Number go up: Bitcoin is a Trojan Horse | Alex Gladstein and Lex Fridman
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- เผยแพร่เมื่อ 16 ต.ค. 2021
- Lex Fridman Podcast full episode: • Alex Gladstein: Bitcoi...
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Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and the Oslo Freedom Forum.
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This sounds like the extreme optimism of the early internet. Never underestimate the power of the establishment to bend these technologies to their own ends.
I agree Adam Smith. It is entirely possible that governments will do their best to co-opt bitcoin or how about force all citizens to have a bitcoin wallet that is transparent to the government? Right? That would be bad! HOWEVER, there are so many privacy projects in the works, PLUS Bitcoin "clones", PLUS tech being stacked on top of Bitcoin, PLUS blockchain projects that solve myriad use cases, PLUS tech that doesn't yet exist, etc. that governments will have a full time job just trying to shut down a decentralized internet let alone all the tech coming down the pike. It doesn't mean the people automatically win. It means the governments seeking to control people will have a real battle on their hands. And ultimately I believe the people will prevail!
This is a somewhat ignorant comment. Spend a little time on the fundamentals of Bitcoin / decentralized finance. But sure, in so far as how people will allow or even prefer 'the establishment' to be custodians of their Bitcoin, they'll just be able to re-package the mess of what banking is. On the other hand, at its core, it's the one reason countries that are crumbling turn to Bitcoin - because despite what a corrupt and controlling government would otherwise want, they're able to maintain financial independence.
@@innerpull well said. Also just want to add the original point is valid IF we are talking about pos, this is the real reason why btc is so important because all other coins can easily get corrupted. Eg, I believe in taxes, if eth is base money that would suggest taxes are paid in eth, govts will over years hoard huge amounts of eth and this is where pos gets dangerous, etf aswell... essentially as eth gets financialised that will be the true test of if it can survive.
corruption.... 1 corrupt actor, the system will become "enslaving"....fools why so "pipe dreamy"...steel over gold, it bites better
I’m pretty sure BTC was an NSA funded project.
I'm just a chimp eating ants off a stick and keeping my eye on Lex to make sure it's safe to be in this part of the jungle...
I like you, you're cool.
Ye.
@@alberlusconi1 Stop stealing my comments. Whoops!
Right there with u bro, eating fleas off your as$! Lol
We’re picking bugs out of your fur
Techno-optimism never fails to find itself a new host.
Is this what toxic positivity is?
Wow this was an interesting perspective I haven't heard of! 👍
As long as BTC value is measured in USD, it hasn’t accomplished it’s ultimate goal....
Bingo.
Exactly. It's just a swap.
Wow... that's an amazing point. Thanks.
The value of all curencies is a comparison to another currency or gold
BTC becomes more and more difficult to produce as time goes on, and costs absurd resources to produce as it is. Ultimately, it's going to end up in the hands of a few wealthy companies/individuals. I really don't see how it's more freedom than fiat currency.
Freedom is a function of Truth. People become enslaved by their self deceit.
Salient insight
Not so much self deceit, i think. The people become enslaved willingly and unwittingly by their unbridled "trust" and "faith" in those who control the deception.
The speaker also doesn’t seem think BTC/crypto can’t be manipulated. And govts have near endless money and time (and legal leverage) to crack whatever privacy controls exist.
@@anthcrich I understand your point, but disagree. I have discovered that people much prefer a lie to a truthspeaker. The power of the Christian Story worked for many centuries. Science is now pushing a story for the wrong reasons. And people love it!
People are born enslaved by self deceit.
You work for 40vrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life.
This is quite needful but for beginners you shouldn't settle for videos alone or you see yourself loosing all your money just like me when I started trading with this videos on here, we should be prepared to contribute
Such information we don't get from most
TH-camrs, getting in touch with her right away.
Dead internet
It reminds me of all the people who retired from collecting pogs in the 90s. Everyone tried to stop them but the real poggers refused to listen and they “poggled” now they’re all living on a beach with the beanie baby investors while the haters are still working at their normal jobs.
@Franklinsaint-xt7okhahahahah boys are getting good enough to trick the average 5 year old
The idea that Athena was a superior War Goddess to Ares in the Trojan War was a significant cultural dialogue about the changing perspective on warfare. This was ultimately a desecration of War, and has always led to the Chaos of the feminine consuming culture, as the saboteurs returned home and found their enemies within their city walls.
"feminine consuming culture" what does this mean?
@@Shadow1986 feminine energy is receptive, the void, the consumer. The feminine is not a producer of value, but of life
For the triumph of Ares, those that return are the strongest, most disciplined, and ordained by the gods to lead. Where Athena triumphs, those that return are subverters, suspicious and manipulative in nature. Athena cannot beat Ares in war, merely in subterfuge.
When a tribe sends out its warriors, it is a sacrifice of the weak to prove the merits of the strong. They protect the tribe, gain resources and favorable conditions of trade. And when they come back, they've had their fill of violence, their fill of murder, and seek to create a better world that justifies it. The Athenian warrior does not win on strength, or innovation, but wins by being cunning like a snake. That reptilian cunning knows no fill, only that predatory instinct to feed itself. It comes back hungry for more power, more dominance, to manipulate, to subjugate with wiles. It is the order of no order, the rule of no rules, the dominance of the Chaotic Energy of the feminine.
@@vrillionaire88 i dont understand. is this based on some mythology of sorts or ancient beliefs?
"Chaos of the feminine" yeah sounds like some Jordan Peterson horseshit to me
@@hospitalcleaner no, the feminine being a manifestation of chaos goes back thousands of years as a concept. Jordan Peterson isn't even 60. If you'd like a real discourse on why chaos is feminine, that's for you to search out on your own.
That was Refreshing.
Have to think about it. Then watch the Full episode
Thanks Lex
"Oh, so ur gonna tell us the whole trojan horse story" 😂😂😂😂
Why tho OMG LMAO 😂
Terrible analogy
@@WyattFantana I was wondering...if the Trojan Horse was used to destroy Troy, what is Bitcoin going to destroy?
@@mknow1 The establishment financial elites. To a degree. They'll still be around, but have less power. In a couple more months, it's estimated that half of the World's Billionaires will be Crypto Billionaires.
@@mknow1central banks and centralized power structures
Bitcoin is less of a Trojan Horse and more of a primer, getting citizens used to the idea of having entirely electronic currency. The trick is that our currencies are already electronic. However, governments are currently unable to track transactions on the micro level. With governments introducing their own "crypto currencies", they will be able to manage/control their citizens on an individual level, similar to what some governments are currently doing with social credits systems.
While a lot of people will be introduced to the "primer" that Bitcoin is, some will take the time to actually understand the technology and how it works and those people will teach others as they are introduced to it. Bitcoin is so much more than electronic money. The longer they allow Bitcoin to spread the "gospel", so to speak, of what electronic money should look like... the centralized options will fall short and people will continue to CHOOSE Bitcoin.
"Satoshi nakamoto" in Japanese means, "intelligence of Central origin" ...... Was it created by the CIA? Have they already created blockchain mapping algorithms allowing them to trace and track public keys and transactions? Who knows.... I like btc btw, just food for thought
@@mdevidograndpacificlumbera1539 that was crazy, had to screenshot that one. Damn 😳
NSA created SHA-256
It’s definitely a trojan horse but not how it’s explained in the video more like this comment 💯
Nailed it
If there is any point in time in which I could not access a network; how would I access and use any digital currency currently available?
I have asked this question many times of bitcoin owners but to date, no-one has ever answered me......
It was the Iliad by Homer that had the tale of the Trojan horse by the way. The Aeneid by Virgil is the consequent story of Aeneas escaping the city after Trojans lost the battle.
No… the Trojan horse is in book 2 of the Aeneid. The Iliad primarily focuses on the battle between hector and Achilles as a part of the epic cycle. The horse is in the Aeneid…
This guest is a complete moron giving High School analogies!! lol haa. Regarding Bitcoin it can be stopped if you just closed the exchanges like Coinbase, next the CIA might have created Bitcoin, finally Bitcoin is NOT a threat to the U.S.!! You are buying Bitcoin with Dollars and Sell for DOLLARS!!! Hello!!! Bitcoin is not even the same market cap of Gold. I like Bitcoin, but this guy is so ridiculous!!
He's talking his own book.
@@CoryPchajek I actually do know what I am talking about. This man is a raging Moron.
@@2311ification you are right. the reality is exactly the opposite of what he's saying. unreal 😂😂😂
Lex interview Nick Land, he's been working on bitcoin as philosophical critique
hey! ive seen that painting! i work at the museum it's hanging in! neato
You will use the FedCoin and you will be happy
Or you will keep the Fiat and you will be poor
I think he meant to cite the illiad but I believe the trojan war is also included in the Aeneid
As I said in another comment, the Iliad is only one part of the “epic cycle” (one of only two surviving parts along with the odyssey). The epic cycle is the entire Trojan war whereas the Iliad only focuses on one specific part - the duel between hector and Achilles (the last line is literally “thus were the funeral rites of hector, breaker of horses”) The only account of the story of the Trojan horse itself is from book 2 of the Aeneid from Virgil and is where we get the famous line from Laocoon “do not trust the horse, I fear Greeks even (or especially) carrying gifts”
@@matthewrusthoven6555 thanks for sharing, that was actually something i didn't know
@@matthewrusthoven6555 No. The Odyssey also mentions the Trojan horse story.
@@Charles-Anthony it mentions it yes, as it is a part of the epic cycle and chronological takes place after the war itself. But the most detailed account of the horse itself being brought into the city still comes from Virgil and the Aeneid
It's a double edged sword. It also records all financial transaction information and makes it readily available for public viewing. It doesn't matter if you can't identify who owns the account at first. Once you do identify accounts you can readily track all of it's history and future transactions. All without the need of a warrant. It's powerful but it has its draw backs for sure.
Complete openness is more powerful than anonymity.
@@KjtheGreatPro I think he's refering to just not caring who knows what food you buy and all your other meaningless spending. Only reason to care if they are tracking is if you're breaking the law. social security and bank accounts are a completely different world.
They covered potential anonymity solutions in the video..you’re not going to be able to readily track anything
And what happens if the govt outlaws something that you don't mind breaking the law to get? You're screwed. Many laws are arbitrary garbage, and if the govt can track every transaction you make, you can kiss any semblance of freedom goodbye. Mr. Fuckin Law-abiding Citizen over here.
@@daver12591 Wow, dude. It's impressive that you can live in the 21st century with no bank account or credit card. Maybe you should do a podcast with Lex.
Lightning is a pretty cool solution for some of BTCs issues but compared to what other projects can do, it has some significant drawbacks. You can only do so much to a Ford Model T. At some point (now) you're better off just keeping it as a collectors item and perhaps an occasional jaunt around the neighborhood.
this help seed coin site is in english how can i buy from there
Part of the ponzi scheme is to maintain faith in the scheme. Not a single person with a dime in an investment will ever speak ill of it or cast even the slightest doubt, lest they work against their own interests.
Elon musk said tesla stock was too expensive lmao
As opposed to fiat I presume? All money is based on perception of value. I’m interested in your opinion. What, specifically makes crypto a ponzi in the context of your statement?
@@hobart007 Because the fact that it can be used as money (for virtually nothing after 12 years) but is primarily used as an investment by mostly people who don't understand it other than that you can make money if you time it right...? But mainly because the entire premise of it's value is based on people investing in but not selling. It has already collapsed before, and it wasn't a fluke. The only thing that kept it above $5000 was the hodl dolts. The only thing that boosted it's value from the last collapse was a bunch of middle income folks dumping their stimulus into it. Eventually the stimulus folks are going to want their payout, it's already fluctuating by as much as 50% a month, which means it can't possibly be used as money or a solid investment.
@@hobart007 you don't need internet or electricity to use fiat and it is hard to track too. The only thing fiat does not protect you against is hyperinflation but bitcoin is hella volatile so what gives
You guys have 0 idea and are broke
When was this originaly aired the whole interview
The elephants in the room are electricity and internet connection. Take away either of these and you have no access to your wallet.
The exact same thing is true of the US dollar which is fully digital and backed by nothing. Sure people have cash, but average people do not have enough cash on hand to survive real shit hitting the fan. Nor will any banks allow people to cash out when big infrastructure collapses
Solar. lol. U think the internet is going to crash.
If that happens, it doesn’t matter what you have for money shit will hit the fan
@@privateprivate5814 It can definitely be limited and manipulated, and yes crashed locally.
May not have access to your wallet but as long as the chain remains active your funds are safe. You can physically destroy your wallet but as long as you have your encryption key, you can reconstitute your wallet. Other newer blockchain tech (gen3) with eUTxO tech can take the individual eUTxO off the chain and spend it like cash... Do your homework. This tech is the future of money
I’m surprised...they didn’t make the critical distinction between bitcoin and in China’s case, national digital currency. These are two wildly different systems.
Thanks for watching, I'll introduce you to a life changing investment..
Text me now via ☝️☝️
It only decentralizes components of the financial system.
You still need electronics and power to access your “money”. You still need other hyper specialists to produce the goods and services you can’t provide for yourself, including these new protocols, exchanges, coins, what have you.
The coin may free you, but you’re still a slave to access protocols. Just like the internet- the truth/information is PROBABLY out there, but if you can’t access it….
This doesn’t solve anything, just kicks the can further down the road.
Consumable resources > Gold > Fiat > Credit (Debt) is an appropriate analysis.
It IS a Trojan horse, just not for freedom.
There’s something deeper going on.
@@Alexius1Komnenos I don't know how you can say all that without acknowledging that the world operates on the faith of the US dollar. That's untenable by your own metrics. Think man.
Bitcoin is a freedom tool from governments central banks that are robbing our time & energy by de-basing our currency. Currently at 67k. 8 days b4 halving.
That is the sense I get too, a 'Trojan horse for freedom' is missing the lesson of that ancient myth
Yes exactly, let me finish your premise, it is a Trojan horse for the entire global financial system, shifting towards Blockchain technology, providing the rails for instant settlement across nations, which also can help solve the global equity crisis that is looming, via a Euler, few cryptocurrencies, which you could see as the men inside the Trojan horse as XRP, XLM, XDC, HBAR to name some powerful TECHNOLOGY and UTILITARIAN cryptocurrencies, rather than the 30,000 other cryptocurrencies, who, for the most part are just moving up and down due to speculation, including bitcoin.
Bitcoin is potentially a decent store value, and I’m not sure if it will go away or if it will end up at US$1 million per bitcoin, I could see it playing out either way, but it certainly is a Trojan horse but it is certainly not a Trojan horse for freedom lol
NOT FINANCIAL ADVICE (check out XRP, HBAR, XLM, XDC)
Miss out then
Such an interesting perspective brought to light
00:02 💼 Bitcoin's resilience against governmental pushback stems from a mix of technical, social, economic, and political factors.
02:55 🐴 Bitcoin operates like a Trojan horse, enticing even those who oppose freedom with its allure of financial gain.
04:32 📈 Bitcoin's value feedback loop amplifies interest, leading to more adoption, development, and security.
07:06 🌐 Bitcoin aligns individual greed with the promotion of a freedom tool, creating a unique incentive structure.
09:04 🔒 Exchanges adopting Lightning Network for cost efficiency inadvertently promote privacy benefits, despite their primary focus on profit.
10:10 💰 Collaborative spending innovations in Bitcoin, like cross input signature aggregation, may enhance privacy while reducing costs, driven primarily by financial incentives.
I think this dude is the personification of FOMO, he just seems too excited and not mentioning any possible bottlenecks to his ideas.
The environmental concerns alone seem at odds with the societal shift that is inevitably coming (and has started, probably) in the next generation.
@@iorekby the environmental impact of fossil fuels didn’t stop anyone.
Those were my thoughts; the blanket characterization of 'government as oppressor' is really misguided. Human nature, the tyranny of the majority, and multinational corporations are much more dangerous than 'government', especially democratic republics like the United States. National currencies exist to help facilitate economic stability and trade, but also are used to provide resources and benefits to the poorest in their respective countries. Imagine a US where the dollar is no longer a reserve currency, and it can't afford to service its debt, provide social security, sustain its infrastructure, etc. Democracies are flawed, but without their collective power, individuals have absolutely no power against the top .001%
@@joe5333 you're a big fan of fiat eh? what's better than the benevolent government monopolizing money through violence
@@trel9388 It's a necessary evil. It's better than Bezos or Elon or some Saudi oil kingpin controlling it, tbh. At least in democracies we can vote representatives in and out. Government's our only tool against corporate tyranny.
This is like listening to a child talk about how a car works.
Very interesting, thanks for this👍
Ty to all the big brains . Being a grunt I really appreciate your thinking process.
Hmmm interesting… I think their is an Einstein somewhere inside that brain of yours
The first rule of fight club comes to mind here.
I'm sure the world is going to be awesome when we spend 20% of global gdp on processing power to mine more theoretical numbers we can't eat.
Good point bro, you just proved that Bitcoin sucks. Let’s keep letting like 12 people decide how much money to print and when. You’re a genius
@@parmenides2576 wasn't it 13 people? Did one of those die already??
@Vebunkd idiotic statement lmao
@@iura_ch maybe it’s 13, point is it’s a very small number.
@@tupd that is actually an irrelevant point. The feds decide monetary policy through intervention directly with private banks and now private corporations as well. Crypto infrastructure is highly decentralized regardless of if the NSA created Bitcoin or not. What’s funny about how stupid you are is that we KNOW the fed runs the fiat money supply, you don’t KNOW the feds are behind Bitcoin, you’re just paranoid
I will say. Hes naive on lightening. For any number of nodes in the lightening network and a path size P from src to dst, for any probability p: 0 < p < 1, there exists, a threshold number of nodes N such that if the bad actors own n > N nodes, implies there is probability p of your transaction path being compromised by bad actors logging your data along the way and using it to reconstruct the route.
It shouldnt be shilled as a privacy tool to that level, if tax evasion or illegal things want to be done an individual wont be safe. In particular that if a group of bad actors want p probability of catching people, then there is a finite number N nodes in lightening they need to control.
It is fundamentally unsafe to shill it as a legitimate privacy tool
That's why we have monero, zcash, and now panther protocol. Panther being a real Trojan horse. Putting zero knowledge proof tech in as a layer 2 on any blockchain is insanity. The potential is incredible. Being partnered with elrond to help make this happen only makes me more bullish
They are just selling it honestly.
@@LuciferArc1they all pale against Pirate Chain with zk-SnarKs
This guy on the mic is wrong. It's psudo private...
His thesis isn’t about privacy. It’s about government not being able to inflate the currency or control the quantity of money.
No offence he sounds kinda naive. Bitcoin can grow but it'll lose it's original power as something decentralized. Governments are just gonna find ways to regulate it, why would they give up their ultimate weapon?
Well if bitcoin becomes the reserve currency the country that has the most will win. So America will be way richer than China, as most btc resides there.
why will it lose it decentralization due to growth?
@@kieranhoward4684 Americans are buying BTC for free with USD paper fiat bills. Meanwhile, China banned it and prevents their people to buy more, and even crackdowns the chinese miners out of China. These two recent moves were DUMB. Because nowadays everybody is learning that fiat money is poison, and in just a few years from now, it won't be hard for the most of the western countries to "agree" that BTC and other assets can be considered as hard money, and probably accept it as reserve currency: that will be FAIR. So the nations that have more accumulated will become instantly wealthier than Chinese. If Chinese won't accept the BTC as exchange, they will be paid with paper USDs for their hard-earned goods, but they won't be able to purchase from other countries with their accumulated, useless paper fiat. That will be the end of China, apparently.
More like you are aligning your idea of what humans are to your own person interests in tech...bro... Lex, thanks for your work!
The US dollar is backed by a dozen aircraft carriers, the renmbi is backed by a billion rifles, the ruble is backed by vast oil reserves - this is the hard currency for some time still.
You need a device that is controlled to get your bitcoin. Meanwhile you just need to go to check cashing to get your cash. Cash you can't track unless you give your email or phone number.
How is Bitcoin freedom when you need controlled devices phones and computers to get your Bitcoin.
Please explain
I've tried to understand BTC but it just doesn't make logical sense to me. I don't understand how it has value outside of "maybe someone else will buy this complicated math solution from me for more dollars/ usable currency than what I paid for it". Then there's the infrastructure that must remain intact to be able to use it (which is not something that's widespread eg I can't buy my groceries with it) which is controlled by governments, at least partially. It seems to be nothing but smoke and mirrors, the tulips of the 21st century. I guess I just don't get how it's of any value
Bitcoin is like religion. It does not exist in reality but in peoples mind and imagination.
How do you get the value of gold? Its just shiny metal thats mostly valued bc of it (20% on industrial use). What about real estate? People can live in a house in Alaska just the way they live in NYC, but why is one more valuable than the other one? Value of anything is what people address to it. BTC is the engineered perfect scarce gold 2.0.
@@BS-br2ej gold doesn't require the internet or even electricity to be a medium of exchange and a store of value. Same goes for real estate
@@dannyschwertner7785 So, because property is "grounded" physically, the value is understandable? And can vary between NYC and Alaska houses, long as its a physical object? Apple and Microsoft stocks rely on internet and electricity to be of any value.
Gold is a poor medium of exchange and as a store of value (look 100y in the past inflation and wars for example). But you've got a point. The only thing gold has over BTC is the possibility event of total electricity grid breakdown and return to medieval time.
Do watch this, as it explains BTC in the most comprehensive and interesting way:
th-cam.com/video/6sPR0O7issU/w-d-xo.html
@@BS-br2ej not interested. Buy all the BTC, Ethereum, tulips, beanie babies, you want.
And for the 64,000 dollar question.... What the heck makes bitcoin worth $64,000.00?! Answer: The same thing that will make it worth a million dollars!
Belief
is the only real form of value
It’s the same thing with Gold also but no one has a problem with that.
And people take USD every day all over this world, and that’s not even gold backed anymore
70k*
Put the inception theme behind what this guy is talking about and he would sound epic
and it would be appropriate
Great interview....
Beware sellers who feel the need to use acronyms and buzzwords that no one else uses. It's the trick of a scoundrel
You can't stop me!
This guy looks like a digital version of himself
so true wth😂
Lmfao
Lex gpt
What do you think of other chains?
Inside his Trojan horse is another Trojan horse called greed
I guess you didn't get his point
@@mikerinaldi7170I guess you didn't get the point of OP
Greed is the Trojan horse, freedom is what's hidden inside
Patriots remain inside a single currency? Unpatriotic to use any money besides greenbacks
Thankfully BTC is decentralized
Hilarious, something digital can never be even 1% as secure as my gold, which you will never find.
This sounds a lot like the prevailing mood at the beginning of the www (ca. 1990).
Lettuce pray that it turns out better this time.
Where'd you hear that from ?
Yea cause praying is what evades catastrophes.
Don't bother praying. It doesn't work.
@Charles atheists triggered by a figure of speech to the point that they miss the whole message. Way to show those Christians!
@@kevinconroy6606 "freedom go up" tech is nonsense. The idea that technology will save and liberate mankind is a delusional bit of faith. The issue of money's grip on the world will not be broken by neither technology nor religion, but by political struggle rooted in the values of justice and freedom. Praying does not work.
This is why on chain scaling is stifled. Number go up, but freedom doesn't if you're using some third party rent seeker's solution for commerce.
Lightning is a third party off chain solution. It seems like a centralized solution. Why are bitcoiners raving about this? It seems to be everything they hate
Blah blah blah
@@jdivision79 ikr. ppl don’t seem think BTC/crypto can’t be manipulated. And govts have near endless money and time (and legal leverage) to crack whatever privacy controls exist.
@@jdivision79google icp chain key btc scaling solution
@@MrSuperG google icp chain key btc scaling solution
This clip was great...
Excellent food for thought
What is backing bitcoin and for that matter what is backing the Dollar after they removed the gold standard . All of it sounds like a lot to do about nothing . Or does one just hope they are not the one left holding the empty bag . And yes I am really asking these questions . I see a lot of people talking about winning with bitcoin but that must also be others that are losing .
The network of nodes all over the world back BTC. Its an open , immutable ledger. That is what gives BTC its value
The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the government to bring in money especially now the pandemic is hitting the economy
you are definitely right , waiting on the government is a big waste
Investments are the stepping Stones to success especially if you been guided by a professional
Investing is good but investing in the right thing is the actual key to success . who is your pro ?
That was exactly what I did, I trade with a professional stock expert "Tamara Diane Hagan " who i met in one of the seminars..
There are so many investment out there but if profits must be considered then not all investments are good to go into.
It's ludicrous. Decentralized of you have a server farm. And the power plant to run it.
I largely agree. However, the Lightning Network is not a solution. It doesn't scale and routing is NP Hard. "Good enough" routing algos break down regularly on Lightning making payment fail because the topology changes fairly often (nodes go offline, channels close, other channels open etc.).
Thank you Adam Back. We know who you are and what you've done for the world.
what about Hal Finney?? We know for sure he had contributed to the bitcoin, and he probably owned most of the pre-mine.
@@juliansoto2651 There was no pre mine on bitcoin. Hal took part in the first transaction so he will always be remembered. But Adam is Satoshi no question about it. Watch "barely sociable bitcoin" ignore the negative stuff in there that's just the jealous American filmmaker, everything Adam Back did was perfect and to stop scumbags ruining this perfect money
"They just care about number go up" says a lot about society
Big number make me bigger happy
Is this help seed project reliable?
Rule #1 - If something sounds too good to be true, it is a lie .
I freaking love how this guy thinks. People wont care about what's going on in China or somewhere far, but they will care about their money and investment. So how do we help these people when greed is so powerful
Buy bitcoin, that’s how.
Alias: It is human nature to care about those close to you more than those far away and that will never change. This is because those close to you effect your environment and care is more likely to be reciprocated. Self interest in bitcoin means those far away will also have access to these tools who really need them.
Speaking of China...
24 September: *China declares all crypto-currency transactions illegal*
And yet this guy says that Governments are embracing crypto for profit. Human rights activists detached from reality.
It's not greed.
you buy bitcoin, that's what he's saying, it's the first time where greed incentives and altruistic incentives align. You can now make the most selfish/greedy decision and it's the exact same decision and contribute to greater equality in the world.
Im starting to think crypto is a honeypot.
I love that analogy
Does this mean though that the share price will eventually go down? Or will I continue to grow and grow?
We are all early. It will grow for at least 10 more years
Hang on...if you have to explain to someone what a trojan horse is, I don't think a conversation on bitcoin is for them. 🤦🏻♂️
Bitcoin seems like a great idea as long as governments don’t block internet access…
If they do that you don’t Need crypto at all bcs That means war!
That’s why you want such systems for everything #HNT make the Internet decentralized
Or once the banks own the lions share
If that happens then we have bigger issues lol.
blockstream satalights
Great Clip!!
Sounds great but how do es one get to their Bitcoin when the grid goes down for several weeks?
I have some tulip bulbs for sale and the number of bulbs slowly increase each year. Everyone wants them.😂
Yeah paper money the fed prints trillions of out of thin air has much more value!!
It doesn't bother you that there are other flowers people seem to also enjoy? Ones that don't seem to be increasing at the same rate.
😁
Douche
Seems like inventing something out of thin air and drumming up craving for it, inventing marketable qualities like "freedom" and "privacy" and then coming up with a lot of complicated buzzwords that make it sound important and fast forward future, thus hooking more investors at the bottom of the pyramid. What's the upside?
So do you invent it out of dry air instead?.
Btc is the separation of corruptible government and money. Crypto does not have inflation, decentralised , the relative purchasing power pararity of fiat is the true scam of the world. your $100usd today is worth $10 in 5 years. Cryptos i
Are deflationary. Your $1mill house is actually $300k in 5years because relative purchasing power pararity due to inflation reduces the worth of your dollar. It's basic economics, anyone who understands basic economics understands crypto is the future. That's why China banned it, china bans anything that allows its citizens to be free and deflationary fiat(crypto) is freedom.
@Mike Mo you clearly don't understand anything about crypto, your argument is wrong. You say usd is backed by gold when it is backed by money printing and the devaluation of the dollar to stay ahead of the huge debt that will implode the usd. You can't money print your way out of problems with crypto. Broke Banks can't be saved by corrupt governments with crypto. Crypto is a store of value that can not be changed, that is the ultimate value of crypto. The value of a fiat that can not be corrupted by institutions. Keep shorting tsla, it's working out for you I'm sure.
@Mike Mo then go put all your money in gold if you believe physical scarcity is the future, lol 😂 even a fossil like buffet knows that is for chumps.
@Mike Mo physical deed is in the block chain which anyone everyone can view and nobody can alter because. Everyone has to verify the change . All governments will eventuay have land physical deeds on a block chain aswell. It is the future, you should research a bit, you are very ignorant.
When a dictator decides he want your land he just changes the deed at the government that stores the deeds, can't do that in a block chain. Your arguments are mute.
@Mike Mo not going to reply anymore you're actually using the argument that "coin" has to have a literal meaning lol.
Could you comment on SHA-256 within bitcoin being created by the NSA?
How do you leverage bitcoin? It is essential In most wealth development to use leverage.
Thats the thing, you can’t, why would anyone take a loan against it when you may have to pay back in super high interest because the price of BTC went up
Wish he would have talked about specific platforms, and whether Ethereum could handle the joint transaction platform.
Minerva was the Roman version of Athena
How can I get help seed coin? can you help me?
Interesting take. Not really interested in buying any but for those who want it, i hope it works for them.
There's more than just btc, look at smart contract tokens to see the future
The obvious strategy for the government is to produce its own digital currency, provide an exchange for bitcoins for x number of days, and then to prohibit all commercial conversions into money, goods, or services, under penalty of seizure of all assets including piercing the corporate veil. The value of digital currency is it provides perfect traceability of all monetary transfers which in turn provides the economists with the information necessary for measuring the sustainable networks of specialization and trade, which are the intermediary measure that would permit economic prediction that is unavailable today.
Really interesting take. Maybe a stupid noobie question, but how would it be possible for govs to completely trace who holds bitcoin, what they're traded for, and who they're traded with? Isn't it possible to hide these activities to get around such legislations?
Hard to do that in every country.
@@allief1662 It can drive it underground, create volatility, collapse its price. If you can't get money or goods in and out of it then it's useless.
Cbdcs
_"The obvious strategy for the government is to produce its own digital currency"_
"The government" will not do this, because most all governments globally have given over their financial sovereignty to private central banks. Central banks, however, already have the entire framework ready for CBDCs (Central Bank Digital Currencies) which will be wholly controlled and opaque cryptocurrencies which will be used to enslave people. Read up about the horrorshow of CBDCs and realize why we need to invest RIGHT NOW in legitimate forms of crypto. The central banks WILL make serfs of everybody, given the chance.
To fight back we need privacy coins like Pirate Chain.
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So how does this exactly help freedom and humanitarian goals?
Enjoying the game theory gears in real time!
I wish that someone from tech and finance comes to talk about bitcoin and blockchain in general... also that has a bit more critical view.
There are some good questions to be asked:
1) what about PoW vs movement towards less waste of energy and green tech
2) what if Gov decides to ban all crypto related activity on internet? Ban exchanges and force ISPs to comply? It will make it harder for average Joe to access coins
3) what if BTC is honey pot set by Gov just after financial crisis unfolded?
4) in what shape or form btc actually improves freedom? There is TED talk from former prosecutor that used btc to track criminals
5) if btc is the future why there is so little pricing done in btc but fiat is still widely used
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1) what about PoW vs movement towards less waste of energy and green tech.
We use energy to secure the network. It is not wasted energy. It is used for security. The market determines how much security is needed. Lightning network is basically proof of stake on bitcoin. The market will determine what transactions are needed on base layer and how much security is needed.
2) what if Gov decides to ban all crypto related activity on internet? Ban exchanges and force ISPs to comply? It will make it harder for average Joe to access coins.
Yes the government is very powerfull at the moment and they can do all sorts of things to hurt, slow down and extort their citizens. Don't support these actions. Support freedom. Freedom not so high right now but like this guy said, as the network strengthens freedom goes up.
3) what if BTC is honey pot set by Gov just after financial crisis unfolded?
Answer that yourself, come down the rabbit hole. We all started as skeptics and answering those questions is an important part of understanding.
4) in what shape or form btc actually improves freedom? There is TED talk from former prosecutor that used btc to track criminals.
Freedom to controll you own money. Freedom to save in way that the government can't steal from you with inflation, confiscation, or exclusion. when you hold your keys no one can take it from you, you can only give it to them. Government can track things on chain and put resources into finding those people but they can not stop the bitcoin transfers or confiscate bitcoin when people hold their own keys.
5) if btc is the future why there is so little pricing done in btc but fiat is still widely used.
Fiat is 100x bigger then bitcoin. If you start pricing things in bitcoin you will you your wealth wither away and it will change your perception real quick.
@@alexleach4002 Thanks for taking time to form a reply. It was very informative!
@@ukaszferenc5249 Yeah buddy I love to talk about it, thanks for asking.
I never lost as a beginner, ever since I started Investing with MR. MARKEL WILLIAMSON, winning and profiting has been certain
Propeller Protocol is gonna explode anytime soon 🔥
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The corrupting effects of power and control are worse than the corrupting effects of greed alone.
i used the same analogy time ago and i was taken insane by my friends
I think they are missing the fact that BTC does not have good privacy.
Why?
@@greeeng Bitcoin is not evolving at all. That's the defining feature of Bitcoin, it hasn't actually changed in any significant way. Unlike Etherium and Monero wich are still being developed.
@@ElGnomoCuliao except for monero and a few other cryptos, all transactions are visible on a Blockchain. All you need to do is figure someone's wallet address and you can see how funds get moved around.
Not sure you understand how the tech works
@@sanjacobs6261 except for taproot which was a big change to BTC. And segwit
The more I hear a story the less I hear an answer. Which often seems the case with bitcoin conversations.
Because it goes much deeper than the picture that is being painted at the moment..
And maybe your question is irrelevant. What are you looking for in BTC? Because answer is very simple no matter what question you are going to ask.
So, how does that Bitcoin work when the power goes out?
Ugh! Cheerleading for Bitcoin, as with the TV and computer before it. Bitcoin is a novelty disguised as change.🤔😊
It’s clearly allowed to exist. To act as if it’s just going to “take over”currencies and markets organically is hilarious. It’s the one world currency that we have all heard about. So yeah it’s a Trojan horse but not the way this guy would have you believe. IMO
Yep, prob came out of a DARPA think tank. Satoshi my ass
@@masonsmith1300 Thow in the 'BTC Miner' bit and you have a cosmic joke.
Damned if you do, damned if you don't...
My objection to Bitcoin is this. No business wants to transact in a currency that fluctuates in value per quarter and no one wants to invest in things that don’t go up. Therefore, Bitcoin has to be completely useless for one of those applications to succeed. It’s not getting adopted with volatility and no one is investing in it without volatility
With a limited number available, seems the value of a digital sequence with limited intrinsic purpose becomes limited. It seems at that point to resemble a genuine antique in the art of stealth. It has to compete with inflation and other stealth antiques like a worn-out hijacked Tesla at some point. Maybe it will resemble a brain implant that goes unsupported after 20 years. I have to guess at the timescale.
The issue I have with crypto is that nothing material actually underwrites it. You could argue that the ledger itself underwrites it, but the value of the ledger is based strictly on it's popularity. There are now literally hundreds of different crypto currencies, each with their own ledger structure. At some point it starts to look like the NFT con. Yeah, your ledger/blockchain is unique, but it's unique in the same way that a pebble on a beach is unique - there is such an abundance of unique objects, that each individual object has very little value.
As problematic as traditional fiat currencies are, they are at least underwritten by the brick and mortar systems of government that administer physical nations.
No internet it's worthless
True but what underwrites it is math that can't be fucked with. Yes the us army and etc underwrite us dollar but at the same time money printing aka they can do whatever they want with it. Each has pros and cons
Beautifully expressed. I've tried to express this before, but my attempts have been clumsy in comparison.
He makes a dumb argument .. you should feel proud. 🤣
Ever wonder about a run on the bank,
when the Bank is a digital apparition?
Could Be Bad.....
this is uplifting!
First rule of fight club is that we don't talk about fight club
Self-interest is OK - it's why we value our personal freedoms.
As long as your self-interest doesn't destroy others.
It's not always OK, selflessness is also a virtue. The value of "personal freedoms" is both vague and subjective. Might want to study philosophy a little harder.
@@sanders555 it’s always ok. People are not beholden to your moral world views.
@@sanders555 So what? Who ever said self-interest and human decency can't get along? Some of your TAs and know-nothing young friends?
Nobody knows where it came from.
Nobody knows how it works.
Everything has a back door.
What could possibly go wrong?
It'll be the best thing ever until it isn't...
Strengthen the power of the individual