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      "body": "![BBH5bGc.jpg](https://steemitimages.com/DQmfWnqijQzUtCaL9GS9LqWycv41YTVtqZuZP1Ky95tNbQM/BBH5bGc.jpg)\nSpaceX's monstrous new rocket has officially arrived at Kennedy Space Center in Florida ahead of its debut test launch.\n\nElon Musk -- who founded the space exploration firm in 2002, one year before he launched Tesla -- tweeted photographs of the Falcon Heavy awaiting its big moment inside a SpaceX hangar.\n\nThe exact date of the Heavy test launch isn't clear. The plan was to launch before the new year, but a series of delays pushed it into 2018. A tweet posted to SpaceX's verified account on December 6 said the company is targeting \"early January.\"\n\nWhen the time does arrive, it'll be a nail-biting moment. Musk said at a conference in July that he expects the test flightto fail. If it does, among the carnage will be Musk's personal Tesla Roadster.\n\nHe said earlier this month that he wants to send the car into \"Mars orbit.\" It was later clarified that it'll aim for an orbit around the sun that will, at times, put the car and Mars at equal distances from the sun.\n\nRelated: SpaceX launches used rocket and spacecraft for first time ever\n\nIf the test flight is successful, it'll be a major milestone for SpaceX and the spaceflight industry.\n\nThe Falcon Heavy will be the most powerful rocket in the world, according to specs provided by SpaceX. The only rocket to boast more power than the Heavy was the Saturn V, the NASA rocket that was used for the Apollo moon landings that was retired in the 1973.\n\nThe Heavy will have nearly three times more thrust than the Falcon 9, the rocket SpaceX has used for its past 40 missions dating back to 2012.\n\nStanding at 230 feet, the Falcon Heavy is the same height as the Falcon 9. The Heavy's added thrust comes from two additional rocket boosters strapped to the sides of the main column.\n\nFor the test launch, the two side boosters will actually be refurbished Falcon 9 boosters that have flown on previous missions.\n\nReusing hardware is SpaceX's defining trait. The company has mastered the art of guiding rockets back to Earth for a safe landing after liftoff so they can be used again on future missions. That allows SpaceX to drive down the cost of a single launch.\n\nSo far, SpaceX has safely landed 20 Falcon 9 rocket boosters. After the Heavy test flight, the company will attempt to land all three rocket boosters.",
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      "body": "**In the dry heat of a South African savannah, a team of scientists is listening intently to the low rumbling sounds emitted by the world's largest land animal, the African elephant.**\n\nElephant communication is interesting because the frequency of their vocalisation is so low that it cannot be properly heard by human beings.\n\nBut by attaching a radio transmitter to these animals, the scientists from the University of Pretoria are able to record and analyse the animals' chatter, hoping to unlock some of the pachyderms' linguistic mysteries. And from that, hopefully help conservation work.\n\nThis project hinges on a simple, often-overlooked, piece of kit - equally vital if you are, say, flying an air ambulance across Norway or simply reading this article via a wireless link - the humble antenna.\n\nAn antenna - made of metal often encased in plastic - allows data to be transmitted and received via radio waves.\n\nMost of us don't give them a thought unless they stop working, but for South Africa's Andre Fourie, they are a bit of a passion.\n\n\"Antennas are very interesting things,\" says the 56-year-old. \"They are highly complex to design, but relatively low-tech to manufacture.\"\n\nMr Fourie is the founder and chairman of one of the world's leading antenna designers and manufacturers - a South African business called Poynting.\n\nJohannesburg-based Poynting started making them in 2001, and now exports them around the world. Its customers include the Norwegian Air Ambulance, the German Olympic sailing team, and numerous mobile phone networks.\n\n![_99205208_staff2.jpg](https://steemitimages.com/DQmWGzPfXWuC5FUXDPtD4khTuRsy9HfhQvinv7uhzZ8wCU1/_99205208_staff2.jpg)\n\nWhile the South African economy is better known for its mining industry rather than its hi-tech sector, firms like Poynting have greatly benefited from Africa's telecommunications shift.\n\nRather than digging down to build a network of physical telephone and broadband cables, countries across the continent have gone straight to mobile phones and wireless connectivity.\n\nThis has created a huge demand for antennae over the past two decades, and Poynting has raced to meet this. The company has also developed some to work deep underground for mining companies.\n\n\"Africa is little invisible laboratory - we had all sorts of unique telecoms problems so we started making things that no one else in the world was making,\" says Mr Fourie who had first studied antennae while at the University of the Witwatersrand in Johannesburg.\n\n\"We then realized that there was a demand elsewhere in the world. More than 16 years ago we were making outdoor antennas for farmers.\n\n\"Nowadays we sell thousands of units all over Europe and elsewhere, because [the world] is moving to... wireless [internet] access.\"\n\n![_99205202_andre111.jpg](https://steemitimages.com/DQmXtTbmGdmAxmEHMpYvjsGU1mohcxhStYkRgCHVxJA6qcA/_99205202_andre111.jpg)\n\nMr Fourie adds that when it comes to designing them the magic lies in the precise shape of the bends in the metal needed to pick up and broadcast a specific frequency.\n\nThe design is so intricate that Poynting has written a specialist computer programme in order to optimize the shape and sizes of their antennas for a wide range of uses. And Mr Fourie himself owns 18 different antenna patents.\n\nTo continue the company's global expansion, Poynting opened a European office in Germany earlier this year, and launched a second manufacturing facility in China to keep up with demand. The Chinese plant now produces half the firm's output.\n\nMichael Howard, Poynting's chief executive, says that the company's growth has been in annual double digits growth for most of its existence, \"limited only by our own resources\".\n\n\"We've gone from manufacturing a few hundred units in our first year to now producing tens of thousands of units every single year.\"\n\nThe firm's turnover is now more than $8m (£6m) a year, with the main markets being Europe and Australia, while exports are growing in Asia.\n\nMr Howard says that Poynting has also worked hard to make sure it offers good customer care as a way to stand out.\n\n![_99205210_gettyimages-866642718.jpg](https://steemitimages.com/DQmVrMdK1dS33g8E46hYW8TtmoGFLWxNrqFE6ZiUe2KNM1K/_99205210_gettyimages-866642718.jpg)\n\n\"Over the years we've built a good rapport with our customers, which differentiates us from products coming from elsewhere.\"\n\nWhile most of Poynting's sales come through its established distribution networks, director Corinna Howard says that maintaining a good website is \"vital for any business if it wishes to have a footprint in other countries\".\n\n\"It allows potential clients an insight into the business and its product portfolio. It also immediate contact with an consultant that can be of assistance with queries,\" she says.\n\n\"No business can afford not to have a website.\"\n![_98332397_strap1.jpg](https://steemitimages.com/DQmeA9RJ1ah2QJLA1Jap186QhV4EuynxpLxCtoowdQy5g4k/_98332397_strap1.jpg)\nThis is the 10th story in a series called Connected Commerce, which every week highlights companies around the world that are successfully exporting, and trading beyond their home market.\nClick here for more Connected Commerce features\nPresentational grey line\nDr Enrico Calandro, from the Cape-Town based technology sector think tank Research ICT Africa, says that Poynting has been a \"pioneer\" in its sector.\n\nHe says that it and other African tech firms can become globally competitive, and that governments should do more to support their growth.\n\n![_99205204_aerials222.jpg](https://steemitimages.com/DQmWhtC1FGJZvwnKqVdZPYjsDTv1kxMp439PB2LBaWsDyqL/_99205204_aerials222.jpg)\n\nOne of Poynting's most high profile contract wins was being selected as part of the world land speed record attempt by the UK-based Bloodhound Project.\n\nPoynting's antennae are mounted inside the tailfin of the Bloodhound car, which is powered by a jet engine. 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      "body": "![_99331799_gettyimages-516859182.jpg](https://steemitimages.com/DQmcTd4wgiaVuBKNWNAW2JUfPxSHHuUMDGSWfQb7gGrF1Uf/_99331799_gettyimages-516859182.jpg)\n**Two class action lawsuits have been launched against Apple in the US following the tech giant's admission that it slows down older models of the iPhone as they age.**\n\nApple has said that it did this to \"prolong the life\" of the devices and maximise diminishing battery power.\n\nThe lawsuits were filed in California and Chicago by groups of iPhone users representing others, who they claim have suffered \"economic damage\".\n\nApple has been contacted for comment.\n\nIn the California court papers, Stefan Boganovich and Dakota Speas, who both live in LA, cite loss of use, loss of value and the purchase of new batteries as reasons for compensation, claiming that iPhone owners never consented to the \"interference\".\n\n**Apple admits slowing down older iPhones**\nJames Vlahakis, of the Sulaiman Law Group is representing the plaintiffs in the Chicago legal action.\n\n\"Apple's failure to inform consumers these updates would wreak havoc on the phone's performance is being deemed purposeful, and if proven, constitutes the unlawful and decisive withholding of material information,\" he said in a statement.\n\nMr Vlahakis added that in his view it would be a \"direct violation\" of consumer fraud-related legislation in Illinois, Indiana and North Carolina, where the complainants are based.",
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      "body": "**Public sector borrowing fell to £8.7bn in November, down £0.2bn from year earlier, partly thanks to higher income tax receipts, official figures show.**\n![_99310776_cpdllr3t.jpg](https://steemitimages.com/DQme2fSEmPZFUt6W1vMDY6ASaNt8TcbiUYpgpq7BVcjsPVt/_99310776_cpdllr3t.jpg)\n\nThe figure leaves borrowing for the financial year to date at £48.1bn.\n\nThat is the lowest recorded at this time of the year since 2007, before the financial crisis.\n\nLast month, the government's independent budget watchdog said it expected borrowing would total £49.9bn for the financial year to March 2018.\n\nJanuary typically brings a big surplus in the public finances thanks to annual income tax payments.\n\nThe Office for National Statistics figures showed that revenues from income and capital gains tax were up 6.2% in November from a year ago, and are now 3.4% higher for the year to date. Corporation tax revenues are unchanged.\n\n**Tax and spending**\n\nOn Wednesday, the International Monetary Fund produced its latest review of the UK economy.\n\nAs well as downgrading its forecast for UK growth, from 1.7% to 1.6%, the IMF said the Chancellor, Phillip Hammond, should control public borrowing more tightly in order to have room to increase spending should the economy slow too much.\n\nIMF downgrades UK growth forecast on Brexit uncertainty\nThe IMF's managing director, Christine Lagarde, said the government had gone about as far as it could with cutting public spending and should now look at raising taxes.\n\nMr Hammond plans to have eliminated public borrowing by some time in the middle of the next decade.\n\nAn HM Treasury spokesperson said: \"This is the best year-to-date borrowing in a decade, but there is still further to go to repair the public finances.\n\n\"We continue to build an economy fit for the future by taking a balanced approach, getting debt falling while investing in our vital public services and keeping taxes low.\"\n\n![_99310780_housingassoc_getty.jpg](https://steemitimages.com/DQmbpCS5uKQ6vwHGm9a5Y6VfFEheLmk8h2ByJZbQY3Sd81f/_99310780_housingassoc_getty.jpg)\n\nJohn Hawksworth, chief economist at PwC, suggested the chancellor should ease back on the goal of cutting debt: \"The deficit is no longer at the dangerous levels reached immediately after the financial crisis, so the chancellor can afford to take his time in making further progress towards his long-term objective of budget balance.\n\n\"For the moment, the greater priority is to provide short-term support to the economy during the Brexit process and to fund much needed investment in housing, transport infrastructure and the NHS.\"\n\nSamuel Tombs, chief UK economist at Pantheon Macroeconomics, said: \"The chancellor can go on his Christmas vacation content that the public finances have weathered the economy's slowdown well this year.\n\n\"But, with slow growth likely to persist next year and little margin for error now left to meet fiscal rules, it's unlikely that the chancellor will be able to soften his fiscal plans materially further again.\"\n\nThe ONS said total public sector net debt, excluding public sector banks, stood at £1.73 trillion at the end of November, equivalent to 84.6% of gross domestic product (GDP).\n\nThe figure was down by £65.5bn from the previous month as a result of a change in the way Housing Associations are categorised. Their debt is no longer viewed as belonging to the public sector.\n\nThe total debt figure is skewed by the Bank of England and its quantitative easing programme. This has involved massive purchases of government bonds which have been taken on to the government books and now count as part of the overall debt figure.\n\nIf these are taken out of the calculations, then net debt stands at £1.57tn, equivalent to 76.7% of GDP",
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      "parent_permlink": "bitcoin",
      "author": "orkunaziz",
      "permlink": "tech-tent-what-a-year-for-bitcoin",
      "title": "Tech Tent: What a year for Bitcoin",
      "body": "![_99310543_baloonwires.jpg](https://steemitimages.com/DQmV2UdAVwtbY55U3tQRsy3Cam5fiCYRtzGUSwdCrCQsQFn/_99310543_baloonwires.jpg)\n\n**Rejoice everyone, it is that time of the year again. This week's edition of Tech Tent is our annual festive quiz - and although I am writing this before taking part on one of the teams, I suspect that Bitcoin will feature among the questions.**\n\nWhat a year it has been for the crypto-currency, which started 2017 worth less than $1,000 and by last weekend had climbed to within a few dollars of the $20,000 mark. For all of that period, sceptics have been predicting that the bubble would burst and in the past 24 hours it has seemed at times that this was happening.\n\nThe price, which has been sinking all week, fell more than 10% in a matter of hours, dipping towards $13,000 before staging a partial recovery. Though as someone commented, it is moving so fast, any Bitcoin article is out of date five minutes after it is written.\n\n![_92125148_0da328a2-63fe-420e-89dd-4f0f956f5dde.jpg](https://steemitimages.com/DQmNvYsxGFhX5pykTN62qDUcB2641vyNTjyqzM3msBsx5u9/_92125148_0da328a2-63fe-420e-89dd-4f0f956f5dde.jpg)\n\n- **Stream** the latest Tech Tent episode on the BBC website\n- **Download** the latest episode as a podcast\n- Listen to **previous episodes** on the BBC website\n- Listen live every Friday at 14.00 GMT on the BBC World Service\n\nWhat is worrying is that we are at the stage in a bubble where people have been rushing in without much thought and with little understanding either of how Bitcoin works or the risks involved.\n\nEarlier this week while filming a report for the BBC News at Ten, we visited a Bitcoin cash machine in a cafe at a London Tube station. I'd been here before when it appeared to be scarcely used but this time a steady stream of people - mostly young men - arrived to stick £20 notes in the machine and get a tiny fraction of a Bitcoin in exchange.\n\nMost did not want to speak but one told me he had got about £10,000 invested in various crypto-currencies. When I asked what he would do if the bubble did burst, he insisted: \"I'll hold it. I have faith that it will go back up. Even if it collapses, I'm going to hold it.\"\n\nOver on Reddit on Friday, there was a sudden dawning of awareness that markets can go down as well as up: \"Argued with my wife for months to buy,\" wrote one man. \"Finally get approval to buy $1,000 at $19,400.\" This was followed by an expletive.\n\nThese wild swings in Bitcoin's value are making it ever more evident that it is not really a currency - there are very few places that accept it and why would you spend it if you thought it would be worth more tomorrow? At our BBC editorial meeting, there was a discussion about whether we should continue to use the term \"crypto-currency\" when Bitcoin so clearly does not operate as a means of exchange - though we decided commodity or speculative asset did not quite do the job.\n\nIt does now feel that something has got to give as the frenzy spreads from Bitcoin to other \"currencies\" and to the blockchain technology that underpins them. This week the drinks company Long Island Iced Tea saw its shares soar by more than 400% after it changed its name to Long Island Blockchain - proof, surely, that the crypto-craziness is now reaching terminal velocity.\n\n- **Bitcoin breaks through the $16,000 mark**\n- **What is Bitcoin**?\n- **Bitcoin Cash frozen as insider trading probed**\n\nThat is certainly the view of David Gerard, whose book Attack of the 50 Foot Blockchain is a very convincing takedown of the whole phenomenon. He is worried about the people who have got caught up late in the day: \"This is how economic bubbles work - people buy because other people are buying and they assume they can sell and get rich. When the bubble pops - and it's when not if - it's going to be a disaster for a lot of people.\"\n\nOne worry is that when people do try to rush for the exit they find it blocked. I have been selling some of the Bitcoin I bought 18 months ago, paying about £60.\n\nIn theory that is simple enough and indeed I have sold £500 worth for a small fee. But actually getting that cash into my sterling bank account is far from seamless - so far I am a week in to what promises to be a two-week process.\n\nHardly the frictionless finance that was promised by Bitcoin's advocates and if the rush to sell gathers pace there is a good chance that the system seizes up completely.\n\nLet me end by wishing all Tech Tent listeners a Merry Christmas and a Happy New Year. I expect the crypto-craze and the blockchain bubble will continue to provide us with stories throughout 2018.",
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      "author": "orkunaziz",
      "permlink": "bitcoin-slump-sees-trades-suspended-on-certain-exchanges",
      "title": "Bitcoin slump sees trades suspended on certain exchanges",
      "body": "(https://steemitimages.com/DQmadtKqTdFh7MKRw6XoRaqvsm1S1xzjBskKwUp5dnsbETr/_99310613_bitcoinheads.jpg)\n\nBitcoin plunged on Friday, extending a fall that saw the crypto-currency lose almost a third of its value from a record of nearly $20,000 (£15,000).\n\nThe crypto-currency's price dipped below $11,000 on Friday, according to the Coindesk exchange website, before recovering to above $13,000.\n\nAmid the swings, three Bitcoin-related exchanges suspended certain trades.\n\nBitcoin has had a blistering trip over the past 12 months. Its price at the start of the year was about $1,000.\n\nIt has skyrocketed since - more than doubling in value since November - drawing interest from major firms as well as private investors.\n\nBut since Sunday Bitcoin has been on a losing streak, falling back to where it was at the start of December.\n\nAnalysts said investors should be prepared for such rapid changes, which have characterised the asset from its start.\n\n\"This is exactly how this asset trades and has done since the beginning,\" said Nick Colas, co-founder of New York-based DataTrek Research. \"It has a lot of volatility and it will for the foreseeable future.\"\n\nWhat happened on Friday?\nThis week's plunge led to a flood of trades that swamped one of Bitcoin's major exchanges, Coinbase, on Friday. A technical slowdown prompted the firm to halt buying and selling twice.\n\nIs Asia driving the Bitcoin craze?\nWhat is Bitcoin?\n'Be ready to lose your money'\nThe CME and CBOE exchanges in the US also temporarily suspended trading of certain Bitcoin futures contracts, which allow investors to bet on where they expect the price of Bitcoin to be at certain points in the future.\n\nThe exchanges have automatic brakes that apply once a commodity or asset has moved by a certain amount - as happened in this case.\n\nWhat sparked the slump?\nThe market remains driven by sentiment, according to Charles Hayter, founder and chief executive of industry website Cryptocompare.\n\n\"A manic upward swing led by the herd will be followed by a downturn as the emotional sentiment changes,\" he said.\n\nSome traders would have been cashing in on the spectacular gains made over the year, he added.\n\n![_99310547_bitcoinbaloon.jpg](https://steemitimages.com/DQmWfeCDdh4ThG19Jr2D174pt8JugBgg1mEc9Etkyma2U2x/_99310547_bitcoinbaloon.jpg)\n\nConcerns about the infrastructure behind crypto-assets may also be spooking investors, said Nick Colas, himself a Bitcoin trader.\n\nIn recent weeks, markets have been rattled by hacks and allegations of insider trading.\n\nHe attributes some of this week's slump to the launch of a new crypto-asset that came earlier than planned. The surprise temporary shutdown of Coinbase on Friday was the kind of thing that could erode investor confidence, he argued.\n\n\"It is not OK to just take trading offline randomly through the day,\" he said. \"The robustness of that system is just as important to their confidence... as the price of crypto-currencies themselves.\"\n\nA spokesman for Coinbase said the firm was working around the clock to ensure smooth trading. Friday's suspensions lasted for about two hours in total.\n\n\"We're doing everything within our power,\" the spokesman said.\n\nWhat exactly is Bitcoin?\nA digital asset, Bitcoin is not backed by any governments. It is created through a complex process known as \"mining\", and then monitored by a network of computers across the world.\n\nThere is a steady stream of about 3,600 new Bitcoins a day, with more than 16.5 million now in circulation. Supply is expected to peak at about 21 million.\n\nEvery single transaction is recorded in a public list called the blockchain.\n\nThis makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undoing transactions.\n\nWhat are authorities saying about Bitcoin?\nRegulators around the world have stepped up their warnings about its provenance as an investment.\n\nOne of this week's most striking comments came from Denmark's central bank governor, who called it a \"deadly\" gamble.\n\nEarlier this month, the head of one of the UK's leading financial regulators warned people to be ready to \"lose all their money\" if they invested in Bitcoin.\n\nAndrew Bailey, head of the Financial Conduct Authority, told the BBC that neither central banks nor the government stood behind the \"currency\" and therefore it was not a secure investment.\n\nDespite the risk to individuals, US authorities have said they do not think it is a big enough part of financial markets to be a threat to broader economic stability.",
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