Andreas M. Antonopoulos warns on a revolution that happens under the surface – revolution in cryptography that have gave birth to a blockchain idea and Bitcoin as it’s first successful implementation.

The Owls are not what they seem… nor are the rats. Nor is the World. If you thought that tough Central control can create impenetrable security, think again.

In this whimsical security analysis of the open, public and decentralized bitcoin system, compared to the closed, proprietary and centralized alternatives, Andreas will explain to all of us, why highly centralized systems are doomed. A New World is coming in which there’s no place for totalitarianism!

October 11th, 2015. (Duration 52m:11s)

00:00 Parenthood, bubble boy & mudcakes
04:00 Implications at security
04:45 Concept of Permissioned Ledgers and Isolated Blockchains
07:30 Big Banks and Big Corporations “contribution” to IT Security – DMZs
08:00 Deployement of a “holes”
08:55 Illusion of Security of “Isolated Environments”
09:53 Problem with Bubbles – can't make business in a Bubble
11:30 New generation of open business learn to live in the open Internet
12:50 Bitcoin is a swarm of sewer rats!
14:45 Banks prepare Bubble Boy Blockchains…
15:47 Third stage in a five stages of grief: Bargaining
17:00 25 years of learning wrong things
18:00 Leaking panopticons
23:00 Security is a process
24:20 Question: What prevents Banks of using Open Source code?
26:09 Sidechains
29:00 Diversified World
30:10 Several implementation
32:10 Question of competence: iOS vs Android
34:40 Robustness in the Environment of stimulus
36:25 Illusion of control
37:40 Question: How effective are attacks on Bitcoin?
38:40 Bitcoin’s unique advantage – two years headstart grace period
39:45 Laughing at the lemonade stands
40:55 42 coin
42:12 Hey, how about open source your code?
43:25 Question: How do sewer rats get power?
44:44 When the dinosaur see the meteor…
47:25 Enigma and the timescale of breaking cryptography

And if you don’t care for Bitcoin and love Steem, then be sure to check Bubble Mammoth and Sewer Rat 😊

From now on, we are going to measure Bitcoin to the controlled, but closest safe asset in a material world – Gold.

June 4th, 2017. 6:48 CET
Xe.com: BTC to Gold Ounce
1 BTC = 1.93762 oz