The Solar Superstorm is Coming …Are Nations Prepared?

Yes, a solar superstorm is inevitable, said Professor Paul Cannon, the chair of the Royal Academy for Engineering study group on solar superstorm impact assessment. Before examining the impending sun solar superstorm, it is important to briefly explain what exactly a solar superstorm is. As the name suggests, a solar superstorm originates from the sun and is caused by ejection of tonnes of billions of particles and protons, which travel at extreme speed of a million miles per hour.

A sun solar superstorm is expected to happen in the near future and it could cause damages on electricity grid, GPS systems, satellites systems and aviation. Mobile network communication may also be affected. The earlier nations get prepared for this impending solar storm, the more that are able to minimize the damages. 

Cutting communication could cost business and nations a lot of losses. Similarly, if countries have to go without power because of damages or blackout caused by the sun superstorm this also translates to immense losses. The avionics communication systems could also be threatened and this implies that airline operations may be halted owing to threat. 

Solar superstorms occur between 100 and 200 years and the last major storm was witnessed in 1859, the Carrington event which was named after the British astronomer Richard Carrington.  This was the last true sun solar superstorm.  

According to the patterns in which these storms occur, there has been no major superstorm since then and only minor ones have occurred.  It seems like the time is ripe for a major superstorm to strike.  The report released by the Royal Academy of Engineering- Extreme space weather: impacts on engineered systems and infrastructure, warns that nations should get prepared but not panic. 

Most of the superstorms miss the earth and they travel harmlessly into space.  It is estimated that only about half of those storms that travel towards the earth interact with the environment and cause some damages. Otherwise, about half of those waves do not cause damages. 

These storms are regular occurrences and although most of them do not reach the earth’s atmosphere, some do and could cause damages. There have been such solar superstorms, which have reached the earth, and one is the Carrington Event, which occurred in 1859. This was the last major superstorm, which affected telegraphy operations in Europe and North America.

There have been other small storms, which raised the levels of atmospheric radiation in 1956, 1972, 1989 and 2003. Major sun superstorms occur after every one to two centuries and if they reach the earth, they could cause extensive damages including polarizing satellite communication. 

According to the report released by Royal Academy for Engineering headed by Paul Cannon, a superstorm is inevitable. It will strike in the near future causing damages on national grid, satellite communication and mobile networks. 

In addition, passengers who could be flying may get exposure to a dose of radiation though it may be insignificant. The academy report suggests that UK needs to create a Space Weather Board to oversee impact assessment from superstorm. Apparently, it is not possible to predict the occurrence of the storm more than 30 minutes before it happens. 

However, the report has noted that people should not panic but instead they should be prepared. When the sun solar superstorm strikes, it could damage satellites and some may never recover. It will also cause damages on transformers and knock down power line causing major blackouts.

Little Known Bitcoins Gain Value by Over A Million Times ...Peaked At $1,250 in November 2013

Since its introduction in the market in 2009, bitcoin has risen in value by over a million times. Crypto currencies are little known by many people and recently one of these types of virtual currencies has hit the virtual financial market in a storm. Introduced in 2009, Bitcoins have grown in leaps and bounds, and today the crypto-currency is trading way above $1000 dollars mark. 
 
A few years, if you were to buy a bit coin, you would get close to 1,000 bitcoins in every $1 US dollar. Today, a couple of years down the line, things have turned upside down and buying a single bitcoin will cost you more than $1000 dollars. The shift to using crypto currencies is creating a strong market for these kinds of virtual currencies.

The rise of Bitcoin has marked the widespread use and application of virtual currencies in the real financial market. Bitcoins are competing with government issued fiat currencies as merchants begin to accept this virtual currency. There is an historic change taking a toll in financial markets and whether consumers like it or not, virtual currencies may influence the way, online trading is done.

And, as the head of currency research Bank of America Merrill Lynch  said, bitcoins, the unregulated virtual currency might emerge as a serious competitor to the fiat or traditional money transfer providers.

Technology is behind the development of virtual currencies and one remarkable example is that of bitcoins. Bitcoins are today being used in trading foreign exchange and buying products online, and the popularity of this crypto currency is picking up so quickly yet strongly. More and more businesses and individuals are now becoming aware of the benefits of using the crypto currency over traditional currencies.

Although the value of bitcoins is constantly changing, it is heading on the higher scale, and as of November 2013, the virtual currency traded at close to $1300. This is an amazing growth considering that in just a few years, about $1000 bitcoins where trading for $1. There are more than $1.5 billion worth of the bitcoins in the market. Millions of transactions occur daily and there is no fixed price for the virtual currency. It depends on the rate at which the currency is trading in the market.

One difference between bitcoins and the traditional currencies is that this virtual currency is not printed by any centralized bank and no government or bank sets its value. The value of bitcoin fluctuates based on supply and demand. To get started using this type of virtual currency, you need to get a Bitcoin wallet. This is the first step in using the bitcoins.

There are different applications through which you can create your bitcoin wallet. A bitcoin wallet is like an app, which you can download and install in your computer or phone using a software wallet on the internet. Bitcoins can be obtained in different ways such as selling goods and accepting payment in form of bitcoins. More merchants are now doing this as they begin to realize the value and benefit of bitcoins.

You can also purchase and sell the bitcoins through virtual currency exchanges or Bitcoins exchanges. This is the common method used by people to obtain bitcoins. You have to be very careful when you trade online with bitcoins, as the frauds are ripe. You can also trade bitcoins with traditional currencies like US dollars.