What functions of money does the current stage of bitcoin fulfill? What is the current popular use case? Why will unit of account be the last function we achieve? Which use cases will accelerate bitcoin adoption in western countries (ex. Germany)? Why should we not be so hard on speculation and hedging against devaluation? What is the appeal of sound money? Will bitcoin become a world reserve currency? Why is gold not a good medium of exchange? How do we incentivise spending of bitcoin, when the current trend is to hold? Why is HODLing simultaneously hard? Why do mainstream economists call it “hoarding” instead of “saving”?
These questions are from the HoshoCon event, the October Patreon Q&A sessions, the Seattle ‘Internet of Money’ tour event, and the November Patreon Q&A session, which took place on October 11th, October 27th, November 10th, and November 17th 2018 respectively.
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
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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.
Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos!
MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9
Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/
THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs
THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ
Translations of THE INTERNET OF MONEY:
Spanish, ‘Internet del Dinero’ (v1) – https://amzn.to/2yoaTTq
French, ‘L’internet de l’argent’ (v1) – https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, ‘Интернет денег’ (v1) – https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, ‘Internet Của Tiền Tệ’ (v1) – https://alphabooks.vn/khi-tien-len-mang
MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK
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
« Invest in education, not speculation. » -Andreas.
This sentence had a huge impact on me, started learning to code 2 years ago when I first heard of you Andreas. Now, I just get hired in a blockchain related company as a developer and I cannot thank you enough. I am forever grateful to once have watched your videos.
Much love from France ??
#HODL
LOL How much is a dollar in bitcoin now
Newbie here. Quick question.. what if the (halving) of the blockchain reward (mining) every 4 years got so low that it wasn't worth it to mine. would the network come to a halt? Who would be willing to mine if those half cuts out paced the price rise? what if it became non beneficial to mine BTC?
one movie and the internet is melted? wtf, what is this? 1792? wtf
Alan obviously hasn't seen your earlier videos…
Andres is you could answer me, what makes bitcoin special? You mentioned a fixed issuance currency, but haven't we've seen several forks of Bitcoin, essentially issuing more digital currency that is nearly identical in terms of their qualities as a medium of exchange? If one Bitcoin becomes worth $10 per satoshi why wouldn't I switch to BCH if it was $0.01 per satoshi? It seems like like everybody and their brother are creating a new currency, so would this not be a form of unchecked inflation similar to your example of the euro?
Regarding gold, digital or analog, I refer you to between 1 and 1.5 million tungsten 400 oz London Good Delivery bars (coated with some gold) floating around the central bank vaults, mostly Asia.
Germany needs a yellow vest grand enema, not Bitcoin. Not now.
Big fan! But, the thing that will unfortunately never happen is that we will ask "how much is a USD in bitcoin". – Please understand that cryptocurrency (not that bitcoin should be thrown into that bucket anyway) are an intermediary step to Money over IP. What Biitcoin did is split money and currency. The former is language the latter is technology.
best bitcoin leader and speaker in this world. andreas i am your biggest fan!!???
My grandpa stil calculate prices back to schilling. its so funny because only old people do that. you cant calculate back because of inflation etc, but its funny btw
Absolutely spot on in every way. In an information economy where every thing is so easy. It follows that money must be harder.
I would like to say, let that sink in, but you know, I just won't.
i hit the 747th like! thats under a 1000 likes , ill go in to history!
13:20 timestamp for myself. Question was something along the lines of since the trend line is up continuously how do we incentivize the spending of bitcoin?
how come kringle cash question never been asked to Andreas antonopolous ?
from his answer to last question I can see that even Andreas has no clue on how a deflationary currency can gain enough transaction volume and be used on a day to day basis.
He didnt give a valid answer but rather used cool stories from the past to show how people survived using the "store of value" function of goods in extremely inflationary economies.
His paragraph from "Mastering Bitcoin" also did not satisfy me on this topic.
WHY WOULD ANYONE SPEND A DEFLATIONARY CURRENCY OTHER THAN INSTANT EXCITEMENT?
maybe debt based system is the only solution after all
If you speak I do hear the truth from within myself!
There are countries crying out for CryptoCurrency Now! So will they wait until BTC is ready? No they won't and are not. This is not a novelty for these people whose national currency is almost useless. AA is really good but is on the dogmatic side imo and has a blind spot on certain aspects of user adoption.
Peeps, stop feeling guilty about making money and "speculating" with the price of Bitcoin! The only thing that bothers ME, is that nowadays everyone is into sex for all the wrong reasons… Gone are the days when quality human persons were made by strong families with values and sh*t! Yup, those were the days.
Smashed the like
DGX is fully insured tokenized gold. Takes out so much of the existing problems of using gold as a medium of exchange.
He misses the big point: They're mutually incompatible not because the system can't handle the transactions, but because rising prices for a currency DISCOURAGES spending and investing. Why spend your bitcoins today, if they'll be worth 10% more in a month or a year? Why start a business or invest in a business? Where does your paycheck come from, if nobody is spending or investing? The economy is a circuit that loops back on itself, not a linear pipeline.
Currency or investment. Choose one. You can't have both. What's good for one is bad for the other, and vice versa.
Excellent as always. Thank you sir.
Best content ever as always. Thank you Andreas !
Bitcoin is 20 years away from replacing all currencies.
Andreas I don't think you remember very well, one euro was 340.75 drachmas initially. Thank you for all that you do!
We can just buy the dip in 5 years. No need to rush when there is nothing new in 2 years.
Can’t we use baseball cards for now to store value. Guaranteed appreciation
Super fantastic! Many thanks.
Have you looked into LNtip on reddit r/bitcoin?
well done!! as always
Bitcoin doesn't work as hedge against inflation atm, because of its volatility. Sadly. You have to speculate that the value increases in the future, otherwise bitcoin is more like an oven where one can burn his fiat.
Hope Andreas drops The Internet of Money VOL 3 by Christmas as a surprise
SEC Chairman Clayton is the only one that disliked this video.
always great content and delivery from andreas
Andreas, you are the "CONFIDENCE" of the people trying to know the Crypto world vs the Fiat world. Thanks for being our Pillar! Greetings from Malaysia.
Andreas should be chair to the Federal Reserve. Seriously
I love and respect Andreas to death but speaking against spending and defending 1Mb block size is just wrong…
6:29 Is Andreas suggesting to buy the dip O.O?
Thank you for your honesty over the last 8 years.
Love the detailed historical references to scaling protocols over time! Invaluable perspective as usual. Thanks for doing what you do Andreas!
It took me all night to download The Phantom Menace trailer in 1999.
Washing machine hodl gang
you nailed it. another great video. thank you so much for your work Andreas!
I always learn when listening to your video much appreciated thank you!
You are an inspiration to me and I think many others will agree. You need more exposure and subscribers.
Best like always. Current situation and realistic vision of the future. Thank you for all your work!
I appreciate you answering my "Bitcoin as the world reserve currency, essentially digital gold" question. Very insightful answer! Thank you Andreas!