Reegan’s Blockchain Jouney #4 – Blockchain Technology – By Reegan Lessie

In this video I talk about what Blockchain Technology – Thank you for watching my videos, I am a small business owner living in San Diego, California. Follow my journey as I learn about everything Cryptocurrency and share my insights with you in my own words. My goal is to learn the basics needed in Cryptocurrency to create a plan for financial freedom. ( with all due respect, please excuse me for completely pronouncing Satoshi Nakamoto’s name incorrectly)

I’m here in San Diego, California talking about everything Cryptocurrency Welcome!

So full disclosure, I am a full-time yoga instructor here in San Diego, California

I own my own yoga studio as well as a coffee shop.

Tai and his team have asked me to create these videos for you to share my journey into the cryptocurrency world.

In my own words, today’s subject is on blockchain technology. Blockchain is kind of a fancy way of saying that it is a distributed public ledger, so this was a big issue in cryptocurrency. Satoshi Nakamoto was not the first person to think up cryptocurrency.

Let’s talk about these words for a moment Cryptographic. So Crypto means concealed or secret and the graph is a style of writing or drawing and then when we say Cryptocurrency is just an electronic currency running through the internet.

Let’s make these words understandable just by breaking them down into definitions so Cryptocurrency

Like I said, Satoshi Nakamoto, he was the first person to actually deal with a big

issue in the cryptocurrency world. And that was double spending, so there was no stopping somebody from sending you a dollar and then just copying and sending that dollar.

To let’s say like 5 more people but with creating a public ledger in Bitcoin. It’s called a blockchain this allowed for us to lend legitimize these transactions.

So just like your current bank account, your money goes in money, goes out and then the balance is reflected and seeing with this blockchain ledger. It’s public so if anybody can go look at it, you can look online and see these all the transactions with Bitcoin going in and going out and with it.

What’s happening there or how that Bitcoin is being trans that transactions are being made and every 10 minutes all of these transactions are then recorded into a block or into this blockchain.

So then excuse me the block and then that whole block is copied and then whatever transactions are being made in the next 10 minutes are also reflective on that block and then so on and so forth so that’s how this these blocks of recordings are chained together and

So like I said this really legitimized the transactions we talked in the past video about Bitcoin miners or cryptocurrency miners in general and how these people the  currency is actually distributed through the miners and

There is this peer-to-peer network this public ledger that these miners are going and legitimizing these transactions, so this was a huge problem. Like I said that was solved through a specifically Bitcoin and the public ledger.

The ledger’s being distributed through the public, so anybody could go look at it and this really is different than what we’ve seen in the past with the legacy banking system which really is controlled by the 1%.

So in the past government banks, they did not make their ledger’s public. And so they had the full right to know when they wanted to print and create their money and their currency and where they wanted to distribute it.

And this really allows for us to have this suppression of the 99%. The 99% do not have control over the ledgers of banks, they can’t see what’s going on with the 1%.

In fact, this third-party bank holding our money is actually you know takes a lot of.  Hey, charge you a lot of fees to move money around and things like that, so thanks in the past have always been centralized.

Centralized is an under a single authority and we can understand this like an Encyclopedia in the past when I was a kid if I wanted to look something up the Internet was so new that I would pull out my encyclopedia.

And I looked it up and the encyclopedia people the people that wrote these books, they hired a small group of people to come up with the information that was

written in these books.

So this was centralized and then as we move into this cryptocurrency world and again that centralized has to do with what our current banking system is like. But when we go into cryptocurrency it becomes decentralized so we move away from a single administrative center to in 2 other locations and

That’s usually grabby granting a little bit of self-government so when you think of like Wikipedia. Nowadays when you go and want to look something up most likely you’re looking on Wikipedia.

Last I checked there’s like hundreds of thousands of contributors to Wikipedia and we have to be careful sometimes that information can be a little bit skewed. But because there are so many people involved and watching over it a lot of times if that information is skewed it gets called out and it gets corrected.

So the common theme with decentralized information and distributed public ledger is trust and the quote I looked up today was by the Dalai Lama.

I thought that this really resonated with this subject of transparency this transparent ledger that is created that by Satoshi Nakamoto.

So that we could actually legitimize these transactions and so my quote today is a lack of transparency results in distrust and a deep sense of insecurity.

Because this ledger becomes public it allows for everybody to see what’s going on it allows for this these transactions to be legitimized and because it is a peer-to-peer network it is the currency the legitimizing of these transactions is distributed through the minor.

So because the miners are taking this time energy and money to legitimize these transactions, they are actually getting paid in that cryptocurrency. So don’t confuse yourself with these big words just remember.

When it’s when you hear blockchain this is a distributed public ledger this is where anybody can see the transactions being made so hopefully that gives you a little more understanding of what blockchain technology is another little aspect.

To my videos, I’m gonna be talking about ways that you can reduce your stress and

find ways to find peace of mind. So in our last video, I asked you just to simply focus in on your breathing and recognize that when you breathe through your mouth, you create a fight-flight response to the brain but when you breathe through your nose, you create a calming, a calming response to the brain and the central nervous system.

So today I’d like to just go a little bit further with that again I’d like you to just focus on on your beating today just when you have 1 minute or 2 minutes take a moment and see that you are closing your mouths and breathing specifically through the nose. And then just take a minute you can even set a timer on your phone and focus in on your breathing just notice the breath.

I’m not asking you here to create a deeper breath or to create a certain style of breathing but just simply focus on your breathing. And your mind might wander into the past or you might start looking to the future and if that happens in that minute.

Come back to the focus and attention on your breath notice the subtleties notice how it feels notice how your skin feels, how the air feels coming in the oxygen, coming in and as you exhale, how it feels coming out and just become more sensitive to your breathing.

Take just 1 minute and give yourself that time to create that calming effect that calming sense of calming by closing the mouth and breathing through the nose.

I wish you a great day, thank you so much for your support and for watching these videos. I want to give a special thanks to the Cryptocurrency Market team for all of your support and encouragement.

I’m really excited about this journey and I look forward to spending more time with you all have a great rest of your day take good care of bite.

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