the tech

maybe you heard of it before the word: decentralisation as its in the talks a lot for all this crypto currency hype and things but is this really new?

and more to it: what really is this and what is crypto tech in general?

the more you dig into all this it becomes obvious very fast: you are involved into a world where everything is massively secured to be able to make interaction with other people mostly called: a transaction

well a transaction itself is not something very complicated. we do it in our daily lives. cause every interaction with other people is in its basic nature not more than a simple transaction for specific types of things we show or do to each other. mostly our words. but its also true for nonverbal things like mimics and body gestures. a twinking eye. all such things can be seen as a simple transaction to each other through we give a YES or a NO for potential DEALS we make to each other for goods and services in exchange. As a result and on daily basis and with coins and notes in usage to have the best physical anchoring for the numbers and valuing system what a currency is in general build for. For example someone wants to sell me a table. lots of bodylanguage and expressions can be exchanged before the table is itself changing its owner. in this way all beforehand is already part of the transaction for the good itself (the table). it sums up into us wanna buy it or not. the moment we make the decision for a buyment the funds get's exchanged as well. This also makes currency exchanges itself a transaction where only money is transfered between 2 parties. But this as well based on the necessary impulses. Mostly emotions and feelings towards something. But the same goes for me just deciding buying to stay with our table example: the thing from the internet. i also have to make my decision based on how i feel towards the good offered by someone else or a selling company. and so everything gets triggered appropriately.

as cool as this sounds and as easy it is to understand it. its limited very fast. the main problem is. not everyone is understanding such things in the same way what points on needing a set up protocol for such interactions and contracts especially for a structure through numbering in a bankers language called: accounting. cause it's important to set the numbers right as well!

we need them. otherwise our daily lives wont work to each other. so numbers itself are an essential thing to life itself. hence we need people that manage things towards the numbers. mostly accounting employees and bankers. to go back to our example. it would be very difficult to get this table sold if a specific protocol for transactions (and how to deal with the numbers) itself is not followed. and in worst case it would result in war to each other as well.

even with having such things established in modern and todays times, they are not perfect. exceptions exist and war and peace was and is always something that is glued together quite strong. also known as the principle called: yin and yang

but we got solved a lot troublesome issues with installing such things in the past for humanity in whole and the newest thing humanity came into invention after the invention of the general internet. is today called a crypto currency network or short term spoken: "crypto" what can and should be understood as the latest stage of evolution to our internet. especially when it comes to get ordering structures and for this how we deal with numbers is key.

All started by the year 2008 when the first software was established and going online for realising cryptographic secured monetary like based transactions and so it came to life.

it's name today well known as: "bitcoin" or "Bitcoin" with the Symbol: "BTC" simple self explaining and also a general template to get the global internet glued together with classical bank transactions practices. where the crypto secured part was quite loosely build and not ready for the modern times we life in today. also to install and get a cross border solution installed for it.

well money on the internet and its use cases already existed before. paypal as being one of the biggest services for the new times was working quite well.

but we did not had cryptographic secured money amounts itself transfering through the global internet before 2008. The same goes for the limitation problem. being out of the Gold Standard, and Glass Steagal act gotten rid of. we were simple put: overdoing the money and unfiltered!

and this resulted in changing how we were connected and the internet slowly coming to life in whole especially on the cultural side effects it had by its impact to this. it also lead us to the actual Pandemic crisis we are now facing by 2020.

but where there is bad things happen in the world. there is also good things coming to life so we should focus on making more use for this new tech the last crisis gave us, cause it gives us the actual best solution for dealing with this and future ones. cause we are now having the advantage with this, to get our money filters and limitations. back (missing gold standard) and in a new way, that helps us to watch our boundaries for transactions to each other

the cool thing is, we also get a lot of inbuild security issues solved as well. 2 birds one stone.

to give you a short and brief understanding to this: cryptographic itself in short term just points on the fact to obfuscate words and numbers. make them unreadable not easy to crack for an outsider for understanding between 2 parties. realising you this you need a good working algorithm. let's call this thing our "black box" to stay with simple understandings to this.

well ok, this alone wasnt new in itself. cryptography already existed before too. (the modern day computer algos since the 1960s and basis to crypto practices dates back into times of ancient rome when cesar was a big ruler there.) but the banks weren't using it directly in their banking systems software before, this is definitely something that came to life as a new piece of tech.

so if you managed reading to this paragraph you should now begin being in knowledge to understand and grasp the basics to the whole might and magic that comes from this crypto spheres practices.

but now comes the genius part: the "decentralisation" and "anonymisation".

bitcoin as well as a lot of other crypto networks today are based on the fact that no central authority is making a dictatorship like decision how to deal with things. and its build open source as well. what makes it even hard for governments to get their hands on it. what shows its cross border nature quite well. plus the network is based on its own implemented set of rules. based on c++ written code. and this network itself is having even its own policy folder where such ruleset are implemented. this together with its cryptographic nature. makes it powerful in very versatile use cases and scenarios.

its near to uncrackable, its not really predictable and it scales in an automatic way as the scaling is also part of how it was developed and implemented as hardcoded set of rules in the first place. the keywords here are: "halving", "difficulty" and "proof of work".

the moment someone tries to change something. the result will be immediately in a fork into a new network. keeping the old set of rules working intact. and especially its ledger and own source code.

can be understood as kind of a "hydra". cut one head. 2 new grow instead. so trying to destroy this network wont work. not in that way. as the root network or main network will stay intact. the worst that can happen is reducing it to only a handful of people still using it. but also this won't change the fact it still exist!

plus its secured in its own way by the guys that know how to code. and coders are not such a huge amount existing part of humans. estimate around let*s say 30 millions in amounts to em. if we deduct 9 millions being not explicitly daily coding work thinkers used people it gets interesting. cause 21 million is the exact limitation for bitcoins own coins amount

for better understanding to this see this copied part from its source without commenting:

typedef int64_t CAmount;

static const CAmount COIN = 100000000;

static const CAmount CENT = 1000000;

extern const std::string CURRENCY_UNIT;

static const CAmount MAX_MONEY = 21000000 * COIN;

inline bool MoneyRange(const CAmount& nValue)

{ return (nValue >= 0 && nValue <= MAX_MONEY); }

you can see and read it now for yourself. 7 code lines from a file called amount.h that ensures the whole network is limited on this given amount of coins. sure you now can get the idea: "hey let's change this entries and numbers". sure you can do this. But then exactly the thing happens that we mentioned before the network will going into a forking state. you will get your version while this original will still stay intact. and even if most people will use the newer version instead of the original. it won't change the fact of this root build. Plus the network itself ensures only the longest chain survives on the long run. so the worst case that can happen is we creating a bubble in the money markets where most people will use the new created chain. until the network catches up and everything going back to normal. as the root build prohibites using a shorter version of itself. only the longest chain survives!

so we need those programming guys. cause without them. no car would drive, no facility would power up its electricity, no smartphone and computer/laptop would run. plus lots of more use cases that are based on their hard working nature in the past and present. especially the modern banking systems. all based on coders work. and even if you still think they are a bit strange folks. try get better in show them more respect how they build our world we live in and ensure its running for especially the tech part.

in simple words spoken: they give life essence and protocol behaviour to material things. what enables us to interact with those things in our day to day life. kind of a modern times magicians

people often take those things for granted. especially in modern life.

but as you can see for yourself now its not. and same goes for crypto currencies. thanks to coders and one genius coder that invented it under using the pseudonym: "Satoshi Nakamoto" (well choosen and decided as it translates to wisdom and engine)

we today are able to interact with each other in much faster ways then ever before

bitcoin since it came to life is developed as being an instant transaction network dealing with its own units called bitcoins. its smallest fractions are further called after the inventor: "SAT" or "satoshi" to give an example: 0,00100000 BTC will translate into: 100k satoshi (est. around 10 USD)

As the network itself is being mined, you need the miners that on the one hand steming the physical mining part, on the other make sure the virtual transaction network runs properly and the right "chain" is being used.

this explains why we have this 10 minute Blocktime processing threshhold built into as well. but it also shows its secure nature by this. and its better to wait a bit longer especially when transfering huge amount of sums than getting problems with guys that hacked into and redirected things elsewhere. what is not a big deal to do in regards to the old banking system like it was in the old days

for this cryptographic set of rules help us securing things much better. without loosing the comfort of "talking the money" to each other

but let's get us to the decentralisation part next:

in a decentralized network there is (hence the name) no central authority that is able to decide how things are being done.

well if you deal with money this cannot be installed 100% as you would getting lost on the banker or better said central inventor itself. without him the whole system would not work and he will always be its center no matter what. mainly cause he created the coming to life aspect of it. bitcoin itself is not changing this fact otherwise satoshi itself wouldn't be able in getting us this masterpiece coded in the past. and he prefers staying in the backgrounds for himself.

what is however changing in fact is that the moment someone runs the software on his own local hardware. he is right from start declared and seen as such a crypto banking user and decision maker for the network. also a participant. when it comes to mining its also called a nonce or Full node.

now understand this as one stream that is being created of energy that from there is getting interwebbed with lot's of other streams of energies. resulting in an own monetary internet. and for everyone based on the exact same set of rules, that cannot be changed without forking its own groundbase coded structure the moment someone tries to do this.

ok such things already happend in the past and are no big deal for the network

now combine this powerful "black box" and plug this into the old internet version and you get a fully functioning internet with automated implemented monetization rules. completely based in a decentralised way. and cryptographically secured!

in other words: state of the art technology for dealing with money!

classical bankers becoming bitcoin or better said crypto bankers/users. and only able in influencing in the amount of knowledge they have in regards to understanding of the network. not coins isolated! or better said not isolated only by coins! its one genius part of how the network secures itself. cause such new bankers are now only declared bankers if they are able to code and understand sourcecode themselves. this hindrances people getting control over things that isolated think in money and isolated try to overpower something with this thinking alone. it shows the evolutionary aspect in it. what is also clearly showing where we get something new installed here for our actual presence in dealing with money and also getting something that can last for a very long time cause of this secure build!

but it goes the opposite way as well, for people that only comes from the coders perspective and knowledgefield of things. so you need both sides of the deal so to say to be able to have some saying to how things should work and be done in your perspective. what can also be declared as mining power as well and a 3rd part in this the miner itself. the guys that just buys hardware to mine coins isolated to be able to sell the coins with hopefully in profit. you see its not easy to screw this network just from one side you need combination knowledge in all 3. groundbase to a valid banker. that will automatically work towards keeping this network still running.

this makes sure money is not dictating things alone. as well as tech thinking for coding alone but how to make use of it and this makes a huge difference from just classical banking and money processing perspective!

well and the most cool part definitely is the fully transparent open transaction register or ledger everyone can watch wallet adress amounts at and transactions itself. what too is helping a lot for scaling the network further and if you give someone your wallet address or transaction history or not is something you have to decide for yourself, what points on further the user being responsible for how secure he wanna use it.

we also wanna add the ethereum network here. it is not exactly the same as bitcoins, but also based on it. without coin amounts in the past there won't be an ethereum network today.

but the differences are still at hand. and can simply understood as the one thing specialised on hardcoded things and efficiency + security

the other in this case ethereum coded with quite newer code base and language (go) and meant acting as mainly a contracting network. it helps establishing money contracts much easier and in an automated way. its similar to real coins vs notes and sound money. notes are based on coins but much lighter and easier to deal with in exchange. on the other side coins are a bit heavy to carry and limited on smaller amounts.

there are pros and cons for both sides. but economy works best when having both.

in basics all this crypto stuff is mainly realising this. online version for coins and online version for notes and bills with special contracting.

ethereum is also a much younger network build by a newer generation as it origins into 2014. in other words 6 years after bitcoin came to life.

dealing with crypto works best when using knowledge from both networks. if you are interested into ethereum the ledger can be found here: eth transaction register you should now have a much better understanding for all this. from here on its a decision if you wanna take more part into this or not but thanks to ethereum such things gets more and more better automated contracted throughout the general internet and people having it easier to live their lifes based on those contracts. as there is still the possibility of unsatifaction for things people will also automatic contracted into new experiences. pretending they having the willpower to express those things to others. should this still be an issue, the best way you can deal with it, is accepting the fact that its you who decides how a transaction is done change your use in how you do them, and new possibilities will soon show themselves ;)

summed up monetary data can be found here: coinmarketcap.com

thx for your precious time and effort reading through all this information and we hope to got you upgraded a bit in your knowledge for it as well. you also have proof now you got your first BTC now from us for free as all the information you read through until this point, is able to yield for this in amount if someone sells it in the general money markets. And we are glad in giving something back to people that helped us building into this Company. Therefore it is herby contracted by us to everyone that did read through this.

*HandshakewiththeReader* *handingout1BTCinamount*

Satoshi Nakamoto himself stands for Knowledge & Wisdom and Knowledge is as you can see always key ;)

stay tuned for upcoming things...

-myneTEC Group

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