https://i.imgur.com/qRFkc3d.jpghttp://ascendcoin.com/We want to introduce ourselves, and our coin project.
First a little about us! We have been very enthusiastic about Bitcoin since we heard of it. We were part of the big MIT bitcoin experiment, where they gave students bitcoin at the start of the year to see what would happen. You probably read about it in the papers. Well, we spent our Bitcoin on beer that first weekend after they gave it out.
But then later that winter, we found out how smart we actually were, because BTC went down, and some guys we ran into had gotten only about half as much beer as we did for their BTC. This made us realize that Bitcoin - as revolutionary as it was - definitely had some flaws. Everyone was saying how great Bitcoin was, but if it did not allow you to buy more beer, or at least the same amount of beer, from month to month, what was the point?
So we sat down with an older guy in the frat. He is a grad student in the MIT math department and a pretty smart guy. We stayed up all night reading Naki’s white paper, trying to figure out - just for kicks - how we could design a better crypto, one that would actually increase in value. And we did!
It’s a little early to say exactly what we figured out. And we sort of don’t want to give away the secret. But suffice it to say it has to do with replication of laws of physics, expressed in terms of how value in a block chain behaves when exposed to certain basic mechanical movements and forces, inside a closed environment.
We figured this out because one of the other guys is doing his undergrad work in in emergence theory, and has been spending a lot of time modeling how flocks of birds fly, trying to understand why they all turn at the same time, that sort of thing. He had some pretty good insights. And the main thing for him was this - there is the system, and there is the environment the system is in.
This started to become sort of a Zen Koan for us. The more we thought about it, the more we realized one cannot really say for sure where the system leaves off and the system’s environment begins. In terms of bitcoin, the zen master would say, where are the edges of Bitcoin? Where does Not-Bitcoin begin?
Of course this Zen Master question strikes straight to the heart of the problem with Bitcoin - that one can actually end up with fewer Pabst Blue Ribbons as time goes on. Where was this mysterious edge in the system - the shadowy border between Bitcoin and Not-Bitcoin - where beers could simply disappear?
I realize this is all metaphoric. But there are some concepts that really can only be discussed this way. So this is how we discussed it.
Because, of course, beers should not just disappear. In any closed system, energy is conserved. This is a basic law of physics: E=MC2. But in our case, over a given amount of time, BTC did not = PBR. PBR was not conserved. This had to mean either a basic law of physics was wrong, or BTC did not exist in a completely closed environment.
So we got to talking about this.
In crypto terms, the total energy in a closed crypto system - a coin for example - is measured by valuation and market cap. So if this was where the leakage was occurring - if this was why the beers were vanishing - this must have been where Saki went wrong, and where we needed to improve on his idea.
So we read up a bit on market caps and things like that. We got to talking about liquidity, and then about the stability of liquid systems in closed environments - which is also part of another guy’s science minor - and suddenly we figured out a way to plug the black hole that led to the disappearance of those beers! We stumbled right onto the solution.The problem was not with Bitcoin, it was with Not-Bitcoin. So we designed a completely new Not-Crypto to surround our Crypto.
Obviously we were pretty excited about this. Everyone said they felt good energy surrounding our idea. We even had a feng-shui guy look at our solution. He did not really understand it but he was really impressed.
The math guy worked out all the equations for us, and together we all decided that we need X amount of our coin valued at Y amount of BTC to construct the basic experimental parameters for our Crypto and Not-Crypto environment. If it works, investors are going to be very happy, of this we are sure!
So that’s about it! We are going to see if we can find some infographics that we can change around a little bit, because one of our guys is pretty good in Adobe Illustrator and we think it will look pretty cool actually.
Of course, this is all just an experiment! We don’t know for sure if it will work. Anyhow, thanks for reading, and we hope you join in on our ICO! More details will be updated here soon regarding that.
