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Bitcoin Q&A: Price volatility and store-of-value

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Does price volatility negatively impact bitcoin's use as a store of value? What contributes to volatility? Are there cartels in the cryptocurrency markets, manipulating prices? Why did so many people buy into bitcoin at the end of 2017? These questions were part of the monthly live Patreon Q&A session on March 31st. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop RELATED: Price volatility, pegging, and stability - https://youtu.be/9KPyflyHP6s From barter to abstract money - https://youtu.be/KYsppZoHguQ Bitcoin as everyday currency - https://youtu.be/xYvvSV4mjH0 Wallet design and mass adoption - https://youtu.be/WbZX6BDZJHc Decentralised exchanges and counterparty risk - https://youtu.be/hi_jaw0dT9M Inflation and debt systems - https://youtu.be/6CwxHiKf27A Geopolitics and state-sponsored attacks - https://youtu.be/htxPRTJLK-k HODLing and the "get free" scheme - https://youtu.be/MhOwmsW1YNI The Internet of Money: Five Yeas Later - https://youtu.be/6xIq0FdmsIA Beyond Price: Bitcoin's Impact on the Future - https://youtu.be/rvwVbRQ5Ysc The Killer App: Engineering the Properties of Money - https://youtu.be/MxIrc1rxhyI Blockchain vs. Bullshit: Thoughts on the Future of Money - https://youtu.be/SMEOKDVXlUo Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin. Follow on Twitter: @aantonop https://twitter.com/aantonop Website: https://antonopoulos.com/ 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. THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8 [NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8 MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042 [NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388 Subscribe to the channel to learn more about Bitcoin & open blockchains! Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/) Outro Graphics: Phneep (http://www.phneep.com/) Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
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Text Comments (71)
kaos092 (3 months ago)
There has been no huge correction in tech stocks. Everything is still climbing.
michael bonacci (4 months ago)
Thanks for all the knowledge and content you bring to the community! I know you shy away from price predictions and ICO's but what are your thoughts on niche projects like muirfield IP for real state and fr8network and cargocoin for shipping? Overall, you think the precise projects will create healthy competition?
João Salvador (5 months ago)
very nice
dajosova (5 months ago)
these videos use PoA* algorithm *Proof of Antonopoulos
John Bostick (5 months ago)
The man, the myth, the legend!!
Paul Amery (5 months ago)
More thoughts on bitcoin's price volatility and its use as a store of value https://www.newmoneyreview.com/index.php/2018/06/07/bitcoin-volatility-falls-70-since-january/
Pierre O (5 months ago)
Don't worry about the bashing.. you're still the most respected speaker in this sphere.. by far.
Daniel Wijaya (5 months ago)
Hello Andreas can you explain, why there are many debate on bitcoin (BTC) vs Bitcoin Cash (BCH), and what is your position on these issue?
William Boyle (5 months ago)
If you are planning to preserve wealth, volatility should be irrelevant. As long as the general trend is up or flat, who cares?
Ian Prado (5 months ago)
Hi Andreas, I'm studying android development and I was wondering if you could share some interesting open source projects out there for android app developers. Also, I have a Nexus 5 as well if you still have yours.
Love you Andreas
狼爸爸的工作室 (5 months ago)
Wat? r u saying i shouldn't predict bitcoin priced base on zodiac?? shit, maybe i've been doin this wrong :(
Lucas Gardezani Abduch (5 months ago)
great video as usual, thx a lot for sharing your ideas!
Splut Bets (5 months ago)
Love you Andy
mpolavieja (5 months ago)
Speculation does not make Bitcoin more volatile, it is in fact the opposite. Without the liquidity of speculators, Bitcoin volatility would be much higher at this point. Speculation is akin to anticipating future uses of Bitcoin, therefore it anticipates its future price and stability.
mpolavieja (5 months ago)
The lack of speculators taking short positions letting the price go too high and too quickly is one of the main sources of volatility (first upwards and then violent corrections). And it is more than reasonable that speculators do not want to take short positions in an asset with such an assimetric upside potential. Speculation is not the cause but the cure for price volatility.
Mohsen (5 months ago)
It's amazing how much he is on the right side of everything!
Heinz Schumacher (5 months ago)
When Volatility all the time is more up then down all is good.
Crypto Conversations (5 months ago)
Love it...
osanemet (5 months ago)
I noticed Gold and other commodities that are considered store of value for hedging now, were and some still seem very volatile short term as well. Long term is what matters. If you care about the volatility then you should be a day trader and in that case you should love it.
patrick cowan (5 months ago)
One unlike,Roger Ver watched this
Jack (5 months ago)
What is all about BTC against BCH war?
Jack (5 months ago)
Manu Foy Thanks! As I see both are good tech then. Maybe there is room for both of them.
Seagull Australis (5 months ago)
Different visions. Different principals. Different views. Those involved in BTC think scaling should happen off-chain, and that the maximum block size should remain capped at 1MB allow as many people as possible to run their own node and to prevent the Bitcoin Core reference client operating across a split chain. They often believe that SPV wallets are insufficient. They believe that BCH is run by Bitmain, that BCH not including SegWit was done for the specifically to have ASICBoost remain. They believe that the Lightning Network is the solution to scaling, and that there is either no problem with routing in the Lightning Network or that the routing problem in the Lightning Network will be solved. They believe that transactions should be made cheaper by having them moved off of the blockchain. They believe that the Lightning Network will remain decentralised. They often believe that Bitcoin is a store-of-value. They believe that non-miners running the client software storing and validating a full copy of the blockchain have some sort of authority. These people believe that BCH is trying to steal the Bitcoin name and that BTC is the 'original bitcoin'. Those involved in BCH think scaling should should happen on-chain, and that is to be done by raising the block size, rather than off-chain solutions. That hard-forking is not an issue in the slightest and a perfectly valid method of upgrading the network. That we shouldn't rely on one piece of client software, but rather have multiple pieces of software using the same protocol and competing with each other. They believe that there is no need for individuals to be running their nodes and that SPV wallets are more than secure enough. They believe that the Lightning Network is not a scaling solution, that routing is unsolved and that the end users would not be able to run the travelling sales man problem required to route a payment, and there is no solution to this. They believe that the Lightning Network will centralise into hubs (and end up looking very similar to the traditional banking system), and/or that the Lightning Network will not work. They often believe that a SegWit transaction is not a Bitcoin transaction transaction by definition. They believe that Bitcoin is not a store-of-value, and was never a store-of-value, but rather it was intended to be money. They often believe that Bitcoin Core (the reference client) has had it's development corrupted by Blockstream (which develops side-chains and largely invested in off-chain solutions), and that there is a conflict of interest with Blockstream employing, paying, and being founded by Bitcoin Core developers. They believe that non-miners running the client software storing and validating a full copy of the blockchain have don't have authority whatsoever, but rather only the miners have authority. These people believe that BCH is closer to what Bitcoin originally was, and better represents the white paper and the specifications of Bitcoin. I'm trying to be as fair as I possibly can be here, and I'm trying to misrepresent any side here. Everyone has their biases however, and personally, I side with the BCH fork. This topic is extremely polarising, as both sides have views and principals which are near opposite to each other. Also, if anyone sees this and thinks I misrepresented anyone, please point that out. What I have said here does contain generalisations, but my intention is not to misrepresent the views of anyone in this polarising topic.
Peter Petrov (5 months ago)
As long as developers are working on lowering the fees and increasing tps, I'm not worried.
elys glassart (5 months ago)
I travel to my country evry year and i buy gifts for everyone and always it is wrong color or wrong size or they just don't like it, so this year i am going to give everybody some crypto ,
Eli Sabayev (5 months ago)
not just amazing content but comes with humor too! Love it!
phillip (5 months ago)
1:14 got me chuckling hahahahah
atawoo2 (5 months ago)
Sound quality is fantastic. Amazing job as usual Andreas, thank you!
Chester Copperpot (5 months ago)
Whales buying and selling along with guppies is called a free market. Not to say those whales didn’t acquire their fiat wealth to buy bitcoin through a rigged inflationary system
chilix vibe (5 months ago)
Btc to 3000?
McLauv1n (5 months ago)
Always a like from me! Thank you for sharing your wealth of knowledge! I try to watch every video and sometimes I need to watch it 2 or 3 times before I understand some of the new information!
Henry Reign (5 months ago)
Can bitcoin be seen as a good hedge against crisis? Country A and B go to war -> Bitcoin will survive regardless of who wins and who loses.
W4sabiNinja (5 months ago)
Bitcoin isn't volatile, the dollar is.
chrisiden (4 months ago)
Ca$h is Tra$h just like B-Ca$h
João Salvador (5 months ago)
hazirafel (5 months ago)
I think bitcoin price IS manipulated (by stuff like Goldman Sachs and deep state) , and I thought it was while it was going up as well as down. I'm not saying it's not natural it's going up and down but it's also messed with in my opinion.
NewZero (5 months ago)
I've watched every single one of your videos. Literally.
Daniel Rojas (5 months ago)
If you want to support Andreas, please go to his patreon page! You can start for as little as $5 per month! His content is amazing. I salute you, Andreas!
A. X (5 months ago)
Salute you too Daniel! Thanks for spreading the word!
VentionMGTOW (5 months ago)
Nice one! I'm an old Prepper / Silver stacker, sick of the insanely huge scams that the IRS, Federal reserve, and Social Security (among others) have been playing on us all our lives. In the past I satisfied my anger by ramping down my spending, paying down the mortgage on my old condo and stacking silver. Every time a dollar changes hands the local government takes 10% from you and the feds take about 20 or 30% from the person you hand it over to. It's such a heavy load that sucks the life out of everyone and I'm sick of it. Living a frugal lifestyle is one way to slow the velocity of money and decrease the amount of your energy that you're contributing to their system. I've been lucky. Here in my state you can buy silver without sales tax. It's just considered to be another kind of money, so all I'd pay is the markup the coin shop charges and I could turn my cash into silver. Then I found bitcoin. It's every bit as awesome as silver but a lot lighter and more useful as a currency, so I started stacking bitcoin. At the peak of the bitcoin price I might have been able to retire early (but it would have been tight even with my frugal lifestyle) so kept my diesel mechanic job and I've been continuing to stack bitcoin. I live comfortably on 35% of my take home pay, leaving about 2800 a month in surplus income. I typically dump 1000 usd into bitcoin every paycheck, buying more as the price drops. Then eventually during the next bull run I may consider an early retirement once again. When I do retire I'll sell my paid off house and relocate to a nice rural area, grow a big garden and my spending will be almost zero. I'll look into trading my mechanic skills for locally produced goods, eggs, meat, fruit, ect. And the amounts of btc I have to cash in to fund my medical insurance and my modest needs will be so low that (at the long term capital gain tax rate) I'll barely be paying any taxes at all. Today is my Saturday. I'm replacing the water pump in my car. It's a transverse mounted engine with the timing belt cover right up against the passenger side fender and it's a pain in the butt but if I do it myself I don't have to pay a ton of taxes that inflate the prices of automotive mechanic shops to such a crazy high level. Every time you hold onto a dollar rather than spending it, it makes you stronger and takes power away from the elites.
James Thomas (5 months ago)
Best info always. Thank you A.A.
Truth or Lies (5 months ago)
Love you child of Greece! Thank you for giving me confidence in crypto!
Statistically Challenged (5 months ago)
Quality as always, thank you for being here for the crypto community.
D B (5 months ago)
I dont mean to get biblical but you are the "moses" of crypto!
PassFissn (5 months ago)
Do you ever sound excited Andreas ?
Joel Nogueira (5 months ago)
Andreas my question is about those 2 billion people who doesn't have any banking access. How are they entering the bitcoin community if they don't have that? Most of the crypto exchanges use credit cards or wire transfers to exchange fiat to crypto. How can these unbanked people buy Bitcoin? Will be there enough ATM Bitcoin machines to exchange printed money to Bitcoin? Here in Switzerland our railway ticket machine can exchange Swiss francs to a Bitcoin smartphone wallet. No need for banks. But what about less developed country's? Cheers.
Mandos (5 months ago)
Gentleman and a scholar you are Andreas, Leventi mas!
A. X (5 months ago)
Avgolemono kai Spanakopita. Feta me ladi. Keftedakia. Galaktobouriko kai Kafedaki. Not now, but as soon as next pump.
William Umelo (5 months ago)
Bhavin Patel (5 months ago)
Jist brilliant.
dogecoin digger (5 months ago)
Good talk as usual. Thanks
vegas23 (5 months ago)
Idk how or why your channel doesn't get more views considering how well known you are and how much we all love you! Not to mention you know more than 99% of the people in crypto. Your a no bullshit type of guy and we all appreciate that! Just keep being you man your my favorite person to follow, watch & learn from. Your the true Bitcoin Jesus my friend! Cheers!
Marina Heartcrypto (5 months ago)
Thank you Andreas for sharing your knowledge and wisdom about the crypto space. By far, and hands down the top educator. Keep up the great work! 👏🏻👏🏻👏🏻🥇🌟
Marina Heartcrypto (5 months ago)
Thank you Andreas for sharing your knowledge and wisdom about the crypto space. By far, and hands down the top educator. Keep up the great work! 👏🏻👏🏻👏🏻🥇🌟
Eplemos4Life (5 months ago)
Marina Heartcrypto 2
Fabrice Manzo (5 months ago)
Joel Nogueira (5 months ago)
I see Bitcoin as general solution on the financial market. I see Bitcoin as an investment, a global currency, a payment method, internet money, store of value and even a trading stock... I see bitcoin being the next logical revolutionary step in this financial world. Thank you Andreas.
nion456789 (5 months ago)
Smashed the like.....
chrisiden (4 months ago)
i Sma$hed it twice and then had to smash it again!!!
marloesje (5 months ago)
I've learned more from you than I've learned from many of my university professors.
vegas23 (5 months ago)
People have no clue how much they can really learn from him if they follow him and listen to everything he has to say. Professors were late to the game but he has been here from mostly the beginning. His knowledge is insane and I love his personality. He seems to always have the right answer and can back up that answer. He saved his mother from losing everything and truly cares for the people in crypto. He also has the best answer in my mind about if bitcoin is or was a bubble. His answer is everything is a bubble and short term btc was a bubble but since had a healthy correction to now lead to all time highs. Brilliant mind he is
Rafael Guzman (5 months ago)
If I want to be a bitcoin developer, where do I start?
atawoo2 (5 months ago)
Ivan is very noobie friendly, he has a lot of academic type code examples, good to start with, Jimmy has more coding experience because he has done Bitcoin dev work and just been working in software longer. Pick one based on your experience level, work up to doing commits on projects etc. (working up might take years depending if you have a background or not. This stuff is hard, its okay that's why we do it.)
A. X (5 months ago)
I know @IvanonTech here on YouTube often speaks on this as well as offers a course. I would double @Jason Hester recommendation of @JimmySong as well, and i would suspect that as an actual contributor to the Bitcoin Protocol himself, @JimmySong will undoubtedly have a treasure of knowledge to share
J H (5 months ago)
atawoo2 (5 months ago)
Andreas' book, learn python or C++ look at github projects. Just please don't ICO dear god please no.
J H (5 months ago)
Jimmy Song seminars Jameson Lopp resources etc
carlos sanchez (5 months ago)
What’s your thoughts on bth ?

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