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People should not hold real values in gold or Any similar money, instead should be on smart contracts on real tech projects. Gold and Bitcoin doesn't work if it's not decentralized from people that give to exchange to people that do real economies.
If you are not currently doing so, please vote for freedom and smaller government control in your respective countries. You can help save the world. Thank you.
@@chistar8751 im from the Uk, thats so True. We did not vote anyone who now holds an important office in the UK. Just WEF puppets serving their masters. All parties are now the same. War Pigs and CBDC pushers. i forgot the Green Deal that will see the UK Skint. oh and Immigration with Zero Police checks. i thinks thats about it. Oh no 15 Minutes cites and ULEZ zones, To steal the last pound off the Citizens. I mean Consumers.
Guy, if you actually produce these videos yourself, you're a GENIUS. I cannot fathom just how well read you must be to have all this info and articulate it so well.
U gotta have 7 million by now if u been in it for 11 years. I been in it 3 years and made 200,000$ being a dummy, now I know way more and going for 800,000$ this cycle. Then 3 million next cycle
"Institutional investors ARE trying to take control of the entire Crypto Market, not just Bitcoin". -Shocked indeed, this is the stuff of nightmares! Probably the best video I have watched on this subject, thanks.
It is known why I megabyte was set per block. To be able to store the data on a regular computer for the nodes so anyone can be a node. That is the reason. Completely thought through and perfect
Yes and I think now that we have these huge mining farms that are actually traded on the stock exchange, they are more interested in share holders vs ideology. While UASF won the last fight I am not so confident in the future.
@@perrorojo1833 -- you and THEY should never be confident in any future, unless you or I work to make it so. Would the trillion dollar manipulators love to crush the value or compromise the security and the decentralization of BTC? Or would they love to increase shareholder value - it is gold they can trade and track and "control or boost" as they see fit, potentially. BTC is a public blockchain - with a few privacy features and some nuance. Maybe they can figure it out - maybe they do not care. Maybe they want to burn it all down. I do not care, because as long as BTC is decentralized and the World Wide Web is functional - they cannot stop BTC, they probably can manipulate BTC somewhat - yet they cannot really control it, not as much as they do with physical gold (in paper and electronic "markets") or even silver. Also, since they have BTC and BTC will go up, they win. Just because some poor sod has a few Satoshis or even a few BTC, means little if anything to _Them._
One thing missing is that the 1 MB block size caused transaction fees to rise so much that BTC became impractical to use for small transactions. Companies that had started accepting BTC for payments were forced to stop accepting it. A block size increase would have solved this issue but it never happened.
Good thing that block size hardfork never happened. It was a short term problem, and introducing a precedent to do hardforks easily would have killed Bitcoin.
0:18: 🔒 Institutional investors attempted to take control of Bitcoin, but the Bitcoin community successfully resisted their efforts. 4:35: 🔒 Increasing Bitcoin's block size could jeopardize its goal of becoming a new monetary system and compromise decentralization. 13:44: 💰 The video discusses the best promos and discounts in the crypto space, including trading fee discounts, bonus airdrops, and reduced prices on hardware wallets. 8:57: 🔍 The Bitcoin block size debate between big blockers and small blockers. 17:39: 🔑 The big blockers and small blockers in the Bitcoin community had different perspectives on the Bitcoin upgrade. 22:27: 📉 Big blockers fail to achieve desired Bitcoin hard fork. 26:25: 🔒 Institutional investors could potentially control all proof-of-stake cryptocurrencies if allowed to trade freely, but regulators are cracking down on the crypto market. Recap by Tammy AI
The truth is more likely Bitcoin is already a failed project. Due to the complications of acquiring Bitcoin mining rigs, having cheap electricity and the Bitcoin halving is most likely has become increasingly centralized, it's logical that just a few mining cartels control it. Not to mention the software for Bitcoin mining software is centralized and I heard closed source. Bitcoin keeps pushing its meme of being the most centralized I would guess otherwise. I would say Ethereum is more decentralised in many ways.
So my plan is to build a time machine, go back to 2009, get the bitcoin client, mint as much BTC as possible, get stupid rich in 2017, buy politicians on both sides and get good solid pro retail, pro crypto regulation passed
For Bitcoin to truly thrive by minimizing market manipulation it will be necessary for millions of people buying thousands instead of a dozen big financial institutions buying billions….if 10 million Americans buy $5,000 would be 100 billion $ ….unfortunately I think the ‘big boys’ are going to buy it all up shortly after BTC ETFs are approved
@@geromiuiboxz765 -- yes the *_Big Guys_* gamble with the little guys resources, gold, metals, money, etc... and when they are _too big to fail_ we got a Mexican Stand Off! BTC is already being purchased... not as ramped up as some would like - on all sides, yet it is being purchased by many sharks, dolphins and whales! DCA, VCA ... never go all in. Wait for the dip, then - maybe wait some more. I would think once BTC (and BTC alone) is about equal too or greater "value" than all the estimated gold available for markets, on Earth - then it will be difficult to push around - up or down. BTC will then be digital, verifiable gold - if one wants 100 Satoshis or 10,000 BTC! Then things become interesting. It may not even use SHA-256 ... or it may use _SHA-256++!!_
We all should use BTC just like it is used in Cuba. P2P, that's it. Instead of this, we trade, use centralized exchanges and allow the institutions to overtake Bitcoin. Why? Because we're too greedy. It's a shame.
Damn good analysis. I'm over 80yo and one of the believers that Bitcoin, as it should be, is freedom for ALL. Stuff it all you wealthy corps and governments that think otherwise.
My gut tells me we have 1 last major bull run coming , and then institutions will get their tentacles around the supply resulting in endless price suppression
BTC simply isn't suitable as a currency. I could walk cash or gold faster than the speed of BTCs settlement system. Lightning adds many security holes to the network which invalidates the "security" aspect of the chain. Ive moved on
I listened to the BLOCKSIZE WAR as an audiobook. It was awesome! The unfolding of events reminded me of the Art of War by Sun Tzu and the actions of rival nation states 🤔
They own it all (biggest miners, exchanges, etc...) and now we're excited for them to take all the coins through the ETFs. Crypto people just don't think at all.
Gotta get the plebs to fund their own enslavement, and you gotta pump their bags to do it. But yes, this is to remove cash, and create the global digital currency accepted by the public. Yin and Yang to make it look organic, even though everything is public ledger without privacy. All done by propaganda to remove trust by the public, causing them to demand public over privacy. This will cause a Zero Trust access system, requiring a global biometric ID to access any services. The state doesn't want privacy, and wants full control.
05:22 why did increasing the block size jump to increasing the supply? Even Satoshi himself noted that the blocksize limit he put in place was arbitrary and that it should be increased when the need arizes. Satoshi also defined bitcoin as a peer to peer payment system, "purely peer-to-peer version of electronic cash"
@@JoyRaptorSource on Satoshi blaming WikiLeaks? I’ve never seen that. He just asked WikiLeaks not to accept it until it hit parity with the US dollar, if I remember correctly.
It doesn't have to. The white paper wasn't the be all end all. Satoshi was working on different things to be built on top of Bitcoin, and those weren't mentioned in the WP either, including payment channels.
I love it how all these forks failed and BTC is the only real Bitcoin. Small blocks keep it decentralized, change the world. Bitcoin is not just a payment system, it's a monetary policy.
Blockchain is on computer. I have a hard time believing once CBDC'S have replaced our paper & coin currency that BITCOIN will be alliwed/permitted on a totally controlled internet. A super black web, could happen?
It misses a lot. And mostly it was miners and people who used Bitcoin who wanted larger blocks. The idea was/is that you need many transactions in a block to pay miners to keep going. If you have small blocks, it will limit the fees miners receive and eventually cause a lower hash rate and/or more centralized mining (who actually publish the blocks).
@@justice4g yup... you are correct, pretty much everything in this video is wrong, only the starting premise of IF some developers alter the protocol and the miners (actual nodes) run it, that is then altered and hence DIFFERENT protocol, DIFFERENT system and is therefore no longer Bitcoin, is correct... but everything else he said is false. I know it, you know it, because I know, same as me, you know that BTC is not Bitcoin and we know why (because its protocol is changed and very different from Bitcoin protocol) and we know history of it 🙂
Try? They will. That has always been the plan. They can't control the head, so they must get a hold of the body. Their approach on the hold matter is pretty smart.
I have sometimes thought about the idea of Bitcoin 2... Imagine if all the lessons about Bitcoin had been learned and a new/forked version of it could be released that was truly a 'forever algorithm'... Something that was pretty much perfect for freedom loving people, no changes required or possible and absolutely not controllable by institutions and Governments.
But Bitcoin 2 will be heavily attacked now that everyone knows about it. The difficulty will start low and so 51% attacks will happen alot. Unless Bitcoin 2 is some other type of consensus mechanism. That's why Bitcoin has survived because it was launched when nobody knew about it, so nobody attacked it. It's a one shot and will never happen again. You can't get the time back. It's quite brilliant in a sense
lol 🙂The guy who reads scripts which are full of lies and omissions of actual truth? Its Craig who created Bitcoin protocol, the whole world knows it, only idiots still trust crooks who lie to them that he isn't Even BlackRock people know it, its why Craig is directly mentioned in their Bitcoin trust application and they even hinted that most popular version may not be the actual Bitcoin 🙂
Same, I have some money in bitcoin but much more in precious metals. Still all in all not a lot of money. I am unfortunately holding mostly cash in a money market fund for the short term interest. I actually like that the best for the time being because it is stress free to a extent. As long as the dollar doesn’t collapse.
Bitcoin's great but it wasn't distributed fairly in the beginning. A few who knew about it early on have made billions while others, are fighting to even get 0.001BTC. I wonder if Satashi is still alive and would one day give his 1M BTC to the poor.
This is why I have never been enthusiastic about Wall Street getting involved with crypto. When I see Wall Street getting involved on a big level it could only be to co-opt it to kill it
Brilliant and fascinating discription on the history of Bitcoin. I've been in Bitcoin for over 8 years and have introduced many others. I intend yo continue introducing people.. This is our chance of freedom for our children. Keep up the fight Bitcoiners
Bigger blocks make a lot of sense. Until you better understand btc and decentralization, then small blocks make alot more sense. I was a bigger block guy before
I think this would have been a super reasonable block size rule, for the initial protocol, that would never have reason to change: blocksize is unlimited, with the caveat that you can't include transactions below a certain sat/byte threshold unless all prior tiers were full of transactions that met that threshold. Then both the threshold and blocksize double arbitrarily per tier. Tier 1 could've been 1000 sats/byte and 1mb blocks. Tier 2 would then be 2000 sats/byte and 2mb, tier 3 would be 4000 sats/byte and 4mb, etc.
@@DavidLawrenceDaley regural people are never meant to run those so called "nodes", even Satoshi himself pointed out years ago that nodes end up in server farms. You don't run your own email server do you in order to use email service? You are extremely ignorant with your views and you clearly lack propper knowledge of Bitcoin system (as do all BTC shills).
@@-ED-Even if Satoshi thought so, it would be wrong. With all BTC nodes in servers, you lose decentralization. Just imagine this was the case during blocksize wars. Big entities that supported bigger blocks would easily won since they controlled all the nodes in the servers. BTC layer zero should be decentralized and secure without compromises. Scalability and anything else should be solved on higher layers.
This is not correct. NO ONE controls Bitcoin protocol because Bitcoin protocol does not change. Nodes only ENFORCE the protocol, which is very different from controlling it.
and I forgot to add, BTC is not Bitcoin (because BTC is altered protocol, by the very developers this propaganda parrot in the video, mentions at the start 🙂)
I never viewed a block size change as a risk of a potential supply change. After all - the block size already is a change - one that was never intended to be permanent. It was intended to increase as global internet performance increased. I would have preferred a block size increase to the lightning network for scaling. Also, instead of blocksize increase - we got segwit - something that actually was a major change rather than modernizing an outdated protection mechanism. All of that said - there's only one bitcoin and BCH is not it.
@@Technoanima Was just taking the opportunity to raise my online poker earnings. But since we're on a personal level; no I'm not some sad bitcoin maximalist. In fact most of my money is tied up in stocks, bonds and precious metals.
Hah, glad you seem at least somewhat amused! I'm always wondering how everybody still decides to get up and report on ever more bad news... I certainly appreciate it!
honestly, guys, anybody who's been around a bit longer than your average crypto influencer will know this was coming... that's why I DSON'T care BTC is the most decentralized project... because if BTC succeeds, then it will be controlled by the corporations just as Gold.... how can it be any different?
Yes and just like J bag Diamond over at Chase & his cronies, they manipulated the Silver markets & walked away with monetary penalties only despite the felony charges. No doubt it's happening again by another set of rogue groups, yet not 1 current investigation by a Western nation. Strange since Gold especially has been bought & shuffled around by China & countless others. Major market manipulation during this buying spree. If metals were a stock, silver would be well over $200/oz by now. It's all a fraud.
You don't understand BTC then. They controlled the price of precious metal, by lying about the quantities, which you can do when a resource doesn't have a set amount(Even though gold is scarce) And it's not a technology where anyone can gauge the behaviour of The buyers and sellers. All the information about positions and Quantities is available on theblock chain ledger, they cannot mess with that, like they can currency. I'm not saying that they won't Find a way, because a combination of controlling A majority of the miners and A couple of other measures I could mention, but won't do so here, might work, if there is not enough attention from the public and miners to resist this.
Hope you guys liked that video! Have you heard about this book? Don’t forget to follow us on our socials for all the content that you are missing here 👉 www.coinbureau.com/socials/ You also have to check out our deals page for some of the best discounts, promos and bonuses of up to $40k 👉 www.coinbureau.com/deals
Am not surprised the big institutions are taking control as regards ETFs and other regulations........we would be seeing more from next year onwards
But we have Monero.
So why would we care?....
Why don't we fight back by just using Monero instead....
It actually works unlike Bitcoin.
The voting and the power should be by economic nodes. That majorities should be able to afford. And not the few miners.
People should not hold real values in gold or Any similar money, instead should be on smart contracts on real tech projects. Gold and Bitcoin doesn't work if it's not decentralized from people that give to exchange to people that do real economies.
If you are not currently doing so, please vote for freedom and smaller government control in your respective countries. You can help save the world. Thank you.
honestly idk how one would do this? UK
It's been game over for well over 20 years now. These are just the final nails.
You can only vote for the ones they allow you too. So....
@@chistar8751 im from the Uk, thats so True. We did not vote anyone who now holds an important office in the UK. Just WEF puppets serving their masters. All parties are now the same. War Pigs and CBDC pushers. i forgot the Green Deal that will see the UK Skint. oh and Immigration with Zero Police checks. i thinks thats about it. Oh no 15 Minutes cites and ULEZ zones, To steal the last pound off the Citizens. I mean Consumers.
Not smaller government control, no government control. Communities should run themselves, enough of these politicians. Who do they think they are?
Guy, if you actually produce these videos yourself, you're a GENIUS. I cannot fathom just how well read you must be to have all this info and articulate it so well.
It's a corporation with many employees, he is more like a host you see on traditional tv. There is a script, a set, editors, producers, the works.
It's a corporation saying to go against huge banks. 😂😂😂😂 fools don't get it. But aye, to each his own. 😂😂😂😂😂😂
Guy is the real satoshi Nakamoto,You can't convince me otherwise 😂😂
be free from control..is the way to live
"Liberty is always liberty from the government."
@@prinka2096 - and tyrants - large, small and petty.
Having been in crypto for 11 years now i appreciate that this was a fairly decent break down of events that occurred
except it wasn't, it was the victors version of events.. ie. the banks
U gotta have 7 million by now if u been in it for 11 years. I been in it 3 years and made 200,000$ being a dummy, now I know way more and going for 800,000$ this cycle. Then 3 million next cycle
Same here. Very important for new entrants to understand
@@yaggaprinceGood luck to you 👍🚀
No, he’s saying banks want to control it but can’t.
"Institutional investors ARE trying to take control of the entire Crypto Market, not just Bitcoin". -Shocked indeed, this is the stuff of nightmares! Probably the best video I have watched on this subject, thanks.
lol, you are not paying attention - at all - if you are truly "shocked", bro.
Naive or just out in a cabin, in the woods? Curious.
@@drx1xym154 I suspect it was sarcasm.
It is known why I megabyte was set per block. To be able to store the data on a regular computer for the nodes so anyone can be a node. That is the reason. Completely thought through and perfect
Yes and I think now that we have these huge mining farms that are actually traded on the stock exchange, they are more interested in share holders vs ideology.
While UASF won the last fight I am not so confident in the future.
@@perrorojo1833 -- you and THEY should never be confident in any future, unless you or I work to make it so.
Would the trillion dollar manipulators love to crush the value or compromise the security and the decentralization of BTC?
Or would they love to increase shareholder value - it is gold they can trade and track and "control or boost" as they see fit, potentially. BTC is a public blockchain - with a few privacy features and some nuance. Maybe they can figure it out - maybe they do not care.
Maybe they want to burn it all down. I do not care, because as long as BTC is decentralized and the World Wide Web is functional - they cannot stop BTC, they probably can manipulate BTC somewhat - yet they cannot really control it, not as much as they do with physical gold (in paper and electronic "markets") or even silver. Also, since they have BTC and BTC will go up, they win. Just because some poor sod has a few Satoshis or even a few BTC, means little if anything to _Them._
I run a full node just to do my part. If you have the capacity to do so I would suggest you do the same.
I can do it if you can support me with my already expensive power bill
@SuperKanuuna then you don't have the capacity. Also it takes very little energy. It's not mining.
Can you make a video please. Not of everything you have and do. How to start... thanks
I disagree@@ramboahoe
Excellent 👌
One thing missing is that the 1 MB block size caused transaction fees to rise so much that BTC became impractical to use for small transactions. Companies that had started accepting BTC for payments were forced to stop accepting it. A block size increase would have solved this issue but it never happened.
I was there. I remember the day a BTC transaction was $50+ because the mempool was full.
Good thing that block size hardfork never happened. It was a short term problem, and introducing a precedent to do hardforks easily would have killed Bitcoin.
Loved the historical summary! That was awesome please make more of those.
0:18: 🔒 Institutional investors attempted to take control of Bitcoin, but the Bitcoin community successfully resisted their efforts.
4:35: 🔒 Increasing Bitcoin's block size could jeopardize its goal of becoming a new monetary system and compromise decentralization.
13:44: 💰 The video discusses the best promos and discounts in the crypto space, including trading fee discounts, bonus airdrops, and reduced prices on hardware wallets.
8:57: 🔍 The Bitcoin block size debate between big blockers and small blockers.
17:39: 🔑 The big blockers and small blockers in the Bitcoin community had different perspectives on the Bitcoin upgrade.
22:27: 📉 Big blockers fail to achieve desired Bitcoin hard fork.
26:25: 🔒 Institutional investors could potentially control all proof-of-stake cryptocurrencies if allowed to trade freely, but regulators are cracking down on the crypto market.
Recap by Tammy AI
Nice bro...
The truth is more likely Bitcoin is already a failed project. Due to the complications of acquiring Bitcoin mining rigs, having cheap electricity and the Bitcoin halving is most likely has become increasingly centralized, it's logical that just a few mining cartels control it. Not to mention the software for Bitcoin mining software is centralized and I heard closed source. Bitcoin keeps pushing its meme of being the most centralized I would guess otherwise. I would say Ethereum is more decentralised in many ways.
@@davycrockett8886 This has to be a bot 😂
@@Milliardo66 Why because I'm actually asking questions and pointing logical things out. Well I'm glad I'm a bot then.
Ty sir 😊
So my plan is to build a time machine, go back to 2009, get the bitcoin client, mint as much BTC as possible, get stupid rich in 2017, buy politicians on both sides and get good solid pro retail, pro crypto regulation passed
VIDEO LIKE THIS ONE... that's why this is, without any doubt, the no. 1 channel about crypto.... TY Guy and all the team!
For Bitcoin to truly thrive by minimizing market manipulation it will be necessary for millions of people buying thousands instead of a dozen big financial institutions buying billions….if 10 million Americans buy $5,000 would be 100 billion $ ….unfortunately I think the ‘big boys’ are going to buy it all up shortly after BTC ETFs are approved
There are already ETFs in Europe and Canada ..
🇨🇱
Well, but the big guys are actually made up by small guys.
Don't they, mostly, at least ⁉️
🇨🇱
@@geromiuiboxz765 -- yes the *_Big Guys_* gamble with the little guys resources, gold, metals, money, etc... and when they are _too big to fail_ we got a Mexican Stand Off!
BTC is already being purchased... not as ramped up as some would like - on all sides, yet it is being purchased by many sharks, dolphins and whales! DCA, VCA ... never go all in. Wait for the dip, then - maybe wait some more.
I would think once BTC (and BTC alone) is about equal too or greater "value" than all the estimated gold available for markets, on Earth - then it will be difficult to push around - up or down. BTC will then be digital, verifiable gold - if one wants 100 Satoshis or 10,000 BTC! Then things become interesting. It may not even use SHA-256 ... or it may use _SHA-256++!!_
We all should use BTC just like it is used in Cuba. P2P, that's it.
Instead of this, we trade, use centralized exchanges and allow the institutions to overtake Bitcoin. Why? Because we're too greedy. It's a shame.
Greedy? Don't you mean we're broke?
tx costs are too high for everyday use because the small blocks restrict the number of transactions for normal people.
@@heyRex No. BTC is store of value AND baselayer for Lightning to make BTC also unit of exchange
Exactly. Speculation, greed and manipulation has made it too volatile for p2p payments.
Really?…
Smells like farts
Damn good analysis. I'm over 80yo and one of the believers that Bitcoin, as it should be, is freedom for ALL. Stuff it all you wealthy corps and governments that think otherwise.
EVERYTHING must be controlled!
@@AA-rs8gn They don't want you to be independent.
My gut tells me we have 1 last major bull run coming , and then institutions will get their tentacles around the supply resulting in endless price suppression
Hopefully the kids of tomorrow will take us in a different direction.
BTC simply isn't suitable as a currency. I could walk cash or gold faster than the speed of BTCs settlement system.
Lightning adds many security holes to the network which invalidates the "security" aspect of the chain.
Ive moved on
And we thank you for your cheap sats ❤️
I would also point out that this resiliency, this user directed control of protocol changes, does not exist outside of Bitcoin.
Crypto History videos are 100% my favorite crypto videos. It really helps make it possible to feel like a part of a movement and community.
THIS IS BY FAR ONE OF MY FAVORITE VIDS FROM GUY & COIN BUREAU!! Good stuff, keep it up!
This is a prime example of how "History is written by the victors"....
I am satoshi and I approve this message
I am nakamoto and I approve this message
You ain't no Satoshi, if you're send me 10 BTC😆🤣
Hi Satoshi, please send me 1btc, cheers bro.😄
NO I am Satoshi and I approve this message!😂
I am satoshi, I made Bitcoin and XRP. Do you know why I made Bitcoin ?
I was always very wary of having btc bought with fiat and the big boys jumping in on the btc train
I listened to the BLOCKSIZE WAR as an audiobook. It was awesome! The unfolding of events reminded me of the Art of War by Sun Tzu and the actions of rival nation states 🤔
The white paper of bitcoin is untitled "Bitcoin: A Peer-to-Peer Electronic Cash System". It doesn't seems obvious for certain people.
Satoshi stands for? Central intelligence! You've been conned!
One of your best videos.
They own it all (biggest miners, exchanges, etc...) and now we're excited for them to take all the coins through the ETFs.
Crypto people just don't think at all.
thats why you should have some gold.... not much... but some as backup
Gotta get the plebs to fund their own enslavement, and you gotta pump their bags to do it. But yes, this is to remove cash, and create the global digital currency accepted by the public. Yin and Yang to make it look organic, even though everything is public ledger without privacy. All done by propaganda to remove trust by the public, causing them to demand public over privacy. This will cause a Zero Trust access system, requiring a global biometric ID to access any services. The state doesn't want privacy, and wants full control.
those aint crypto peepz then, maybe just greedy lil shiits lol
Who cares? We all are here to become millionaires. As long as the price go up, I'm happy
@@danielkaufmann8253 Did you miss the part about JP Morgan getting fined almost a billion dollars for precious metal manipulation?
"But... back to the miners." Definitely heard that wrong first time round lol
As usual, an excellent video. These issues are critical to Bitcoin s survival as a an independent free market money.
I caution against assuming that people are evil just because they were wrong.
Lighting Network is pure centralization in the long term, in favor of Blackrock 😩
Instead of trying to replace national currencies, why not focusing on doing things they can't do?
For many of us, it is not about replacement, but a much less corrupt alternative. Monopolies ate bad. Options and competition is far better.
Ty Guy. Very valuable content. I learned quite a bit. 🙏🍀
Guy, thanks for the detailed explanation, although I have been BTC fan since 2010 I hadn't understood the history. Thanks and cheers.
Lol
this isn't correct at all but I suspect you won't even see my comment, they just keep on censoring us on the subject
How did you get BTC In 2010 without knowing the history. That doesn't make sense
Btc as gold. Bch as cash. Simple.
05:22 why did increasing the block size jump to increasing the supply? Even Satoshi himself noted that the blocksize limit he put in place was arbitrary and that it should be increased when the need arizes. Satoshi also defined bitcoin as a peer to peer payment system, "purely peer-to-peer version of electronic cash"
Funny how people ignore that.
They also ignore that Satoshi left because he believed btc was compromised with too early exposure by wikileaks
@@JoyRaptorSource on Satoshi blaming WikiLeaks? I’ve never seen that. He just asked WikiLeaks not to accept it until it hit parity with the US dollar, if I remember correctly.
My issue is, if you read the white paper on btc, doesn’t say anything about a lightning network.
It doesn't have to. The white paper wasn't the be all end all. Satoshi was working on different things to be built on top of Bitcoin, and those weren't mentioned in the WP either, including payment channels.
@@SAL-fs1mr oh I see, have you ever used the lighting network? Does it work for you?
Wonderful history of BTC & the cryptosphere
I love it how all these forks failed and BTC is the only real Bitcoin. Small blocks keep it decentralized, change the world. Bitcoin is not just a payment system, it's a monetary policy.
This was an amazing video! It's so exciting to learn about the past. Very informative.
The beauty of crypto is that it has a Cap....
A big Thank You, Guy. 🤗
It's over for the little guy
Blockchain is on computer. I have a hard time believing once CBDC'S have replaced our paper & coin currency that BITCOIN will be alliwed/permitted on a totally controlled internet. A super black web, could happen?
Have little to no understanding of this system. Only realize it's all on line!!
Amazing work!!! Salute!!!
This was an excellent, informative video. It cleared up quite a few of the gaps I had in understanding BTC history. Thanks!
it's actually very wrong
@@justice4g ???
It misses a lot. And mostly it was miners and people who used Bitcoin who wanted larger blocks. The idea was/is that you need many transactions in a block to pay miners to keep going. If you have small blocks, it will limit the fees miners receive and eventually cause a lower hash rate and/or more centralized mining (who actually publish the blocks).
this is so wrong, it's almost disinfo. it sucks Guy is such a newb because i don't think hes doing it intentionally, he just wasnt there
@@justice4g yup... you are correct, pretty much everything in this video is wrong, only the starting premise of IF some developers alter the protocol and the miners (actual nodes) run it, that is then altered and hence DIFFERENT protocol, DIFFERENT system and is therefore no longer Bitcoin, is correct... but everything else he said is false. I know it, you know it, because I know, same as me, you know that BTC is not Bitcoin and we know why (because its protocol is changed and very different from Bitcoin protocol) and we know history of it 🙂
Try? They will. That has always been the plan. They can't control the head, so they must get a hold of the body. Their approach on the hold matter is pretty smart.
I have sometimes thought about the idea of Bitcoin 2... Imagine if all the lessons about Bitcoin had been learned and a new/forked version of it could be released that was truly a 'forever algorithm'... Something that was pretty much perfect for freedom loving people, no changes required or possible and absolutely not controllable by institutions and Governments.
The OG Btc is still fit for that, as long as it’s secure, nobody cares if it takes 10 mins to finish a transaction
If bitcoin 2 has any shred of success, then it ensures there is no credibility to scarcity, as Bitcoin 3 will be made and so on.
But Bitcoin 2 will be heavily attacked now that everyone knows about it. The difficulty will start low and so 51% attacks will happen alot. Unless Bitcoin 2 is some other type of consensus mechanism.
That's why Bitcoin has survived because it was launched when nobody knew about it, so nobody attacked it. It's a one shot and will never happen again. You can't get the time back. It's quite brilliant in a sense
We already have Bitcoin 2. It's Bitcoin 😅
How will small blocks help with constznt halvings. They want to bankrupt the small guys.
Thank you for this one. Looking for the book.
Imagine Guy being Satoshi after all those years
lol 🙂The guy who reads scripts which are full of lies and omissions of actual truth?
Its Craig who created Bitcoin protocol, the whole world knows it, only idiots still trust crooks who lie to them that he isn't
Even BlackRock people know it, its why Craig is directly mentioned in their Bitcoin trust application and they even hinted that most popular version may not be the actual Bitcoin 🙂
Why did you show the picture of the guy we know isn’t Satoshi Nakamoto?
Thank you Guy! watching every video for the past 3 years❤
Thank you! Glad you like them!!
If crypto isn’t the answer it’s the step that starts us in the right direction
Everyone should understand this history. It’ll set you free.
Finally! That’s a good video… There is nothing better than when you do crypto related vids, thanks
Great and important video
Gold an silver are well and truly manipulated
I'm hanging onto my Precious metals still safer then crypto and Federal Reserve notes
Cover your bases.
@paranoidandroid9825 rule #1 is diversify;)
Same, I have some money in bitcoin but much more in precious metals. Still all in all not a lot of money. I am unfortunately holding mostly cash in a money market fund for the short term interest. I actually like that the best for the time being because it is stress free to a extent. As long as the dollar doesn’t collapse.
@@paranoidandroid9825I know of a paranoidandroid LND node 🤔
Thanks for letting me hang out with you. I always come away with a deeper understanding.
They can't control it ever.
Jonathon's classification of small vs big blockers seems very contrived to say the least. Thanks for the video though.
Exactly! Guy just repeats stuff from the book without it raising any flags in him. So delusional. I take it he don't like hanging out in r/btc either.
Precisely, ASSCORN, the capital sink keeping silver and gold shorts from imploding.
Bitcoin's great but it wasn't distributed fairly in the beginning. A few who knew about it early on have made billions while others, are fighting to even get 0.001BTC. I wonder if Satashi is still alive and would one day give his 1M BTC to the poor.
I watched this twice. Great stuff! Thanks Guy!
This is why I have never been enthusiastic about Wall Street getting involved with crypto. When I see Wall Street getting involved on a big level it could only be to co-opt it to kill it
Wow! A lot to unpack here. Great work Guy!😀
5:20 uh, the supply of gold IS subject to change, it's called gold mining. 🤦♂️
Brilliant and fascinating discription on the history of Bitcoin. I've been in Bitcoin for over 8 years and have introduced many others. I intend yo continue introducing people.. This is our chance of freedom for our children. Keep up the fight Bitcoiners
I gotta watch this video 10x. It’s jam packed of super cool info.
Well done Guy!
Bigger blocks make a lot of sense. Until you better understand btc and decentralization, then small blocks make alot more sense. I was a bigger block guy before
This just proves how complex crypto currency is and become if you are unwary.
This was a forking good episode!
I love how he leaves a message of hope at the end, we will win! Bitcoin will win!
BTC is not Bitcoin
@@EdinKuky Yes in fact, it is.
They're not trying They're already controlling it.
They control BTC, but not Bitcoin
BTC is not Bitcoin 🙂
I think this would have been a super reasonable block size rule, for the initial protocol, that would never have reason to change: blocksize is unlimited, with the caveat that you can't include transactions below a certain sat/byte threshold unless all prior tiers were full of transactions that met that threshold. Then both the threshold and blocksize double arbitrarily per tier. Tier 1 could've been 1000 sats/byte and 1mb blocks. Tier 2 would then be 2000 sats/byte and 2mb, tier 3 would be 4000 sats/byte and 4mb, etc.
Then regular people wouldn’t be able to run a node and you would need a server farm to hold all the blockchain. That literally defeats the purpose
@@DavidLawrenceDaley regural people are never meant to run those so called "nodes", even Satoshi himself pointed out years ago that nodes end up in server farms.
You don't run your own email server do you in order to use email service? You are extremely ignorant with your views and you clearly lack propper knowledge of Bitcoin system (as do all BTC shills).
@@-ED-Even if Satoshi thought so, it would be wrong.
With all BTC nodes in servers, you lose decentralization.
Just imagine this was the case during blocksize wars. Big entities that supported bigger blocks would easily won since they controlled all the nodes in the servers.
BTC layer zero should be decentralized and secure without compromises. Scalability and anything else should be solved on higher layers.
Adam Back wouldn't have been able to cop out as satoshi and start Blockstream if this was the case, so no. Adam has to get his profit.
"Bitcoin nodes control Bitcoin" - good stuff
This is not correct.
NO ONE controls Bitcoin protocol because Bitcoin protocol does not change.
Nodes only ENFORCE the protocol, which is very different from controlling it.
and I forgot to add, BTC is not Bitcoin (because BTC is altered protocol, by the very developers this propaganda parrot in the video, mentions at the start 🙂)
6:44 That guy is named Satoshi, but he did not develop bitcoin.
very insightful - thanks for the clarity
As always, much obliged 😊
I never viewed a block size change as a risk of a potential supply change. After all - the block size already is a change - one that was never intended to be permanent. It was intended to increase as global internet performance increased. I would have preferred a block size increase to the lightning network for scaling. Also, instead of blocksize increase - we got segwit - something that actually was a major change rather than modernizing an outdated protection mechanism. All of that said - there's only one bitcoin and BCH is not it.
But BSV is?
@@picketfSatoshi’s vision is the Bitcoin that Satoshi made, BTC, not Bitcoin SV
To be clear. BTC is the only Bitcoin - even if they make bad decisions. BSV is just a crapcoin fork of a crapcoin fork.
@@picketf an excellent example of people who can't put two and two together.
@@Technoanima Was just taking the opportunity to raise my online poker earnings. But since we're on a personal level; no I'm not some sad bitcoin maximalist. In fact most of my money is tied up in stocks, bonds and precious metals.
They will crush bit coin, why would they allow it to compete against their own digital currency... Smh
Know your history otherwise you’ll get lost #btc
Hah, glad you seem at least somewhat amused!
I'm always wondering how everybody still decides to get up and report on ever more bad news... I certainly appreciate it!
honestly, guys, anybody who's been around a bit longer than your average crypto influencer will know this was coming... that's why I DSON'T care BTC is the most decentralized project... because if BTC succeeds, then it will be controlled by the corporations just as Gold.... how can it be any different?
Yes and just like J bag Diamond over at Chase & his cronies, they manipulated the Silver markets & walked away with monetary penalties only despite the felony charges. No doubt it's happening again by another set of rogue groups, yet not 1 current investigation by a Western nation. Strange since Gold especially has been bought & shuffled around by China & countless others. Major market manipulation during this buying spree. If metals were a stock, silver would be well over $200/oz by now. It's all a fraud.
You don't understand BTC then. They controlled the price of precious metal, by lying about the quantities, which you can do when a resource doesn't have a set amount(Even though gold is scarce) And it's not a technology where anyone can gauge the behaviour of The buyers and sellers. All the information about positions and Quantities is available on theblock chain ledger, they cannot mess with that, like they can currency.
I'm not saying that they won't Find a way, because a combination of controlling A majority of the miners and A couple of other measures I could mention, but won't do so here, might work, if there is not enough attention from the public and miners to resist this.
Also you can just buy as much as possible and watch price rise
Incentives, that’s how it’s different and finality of scarcity. This has never happened in human history
I hate when they wanna water do w n shit or dillute it just a way of control and manipulate value😠
Outstanding work again!
Great show thank you
Great like every time ! Thank you
crypto and BTC especially will prevail, I think we can all agree about that ☺☺
Excellent job!
Sound like deliberate destruction
Excellent information!!
Stock picture of random older Asian guy for Satoshi 😅
lol: 6:37 that is not Satoshi