This is so epic. The world is going through a monetary paradigm shift. Meanwhile those of us already in this industry worry about the details. Transaction times, this alt or that one, PoS vs PoW, whatever. As interested as I am in all that, the big picture is what's most fascinating. Immense systems of value and trade are becoming more obsolete by the minute. The irony is that the people and organizations who benefited the most within the legacy system, also stand to lose the most when it implodes. Individuals with paper or derivative wealth will lose purchasing power overnight, while organizations and governments will lose real power - just as fast. What a time to be alive. Thank you Andreas for this talk, you are a legend.
I stopped watching television decades ago. Not because it failed my truth check. It failed my relevance check. Consuming my time with irrelevant sports "news", that were the truth but completely irrelevant to me.
you don't need to go to zimbabwe. here in germany, when my grandfather sold his farm in the seventies in east germany, i inherited as much money, good enough to buy a fancy house that time. later after the wall came down it was divided by half into deutschmark, and later on it was again divided by half by switching to euro. now it wouldn't have even enough value to buy a lousy 1 room flat. my grandfather himself lost all his money value twice in his life, due to weimar inflation and wwII.
I'm Russian. After collapse of S.Union, everybody's savings were gone. In 1998, again the Ruble, our currency, became worthless overnight. More recently, in December 2014 it lost half of its value again.
Haha, same here, man. The savings of my parents in the bank just dropped to nothing in 1998. The only thing that saved us that day was that we kept some sum in USD. I hope soon it'll be better to keep part of your "labor" in Cryptocurrencies (after they'll become more stable)...
Watch every Andreas video, eat, sleep, repeat:) The best of the best in terms of bringing understand-ability to masses.. I truly appreciate what you do sir.
Thank you +aantonop for exposing every time you have had the chance our sad truth in my country Venezuela and other economies suffering worse. You're opening eyes around the world.
God bless ya AA. I've been sharing your videos on Steemit with some notes about you for awhile now, since the sub. notices have been coming to my inbox. You are such a great speaker and TEACHER making things simple for all the Liberty/Crypto new people flocking to the Crypto space. I really appreciate you.
I think that you are doing much for a lot of people helping them to open their eyes. Keep on going because you are great and you are doing a really great job. Full support from Italy
6 лет назад
We should no longer look at the exchange rate of 1 BTC to the dollar. We should rather see how much BTC we still get for $ 1! This simply illustrates how the dollar price loses confidence! I admire Mr. Andreas M. Antonopoulos. Keep it up
Andreas has just explained why i stopped watching the news on TV over a year ago! Thankyou. I thought it was just me who thought the news was shallow and bear no resemblance to what was going on.
I love when he said in the end of one of his talks .."join me in this revolution" - where most of crypto videos out there is about speculation and greed, we have such a gift as Andreas to Educate, Inspire and Wake us up !
Real inflation is much higher than the government reports. They consider that inflation is the average increase of prices in a period of a year, let's call that number X%. But real inflation is much higher than X%, because if everybody were using a cryptocurrency that does not suffer from continuous monetary expansion by the government and central banks, we would have continuous price decrease with increasing productivity over time, in this case we would have a deflation of prices in the same period of a year of lets say Y %. Thus, real inflation is not only X%, but the sum of X and Y, (X + Y)%. We don't know how to estimate the size of Y, it is the hidden part, and it is certainly much bigger than X. This is a gigantic hidden form of taxation, and is affects mainly the poor people.
His example of demonetization in India is wrong. Currency was not devalued, just 500/1000 was taken out of circulation. We were all forced to deposit all the cash we had in 500/1000 bill to our bank accounts within 2 months. People were forced to use credit card, wire transfer and other digital payment methods until new bills in 500/2000 became available. The currency itself didn't lose any value.
Exactly... I don't think anyone lost faith in the currency and shifted to BitCoin.... But you can bet that most of the stinking rich guys would have exercised that option and shifted a lot of their stuff to bitcoin to avoid future action on their disproportionate assets. That could have pushed up the price of BitCoin locally.
Going to restaurant in Greece: impossible to pay with credit card, suddenly they only took cash. So the market tells us: currency in the banking system is worth much less than printed money.
Sorry Andreas, but i need to correct you on a metric you used at minute 22:05... the official exchange rate versus unofficial of the Bolivar is not 5 times less, it is 583 times less, yup, as crazy as it sounds.
Excellent monologue by Andreas again. The worst effects of demonetization of the 500 Rupee note were felt disproportionately by the poor and unorganised sector of Indian labor which accounts for 80 to 85% of the Indian economy. The number of people who queued up outside of ATMs for the next 3 to 4 weeks had to be seen to be believed.A few of our senior citizens died while waiting in long queues. Fiat currency is just that...Fiat that can be replaced by other fiat.
Thank you Andreas for your great insights. I sincerely hope that you can find the energy and motivation to keep up this important work for all of us. Greetings fromhere in the Netherlands.
Andreas, do you know about "Fofoa's Dilemma"? Looks like Bitcoin is taking a place in the monetary quadrangle over Gold BECAUSE it offers a savings space outside the system. So huge! Gold is still too entrenched in the manipulated fiat system.
Peter Schiff would debate that Bitcoin is a Fake Money.. We'll I hope he will find out about this so as maybe he'll think for himself. lol. Keep giving us great info and education Andreas!
Wei Dai’s “bmoney” paper (a precursor to and referenced by the Bitcoin white paper) speaks on a government being “permanently forbidden and permanently unnecessary” when a decentralized crypto currency is introduced and these are exactly the points Andreas gets at with his impression of a government news source in the latter part of this video. A massive institution whos services of “protection” through violence are becoming less and less necessary as power is returned to the individual. Obviously governments should be afraid... but need to concede their obsolescence.
If everyone in a country start using only bitcoin , will it eliminate inflation ? I mean inflation is a local phenomena. Its possible the cost of living in this country will be more expensive in 10 year so you can buy less with your hard earned money. Also globalization and unity does not seem to work perfectly when joining different economize just like happened with the EURO. I mean Germany is doing great but other smaller countries are not doing so well after embracing the EURO. I'm a programmer but did some basic economy courses and we were told that the main bank is using local currency manipulation such as devaluation to support the economy and government . The idea of one coin for all sounds romantic but what will happen to main banks and governments and the people that did not invest it will be chaos.. My guess is governments and banks will make sure bitcoin is never stabilized bringing it up and down so it will never stabilized and therefor will not be considered as reliable coin. Unlike traditional markets you can't tell who is making most of the buying and selling to tell if my guess is real. P.S I been living in Ukraine for the past year and seen first hand the result of a money value dropping by 70%
But there is one more doubt in regulation because until Anti money laundering comes into existence most of the people like to use this for dark web cases compare to normal and we are seeing daily every day hackers are demanding money in Bitcoins only Can you comment on this
