Bitcoin Documentary 2019 – The Most Interesting Human Creation Ever Conceived

Bitcoin. A crypto-currency. A decentralized application. A bubble. An investment. A speculation. The next big thing
after the Internet. These are only some of the
epithets and descriptions people like to give to bitcoin one of the most interesting
human creations ever conceived. The year I decided to take bitcoin
seriously was the year 2015 and it coincided with my
reading of the book “Sapiens” by Israeli historian
Yuval Noah Harari. In this magnificent work, Harari explains how, throughout
the history of mankind, humans created powerful stories in
order to give our lives purpose and consequently ensure the
stability of our social edifice. I saw the power of stories
everywhere around me. In religions, in politics, in social
theory, in economics, in movies. And that’s when it dawned on me. I came to realize that bitcoin is
nothing more than another story. A story created by some
extremely intelligent people and gained steam by being adopted
by more intelligent people. When smart people come together and
unite around a powerful story, you can’t help but realize that
there is serious potential in it. October 31, 2008. In a cryptography mailing
list called metzdowd, devoted to cryptographic technology
and its political impact, a member with the
name Satoshi Nakamoto published an email titled
Bitcoin P2P e-cash paper. In this email Nakamoto introduced
the members of the list to Bitcoin: A Peer-to-Peer
Electronic Cash System. It was an exceptional piece of work
predicated on a very revolutionary idea how to send online payments
directly from one party to another without the burdens of going
through a financial institution. In a nutshell, what Bitcoin does is it creates a robust
decentralized network of exchange that is based on a technology
called the blockchain. One can realize the depth
of Nakamoto’s intellect by reading how elaborate the
structure of his/her/their work is. This paper is not something a
normal person could come up with. It is a very complex
algorithmic process that requires a great
deal of knowledge in computer science,
mathematics, and cryptography. After his initial email in the
cryptographic community newsletter, he released the Version
0.1 of bitcoin software on Sourceforge on the
9th of January 2009. According to Wikipedia, “Nakamoto created a website with
the domain name and continued to collaborate
with other developers on the bitcoin software
until mid-2010. Around this time, he handed over control of the source
code repository and network alert key to Gavin Andresen (lead developer
in the Bitcoin project), transferred several
related domains to various prominent members
of the bitcoin community, and stopped his involvement
in the project.” His final email to the bitcoin
community is dated April 2011. In it, he told to Mike Hern, one of the developers of the
bitcoin code at the time, “I’ve moved on to other things. It’s in
good hands with Gavin and everyone.” Satoshi Nakamoto is now
a legendary figure. The public bitcoin transaction log
shows that Nakamoto’s known addresses contain roughly one
million bitcoins (they were all part of
the first blocks mined). As of April 16, 2018, this is
worth over 8 billion USD. This makes him one of
richest persons on earth. Since Nakamoto rejected the
role of the new messiah, the bitcoin game became open to
anyone willing to influence it. The first popular bitcoin transaction
was documented in May 2010, when Laszlo Hanyecz, a programmer from Florida sent 10,000
Bitcoins to a volunteer in England who spent about 25$ to order
him a pizza from Papa John’s. Afterwards, the cryptocurrency started
being covered by different media outlets, thus gaining steam. A huge number of tech-savvy
investors saw enormous potential not only in bitcoin itself but
also in its underlying technology, the blockchain, which can be used
in a wide array of applications ranging from banking to file sharing
and even government-related processes. Apart from the first
bitcoin exchanges that allow people to buy
and exchange bitcoin, many people start to accept this
new currency as a form of payment and, not surprisingly, the most passionate
early adopters are drug dealers. Silk road, an illicit
drugs marketplace which used bitcoin as an untraceable
way to buy and sell drugs online, is established in January 2011, paving the way to the
evolution of the dark web and the creation of a whole
new online ecosystem. Slowly but steadily Bitcoin
becomes more reputable and, as a result, new cryptocurrencies
that want to compete with it emerge. People believe that there is always
a better version of a new system and want to be the first who will
invent this “better version.” Etheruem, Litecoin,
Monero, Ripple, Dash are some of the earliest alternative
cryptocoins to appear in the scene and are still amongst the most
dominant players in the landscape. 2013 marks the most
important year for bitcoin since it was the year when the bitcoin
price experiences its highest surge. On November 29, 2013, the price of a single coin hit
an all-time high of $1,242. In 2014, Mt. Gox, the most famous bitcoin exchange
at the time closed its website and exchange service and filed for
bankruptcy protection from creditors. That, along with the shut down of Silk
road in November of the same year, marked the plummeting of the
bitcoin price to around $300. From 2015 until the end of 2016, Bitcoin slowly scaled up the charts
to reach a value close to $960 by December 2016. The number of miners,
developers, and investors associated with bitcoin during
that period grew exponentially. And that brings us to 2017, the most prosperous year
for bitcoin, to date. I am not entirely sure
what happened in 2017, but I guess that when you
create a story so alluring and with so much future potential
that will allow early investors to make money out of, literally, thin air,
at some point this story will explode. Bitcoin entered the mainstream, buying the currency became
very easy, many prominent and respectable figures
started endorsing it and, as a result, one of the most
interesting creations in the history of mankind
skyrocketed in value. Regardless of whether you have
skin in the bitcoin game or not, you need to understand something
very fundamental about this idea: Bitcoin isn’t something that emerged
out of the sick or crazy mind of a random programmer. Bitcoin was something that was
desperately needed by all of us. The banks and the governments have
been controlling the monetary system for a very long time and this creates all sorts of
problems for the average person. First and foremost, we are
dependent on two entities that can decide about how money
is circulated within the society without them being omniscient. Namely, their decisions are not
predicated on a flawless system that will ensure the stability
of the social edifice, but rather on
economic assumptions that are usually influenced by the
needs of certain individuals. Individuals that are high up in the
dominance hierarchy of society and will do whatever it takes to
maintain their power and wealth. The evidence of how blemished the
current system is, is indisputable. Our economic life isn’t a straight
line that leads to sustainable growth but rather a playful interplay
between moments of crisis and moments of prosperity. The funny part is that the
inexorable propagation of this system can’t
continue forever and it will evidently
lead to anomalies. From my understanding, such an anomaly we
experience at the moment with the dawn of Bitcoin and
other cryptocurrencies. Bitcoin suggests something very simple,
yet something very revolutionary: It’s the first time in history we
can start discussing alternatives to the current Fiat standard. Back in the 1800s people
used to rely on gold to estimate the value of the
currencies in circulation. Every dollar was connected
to a certain amount of gold and that helped the value
of a dollar stay stable. This system was quite efficient,
but not really that flawless. During the great
depression in the 20s, the gold standard
inhibited economic growth because it prevented
the Federal Reserve from expanding the money supply
to stimulate the economy, fund insolvent banks and
fund government deficits that could “prime the
pump” for an expansion. Also gold, in and of itself, doesn’t have
any tremendously significant usability. Yes, it can be used in jewelry,
electronics, and some other industries, but that alone isn’t enough to
make it an important asset. What triggered the idea of a gold standard
was that gold was a very expensive metal with limited circulating supply. Which is an argument tantamount
to the bitcoin argument. When Satoshi Nakamoto
invented bitcoin, he did so with the intention of
creating a specific amount of bitcoins that could be mined. Specifically, there are 21
million bitcoins to be mined and, according to estimations, the
last bitcoin will be mined in 2140. If we take the limited
circulation into account and add on top of that the
incredible feasibility and usability
prospects of bitcoin, that include decentralization,
security, anonymity, and ease of use, bitcoin becomes one of the
most important alternatives to Fiat currencies the
world has ever seen. On the surface, bitcoin
is a digital currency. For when people get
interested in it, they do so because they see
it as a form of investment or as an alternative
payment method. However, when one starts to dive deeper
into the idea of what Bitcoin represents, one can see something
quite groundbreaking. One can see the
future of humanity. If you take a look at
our history as species, you will realize that our progress
is predicated upon the progress of our governing systems. What we are constantly trying to achieve
is the optimization of our societies in order to reach a state of universal
equality and dissipation of suffering. We have tried monarchy,
oligarchy, democracy, communism, and other forms of governance and none of them have lived
up to our expectations. Our ideal political
system is none of that. Ideally, we would be happy
with a mode of anarchy that favors the ability
of the individual to offer value within society. We don’t need governments
to take care of us. We know that we can
do that by ourselves, but the mere structure of our social
patterns don’t allow us to do so. Especially when the monetary system
is structured in such a crazy way. And here is where the idea
of bitcoin comes into play. Bitcoin is a
decentralized system, which means that it is
not governed by anyone. This seemingly small idea can
lead to a monumental shift in the way we interact
with each other and eventually re-engineer
our whole thinking motifs. Most people will fight
bitcoin and that’s a fact. That fighting is not just a byproduct
of an astute lack of understanding in the concepts I
just described, but also because of a
resistance to change and the inherent self-preservation
mechanism most humans fall a victim to. What will determine
bitcoin’s robustness is the community’s major players’
tenacity to keep on playing and that involves miners,
programmers, investors, evangelists and entrepreneurs who are willing to risk
everything to make this work. History is full of similar
revolutionary movements and we all know that the change such a revolution will bring
about isn’t monumental, but it is definitely a change in a better
trajectory than the one we are heading. The use of the word bubble many bitcoin anti-sympathizers
are prone to is fallacious since most bubbles in history
were carried out by scammers who were willing to take
advantage of people’s greed. Bitcoin is far from what
these people promulgate. Yes, some ICOs have a bubble
element entrenched to them but one needs to be able to
discriminate between ICOs and bitcoin. The game is a marathon
and not a sprint. It is a game that involves
high stakes, risk, drama, influence, persuasion,
money, politics, psychology, philosophy, economics,
and history. For some reason, it is a game
many people find tantalizing. And, sometimes, that’s all
it takes to play a game and, eventually, redefine
our world forever. Hi everyone, Andrian here, I think
that is my favorite video so far. I guess being a bitcoin evangelist
myself played a major role in this. You know, we live in an age where almost everything changes at
an unprecedented pace and I truly believe that every person should be
able to keep up with the changes that occur in most
areas of our life. Bitcoin has been one of the most
interesting human creations ever conceived and it could be that through this creation
we could engineer monumental shifts not only in the way we
transact with each other but also in the way we view
our governing systems. I hope that through my video I managed to shed some light on the most
nebulous aspects of this incredible topic. As always thanks for watching and make sure to comment,
smash the like button and share so that we can raise
more awareness around bitcoin. Also you can follow me on
Instagram, Twitter, and Facebook to stay in the know and interact
with me on a daily basis about topics that revolve
around psychology, philosophy, self-development, and many
more interesting stuff. See you soon.

20 thoughts on “Bitcoin Documentary 2019 – The Most Interesting Human Creation Ever Conceived”

  1. Hi everyone. Hope you enjoyed the video as much as I enjoyed creating it. Please don't forget to subscribe and turn on notifications so you can be informed when i will release my next video essay. I am also curious to know what's your opinion on Bitcoin and if you have any questions I am looking forward to answer them in the comment section below.

  2. Pretty cool video, exploring interesting concepts. However I'd like to know your opinion about the consequences of one company, Blockstream and their small band of developers, singlehandedly deciding the fate of this extremely powerful and world changing technology? Clearly they have decided that Bitcoin can not scale on its own and we have to use THEIR proprietary technology, the Lightning Network, in order to use the protocol at scale. Which they of course profit from.

  3. Hi, I liked your video very much please examine this idea of mine about Bitcoin experiment.
    White paper for Bitcoin future.
    Bitcoin is a computer program that will takes over the Planet. Our planet needs 5 global institutions to solve planetary issues. 1. Satoshi Nakimoto Institute 2. Land Institute 3. Water Institute 4. Air Institute 5. Space and beyond institut.

    Up to certain bitcoin block mining should be done by these 5 institutions only. Governess : Let's say Global Water Institute: its policy and president have been nominated by ocean and clean water lover around the world, everyone can be member. And pay monthly small fee to be able to vote for president. This institute does water cleaning, ocean guarding, every common good thing about water. since they are mining bitcoin, they can hire people buy equipment ect. The purpose is keep planet save from human danger. And so other institutions organize same way and goals. And bitcoin protocol can be changed and developed by this institutions only. Satoshi Nakomoto Institute will deal with government. Create bitcoin integration Programs for tax collection, Id cards, voting mechanism ect. By doing so I think bitcoin will be computer program for better world.

  4. Hi. Excellent video. I really enjoy the content from your blog, twitter, instagram and now youtube channel. Keep goin!. If I may suggest you something, it would be to try to not to be monotonous during the speaking, I think that it is OK to add some expressive tone to the words.

  5. So, how does the small wage person use bitcoin? How do we pay for gas, groceries, and other bills this way? i'd love to screw The Fed and Big Banks.

  6. Actually, I was monitored and observer bitcoin exchanges past few years. And here is what I thought.
    Apparently, Bitcoin spinner so fast and fearless for the Worldwide Banking System. Bitcoin will be not gold and Bitcoin spinning out of control.
    Today Bitcoin will be an opponent and fearless for the World Bank System and the U.S. Fed…
    My question is who will control and stop Bitcoin Spinning, before crashing coming.

    Bitcoin is equal to "Bull and Bear" ten years ago!? Today bitcoin created an outburst before the bubble and bursting…

    Bitcoin Crash June 26, 2019.

    Here is my comments on bitcoin two years ago.




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