Do you think it is a problem that Bitcoin private keys can be destroyed, in terms of a store-of-value? Should we re-distribute bitcoin which hasn't moved for a long period of time? Should we do something about lost coins? Is there potential for centralization through concentration of ownership of bitcoin? Has there ever been a deflationary experiment? Wouldn't people stop spending altogether?
Chapters
0:00 Do you think there is a problem with bitcoin being used as a currency or store-of-value when it can be easily destroyed by losing the private keys?
4:23 Would it be good idea to make a rule that bitcoin which hasn't moved in fifty to a hundred years is redistributed?
7:52 Many people assume that some coins are lost forever. But nobody really knows. The keys could still exist. If Satoshi holds more than 2% of the maximum supply, is there a danger from centralization of power through bitcoin ownership in unknown hands?
9:47 Has there ever been a deflationary currency experiment before? Do we need inflation? Why would you buy anything if you would increase your purchasing power by holding? We need inflation. How do we create that within Bitcoin?
These questions are from the fourth and fifth sessions of MOOC 11, which took place on February 22nd and March 1st 2019 respectively. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron:
https://www.patreon.com/aantonopRELATED:
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https://youtu.be/tqL0ehMRxbkDivisibility and deflationary monetary policy -
https://youtu.be/xhLgxX_wU6EInflation and debt systems -
https://youtu.be/6CwxHiKf27AHow to get people to care about security -
https://youtu.be/Ji1lS9NMz1EHonest nodes and consensus -
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https://youtu.be/oX0Yrv-6jVsWallets, nodes, and monetary sovereignty -
https://youtu.be/8Hb3tUn8s4EAndreas 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
https://twitter.com/aantonopWebsite:
https://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.
Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos!
MASTERING BITCOIN, 2nd Edition:
https://amzn.to/2xcdsY9Translations of MASTERING BITCOIN:
https://bitcoinbook.info/translations-of-mastering-bitcoin/THE INTERNET OF MONEY, v1:
https://amzn.to/2ykmXFsTHE INTERNET OF MONEY, v2:
https://amzn.to/2IIG5BJTranslations of THE INTERNET OF MONEY:
Spanish, 'Internet del Dinero' (v1) -
https://amzn.to/2yoaTTqFrench, 'L'internet de l'argent' (v1) -
https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390Russian, 'Интернет денег' (v1) -
https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-denegVietnamese, 'Internet Của Tiền Tệ' (v1) -
https://alphabooks.vn/khi-tien-len-mangMASTERING ETHEREUM (Q4):
https://amzn.to/2xdxmlKMusic: "Unbounded" by Orfan (
https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (
http://www.phneep.com/)
Outro Art: Rock Barcellos (
http://www.rockincomics.com.br/)
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