Magic Money: The Bitcoin Revolution (2017)
https://www.imdb.com/title/tt6467152
Subttles/Altyazı:
* Русский
* Türkçe
* English
Subttles/Altyazı:
* Русский
* Türkçe
* English
Transcript
00:21So here I have two devices
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00:56Money was transferred
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undefined:undefinedin your lifetime.
01:11This technology
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undefined:undefined
undefined:undefinedsee money being used
01:35as a medium of exchange.
01:41Money is at
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undefined:undefinedor remittance provider.
02:00And ultimately it's
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undefined:undefinedthe most important inventions
02:16ever in the history
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undefined:undefinedhearing about it.
02:26If you'd only heard about
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undefined:undefined
undefined:undefinedisn't actually a coin.
02:46Bitcoin is a new form of money.
02:50A currency that lives
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undefined:undefined41
undefined:undefined
undefined:undefineddifferent things.
03:03It's both a currency
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undefined:undefinedpayment networks,
03:16but they're not currencies.
03:17Bitcoin is both of those
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undefined:undefined
undefined:undefinedthat almost for free.
03:29And there's nothing that
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undefined:undefined
undefined:undefinedBitcoin you can do these
03:38teleportations anonymously.
03:40So with a push
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undefined:undefinedof the global financial crisis
03:53an author using the
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a Peer-to-Peer
:undefined
undefined:undefinedsoon become the building block
04:07for what is today the
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undefined:undefinedother presentations,
04:23even earlier today.
04:25I started out working at
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undefined:undefinedmid-town or down-town Manhattan.
04:44Tone Vays
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undefined:undefineddifficult to explain.
05:01You want to try and break it
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undefined:undefinedall used to computers.
05:13We're all sending emails,
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undefined:undefinedalways retain the original.
05:24And when it comes to financial
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undefined:undefinedthat Bitcoin solved.
05:36It was able to take something
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undefined:undefined
undefined:undefinedit's core Bitcoin
05:51is basically a new
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undefined:undefinedthe Bitcoin platform is one of
06:07the things that make it so
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undefined:undefinedcountry's users can send
06:27money to other country's users.
06:29With Bitcoin there
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undefined:undefinedphone or on their computer
06:41and once they have the
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undefined:undefinedthat runs the Bitcoin protocol
06:53is commonly called a wallet.
06:55A digital purse which
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undefined:undefined
undefined:undefinedprogramming code is
07:08freely available to add
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undefined:undefinedthe Bitcoin network.
07:28-We have Jason for whom
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undefined:undefined
undefined:undefinedsee how quick and easy it is.
07:42On my end I will hit send.
07:46And Jason is gonna hit request.
07:50So when he hits request, a
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undefined:undefinedmy phone is trying to scan it
08:07and there it is.
08:08I scanned it.
08:10So I feel kinda generous,
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined142
undefined:undefined
undefined:undefineddollars worth of Bitcoin.
08:28CELL PHONE DINGING
08:30And there it is.
08:31Okay so that took
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undefined:undefinedallows the user to effectively
08:52become their own bank.
08:56This is a complex idea to
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undefined:undefinedto rely on third parties
09:16for lots of different
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undefined:undefinedus to do all of those things
09:27without any third parties.
09:29So in that sense we
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undefined:undefined
undefined:undefinedremittance system,
09:36we can do all these
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undefined:undefinedknow, any business, they had
09:51a ledger that kept track of
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undefined:undefinedstored on Paypal servers
10:00in Paypal's data
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undefined:undefined
undefined:undefined
undefined:undefinedimpossible to have consensus
10:10on a distributed
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undefined:undefined
undefined:undefinedbeing on one data centre
10:20it's on everybody's computer
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undefined:undefinedledger known as the block-chain
10:33is what could make Bitcoin a
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undefined:undefined
undefined:undefinedcreation of new units
10:49and verify the
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undefined:undefinedto solve or close a block
11:13and are rewarded with
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undefined:undefinedpuzzle, they're actually
11:28verifying the integrity of
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undefined:undefined
undefined:undefinedof solar panels.
12:02It's a lot.
12:04Um that's about as much
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undefined:undefined
undefined:undefinedBitcoin transfers
12:27and the security of the network.
12:29Yeah it is one big super
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undefined:undefined
undefined:undefinedof computers to guess it.
12:42Once that guess is correct,
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undefined:undefinedfor facilitating transfers,
12:56recording transfers, and
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undefined:undefinedsure that doesn't happen.
13:13- Say if Alice wants
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undefined:undefinedand eventually the final copy
13:27will be relayed to Bob.
13:31That's how email works, that's
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undefined:undefinedif that were to be the way
13:44that money was
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undefined:undefined
undefined:undefinedscarcity premise of money.
13:57And so this was the problem
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undefined:undefined
undefined:undefinedto send one Bitcoin to Bob,
14:10she creates a transaction
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undefined:undefinedembedded in it instructions
14:19to the rest of the network
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undefined:undefined258
undefined:undefined
undefined:undefinedBitcoin is really difficult
14:33for people to understand is
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undefined:undefined262
undefined:undefined
undefined:undefinedthinking more about Bitcoins
14:44and you were explaining
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undefined:undefinedespecially Bitcoin mining
14:56as well because Bitcoins are
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined271
undefined:undefined272
undefined:undefined
undefined:undefinedinteresting similarities between
15:14Bitcoin and a precious metal
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undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefinedof a mine until eventually
15:38the mine is exhausted
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undefined:undefinedis halved every four years
15:54until the year 2140
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefinedthe attributes of gold
16:08almost as if to create a
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefinedobviously liked maths a lot.
17:19And he sat down and did some
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undefined:undefined
undefined:undefinedaccommodate everybody using
17:31Bitcoin for this.
17:32And each Bitcoin
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined301
undefined:undefined
undefined:undefinedSatoshi, it's 100 millionth
17:45of a Bitcoin, would still be
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undefined:undefined
undefined:undefinedthe white paper for the peer
17:59to peer electronic cash
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undefined:undefined
undefined:undefined
undefined:undefinedshe is of British origin
18:14due to the writings
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undefined:undefined
undefined:undefinedsystem which would
18:27decentralize money
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefinedpeople in Bitcoin.
19:25But what difference does it make
19:27whether we know who
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undefined:undefined323
undefined:undefined
undefined:undefinedit gives us a lot of
19:40advantages in our day
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undefined:undefined
undefined:undefineddon't know if we'll ever know
19:55but it's a fun game.
19:57- Am I Satoshi?
20:02I don't think I'll
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undefined:undefined
undefined:undefinedevolves into the future.
20:30Because Bitcoin
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undefined:undefined
undefined:undefined
undefined:undefinedkeys in our daily lives.
21:12Keys allow us to access and
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undefined:undefined346
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undefined:undefined
undefined:undefineda few too many to drink
21:31and your loyal friend
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined351
undefined:undefined
undefined:undefinedof our finances.
21:45Although you may
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined355
undefined:undefined
undefined:undefinedwithdrawal or transfer from
21:55your bank account, the
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undefined:undefined
undefined:undefinedindividual to hold
22:10the private keys of
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undefined:undefined
undefined:undefined
undefined:undefinedof Scotland, they had 700,000
22:28accounts, ATMs, just went
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undefined:undefined368
undefined:undefined
undefined:undefinedsuspected fraud or you did
22:43a charge in an unusual location.
22:46Well guess what, the
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined373
undefined:undefined
undefined:undefinedprivate key encryption.
23:00And what that means is
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined377
undefined:undefined
undefined:undefinedcurrently reside.
23:15And that literally is a number,
23:18that private key is a number.
23:19Bitcoin, nobody
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undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefined
undefined:undefinedcan open and unlock your,
23:36access to your funds.
23:39But let's be clear, if you
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undefined:undefined
undefined:undefined
undefined:undefined
undefined:undefined
undefined:undefinedpaper with two squares on it
23:57or two things that look
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined398
undefined:undefined
undefined:undefinedBitcoins to this address.
24:08And the bottom one is the
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined402
undefined:undefined403
undefined:undefined
undefined:undefinedreally shouldn't be showing
24:20around everywhere because
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined407
undefined:undefined
undefined:undefinedessentially lost your Bitcoins
24:29because nobody else has a
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined411
undefined:undefined
undefined:undefinedscan this off yourself
24:39and take the Bitcoins
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined417
undefined:undefined
undefined:undefinedbut it is true Bitcoin inside.
25:17Now how to redeem the
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined421
undefined:undefined
undefined:undefinedprivate key information
25:39which is essentially
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefined
undefined:undefinedhas a very strong sense
26:02of authority or authenticity
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undefined:undefined430
undefined:undefined
undefined:undefineda part of Bitcoin that
26:16they can hold in their
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefinedis built on public private
26:30key encryption the entire work
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefinedthe first place.
26:45I mean when credit cards were
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undefined:undefined
undefined:undefinedwhenever it is that they feel
26:58that they have a right to do so.
27:00With a credit card, whenever
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undefined:undefined
undefined:undefined
undefined:undefinedtransaction, for example,
27:14online or so, you're taking a
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined453
undefined:undefined
undefined:undefined
undefined:undefinedcompletely different model where
27:27the control is more weighted
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undefined:undefined
undefined:undefineda Bitcoin address
27:42and anyone in the world
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefinedput up on the stage a sign
27:57that had a Bitcoin address,
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefined
undefined:undefined
undefined:undefinedpayments are a push system,
29:40meaning that the funds are
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undefined:undefined472
undefined:undefined
undefined:undefinedthat Bitcoin transactions
29:54are final and
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined476
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undefined:undefined
undefined:undefinedand say this was a fraudulent
30:10transaction and then the credit
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined
undefined:undefinedis the three percent fee.
30:21Merchants usually pay
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined486
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undefined:undefined
undefined:undefinedvery, very rarely happens.
30:37Almost never do you order
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undefined:undefined491
undefined:undefined492
undefined:undefined
undefined:undefinedis actually stolen.
30:51And your credit card
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined496
undefined:undefined
undefined:undefinedfraudulent transaction.
31:06- We have some businesses
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined501
undefined:undefined
undefined:undefinedan innovative option,
31:17and for them they have
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined505
undefined:undefined
undefined:undefinedon the credit card.
31:27We don't charge anything.
31:29We don't have a minimal fee.
31:31You can pay 10 pesos, 50
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undefined:undefined
undefined:undefined
undefined:undefinedfrom mum and pop
31:47stores to multinational
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined516
undefined:undefined
undefined:undefinedgoods to over 200 countries.
33:07Last I checked, Amazon only
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined520
undefined:undefined
undefined:undefinedBitcoin, there would be
33:23no fraud, there would
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined525
undefined:undefined526
undefined:undefined
undefined:undefinedservices seamlessly.
33:41And although it's becoming
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined530
undefined:undefined
undefined:undefined
undefined:undefinedsafest, fastest, best option
33:57for people that don't have
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined535
undefined:undefined
undefined:undefinedthat they're in.
34:07And Bitcoin is this fantastic
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined539
undefined:undefined
undefined:undefined
undefined:undefinedapp and now they're a part
34:17of the world's economy.
34:21- Something like 33 per cent of
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined545
undefined:undefined
undefined:undefined
undefined:undefinedare good so as a merchant,
34:36yeah, pay with Bitcoin,
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined550
undefined:undefined
undefined:undefinedreally want's going to help
34:48lift them up out of poverty.
34:52- So Bitcoin does get
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined555
undefined:undefined
undefined:undefined
undefined:undefinedmight not even have ID's
35:04to open a bank account, but
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined560
undefined:undefined
undefined:undefinedlatest World Bank figures,
35:18there are approximately
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined565
undefined:undefined
undefined:undefinedpopulation of the world
35:33to participate in
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined569
undefined:undefined
undefined:undefinedinstantly, basically for free,
35:48and it's impossible for
undefined:undefined00:00:26,140 --> 00:00:30,140
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undefined:undefined574
undefined:undefined575
undefined:undefined
undefined:undefinedanyone, anywhere in the world,
36:07right now, and there's nothing
36:08that anybody can
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined580
undefined:undefined
undefined:undefinedbeing on the planet.
36:20- Wikileaks was able to
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined584
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undefined:undefined
undefined:undefinedof America, to blockade
36:36any donations to Wikileaks.
36:39Say what you will about
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined590
undefined:undefined
undefined:undefinedability to donate money
36:54to whatever political
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undefined:undefined594
undefined:undefined
undefined:undefinedputs the private keys
37:09of wealth in the hands of
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined599
undefined:undefined
undefined:undefined
undefined:undefinedtonight having burlesque dancers
37:36receiving Bitcoin tips.
37:39The reason why I do this is
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undefined:undefined
undefined:undefinedwe want to make a really fun
37:56and see what can be
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undefined:undefined609
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undefined:undefined
undefined:undefinedthe true use of Bitcoin.
38:18The true use of Bitcoin is to
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined614
undefined:undefined
undefined:undefinedinstitutions once thought
38:32to be invincible were
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined618
undefined:undefined
undefined:undefinedtakes tax payer money
38:47and gives it to an irresponsible
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined623
undefined:undefined
undefined:undefinedto shore up their losses.
39:05Such a thing occurred
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined627
undefined:undefined
undefined:undefinedconfiscated from people.
39:20I remember telling my
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined631
undefined:undefined
undefined:undefinedlaughing at me saying,
39:32no it's just Cyprus
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undefined:undefined635
undefined:undefined
undefined:undefineddollars or Euros into the bank,
39:48title to the dollars or
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined639
undefined:undefined
undefined:undefinedin many of the countries
40:02where they can be bailed in,
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined643
undefined:undefined
undefined:undefinedand podcast host.
40:16Having founded Stockhouse.com,
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined647
undefined:undefined
undefined:undefinedexactly what's gonna happen
40:31in the future,
40:32but it's definitely going
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined652
undefined:undefined
undefined:undefinedpeople who live in Europe is
40:41on January first of this
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined657
undefined:undefined658
undefined:undefined
undefined:undefinedthe banks then they came up
40:54with some legislation so
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined662
undefined:undefined
undefined:undefined
undefined:undefinedhave it in place
41:03so they know what's coming.
41:06- I see Bitcoin as a way to
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined668
undefined:undefined
undefined:undefinedhard and they've paid taxes
41:23and they've done everything
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined672
undefined:undefined673
undefined:undefined
undefined:undefinedthat are raided to help
41:40fund the banking system.
41:41We're talking people
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined678
undefined:undefined679
undefined:undefined
undefined:undefineddecade was just a precursor
41:58to a much larger calamity.
42:01If this is the case, how will
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined684
undefined:undefined
undefined:undefinedprivate keys to their wealth.
42:17However, this also comes
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined689
undefined:undefined
undefined:undefinedhappens to your own money.
42:32So it's your job to make sure
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined693
undefined:undefined
undefined:undefinedjust call the credit card
42:42company and they cancel it
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined697
undefined:undefined698
undefined:undefined
undefined:undefinedcall to ask for permission
42:55to use your Bitcoins however
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined702
undefined:undefined
undefined:undefineddays after the exchange
43:07announced that as much
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined706
undefined:undefined
undefined:undefined
undefined:undefinedmissing Bitcoins were stolen,
43:20voided by technological
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined711
undefined:undefined
undefined:undefinedpoint they were doing
43:35over 100 million dollars
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined715
undefined:undefined
undefined:undefined
undefined:undefined850,000 Bitcoins of which
43:54200,000 were found afterwards
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined721
undefined:undefined
undefined:undefinedexact centralization risk
44:08is what Bitcoin is
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined725
undefined:undefined
undefined:undefinedtop of that, put the control
44:22of that company's
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined730
undefined:undefined
undefined:undefinedhacks of companies
44:41that are involved in Bitcoin.
44:43And one thing you have to
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined735
undefined:undefined
undefined:undefinedaccess to the private key
44:56to someone's wallet, you
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined739
undefined:undefined740
undefined:undefined
undefined:undefinedwhere if you want to
45:08take money out of that target,
45:12you have to have infiltrated
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined745
undefined:undefined
undefined:undefinedin a bank for safe keeping.
45:24And so that sort of mentality
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined749
undefined:undefined
undefined:undefinedthat's the most challenging
45:40about Bitcoin is that
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined754
undefined:undefined
undefined:undefinedthe Mt. Box Bitcoin exchange
47:01in 2014 caused much confusion
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined759
undefined:undefined
undefined:undefinedthe financial industry.
47:20- The big question, the
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined763
undefined:undefined
undefined:undefinedtrade shows and you listen to
47:35the media, the question
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined767
undefined:undefined
undefined:undefinedthat blotching technology
47:45will impact the financial
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined773
undefined:undefined
undefined:undefinednon-sustainable system
48:04and it couldn't be applied
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined777
undefined:undefined
undefined:undefined
undefined:undefinedwhere Bitcoin has been
49:03most popular so far
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined782
undefined:undefined
undefined:undefinedcaught on to a lot of people
49:12because you just simply,
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined786
undefined:undefined
undefined:undefinedthings like that.
49:22So, definitely that is
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined790
undefined:undefined
undefined:undefinedunlikely of places.
49:40- My name is David
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined794
undefined:undefined
undefined:undefinedtraditional ATM machine,
49:52so the customers have a
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined798
undefined:undefined
undefined:undefinedreally appealed to me.
50:06And the fact also that it
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined802
undefined:undefined
undefined:undefinedthe largest innovation
50:22in monetary science since
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined806
undefined:undefined
undefined:undefinedour finance industry,
50:36gonna disrupt so much.
50:38It will also rapidly
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined811
undefined:undefined
undefined:undefinedof Merrill Lynch
50:58or Bank of America.
51:00It'll be millions of
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined816
undefined:undefined817
undefined:undefined
undefined:undefineddifficult to get people to pay
51:15for a lot of these goods and
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined822
undefined:undefined
undefined:undefined
undefined:undefined
undefined:undefined
undefined:undefined
undefined:undefinedheard the noise.
51:37Before Bitcoin I was
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined830
undefined:undefined
undefined:undefinedplace if at all.
51:51And then I discovered Bitcoin
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined834
undefined:undefined
undefined:undefinedas it potentially could be.
52:03And I saw Bitcoin and I saw
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined839
undefined:undefined
undefined:undefinedpay for roads and schools
52:15and hospitals, so if the
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined843
undefined:undefined
undefined:undefinedmoney to go kill people
52:24in other countries that
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined847
undefined:undefined
undefined:undefined
undefined:undefinedaccounts and dollars and Euros,
52:36governments can seize
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined853
undefined:undefined
undefined:undefinedit takes away those tools
52:45from government and I
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined858
undefined:undefined
undefined:undefineddecentralized payment system.
53:00One where each individual
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined863
undefined:undefined
undefined:undefinedof our world look like
53:16with such a revolutionary tool?
53:19The possibilities
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined868
undefined:undefined
undefined:undefinedjust like magic.
53:36I'm at a loss for words
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined873
undefined:undefined
undefined:undefinedability to send and receive
53:51money with anyone, anywhere in
undefined:undefined00:00:26,140 --> 00:00:30,140
undefined:undefined877
undefined:undefined878
undefined:undefined
undefined:undefined