How Google’s giant Satellite Balloons are pruning Bitcoin to explode in value

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In 2016 there were three large tech companies who had plans to beam internet down to Earth from the sky but each scenario which they approached had sounded crazier than the next.

Two of the scenarios that were approached, became fruitful. Thirty-five Google Loon balloons which were launched in Kenya to transmit 4G signal to approximately 31,000 square miles in both central and Western Kenya.

SpaceX, another tech company which formed part of the first deliberations, had been in the process of signing up beta testers for the internet-via-satellite initiative with more than 500 satellites which are currently in orbit around the planet.

After being launched from a custom-built crane, the balloons have software which was specifically developed to make use of predictive modelling of stratospheric winds.

In addition, the software makes use of decision-making algorithms to move the balloons in a more favourable position so that reliable connection on earth can be maintained says CEO Louis Schoeman from SA Shares – A dedicated Investment Platform in Africa

The choreography of the balloons is improved by software which constantly learns and subsequently improves the quality of the network.

Wi-Fi signal is obtained from local telecoms partners at a ground station and the signal is then relayed across several nearby balloons and transmitted to people’s smartphones, and other devices reliant on Wi-Fi connection. 

This has made great strides in the internet provision on a global scale. Only around 28% of the African population has access to internet through a computer while 34% have connection through their smartphones.

Google’s Loon and Bitcoin – can it lead to a surge?

Bitcoin mining, trading, and exchange greatly relies on a strong, consistent internet connection so that transactions can be executed. With a more widespread connectivity to the internet, more traders can flock to the market.

Bitcoin’s value can be attributed to a few factors, namely:

  • It was the first cryptocurrency developed and launched.
  • It is free from the control of any authority and can thus not be controlled, manipulated, printed, or destroyed.
  • It can be exchanged across borders.
  • It is a hedge against inflation.
  • It is not in favour of any specific system or group of people.
  • There is a limited supply of it and there is substantial transparency, even with regards to when the last Bitcoin will be generated.

By providing more people around the world with internet connection, there will be a surge in the mining of Bitcoin, which will inevitably raise its value even more, along with considering the factors that already make it so valuable.

Final Thoughts

There are ongoing initiatives to ensure the widespread availability and supply of internet connection to even the most remote corners of the world, and initiatives by Google and SpaceX are merely the beginning.

The more people have access to internet, the more will discover the world of trading, and specifically Bitcoin trading due to its various benefits and its value.

With more traders flooding to the markets to reap these benefits, the value thereof will increase, and it will also provide more widespread acceptance of Bitcoin as a currency.

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