Bitcoin for Beginners


An expert on cryptocurrency, and ladies and gentlemen without further ado
Please help me give a warm malaysian welcome to
Andreas Antonopoulos
Thank you very much. Thank you
Hi, everyone
good afternoon, salaam alaikum. It’s a real pleasure to be here
it’s my first time
in Malaysia. I’ve now been in Kuala lumpur for less than 24 hours
and I’m enjoying it a lot
very much so. This is my latest book. It was published in September. It’s called The Internet of Money
people often find that this is a difficult topic to understand
Bitcoin is a difficult topic to understand and I’ve published two books on it. The first book
Mastering Bitcoin, which is over there, is for software developers, engineers,
technical people. How many people here are software developers, engineers, technical, anyone?
Okay, so five people in this room can read that book
it explains how Bitcoin works
and you can probably read the first three chapters before you get into the very technical stuff and from that point on it
It’s a bit challenging
it’s challenging not because I aim it to be challenging
but because Bitcoin is a complex subject. Now for everybody who is not a developer
the reason I published that book, The Internet of Money is
this isn’t about how it works. This is about why it matters and it’s a collection of
eleven of my talks delivered in this format
and it explains the philosophy of money
the implications of Bitcoin on Society, and it’s a book for everyone
It’s the book I gave my mom to read and she doesn’t understand anything about computers or money. So that’s a good start
Great so before I get started. I’d like to get a feel for
the people in the audience
and get a bit of an understanding of how many people are familiar with these technologies that we’re going to be discussing today
so by show of hands
Let’s start with the narrowest. Which is: how many people here own Bitcoin?
Okay, someone did a good turnout for the community
Hi
Thank you for coming. hi. Thank you for coming
how many people have..
seen or conducted a transaction in Bitcoin, but don’t own any? …have just experienced it
okay, just a few very good
and how many people have never conducted a transaction have no idea
what Bitcoin is or how it works and are new to this topic?
Great, now
That was about maybe 30 people, I would say. Now for those of you, who are new to this topic,
what I’d like to suggest is that whether you understand or not what we’re discussing today
And please ask your questions.
I want to hear even the most basic questions about Bitcoin because I believe those are the most powerful questions
After we’re done with the presentation
after we’re done with the Q&A
I would like to see as many of the people in the audience who have never experienced Bitcoin to install a Bitcoin wallet on your
mobile device and
someone in the audience will give you, for free, some Bitcoin
not a whole Bitcoin
a fraction of a Bitcoin
just so you can see how a transaction works, and then you can turn to your friend who just started
and exchange Bitcoin with them, so you can experiment with this. I can assure you it’s entirely legal. It’s very easy to do
and it will allow you to really experience this technology, which is much easier experienced than it is
explained
so let’s try the next question: How many people in this audience who have Bitcoin, have Bitcoin on their mobile devices, and are
willing to help people install a wallet and give them one or two dollars?
I will.
Look around, the new people, look around who’s
raised their hands find these people after the Q&A.
Ask them to give you a small amount of Bitcoin and help you set up a wallet. Don’t be shy. I will be happy to do
it myself
All right with that. Let’s get started with Bitcoin basics
In October of 2008
on an obscure
anonymous mailing list called the cypherpunk mailing list
an anonymous participant using the pseudonym Satoshi Nakamoto
announced
the publication of a paper
and said:
I think I have solved a problem in computer science
I have found a way to create a system of electronic cash
That is direct between people, peer-to-peer as we use the term in computer science
in this system of electronic cash
I’ve written a white paper, and I have implemented it in Software
and on that day Satoshi Nakamoto published the white paper. You can download it online
it’s available at Bitcoin.org
You can do a search for it: the Satoshi Nakamoto white paper, or the Bitcoin white paper.
And in nine pages, Satoshi Nakamoto described
in detail and in ways that predicted
many of the things that happened over the next seven years
What Bitcoin was, and what Bitcoin could become, and how it would work
But he didn’t stop there
or
she didn’t stop there
or they didn’t stop there. Because we don’t know if Satoshi Nakamoto is a man a woman or a group of people
Or an alien being from the future
Okay, probably not that last one
Satoshi Nakamoto, then published software and invited people
to participate in running a network and this gives you the first hint as to how Bitcoin works
Bitcoin is software
Bitcoin is an application
among other things
You download this application
You run it on your computer. You can run it on a laptop. You can run it on a desktop
Preferably on a computer that’s permanently connected to the internet
It uses quite a bit of RAM and disk space right now
but in those days it was very lightweight
and if you run this program
it reaches out on the internet, and it finds other people running this program
you don’t know who these people are
It doesn’t reach out to specific people, it creates a random
mesh network, what we call a Peer-to-peer network
Where every participant in the system is equal
There is no special computer
They’re all just talking to each other it
Creates what in network terms we would call a crowd
So, randomly reaches out and connects to various
other computers running the Bitcoin software and together they create a network
and that network is used to
exchange and propagate
transactions
These transactions are encoded in a digital format. They contain information
about the transfer of value and the Authorization
to Transfer value between participants
Nobody controls this network
and this is a critical concept, nobody controls this network
You can be running one of these computers. You do not control this network
You run one of these applications
It connects to other people and you run another one of these applications
And it talks Bitcoin to the other computers that are talking Bitcoin, but no one is in control. No one is in charge
just like
when you’re running a computer that speaks on the internet
and communicates with other computers on the internet
No one is in control, if you interact directly between these systems
that network started
on January 3rd 2009
and on that day the world changed
for the first time in the history of money
in the history of Trust in the history of institutions in the history of humanity
a system that is completely independent of Authority is completely independent of institutions
a system that develops trusts as the result of collaboration
communication
and computation through cryptography
was born
this system allows
people to Exchange value to transmit money
and this money is called Bitcoin
So Bitcoin is the application. It’s the software that you run on your computer
That communicates with all of the other computers running the Bitcoin software
Bitcoin is the name of the network that runs the Bitcoin network, which is the collection of all of these computers
some six and a half thousand of them around the world
Anywhere, there is internet
are the ones we know that advertise their presence several thousand more that don’t
and tens of thousands that simply listen
onto this Network without actively participating
the Bitcoin Network
and all of this is an infrastructure that is used to
Create and transmit value in the form of transactions
expressed in a new
currency
the Bitcoin currency
and the Bitcoin Currency is
Unlike any other form of money we have ever seen before
first of all, as a form of money
it does not exist in physical form
it is the culmination of a trajectory we’ve seen in human history
over
thousands of Years
Money has become a more abstract form of value
You start with very very tangible forms of value
commodities
a goat, a banana, a pineapple
These are very poor forms of money
because you can eat them, and they rot or die
and they can be lost. They’re not very good forms of money because they are the thing of value
We went from that to gold, precious metals, and stamped coins
These are better forms of money because you cannot eat them, they do not die or rot
They do not represent the value itself. They are not the value
and this is an interesting concept
Money is not the valuable thing itself
Money is the thing you exchange for the valuable thing itself
The reason bananas are not good money is because bananas are the value you’re trying to get
Money is the thing you exchange for bananas that has no value in itself. It is simply a symbol and abstraction
it represents
something that can be carried, that I can give to someone tomorrow and they will probably give me bananas
That future promise of value is the essence of money
So the essence of money is the ability to have an abstract
token that in itself is immutable
unforgeable
eternal
maintains its value
and represents the exchange of value in the future as a promise
and over time these things have become less and less physical and more and more abstract
Why?
because people don’t like changing
and if you tell someone:
I’m not going to give you bananas for the work you did
I’m going to give you a shiny gold coin, but don’t worry you can use this to get bananas
They look at you, and they say I’ve always had bananas for my work
I think I would like to have bananas, not this yellow thing
a hundred years later
they now believe the yellow thing is valuable
and then you tell them: Now I’m going to give you a piece of paper
instead of the yellow thing
but don’t worry you can still convert this into bananas. And most people say: I don’t think that’s real money
I want the yellow thing and the world moves on
and eventually we change and we say:
You know what? You won’t get the piece of paper either
You won’t get the coin
You will go and look at
numbers on a page
or on a webpage
and that represents the amount you have in the bank, but don’t worry you can still use that
to acquire food,
products, services, it really is money. You can’t touch it. You can’t see it. It’s just a number.
and finally we arrived at Bitcoin
Bitcoin has no physical form it doesn’t exist in any way
it is entirely intangible, it cannot be touched
it is simply a digital form of money
But it is a digital form of money that is entirely different from everything we’ve seen before
What it does that is different? Is that it is not a form of money that is recorded in
the database or records of a company. It is not a digital form of money that
represents a debt owed
to a central bank or government. It is not a digital form of money that has been issued by a sovereign,
a central bank, a nation, a king
It is a form of digital money that has been issued through
complex and energy intensive computation, on the internet
is recorded simultaneously on every computer that participates in the Bitcoin network
is validated independently by every computer that participates in the Bitcoin Network
Cannot be forged, cannot be counterfeited, cannot be censored
Cannot be seized or frozen
Can be transmitted anywhere in the world
as information. Can be verified independently by anyone who receives it
And is not controlled by anyone
Its value is not controlled
its issuance is not controlled, its ownership is not controlled
It is direct from one person to another person
with no intermediaries
If I use my mobile phone
to make a Bitcoin payment to someone in this room. I am creating a digital transaction
That recognizes the fact that a certain number of Bitcoin that the network knows belongs to me
through the proof of my digital signature
I have authorized the transfer of that value
to another
owner of
Bitcoin who will then be able to
control that Bitcoin through their own digital signature, through their own
cryptographic key
Now, you don’t need to know anything about digital signatures or cryptographic keys
When you use Bitcoin you see an application on your mobile device or on your desktop
This application tells you you have three Bitcoin
It allows you to enter the address of a recipient which is a number just like an email address
it allows you to select an amount of Bitcoin you wish to transact
and when you click send on your application
it uses the digital signature and private key that is embedded in your device
to create and sign a transaction that is advertised to the entire Bitcoin network, and says, “I have transferred
this value”. And then the entire network now knows that this value belongs to someone else
They don’t know who this someone else is, nobody knows
When you do a Bitcoin transaction, it is not related or attached to identity
You do not need to create an account
You do not need to register, you do not need to provide Id, or name
or location, or address, age
gender, race
religion
nationality
nothing
You don’t even need to be human
and
You laugh, but it is true.
Bitcoin enables for the first time in human history
for non-Human entities to actively control and own value
Which is bizarre because we’ve never had that in any legal system in the world
we have the legal fiction of corporations, and corporations can own value, but corporations can only exist as
associations between living human beings
in Bitcoin
a software agent that is not owned by anyone
through the use of Cryptography can own
and transact in
Bitcoin
internationally
This creates some very interesting and also very disturbing
possibilities for the future
artificial intelligence
systems can own and control money without any living human being involved
You can have corporations that have
no directors
No living humans in control that are controlled entirely by software
Back to people though if you are a person who has installed a Bitcoin wallet
you must pass
a complex test in order to install this software
You must be able to download an application. That’s it!
Now if you happen to own an iPhone,
you must remember your iTunes password
in order to install an application. And so far, I have found that this is the most difficult part
of becoming part of the global economy of Bitcoin, is remembering your iTunes password
But if you can do that. If you can access the Google Play store. If you have basic familiarity with mobile applications
If you can download an .exe on Windows and install it. If you can double-click a mouse
That’s it. You don’t have to provide your name, your email address. You don’t register or create an account
You don’t have to prove who you are, where you are, or show that you are worthy
you do not have to have a credit score. You do not have to be authorized
This is something that is entirely different from every system of money we’ve ever had before
Now, for the internet generation this is a very familiar concept
When you open a browser, and you start using the web
Do you have to register or get a license to use the web?
Do you have to create an account to visit Wikipedia?
No, the only requirement is that you are able to download install and operate a web browser
There was a time when the idea of allowing every human to be able to communicate
without borders or censorship on the World Wide Web
was terrifying to people. To some people it still is terrifying
Most of the younger generation find it liberating in a global sense
Bitcoin does that to money!
What happens when every human being on the planet,
through the simple act of downloading and installing an application
can become a member of a global economy without borders, one that allows people to transmit and receive money at will
anywhere in the world
24 hours a day
uninterrupted for the last seven years
With fees that do not depend on the amount of money you’re sending, but paid simply for the capacity you use on the network
You can transmit a Bitcoin transaction for about $1
And it doesn’t matter if you send $1 or $100,000 dollars, you still pay $1
It doesn’t matter if you’re sending it from here to another
province
in Malaysia, or if you’re sending it from here to the opposite end of the planet
it doesn’t matter if
you are an individual or corporation, or if you’re sending it to an individual or corporation
it doesn’t matter if you’re sending it to someone who is rich or someone who is poor
You can
Bitcoin changes
the way we approach finance completely
But that’s just the first layer
Because the technology that makes Bitcoin possible that allows two people from opposite ends of the planet
To securely transact with each other without knowing each other and without trusting each other
opens up
an entire range of applications that we haven’t yet imagined
Bitcoin is not just money for the internet
Bitcoin is a platform, the technology that Bitcoin uses, a combination of the blockchain
which is the global transaction ledger
that records every transaction
The decentralized consensus mechanism called proof-of-work that allows security on the Bitcoin blockchain
the open system of access that allows anyone to participate without barriers
and it’s borderless and neutral nature
that make it possible for anyone to participate regardless of who they are
Where the only thing that matters is whether a transaction IS valid, not who is the source or destination
not what is the amount
These fundamental building blocks that make Bitcoin possible
open the door to dozens, and then hundreds, and then thousands of applications of trust
at its core
Bitcoin represents the replacement of
“Trust through institutions” to “Trust through networks”
for centuries
Human Society has been based
on the fact that in order to coordinate the activity between large numbers of people we have to have
something to trust. And until now the best answer to that problem
was institutions
collections of people governed by rules policies
with oversight, transparency and accountability built into the rules, run by humans, in order to create centers of trust
through tradition, through reputation, through longevity
institutions of trust are failing
They’re failing all over the world. They’re failing when they are newspapers. They are failing
in political institutions. They are failing in numbers of ways, and the reason they are failing is because they represent
systems of scale for Industrial Societies,
and we are no longer
Industrial nation state societies
we are now information societies of global scale, that collaborate across borders at massive scale
We are now solving problems that affect, not 30 million people in one country,
but seven and a half billion people on one planet
and for problems of that scale
and collaboration of that scale
traditional institutions do not work, they fail to scale
They’re not evil
They’re not deliberately corrupt.
They simply fail to solve the problems of a global society
and yet during that very time that we see these institutions failing, we have seen the emergence of new
systems of governance. Of new systems of Global Collaboration. Systems that do allow us to collaborate, communicate
and solve problems at scale
and the first of those systems was the internet
and with that
we see the first system of communication that transcends nations, that transcends borders
That allows anyone, everywhere, and anywhere to communicate
Bitcoin represents that, happening to money, it represents a metric network-centric
system of money that is beyond the Nation-State
a network-centric system of money that scales and allows people to collaborate on a global basis
That allows anyone everywhere and anywhere to participate in
a global economy
without barriers, without borders, without ID
without credentials
simply through the act of running Software
and that
will change the world.
Thank you

100 thoughts on “Bitcoin for Beginners

  1. But, but….you need a "network" to use bitcoin….what if that network is brought down….this all sounds very new agey…disturbing…
    The same thing could be said about gold….just because you have it doesn't mean the PTB won't confiscate it…

  2. I'm still dubious about bitcoin as money. Because money has three purposes:
    1: a medium of exchange
    2: a measure of value
    3: a store of value

    The bottom line is as he says, money needs to be trusted in order to be good. A hallmark of good money that can be trusted is that it has stable value. If the value of your money fluctuates all over the place – that makes it less valuable as money.
    While I think bitcoin is addressing a serious flaw in the current currency in use (whether central/governmental control of money can be trusted), I don't see that the value of bitcoin can be trusted. Yes, bitcoin, when it becomes commonplace will be a great medium of exchange – but not so great on counts 2 and 3. The value of a bitcoin is fluctuating and the subsequent measure of the pricing of goods and services will not be stable. The quantity of bitcoin money is fluctuating and hard to trust – and even if it were, how many other cryptocurrencies will rise up to inflate the money supply without control? And as he says, bitcoin has no intrinsic value – only a speculative value based on market action.
    One of the key indicia of a successful economy is stable money. It just kills me when I hear on the news that "an item some years ago sold for X dollars which would now be Y dollars". Nobody knows how much anything is worth anymore and Bitcoin is not going to solve that problem.
    Please enlighten me on how Bitcoin is going to restore stable pricing…..

  3. So how does bitcoin scale to the less affluent user. Current wallet to wallet transactions in bitcoin are upwards of $3.00USD. That is fine if I am transmitting $1000s, about the same as VISA if I am transmitting $100s, but a stiff penalty if I am transmitting $10s of dollars or less. This is not a healthy cost for small retail transactions. If we hope to see bitcoin used for everyday retail, the cost per transaction will need to scale down for small transfers.

  4. presentation is a bit tedious, could us an infusion of enthusiasm and some real life examples of why what he's teaching is important to learn. I'm having trouble maintaining focus

  5. Bruh, you're perfect and I love you. I have adhd. Please use some visual aids. Thank you for being awesome

  6. Andreas is an open book. How he gives these amazing, logical and very clear talks out of his head is amazing.

  7. Your passion for the topic radiates through your presentation, that is probably why you can bring your message in a such a fascinating way. And off course it helps that it is a fascinating topic. Thanks!

  8. I like how he puts things together in a very simple format. The thing here is his description of what to do with Bitcoin and how to make it work for you as an individual or a group. We and many others have now joined and invested a small percentage buying Bitcoin. The proven platform works if you follow the steps, step by step. This small amount invested allows you to profit following the steps. Once you have profited enough to buy a single Bitcoin you are at the level of being rewarded and given 7 Bitcoins. A friend started investing $200 following the platform structure and was rewarded with 7 Bitcoin giving her a net of $23,552.27.  In 2 months she has now profited $92,000 from her $200 investment. My wife and I are following that same platform structure. You want join us send me a message, cheers.

  9. I think he does underestimate the fact that over 50% of the human population are too stupid to operate a computer.
    I'm not kidding or exaggerating here.

  10. Great video, as always! Keep crushing it! I just did a similar video, planning to do a whole series for Bitcoin beginners. Would love some feedback on it! https://goo.gl/XNaJhQ

  11. all right bit coiners. What is a well approved website that i can bit coin from with no limit? I heard of coinbase but what if i want to dump a few thousand at one time.

  12. It is difficult to understand because the language is full of jargon, computer scientists would fail a humanities essay.

  13. I would like to know what would happen to Bitcoin if there was no more dollar? Because it's using the dollar as value right now.

  14. Hi Andrew, Do you think Bitcoin will be able to do smart contracts embedded in a layer of the lighting network in the future?

  15. Hi Andreas, could you advise me as to where I can safety by Bitcoin and best wallet as a lot of online sellers are scams and very confusing? Can I store bitcoin in HardWallet and send small amount of Hash Bits to my mobile wallet. Does that make any sense? Thank you very much

  16. Bitcoin has no guarantor, nothing is backing the currency. It is also reliant on electricity and internet access both of which will be compromised and damaged during catastrophy or and future wars. When people need access to liquid cash the most… you must first access your PC/phone and then the internet and then a broker to traditional hard currency

  17. Question. If it is decentralized, and no one but yet everyone is in control, who receives the $1 transaction fee? I mean if there is no one, or an organization, controlling bitcoin who are we paying a fee to when a transaction is made?

  18. What if someone builds a quantum computer to mine / pump out 1 bitcoin a second? What makes the algorithms to mine bitcoin so computationally energy intensive? Can that difficulty be manipulated to make it even more difficult to mine bitcoin? Thereby inspiring even more innovation.

  19. Who will cry when you (Andreas Antonopoulos) die?
    I will.
    Thanks for taking time to make the world better place AA!

  20. What about the part where you have to submit almost every piece of private information to be able to even acquire Bitcoin… Damn coinbase…

  21. I have Andreas to thank for a lot. Much because of his engaging talks about Bitcoin I bought at $200 in early 2015. I retired this summer at the age of 34, and after the latest rise I can call myself a millionaire. To think that this is only the beginning of this technology is seriously almost scary to think of.

  22. Great explanation video for dummies  like me. Love is God as payment for value, Cryptocurrencies is 2nd. Love is like bitcoin beyond borders but has no miner companies, transaction fees and is not limited by scarcity or political involvement 🙂

  23. You can see new book for Bitcoin Mastering Bitcoin: Unlocking Digital Cryptocurrencies by Andreas M. Antonopoulos https://goo.gl/15rjFt

  24. I'm trying to understand this Bitcoin stuff, I really am, but I don't get it and this video didn't answer my own basic questions. Where do Bitcoins come from? Who determines their value? If everything is so "anonymous", how do so many people have access to this ledger thing? If people are saying this Nakamoto person created it, who's to say he/she/it can't come back and say "Hey, I'm creating about 1 million bitcoins"? I'm just not following the logic here, I don't get it.

  25. 1. Since you receive your bitcoins for payment and it is on the blockchain, How do your wages in Bitcoin support the payroll of the Federal government and its employees? Since everything will be on a blockchain ledger where is your privacy? You call it decentralization, I call it total control. And who decided that this man is the spokesperson for the transition of the financial institutions and its economy? What self appointed? I do not think so, since this was foretold in 1988 of this day to be 2018 in the economist magazine front cover. Nothing happens by accident.

  26. This is bullshit.

    If you already have it ~ It is direct "from one person to one person"

    But to get it You have to go through 1 or 2 intermediaries.
    When we changed the banana for the gold and the gold for paper it was a straight swap. This is just like changing $ for ¥ or € for £. BTC is just like a countyless currency. Still get ripped off trying to buy it.

  27. Thanks for the great video mister. I use this video a lot to show to friends and relatives that are new to and have questions about bitcoin. I saw people's opinion completely change based on your story. I would love to hear your opinion on the following: As bitcoin is not so private as people think and with governments keep creating rules and legislation to gain controll in the crypto world. In my opinion we will see a big shift to privacy coins in 2018 and beyond. Because of this, I sold part of my bitcoin holdings and invested in some relatively newer privacy coins such as DeepOnion and Shield. What's your opinion on the future of privacy coins and do you think I made a wise investment choice ?

  28. Very happy that you're doing what you're doing. Spreading the word about Crypto in an intelligent manner that everyone can understand. I've been in Crypto for over 2yrs now and the easiest way I've found to explain to people what it is and what it's going to do for our planet, is to share your videos. Great job Andreas. The community applauds your hard work.

  29. one of the best youtube vloggers in cryptocurrencies imo. I must admit i struggle to explain bitcoin to anyone who asks me without seeing them roll their eyes.This has helped me to explain it better. Bitcoin is the first and for me the best coin but i am worried about the fees now. Also with government agencies and the tax people showing an increased interest in things i think privacy coins could really start to take a bite out of btc's crown. coins like shield or Deeponion are showing a big growth now and i would love to see what Andreas thinks of these new coins on the block?

  30. BIG BANG CRYPTO HERO :>) A true (un)polished multifaceted passionate Crypto diamond!
    Modern Robin Hood of Economy. Well educated, interested, experienced Metaphorical connecting our financial past and future from with passion!
    From Technical, Biological, Medical, Economical, Anthropological and IT perspective. Very enriching for navigating (financial) life! Greeting from Amsterdam

  31. I dont understand why i have to pay for a withdrawal and a deposit fee at the same time, i was shafted twice in one transaction moving bitcoin to omesiGo from coinjar to blockchain and lost over $150 in that experience over a $500 withdrawal. It is WAY worse than a bank man!. To hell with that, i was never charged that amount in the banks. Ripped off the page bro.
    obviously not at all happy. what a fucking scam.
    Looks like sticking to the devil you know is the better option, i would have been charged $2 for that transaction to move my money. and $0 to deposit that money into another account. Stupid humans fall for anything.
    Maybe i can sell stupid in a bottle!. plety around , thats for sure.

  32. Maybe this will sound like nonsense, but here are my thoughts about thi: The implicit philosophy of the government is that it is not legal to own anything without the government knowing about it. When you stop to think, not about the explicit law, but about the implicit philosophy directing the various things they make the citizens go through, this is what is at the core.
    That the citizen is here to be regulated by the government and that it is reasonable and normal for the relationship to be like that.

    And so, it is only a matter of time before they catch on to HOW exactly they will try to regulate the use of Bitcoin (and/ or the internet), because they have the power, and to combat that power you need philosophical and moral clarity; technology won't be enough…

  33. a key question going in my mind when i saw the video is, if it is going to replace money then why do we have to pay money to purchase bitcoin. why the other person or anybody needs that money for.. i should be earning this bitcoin for my services or products to earn bitcoins to start with and then transact to buy other things… very tricky

  34. This guy explains how futurisc bitcoin is
    But when you can print crypto dollars (stable coins with no backing in dollars) to buy bitcoins, bitcoin technology would still be amazing, but the price will be tottally corrupted.
    Stop believing in a magical world and do a research of how the price of bitcoin is being manipulated by this scams
    “Tether”
    “Dai”
    “ Basecoin”
    “Descentralize capital”
    “Jibrel Network”
    “Stabl”
    “Staticon”
    “Havven”

  35. Descentralized means ( orbiting around the earth with no connection ) great for bitcoin, but a crypto world that is totally imposible to regulate, because it lives in space, it is doomed to stay there, in a non country space.
    The crypto world today is nothing more than an outer space las vegas, that has quit its connections to earth .Because there is no way to rule in space, then is no way of being legit. No matter how hard governments try to regulate it. They can regulate the airports that take you in and out of that space but nothing more.
    Crypto world would be left there by governments , and it would orbit into the oblivion. Forever
    Descentralize= no country= no rules= no contracts= no warranty.
    Good for bitcoin ? Yes, as a store if value alternative to the ones in earth .but converting to dollars will always be require to be inside the law.
    Your friend accepted bitcoins ? Nice. your company accepted bitcoins? Why the need?, if bitcoin is measured in dollars , the companies need regulated money.= dollars.

  36. Hey, mis disculpas, pero creo que te di el link equivocado…, por eso es mejor si lo buscas por su nombre: Dario Esdruani. Trata con Google, que se yo… Y para responder, si, pude ver un retorno de 5X en mi inversión, no solo Bitcoin, también ENG, VIA y otras alts, pero siempre cambian, lo básico que necesitas es gratis, un abrazo!

  37. The trouble with most Bitcoin lectures is that they are either passionately for or against. Neither side can satisfy my need for objective information showing the pros and cons. Also I find the concept of robots (non-humans) trading in Bitcoin rather creepy, they already have caused uncontrolled sell-offs and other glitches that have hurt people. Why is this a good idea?

  38. Why is it that u can buy bit coins with currency, but can't but currency with Bit Coins. This is just a con traders game and will fail. Any way credit cards are already used as cryptoexchange. Bunch of exchange crap.

  39. I'm very pleased to discover this video: Andreas had been in Malaysia before! Unfortunately at that time 15 months ago, I didn't know who he was. And I had yet to be involved in Bitcoin or cryptocurrencies. That would come three months later when I discovered how to buy my first (fraction of) BTC with Ringgit from Luno, transferring it to the Jaxx wallet and changing to other cryptos via ShapeShift. Then I discovered Bittrex. Was fascinated by how I could register with a US company and trade using BTC. That convinced me cryptos will be a significant alternative to fiat for various things in the coming years.

  40. Andreas, l have a copay on my device android, l written down the 12 words, but no number of private key?

  41. Is it possible that two miners might complete a " proof of work " simultaneously ? If so who gets rewarded the "coin" ?

  42. Andreas in this video you look a bit like me. well i'm from the south of italy so Greek genes are not that far away lol

  43. The federal reseve note is a fraud and the method of debt enslavement of much of humanity. Thus bicoin value epressed in dollars will soon be irrelevant. Fake money will die and, since even a gold backed currency is inferior to bitcoin and similar cryptos, they will dominate until something better is invented and globally adopted. The banksters days are numbered. Thist is the best news perhaps of all time.

  44. Hello my friend, do you know you can earn good profits into your bitcoin wallet daily or weekly with bitcoin investment and mining?

  45. I wish I can like this video more than once! 🙏🏼❤️ Thank you, Andreas Antonopoulos.

  46. No time is better than now to buy bitcoins. Reason is that we are at the verge of a strong bull run. Another approach i have taken that has been so profitable for me is not just buying but also strategically growing my portfolio by trading using the well known signal service of Mateo Alejandro. I tried it first though freely on a demo account and it worked so well i invested and traded my first 1btc which 3x in just 2 weeks so i keep growing my coins steadily with just my initial capital. Its a very interesting and easy to use approach and i am sure this will not be news here cos most people that would come across this post would probably already have used and benefited from his training or trading services. His contacts are *[email protected] gmailcom for those who don't know him and would love to try a different but very successful approach towards realizing dreams in the cryptocurrency business.

  47. You don’t have to register, be identified, or authorized? How? How is he transacting Bitcoin without coinbase or any other exchange that has these requirements……??

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