Monthly Archives: April 2017

Something big happened on March 2, 2017 the price of one unit of bitcoin overtook the price of one ounce of gold. For comparison, one bitcoin equates to around $1250. Although the cryptocurrency did drop back below the auric heavy metal minutes later, the overtaking even for a short time was worth its weight in gold.

Bitcoin, a cryptocurrency developed in 2008, but soaring into the publics periphery in 2013, takes advantage of not being connected to any government or private entity to eliminate the necessity of a third party in financial transactions. Bitcoin also offers anonymity more so than traditional forms of payment which adds to its appeal.

Bitcoin by Zach Copley(CC BY-SA 2.0)

Investment banker and asset manager Spencer Bogart claims that, the price of bitcoin benefits from two main sources of demand: its value as a digital gold and its utility as a payments channel. Without having to rely on the stability of economy when exchanging finances, Bitcoin allows a more secure way of linking money. Bitcoins failsafe is that the mining (the method used to create bitcoin) prevents bitcoin from exceeding 21 million bitcoins, relying on a resource-based economy method.

Is the upsurge in bitcoins worth a sign of whats to come? Japan reportedly recently allowed bitcoin to become legal tender, and Russia, China, and India are looking to utilize the positives of bitcoin for their own economic futures. As three-quarters of the so-called BRIC countries (Brazil, Russia, India, China countries rapidly on the rise), having bitcoin at the forefront of development seems a positive sign for the cryptocurrency.

Credit: Pixabay.

Bitcoin is already prevalent in the Western world when it comes to buying and being paid online through online casinos. Bitcasino, for example, offers bitcoin slot games online that make financial transactions easier. We can learn more about how bitcoin operates by seeing it in successful action.

With the introduction of major brands such as Starbucks integrating bitcoin payment into their services, it should start to see an upsurge in engagement from the general, non-tech-savvy public. This was made available through iPay You, a service that allows bitcoins to be transferred seamlessly.

Bitcoin is not without its share of detractors, who, for whatever reason, condemn the cryptocurrency and its uses. But, Venture Beats Jacob Donnelly claims that the ebbs and flows of bitcoin and its future is reminiscent of another tech boom: the World Wide Web. In comparing bitcoin to the internet, critics should take some peace of mind. The internet faced its share of challenges, but it persevered and pretty much rules everyday life. Give bitcoin some time to iron out the creases and itll be a word as synonymous with modern day as selfie, meme or GIF.

With Coin Dance reporting that over half of bitcoin engagement occurs within 18 34 year olds, and with online engagement in search engines constantly on the increase, it can only be said that bitcoins popularity will grow. Bitcoin may not be the new money just yet, but its certainly a wise investment for the future.

Read more:

Forget money; Bitcoin makes the world go around - Pulse Headlines

In Focus is our gift to the community. A way for us to help show our recognition for the people, businesses, and organizations that help make our city great. The team at KelownaNow.com is passionate about this community and the people that make it amazing. We want to show our friends, neighbours, family and colleagues that we notice them and the fabulous things that they do.

What is your name? Ian Atkinson.

Where are you from and how long have you lived in Kelowna? I am originally from Prince Albert, Saskatchewan. I moved to Kelowna 11 years ago, planned on only staying for a summer and never ended up leaving.

Who is your favourite person to spend time with and why? That is definitely my wife, Lisa. Weve had a lot of fun together over the last 10 years.

If you could go anywhere in the world right at this moment where would you go and why? Ive done quite a bit of travelling and Im always looking for somewhere new. Its cold and rainy here right now, so maybe somewhere hot and dry. Dubai is on my list to get to in the next couple of years, so I would go there.

What is your favourite local store in Kelowna and why? Underground Music on Ellis. Im a fan of vinyl and every time I go in there I find something I didnt know I needed, but suddenly cant live without.

What is your favourite activity? I love to travel and try to do it as much as possible. I have been to Europe a couple of times, Australia, New Zealand, Alaska, a bunch of different islands. My favourite part of travelling is when I can spend some time really living in a destination.

If you had to choose: pizza, tacos, or burgers? Pizza. Easy choice.

What is the most embarrassing thing that has happened to you? I crashed my car into my in-laws garage door a few years ago and everyone has been making fun of me ever since.

What is the most inspiring thing that has happened to you? I went to Fiji when I was 16 and through meeting some locals and seeing their lives, learned that concepts like friends, family and good jokes were universal, while material things, no matter how nice, won't make you happy.

Tell us your favourite childhood memory. My family had a little cabin in Northern Saskatchewan where we spent our summers. I have a lot great memories trekking through the woods with my friends, boating and sitting around the fire at night.

Where do you volunteer or give back to in the community? My wife is great at finding local organizations and causes that need help. I try to donate the skills I have, whether its print and web design, photography or just simple manual labour to whatever is important to her at the time.

If you could change one thing in the world what would it be? Just one thing? Thats a hard one. Id be interested to see if a resource based economy would work in the real world. I think that might have the potential to fix more than one problem.

What is your favourite activity in Kelowna? Im easy. Give me a nice waterfront patio on a sunny day and a cold drink with friends and Im happy.

Where would you sneak away to in Kelowna to spend some time alone? I like to go up to Postill Lake at least once a year. There is no internet or cell reception which is such a nice break to have these days.

Where would you like to see positive change in Kelowna and why? There is a huge challenge in Kelowna right now for young people and low income families to find affordable housing options. I dont know how someone with a minimum wage job or a single person supporting a family can possibly afford to live here.

What do you think makes Kelowna great? Kelowna has a great mix of people who have moved here from other places, and most of them seem pretty happy to be here.

What are 3 things on your bucket list? 1) Live in another country for a year 2) Vacation on a private yacht 3) Go into space (once the kinks are worked out and its like booking a cruise)

Tell us something that not everyone may know about you. Im terrible at basketball. Im 67 so everyone assumes Im great at it. Im not at all.

What is the name of your business/organization? Kelowna Photo Editing.

Why did you get into/start this business? Both of my parents are excellent photographers, so I got my start with photo editing a long time ago. For the last 11 years, I have been doing a lot of editing work with real estate and property photos. Personal photo touch-ups were the next step.

What is the goal of your business? Photos dont always turn out the way we expect. Luckily we live in the digital age where we have the technology to fix almost anything. My goal is to work on any photos that are important to people; weddings, portraits, vintage photos, real estate.

What has been your biggest struggle either in work or life? Finding the time to do all the things I want is always my biggest challenge. No matter how full my schedule is, there are always a few more projects I want to take on, but I still have to find time to sleep and get away from the computer screen a bit.

If you could start all over again would you do things the same or would things be different? I am happy with how things have turned out for me, so I think I would keep it the same.

What do you always find yourself saying? 'I can fix that', it doesnt always turn out to be true, but I usually give it a try.

If you could spend one whole day with anyone in the world who is currently alive, who would you select? Neil deGrasse Tyson. Im kind of a science geek and I think I could learn a few things in a day.

Why do you think it is important to shop locally? Coming from a smaller town, Ive seen how supporting local businesses benefits your own community. Shopping online or at the big box stores may save you a few dollars, but when you can put money into a local business, it ends up coming back your way.

What has been your proudest accomplishment? Tricking my wife into marrying me. Im still not sure how I pulled that off.

Give someone you think that deserves it a shout out and explain why! I want to give a shout out to my wife Lisa Taylor and her business partner Jewels Ferris. They have just moved into a new office space downtown on St. Paul and both continue to be very active members in Kelownas business community.

My choice for the KelownaNow In Focus spotlight is: I would like nominate Jennifer ' Jenner' Simpatico, who owns Petal and Vow, which specializes in Wedding and Event Floral Design. Jenner was one of the first people I met when I moved to Kelowna, we worked together for years and I think she does excellent work.

We encourage you to leave your comments and words of support below and submit your own nomination by clicking HERE. You are also welcome to submit a form of your own by clicking HERE. Thank you, Kelowna.

Excerpt from:

In Focus | Ian Atkinson - KelownaNow

Leaders in Washington, D.C. are turning their attention toward revitalizing an American infrastructure system recently graded a D-plus by the American Society of Civil Engineers (ASCE). The same group rated Kansas infrastructure a C-minus.

Privately owned freight railroads, which spend their own money so taxpayers do not including $635 billion since partial deregulation nearly 40 years ago believe progress will be made through public policy solutions that both enhance public spending and spur private infrastructure investment. Our industry perhaps understands best that optimum performance requires steady capital investment.

Therefore, as lawmakers turn their attention to actual legislation, our industry offers recommendations as a starting point in this sure-to-be lengthy process, simply for the transportation portion of Kansas and U.S. infrastructure:

Stop applying band aids to the insolvent Highway Trust Fund, the pool of money funded almost solely by the gas tax and which is used to fund federal and state transportation infrastructure projects. Because the gas tax does not cover operating expenses, and because commercial users such as trucks do not pay for their proportional use of roads, taxpayers have subsidized the fund to the tune of $143 billion since 2008. We need measures such as a weight distance fee that accounts more realistically for commercial road use.

Do not make things worse by pushing heavier trucks onto transportation networks. Any federal program that boosts truck weight limits at the federal level further subsidizes commercial highway users at the expense of taxpayers, exacerbates deterioration of crumbling infrastructure and tilts the policy scale against a critical freight rail industry. Trucks today dont cover their current impact and heavier trucks will only force taxpayers to further bankroll the underpayment of even heavier trucks, according to U.S. Department of Transportation data.

Enact tax reform to spur economic growth and generate revenues needed for sustainable funding. We need a simpler and fairer tax code, reducing the business rate to a globally-competitive level to broaden the tax base, enhance U.S. economic development and promote growth. Divisive items related to tax reform must not impede the larger goal to enhance competition, which for railroads and American industry in general, will lead to more domestic spending.

Streamline government processes that will similarly unshackle the business community and fuel an American renaissance not seen for decades. By generating policies that focus more on desired outcomes than prescriptive steps, cutting red tape in the permitting process and by actually communicating with the private sector, long-delayed infrastructure projects may finally come to fruition. Not by eradicating regulation, but by instilling good government principles transparency and complete and sound science railroads, trucks and other transportation stakeholders would gain efficiencies that make room for greater innovation and investment.

Ensure the vitality of private infrastructure, namely a freight rail network that serves nearly every industrial, wholesale, retail and resource-based sector of the economy, including energy and farm products, water treatment and fertilizer materials, and a host of goods used in manufacturing in Kansas. This means Washington regulators ditching numerous proceedings to re-regulate freight rail, most notably a proposed measure called forced access, which would allow the government to order one rail company to use its own privately owned facilities on behalf of a competitor. Unneeded government meddling in the operations of this 140,000 mile network that keeps trucks off the road, reduces emissions and employs nearly 5,500 Kansans, is in direct opposition to the larger goal at hand.

To be clear, raising the GPA of Kansas and U.S. infrastructure is no small task. Myriad stakeholders have varying views and solutions. But these principles embody a premise that should be followed in this process: avoid changes in public policy that make things more difficult and increase funding needs.

Ian Jefferies is senior vice president of government affairs at the Association of American Railroads.

See the original post here:

Ian Jefferies: Revitalizing transportation systems starts with sensible ... - Topeka Capital Journal

Is water the new oil of space?

It may be to Middle Eastern oil states such as Saudi Arabia and the United Arab Emirates, who are looking at space as a way to diversify out of the earthly benefits of fossil fuel.

Middle East oil states are investing in satellite technology and trying to transform their domestic economies into digital economies and knowledge-based economies, said Tom James of Navitas Resources, an energy consultant based in London and Singapore.

As space colonizers such as Elon Musk and Jeffrey P. Bezos (owner of The Washington Post) aspire to shrink the cost of space travel, interest has picked up among oil states and others in how to power space settlements using water and minerals mined from the heavens.

Oil states are investing in companies and infrastructure that could one day mine minerals and water found on the moon and in asteroids.

They are investing in it in order to attract business to the Middle East, James said. Oil states have large, empty spaces, relatively small populations and are located near the equator. The UAE has launched a multipronged effort to establish a space industry in which it has invested more than $5billion, and that includes four satellites already in space and another due to launch in 2018.

The Middle East is ideal for launching rockets and spaceships, James said. Its the long-term solution. Oil and gas may not run forever. So they are looking to invest and be part of the new, future economy.

The water is critical. It can be turned into hydrogen to fuel the spaceship, oxygen for breathing or left untouched for drinking and everyday use. Requiring only a four-day trip and containing lots of ice, the moon is a prime candidate for resource extraction.

[John Glenn honored with launch of space station supply ship]

The interest in space mining and industrialization has picked up in recent years as Musk, Bezos and others push outward. Part of the key to unlocking affordable space travel and space industrialization is finding extraterrestrial materials such as water and minerals that do not have to be rocketed up from Earth.

Goldman Sachs wrote a recent research note explaining that space mining could be more realistic than perceived. The bank in the same report said the storage of water as a fuel could be a game changer by creating orbital gas stations.

Most of the minerals will remain for use in space. Some rare, highly valuable commodities could be brought back to Earth. Goldman Sachs, for instance, was quoted in a 2012 interview with Planetary Resources that estimated that a football field-size asteroid could contain up to $50billion worth of platinum.

Asteroid mining could very quickly supply an emerging on-orbit manufacturing economy with nearly all the raw materials needed, according to the Goldman Sachs report.

The possibilities are beginning to register with the business sector.

Within the next five years, James said, mining and energy companies will start thinking about space mining before the shareholders start asking, What is your strategy? and they answer, Oh, we dont have one.

[Elon Musks SpaceX makes history by launching a flight-proven rocket]

The technology already exists. NASA launched a billion-dollar mission in September to vacuum materials from an 2,000-foot-wide asteroid called Bennu. The spacecraft is scheduled to sidle up to the asteroid in 2018, extend its arm and pull in its cargo. The ship will return to Earth a couple of years later.

But it is unclear whether mining on a wider scale is a real business, said Paul Chodas, an astronomer and asteroid expert with NASA.

The technology is there, but its not simple. Asteroids travel through space at tens of thousands of miles per hour. Tracking asteroids and determining their composition is difficult.

Its hard to determine which ones will have the most valuable minerals, Chodas said. He said it is doable, but the question is cost-benefit. Is it worth the cost? We dont know yet. There is simply more work to be done to determine whether space mining is profitable. But its promising.

Chris Lewicki is chief executive of Planetary Resources, a Seattle-area company studying asteroids to find one that is an appropriate candidate for mining.

Lewicki said the mining industry is a natural to make the first move when it comes to recovering space minerals because of its earthbound expertise. He foresees a small, robotic mining operation drilling for water on an asteroid in as soon as about 10years.

This is how [the mining industry] continues, Lewicki said. Mining asteroids isnt a space project. Its a resource project. In the same way having minerals and materials are very important for our economy, space becomes a new medium for furthering that economy.

The regulatory phase got a major boost in 2015, when President Barack Obama signed legislation recognizing asteroid resource property rights.

The law recognizes the right of U.S. citizens to own asteroid resources and encourages the commercial exploration and utilization of resources from asteroids.

In addition to the UAEs space industry, Bloomberg News reports that the Saudis signed a pact with Russia in 2015 for cooperation on space exploration. Abu Dhabi is an investor in Richard Bransons space tourism venture, Virgin Galactic.

Several private companies, including Deep Space Industries, Planetary Resources and Shackleton Energy, are trying to crack the mining potential.

If you have any significant human activity in space, then you are going to need resources, said Peter Stibrany, chief strategist and business developer for Deep Space Industries. It will get too difficult to launch everything from the ground.

[Jeff Bezos shows off the crew capsule that could soon take tourists to space]

Deep Space Industries is four years old and living off seed money from investors and founders. Stibrany said the company is in the technology development stage and working to create delivery systems for lower orbit launches.

He said mining space resources faces what he calls a four-dimensional problem.

The first two are technological and regulatory, which are being addressed.

While the psychological barrier to mining asteroids is high, the actual financial and technological barriers are far lower, according to the Goldman Sachs report. Prospecting probes can likely be built for tens of millions of dollars each, and Caltech has suggested an asteroid-grabbing spacecraft could cost $2.6 billion.

James pointed to nano-sats, small satellites priced relatively inexpensively at $2million each, far less than the hundreds of millions needed to place current satellites in orbit.

The third concern is the lack of a current market in asteroid resources. That should resolve itself when the space population hits critical mass, demanding infrastructure.

Then a business will follow if investors see that a reasonable return is likely over a reasonable amount of time with appropriate risks. That is the fourth hurdle.

The end game, Stibrany said, is that if you have 1,000 or 10,000 people living and working in space, there is no practical way that is going to work without using in-space resources.

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Space-mining may be only a decade away. Really. - The ... - Washington Post