The BEST Bitcoin Explanation of ALL TIME (in Under 12 Minutes)

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Bitcoin is up over 160% this year and it’s looking like 2024 is going to be another huge year for the crypto currency.

However many investors and people don’t actually understand the value proposition for Bitcoin and why it’s going to increase in price in the future.

This is the greatest Bitcoin explanation of all time.

If you have a family member or friend who doesn’t understand bitcoin & crypto currency and don’t understand why it’s inevitably going to go up.

Send them this video, they will thank-you.

First off some context, this speaker is Peter Valkenburgh and he’s the director of research at coin centre.

Here’s he is explaining why Bitcoin is innately valuable.

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What is bitcoin Bitcoin is the world’s first cryptocurrency and it works because of the world’s first public blockchain network what does Bitcoin do it’s simple it lets you send and receive value to and from anyone in the world using nothing more than a computer and an internet connection now why is it

Revolutionary because unlike every other tool for sending money over the Internet it works without the need to trust a middleman the lack of any Corporation in between means that Bitcoin is the world’s first public digital payments infrastructure and by public I simply mean available to all and not owned by

Any single entity is it perfect no neither was email when it was invented in 1972 bitcoin’s not the best money on every margin it’s not yet accepted everywhere it’s not used often to quote prices and it’s not always a stable store of value but it is working

And the mere fact that it works without trusted intermediaries is a amazing Bitcoin is up over 160% this year and it’s looking like 2024 is going to be another huge year for the cryptocurrency however many investors and people don’t actually understand the value proposition for Bitcoin and why it’s

Going to increase in price in the future so this is the greatest Bitcoin explanation of all time if you have a family member or friend who doesn’t understand Bitcoin and cryptocurrency and doesn’t understand why it’s inevitably going up send them this video they will thank you in the future first

Off some context the speaker is Peter valkenberg and he’s the director of research at coin Center he he is explaining why Bitcoin is innately valuable now we have public infrastructure for information for websites for email it’s called the internet but the only public payments infrastructure that we have is cash as

In paper money and it only works in face-to-face transactions before Bitcoin if you wanted to pay someone remotely over the phone or the internet then you could not use public infrastructure you would rely on a private bank to open their books and add a ledger entry that

Debits you and credits the person you’re paying and if you both don’t use the same bank well then there’ll be multiple Banks and multiple Ledger entries in between with Bitcoin The Ledger is the public blockchain and anyone can add an entry to that ledger transferring their Bitcoins to someone else and anyone

Regardless of their nationality race religion gender sex or creditworthiness can for absolutely no cost create a Bitcoin address in order to receive payments digitally Bitcoin is the world’s first globally accessible public money is it perfect no neither was email when it was invented in 1972 bitcoin’s

Not the best money on every margin it’s not yet accepted everywhere it’s not used often to quote prices and it’s not always a stable store of value but it is working and the mere fact that it works with without trusted intermediaries is amazing it’s a computer science breakthrough and it will be as

Significant for Freedom prosperity and human flourishing as the birth of the internet and Bitcoin is just the beginning if we can replace private payments infrastructure then we can replace other private choke points to human interaction as well now why should we want to build more public infrastructure why should we Embrace

Blockchains over corporate intermediaries why should we tolerate their inefficiencies and work to make them better why should we want the pioneers of this technology here in the United States and not fleeing overseas a simple reason because the corporate intermediaries providing today’s critical but privately owned infrastructure are becoming fewer larger

And more powerful and their failures are increasingly grave so roughly half of all Americans 143 million people had their social security numbers exposed to hackers because of a breach at Equifax the Swift network has relayed hundreds of millions of dollars in fraudulent transactions because of hacked member banks in Bangladesh Vietnam Ecuador and

Russia the FBI suspects now that the largest of these hacks was perpetrated by North Korea corrupt low-level employees at an Indian Bank Punjab National were able to fraudulently certify Swift messages stealing 1.8 billion it’s the largest electronic bank robbery in history in fact it’s the largest bank robbery in history in

October 2016 an estimated 1.2 million Internet connected devices were hacked and turned into a bot net that for several hours made prominent websites unavailable across Europe and North America including CNN and Fox News The New York Times And The Wall Street Journal increasingly physical machines are being connected to the internet to

Augment their capabilities they’re wired through servers that are owned and maintained by private and trusted intermediaries the so-called Internet of Things pacemakers from St judee’s Hospital have been hacked baby monitors from trendnet have been hacked and jeeps from Jeep have been hacked to the point where they can be remotely commandeered

And driven off the road now those vulnerabilities are inescapable in systems that have single points of failure it doesn’t matter if the point of failure is a corporation or if it’s a government there shouldn’t be a single point of failure similar choke points existed before the internet if you

Wanted to deliver a message you’d have to go through one of three television broadcasters or a handful of newspapers private corporations are essential but no critical infrastructure should rely on one or 2 the internet removed single points of failure in Communications infrastructure and ushered in a wave of competition among New Media corporations

Building on top of its public rails blockchains can similarly disintermediate critical payments and iot infrastructure the technology is not yet ready to answer all of those questions today but it is our best hope and as with the internet in the 1990s we need a light touch pro-innovation policy to ensure that these Innovations

Flourish in a America for the benefit and security of all Americans so that explains Bitcoin and its overall value proposition but why is Bitcoin going up and why will its price inevitably go up in the future this was expertly explained by Parker Lewis who did a university keynote on bitcoin one of the

Topics he covered was why Bitcoin is the greatest asymmetric bet of all time here’s his explanation this is the price of Bitcoin on a non-log basis I like to describe Bitcoin this will be my last slide before I take questions but it is that Bitcoin is the greatest asymmetry

To ever exist in the world most of you guys are familiar with the nature of asymmetry but is simply an asymmetry relative to downside versus upside it can be the reverse which is part of why Bitcoin is the greatest asymmetry to ever exists I say that it’s the greatest

Asymmetry to ever exist because no event could possibly be more positively asymmetric than the world adopting it a new form of money you could look at me and you could say that it’s crazy but that’s what asymmetry is inherently about even if you ascribed a much lower

Probability to the event than I would you still have to recognize that if the world were adopting a form of money that that event would be massively asymmetric for the holders of the currency now this is what I put forward is that most of asymmetric events are low probability

Bitcoin adoption is probable there’s a finite surface area you might not understand how Bitcoin enforces a fixed supply of 21 million but if you can start to appreciate that that is the signal then you start to have a baseline to evaluate the problem it is a known

Surface area and you can actually figure out for yourself whether or not you think it to be true because if you think it to be true based on your own reason and logic as to how Bitcoin enforces his fixed Supply then the event is probable the other side of it is there’s negative

Asymmetry to hyperinflation I don’t raise the idea of hyperinflation to be fear-mongering or to scare people but if they print $5 trillion and they’re going to have to print way more money than that there is a reality that human beings cannot continue to be compensated for their finitely scarce time in a form

Of money that it costs nothing to produce every instance of hyperinflation that’s ever exists in the world comes about because of printing money they’ve printed more money than we can possibly conceive of in the last 3 years they did it post financial crisis they’re going

To have to do it again because of that imbalance between that 96 trillion of debt that exists in the world and the only 8 trillion that exist and so even though they’ve printed a ton of money all that induces the need for ever more and I highlight for people here the move

From to a th000 in Bitcoin because the thing that I struggle with the most at the end is what most people struggle with the most is that well haven’t I already missed it a single Bitcoin cost well when I did this was 28,000 I think it’s about 28,000 now but that was the

Same way that I felt when I was adopting Bitcoin right in the middle of that when it was $500 but I’ve never sold a Bitcoin and Bitcoin is just as cheap today as it ever has been because still very few people own it and that where Bitcoin is today 28,000 will look the

Same way that 100 to th000 move look when 10x the number of people adopt Bitcoin or 100x the number of Bitcoin people adopt Bitcoin that people adopt Bitcoin if they find the true signal because it’s the solution to inflation not because it’s a hedge to inflation all of that centers around a fixed

Supply of 21 million and if you can start to see on this chart where there was a rise and fall but there have been many more in the past and Bitcoin never goes down to those prior highs and lows for the reason that it is finitely scarce and knowledge does distribute as

A function of time more people figure it out you don’t unsee Bitcoin and the last point that I make is that Bitcoin scarcity while everything revolves around it all fundamental value deriv from the fact that there will only ever be 21 million if you do not understand

Bitcoin how it works why that is the case why that’s relevant Bitcoin scarcity cannot be a value to you that’s why it’s not a hedge that’s why a lot of people panicked and sold Bitcoin when it was 16k and now it’s sitting at 208k and people are figuring out that Bitcoin

Didn’t die and the Bitcoin happening is happening but most of the world doesn’t know about that that but again I can talk to you about these ideas but if you do not understand it if you do not have the knowledge it’s not about I have a

Picture of my book that’s soon to be released not yet out but I help people understand Bitcoin because I find it to be a moral imperative unchain helps people understand Bitcoin but there’s other side of it that scarcity and Bitcoin sck Supply cannot be of value to

You if it’s possible to L I secure my own Bitcoin with unchain it’s money under the mattress I don’t have the counterparty risk of the company nobody who operates with it a lot of companies failed but if you think about that idea all value Bitcoin starts and stops for

The reason that there will only ever be 21 million Bitcoin if you do not understand that Bitcoin cannot hedge inflation for you you will panic and sell it at the at the absolute wrong time and if you were to put it in an institution that blew up like an FTX or

A blockfi or a Celsius did Bitcoin store value for you if it went from 1,000 to 288,000 it only stores value for you if you know what to do with it and unchain is the best of that so with that I will pause and open it up for questions so

That brings us to the end of our comprehensive exploration of bitcoin’s value proposition and it’s potential for future growth as we’ve heard from experts like Peter valkenberg and Parker Lewis the reasons behind bitcoin’s increasing value are deeply rooted in its unique characteristics and the evolving Financial landscape remember understanding Bitcoin and the broader

Cryptocurrency Market is key to making informed decisions about your Investments and financial future whether you’re a seasoned investor or just starting to explore the world of digital currencies the insights we’ve shared today are invaluable for more in-depth discussions and expert analysis on cryptocurrencies and financial Trends don’t forget to subscribe to the channel

Your support helps us bring the most relevant and up-to-date information in this rapidly evolving space anyway guys hope you all enjoyed today’s video and I’ve provided you with some value I’ll see you all on the next one and as always all the best