Big Data and Bitcoins

Recently, Bitcoin has seen a recent spike in value, which has prompted many people to begin "mining" for more. This in turn has had a knock on effect with computer parts, sending the price of dedicated graphics cards far more expensive than before.

Big data can be used for both of these problems through methods such as google trends. For bitcoin, google trends can be tracked for how often people are giving attention and searching google for bitcoin or similar terms. Big data can also be used for tracking the current value of bitcoin and analyzing any patterns in the price changes to help predict whether the value will rise more or fall.

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3. Growth of Big Data

3. Growth of Big Data Kryder's law - The idea that data storage will double almost every year (13 months), as the storage capacity increases, storage will decrease in price. https://searchstorage.techtarget.com/definition/Kryders-Law growth of data - Data is increasing at an exponential rate, more data has been made in the past two years than ever before combined. It is estimated that by the year 2020, 1.7MB of new data will be made every second for every human on earth. Within 5 years there will be 50 billion smart connected devices on earth. also by 2020, at least 1/3 of all the world's data will pass through the cloud. The image below contains more examples of data growth as well as a graph for visual representation https://dvmobile.io/dvmobile-blog/feeling-overwhelmed-by-a-deluge-of-iot-data-iot-data-analytics-dashboards-can-help

Week 3

Week 3 Big and small data Small data is a way of keeping the size of data down. A file such as an image could take a lot of space depending on the size of the image, but by compressing it and losing some of the quality you can massivly reduce ths size. An example of small data could be Meteorological Aviation Report (METAR). The image below shows this off, each section of the code represents a different piece of information and saves entire data entries from being typed out and takes less time to process. https://www.futurelearn.com/courses/big-data-and-the-environment/3/steps/420387 Citizen Science Is the collection of data about the natural world that has been gathered by the general public, usually as part of a project with other data scientists. This can be used to gain vast amounts of information quickly since many people at once can gather the information as opposed to just one scientist or one sensor. One example is Thames 21, a charity which worked with Cit...

Big Data EC1702991

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