In this talk, Andreas reflects on the audacity of “be your own bank,” but also the difficulties we will face in translating what that means to people who still have no idea what a bank (let alone the centralised power of the banking cartel) does. We all suffer from the Dunning-Kruger effect, but in security it can be fatal. We need to be better at accurately calculating, conceptualising, prioritising and defending against risks faced by a diverse, global user base. We need to design interfaces that are intuitively secure. Or we will lose the safeguards of decentralisation to “crypto banks” — same business as usual, but new names on the letterhead.

This talk took place on October 11th 2018 as part of the three-day HoshoCon event at Hard Rock Hotel in Las Vegas, Nevada: https://www.hoshocon.com

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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

50 COMMENTS

  1. I truly admire your eloquence. All of your speeches are so well articulated and although mainly based on crypto, not repetitive. Therefore there is always something new to learn from every video. You deliver your message with absolute persuasiveness!

  2. Thank you for all your job for the community.

    I have genuine question about security of my seeds . it looks dumb, but please, read until the end.

    I'm from a developing country which is quite violent(homicide rate is 40/100k people). Then, what if someone kidnaps me and asks my seed? Do I simply loose my coins?

  3. Flow, integrity, foresight, in-depth knowledge, transparency, humility, recognition, realism, technology savvy, community awareness,…..I can keep going. There is a new sherif in town and Clint Eastwood is proud to pass the badge on to this man! Andreas the man!

  4. One of the best public speakers who is spreading superb awareness on crypto n blockchain.. such a pleasure listening to him over n over again. I look forward to hear more of your revolutionary thoughts !

  5. Increíble Andreas. El aporte que estás haciendo por la humanidad es invaluable. El arte en el Storytelling es hermoso y armonioso, ideal para hacer llegar el mensaje, el entusiasmo de la visión, es luz.
    La custodia de la seguridad como característica fundamental de los participantes para la descentralización.
    Gracias por tanto servicio ?
    Muy dispuesto a trabajar por esa visión Andreas. No soy desarrollador de software ni nada de eso, soy más un director estratégico para proyectos pyme, pero a la orden.
    Bendiciones

  6. So I thought I was being smart, but after watching this I think I might be suffering from Dunning–Kruger.

    How hard is it to crack a 24 word seed with only 2/3 of the information? Is it doable today?

    In case it's not clear, I divided my seed into 3 parts similar to whats mentioned in this video. However I've split the words up as follows:
    Words 1-16
    Words 9-24
    Words 17-8
    By splitting the words up like this in 3 locations, I am able to lose either one of them and still recreate the seed from the other two.

  7. I feel dumb now for my crypto security measures. But I guess one of the most secure things is to shut up about your investments. If nobody knows, who will look for it in your flat.

  8. There is a difference between holding bitcoin in a centralised holding space – like a bank – and holding money there… Banks cant print more bitcoin. In my opinion its the printing of new money that is the real enemy. Banks keeping it for us is not as bad, after all, so far they always give it back to me

  9. Crypto, really since it's inception, is pain. Invest, lose that investment, pain. Kill it, become 'Cryptozilla', fret over Op-Sec & Dunning-Kruger. 'Risk', with respect to cryptocurrency investment, is a euphemism. Sure, the 'investment' required is technological (Op-Sec, UX/UI), not financial, but without broad-based adoption (ie 'Dunning-Krugar money'), Metcalfe's Network Effect is illusory; never mind the ever-looming clouds of 'Regulation' (SEC, CFTC, CFPB, FINRA, BSA, FINCEN….) and labyrinthine hall-of-mirrors that is taxation. Still, we have Andreas, and misery is endured in educated company.

  10. Democracy isn't a good thing. It's a mob-ocracy. HL Mencken said it best:
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

  11. Great talk, as always, but, I'm going to be that guy: if I have a 24 word seed (256 bit entropy), i cut it into 4 sets of six words, and someone discovers one of the pieces, they now have 192 bits of entropy to crack, not 64. I'm not arguing against your point, this is still terrible security practice, but not as bad as you portrayed.

  12. I've been watching Andreas talks for a few years now and can honestly say he is one of the clearest, straight-thinking and most lucid communicators I've ever heard. Thank you Andreas for your immense service to humanity. Without education and knowledge-propagation to bring about a societal change of awareness bitcoin is nothing.

  13. Andreas, can you please do a talk about the lies and fearmongering going on regarding QC. I've done some research into QC and you know what I found out? It's all BS. But the big tech firms are pushing this narrative, and it's all a big lie. Recently Google and IBM claimed to have created 52-qbuit and a 72-qubit respectively. What they don't tell you about these quantum "computers" is they can't run any quantum algorithms (such as Shor's, Grover's or Deutch's). i.e. They are not computers. They are quantum "devices" at best. It's scary how much propaganda has been put out about QC – all misleading lies.

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