Bitcoin Forum

https://www.youtube.com/watch?v=iFDe5kUUyT0

No further comments!!!!

Your welcome :)
I just discovered it as well and sent it to everyone I know :)

Ah if this along the lines of the american dream but not pitched at 8 year old's awesome.

Not ragging on the american dream was a very good eye opener from many including me.

What is the American dream?  ;)

Give me a second to find it.

Edit: ow wait didn't see the winky smiley dammit.  ;D

Well posting anyway for those of us that prefer cartoons  ;D

https://www.youtube.com/watch?v=tGk5ioEXlIM

Or this :  not sure which I prefer

http://fc04.deviantart.net/fs70/f/2012/185/4/7/the_american_dream__girl__by_z20ina22-d55wqhc.jpg

Disclaimer: Still not found time to watch the OP vid so dam busy atm.

I think I prefer your version of captain America  ;D ;D ;D ;D ;D

Much nice, real better  ;D

Nice! Great dummies' guide to the banking system

Thing is... at a guess.. and while I'm pulling this statistic out my ass 90% of this forum know all this (hopefully).

Its the other 6,999,000,000 people that have not seen that video that need to see it.

Again guessing at a 7 bil population and god knows how many of them just care about when they can eat next or find clean drinking water. :(

Ow the joy of the information age where the more you know the more you don't want to get up in the morning.

They should teach this sh!t in school!

I've been looking for just such an explanation to share with others.

Why would they? And why do parents rely so much on school?

I am sure they do, that's why they chose Bitcoin ;)



To be honest, I have been looking for it too :)
Most people argue with me about BTC, I now have the tools to shut them up without wasting my breath ;)



I agree with you both.
They should teach this shit in school, but they won't.
They want their future slaves to know only what they tell them.

And yes, it is the parents job to properly educate their children.
And we are talking about their freedom here.

I used to recommend buying bitcoins to friends and relatives when bitcoin was in the 25 to 100 USD range, but at current prices I don't bother anymore.

That's one more of a reason to tell them:
I TOLD YOU SO!!!!
You can still get in before it goes over $1000 again ;)

good video,  but be careful, btc is not for everyone, especially ones with weak heart.

That is very true.
I have lost MANY money from selling coins to soon in my begining as a Bitcoiner due to the fact that I was impatient.
Patience is a virtue.

EDIT: I wish I never done that, I could have had ALOT of money now, instead I got jack shit  :-\

Good video, but sadly a lot of the gold bugs that enjoy watching such videos are fiercely against Bitcoin, which I personally have never understood as I love both gold AND bitcoin, they both have their strengths in this modern internet wireless age.

Wouldn't the world be a better place if we only traded in Bitcoin and Gold Bitcoin pieces?  ;D

at my school they did, and i guess other schools do that as well!

They teach things about bonds and money, how it is just created as numbers in banks - at least at my school they did!
It was not called "bad" and it was not about the slavery behind it, but it revealed the process of how money is working, and how banks can create "bank money" for loans.

An example that i remember from school was:
"If you go to a bank to get a loan of 500 000 to buy an house, the bank did not to have these 500 000. Its enough that the bank got the house as leverege, so the bank can create the money for the leverge as called "bank money"."

I did not remember which class that was but i guess it was "oberstufe" like the germans call it.

So schools doesn't seem to be that bad at all :)

(Sry for my bad english, but i guess i missed some classes there, in school english doesn't seems to be that important at all XD)

I am guessing you didn't go to school in the U.S. right?
Me neither btw, just asking.

Wow. You're so wrong.

If you go to a bank to get a loan of 500 000 to buy a house, the bank needs to give 500 000 of REAL MONEY to whomever you are buying the house from. I'll try to simplify this. The bank gets this from deposits at the bank. Say 10 people come in and deposit 100 000 each. The bank has 1 000 000. The bank gives the seller of the house 500 000, in exchange for the buyer to pay the bank back over 30 years. The bank owns 500 000 in cash and a 500 000 asset. So, if all 10 people who deposited 100 000 come back for their money, they can't get it - the bank only has half that - 50 000 for each person. This is where people say a bank doesn't hold all the money people deposit, so if there is a run on the bank, they can't pay out immediately.

The banks determine how much cash they need on hand so that normal deposits / withdrawals can take place. This might be as low as 1% - they only need $10 000 on hand. So they use the other $490 000 to invest in stocks/bonds, etc. When the bank is TOO risky with it's investments, it loses the capital (part of the $990 000 it invested / lent out), then it CAN'T pay back depositors immediately (and if they ask for all their money back, the bank becomes insolvent).

But the bank doesn't just create 'bank money' out of thin air. The government creates money out of thin air (by selling bonds) but not banks. The bank might say '$1 000 000 in deposits' but actually only have $10 000 in their cash ledger. But adding up all the other assets / investments, the bank should have MORE than $1 000 000, which is where they generate their profits.

Banks which 'cheat' have their CEOs and upper management steal/take/embezzel money from the original $1 000 000, similar to what Mt. Gox might have done.

After watching the video, I can conclude that this is insufficient to convenience an average joe to use bitcoin
You still need to explain the details of bitcoins to them and counter all the FUD the media has been making

But this video is a good comeback against "I rather believe in USD because it is backed by the government" and "its a Ponzi scheme"

Yes, although prices in the $600 are probably cheap in comparison to what we will see in a few years from now, it is still too high of an entry point for a lot of first time investors.   They may be better off getting their feet wet with LTC first...and maybe a couple BTC if they can afford.

Would you rather buy a dummy Rolex or a real one?

This video is to show that Bitcoin is more trustworthy than fiat currency, period.

too high of an entry point? Just buy less BTC.
At $600 a piece we can now mainly trade with mBTC, when it gets higher we might trade with nano BTC.
The current price is not what matters, it's all about if it will rise or fall.

That will still go over the heads of many Americans...  Sadly.

I saw this video before and I just enjoyed watching it again. I went to school in the 80'ies and somehow I got the impression that banks lend out only the money that people deposit into their savings account. I don't know if this was something I just assumed because it would be the logical thing, or if they actually told us this in school. Any of you guys remember?

I saw this and the whole series quite some time ago.  Now, I get why Bitcoin having a limit to the amount that can be created is ideal over a currency that can be printed at will.  Here's what I still don't get:

How does Bitcoin help everyone else who doesn't have Bitcoin?  How is Bitcoin supposed to replace fiat, if everyone can't get it and in order to get it, they have to buy it with fiat? 

this is a problem if we ever want to move to a new currency.
Unless we all decide to donate our coins to the public for the sake of market liquidity, which will increases the rest of our coins value ALOT. But then there's the free rider problem, where some people will keep their coins instead just to get even bigger slice of wealth, and this is totally uncontrollable for such decentralized currency.

ill show it to my frnds :v

Yup...well I ask because the thread title says, "show them this" and I don't see how that makes a full case for Bitcoin, aside from avoiding fiat that can be created from thin air.  In addition to my previous questions, Bitcoin also doesn't prevent fractional reserve banking, which is our biggest problem. So, I'm just looking for resolve on this because it's the one thing in the year I've been at this, that I can't reconcile. I send this video to someone and make the case for Bitcoin how?  How do I explain how Bitcoin solves all the issues presented?  Does Bitcoin actually solve them and if so, how?

Nice! I'll put this link in my facebook to encourage my friends!

You have a very strong point.
Showing your friends this will make them understand the flaws of fiat currency, but it doesn't make any mention of BTC or how BTC does not carry those flaws.

Please allow me some time as I am at work now.
When I get home I will gather whatever useful info I can find so you can send it together with this video :)

Really interesting info, thanks for sharing this to us.

Thanks, I'll be looking forward to it. 

OK, start with this: http://www.youtube.com/watch?v=V-3haBibXWc

Many thanks to CoinLearn for his post: https://bitcointalk.org/index.php?topic=512096.0

I will add more as we go.

If you have something to add please do so.
Thank you :)

Thanks for the video.  This however is nothing more than a Bitcoin promotional video.  Good for those purposes but this does nothing to answer the questions as to how Bitcoin solves the issues and challenges addressed in the original video you posted.  I think that it's good for people to see how the system works but why buy Bitcoin, if it doesn't solve the issues of that system?  That's the question I would ask, if you sent me the original video as an attempt to get me into Bitcoin.  This promo video would still leave me without answers.

Tons of videos like that on the web, conspiracy video, nothing more. Everything is wrong.

OK, I have finished work, but to be honest I am a bit tired to gather all the info BUT...
BTC is created by miners just like GOLD, so it doesn't just appear out of nowhere,
BTC is not centralized and not one government or entity can claim that they own BTC,
BTC can not be double spent and it cannot be given with blank promises (cheques, etc).

There is much more that I want to add, but to be honest bro, right now I am so tired that I just want to browse the forums for a bit and maybe even play a game of Pilotta or Belotte for most.

Don't get me wrong, you do have a point and I MUST provide the right answers but right now I can't be bothered.

I will get to it ASAP.
I promise.
But it is not going to be tonight....

thank you for sharing this video

No worries man, I've waited a year...a little longer won't hurt.   ;D  As I said earlier, I get the "printing" aspect but we have so many challenges that go far beyond creating money out of thin air.  I'm actually surprised no one else seems to have any answers either.  ???  I'll keep my eyes open for your updates.  Thanks bro.

after watching this video, i feel ashamed wanting the bitcoin price go up just so i can dump it for dollars and use it. i really hope someday bitcoin can be ultimately accepted anywhere.

More info about BTC: https://bitcointalk.org/index.php?topic=509725.0

Will try and add more later :)

Thanks, I'll go through these today and see if I can find what I'm looking for.

bitcoin is:
1. Scarce
2. Durable
3. Portable
4. Divisible
5. Impossible to counterfeit
6. Fungible ( any 1 BTC has the same value as any other )
7. Easy to keep safe ( contrary to popular belief, it easy to print out a paper wallet...)
8. Shiny ( yes the digital bits that make up a bitcoin are VERY shiny)
9. all of the above. + very shiny

Fiat is:
1. Definitely not  Scarce, ( mage inflation in the money supply is monumental )
2. Not Durable
3. NOT Portable... compare it to bitcoin, ( try sending 1 million dollars across the globe, try sending 10 cents. then try again but with bitcoin AHhhhh you starting to get it now eh )
5.  Impossible to counterfeit LMAO
6. Fungible... ya maybe...
7. Easy to keep safe? ya all it requires is huge banks, and even then....  the only reason it works is the fact the government has no problem printing (out of thin air ITS MAGIC!) as much money as they need to be solvent any time they need it, you do know what a bailout is right?
8. Shiny? Its has cocaine all over it so no... not shiny
the only thing that fiat  has going for it is that its widely accepted, for now!


I borrowed this from: https://bitcointalk.org/index.php?topic=515414.msg5694208#msg5694208

It would be unfair not to add these:

https://www.youtube.com/watch?v=reo7WbibxaQ
https://www.youtube.com/watch?v=FV_kP91hJ7g

Great, hope my friends will like it and won't treat it like propaganda

I wonder how many people watched the video and heeded it in 2014......

i m newbie and i just see that video. nice one. good video thank you