Episode Highlights:
- 01:27 – Advice You Will Receive In This Video
- 01:59 – What Is Substratum
- 02:33 – What Is Net Neutrality
- 04:29 – The Us And Net Neutrality
- 06:06 – Decentralizing The Internet
- 07:23 – The Current Price Of Substratum
- 08:01 – How Does Substratum Work
- 09:32 – Substratum In The News
- 09:57 – Substratum’s White Paper
- 11:39 – My Views On The Substratum Business Model
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Transcription:
Hey what’s up guys? It’s Dan again from cryptocamacho.com is to teach you how to make more money with the currency. A lot has happened guys in the last 24 hours around bit coin cash around bit coin. The battle continues and it will only heat up. I’m expecting the price of bit coin cash to keep going at least for the next week or so. Probably a bit longer than that but definitely expect that in the next couple of weeks. The price of bit coin itself, I am a bit coin core, I continue to believe and see that going down for the next couple of weeks. I don’t know what is it happen in the long run but I just wanted to give you a quick update on that. The markets are going crazy. I’m hoping you have a chance to get into the markets and make some money from the turns. Even if you are literally paying the bounces we are seeing 10% up and down all day long. Almost every one to three hours we are seeing a 10% bump on either side of the aisle, on the bitcoin aisle or the bit coin cash side of the aisle. So no matter what you believe in, no matter what side you are on, you can still make money with bit coin cash and a bit going today. You just need to know how to trade it. And to do that you should use Coinigy or use Gdax or something similar so that you can do a trade on these swings that are happening. It is a great time to be alive. It’s a great time to day trade because there are so much opportunities in what’s actually happening. I don’t know exactly how this is going to play out but I just wanted to give you a quick update on that.
01:27 – Advice You Will Receive In This Video
So really what I want to get in the heart of this episode is really about to complete a different topic, completely unrelated to bit coin cash in a bit coin itself. It is regarding an alt coin, recently they had an ICO. The ICO I believe is finished. But the alt coin exist and what this company is doing I actually really really believe in anything that they’re going to be very successful in the long run. If not this company, then a different company will come up and take their place. What am I talking about guys, I am talking about Substratum.
01:59 – What Is Substratum
What is Substratum? Here is the Substratum website. We are the foundation of the decentralized web. Substratum is an open source network that allows anyone to allocate spare computing resources to make the Internet a free and fair place for the entire world. So this guys is a very big deal. If you live in the United States and even if you don’t, you heard some of the recent news around the FCC voting to repeal the net neutrality laws that were put in place a couple of years back.
02:33 -What Is Net Neutrality
And what does that mean guys? It is a big deal for us in the US. It should be a big deal worldwide because it’s going to have pretty big implications for anybody who is trying to start a business, for anyone who runs an online website or Internet business and far beyond that. What is it actually mean question before we get into the details of Substratum because I really believe in this, I have dropped someone into it recently. I think it is when to take a little while to develop this technology but definitely as the years go by somebody will pull this off and I think Substratum is in a very good place to do that.
But first ask about the net neutrality. So what is net neutrality? And why is this even a topic and why is this important? So Wikipedia defines this as net neutrality is the principle that Internet service providers must treat all data on the Internet the same and not discriminate or charge differently by user content website platform application type of attached equipment our method of communication. For instance under these principles, Internet service providers are unable to intentionally block, slow down or charge money for specific websites and online content. So this is very very big deal. If you are familiar with what happens in China, with what happens in Russia, with what happens in many other countries that are more under the control of the government, the government consistently shuts down websites it doesn’t like.
It consistently shuts down content, it consistently prevents people that live in those nations and those countries and continents who prevents them from accessing certain types of information over the Internet because they have no net neutrality. They have these very harsh laws and rules that they impose on Internet service providers. Or the Internet providers themselves are just part of the government cartels in general. And so they essentially dictate what the public, what the users, what you guys can actually see while using your Internet.
04:29 – The Us And Net Neutrality
So the US until literally just a few days ago was neutral on this in the sense that they made it illegal for Internet service providers to block and prevent this type of content or this type of thing from happening. So a Comcast or an AT&T or other service provider would be unable to block content, charge content, just let Wikipedia says, they have been prevented from doing that because there has been this law in place.
So now let’s fast-forward to today, a few days ago, the FCC actually overturned the net neutrality rules and it has caused a big uproar. The supporters of net neutrality are going to continue to fight. I’m definitely a supporter of net neutrality, I don’t think the FCC should be controlling what the service providers can and can’t do in terms of blocking or unblocking the Internet to the public. I don’t think that should be put in place and some definitely passionate about this. But yes, just a few days ago a guy named Aiit Pai, he basically implemented a vote to overturn these net neutrality rules and the Senate voted for it. Meaning that now they have overturned net neutrality which would allow the Internet service providers like Comcast and AT&T to censor content, to block content, to block or charge a certain amount of money for premium content. This is going to have a whole host of implications, a huge range of implications. It’s not going to all start overnight but it is would affect the Internet and definitely impact the way that you use the Internet if you are a United States citizen.
06:06 – Decentralizing The Internet
So let’s really quickly jumped on here. I don’t need to read this guy statement what I needed to know who he is. So a lot of people are fighting against this guy and thing the government has won round one of this battle. They’re going to be able to do what they want to do, Comcast, AT&T and other service providers are going to do what they want to do but that is why we have Substratum. In a few years’ time, it could take a little while but in a few years’ time the Internet is going to be completely decentralized, meaning that we would not need to rely on service providers like AT&T and Comcast to actually give us the Internet are to access the Internet. What Substratum is doing is they’re building a decentralized Internet which uses the resources on an individual machine within a community to actually access the Internet. When this works similar to a block chain where community to community to community to community would be linked to this chain of Internet providers. So one person will have Internet access, they would link to another person that has Internet access, they would link to another person has Internet access, another person, another person and another person and it was spread throughout the country, throughout communities, from one city to the next. And eventually everybody would have the Internet being provided by a decentralized service and not a conglomerate or a centralized service like AT&T or Comcast.
07:23 – The Current Price Of Substratum
So let’s begin and let’s see how this works. I am bringing this up to you guys because the price is still relatively low. Let’s go check out Substratum price. It’s relatively low right now and I definitely think there’s a huge amount of potential for this one to go up. It may take a little bit more time for this to actually happen but it will happen. Right now it is $.51, it has dropped about 8%, so it’s not about time to get in what everything is going down. But over the long term, let us look at the year to date, over the long-term I think this one has a huge amount of potential. So it has gone up and down but I just wanted to show that the price is $.51 today.
08:01 – How Does Substratum Work
How does Substratum work and what is it. So everyone who runs Substratum knows it’s paid via crypto currency each time they run content. It’s easy to participate and it helps build a better and more open Internet. If you provide your Internet or your content to users around you, you will get paid in a Substratum type of currency. So let’s check this out, how does it actually work?
Substratum builds a decentralized way by leveraging the power of the individual, anyone can publish, anyone can participate and everyone is welcomed to browse. So here’s how it works, the networked at a glance. The host serves the content; so a website, and application, whatever is added to this decentralized web that Substratum is setting up. Then the new nodes or the computers will run thenodes and request that information from that website. The visitor will see the content just like normal. And this just gets into detail about how the actual process works.
And then lastly, in one hosting Substratumnode gets paid each time they deliver content. It’s incredibly simple. You don’t even need the technical knowledge to participate. You just run your node in the background and you make money.
I haven’t actually tried this out, I am thinking about trying this out and setting up a node and then actually going and trying to service. I haven’t actually done that yet. I probably should do that especially if I’m investing. So I definitely recommend you guys do that.
09:32 – Substratum In The News
But essentially let’s look at the news because I want to show you what is going on in the news. So they are doing a private test in December and there is other news here that they are testing this in Europe and in the US. Now they are doing it in Asia as well. It is a fairly new company. It hasn’t been around for too long. But I definitely think there is a huge amount of potential here.
09:57 – Substratum’s White Paper
The last thing I want to show you is there white paper and you guys can definitely read this in your own time but let’s just take a quick look at this. Again, it’s a pretty well-thought-out white paper. It’s 23 pages long. So let’s go and check out introduction, that is really what I want to focus on. Substratum is really an open source to foundation for decentralized web which would provide unrestricted access to content and sharing of information for users across the globe. Our mission is to bring forth free and fair Internet in the future by combining proven technological building blocks with emerging technologies in an innovative and holistically to help solve many of the problems that plague the modern Internet. Substratum will gain a mass adoption by revolutionizing the hosting industry with peer request billing via micro transactions and incentivizing users to run nodes to create a network by paying node hosts in Substratum. This is all been managed by block chain technology and machine learning.
So this paragraph right here guys is key. Substratum will gain mass adoption by revolutionizing the hosting industry with peer request billing via micro transactions incentivizing users to run nodes to create a network. So essentially what they are trying to do is they’re trying to get more and more people to sign up for this type of service to actually make money. The more users they have the stronger the network is, the larger the decentralized web will become. So the more users that actually adopted this technology, the more Internet there would be, the more the price of Substratum will go up and the more access points there would be across this decentralized Internet. Particular business model, right.
11:39 – My Views On The Substratum Business Model
The only problem I see with this business model is the mass adoption piece. I think they’re going to really need to incentivize users and folks to actually participate in this. So I think they’re going to have to have some pretty high payouts initially just to get the bulk of the users on board with this. Otherwise there will be no mass adoption. But as mass adoption happens and as people start to see the benefits of this decentralized web especially now talking about net neutrality and the FCC in the US overturning net neutrality, this is definitely becoming more and more important than ever. I think the time is very very right to do investment in a technology like this especially when the FCC just came out overturning the net neutrality rules. I think the supporters of net neutrality are going to take notice on things like this. There are other companies like I said doing this, the decentralized Internet. Substratum has a new twist on it that they are using crypto currency, incentivizing users to sign up through crypto currency incentives or payouts if you will. So I think that is a very unique take on this but mark my words within the next five years we will have a decentralized web solution, it may be Substratum, it may be something else but I want you guys to know before you go out and complain about FCC, net neutrality, blah blah blah, know that people are working on solutions for this right now. And if you are an investor or you want to be an early adopter, you’re okay with taking a bit of risk, I highly recommend substratum.
Let me know what you guys think, I am curious to know your thoughts on net neutrality. I’m curious to know your thoughts on Substratum, on this particular company, on decentralized web technology and we would go from there. One thing that we really really really really really need is a decentralized exchange. I know that is being worked on as well and there are folks that are getting pretty close to solving that as well but that is for a different video. I am Dan from cryptocamacho.com, if you guys haven’t already subscribed to my YouTube channel please do. You can click on the little red button on my channel and subscribe. I hope you enjoyed this video guys, let me know what you think.
