BITCOIN vs. THE CURRENT FIAT SYSTEM-WHICH IS BETTER?

The Bitcoin system is growing on many people because of its advantages compared to the Fiat system. However, the fiat system even though branded to be the traditional stem of moving and storing money, still brings a lot to the table. To understand this further we are going to analyze the two systems to the core and see which one is better.

The Fiat System.

The Fiat currency is known as the centralized currency because it is made and controlled by different governing bodies all around the world. As a result, the fiat currency is not fixed in supply as it can be generated out of thin air by any governing body that wishes to do so.

The fiat currency is not backed by any physical commodity, therefore, has no intrinsic value and as such, it is based on the credit and faith of the economy. Because of this, there is a high risk of hyperinflation and the Fiat currency can quickly become worthless.

Most of the modern currencies are fiat currencies and their value is controlled by the rate of demand and supply in the economy. Central banks in different nations have been given the responsibility of controlling the movement of the fiat currency so they are able to control its supply and through this ensure that economic variables such as interest rates and credit supply are managed.

Bitcoin Currency.

This is a new form of decentralized currency that is more digital in nature. Some refer to it as a cryptocurrency because of its electronic nature. The bitcoin currency is made by people called miners through a long complicated mathematical process. The mining process takes place all over the world.

They are limited in supply as only 21 million bitcoins can be issued at a time. This means that the bitcoins get to have some form of value with a potential of the value increasing with time. Bitcoins raise in value every day and as at today, there is more than two billion dollars’ worth of bitcoins.

Its decentralized nature is the fact that it is not controlled by any form of government agency or financial institution. It is open to anyone around the globe creating an ecosystem. Funds are thus controlled by the people who are active in the ecosystem. Therefore, there are no additional prints of the bitcoins out of thin air. The miners are the ones who can bring new coins into circulation.

In the Bitcoin currency though there is no insurance and the transactions are irreversible. Once you lose your backed up data you may lose all your money.

When it comes to which one is more advantageous, it terms of time, and the fiat currency has to wait for the money to get back to the bank for it to be reissued again while spent bitcoins are just deposited directly into the bitcoin economy that keeps growing.

A bitcoin transaction involving different people around the globe is quite easy because you do not get to interact with banks. It also has multiple points of operations because of the availability of miners globally. The fiat system however involves a lot of extraordinary fee payments that involve opening accounts etc.

Bitcoins have more security because there is no list of names of people who own the bitcoins, only the accounts and wallets exist online and thus are tamper proof, unlike the fiat currency where your name is on your account and can be accessed by hackers.

The bitcoin system, though unregulated seems like the safest method to go with financially. Their value is always increasing and it is more convenient overtime because it is open to members of the public.

Scientific Breakthroughs in 2017 You Should Know About

Scientists spend days and months in laboratories and coming out with discoveries that broaden our understanding of our surrounding. Through scientific inventions, we break the boundaries of what we perceive to know about the earth and its composition. These discoveries are educative and informative as well as fascinating. Below are some of the scientific inventions that have been made as the first half of 2017 nears the end.

Drawing water out of thin air A team of researchers at the Massachusetts Institute of Technology and the University of California have developed have a system that is able to convert humid air into liquid water. The scientists have invented a devices that can draw water from the air in weather condition that with as low as 20% humidity. The devices which depend on solar energy, uses a metal-organic platform composed of fumarate and zirconium to draw water from humid air. The device can suck three water quarts in 12 hours if placed in places that are between 20% to 30% humid. According to the scientist, the device is ideal in places that are not accessed to clean water.

Turning hydrogen into a metal Harvard-based scientists have developed means to turn the lightest element-hydrogen into a metal. This is a fulfillment of a prediction made 80 years ago where in 1935 scientists said hydrogen can be turned into a metal if subjected to high pressure. Since then, several scientists have attempted to fulfill the prediction have been unsuccessful in developing a mechanism that can squeeze the hydrogen to the required amount of pressure without breaking the equipment. But in what could be termed as a landmark breakthrough, a group of scientists from Harvard University recently published a paper in the Science journal indicating they have successfully squeezed the element in a diamond vise to a level where it became reflective, a major property of metals.

Studies surrounding the matter are motivated by metallic hydrogen is a superconductor and hence can be used in conducting electricity without any resistance and therefore save a lot of energy that is always lost during transmission as a result f resistance. There are seven planets the size of earth in Aquarius NASA scientists have discovered seven earth-sized worlds with life-sustaining features around Aquarius. The worlds have water and the temperatures can sustain. The discovery has raised hopes of a much earlier hunt for alien life beyond the solar system. The discovery could be extended by the use of powerful highly innovative telescopes that are likely to be launched in the coming decade. This is the first time that several planets the size of earth have been spotted in an orbit around a central star.

New Male Contraceptive Gel that works in Monkeys French scientists have developed a new contraceptive for male monkeys that has the possibility of working as human men contraceptives. The Vasalgel which is in gel form prevents the sperms in the body from entering the seminal fluid. A trial done on monkey showed 100% results of blocked sperms. The gel is administered as an injection in the vas deferens, which are located between the penis and testicles. In terms of actual procedure, doctors likened to getting a vasectomy only that in this case, the gel wouldn’t be permanent.

Recreational Marijuana: Legal or Illegal

From the last few decades it has been observed that drugs addiction rate is growing higher and higher. The responsible authorities are partially responsible for this as they are not spreading awareness or taking serious actions on drugs consumption. Among these “marijuana” a kind of drug gained much popularity among the people and is now highly consumed drug not in Europe but in Asia too. This virus does not leave United States too as reports provided by CNN stated that “one in eight United States adults smoke marijuana”. According to statistical reports it was estimated that people of US spends $53 million on marijuana. One more resource that is US drug enforcement Administration stated that criminals who are arrested for committing crimes test positive for marijuana. Nationwide around 45% youth is consuming marijuana. According to US drug administration “40% young males tested positive when are arrested”. The stats and reports show that marijuana is spreading in the youth very rapidly. For which certain steps were expected to be taken against it.

Latest News: “Recreational marijuana will be legal”

After the victory of “Donald Trump” in the presidentential election of US in 2016, the authorities were expecting from Trump to take some serious action on it. In this regard from January 2017 it is been rumored that “marijuana is becoming legal” is United Stated. According to NBS news reports were also presented in which it was stated that “recreational marijuana will be legal” in US to make the drug market low and business market high. As it is calculated that if marijuana is total banned from the country then investors will face some serious setbacks. So in order to consume the yearly marijuana it is appositive way to use it in “recreational” way. In several polls around 60% people in United States were in a favor of “legalizing the recreational marijuana”. It was also reported that around eight big states and law holders are in total favor of legalizing it. According to rough statistics it is estimated that in 2017 the recreational marijuana industry has 2970 medical dispensaries and 3980 retailers across the country which helped growing the market in a decent way. There are also some obstacles in legalizing the recreational marijuana in the country. Some are discussed below:

Is recreational marijuana will be available freely at any store in US? :

As some of the scientific researches have demonstrated that marijuana is somewhere can be used for medical purpose but it is still a mystery that it will be available in the market freely or not. The question has different answers from different authorities because under the federal law marijuana is considered as “Schedule I drug” which consists of high quantity of heroin and ecstasy. State medical cannabis programs are still hoping that recreational marijuana will be legal in the country.

The trump verdict:

As it is noticed that Trump does not say much about it but in one session with reporters in Jan 2017, in a very casual way, he answered about legalization of recreational marijuana that it is a matter of local states person what they decide will be enforced in the country. According to his word it is still not clear that marijuana will be banned or not.

Legalized states are looking for help from Federal:

As it is obvious from federal that recreational marijuana will not be accepted until and unless it is presented with some restrictions but the states that have legalized it are looking towards federal to legalize it as if the decision were against them then it would be huge setback for them economically.

Trump cabinet plans:

From the last few months when this rumor spreaded that recreational marijuana will be legal it was expected that Trump cabinet and administration will take immediate steps but nothing major happens. Representatives does not satisfying about legalization and it is still a mystery.

Elderly Care, The One Area Of Health Care That is Often Overlooked

Senior care in simple terms is the practice of attending to or providing relevant services to a senior or an elderly person. When one ages, it’s very likely that one develops old-age related conditions such as stiffness and intensive care and help is all that the person needs.

Such people are taken to a senior care home where people actually work by attending to the elderly. This is very important due to the fact they are part of our families and society but only an aging generation.

Statistics

Aging mostly starts at 65 years. Statistics show that in 2014, there were 46.2 million people above 65 years in the United States demographic. This means that the elderly take 14.5% of the population in the United States. This shows that in the near future, a lot more people will have aged statistically. This makes senior care all the more important.

Professional nursing

When it comes to senior care there are two levels of care involved in terms of time commitment and duration of the service. There is the short term rehabilitation where aging people can get assistance in time of need. For instance, an aged person can go under surgery or they may be admitted at a senior care home until the aged is back on track.

The other term considered at a senior care home is long term admission. An aged person can get senior care for as long as he wants depending on his decisions and present condition.

Senior care Facilities

A senior home should have all the necessary facilities to help facilitate care for the aged. A senior home is usually big enough to accommodate as many clients as possible and as a result of these, there should be considerable investment in state-of-the-art equipment.

These equipment should both make the life of these patients comfortable as well as facilitate efficiency among the staff working in these homes.

Help and Guidance

The senior who go to homes for care need help in nearly all their daily activities. The senior homes provide care for seniors at all times and this calls in question the need for sufficient staffing.

At times, it gets really hard for the aged to undertake some activities all by themselves which in turn may frustrate them and as such, they need assistance on-the-go. Senior care restores the art of living freely without having to disrupt one’s family. It keeps them at ease and restores in them the hope for better aging.

Memory care

Old age invites multiple conditions and most of these are normally the negative ones. Some sicknesses get worse day by day proportionally with the age. Memory loss is one of the problems that affect the aged. Senior homes do take care of individuals with such conditions.

An example of such a condition is Alzheimer’s. This is a progressive diseases that disorders the brain slowly. It destroys the thinking ability of an individual and also the individual’s memory is damaged. This kind of condition can be taken care of in a senior home through a series of treatment or management courses, most of which border on therapy.

Well-being of the Aged

The main reason for senior care it to restore or add value and hope to the aged in all that they do. The aged may be our parent, grandparent, or any other individual who is older or us and not necessarily connected to us by blood relation. “We’re seeing more and more people turn to those that are able to provide home care and in-home nurses directly to the elderly. Most elderly people can’t get around and are not mobile, and having a professional and capable care taker is a great way to change this” said CEO of Evercare Ken Wong

A senior feels happy and loved when assisted. It makes them feel whole again. One should also not forget that paying a visit to them is vital in showing them that they are not forgotten despite having put them under professional care. In any case, we are still part of one big family despite their new-found home.