The impertinent Japanese.

Chapter VII

The impertinent Japanese.

Certainly it is unknown what triggered all this digital frenzy in which we are immersed today. The truth is that in the mid-90s of the twentieth century and especially on the West coast of the large farm a group of enthusiastic goats which used to be very re-crazy and passionate about machines complex calculation developed the idea of avoiding censorship as well as the centralization imposed by the council of wolves from the farm. Seeing the potential of applications that these machines provide began to develop all kinds of applications (group of instructions that conditions the act of a machine and its users) to undertake the above. A fundamental theme in this period was the decentralization of money that means change the form of storage value and exchange so that It was not be the typical piece of paper with figures of wolves and illustrious pigs.

The above is directly against the advice of wolves, its assembly of the eternal and perverse credit as well as your model of society in which we are all the same until you run out of nothing. It is to be understood that such a movement did not fare very well due to casuistic factors (Divine pig) so they moved away from that which initially brought them together. Turning to focus more on other types of applications such as video games, multimedia content platform, systems instant messaging and others. Leaving aside the main pillar (the decentralization and flight of the democratic model kindly imposed by the wolves).

They had to spend some time and many other things until at the beginning of 2007 everything started again. This time a group of goats were determined to create a system of exchange of digital values decentralized and that could not be censored. Secretly (supposedly) it was modeled this new instrument until in the end of 2008 the first tests were carried out in open networks. Officially this was released on January 3, 2009, then he was known as Bitcoin (7).

The creature had a basic principle:

users will not be able to issue, modify or adulterate the accounting system since now each user or interested party has or can consult an exact copy of the accounting which is generated from automatically about every 10 minutes. This model is known as the ledger distributed, where each node (machine) has a copy of the whole set of operations, made in this way to alter that book would have to alter everything. Then they joined him another models and protocols, to date all this ecosystem is known as Block chain (8).

Some enthusiastic goats have promoted the idea that such a monster was the work of someone with a name and Japanese surname (Satoshi Nakamoto (9)). At first glance and if true, we would be facing the greatest altruistic contribution of all time, only comparable with the benefits provided by vaccines that to date have managed to eradicate many diseases that annihilated crowds of animals in times past. In other words, someone with a Japanese name created a system for us animals were freedom, happy and all this for free. That last part is the one that catches the attention because as we already know:

if something is free may be you are the product.

The hidden or little explained part of this issue is that the vast majority of sheep’s do not know how work all this ecosystem.

So let the goats explain, right?

OK, for this to work, several parts are required: the node (machine destined to process, distribute and store each transaction), the miners (set of machines dedicated to decipher and decompose complex chains (blocks)) and users (you). A complex chain is the product of the encryption or coding of simpler numbers to which they have applied a cryptographic method to obtain a bigger block which is resistant to attempts to modify and decrypt, this ensures the authenticity of said process mathematical. The miner looks for a nonce for this block, in this way once a block has been mined happens to be part of the accounting ecosystem adding value, is to say units to the ledger distributed. That is to say that at first when it was just started there were few units available (Bitcoin’s) since the highest percentage had not been mined yet. As they are mined more and more blocks increase the supply of units until you reach your last block.

This was created so that as the interest and adoption of this new system grow up of equal way more units were integrated into the block chain. Node operators perform its indexing task so that each transaction made is recorded in the registry or ledger and this in turn is shared with the rest of the nodes. That way each book knows how many transactions have been carried out to date as well as how many mine blocks exist and what is the number of blocks remaining. In the mining process each miner (can be a single machine or (cluster) set of machines)) receives a reward for that work of mining. This reward is given in units given to the miner for his work of calculation and deciphering the block in which was working. Given the mathematical complexity of this process, a mined block is usually not work of a single machine, therefore each miner who has participated in the mining of that block receives a reward proportional to the contribution of mining. The contribution of mining is not more than how much Calculation capacity contributes a machine or the set of machines owned by a miner. This Calculation capacity is called Hash-rate (10). Then the higher the calculation capacity, the greater the reward. To correct the problem of overproduction and therefore the term of the operation of mined blocks, the level of difficulty is corrected every so often (there are protocols, which adjust the complexity each new block and others every certain number of blocks, etc). Coupled with this, the reward for mining decreases.

In this way, the more blocks that have been mined, the less reward you get and more complex would be mining which increases the value of the unit and slows down its production Thus avoiding a surplus or excess of units since this would cause the price of the unit to drop even when it increased your demand. To more you think about this get, the brighter and more perfect this system seems to you!

It is the perfect model of regulation and emission decentralized monetary equilibrium.

Except that in this world, in which we already had time walk around, we have learned that if something seems too good almost never is. Such a complex and perfect system according to the "official" version is the work of an altruistic Japanese. Obviously no sheep’s and perhaps very few goats are able to develop something like this. Then the question that floats in the air is:

if it was not made by us, who was?

Only the wolves since the pigs are not really very smart at generating brilliant ideas they just serve to the power no matter who holds it. So this seems to be the work of wolves which you know they are not altruistic or perhaps something darker. Perhaps this is a technological singularity (11) produced by machines, which also has nothing altruistic because in their world such a thing no exists. Then such a thing would not be free and yes, surely we are once again the product.

We'll see...

You can read or download all text in: http://io-exchange.com

Good luck & Enjoy!

Azazel0101
</>