Monthly Archives: August 2017

Opinion: How you can make easy money from the bitcoin bubble – MarketWatch

Posted: August 16, 2017 at 5:51 pm

Let me just say: Bubbles are fantastic. Its never so easy for an ordinary person to make free money as during a financial mania. Just steel your nerves, jump in oh, and remember to get out before the whole thing comes crashing down.

Especially that last part.

Never miss out on a bubble, advised the late Dan Bunting, an old friend and a successful money manager in London over many decades. Youll make the most money from the worst stocks.

And so it proved. The dot-com bubble paid off my mortgage, and then some.

I never thought Id see something so nutty again, yet it seems to be happening again. These digital currencies may be rubbish more on that below but it looks like were in big, fat bitcoin bubble right now. If so, there is seriously easy money to be made.

Bitcoin BTCUSD, +4.87% shrugged off a crash in July and is now setting new highs. It has doubled in a month, despite economic worries and the crisis in Korea.

Read: As bitcoin flies past $4,000, one bull now targets $7,500 by next year

And Fidelity, that blue-chip investment firm, just gave bitcoin the stamp of approval and will include it in its online portal.

Let the good times roll.

A staggering $1.25 billion of fiat i.e., real money has so far been raised by insiders this year rolling out new digital coins that will help finance their new dot-com venture or service or product, according to Coinschedule.com, a website that tracks the data.

Heres how it works: A group of kids in hoodies say theyre going to set up a cloud computing venture and let you finance it in return for some of their new digital currency. You send them dollars. They send you new digital currency. If and when they put down the doobies long enough to get the venture rolling, you can use these new digital currencies to pay to use the service.

Read: Bitcoin rises, so people Google bitcoin, so then bitcoin rises, so then people Google...

Dont make me laugh. Have you ever seen anything so stupid?

Yes, I have, actually. It was 1999. If you werent around then, this is pretty much exactly how it went down.

Anyone over 30 was called a fuddy-duddy who just didnt get it. People actually got fired for not joining in. Only afterward came the excuses and the finger-pointing. Oh, and the lawsuits.

And, I repeat: So far this year these initial coin offerings have raised a staggering $1.25 billion from the public. Booyah, indeed!

A couple of months back I said these cryptocurrencies are nonsense. From a serious investment standpoint thats true. Price is a function of supply and demand. At the moment there is an endless supply of new cryptocurrencies. People are literally creating new ones every week.

Demand is uncertain, unknown and unknowable. I still have yet to hear a convincing argument why anyone needs these things other than a money launderer or someone who wants to, say, play internet poker.

Anyone who claims to come with solid valuation for any of these digital currencies is talking out of his hat. A long-term investor is betting on a poker hand with the cards face down.

Read: Confused about bitcoin? 10 things you need to know

Fidelitys move is a classic trickle-down sign. Manias grow as they gain mainstream acceptance. Other investment managers will probably follow suit. Billionaire Mark Cuban has switched sides: After dismissing cryptocurrencies as a bubble, hes now cashing in.

There are speculative opportunities galore. You can easily buy well-known currencies like bitcoin and ethereum by opening up an account, known as a digital wallet, with a company such as Coinbase or Blockchain. There are even apps on your iPhone.

Or you can jump into the crowdfunding of the next new, hot-off-the-press digital currency through an initial coin offering. This is the digital coin equivalent of an IPO. Bigger risks, but probably even bigger potential gains.

Read: What is an ICO?

I could waste your time trying to evaluate them, but its all guesswork. Its a bubble. Thats all you need to know. Idiots are running around handing out free money. You buy things where you think a plausible narrative will catch hold and drive it higher. You sell when the momentum turns. And you can manage your risks by gambling with the houses money, which means starting small and building your stake slowly as you start to show a profit.

Just remember its a trade, not an investment, and make sure to get out when it all goes sour. That could be in a week, a month or a year. Nobody knows.

This is high-risk speculation, but there is a surprisingly decent chance of easy money. Just caveat emptor.

Now read: 22 internet memes that let you relive bitcoins historic rise

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Bitcoin Price Surges After Agreement on Software Update – New York Times

Posted: at 5:51 pm

A rule in the original software, released in 2009, limited the number of transactions that could move through the system to about five a second.

In the last two years, an outspoken group of Bitcoin aficionados wanted to see the currency expand quickly to compete with Visa and PayPal.

But that camp faced opposition from the so-called core developers, a few dozens programmers who maintain the basic Bitcoin software, generally on a volunteer basis.

At the end of July, some of the people who wanted Bitcoin to expand quickly broke off and created a rival digital money, known as Bitcoin Cash, that can handle more frequent transactions.

That new currency has attracted a small following, and retained a relatively stable value around $300.

Most Bitcoin investors and companies, however, have stayed with the original Bitcoin network and the core developers who are working on it.

The core developers have come up with their own solution to increase the number of transactions running through the system, known as Segregated Witness, or SegWit.

While SegWit does not expand the network as quickly as Bitcoin Cash, it makes it easier to build services on top of the Bitcoin network, such as the so-called Lightning Network, that will allow for faster transactions.

The biggest backers of the network agreed last week to proceed with SegWit, and it is that agreement, on scaling the network, that is the most obvious reason for the recent surge.

Scaling has been the major catalyst for the price rally, said Charles Hayter, the founder of the data company CryptoCompare. The scaling debate has certainly been holding the Bitcoin price back.

Many backers of the core developers have said that Bitcoin is more likely to be a base layer that other services are built atop. In this vision, Bitcoin would be more like gold in the old gold standard than like a payment network.

The gold analogy and the scarcity of Bitcoin the rules of the network dictate that only 21 million will ever be created have led some investors to believe that the value of the currency will continue to rise as more people look to store their wealth in the system.

This vision has caught particular fire in Japan and South Korea, which have accounted for an increasing proportion of all Bitcoin trading this year, taking over from China, which once was responsible for the highest trading volume.

The introduction of SegWit does not resolve all of the arguments that have divided the Bitcoin community.

Many large Bitcoin companies are still hoping to follow through with an agreement, reached in the spring, that would change the Bitcoin software in November to allow twice as many transactions to flow through the network.

The core developers have made it clear in various forums that they do not plan to update the software in November to double the network capacity. When the November deadline is reached, some of the companies hoping to double the network capacity could again split off from the core developers.

There is a history of animosity between Bitcoin factions with vested interests, and these tensions could flare up again, Mr. Hayter said.

For now, though, Bitcoin has been rising steadily, and much faster than any of the competing virtual currencies that have cropped up in recent years.

Earlier in the year, the prices of many other virtual currencies were rising faster than the price of Bitcoin, most of all Ethereum, a virtual currency that has more programmable features than Bitcoin.

The price of Ethereum has been rising this month, but more slowly than Bitcoin and it remains below the record high it reached in June. On Monday, the price stood around $300.

Investors are buying Ethereum and Bitcoin to invest in so-called initial coin offerings, a new method of fund-raising in which entrepreneurs create and sell their own virtual currencies.

Such offerings have continued to come onto the market despite warnings from regulators that some of them may violate securities laws.

A version of this article appears in print on August 15, 2017, on Page B3 of the New York edition with the headline: The Price of Bitcoin Surges After an Agreement on a Key Software Update.

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Bitcoin Is Literally Soaring Into Space After Rocket-Like Surge – Bloomberg

Posted: at 5:51 pm

Space-like adjectives are often used to describebitcoins stratospheric price rise. Now there may be some truth in those analogies.

Blockstream Inc. plans to make the digital ledger underpinning the cryptocurrency accessible via satellite signal so people without Internet access, or in places where bandwidth is expensive, can trade and mine bitcoin. The company also touts the service as additional layer of reliability for bitcoins blockchain data in the event of a network disruption.

Bitcoin has soared more than 50 percent since the start of the month. A plan to move some data off the main network was activated last week in an effort to quicken trade execution and broaden access, helping to fuel the optimism. The price climbed to a record $4,449.90 Tuesday before retreating.

Read more on bitcoin and blockchain

With more users accessing the bitcoin blockchain with the free broadcast from Blockstream Satellite, we expect the global reach to drive more adoption and use cases for bitcoin, while strengthening the overall robustness of the network, Blockstream co-founder Adam Back wrote in an e-mailed statement.

Ground stations, called teleports, will uplink the public bitcoin blockchain data to the satellites in the network, which then broadcast the data to large areas across the globe, the company said.

The network currently consists of three satellites that cover Africa, Europe, South America, and North America. By the end of 2017, Blockstream said it plans to reach almost every person on the planet.

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Bitcoin ‘miners’ dig more than just the money – CNBC

Posted: at 5:51 pm

Yet these new assets comprise just a fraction of the world's multi-trillion currency market. And as a new asset with a smaller pool of investors, cryptocurrencies are subject to wild swings in value. In the last week alone, for instance, one bitcoin has ranged from a high of $4,463 to a low of $3,283.

It's also largely unpredictable which digital currencies will have staying power. Like any new market remember all those dot.com busts? it can take years for a shakeout and for lawmakers and regulators to figure out their oversight approach. Already, the anonymity that comes with these digital transactions raises concerns of money laundering and the funding of illicit activities.

Another major difference is that bitcoin's creation, value and integrity come from complicated, mathematical wizardry, known as "blockchain" technology, that regulates the creation of new units and ensures the security of every transaction involving the digital currency.

That's where Samson comes in as a miner. Basically, new bitcoins come into circulation via these miners. (See chart below.) When 21 million units are reached, expected in 2040 or so, no more bitcoins will be created.

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Bitcoin Is Forking. Again. – Motherboard

Posted: at 5:51 pm


Motherboard
Bitcoin Is Forking. Again.
Motherboard
Just a few years ago it seemed like bitcoin was a singular force, which in retrospect was incredibly naive since it's open source tech managed by a bunch of fighting nerds. After a years-long debate about how best to speed up the bitcoin network failed ...

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SpaceX Dragon Delivers Supplies (and Science) to Space Station – Space.com

Posted: at 5:50 pm

A SpaceX Dragon cargo ship arrived at the International Space Station early Wednesday (Aug. 16), delivering 3 tons of supplies, experiments and even some ice cream for the orbiting lab's crew.

The uncrewed Dragon spacecraft was captured by astronauts using the station's robotic arm at 6:52 a.m. EDT (1052 GMT) as the two spacecraft were flying over the Pacific Ocean, just north of New Zealand.

"Congratulations on a job well done," astronaut Andreas Morgenson of the European Space Agency radioed the station's crew from NASA's Mission Control in Houston. "You've just earned yourself some food." [Watch SpaceX Launch Dragon, then Land a Rocket]

The Dragon cargo ship is filled with more than 6,400 lbs. (2,900 kilograms) of supplies, science experiments and food - and yes, ice cream - for the space station's Expedition 52 crew. SpaceX launched delivery mission Monday (Aug. 14) on a Falcon 9 rocket, which then returned its first stage to Earth in a smooth landing.

Called SpaceX-12 or CRS-12, this flight is SpaceX's 12th cargo flight for NASA under the Commercial Resupply Service program. NASA initially agreed to buy 12 delivery flights from SpaceX, but has extended the agreement to include 20 flights. SpaceX did lose one mission in 2015 when a Falcon 9 rocket failed during liftoff, but the rest have been a success.

"Today has special significance because SpaceX-12 is the last flight on the original cargo resupply contract," NASA astronaut Jack Fischer said from the station. "And this, the 36th flight of a Dragon, stands as a testament to a burgeoning commercial industry that has become a pillar of support to NASA's and really all of humanity's quest to explore the universe."

SpaceX's Dragon cargo ship flies over Italy (the country's boot shape can be seen upside in the background) while delivering vital NASA supplies to the International Space Station on Aug. 16, 2017.

Fischer and ESA astronaut Paolo Nespoli captured the Dragon using the station's robotic arm. At one point, cameras on the space station captured Dragon as it soared high over Italy, Nespoli's home country.

Most of the cargo riding on Dragon is science gear, a massive haul that includes a protein crystal experiment to research a new treatment for Parkinson's disease, an experiment to grow lung tissue from stem cells and 20 live mice to help scientists study the effects of long space missions. The U.S. Department of Defense also has a small microsatellite prototype on board, and the Cosmic Ray Energetics and Mass for the International Space Station (which has the tasty acronym ISS-CREAM) will study cosmic rays.

The Dragon spacecraft will stay docked to the space station for about a month, after which it will be filled with science experiment results and other items for the return to Earth.

NASA has used SpaceX and another spaceflight company, the Virginia-based Orbital ATK, to make commercial resupply flights the space station since 2012. The space agency has since picked SpaceX, Orbital ATK and a third company Sierra Nevada Corp. to make future deliveries under a new agreement.

In addition to cargo delivery flights, SpaceX will fly NASA astronauts to the space station on a crewed version of the Dragon spacecraft. (NASA has also picked Boeing for astronaut trips to space using that company's CST-100 Starliner spacecraft.)

The first crewed flights on Dragon and the Starliner are expected in mid-2018, NASA has said.

Email Tariq Malik at tmalik@space.com or follow him@tariqjmalikandGoogle+.Follow us@Spacedotcom,FacebookorGoogle+. Original story onSpace.com.

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NASA Astronauts Set To Get Sweet Treat With Next Delivery To International Space Station – NPR

Posted: at 5:50 pm


Newsy
NASA Astronauts Set To Get Sweet Treat With Next Delivery To International Space Station
NPR
This week, a rocket bound for the International Space Station lifted off with 6,400 pounds of supplies. Along with the provisions, medical supplies and experiments, NASA astronauts will be getting a special care package with ice cream. Facebook; Twitter.
Astronauts On The International Space Station Just Got A Big DeliveryNewsy
Unpiloted Dragon Cargo Ship Lands on International Space StationYahoo News

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International Space Station astronauts to view the solar eclipse 3 times – AccuWeather.com

Posted: at 5:50 pm

While millions of Americans gather across the country to catch a glimpse of Monday's total solar eclipse, the astronauts aboard the International Space Station will view the event from a much different vantage point.

The ISS crew members are predicted to view both a partial eclipse and the moon's shadow cast on the North American continent as they make three tracks around the planet 400 km above Earth's surface, according to NASA.

"Observing a total solar eclipse from manned spacecraft is difficult though not impossible," NASA reported.

NASA said the different rates of speed and intersecting paths are the main challenge to viewing an eclipse from space.

At minimum, ISS spends less than 15 seconds traversing the 100-km-wide lunar shadow even when the paths align in space and time, according to NASA. However, Earths horizon extends nearly 2,300 km from the ISS, allowing astronauts to see the lunar shadow if they are close enough during the event.

NASA

The International Space Station (ISS) was in position to view the umbral (ground) shadow cast by the moon as it moved between Earth and the sun during a solar eclipse on March 29, 2006. This astronaut image captures the umbral shadow across southern Turkey, northern Cyprus and the Mediterranean Sea. (Photo/NASA)

The total eclipse will begin on the Oregon coast at 17:15 UT (10:15 a.m. PDT) and will end along the South Carolina coast at 18:49 UT (2:49 p.m. EDT).

As the space station makes its first pass during the eclipse, the crew members will be able to view a partial solar eclipse with approximately 37 percent of the sun covered up, NASA reports.

However, at this point in time, the ISS will not be able to see the umbra, or the darkest part of the moon's shadow on the Earth's surface. The space station will pass over the western United States and southeastern Canada in the first pass. The total portion of the eclipse will not have started yet for the Earth.

As the station makes its second pass through the moon's shadow, the partial eclipse will be visible to the astronauts with 44 percent of the sun covered.

"ISS will witness the moons umbra moving from southwestern Kentucky to northern Tennessee during a portion of this pass," NASA reports.

RELATED: Solar eclipse viewing conditions: Clouds could spoil views in coastal Northwest, Southeast Total eclipse towns stock toilet paper, add cell towers ahead of unprecedented crowds 5 solar eclipse viewing parties you can't miss

"The moons umbra is visible on the Earth from ISSs viewpoint while ISS traverses from southern Canada just north of the Montana-Canada border to the Gulf of Saint Lawrence."

At its closest approach, the space station will be making its way south of the Hudson Bay, far removed from the moon's umbra, which will be passing over southwestern Kentucky nearly 1,700 km away.

However, despite the distance, crew members aboard the ISS should still be able to view the shadow near the horizon.

The third pass for the ISS will bring another view of a partial solar eclipse with 85 percent coverage just minutes before orbital sunset. At this point, the darkest part of the lunar shadow will no longer be visible to crew as the umbra will have lifted from the Earth's surface as it makes its transit.

"Because of atmospheric friction and other ISS activities, the orbits undergo small changes from week to week," NASA reports.

The most precise timing will be available on NASA's ISS observations website.

Click on the banner above to visit AccuWeather's center for the Great American Eclipse.

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Boy Scouts Launch Science Project To International Space Station – CBS Chicago

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August 15, 2017 10:46 AM By Bernie Tafoya

CHICAGO (CBS) A Boy Scout troop from the northwest suburbs got a chance to see their dreams and more lift-off into space on Monday.

Andrew Frank, 16, and several other scouts from Troop 209 in Palatine were at the Kennedy Space Center in Florida, and other members of their troop were at a watch-party in Arlington Heights, as a Space X Falcon 9 rocket took off, carrying the scouts science experiment to the International Space Station.

We were all counting down with the clock as it launched off. It was really a big sense of excitement with the whole team, Frank said minutes after the rocket headed into orbit. Everyone kind of cheered and threw their arms up in the air when it actually launched. It was really cool.

Adult project lead Norm McFarland said the experiment was designed to see whether an organism in this case, E. coli mutates at a different rate in low gravity.

We think there could be implications here for either tissue growth or maybe something in cancer research, McFarland said.

Frank and his team of about a dozen scouts put in more than 5,000 hours of work on the experiment before launching it into space.

When we get our data back, were going to have to go through all the pictures, all the data. Were going to have to analyze it, and put together our report, he said.

McFarland said it will take at least three months to analyze all the data once the 24-day experiment on the station has been completed. He said the experiment will result in 6,200 pictures, each containing 70 pieces of biological information.

Frank said he and his fellow scouts likely have checked off a number of requirements for several merit badges by working on the experiment.

McFarland said the project began two years ago, with leaders suggesting the idea of trying to get an experiment in space. He said 84 suggested experiments were whittled down to two that were merged into the experiment that is now up in space.

Im a lifelong Chicagoan and could never see myself living anywhere else (except maybe Hawaii!). I was born on the North Side in 1958 but have lived all but the first three months of my life on the South Side. That said, thank (or is that curse?)...

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Space station to test supercomputer bathed in cosmic rays – CNET

Posted: at 5:50 pm

Hewlett Packard Enterprise's unassuming Spaceborne Computer will test supercomputing reliability with NASA's help on the International Space Station.

HAL seemed to have little trouble in "2001: A Space Odyssey," but here's the problem with computers in space: a constant stream of cosmic rays seriously disrupt electronics.

That's why Hewlett Packard Enterprise and NASA are testing how well supercomputing technology works on the International Space Station. A SpaceX rocket scheduled to lift off Monday will carry a machine called the Spaceborne Computer that will see whether software techniques can catch and correct errors induced by the radiation from our sun and galaxy that reaches low Earth orbit. HPE announced the work Friday.

The research ultimately could improve computers here on Earth -- but also get humans to Mars.

"Mars is the next frontier, and we need supercomputing to get there. Mars astronauts won't have near-instant access to high-performance computing (HPC) like those in low-Earth orbit do -- the red planet is 26 light minutes round-trip away," said Mark Fernandez, Americas technology officer at HPE's SGI business unit. Supercomputers can be used for tasks like figuring out what to do if a spacecraft or Mars habitation has a system failure.

The Spaceborne Computer is nothing like the mammoth supercomputers on Earth, which take up rooms the size of basketball courts to tackle complex challenges like simulating the planet's weather or the effects of aging on nuclear weapons. But it uses the same basic technology, including Intel processors and a high-speed interconnect to join the system's independent computing nodes.

In this case, the computer employs a 56Gbps optical interconnect to link its different nodes. That's fast enough data-transfer speed to transfer three episodes of "Game of Thrones" from one machine to another in less than a second.

Space is a tough environment, but it has its perks. One of them is that the machine's water cooling system can poke out into space, keeping the machine from overheating for free. On Earth, cooling data centers is a major expense for companies like Google, Facebook, Amazon and Microsoft that operate thousands upon thousands of machine.

The challenge for the Spaceborne Computer is to get it all working despite cosmic rays. The Earth's magnetic field protects the planet's surface from these electrically charged particles -- protons and other particles that stream in from our sun, elsewhere in the galaxy and sometimes even other galaxies. They carry so much energy they can blast electronics out of whack, corrupting memory and messing up calculations.

Some computers destined for space have special shielding and other protection, but not this one. Instead of hardware changes, the computer employs software layers to for detection, correction and protection, Fernandez said. "Success would be ... correct results for a year," he said.

And that's the kind of reliability that could benefit us even here on Earth.

The Smartest Stuff: Innovators are thinking up new ways to make you, and the things around you, smarter.

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