Bitcoin Q&A: State-sponsored Digital Currencies and Trust Minimization

Should we have state-sponsored digital currencies, like the petro in Venezuela? Will cash be eradicated? Can cryptocurrencies support local and regional cooperatives, especially in credit lending? What does trust minimization really mean?

Chapters
0:00 What is your opinion on state-sponsored cryptocurrency? Or is it better in our country and economy to accept the duality of the fiat currency and all the cryptocurrencies?
2:57 Do you see a place for cooperativism and networks of trust in the crypto space, next to trustless networks?
4:35 Cash is failing. People don't have cash or they don't want to use cash. It is difficult
5:25 'Trustless' doesn't mean we don't need trust, we don't use trust, or we don't want trust

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

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Translations of THE INTERNET OF MONEY:

[goodvibes]

that much wisdom in a 7:36 minutes video increadable . thanks so much

[EddyBouvier]

"Click, Click, Click, Click".. Classic!!
He's the best.

[Duke-xewq]

To move a large amount of money illegally, get a banking license. GOLD. Great talk AA.

[BaseerSiddiqui]

Didn't even watch completely yet. But looking at the title, LOL

[ayushgupta-pcyz]

Am I the only one who noticed his differently colored shoes? :P

[KurtMaxwell]

Thanks for all your hard work... I have a very real question that has been causing me concern. Since Bitcoin only has a total of 21 million Bitcoins supply and several million coins have been lost due to poor safeguarding - What is to stop some entity (Such as the Central Banks) from buying up a vast majority of Bitcoins by printing a Trillion dollars if necessary? Before you say we would all benefit because they would have to raise the price drastically to do so... that might not be the case since dirty tactics have been used for a very long time such as "Naked Shorting". They could Short Bitcoin with near unlimited resources all the while buying Bitcoin via OTC and the retail market as weak hands sell out. It seems to me 80% - 90% of Bitcoin total available coins could be shaken out with brutal tactics and eventually being acquired by them which would effectively render Bitcoin useless and inert... If the central banks were in a position of desperation they could print several trillion dollars if that is what it took to render Bitcoin useless. Could you offer an explanation as to how this type of scenario could be avoided? Thank you very much.