Jack Mallers "Intro to Bitcoin" at Bitcoin Atlantis 2024

Good Shit jack, Really Overstood your Presentation

If what he says were true, surely we would know who created Bitcoin. The ledger is supposed to be able to keep track of who owes what to whom. So we should be able to travel back in time and know with certainty who mined the first Bitcoin Block. We should be able to know with certainty who mined the second and third etc. Why can't we look at the Bitcoin ledger and determine who created Bitcoin?

Amazing talk! Jack "The Baller" Maller nailed it.

Absolutely loved the explanation as someone who never really understood what Bitcoin is. Few questions though.

My thoughts which will lead to a question: Money is a universal currency that can be used to exchange goods and services, to skip several tens, hundreds or even thousands of barters to exchange something someone has but no longer needs with something they require for the future all while offering a universal good = money in exchange in amount that satisfies the person with the desired good to let go off keeping that item or agree to perform a service to someone they don't particularly know or trust.

Here's the kicker. Money is relatively stable, except for the devaluing part which incentivises people to trade often and not hoard the universal good. Bitcoin seems to me the exact opposite. Something people want to gather and keep as an investment so they can exchange it later in the future back to money with the hope of having kept this digital resource for it to grow in value.

My question:
If bitcoin becomes an actual currency, which you can use to trade for goods and services, wouldn't it devalue bitcoin similarly to current money?

If it starts losing value, less and less would be willing to accept it as a form of currency, as it would not be increasing in value then. Risk to work and material costs would be a lot higher, in the end you'd end up paying a lot more for the same goods or service than you would with regular money.

So holding it, essentially storing it, has no practical use, and the barrtering part will eventually become harder and harder. If it's a token valued at something, how is it any different than a rare coin, postmark, pokemon card etc except digital, that is not exactly rare and whoever wants it can get it from multiple sellers. It'd basically be a nail, screw, flower, or the current system, money.

So in my view you're damned for hoarding it if people suddenly don't value it and damned if you use it and it increases in value, unlike money, which you can safely bet on devaluing year by year.

Also, deregulated anything going to the masses that disrupts world order will surely get difficulties proposed on them, be it commercial drones becoming a hazard due to volume and disrupting air traffic, radio frequencies interfering with official essential communications or bitcoin volume disrupting world economy.

Essentially bitcoin seems like an apple, has the potential of becoming way more juicier as well as becoming rotten based on the arrow of time and the demand for it, supply is not working for it either, the more of it, the less it value should be.

So what's bitcoin's real world use? It's essentially a de-centrilized list of barters that as of right now behaves like a token, similar to a pokemon card. Everybody's gonna want to change it for money, or lets say at some point you can change it for goods and services much more easily, more verified suppliers are willing to accept it, what then? It's currently not stable and if it does become stable, all it will achieve is wealth transfer of individuals, who got in on it early and bankrupting the late aquiring people. The government and the people will not allow such a wealth transfer for sure because it disrupts the current world's foundation.

So once it stabilizes, wouldn't it become much like any other currency that the world doesn't fully operate around and once you want to exchange it for something, which you probably can, but would include severe currency concersion costs due to it becoming like any other parallel currency, that's not fast, just with the benefit of sketchy hard to track cash payments, just usable world wide. But pretty sure governments would love to use it for themselves, but will not allow it for regular economy.

Sorry for wandering off with my thoughts, I appreciate the 101, I think it's a good idea, but it kind of sounds like the fossil fuel to electric conversion, nuclear to wind or solar, self driving cars, flying cars etc, even housing is similar to bitcoin, supply gets bigger but prices increase above inflation. So while bitcoin has a good position on infrastructure, the users are low, the costs are high and the practicality of it currently is nearly non-existent.

World economy is built on money and oil, and nations need to control people's income before it reaches them. Bitcoin needs to provide more than hope or it could seriously hurt somebody, cause it's a paradox. You want collect it but at the same time get rid of it, similar to a kids came hot potato, where its fun until it isn't. Anyway, currently it's volatile as hell with near zero practical value, it's pretty much gambling, just with better more predictabld odds.

My rant's last question: why risk it? Most of it's value is due to the energy spent on it, but proof of work is even after 15 years still lacking. Kind of seems like building a house of cards outside in the wind.

This video have 31k vieuws now up to this point. 30k are from me

This was revelatory

Wonder if Satoshi sitting there to listen as well

A
MA
ZING

In the Netherlands nothing in censored even fbombs on the radio.

Nobody can explain to me HOW is it beneficial to me to have Bitcoin. Lets say I have 100 Bitcoin. OK, I have 100 Bitcoin, how is it beneficial to me. If I spend it then it IS just like any other money. I cant increase it unless I have actual money to buy it. I cant wrap my head around it besides the gamble of the price going up, what else is it good for. People are excited over Bitcoin itself but I am only excited over making money from it by the gamble of its price going up. I dont understand besides the gamble of the price going up, what else is it good for how do I use it to improve my daily life like normal "MONEY" ??????
WHAT AM I MISSING?

Jack Mallers has emotional intelligence and teach us his great vision and understanding. We need more

What i am wondering , if they have satoshi's emails , cant they use technology to look for patterns in the writing to narrow down who he is/was ?

Way too many F bombs for a professional lecture…

The thing every person on the planet needs to know to survive yet never taught in schools

"THE BEST EXPLANATION OF BITCOIN"

This guy reminds me of a really bad version of Christian Slater. Quite frankly, I don't think he knows Jack... At least not as much as Jack Dorsey does, that Jack is really in tune with himself, whereas this Jack is more like an obnoxious jackass.

Great conference. But saying fuck pulls away from the discussion. So much cussing is a distraction.

Great presentation ❤

i truly understand bitcoin now, mind blowing information 🤑

I do post comments very rarely but this video worth every penny

Chances Satoshi is in the crowd?

Hands down the greatest interpretation of Bitcoin I've ever heard. Brilliant!

A M A Z I N G
congrats to Jack Mallers and Der Gigi 👏

Jack is a potty mouth, not very professional

Great speech👍

This is freaking awesome Jack!!!❤❤❤❤❤

AWWWWWWWSOOOMMMMME!!!!!!!!!❤❤❤❤

This is fantastic. I may need to repeat watch this a few times to really appreciate the insights - thank you, Jack

F*cking legendary.

Great speech, Jack.
Well done

Why is Jack talking to the conference crowd like they are in preschool? Is this Sesame Street?

Excellent speaker, amazing explanation, great event.

Nice video and thank you for breaking it down!! I still see cryptocurrency as one of the best digital investment and i totally love the technology. As a trader, I'm so glad. I can smile back at my portfolio of $66,700 made from my weekly trade within a short period. I feel one of the greatest challenges that we first timers face in the market is that we end up losing all we have, making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Angielyn Babierra❤

Pretty good speaker, but focused on technicals only. Not what money actually is. Turned him off when he called Solana a shitcoin. He lost all credibility right then and there.

Brilliant

This was amazing.

Hands down one of the best keynotes for introducing people to bitcoin. I love this guy

Thanks this was great

The APEX presentation/explanation of BTC ever… Thank you Jack for this astonishing work and brilliant execution!!! Satoshi, wherever he might be, should be very proud!!! 👊🏼😎⚡️

EXCELLENT. This has to be shared. This should be a part of every course explaining bitcoin. True bitcoin 101.

My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to take risks. Saving is great but taking risks puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to Queridafx, my portolio is doing really great and im proud of the decisions i made last year.

somebody, send this to Warrens (Buffet, Elizabeth)

love Jack and great talk, but the amount of adverts on this vid is taking the piss!

Awesome presentation!!

Too many ads. Way too many.