HELLO MY Friends! We're Digging DEEPER to try and REALLY Understand what Bitcoin is and why was it created! All WHILE Really looking at the "Coincidences" that we now can look back on!
First off, DO YOU PERSONALLY BELIEVE IN COINCIDENCES?
Now I Know that some of you already know What Bitcoin is And who Satoshi may or may not be! Who Ripple is and how XRP (their native token) is going to be utilized and adopted!
We're going to take this step by step! I WANT THE NEWEST PERSON TO READ THIS POST AND UNDERSTAND WHAT WE'RE DEALING WITH HERE!
So certain things, some will already understand and know and certain things you'll be seeing for the very first time, right here on this Post!
What is Bitcoin?
Bitcoin (₿) is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. <--- thanks Wikipedia for your definition of Bitcoin!
Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its source code was released as open-source software. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
Who is Satoshi?
Satoshi Nakamoto is the name used by the pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database.
Now for my easy to understand.- Bitcoin is a digital currency (currency=MONEY) Money that you and can hold and transact with out the Permission of a Bank or third party! Money/Value that can be sent and spent directly from One person to another person through the Bitcoin Network!
What is the Bitcoin Network?
The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software
So on this Network we can run our own Transactions that become validated through the ownership of our Private Keys (our own digital personal bank account in a sense) example- I receive your bitcoin wallet address, I then enter the amount of value/bitcoin(s) i want to send to you after I've entered your Wallet address and the amount of BTC I want to send to you I click send, the network validates our transaction to confirm that I had that amount of value to send to you in the first place (this process takes 15 minutes or so) once validated you'll be notified that you've received Value/Bitcoin(s) from Me!!
How do the transactions get verified?
Bitcoin Confirmations are Roughly every ten minutes, a new block is created and added to the blockchain through the mining process. This block verifies and records any new transactions. The transactions are then said to have been confirmed by the Bitcoin network.
What is a block? What is the Mining process?
A block records some or all of the most recent Bitcoin transactions that have not yet entered any prior blocks. Thus, a block is like a page of a ledger or record book. Each time a block is 'completed', it gives way to the next block in the blockchain.
WHAT IS BITCOIN MINING? Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.
Bitcoin mining is done by specialized computers. The role of miners is to secure the network and to process every Bitcoin transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions!
We the people can mine bitcoin, we can also pay for mining contracts from someone or a company that has the equipment to mine, We purchase the equipment basically from them, they take a % of our mining rewards since usually they're the ones paying for the electricity and the ones who own massive equipment for us to either rent/own! Bitcoin mining isnt as profitable today as it has been over the past years! As bitcoin becomes older and older it becomes harder and harder to mine the remaining coins!
Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its source code was released as open-source software. Coincidentally this is the exact time frame of Our Last Big Financial Crisis!
The financial crisis of 2007–08, also known as the global financial crisis and the 2008 financial crisis, was a severe worldwide economic crisis considered by many economists to have been the most serious financial crisis since the Great Depression of the 1930s, to that its compared too often!
According to wikipedia the Financial Crisis Was caused by the deregulation in the Financial industry that allowed banks to be even more corrupt then they were at the time. (OOPS DID I SAY THAT?)
The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. ... That created the financial crisis that led to the Great Recession
So Again I ask the question, do you believe in Coincidences????????????
Bitcoin was created by "Somebody" at the exact same time the "world" was experiencing crisis like the likes of no other, that's never been felt since after The GREAT Depression?!?!
This Global Economic Disaster happened although the Fed and the Treasury Department trying everything they possibly could do too stop this from happening, it still happened! <---- Now take a look at what's been going on for the last few months!
Have the Fed held off on Highering their Rates?
Why are the FEDS pumping money into wallstreet under "REPO" A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of short-term borrowing, mainly in government securities. The dealer sells the underlying security to investors and buys them back shortly afterwards, usually the following day, at a slightly higher price.
In late September Yahoo finance stated that some companies were paying upwards of 10% for overnight money... problem isnt banks, well it is but its because they've fallen short on Global Liquidation, Liquidity is needed in the real world, so the world can keep running and transacting 24 hours a day 7 days a week!
With this being said, check out the section below where I talk about Ripples Native token XRP and how their On Demand Liquidity (ODL) is the true game changer and will be the reason that their will NEVER be another liquidation problem again if adopt and use ODL for Liquidity as Big Name Companies Like Moneygram have already started doing! Let's look into XRP, the "coincidentals" of XRP and BTC relations and why I believe BTC was created So XRP could thrive!!
I Dont hate BTC, I love that it's going to be a Great Store Of Value for myself and future generations! But I'm looking for the HOMERUN! THE GRAND SLAM! THE HOLEY GRAIL OF CRYPTO CURRENCY AND DIGITAL ASSETS! THE ONE AND ONLY THE TRUE DIGITAL ASSET BEING UTILIZED AND MASS ADOPTED "XRP"!! UTILITY AND LIQUIDITY LIKE NO OTHERS!!
(Have you ever went to your bank and been bothered and harrassed because you felt like taking out $5,000 of your Hard earned money?
Well problems like this will seek to exist in our very very near future! We the people will be in 100% control of our money and do as we please with it, when we want to!
Was Bitcoin the Fix the world was looking for? Or was it just the first one to the show, to create awareness to the availability of the new Era Technologies that we have found and created today?
With all this great info about Bitcoin, you may think this is the one, well your kinda right! It's the one that Got everyone's heads turning into the digital direction! Some have come and gone and others are here for the long haul! But digging deeper and perhaps finding the one is what were about to try and uncover!
(Because I appreciate and respect your time)))
I'm going to write a separate completed post for Ripple and XRP and share why I believe the 2 we're never against one another as A Bitcoin Maxi of An XRP Maxi would have assumed!
Our next Post will be our best post!
Let's look at Ripple the company and XRP the digital asset that will be mass utilized and adopted sooner then later and is already (opinion based off of Acknowledgement that Utilization always will Win the Race!