34 countries on earth. What would the energy consumption look like if Bitcoin transactions made up 1 percent? Would Bitcoin energy consumption increase by 50 times? Well, if it even tripled, Bitcoin energy consumption would vault it to #13 in the rank of nations energy consumption, right beside Italy. If tripled, Bitcoin emissions would exceed that of oil sands production, and, assuming linearity, would still only account for .06 percent of financial transactions globally. And remember, Bitcoins energy consumption went from 58 TWh in 2019 to 90 this year.

From an emissions perspective, the kind that activists get apoplectic over, this is a train wreck of epic proportions. Imagine, in this day and age, introducing an imaginary currency with an apparent target market of dark web criminals and organized crime (a nice bunch that would greatly appreciate a currency that governments cant do anything about, or track), with no redeeming social justice benefits of any sort whatsoever; one that creates a massive environmental footprint for no gain whatsoever; and one whose freewheeling ways will crash like a home-made jet the second it infringes on any governments monetary policy. Of all the environmental progress and posturing thats gone on in the past twenty years, Bitcoin has to be the most profoundly absurd, and yet its energy-swilling growth creates not even a Twitter-bashing from the activist crowd.

By the way, there needs to be some refinement of terminology. All currency is crypto these days, or at the very least digital. When was the last time you went home with your pockets stuffed with a freshly cashed paycheque? We dont even get to do those street happy-dances that cant be avoided when you find ten bucks on the ground. Cash machines are becoming relics, and no one wants cash anyway. I tried dumping a handful of dimes and nickels into a C-Train ticket machine and it threw them back at me, the little electronic message window asking if I was some sort of a smartass. I think. The global economic system would cease to function if money was a tangible asset. Negative interest rates, now the hallmark of some $17 trillion of global debt, wouldnt exist in a world where currency was not electronic. Any transaction of any magnitude is electronic. Youll buy a house and pay for it without ever handling a single dollar.

Anyway, Canadas, and many other, governments are getting into the spirit, and pioneering a brand new currency. Lets call it Grantcoin. Grantcoin is money conjured from nowhere, to be handed out to anyone that does anything that is geared to Canadas climate pledges. As one market player noted, As long as someone is investing in something positive, thats the baseline. Build it, and money will flow. Announce plans to build anything green, anywhere, and you will be up to your ears in Grantcoin before the angels stop singing. New, imaginary, money from nowhere. Im not saying all the funded projects will be bad or ill-conceived many will be fantastic, like methane reduction and tree planting programs. What is ludicrous though is the indiscriminate money-shovelling, a prime reason that Catherine McKenna has coughing fits and fainting spells when asked to account for billions in infrastructure spending. The second and third-order implications of many initiatives, together with the hamstringing of some basic industries (at the same time that many parts of the world are fortifying their own versions thereof, as in Russian/Middle Eastern oil production) are not mapped out or understood, and our federal politicians are utterly incapable of building a strategy that maximizes each regions strengths. They could do that, but no one at the UN cares, so they dont.

So where are wemysterious new currencies are being invented by whoever wants; these new currencies intersect with reality only in terms of massive energy consumption; cryptocurrencies will drive up energy consumption at warp speed at the same time that Grantcoin is trying to drive down consumption elsewhere. We are creating money out of thin air to throw at anything that is deemed to be good, unencumbered by outdated economic consequences like efficiency or rate of return (if we were truly interested in reducing global CO2 levels, wed be shouting from the rooftops, insisting the rest of the world convert from coal to natural gas, and the feds would be building 5 natural gas pipelines to the west coast to send to China, and theyd subsidize those gas sales to stop China from building a planned 250 GW of coal-fired power (yes, thats how much is under development, and for context, in 2020, the US will add 20 GW of wind and solar in what has been a very strong year for that), and global emissions would be reduced just as the US did by switching to gas from coal, but thats not deemed good). I cant imagine what sort of tortured thought processes are required to reconcile those two trajectories, but then again I dont hang out in Ottawa much.

There are good things on the horizon, like if Canada does plant 2 billion trees and if our fuel-providing companies are allowed to utilize such programs to help offset emissions. We will have to see on that one. As it stands now, Canada is hoisting a brave new flag into a very stiff north wind. Some people will be asked to hoist that flag for photo ops, to show the world the good were doing, and some will be asked to lick the pole, to show the world were making the bad guys pay. We are living through a new Soviet-Monty Python-Greenpeace time; fight it as you wish but as long as Canadas political nerve center remains dedicated to international acclaim and not energy enlightenment, its all youre gonna get.

If they dont find it under the tree, youre gonna hear about itPick them up a copy of The End of Fossil Fuel Insanity at Amazon.ca,Indigo.ca, orAmazon.com. Thanks for the support!

Read more insightful analysis from Terry Etamhere,or email Terryhere.

Continued here:

Column: From Bitcoin to Canadas new Grantcoin the earth-shaking, energy-sucking impact of The New Money - BOE Report

Bitcoin cryptocurrency price is at an all-time high, but what is it exactly? – 7NEWS.com.au

Bitcoin has smashed through $US20,000 ($A26,440) for the first time amid increased institutional and corporate interest.

The cryptocurrency hit an all-time peak of $US20,800 and was last up 6.4 per cent at $US20,675.

It has gained more than 170 per cent this year, buoyed by demand from larger investors attracted to its potential for quick gains, purported resistance to inflation and expectations it will become a mainstream payment method.

Its been a wild year for bitcoin, which has soared more than 175% since the end of 2019.

Prices plunged below $4,000 in March as markets around the globe plummeted due to the COVID-19 economic crisis.

But bitcoin has rallied sharply in the past few months as the US dollar weakened.

Crucially, the cryptocurrency has also skyrocketed into the mainstream.

Payments giants Square (SQ) and PayPal (PYPL) both now allow their customers to buy and sell bitcoin.

Money management giant Fidelity is launching a bitcoin fund for wealthy investors.

Bitcoin futures contracts are even trading on the Chicago Mercantile Exchange.

Bitcoin is a (relatively) new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto.

Transactions are made with no middle men meaning, no banks.

Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games.

But much of the hype is about getting rich by trading it.

The price of bitcoin skyrocketed into the thousands in 2017.

Bitcoins can be used to buy merchandise anonymously.

In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation.

Small businesses may like them because there are no credit card fees.

Some people just buy bitcoins as an investment, hoping that theyll go up in value.

Buy on an Exchange

Many marketplaces called bitcoin exchanges allow people to buy or sell bitcoin using different currencies.

Coinbase is a leading exchange, along with Bitstamp and Bitfinex.

But security can be a concern: bitcoins worth tens of millions of dollars were stolen from Bitfinex when it was hacked in 2016.

Transfers

People can send bitcoin to each other using mobile apps or their computers.

Its similar to sending cash digitally.

Mining

People compete to mine bitcoins using computers to solve complex math puzzles.

This is how bitcoins are created.

Currently, a winner is rewarded with 12.5 bitcoins roughly every 10 minutes.

Bitcoin are stored in a digital wallet, which exists either in the cloud or on a users computer.

The wallet is a kind of virtual bank account that allows users to send or receive bitcoin, pay for goods or save their money.

Unlike bank accounts, bitcoin wallets are not insured by the FDIC.

Bitcoin wallet in cloud: Servers have been hacked. Companies have fled with clients bitcoin.

Bitcoin wallet on computer: You can accidentally delete them. Viruses could destroy them.

Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed only their wallet IDs.

While that keeps bitcoin users transactions private, it also lets them buy or sell anything without easily tracing it back to them.

Thats why it has become the currency of choice for people online buying drugs or other illicit activities.

No one knows what will become of bitcoin.

It is mostly unregulated, but some countries like Japan, China and Australia have begun weighing regulations.

Governments are concerned about taxation and their lack of control over the currency.

- with CNN

Originally posted here:

Bitcoin cryptocurrency price is at an all-time high, but what is it exactly? - 7NEWS.com.au