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Elon Musk wants to whisk you from NYC to DC in 30 minutes with a new Hyperloop

Why it matters to you

Elon Musk says that his Boring Company is getting closer and closer to transporting folks, with the latest tunnel slated to run between DC and NY. Elon Musk’s next project may be a bit more … boring[1] than his previous endeavors. The founder of SpaceX[2] and Tesla[3] is accustomed to flashy enterprises and larger-than-life dreams (that all seem to be coming to fruition), and now, he’s turning his attention to a simple problem that plagues all of us: Traffic[4].

Because why shouldn’t it take us 29 minutes to get from New York to D.C.? With Musk’s Boring Company, this could be our new reality, especially now that he has approval to begin digging in Maryland[5]. Obviously, the man who conceptualized the Hyperloop[6] has never had the patience for sitting in gridlock, and last December, the entrepreneur took to Twitter to express his frustration, and more important, his solution. “Traffic is driving me nuts.

Am going to build a tunnel boring machine and just start digging…” he wrote cryptically on December 17 of last year. And just for good measure, he added later, “I am actually going to do this.”

Traffic is driving me nuts. Am going to build a tunnel boring machine and just start digging…

— Elon Musk (@elonmusk) December 17, 2016[7]

Digging a bunch of tunnels[8] does hold the prospect of adding additional lanes to urban areas that can’t easily accommodate more lanes above ground. And given Musk’s track record in other areas, we can at least hope his solution is feasible.

Exciting progress on the tunnel front. Plan to start digging in a month or so.

— Elon Musk (@elonmusk) January 25, 2017[9]

The tunnels for the Boring Company are slated to begin “across from my desk at SpaceX,” which is located near “Crenshaw and the 105 Freeway,” about five minutes from LAX, Musk said earlier this year. He’s also addressed concerns about earthquakes, noting that these natural phenomena “tend to have the biggest effect on the surface, like waves on water. That’s why LA can have a (lame, but getting better) subway.”

In late April, he spoke at a TED conference[10] where he outlined more concrete plans for his underground company. Per a concept video, Musk intends to drop cars (gently, of course), beneath Earth’s surface by way of a system of elevator platforms. Cars will drive onto designated areas, which will then be lowered beneath the ground.

Once underground, however, the cars won’t be driving themselves. Rather, they will be controlled autonomously by the system at large and sent to their final destinations at speeds of up to 130 miles per hour. We’ll soon be able to put Musk’s claims to the test, as the entrepreneur revealed in July[11] that he had received verbal government approval for The Boring Company to build an underground system that will take commuters from New York to Philadelphia to Baltimore to Washington, D.C. “NY-DC in 29 mins,” the founder tweeted.

While that may seem like a pipe dream, and involves speeds faster than currently planned, it’s inching closer to reality, as Maryland has given Musk the green light to begin digging a 10.3-mile tunnel beneath the Baltimore-Washington Parkway. This marks the first part of the New York to D.C. route, and is just one of many approvals Musk will need to actually bring the Boring Company to life in a real way. “This thing is real.

It’s exciting to see,” Maryland Transportation Secretary Pete Rahn said. “The word ‘transformational’ may be overused, but this is a technology that leapfrogs any technology that is out there today.

And it’s going to be here.”

Update: The Boring Project has approval to begin digging in Maryland, where it will complete the first part of its Hyperloop that wants to get you from New York to D.C. in under 30 minutes.

Editor’s Recommendations

References

  1. ^ boring (www.digitaltrends.com)
  2. ^ SpaceX (www.digitaltrends.com)
  3. ^ Tesla (www.digitaltrends.com)
  4. ^ Traffic (techcrunch.com)
  5. ^ Maryland (www.latimes.com)
  6. ^ Hyperloop (www.digitaltrends.com)
  7. ^ December 17, 2016 (twitter.com)
  8. ^ bunch of tunnels (www.digitaltrends.com)
  9. ^ January 25, 2017 (twitter.com)
  10. ^ TED conference (www.slashgear.com)
  11. ^ revealed in July (twitter.com)

Bitcoin’s latest boom sends it scorching past $6,000

Why it matters to you

Bitcoin is on another one of its tears and though we don’t know when it will stop, it’s breaking new cryptocurrency value records as it goes. Despite increased competition from other cryptocurrencies, Bitcoin is still the king. MarketWatch[1] reports that the online currency has skyrocketed in value soaring past £6,000. The Bitcoin market is now valued at over £100 billion, and it doesn’t appear to be slowing down anytime soon.

This rapid growth has put Bitcoin on relatively equal footing with some of the world’s largest companies, such as United Technologies Corp, which is valued at £96 billion. There are indeed some issues with comparing Bitcoin to traditional corporations, but it does highlight just how much the cryptocurrency has grown in recent years. Depending on who you ask[2], Bitcoin’s status as the most prominent cryptocurrency in the world was never in doubt.

It has faced some challenges in 2017, most notably the Bitcoin Cash[3] hard fork, and a recent shuttering of Bitcoin trading in China. But that appears to have done little to stymie Bitcoin’s growth. At the start of 2017, a single Bitcoin would have cost you just over £1,000 — quite high, actually, considering it was less than half that amount the previous year.

But that peak proved to be just the start of the currency’s latest boom, with explosive interest sending it to new heights within months, and it now sits at an all-time high of £6,064.14. If there have been so many problems with the currency this year though, why the latest bubble? Ars[4] believes it could be Bitcoin’s use as a foundation for the initial coin offerings (ICO) of new cryptocurrencies. While buying a new currency with real-world money isn’t easy, Bitcoin’s intrinsic ease of transfer means it’s a great interim medium for transactions with new coins.

Buying Bitcoin in order to buy newer coins only serves to drive up its value. With a myriad of different cryptocurrencies now in use around the world — including one designed exclusively for dentistry[5] — there’s plenty of investment in Bitcoin to be had as a secondary aspect of their ICOs. Anyone who has looked at Bitcoin’s history will expect a bursting of this current bubble, though.

Traditionally, Bitcoin value rises amid new interest, reaching new heights only to crash down again shortly after as confidence waivers, before gradually making its way back up again.

Although it’s never a guarantee and great caution should be taken if investing heavily into something as volatile as Bitcoin, its rises and falls in value have become more predictable as time goes on.

Updated on 10-21-2017: Updated to reflect the news that Bitcoin broke the £6,000 mark and has a market value of more than £100 billion.

Editor’s Recommendations

References

  1. ^ MarketWatch (www.marketwatch.com)
  2. ^ Depending on who you ask (www.digitaltrends.com)
  3. ^ Bitcoin Cash (www.digitaltrends.com)
  4. ^ Ars (arstechnica.com)
  5. ^ designed exclusively for dentistry (www.digitaltrends.com)

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