the tech

Note: this explanation may take you a while to read through. but it is a groundbase and educational purposes recommended thing to do. you won't regret it ;).

so let's begin, shall we!

Maybe you heard of it before the word: "Decentralisation" as its in the talks a lot for all this crypto currency hype and things that had come to live

but is this really new?

and more to it: what is this really? 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 an interaction with other people over the Internet mostly called: a transaction, possible!

Well a transaction itself is not something very complicated. At least the gist of the nature of it. We do it in our daily lives. cause every interaction with other people when we come into an agreement and negotiate for it 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.

For sure this has become the normal word for also when it comes to financial exchange to each others. So as a result and on daily basis and when it starts with using financial relevant coins and notes to get the best physical anchoring for the numbers and valuing systems.

We get our typical world of reality where transactions that people do to each other are a normal thing. easiest example: buying something at a local grocery store and paying with an electronics cash card. But for this you need. Right! a currency in what you can do the payment with, to get your goods bought. Also what a currency is in general build for (principle is: current for money, what always also points on a flowing or circulisation aspect of it).

This helps us a lot for communication matters as well. so for satisfaction for exchange towards goods and services with each others. For example: someone wants to sell me a table. Now lots of bodylanguage and expressions can be exchanged before the table is itself changing its owner. In this way all beforehand happend action and impulses is already part of the transaction for the good itself (in This case: the table). It sums up into us wanna buy it or not as an endresult. the moment therefore we would 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 that point on different realms (countries,nations). 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 now 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.

A best way for this example where currency differs as well, is someone from the USA tries online to buy such a table from let's say China. over the internet you can do this very easily. shipped in no time. but technically you stil having the problem of now having to exchange USD into Chinese understood Renmimbi Yuan. cause you switch area distance a lot outside of one Country into another. This obviously needs someone doing you this job. In principle a currency trader. Exchanges where Traders trade em. Now all those crypto currency differences and lots of exchanges existing may also make more sense to you. basically different types of understanding the world and issued by an own coinage or token basis, to express it to the outside.

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

Then there is also law issues for the countries and nations its done with inside. So you need regulations into place as well. Just to give you another example: Try to buy your table with your USD if it doesnt even cost the same number amount in chinese currency. basically a transformation from one side into the other has to be taken place. And numbers and dealing with them in the right way is an essential Job therefore to do this. Otherwise forget getting your new table ever delivered! (not to point on logistics own worlds how to deal with things, but that would be another story ;) ).

So we need them and the people doing the jobs here for us towards em. Otherwise our daily lives wont work to each other. So numbers itself are in general an essential thing to life itself. Hence we need people that manage things towards the numbers next. Mostly accounting employees and bankers and/as well as currency traders. But 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 through thouroughly.

A table for let's say 100 usd is a complete other amount in chinese currency. I did some calculation for you (to also give you a bit of an impression of mentioned job roles tasks: 778,84 Renminbi Yuan) Cause in worst case it would result in war to each other as well. 100 is unfortunately not 778,84 in numbers equivalence. U see, a contract has to be build to make it into that next. Otherwise you get endless fighting about how to exchange this right.

Obviously we want to avoid that war happening so better make good contracting. So our USA citizen can buy himself a new table from china now! Doesnt mean he have to. But its a normal luxury today the internet enables people to do business conducts in such ways. and where there is a need, there will be realising a market and products been sold and bought to each other as a logical outcome indeed.

But 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 of 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 latest 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. Cause now we can also better protect those 2 parties from outside influence as well. Resulting in a good deal for our table being sold and bought. Especially when it comes to get ordering structures and for this how we deal with numbers is key. Quite sophisticated isn't it ;).

But let's look a bit deeper in its roots: All started by the year 2008 when the first software was established and going online by 3rd January 2009 (Block 0) for realising cryptographic secured monetary like based transactions with the potential to become a new and globalized reserve and remittance system as well. So it originally came to life.

It's name today well known as: "bitcoin" or "Bitcoin" with the Market Symbol: "BTC" simple self explaining and also a general template to get the global internet glued together with classical banking transactions practices. Cause in this old system this securing aspect was quite loosely build and not ready for the modern times we live in today. We basically got our first install of this new system that through its own peer2peer and cross border capabilities, now enables us being ready for the 21st century as its basically own new core transaction system for the world.

Well money on the internet and its use cases already existed before. And even this new System has for sure start with old money basis as well. To point on the USD and its understanding of it by the creator of the bitcoin code. Paypal also 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 2009 not on a mainstream scale potential. 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 Pandemic crisis we were faced since 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 former crisis from 2008 times gave us, cause it will help us a lot in getting ordering structures build up where it was quite difficult before.. 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 in a more sophisticated way especially when it comes to the virtual realm the internet exist into.

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 since 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, they only secured the servers (if even) itself but not how money is saved on a hard disk drive as an own system to do it. this is definitely something that came to life as a new piece of tech. Also running by its own database.

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 in theory 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 isolate it and getting their hands on it. what shows its cross border nature quite well. Plus the network is based on its own implemented set of rules with its own policy folder. based on c++ written code. 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" , "Block 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. principle of being allowed and able to build your own version of it.

Can be understood as kind of a "hydra" as well. Cut off one head. 2 new will grow instead. So trying to destroy this network wont work. Not in that way at least. 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! Doing furtheron its work in the backgrounds.

Furthermore its secured in its own way by the guys that know how to code. and coders are not such a huge amount of 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 and used people it gets quite interesting. Cause 21 million is the exact limitation for bitcoins own coins amount.

For a better understanding to this see this copied part from its source without comments (Note: its from an older version, they later deleted the CENT unit so it is not existing anymore in newer codebase).:

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, i mean its just written code so i can easily do it!". sure you can do this. But then exactly the thing happens that we mentioned before the network will going into a forking state (and in this case it would be called a hard fork) you will get your own 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 of transactions 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 newly created chain now. 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! to ensure this it constantly runs an a and b chain in its own memory pool for comparison reasons to be able to decide what the best chain is. we basically get kind of a principle of hedging something. to compensate. Also inbuild functionality you see!

So, as you now understand: 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 even 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. that runs on servers mostly, 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 and they will reward you plentiful where you least expect it!

So in simple words spoken: they give life essence and protocol behaviour to material especially machine based things. What enables us to interact with those things in our day to day life with each other. Kind of a modern times magicians and especially in our modern times the physical engineers working more and more together with them hand in hand. software vs hardware building.

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

But as you can see for yourself now, they should 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 motion)

We today are able to interact with each other in much faster ways then ever before on a virtual realm but also much more secure!

bitcoin since it came to life has been 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 55 USD [21.04.2021])

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

this explains why we have this 10 minute Blocktime processing threshhold built into as well. basically an indicator of its secure nature. it is also recommended to wait a bit longer especially when transfering huge amount of sums and data than getting problems with guys that hacked into and redirected things elsewhere. when the transactions have not even confirmed yet often enough! what is not a big deal to do in regards to the old banking system like it was in the old days. so its obvious this gets transformed as well more and more into our new system here

For this cryptographic set of rules help us securing things much better than ever before. without loosing the comfort of "talking the money" to each other, should we decide and want to.

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 of a new money system 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. But this doesnt necessarily mean he is the main decision maker. at this point it is more like. the fact the body exist and mind. Keeps the network alive. not how it works. So more like basic survival to further be able to exist. Bitcoin itself is not changing this fact either. otherwise satoshi itself wouldn't be able in getting us this masterpiece coded in the past. There is a lot of speculation that rumored about who he really is. But in the end it never got public. so it stays in the unknown furtheron. But maybe this was the best that could happen. This gets the focus more on what had been build. If it has a lot of potential can therefore become quite strong and powerful for the world out there ;).

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 Full node this is then termed to.

Now to have it a bit easier to understand imagine this as one stream that is being created of energy that from there is getting interwebbed with lot's of other streams of energies. (we did mention the yin yang relationship before. and the chinese culture is also having a word for energy itself: qi also named Ki) resulting in an own monetary internet (one big container for basically every other understanding of money out there). 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. look at the general markets yourself and you will see how many forks nowadays exist. Cause their origin came to life exactly because of this.

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

now combine this powerful "black box" and plug this into the old internet version from the 90s 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!

You now have the basic understanding of coders and the bankers. 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! and our mining guy ensures everything running smoooth on the outside physical world.

But now for the most cool part, that is definitely 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. But if you give someone your wallet address or transaction history or not is something you have to decide for yourself on your own, what points on further the user being responsible for how secure he wanna use it as well!# for Bitcoin and how everything came to life that is basically it.

But we also wanna add the Ethereum network here. It is not exactly the same as bitcoins network, but also based on it. Cause 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 (google invented based: "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. (credit cards can easily attached to Ethereum) on the other side coins are a bit heavy to carry around and limited on smaller amounts.

there are pros and cons for both sides. but economy works best when having both. and bridging solutions and swap installments do the rest how to exchange one side into the other.

In basics all this crypto stuff is mainly realising this for realising itself a funding basis for todays Internet. online version for coins and online version for notes and bills with special contracting capabilities.

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 however works best when using knowledge from both networks. there are some slight differences, but the transaction principle itself is mostly the same. 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 and fund their lifes based on such contracting.

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 or buys it from someone else in the general money markets (basically the hyperlinks yield). 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, also as a reward for willing to do this long read until the end and as said before, if we show the right people our respect, they will reward us plentiful ;) :

*HandshakewiththeReader* *handingout1BTCinamount*

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

stay tuned for upcoming things...

-myneTEC

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