Introduction to Bitcoin: what is bitcoin and why does it matter?
Andreas is one of the most trusted and entertaining educators in the BitcoinBitcoin (btc)1$ 62,642.92-0.75%-5.60%9.67%details industry.
He’s known for his unbiased, honest, easy to understand explanations of complex things – like bitcoin itself. Watch this video to learn what bitcoin is, why it’s different from current systems you already know (like banking), and how it might affect all of us in the future. At the end there are some great questions, ones you’ve probably already asked or will be asking.
0:00 Introduction and Mention of “The Internet of Money” book
0:15 Audience Poll: How many of you have used a digital currency like Bitcoin at least once?
1:02 Bitcoin is best demonstrated and experienced 1:39 Forget everything you’ve heard about bitcoin and blockchain
3:48 The reason bitcoin is so fascinating
4:00 Bitcoin isn’t money, the blockchain isn’t a system of currency 5:38 Innovations in money over time
6:13 Bitcoin is a platform of trust, where currency is an application
7:30 Bitcoin is the first completely decentralized system of money, what does that mean?
8:27 Moving from institution-based money to network-based money 10:05 The upcoming innovation explosion
10:56 Bitcoin can be owned by non-persons
12:06 Bitcoin and blockchain technology unifies systems of money
13:30 Prediction: 10’s of thousands, 100’s of thousands of coins to come
16:38 Banking and innovation vs bitcoin and innovation
21:12 It’s not ready yet, bitcoin is complex but it’s getting more accessible
22:35 Do not underestimate bitcoin 25:01 Q&A begins
25:10 What determines the buying power of bitcoin? How does it stabilize, what’s required to stabilize the price of bitcoin? Who can manipulate the value of bitcoin?
28:04 What about hacks? Can you reflect on the dark side of bitcoin that might affect our trust in this new network?
32:28 Where does the supply of bitcoin come from? How can you be sure the bitcoin market doesn’t get oversupplied?
35:00 What advice do you have for non-financial companies that want to experiment with blockchains?