In this talk, Andreas outlines the future micropayment ecosystem, how the fee market works, and why the simple / obvious solution to scaling is not always the right one. He also reflects on what to learn from the mistakes of internet engineering, and how we will overcome these challenges in Bitcoin to serve the under-served with privacy, security, autonomy, and liberty.
This talk 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/
NOTE: This talk was filmed prior to SegWit activation.
QUESTION & ANSWER:
Decentralized power, leaderless governance – https://youtu.be/E5VbDlQTPzU
What happens during a fork? – https://youtu.be/XBk8hBJ1xVo
HODLing and the “get free” scheme – https://youtu.be/MhOwmsW1YNI
RELATED:
Hard Promises, Soft Promises: Promoting Autonomy instead of Authority – https://youtu.be/UJSdMFPjW8c
Where the Laws of Mathematics Prevail – https://youtu.be/HaJ1hvon0E0
Money as a System-of-Control – https://youtu.be/FyK4P7ZdOK8
Decentralisation and the Architecture of Power – https://youtu.be/QlYgNH2t43U
Fungibility, privacy, anonymity – https://youtu.be/y3s8c7YDtXU
The Switzerland of currencies – https://youtu.be/pV83Qmy578c
HODLing and the “get free” scheme – https://youtu.be/MhOwmsW1YNI
Governance trade-offs in decentralised systems – https://youtu.be/dtwaW79Fj7c
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.
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
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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
Just because repeated block size increases are not a long term solution does not mean it is not a good short term solution. Andreas argues as if this is an either/or choice, but it is not. We use short term solutions to maintain momentum while in parallel working on long term solutions. We do this every day in life and business, and crypto is no different. Thankfully we have BCH today that has done that.
Was this in Bali? Lucky bastard. Unless of course, you were paid not in Bitcoin but in Rupiah and had to go through the SWIFT hurdles with it.
CypherPunks WoW great
Brilliantly and methodically explained. Not the kind of explainers you get from a Bitcoin Cash video
An argument against blocksize increase without mention of increases in computing power… I'm not saying his argument is incorrect but I find it suspect that he does not address the exponential growth we've seen in computer memory and speed of during the past ten years. I believe we will laugh at 10GB blocks in 10 years just like we laugh at 10GB harddrives today.
If it weren't for Andres, Judas' attempted sabotage might have actually succeeded.
Amazing Amazing Amazing!!!!!!
Para subtítulos en español: Gracias Andreas, el auténtico Bitcoin Jesus
https://youtu.be/OD9cP6WgFa8
Delivering the BIG BANG :>) A true (un)polished multifaceted passionate Crypto diamond!
Modern Robin Hood of Economy. Well educated, interested, experienced Metaphorical connecting our financial past and future from with passion!
From Technical, Biological, Medical, Economical, Anthropological and IT perspective. Very enriching for navigating (financial) life! Greeting from Amsterdam
Did you invent the bitcoin? Now, dont lie to us MR. Morpheus 😀
Great talk BUT. I felt like it was missing a conclusion. What is the solution?
Nicely done!
I would love to atted one of your teachings, where can one find your event locations?.
Why am I clapping at home.
FAST AND CHEAP TRANSACTION IS THE FASCISM OF THE 21ST CENTURY!!!!!!!
One of my new favorites…. I might have to watch this one a couple more times. -coinGuyBri
Great video! By the way, you can have full C block ip's for 50 euro in Bulgaria 😉
A hacker mining bitcoin on your samsung fridge
June.. I didn't care about bitoin yet.
I'll fly to Bali if he'll be there again.
Cristal clear. If Andreas says so….Holy Word
Thank you very much Andreas, the best explanation about scale, privacy, security , bitcoin …
Did you get a chance to try any of the local Indonesian food, delicious 🙂
First you should serve the unbanked Andreas, and if you succeed in that, then we can talk about nanotransactions for 3 billion people. Is that a joke? You used to make sense in your talks…
This talk is full-trottle Nirvana fallacy, sadly
Fucking mindblowing – this is what this guy is! Andreas us mortals, we salute you! You are the emperor of Bitcoin!
Wait, he didn't actually explain how side chains preserved liberty, privacy and autonomy… he explained why simply scaling the block size wasn't enough, but didn't explain why the side chains would work… Why?
Internet Of Things is a joke. I've been hearing about it for 20 years
Antonopoulos is simply genius! Bitcoin is so much more than a peer 2 peer payment system. Bitcoin will disrupt society as we know it. Bitcoin is freedom, freedom for all!
20:33 LOLOLOLO… Living in public, as if my life was piece of art!
Well explained. I never learned this much from all these political fights over the years.
I think we're looking for a solution to a non-problem. Bitcoin will work as the background for another Crypto that can take over and handle smaller transactions better. Bitcoin will be the backer for other cryptos in many ways, it doesn't need to do everything itself.
Layer 2 scaling is necessary and increasing Blocksize is needed too. Just like we have IPv4 + NAT and we also implement IPv6 to address IP address shortage problem. We do have increasing internet bandwith capacity and more hard disk capacity according to Moore's Law to facilitate bigger blocksize. Even in current situation we can have up to 8MB blocksize safely (another altcoin just proved that) while developing Layer 2 solution like Lightning Network. This will reduce fees a lot.