A False Narrative: White Markets, Black Markets

In this talk, Andreas picks apart the false dichotomy of 'rainbow' market types (white, grey, black, red, blue), the underlying moral assumptions in these classifications, and why Bitcoin's colorblindness matters in a world where state 'justice as a service' (JaaS) is not only jurisdictionally relative and contradictory on a global scale, but often faulty and destructive within its own borders.

CLARIFICATION: At 6:50, I said that it was illegal to use bitcoin in to escape Venezuela's currency collapse. This is somewhat incorrect. There is still no law in Venezuela that is explicitly in favor or against the use of bitcoin itself; Bitcoin's status in Venezuela would be more accurately described as a grey market. Authorities have justified arrests based on accusations of "committing cyber fraud and power theft," or "money laundering" and "financing terrorism." Bitcoin miners are often subject to extortion by local police. Another charge has been "bypassing currency controls," which is what I meant to address in that statement.

Chapters
0:00 Introduction
1:27 Bitcoin and black markets
2:27 Difference between black markets and white markets
7:32 Natural state of markets
8:44 What is the trajectory of every white market?
11:04 Justice as a service
19:00 "Legal" and "illegal" are geography bound terms
20:24 Blockchains serve justice
21:21 Q&A Starts: How would you be able to enforce justice as a service from a blockchain service if there's a monopoly enforced?
24:27 Black markets and banks
26:45 Start-ups and blockchains

This is my first time using YouTube's new Premiere feature, so please let me know if you enjoyed it and I will consider doing more of these releases in the future.

Thanks to the quick work of some helpful translators, the talk will premiere with subtitles in French, German, Italian, and Spanish!

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:

[madstarr]

There is no one else out there that explains/teaches as well as Andreas!

[mike]

One of my absolute favorite Philosophers!

[Jalartifact]

Its going to be a great show. BTC, bitcoin is on the world stage and Decentralization matters.

[jllarivee]

Damn, we're about to fix corruption and fairness with digital money :D

[mickyhovis]

God bless Andreas Antonopoulos, the talks you have given throughout the world have inspired millions. Happy New year and this will make you prosper also

[Malabarismo]

amazing!
I just wish more politicians watched your videos to understand how stupid regulations like drug prohibition are...

[JavierSalcedoC]

Watched this on live streaming a few weeks ago, great talk as always! Are you uploading the "fireside chat" that happened the following day? The interwebz needs to see emotional Andreas too!

[martinkirov]

Andreas after taking a more careful look at brave I completely understand what you meant about "centralized". And they do make you use this custodial wallet in order to use the tokens as a creator. Thanks for helping me understand this! This is why I cant stop watching your videos! Always something new to learn!

[VentionMGTOW]

LOL! Why does he have one red shoe?
I do love these days the way we have ratings and reviews for pretty much all businesses. That's something that encourages good service helps people avoid bad services. Won't be long before centralized entities like google start removing negative reviews in exchange for fees. It's probably already happening.

[AmsDreamJob]

Thank you for speaking honestly and eloquently about White Markets vs. Black Markets. Not many intellectuals study this subject within economics, let alone present the info outside of the academia Ivory Tower. Much appreciated!

[elijandrosabayev]

Man, It might sound a bit naive, but you made me believe in a brighter future for us the people.

[eNvatr]

when human rights, digital finance freedom and Justice meet in a speech! Andreas keep it going!💪

[CAGG]

Great !!! Illegal, is what politicians can not charge taxes to steal.

Pls, one Rapanui icecream for this ever honest man AA. thanks for your good explanation Andreas.

[crazylove]

So sad that someone has to explain this Andreas. But you are doing a magnificent job of it! You're teaching the common sense people have been programmed to lose.

[klobasa]

Andreas once again blows my mind ....well done sir. Happy holidays everyone.

[sixkiller]

I think we need bodyguards for Andreas, he speaks so much truth and i hope he will stay safe

[TogameRosecraft]

Andreas, do you think it's possible that the Blockchain can enforce Property Rights without a Central Authority?

[RubenQuijada]

I would like to point out a little mistake he made, buying bitcoin in Venezuela is not ilegal at all. In fact, using cryptocurrencies is kind of encouraged by the government since Petro cryptocurrency was established. Having said that, I agree with everything he said.

[juanf.bolanos]

Great as always, Andreas! Saw you live in LaBitConf.

[thecryptonaut]

My question, and I am waiting til I FINALLY get to a conference with you andreas, What if a project fulfills 3 or 4 of your 5 big questions but not all 5 of them? Open, borderless, but maybe slightly centralized? For example, I run a vechain node. It is a borderless, censorship resistant blockchain, but is run by a centalized foundation. the only requirement to run a node is to have about $3000, so anyone or company can, but I am wondering if you think this would be better done with a data base.