Good afternoon. Welcome to the introduction to social annotation and secondary education session. My name is Lori Buckin and I'll be your hypothesis tour guide for the afternoon. So, invitation, what is it, what's brought us all here today. The first thing that we like to do is use this quote, that's a favorite of our VP education Jeremy Dean. We have all seized the white perimeter as our own and reached for a pen if only to show, we did not just lays in an armchair turning pages, we pressed a thought into the wayside planted an impression along the bird just from Billy Collins marginalia. And this really speaks to what annotation is what is annotation it's it's we're making our mark we're thinking critically about what we've just read, we're being an active participant with the content. We're thinking with those who've read before and who will read in the future the same content. It's an age old scholarly practice from pretty much from the time that books were invented scholars students and everyday readers have been annotating in the margins of books. It makes us better readers. It makes us more attentive and helps to build our understanding. So, when books and other assigned readings moved online, we lost that practice and learn this essential skill with hypothesis, when hypothesis is active on a page. It allows you to do annotation it allows you to select text and add in an annotation. It allows you to reply to any annotation that's been made. It allows you to do the ability to start those conversations in the margins again. How does hypothesis work in teaching and learning. Well hypothesis makes reading active as you can see here Sarah gross from high technology high school has provided some feedback hypothesis enables my students to contribute to the conversation whether they're frequent class participants, or the type that like to sit back and think about responding. I can't call on every student but by annotating together we can all join the conversation. Using hypothesis it allows all the students to contribute, as she said it can be those that are extroverted, who, you know, in class would normally be the first ones to answer a question. They can still do that, but it also allows those quieter more introverted students the ones who have to think a little bit, also have their opportunity to comment. This is an example of an exercise where the instructor asked students to annotate using current means. So it became this really fun interactive discussion around, why do you think that that mean relates to this piece in the, in the assignment. So they're really great creative ways to be using hypothesis and helping to make reading active for students in your plans. So hypothesis also makes reading visible to you and also to the students and to their colleagues, or their, their co students. As you can see here a student said one of their student feedback was I loved using hypothesis to annotate class readings. It was especially helpful when annotating with my classmates, because they made extremely insightful comments that made me think more critically about the language. And that really is what we want students to do when they're using when they're annotating and, and reading, we want them to think about what they've read we want to want them to consider other students insights and help them sort of broaden their own horizons. Hypothesis also makes reading social students can really grasp on to this part of the end of annotation because they're no longer alone, while they read. They are reading together, and it helps them to feel connected and engaged. They currently right now in, you know, in, in everyday life. This is what they do they're inside of games they're online and they're talking to, you know, their, their colleagues and their friends inside of these games right on top of the game that they're playing and this really mimics that it allows them to start those conversations on top of the, the content that they're engaging with. The same as we said earlier, both introverts and extroverts those who are quick to answer and those who need a little time to think. All individuals can contribute and it allows them that time to process and, and, and not feel like they're under the gun and having to feeling too shy to put their ideas out there. And I think the person Sarenzia from St. George's school says, I'll have students who don't like to speak in groups, but when they get into hypothesis, they're the ones driving the conversation. They drive discourse, and they'll have all of their peers jumping on to comment and engage in ways that just doesn't happen in classrooms. So what about hypothesis in your LMS hypothesis was developed, the hypothesis LMS app was developed based on feedback from educators. They didn't want to have to send students somewhere to create an account to have to log in to join a group or a classroom. And so what the LMS app allows them to do is to benefit from single sign on and automatic class rosters so as soon as a student logs into your, your school's learning management system whether it be blackboard or canvas or bright space, Google, Schoology, Sakai, as soon as they log into your class as long as you've set up the assignment with hypothesis enabled, they have access, and you'll be able to see their comments, be able to filter based on student names and also integrate with your grade book. And here's an example if you see on the far left, and we'll jump into demo of hypothesis just in a moment but this just gives you a quick overview when we take it when we're talking about grade book integration. On the far left you'll see the actual content so the reading that students were assigned in the middle is the hypothesis sidebar. So this is where they would make their annotations and add in their comments on each other's work, and where the discussion happens or the conversation happens and then to the far right is the grading toolbar. And so you'll be able to if you set it up as a graded assignment within your LMS. You would be able to scroll through and filter on a particular student name and be able to see any of the comments or any of the annotations that they've made. And then you can scroll back to the comment in context amongst the larger rest of the student population comments. So it allows you to take a look at their work and assign them a grade and then that will easily integrate into your grade book. So questions what can you annotate so you can annotate PDFs, you can annotate web pages and online articles, and you can what annotate open textbooks and OER content. And we are working very closely with a number of publishers so coming soon will be the ability to annotate on ebooks and textbooks. So if you can annotate what can you put in an annotation. So you can clearly do a text, you know, you use regular text when you're creating annotation, you can add in links. You can use images, you can add in videos, you can use tags, and we'll I'll show you a little bit about that when we jump into it in a minute. Students can use emojis. If you are math or science, and your students are familiar with latex, they can annotate using latex so they can actually annotate a mathematical document using the formulas, instead of trying to explain what they're what they're asking about. Again, coming soon are is the ability to annotate using voice thread h5p interactives and and much more as we go go through product development. So the hypothesis demo, let me take a moment. I'm going to move over here. We can't possibly show you all LMS is in one one sitting but what I'm showing you today is campus that just seems to be one of the more popular LMS is but really the experience once you get inside of your own LMS and we set this up the experience of hypothesis is virtually the same. It really where it differs is in how you set up the assignments. And what I've done here is I've actually clicked on the assignments are Mary Oliver wild geese inside of literature 404. And I wanted to show you an example of how a faculty member has set up an assignment. So when they were creating their assignment, these are the directions to the students around how to use hypothesis so they've asked them to look for the following poetic elements at work in the poem character structure tone device theme. And the instruction is located an example of one of these elements in the text create an annotation and explain how it's operating and tag your annotation with the corresponding term. So if you're doing an example of structure tag it with the word structure, etc. And what what this tells me is I've already clicked on the reading so it's opened up in a new page and I'm just going to click over there. So here you see hypothesis enabled on an assignment. So to the left is your reading to the right is the hypothesis sidebar. So if I will come in here, and I want to instruct students to read through it once without looking at any of the highlights that maybe have been done already. I can tell them to click on this little I, that will turn off all of the highlights or annotations that have already been done. So they can read through it formulate their own ideas, and then turn the annotations down so that they can see what others have done. When I've done reading and I found my example of structure, for example, and this isn't actually an example of it but I'm just going to help. I'm just going to use it as an example. I would just scroll over top and highlight, and then I have two options I can highlight if I highlight. It's only me that sees it so I it's highlighting is a personal act. What you want them to do is annotate. They can use highlighting as a way as a study tool they can turn off the highlights highlight for themselves, and they'll only see those highlights, but in this case it's an annotation assignment so I want them to click on annotate. When I do that if the hypothesis sidebar has closed it will open back up. It shows me by virtue of color, where in the what content in the reading I'm actually referring to. And then this is my text box where I make my annotation or my comment, you have full text functionality so you can bold talus eyes put something in parentheses. This is where you can add in a link. So if there is another reading that the student wants to refer to. You can add the link in there or there's music or video or anything they can add a link in here, so that it becomes a even more interactive type of communication with your the rest of the class. They can add images similar to the example assignment that I showed you earlier. They can do an entire assignment based on or annotating based on images so it can become really creative and really fun for you and your students. So whether if you use latex if you're math or engineering or science and you use latex and students can actually do their annotations using latex as well. They can use bulleted and numbered lists. And then this is where they would add the tag so I'm just going to put in this is an example. So that's my, my annotation, I would put in my tag based on structure, and then I'm going to post so I'm not going to do that here because you know every time I do a webinar I add in extra nonsensical comments so I'm not going to actually add it but I would click on post actually I will add it. I'm going to post it. And then it will show in the annotations. So as I go through my annotations on the right, I can see the color changing on the left so that helps me to see what area or see the content or see the content in context of the full reading. Some other things that you can do over here so as a participant so I've made my con comment and I've made my annotation, but now as a student, I can come in, and I can comment and as you can see there's quite a conversation going on here. So I can add in my comments and continue the conversation I can ask questions. I can ask for help. If I don't understand something I can put that in there and my fellow students will can, you know, provide me with some prompting or give me their ideas or you as a teacher can come in as well and add in your own comments and be part of the discussion. So that's where the community really starts to build, and students really feel that they're not alone in the class and they're not alone in the reading, and you as the teacher can see, where are people struggling if there are quite common questions. Where are they struggling, what areas. Maybe could should you or could you cover in a more synchronous session of the course. And also you get to see, you know, everyone participating. So if I wanted to. Again, we talked about the tagging if I wanted to, you know, just take a look at anyone any of the comments that dealt with structure, if I type them up here, as long as it's been tagged, then that information will will show up here and I can filter the content. Based on the area that I want to cover in that conversation with the class or the area that I want to grade at that moment. So tags can, and they can be very creative and you can use them in all kinds of ways but that's really just the one main area that the main way that we use tags right now. So that's basically it. Are there any questions, I guess I'll stop for a minute and ask if there's any questions. That was a great question. One of the important pieces to understand when you're setting up an assignment is that if you are using PDFs, you need to make sure that your PDF is accessible and what that means is as you can see when I'm highlighting here. I'm actually highlighting at the word level so I'm highlighting, which then will make the annotation will take the annotation to those words. If you have a non accessible or what we call a flat PDF, you won't be able to highlight specific words, it will only, for example if I try to highlight this image, all it will do is give me the box around the image I can't actually highlight any of these words down here. That's what your experience will be if you're not using an accessible PDF. So the, the process is called OCR, you want their optical character recognition, and there are a number of programs online so if you don't have the ability to do that. There are some free things that you can download that will will allow you to scan a PDF and they'll run it through the OCR software to make it accessible. However, if you're struggling and you have that question, you can certainly reach out to us or our support team and we do have a mechanism to allow you to do that. And we will help you help you create an accessible PDF, and we will also hopefully they'll drop it in the chat there is also a tool that we support or that we recommend that you can use if you have a non accessible PDF and you can run it through that program. And we will make it into a an accessible PDF that you would be able to use the, I guess the other piece to good point. The other piece is a lot of the on campus, the copier printers that you have if you're using that as a scanner to scan your your document as a PDF, most of them do have OCR software built in. So if you're using that it should come back as an accessible PDF. Any other questions on this. Excellent. Okay, let's pop back to our presentation. So, what do you do now. So you've learned a little bit about hypothesis we would be more than happy if you have more questions, please feel free to reach out to the education at hypothesis team. If you have that email address they'll drop it in the, in the chat for you, and you can reach out to the team, and we would be happy to set up individualized demonstration for you, or for any of your faculty on campus that would be interested. And the next step we would love to have you join our pilot program. The pilot program offers is full faculty and student or full faculty training top tier tier one technical and pedagogical support, as well as unlimited access for faculty and students. So the idea of the pilot program is you, we work with you to get the integration setup with your learning management system. And then for a the period of the pilot you and all your faculty and students will be able to make use of it explore hypothesis to see if it's something that you would make use of in your course. And be able to without sort of any limits be able to try it out and have to get students feedback and get your faculty feedback to see what courses it would be, or what disciplines it would be most valuable to you in using. We currently have an over 300 different schools, colleges and universities who have adopted hypothesis or are piloting these secondary schools are currently partnering with us and working through a pilot. And then they're providing we would like to thank all of these schools because they're providing all kinds of great feedback to help us in the development of hypothesis and to help us understand where hypothesis resonates the most within the secondary and the K to 12 market. These are the schools that are currently piloting or subscribing with hypothesis across higher education and school. Check this out, go to our website web dot hypothesis. And you can see all of these schools if you want to take a look more deeply into schools that are involved with us, but it's always a nice tie as well if you have an institution in your area that is using hypothesis it's great to introduce your high school students to the tool so that by the time they get to the college or university of their choice they're familiar with it and they, it's, they already know how to use it and so their instructor can move on to sort of more creative uses of it. To talk about the pilots include top tier one tech and pedagogical support will work with your team to set up the integration. We have an extensive knowledge base that you and your team would have access to. We provide the tier one support directly for instructors and staff. We have a ton of classroom guides and if you are interested, we can provide one to one instructional design consultations to help you understand the pedagogical value and how hypothesis could help in your specific classroom or discipline. What I'd like to invite you to now is to get started with a free trial. So the nice part about hypothesis it's an incredibly flexible tool. You don't have to use it on every assignment it doesn't have to be used from the beginning of class. And so we have a lot of teachers who are interested in giving a world in the next couple of months the remaining couple of months of their classes to give students something a little something different to try something a little bit more exciting. Something that will you know facilitate some different types of conversation. So we would love to have you try out in your classroom trial hypothesis for free will help you set it up. You can add it to your class for the remaining couple of months, get your feet well wet try it out. And see if it works, see how easy it is to set it up on an assignment or two, and it helps you to sort of understand where and how this might improve your students experience over a pilot term which would be sort of starting September and going through the fall. Feel free to visit our website. Again, it's web dot hypothesis and it's hypothesis.is you can take a look at who our team members are or you can email us at education at hypothesis. We'd be happy to one of our team members will reach out and get back to you with any information that you need or to set up an additional similar session to this if you think you're other colleagues would be interested in in having a look at hypothesis. Just two more quick things. We host a show called liquid margins, and I would encourage you to take a look.  Take a look at some of the sessions that have already happened we've got recordings of everything there. The show is where we collaborate. We talk about social learning. Usually we facilitate but it's led by colleagues. So, or your colleagues so teachers or professors at any some of the institutions that are already making use of hypothesis and they're sharing their ideas of what's worked. We talk about creative ways they've used hypothesis. So it gets you your thoughts, thinking about going. We have one, a couple on back to school one for engaging faculty and one for engaging students. We have a great session read write and annotate have one where it talks about math students using annotation which is great. A lot of our math teachers and faculty members are extremely excited about this option because they're just hasn't been away for them to work with students and help them to learn how to read and disseminate and digest mathematical articles so this is a great tool for that. So I would encourage you to go to that go to our site and check them out feel free to register for any upcoming sessions. And if you aren't able to make the session but you've registered we will send out a link to the recording. So you can benefit from it, even if you weren't able to make it. And lastly, we are hosting the I annotate 2021 conference. It's our eighth annual conference for open annotation practices and the technologies. It's completely free, and it's virtual due to, you know, the, the ongoing times. We have five days of keynote speakers, a variety of panels and interactive sessions, you can attend live or you can view them at your convenience. Same as with the liquid margins if you register, you'll get information about all of all of the sessions. But if you aren't able to attend, then you will receive for any of the specific sessions or panels that you register for, you'll receive recordings of them so you can watch them at your convenience. If you'd love to have you. That's it for for for the information that I wanted to share with you today but I'm now open I'll stick around for a few minutes for questions. So please feel free to put your questions in the chat or raise your hand. I can see that my colleagues have been answering questions as we go so that is excellent. But if there's anything more or if you were a little hesitant to ask a question in front of the full group, definitely stick on I'll wait until everyone's left. And I'll be here to answer any questions. Thank you so much for your time we really appreciate it. Have a great afternoon.


Hello, welcome everybody. Thanks for coming. It's really a pleasure to see that so many have attended. The Barcelona Bitcoin Community is proud to announce you Andreas Antonopoulos, the author of Mastering Bitcoin. Everybody who don't know this book and who want to learn something about Bitcoin, that's the Bible of Bitcoin. He's a network and security expert, developer, entrepreneur, co-host of Let's Talk Bitcoin and probably the most wanted speaker for Bitcoin conferences. So we are very happy that he could come to Barcelona to our meetup here. Now I don't want to waste your time anymore and give the microphone to Thomas. Thank you Manfred. Welcome everyone. I'm going to be very short as well. Welcome to the FABLA Barcelona, which is located at the Institute for Advanced Architecture of Catalonia. It's not by chance that Andreas is here. He's actually opening, I would say it's the very first time that we're going to have a conference about Bitcoin at this institute that is looking into the future of architecture, the future of cities through the use of technology. Part of that is what we have a FABLA as a distributed manufacturing facility. So with that, I think that you are waiting for Andreas and thank you for joining us. The stage is yours, the people is yours. Thank you. Thank you so much for having me here. It's been quite amazing. I'm doing a European tour, which involves visiting seven different speaking events in 12 days. I'm a bit jet-lacked. And the title for each of these talks is Thoughts on the Future of Money, which basically means I didn't want to commit to a topic until the last minute, because I have several different topics to talk about. So I gave myself some room to pick at the last moment based on the audience. What I want to talk about today is about the concepts of neutrality, decentralization, and privacy, and what makes Bitcoin so special. You'll hear me talk a lot about Bitcoin. When I use the word Bitcoin, I'm not talking about the currency. I'm talking about a broader concept, which is the concept of completely decentralized, network-based, flat networks for providing trusted applications. And if you happen to have a completely decentralized, flat network that can provide trust applications, the most logical first application is currency. But currency is just the first app. We are restructuring society by rebuilding institutions. Traditionally, institutions in this world have been hierarchical. This was an invention of industrialization, an 18th-century concept, to allow people to organize and communicate at a larger scale. It was very effective at breaking the monopolies of kings and feudal systems. It's now run its course. Sometimes people ask me what my political positions are, and it's very difficult to explain, but one word captures it. I think I'm a disruptarian. What that means is that every 30 or 40 years, at least, things that have settled need to be disrupted. As they settle, power accumulates, they become centralized, and with centralized power, corruption happens. This is the new concept. My ancestors, I come from Greece, figured out that corruption happens in systems of power.  We live in a world where banking was a great liberator after the 15th century, an invention that moved finance from the realm of kings to the realm of everyday people. That system liberated billions of people, then it got concentrated, acquired power, and led to corruption. What we're left with today is not a liberating system, and it's time to disrupt it. Bitcoin is one of the things that will greatly disrupt centralization of power. Why is that? One of the things that interests me as a computer scientist working in distributed systems is the architecture of systems. Architecture is a great topic for this city. The architecture of systems is what ultimately produces the outcomes. I've worked with a lot of bankers. They're nice people. They try to feed their family, pay their mortgage, keep a steady job. Among them, there are a few sociopaths who inevitably rise to the highest positions of power, because sociopathy is an advantage in hierarchical systems. But most of the problems with traditional concentration of power and money has nothing to do with the people being evil. It has to do with the fact that these institutions, through their shape, through their architecture, produce outcomes that are not good. They produce outcomes that are not egalitarian. They produce outcomes that are restrictive. They start to express nativism, nationalism, tribalism, class structure. All of these things make the world a smaller place. Over the last 15 years, we've seen the internet become an enormous power for the decentralization of communications. It has been a very liberating force. But if you look at economic inclusion and how banking works, we haven't expanded access. In fact, we're now regressing. Economic inclusion is reducing. The reason it's reducing is because these isolated structures of finance, their very architecture, raises walls. National borders, class structures, and differences in how your money and your commerce is treated. We live in a world that is increasingly global and interconnected. Even an emergent global culture through the internet. Yet our financial systems are parochial, insular, and separated. If you look at it from a network perspective, there are systems of money for transmitting small amounts. Systems of money for transmitting large amounts. Systems of money for consumer payments. Systems of money for business-to-business payments. All of these are separated geographically based on borders, legal jurisdictions, and nation states. What this structure produces is separation. It means that as people, we are less and less free to transact with the rest of the world. Geopolitics is affecting finance in a great way, because the combination of state and money produces toxic results. We're about to disrupt all that. What Bitcoin's architecture gives us is a new way of organizing the world. Exactly the same way that the internet flattened access to communication, made every system that connects to it an equal peer. If I have an IP address, my packets are treated no differently than the packets of anybody else on the network. For the most part, that gives voice to everyone. It gives everyone the power of the printing press on a global scale. Bitcoin will do the same by giving everyone the power of banking on a global scale. Think of it like desktop banking, the way desktop printing, desktop publishing, and websites changed communications. It's desktop banking, individually controlled banking. With all of the power of the largest bank in the world, that's what creates disruption. Imagine a world where every person has the ability to not only execute transactions, but create complex financial systems and instruments without asking for anybody's permission. Simply by connecting to the network, they can start a new application. Centralized systems can't do that. In a centralized system, the further out you are, the less control you have. The further in you go into the system and up the hierarchy, the more controlled, the more limited the access is. But not with Bitcoin. With systems like Bitcoin, every node on the network has equal access to all of the financial services. In a centralized system, if you want to build a new application, two things have to happen. First, you have to ask for permission. Then permission is only granted if that application can apply to very large populations and be profitable. On the internet or on Bitcoin, all that is needed to start an application is two nodes, two people, two systems. They can start communicating, construct their own protocols, their own systems. That application with only two people using it is just as valid as every other application on the network. When you look at the internet, the fundamental misunderstanding is that people think that the power of the internet comes from the ability to transmit information fast. But the real power of the internet comes from net neutrality. Net neutrality is the concept that the internet does not discriminate based on source, destination, or content. Bitcoin is the first financial network that exhibits neutrality. When you do a Bitcoin transaction, the network doesn't care about the source, the destination, the amount, or what type of financial application it is supporting. Simply, did you pay a sufficient fee to use the network resources? If you did, your application is valuable. We have an interesting conversation happening in Bitcoin right now. Perhaps some of you have heard the term spam transactions. Have you heard that? What is a spam transaction? What does it mean for a transaction to be spam? I think that term is meaningless. To decide which transactions are spam and which are not, you are making a top-down judgment. You are imposing in the architecture the choices of which applications are legitimate. To who? Legitimate to the end user? There is no such thing as a spam transaction simply because if a transaction carries enough fee, that means that the sender of that transaction felt it was valuable enough to transmit. Therefore, it is a legitimate transaction. This replaces the concept of controlling content by making decisions about what is good, what is bad, what is legitimate, what is illegitimate, what is a valuable application, what is not a valuable application with a simple market mechanism.  Starting in the 1970s, we have seen the world begin to adopt digital currencies. When people call Bitcoin a digital currency, they are missing the point. The euro is a digital currency. The US dollar is a digital currency. Less than 8% of these currencies exist in physical form. The rest is bits on ledgers. The fundamental difference is that these ledgers are controlled by centralized organizations. Whereas in Bitcoin, they are not. You have a decentralized network, an open network. Bitcoin is not a digital currency. It is a cryptocurrency. It is a network-centric money. I really like the idea of a network-centric money. In my opinion, the word Bitcoin is a terrible name.   Bits, which either means small or it means the person who just said that is a geek, none of which is appealing to general population. Coin, a physical token of money, used to describe the least physical form of money we have ever designed. If I could rename it, I would rename it TrustNet, because that is what Bitcoin is. It is a network that allows you to replace trust in institutions, trust in hierarchies, with trust on the network. The network acting as a massively diffuse arbiter of truth, resolving any disagreements about transactions and security, in a way where no one has control. Starting in the 1970s, our currencies began to be digital. This is not the same digital as Bitcoin. This started a dream for governments. A dream of being able, one day, to control every financial transaction of every human being on the planet, in a way that everything was visible to the power structures, where privacy dies. The ability to make a transaction immediately puts you under the lens of systems that surveil you. We have been creating a system of global financial surveillance, a system of totalitarian financial surveillance throughout the world. That system, which requires identification, credit-checking, and limited access, is responsible for the fact that economic inclusion is regressing. It is responsible for the fact that 2.5 billion people have absolutely no access to banking. That is just the heads of household, not counting their families. That is not counting people who have limited access to banking and a single currency within a single border. If you count all of them, you are starting to go into the high billions. It is difficult to really estimate what economic exclusion means. I will give you a simple calculation. As a member of the privileged elite of the developed world, I have the ability to open a brokerage account in 24 hours electronically. Within 24 hours, I can be trading in yen on the Tokyo stock market. I can be sending and receiving money anywhere in the world, without any limits. All I have to do is sacrifice my privacy and my freedom. While I can do all of those things, and they are very powerful, there are some things I can't do. I am not talking about buying drugs. That is not really interesting. I am talking about simple things, like donating to an activist organization like WikiLeaks. A few years ago, WikiLeaks was completely cut off from the world financial systems, simply with extra judicial pressure applied on five major payment providers. Visa, MasterCard, the banking transfer system, PayPal, etc. Without any legal process, without any conviction, and perhaps without any crime, other than revealing the truth of crime, WikiLeaks was cut off from the world financial system. This is happening not just to activist organizations, but to entire countries. Just like that, the dream of nation-states to create a totalitarian financial system that started in the 70s died. On January 3, 2009, with the invention of Bitcoin and the mining of the Genesis Block. Bitcoin is censorship-resistant. You may have heard this term. You cannot control where money is transmitted in Bitcoin. It is not attached to identities or geography. In Bitcoin, surveillance of everyone is not possible. In fact, it is going to get much harder, because privacy is increasing on Bitcoin. Censorship-resistance is an artifact created by neutrality. The architecture of a flat network without borders, the architecture of neutrality that doesn't describe any meaning to source destination value, is what creates censorship-resistance. Privacy is very important. It is a term that often has very deep political meaning. I like to juxtapose it to another term, that of secrecy. What is the difference between privacy and secrecy? Ultimately, and practically in today's vocabulary, privacy is the right of billions of individuals to not be surveilled. Secrecy is the power of the very few to escape accountability, to have no transparency. We live in a world where every individual transaction you do through the financial system is catalogued, analyzed, transmitted to intelligence services all around the world that collaborate. Yet, we have no idea what our governments do with money. The financial systems of the powerful are completely opaque. Our transactions are completely visible through this system of surveillance. This world is upside down, and Bitcoin writes it. Privacy is a human right, and secrecy is a privilege of power. We need to be in a world where we have complete, ultimate, strong privacy for the billions of people. That is a human right, a cornerstone of the freedoms of expression, association, political speech. All of the other freedoms are very much attached to privacy. We need to live in a world where secrecy is fickle and easily pierced, where power has to face accountability. Because they are under the spotlight of transparency. We need to flip the system upside down. One of my favorite words is a French word, surveillance. It is the opposite of surveillance. Surveillance means to look from above. Surveillance means to look from below. In their dream of nation-states of controlling all of our financial futures, they made one major miscalculation.  But what do you think happens when seven and a half billion of us stare back? When the panopticon turns around, our communication systems are private, and secrecy is an illusion that can't be sustained. When crimes committed in the names of states and powerful corporations are vulnerable to hackers, whistleblowers, and leakers, when everything eventually comes out, we have a great advantage. The natural balance of the system is one in which individuals can have privacy, but the powerful cannot have secrecy anymore. Bitcoin is one of the first steps in that. The ability to transact across borders means that we will now be able to extend financial services to billions of people who have no access, not through complicated technology necessarily. I speak sometimes to various regional banks, the ones that are not afraid of Bitcoin. They tell me things like 80% of our population is 100 miles from the nearest bank branch, and we can't serve them. In one case, they said 100 miles by canoe. I'll let you guess which country that was. Yet, even in the remotest places on earth, there is a cell phone tower. Even in the poorest places on earth now, we see a little solar panel on a little hut that feeds a Nokia 1000 phone. The most produced device in the history of manufacturing, billions of them have shipped. We can turn every one of those into not a bank account, but a bank. Two weeks ago, President Obama at South by Southwest did a presentation, and he talked about our privacy. He said, if we can't unlock the phones, that means that everyone has a Swiss bank account in their pocket. That's not entirely accurate. I don't have a Swiss bank account in my pocket. I have a Swiss bank with the ability to generate two billion addresses of a single seed and use a different address for every transaction. That bank is completely encrypted, so even if you do unlock the phone, I still have access to my bank. That represents the cognitive dissonance between the powers of centralized secrecy and the power of privacy as a human right, that we now have within our grasp. If you think this is going to be easy, or that it's going to be without struggle, you're very mistaken. If you read anything about Bitcoin, you will see the very same things that they said about the Internet in the early 90s. It is a haven of pedophiles, terrorists, drug dealers, and criminals. How many of you in this room have Bitcoin? How many of you in this room are terrorists, pedophiles, drug dealers, or criminals? The thing about Bitcoin is, while they push this story, every now and then, someone who's never heard of Bitcoin notices two important things. One, it's still not dead. Which is always surprising, because every two or three months there's an article that says it's dead. That's great marketing. Every time someone hears it's dead, three months later they hear it's still not dead. They think, huh, this thing really tends to survive. I call Bitcoin the internet of money, but perhaps we should call it the zombie of currencies. It is the currency that is the undead. The issue here is that we're now creating a system that is threatening the largest industry in the world. That is finance. They are going to object. They are going to push back. They are going to use the most common and effective emotional tactic there is, which is fear. They will treat you in such a way as if you are idiots, and try to persuade you that this is something to fear. When people hear that message, maybe the next day they come to one of these meet-ups. They meet a dentist who owns Bitcoin, an architect who owns Bitcoin, a taxi driver who uses Bitcoin to send money back to their family. Normal people who use Bitcoin to give themselves financial power and financial freedom. Every time that message is broken by cognitive dissonance, Bitcoin wins. All Bitcoin really has to do is survive. So far, it is doing pretty well. Even if Bitcoin was attacked, there are 750 alternative currencies built on the same design, many of which are far stealthier, far more robust, at least at the scale they are now. Who knows? Bitcoin will get more robust, or something else will replace it. In fact, it is ironic, because in the new network-centric world, currencies occupy evolutionary niches. They evolve like species based on the stimulus they have from their environment. Bitcoin is a dynamic system with software developers that can change it. The question is, in which direction will Bitcoin evolve? Which environmental niche will it attempt to fit in? How will that be affected by the actions of the powerful? Here is one of the problems they have. If they attack Bitcoin, it evolves to defend itself against predators, just like any species. If they attack Bitcoin's anonymity, it evolves to become more anonymous. If they attack its resilience, it evolves to become more decentralized. In the end, despite all the messages of fear, Bitcoin is the cuddly little bear of currencies. You do not want to kick it, because as an evolution, if you stomp on the little gecko, it will evolve until it is a Komodo dragon, and then you can't stomp on it. Sometimes people ask me, do you think governments will ban Bitcoin? Do you think they will try to regulate it out of existence? Do you think they will attack it with denial of service attacks? The answer is really simple, because in network-centric systems, systems that are dynamic and adaptable, systems that exhibit anti-fragility, attacks cause the system to adapt, evolve, and become resistant. Think about this for just a second. I have been involved in the Internet since 1989. I remember very clearly, in the early days, when lots of articles were written about how the Internet was not resilient, could not scale to do voice, was not secure. I remember times when denial of service attacks would take down Yahoo, Alta Vista, and even Google for hours, sometimes days. What happened between then and now? How many times have you seen Google go down in the last five years? The question is, have people stopped attacking Google? Quite the opposite. Google can now sustain gigabits of denial of service anywhere in the world, and dynamically reroute. The same applies for all Internet applications. The attacks didn't stop. The system became immune.  The next time you are exposed to the virus, it does nothing to you. Will governments try to ban, regulate, attack Bitcoin? They already are. They have been, almost since the beginning. Bitcoin keeps getting stronger. It is a system that is under constant denial of service attack, on the Internet, being attacked by hackers, agents, and other systems, 24 hours a day. In security, we have a funny term, which is a honeypot. A honeypot is a system designed to attract hackers. What bigger honeypot could you have than a financial network that has $6 billion on it? If you hack Bitcoin, there is a $6 billion reward for you finding a way to hack it. No one has collected that reward yet. It is not because they haven't been trying. They have been trying non-stop. Systems like Bitcoin are resilient. Remember that what we are doing here is not a currency. It is a reworking of the societal systems of organizations that have failed us. The 18th century system of hierarchies that does not scale to a global interconnected world, is being replaced by network-centric, flat architectures. Whether that is the Internet or any of the applications running on top of it, or Bitcoin itself. Currency is just the first app. When you have a network that can provide you with neutral trust, you can build myriads of applications on top. You don't even have to ask for permission. Bitcoin is much more than currency. When I say that Bitcoin is the Internet of money, the emphasis is not on money. The emphasis is on the Internet. Welcome to the future of money. We will do a few questions and answers, but first I wanted to talk very quickly about some logistics. If you brought with you a copy of the book, I will be delighted to sign that copy for you. Please see me after this talk. I will sit next to a table and sign books. However, this book is open-source. Everything I do is open-source. I use a very aptly-named license called the Creative Commons, which couldn't be better expressed than in a place like FabLab. Which is a Creative Commons. All of the work I do is free, by attribution, share-alike license. Anyone in the world can read my book, sell my book, share my book, translate it, mash it up, turn it into a course, a video, or a rap music song. All of the above have already happened, which is astonishing. Starting about eight months ago, we embarked on a project of great significance, which was the translation of Mastering Bitcoin as a resource for the community, for developers around the world, from any nationality to learn how to wield this tool of power and use it to build applications. Groups of volunteers, very often just a single volunteer with a desire to learn about Bitcoin by translating my book, have done me the honour of translating it into twelve languages so far. All of those translations are available for free online. You can download this book in Spanish. The translation was completed in October of 2015, as well as Hungarian, French, Russian, Japanese, Korean, and soon Chinese and Catalan. The Catalan translation is nearing 50%, and volunteers are working on it in order to bring this into the Catalan language. For me, that is the most important thing that we need to consider with Bitcoin, which is the power of knowledge. Bringing that knowledge to as many people as possible is how we create success in changing the world. I was just the first to write a book in this space, but all of you can also participate in sharing the knowledge of Bitcoin. This isn't my greatest contribution to the space. I think the simple act of discussing Bitcoin with every taxi driver I've ever met, with every person in the street I've ever met, with everyone I've shared a drink at a bar, and on the spot within the first ten minutes, helping them install a wallet, get a Bitcoin address, and giving them one or two dollars in Bitcoin, so they can try it from themselves. That's something everyone in this room can do. Arguably, when I started, giving everyone one or two dollars in Bitcoin meant giving them a Bitcoin. I have now given away more Bitcoin than I will ever earn in my life, and I continue to do it to this day. I invite all of you to look at this as a community. Bitcoin is not just a community of technologists, it is a community of artists, architects, hackers, makers, singers, and all aspects of culture, because that's what it means to have community. Again, I think nothing could express that better than our current location at FabLab. Thank you very much. We'll take some questions now. Hi, Andreas. Hello. Hello. As a potentially comparable technology, but non-blockchain, so a decentralized internet, do you have any thoughts about Madesafe and the Safe Network? You know, I think, so for those of you who don't know, Madesafe is a system that's designed to create peer-to-peer cloud computing. The idea being that resources that you have on your computer, disk computing, networking capabilities, can be shared. And while sharing is something that we may be naturally inclined to do, there are quite a few barriers, and the idea being that if you create a system of incentives in the form of a currency for sharing disk space on your laptop, or computing, or other resources, then we will encourage more sharing. And the interesting thing is that you don't encourage sharing because people profit from it. But because the ability for me to share disk and earn currency then gives me the ability to buy disk computing and networking resources from others in a way that creates the sharing economy. I think some of the first applications we're going to see are going to be related to personal computing and personal clouds. So I think it's a very interesting experiment. I have no idea if it will work. And I certainly don't advise in treating Bitcoin or any of the other systems that are evolving around them as speculative investments unless you really know what you're doing, because we are so early stage in this technology that the one characteristic we all share across the entire industry is crazy volatility. And so if you treat it as an investment, you'd better have very great courage or a lot of money. As they say, what's the best way to gain $1 million? Start with $2 million and trade like crazy. And that's how speculative investment works. So yes, very interested in the technology, very interested in the projects. We'll see how it goes. Yes. Thank you, Andreas, for coming over.  I really would like to ask about the power of mining centralization in, let's say, a couple of countries. What do you think? And although Bitcoin looks like antifragile, how do you foresee that we are going to pass or go through that mining centralization power? That's a very good question. So for those of you who are technically minded or have been following the Bitcoin space, one of the characteristics of Bitcoin from the first white paper by Satoshi Nakamoto was the idea that Bitcoin decentralizes power by giving one CPU, one vote. The idea being that by contributing processing power to the network, you become part of the decision-making process. Something interesting happened, though, because the incentives once it started taking off were so powerful that people started investing in more complicated computing. And soon it wasn't CPUs, but GPUs, graphical processing units that were used to mine Bitcoin. And that represented a 100 times improvement in the ability to mine. Think of it as one GPU, 100 votes. And very soon, from GPUs, we went to FPGAs, field-programmable gate arrays, which are systems of silicone where you can encode an algorithm and run it really fast.  In each one of these steps, we saw somewhere between 100 and 10,000-fold increase in performance over the previous generation. And that is the primary reason why it caused enormous centralization in mining. However, that game is now over. If you were a miner who migrated to A6, then migrating to a system that was printed with a silicone fabrication system at 24 nanometers gave you an advantage of 10,000 times over the previous generation. And you could buy those chips by making a very big order with a semiconductor factory, which means that only very few could put up the necessary capital. And if you could then take that down to 22 nanometers using a more specialized silicone fabrication system, you could get another massive improvement. So we saw mining hardware evolving every three to six months.  In six months, it went from the most powerful, most profitable system of mining to being unprofitable for the level of electricity it consumed. And so that created even more centralization, because now the ability to put down more capital every three to six months to get rapid delivery to be closely connected to silicone fabrication centralized mining. And it centralized mining a lot in China, primarily because that's where the silicone fabrication is. And there's also some great opportunities for cheap energy. I don't think that was the vision of Satoshi. Now, I will caution you one thing. A lot of the concern about Chinese mining, in my opinion, is blatantly racist. If mining had centralized in Sweden, we wouldn't be getting so upset, right? So just keep that in mind, because Chinese mining represents excellence in engineering, concentration of resources in engineering, and so far the ability to deliver massive amounts of security and trust for the Bitcoin network at very low cost because of the cost of electricity. That is something we all benefit from. But here's where it gets interesting. As of six months ago, we started seeing the fabrication of ASICs at 16 nanometers. 16 nanometer technology is the cutting edge of computer processing. It's what you see in your latest Apple hardware device. And the exponential growth of performance now hits a wall because there is nothing better than 16 nanometer technology. In computer terms, we have this law called Moore's Law. And Moore's Law, posited by Gordon Moore, the founder of Intel in the 70s, is the idea that every two years approximately computer capacity doubles. And we've been running ahead of Moore's Law, and in fact it's been doubling in less than 18 months. That sounds really fast, doesn't it? Unless of course you've spent the last five years doing a thousand times faster every six months, and suddenly you're down to twice as fast in two years. That's a wall of performance. That means that once you put those 16 nanometer things on the shelf, they're going to sit there for two years, and you don't have the ability to upgrade them. And that now means that the advantage shifts from the economic power of those connected to silicon fabrication to the ability to deliver these devices as consumer devices. Because with the centralization of mining comes one big disadvantage. If you have a thousand terror hashes in a warehouse, what happens when the warehouse burns down? What happens when you lose electricity to the warehouse? What happens when you lose cooling to the warehouse? What happens when you have a problem with your investors? The centralization now makes you vulnerable to losing everything. Compare that to the possibility of having a mining chip that's part of a toaster or a water heater that's plugged into your kitchen wall. But if you have, instead of one system that produces a thousand terror hashes, you have a million systems producing one millionth of that, they're less vulnerable to disruption. Because if the power goes out in a whole city, it only affects a small percentage of the devices out there. And it may be unprofitable for now for us in the developing world, but in some places in the world it's going to become profitable to mine on the latest chips using solar energy and hydroelectric power and renewable sources that are less expensive. Which means that, in my opinion, mining centralization reached its peak in 2015. We're going to see now, it's probably going to continue the wave for another year or so. And in July 22nd, 2016, we have an important event. The reward for Bitcoin blocks is divided by two, half the amount of reward. I think what that will do is it will ensure that anyone who is not mining on the very latest 16nm chips becomes unprofitable, and then we have a level playing field. So, I'm not really worried about that. First of all, because we still have great security, and mining centralization hasn't led to any of the nightmare scenarios that we have imagined in Bitcoin. And secondly, because I think it was an artifact of the race of technology to Moore's law, and now we're done. So again, that was a long explanation. I apologize because it's a very technical topic. Thank you for the question. Hey. So, we have a question from the internet from people online. We have 90 friends online. And Cisco from the Netherlands asked it, will mass adoption happen this year or any soon? This is his question. Well, that's an easy question. Will mass adoption of Bitcoin happen soon or this year? No. That was easy. Do you want me to elaborate? I'll elaborate a bit on that. First of all, we have to recognize reality. Bitcoin today is a technologically advanced system that is pursued by those who have literacy, numeracy, capital, and freedom. And that means that it is highly concentrated. It's not only concentrated primarily in the developing world, but it has a very problematic demographic, which is it's all white men, or at least 95%. And that is going to change, and it has to change. And the reason it's going to change is because of mass adoption. Because, trust me, when I joined the internet in 1989, it was also all white men. And today, the number one demographic on the internet is a 23-year-old Han Chinese female. That is the majority of the internet population. And it will be like that for Bitcoin when mass adoption happens. But for the internet, it took 25 years. And it took the laying out of massive infrastructure. Now, Bitcoin already has the internet, which is why it's going to be a bit easier. So I think we can do it in 20. We're in year seven. I think we're making a very good run of it, but it's not going to happen next year. We need patience. Thank you, Andreas, for the inspiring talk. What do you have to say about other coins coming up? You think we'll have a sea of coins each with its function? Ether is really popular now. Smart contracts. Will other coins come up? How do you see it happening? Yes, they will. And this is something fundamental to understand about the new world of digital currencies, or cryptocurrencies of network-centric currencies, is that we try to apply to them the ideas of the past. And we have all lived our entire lives in a system that delineates currencies by nationality, and allows them to be centralized, and also to compete in a zero-sum game. One currency wins only if another currency loses. What better example for that than the fact that right now, 24 central banks have set their interest rates to zero or negative in order to create a race of devaluation of their currency so they can erase their debt. They're racing against each other to the bottom. And that is exactly the result you have in a closed system with strict borders. But that's not what happens with Bitcoin. The important thing to realize is that money is not its physical form. Money is a form of language. Money is the language that we use to express value to each other. Money emerges in societies, regardless of its physical form. It even emerges in primate societies. You can teach monkeys how to use money. They will adopt it and teach it to their offspring. They will also invent new financial things like prostitution and robbery. You beat the other monkey, you take its pebbles, and you get bananas. Money emerges among kindergarten children, even if they don't understand money. They trade tokens of money, colored blocks, rubber bands, and Pokemon cards. Money is a lubricant for social interaction. If you have a language with which you express value, you can express appreciation, belonging, and lubricate social connections. If you look at money as a language, we need to rethink this idea that this is a competition for who becomes the one global winner. English is a very popular language. Did you all stop learning your local language because of that? Or did you learn two, three, and four? In the world, we have thousands of languages. Though we may see some power in some of the major languages, people can adapt in a way that they can use multiple languages. The language connects them to their culture. When money becomes a language as Bitcoin has, the idea that it will be replaced, or that we are looking to see which one is going to be the winner, is as ridiculous as asking if English or Spanish will become the one global language, or Mandarin. The bottom line is that we will have thousands of coins. Then we will have tens of thousands of coins. Most of them will have no economic value, but they will have cultural significance. They will have value of loyalty. They will be representing fans or creative appreciation. Some of them will be very large and have economic value. If you have a system like that, what emerges, and what we see in statistics and mathematics again and again, is a power-lower Pareto distribution. Just like you have 20 languages that are the world's most popular, but then you have a long tale of thousands of languages behind them, 20 artists who are some of the world's most popular and hundreds of thousands of artists behind them. Currencies will evolve in that way. We may have 20 currencies that have major economic value and fit in specific niches, smart contracts, micropayments, cross-border transactions, solid reserve, etc. Then we will have tens of thousands in what is called a long tale. One of the things we have to do is get rid of old thinking when it comes to looking at this medium. We don't yet understand exactly how it will evolve. There is a very simple reason for that. We have never done this before. This is the first time in history that we have seen this emergent phenomenon happen, and you are sitting on the front rows of history. Yes, Ether made safe. Bring it on. You have a follow-up? We will get back to you in a second. Hi, Andreas. I just wanted to ask you a question about your metaphor, your organic metaphor of the decentralized network developing a resistance to attack. It made me think of the TCPIP technology and how that was invented to be bomb-proof. It was like a mesh.  Although you have characterised the confrontation between the old hierarchy that you described and the new decentralized world in a confrontational way, as a kind of confrontation, what do you think of the irony that that technology fell into public hands? Is it possible that there is a cooperative aspect to that confrontation as well? That the old hierarchy at a subconscious level will cooperate with this evolution? Some will. Some won't. Again, I will overuse this metaphor. If you look at what happened on the internet for the first decade or so, phone companies absolutely hated it. They wrote the propaganda for the media about how the internet could never replace phones, etc.  The vast majority of the phone networks, the same ones that resisted the internet running on top of them, now run on top of the internet. But what happened? Was it the largest telecommunication companies that adopted this first? No. It was actually the third tier of companies. The ones that could not compete with the large telecommunication companies, that could not compete with the capital, the access to legislatures and the marketing budget. They said, well, we can't play your game on your terms. But we have this internet thing, and we're going to use it to beat you out of the competition. What I predict we'll see is a bifurcation of the financial industry, and we're already seeing that. When we say banks, what do we mean? There are different types of banks. There are banks that deal primarily with consumers, that deal with checking and savings and payments for consumers. Most of the world's regional banks are that. They do loans, they do checking, they offer currency. They're not really bad. In many cases, they offer good services. I've had some conversations with very large banks from developing nations, and they do not fear Bitcoin. They see it as an opportunity to expand their services to populations that they can't reach today. Then there's the other kind of bank, the bank that really doesn't have customers. You'll notice that these banks are gradually dropping consumer accounts. They're focusing primarily on investments and large concentrations of wealth, and gaming the stock market and other international markets where they have significant advantage. What do these banks do? They don't fund consumers or loans, because consumers and loans are not profitable. They don't care about expanding their services.  Those banks are going to have a problem with Bitcoin. In fact, they do. You can see it in the way they speak about Bitcoin. To them, this is inconceivable. They are now going through what I call the five stages of grief. They started with denial, Bitcoin.  Then they noticed it wasn't going away, so they started getting angry. Bitcoin criminals, pedophiles, terrorists. The world will end if we allow normal people to control their own money. Next comes bargaining. Hey, we don't like Bitcoin, but blockchain. That nice, open, decentralized, borderless, peer-to-peer, open innovation, open access system you built. We can build one that is not open, not decentralized, not borderless, not open innovation, and not open access. We control completely blockchain. They are missing the point. Those are not the features to avoid. Those are the features that make it powerful. They are bargaining. I can tell you, it is not going to work.  Blockchains in the use of Bitcoin with a decentralized consensus algorithm are inefficient. The inefficiency is the price you pay to get freedom. If you don't care about freedom, why take the inefficiency? Install a database. After bargaining comes depression. This will be a financial depression.   Which economy do you want to serve with your network-centric currency? The big one or the little one that is broken, corrupt, and dying? That in the end will be the depression stage, hopefully followed by acceptance. Some companies are going to do very well in playing in the game of network-centric currencies, using it to expand access and borders, trade internationally, and empower people. They will be the majority. The banking system is dinosaurs. They operate on 70s technology. The dinosaurs have enormous contempt and disdain for the furry mammals running around their ankles. They spend some time squashing these mammals that are insignificant. But there is a meteor in the sky. Once the dust settles, the mammals we win. This is a confrontational system, but not because we are confronting anyone. It is because we are creating opportunities that some do not want to see. When you reveal the truth at a time of universal lies, that is a revolutionary act. The revolution in it is not what you say, it is the fact that you go against the lies. Bitcoin is doing that on a global scale today, and many of the other technologies that go with that. I don't look for confrontation, I look for inspiration and positive energy that we can create as community. The banks are really irrelevant in this conversation. Let's take maybe one or two more questions. I would like to ask you about the scalability of Bitcoin. What options has Bitcoin right now and what are the advantages and disadvantages of each of the options? What is your opinion on which of those options should the community adopt? That's a very good question, also a very easy one to answer. I did a talk in Prague, which is being videotaped, and will be videotaped. I'm over 40. Ignore that. Recorded, which is being recorded and will be brought back soon. The entire presentation was about scalability, and why scalability is something that doesn't get solved. It just gets pushed further out as we scale to different types of applications. What are we going to do? Are we going to do a segregated witness or raise the block limit? Or invertible bloom lookup tables or thin blocks or replace by fee? The answer is really simple, all of them. Then we will run into new scalability problems. The moment we create space with these capacity improvements, people will look at that space and think, I can do something I couldn't do before, and then that space will be gone. That story repeats. The internet is an example of a technology that failed to scale gracefully for 25 years. If Bitcoin manages to fail to scale gracefully for decades, we are in a very good place. We will do all of those things. The debate has now narrowed to the point of, which one do we do first? Is it this month, or next month, or this year, or next year? Which is really just an engineering issue. It is not worthy of all of the drama and recriminations that happen in this space. We will do that. I am very confident about scaling, because ultimately scaling is an engineering issue. Bitcoin has the capability to scale, not just that. We are seeing smart people working in the development space of Bitcoin, inventing new ways of improving scaling all the time. It is not just the five I mentioned. There are 20 proposals on how to continue to scale Bitcoin. Will it scale ultimately on its own without another layer? I don't know that. Maybe we will have to do more layers on top, as long as there is trustless and decentralized, I am okay with that. But it will scale. Maybe I think there are one or two questions more? Yes. Maybe we take one question from the live stream. Let's do one more question from the network. Maybe here is the last question from the audience. Hi, Andreas. Pick one from the live stream, please, and we will do that next. Thank you. I would like to know if you forecast a moment when there will be a passage between fiat currency and cryptocurrency in the world, that it's so fast that there will be bloods and revolutions, or will be smooth these passages between the two different systems? That's a great question. History doesn't do smooth. History does punctuated equilibrium, spurts of innovation, disruption, and chaos, followed by centuries of plateau, followed by spurts of innovation. I think it was Nicolas Negroponte from the MIT Media Club who said, the future is here today. It's just distributed unevenly. The passage from fiat to digital currencies or cryptocurrencies won't happen everywhere. It will happen in the places where the price of remaining with the currency is to lose the generational wealth of your children, where the penalty of pushing against your government is violence. This gives you a mechanism to opt out. Your government has taken you hostage together with the rest of the population in an economically disruptive spiral. I don't know what will happen, but I think in ten or fifteen years, we will see moments where governments will try to take their populations hostage. Very large numbers of that population will go, but I don't think so. Argentina, Cyprus, Greece, Spain, and many other countries have faced currency challenges and economic depression because of currency challenges. There is enormous interest in Bitcoin in Argentina, for example. In Venezuela, where they just arrested two miners to make an example of them after flooding the media with stories about how Bitcoin is for terrorists, criminals, pedophiles, drug dealers. The problem is that that message doesn't change the fact that Bitcoin doesn't have 550% inflation. When you are faced with that balance, sometimes you say, I'm going to get out. Today, a tiny portion of the population has the means, the education, the technical infrastructure, skills, and capital to escape that trap.  We will see that. I hope in my lifetime. We have a question from Dord. He makes several times this question. He wants to know your opinion about the centralised system on Bitcoin Network, requiring personal data for usage and thought of future of that. Yeah, I think most of my talk was about this, but I'll focus just on the revealing personal data part of it, because the revealing personal data is not simply a matter of a totalitarian financial surveillance system. It's also a market economy. We already have a system for micro-payments on the internet. If you want to buy any content that is effectively priced less than $5, the price you pay is a micro-violation of your privacy. That is the micro-payment system we have on the internet. You give your data to be consumed, analysed, statistically correlated, so that the messaging you receive is narrower and narrower and narrower, more and more conforming to the image of what Facebook thinks you want to hear, to what Amazon thinks you want to buy, etc. We pay micro-payments through micro-violations of privacy. Our private data is the price of entry into the micro-economy. We can do much better than that, because as we develop micro-payments on top of network-centric currencies, we can instead pay with currency. While retaining all of our privacy, Bitcoin doesn't require you to identify yourself. That is not a bug. That is a feature. In fact, Bitcoin makes it very difficult to overlay identity on top of it, the way the blockchains the banks want to build are, because that is not secure. When you concentrate on personally identifiable information, you get hacked. We have not yet found a way to secure data. Nobody can secure data. Citibank can't secure data. The large internet retailers can't secure data. NSA can't keep its data in-house. The idea that some Bitcoin startup is going to start doing know-your-customer identification and anti-money laundering, collecting all the privately identifiable information, that is both ridiculous and disastrous. What will happen is that information will leak, and you will lose your privacy once again. Bitcoin does not do identity because that is part of the design. It is actually a very powerful part of the design, because it is the foundation of us having privacy. Anonymity is just another word for human right. Great. Thank you very much for everything today.


What's up guys, my name is Michael and welcome to my YouTube channel today We're going to go over another problem called n steps the number of steps So basically this problem is starting from point zero zero on a plane You write all the non negative numbers of zero one two shown in the figure and then this pattern basically continues So we have zero zero one one two four three three which is five Four four is eight five five nine six six twelve. Yeah, and here we have zero two zero Which is two three one is three four two is six five five three is seven six four is ten seven Five is eleven. Okay, so now our task each test case There's an X and Y representing them for each value in the input right the number written at that point or right None if they're so there's actually not that difficult of a problem I'm going to just explain how to do it now So guys if you were to label each point in like an X and Y axis So we would see that This line is actually if you were to solve this using a slope intercept form Y equals MX plus V rise overrun. So if you do like rise overrun You would actually get the line Y equals to X So this is the line Y equals X and then the second part of this has the exact same slope Except it's just shifted downwards. So if you were to keep continuing going downward and label the rest of these It's actually going to be Y equals X minus two So if we know that whatever coordinate that we pass in the first line and the second line Then that means we're here we can return a number, right? So a number only exists if it's in the first line and it's in the second line If it's not in any of these right then there's no number. So we know that For sure. So now now that we know about this Let's think about how you would solve this problem.  So if they're both even you just add the coordinates together if it's an odd You realize that 1 1 is equal to 1 3 3 because 5 5 5 is equal to 9 you just add them up and subtract by 1, right? So if it's odd if it's even you just add them up if it's odd 1 1 gives you 1 because 1 plus 1 minus 1 is equal to 1, right? So that's the same 3 3 gives you 5 because 3 3 3 plus 3 minus 1 is equal to 5 and Then 5 5 gives you 9 because 5 plus 5 Minus 1 is equal to 9. Okay, so this is the first for the line y equals x Okay, now let's look at the second line y equals to x minus 2 If we look at here, we have 2 0 gives us 2 3 1 gives us 3 4 2 gives us 6 5 3 gives us 7 6 4 gives us 10 7 5 gives us 11 If we look at this line y equals x minus 2, it's the exact same thing, right?  Yeah, and the odd values 3 and 1 Is you add them up and subtract by 1 5 and 3 3 plus 5 is 8 minus 1 is 7 6 plus 7 plus 5 is 12 minus 1 is equal to 11 So yeah, they both follow the same pattern exactly the same pattern So yeah, if you just want to Print the line Having a number at the point or write no number if there's none Basically, you would just plug the numbers in into both of these lines either X and Y Plug the numbers in Y equals X and Y equals X minus 2 If they if either of them work We know it has a number and then we just print out we check If it's both odd if it's odd we add them up and subtract one if they're both even then They are both we just add the X and Y values together Okay, so if the algorithm work will work something like this X Y equals X or Y equals X minus 2 Then it means it has a line right it means that this has a number then there's a number So then we just need to check the number, right? Otherwise, there's no number. So here if it falls in the line this or that Then we check in this case. We have to have another if statement if X and Y are both odd then we just print print X plus Y minus 1 otherwise if X and Y are even print X plus Y Okay, so that's basically a whole algorithm and now I'll actually type it up with you guys because I originally I did this in Java So now I'm gonna do it in C++. I'm gonna read in X and Y So this is gonna be my two values X and Y Okay, so now once I read X and Y. I just need to do check the thing. So we need to check if if they are if both lie in Y equals X or Y equals to X minus 2 so to do that. Let's just plug these values into Y equals X Or so if Y is equal to X That's gonna check the first part of why you equal to X or if Y is equal to X minus 2 Right, they'll they'll check if Y is equal to X minus 2, right? And that means that we have a number, right? Otherwise we have to have to print no number So that's what we do here So now when we have a number we need to check if they're both are even or if they're both are odd. So if one is One is odd. So if X is odd if X and mod 2 is not equal to 0 and Y Mod 2 is not equal to 0 That means they're both odd if they're both odd you just print out X plus Y minus 1 Okay, now we need to check if they are both even so if X mod 2 is equal to 0 and Y mod 2 is equal to 0 Then we're going to print out X plus Y And yeah, that's pretty much the whole algorithm Um Now what we're going to do is we're just going to print uh submit this So here, yeah number of steps. That's the moment of truth. Yeah, and it got accepted So, yeah, that's how you do this problem. It's actually not that difficult a number of steps It's pretty basic Um, it's just you pattern recognition. But yeah Ray com subscribe. I hope you guys enjoyed this video. I'll check you guys later


So here are the three productivity tips that I swear by. The first one is fixing your environment to decrease distractions. Take your phone and put it out of sight so it's out of mind and you don't look at it. Next is using a timer to keep yourself accountable so you know how much studying you've done and how much studying you have left in your studying blog. This can be a really good motivator to push you to complete that hour that you said you were going to do. And lastly breaking down those big tasks into smaller and smaller chunks. When you do that you can start taking things off one at a time. Small pieces chipping away at that larger block. It makes things way easier and keeps your motivation levels really high.


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