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Category: economics – Page 269

Bitcoin and its Value

Originally posted as Part I of a four-part introductory series on Bitcoin on May 1, 2013 in the American Daily Herald. See the Bitcoin blog for all four articles.

The last couple of months proved a very exciting time for Bitcoin and its new owners, with values increasing from $30 to $260 within a month only to come crashing down in days. It went from virtual anonymity to virtual ubiquity and back again — the only constant being that it’s virtual. The dust has now settled and the talking heads have changed topic, and Bitcoin is slowly regaining strength. But does this mean we can finally, in a quiet and rational way, contemplate what this Bitcoin really is and where it has room to fit into our lives? The answer to that is no, because the concept of Bitcoin is so strange, unintuitive and foreign, no matter when you discuss it and with whom, it will lead to very divisive arguments. So I say now is as good a time as any to dive in and discuss it.

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.

Technical/dictionary definitions can be found in many places. This short article cannot give a full account. But it will present analogies to make the concept of Bitcoin easier to grasp. Given that Bitcoin is virtual, the analogies can only go so far, but the first step is to think about bitcoins as though they were actual coins forged out of the shiniest and prettiest gold. This is the cornerstone to understanding that bitcoins are in fact a commodity, like a gold nugget turned into a coin and made to become money. The analogy is that the element from which the gold coin is forged requires to be mined. Sure enough, it exists in nature, but it is hidden from plain view. It has to be explored to be brought into useful existence, and this gets exceedingly hard as time goes by and as the easy pickings have all been found. Much the same is with Bitcoin. It is decisively unlike any other piece of software or any other electronic file to which we are accustomed. You cannot just copy and paste it and you cannot just reinstall it ad infinitum. The sense we should be getting is that Bitcoin is a scarce good.

Don’t let go of that mental image as I endeavor to explain a bit about the technical aspect. Bitcoin belongs to a new kind of asset class, one that is called a crypto-currency. Its very existence is predicated upon a network of computers that resides within the internet. This Bitcoin network consists of thousands of individuals who are online and connected to one another at every given second of the day, constantly communicating with one another through pieces of software designed with this one networking purpose in mind. Through complex cryptographic means, each coin and all of its transaction history is known to the network while keeping the identity of the owner of this coin completely private. Due to the fact that transmission from one owner to another (the financial transaction) is broadcast to the entire network, it is made virtually impossible to then use the coin again since everyone knows you’ve already given it away – thus it overcomes the problem of double-spending (think “copy & paste”) the same coin. The analogy to a gold coin (or any physical good) is that only one person can ever hold and own the coin, thus it is scarce (in the economic sense) and one person owning the coin prevents another person from owning it.

As to the technical aspect of ‘mining’ bitcoins, these again are computers running specialized software on this network. Miners solve complex algorithms to discover which string of characters would be the next Bitcoin to be produced. The computations are so complex, and increasingly so, that the computers required are expensive, state of the art computers using up time, space and energy. Inherent in the Bitcoin network design, there is a capacity to the network (21 million bitcoins) and inherent to the mining process, it becomes exponentially more difficult to solve these algorithms. Therefore, by nature, the rate of creation of new coins is decreasing and an upper limit is in place. Today over half are in existence, within 25 years over 99 percent will have been mined and by the year 2140 no more coins will be added to the supply. The analogy to gold mining is that gold is finite and it takes effort to discover it; ‘real world’ resources, time and money, are expended in the process. While, of itself, this doesn’t give Bitcoins their value, it does make it either profitable or not and it incentivizes entrepreneurs where the profit exists. Bitcoins cannot be created out of thin air by a Federal Reserve-like entity. It is a commodity that will attract miners should it be profitable, and likewise detract miners when loss-making conditions arise. It is a product of the free-market.

The value of money and Bitcoin

A brief mention was made that this is a new type of asset class. Also mentioned repeatedly is that this is a commodity. These definitions cause great discomfort to many who view assets and commodities as necessarily objects in the physical realm. Accountants have long held the view that a balance sheet can also be comprised of intangible assets. Value, it was argued, does not come from an object’s tangibility, but rather from its subjective utility by its owner and from its scarcity. Businesses, after all, pay great premiums to acquire others’ brands or to employ people for their talents or ideas. To be sure, a Bitcoin is a string of 1s and 0s and interacts only with software, but when this string of 1s and 0s is useful and its ownership boundaries are clearly delineated (meaning what I own, you cannot own at the same time), then it can be thought of as an asset and it can acquire value based on the subjective view of market participants.

Most discussions on forms of money invariably include references to ‘stores of value’ and to the money commodity as having ‘intrinsic value’. It is important to realize that any good arising from the free market will appreciate in value as more people want it and will act as a store of value as long as its popularity remains so. But with popularity dwindling or with marginal utility dropping any good is subject to its store of value diminishing, gold notwithstanding. Intrinsic value is itself a misnomer. Goods do not have intrinsic value. Goods may have intrinsic properties or characteristics that are valued by society or enable them to be well utilized for a specific purpose. Money’s properties, for instance, would include being fungible, divisible, recognizable, durable, portable, rare/scarce, etc. If a good or a commodity intrinsically has all of these properties, then it is likely, over time, to evolve to become a medium of exchange (money). This good will then acquire value with its increased recognition as a popular and well accepted form of money. But calling this ‘intrinsic value’ is fallacious, albeit somewhat common.

Historically, precious metals, especially gold and silver, have retained their values due to their intrinsic properties mentioned above. This has given rise to people’s perception of them as being a ‘store of value’ and of having ‘intrinsic value’. Another red herring introduced to the argument is that gold has other uses, say in dentistry, aerospace, or jewelry. True enough, this would imply that should the metals lose all perception as being money (a highly unlikely scenario, but theoretically possible), then at least the owner is able to sell off their existing holdings to goldsmiths and other industry participants. The resultant oversupply relative to demand would probably mean gold owners would salvage a few percent of the value at best. Therefore, for all practical purposes, the fact that gold has value other than money (a characteristic Bitcoin doesn’t share) is of little relevance when discussing it as a medium of exchange.

With Nixon’s closure of the ‘gold window’ in 1971, gold has ceased its official role as money. However it is quite evident that as an asset class, precious metals are still highly regarded and form a part of many prudent investors’ portfolios. Payment for goods and services with a Krugerrand or a Silver Eagle would constitute ‘barter’ if one were to go by today’s strictly legal definitions of money payments. But if (or when) the US Dollar system collapses, there is no doubt to an ever increasing proportion of the population that ‘payment’ with gold and silver would arise as legitimate forms of money. The creation of bitcoins has introduced another alternative, one which would be unwise to ignore.

Bitcoin adoption and its rise in value

As long as its acceptance as money is only to a narrow audience, its value will remain low and the possibility of a price collapse is a real risk. But one shouldn’t make the error in deducing, therefore, that it cannot acquire value as people learn about it and accept it. Every commodity starts its life as having no value until someone finds a use for it and starts exchanging it with others who also see the value in its use or its properties. If a commodity acquires value as a medium of exchange through voluntary free-market interactions, and is not forced upon the populace through legal tender laws (as fiat money is), then it no longer matters that it doesn’t have other uses. It will be acquired and exchanged for the sole purpose of acquisition and exchange. In a free market, after all, if people lose confidence or interest in the product – any product (money or otherwise), its value would decrease and potentially reduce to zero.

So why has its value gone up so greatly? Is it all attributed to an irrational bubble-induced craze? Perhaps. But perhaps ever more people are starting to realize that this invention fits the bill. It is fungible, divisible, recognizable, durable, portable, rare/scarce (an in-depth look at each will have to be the topic of another article). When one considers the design of this ‘product’ in light of these attributes, one begins to realize that the properties that led gold and silver to the fore as ‘natural money’ can exist in other goods. People gawk at miraculous inventions that enable us to perform heretofore unthinkable tasks. Transacting in money is no different. Money is simply the most marketable commodity. It shouldn’t surprise us, in this day and age, that someone was able to invent an alternative form of it – and let the free market decide what is more marketable. What we have witnessed over the last few weeks are volatile price fluctuations, as people rush into this craze wanting to make a quick buck. But with more people owning bitcoins and more businesses willing to accept payment in them, Bitcoin is gaining currency. This is exactly the process that took gold from ornament to payment, only instead of taking centuries, it is happening before our very eyes. For those seeking a return to free market currencies, consider Bitcoin as a successful alternative.

There is no war other than the one we are fighting with ourselves

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.

Those of us who have been speaking about the tremendous impact of automation in the workforce know very well that this isn’t a fad about to pass, but that it’s a problem that will only exacerbate in the future. Most of us agree on what the problem is (exponential growth of high-tech replacing humans faster and faster), and we agree that education will play a crucial role (and not coincidentally I started a company – Esplori – precisely to address this problem); but very few seem to suggest that we should use this opportunity to re-think our entire economic system and what the purpose of society should be. I am convinced this is exactly what we need to do. Published in 2012, my book, Robots Will Steal Your Job, But That’s OK: How to Survive the Economic Collapse and Be Happy – which you can also read online for free — shows we might go about building a better tomorrow.

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.

Bitcoin’s Dystopian Future

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.

Continue reading “Bitcoin’s Dystopian Future” | >

Petition for Americium Emergency Stockpile

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.

Such Fission Fragment propelled spacecraft would resemble the original Tsolkovsky space train with a several hundred foot long slender skeleton mounting these one shot Americium boosters. The turn of the century deaf school master continues to predict.

Each lamp-shade-spherical thruster has a programmed design balancing the length and thrust of the burn. After being expended the boosters use a small secondary system to send them into an appropriate direction and probably equipped with small sensor packages, using the hot irradiated shell for an RTG. The Frame that served as a car of the space train transforms into a pair of satellite panels. Being more an artist than an *engineer, I find the monoplane configuration pleasing to the eye as well as being functional. These dozens and eventually thousands of dual purpose boosters would help form a space warning net.

The front of the space train is a large plastic sphere partially filled filled with water sent up from the surface of a a Robotic Lunar Polar Base. The Spaceship would split apart on a tether to generate artificial gravity with the lessening booster mass balanced by varying lengths of tether with an intermediate reactor mass.

These piloted impact threat interceptors would be manned by the United Nations Space Defense Force. All the Nuclear Powers would be represented.…..well, most of them. They would be capable of “fast missions” lasting only a month or at the most two months. They would be launched from underground silos on the Moon to deliver a nuclear weapon package towards an impact threat at the highest possible velocity and so the fastest intercept time. These ships would come back on a ballistic course with all their boosters expended to be rescued by recovery craft from the Moon upon return to the vicinity of Earth.

The key to this scenario is Americium 242. It is extremely expensive stuff. The only alternative is Nuclear Pulse Propulsion (NPP). The problem with bomb propulsion is the need to have a humungous mass for the most efficient size of bomb to react with.

The Logic Tree then splits again with two designs of bomb propelled ship; the “Orion” and the “Medusa.” The Orion is the original design using a metal plate and shock absorbing system. The Medusa is essentially a giant woven alloy parachute and tether system that replaces the plate with a much lighter “mega-sail.” In one of the few cases where compromise might bear fruit- the huge spinning ufo type disc, thousands of feet across, would serve quite well to explore, colonize, and intercept impact threats. Such a ship would require a couple decades to begin manufacture on the Moon.

Americium boosters could be built on earth and inserted into lunar orbit with Human Rated Heavy Lift Vehicles (SLS) and a mission launched well within a ten-year apollo type plan. But the Americium Infrastructure has to be available as a first step.

Would any of my hundreds of faithful followers be willing to assist me in circulating a petition?

*Actually I am neither an artist or an engineer- just a wannabe pulp writer in the mold of Edgar Rice Burroughs.

Water, Bombs, WE CAN GO NOW

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.”

Massive shielding.
This is the game changer. The showstopper. The sea change. The paradigm shift.
The cosmic ray gorilla. Whatever you want to call it, it is the reality that most of what we are familiar with concerning human space flight is not going to work in deep space.
Massive Shielding=Nuclear Propulsion=Bombs
M=N=B
We have to transport nuclear materials to the Moon where we can light off a nuclear propulsion system. The Moon is where the ice-derived Water to fill up a Massive radiation shield is to be found.
Massive Shield=Water=Lunar Base
M=W=L
Sequentially: L=W=M=N=B
So, first and last, we need an HLV to get to this Lunar Base (where the Water for the shield is) and we need to safely transport Nuclear material there (and safely assemble and light off the Bombs to push the shield around).

Radiation shielding is the first determining factor in spaceship design and this largely determines the entire development of space travel.

http://voices.yahoo.com/water-bombs-8121778.html?cat=15

Gravity Modification – What Is The Record?

If, we as a community, are intending to accelerate the development of interstellar travel we have to glower at the record and ask ourselves some tough questions. First, what is the current record of the primary players? Second, why is everyone afraid to try something outside the status quo theories?

At the present time the primary players are associated with the DARPA funded 100-Year Starship Study, as Icarus Interstellar who is cross linked with The Tau Zero Foundation and Centauri Dreams is a team member of the 100YSS. I was surprised to find Jean-Luc Cambier on Tau Zero.

Gary Church recently put the final nail in the Icarus Interstellar‘s dreams to build a rocket ship for interstellar travel. In his post on Lifeboat, Cosmic Ray Gorilla Gary Church says “it is likely such a shield will massive over a thousand tons”. Was he suggesting that the new cost of an interstellar rocket ship is not 3.4x World GDP but 34x or 340x World GDP? Oops!

Let us look at the record. Richard Obousy of Icarus Interstellar and Eric Davis of Institute for Advanced Studies claimed that it was possible, using string theories to travel at not just c, the velocity of light but at 1E32c, or c multiplied by a 1 followed by 32 zeros. However, Lorentz-FitzGerald transformations show that anything with mass cannot travel faster than the velocity of light. Note that Lorentz-FitzGerald is an empirical observation which was incorporated into Einstein’s Special Theory of Relativity.

It is quite clear that you can use string theories to say anything you want. I used the term ‘mathematical conjecture’.

In April 2008 the esteemed Michio Kaku said in his Space Show interview, that it would take several hundred years to do gravity modification. But Michio Kaku is a string theorist himself. And I might add down to Earth one at that, since his opinion contradicts Richard Obousy and Eric Davis.

Then there is George Hathaway also with the Tau Zero Foundation who could not reproduce Podkletnov’s experiments, even when he was in communication with Podkletnov.

And this is the one group our astronaut Mae Jemison, leader of the 100YSS effort, has teamed up with? My sincerest condolences to you Mae Jemison. Sincerest condolences.

For the answer to the second question, you have to look within yourselves.

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Benjamin T Solomon is the author & principal investigator of the 12-year study into the theoretical & technological feasibility of gravitation modification, titled An Introduction to Gravity Modification, to achieve interstellar travel in our lifetimes. For more information visit iSETI LLC, Interstellar Space Exploration Technology Initiative.

Solomon is inviting all serious participants to his LinkedIn Group Interstellar Travel & Gravity Modification.

13: The Year of The Comet

A happy new year to the human race from it’s most important member; me. Since self-worship seems to be the theme of the new American ideal I had better get right with me.

With my government going over the fiscal cliff it would appear that the damned soul of Ayn Rand is exerting demonic influence on the political system through worship of the individual. The tea party has the Republicans terrified of losing their jobs. Being just like me, those individuals consider themselves the most important person on the planet- so I cannot fault them.

As Ayn Rand believed, “I will not die, it’s the world that will end”, so who cares about the collective future of the human race? Towards the end of 2013 the heavens may remind us the universe does not really care about creatures who believe themselves all important. The choice may soon be seen clearly in the light of the comet’s tail; the glorification of the individual and the certain extinction of our race, or the acceptance of a collective goal and our continued existence.

Ayn Rand made her choice but most of us have time to choose more wisely. I pray for billions, tens and hundreds of billions of dollars- for a Moonbase.

I am not one of the Earth is overpopulated crowd. We could have a high quality of life for every man, woman and child on this planet if we did not, as a species, spend most of our resources pandering to moral weakness and cravings for profit. The myth of scarcity is a smokescreen to obscure the reality of greed and ignorance. Which is why people like Gerard K. O’Neill sought to improve the human condition with space colonies.

We need to go into space to first safeguard the Earth from impacts and the human race from extinction, and along with these missions to spread life into the universe through colonization. None of those three things has anything to do with getting filthy rich or intimidating other nations with our firepower so we can steal their resources. Which is why it has not happened.

Happy New Year with hopes for a more enlightened public.

Happy new year to my Wife, my Daughter, my Father, and to those who give a damn about next year even if they will not be there.

Gravity Modification – What is it?

OK, why do we need a different technology to achieve commercial viability (as in mass space tourism) for either interplanetary or interstellar travel?

In many of my previous posts I had shown that all the currently proposed technologies or technologies to be, are either phenomenally expensive (on the order of several multiples of World GDP), bordering on the impossible or just plain conjecture. This is very unfortunate, as I was hoping that some of the proposals would at least appear realistic, but no joy. I feel very sorry for those who are funding these projects. For a refresher I have posted an updated version of the Interstellar Challenge Matrix (ICM) here which documents 5 of the 11 inconsistencies in modern physics. I give permission to my readers to use this material for non-commercial or academic uses.

I recently completed the 12-year study into the theoretical & technological feasibility of gravity modification published under the title An Introduction to Gravity Modification, 2nd Edition. For the very first time we now have a scientific definition for gravity modification:

Gravity modification is defined as the modification of the strength and/or direction of the gravitational acceleration without the use of mass as the primary source of this modification, in local space time. It consists of field modulation and field vectoring. Field modulation is the ability to attenuate or amplify a force field. Field vectoring is the ability to change the direction of this force field.

Note that this definition specifically states “without the use of mass”, for obvious reasons – for example it does not make sense to carry around the mass of a planet to propel 7 astronauts, does it?

By this definition alone, we have eliminated all three status quo theories – general relativity, quantum gravity and string theories. Therefore, the urgent need to construct a new theory that will facilitate the development of gravity modification technologies.

And further, by this definition we know the additional requirements of such a new theory. The theory should show us, firstly, how to attenuate or amplify the gravitational field strength, and secondly, how to change the direction of this force field – all without using mass.

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Benjamin T Solomon is the author & principal investigator of the 12-year study into the theoretical & technological feasibility of gravitation modification, titled An Introduction to Gravity Modification, to achieve interstellar travel in our lifetimes. For more information visit iSETI LLC, Interstellar Space Exploration Technology Initiative.

Solomon is inviting all serious participants to his LinkedIn Group Interstellar Travel & Gravity Modification.

The Fabulous Spaceport Colorado (Part 4)

Last month a colleague of mine and I visited with Dennis Heap, Executive Director of the National Front Range Airport, at Watkins, CO, the location of the future Spaceport Colorado, and Colorado’s contribution to getting into space. Here is Part 4.

In Part 4, I dwell more into the economic concepts necessary for a spaceports’ long term success. The single most important concept one has to understand with any type of port, airport, seaport and spaceports is the concept of the hinterland economy. The hinterland economy is the surrounding local economy that the port services, either by population demographics, commercial & industrial base or transportation hub per its geographic location.

The Sweden-America model, like Westport Malaysia requires that a hinterland economy will eventually be built close to the port. Westport’s then Vice-Chairman of the Board, Gnanalingam (we called him ‘G’) whom I reported to, had the foresight, the influence and the connections within the Malaysian public sector, to encourage the infrastructure development within Pulah Indah and the neighboring locations.

The hinterland is critical to the success of the port. Therefore the key to a port’s success is the clarification of the term ‘local’ in the definition of the concept of the hinterland. When I joined Westport in 1995, a hinterland was defined as within approximately a 15 mile (24 km) radius of the port. In my opinion that was too small a segment of the economy to facilitate the success of Westport. That definition did not match up with Westport’s ambition to be a world class seaport and transshipment hub that could give PSA (Port Authority of Singapore, then largest container port in the world) a run for its money.

So I changed the definition.

I changed the definition of ‘local’ to 7-hours. Any warehouse, manufacturing site or distribution center within a 7-hour drive of Westport was now Westport’s hinterland. And because Westport was in the middle of Peninsula Malaysia, that ‘7-hours’ translated into the whole of Peninsula Malaysia, from the border with Thailand in the North to all the way down South to Singapore. This increased Westport’s hinterland from 350 sq miles (900 sq km) to 51,000 sq miles (132,000 sq km).

Of course that ‘7-hours’ would not have meant much if Malaysia had not built an interstate system of roads. That is why the public sector involvement in the economy is so vital to an economy’s success; in a manner that says, how can we give back to our tax payers?

And coming back to our original topic, that is the beauty of Spaceport Colorado. It is tucked in close to Denver International Airport (DIA) and the city of Denver. Spaceport Colorado’s hinterland is the whole of the Continental United States. First through the passenger traffic via DIA and second tapping into the high end winter tourists market at Aspen, Vail & Beaver Creek ski resorts.

Spaceport Colorado will be an immense success.

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Benjamin T Solomon is the author & principal investigator of the 12-year study into the theoretical & technological feasibility of gravitation modification, titled An Introduction to Gravity Modification, to achieve interstellar travel in our lifetimes. For more information visit iSETI LLC, Interstellar Space Exploration Technology Initiative.

Solomon is inviting all serious participants to his LinkedIn Group Interstellar Travel & Gravity Modification.

The Fabulous Spaceport Colorado (Part 3)

Last month a colleague of mine and I visited with Dennis Heap, Executive Director of the National Front Range Airport, at Watkins, CO, the location of the future Spaceport Colorado, and Colorado’s contribution to getting into space. Here is Part 3.

In my last post I had mentioned that there were 2 business models for spaceports. I’ll name the first Sweden-America model after spaceports Sweden & America. The second, I’ll name Colorado-Singapore model after (yet to be) spaceports Colorado & Singapore.

The Sweden-America model basic premise is that spaceport ought to be built in remote locations, and then a hinterland economy is eventually built around the spaceport. This approach was originally driven by safety concerns and the need for a rocket range or vacant land for launching rockets to crash back to.

The basic premise of the Colorado-Singapore model is that launch vehicles are safe and that spaceports ought to be built close to centers of commerce and intermodal transportation networks. That is, spaceports are to be built in an existing hinterland economy.

Spaceport Colorado is therefore tucked in close to Denver International Airport and the city of Denver. Spaceport Singapore is to be built within Changi Aiport (ranked #2 out of 388 airports in the world). Changi Airport is located on the Eastern end of the island of Singapore, with Malaysia to the North.

Note that in the case of Spaceport Singapore, the Singapore Strait to the South and East of Changi form a natural rocket range. While Spaceport Colorado has 3,000 acres (less 900 acres for the spaceport) of vacant land to develop additional revenue generating and revenue supporting facilities.

There has been debate about which is the better business model. Both models are correct. Having been Head of Corporate Planning in the early days at Westport, Malaysia, I can assure you that the key is to match your capex with revenue generation. Today the Goggle map of Westport, shows a well-developed island of Pulah Indah. When I worked there in 1995–96 the whole island was virgin and civil engineering firms were draining the swampland.

That is, if there is enough drive, ambition, and cooperation between the private and public sectors a whole island can be transformed from swampland to a world class shipping hub, commercial, industrial & residential zones in a decade. The same is true for spaceports, and for that matter, American cities.

The problem with Spaceport America is that the public sector is not willing to do enough to ensure its success. At least not what it took to ensure Westport’s long term success. New Mexico take a look at Westport and see what you will be missing 10 years from now.

I have to run now. More in the next post.

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Benjamin T Solomon is the author & principal investigator of the 12-year study into the theoretical & technological feasibility of gravitation modification, titled An Introduction to Gravity Modification, to achieve interstellar travel in our lifetimes. For more information visit iSETI LLC, Interstellar Space Exploration Technology Initiative.

Solomon is inviting all serious participants to his LinkedIn Group Interstellar Travel & Gravity Modification.

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