Reducing the switching cost between cryptocurrencies with trustless cross-chain swaps. What happens when that decentralized multi-currency micropayment network becomes fully automated and instantaneous?

“Atomic swaps are years away.” No. https://blog.lightning.engineering/announcement/2017/11/16/ln-swap.html

This is part of a talk which took place at the Bitcoin Open Blockchain (BOB) community event on October 29th 2017 at the mHUB innovation center in Chicago, Illinois: https://www.meetup.com/Bitcoin-Open-Blockchain-Community-Chicago/events/244248063/

Watch the full talk here: https://youtu.be/XCVaabu3J04

RELATED:
Money as a System-of-Control – https://youtu.be/FyK4P7ZdOK8
Hot vs. cold wallets – https://youtu.be/Aji_E9sw0AE
How do I choose a wallet? – https://youtu.be/tN6b62sEpsY
Alternatives to centralised exchanges – https://youtu.be/3jmeJjhH84s
Could governments take over exchanges? – https://youtu.be/9PrJQeKl9w4
Coinbase vs. the IRS – https://youtu.be/YQJk-5ZYmoM
Decentralized power, leaderless governance -https://youtu.be/E5VbDlQTPzU
Separation of money and state – https://youtu.be/jGmtRA9S7_Y
Price volatility, pegging, stability – https://youtu.be/9KPyflyHP6s

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Subscribe to the channel to learn more about Bitcoin & open blockchains!

If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron: https://www.patreon.com/aantonop

Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)

source

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46 COMMENTS

  1. Isn't this what Graft is building? Any coin and/or fiat to any coin and/or fiat, multilayered.
    It's 2nd chain is just a unit of account, you can't actually buy or sell those.

  2. Idk when I give him/her my secret he/she could decide wheter to make the trade or not. If the price does favor him/her after a certain amount of time he/she will execute the trade if not wait for the timeout. Do I miss something?

  4. IMPACT :>) Walking "all u Need 2 Know source! 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

  8. i mean i get it, but the general public wont untill atleast another 10 years.. i mean they might use it and or be able to use it earlier but they wont understand it.. tho i doubt any of them understands SSL certificates either.. so .. but just saying.. happy new year HODL'rs

  15. Hello Sir. Andreas, I watch your videos regularly. I just have one Question. When will BIG investors get in to Bitcoin and when that happens, How will the Bitcoin enthusiasts or Hodlers behave ?

  16. Enjoyed listening to you on the Joe Rogan podcast! Cryptocurrency is addictive, I need counseling 😛 Your thought on IOTA and tangle?
    LTC LZL56nsBptjXFRhC1SFKKjLrVYURCEEuBo

  17. The unit of account could be called, "crypto." Imagine a wonderful world where everything was priced in "cryptos." The milk costs 2.50 cryptos and a car costs 20,000 cryptos for example. So when I go to pay for it, I can choose which of my digital currencies to use (say 10% in BTC and 90% in DASH). But wait, there's more! The car dealership said I can get 5% off if I pay in XVG. Great! So in this world, the cashier or whatever might never know what kind of currencies I have, I just pay 100 cryptos for my groceries, but those 100 cryptos = .002 DASH and 500 XVG or whatever. Question: who or what or how would 1 crypto equal whatever actual currency we're talking about? How does the exchange rate get figured?

  26. Amen. So understandable and encouraging in 6 minutes. Seeing as Im all ADD over here in cryptoland. I think my brain has been atomic swapped a few times ?. More breakdowns whenever possible, need state of the blockchain address lol. Yay logic yay world yay freedom! Thank you!

  27. Compare to the current system, where just today I had to drive half an hour out of my way, park, wait 20 minutes, spend half an hour showing ID and providing info and answering questions like, "What does this company do? How do you know them? Do you know they are a LLC?" Etc, etc. All for the privilege of paying them $100 to send an amount I could send in BTC in minutes for pennies. Please bitcoin, disrupt the hell out of banking!

  30. The "every company will soon have their own coin or token" argument is likened to gift cards in my mind. Store Credit. Store Based Credit Cards "Sears Card". The market is already saturated with these type of things, companies moving towards tokens of value is inevitable and in their best interest. The technological advances, research, development, security, implementation, promotion, marketing, ease of use, adoption, profitability, trust, faith, customer service etc will separate the winners from the losers as always.

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