I have been watching Crypto Currency from its infancy, a few years after the internet became prevalent with Wei Dai and "b-money". I am not a programmer, though I wish I new more languages. I have been informing my family of the possibilities of #cypto money and blockchain technology. I am here today to introduce the TTrust Network...The Tarrant...which is a work in progress by YOU, the community.
It started with my Brother who is a Broker is Southern California, worked my way to my Father In Law retired and now my Wife...who doesnt believe...33 Cents USD will make her a believer and YOU a LEADER and YOU CHOOSE YOUR SUPER POWER https://icostart.com/Coin/TRNT
We need and want a P2P Exchange Revolution. If you walk down the street 90% of people do not know what bitcoin is or even worth. The first #crypto to make it easy for the users instead of the developers will Revolutionize and Mainstream #crypto and digital currencies and assets.
This will start in Tarrant County, TX USA and work its way out to the entire world. BACKGROUND
The Coinage Act or the Mint Act, passed by the United States Congress on April 2, 1792, established the United States Mint and regulated the coinage of the United States.
In 1900, with the passage of the Gold Standard Act, a value of currency was created, defined in terms of gold, for which the currency could be exchanged. This was revised in March 1968, the effort to control the private market price of gold was abandoned and a two-tier system began. In this system all central-bank transactions in gold were insulated from the free market price.
So in 1971, President Richard Nixon unilaterally ordered the cancellation of the direct convertibility of the United States dollar to gold. This act was known as the Nixon Shock. Shortly thereafter the first US Patents for the ATMs were granted in 1972 and 1973.
Then in 1974, The National Automated Clearing House Association (NACHA) was established by several U.S. regional clearing houses, the entities that facilitate money transfers between financial institutions. ACH was essentially an agreement among these organizations to streamline the process of clearing funds for transfer. The NACHA now estimates that $40 trillion per year passes through the ACH Network. So making a paperless payment to your electric company, for instance, involves electronic transactions between you and your bank, the electric company and its bank, and the two banks and one of two ACH Operators which clear the transaction with the process lasting from 1-2 days.
In 2009 Satoshi Nakamoto wrote , “What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” Bitcoin and the Blockchain was created. Bitcoin uses a ledger called the Block chain, from where blockchain technology got its name. Bitcoin was just the first of many potential applications of blockchain technology.
Fast forward Seven years after the blockchain was invented, there is a shift in focus on how we can apply this technology. Previously, the discussion had focused on the cryptocurrency Bitcoin. The attention has shifted more towards the core elements of the blockchain itself and how its nature as a distributed ledger for transactions could be leveraged.
Blockchain technology was first developed to provide an alternative approach to payments, by using cryptographic methods to provide an alternative trust between two transacting parties. Financial institutions are developing in-house solutions, or forming partnerships as you read this document.
The core of this innovation is built around the concept of a distributed consensus ledger, where the ledger is kept and maintained on a distributed network of computers. This ledger makes it possible for the entire network to jointly create, evolve and keep track of one immutable history of transactions or other outcomes, and it is today most commonly known as "the blockchain".
The blockchain is a global distributed ledger, which facilitates the movement of assets across the world in seconds, with only a minimal transaction fee. These assets can be any type of value, as long as they can be represented digitally. Up until Bitcoin and its distributed ledger was invented, digital currencies were seen as unfeasible due to the easiness of coping digital information. This is know as the “double-spend” problem where each transaction carries a risk of the holder sending a copy of the digital coin to the merchant while retaining the original. The traditional way of mitigating this risk has been to have a trusted third party, such as a bank, to act as a centralized authority keeping track of all transactions. Bitcoin has shifted this responsibility to a whole network. To exchange ownership of a digital coin, a centralized database is no longer required. Instead, a distributed ledger keeps a history of all transactions, and requires validation from its users to verify each change of ownership.
How much Money is there? Perspective…Funds invested in derivatives alone total $1.2 quadrillion.
This is what a quadrillion looks like written out: 1,000,000,000,000,000.
$Money Dollars USD - There was approximately $1.45 trillion in circulation as of April 6, 2016, of which $1.4 trillion was in Federal Reserve notes.
Bitcoin BTC XBT – There will only ever be 21 Million in existence…EVER
Enter - TTrust Network. The Tarrant. The Republic. A Cloud Bluetooth Peer to Peer Communication Exchange Network - Your Vault…Imagine a world where songs or movies could no longer be copied and distributed illegally or pirated. Where currency exchanges between banks happened instantaneously, instead of days. That time is now. USER - Simply start by downloading app from google play or other app vendors…Enter your information, which will give you an online score based on parameters that is set by the network. Your identity is created and in the process the user creates a unique coin for themselves or family or organization or government. By using and running this application on your phone or device the user will be an “earner” of the coin created or the currency of the network, The Tarrant.
Since Bitcoin's inception, the worth of the coin has been up and down and then in 2014, 2nd generation of crypto currencies appeared, like Monero, Ethereum and Nxt. They have stealth addresses, smart contracts, side chains and/or assets.
I see 'us"... you and me, as being part of the third generation of crypto currencies, where the worth of the coin depends on the holder.
Take this for an example...When I graduated College in 1999, I worked as an extra on the set of The Adventures of Rocky & Bullwinkle movie. I was paid a SAG salary for the day of $97 USD...for that day I was worth $97...fast forward to today...it is Tuesday and I am a salaried employee that gets paid $75,000 a year, so today I will make $281...for today I am worth $281. Was I worth the same in 1999 as I am in 2017? NO WAY!
In comes the Tarrant. Some crypto currencies are backed by nothing, others by gold or even fiat...the Tarrant is backed by the working man.
1 Tarrant = A Full Day's Work - 8am-5pm With Lunch Break...From Digging Ditches to Sewing Stitches..From Coding Software to Passing Laws
The Tarrant will be the base line coin that will create a network of coins, Part of TTrust...each owner or purchaser of any Tarrants will have their own coin, node & blockchain created. They will be given a rating similar to a FICO score, which will give their own coin its value to the Tarrant. There are many things to come with this network. Think of Mining as Earning, and it will be as easy as having your iphone or samsung running the app.
Sincerely,
ARM Moran - Founder - Community Manager - Teacher
Leader of The TTrusted League - TRUST.CHURCH
http://ttrust.online