Jeff Garzik's space nodes would 'provide stability for block chain data' and 'limit attacks on the network'.
Bitcoin has already spread rapidly across the globe, but now one of the currency’s core developers wants to take it where no virtual currency has gone before – space.
Developer Jeff Garzik plans to launch several tiny satellites into space which will serve as a node on the bitcoin network.
Historically, it has cost tens or hundreds of millions to launch satellites into space, but a new generation of privately-funded, bootstrapped satellite services has changed all that.
Garzik has two mission profiles for his satellites. One will involve between four and six of these devices, with which he believes he can get full earth coverage (or at least major continents).
The second would see a single satellite go up. He’s hoping that the satellite(s) would help to serve bitcoin users in remote areas where traditional connectivity is patchy.
Even if the full network didn’t deploy, bitcoin users would at least be able to access stellar block chain data for a small amount of time each day, and this would still carry significant value, he says.
“Any bitcoin participant on the ground can still have significant value from reading even 25% of the satellite broadcast,” Garzik reasons.
“The point is to discover ‘honest’ blocks with valid proof of work. The network is self-correcting, even given a reduced trickle of valid blocks.”
“Russia has abolished its highest commercial court and given president Vladimir Putin more power over prosecutors in what many legal experts and businesses decry as a move further undermining the country’s legal system.”
US official to raise yuan issue on Asian trip DAWN.com WASHINGTON, Nov 9: US Treasury Secretary Jack Lew will raise concerns about China's trade policies and seek headway on an Asian trade pact during a visit next week.
Although a significant build-up in greenhouse gases in the atmosphere would alter worldwide precipitation patterns, a widely discussed technological approach to reducing future global warming would also interfere with rainfall and snowfall, new research shows.
Via Szabolcs Kósa
“ Government shutdowns, petty policy squabbles, voter disaffection – democracy doesn't seem to work very well. But what's the alternative? And can we rely on muddling through? It has been a bad few months for western democracy.”
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Richard Florida, one of the world's leading experts on economic competitiveness, demographic trends and cultural and technological innovation shows how developing the full human and creative capabilities of each individual, combined with institutional supports such as commercial innovation and new industry, will put us back on the path to economic and social prosperity.
Are you ready for the Nov. 8 Crop Production and World Agricultural Supply and Demand Estimates reports? Will they rock or rattle the markets?
Due to the government shutdown, USDA did not release its October Crop Production and WASDE reports. Its last reports, released in September, peg the national corn yield average at 155.3 bu./acre. For soybeans, USDA’s yield estimate is 41.2 bu./acre.
USDA will have an opportunity to revise these estimates, as well as others, when it releases its Nov. 8 reports at 11 a.m. CDT.
What information in these reports could shock the markets? Four market experts share their thoughts on the possible surprises.
1. Bullish Tone
Farmers and traders are headed in to tomorrow’s reports expecting an overall negative tone. According to AgWeb’s current poll, 70% of the nearly 400 respondents are expecting the general theme to be bearish for the ag markets.
Kevin Van Trump, president of Farm Direction, says most in the trade are looking for bearish production numbers for both corn and soybeans. "With everyone leaning over the bearish side of the boat, any bullish type number would quickly throw a few of the bears overboard," he says.
"My hunch is both corn and beans could quickly bounce back higher on the initial knee-jerk reaction to the downside," Van Trump says. He says demand for both corn and soybeans are starting to gain momentum.
2. A Really High Corn Yield
Dustin Johnson, a broker with EHedger, says he thinks the biggest surprise could be a higher corn yield. "This would be especially bearish because we don't believe the demand estimates can be increased from current levels," he says. "Any extra production should immediately add to final 2013 carryout."
Johnson notes that a recent Reuters Poll says the average analyst is guessing about 158.9 for a national corn yield and a harvested acre loss of about 1 million. "We think the yield estimate is too low considering the favorable crop ratings and harvest reports," he says. "Ultimately this could set the market up for disappointment, which may result in a bearish reaction for corn." Johnson says his group believes the average yield will be closer to 162 bu./acre.
3. Low Corn Yield
On the flipside, Tommy Grisafi, president of Indiana Grain Company, says the biggest surprise could be less corn acres and a low corn yield. "That would be a huge shocker," he says. "We would be up 30 cents tomorrow."
Yet, Grisafi is not expecting a tremendous jump from USDA in corn yields. "I’m not sure USDA has all the tools or resources to make a huge increase in yields at this point," he says. "Maybe in January, we’ll have a 162 yield. But, I’m not sure they can skip from a 155 to 162, just because every private forecaster in the world says it’s there."
4. Harvested Acres
Joseph Vaclavik, president of Standard Grain, Inc., says USDA has never really accounted for the prevent plant acres that were lost this past spring. "Acreage is the biggest wildcard in my opinion," he says. "A surprise could be seen in either direction."
Van Trump agrees. "I think the reduction in harvested acres for corn could be more substantial than some have been anticipating," he says. "The trade is looking for about a 1 million acre reduction down to 88 million. I am thinking the cut could be more like 1.5 to 2 million acres…closer to 87 million acres."
Experts Share Yield Expectations
How will USDA adjust its national average corn yield and national average soybean yield? Our four experts share their predictions:
WASHINGTON (AP) — Creative industries led by Hollywood account for about $504 billion, or at least 3.2 percent of U.S. goods and services, the government said in its first official measure of how the arts and culture affect the economy.
You may have noticed the terms “sharing economy,” “peer economy,” “collaborative economy,” and “collaborative consumption” being used synonymously. Ideas like “crowdsourcing,” the “maker movement,” and “co-creation” are being thrown into the mix. The space is getting muddy and the definitions are being bent out of shape to suit different purposes.
If you were to look at one measure of a country’s economic health, Gross Domestic Product (GDP) alone leaves out plenty of the factors that make a country a pleasant - or prosperous - place to live.
That’s why, in the depths of a global recession five years ago, the Legatum Institute, a U.K. nonprofit thinktank, made a list of 89 factors to measure a country’s prosperity. Last week, the Institute put out its Prosperity Index rankings for 2013.
Future Generations Report: we need global shared values to secure our future Wired.co.uk A lot of what the Oxford Martin Commission for Future Generations is suggesting hinges on the world becoming a generally more open and communicative place,...
LONDON (Reuters) - After slashing interest rates to almost nothing and printing trillions of dollars, central banks are becoming increasingly reliant on another policy weapon: sucker punching markets.The (Global Economy: Surprise tactics sweep central...
We’ve been talking a lot about the shifting nature of work at Change Agents Worldwide, including the determination of some first principles. At the same time, I have been reviewing my thoughts on what kind of organizational change is needed.