You all really NEED TO read this thru. It’ll only take you ten minutes. Why? For anyone to refuse to learn about cryptos and why they’re here and why they’re better and why they are the future you will be living amongst before we all leave this earth, and in fact are about to become part of our everyday lives real soon, is like refusing to become familiar with computers, or the Internet, or Internet banking, or mobile phones or anything technical that is now impossible to stay away from. They all became part of all our lives weather you like them or not, and so are cryptocurrencies. So I just want to give you all a crash course on what is happening right now and why you should know about this. Especially if you want to make lots of money.
You’re all lucky that I’m a crypto encyclopaedia and a contributor to humanity. My particular skill is not only knowing as much as I can about this new technology, it’s putting complex things into an understandable format so anyone can comprehend and appreciate it no matter what the subject. If you read this you will have a general understanding of what this is all about. Even how to make a lot of money from cryptos. So here goes…
What is Bitcoin? Bitcoin is the worlds first cashless digital currency, and payment network. The end! There’s no mystery as to what it is. That’s it. It is an alternative currency that allows you to do things just not possible in the current banking and global payment system. Let’s say you’re in Egypt and you get rolled and your wallet’s stolen. You contact me.. Cliffy, I need a few grand to tide me over and I need it NOW. Under our current banking system that will take three to five working days to arrive.
It literally needs to be sent from your bank to whoever they are affiliated with, then to whoever they’re affiliated with, to whoever they’re affiliated with, and so on and so on, thru a chain of banks all sending that amount of money from one bank to another until it reaches a bank in Egypt. That’s what takes the time. The global banking system is not interconnected. So in the 21st century I can do anything else instantly, except move money. It’s a disgrace that banks have not created a way to facilitate instant transfers anywhere in the world.
So, Cliffy logs into my crypto account, I transfer a few grand into it from my bank account which takes one minute. I then buy that amount of Bitcoin which takes another minute. I then send that Bitcoin DIRECTLY into your crypto account via our smart phones which takes maybe two minutes. You receive that Bitcoin in Egypt, you sell it which takes one minute, and you have that money in your bank account in five minutes. Then you can go check out the Pyramids or buy hashish or whatever you want to do with the MONEY I just sent you. The deals done, it’s over, it’s complete. That is what Bitcoin was made for. That’s what makes the concept of Bitcoin so amazing. It is not a made up currency. It is an alternative medium of exchange. Now you know what, why and how.
So why is Bitcoin so unique? Bitcoin is the worlds first digital anything that cannot be copied. It’s impossible. Until Bitcoin and the blockchain network it runs on was created, anything anyone created in a digital format could be acquired, and then copied a million times over. There is nothing stopping anyone with a computer steeling someone else’s digital creation and on selling it. Anything by anyone. That’s all pirated movies are. Copies of the original usually. But not now. You cannot double spend a Bitcoin. It cannot be copied or counterfeited. It is IMPOSSIBLE. Music, movies, software or anything digital will now be impossible to be replicated. This is a HUGE leap in digital ownership and the rights the owner has to that digital creation.
This is made possible because each Bitcoin, or any crypto transaction for that matter, needs to be verified thru a bunch of random unconnected computers spread across the world. This is called decentralisation. There is no central authority running Bitcoin. It’s like the Internet. No one owns it, runs it, it cannot be turned off, it cannot be controlled and it cannot be stopped. Bitcoin is identical to the Internet itself. This is why governments hate it. They didn’t create it, they can’t control it and they cannot stop it. Wonderful!
Who needs them? Corrupt, incompetent, self serving, wasteful organisations of bureaucrats infecting the globe with their bankrupt and authoritarian and ancient policies and mindset. They rule the world and have no idea how to do that effectively. These taxation and redistribution fanatics control us and everything we do, don’t do, buy, don’t buy, see, use, eat, consume, feel etc, they control everything. And it’s not good. They are not here for the good of the people. They were designed to be, but they’ve strayed so far off their original design it’s a disgrace. They’ve enriched themselves and bankrupted the world. And we have been helpless to push back or do anything individually or collectively to stop this happening. Well ladies and gentlemen, welcome to the future.
Now, we, the people can create our own money and there’s nothing governments can do to stop us. This is MASSIVE. It’s the biggest up yours to governments around the world and I love it. This is why I love cryptos. Cryptos and the blockchain technology they run on will allow all of us to take control of what we do, how we do it, what people know about us, and how everything is done. This is a good thing my friends, believe me. This is the future I’m talking about. Out with the old, in with the people. And it’s happening. It’s happened. Now. Bitcoin is a revolution. You need to learn about this and embrace it. Bitcoin was just the start. Now the rest of history is about to play out because of the advent of Bitcoin.
Anyone can choose to verify any cryptocurrency transactions. You just buy the dedicated computer, or a thousand of them, and set up shop. You turn them on and they run at full speed, 24/7 solving millions of complex mathematical equations as part of the cryptographic process of verifying each transaction. This is called mining. The miners are rewarded in more of the cryptocurrency you are verifying the transactions for. It’s your choice. With Bitcoin transactions, you are rewarded in more Bitcoin. And that’s how more Bitcoins are created. Thru the transaction verification reward program.
Now here’s the kicker. The reward amount for verifying Bitcoin transactions halves every four years and will keep halving until the last Bitcoin is created. It started at 50 for a block of transactions, then went to 25, then 12.5 and it’s now at 6.25 for the same amount of transactions to be verified. Because of this halving, the life span is extended. There will only ever be 21 million Bitcoins created. Ever! And we’re already up to nearly 19 million. With the halving taking effect, less and less Bitcoins are created the more time goes by.
Because of this reduction in the mining reward, it’s estimated that the final Bitcoin will be mined around 2,140. That’s another 120 years from now. In 3 years the reward will be halved again to 3.125 then 1.5625 then 0.78125 then 0.390625 then 0.1953125 and so on every 4 years for the next 120 years. Not only does it give this currency longevity, by definition, it needs to increase in price to accommodate the halving of the reward. If the price doesn’t continue to rise the entire concept falls down. So Bitcoin, by design, although it booms up and crashes back down in price, will continue to steadily rise over the years ending at what’s thought to be a million dollars for each Bitcoin or much, much more. One Bitcoin has eight decimal places and by the end, that last decimal number should be worth US$1.
So for any of you to think that Bitcoin is bullsht, it will not last, it is not worth what it is, it is not real or it’s simply too complicated to understand just isn’t so. Bitcoin is an amazing concept. It may not last I don’t know, but what it signals is a new way of thinking where the people, or smart people on behalf of the people, will create good things to remove us from centralized governments and central banks, and their bankrupt mentality and their authoritarian rule. Bitcoin signals the end of the status quo and the start of the rest of time.
Okay so that’s the Bitcoin story. It is a currency. A financial currency like money. 99% of all the other cryptos are not financial currencies at all. They are applications. Like the apps on your phone. Crypto concepts are the next generation of apps. Each has coins, but you can’t spend those coins in shops like Bitcoins. They are at this stage, more of a way to raise money for each crypto company and act as a store of value representing that companies progress and profits. Because there are no shares in cryptocurrency companies, each coin is like a share. Unlike Google or Apple that sell shares of those companies, cryptos sell coins. As the value of the company goes up so does the price of the coins, just like the value of shares in companies rises in relation to the profits each company makes. The coins are used in other ways in each cryptos ecosystem but in essence that’s their main purpose at this point in time.
Starting a company as a crypto is far cheaper and much easier than starting a public company on a stock exchange. That’s another process which has been bogged down by govt regulations, costs, untimely due process and ineffective policies, that has now changed. Once a crypto wants to become a public company like Google, and like my favourite social entrepreneurs, Phaeton Technology is about to become, being listed on the NASDAQ stock exchange in the US soon (YAY), it gives new enterprises a much easier and quicker way to get a new idea, product or service into being. That’s another good thing.
What some of the other thousands of cryptos appearing can do is digitize anything, even physical things like assets such as property. The tokenization of real estate has now begun. This is one of the things Phaeton, along with ten other massive conceptual changes they’re going to turn the entire world upside down on it’s head, is doing right now. Phaeton is about to change the world. Seriously! Putting that aside, if we want to invest into property now, we need to buy an entire house for example.
That’s a big risk, a big cost, a big everything, so most people just can’t invest any money into property. So what if we turn a house worth a million dollars into one million one dollar digital crypto tokens and list them on an exchange like a stock exchange. This will allow anyone to log on and buy the whole million, ten thousand, or even a hundred tokens. Hell, you could buy one token. You can invest one dollar into property right now.
The transaction is instant, it’s done, it’s over, and you now own x amount of that property as part of your investment portfolio as simple as paying a bill online. If you want to get out, you simply sell them in thirty seconds the same way you bought them. So anyone can move into and out of the investment property market at will 24/7. This is a wonderful thing. Real estate is just the start. Any physical or digital asset can and will be digitized into crypto tokens so anyone can invest into anything at any time and from anywhere in the world there is cell phone coverage. This is amazing.
Now the only way that can happen safely, and absolutely, is because the crypto tokens and coins are running on what’s called a blockchain. And this is what Phaeton is. They are a blockchain. A public blockchain like Ethereum, that can and will have millions of entities running on it with zero congestion to transaction efficiency. Phaeton is perhaps the worlds most powerful and fastest blockchain ever created. It can process a million transactions per block, with a block creation time of one second. In fact, the more entities that are using the Phaeton chain, the faster the transaction speeds become. To give you an idea Visa can process around 23,000 transactions a second. Visa also takes a large fee for that privilege of using their network.
We don’t need Visa anymore, PayPal, banks, governments, institutions, corporations, etc, anymore. They are all HISTORY in their currency format. Any company that takes a fee from us for doing something is GONE! They are dead men walking. Don’t need them anymore. Lawyers, real estate agents, investment managers, conveyances, accountants etc. they are all FINISHED. With crypto transactions being done directly between buyer and seller (via an exchange) and thru our smart phones, all those fee charging third parties will be eliminated from the process forever. The whole act of doing things will be simplified to nothing more than buying or selling something from your smart phone. Those middlemen have in reality, become redundant. They just don’t know it yet. We can now buy and sell anything we want when we want to. It’s that simple.
What cryptocurrencies allow is direct transactions at a bare minimum of cost. Less than a cent for any transaction. A fraction of a cent. This is HUGE. This is the future and this is what cryptocurrencies running on blockchain networks now allow us to do and this is how cryptos are about to change the way every one of us will do everything.
The last thing you need to understand is what a blockchain is. It’s an immutable ledger that records transactions, and also a network, a platform for businesses to run on, like Windows or Android. Blockchains are a platform for business applications to operate from with everything that each business does being recorded into invisible blocks of information. Not just financial transactions. Orders, directives, plans, budgets, hours worked, employee details, anything can be recorded onto a blockchain as a transaction. And anyone can see what’s been recorded.
Picture a cube that can record and store up to a million separate transactions. When that block is full, it attaches itself to the last block forming a chain of information blocks that build vertically. Hence the name, blockchain. Block positions are measured as block height numbers. So picture a chain of invisible cubes full of information building toward the sky. Once anything is put onto a blockchain it cannot be removed, changed or copied. It becomes absolute for the life of that blockchain. Forever.
The problem with current technology our information is stored on is that it is accessible by those companies and anyone else with nefarious objectives. The companies who have that information actually claim to “own” our information. Try and get your full information record from Social Security. the taxation department, hospitals, governments, Google, Microsoft, Apple and any company that collects and stores our information. They not only claim our personal information is theirs, they won’t even let us see that information they have complied on us. The way I see this, who the hell are they to claim that our personal information is theirs to know, keep, store, use and then deny us access to?
Blockchains, or most of them, are public and transparent. This means they may have our information, but we can see exactly what it is they have compiled on us and we must give them permission to use it. For these organisations to enforce this injustice on us is such an insult to our freedom. Who are they to deny us our own information? This is wrong. So wrong. You try and get what any corporation has on us from them. They will fight us tooth and nail to deny us access to it. And of course, the government will back their claim up. This is about to change.
Now, the big one. All of us have heard of companies like Visa, Mastercard, Netflix, American express, Google etc, being hacked and millions of customers credit card details being stolen to then be sold into the criminal world for those criminals to then try and steel our money, our identity, our privacy, our lives. If this happens to any of us we are seriously inconvenienced. Totally stuffed. But what happens to the owners or board members who control these centralized companies? Does the CEO or the entire board for that matter go to jail for twenty years? Does anything happen to them at all? No. They simply claim it’s just par for the course and nothing happens to anyone responsible for the most important and critical details of our finances being stolen. Seriously! Twenty million customer details are stolen and NOTHING happens to anyone. I’m sorry but this is simply unacceptable. It needs to change and it will and it is. This is critical to understanding what cryptos and blockchains have been created for.
So we, the people gain not just partial, but complete control over all our information and also how companies we work for will become completely transparent. Anyone will be able to see everything any company is doing all of the time. No more secrets. Blockchains unlock those secrets and this is a good thing. It’s an awesome thing. What is happening right now, and what Phaeton Technology is doing, is changing the world for the better. This is handing everything back to the people and taking it away from companies, governments, and any entity that uses and abuses everything about us.
What happens when this information is stored on a blockchain, means it cannot be stolen, used without our consent, copied, removed or altered in any way. If and when Google, Visa and the likes do move to blockchain technology to store our most private information and credit details on, they cannot use it, sell it, have it stolen, hide it from us, or anything detrimental to us in any way. Once information is stored on a blockchain, it is absolute and 100% safe. Viruses cannot simply travel up onto blockchains. Neither can hackers. Blockchains are the next generation of secure information storage and delivery.
Technology is great but it’s got some serious issues in it’s current form. Things need to change and blockchain technology is that solution. It is technology 2.0. We have moved into the 21st century and everything from last century needs to be adapted to this new century and coming centuries. This is not a fad. This is the future of technology for the next hundreds of years. Cryptos on blockchains is how this change will come about.
Oh yeh, to make a lot of money by investing into cryptos, all you need to do is kick an amount of money into the right one at the earliest stage of it’s existence. The dozen or more friends of mine who have recently invested into Phaeton, will twenty times, or maybe fifty times or more their investment. Because I kicked a chunk into Phaeton over three years ago close to it’s inception, I’m already up twenty times, so when you guys are up fifty times, I’ll be up a thousand times my investment. That’s how you do it.
So although this is just an overview of what cryptos and blockchains are, it is all you need to know to understand what is going on right now and why there is no going back. This is all good. So my friends, welcome to the future.