Bitcoin, Payment Security, and Consumer Protection

A lecture by Andreas M. Antonopoulos on bitcoin’s security as a payment mechanism, compared to credit cards.

This talk was delivered on November 24th 2014 at the Melbourne Tech Center in Melbourne, Australia.

31:58 – 38:50 The future of bitcoin in the contractual space i.e. smart contracts. Using more complicated scripts (time-locked, multi-signature, multi-party). Internet of Things and smart property. The authentication system in unlocking cars. Transferring ownership.

38:52 – 44:42 Bitcoin the currency, Bitcoin the technology, Bitcoin the network. The technology doesn’t work without a viable “currency.” It takes a certain momentum of adoption. Money is a language we use to express value. Conditions to investing in bitcoin. Investing in skills, education, services.

44:50 – 50:45 Centralised services stripping away privacy. Stop re-centralising our decentralised system! Game theory. Greek mythology, creating stories to describe technology.

50:45 – 56:03 Silk Road and Mt Gox. Technological innovation is always accompanied by negativity. Sensationalism leads. I don’t know any form of money which can’t be used to buy drugs. You can’t get stabbed over TCP/IP. Deal with the root causes (healthcare, addiction), don’t try to stop the free flow of money. Charitable donations and tipping.
+1:03:17 – 1:08:21 To regulators: wait and understand before you act. Custodial control. The Bitcoin network cannot be regulated.

56:07 – 1:03:16 How I discovered Bitcoin, “nerd money.” Every good advocate started as a skeptic. Mainstream adoption. In the Western world, you have to explain the ‘why’ of Bitcoin; in the developing world, you just need to explain the ‘how.’

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