e-gold is a digital gold currency operated by Gold & Silver Reserve Inc. under e-gold Ltd., and is a system which allows the instant transfer of gold ownership between users. e-gold Ltd. is incorporated in Nevis, Lesser Antilles.

According to the company's website, as of April 2007, e-gold had 112,188 oz (3,492.0 kilograms) of gold and 138,567 oz (4,313.1 kg) of silver in storage, which is worth approximately US$86 million. ^[1] There are typically 66,000 e-gold spends each day totalling 15,000 oz (470 kg), which is about US$10.5 million. There are over three million e-gold accounts of which about one quarter are active.

e-gold was founded in 1996 by Dr. Douglas Jackson and Barry K. Downey. Transactions using e-gold have grown dramatically since 2005. The total amount of gold bars (over three tonnes) in the e-gold system is approaching the size of the national reserves of smaller countries. e-gold now generates a substantial income from spend and storage fees — there is a charge of a few cents to make each e-gold "spend" and e-gold itself now earns well over a million USD per year from fees.

The number of e-gold accounts (as claimed by e-gold) grew from 1 million in November 2003 to 3 million on 22 April 2006.

Unlike fractional-reserve banking, e-gold holds 100% of clients' funds in reserves with a store of value. Proponents of the e-gold system contend that e-gold deposits are protected against inflation, devaluation and other possible economic risks inherent in fiat currencies. These risks include the monetary policy of countries or territories, which are perceived by proponents to be harmful to the value of paper currency.

The repository of the actual bullion bars with serial numbers and other data can be seen using the live "Examiner" function on the e-gold web site. Bullion is held in allocated storage with Brink's Global Services (part of The Brink's Company), Transguard Security Services (part of The Emirates Group) or MAT Securitas Express AG (part of the VIA MAT Group). Clients hold an unallocated share of this allocated bullion.

The user may take physical delivery of the precious metal upon payment of an additional fee, and provided the user has an available balance of at least the weight of the smallest individual item displayed in the Examiner. This is currently a 32 troy ounce (996 g) gold bar, which is worth approximately $29,500. However in practice, most users permit the company to store the metal for them.

e-gold does not sell its e-metal directly to users. Instead digital currency exchangers, such as OmniPay (a sister company of e-gold), and numerous independent companies act as market makers selling e-metal in exchange for other currencies and a transaction fee. Conversely, these exchange providers will buy e-metal with other currencies, again taking a transaction fee. In this manner e-metals can be converted back and forth to a variety of national currencies. The amount of a particular currency or e-metal necessary to complete a transaction is determined by the spot price of the metal in relation to the value of the currency. e-gold is known as private currency as it is not issued by governments.

Compared to other systems like PayPal, the process of buying e-gold can be confusing to a person unfamiliar with the e-gold system. e-gold, unlike e-Bullion for instance, does not sell digital currency directly to the user. According to its website the reason e-gold does not provide an in-house exchange service is so there can be no debt or contingent liabilities associated with the business, making e-gold free of financial risk. They claim e-gold does not possess currency of any nation or even have a bank account.

e-gold charges an account fee (or "agio Fee") of 1% per annum (deducted in monthly payments) on all e-metal stored.

Spending e-gold is free, with processing fees (or "spend fees") deducted from the recipient. As of 2007 these spend fees vary on a sliding scale from about 5% for spending 0.1 grams of gold to 1% for 5 grams of gold. Over 5 grams of gold, the fee is capped at 0.05 gram of gold (about $1.48 with gold at US$922 per ounce).

e-gold spends clear instantly, in contrast to cheques or credit card transactions.^{[citation needed]} Unlike other online payment systems such as PayPal, there are no distinctions between merchant and non-merchant e-gold accounts. Anyone can instantly create a "merchant account" (there is only one type of account). All e-gold accounts carry the same fees and have the same capacity to receive and transmit e-gold account holdings.

taken from wikipedia

The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex and related markets currently is over US$ 3 trillion.

The foreign exchange market is unique because of

• its trading volumes,
• the extreme liquidity of the market,
• the large number of, and variety of, traders in the market,
• its geographical dispersion,
• its long trading hours: 24 hours a day (except on weekends),
• the variety of factors that affect exchange rates.
• the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)

As such, it has been referred to as the market closest to the ideal perfect competition, notwithstanding authorized market manipulation by central banks. According to the BIS,^[1] average daily turnover in traditional foreign exchange markets is estimated at $3.21 trillion. Daily averages in April for different years, in billions of US dollars, are presented on the chart below:

This $3.21 trillion in global foreign exchange market "traditional" turnover was broken down as follows:

• $1,005 billion in spot transactions
• $362 billion in outright forwards
• $1,714 billion in forex swaps
• $129 billion estimated gaps in reporting

In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.

Exchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. Forex futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).

Average daily global turnover in traditional foreign exchange market transactions totaled $2.7 trillion in April 2006 according to IFSL estimates based on semi-annual London, New York, Tokyo and Singapore Foreign Exchange Committee data. Overall turnover, including non-traditional foreign exchange derivatives and products traded on exchanges, averaged around $2.9 trillion a day. This was more than ten times the size of the combined daily turnover on all the world’s equity markets. Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues such as internet trading platforms has also made it easier for retail traders to trade in the foreign exchange market. ^[2]

Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 32.4% in April 2006. RPP

The ten most active traders account for almost 73% of trading volume, according to The Wall Street Journal Europe, (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203 on a retail broker. Minimum trading size for most deals is usually 100,000 units of currency, which is a standard "lot".

These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100 / 1.2300 for transfers, or say 1.2000 / 1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EUR/USD are usually no more than 3 pips wide (i.e. 0.0003). Competition is greatly increased with larger transactions, and pip spreads shrink on the major pairs to as little as 1 to 2 pips.

taken from wikipedia

"Forex" stands for foreign exchange; it's also known as FX. In a forex trade, you buy one currency while simultaneously selling another - that is, you're exchanging the sold currency for the one you're buying. The foreign exchange market is an over-the-counter market.

Currencies trade in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Unlike stocks or futures, there's no centralized exchange for forex. All transactions happen via phone or electronic network.

Who trades currencies, and why?

Daily turnover in the world's currencies comes from two sources:
Foreign trade (5%). Companies buy and sell products in foreign countries, plus convert profits from foreign sales into domestic currency.

Speculation for profit (95%).
Most traders focus on the biggest, most liquid currency pairs. "The Majors" include US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. In fact, more than 85% of daily forex trading happens in the major currency pairs.

The world's most traded market, trading 24 hours a day

With average daily turnover of US$3.2 trillion, forex is the most traded market in the world.
A true 24-hour market from Sunday 5 PM ET to Friday 5 PM ET, forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York.

Unlike other financial markets, investors can respond immediately to currency fluctuations, whenever they occur - day or night.

February 20, 2008 - Warriors Orochi hit consoles late last year with PS2 and Xbox 360 versions, both of which gave Koei fans a chance to take three characters from the various Warriors series and lay down some serious justice on the demon lord Orochi. You see, this demonic leader has bent space and time and gathered the heroes of various worlds together for a grand battle. Well, Warriors Orochi is on its way to Sony's portable system and we snagged some hands-on time with it on the GDC show floor.

As far as we can tell, the portable version will deliver a very similar experience to the console versions, with obvious alterations in graphical quality. The build available featured the first few levels of the game where you take a team of three warriors through a large battlefield with the primary intent of killing any opposing forces you come across, as well as taking down enemy fortresses along the way. The gameplay style is very similar to past Dynasty Warriors titles, although this time around you can instantly swap between your three characters at any time.

The main warrior we found ourselves using the most was Nobunaga Oda, equipped with his powerful sword. Jumping right into a battle, you can use basic combos along with more powerful charged attacks to dispatch your enemy. Musou Attacks return once again, which enable your warrior to unleash devastating techniques that demolish large numbers of troops, which is always handy in a pinch.

Mounted combat is also an option for moving across the battlefield more swiftly, though certain characters will move faster than others based on their intrinsic abilities. Warriors Orochi is clearly a game about button-mashing and causing as much damage as possible, and now you can do it all on the go.

Judging by the look of the build, the PSP version seems to be running smoothly, though the draw-distance at the moment is poor. Otherwise, animation is fluid and a decent amount of character models can appear on the screen, which is nice for a portable title. Let's hope that the inevitable massive battles that occur towards the end of the game won't force the framerate to suffer.

As limited as our time with the game was, it seems to offer exactly what Koei fans want: a portable version of a button-mashing sword fest. One of the most impressive elements of Orochi is the tremendous cast of characters available, which looks to be present in the portable version -- it should definitely please Warriors enthusiasts. We'll have more information on Warriors Orochi as it becomes available.

A rotary engine is an internal combustion engine, like the engine in your car, but it works in a completely different way than the conventional piston engine.

In a piston engine, the same volume of space (the cylinder) alternately does four different jobs -- intake, compression, combustion and exhaust. A rotary engine does these same four jobs, but each one happens in its own part of the housing. It's kind of like having a dedicated cylinder for each of the four jobs, with the piston moving continually from one to the next.

The rotary engine (originally conceived and developed by Dr. Felix Wankel) is sometimes called a Wankel engine, or Wankel rotary engine.

Like a piston engine, the rotary engine uses the pressure created when a combination of air and fuel is burned. In a piston engine, that pressure is contained in the cylinders and forces pistons to move back and forth. The connecting rods and crankshaft convert the reciprocating motion of the pistons into rotational motion that can be used to power a car.

In a rotary engine, the pressure of combustion is contained in a chamber formed by part of the housing and sealed in by one face of the triangular rotor, which is what the engine uses instead of pistons.

The rotor and housing of a rotary engine from a Mazda RX-7: These parts replace the pistons, cylinders, valves, connecting rods and camshafts found in piston engines.

The rotor follows a path that looks like something you'd create with a Spirograph. This path keeps each of the three peaks of the rotor in contact with the housing, creating three separate volumes of gas. As the rotor moves around the chamber, each of the three volumes of gas alternately expands and contracts. It is this expansion and contraction that draws air and fuel into the engine, compresses it and makes useful power as the gases expand, and then expels the exhaust.

We'll be taking a look inside a rotary engine to check out the parts, but first let's take a look at a new model car with an all-new rotary engine.

Mazda RX-8

Mazda has been a pioneer in developing production cars that use rotary engines. The RX-7, which went on sale in 1978, was probably the most successful rotary-engine-powered car. But it was preceded by a series of rotary-engine cars, trucks and even buses, starting with the 1967 Cosmo Sport. The last year the RX-7 was sold in the United States was 1995, but the rotary engine is set to make a comeback in the near future. The Mazda RX-8 , a new car from Mazda, has a new, award winning rotary engine called the RENESIS. Named International Engine of the Year 2003, this naturally aspirated two-rotor engine will produce about 250 horsepower.
For more information, visit Mazda's RX-8 Web site.

The Parts of a Rotary Engine

A rotary engine has an ignition system and a fuel-delivery system that are similar to the ones on piston engines. If you've never seen the inside of a rotary engine, be prepared for a surprise, because you won't recognize much.

Rotor
The rotor has three convex faces, each of which acts like a piston. Each face of the rotor has a pocket in it, which increases the displacement of the engine, allowing more space for air/fuel mixture.

At the apex of each face is a metal blade that forms a seal to the outside of the combustion chamber. There are also metal rings on each side of the rotor that seal to the sides of the combustion chamber.

The rotor has a set of internal gear teeth cut into the center of one side. These teeth mate with a gear that is fixed to the housing. This gear mating determines the path and direction the rotor takes through the housing.

Housing
The housing is roughly oval in shape (it's actually an epitrochoid -- check out this Java demonstration of how the shape is derived). The shape of the combustion chamber is designed so that the three tips of the rotor will always stay in contact with the wall of the chamber, forming three sealed volumes of gas.

Each part of the housing is dedicated to one part of the combustion process. The four sections are:

• Intake
• Compression
• Combustion
• Exhaust

The intake and exhaust ports are located in the housing. There are no valves in these ports. The exhaust port connects directly to the exhaust, and the intake port connects directly to the throttle.

Output Shaft
The output shaft has round lobes mounted eccentrically, meaning that they are offset from the centerline of the shaft. Each rotor fits over one of these lobes. The lobe acts sort of like the crankshaft in a piston engine. As the rotor follows its path around the housing, it pushes on the lobes. Since the lobes are mounted eccentric to the output shaft, the force that the rotor applies to the lobes creates torque in the shaft, causing it to spin.

The output shaft
(Note the eccentric lobes.)

Rotary Engine Assembly

A rotary engine is assembled in layers. The two-rotor engine we took apart has five main layers that are held together by a ring of long bolts. Coolant flows through passageways surrounding all of the pieces.

The two end layers contain the seals and bearings for the output shaft. They also seal in the two sections of housing that contain the rotors. The inside surfaces of these pieces are very smooth, which helps the seals on the rotor do their job. An intake port is located on each of these end pieces.

One of the two end pieces of a two-rotor Wankel engine

The next layer in from the outside is the oval-shaped rotor housing, which contains the exhaust ports. This is the part of the housing that contains the rotor.

The part of the rotor housing that holds the rotors (Note the exhaust port location.)

The center piece contains two intake ports, one for each rotor. It also separates the two rotors, so its outside surfaces are very smooth.

The center piece contains another intake port for each rotor.

In the center of each rotor is a large internal gear that rides around a smaller gear that is fixed to the housing of the engine. This is what determines the orbit of the rotor. The rotor also rides on the large circular lobe on the output shaft.

Rotary Engine Power

Rotary engines use the four-stroke combustion cycle, which is the same cycle that four-stroke piston engines use. But in a rotary engine, this is accomplished in a completely different way.

The heart of a rotary engine is the rotor. This is roughly the equivalent of the pistons in a piston engine. The rotor is mounted on a large circular lobe on the output shaft. This lobe is offset from the centerline of the shaft and acts like the crank handle on a winch, giving the rotor the leverage it needs to turn the output shaft. As the rotor orbits inside the housing, it pushes the lobe around in tight circles, turning three times for every one revolution of the rotor.

If you watch carefully, you'll see the offset lobe on the output shaft spinning three times for every complete revolution of the rotor.

As the rotor moves through the housing, the three chambers created by the rotor change size. This size change produces a pumping action. Let's go through each of the four strokes of the engine looking at one face of the rotor.

Intake
The intake phase of the cycle starts when the tip of the rotor passes the intake port. At the moment when the intake port is exposed to the chamber, the volume of that chamber is close to its minimum. As the rotor moves past the intake port, the volume of the chamber expands, drawing air/fuel mixture into the chamber.

When the peak of the rotor passes the intake port, that chamber is sealed off and compression begins.

Compression
As the rotor continues its motion around the housing, the volume of the chamber gets smaller and the air/fuel mixture gets compressed. By the time the face of the rotor has made it around to the spark plugs, the volume of the chamber is again close to its minimum. This is when combustion starts.

Combustion
Most rotary engines have two spark plugs. The combustion chamber is long, so the flame would spread too slowly if there were only one plug. When the spark plugs ignite the air/fuel mixture, pressure quickly builds, forcing the rotor to move.

The pressure of combustion forces the rotor to move in the direction that makes the chamber grow in volume. The combustion gases continue to expand, moving the rotor and creating power, until the peak of the rotor passes the exhaust port.

Exhaust
Once the peak of the rotor passes the exhaust port, the high-pressure combustion gases are free to flow out the exhaust. As the rotor continues to move, the chamber starts to contract, forcing the remaining exhaust out of the port. By the time the volume of the chamber is nearing its minimum, the peak of the rotor passes the intake port and the whole cycle starts again.

The neat thing about the rotary engine is that each of the three faces of the rotor is always working on one part of the cycle -- in one complete revolution of the rotor, there will be three combustion strokes. But remember, the output shaft spins three times for every complete revolution of the rotor, which means that there is one combustion stroke for each revolution of the output shaft.

Taken from www.howstuffworks.com

The guys over at HKEPC managed to get hold of an engineering sample MSI P45 Diamond motherboard (Intel P45) that looks in no way inferior to current ASUS R.O.G. and Foxconn MARS products. The Micro Star P45 DIAMOND (MS-7516) has all the features needed to be named high-end motherboard. This early ES sample features large heatpipe chipset cooling that can be transformed into water block if needed. On-board power, reset and clear CMOS buttons are also included. A clear CMOS button is also presented on the back of the motherboard. Check out the rest of the pictures over at HKEPC.


Source: HKEPC

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