2. Money, Ledgers & Bitcoin

MIT 15.S12 Blockchain and Money, Fall 2018
Instructor: Prof. Gary Gensler

In this lecture, Prof. Gensler discusses the history of money, ledgers, fiat currency, central banking, early digital money, and mobile payments.

License: Creative Commons BY-NC-SA

[patula]

For somebody like me who would have potentially zero chance to be there physically, finding it on YouTube is priceless! Thank you

[Admsn]

Damn! Im sitting in middle eastern europe listening lectures from SEC Chairman at one of the best Uni's in the world. What a time to be alive!

[Life_with_Darnell]

Who’s watching this in 2024? 😅 I am sure he will still be influential.

[onefull]

I last attended college in 2006. I’m excited to have access to a top tier college classes at MIT! Thank you to all whom have made mitopencourseware a reality for those of us seeking wisdom!

[sonnyps]

Timestamps
0:00 - 8:00 Introduction, Revision of Last Lecture's survey
8:01 Role of money - Discussion around money
---- (8:32 - 3 classic roles of money | 10:00 Fiat currency backed by Gold?)
15:00 History of money
31:00 History of currency (Salt Bar, Rie stone - scarcity)
37:33 Ledger

[roosah]

This is how classes should be, not just teaching but involvement. Everyone has done ideas not ask are correct just like not ask are wrong. The confluence of ideas is what makes education enriching and entertaining while still remaining relevant to the times. Really love this type of teaching where everyone's learning by participating.

[RogerClubv]

This is awesome. There's nothing better than learning something daily on youtube rather just watching mindless video content.

[MrAMDU]

> CPA girl @ 57:30 : "You cannot just issue new notes whenever you need them. You can't just make new money out of thin air."
> Money Printers:
> JPOW: _"What was that?? I can't hear you over all this noise!"_

[valerios]

2 considerations: 1) this content Is so much valuable for people that aren't able to attend MIT 2) Students in this class, for my perspective, seems normal people eager to learn..they make mistakes like everyone else, they seems...like us!

[catstothemoon]

I love this professor. This subject matter is riveting to me. His relaxed demeanor and obvious thirst for learning and caring about others is so nice to see.

[Shizomis]

proud to have someone that understands the core fundamentals of bitcoin as our head of the SEC.

[NicholasBones]

So this guy is the SEC chairman now? BTW, love all of these free courses. They are simply amazing. Keep up the great work!

Edit: he is now actually confirmed as the chairman

[bodikhuutumurbaatar]

The one thing about these video lectures is that you can stop and rewind where you did not catch or understand something is just awesome because irl you would be just smiling with the face that saying you got that part.

[hggttffj]

Prof Gary is a great teacher from what i see, very laid back keep the class involved . the classes doesn't seem like an hour. keeps me wanting more. great job Gary gensler .

[JacobMichaelC]

My notes after two lectures: "He didn't even know Larry was gonna be here"

[goldmantracks]

MIT and their integrity shown by not pulling this down at garys request is encouraging

[bernardoalves]

1:25 this is just an insanely good sign on how exceptional of a teacher this man is. What a luck to be alive at a time where this is available for free

[silloh]

Bravo, this class knows more about bitcoin than 99.999% of the world! Gensler will bring it!

[MrBrick]

Gary has an amazing speaking voice and disposition as an instructor. I would gladly sign up for any class he teaches.

[theparadigest]

What an amazing time to be alive to sit in on a lecture from MIT !!!! Now as he currently sits at the head of the SEC would be amazing to have a converstion with him about some of his views today.