Bitcoin’s market-based governance system & the five consensus constituents: developers, miners, exchanges, merchants, wallets. Bitcoin’s “election” is held every 10 minutes and determines the most valid, longest cumulative difficulty chain. Consensus choices have monetary consequences. We need to be patient and have the long-view perspective. Many innovations have been developed over the last two years while bitcoin has been in political deadlock and “failing to scale.” This is a system of hard promises that can be softened (if you choose), that resists takeover, that is leader-less. Some people love free human expression and autonomy; others look at it and think, “Oh, you mean there’s a vacancy at the top? Where do I send my application?” The things we accept and the choices we make today, as participants in this network, will make a huge difference 20 years down the line.
This is part of a talk which took place at the ‘Bitcoins in Bali’ meetup on June 27th 2017 at the Hubud co-working space in Ubud, Bali, Indonesia: https://antonopoulos.com/event/bitcoins-in-bali-meetup/
RELATED:
Money as a System-Of-Control – https://youtu.be/FyK4P7ZdOK8
Bitcoin: Where the Laws of Mathematics Prevail – https://youtu.be/HaJ1hvon0E0
The Digital Currency Commons – https://youtu.be/nYBKWrqR4I8
Forkology: A Study of Forks for Newbies – https://youtu.be/rpeceXY1QBM
Is Bitcoin a democracy? – https://youtu.be/TC3Hq76UT5g
Separation of money and state – https://youtu.be/jGmtRA9S7_Y
Unstoppable code – https://youtu.be/AQx3E3F8Kz4
The revolution in trust – https://youtu.be/iWfpxB3HZOY
Governance trade-offs in decentralized systems – https://youtu.be/dtwaW79Fj7c
Scaling, trust, and trade-offs – https://youtu.be/vCxmHwqyJWU
SegWit, scaling, and consensus – https://youtu.be/Jc7mrR6AAto
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Ethereum, ICOs, and Rocket Science – https://youtu.be/OWI5-AVndgk
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-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
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/)
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Iv been in crypto for 2 years now I need a cookie
Consensus would say that your checkered shirt is not very inspirational. Great content though.
so good. thankyou Andreas.
The Greek God of blockchain. He lives on the top of mount CryptOlympus. Thank you Andreas.
Leaderless? Decentralised? Then how come it's all for Blockstream and hard-won compromise gets tossed aside?
POS may not be perfect but it's better than mining centralization and the massive energy cost of hardware to maintain consensus versus all that money going into R&D for the technology itself cough EOS
Every bitcoin user should be very familiar with Andreas' lectures
Dude ???
Hey did you visit the monkey forest ?
Bitcoin the gold2.0
Is this woonomic? Sounds like old woobull
Bitcoin's governance system, is like the political one: you choose it once in a while, but then can't affect its decisions.
Some newer cryptos have a more flexible one, that allows finer control of individual proposals.
The systems are not equal.
He mentions a list of countries. What happened in Spain?
Incredible, this man! You do not only educate but you thrill, Andreas – thank you so much!
Wonderful talk. Comme toujours, Andreas.
Thanks for getting me involved in Bitcoin about a year ago.
Have you listened to my track "The Age Of Cryptocurrency" yet? https://www.youtube.com/watch?v=NLe326P9oTE
You are the man.
I think exactly the same way.
I believe crypto is on its way to replacing normal currency.
I think it's inevitable.
Why?
Where is the gold that sovereign nations once held, the gold that represented their full authority and financed the victorious allies.
It was only a few billion dollars worth of gold (in today's money). Now the dollar is becoming worthless.
So only bitcoin remains.
cool… "The fundamental problem with crypto currency is humans using them." excellent…
Andreas is from the future.
fantastic!
Much gratitude Andreas!
"The fundamental problem with crypto currencies is the humans using them" (A.Antonopoulos) Hilarious! ?
Bitcoin cash for the win!
Third.
Great video as always. Simply the best!!
Thanks so much Andreas for being a rock in the bitcoin community, educating us on so well on many issues. You ROCK my brother : )
Please revisit JRE soon! Thanks
FIRST!
(Do people still do that?)