Electricity

Electricity is the set of physical phenomena associated with the presence and flow of electric charge. Electricity gives a wide variety of well-known effects, such as lightning, static electricity, electromagnetic induction and electrical current. In addition, electricity permits the creation and reception of electromagnetic radiation such as radio waves. In electricity, charges produce electromagnetic fields which act on other charges. Electricity occurs due to several types of physics: electric charge: a property of some subatomic particles, which determines their electromagnetic interactions. Electrically charged matter is influenced by, and produces, electromagnetic fields. electric field (see electrostatics): an especially simple type of electromagnetic field produced by an electric charge even when it is not moving (i.e., there is no electric current). The electric field produces a force on other charges in its vicinity. electric potential: the capacity of an electric field to do work on an electric charge, typically measured in volts. electric current: a movement or flow of electrically charged particles, typically measured in amperes. electromagnets: Moving charges produce a magnetic field. Electrical currents generate magnetic fields, and changing magnetic fields generate electrical currents.

Insurance

Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. According to study texts of The Chartered Insurance Institute, there are the following categories of risk:[1] 1. Financial risks which means that the risk must have financial measurement. 2. Pure risks which means that the risk must be real and not related to gambling 3. Particular risks which means that these risks are not widespread in their effect, for example such as earthquake risk for the region prone to it. It is commonly accepted that only financial, pure and particular risks are insurable. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

Ex-Bitcoin Foundation’s Shrem Indicted After Plea Talks

Charlie Shrem, a prominent Bitcoin evangelist, was indicted for allegedly trying to launder more than $1 million in the virtual currency in a case tied to the illicit online bazaar Silk Road. The indictment came after plea bargaining talks with federal prosecutors in Manhattan ended. Shrem, the former vice chairman of the Bitcoin Foundation, and Robert Faiella, who the U.S. said operated an underground Bitcoin exchange called “BTCKing,” are accused of engaging in a scheme to sell Bitcoins to users of Silk Road for illegal purchases. Shrem, who was also the chief executive officer of a Bitcoin exchange company called BitInstant, and Faiella were first arrested in January and have been free on bond.