12/12/15

Blockchain 2.0 PROBLEM

gAto ThInkInG – BlockChain 2.0 contracts So the BlockChain is getting bigger, we now can store digital contracts. DC – Digital Contracts are nothing more than programs that can be executed. The beauty of these DC is they are encrypted with a private key of a Wallet and linked to a transaction.

ugh

ugh DC – Digital Contracts

So nobody can see what one contract is from another, oh did I mention that these programs could be a sort of DDOS- Digital Denial Of Service attack – Millions of transactions to one financial center all legit all at one time A bit weirder and different than HST High Speed Trading. – Wait a minute, so these DC-Digital Contracts stored in the BlockChain can add millions of these programs on the BlockChain and launch them with any trigger we choose, maybe the price of corn, gold, stocks or a date and Time.

Now you can see that a DC can do all sorts of things, think about it!!! You log into your bank account and you can check the balance and send out checks digitally. You can send your monthly checks for utilities and if the price of gold goes to a set value – your DC can automatically execute a buy order — all via a simple DC in any blockchain Bitcoin, LiteCoin even DogeCoin. We currently have lot’s of digital coins and they all have BlockChains – Bankers want to used closed BlockChain , were only a select few Banks own nodes.

These DC-Digital Contract stored in the block chain can now be triggered/executed via a date, a market condition or most any news event. As you can see this new technology of machine-to-machine consensus will give the new breed of financial people developing new financial tools a new way to think and execute any financial tool on the Internet. The BlockChain is just one part of the story that can activate anything electronically. These new BlockChain tool don’t lie or cheat, they can be verified by anyone but only controlled by the person with the right private key to decode that DC in the BlockChain.

The power and the value of the BlockChain is now more valuable since new contracts with digital gateways like Ripple and Bitcoins and others will reduce the cost of money exchange. Cha-Ching $$ The savings alone to transfer currencies on a worldwide scale makes bankers dream of new revenue streams they can create with these tools that are machine to machine consensus, no middle man to soak in the cost.

The Blockchain PROBLEM 2.0 

So now we can have 10,000 new contracts every 10 minutes inserted into any BlockChain, so what’s the problem here. Creating a DC with a transaction of-.02 pennies could trigger thousands or millions or billions of programs and effect million and billions of dollars too.

Example:

– let’s call it a large progressive BUY orders of any stock then in a few minutes, hours, days or weeks the DC can simply just turn off, crashing the markets and price except for the people who know when that’s going to happen. They are now in a good position to make a lot of money and almost impossible to trace in the BlockChain, to a wallet, to a transaction, to a geo-location, to a User times thousand or millions of times and events. It can be tracked actually but few understand how simple that part is.

My good friend asked so who checks if these programs can do Harm or Good in the BlockChain- the simple answer is nobody can and that’s the BIG PROBLEM with BlockChain 2.0. Secret Bot’s can now run loose and do all kind of things and as we add better gateways to other digital to human interfaces, the BlockChain 2.0 may be a real problem since today we have over 500 digital currencies each with it’s own BlockChain. Now Bankers want to add new CLOSED BlockChain members only Digital Contracts yes better security but they still have to interface with the real world and that’s how we can track them too. Your BlockChain may be PRIVATE but the contracts have to run in the real world protocols to be of any use.

BlockChain to Internet to digital physical execution of objects – turn off a pipeline damper in an oil refinery or divert a Rail-Road crossing – it can used as a failsafe way that if a person does not send an email to a set addresses to turn off things – things can happen remotely and this is were this problem becomes real big – Remote Digital Bombs and remote digital C&C -Command & Control.

The BlockChain genie is out of the bottle and there’s no turning back. BlockChain to Kinetic is a bigger problem that few have even started to think about the implications of this aspect. Yes there are many great things we can create with this new technology but others will try and uses this new BlockChain system for illegal crimes and that’s what we have to be aware of.

On the one side beware even a Closed System like our favorite bankers want can still be traced back to the source of the BlockChain and their IP addresses and such. The BlockChain and transactions all work the same way with all digital currencies so the other side of the Bitcoins is if you try and cheat this system, it will always point back to you – all BlockChain are not anonymous they are transparent – beware we can track you down too.

That will not stop the bad guys so be careful with these new BlockChain Digital Contracts they could contain a surprise – gAtO OuT.  

12/3/15

Blockchain 2.0 and the 4th Dimension

4D= Time-Space – // blockchain = Time/Data:

gAtO SaiD – I will meet your on the corner of 5th Ave and 42nd Street in NYC. As you can see this is an incomplete jexaposition in time and space because we as humans take it for granted that the basic request to meet at 5th and 42nd cannot happen between us unless we have a TIME factor to complete the human equation. Known mathematically as 4D Minkowski spacetime. We as humans don’t even think about time, we know it’s always working so we adjust our mindset to use it properly and function as a society.

The Blockchain simply stores data in time on the Public-Ledger. So now we go back to our meeting, if we all agree to meet and just publish the time on the blockchain – anyone that wants to go to that meeting just needs to look at the block were the data with the time is stored and it’s done- they now have the time of the meeting. The blockchain records the data that you want, like a contract or a deed to a house on the blockchain time stamped forever or until the Bitcoin network dies.

The Blockchain of the Bitcoin fame and other blockchains ( LiteCoin – DogeCoin…etc ) does nothing but publishes data based on time and the transactions data on a global database (public Ledger) all done with machine to machine crypto-consensus.  You have different people in this value transfer network that play with the coin and some people just want to mine the coins and the new ones want the stored data in the blockchain as the real value.

The division of labor is the beauty of this system the miners are all working for the 10 minute price of 25 BTC. The winning Miner of the calculation based on hashing power now had to process the transactions in order to get the 25 BTC. All they care about is the size of the transactions since this is the limit on the size of data you can store in the Blockchain, BitcoinXT addresses this issue – But Bitcion_XT that’s another issue  for a later article.

So now I want to sell gold and publish the time/price @$1,200 per ounce. So anyone can now look at the blockchain and see your buy order – no middle-man – buy/sell all machine to machine executed. the transactions are non-reversible – when I change my next buy order – it will once again be available everywhere globally. Illuminates the cheaters so they can’t cheat the blockchain data.

I was hired to do an analysis of the blockchain replacing the Bond Market – just in settlements of Bonds a Blockchain system would eliminate errors and the savings from all those middle-man managers in the bond market would save billions of dollars and that’s just one small spot of the financial industrial complex. Today we hear talk about Bankers putting together a private blockchain to store their data and use the 2.0 contracts in a controlled way. As a regulatory tools in the financial tools  worldwide a blockchain solution would eliminate so much waste and errors saving money also adding accountability so nobody can cheat.

Adding the 4th Dimension (Time) to Blockchian 2.0 contracts to this would allow you do draft payments to your loved ones after your long gone, automatically moving currencies,stocks or Bonds from one ownership to another. We could write contracts that read the price of Gold and execute buy and sell orders all machine-to-machine 100% accountability and available to you only (via your wallet ID /PrivateKey).

4th dimension T&T Time and Transactions are the key to all blockchains systems, this is the key to the value network called the blockchain 2.0 were the real wealth is in the knowledge of the transactions.  gAtO oUT

08/19/15

BlockChain 2.0 and Bitcoin XT – 2.0 intelligent contracts

BlockChain 2.0 and Bitcoin XT

gAtO think – 2 of the main core Bitcoin developers Mike and Gavin did the best thing by for Bitcoin by simply making the blockchain bigger so it can support more transaction, contracts and un-developed new apps like 2.0 intelligent contracts that will make the BLockchain more valuable than the coin BTC. Today Blocks only allow 1mb Bitcoins XT makes the blockchain allow 8mb in the same block.

Why is this so important :bitcoin-gollum

Every transaction has to be verified by miners so they become valid in the BLock. Transactions vary in size depending on how many input’s and and how many outputs. Example: I send  a simple .01 BTC to Jane, this is a simple transactions and may have 1 or 2 inputs and and 2 outputs minimum – 1 -Output to Jane and 1 Output as change back to my wallet – maybe 1k in memory size-

Now take a Pool-Miner transaction they just won the block and get’s 25 coins but they have to pay hundreds of thousand of Pool-miners – this transaction may be 50k or larger –

The blockchain protocol only allowed to have a MAX of 1MB of transactions – anything over that goes into the temporary pool and they become the first in line for the NEXT BLOCK – 1MB limits. So if you have a bunch of small private Jane to gAtO individual Transactions you can fit a bunch of those into a 1MB BLOCK- But when you have a bunch of Mining Pools Transactions the 1MB BLOCK get’s filled fast. This delays transactions verified for the NEXT BLOCK.

Bitcoin XT gives the blockchain to 8mb BLOCK size instead of 1MB so a lot more transactions will be process in every BLOCK – This will guarantee less transactions will be delayed and since we have more room we can add Contacts and other stuff in the BLockChain –

This is why it is the best deal around for everyone – except the miners, they will need more memory in their mining rigs to hold a bigger block size of 8MB. Memory is cheap and yes the block size will increased but it will give a NEXT generation of Bitcoin tools available to everyone and that’s COOL BEANS.

The Basic War that’s going on with the new Fork and the 5 major Core Developers-

Let’s not make Bitcoin better and stay stale or let’s take it to the next level Mike Gavin gAtO is %100 behind Bitcoin XT. rOcK tHe KaSbAr

I know the arguments but all technology grows and we have to change and make it better for the new users that want to do Bitcoin 2.0 stuff real easy – I can’t wait to start to re-code my HD-BIP32 Business wallet with 2.0 intelligent contracts – again in this new Bitcoin XT – gATo OuT

05/17/14

Bitcoin 2.0 and the Segway Bike

Bitcoin 2.0 and the Segway Bike

gAtO Imagine – some of the business side applications we can build with future triggered events being executed by Autonomous Cyber Robots. All build on the basic Bitcoin 1.0 code but not using the coins but the blockchain – there be treasure in that blockchain but it’s all math ugh!!!.

segway_bike_Bitcoin

Ok first what is Bitcoin 2.0? Basically it’s a new way to have a cyber robot or a cyber drone that can do what you instruct them to do. It is a timestamp triggered event and you can now just add business rules to it that will work in cyberspace.

What do you do online today?

  • Shop for things and have them delivered
  • Online banking
  • Buy and sell stocks and bonds
  • Send donations to Charities or political organizations

So now you can build cyber-business rules to be execute on the web and put them into one of these cyber robot or a cyber drone. I use these 2 terms because when people hear drones they think attacks and such and yes you can now build digital FINANCIAL  warriors that can execute based on events, millions of them and they can be used for good and evil.

timeStamp- or -blockchain-trigger event – robots with business rules- example//

  • Send 100 Bitcoins to my family every 6 months after I die.
  • Buy or sell stocks ambiguously  – Digital Business Contracts – or Personalities
  • Any transaction that can be performed on the web!
  • Set up a corporation by an Ethereum digital actors
  • Any Business rule that can executed digitally 

gAtO lOvE Ethereum //= it is a platform and a programming language that makes it possible for any developer to build and publish next-generation distributed applications. https://www.ethereum.org/  Next Generation Smart Contracts and a Decentralize Application Platform. Non-geek cyber-business rules OK…

GAtO used to lug around an Osborne luggable computer… 1.0 laptops – but gAtO was cool aligning 10MB (yes 10 Mega Bytes) hard rives the size of a large home freezer. The good old computers days… Out of hardware back to Biz -mEoW

MasterCoin – The Master Protocol facilitates the creation and trading of smart properties and user currencies as well as other types of smart contracts. Mastercoins serve as the binding between bitcoins (BTC), smart properties and smart contracts created on top of the Mastercoin Protocol. Non-geek cyber-business rules OK…

Similar Alt-coins but both the same (going after the business side) in a way but these seem to be a new wave of Bitcoin 1.0 off shoots. Now NameCoin and Trusted coin are on a different course, since they are more into the digital Notary service that can be done with any blockchain type Bitcoin off shoot. And LiteCoin 84 Million -versus- 21 Million in Bitcoins another fight but of a different financial play on this alt-coin. LiteCoin is around $10 bucks Per so we have to keep an I on them too.

Once again these another development are being built on the shoulder of the great Satoshi Nakamoto work. GaTo as a technologist love all these new and exciting toys to play with. Then I think about the Segway Bike I alway wanted one but then again really, I’m I really ready to give up walking? Back in 2001 it was so cool, it was the evolution of the bicycle or was it???

13 years later this evolution the revolution of the bicycle is seem by most as the Mall Police ride by. Ok maybe in Seattle or San Francisco I can see that but really. Now Bicycle Cops are everywhere but real cops on a Serway Bike – you know maybe I don’t really want one anymore. But I wonder if I can buy one with Bitcoins? ummm

DogE-Coin is hot with the young bloods as a NEW digital currency that’s taking Reddit and other places by storm- I know gAtOCoin, maybe I’ll start one of my own, there only about 500 Alt-Coins around and growing all built on the Bitcoin core code. Bitcoin is only 5 Years Old -Wow- Imagine in another 3-5 years // world wide currencies all over doing different things creating the NEW Cyber-System D-(system) that no government can controls, of the people and by the people. Double -Wow

gAtO’s bet is on Bitcoin, simple it has payed it’s dues, from an underground play toy to International financial deals like flying to the Moon on Virgin Air, I wonder if I can buy that with Litecoins- you listening Richard Branson I’m mining Namecoin too Richard.

The new Bitcoin business Investors and Incubators are hopping with new Bitcoin 2.0 ideas, but is it different if it’s control by the users, not the sole players like the bankers and older financial players. But truth be told these will bring newer workable solutions that will trickle down to the normal person. We must be careful because these new worldwide cyber solution will have little government controls so the game is changing and the ability to jump on this but NOT to give up privacy with government toys like TPM – Trusted Computer Platform – yes July 2015 all Windows 8 devices will have TPM 2.0 in control of your devices. The US solution cyber Kill Switch.

AT least Apple has not added TPM into it’s hardware but they banned against Bitcoin -Steve told you to Innovate Apple- But that’s another battle.

You can trust your government spying on you IF you have nothing to hide RIGHT!!! – gAtO oUt

Digital System D

System D is a slang phrase pirated from French-speaking Africa and the Caribbean. The French have a word that they often use to describe particularly effective and motivated people. They call them débrouillards. To say a man is a débrouillard is to tell people how resourceful and ingenious he is. The former French colonies have sculpted this word to their own social and economic reality. They say that inventive, self-starting, entrepreneurial merchants who are doing business on their own, without registering or being regulated by the bureaucracy and, for the most part, without paying taxes, are part of “l’economie de la débrouillardise.” Or, sweetened for street use, “Systeme D.” This essentially translates as the ingenuity economy, the economy of improvisation and self-reliance, the do-it-yourself, or DIY, economy.

 

10/30/12

What is Digital Currency:

What is fiat currency:  — Fiat money is money that derives its value from government regulation or law.  —

What is Currency: —  In economics, currency is a generally accepted medium of exchange. —

What is Digital Currency: — 

gAtO cOnFuSeD – with the above definition currency and fiat currency it’s a bit confusing were does Digital currency fit in. I think it’s how you look at it – Today we have Internet banks – that would be digital currency because it’s only in digital form – We also have PayPal one of the leaders in digital currency but both are tied to fiat currency– a government. 

Now when you add E-gold, Liberty Reserves, Pencunix or WebMoney these are a mix of traditional fiat and plain old fashion currency – But when you add BitCoin well that throws a shoe into the jet engine. You see unlike e-gold Bitcoin is not tied to real gold. Bitcoin is defined as a currency but not fiat and that’s the part that really hurts governments and bankers.

I know gAtO is lOcO but it seems that every time a digital currency like e-gold get’s close even when they try to do it right – the good guy’s (governments) come in and stomp on it till it’s a puddle of mud in the ground, next digital currency come on in– get in line, next… Ok e-gold made it too easy to get an account and the bad guy’s got hip to it and ruined it for everyone but the FBI was out to get e-gold from the start. We just can’t have joe-blow in a basement with a e-gold account and the IRS, TAX people not wanting a piece of that action.

Bitcoins are being blamed as EVIL – but Swiss Banks account, Bermuda Shell Games, Luxemboug Shelter, The Cayman Cash or IRA tax-free, tax-exempt, lower Tax rates- tax-free trust – there are all kinds of tricks for the bankers to shelter their money. To hide it they know all the tax codes, all the regulations…and they are very happy.

If we go to Bitcoin or a version of a digital currency that has no -governments, no bankers, and no printing press to go Bitcoin printing making Happy—/ every ounce of pressure will be put on every new digital currencies that do not tie to the BANKS…. they will not allow it.. Who are THEY…you know??? -next Digital Money Laundry -gAtO oUt