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Beginner’s Guide #1: Andreas M. Antonopoulos on Why We Need Bitcoin



On this interview, I speak to Andreas M. Antonopoulos; speaker and greatest promoting writer of Mastering Bitcoin and an unrivalled Bitcoin evangelist. Andreas explains why the present financial system is now not match for goal and why Bitcoin is the reply.

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“So, why Bitcoin? As a result of the Twenty first-century wants a Twenty first-century system of web cash that’s open, borderless, impartial, censorship-resistant, immutable and permissionless… and that’s Bitcoin.”
— Andreas M. Antonopoulos

Location: Skype
Date: Monday, eleventh November
Challenge: aantonop.com
Function: Writer & Public Speaker

Welcome to The Beginner’s Guide to Bitcoin

Bitcoin will be intimidating for rookies. The protocol is difficult, the group will be aggressive and unforgiving, foolish errors can lose you cash, and it’s straightforward to succumb to altcoin advertising.

Bitcoin does although, give you the chance to carry a brand new sort of financial asset, one which may’t be seized by the federal government and is censorship resistance and It has the potential to alter the best way the world.

The purpose of What Bitcoin Did has all the time been about making issues easy; there are not any silly questions, and the present is right here to assist rookies navigate this new world. To kick off 2021, we’re launching a particular collection to assist rookies perceive Bitcoin. We will likely be trying on the fundamentals from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Half 1 – Andreas M. Antonopoulos on Why We Need Bitcoin

Bitcoin is multifaceted. Some deal with Bitcoin as a speculative instrument for rising wealth, others as a method of avoiding monetary censorship from conventional fee channels, and a few use it as a method of claiming their financial sovereignty and eradicating energy from the banks and state.

The true motive Bitcoin is important is for all of those causes and extra.

On third January 2009, Bitcoin was launched to the world by its pseudonymous creator (or creators), going by the title of Satoshi Nakamoto. Bitcoin introduced with it a substitute for the banking system, a method of really controlling your funds and to ‘be your personal financial institution’.

Being your personal financial institution is extremely highly effective however is usually a complicated and misused time period. There are presently 1.7 billion folks internationally who would not have entry to correct banking providers. Bitcoin can repair this by permitting customers to carry, ship and obtain worth.

Cross-border funds are costly and complex utilizing conventional banking and monetary programs, and that is assuming the recipient has the means to obtain fee. Bitcoin fixes this.

Governments have a historical past of placing stress on fee programs to cease permitting funds to recipients that they deem unfit. In 2010 Visa, Mastercard and PayPal all stopped permitting funds to WikiLeaks. Bitcoin mounted this.

Bitcoin’s energy is in its decentralised, censorship-resistant, impartial, permissionless community that permits you to transact globally with none middleman or third occasion and with whoever you need for no matter motive you need. Bitcoin would not care.

We will quickly be dwelling in a cashless society, government-issued ‘fiat’ foreign money will turn into solely digital, and we’ll wave goodbye to any remaining shreds of monetary privateness that also exist. Some governments will look to create a cryptocurrency various; offering the proper instrument for elevated monetary surveillance and oppression and represents the antithesis of Bitcoin.

So, possibly we should select whether or not its Bitcoin or a state-run digital foreign money. Ought to we select Bitcoin?

This interview beforehand appeared on my different present Defiance and is a good place to begin

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21 Comments

  1. I recently came upon a video of Ed Snowden asking why Bitcoin's developers haven't made it private. You talk about the value of financial privacy here, but you and everyone else online seem to be ignoring Snowden's concerns. why?

  2. Lo and behold 2 years on Canada freezes bank accounts of its citizens whilst exercising their democratic right to protest. So much forward thinking here. Thanks for giving back Peter and Andreas

  3. No privacy with Bitcoin now, gas fees are very high
    As a store of wealth it’s great but it’s lost satoshi’s vision because us humans and mainly governments had to bastardise it

    Monero = a true fungible token that lives up to satoshi’s vision

    Funny how governments are banning it from exchanges ,
    Because they can’t put it under surveillance and tax the living daylights out of it
    ✌️

  4. Now is the perfect time to buy, hold and invest in bitcoin. Do you know that there is an amazing platform where you can earn big weekly when you invest your bitcoin? I have made over 67BTC with the help of a professional investor, Mr Donald James. His trading strategy is one of the best in the market and I recommend you contact him if you want to become a bitcoin millionaire. Email [email protected]gmail.com to learn how to invest in a legitimate bitcoin investing platform.

  5. Another great interview with an amazing highly intelligent man of principle & morality. Funny thing is LinkedIn gurus talk of giving something of value to those you want to engage with. Andreas gives nothing but value every time he speaks and seeks nothing in return.
    Crypto altruism at it's finest.

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