The Best explanation of BITCOIN you will ever hear | PV Valkenburgh

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[Informieredichonline]

This is not an explanation, but a profession of faith.

[kamakkin]

It’s great to see that the guy sitting next to Peter is one of Bitcoin’s biggest haters and he has to listen to this epic statement!

[neubauer]

"enabling chokepoints to human interaction" perfectly said. Crypto enables true global P2P

[semcodub]

The simplest explanation I've ever heard. Thanks

[greenlea]

Would like to know which committee he was presenting to and when, can anyone assist?

[ludan]

If your investment knowledge is true, you will be successful in making money

[apester]

Where is this video from? What was the event?

[marcm]

Not a technology expert. But this explanation goes some way in convincing me of the comparative strength of the bitcoin to transfer value. What it does not explain is how value has been obtained. This is why we use/need intermediaries that have a fiduciary/regulatory duty and too some extent self interest to check the origin of the value that is asked to transfer (e.g. not illicit). Second point I would love to understand better is how the supply side is managed. In absence of a central bank, monetary policy, you would need supply bitcoins/ crypto to be finite. I understand that such is case by means of legal provisions and embedded technology that ensures mining beyond a certain number of coins becomes uneconomic ? Look forward to an explanation.

[raefzn]

I agree his explanation is worded in a way a kid fresh to highschool could understand. But i hope his last sentence is not meant seriously. Bitcoin and the internet is there for the people without being bound to just a single nation be it america china russia or any other (maybe i just misunderstood the meaning of what he was saying there, english is not my native language). Country borders are only on maps and in our minds. There is no us and them... only we.

[marygiovannelli]

Am I the only one who doesn’t understand why the value of Bitcoin goes up or down? Can anyone explain that to me, the slower learner in this crowd. I get that it replaces the need for banks and can be used to purchase things, I just don’t understand why one coin can go up to like 100 times its value. The dollar paper money doesn’t do that. Please help the slower learners like myself understand that piece. 😃. Thanks

[xesentertainment]

Great explanation and I get it however talking to older people about this just goes straight over their heads you can see these people are like deers in headlights

[flor.]

Peter Van Valkenburg ignores: As of April 2023, estimates have been published stating that a single Bitcoin transaction can consume on average between 1, 000 and 2, 000 kilowatt-hours (kWh). However, this number can vary significantly depending on the current network load and the efficiency of the mining operations. It has much more downsides for humanity. Global warming!!!! 🙈 He lifes in his computer world. Even Tesla do not accepts paying with bitcoins. Well done Elon! 🙏

[csp]

Much of this has nothing to do with bitcoin

[obrienchin]

Typical tech evangelist peddling the "how" without understanding the "why".
Is bitcoin an interesting innovation? Of course! But people that hail the so called benefits don't understand the actual purpose and challenges of currency. In fact, it seems this guy has no idea what money is, nor how it's different from currency, based on his incorrect use of the word money here. If speaking to the lay person, using money and currency interchangeably is acceptable, but not in a discussion with lawmakers. You need to be precise in choice of words.
And just because a bunch of ignorant people are cheering for something doesn't mean it's the right thing. I have yet to speak to anyone who can tell me the difference between money and currency. Currency has been the single most difficult problem in the history of civilization... but bitcoin... lol

[iamasmurf]

Not owned by anyone ? And then NFTs said hold my beer