How do the unbanked get cryptocurrencies? How will Bitcoin scale at all layers to become reliable and useful as a retail currency? It’s currently the most useful for store-of-value (SoV), import/ export businesses, remittances and cross-border transactions. The SegWit soft fork was not only a block size increase and transaction malleability fix, but it also enabled second-layer solutions. Building a system that is easy to use, yet incredibly complex in the background, necessitates that we don’t settle for simple answers. You don’t need to understand how BGP works in order to use the internet. If you had told a person in the early 1900s that we would electrify the world, or re-pave roads to be suited for cars in a few decades, or have a real-time video conference over Skype with someone on the other side of the world, they would have written a PhD on why that was impossible. Stop only thinking about bigger ‘pipes’ and start making the data smaller. The scaling solutions that are being considered and developed right now will enable thousands and then millions of transactions per second in the next few years.

This talk took place at the Riga Art Space for the Baltic Honeybadger conference on November 25th 2017 in Riga, Latvia:

Watch the rest of the talk here:

Delivering Liberty, At Scale –
The Killer App: Engineering the Properties of Money –
Beyond Price: Bitcoin’s Impact on the Future –
Introduction to the Internet of Money –
The Lightning Network –
Why I earn bitcoins instead of buying them –
Where can I buy and spend bitcoin? –
How much bitcoin do you have? –
Scaling is a moving target –
Scaling, trust, and trade-offs –
From barter to abstract money –
The internet will eat your business –
Job opportunities with cryptocurrencies –
Impact of smart contracts on law and accounting –
Borderless money –
Fungibility, privacy, anonymity –
HODLing and the “get free” scheme –
What is the biggest adoption hurdle? –
Hyperbitcoinization –
Altcoins and the scaling debate –
Biggest threat to cryptocurrencies –
How do I choose a wallet? –
Intrinsic vs. extrinsic assets –

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

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.





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Music: “Unbounded” by Orfan (
Outro Graphics: Phneep (
Outro Art: Rock Barcellos (



  1. Andreas, very much enjoying your videos. I would be delighted to send you a copy of my book: In Strangers We Trust, Our Perilous Quest For Perfect Money. I think you’ll find some interesting conclusions in it. Keep up the good work.

  2. I am a little bit sceptic, not that like i am one of those with conspiracy theory, but encryption sha256 is invented by N.S.A, i know it looks like imposible to reverse encryption from public key + digital signature to restore private key. Smth is not smell good in this encryption, it is used in old payment gateways also and in SSL web apps. What do you think about this method of encryption Anton?

  3. I recently found Bulletproofs technology to make data smaller for bitcoin transactions. May be it is our future: Also, bitcoin Core developer Greg Maxwell has resigned from blockchain startup Blockstream to focus his efforts on open-source protocol development. He would focus his attention on innovative technologies such as Bulletproofs, Confidential Transactions, and signature aggregation — technologies which could increase bitcoin’s privacy in a more scalable way:

  4. Bitcoin is about innovations, about engineering, science, about reaching unimaginable goals. BitcoinCash is about conservatism, whitepaper fundamentalism, with no real future plans (except for building network with $20k nodes in China).

  5. Key Questions: (30 questions – 10 sec. each+)
    1. Where did money originate?
    2. What is the purpose of money?
    3. How many forms of money have we had?
    4. How old is money?
    5. What brought about changes in money, each time it evolved?
    6. Is money necessary for society?
    7. Will we eventually evolve to have no money?
    8. What role do banks play in money technology's history?
    9. Where did the first coins come from?
    10. How did "paper money" develop?
    11. What were the key shifts in money technology?
    -Barter system (not actually money)
    -Intrinsic value money (money that could be used for other purposes, ex. obsidian)
    -Precious metals
    -Paper money
    -Digital money/plastic cards
    12. What are the dangers/pitfalls of using each kind of money technology?
    13. What are the benefits/advantages of using each kind of money technology?
    14. Where did the first bank originate?
    15. Which bank introduced the first "paper money?"
    16. How does a national currency derive its value? Simple economics of money? (ex. scarcity tied to value)
    17. How secure are banks today?
    18. How has the technology behind each kind of money affected how it was spent by users (ex. spending tangible cash vs using credit cards lets you keep better track of spending)
    19. What are the statistics behind bank account thefts?
    20. How did the gold standard affect paper money?
    21. How much money exists physically vs only virtually today? (and the timeline of physical vs digital existence of money)
    22. What is happening to all the coins that are being discontinued?
    23. What is the population distribution of money throughout history?
    24. What does the bank do with your money?
    25. How many faulty charges in cash/credit happen yearly? (people overcharged/people don't recieve their change)
    26. What was the benchmark for being rich across history?
    27. What are the strongest/weakest currencies today?
    28. Is it possible to live without money today?
    29. How much is each money technology used around the world yearly? (percentage breakdown ex. paper money, credit, gold, silver, cryptocurrencies)
    30. What is the ranking of quantity of national currencies in circulation by nation, as of today?
    31. What is the ranking of debt per nation today?
    32. When was debt created? Did the origin of debt coincide with the first bank?
    33. The effects/benefits/disadvantages of using debt in an economy?

  6. Hey, I'm new to Bitcoin here and Andreas has provided some great lectures so far. I bought my first bitcoin today ($10USD worth)! However, when trying to put it in a safer wallet, Mycelium, Coinbase was asking for a $12.50 network fee for the miners.

    This is crazy! How can someone use this as a daily wallet replacement right now?

    I know the Bitcoin network calculates fees based on the number of transactions and the size in kilobytes of each transaction. I'm confident it will, but how does a system like this scale?

  7. Thanks for another compelling video! As a side note, can you please register for the Brave browsers BAT publisher program? I would like to send you direct donations via my Brave browser but need you registered before I can do that. Keep up the amazing work!

  8. Dear Andreas? Thank you once again for your valued information, delivered in a no nonsense direct fashion….. It would be absolutely wonderful if you could have a live channel streaming into our home every day, just for a few hours. We love you educating us all!

  9. when i worked at Mindspring in 2000, we used to sit around and laugh at the fact that sprint was building their own network, a fiber one at ! How silly we thought! Where where there ever get the money to do this profitably. Why wont they just use bellsouths 30 year old copper network thats already in place. No way. thell never do it. …Then they did it!

  10. for christ sake, andreas… swear that I was like "ahhh, I think I don't fell like watching andreas now, this might be getting the same good speech he always does, I don't feel like I'll get something new, maybe I'm getting advanced but, hey, it's andreas, let's give him a…." and bang, completely mesmerized again

  11. what the hell is with this man…..every time i listen to him m filled with positivity, optimism & motivation.
    m not gay but i love u mate & ur wisdom.
    I must ask how come u are so much motivated after all these powerful people who are against u & trying to crush ur plans. Alot of people including me want to live in a new financial world u want to create & m sure we'll together succeed in it.

  12. THANK YOU SO MUCH ANDREAS!!! For what your doing.
    I'm sure I'm not speaking just for myself when I'm saying that your time and effort is greatly appreciated.
    Please keep in mind – the work you are doing is truly changing not only lifes it is changing the future.


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