Bitcoin Q&A: Scaling and "Satoshi's Vision"

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How big will the Bitcoin blockchain get? How will optimisations that conserve space affect growth, while keeping full nodes affordable to run? Why should we add second layers for microtransactions instead of moving to altcoins? What design trade-offs will we make regarding scalability, decentralisation, privacy, and smart contracts? Is “Satoshi’s vision" outdated and an appeal to authority?
Chapters
0:00 In terms of storage, how big will the Bitcoin blockchain become?
2:34 Since Bitcoin is not efficiently used for micropayments, which was Satoshi's vision, is the concept failing? Why do we need second, third, or fourth layers on top of the Bitcoin blockchain for what was supposed to be done by design? Should we move to altcoins?
9:17 Would I still need to shift to altcoins, which might represent much less decentralized systems?
These questions are from MOOC 9.6 and 9.7 sessions, which took place on March 23rd and March 30th 2018 respectively. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN-511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles.
If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: / aantonop
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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.
Follow on Twitter: @aantonop / aantonop
Website: antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1: www.amazon.co.uk/Internet-Mon...
[NEW] THE INTERNET OF MONEY, v2: www.amazon.com/Internet-Money...
MASTERING BITCOIN: www.amazon.co.uk/Mastering-Bi...
[NEW] MASTERING BITCOIN, 2nd Edition: www.amazon.com/Mastering-Bitc...
Translations of MASTERING BITCOIN: bitcoinbook.info/translations...
Subscribe to the channel to learn more about Bitcoin & open blockchains!
Music: "Unbounded" by Orfan ( / orfan )
Outro Graphics: Phneep (www.phneep.com/)
Outro Art: Rock Barcellos (www.rockincomics.com.br/)
Join the aantonop Channel: aantonop.io/joinaantonopyt

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3 авг 2024

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Комментарии : 80

@hedyadily550 6 лет назад

Andreas should be invited by US regulators to explain to them what bitcoin is. Like he did for Canada year ago.

@macgyver9013 3 года назад

I think theyd rather control the narrative

@PipiRoe 6 лет назад

THE WISEST MAN ALIVE

@Satssetyoufree Год назад

Andreas nailing it as usual.

@NinoGuariscoJR 6 лет назад

Excellent. Thank you.

@ServantOfNone 6 лет назад

Perfectly Said. Thank you so much

@Azsc2011 6 лет назад

You always put me at ease for my support of Bitcoin. Thank you Andreas.

@marinaheartcrypto6059 6 лет назад

Excellent explanation, thank you Andreas! 😀

@kevincass5410 6 лет назад

Man I soak this shit up! Thanks Andreas!!!

@kimhughes1147 6 лет назад

Kudos - succient and insightful

@cryptospacenews889 6 лет назад

Thanks for share your knows! Great content

@TurtleMarcus 3 года назад

Thanks, this answered everything I wondered about regarding this. Been reading a lot about Bitcoin Cash and Bitcoin SV, and I had yet to find good counter-arguments to increasing the block size. But I now see the trade-off in those cases.

@TheBitcoinExperience Год назад

4 years later and there are still people out here who don't understand these very simple concepts.

@Needlestitch 6 лет назад

Thanks Andreas. Virtuously patiently explained, again. I am not very patient: If people that have been in crypto for some time, haven't gotten it by now, I wonder if Bitcoin is for them.

@enzofer2223 6 лет назад

Wow, awesome!

@peterpetrov6522 6 лет назад

Bitcoin is on the right track! The lightning network capacity will grow exponentially like Bitcoin did in its yearly years.

@gvsrusa2 6 лет назад

Thank you so much for another video. I learned a lot from your videos. I have a request. Can you please explain the vulnerabilities under the section Smart Contracts in Ethereum Book. I’m basically new to programming. Keep up the good work and stay healthy.

@mathieug.6855 6 лет назад

how big will the bitcoin (BTH) blockchain become ? 32MB/block so 32MB *6blocks/hour * 24*356= 1.6 TB per year. So if you want to know cost for storage of the whole chain a year on a hard drive that would be 50$ on SSD around 300$ with current prices.

@kastakan 6 лет назад

Andreas, I love your videos! Please tilt your camera forwards just a little bit so the top of your head is just inside the frame. ;)

@lucasino3254 6 лет назад

I've read your book (The internet of money: volume 1) and did a school literature study on the subject of Bitcoin scaling, got an 87 out of 100 on it. Could've been higher if I had an interview with a blockchain expert, but I was on a tight schedule. In theory, would you be up for an interview with a student in the future?

@MartinBoerma 6 лет назад

Hi Andreas, you talk about the trade off between performance and security. I'm curious what your opinion is regarding Hashgraph because they claim to have broken that trade off.

@chris15325 6 лет назад

Excellent logo 😂

@dbased1915 6 лет назад

maybe in 4 years i can use that same pic lmao.

@daniellurkin 6 лет назад

The problem is blockstream.

@maesitos 2 года назад

6:20 yes comrade

@cableguyzne 6 лет назад

Andreas...were you involved in the early 90's cypherpunks or the MIT cryptography discussions?

@davidbermudez7704 6 лет назад

Satoshi Nakamoto is a pseudonym Satoshi Nakamoto and cypherpunk Hal Finney worked on creating BTC day and night for DECENTRALIZATION not centralized

@monkeytron6858 6 лет назад

Can’t you just hash the entire blockchain or at a minimum the recent action so there is no need to download the entire thing and just validate the accepted hash?

@FellowWorldCitizen 6 лет назад

Monkey Tron you would need the entire chain to validate that accepted hash :S

@SoldierOfTwilight 6 лет назад

You can't check the proof of work if you only have a hash. Who says the hash is the correct hash?

@bullmaguire7330 5 лет назад

Does having more nodes increase transaction speed?

@hineskittvelvett198 4 года назад

Compuserve, AOL, Bitcoin

@James-mt1sx 6 лет назад

Any views on what Elastos is trying to do?

@nion456789 6 лет назад

Smashed the like......

@leondavibe 6 лет назад

agreed trade off, only problem is currently the trade of is so heavy on decentralization, that bitcoin has to keep doubling in value with each halving all the way to 2140, to sustain current fees. surely the power of halving or doubling is lost on most people, ie just folding a piece of metal double 20 times gets you to over 1 million layers ie the way samurai swords were made any market saturates at some point of time, price is derived from demand decentralization is a scale surely a slight shift allowing the network to expand enough to just get enough txn to cover the block reward. Which we know is also using the power of halving. acceptable fee per transaction should be the goal. as that is the metric that determines if all can use it even if just to open channels, high fees exclude most of the world, Acceptable fees guarantee the survival of bitcoin. if we know this has to happen at some point in time why not segwit 2x which over 90% signaled for. clearly the forced small block is looking more and more a ploy as inventive to on-board users on LN which in reality can only work if more centralized so we will deter decentralization with centralization wait what ?

@enzofer2223 6 лет назад

leon coetzee - BCASHER ALERT!!!!

@mcsynk 6 лет назад

Sorry, not on patreon so I hope Andreas or someone else notices this question: what happens if illegal data gets added to the block chain? Does possessing it become illegal. I would be more surprised if this hadn't already happened to be honest.

@mcsynk 6 лет назад

alexjohnward Thanks. What about image files themselves?

@electroplaque 6 лет назад

alexjohnward That's not illegal data, it's a link. The link destination will just be shut down and the people in charge arrested. If the link was illegal data, then even after it leads nowhere it would still be illegal.

@mcsynk 6 лет назад

electroplaque Sorry, what I meant was rather than links, could image files themselves be encoded onto the chain? This would clearly be more of a problem than links.

@robotarchie100 6 лет назад

mcsynk AA has said fees for jpeg code would be prohibitive.

@brennanhm 6 лет назад

Please debate Roger Ver

@enzofer2223 6 лет назад

brennanhm - Ver wouldn't do it because he knows aantop would ruin him.

@smurt9733 6 лет назад

ANDREAS IS SATOSHI

@Cryptoversity 6 лет назад

S Murt Nah, he's the real BitCoin Jesus. I think Dave Kleiman was Satoshi. He fits the profile and explains why the 3M BTC wallet has not been touched, Craig Wright couldn't obtain they private key

@cableguyzne 6 лет назад

I "think" Hal created the Satoshi N. name; but it was a group effort for the original Bitcoin code. I'm guessing the HDD/PC's used from those times are gone; hence so are the original wallets with Billions worth of USD.

@cableguyzne 6 лет назад

mailing-list-archive.cryptoanarchy.wiki/

@levelupwithsam 6 лет назад

I love how in the video Aantonopolis clarifies that Satoshi is just a human, not a deity, and the top comment compares him with Jesus xD Oh humans...

@gianmariaroccoli 6 лет назад

Rob Krueger Hal ( Finney ) obviously....

@zambino8763 6 лет назад

Where do you pull your questions from? Ethereum is getting nuts...hardly usable. Follow me on twitter @therealzambino

@cryptobiscotto6061 3 года назад

should have raised it to 4MB at least. sending 1 floppy disk every 10 minutes.. jesus.

@AlanBilsborough 6 лет назад

The day I start disagreeing with Andreas is the day I get out of Bitcoin. There isn't a more fair minded person in the crypto world.

@flysnoopy2499 6 лет назад

No offence but could you back away from the camera lens a little bit. It's not how you look, it's just feels like you are right there within spitting distance, if you know what I mean. :-)

@johnmcook1 3 года назад

The real alt coin is btc itself. The segwit soft fork failure. Resulted in the hard fork need to get back to the true bitcoin. One that could in fact scale. And having to hard fork lost value the soft chain failure fork got to keep. Segwit is a total failure it never solved scaling or fees in any sense of the word. Devs ignored miners and went on ahead. Devs that are not satoshi and took btc as their own. totally fucking it up.

@morgan3896 6 лет назад

Satoshi is not a person. Satoshi is a time travelling artificial intelligence. it's been proven unequivocally.

@TheTunnelVizion 6 лет назад

Umm isnt Bitcoin super centralized now..?? Correct me if Im wrong, but last I checked, one company dominates the mining hardware and produces 51% of the blocks

@zacharibelivanis1777 6 лет назад

Mat G which company?

@sand3sh2 6 лет назад

Yes Bitmain

@sand3sh2 6 лет назад

Mat G we need to see how it will play out in future it's high time bitcoin embraces Asic complaint self adjusting algorithm which will dether such companies and give the power of mining back to people

@FellowWorldCitizen 6 лет назад

Maybe for bcash, not for bitcoin

@zacharibelivanis1777 6 лет назад

Sandesh Gangadhara, Would you care to show any evidence of this? Same for you, FellowWorldCitizen. Do you have any evidence for this claim?

@ziomanzo 6 лет назад

video.like++; person.aantonop=''awesome'';

@xaverj8932 6 лет назад

Antonopoulos repeats himself when it comes to scalability vs decentalisation. - It is an absolut riddel to me how he, as a long term ambassador for Bitcoin in generell, has not a clear point of view when it comes to the meaning of decentralisation. It's not rocket science to understand the simplest argument against this. First of all every US citizen is dependent on broadband internet mostly AT&T and with lower market share Verizon or Telecom. It should be easy to understand that the so called "decentralised small block miners" could be easily switched off by AT&T etc. if the deep state forces to do so. But would it so easy to disconnect a proper datacenter with high available connectivity to big intercontinental tiers? It would be - but the damage would be that the US would look imbecile and highly unattractive for future investors. A well connected data-center with diverse top tier intercontinental broadband connections does much more for real 'decentralisation' than the silly idea that everyone should be a miner to prevent centralisation.