Bitcoin Documentary | The Trust Machine
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- čas přidán 27. 05. 2018
- Overview of the key insights behind Bitcoin whitepaper. Covers the history of money, value, gold, blockchain, proof of work, hash function & mining. This is the best overview of bitcoin for those who want a deep intuition. We introduce the problem of sending cash in electronic form over the internet and the need for a reliable electronic cash method, and introduces Bitcoin as a solution. Bitcoin is a decentralized digital currency that operates on a shared ledger model and eliminates areas of trust through distributed responsibilities for validating and updating transactions among multiple nodes. The speaker describes the process of Bitcoin mining, which involves solving complex mathematical problems to add new blocks to the blockchain, and explains the consensus mechanism of "proof of work" that motivates miners to participate in the network. Overall, the video provides insight into the security, reliability, and significance of Bitcoin in the modern global community. bitcoin 40k / halving
YES YES YES YES YES. FINALLY. Thank you so much. Your video on public key cryptography is by FAR the best on the entire internet. Thank you for making one on Bitcoin.
In fact when I have to explain public key cryptography to a group I usually just go out and buy some paint and then show them the magic trick in your video. That always gets every bodies attention!
this is actually the best bitcoin documentary out there
Subscribed to this channel many years ago when was learning symmetric, asymmetric cryptography and hash functions as an IT Erasmus student. Every single video is golden.
I love the theme you set in this video with all the old video clips, and other illustrations. This is by far the best bitcoin documentary (and money), because it doesn't have that annoying music, or that certain vibe/bias in it like the other documentaries.
thank you kindly for the feedback. I worked hard to make this video feel that way, I know what you mean about the cheap, gimmicky style of other explainers. please share!
This channel is amazing. That's probably the best explanation of how Bitcoin works, I've come across so far.
You have a really great talent for explaining things in an understandable way, and yet not oversimplifying the subject. Great work
czcams.com/video/OFS90-FX6pg/video.html
IVE BEEN WAITING MONTHS FOR THIS! THANKS MAN!
I have finally got to watching this. Happy birthday to me! I've missed this channel so much.
This is great Brit. I really liked it and is a great introduction to the story of Bitcoin and money. Thank you very much for putting this together and sharing it.
Thank you for the feedback as always Ever
Brilliant! Very well done. I'm writing on aspects of money, trust and the blockchain, and what i see here resonates with the research i've done. Nice visual content to support the arguments. Clips of hearings add value. Your effort is much appreciated.
Exceptional work! Thank you for such a masterpiece.
This is the best introduction to bitcoin ive seen thus far. Thankyou for this.
The tree branch analogy was great.
Awesome I'm so glad that analogy rung true with you.
Phenomenal work ...again. Keep it up. The world needs you.
👍
Fantastic job breaking down the theory & origins of currency and the blockchain processes!
Extremely well-made video! Definitely made me want to check out your other content
I thought this channel was dead. Nice to see new videos.
baap you can keep Brit alive (and fed) by donating to his Patreon! It won't even cost 10,000 bitcoins ...
Amazing video. Very interresting and well done. Should have explain recent regulation concerns and remaining technicals problems and maybe more projection into futur to be 100% perfect.
[6:33] - "The value of these treasures was based on the fact that everyone knew they were rare. Rarity is the value."
Run a fully validating Bitcoin node, and don't let anyone try to tell you that you don't need to.
Full validation is confirmation of scarcity & consensus rule compliance.
Brilliant and best description of the mining process that I've seen. Well done!
thanks so much for the feedback
I love this channel!!!
Most underrated channel on youtube ive shown so many friends your vids i love them!
awesome it really means a lot to know viewers like you exist. CZcams alg doesn't spread these videos so i rely on word of mouth.
Still one of the best videos on bitcoin I’ve seen and one I come back to rewatch often. Should have 1m+ views in my opinion, great work!!
awesome! i know, i have no way of knowing how to get this more views but i've tried
this video is by far the most prolific understanding of the workings of bitcoin. thank you sir.
I really appreciate the feedback, I worked ridiculously hard on the script for this video.
Excellent intro to bitcoin.
Very well done. Bitcoin is going to change the world as we know it. Communication of value for everybody at any time, everywhere.
I like that phrase "communication of value"...wish I used it...
Thank you for this video. Was looking for a video explaining BTC and this is exactly what I was looking for. So well presented!
beautiful please help me share this video
Thanks for the brief explanation video on Bitcoin crypto currency. Your way of making documentaries are unique compared to other boring and overly exaggerated one's.
appreciate it, tried to be very careful with words when making this
This video is extremely well made. Thank you for all the time you put into this
just posted this: czcams.com/video/OFS90-FX6pg/video.html
It was a pleasure working with you on this one, sir! Cheers.
Lets collab on my channel sometime!
Great video! Thank you for doing your part of spreading the good word about bitcoin! :)
You have done a great service to the community! I salute you
thanks so much for your kind words
So simply and well explained! Great episode!
just posted this: czcams.com/video/OFS90-FX6pg/video.html
This is perfect! I'm going to point students in my Emerging Technologies class to this video. Thank you!
thrilled you found this. tell them to leave questions if they have any (they should!!). also let me know if the title works as I'm trying to figure out how to help get this video discoverd by more.
very well done sir
Very well done, focusing on the important aspects without getting bogged down in the technical details (which is what 99% of similar videos do).
appreciate the feedback. I've actually been thinking about making an even more condensed version which goes into less technical detail and try to do it in more like 8-10min flat
@@ArtOfTheProblem The problem is hitting on the right balance and the right metaphors (it's like trying to explain the Higgs mechanism in popular terms: it can't really be done :-) )
@@JanPBtest agreed. I'm actually planning physics for the "final frontier" of this series.
Clearly explained. Am adding this to a playlist I share with newcomers.
much appreciated
Fantastic. Many thanks. Incredible work.
Thank you kindly, please share with anyone you know who needs to learn more.
Nicely done!
this is a great mini documentary - one of the best i have seen on the history of money as it relates to bitcoin! but a couple of nitpicks:
5:12 "within a small trusted group such as a family you don't really need physical money" - that is correct. such groups have historically not used money - they tended to operate on a gift economy where people loosely remember the favors they did for one another and repay them later.
5:23 "so money actually starts as a shared memory" - not if you're referring to the gift economy, since they had no money.
5:27 "the very oldest written documents we can dig up show we often wrote down a list of promises to each other, known as a ledger" - this is now referring to money, and this is correct. however this is different to the earlier example - the difference being that such money did not develop within a small trusted small group, but was actually developed to deal specifically with the opposite situation - a lack of trust. such documents were developed by the governments of large early societies partly because there were too many people having interactions for everyone to remember the favors they owed.
Amazing work!
Amazing job, best intro material I've seen
thank you for the support
So so good. History of money to explaining clearly what Bitcoin is. 🙏🙏🧡
thanks, i had fun making this one, hopefully i can figure out a title thumbnail to get it more views
Awesome documentary, explained in very simple terms!
Excellent much appreciated
Wow this is a great documentary for new people! Did you make this? Or post it from somewhere else?
This is hands down the best documentary about money I have ever seen. I will share it. More videos on the monetary system would be nice.
appreciate the feedback and glad you found it. I've considered doing a longer set of videos on economics
@@ArtOfTheProblem Thanks for the Answer. I love this "Short" version. Perfect as an entry video for people new to Bitcoin and decentralised finance. But as a next step it would be great with a deeper longer video about it. Thanks again.
This is one of the best video!
This is FANTASTIC!! great work
thanks for the feedback please help me share this with the community
That was a fantastic documentary!! Very interesting, and informative. :) Thank you.
glad you found it, thanks for the feedback
One of the best video on bitcoin....
If only CZcams's algorithm thought so...
very well done
Fantastic video! Will share!
Brilliant work.
Very good! Clearly presented and easy to understand. Would benefit from a slicker production.
Great video
your videos are really good man, keep it up!
What's the drum music 3 minutes in?
This video will be valuable in the future for people who weren’t around or weren’t aware when bitcoin came to be !
100% spread the word!
Hey, very insightful documentar. It just missed sharing the sources of the info you shared. Could you list it?
Your videos are a treat to watch. You should do this often.
Love from Kashmir.
I think this is awesome! Thank you
Happy this helped, please share with nocoiners
Very interesting watch. Thank you!
I would love to know what is the music used @5:05 and the other one @6:14. Thanks!
All music was original and composed by Cameron Murray cameronmichaelmurray.bandcamp.com/album/art-of-the-problem-volume-1-gambling-with-secrets
It fits so well. Thanks for sharing, I'll check out that album in a minute.
This is the best!
Preety decent intro to bitcoin. You cover all the basics of the whats the hows and the whys.
I was going to make something similar in Spanish but instead I would like to make a proposition: If you agree, I'd like to translate the whole thing to Spanish and record the audio for the whole video. Then I would give you the audio track for you to edit, set up and publish on any channel you own with a brief written mention for the translator at the end. I won't publish anything. I want to have a Spanish version of this to share.
What do you say?
Hi. That email address doesn't exist according to google. Can you please check spelling?
Talk about the Lightning Network and how it completely subverts the fundamental economic model of Bitcoin.
I love these videos
Keep it up @Brit by far the best documentary on Bitcoin, love the channel
thanks man glad people are still finding this video i thought it was buried on page 10 :)
@@ArtOfTheProblem thanks too for the series on cryptography I am a Lecturer here in Uganda and I use that playlist "gambling with secrets" every semester
@@AyebareKagina woo love to hear it!!
Still absolutely love this video! I share it far and wide!
Thanks kevin! Please do we need to get this to rank higher on youtube
Best one. Thanks.
thanks for feedback
I love you and your work sir!
What is your thought process and methodology when you start working on something?
Answer it when you find time, would really appreciate that...
Thank so much. This video took about 16 months. And followed this flow:
1. have many casual conversations with people about the topic (2-3 months)
2. read *everything* on the topic which exists (original paper + books + internet forums)
3a. write draft script with rough visuals (3-4 months)
3b. share it on reddit many times to see if people can poke holes in it
4. iterate on drafts around 50-100 times based on feedback (~5 months)
5. record voice over and see if it works without visuals (or very rough/temp ones)
6. produce the visuals & edit together with voice over
7. test on a few people (experts and lay persons) & iterate a few times
8. press publish and go for a long bike ride
Art of the Problem
My favourite the last step :D
Quite elaborately put.
How many videos did it take to get to this refined, structured flow in order?
I've struggled with that creating content.
How does the Node know the block is valid if it was just mined? Similarly, what are the transactions recorded on a block that was just found or hasn't been found yet?
This is a great video. I was thinking on write spanish subtitles and give them to you (or upload it tagging you and your channel of course) so i can share it with some people that can't understand english to well. Suscribed!!
already done! czcams.com/video/PmBvi6CvT8E/video.html
@@ArtOfTheProblem Excelent!! Thanks a lot! I was almost all nite watching your videos!! congrats on your work!!
I still regularly point newbs to this video. Still the best BTC tutorial on the internet. Thank you.
BTW song at the very beginning??
thank you! the music for my videos is original
@@ArtOfTheProblem is there music for this video available anywhere?
not this one sadly, Happy to say I have a new vid out! czcams.com/video/5EcQ1IcEMFQ/video.html
excellent intro to bitcoin
Another truly spectacular video. You never disappoint me. The Bitcoin has changed the internet and it is not going anywhere. I do not mine, nor trade any e-currencies, but I'm fascinated by them. And when you see that '10'000 bitcoins for 2 pizzas' and think...well who knew?
Awesome I'm so glad this connected with you
Is there a way for me to retrieve the rhythm loop at 3:20 from you? It is for personal use only. I sent you an email btw, explaining further.
How does this still have only 116k views after 5 years? This should be 50x the number.
I know, youtube never liked this video I don't know why. maybe I need scammy thumbnails?
czcams.com/video/OFS90-FX6pg/video.html
Great work @Art of the problem! Any more new content on the way?
thanks! I do have two IEEE videos (Information Age) coming later this summer/fall. In terms of next "AOP episode" I'm pondering one on AI. I'm also thinking about an entirely new documentary series which is outside the 'explainer video' realm
Sir pls do any blockchain related.. Future videos.. Request by subscriber..
Can I make dutch subtitles for this video? This really needs subtitles in all the other languages. Going to be AWESOME for education.
please! Will this link work: czcams.com/users/timedtext_video?v=ZKwqNgG-Sv4&ref=share
Is the future going to look like: trusted entity vs. global tracking?
The baby sure knows the preciousness of gold
Does anyone know where i can view The Trust Machine Doco at all?
Thank you CIA! USA#1!
Love the concept
thanks for the feedback
It isn't necessarily the longest chain that is the true blockchain, the true/valid blockchain is the one with the most proof of work.
very nice hope u get a bilion views
This is criminally underviewed.
right??
Great video! found this on ETHTRADER. You should make an ETH one
Hats off sir..
appreciate the feedback, glad you are poking around :)
@@ArtOfTheProblem Pls provide some courses like blockchain Full Course.Best channel i ever seen.❤️
@@abiakhil69 i will consider this, thank you
First off, great video! But, I was somewhat dissapointed to see that while the video did explain all the concepts it needed too, I didn't really see how it was explained that this system was better, other than here's a new thing and how it works. You also completely missed explaining the history of banks mishandling information, decades of credit cards fraud, and all of the the events in 2008/2009 which caused Bitcoin to start as a big F.U. to the central banks. Good video, though. Long live blockchain.
Alexander Peters Precisely. Newer people always miss the most important parts: Cypherpunks, cryptoanarchists, central banking.
What would happen in the event of a complete network outage because of an EMT attack etc? Would bitcoin one owns be usable?
if the EMT wiped all memory then we would be out of luck. Otherwise radio based systems could keep the network going in theory (in fact one could use a party line style telephone system where everybody hears everything).
Bitcoin would be the least of your problems I guess
Since transactions done with crypto-currencies are dependent upon verification by bitcoin miners, so what would happen if there are no bit coin miner/ all the miners stop?
Isn't this a flaw in the system? since it's assuming that there will always be miners?
no miners, no bitcoin
@@ArtOfTheProblem hey, isn't that like a flaw in the system or am i missing something? lets say the value of bitcoin starts to devalue for whatever reason, causing a decrease in mining operations due to a decrease in incentives which further devalues the currency since miners are essential for the system to function at all and so on and so forth like dominoes till the currency become worthless , and since you cant make any monetary policies to help combat it due to its decentralised nature, so what safe gaurds are there to prevent such an event occurring?
@@maazahmedpoke once all the bitcoin is done being mined transaction fees will pay the miners. But that is a problem people with 100 years of tech development have to figure out.
Money is the lifeblood of society
it is
One of the main reasons why Bitcoin will be one of the last monetary systems we use. Soon as we start mining Asteroids, we will get into Abundance. Then we will need mathematically proven, rarity.
the background music is distractive but the content is really good
Will it be possible to make transactions after 2040, when every bitcoin was mined and therfore none can be paid out for solving blocks?
Transactions pay fees, which will be the incentive for mining blocks.
Nice video! I found the explanation of the principles behind bitcoins very useful and easy to grasp!
As far as the other content in this video, I have some objections:
- I found the explanation for how something is assigned value somewhat unsatisfactory. Rarity as a marker of value is not generally true. For instance, you could be holding a stone containing the rarest material on earth, but if you do not know that it is rare, or if you do, but no one else cares because it's just stone with no application practically or transactionally, then it holds practically speaking no value. For instance, in the framework of Marxist analysis, you could attribute the ultimate exchange value of an object to a complex interplay of various parameters, most notably including socially necessary labor time, to which rarity may indeed be correlated. Whatever the case, this is a minor objection to your video since your limited analysis either way is applicable to the case of bitcoins and universal mediums of exchange.
- I am missing a presentation of the current difficulties concerning bitcoin technology, such as for instance the massive power consumption related to the processes of mining and verifying transactions. There have been reports of the current total power consumption exceeding that of entire countries, which is obviously bad in relation to the environment and global warming. Also, I did not feel that this video put enough stress on the fact that bitcoin is not (yet) a universal medium of exchange, and as such it is no more that a collectible item these days, assigned value in terms of dollars, not the other way around.
You are only focusing on only part of what he said. Not just rarity (as like you said, if you don't know something is rare, its perceived value could be significantly less than those who do know and trust its rarity and value. Ever watched Antiques Roadshow?) He also specified *trust* in that rarity or value, and that immediately precludes those who naively don't realize the value.
As for the power consumption - if your electrical bill is higher than the value of what you mine, you get out of the mining business. Simple. That even happened a few times at large scale whenever there was a real-life gold rush. All mining operations have the exact same risk you associate to bitcoin.
True, I think we both agree that value is ultimately somewhat abstract and ambiguous.
As for your reply concerning power consumption, I was rather referring to the collective problem spawned by lots of people joining in on bitcoin, exponentially expanding the resources required to validate all transactions (at least that is the understanding I got of the blockchain principle). Collective problems are rarely solvable on an individual level, so I think it's worth questioning whether the current mechanism for validating transactions is a feasible one on a large scale, and whether it should set the standard as such. Not that I am claiming modern day transactions are any less resource intensive taking into account everything from production of physical money, to building, maintaining and running banks, though.
You hit on an interesting thing that isn't covered in the video (but could be insinuated by what is covered). People build these giant rigs to mine with, and because bitcoin will become rarer and rarer, it will also become increasingly expensive to mine them. Most of the miners who have capped out (in both senses of the word, cap and capital will stop using their rigs. Or go broke in true casino style.
Fewer miners will make the obtainable bitcoins even more rare, driving the price up to the point they might be able to kickstart their mining operations again. The point is recognizing the crucial point when the odds are high enough you'll succeed before the electrical bill bites you again.
The super wealthy miners (like DeBeers with diamonds) can afford to ride it out, and they'll inevitably see the cursor on the command line as the program completes globally. It must be quite a thing to run at max for decades, then ... nothing but a "finished" message and a huge power surge for the entire neighbourhood.
Value is subjective. The value of a good is not determined by any inherent property of the good, nor by the amount of labor necessary to produce the good, but instead value is determined by the importance an acting individual places on a good for the achievement of his desired ends.
Money must be rare and useful. Fiat money is useful but not rare. All issuers of fiat money through history have expanded the supply. Precious metals are rare but not very useful. Bitcoin is the first money that is both rare and useful and this is why Bitcoin has the potential to dramatically change how the world works.
this is an amazingly accurate video. Do you have a lightning network node running? This would yield even better privacy when tipping you with BTC (: Speaking of which: I find it a little bit disappointing that you left the lightning network out. But I guess that is ok, since you need to stop somewhen .
Sorry I don't have one running (yet) - I appreciate the consideration though. I fit as much as I possibly could without overloading people...most have said they want a 3-5min version of this video :(
if you like I can help you setting one up. Actually a friend and I even have a custodial service (which we currently only give to friends) for testing where we host the wallet as service (kind of like a web lightning wallet). And a shorter video would not be so informative. no no you made it very good with the current length
I love the effort just a few problems that are going to confuse people. Nodes don't do the guessing, they just hold the ledger, the miners do the guessing.
Also the true chain isn't the one which grows the fastest, It's just the one with the most hashes per second. I could make a fork off Bitcoin and reduce the difficulty thus my chain will grow quicker but that doesn't mean my chain is the true chain.
Great video! I made a similar bite sized video on Nano.
Can you link me?
/watch?v=z3FBih0_BkQ&t=3s