Lifeboat Foundation

Most of us know helium as that cheap inert lighter-than-air gas we use to fill party balloons and inhale to increase voice-pitch as a party trick for kids. However, helium has much more important uses to humanity — from medical (e.g. MRIs), military and defense (submarine detectors use liquid helium to clean up noisy signals), next-generation nuclear reactors, space shuttles, solar telescopes, infra-red equipment, diving, arc welding, particle physics research (the super-magnets in particle colliders rely on liquid helium), the manufacture of many digital devices, growing silicon crystals, the production of LCDs and optical fibers [1].

The principal reason helium is so important is due to its ultra-low boiling-point and inert nature making it the ultimate coolant of the human race. As the isotope helium-3, helium is also used in nuclear fusion research [2]. However, our Earth supplies of helium are being used at an unprecedented rate and could be depleted within a generation [4] and at the current rate of consumption we will run out within 25 to 30 years. As the gas is often thought of as a cheap gas it is often wasted. However, those who understand the situation, such as Prof Richardson, co-chair of a recent US National Research Council inquiry into the coming helium shortage, warn that the gas is not cheap due to the supply being inexhaustible, but because of the Helium Privatisation Act passed in 1996 by the US Congress.

Helium only accounts for 0.00052% of the Earth’s atmosphere and the majority of the helium harvested comes from beneath the ground being extracted from minerals or tapped gas deposits. This makes it one of the rarest elements of any form on the planet. However, the Act required the helium stores [4] held underground near Amarillo in Texas to be sold off at a fixed rate by 2015 regardless of the market value, to pay off the original cost of the reserve. The Amarillo storage facility holds around half the Earth’s stocks of helium: around a billion cubic meters of the gas. The US currently supplies around 80 percent of the world’s helium supplies, and once this supply is exhausted one can expect the cost of the remaining helium on Earth to increase rapidly — as this is in all practicality quite a non-renewable resource.

There is no chemical way of manufacturing helium, and the supplies we have originated in the very slow radioactive alpha decay that occurs in rocks. It has taken 4.7 billion years for the Earth to accumulate our helium reserves, which we will have exhausted within about a hundred years of the US’s National Helium Reserve having been established in 1925. When this helium is released to the atmosphere, in helium balloons for example, it is lost forever — eventually escaping into space [5][6]. So what shall we do when this crucial resource runs out? Well, in some cases liquid nitrogen (−195°C) may be adopted as a replacement — but in many cases liquid nitrogen cannot be used as a stand alone coolant as tends to be trickier to work with (triple point and melting point at around −210°C) — so the liquid helium is used because it is capable of staying liquid at the extreme cool temperatures required. No more helium means no more helium liquid (−269°C) that is used to cool the NMR (nuclear magnetic resonance apparels), and in other machines such as MRI scanners. One wonders therefore must we look towards space exploration to replenish our most rare of resources on Earth?

Continue reading “Space-Mining For Our Fastest Depleting Resource: Helium” »

National currencies

Continue reading “The Unconventional Way Bitcoin Can Make You Wealthy” »

Can ‘hoarding’ be defined?

Robert LeFevre once joked that while he was courting his soon-to-be-wife, he was impressed when she told him how much she loved money. Yet after they were married, it turned out that she really didn’t love money. In fact, she would try to find any excuse to get rid of it… in her shopping sprees, of course! Apparently money is no different than other goods and services; you trade one for the other. You trade the lesser valued good for the more valued good. When you make a purchase, you make a choice. You value your money less than the good you are buying. Similarly, when you refrain from purchasing an item, the indication is that your money is of more value than the foregone good. This is the basic premise in anticipation of a transaction, that both sides benefit – otherwise the transaction would not take place.

Continue reading “On the ‘Evil’ of Hoarding” »

Money’s characteristics

Money enabled people in early stages of civilization to go from direct exchange, with difficulties such as the double-coincidence of wants, to indirect exchange. This improved mechanism paved the way for facilitating man’s specialization in his tasks, thereby enabling division of labor within society since each specialized laborer was able to trade his goods for others indirectly with the use of a medium of exchange. Money has taken many forms but there are certain characteristics all forms should have. Aristotle, for instance provided the following four:

Continue reading “The Benefit of Specialization – Bitcoin as an Invented Currency” »

So what is Bitcoin, anyway?

Bitcoin is a virtual currency. It is a string of 1s and 0s, much like a lot of what we interact with in this day and age. It’s something new. It’s unique. It’s controversial. The detractors say it’s only useful for terrorists or drug lords who want to move money around undetected, which no doubt they do. But much like the Internet is so much more than pornography, so is Bitcoin so much more than drug money. E-mail liberated the letter from the postage stamp, Skype liberated telephone calls from crippling AT&T long-distance rates, Facebook liberated photos from the dusty photo album sitting on your shelf unopened. You can think of Bitcoin as what will liberate financial transactions from the grip of the financial institutions and the state.

Continue reading “Bitcoin and its Value” »

Just five years ago, anybody who spoke of technological unemployment was labeled a luddite, a techno-utopian, or just simply someone who doesn’t understand economics. Today things are very different – anybody from New York Times columnist Tom Friedman to CBS are jumping on the bandwagon.

We have come to believe that we are dependent on governments and corporations for everything, and now that technology is ever more pervasive, our dependence on them is even stronger. And of course we don’t question the cycle of labor-for-income, income-for-survival and the conspicuous consumption model that has become dominant in virtually every country – and that not only is ecologically unsustainable, but it also generates immense income inequality.

Well, I do. I challenge the assumption that we should live to work, and even that we should work to live, for that matter. In an age where we already produce more than enough food, energy, and drinkable water for 7 billion people with little to no human labour, while 780 million lack access to clean water and 860 million are suffering from chronic hunger, it follows that the system we have in place isn’t allocating resources efficiently. And rather than going back to outdated ideologies (i.e. socialism), we can try new forms of societal structure; starting with open source philosophy, shared knowledge, self-reliance, and sustainable communities.

There are many transitional steps that we can take – reduced workweek, reform patent and copyright laws, switch to distributed and renewable energies – and there will be bumps along the road, no doubt. But if we move in the right direction, if we are ready to abandon ideologies and stick to whatever works best, I think we will prevail – simply because we will realise that there is no war other than the one we are fighting with ourselves.

I have seen the future of Bitcoin, and it is bleak.

The Promise of Bitcoin

If you were to peek into my bedroom at night (please don’t), there’s a good chance you would see my wife sleeping soundly while I stare at the ceiling, running thought experiments about where Bitcoin is going. Like many other people, I have come to the conclusion that distributed currencies like Bitcoin are going to eventually be recognized as the most important technological innovation of the decade, if not the century. It seems clear to me that the rise of distributed currencies presents the biggest (and riskiest) investment opportunity I am likely to see in my lifetime; perhaps in a thousand lifetimes. It is critically important to understand where Bitcoin is going, and I am determined to do so.

(more…)

I continue to survey the available technology applicable to spaceflight and there is little change.

The remarkable near impact and NEO on the same day seems to fly in the face of the experts quoting a probability of such coincidence being low on the scale of millenium. A recent exchange on a blog has given me the idea that perhaps crude is better. A much faster approach to a nuclear propelled spaceship might be more appropriate.

Unknown to the public there is such a thing as unobtanium. It carries the country name of my birth; Americium.

A certain form of Americium is ideal for a type of nuclear solid fuel rocket. Called a Fission Fragment Rocket, it is straight out of a 1950’s movie with massive thrust at the limit of human G-tolerance. Such a rocket produces large amounts of irradiated material and cannot be fired inside, near, or at the Earth’s magnetic field. The Moon is the place to assemble, test, and launch any nuclear mission.

Continue reading “Petition for Americium Emergency Stockpile” »

I was recently accused on another blog of repeating a defeatist mantra.

My “mantra” has always been WE CAN GO NOW. The solutions are crystal clear to anyone who takes a survey of the available technology. What blinds people is their unwillingness to accept the cost of making it happen.
There is no cheap.

Paul Gilster comments on his blog Centauri Dreams, concerning Radiation, Alzheimer’s Disease and Fermi;

“Neurological damage from human missions to deep space — and the study goes no further than the relatively close Mars — would obviously affect our planning and create serious payload constraints given the need for what might have to be massive shielding.”

Continue reading “Water, Bombs, WE CAN GO NOW” »