Why is the “blockchain, not Bitcoin” line of thinking wrong? What is the purpose of blockchains? Can blockchains or special purpose cryptocurrencies be used for debt and credit systems? Will the role of fiat be reduced to this?

These questions were part of the monthly live Patreon Q&A session on March 31st and the (rescheduled) April session on May 5th. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

RELATED:
Bitcoin vs. blockchain – https://youtu.be/kHbtp7pOftU
Blockchain versus Bullshit: Thoughts on the Future of Money – https://youtu.be/SMEOKDVXlUo
The value of proof-of-work – https://youtu.be/ZDGliHwstM8
The mining process – https://youtu.be/L4Xtau0YMJw
Miners, pools, and consensus – https://youtu.be/JHz7LM4ncLw
Bitmain and the ASICBoost allegations – https://youtu.be/t6jJDD2Aj8k
Energy consumption – https://youtu.be/2T0OUIW89II
Keep Digital Communities Weird – https://youtu.be/1MG1aR71uFg
What is Consensus? Rules Without Rulers – https://youtu.be/2tqo7PX5Pyc
Forkology: A Study of Forks For Newbies – https://youtu.be/rpeceXY1QBM
The Stories We Tell About Money – https://youtu.be/ONvg9SbauMg
The Killer App: Engineering the Properties of Money – https://youtu.be/MxIrc1rxhyI
Bitcoin Security: Bubble Boy and the Sewer Rat – https://youtu.be/810aKcfM__Q
Altcoins and specialisation – https://youtu.be/b_Yhr8h6xnA
Cryptographic primitives – https://youtu.be/RIckQ6RBt5E
Nonces, mining, and quantum computing – https://youtu.be/d4xXJh677J0
Migrating to post-quantum cryptography – https://youtu.be/dkXKpMku5QY
Price volatility and store-of-value – https://youtu.be/wzzZT95ijTo
Bitcoin as everyday currency – https://youtu.be/xYvvSV4mjH0
Inflation and debt systems – https://youtu.be/6CwxHiKf27A

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!

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/)

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33 COMMENTS

  1. (FYI only) Mr. (aceboy) Andreas M. Antonopoulos is a technologist – and serial entrepreneur – who has become one of the most well-known and respected figures in bitcoin. Learn your asses off – it will blow hair back and knock your sock of for the next 300 years…

  2. Hey Andreas,

    First of all, massiv thanks, your books and conferences are so far the best way to learn about blockchain (I also learned english thanks to it !). I dont know where should we ask questions, their's maybe a Reddit post or smthing, I cant find it out.

    > Does blockchain means that every users have to own a smartphone in order to join the network (or another stuff) ? I'm concern about the limited supply of ressources and the fact that most minerals in smartphone can not be recycled; isnt that a scalability issue ?

    > PoW security relies on the cost of energy it'd ask to have more than 51% of the network's power. Their's massiv flaws on most CPU, people dont patch their PC, etc.. dont you think a botnet + quantic calculator + super calculator could beat a blockchain ? (i''m thinking about an attack from government)

    Again, thanks for being yourself, meeting you one day would be really cool
    Clément

  3. Andy, I can save physical precious metals in a safe in my closet.. I understand a digital asset with similar properties offers many benefits such as sending value across borders, etc. But what have we accomplished if we don't have merchant adoption at the micro-transaction level? If BTC is not legal tender, will there be a behind scenes atomic swap into "fedcoin" tracking my every move, with the possibility of being "turned off" if they don't like my behavior?

  4. Many people think bitcoin is just a means to do money laundering and other black market activities. "Blockchain not Bitcoin" is marketing to those people and the bitcoin community benefits from the attention to the technology that this marketing brings.

  5. Is there a reason why the decentralisation of the process of validation could not be achieved by incentivising competition by the use of a reward of fiat currency instead of a token asset. i.e. instead of miners receiving 1 bitcoin they will receive x million dollars, and x will increase based on the difficulty of the validation. (im a non technical individual)

  6. There are already decentralized debt based cryptocurrencies. Stable coin DAI is a liability from MakerDAO. MakerDAO is a decentralized and automatically collateralized fractional Reserve Bank from which you can borrow pledging eth.

  7. This video just put the bias on Bitcoin too far from what I can consider "smart". Andreas, please, there is Blockchain without Bitcoin and you know that. Big IT companies and experts know very much well what the Bitcoin blockchain proposal is, they know that is not sustainable in the long run, and they are evolving. Just saying.

  8. Hi Andreas, another great presentation! How do you feel about Microsoft acquiring Github? I am not a technical geek nor do I profess to knowing ALL in this historical space (I do try lol!) However, I have been reading concerns regarding 'all code' having been written on Github that has now been acquired by Microsoft. Does this concern you? Source:https://cryptobriefing.com/microsoft-github-acquisition/
    Reddit concerns:https://www.reddit.com/r/programming/comments/8oh3mq/microsoft_acquires_github/

  9. Hi Andreas can you examine this idea of mine about bitcoin future can it work? what do you think about?
    White paper for Bitcoin future. 🙂
    Bitcoin is a computer program that will takes over the Planet. Our planet needs 5 global institutions to solve planetary issues. 1. Satoshi Nakimoto Institute 2. Land Institute 3. Water Institute 4. Air Institute 5. Space and beyond institut.

    Up to certain bitcoin block mining should be done by these 5 institutions only. Governess : Let's say Global Water Institute: its policy and president have been nominated by ocean and clean water lover around the world, everyone can be member. And pay monthly small fee to be able to vote for president. This institute does water cleaning, ocean guarding, every common good thing about water. since they are mining bitcoin, they can hire people buy equipment ect. The purpose is keep planet save from human danger. And so other institutions organize same way and goals. And bitcoin protocol can be changed and developed by this institutions only. Satoshi Nakomoto Institute will deal with government. Create bitcoin integration Programs for tax collection, Id cards, voting mechanism ect. By doing so I think bitcoin will be computer program for better world.

  10. When you say 49% percent cointinues mining the honest chain, what do you mean by that? Arent all the nodes already accepting the dishonest chain as soon as it has more proof of work?

  11. the underlying issue is strongly related to the skewed ownership distribution of BTC. roughly 1000 people own 40% of all coins afaik.

    no one wants to buy a 10k BTC, knowing that others (whales) got in when they were worth just pennies.. the risk that whales or mtgox dump on you is just too high..

    thats why everyone is investing in those shitty icos these days. which pretty much is the same statement as "blockchain yes, bitcoin no"

    please prove me wrong 😉

  12. Antrea, in my mind, I see no reason for an inflationary cryptocurrency (eg. Fedcoin) would be adopted by anyone. When you have a stable deflationary currency then why would you ever go into debt? Why would lending be practised on that scale? Banking, insurance and pension would be obsolete. What is your view on this?

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