1 00:00:00,000 --> 00:00:02,840 You ever get that feeling like you stumble on something 2 00:00:02,840 --> 00:00:06,120 huge right before it blows up? 3 00:00:06,120 --> 00:00:07,820 That's Bitcoin for me right now. 4 00:00:07,820 --> 00:00:09,400 It's like that feeling with email 5 00:00:09,400 --> 00:00:11,040 back in the early 90s, remember? 6 00:00:11,040 --> 00:00:12,600 Nobody knew what it would become, 7 00:00:12,600 --> 00:00:14,620 but you just knew it was big. 8 00:00:14,620 --> 00:00:16,160 Yeah, I see what you mean. 9 00:00:16,160 --> 00:00:19,540 This is like that, but amplified. 10 00:00:19,540 --> 00:00:22,400 And judging by this stack of Bitcoin stuff you sent over, 11 00:00:22,400 --> 00:00:26,000 the white paper, that explainer video, even a glossary, 12 00:00:26,000 --> 00:00:28,120 you're clearly ready to go way deeper 13 00:00:28,120 --> 00:00:29,680 than Bitcoin for beginners. 14 00:00:29,680 --> 00:00:32,440 It seems like you found the perfect mix of resources too. 15 00:00:32,440 --> 00:00:35,520 You've got the technical side, the big picture arguments, 16 00:00:35,520 --> 00:00:37,320 even a peek into how the major players 17 00:00:37,320 --> 00:00:38,560 are thinking about Bitcoin. 18 00:00:38,560 --> 00:00:39,400 Exactly. 19 00:00:39,400 --> 00:00:41,000 Okay, so before we get in the weeds 20 00:00:41,000 --> 00:00:42,600 of the blockchain and all that, 21 00:00:42,600 --> 00:00:43,440 don't worry, we'll get there. 22 00:00:43,440 --> 00:00:44,560 Let's just level set. 23 00:00:44,560 --> 00:00:46,440 In layman's terms, what is Bitcoin 24 00:00:46,440 --> 00:00:48,080 and why should anyone even care? 25 00:00:48,080 --> 00:00:49,520 Simplest way I can put it is, 26 00:00:49,520 --> 00:00:51,440 it's the first cryptocurrency. 27 00:00:51,440 --> 00:00:54,260 Imagine digital cash, but it totally bypasses 28 00:00:54,260 --> 00:00:55,800 banks for verification. 29 00:00:55,800 --> 00:00:57,220 No middlemen, no fees, 30 00:00:57,220 --> 00:00:59,400 just straight peer-to-peer transactions. 31 00:00:59,400 --> 00:01:01,160 That's the part that always gets me. 32 00:01:01,160 --> 00:01:04,200 And Peter van Valkenburg, in that explainer video you sent, 33 00:01:04,200 --> 00:01:08,440 he had this great analogy about email back in like 1972, 34 00:01:08,440 --> 00:01:09,800 promising tech obviously, 35 00:01:09,800 --> 00:01:11,360 but nobody knew what it would become. 36 00:01:11,360 --> 00:01:12,200 Right. 37 00:01:12,200 --> 00:01:14,280 And he thinks Bitcoin is on a similar path, 38 00:01:14,280 --> 00:01:16,760 but instead of changing how we share information, 39 00:01:16,760 --> 00:01:19,440 it's revolutionizing the concept of money itself. 40 00:01:19,440 --> 00:01:20,720 That's an interesting parallel. 41 00:01:20,720 --> 00:01:23,120 If the internet transformed communication, 42 00:01:23,120 --> 00:01:25,920 Bitcoin could totally change how we exchange value. 43 00:01:25,920 --> 00:01:27,320 And we're already seeing it, right? 44 00:01:27,320 --> 00:01:29,960 El Salvador made it legal tender, big time investors 45 00:01:29,960 --> 00:01:30,920 are jumping in. 46 00:01:30,920 --> 00:01:34,080 Heck, my mom even asked me about Bitcoin at dinner last week. 47 00:01:34,080 --> 00:01:36,680 It's definitely becoming more mainstream, 48 00:01:36,680 --> 00:01:40,240 but we have to remember Bitcoin is still relatively new, 49 00:01:40,240 --> 00:01:41,280 like with any new tech. 50 00:01:41,280 --> 00:01:43,880 You've got your diehards and then you've got the skeptics. 51 00:01:43,880 --> 00:01:44,720 For sure. 52 00:01:44,720 --> 00:01:45,760 And that's what makes it so interesting, right? 53 00:01:45,760 --> 00:01:49,400 It's not just Bitcoin's the future or Bitcoin's a fad. 54 00:01:49,400 --> 00:01:50,920 There's actually a lot of nuance here. 55 00:01:50,920 --> 00:01:51,760 Definitely. 56 00:01:51,760 --> 00:01:52,600 Speaking of nuance, 57 00:01:52,600 --> 00:01:55,120 we were checking out that interview with Michael Saylor, 58 00:01:55,120 --> 00:01:58,760 the MicroStrategy CEO, talk about a Bitcoin evangelist. 59 00:01:58,760 --> 00:01:59,840 This guy's all in. 60 00:01:59,840 --> 00:02:03,000 Yeah, Saylor's very vocal about his support for Bitcoin. 61 00:02:03,000 --> 00:02:06,280 For him, it represents property and freedom. 62 00:02:06,280 --> 00:02:08,840 He even calls it perfect digital gold. 63 00:02:08,840 --> 00:02:09,680 Whoa. 64 00:02:09,680 --> 00:02:11,320 Yeah, he's basically saying Bitcoin's 65 00:02:11,320 --> 00:02:14,440 not just an investment, it's a way to protect your money, 66 00:02:14,440 --> 00:02:16,920 to safeguard it from inflation, government meddling, 67 00:02:16,920 --> 00:02:18,680 all those things that chip away 68 00:02:18,680 --> 00:02:21,080 at the value of traditional currency. 69 00:02:21,080 --> 00:02:23,680 I can see why people are so drawn to that idea, 70 00:02:23,680 --> 00:02:26,120 but to really get how that's even possible, 71 00:02:26,120 --> 00:02:27,880 we gotta dig into the tech behind it all. 72 00:02:27,880 --> 00:02:29,160 Yeah. 73 00:02:29,160 --> 00:02:32,280 Which brings us to blockchain. 74 00:02:32,280 --> 00:02:33,520 You've been digging into the white paper. 75 00:02:33,520 --> 00:02:36,000 Anything surprise you about how this actually works? 76 00:02:36,000 --> 00:02:38,000 You know what surprises most people? 77 00:02:38,000 --> 00:02:40,120 For a technology this groundbreaking, 78 00:02:40,120 --> 00:02:43,880 blockchain is actually a pretty elegant concept at its core. 79 00:02:43,880 --> 00:02:46,920 Imagine a digital ledger, a record book. 80 00:02:46,920 --> 00:02:49,840 But instead of being controlled by say a bank, 81 00:02:49,840 --> 00:02:52,040 it's publicly viewable by anyone. 82 00:02:52,040 --> 00:02:53,440 Okay, I'm with you so far. 83 00:02:53,440 --> 00:02:56,360 But how do you make a digital record truly tamper-proof? 84 00:02:56,360 --> 00:02:57,840 That's the part where I always get lost. 85 00:02:57,840 --> 00:03:00,240 And that's where the chain in blockchain comes in. 86 00:03:00,240 --> 00:03:02,000 See, every time a Bitcoin transaction happens, 87 00:03:02,000 --> 00:03:04,000 it's like writing it down in this ledger. 88 00:03:04,000 --> 00:03:06,040 But here's the thing, once a transaction is in, 89 00:03:06,040 --> 00:03:08,000 it's virtually impossible to change it, 90 00:03:08,000 --> 00:03:10,120 erase it, any detail, it's locked. 91 00:03:10,120 --> 00:03:11,760 So if it's like a permanent record, 92 00:03:11,760 --> 00:03:13,520 how is that even possible in the digital world? 93 00:03:13,520 --> 00:03:14,520 That's the ingenuity of it. 94 00:03:14,520 --> 00:03:16,280 It's not just one big file. 95 00:03:16,280 --> 00:03:19,280 This ledger is copied across tons of computers 96 00:03:19,280 --> 00:03:20,720 all over the world. 97 00:03:20,720 --> 00:03:22,880 Think of it like a chain made of Lego blocks. 98 00:03:22,880 --> 00:03:25,320 Each block is a bundle of transactions, right? 99 00:03:25,320 --> 00:03:26,920 And they're linked to the one before it 100 00:03:26,920 --> 00:03:28,360 with something called a hash. 101 00:03:28,360 --> 00:03:31,360 It's like a unique digital fingerprint for that block. 102 00:03:31,360 --> 00:03:33,360 Okay, so I'm picturing this Lego chain. 103 00:03:33,360 --> 00:03:34,480 What makes it so secure? 104 00:03:34,480 --> 00:03:37,520 So now imagine someone tries to sneakily change 105 00:03:37,520 --> 00:03:40,160 even one tiny thing in a past transaction. 106 00:03:40,160 --> 00:03:41,840 Remember those unique hashes? 107 00:03:41,840 --> 00:03:42,680 Yeah. 108 00:03:42,680 --> 00:03:45,640 Even a tiny change completely changes the block's hash. 109 00:03:45,640 --> 00:03:48,480 Like dominoes, it sets off a chain reaction. 110 00:03:48,480 --> 00:03:51,480 And because each block is chained to the hash before it, 111 00:03:51,480 --> 00:03:54,840 one tiny change would invalidate every block after it. 112 00:03:54,840 --> 00:03:56,320 It'd be super obvious. 113 00:03:56,320 --> 00:03:58,160 So it's like trying to swap a real Lego 114 00:03:58,160 --> 00:04:00,640 in the middle of a giant tower someone built. 115 00:04:00,640 --> 00:04:02,200 The whole thing would fall apart. 116 00:04:02,200 --> 00:04:04,520 You can't just sneak a fake one past everyone. 117 00:04:04,520 --> 00:04:05,440 Precisely. 118 00:04:05,440 --> 00:04:07,120 And because this blockchain is spread 119 00:04:07,120 --> 00:04:08,880 across countless computers, 120 00:04:08,880 --> 00:04:10,680 you'd have to hack a majority of them 121 00:04:10,680 --> 00:04:14,320 at the exact same time to make your fake transaction stick. 122 00:04:14,320 --> 00:04:15,920 Basically impossible. 123 00:04:15,920 --> 00:04:18,040 That's the beauty of decentralization. 124 00:04:18,040 --> 00:04:19,640 No single point of failure, 125 00:04:19,640 --> 00:04:21,400 no central authority to corrupt. 126 00:04:21,400 --> 00:04:23,840 So it's like a global game of digital Sudoku. 127 00:04:23,840 --> 00:04:26,360 If someone tries to cheat, the whole system's like, nope. 128 00:04:26,360 --> 00:04:27,840 That's a great way to put it. 129 00:04:27,840 --> 00:04:29,440 And to enforce all of this, 130 00:04:29,440 --> 00:04:31,560 blockchain uses a proof of work system. 131 00:04:31,560 --> 00:04:32,880 Whoa, whoa, whoa. 132 00:04:32,880 --> 00:04:36,320 My brain needs its own proof of work to process all this. 133 00:04:36,320 --> 00:04:38,920 Before we go any further, let me just make sure I'm with you. 134 00:04:38,920 --> 00:04:41,240 We've got Bitcoin, the digital currency, 135 00:04:41,240 --> 00:04:44,920 running on this revolutionary tech called blockchain. 136 00:04:44,920 --> 00:04:46,600 And blockchain is essentially 137 00:04:46,600 --> 00:04:50,440 a tamper-proof decentralized ledger. 138 00:04:50,440 --> 00:04:51,480 Am I on the right track? 139 00:04:51,480 --> 00:04:52,320 Absolutely. 140 00:04:52,320 --> 00:04:54,400 You've got the fundamentals down and that's key 141 00:04:54,400 --> 00:04:57,120 because it underpins everything else we're gonna talk about. 142 00:04:57,120 --> 00:04:57,960 Okay, good. 143 00:04:57,960 --> 00:04:59,040 Because something tells me 144 00:04:59,040 --> 00:05:00,720 it's about to get even more interesting. 145 00:05:00,720 --> 00:05:01,560 Yeah. 146 00:05:01,560 --> 00:05:04,360 Okay, so we've got this incredibly secure system, right? 147 00:05:04,360 --> 00:05:06,120 For tracking digital transactions, 148 00:05:06,120 --> 00:05:07,760 tamper-proof and everything. 149 00:05:07,760 --> 00:05:09,560 But the big question is, 150 00:05:09,560 --> 00:05:12,280 what makes this more than just a tech experiment? 151 00:05:12,280 --> 00:05:15,480 Like why should anyone besides like cryptography nerds 152 00:05:15,480 --> 00:05:17,040 actually care about Bitcoin? 153 00:05:17,040 --> 00:05:19,520 That's where the real value proposition comes in. 154 00:05:19,520 --> 00:05:22,200 See, we have to shift our focus away from the tech itself 155 00:05:22,200 --> 00:05:24,880 and look at the real world problems it could solve. 156 00:05:24,880 --> 00:05:26,680 Okay, so what kind of problems are we talking about? 157 00:05:26,680 --> 00:05:27,760 Give me the big picture. 158 00:05:27,760 --> 00:05:30,240 Well, think about all those centralized systems 159 00:05:30,240 --> 00:05:33,840 we rely on every single day for our finances. 160 00:05:33,840 --> 00:05:36,920 Banks, payment processors, even governments. 161 00:05:36,920 --> 00:05:38,600 They all act as middlemen. 162 00:05:38,600 --> 00:05:40,600 And as Peter van Valkenburg pointed out, 163 00:05:40,600 --> 00:05:43,360 centralized systems are just inherently vulnerable. 164 00:05:43,360 --> 00:05:45,560 Attacks, corruption, you name it. 165 00:05:45,560 --> 00:05:48,640 Yeah, he had that point about the Equifax data breach, right? 166 00:05:48,640 --> 00:05:51,160 Millions of people's info just gone. 167 00:05:51,160 --> 00:05:52,240 And that's just one example. 168 00:05:52,240 --> 00:05:54,360 Exactly, and those examples keep popping up. 169 00:05:54,360 --> 00:05:56,840 We've seen banks get hacked, payment systems go down, 170 00:05:56,840 --> 00:05:58,840 governments manipulating currencies. 171 00:05:58,840 --> 00:06:00,160 The list goes on and on. 172 00:06:00,160 --> 00:06:03,400 Centralized systems, they're just single points of failure 173 00:06:03,400 --> 00:06:04,320 waiting to happen. 174 00:06:04,320 --> 00:06:07,320 And Bitcoin, being decentralized, 175 00:06:07,320 --> 00:06:10,440 takes that single point of failure and just obliterates it. 176 00:06:10,440 --> 00:06:11,360 Exactly. 177 00:06:11,360 --> 00:06:14,440 With Bitcoin, there's no central target for hackers. 178 00:06:14,440 --> 00:06:17,760 No single entity can just decide to freeze your assets 179 00:06:17,760 --> 00:06:19,200 or manipulate their value. 180 00:06:19,200 --> 00:06:21,000 It's about putting you back in control 181 00:06:21,000 --> 00:06:22,920 of your own financial destiny. 182 00:06:22,920 --> 00:06:25,640 OK, I see the appeal there, especially these days. 183 00:06:25,640 --> 00:06:27,800 But Michael Saylor, in that interview, 184 00:06:27,800 --> 00:06:31,920 he kept saying, Bitcoin is digital gold. 185 00:06:31,920 --> 00:06:33,080 Help me square that. 186 00:06:33,080 --> 00:06:37,360 How can ones and zeros compete with, like, actual gold? 187 00:06:37,360 --> 00:06:39,640 It's an interesting comparison because it gets 188 00:06:39,640 --> 00:06:41,920 at what gives any asset value. 189 00:06:41,920 --> 00:06:44,240 See, people get caught up in the physical aspects of gold. 190 00:06:44,240 --> 00:06:46,640 It's shiny, you can make jewelry out of it. 191 00:06:46,640 --> 00:06:49,680 But the real value of gold comes from its scarcity 192 00:06:49,680 --> 00:06:52,440 and its history as a store of value for, like, a century. 193 00:06:52,440 --> 00:06:54,200 So you're saying the value is more of an idea 194 00:06:54,200 --> 00:06:55,640 than the actual metal itself. 195 00:06:55,640 --> 00:06:56,600 Essentially, yeah. 196 00:06:56,600 --> 00:06:58,920 And Bitcoin shares a few key things with gold. 197 00:06:58,920 --> 00:07:00,840 Like gold, there's a limited supply of Bitcoin. 198 00:07:00,840 --> 00:07:02,640 Only 21 million will ever exist. 199 00:07:02,640 --> 00:07:04,640 It's literally coded into the system. 200 00:07:04,640 --> 00:07:06,800 So no matter how high the demand gets, 201 00:07:06,800 --> 00:07:09,680 nobody can just print more Bitcoin like governments 202 00:07:09,680 --> 00:07:10,520 do with their currencies. 203 00:07:10,520 --> 00:07:11,320 Exactly. 204 00:07:11,320 --> 00:07:14,400 That built-in scarcity makes it resistant to inflation, 205 00:07:14,400 --> 00:07:17,600 unlike your dollars or euros, which, let's be honest, 206 00:07:17,600 --> 00:07:20,120 can be printed like crazy. 207 00:07:20,120 --> 00:07:23,160 This is a core part of that digital gold argument, 208 00:07:23,160 --> 00:07:25,840 especially with inflation the way it is now. 209 00:07:25,840 --> 00:07:28,360 So it's almost like a global digital gold rush. 210 00:07:28,360 --> 00:07:30,440 But instead of picks and shovels, 211 00:07:30,440 --> 00:07:33,880 we're using computers to mine for Bitcoin. 212 00:07:33,880 --> 00:07:35,720 And like with real gold, the more 213 00:07:35,720 --> 00:07:39,120 people who believe in its value, the more that value increases. 214 00:07:39,120 --> 00:07:40,960 It is a compelling analogy. 215 00:07:40,960 --> 00:07:44,360 And that shared belief, it's a powerful economic force 216 00:07:44,360 --> 00:07:46,160 that can actually make a difference. 217 00:07:46,160 --> 00:07:47,440 So it's a big question. 218 00:07:47,440 --> 00:07:49,240 The big question is, though, can you actually 219 00:07:49,240 --> 00:07:52,120 walk into a store tomorrow and buy a cup of coffee with Bitcoin? 220 00:07:52,120 --> 00:07:53,280 Can you actually use it? 221 00:07:53,280 --> 00:07:53,800 Right. 222 00:07:53,800 --> 00:07:55,800 Because it can't be secure and hold its value. 223 00:07:55,800 --> 00:07:57,080 But if I can't do anything with it, 224 00:07:57,080 --> 00:07:59,080 it's not super useful in my everyday life. 225 00:07:59,080 --> 00:08:00,600 That's the million dollar question. 226 00:08:00,600 --> 00:08:03,000 And there is a lot of debate, even within the Bitcoin 227 00:08:03,000 --> 00:08:04,200 community, about it. 228 00:08:04,200 --> 00:08:06,680 Some people say, because the price is so volatile, 229 00:08:06,680 --> 00:08:09,000 it doesn't make sense for everyday purchases. 230 00:08:09,000 --> 00:08:11,560 Because I buy a coffee with Bitcoin today, 231 00:08:11,560 --> 00:08:13,480 and tomorrow it drops 10%. 232 00:08:13,480 --> 00:08:17,160 It says, as more businesses and people start using Bitcoin, 233 00:08:17,160 --> 00:08:20,040 that volatility will naturally decrease. 234 00:08:20,040 --> 00:08:22,640 And that'll make it more viable for everyday transactions. 235 00:08:22,640 --> 00:08:24,240 It's a chicken and egg thing, right? 236 00:08:24,240 --> 00:08:26,240 People are hesitant because of the volatility. 237 00:08:26,240 --> 00:08:28,920 But more adoption could mean less volatility. 238 00:08:28,920 --> 00:08:29,600 Exactly. 239 00:08:29,600 --> 00:08:32,800 And we can't forget the potential for cross-border payments 240 00:08:32,800 --> 00:08:33,920 and stuff like that. 241 00:08:33,920 --> 00:08:37,000 Imagine sending money anywhere in the world instantly, 242 00:08:37,000 --> 00:08:38,880 with way lower fees than banks. 243 00:08:38,880 --> 00:08:40,600 That's huge for a lot of people. 244 00:08:40,600 --> 00:08:42,200 That's a really compelling argument, 245 00:08:42,200 --> 00:08:44,200 especially as the world gets more interconnected. 246 00:08:44,200 --> 00:08:45,440 This is a lot to take in. 247 00:08:45,440 --> 00:08:47,800 We've gone from the nuts and bolts of blockchain 248 00:08:47,800 --> 00:08:50,960 to the potential impact on the global financial system. 249 00:08:50,960 --> 00:08:52,840 I feel like we've only scratched the surface. 250 00:08:52,840 --> 00:08:53,880 Where do we go from here? 251 00:08:53,880 --> 00:08:55,240 What's next for Bitcoin? 252 00:08:55,240 --> 00:08:57,400 Is it the future of money or just a stepping 253 00:08:57,400 --> 00:08:59,520 stone to something else entirely? 254 00:08:59,520 --> 00:09:00,680 That is the question, isn't it? 255 00:09:00,680 --> 00:09:02,540 What we're seeing is a massive shift 256 00:09:02,540 --> 00:09:04,160 in the financial landscape. 257 00:09:04,160 --> 00:09:06,200 And like with any huge change, there 258 00:09:06,200 --> 00:09:08,360 are way more questions than answers. 259 00:09:08,360 --> 00:09:11,200 But that's what makes this so exciting, right, for sure. 260 00:09:11,200 --> 00:09:13,240 We're not going to pretend to have all the answers. 261 00:09:13,240 --> 00:09:16,640 But by really digging into Bitcoin, the tech, 262 00:09:16,640 --> 00:09:19,440 the pros and cons, all of it, we can at least 263 00:09:19,440 --> 00:09:21,880 start to understand what it could mean. 264 00:09:21,880 --> 00:09:23,560 And that's incredibly valuable. 265 00:09:23,560 --> 00:09:26,000 It's amazing to me how we went from Bitcoin, 266 00:09:26,000 --> 00:09:28,920 this abstract concept to understanding blockchain, 267 00:09:28,920 --> 00:09:31,680 to talking about its potential impact on everything 268 00:09:31,680 --> 00:09:34,840 from my bank account to the global economy. 269 00:09:34,840 --> 00:09:36,440 It is a lot to digest. 270 00:09:36,440 --> 00:09:38,480 But like with any complicated topic, 271 00:09:38,480 --> 00:09:40,680 grasping the fundamentals is the key. 272 00:09:40,680 --> 00:09:42,200 And you're well on your way. 273 00:09:42,200 --> 00:09:43,680 Well, I definitely feel more prepared 274 00:09:43,680 --> 00:09:45,080 to talk about Bitcoin now. 275 00:09:45,080 --> 00:09:46,920 But I have a feeling there's a lot more to uncover. 276 00:09:46,920 --> 00:09:49,760 It wouldn't be a deep dive if we didn't go even deeper, right? 277 00:09:49,760 --> 00:09:50,760 Right. 278 00:09:50,760 --> 00:09:53,240 There are some key nuances we haven't even touched on yet, 279 00:09:53,240 --> 00:09:55,400 like the environmental impact of Bitcoin mining. 280 00:09:55,400 --> 00:09:56,360 That's a big one. 281 00:09:56,360 --> 00:09:58,900 And then you've got all the regulations around cryptocurrency 282 00:09:58,900 --> 00:10:00,400 that are constantly changing. 283 00:10:00,400 --> 00:10:04,680 The emergence of central bank digital currencies or CBDCs. 284 00:10:04,680 --> 00:10:06,720 Each of those could be a deep dive on their own. 285 00:10:06,720 --> 00:10:09,360 Man, I knew it was too good to be true. 286 00:10:09,360 --> 00:10:12,320 It's like every answer just leads to more questions. 287 00:10:12,320 --> 00:10:14,920 But hey, that's what learning is all about, right? 288 00:10:14,920 --> 00:10:15,520 Wow. 289 00:10:15,520 --> 00:10:17,560 We have covered so much ground here, 290 00:10:17,560 --> 00:10:21,640 from how blockchain works to how Bitcoin could change the world. 291 00:10:21,640 --> 00:10:24,280 It's obvious this is more than just some tech fad, right? 292 00:10:24,280 --> 00:10:24,880 It really is. 293 00:10:24,880 --> 00:10:28,600 It's fundamentally changing how we think about value, trust, 294 00:10:28,600 --> 00:10:29,960 the very nature of money. 295 00:10:29,960 --> 00:10:31,160 It's huge. 296 00:10:31,160 --> 00:10:32,960 And we tackled some big questions today. 297 00:10:32,960 --> 00:10:35,480 But what's really striking me is how many more 298 00:10:35,480 --> 00:10:37,280 this whole conversation has opened up. 299 00:10:37,280 --> 00:10:40,720 Every layer we peel back, it's like a dozen more pop up. 300 00:10:40,720 --> 00:10:44,600 That's how you know a technology is truly disruptive. 301 00:10:44,600 --> 00:10:47,040 It's not just about the solutions it brings. 302 00:10:47,040 --> 00:10:49,920 It's about challenging how we see things, forcing us 303 00:10:49,920 --> 00:10:51,480 to rethink what's possible. 304 00:10:51,480 --> 00:10:53,400 Like that whole debate we got into earlier. 305 00:10:53,400 --> 00:10:57,120 Is Bitcoin more like digital gold, something to hold onto? 306 00:10:57,120 --> 00:10:57,620 Yeah. 307 00:10:57,620 --> 00:11:00,320 Or is it meant to be the currency of the future, something 308 00:11:00,320 --> 00:11:01,600 we actually use every day? 309 00:11:01,600 --> 00:11:03,320 You know, the most interesting thing about that debate 310 00:11:03,320 --> 00:11:05,320 is that it doesn't have to be one or the other. 311 00:11:05,320 --> 00:11:06,680 Bitcoin could be both. 312 00:11:06,680 --> 00:11:07,200 You know what? 313 00:11:07,200 --> 00:11:08,840 When you put it that way, it reminds 314 00:11:08,840 --> 00:11:10,360 me of the early internet. 315 00:11:10,360 --> 00:11:12,880 Back then, people were using it for email, doing research, 316 00:11:12,880 --> 00:11:14,920 maybe some early online shopping. 317 00:11:14,920 --> 00:11:18,640 But nobody could have predicted how big social media would get, 318 00:11:18,640 --> 00:11:21,960 streaming the entire online world we live in now. 319 00:11:21,960 --> 00:11:24,920 Bitcoin could be on that same kind of unpredictable path. 320 00:11:24,920 --> 00:11:26,080 Exactly. 321 00:11:26,080 --> 00:11:27,920 Trying to predict what Bitcoin will be 322 00:11:27,920 --> 00:11:30,980 is like trying to predict the internet back in 1995. 323 00:11:30,980 --> 00:11:32,560 What we can do is look at the things 324 00:11:32,560 --> 00:11:34,240 that will shape its future. 325 00:11:34,240 --> 00:11:35,640 And you mentioned a big one before, 326 00:11:35,640 --> 00:11:38,160 the whole environmental impact of Bitcoin mining. 327 00:11:38,160 --> 00:11:40,880 That's something that has to be addressed if it's ever going 328 00:11:40,880 --> 00:11:42,440 to be widely accepted right now. 329 00:11:42,440 --> 00:11:44,400 It's a major hurdle, no doubt. 330 00:11:44,400 --> 00:11:47,880 The way Bitcoin mining works now, it takes a ton of energy. 331 00:11:47,880 --> 00:11:49,560 But more and more people are pushing 332 00:11:49,560 --> 00:11:52,440 for more sustainable mining using renewable energy, 333 00:11:52,440 --> 00:11:53,920 more efficient tech. 334 00:11:53,920 --> 00:11:55,560 It's moving in the right direction. 335 00:11:55,560 --> 00:11:57,360 So the problem isn't Bitcoin itself. 336 00:11:57,360 --> 00:11:58,880 It's how we're powering it. 337 00:11:58,880 --> 00:12:00,280 In a nutshell, yeah. 338 00:12:00,280 --> 00:12:02,880 And this is where innovation within the Bitcoin world 339 00:12:02,880 --> 00:12:04,000 becomes so important. 340 00:12:04,000 --> 00:12:05,000 What about governments? 341 00:12:05,000 --> 00:12:07,400 They haven't always been the best at embracing 342 00:12:07,400 --> 00:12:09,800 new technology, especially when it comes to something 343 00:12:09,800 --> 00:12:11,000 as important as money. 344 00:12:11,000 --> 00:12:13,360 It's a crucial part of the conversation for sure. 345 00:12:13,360 --> 00:12:16,320 Some governments are embracing it, like El Salvador. 346 00:12:16,320 --> 00:12:19,640 Others are looking into central bank digital currencies, 347 00:12:19,640 --> 00:12:21,600 CBDCs for short. 348 00:12:21,600 --> 00:12:24,120 Basically, digital versions of their own currencies, 349 00:12:24,120 --> 00:12:26,240 but using blockchain technology. 350 00:12:26,240 --> 00:12:28,320 So it's not necessarily a fight against Bitcoin. 351 00:12:28,320 --> 00:12:30,680 It's more like different forms of digital money 352 00:12:30,680 --> 00:12:34,520 are going to have to learn to coexist, maybe even compete, 353 00:12:34,520 --> 00:12:35,600 as things evolve. 354 00:12:35,600 --> 00:12:36,440 Exactly. 355 00:12:36,440 --> 00:12:38,720 And this is where really understanding the details 356 00:12:38,720 --> 00:12:40,080 is so important. 357 00:12:40,080 --> 00:12:41,880 It's not just about knowing what Bitcoin is. 358 00:12:41,880 --> 00:12:43,520 It's about understanding the things that 359 00:12:43,520 --> 00:12:45,520 will shape its future, how it could change 360 00:12:45,520 --> 00:12:47,600 our financial systems, our economies, even 361 00:12:47,600 --> 00:12:48,880 our entire societies. 362 00:12:48,880 --> 00:12:51,800 It's like we're standing on the edge of a new era, 363 00:12:51,800 --> 00:12:54,920 and Bitcoin is just the first page of a much bigger story. 364 00:12:54,920 --> 00:12:56,320 That's a powerful way to put it. 365 00:12:56,320 --> 00:12:58,760 And it's a story that hasn't been fully written yet, 366 00:12:58,760 --> 00:13:01,600 with new twists and turns, new possibilities popping up 367 00:13:01,600 --> 00:13:02,400 all the time. 368 00:13:02,400 --> 00:13:05,040 Well, one thing's for sure, after today's deep dive, 369 00:13:05,040 --> 00:13:07,560 I'm even more convinced that this is a story worth 370 00:13:07,560 --> 00:13:08,640 paying attention to. 371 00:13:08,640 --> 00:13:09,680 Me too. 372 00:13:09,680 --> 00:13:12,120 And the more we understand the basic principles, 373 00:13:12,120 --> 00:13:15,160 the technology, how all the pieces fit together, 374 00:13:15,160 --> 00:13:16,800 the better equipped we'll be to navigate 375 00:13:16,800 --> 00:13:19,120 this exciting brand new world. 376 00:13:19,120 --> 00:13:22,360 And I think that is the perfect note to wrap things up on. 377 00:13:22,360 --> 00:13:25,120 We started with the ABCs of Bitcoin 378 00:13:25,120 --> 00:13:28,160 and ended up on the edge of a financial revolution. 379 00:13:28,160 --> 00:13:29,800 That's the beauty of a deep dive, right? 380 00:13:29,800 --> 00:13:31,840 It's about peaking your curiosity, 381 00:13:31,840 --> 00:13:34,600 getting you to ask the big questions, 382 00:13:34,600 --> 00:13:36,600 and leaving you with a sense of wonder 383 00:13:36,600 --> 00:13:37,800 about what the future holds. 384 00:13:37,800 --> 00:13:39,560 Couldn't have said it better myself. 385 00:13:39,560 --> 00:13:41,140 And listeners, I have a feeling this is just 386 00:13:41,140 --> 00:13:42,520 the beginning of your own journey 387 00:13:42,520 --> 00:13:44,000 into the world of Bitcoin. 388 00:13:44,000 --> 00:13:44,720 Keep exploring. 389 00:13:44,720 --> 00:13:46,240 Keep asking those questions. 390 00:13:46,240 --> 00:13:46,880 Who knows? 391 00:13:46,880 --> 00:13:49,960 You might just uncover the next big thing in finance. 392 00:13:49,960 --> 00:14:02,560 Thanks for joining us on this deep dive.