Bitcoin Q&A: Medium of trade, unit of account, and reserve foreign money

How do you identify the worth of a wage in bitcoin? Does bitcoin work higher as a medium of trade or unit of account? Is bitcoin a reserve foreign money for different cryptocurrencies, as gold was for fiat?

These questions are from the August and September month-to-month subscriber periods, which came about on August 24th and September 27th 2019, respectively.

Measuring Success: Price or Principle –
Beyond Price: Bitcoin’s Impact on the Future –
Consensus Algorithms, Blockchain Technology, and Bitcoin –
Advanced Bitcoin Scripting Part 1: Transactions and Multisig –
Advanced Bitcoin Scripting Part 2: SegWit, Consensus, and Trustware –
What is Consensus: Rules with out Rulers –
Forkology: A Study of Forks for Newbies –
Bitcoin: Where the Laws of Mathematics Prevail –
Software distribution safety –
What is mining? –
The mining course of –
Nonces, mining, and quantum computing –
Iterating nonces and the block reward –
Miners, swimming pools, and consensus –
Mining, power costs, and charge market –
What is issue focusing on? –
Genesis block and coinbase transactions –
Cryptographic primitives –
The guidelines of Bitcoin (half 1) –
The guidelines of Bitcoin (half 2) –
Rules versus rulers –
The worth of proof-of-work –
Could a state-sponsored 51% assault work? –
Honest nodes and consensus –
Spam transactions and Child Pays For Parent (CPFP) –
Is Bitcoin a democracy? –
Governments versus Proof-of-Work or Proof-of-Stake –
Decentralized energy, leaderless governance –
What is the function of nodes? –
Why working a node is vital –
Spam transactions and Child Pays For Parent (CPFP) –
Energy consumption –
Solar power and mining in area –
Bitmain and ASICBoost allegations –
Binance hack, chain rollback? –
Block reward, reorg safety, and immutability –

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has grow to be one of the well-known and revered figures in Bitcoin. He is the creator of “Mastering Bitcoin,” “The Internet of Money” series, and “Mastering Ethereum.”

Follow on Twitter: @aantonop

Subscribe to the channel to be taught extra about Bitcoin & open blockchains; click on on the crimson bell to allow notifications about new movies!


Translations of MASTERING BITCOIN:


Translations of THE INTERNET OF MONEY:
Spanish, ‘Internet del Dinero’ (v1) –
German, ‘Das Internet des Geldes’ (v1) –
German, ‘Das Internet des Geldes’ (v2) –
French, ‘L’internet de l’argent’ (v1) –
Russian, ‘???????? ?????’ (v1) –
Vietnamese, ‘Internet C?a Ti?n T?’ (v1) –


Music: “Unbounded” by Orfan (
Outro Graphics: Phneep (
Outro Art: Rock Barcellos (

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  1. people really try to figure out what certain DLTs are good for. Even Bitcoins narrative changes over time. There is something called Internet or Bitcoin which has some unique hard properties and this stimulates the creativity, there will be trial and error (hopefully). Your explanation is exactly why I think modelling the value is BS. Sure bitcoin is script but in combination with multi purpose DLTs and the ever evolving digitization of the industry and human life it could be everything. It could back an IoT token-economy. It could be an insurance instrument for the hedge and insurance industry, it could be a notary-system it could be everything and every where.

  2. Who is getting rich in the “Markets?” Very few! Why is that? Because most have no idea how to navigate the “Markets” successfully, right? Who benefits from a Crypto-currency that is traded on an “Exchange?” The people that own the “Exchange” is the correct answer! Most of the “Traders” lose their money on the “Exchange!”

  3. Hello recently I watch london conference where was faketoshi and over and over again he mention. That we see end of bitcoin by 2020. That gov.will go after miner etc. My question is. Can gov.seize and stop bitcoin and botcoin network.? I mean globally. I think that they have to do it at once all together agree that they will hunt miners but there is almost 0% chance that this happen. I just wanna see your point of view. Thank you.

  4. Thanks for the video! FYI… Peter Thiel is backing a venture to build a renewable bitcoin mining farm in Texas using wind power. That should help off-set pollution & power consumption in the US and a larger share of the hash rate.

  5. Andreas, Craig Wright has now on several occasions claimed that BTC will be seized by governments in 2020, saying that only a few nodes in the U.S, Russia, and China need to be targeted, and the whole process will be quite simple. Do you have any insight into whether there is any substance to these claims?

  6. Andreas, really important question:

    What are your thoughts on Chainlink and other smart contract tokens like (I think) EDUcare is? I’ve seen both vastly outperform the crypto market and Bitcoin.

    If you could talk about Chainlink and whether or not it’s a good coin to hold in a portfolio, it would be greatly appreciated.

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