 What's up guys so hopefully in this video I'm gonna be highlighting some key aspects of why Bitcoin so important I know many of you been asking me. Hey Mia. Can you show me some real-world examples of how does it benefit us? Well, there's a couple of things. I want to first state number one whenever referred to Bitcoin I'm actually referring to the underlying technology known as blockchain. You've heard of Bitcoin Ethereum Ripple dash Monero all these crypto currencies well these crypto currencies function on the blockchain platform without the blockchain platform These glit these crypto currencies can exist So you have to first understand what Satoshi Nakamoto did about eight years ago with Bitcoin He was able to solve the problem of manipulating code see before him There's nothing stopping me from copying pacing code saying it's five bucks and sending out to multiple people There's no intrinsic value for code through the blockchain. He was able to solve that problem So I can't manipulate code if I send five bitcoins that person I don't have that code anymore that person has it if he sent to somebody he doesn't have it anymore another person has it So now code has intrinsic value when we look at say the blockchain or Bitcoin precisely What it truly does it actually empowers you as an end user because we got to first understand our monetary system currently our Fiat Federal Reserve system. It is a central bank reserve system They tell you what the interest rate is There is no settlement because they function Keynesian economics as opposed to Austrian economics, which kind of Bitcoin is a backbone up So with Keynesian economics, basically what they're doing with the central bank is they control what currency you can use They can print on demand known as quantitative easing They set the interest rate and any given time they can manipulate the currency great book to read his currency wars I'll leave a link below this video So we're at the mercy of the Federal Reserve system this was this central bank that Keep in mind is not backed by gold anymore and keep in mind when they give money to the banks The banks only have to have 10% so-called 10% of what they lend them to so they can lend it out to everybody else So literally $1 can become $10 So it's actually fake money that money doesn't exist and that's why we're trillions and trillions of dollars in debt However with Bitcoin there is no such thing as quantitative easing. There's no such thing as a central bank It's a decentralized system. It's a preset algorithm that sets it to 21 million Bitcoin so in the history of Bitcoin in the near future There's only gonna be 21 million mind Bitcoin and how the algorithm is set. There is no you can't have inflation You can't have print more Bitcoin. You can't control the interest rate You can't control anything is a true decentralized peer-to-peer system that can store value And that's why I consider Bitcoin kind of like digital goal if you look at the history of Bitcoin It's quite fascinating What capabilities it's been doing so far? For example WikiLeaks wouldn't be around today if it wasn't for Bitcoin They shut down all the PayPal's and visas For WikiLeaks with Julian Sange until they start accepting Bitcoin and what Bitcoin does is this it empowers You and I to vote and have more options what I mean by voting is right now You and I don't have any other options to use currencies We use a Federal Reserve currency. We're at the mercy of their interest rate We're at the mercy of devaluation of the currency. We're at the mercy of the banking system. All these oligarchy Cabal type of systems some are good some are bad Okay, it's not you know, let's not just paint it. You know old bad, but some are good but with Bitcoin though is You are your own bank and you set the terms see you can buy Bitcoin have it on your phone And it could be more secure than your bank account through your own voting when I mean by voting is your right to Your right for an action. I can now send money to my cousins around the world I can send money to my business in Hong Kong if I want With you know, I can just pull it up right now Literally with a click of a button So we pull up one of the apps and What's beautiful about this is this Think about all the people around the world for example, Venezuela right now They're going through all the issues with the post socialism and the country is so poor the people are actually Going inside zoos and killing zoo animals for food. You understand It's right now to hell right now on earth in Venezuela and many other Latin American countries and a lot of African countries And obviously they have no currency I know people right now in Venezuela that they're surviving off of Bitcoin All they need is an internet connection and people can help them I can now as long as they have a phone a simple phone They don't even need a phone in fact as long as they have a simple computer with a blockchain address I can send in Bitcoin and they can use that for survival They can use that for to pay whatever they want to pay You see the powerful thing about Bitcoin is you have choices. You have options also brings a question What Edward Snowden talks about privacy. We've seen what he released a couple of years ago They're spying on everything that you do every message that you say in Facebook everything you say in Gmail They're listening to you but with Bitcoin you're voting to have privacy you're voting to have security so if I'm looking you know on my address over here and Let's say I know of an individual in Venezuela or Cambodia or Nigeria that needs help And I know for a fact that they have corrupt banks corrupt governments And it's quite difficult for me to transfer a fee of currency over there I can literally send him in real time He'll get it in 10 15 minutes on his phone and yeah The more people that use it in Cambodia Nigeria the more network effect you get and the more people can create a peer-to-peer Economy and that's the beneficial thing about it because there's nothing stopping from say you and I creating our own currency right now our cryptocurrency called whatever The Toronto currency and people in Toronto vote for it when you buy both for it to use it So let's say we have a million Torontonians decide to use the Toronto cryptocurrency And it's in pretty much only has value in Toronto because we're changing in Toronto that gives us a decentralized power We're not the mercy of say the Federal Reserve system. We're not the mercy of quantitative easing We're not the mercy of if a crash happens look at 2008 with the real estate crash United States going to happen again There's gonna be a bigger global crash You can just see it with interest rates as soon as interest rates are south of a percent that tells you a lot as soon as they Do QE quantitative easing that tells you a lot right now There's a massive currency war going on with the rim and be with Russia With the Eurozone and also with North America. Just pay attention to that But let's pause a pause a second for cryptocurrency. Okay, so just to summarize a It actually gives us a second choice not controlled by the Federal Reserve system But controlled by the network controlled by us because we as a group we gave consensus to use Bitcoin or ether or any other Former cryptocurrency number two a former privacy. It's not 100% private for Bitcoin I would say it's synonymous, but there are other cryptocurrencies that are truly private such as Monero and Zcash That's all different video But what it gives you the option of is it gives you the option of freedom of choice As Milton freedom talks about see I can now send money around the world Not telling people who I am by name. You may know my address You even may figure out the sum I sent but you don't know who I am and that gives power to people You know, we live in a bubble over here in North America We're not under a totalitarian regime such as Iran or even some places in China or in Africa or in Venezuela right now you have to understand that the majority of the world they live in a certain Government society that they don't have the same freedoms that we do over here So it's quite difficult for them to speak up And this is why you're seeing a huge rise in Bitcoin in India because Modi The demonetized two forms of currency or two notes in India and they're doing a hard crackdown on the currency wars right now in India and people are saying hey, I don't want to be part of this system anymore I don't want to be a slave to this. Let me opt into something else that's not controlled by cabal But controlled by the network through our own consensus us voting So if we kind of evolve from there and look at blockchain see what blockchain really does is it creates a system? Where it doesn't matter where you live. It doesn't matter your religion. It doesn't matter your political view You can join a network and join a global peer-to-peer system See the blockchain will able you to have a digital identity That does I don't need to know your name all I know that you are verified on the network as number ABC Whatever letter ABC and that you are participating in a network and you're authentic I don't need to know nothing about you a digital identity cryptocurrency Logistics and above all what matters the most is decentralization You see if we know that there's a server across the street that has all the information I can shut down the power to that server or destroy the server However, with a blockchain it's kind of like bit torrent a little bit but a little bit different Where everybody has the copy of the master copy of the system and it's decentralized So there's no server and this is why I have such high hopes for this technology because let's say we want to go to Venezuela Help people we can go in there set up our own type of cryptocurrency called as one of the Venezuelan coin Create a decentralized network for everybody get everybody around the world to maybe buy in with a bunch of Bitcoin And ether for them and now we can stimulate the Venezuelan coin and it can be Decentralized and it's going to be quite difficult for evil regimes to shut them down So yeah, why is Bitcoin so important? It gives you the power It gives you the option or as Milton Friedman says it gives you the freedom of choice This is power right here and blockchain technology right now. It's just at the beginning. I'm gonna I'm gonna predict this We're gonna see in the future where we're gonna have micro payments online We can pay literally like one penny with a with a cryptocurrency through a smart contract. It takes a second So right now YouTube sometimes pays their if you're a good content creator that they give you share revenue Listen, it's still a platform and they're taking a piece of pie I imagine I have my own platform and if you want to support me You just pay me a couple of cents for every video out of your own cryptocurrency Instantaneously where the world is heading the world is heading away from middlemen people Taking pieces of pie for not really adding value for transactions with blockchain technology I don't need anybody in the middle to tell me you can have this transaction or you can't or I'm gonna take 25% of this Because I just exist with blockchain. We call it a middleman killer. No intermediaries We connect two parties together the mutually do a mutually do a contract together. I provide value You buy the value I get a hundred percent of the value you get a hundred percent of the value as opposed to anybody in The middle and this is why a lot of people trying to figure out what to do with this technology right now A lot of companies are worried and this should be and I think this is an empowering technologies for everybody So my advice to you to get involved a lot of people just they read about it get involved Put your Bitcoin or Ethereum address below. Tell me what next video you want me to make that's the stipulation I'll send you some Bitcoin or Ethereum get involved buy some stuff Amazon's Some stores on Amazon accepting Bitcoin right now Shopify depending on the store you have you can You can download a plug-in for Shopify you can pay by Bitcoin there So slowly stores are accepting Bitcoin, but what I see in the future is I'm seeing a true True reverting back to the old system where we used to do business as individuals as opposed to going grocery stores Where hey if a neighbor's selling something right now I can go there from my phone send him some cryptocurrency and boom I buy the object So we're actually going back to how we were before with tribes and that's what blockchain technology is so great It actually creates tribes and it creates this communal type of community where we all can benefit from each other because of the network effect So I have high hopes for Bitcoin. It's been eight years strong. It's still going it was the first It's always gonna remain the first and if you're not involved in this space get involved because this technology the blockchain technology It's gonna help billions and billions of people around the world. Peace