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Author Topic: A rubbish video from Stanford university  (Read 346 times)
Jet Cash
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December 29, 2015, 03:24:06 PM
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https://www.youtube.com/watch?v=JhdM4_iRHyE

This is a talk by a university professor entitled "The Economics of Bitcoin & Virtual Currency". In it she describes Bitcoin as a spreadsheet, states that Bitcoin is the first virtual asset (hasn't she heard of domain names?), and regards it simply as a means of transferring fiat currencies. It's dated June 2015, so it must reflect current thinking. If her ideas are prevalent, then we have a wonderful future in the world of Bitcoin.

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AtheistAKASaneBrain
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December 29, 2015, 03:28:31 PM
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https://www.youtube.com/watch?v=JhdM4_iRHyE

This is a talk by a university professor entitled "The Economics of Bitcoin & Virtual Currency". In it she describes Bitcoin as a spreadsheet, states that Bitcoin is the first virtual asset (hasn't she heard of domain names?), and regards it simply as a means of transferring fiat currencies. It's dated June 2015, so it must reflect current thinking. If her ideas are prevalent, then we have a wonderful future in the world of Bitcoin.

Bitcoin is indeed right now, mostly a way of moving fiat money, because unfortunately the amount of merchants accepting Bitcoin in exchange of actual goods and services is minimum right now, but obviously in the future this will change. Also she doesn't get all the other implementations Bitcoin can have.
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December 29, 2015, 03:33:28 PM
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Moving fiat currency is a secondary task for Bitcoin. It requires additional services to complete the transfer.

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AtheistAKASaneBrain
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December 29, 2015, 03:40:12 PM
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Moving fiat currency is a secondary task for Bitcoin. It requires additional services to complete the transfer.

Im trying to speak in pragmatic terms as in how the end user would feel Bitcoin does. And right now, im afraid the end user, that's the average joe that may be interested, is going to use it to move funds from A to B. Of course, there are lots of holders too, but you get my point (hopefully)
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December 29, 2015, 03:59:16 PM
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https://www.youtube.com/watch?v=JhdM4_iRHyE

This is a talk by a university professor entitled "The Economics of Bitcoin & Virtual Currency". In it she describes Bitcoin as a spreadsheet, states that Bitcoin is the first virtual asset (hasn't she heard of domain names?), and regards it simply as a means of transferring fiat currencies. It's dated June 2015, so it must reflect current thinking. If her ideas are prevalent, then we have a wonderful future in the world of Bitcoin.

Bitcoin is indeed right now, mostly a way of moving fiat money, because unfortunately the amount of merchants accepting Bitcoin in exchange of actual goods and services is minimum right now, but obviously in the future this will change. Also she doesn't get all the other implementations Bitcoin can have.

I think the main purpose is still that people consider Bitcoin to be an investment. That's why a lot people are using it as such. Everything takes time. At some point it will be used more as currency.

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December 29, 2015, 08:35:41 PM
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https://www.youtube.com/watch?v=JhdM4_iRHyE

This is a talk by a university professor entitled "The Economics of Bitcoin & Virtual Currency". In it she describes Bitcoin as a spreadsheet, states that Bitcoin is the first virtual asset (hasn't she heard of domain names?), and regards it simply as a means of transferring fiat currencies. It's dated June 2015, so it must reflect current thinking. If her ideas are prevalent, then we have a wonderful future in the world of Bitcoin.

Well she also says "ledger" right after using spreadsheet. Its commonly used to describe the blockchain. I recently learned the word journal[1] might be a more fitting description though. There are many issues with the technical details in her explanations, the intro clearly stated that its not about how bitcoin actually works, but rather what it can be used for.

She gives a fairly high level and rough explanation of how bitcoin works in order to get to the points that are important to her.

# Fast transfer of value across the world without the need of an authority figure
# possibly replace SWIFT with a digital currency system like RIPPLE (shes biased, because involved)
# split checks without using cash by transfering small amounts among friends (e.g. via smartphones)
# remittances with lower fees and without or with very low exchange rate risks
# programmable payments
# escrow for small amounts

I dont think its that horrible if you consider the audience.

[1] https://en.wikipedia.org/wiki/Journal_entry

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December 29, 2015, 08:55:52 PM
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you def wouldnt call her presentation style exciting, usually i get excited watching Bitcoin talks, she would put me to sleep.  

sounds like she hasn't a clue how the banking system actually works either "BOA have lent out 95% of the money in your account to someone else"  a no they dont lend money they create new money out of thin air and expect interest paid in return.
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December 29, 2015, 09:00:17 PM
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She is not really technical ,neither she has any idea how exactly the bitcoins works as she kept insisting this technology instead of what actually is the technology.The talk is more inclined towards the business side of the market she did to pass her grades and not actually with some good intentions to promote bitcoins or show its adverse effects .

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