View Here - Cranbrook School

More documents

Recommendations

Info

What’s on at Cranbrook June 2013 Monday Tuesday Wednesday Thursday Friday Saturday Sunday 10 Queen’s Birthday, public holiday 11 Photographs: Whole School, Hordern Oval Heads of Department meeting, Mackay Room – 12.40pm SRC, Room 1.2 – 12.40pm 12 Whole school photograph backup day IPSHA Music Teachers meeting Founders’ Day Assembly 13 Yr 12 Chemistry excursion CIS Cross Country Championships, Eastern Creek – 9.00am IPSHA Curriculum Coordinators meeting 14 Yr 8 Languages Day Boarding Schools Expo, Griffith ISDA debating, grand final JS IPSHA debating, Rd 3 15 Boarding Schools Expo, Griffith Winter sport Rd 6 v Barker (home) GPS/CAS Cross Country Invitational, Ewen Park – 9.00am 16 Music showcase set up, Carter Hall Yrs 11 & 12 Drama excursion, Belvoir Theatre – 12.45pm CAS Rugby camp 17 Yrs 7 & 9 Immunisations, dose 2, Carter Hall ICAS Writing Competition NSW All Schools Football Championships Music Showcase rehearsals, Carter Hall – all day Yrs 7 to 12 Music Showcase evening, Carter Hall – 6.30pm 18 ICAS Spelling Competition NSW All Schools Football Championships CAS v GPS Rugby CAS v GPS Football Heads of Department meeting, Mackay Room – 12.40pm SRC, Room 1.2 – 12.40pm Yrs 11 & 12 Music, Sydney Symphony Sinfonia, City Recital Hall 19 PCP – 10.00am to 10.45am Boarders’ Chapel Service – 6.30pm 20 Housemasters’ meeting, Mackay Room – 12.40pm PYP Facilitators and Committee meeting – 3.30pm 21 Last day Term 2 House Football, Dangar – 8.30am to 3.15pm CAS v ISA Football 22 Holidays Wallacea Science expedition, Indonesia 23 Holidays Wallacea Science expedition, Indonesia 24 Wallacea Science expedition, Indonesia 25 Wallacea Science expedition, Indonesia 26 Wallacea Science expedition, Indonesia 27 Wallacea Science expedition, Indonesia 28 Wallacea Science expedition, Indonesia 29 Wallacea Science expedition, Indonesia 30 Wallacea Science expedition, Indonesia Basketball camp, Junior – 12.30pm to 2.30pm, Basketball camp, Junior – 12.30pm to 2.30pm, Basketball camp, Junior – 12.30pm to 2.30pm, Basketball camp, Junior – 12.30pm to 2.30pm, Red Nose Day Senior – 3.00pm to 5.00pm Senior – 3.00pm to 5.00pm Senior – 3.00pm to 5.00pm Senior – 3.00pm to 5.00pm For a more comprehensive list of events, see the Calendar of Events.
Thursday, 13 June 2013 | Term 2, Week 7 FEATURE The fine print by Tom Gibson and Matthew Theophile Are Bitcoins the currency of the future Bitcoin and other such crypto-currencies are certainly on track to becoming one of the currencies of the future. Since Bitcoin’s humble beginnings in 2009, the currency has recently hit the one billion dollar market capitalisation mark. Bitcoin acts as a currency that has no government affiliations, meaning that money and trading can be done worldwide without any sort of government interference. The Bitcoins themselves can be traded all around the world for goods and services, as well as for other more traditional currencies. Although the worth of a Bitcoin is constantly fluctuating as more and more people become interested in the new phenomenon, the worth of one Bitcoin has recently reached the equivalent of nearly two hundred US dollars. Bitcoin, along with many of the other crypto-currencies, also provide an anonymous way to buy and sell items, which has led many to consider the illicit results of such a currency. Unlike bank transactions, Bitcoin transactions are on public record. However, these public records only show the transactions between two accounts or ‘wallets’. There is no limit to the number of Bitcoin wallets that any one person can have, and since it is very difficult to determine an actual identity from a Bitcoin wallet, criminals have found the service extremely useful. Over the last few months, some Australians have been arrested for the importation of illegal drugs, all of which were organised online through sites that dealt only in Bitcoins. Federal services have no idea of the extent to which criminal organisations have been dealing in Bitcoins, but they fear that with the various illicit services that can be found on the internet it is only a matter of time before the crypto-currency becomes even more widespread. To put things in perspective, though, the transactions being completed using Bitcoins (especially in illegal dealing) are not huge. The first Australian to be charged for importing drugs through the use of the internet and Bitcoins was sentenced to the relatively minor sentence of three years and six months in jail for the possession of 32 weapons, as well as the importation of 60 grams of cocaine and MDMA. Whilst the zero transaction fees and relative privacy of Bitcoin transactions are hugely enticing for many criminal organisations, large payments are not necessarily the best option. Because of the nature of Bitcoin transactions detailed above, Bitcoin has recently reached the equivalent of nearly two hundred US dollars. once government agencies find one criminal’s wallet account, it is relatively easy to find the rest of the transactions between it and the various other ‘wallets’. When this is combined with the relatively risky and fluctuating nature of the worth of Bitcoins, it essentially means that huge criminal transactions or moneylaundering using Bitcoins would be in the words of one of its developers ‘pretty dumb.’ Although there has been a lot of hype in the media lately in relation to the criminal possibilities of the Bitcoin, the reality is that the majority of its business is conducted by everyday people around the world. However, it is unlikely that it will become the currency of the future as some people are suggesting, simply because it’s worth is so reliant on its popularity, as opposed to a country’s economy. Despite this, it represents the technological advances that are occurring every day to overcome many of the problems that society faces. Whilst it may never become an actual currency, the Bitcoin has certainly shown its worth in online trading, and the zero transaction fees that go with this free technology makes Bitcoins and other cryptocurrencies very useful to us all. 3
Page 1: Volume XXXVI, Issue 14 | Term 2, We
Page 5 and 6: Thursday, 13 June 2013 | Term 2, We

View Here - Cranbrook School

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?