Bitcoin | How Bitcoin and Blockchain Fight Surveillance Capitalism | Why Bitcoin Matters

hi i'm travis you're watching curious 
tangents and you could probably   hack a bank this video can't be about 
that for reasons but it's probably a   lot easier than you might think since this 
video cannot be about that let's instead   talk about bitcoin and blockchain and how that 
technology is gonna change the world and also   how the technology that you currently 
use is in a way selling you let's begin the technology that bitcoin uses blockchain was 
developed in 1991 when nickelodeon was good and   clothing was awful so up until 2009 blockchain was 
a technology that was used pretty much exclusively   to stop people from altering time stamps this 
sounds incredibly simple and in a way it is   a pretty simple process despite the fact that 
bitcoin is the thing that gets all of the hype   blockchain is by far the bigger asset here so in 
2009 likely as a response to the institutional   incompetence that had been happening well since 
the beginning of time but especially in the years   previous to 2009 and also beyond so in 2009 likely 
as a response to the institutional incompetence   that caused the 2008 recession bitcoin was created 
by a group called satoshi nakamoto the interesting   thing about satoshi nakamoto is satoshi nakamoto 
is just an alias we don't actually know where   this information came from it came from a group 
located in japan well i say group but it could   have been an individual it's foggy but whoever is 
behind satoshi nakamoto were the first to apply   blockchaining to something other than time 
stamping and they did that to currency and   so now we have bitcoin bitcoin blockchain and 
cryptocurrencies in general are incredibly   disruptive to the economy as it stands and the 
reason why they're disruptive is because our   capitalistic state is into the thing that's called 
surveillance capitalism existence of bitcoin   directly undermines the system and i'll get into 
more of what that is in just a second but first   let's do a thought experiment so imagine that 
you exist shouldn't be too difficult and imagine   that every single time that you use a website 
another version of you is created somewhere else   except this version rather than being created of 
flesh and blood is made out of data your data and   this digital version of you might know you better 
than you know you now this digital version of you   isn't just a mirror of what you are now it's a 
more accurate image i mean do you know where you   were five years ago on this day because facebook 
does how about how you were feeling on this day   five years ago or maybe the little details that 
you posted about your spouse who is no longer your   spouse now imagine that every single time that 
you use a website this version of you becomes   a bit more accurate the real problem with this 
digital copy of yourself is that you don't own it   none of us do these things are owned by companies 
and the ownership of personal data by companies   is a thing that is referred to as surveillance 
capitalism i am also in a way facilitating   surveillance capitalism by producing this video 
the ads that came up in front of this video   if and he did aren't random they are there and 
they are tailored to you based on what youtube   and google know about you bettina warburg 
researcher and author of basics of blockchain   gave an amazing ted talk on this and then she 
said that institutions like banks corporations and   even the government are tools that we use 
to decrease uncertainty the reason that   i said that banks are easy to hack in the 
beginning of this episode is because a bank   is a centralized entity you only have to get 
into one server and you're in the entire thing   where a bank works like a single-celled organism 
blockchain is like a herd of lions heard of lines   it's a completely different level of complexity 
basically blockchaining works by storing   information on multiple different servers and then 
the information on that server is fact checked   between them in a way any discrepancy and the 
discrepant information is kicked out in order to   hack bitcoin you would need to hack every single 
server at the exact same time so in short you   can't hacking bitcoin is near impossible what 
this means is that blockchain and any system   built on top of it is trustworthy by itself you 
might be asking why this is so disruptive stick   with me imagine a company like amazon one of 
the biggest companies that has ever existed   like facebook they're not really in the business 
of physical products though they do now have a few   the main thing that amazon is actually selling is 
a connection amazon connects you the consumer to   they the businesses businesses get an increased 
customer basis and accessibility at a fee   amazon collects that fee and you get products now 
they have vastly expanded this to have things like   amazon prime and their own products but stick with 
me imagine a world where those businesses or those   individuals didn't need a middleman the reason 
that you and i use a service like amazon primarily   is because you can trust amazon more than you 
can trust a random individual on the internet   but if we had a guaranteed system a system 
that by its nature could not be cheated   then businesses like that matter significantly 
less amazon does still have some advantages i mean   you could get almost anything from there and you 
probably can't get anything from any individual   but let's imagine it with facebook facebook 
made 71 billion dollars last year and their   chief export was you facebook is in the business 
of selling ads but if people were to say start   using bitcoin and cryptocurrencies and we continue 
developing the blockchain encryption technology   that we are currently developing then facebook 
wouldn't have the same body of information   that it does now you would be the person 
who owns your digital body and this is   why this technology has given me so much hope 
lately as shojana zobuff author of the age of   surveillance capitalism once said we didn't 
sleepwalk into dystopia we woke up in it   now blockchain may not end up being the world's 
most disruptive technology it's possible that it   could just be a technological integration instead 
for instance banks though not banks in america   i might add are already working on integrating 
the technology and whenever technology seems   to be disruptive it's more likely to get 
suppressed we at this exact moment in time   have enough renewable energy to power the world 
companies today would have a vested interest in   not letting this get too mainstream if you have 
bitcoin today you're probably considered a bit   edgy like on the forefront of technology 
not like edgy edgy but you get what i mean   but that's pretty much it for this video i have a 
discord server that you guys can follow i have a   twitter and a patreon links to all of those 
in the description thank you for watching heard of lines heard of lions i was doing so well you

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