In the early days of Bitcoin, a few idealistic individuals attempted to live entirely on the bitcoin currency. Nine years and an abundance of technological developments later, is an entirely closed-loop bitcoin economy possible, or even useful? Join hosts Jonathan Mohan, Stephanie Murphy and Andreas M. Antonopoulos as they reflect on bitcoin’s evolution as a currency and commodity. In the early days, an era of retail adoption as merchants began to accept bitcoin from their customers seemed to point to a bright future for daily bitcoin use. The 2013 IRS addendum treating bitcoin as a commodity, rather than as a foreign currency, quickly made transactions a burden with onerous tax reporting requirements, dimming that retail bitcoin future. In the time since, the crypto community has adopted a HODL mindset. Why spend bitcoin if it’s disinflationary in nature and will bring you more value in the future? Those idealistic individuals' dreams of bitcoin as a daily currency may no longer align with bitcoin's maturation. Developments in layer 2 technology, like the Lightning Network, have allowed experiments in bitcoin as legal tender to be not only a possibility, but a pragmatic choice for governments like El Salvador’s. With news of Ukraine considering following in El Salvador’s footsteps, will clusters of closed-loop bitcoin life bloom around the world? Do you have any questions or comments? Send us an email at adam@speakingofbitcoin.show Today's show featured Andreas M. Antonopoulos, Stephanie Murphy and Jonathan Mohan. This episode was edited by Jonas, with music by Jared Rubens and Gurty Beats. Our album art is based off a photo by Ishan_@seefromthesky on Unsplash, modified by Speaking of Bitcoin ... https://www.youtube.com/watch?v=WGQPNJaiXpA

There has been a lot of misunderstanding when it comes to multisig. When it's a good idea to use and when it's not. Like any tool, in the right hands it becomes an excellent way to achieve your goals; in the wrong hands, using it can lead to disaster. In this video, Andreas clarifies when it's a good idea, and a not so good idea, for you to use multisig as part of your bitcoin and cryptoasset security system. If you're watching this video, you might also be interested in the Path to Self Custody workshop bundle which includes a hands-on demonstration of how to set up, test, use, and restore a hardware wallet. Andreas' workshops come with a 14 day money back guarantee, so you can try it without risk -- this might just be the LEAST risky thing in bitcoin! See the full course content: https://aantonop.com/workshops COMMENT below and let us know what you think of the video. Post your follow-up questions there too! SUBSCRIBE to this YouTube channel and select the bell ? for notifications: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ?sub_confirmation=1 JOIN this YouTube channel to become a YouTube Community Member and access custom emoji and other perks: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ/join BECOME a Community Builder: https://patreon.com/aantonop LEARN from Andreas in one of his popular Workshops which will teach you practical crypto skills. There’s even a FREE Intro to Bitcoin & Open Blockchains to get you started. https://aantonop.io/takeaworkshop You can also learn from one of aantonop's many books. Andreas has written three technical books for developers about blockchain technology, Mastering Bitcoin, Mastering Ethereum, and Mastering the Lightning Network published by O’Reilly Media. He’s also written The Internet of Money Series books, which explain why bitcoin, ethereum, and open blockchains matter. About aantonop: Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved. Learn more at https://aantonop.com From Andreas: You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Watching these videos and sharing them with others is a big part of that. Thank you for being part of this mission. ***Learn More From Andreas’ Workshops, Books & Events** Amazon & Kindle: http://www.amazon.com/-/e/B00MVAG8Z8 Audible: https://www.audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8 E-books & Merch: https://aantonop.io/shop Patreon: https://patreon.com/aantonop Website: https://aantonop.com Workshops: https://aantonop.com/workshops ***Connect with Andreas on Socials*** Facebook: https://www.facebook.com/AndreasMAntonopoulos Instagram: https://www.instagram.com/amantonop/ LinkedIn: https://www.linkedin.com/company/aantonop/ Twitter: https://twitter.com/aantonop Thanks for watching, sharing, and subscribing! ... https://www.youtube.com/watch?v=ePx5lBSI0es

Welcome to the premiere! It begins at 9am PST / 12 noon EST / 5pm GMT, etc. In this talk, Andreas takes note of the difference in perspective between those in the northern vs. southern hemispheres regarding the current state of Bitcoin and the broader cryptocurrency market. Then he addresses the question about what success looks like, and how the road to monopolies and regulatory capture is based on the assumption of a zero-sum game. In contrast, for a real free market and an open creative commons, principles are the most valuable differentiator. NOTE: At 11:36, I mentioned "maximalism." The beliefs and values associated with being a "maximalist" are varied and not necessarily equal or compatible with those of the rent-seeking business attitude I was describing in that portion of the talk. If you are unfamiliar with the concept, I talked more about it with Stephen Livera here: https://stephanlivera.com/episode/53 This talk took place on January 29th 2019 as part of a community event at Paseo la Plaza in Buenos Aires, Argentina: https://antonopoulos.com/event/buenos-aires-event/ RELATED: LABitConf Fireside Chat: Becoming a Bitcoin Educator - https://youtu.be/0CLJdfMgKhI Measuring Success: Price or Principle - https://youtu.be/mPMsbgWl9p4 Escaping the Global Banking Cartel - https://youtu.be/LgI0liAee4s Black Markets, White Markets: A False Market - https://youtu.be/ffmu6t7PtO0 Worse Than Useless: Financial Surveillance - https://youtu.be/n4F-h4xuXMk Money as a System-of-Control - https://youtu.be/FyK4P7ZdOK8 The Stories We Tell About Money - https://youtu.be/ONvg9SbauMg Bitcoin's Origins and the Genesis Blockade - https://youtu.be/cagoyF3WePo Why Open Blockchains Matter - https://youtu.be/uZPIz3ArQww Decentralised Globalisation - https://youtu.be/QoiR4aNbTOw Investing in Education instead of Speculation - https://youtu.be/6uXAbJQoZlE Security vs. Complexity - https://youtu.be/M82t5wZG3fc Beyond Price: Bitcoin's Impact on the Future - https://youtu.be/rvwVbRQ5Ysc Why I'm against ETFs - https://youtu.be/KSv0J4bfBCc Regulation and the bank boycott - https://youtu.be/8ypH69Cb1l0 Mass adoption and peer-to-peer commerce - https://youtu.be/n9qIAEFS-Qs Scaling strategies and adoption - https://youtu.be/dML1a_Ek9Kw Price volatility and store of value - https://youtu.be/wzzZT95ijTo Why I earn bitcoin instead of buying - https://youtu.be/Ci7TyD8jETY Job opportunities with cryptocurrencies - https://youtu.be/89_p4pDlQtI Inspiring cryptocurrency projects - https://youtu.be/WW8norCKUbE Crossing the chasm of theoretical vs. real need - https://youtu.be/yIR0OBEAaUE Remittances and smuggling in Venezuela - https://youtu.be/RRXecXfWARw How long until mainstream adoption? - https://youtu.be/y3cKBDBabtA How to avoid re-creating systems of control - https://youtu.be/ ... https://www.youtube.com/watch?v=8wqAw9onTrM

We all know that banks are very powerful and they're not going down very easily. What will happen to banks in the next 5-10 years? Are they going to fight disruption? The caricature of banks as being entirely filled with "evil people" is not true. The banking industry has institutional inertia, where even if tens of thousands of people in are good, minute everyday actions sum up to an empire which engages in racial profiling, illegal foreclosures, and robbery through socialised losses. During organizational crisis, they are very slow to respond; the very architecture of that business model and culture is embedded so deeply. They will be affected by cryptocurrency just as the media industry was affected by the internet. Bankers ask me if they should get a "blockchain consultant." I say, "No, get a former newspaper editor and ask them 1) when did you know the internet would eat your business 2) what did you do to prevent it 3) now that you've failed, what would you do differently?" Because software is coming to eat our industry for the first time. The banks will still be here, they'll just be very different and offer services that have to be there (ex. fractional reserve lending). Customer service / interpersonal relationship management is considered a lost business right now because it's less profitable than underwriting a loan for a war dictator. Maybe they can reform their operations. There is no "right to maintain a business" or "right to guarantee a profit." If banks are terrified of competition in a free market, then something seriously wrong has happened to banking. If your last resort is a government decree that will prevent competition, you've already lost. Banks will be fine - as long as their business model is in building productive relationships that serve the community and not vampire-squid financing of war dealers and dictators (if that's you, good riddance). What's going to happen to the dinosaurs? They're still here; I had one of their eggs for breakfast. Chickens are the closest descendant of those once mighty beasts, and we are the descendants of the furry things they crushed underfoot. This is part of a talk which took place on May 8th 2017 at The Blockchain.NZ Conference in Auckland, New Zealand: https://antonopoulos.com/event/the-blockchain-new-zealand-conference/ RELATED: The Stories We Tell About Money - https://youtu.be/ONvg9SbauMg Fake News, Fake Money - https://youtu.be/i_wOEL6dprg Blockchain vs. Bullshit: Thoughts on the Future of Money -https://youtu.be/SMEOKDVXlUo Bitcoin and the Banks - Five Stages of Grief - https://youtu.be/43Ucj6_Erb0 How do banks react to Bitcoin? The Five Stages of Grief - https://youtu.be/3mgw5rbgOMY Can banks still offer services for Bitcoin? - https://youtu.be/H8Si5OIOMv8 Will banks, which are so ... https://www.youtube.com/watch?v=yyXOQG5iNWo