Bitcoin in Space!

“You can’t ask people to boycott a system without offering something for them to use instead.”
– Colin Cantrell

--It’s Day One of the Nexus Conference here in the incredibly beautiful Aspen, CO.

It’s understandable if you’ve never heard of Nexus. It’s one cryptocurrency that’s kept a relatively low profile.

What I’ve learned thus far is from actively seeking the information out. Meaning, there’s very little hype surrounding it — just a lot of focus on the tech and the vision. And it certainly hasn’t worried about getting “dap” from the likes of Floyd Mayweather, Paris Hilton or Dennis Rodman.

That said, I’ve been nibbling at the edges of for a while — scoping out the team, the tech (to the best of my abilities), the commitment and the vision. Which is why I was happy to see they were having a conference. And even more happy to see the line-up.

Just a taste:

Colin Cantrell – Founder of Nexus
Roger Ver – One of the earliest adopters/investors in Bitcoin
Dave North – CEO of Sedgwick (The world’s largest insurance service provider)
Peter Schiff – CNBC contributor
Doug Casey – Founder Casey research
Jeff Berwick – Founder of The Dollar Vigilante
Flip Filipowski – Futurist / Tech Entrepreneur
G Edward Griffin – Writer of “The Creature from Jekyll Island”
Dr. Patrick M. Byrne – Founder of Overstock.com
Ron Paul – Former Congressman & Presidential Candidate
Jesse Ventura – Former Governor & TV Personality
Dennis Kucinich – Former Congressman & Presidential Candidate
Jim Cantrell – CEO Vector Space Systems
Max Keiser – Host of the Keiser Report on RT

And here are the quick nuts and bolts of what I’ve gathered about Nexus, of which I’ll go into more detail in future episodes:

1] Unlike the vast, vast (did I mention vast?) majority of the coins in the cryptosphere, Nexus is not just a copycat — it was, indeed, inspired by Satoshi’s whitepaper and then built from the ground up by its founder, Colin Cantrell. Not copied and pasted.

2] Nexus uses some of the strongest known cryptography in the industry (SHA-3). Nexus is also designed with the advent of quantum computing in mind, making it the first truly quantum-resistant cryptocurrencies.  (Far stronger than Bitcoin’s SHA-256)

3] The  barriers of entry to “mine” Nexus are tiny. You don’t need to buy a bunch of expensive equipment. You need only to set up a wallet, fill it with your coins (whether you have 100 or 100,000, doesn’t matter) and “stake” the coins (and, in the process, lend some processing power to help secure the network). You can set it and forget about it, and get paid in Nexus for helping to secure the network.

4] Nexus has three ways to produce valid Nexus blocks, whereas Bitcoin only has one.  This helps to diversify the risk of what’s called a “51% attack.” Since Bitcoin runs on consensus, it is hypothetically possible for an entity or group, if it gains 51% hashing power over the network, to control the network by preventing future transactions and maybe even revising recent transaction history.  This is exacerbated by the fact that ALL “votes” are taking place through one mining channel. If 51% say “yes” on that channel, boom, it’s so.

With Nexus, on the other hand, there are three channels (GPU mining, CPU mining and Proof of Stake). Meaning, the attacker would need to control 51% of the power on ALL three channels simultaneously.

5] Colin’s dad, Jim Cantrell, is former co-founder of SpaceX. Cantrell left SpaceX to start his own rocket company, called Vector Space Systems. One vision for VSS is to launch cube satellites in space, creating a borderless, decentralized payment network/Internet, untethered by the often fickle infrastructure on Earth, powered by Nexus.

And more…

Again, we’ll bring you all the details on Nexus, and much more happening here in Aspen, in the coming days.

Until then, we invite Nexus team member Keith Smith to the show.

Below, Smith’s going to rap about freedom’s final frontier — Bitcoin in space!

Read on.


Bitcoins in Space!

By Keith Smith

 

The world’s population has broken the 7 billion person milestone. Out of those people, an estimated 6 billion people currently have access to cellphones. To put that into perspective, only 4.5 billion of those people have access to toilets. These cell phones, combined with the use of decentralized and inexpensive cube satellites, will make it possible for all the people on earth to have access to currency.

Bitcoin in space is not a new idea. It is an idea that graced the minds of brilliant men who first fell upon cryptocurrency technology.

The idea is that Bitcoin, other cryptocurrencies and networks in space can be broadcast everywhere on earth. Using decentralized cube satellites to broadcast the blockchain and even a decentralized internet to populations who currently have no access or access is severely restricted.

Then on the ground, with the use of mesh networks, decentralized satellite up-link node stations all connected with point of sale devices and individual technology communication devices, the network will continue to decentralize and expand.

This idea is brilliant but no one has been able to make it come to a reality… Yet.

It’s an idea that Jeff Garzik (Core Bitcoin developer) attempted to bring alive with Dunvegan Space Systems. Mainly a one man mission with a passion, he was unable to attain the resources to make it happen. This has not stopped him or others within the community and outside to continue to push for a free and decentralized network.

Recently Elon Musk (Lead Founder of Space-X) requested permission from the FCC to allow for testing of high powered radio signals to earth from satellites meant to broadcast free WIFI to the world. Realistically, this project is still four years out in development. Not a main focus on decentralized economies and definitely not incorporating Blockchain financial tech…yet.

Then there is James Cantrell (another founder of Space-X and owner of Vector Space Systems) and his focus specifically on these said systems. Research and development by VSS has not been rushed but continues to press on in specifically the micro satellite and rocket launch system business. It is estimated that Vector space is years ahead of competitors in making this a reality.

So what does Vector Space systems have to do with Bitcoin and cryptocurrency?

Colin Cantrell. This is the son of Vector Space Systems CEO, James Cantrell. Colin is the lead developer (and many would argue a cryptocurrency genius) of the cryptocurrency project called Nexus. Nexus is being developed to be the strongest encrypted cryptocurrency on earth. Other focused developments with Nexus is building the infrastructure and foundation to allow for widespread adoption.

Such technologies as Lower Level Protocol, Lower Level Libraries, Variable Nexus Proof Of Stake Interest, Trust Keys with reputation, 571 bit encrypted private keys to prepare for quantum computing, three channels of mining and trust to prevent 51% attack, decentralized checkpoints, fast and decentralized clocks, decaying algorithms for a slow and less disturbing decay of distribution of supply compared to block halving, reserve systems for mining and more… All mostly coded from scratch.

Incorporated in the economic model of Nexus is checks and balances which will allow anyone to be rewarded for maintaining the network based on time and trust without a massive use of energy. This is important as this allows anyone in the world to enter marketplace compared to fiat and other cryptocurrencies which require a lot of money and power (mostly political). It is also important that as adoption gains momentum, you do not overburden the energy system to facilitate fast and efficient transactions and keep it affordable enough anyone can enter.

“Not everyone has money but everyone has time”
-Colin Cantrell

Colin and James are both currently working on the very foundations of building a decentralized economic network which has the capability to reach everyone and actually work. From the root of the code in Nexus to the thousands of satellites that will orbit earth broadcasting Light Fidelity (Li-Fi) of the blockchain to the whole world, the development produced this far is no small undertaking.

This is a game changing event. This is quite literally as big as the creation of the Internet but far more powerful. For the first time the people of the world will be within reach of truly decentralized banking, government and information.

We see each cryptocurrency add something new to the table when it comes to advancing blockchain technology and giving it real world use.

Take Steemit for example: a decentralized and political neutral algorithmic social media website which pays the idea makers over the infrastructure owners. Instead of publishers getting paid over authors, they cut the middleman out. Just like Bitcoin did with the banks. The idea that authors should be compensated voluntarily is so successful, some authors on Steemit have made more than many authors writing articles have in a whole year!

Some cryptocurrencies are fads, some are hype…

But some have real value and add to the value of Bitcoin.

Space is very similar to the laws of international waters. Anything goes and no one can regulate effectively. It’s truly a frontier looking to be conquered by mankind. Like any frontier, it offers freedom in exchange for exploration. Good luck regulating light.

What a perfect place for Bitcoin, something that needs space to grow, to grow… In space.

Nexus is not looking to replace Bitcoin. Nexus is looking to bring Bitcoin to the world with Nexus. Nexus means to link things together. To link Bitcoin with Nexus, Bitcoin with people and people with people.

Nexus is the next big thing. The Internet of the people, by the people and for the people. The We The People Network. Where a merchant can do business in Africa with a customer in China without the central banks or telecommunications industry being involved. Truly decentralized from the code to the satellite.

Some cryptocurrencies want to go to the moon. Nexus wants to bring crypto to earth. Nexus Earth. Will you join us?

[Ed. note: Keith is a web developer, retired contractor, podcast producer, video producer, GUI developer, manager, writer, and family man. He relatively recently shifted to working on Nexus full time. This article originally appeared on Keith’s Steemit page, right here at this link.]

Keith Smith
Team member, Nexus

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