In this talk, Andreas picks apart the false dichotomy of ‘rainbow’ market types (white, grey, black, red, blue), the underlying moral assumptions in these classifications, and why Bitcoin’s colorblindness matters in a world where state ‘justice as a service’ (JaaS) is not only jurisdictionally relative and contradictory on a global scale, but often faulty and destructive within its own borders.

CLARIFICATION: At 6:50, I said that it was illegal to use bitcoin in to escape Venezuela’s currency collapse. This is somewhat incorrect. There is still no law in Venezuela that is explicitly in favor or against the use of bitcoin itself; Bitcoin’s status in Venezuela would be more accurately described as a grey market. Authorities have justified arrests based on accusations of “committing cyber fraud and power theft,” or “money laundering” and “financing terrorism.” Bitcoin miners are often subject to extortion by local police. Another charge has been “bypassing currency controls,” which is what I meant to address in that statement.

This is my first time using YouTube’s new Premiere feature, so please let me know if you enjoyed it and I will consider doing more of these releases in the future.

Thanks to the quick work of some helpful translators, the talk will premiere with subtitles in French, German, Italian, and Spanish!

For more info on the premiere: https://www.patreon.com/posts/join-us-for-live-23430123

This talk was delivered at the Latin American Bitcoin and Blockchain Conference (laBITconf) at Centro Cultural CorpArtes in Santiago, Chile on December 5th, 2018: https://www.labitconf.com/

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 little 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

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48 COMMENTS

  3. Is this to say that all corperations researching (and adopting) private blockchains are wasting their time and money? Everyone realizes public blockchains are better, but most coperations feel like their hands are tied in this regard due to privacy concerns of their data and GDPR. So, they make consessions, saying they will do their best to use enough nodes in as many competitors' hands to ensure a robust, 51% proof private blockchain. But Andreas, it sounds like you are given this field of thought a strong No (it is not open, one of your five pillars).

  5. – fuck ! those andreas talks make my blood boil , it makes me want to take a shortcut and just take it all down in violent revolution , actualy i am sure in future we will have protests to force government to switch public services onto public blockchain , from current perspective that is a best and urgent use case for this technology , transparent imutable distribution of common wealth

  11. the banks are already rich, those who will suffer during the transition will be only the employees who will lose their jobs and the real estate market will receive a little jolt, after all the real estate of the banks will have to be abandoned because the retail market will no longer be used if not in rare cases. Banks can save themselves from collapse by anticipating this transition.

  14. Uber is really a fucking shit company and I'm sure you weren't robbed or cheated while driving Taxi in Germany. That's just hyperbole. About 50% of taxi drivers are self employed, which means they work for you and themselves, not a fucking master. Why is that possible? Because they don't have to fight for customers by reducing fares until they can barely feed their children. That's Uber, in case you didn't know.

  15. Hey anyone, I'm looking for a social/political interpretation of blockchain tech (Bitcoin, DAO, web3…). Has anyone came across good papers ? It's for a friend of mine studying anthropology, she has 0 technical skills

  17. Andreas, Why are we all even playing the crypto-riggers' game?? What if EVERYONE started trading on de-centralized apps like Fork Delta (no trading at all on centralized exchanges), and the hard-core crypto techies put out a free-market pricing board based on actual trades on DAPPS?! Couldn't that move take all the power out of the crypto riggers hands? Just seems to me, the very nature of block chain is the first alternative in human history to the controllers' system, which they can't do anything to stop! I think it could happen if crypto YouTubers would promote it!

  18. DigiByte anticipated the scalability issues that would plague Bitcoin adoption, so DGB designed its blockchain to handle Visa/Mastercard levels of volume, all while keeping transactions on the blockchain. The problem with the Lightning Network is that it is an off-chain (meaning outside the blockchain) "solution". This is no solution at all, for if off-chain solutions are okay, we might as well stick with Visa/Mastercard because they're already digital and lightning quick. Also, LN risks centralization because it'll have centralized hubs. If you believe in the true spirit of crypto, you should reconsider the merits of Lightning Network. BTC is awesome, but I think it's going to act more as a very lucrative store of value (gold). When it comes to day-to-day cheap transactions, DigiByte will dominate.
    DigiByte is sooooo undervalued. People heavily invested in tokens (who don't even own their own blockchains) are missing out on DGB's decentralized high-speed UTXO blockchain. When people intend to wake up?

  30. Watched this on live streaming a few weeks ago, great talk as always! Are you uploading the "fireside chat" that happened the following day? The interwebz needs to see emotional Andreas too!

  31. No, no… Uber is NOT fair to drivers, Andreas. I know first hand, was there when I signed on @ $2.35/mi and saw it cut 3 times over 17 months to .76/mi. Not only is it not profitable for the driver, it will cost him in the big picture. Uber drivers are trading the value of their car for a check…no profit involved on most rides!

  37. Andreas after taking a more careful look at brave I completely understand what you meant about "centralized". And they do make you use this custodial wallet in order to use the tokens as a creator. Thanks for helping me understand this! This is why I cant stop watching your videos! Always something new to learn!

  41. With all due respect, the question on justice remained unanswered. You can't stab people through IP but you can certainly steal their money. So, how decentralized border-less cryptocommunities are dealing with hacking, for instance? Poorly, to say the least. Who is cleaning the mess after Mt.Gox hack? Japanese Ministry of Justice, very centralized and border-bound. How justice was served to the victims of DAO hack? By Vitalik and Co using their immense influence on the project (centralization) and rewriting the Ethereum blockchain (censorship). How about victims of hundreds other hacks, exchange account blocking, price manipulation, Ponzi schemes and whatnots? They just bear the costs letting abusers keep their profits.

    In my humble opinion, the system that does not even promise justice *will not be widely adopted*. That is the serious issue and not something to be answered with toilet paper jokes.

  42. I've always listened closely to Andreas because his information regarding Bitcoin is of the highest level. I disagree with many of his political opinions. It seems as though he thinks the US should have no borders and should accept overflowing amounts of undocumented immigrants.

    He supports the incentive based, competition driven, ecosystem of selfishness that makes Bitcoin robust, yet somehow steam comes out of his ears when the most capitalistic people protect their interests.

    This is life-to listen to everyone, recognize their good qualities and imitate them, then recognize weak points and learn from them. The same goes for my father, mother, brother, sister, and everyone I know.

    I support Bitcoin and I support America the America first agenda.

    MAGA!

  44. I would like to point out a little mistake he made, buying bitcoin in Venezuela is not ilegal at all. In fact, using cryptocurrencies is kind of encouraged by the government since Petro cryptocurrency was established. Having said that, I agree with everything he said.

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