The digital/virtual currency Bitcoin is becoming more and more popular in private people’s economy. It is not only darknet users but also common people and even financial investors that are looking at it. Bitcoin has been around since 2009. At that time, the currency was only a few pence. Behind the virtual money is the idea of creating a currency that is independent of states, central banks and monetary policy. It was invented during the financial crisis.
The virtual money is produced by complex mathematical methods. The reputation of Bitcoin has suffered several scratches: Among other things, hundreds of thousands of “coins” disappeared from the MtGox platform, where bitcoins were exchanged for real currencies.
The German financial news site Deutsche Wirtschaftsnachrichten writes about Bundesbank’s reactions to Bitcoin. Bundesbank has officially commented that Bitcoin is dangerous but it does not want to forbid the currency. The central bank itself is working on an own virtual currency and investigating the blockchain technology, albeit with only a small team.
Those who trade with the virtual coins could potentially suffer great losses, said board member Carl-Ludwig Thiele. “Bitcoin is a speculative object whose value changes rapidly.” From the Bundesbank’s point of view, bitcoin is not a suitable nor safe medium for storing assets. This is shown by a glance at the “very fluctuating exchange rates”.
Thiele, however, sees no reason to strive for a ban on bitcoin as a means of payment. However, users should not be breaching any anti-money laundering rules. Bitcoin also does not pose any threat to the financial system, at least as long as it remains a marginal phenomenon. Per day, only 350,000 transactions with the digital bar is made all over the world. As a comparison, 77 million bank transfers, direct debits and card payments is handled in Germany alone.
The virtual currency gained 25% in shorter period than a week alone. It is gaining traction and some experts see a good future in the network currency. “Bitcoin is a means of exchange which is not issued by a central bank, but by unidentified actors. I do not see it as a currency, “said Thiele. “We can only warn people not to use the bitcoin as a value preservative. But we do not make investment decisions for the citizens.
After our latest post about LED lights we received a lot of positive feedback from our readers. Today we will continue to talk about LED technology and its pitfalls. The LED market has continued to grow ever since it was first discovered as a real alternative to halogen lights. The advantages LED technology provides are many but there are also some concerns surrounding the latest lighting products that exists on the market today. For example, many Chinese manufacturers often use low quality components which has a big negative impact on both quality and lifetime of the led lights. If you compare a led downlight from a German or Finnish brand such as Mueller Licht with the unknown brands coming straight out of China there will be several noticeable differences in both lumen output as well as build quality.
Recent LED panels suffers from severe problems
Led magazine has reported about many severe problems as of late facing the 2017 batch of LED panels being manufactured in China. The problems have affected led panels in both the lower price range as well as panels in the midrange. High quality panels from Osram, Philips and Verbatim have not been affected by this problem as they are manufactured in established factories with high level of quality control. A led panel from finish Valtavalo is a perfect example, it might cost a little bit more for the end-consumers but in the long run the extra cost will surely pay off due to longer lifetime and better overall performance. It is important to not solely focus on the price when purchasing led lights but to focus on the bigger picture. You get what you pay for isn’t too far from the truth when it comes to led lights. For the latest news regarding LED technology we suggest you visit ledsmagazine.com.
Throughout the years the human race discovers new technology that at first glance is embraced by the public, but as always there is a catch to every progress we make even when it comes to the revolutionizing led technology. My Swedish friend Lennart told me that despite the huge benefits of led lights its remarkable how much more expensive these lights cost compared to traditional halogen lights. Lennarts father who’s a farmer, owns several tractors and are therefore often in need of quality led work lights and led bar products due to the type of of work he’s doing. After having long discussions with him over the phone about the rapid growth of led technology he also cannot understand why the prices are that more expensive opposed to, in this case, traditional work lights. One could argue that the new technology which consists of led diodes are more expensive for manufacturers to produce but that’s not necessary the case. It has more to do with the word “new” combined with “technology” which always guarantees overpriced products that in reality only costs a fraction to produce. It is not the retailers fault but mainly manufacturers around the globe doing what they do best, being greedy.
I strongly believe that the smartphones today should have never been allowed on the market in the first place. The simple reason for that is that they keep people from connecting with each other, i mean really connecting with each other in real life. Wherever you go nowadays you see people sticking their head into their phones, like literally, which makes me think that those days where you were sitting on the benches in the park and suddenly happened to meet a new friend from nowhere are long gone. These days people come to the park alone, they sit alone and they leave alone. It’s really sad.
The smartphones today simply stops people from seeing the beautiful things in life. I ride the bus to my job and the simple thing of just paying attention to my surrounding and not letting anything distract me seems to be more difficult to many people then you would believe. There is truly so many things to see each day, and it makes my heart fill up with the joy of all these beautiful things, which I seldom feel when looking at some type of digital screen. Smartphones are here to stay I believe, that we can all agree on, but we need to find a balance between using these devices in our daily lives and actually living life. I do not know what the right answer is but if you are in such need to use a mobile device everyday, try at least to live without it at least one day at the week.
We are in the midst of an exciting period where the development of computer and communication technology gives us new opportunities. What we do with our phones, we could have hardly imagined just a few years ago. It is basically positive that we soon will have entirely new opportunities to solve everyday problems and technical challenges in both medicine, transportation and information. There’s probably not a single area of society that is not affected by this new wave of technology. In the end this will lead to major changes to us humans according Jeremy Howard, CEO of the company dedicated to the advanced machine learning, Enlitic.
Below you will find my summary of Jeremy Howards speech and key points.
1. Traditionally, to teach computers to do things has required detailed planning by the programmer which he or she had to program every command in the smallest of detail.
2. The issue that has driven research on artificial intelligence, machine learning, or big data have been about how to get the computers themselves to draw conclusions and learn based on the information provided by us humans. Howard says that research on self-learning machines began back in the 50’s. The challenge back was much more simplistic, like how to make a computer beat a human in a game of checkers.
3. There are a number of fascinating examples in the presentation on how machine learning can be used. Mr. Howard started a medical diagnostics company. It should be noted that neither he nor his colleagues had any medical training but relied on self-learning computer algorithms provide good diagnoses.
4. The development of AI is moving rapidly forward. It is based on the “normal” development of computers and computer networks. It is also based on the fact that the self-learning computers are great tools for developing better self-learning machines. In other words, the development help itself – it becomes an exponential development. Howard points out that already 25% prefer the computer-proposed text line. Give it a few years and the computer will surpass human beings for translating text.
5. There is tremendous potential in the technology. It can thus be us great benefit and joy. Medicine, nursing, advanced data processing, self-propelled vehicles, automatic writing … The possibilities are limited right now more by our imagination than anything else.
6. Now the computer has become good at reading, watching images, analyze and write, what happens to the labor market? Howard points out that about 80% of the labor force in the developed world are working on what computers have just learned. The pace of development as this is doing that we will face dramatic challenges on the labor market and how we are reshaping society to ensure security for everyone.