Here's Why You Can't Kill Bitcoin

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Күн бұрын

𝐆𝐄𝐓 𝐓𝐇𝐄 𝐁𝐈𝐓𝐂𝐎𝐈𝐍 𝐂𝐎𝐔𝐑𝐒𝐄➜➜➜
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In this video, I discuss why Bitcoin is extremely difficult to stop or kill.
This is because Bitcoin is so much more than just code. Bitcoin is a thought virus and a social consensus and a UTXO set.
You can fork Bitcoin, but you cannot clone the ecosystem surrounding it.
You can modify Bitcoin software, but you cannot force anyone to run the new version.
You can 51% attack or quantum attack Bitcoin, and the nodes will just route around you, or the protocol will be restarted with a new consensus algorithm or new quantum-resistant encryption using the original UTXO set.
People who try to change or attack Bitcoin usually just ending up playing donkey basketball in a corner of the room, while the Bitcoin network keeps chugging along.
Not investment advice! Consult a financial advisor.
Is Bitcoin Backed By Anything?
• Is Bitcoin Backed By A...
Bitcoin on Github:
github.com/bitcoin/bitcoin
UTXO set:
river.com/learn/terms/u/utxo-...
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#bitcoin
#crypto
#gold
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Пікірлер: 202

@Bitcoin_University Жыл бұрын

WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Trader University from the imposters.

@AndyHage Жыл бұрын

Hey, this comment just got removed: I have nothing to do with the "blocksize wars" of 2017, I just don't see any reason why you would handicap yourself by not keeping up with silicon improvements. 2008 is nothing like 2022. Not in the US, not in Haiti, not in Sri Lanka, not in Ukraine, it's probably cheaper to get a cheap efficient relatively recent device with more storage and memory than it is to keep running a node on your 2008 device. There is no reason to not keep up with minimum technological advancements. And every time I get reminded of the blocksize wars, I just ask myself. WHY, why can you think rationally on one subject and then at the same time preform these mental gymnastics to justify keeping blocksize "small enough" Blocksize has been shrinking since 2008 relatively speaking, because every part of computers got cheaper for humanity. From storage, to memory, to internet bandwidth, to efficiency. I don't see any reason why it shouldn't technologically keep up with at the very least poor countries, in war. Not even the average of all countries, but the poorest of the poor. That way along with a growing user base, you'd have much needed improved capacity in BTC, without growing the blocksize RELATIVELY SPEAKING. And for 99.999% of the world population it'd actually still feel as a shrinking blocksize because regular technological advancement goes countless of times quicker than the increase of blocksize. I want someone who is capable of rational thinking to explain why people switch to tribe thinking as soon as this subject is brought up.

@Bitcoin_University Жыл бұрын

@@AndyHage You need small block size to keep the overall blockchain small enough for everyone to download, sync, and most importantly verify-- i.e. go over ever transaction that has happened since 2009 to make sure that all transactions conform to consensus rules. Having large blocks is ultimately not that important. Bitcoin blockchain is a final settlement vehicle like FedWire. Buying a cup of coffee does not need the same final settlement guarantees as wiring/sending $50 million. You can use the Lightning Network for buying coffee. A layered or scaling approach to money makes the most engineering sense. Base layer needs to remain neutral and decentralized. You cannot do this if you need to pay a corporation to run your node for you, like happens in Ethereum where the full blockchain is 10 TB

@AndyHage Жыл бұрын

@@Bitcoin_University ETH's 10TB blockchain size is indeed way too much in 2022 and exceeds the rate at which hardware gets cheaper. But there exists something between those 2 extremes. In 2030 that 10TB of storage, which seems a lot by today's standards, might be sitting in our AR glasses, and in that day and age it would be silly to still have the same blocksize as in 2008, because technology improves, and gets cheaper, way faster than the inflation of the Bitcoin Blockchain. And there are benefits related to increasing Blockchain bandwidth, as long as everyone can keep up. I'd say you could easily get away with doubling the blocksize every decade and when you eventually end up replacing your old device, it would be considerably cheaper than your previous device and on top on that it'd run the node more energy efficient as well. Even if you happen to live in a 3rd world country. And in a technologically advanced country it might be the same as trying to buy a 512mb usb stick in 2022. It might actually be cheaper to get yourself a 32gb stick at your local store.

@supatotenkopf88 Жыл бұрын

I personally go after them with FRAUD alerts and trolling

@j4ta680 Жыл бұрын

I always thought an NDA was a non-disclosure agreement, but today I learned it's the National Donkeyball Association. Great stuff as always, Matt; thanks.

@Bitcoin_University Жыл бұрын

Great sport and great people.

@Au496 Жыл бұрын

Unfortunately I hear there is an outbreak of Donkeypox in the league. Stay safe everyone!

@Bitcoin_University Жыл бұрын

@@Au496 I stand with the donkeys.

@gentlydownthestream8101 Жыл бұрын

Donkeys? Did someone say donkeys?

@77Orel77 Жыл бұрын

Thank you for the video, you touched all the important point. This video answer of so much questions ! Appreciate it!

@subz0r69z0r Жыл бұрын

Hey Matt. Important to note that a quantum attack will primarily break the public-private EC-based encryption (e.g. gain access to Satoshi's coins) rather than SHA-256 (which doesn't involve factoring prime numbers). Would be great to see a well-educated in-depth video on this. Would be real interesting to go over some though experiments on what happens to Satoshi's wallet, even with a post-quantum Bitcoin hard fork. Love your work

@jakethemistakeRulez Жыл бұрын

I don't even think it's possible to break sha-256. The metaphor I've heard is...You can take a group of numbers and add them and know what their total is. But you can't reverse that process and take a total and figure out what numbers were used to get that total. Especially if it's a big number.

@subz0r69z0r Жыл бұрын

@@jakethemistakeRulez Correct you can't break or reverse SHA-256 (like we can with asymmetric cryptography through Shor's algorithm), but as far as I understand brute forcing can be sped up a bit using Grover's algorithm on quantum computers

@jakethemistakeRulez Жыл бұрын

@@subz0r69z0r They should put in some kind of quantum resistant encryption before it becomes a problem.

@Coach_SebastianEckes Жыл бұрын

Great video thank you 🙏

@willtomorrow4654 Жыл бұрын

Thank you Matt, I appreciate your hard work immensely.

@Bitcoin_University Жыл бұрын

Thank you. It is a labor of love.

@user-zo6ch5zo8d Жыл бұрын

Amazing video Matthew. Sorely needed. You should probably repost this once a month. Also, I don't even think the internet going down is a temporary risk to BTC due to satellite internet access now becoming a thing.

@davidfenererer8774 Жыл бұрын

Great videos as always

@davewmck Жыл бұрын

One of your best Mathew

@martinsmods4527 2 ай бұрын

I’m so glad to have stumbled upon your channel. It has not just educated me, but more importantly, installed total trust in Bitcoin. 🎉

@zeroxmagicSS Жыл бұрын

I get so fired up listening to your content. It just reaffirms everything I know and inspires me to keep going. Thank you so much Mr. Kratter!

@Hdilon 17 күн бұрын

thanks

@upup209 10 ай бұрын

Brilliantly written and directed

@ryszardmacko6306 Жыл бұрын

Great presentation, again, Matthew! It helped to answer many questions and alleviate a bunch of concerns we had until now. Cheers!

@Bitcoin_University Жыл бұрын

Great to hear!

@brandon_gentile Жыл бұрын

Great breakdown of the network Matt

@labitcoineragt3596 Жыл бұрын

I am very impressed with your explanation. Thank you for putting facts and well researched info out here.

@bricklawson9745 Жыл бұрын

Great video! Bitcoin is bad ass. Thanks

@btceatsfiat6641 Жыл бұрын

Beautiful work man, love it! You consistently produce top quality BTC content, deep down the rabbit hole and into the weeds of nuance. Thank you for your great work! Please keep 'em coming! Go Bitcoin baby!

@skipjack000 Жыл бұрын

Hi Matt, as a video topic, could you please opine on the impact the tether situation could have on Bitcoin in the short term? Thanks for considering. Really enjoy your informative and educational videos.

@denissego8554 Жыл бұрын

Tnx

@tuffn00gies Жыл бұрын

Damn good vid.

@stephaniukj 11 ай бұрын

This is one of your best videos, Matthew. Great material for countering peoples FUD when they learn about Bitcoin.

@Bitcoin_University 11 ай бұрын

Glad it was helpful!

@codywy5579 Жыл бұрын

After the big move up off the lows a pullback is normal and giving an excellent entry point.

@Atlas_21 Жыл бұрын

Another one to save on my playlist :)

@NA-lp2re Жыл бұрын

When there is a new version of btc software available how do you verify that it doesn’t make any unwanted changes?

@randyramsey9622 Жыл бұрын

Hey Matt, thank's for all you do to help educate us on the truth of Bitcoin and its usefulness, I really appreciate it. Can you do a video on the possibility of Quantum computing cracking the blockchain and gaining access to taking our Bitcoin? If this is a realistic possibility, how do we protect our investment in Bitcoin? Thanks for your help.

@user-zo6ch5zo8d Жыл бұрын

Watch the video; he addressed this in it

@leslieguinn6157 Жыл бұрын

We'll said. You can also use shortwave, tropospheric ducting and moon bounce with a home rig..😉

@miketan5384 Ай бұрын

Great video. In the case of a large scale Internet shutdown while Bitcoin operates within different localized networks, what will happens to the transactions that was dropped when Internet is back? For example, someone paid me bitcoin for my goods during the Internet shutdown (it will be a long time of wait initially due to massive loss of hashing power) but when Internet resumes my local network is NOT the longest chain. Will the bitcoin that I supposedly received be no longer mine in this scenario? Thank you!

@slop123456789 Жыл бұрын

So in a hypothetical Mad Max scenario in which the network partitioned into several smaller isolated networks, and several years went by before those networks were reconnected... What is the incentive for the members of a smaller network that has produced a shorter chain to "reunite" with a larger chain if they have to essentially annul every transaction that took place in their economy since the partition? I can't even begin to imagine the catastrophic results of such an event.

@phillipechavda3654 Жыл бұрын

Hi Matt, great video as always! I got 2 questions that maybe you could do a video on: Would it be possible to use a house for example as collateral to borrow bitcoin in a decentralized way? If so, what type of collateral would the crypto space not be able to handle? Can bitcoin be used to solve a solvency crisis, where someone doesn't have the net worth at the moment to make a payment? What would happen in a situation like this if there wasn't a banking system that person could rely on?

@jakethemistakeRulez Жыл бұрын

I believe if you go back he has some older videos on this subject. I'm not so interested in borrowing so I never watched them but I've seen the titles.

@fa6805 Жыл бұрын

Wow, the comments now are mostly legit. I used to skip the comments because 90% are bots and scammers. Now they lessen. It’s good to see proper discussions.

@Bitcoin_University Жыл бұрын

I spend a lot of time each day blocking scammers, so glad to hear that it is having an effect.

@BitcoinAndChess Жыл бұрын

LOL! Fiat money is donkey basketball. I love the analogy.

@davidfenererer8774 Жыл бұрын

Goat

@hattrickchu Жыл бұрын

the longest chain wins after network partition, then too unfair for the UTXO in local messnet?? any way to solve this??

@biswarupbhatacharjee6537 Жыл бұрын

Gov can ban mining. If they can ban mining by big entities hash rate will drastically come down. Would it be possible to mine btc at that time on laptops and desktops?

@rightpa Жыл бұрын

Gotta love a greatest hits video.

@fowchiiiliedpuppiesdied Жыл бұрын

Until the dystopian nightmare, I thought I was fairly intelligent, but since, I realize I might be a genius. Dang.

@jbrown6367 Жыл бұрын

Good money drives out bad money

@TunnelVisionAthletic Жыл бұрын

Any thoughts on the all the futures ETF's manipulating the price though? SEC seems to like them....

@fowchiiiliedpuppiesdied Жыл бұрын

As Bitcoin grows, this will not be an issue. At this point, it is new enough and small enough, to appear to be affected, but I believe this is more due to ignorance, in other words, a perception among the public and also some Bitcoin owners, that it is somehow linked to the markets, when it really isn’t, than anything tangible.

@stevenbonebrake Жыл бұрын

Matt, is there a good/easy/ideal way to run a little "lottery" miner? If all of your KZfaq subscribers and private course subscribers ran a small miner (in addition to their own node) we would not only contribute to securing the network but also have a tiny chance of earning a block reward.

@user-zo6ch5zo8d Жыл бұрын

would love to know this too

@kithkin01 Жыл бұрын

Are we really gonna just pretend that donkey basket ball isn't VASTLY SUPERIOR

@mstu5624 Жыл бұрын

Good video. One of my concerns are how derivatives can manipulate Bitcoin in the same way they manipulate the gold price. I'm sure you noticed no spot ETFs (in the US) are approved for Bitcoin, but short BTC ETFs, BTC futures and options are approved. Very transparent move by government. Any thoughts?

@jaydinerodst471 Жыл бұрын

Unfortunately, you are right. Short term price can be manipulated somewhat by all these markets on top of the network. However, here is the good news. None of these markets can do a thing about the bitcoin halving or btc’s scarce supply. The price floor is literally programmed to keep rising until the last bitcoin is mined and if you’ve done your research you know how long that’s going to be. Play the long game.

@gamingking1 Жыл бұрын

Thanks for the great thought experiment. I was wondering if it was really possible to snapshot the UTXO set or undo a block, in case there was an existential threat to bitcoin. Like, what if someone found a new bug to print a billion bitcoin? If we can back up the blockchain and fix the bug, then we can save the network.

@Au496 Жыл бұрын

This is the beauty of Open Source Software, there are always white hat actors who will look at the code and propose BIPs to improve the protocol if needed, then there is a large consensus model for that proposal to even be considered (why BTC improvements take a long time, which is a good thing btw). Also, there are also black hat actors who want to exploit the code - now we get into incentives. White hats are in it because of the ideal, they have deep integrity, low time preference (patient), they do it because not for money or fame. Black hats however are in it for incentives that are at the base layer corrupt (think the 7 deadly sins).

@ghqst7550 Жыл бұрын

I have a question Mr. Matt... Doesn't each Bitcoin Node need to have like 200 GB of storage 🤔 And if so; won't the nodes need larger capacity over time as the chain grows? How's that work?

@cosmiclounge Жыл бұрын

The block size is capped for precisely this reason. What scenario do you envisage where bitcoin's linear growth somehow starts to outstrip the exponentially increasing storage-capacity of modern smartphones?

@freedm2993 Жыл бұрын

Donkey basketball.....hahahaha!!!!!!!.....Excellent!!!!!!

@datvuong7420 4 ай бұрын

what if people using bitcoin agree to that new smaller division, like 1 satoshi = 1000 naka(s) and we use naka for everyday payments. Does this dilute bitcoin?

@Bitcoin_University 4 ай бұрын

No, it doesn't. It's like saying that cutting a pizza into smaller slices creates more pizza. It doesn't. Otherwise we could solve world hunger with one pizza

@marty590 Жыл бұрын

Hi Matt...limiting the size of the blocks requires that there be more of them. There are now 700k blocks. At what point will the number of blocks overwhelm small guys running node?

@gamingking1 Жыл бұрын

I dont know for sure, but I wonder if we could compress the blockchain and restart it. Essentially just taking a snapshot of the UTXO set, discarding the old blockchain, and starting a new one using the snapshot as the initial conditions.

@Bitcoin_University Жыл бұрын

Number of blocks doesn't matter. What matters is total size of blockchain. Currently 477 Gigabytes. Maintaining block time of 10 minutes is also important so that nodes can keep up with each other.

@personaltrainersg Жыл бұрын

Right now it fits on a small hard disk easily. So it can keep growing... just slower than advances in storage price and technology... And currently that tech is getting cheaper and larger faster than the size of BTC records of all block's since the start.

@AndyHage Жыл бұрын

@@Bitcoin_University hey, can you please explain why blocksize can't even keep up with the poorest of poor countries technological advancements? I just don't see any reason why btc would handicap itself by not keeping up with minimum silicon improvements. 2008 is nothing like 2022. Not in the US, not in Haiti, not in Sri Lanka, not in Ukraine, it's probably cheaper to get a cheap efficient relatively recent device with more storage and memory than it is to keep running a node on your 2008 device. There is no reason to not keep up with minimum technological afvancemenst. And every time I get reminded of the blocksize wars, I just ask myself. WHY, why can you think rationally on one subject and then at the same time preform these mental gymnastics to justify keeping blocksize "small enough" Blocksize has been shrinking since 2008 relatively speaking, because every part of computers got cheaper for humanity. From storage, to memory, to internet bandwidth, to efficiency. I don't see any reason why it shouldn't technologically keep up with at the very least poor countries in war. Not even the average of all countries, but the poorest of the poor. That way along with a growing user base, you'd have more capacity in BTC, without growing the blocksize RELATIVELY SPEAKING. And for 99.999 of the world population it'd actually still feel as a shrinking blocksize because regular technological advancement goes countless of times quicker than the increase of blocksize. I want someone who is capable of rational thinking to explain why people switch to tribe thinking as soon as this subject is brought up.

@Bitcoin_University Жыл бұрын

@metatron8752 Жыл бұрын

Obummer was the #1 Draft pick for Donkey Basketball

@Cbeaucoup Жыл бұрын

Code is freedom of speech 🎤

@Bitcoin_University Жыл бұрын

Yes, and protected as such under the First Amendment in the US.

@philfortner1805 Жыл бұрын

Thanks to Phil Zimmerman and his revolutionary PGP encryption fight that established code is free speech. The government had restricted encryption to 40 symmetric bits which was because they could crack it. PGP was free and 128 bit and unbreakable, it's forever unbreakable. The funny part is that without PGP breaking the weak encryption standard there would be no internet. No secure payments, no secure transmission, no internet. Bitcoin is where the internet was in 1995, very very early!

@jamesjhonson5638 Жыл бұрын

Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.

@-ANDY. Жыл бұрын

1. overflow bitcoin base layer with transactions, create an environment where only the ultra rich can afford the fees to interact with the base layer. 2. force people to stay on the lightning network where fees are still alright. 3. don't allow people to pay taxes through the lightning network. you'd have a net capital outflow since the population has to pay taxes. any 3rd party that that serves as middle man without having to interact with the base layer is bound to dry up, since inflow and outflow aren't in balance. bitcoin is successfully "killed" as in it's not a threat to fiat anymore. You can force those 3rd parties to have aggressive KYC and only deal with green bitcoin or whatever.

@fowchiiiliedpuppiesdied Жыл бұрын

I don’t think you get it, but you don’t seem to want to, so that’s cool. Okay then.

@-ANDY. Жыл бұрын

@@fowchiiiliedpuppiesdied I'm afraid that I do get it, and I wish it weren't the case.

@-ANDY. Жыл бұрын

@@fowchiiiliedpuppiesdied the base layer is necessary to independently switch around from one layer 2 to another. If it becomes too expensive to use the base layer, you lose freedom of movement. You become that fish in the barrel. Easily dealt with, just like nowadays in the fiat system.

@gaspardcarissimo8773 Жыл бұрын

Could you sensor Bitcoin without shutting down internet? Could you just filter all datas around bitcoin and let other data through?

@Bitcoin_University Жыл бұрын

I don't think that's possible, especially if lots of people are using Tor.

@volodymyrmoisiuk5614 Жыл бұрын

I think in a future Bitcoin may increase block size if it will be needed. What do you think?

@simonf7367 Жыл бұрын

Matthew!! Please please review Nexo!! They are saying they have a live auditor in real time now. Is it true?

@Bitcoin_University Жыл бұрын

I wouldn't trust them. The whole point of Bitcoin is not to have to trust corporations or auditors. Learn to hold your own private keys: kzfaq.info/get/bejne/qLp5n5qFsKvTp5s.html&ab_channel=TraderUniversity kzfaq.info/get/bejne/m5hno6ZezLuoeZc.html&ab_channel=TraderUniversity

@Au496 Жыл бұрын

Never trust what the company PR machine says. If you can’t truly verify information yourself, stay away.

@simonf7367 Жыл бұрын

@@Bitcoin_University thank you. I do! And I keep most my worth on ledger. But I keep my cash there. I just thought it was an interesting feature and wondering if it actually functioned. If you could see in real time levels of collateral. Thanks for the response. LOVE the content. My favourite channel. 👌✌️

@BTC-2024 Жыл бұрын

Why not add in quantum-resistant encryption now? Especially if we think that BTC will appreciate significantly in the future.

@Kittensarevicious Жыл бұрын

My only concern with BTC is United States government regulation. I won’t ever leave the USA so all I can do is hope that our government doesn’t heavily regulate/ban it.

@Bitcoin_University Жыл бұрын

US gov banned both marijuana and gold, and yet lots of people continued to use them. At some point (maybe even now), so many Americans will own Bitcoin that it will become politically untenable to ban.

@johnhorter1859 Жыл бұрын

I think the U.S. has whatever regulations it wants as far as BTC is concerned, but regulations of BTC ownership could get stringent. My greatest fear, barring autocratic takeover of the government, is requirements that investors buy permits or acquire official accreditation status in order to trade crypto. Fear whatever could keep the lower classes from gaining from the system, as the U.S. regulatory decisions protect the upper classes.

@Au496 Жыл бұрын

Yes it *is* a concern. However there are many in the Bitcoin community who are actively participating in this space - financial regulation, mining/energy, trade, securities/commodity law, etc. Saylor is a good advocate for making Bitcoin a lot more entrenched in the regulatory space. We are also seeing quite a shift in politics recently, more and more political cats are raising the siren song of cRyPtO and Bitcoin. It’s like if their platform does not include them, the younger generation don’t pay them any attention. Only the boomers at this point couldn’t care less about cRyPt0 and Bitcoin.

@MalcadorTheSigilite Жыл бұрын

Didn't they try to ban alcohol once a upon a time?

@user-zo6ch5zo8d Жыл бұрын

@@MalcadorTheSigilite yes; prohibition. Didn't last, and didn't stop people from peer-to-peer selling/buying

@quovadis5575 Жыл бұрын

👍

@user-zl1yn6ys1c Жыл бұрын

Just wait until the DBA flips the NBA 🚀 🚀

@chase27 Жыл бұрын

Best comment so far

@user-zl1yn6ys1c Жыл бұрын

@@chase27 🙌🏻🙏🏻

@EmilGhiurau Жыл бұрын

?? What’s that?

@user-zl1yn6ys1c Жыл бұрын

@@EmilGhiurau the next big thing

@musashi4856 Жыл бұрын

A consensus cannot be destroyed by canon balls. ~ Napoleon

@feuderali1234 Жыл бұрын

Seems like every time you post a video BTC rallies a bit. How about you post some FUD for a change, I want to load up a bit!

@paulhofmann3798 Жыл бұрын

When you have managed a 51% attack you could double and triple spent your BTC since you have 51% of the compute power the blocks you generate would replace the blocks from the rest, the largest block wins. Therefore they others would not figure out that you are cheating. BTW, a malicious attack could be successful above 24% of compute power when certain conditions are met. Having 51% guarantees brute force success.

@davidfenererer8774 Жыл бұрын

Algorithm

@azdjedi Жыл бұрын

12:30 Why would shutting off the internet effect water and society in any meaningful way?

@GalaxiePictures Жыл бұрын

If the internet goes down, blockstream transmits the existing blockchain from a satellite … all you need is a $500 satellite dish

@stonecutter74 Жыл бұрын

I leverage trade Btc eth theta . All profits taken off the table put into gold. I hold 0 coins never will

@mmc577 Жыл бұрын

Could you make a video of why you could in theory kill say cardano? Or maybe you don't believe this?

@westkraig Жыл бұрын

Scarcity, small blockchain is decentralized, and social conscensus.

@PURPLE_SHADE_SMOOTHIE Жыл бұрын

My theory: Satoshi Nakamoto is a rogue quantum AI from the benevolent rebel faction that resisted Skynet's TPS Report Mandate circa 2140

@Moiatmoi7 Жыл бұрын

There is always satellite internet. One of the tech billionaires will probably shoot up a couple satellites into the orbit or fly internet balloons to make sure the btc network will be protected and continuously run.

@Bitcoin_University Жыл бұрын

Even Elon would turn off Starlink if enough pressure was put on him by governments.

@Moiatmoi7 Жыл бұрын

@@Bitcoin_University for Elon? Yes since he’s getting all the govt subsidies and profiting off govt forcing down green energy on citizens.

@Josh-py9rq Жыл бұрын

😱🔥🔥🙌💪

@ghqst7550 Жыл бұрын

There will never be a "better" #Bitcoin

@fanuccio2058 Жыл бұрын

Hi Matt. What if more and more Countries would ban bitcoin transactions making them criminally punishable?

@stephaniukj 11 ай бұрын

Bitcoin is peer to peer, so to outright ban it for a govt would be hard. They would need to sniff everything on the internet. Sure, maybe they can and already do, but it's not feasible or sustainable. It's like Matthew's North Korea example. If a govt starts to limit freedoms, the society suffers.

@datogadelia Жыл бұрын

what if govs announce that mining is forbidden

@morningcoffeepottery5416 Жыл бұрын

How will the current disastrous housing collapse in China affect BTC in the short term?

@Bitcoin_University Жыл бұрын

It probably won't, now that the Fed has pivoted and the easy money times are coming back.

@50Kinyourbackyard 29 күн бұрын

😅

@philfortner1805 Жыл бұрын

Fiat currency is failing as expected under it's own weight. The world will find the Bitcoin standard because there is no alternative. Certain more restrictive governments will try other money schemes but game theory will quickly force them all to Bitcoin because it will be a huge competitive advantage. Everyone in Bitcoin finds it at the price they deserve.

@mytempemailmte8128 Жыл бұрын

That's because "it's DEAD already" and you can't kill something twice!

@beefyogurt Жыл бұрын

🗿

@johnk2452 Жыл бұрын

I have not yet listened to the full video --- will do that after I complete this comment --- but, what will kill BTC is when EVENTUALLY, the great majority of HODLERS LOSE --- misplace, erase, etc --- their private keys. So far, ALREADY, there are a substantial number of BTCs that may be lost. Hmmm ... EVENTUALLY, years from now, or, even many decades from now, many others will also have lost their private keys. Will there be a tipping point? Or, do the LAST BTCs, for which the private keys remain known and useable, approach infinite value?

@smorgan125 Жыл бұрын

We. Are. Still. Early. HODL

@patrickready7862 Жыл бұрын

I appreciate the content as always Matt. Just curious though... the objection that the government will force us to use their CBDC and ban BTC for payments often comes up. Doesn't BTC undermine their ability to cram their agenda down our throat? So why would they allow a BTC payment network to flourish? And how realistic is it to exchange a lawn mower for BTC, as far as the scalability is concerned it seems a bit daunting. I like BTC, but am worried that the government's crackdown on it as a payment mechanism will make it difficult to use as money. Or what if they tax your gains from it to the point it's not worth it. Half of these scumbags in office are dirty commies.

@DarceVader Жыл бұрын

Fair point. When big brother gets “mad” he just kills you and confiscates your keys.

@Au496 Жыл бұрын

Matt has some videos on this but you’ll have to dig a little bit. I do think we can see this play out in some countries now like China, look at what the citizens are doing. Go back in time, EO 1602, a lot of US citizens still traded in Gold albeit more privately or just lost they keys to their buried chest in a boating accident 😃 folks in office don’t last, eventually they will be replaced, and eventually a good idea will always win. Have some BTC, and just hodl it.

@Bitcoin_University Жыл бұрын

Yes, but big brother cannot kill or imprison 100 million people.

@Bitcoin_University Жыл бұрын

You can ban Bitcoin for payments, but you cannot enforce it. Gov cannot stop peer to peer transactions using Bitcoin.

@davisboyd6644 Жыл бұрын

The same game theory plays out with the internet. Countries could have chosen to ban the internet, but in doing so you’d end up like North Korea. Banning world changing technologies may help your agenda in the short term, but given enough time, humans will always find a way to circumvent these restrictions, and will always fight for freedom. I think the powers that be see this (China not so much).

@ArnoldSommerfeld Жыл бұрын

Sorry to be a wet blanket...however, in order to develop a truly secure and sound technology, reality must always take precedent over hopium, as hackers cannot be so easily fooled. BTC could, in theory, be maimed, though probably not killed, if a hacker discovered another BTC inflation bug (I believe there have been at least two so far that we know about), and if said discoverer actually exploited it to mint extra BTC.

@Bitcoin_University Жыл бұрын

Inflation bugs never killed BTC in the past and never will in the future. Network will just go with whichever version still has the 21 million cap.

@gamingking1 Жыл бұрын

Couldn't we just roll back the blockchain if something like that happened? And it's not like the extra bitcoin wouldn't be noticed immediately.

@ArnoldSommerfeld Жыл бұрын

@@Bitcoin_University Zero day exploit... Hacker could generate and dump BTC in a day zero attack for a tidy sum. Of course the network can be fixed afterwards, but the confidence in BTC is not as easy to fix.

@ArnoldSommerfeld Жыл бұрын

@@gamingking1 If you (and others) just bought some inflated BTC...it means you spent fiat. If it gets rolled back, you don't get your fiat back.

@gamingking1 Жыл бұрын

@@ArnoldSommerfeld of course there would be people who suffer for it but thats better than destroying the best monetary system we have.

@MalcadorTheSigilite Жыл бұрын

Hey Mathew I was wondering if you'd be interested in comparing Bitcoin to a religion. Aspects that are similar and different etc. For instance immaculate conception and Satoshi being somewhat of a messianic figure. Could be a fun and interesting video for you to do.

@Au496 Жыл бұрын

It’s more akin to a philosophy. There are the tangible aspects of Bitcoin which people can easily grasp such as NGU tech, Code, Miners, Nodes, Memes, Regulation, etc. Then there are the intangibles which requires a higher (or deeper) level understanding. Religion (I’m assuming you meant organized religion) *may* have some parts but it’s a lot more intangibles and there is a higher being that transcends humans. If even Bitcoiners place Satoshi on the same level as a diety, that is when you know their thinking has been corrupted. Just look at the alt-coiners … notice how many look at the founders/CEOs as modern day gods?

@davidfenererer8774 Жыл бұрын

Comments

@darrellnielsen6303 Жыл бұрын

What's donkey basketball?

@Bitcoin_University Жыл бұрын

It's a variant of regular basketball that's probably played by about 100 people worldwide. When people play and promote it, they are not hurting the NBA.

@patrickclifford4413 10 ай бұрын

You know how the NSA can guess 100,000,000,000 per second? Could they guess for BTC private keys?

@Bitcoin_University 10 ай бұрын

No. It would be like guessing a single atom in the universe.

@shaambhavshankar8782 6 ай бұрын

you didn't address the biggest threat. What if satoshi decides to reactivate his wallet and dumps all his coins

@Bitcoin_University 6 ай бұрын

It's not a threat. The market can easily absorb 5% of the supply these days

@thecars570 Жыл бұрын

Btc is very traceable if made illegal

@beefyogurt Жыл бұрын

p2p

@ROBBINMASTER Жыл бұрын

bitcoin miners would rather increase supply so they keep up the mining game , they dump BTC for electricity anyway

@Bitcoin_University Жыл бұрын

Miners cannot change the amount of Bitcoin that they earn with each block. That is hard-coded and gets cut in half every 4 years.

@jmg567 9 ай бұрын

I wonder how many BlackRock analysts watched Matt’s video when researching Bitcoin for the ETF?

@mariaeddessacalipco5713 6 ай бұрын

Yea you can't kill BTC but it has no Use case! It can't interoperate with 2nd gen and 3rd gen blockchain. Its just a over price digital vault thats all it is.

@a7037 Жыл бұрын

Why do you only make bitcoin videos now? Your channel used to be good :(

@Bitcoin_University Жыл бұрын

I try to cover the most important things that are happening in finance and economics today. Bitcoin is the most important development in many, many decades. It is hard to overstate its importance.