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Please Andreas, more advanced conversations like this. I know everywhere isnt MIT but I believe at least 20% of your watchers like me are ready for talks like this and want more.
@@abdubeejayjay8445 I built my first LTC miner April 2013. The difficulty of BTC with Asics was already too hard. I thought I missed the boat. I was mining 9 LTC per day back then with 4 miners I built out of computer parts and the best video cards you could buy. I live din Florida then and my garage was an oven. Im 60 now. I was 50 then. No one in the Tampa area and I mean no one knew what the fuck I was talking about. My wife thought I was insane. Anyways, thats the good old days. Everyone thought I was crazy. I knew I was right though.
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 200k to a decent 632k in the space of a few months... I'm especially grateful to Karen Cosmann, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
Cosmann expertise in customizing investment portfolios based on changing market conditions and personal risk profiles is exceptional. It's not a one-size-fits-all approach, which is crucial in crypto investing.
Isn't that the same Mrs Karen Cosmann that my neighbours are talking about, she has to be a perfect expert for people to talk about her so wellI'm new at this, please how can I reach her?
Andreas Antonopoulos one of the great human beings alive today. Technically literate and good at public speaking at the same time, that's a rare trait... Amazing guy !
Andreas not sure if you read/reply to comments but what happens if the major minors form a cartel to reduce the mining block time to 1 min or 30 seconds by deliberately cutting back hashing power (which still puts them head and shoulders above the rest). They could then gradually reintroduce hashing power to mine 10 or 20 or 30 blocks in a row. Further, what happens if government develops super computers or quantum computers and creates a mining monopoly
What's the point? Digital fiat transactions are not anonymous either, but you can go to ATM, cash out and you have anonymous currency. Just because it's possible to trade it for something anonymous doesn't mean it itself is anonymous.
I am bothered by that too @ 22:00. The reason they don't like it is because JA is focusing in on the real enemy. He's part of the solution and not the problem.
I attended multiple meetups and hackathons with Andreas hosting along with other cryptocurrency events. I remember 11/2013 attending a very fun/informative Bitcoin course by Andreas in the Dog Patch area of San Francisco. Merkel trees were explained like arithmetic.
Pan Flashing MIT TALK :>) Walking "all u Need 2 Know source! 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
lmao at 57:00. that's true. they should have changed the terminology, but I guess they do so for association purposes. When i mention bitcoin, peoples first interpretation is a physical coin. How about we just stick to "intangible asset"
So what happens when quantum computing comes along that will make it effortlessly fast for anyone with one to compute the hash for the blockchain so computational complexity alone cannot be used as a trust metric?
+Jayakrishnan Nair We do not know how powerful a quantum computer if even applicable would be and such a computer would not magically remove computation complexity. If such an incredibly powerful computer does come in to use then the Bitcoin network would switch over to using them and you would have no problem.
I agree, the only way for that to actually happen would be for someone to spend many years underground developing a quantum computer that not only could be applicable, but also needs to connect to Bitcoin via the web as seemlessly as a normal computer, which already is a bottleneck for the quantum computer as computers and data are not wired with "quantum" wiring, which i have to assume must need more wiring than a basic computer. Thus any introduction to the bitcoin universe of a quantum computer would be obvious and slow. A the end of the day all of our wireless signals must go through "wires", however small they are......
What happens when we have real star wars lightsabers and we gain full knowledge of the force? Bitcoins will only be good on tatooine then because republic credits will take over the majority of the universe.
cryptography will evolve alongside this technology, as hashing power increases the complexity of the algos can be increased proportionally to prevent this kind of attack
This just shows that tech geeks will be the most rich. Those jock football players will end up with 30k a year job while tech geeks invested in bitcoin before 2017 since they understood how it works and how it's not a scam and realized how valuable it is and got rich lmao
300,000,000 * 1Ghash DNE 42 Petahash? There are 1M Giga hashes in 1 Petahash. There is a 600x factor for Seconds into 10 minutes. Did I miss something?
Hi... I'm a complete simpleton and know nothing about computers or crypto currencies... I have a small property with a garden plot, a chicken coop, an old pickup truck, and work as a pipe fitter and welder. What does all this mean for people like me? I've always distrusted the banking and monetary system and did my best to function independently of it. I'm all for 'democratizing' currencies and putting power back in the hands of the people so they can determine their destinies. If digital currencies grant people more autonomy and sovereignty, then great. However, what does all this mean for 'peasants' like me who are not involved in this digital world, and quite frankly, have no desire for it? Assuming digital currencies take over, I don't see what will stop the richest and most powerful people from acquiring the bulk of digital currencies simply because they have the most money to buy it, and/or invest in the computing power to mine it. Sure, some regular folk have jumped in and increased their wealth, but the vast majority of people have not. Furthermore, the success of digital currencies is being measured against already existing national currencies... everyone is celebrating because their digital currencies are worth more 'dollars' that can be used to buy tangible assets. Even if the currency is digital, life is still analog. I may just be a dumb welder, but I know that digital industries are heavily dependent on mining and oil. And is it true that a single Bitcoin transaction consumes enough electricity to power three average sized homes for 72 hours?! If so, how is such a resource intensive system of currency sustainable? It seems utterly wasteful to me that buying a pizza with Bitcoin would require dozens or even hundreds of times more energy than was required for the pizza itself. I'm not a naysayer against digital currencies, I just don't see how any system can fix problems that are predominantly psychological or 'spiritual' in nature.
You are not dumb! You've acquired some of the most valuable treasures. The best use for bit coin is to save a couple and turn the rest into more of what you've already got plus maybe some small denominations of gold and silver. With that said, I'm packing up to come live out in the country with you and your hens. 😂 💕 😘
BTC for $75K by end of this year& Control of The Currency is already Decentralised And now the China disruption would simply Decentralise the Mining setup for the better
Is it really created by shatoshi nakamoto or AI bots like sophia? Ask yourself dont take information as its given to you! Maybe its a war between humanity and robots on its very ealrly stage, if you dont see that doesnt mean its not happening. Just food for thought
bla bla bla, we know Bitcoin has so many advantages. My question is why is price still increasing (like if it's the only crypto currency) while u have superior coins such as LTC, ETH or BCH with lower fee and price is still not increasing. Is it only because of Infrastructure and merchant accepting BTC, this can flip quickly right ?
Because the coins you mentioned are not superior. Bitcoin could be like LTC or BCH in a matter of a day if people wanted to. Simply changes to blocksize and blocktime. ETH smart contracts are not that unique too and could be migrated too. It is the first, and strongest. If BCH and LTC would have the adoption like bitcoin has, their infrastructure would collapse and even be very succeptible to attacks. Sometimes it is good to be slow and let others do the mistakes. It has its flaws though, adoption is to fast right now, 2nd layer technologies are not there yet. And I dont like the distribution of mining power but it hasnt proven to be a point of failure as of now.
BTC is the gold Standard of crypto. It is 1st generation blockchain. Enhance Security means simplicty and a sacrifice of functionality, that will be resolved in the future with development...
Wish I had watched this 8 years ago!
Andreas = legend
Ham
jesus this is a legend..
Please Andreas, more advanced conversations like this. I know everywhere isnt MIT but I believe at least 20% of your watchers like me are ready for talks like this and want more.
YES DO MORE!!!!!
@@LastGateFitness yes. He is the reason why I got into this. Watching him on Joe Rogan podcast back in 2016.👍
Bro you bought some btc ??? It’s years 9 years ago
@@abdubeejayjay8445 I got in april 2013. I met Andreas in Orlando fall 2013. It changed my life forever.
@@abdubeejayjay8445 I built my first LTC miner April 2013. The difficulty of BTC with Asics was already too hard. I thought I missed the boat. I was mining 9 LTC per day back then with 4 miners I built out of computer parts and the best video cards you could buy. I live din Florida then and my garage was an oven. Im 60 now. I was 50 then. No one in the Tampa area and I mean no one knew what the fuck I was talking about. My wife thought I was insane. Anyways, thats the good old days. Everyone thought I was crazy. I knew I was right though.
Wow. Hearing this 2024. Guys in room really preveledged
I'm from the Club and I really appreciate his time. Thank you for being such an inspiration, Mr. Antonopoulos!
Are you a bilionaire? i am just courios
@@geoms6263 in it for the money, ngmi
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 200k to a decent 632k in the space of a few months... I'm especially grateful to Karen Cosmann, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
Cosmann expertise in customizing investment portfolios based on changing market conditions and personal risk profiles is exceptional. It's not a one-size-fits-all approach, which is crucial in crypto investing.
Isn't that the same Mrs Karen Cosmann that my neighbours are talking about, she has to be a perfect expert for people to talk about her so wellI'm new at this, please how can I reach her?
I'm new at this, please how can I reach her?
she's mostly on Telegrams, using the user name
Andreas Antonopoulos one of the great human beings alive today. Technically literate and good at public speaking at the same time, that's a rare trait... Amazing guy !
incredible.. listening to it in jan 2018 and he still great, true, nice.. like actual ! Love aantonop so much !! +1
Andreas is the best, always amazing to listen too. 23:40 min is obviously our favorite part ! .. ; )
Did you buy and did you HODL
Thanks for sharing this video!
Andreas is the guy...Thanks for uploading
Did you buy and did you HODL?
this was seven years ago! mindblowing at min 33:00, because that´s whats allready started happening .
Great talk on Bitcoin security and applications!
oh man, the most interesting part of the Q&A has no audio. god damn it MIT, you had one job
Great lecture, I found it eye-opening
Cheers
Thanks MIT Bitcoin Club. Here's a $1.00 ***** Mad respect for Andreas
EPIC
Andreas is a beast, pure hardcore!
Oct 2017, BTC is at $110 Billion!
You still hodling?
Andreas explaining fungibility in front of a blackboard with probability results: The Inclusion/Exclusion Principle. Those were the Great Days!!
OMG napster!!!!! such a good call. the industry basically shot themselves in the foot by trying to fight the internet
WOW never seen him nervous before.
what a great lawyer!
FYI, the model T could travel up to 21 miles per gallon
I watched this 3/21/22
Andreas not sure if you read/reply to comments but what happens if the major minors form a cartel to reduce the mining block time to 1 min or 30 seconds by deliberately cutting back hashing power (which still puts them head and shoulders above the rest). They could then gradually reintroduce hashing power to mine 10 or 20 or 30 blocks in a row. Further, what happens if government develops super computers or quantum computers and creates a mining monopoly
40:00 wtf?!?
Then he states “42 peta-hashes/sec” now Oct 2023: 482 EH/sec!!!
300 billion.....yes!
Minute 25:30, "Bitcoin is not anonymous, convert it to a privacy coin", that's the point !!!
What's the point? Digital fiat transactions are not anonymous either, but you can go to ATM, cash out and you have anonymous currency. Just because it's possible to trade it for something anonymous doesn't mean it itself is anonymous.
So can you say that bitcoin is backed up by computing power?
how do i sign up
I am bothered by that too @ 22:00. The reason they don't like it is because JA is focusing in on the real enemy. He's part of the solution and not the problem.
I attended multiple meetups and hackathons with Andreas hosting along with other cryptocurrency events. I remember 11/2013 attending a very fun/informative Bitcoin course by Andreas in the Dog Patch area of San Francisco. Merkel trees were explained like arithmetic.
Duncan Wallace you must be real rich by now. Btc @ 11000
54:23 I also have a sticker on my laptop camera LOL
Fingernail polish man!! Show a commitment!!
(joking)
Masking tape
53:41 Information Security
Good thing that the Bitcoin network isn't an AI. Imagine what such computational power could do (to us) if it also had artificial intelligence. :-)
09:40, 42 PH by Feb 2015, 474 PH by Nov 2015.
There will only be so many btc though, what happens when someone loses an account or a person dies with a substantial amount of btc in their wallet?
Consider it a donation to the network through deflation.
3miles/18min x 60min/hour = 180miles/18hour = 10miles/hour (slow moving traffic )
it's like listening to Nostrodaumus
Pan Flashing MIT TALK :>) Walking "all u Need 2 Know source! 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
lmao at 57:00. that's true. they should have changed the terminology, but I guess they do so for association purposes. When i mention bitcoin, peoples first interpretation is a physical coin. How about we just stick to "intangible asset"
He should ask them if all of them smoke weed so then whole class would say yes, yes
5:19 the easiest way for them to pursue their self interest is to play honestly
What happened @ 39:59 - 40:03?!? Censored??
I was thinking the same
Illuminati
The information is still there, if you can read lips
transcription pls
How to trash the sound on the video. Well done.
I am such a noob to bitcoin is this something for me ? I dont know
So what happens when quantum computing comes along that will make it effortlessly fast for anyone with one to compute the hash for the blockchain so computational complexity alone cannot be used as a trust metric?
+Jayakrishnan Nair
We do not know how powerful a quantum computer if even applicable would be and such a computer would not magically remove computation complexity. If such an incredibly powerful computer does come in to use then the Bitcoin network would switch over to using them and you would have no problem.
I agree, the only way for that to actually happen would be for someone to spend many years underground developing a quantum computer that not only could be applicable, but also needs to connect to Bitcoin via the web as seemlessly as a normal computer, which already is a bottleneck for the quantum computer as computers and data are not wired with "quantum" wiring, which i have to assume must need more wiring than a basic computer. Thus any introduction to the bitcoin universe of a quantum computer would be obvious and slow. A the end of the day all of our wireless signals must go through "wires", however small they are......
What happens when we have real star wars lightsabers and we gain full knowledge of the force? Bitcoins will only be good on tatooine then because republic credits will take over the majority of the universe.
cryptography will evolve alongside this technology, as hashing power increases the complexity of the algos can be increased proportionally to prevent this kind of attack
Today is my birthday; I am now 39 years old and I live in Bali.
Satoshi Nakamoto are you 40 yet?
Hello, i am napoleon
i think this guy is Satoshi Nakamoto any body agree with me.
No he doesn't seem to be Asian
Gentleman Hack Satoshi is far from Asian. Satoshi = Catch Me If You Can
hahaha
NO. Because I am Satoshi.
Hal finney
I wonder if bitcoin will collide with universal income?
😅oh it will
This just shows that tech geeks will be the most rich. Those jock football players will end up with 30k a year job while tech geeks invested in bitcoin before 2017 since they understood how it works and how it's not a scam and realized how valuable it is and got rich lmao
57:50 Another great mind who actually get it, how Steve Jobs is important
"How many people here are new to bitcoin? Just a couple? Ok."
Looks at price. Well, there's the problem.
300,000,000 * 1Ghash DNE 42 Petahash? There are 1M Giga hashes in 1 Petahash.
There is a 600x factor for Seconds into 10 minutes. Did I miss something?
22:33
The qestions from students are not understandable. He promised to repeat them but obviously forgot about it.
Shoutout to the chick @ 25:00
Not saying its a conspirancy.. but when mentioning holders of last resort... 39:55 *mute*
59:27 billion dollar business... Drrrt 😂
Hi... I'm a complete simpleton and know nothing about computers or crypto currencies... I have a small property with a garden plot, a chicken coop, an old pickup truck, and work as a pipe fitter and welder.
What does all this mean for people like me?
I've always distrusted the banking and monetary system and did my best to function independently of it.
I'm all for 'democratizing' currencies and putting power back in the hands of the people so they can determine their destinies.
If digital currencies grant people more autonomy and sovereignty, then great.
However, what does all this mean for 'peasants' like me who are not involved in this digital world, and quite frankly, have no desire for it?
Assuming digital currencies take over, I don't see what will stop the richest and most powerful people from acquiring the bulk of digital currencies simply because they have the most money to buy it, and/or invest in the computing power to mine it.
Sure, some regular folk have jumped in and increased their wealth, but the vast majority of people have not.
Furthermore, the success of digital currencies is being measured against already existing national currencies... everyone is celebrating because their digital currencies are worth more 'dollars' that can be used to buy tangible assets.
Even if the currency is digital, life is still analog.
I may just be a dumb welder, but I know that digital industries are heavily dependent on mining and oil.
And is it true that a single Bitcoin transaction consumes enough electricity to power three average sized homes for 72 hours?!
If so, how is such a resource intensive system of currency sustainable?
It seems utterly wasteful to me that buying a pizza with Bitcoin would require dozens or even hundreds of times more energy than was required for the pizza itself.
I'm not a naysayer against digital currencies, I just don't see how any system can fix problems that are predominantly psychological or 'spiritual' in nature.
go to around 30min for the q and A and someone asks your basic question.
You are not dumb! You've acquired some of the most valuable treasures. The best use for bit coin is to save a couple and turn the rest into more of what you've already got plus maybe some small denominations of gold and silver. With that said, I'm packing up to come live out in the country with you and your hens. 😂 💕 😘
'participant owned networks'
he starts off by assuming p=/=np. believe that hasnt been proven.
dat blond chick :D
I tried my best to recover from that.. Sorry
Amir Elayyan
lol @ you guys imgur.com/ibUoB5R
41:15 were now at 428 lmao this aged too well
Camera shouldn't be moving along
Why ?
23:50 electroneum (etn)
"how many are new to BTC?" "ok im gonna make you rich hold my beer". BTC in Feb 2015 was probably like $200
BTC for $75K by end of this year& Control
of The Currency is already Decentralised And now the China disruption would simply
Decentralise the Mining setup for the better
Nov 2021 -> Does it scale to a trillion. YES!
100 trillion next. RIP trad-fi.
The MIT Bitcoin club needs to call the MIT AV Club. Next time they want to film something. Terrible camera work.
Thanks for the upload. Have a dollar. *****
Is it really created by shatoshi nakamoto or AI bots like sophia? Ask yourself dont take information as its given to you! Maybe its a war between humanity and robots on its very ealrly stage, if you dont see that doesnt mean its not happening. Just food for thought
bitcoin as payment is impossible due to the volatility
It's impossible yet it's happening every second of the day.
volatility it's normal if the market cap is small. Bitcoin volatility is still super low
When fiat gets volital they print more so it goes back down.
bla bla bla, we know Bitcoin has so many advantages. My question is why is price still increasing (like if it's the only crypto currency) while u have superior coins such as LTC, ETH or BCH with lower fee and price is still not increasing. Is it only because of Infrastructure and merchant accepting BTC, this can flip quickly right ?
Yes the prices are also climbing, rapidly. At least with ETH
Because the coins you mentioned are not superior. Bitcoin could be like LTC or BCH in a matter of a day if people wanted to. Simply changes to blocksize and blocktime. ETH smart contracts are not that unique too and could be migrated too.
It is the first, and strongest. If BCH and LTC would have the adoption like bitcoin has, their infrastructure would collapse and even be very succeptible to attacks. Sometimes it is good to be slow and let others do the mistakes.
It has its flaws though, adoption is to fast right now, 2nd layer technologies are not there yet. And I dont like the distribution of mining power but it hasnt proven to be a point of failure as of now.
study Bitcoin..
BTC is the gold Standard of crypto. It is 1st generation blockchain. Enhance Security means simplicty and a sacrifice of functionality, that will be resolved in the future with development...
fuck me! . . I heard about bitcoin in 2009 and dismissed it . . .biggest mistake of my entire life .
not at all. i guess there is never too late. you must be very special man considering you heard about btc in its early days. respect
Andreas and Mike Pence are lovers.
Warning: This man doesn’t know how Bitcoin works.