Introduction to Bitcoin: what is bitcoin and why does it matter?
Andreas is one of the most trusted and entertaining educators in the bitcoin 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.
This talk is featured in The Internet of Money volume 2, which can be purchased in multiple languages in paperback, ebook, or audiobook:
Chapters
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?
To learn more visit my website and sign up for a FREE Introduction to Bitcoin and Open Blockchains workshop where I'll teach you more about how to get bitcoin, why the price is different on different exchanges, and much more. You can also earn a certificate of completion!
This talk was presented at the Singularity University's Innovation Partnership Program (IPP), it was intended to be an entry level talk about bitcoin.
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About aantonop: Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at
From Andreas: You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Watching these videos and sharing them with others is a big part of that. Thank you for being part of this mission.
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Music: "Unbounded" by Orfan ( )
Outro Graphics: Phneep ( )
Outro Art: Rock Barcellos ( )
Thanks for watching!
#bitcoin #cryptocurrency #andreasmantonopoulos
Watching this video in December 2021 for the first time. What an amazing explanation of Bitcoin and blockchain! And everything he said over 5 years ago is holding absolutely true. If I ever see Andreas at a Bitcoin conference, I am not going to ask about Bitcoin, I am going to ask him to pick football games for me 🙂 lol
Whenever we have a “crash” in the market, I watch this video to calm myself and remind myself why I got into bitcoin in the first place.
@sam evensen shh dont tell everyone 😛
Same here, I’ve shared this video at least 100 times!
That’s when u buy more !!
same
Ya this video is nostalgic to me
This was fantastic. It is by far the best explanation of Bitcoin that I have watched. Thank you Andreas, keep up the good work.
I think I can speak for everyone by saying that we all really, really appreciate it.
I can see this video being shared in 20-30 years like people pass around old Steve Jobs or Bill Gates videos.
Except Andreas doesn’t own bitcoin and he’s not trying to sell it to you
Haha already looking back at this and thinking how much he got right!
@Dmitry Ragozin q00
yup
@Ryan Vincent yeah for most altcoins they will eventually pop, bitcoin is the Amazon or eBay of crypto… crypto isn’t going to be a fad, and this bull market isn’t close to over
“Bitcoin is not just a currency, but it is the platform for trust”
This video changed my life forever. Thank you ?? sincerely from the bottom of my heart Andreas. You opened up an entirely new world to me. I’d only heard the term bitcoin used when the person I was talking to was bragging about buying and selling illegal things on the dark web. Thanks to you, I’m now a proud crypto nerd ?
Thank you Andreas for continuing to educate and wake the world! This is as amazing today as it was years ago. The same will be true in the future. ??
One of my absolute favorite Bitcoin videos. My first Andreas Antonopoulos video and first 100% Bitcoin video seconds after I heard Bitcoin mentioned in another video, where I after 10 seconds dropped my jaw and realized the potential 🙂 THANK YOU Andreas!
@Bar D bitcoin isnt a privacy coin, all transactions can be tracked in the public ledger
Anders, im watching it now to learn about bitcoin! and yes thank you Andreas!
Could it make a difference in the future if most – or at least more – people are provided for (in an ideal blockchain-type world) and result in less anger and resentment, hence make the world safer?
(Not being provided for is not the only reason for anger and resentment, of course, but the more content people you have who feel secure, the less overall anger and resentment you will eventually have too. It’s a complex phenomenon.)
No aparecen los subtitulos en castellano
Typical Victorian trying to increase Nanny State rules. Seriously.
Amazing!! You were so spot on in 2016 and here we are today – country(s) implementing BTC as legal tender, BTC ATMS/Kiosk popping up in local gas stations/grocery stores, Twitter BTC lightning network, etc. Despite all the FUD. Highly appreciate your conviction and educating the masses about BTC.
Excellent video on the bitcoin concept. A dynamic, articulate and forceful presentation of its underlying theory and revolutionary implications for society and the world. That said, the “flip-side” question of all this remains unsaid and perhaps not fully pondered – what are the negative consequences and fallout of total “decentralization” of value, communication and protocol? Ultimate chaos, confusion and anarchy? Breakdown of control, organization and progress? Bitcoin itself is now splintering and fracturing – bitcoin cash, bitcoin gold and forks and segits and numerous copy-cat and cousin cryptos and more ICOs on the way. If it happens with crypto, it will likely happen with any other technology based on open-source blockchain. Big Brother in reverse – everyone becomes a Little Brother and little progress gets done? Just asking questions, amigos; just questions.
@Gary – this is a very valid point, and something i have been pondering myself. As much as we like to villainize government control of currency, there are real benefits to our current system of money in the forms of ‘protections’. ( this can of course be debated).
I speculate that in the future, governments will issue their own cryptocurrencies (doubt they will be finite in qty). At that point, the IRS job becomes very easy.
Kind of scary that crypto aligns with some biblical prophesies. I will leave it at that.
I wish I had been there and had 5 more years to understand the technology!
So underrated. I’m glad that I’ve found this professor on YT. Thank you.
Thanks for your comment, let’s talk ??
This guy is absolutely amazing. I’ve been in crypto for a few months and JUST watched this, damn this guy is something else.
Andreas could just simply sit on top of his Bitcoins and watch the price grow overtime. But he chooses to share his knowledge with us….. Kudos Andreas!
Thank you Andreas! Love your content as usual!
A bit late but here I am. Amazing content man. I just want to clarify that money isn’t the most ancient technology we came up with, weapons is. In fact there’s a big gap between those two inventions in which many technologies evolved. Looking forward to watch all your videos.
A brilliant, clear introduction video. Thanks Andreas!
Obrigado por legendar os vídeos ❤️❤️❤️❤️
How does this video not have 1 million views yet? The foresight and information quality communicated here is staggering. Andreas truly defines the term “visionary”. If you ever read this sir, THANK YOU.
It doesn’t have 1 million views because it simply does not deserve it. You can’t build on top of bitcoin and it’s not programmable money. Every person who has tried to program on top of bitcoin has failed completely, proving that it is not programmable money. Ethereum is a much better platform for programmable money, but it needs some work.
I am watching this 2 years after my first watch, and I am blown away as it is happening right as he says : bullshit blockchain talk, NFT, Taproot development to allow smart contracts, poor countries adopting it first (El Salvador) ….
This video aged well, this man knew what was coming