Banking.On.Bitcoin.2016.1080p.WEBRip.x264.AAC5.1-[YTS.MX] Subtitles
📝 Subtitle Preview
00:00:02,000 --> 00:00:07,Downloaded from
YTS.MX
00:00:08,000 --> 00:00:13,Official YIFY movies site:
YTS.MX
00:00:28,396 --> 00:00:31,[MUSIC PLAYING]
00:00:52,186 --> 00:00:53,I REALLY LIKE IT
DOWN HERE.
00:00:53,654 --> 00:00:55,I LIVE LITERALLY RIGHT BY
THE WORLD TRADE CENTER.
00:00:55,556 --> 00:00:58,I WALK HOME.
I LIVE ABOVE IT, ACTUALLY.
00:01:02,563 --> 00:01:03,MY ANKLE BRACELET.
00:01:05,299 --> 00:01:06,TELLS THE GOVERNMENT
WHERE I **
00:01:06,900 --> 00:01:09,EVERY SECOND OF THE DAY,
00:01:09,837 --> 00:01:11,ANY TIME OF THE DAY.
00:01:11,639 --> 00:01:14,BUT IT'S GONNA COME OFF
WHEN I GO TO PRISON, I THINK.
00:01:14,708 --> 00:01:17,I MEAN, I DON'T THINK
I'M WEARING THIS IN PRISON,
SO...
00:01:17,178 --> 00:01:19,THAT'S WHAT
THE PLAN IS FOR THAT.
00:01:20,348 --> 00:01:23,[MUSIC PLAYING]
00:01:42,270 --> 00:01:45,[BRIAN WILLIAMS]
CLOSING NUMBERS
ON THE MARKETS TODAY,
00:01:45,606 --> 00:01:49,AT ONE POINT, THE MARKET
FELL AS IF DOWN A WELL.
00:01:49,877 --> 00:01:51,[NEWSCASTER]
IT WAS AN HISTORIC DAY,
00:01:51,445 --> 00:01:54,WITH WALL STREET SHAKEN
TO ITS VERY FOUNDATION.
00:01:54,482 --> 00:01:57,AND EVEN THE HEALTH
OF THE MOST TRUSTED FIRMS
00:01:57,585 --> 00:01:59,ARE NOW BEING
CALLED INTO QUESTION.
00:01:59,387 --> 00:02:01,[RAND PAUL]
WE HAVE FORMER
SECRETARIES OF TREASURY
00:02:01,922 --> 00:02:03,WHO GO FROM GOVERNMENT
TO WALL STREET
00:02:03,857 --> 00:02:06,POCKETING HUNDREDS
OF MILLIONS OF DOLLARS.
00:02:08,762 --> 00:02:10,[ERIK VOORHEES]
IN 2008, I BECAME
SOMEWHAT OBSESSED
00:02:10,931 --> 00:02:15,WITH THE ROLE
THAT MONEY ITSELF PLAYED
IN THE CRISIS
00:02:15,269 --> 00:02:17,AND THE ROLE THAT GOVERNMENTS
AND BANKS PLAYED IN MONEY,
00:02:17,405 --> 00:02:20,AND WHY WAS IT
THAT OUR MONEY WAS CONTROLLED
BY CENTRAL BANKS?
00:02:23,577 --> 00:02:25,[GAVIN ANDRESEN]
IF SOMETHING NEW HAPPENS,
00:02:25,313 --> 00:02:27,IS THE GOVERNMENT
LIKELY TO GIVE IT A NOD
00:02:27,948 --> 00:02:29,OR AT LEAST IGNORE IT FOR A
WHILE, OR IS THE GOVERNMENT
00:02:29,950 --> 00:02:31,LIKELY TO COME DOWN
AND TRY TO CRUSH IT
00:02:31,685 --> 00:02:34,BECAUSE THEY'RE AFRAID
OF ANYTHING NEW AND DIFFERENT?
00:02:35,856 --> 00:02:39,[NICK SPANOS]
THIS IS A MONETARY
REVOLUTION.
00:02:39,760 --> 00:02:42,BITCOIN IS
THE HONEST CURRENCY.
00:03:06,354 --> 00:03:09,[QUIET CHATTER]
00:03:09,523 --> 00:03:10,[NANCY CANNUCCIARI]
OKAY, THIS PAST WEEK
00:03:10,691 --> 00:03:12,WE'VE BEEN TALKING
ABOUT MONEY.
00:03:13,026 --> 00:03:15,I'M GONNA ASK EVERYBODY
WHAT YOU THINK MONEY IS.
00:03:15,763 --> 00:03:17,CAN YOU GIVE ME
SOME ANSWERS NOW?
00:03:17,865 --> 00:03:21,MONEY IS, LIKE, PAPER
00:03:21,702 --> 00:03:23,AND YOU CAN, LIKE,
BUY STUFF WITH IT.
00:03:23,837 --> 00:03:26,SO YOU HAVE TO HAVE, LIKE,
FOUR QUARTERS FOR A DOLLAR.
00:03:26,940 --> 00:03:29,YOU NEED MONEY TO BUY
YOUR HOUSE, LIKE, FOOD,
00:03:30,010 --> 00:03:33,WATER, OXYGEN--
NOT OXYGEN.
00:03:35,783 --> 00:03:38,[PAUL VIGNA]
MONEY IS BASICALLY JUST
AN ACCOUNTING SYSTEM.
00:03:38,552 --> 00:03:41,IT IS A WAY OF RECORDING
WHO OWNS WHAT,
00:03:41,489 --> 00:03:43,WHO HAS WHAT,
WHO OWES WHAT TO WHOM.
00:03:43,857 --> 00:03:46,THAT IS ALL MONEY REALLY IS.
00:03:46,594 --> 00:03:48,AND YOU NEEDED SOMEBODY
00:03:48,896 --> 00:03:50,WHO COULD STAND AS
THE CENTRAL ISSUER,
00:03:50,998 --> 00:03:53,SOMEBODY WHO WAS
THE TRUSTED THIRD PARTY,
00:03:53,434 --> 00:03:56,SOMEONE WHO COULD GUARANTEE
THAT THE MONEY WAS REAL.
00:03:56,770 --> 00:03:58,AND FOR
HUNDREDS OF YEARS NOW,
00:03:58,472 --> 00:04:00,WE HAVE HAD
GOVERNMENTS ISSUE MONEY.
00:04:00,741 --> 00:04:03,AGAIN, MONEY IS JUST
AN ACCOUNTING SYSTEM.
00:04:03,977 --> 00:04:05,THAT'S WHAT BITCOIN IS.
00:04:05,579 --> 00:04:07,BITCOIN IS REALLY JUST
AN ACCOUNTING SYSTEM.
00:04:07,315 --> 00:04:09,IT IS A WAY OF
RECORDING TRANSACTIONS,
00:04:09,983 --> 00:04:11,RECORDING VALUE,
00:04:11,585 --> 00:04:12,AND IT DOES IT DIGITALLY,
00:04:12,920 --> 00:04:14,SO YOU AND I CAN SEND IT
TO EACH OTHER DIRECTLY,
00:04:14,822 --> 00:04:17,AND EVERYTHING IS RECORDED
IN THE OPEN LEDGER.
00:04:17,558 --> 00:04:20,[MICHAEL CASEY]
BY MONITORING AND
UPDATING THAT LEDGER,
00:04:20,661 --> 00:04:23,IN A COLLECTIVE,
CONSENSUS-BASED SYSTEM,
00:04:23,564 --> 00:04:24,YOU DO AWAY WITH THE NEED
00:04:25,032 --> 00:04:26,FOR SOMEBODY IN THE MIDDLE
HAVING TO BE
00:04:26,934 --> 00:04:29,THAT SORT OF REPOSITORY
OF ALL THE INFORMATION.
00:04:29,102 --> 00:04:31,AND THAT'S WHAT GETS AWAY
FROM THE FEES,
00:04:31,839 --> 00:04:33,THE INEFFICIENCIES,
00:04:33,541 --> 00:04:36,AND ULTIMATELY THE POTENTIAL
FOR CORRUPTION AND RISK
00:04:36,944 --> 00:04:40,THAT COME WITH CENTRALIZING
INFORMATION IN THAT WAY.
00:04:42,450 --> 00:04:43,[VIGNA]
WHAT IT DOES IS IT TAKES
00:04:43,784 --> 00:04:46,THAT TRUSTED
THIRD PARTY FUNCTION
00:04:46,554 --> 00:04:48,AND IT AUTOMATES IT.
00:04:48,356 --> 00:04:51,IT PUTS IT
INTO AN OPEN LEDGER
THAT IS PUT ONLINE
00:04:51,625 --> 00:04:53,THAT IS THERE
FOR ANYBODY TO SEE,
00:04:53,561 --> 00:04:56,SO THAT EVERY BITCOIN
IS ACCOUNTED FOR,
00:04:56,129 --> 00:04:59,SO THAT YOU KNOW
THAT YOU'RE NOT GETTING
A COUNTERFEIT BITCOIN.
00:04:59,833 --> 00:05:02,[NATHANIEL POPPER]
IT'S KIND OF REMARKABLE
THAT THIS IDEA OF BITCOIN
00:05:02,803 --> 00:05:04,WAS LAUNCHED
JUST A FEW WEEKS
00:05:04,838 --> 00:05:07,AFTER LEHMAN BROTHERS
WENT BANKRUPT
00:05:07,475 --> 00:05:10,AND THE WHOLE SYSTEM
NEARLY COLLAPSED.
00:05:10,077 --> 00:05:14,AND THE PROBLEMS
THAT CROPPED UP IN THE CRISIS
00:05:14,114 --> 00:05:18,WERE VERY MUCH
A PART OF THE WRITINGS
OF SATOSHI NAKAMOTO.
00:05:18,552 --> 00:05:20,I THINK WHAT THE CRISIS
SHOWED IS THAT
00:05:20,688 --> 00:05:24,THE EXISTING SYSTEM
HAD SOME MAJOR FLAWS.
00:05:24,425 --> 00:05:27,IT WASN'T WORKING
AND PEOPLE WERE HUNGRY
00:05:27,094 --> 00:05:28,FOR SOME SORT
OF ALTERNATIVE.
00:05:36,504 --> 00:05:37,[VOORHEES]
I DISCOVERED BITCOIN'S POWER
00:05:37,871 --> 00:05:39,WHEN I UNDERSTOOD
FOR THE FIRST TIME
00:05:39,773 --> 00:05:41,THAT IT WAS NOT CONTROLLED
00:05:41,108 --> 00:05:43,BY A CENTRAL COMPANY
OR A CENTRAL PERSON.
00:05:43,143 --> 00:05:45,BECAUSE I KNEW THAT MEANT
IT COULDN'T BE SHUT DOWN.
00:05:45,513 --> 00:05:47,AND IF IT CAN'T
GET SHUT DOWN,
00:05:47,147 --> 00:05:49,ALL IT NEEDS IS
TO DO SOMETHING USEFUL,
00:05:49,517 --> 00:05:51,AND IT WILL BECOME
MORE AND MORE ADOPTED
00:05:51,519 --> 00:05:52,AND AS THE VALUE GROWS,
PEOPLE WILL FIND
00:05:52,820 --> 00:05:54,MORE AND MORE USES FOR IT.
00:05:54,622 --> 00:05:56,[SPANOS]
THE BEAUTY OF BITCOIN IS,
00:05:56,490 --> 00:05:58,IT'S EASILY TRANSFERRABLE,
IT'S ANONYMOUS.
00:05:58,626 --> 00:06:01,AND BY THERE'S GONNA BE 21 MILLION,
00:06:01,929 --> 00:06:03,AND THAT'S THE CAP.
00:06:03,096 --> 00:06:05,THERE'S ONLY
X AMOUNT OF GOLD.
00:06:06,033 --> 00:06:08,THERE'S ONLY X AMOUNT
OF BITCOIN.
00:06:08,869 --> 00:06:10,[ANDRESEN]
BEFORE, IF YOU WANTED
TO SEND
00:06:10,938 --> 00:06:12,SOMETHING OF VALUE
ACROSS THE INTERNET,
00:06:12,873 --> 00:06:14,YOU HAD TO GET
SOMEBODY ELSE INVOLVED.
00:06:14,808 --> 00:06:16,YOU HAD TO HAVE
A CREDIT CARD COMPANY
00:06:16,810 --> 00:06:19,OR PAYPAL,
OR MAYBE A BANK
00:06:19,913 --> 00:06:21,INVOLVED
IN THE TRANSACTION.
00:06:21,849 --> 00:06:23,THE PROMISE OF BITCOIN
IS THAT
00:06:23,684 --> 00:06:28,YOU'RE DIRECTLY SENDING
THIS CURRENCY TO ANOTHER PERSON
00:06:28,489 --> 00:06:30,AND THEN
THE BITCOIN NETWORK
00:06:30,458 --> 00:06:32,PERFORMS THE FUNCTION
THAT NORMALLY PAYPAL
00:06:32,760 --> 00:06:35,OR A BANK OR
YOUR CREDIT CARD COMPANY
WOULD PERFORM.
00:06:35,796 --> 00:06:39,BITCOIN REALLY
PUTS THE CONTROL BACK
IN THE HANDS OF EVERYBODY.
00:06:39,467 --> 00:06:41,EVERYBODY WHO'S PARTICIPATING
IN THE BITCOIN SYSTEM
00:06:41,969 --> 00:06:43,IS CONTROLLING
HOW IT WORKS.
00:06:51,945 --> 00:06:53,[JEFFERY TUCKER]
IF YOU WANT TO LOOK
FOR THE GENESIS
00:06:53,781 --> 00:06:56,OF CRYPTOCURRENCY,
IT WAS THE CYPHERPUNK
MOVEMENT,
00:06:56,717 --> 00:06:58,YOU KNOW, GROWING OUT
OF A KIND OF A LOVE
OF THE INTERNET
00:06:58,886 --> 00:07:00,AND ITS POSSIBILITIES.
00:07:00,521 --> 00:07:03,THE DISCOVERING
OF CRYPTOGRAPHY AND IMAGINING
00:07:03,090 --> 00:07:07,THAT YOU COULD GIVE BIRTH
TO A NEW WORLD, REALLY,
00:07:07,861 --> 00:07:09,OUT OF THE INTERNET.
00:07:09,730 --> 00:07:11,A WORLD THAT LIVES OUTSIDE
OF THE NATION-STATE,
00:07:11,799 --> 00:07:14,AND OUTSIDE THE STRUCTURES
OF POWER AND THE HIERARCHIES
00:07:14,167 --> 00:07:15,THAT ARE ASSOCIATED
WITH THAT.
00:07:15,969 --> 00:07:18,[ALEX WINTER]
THESE PEOPLE HAD TALKED
ABOUT THE NEED
00:07:18,171 --> 00:07:20,AND THE POSSIBILITY
FOR A DIGITAL CURRENCY
00:07:20,541 --> 00:07:22,THAT WAS ANONYMOUS
OR COULD BE ANONYMIZED,
00:07:22,510 --> 00:07:24,USING CRYPTOGRAPHY.
00:07:24,144 --> 00:07:26,THE CYPHERPUNKS THAT EMERGED
IN THE EARLY '90S
00:07:26,814 --> 00:07:29,WERE HYPER-CONCERNED
ABOUT PRIVACY,
00:07:29,950 --> 00:07:31,ABOUT PERSONAL LIBERTY,
136...
YTS.MX
00:00:08,000 --> 00:00:13,Official YIFY movies site:
YTS.MX
00:00:28,396 --> 00:00:31,[MUSIC PLAYING]
00:00:52,186 --> 00:00:53,I REALLY LIKE IT
DOWN HERE.
00:00:53,654 --> 00:00:55,I LIVE LITERALLY RIGHT BY
THE WORLD TRADE CENTER.
00:00:55,556 --> 00:00:58,I WALK HOME.
I LIVE ABOVE IT, ACTUALLY.
00:01:02,563 --> 00:01:03,MY ANKLE BRACELET.
00:01:05,299 --> 00:01:06,TELLS THE GOVERNMENT
WHERE I **
00:01:06,900 --> 00:01:09,EVERY SECOND OF THE DAY,
00:01:09,837 --> 00:01:11,ANY TIME OF THE DAY.
00:01:11,639 --> 00:01:14,BUT IT'S GONNA COME OFF
WHEN I GO TO PRISON, I THINK.
00:01:14,708 --> 00:01:17,I MEAN, I DON'T THINK
I'M WEARING THIS IN PRISON,
SO...
00:01:17,178 --> 00:01:19,THAT'S WHAT
THE PLAN IS FOR THAT.
00:01:20,348 --> 00:01:23,[MUSIC PLAYING]
00:01:42,270 --> 00:01:45,[BRIAN WILLIAMS]
CLOSING NUMBERS
ON THE MARKETS TODAY,
00:01:45,606 --> 00:01:49,AT ONE POINT, THE MARKET
FELL AS IF DOWN A WELL.
00:01:49,877 --> 00:01:51,[NEWSCASTER]
IT WAS AN HISTORIC DAY,
00:01:51,445 --> 00:01:54,WITH WALL STREET SHAKEN
TO ITS VERY FOUNDATION.
00:01:54,482 --> 00:01:57,AND EVEN THE HEALTH
OF THE MOST TRUSTED FIRMS
00:01:57,585 --> 00:01:59,ARE NOW BEING
CALLED INTO QUESTION.
00:01:59,387 --> 00:02:01,[RAND PAUL]
WE HAVE FORMER
SECRETARIES OF TREASURY
00:02:01,922 --> 00:02:03,WHO GO FROM GOVERNMENT
TO WALL STREET
00:02:03,857 --> 00:02:06,POCKETING HUNDREDS
OF MILLIONS OF DOLLARS.
00:02:08,762 --> 00:02:10,[ERIK VOORHEES]
IN 2008, I BECAME
SOMEWHAT OBSESSED
00:02:10,931 --> 00:02:15,WITH THE ROLE
THAT MONEY ITSELF PLAYED
IN THE CRISIS
00:02:15,269 --> 00:02:17,AND THE ROLE THAT GOVERNMENTS
AND BANKS PLAYED IN MONEY,
00:02:17,405 --> 00:02:20,AND WHY WAS IT
THAT OUR MONEY WAS CONTROLLED
BY CENTRAL BANKS?
00:02:23,577 --> 00:02:25,[GAVIN ANDRESEN]
IF SOMETHING NEW HAPPENS,
00:02:25,313 --> 00:02:27,IS THE GOVERNMENT
LIKELY TO GIVE IT A NOD
00:02:27,948 --> 00:02:29,OR AT LEAST IGNORE IT FOR A
WHILE, OR IS THE GOVERNMENT
00:02:29,950 --> 00:02:31,LIKELY TO COME DOWN
AND TRY TO CRUSH IT
00:02:31,685 --> 00:02:34,BECAUSE THEY'RE AFRAID
OF ANYTHING NEW AND DIFFERENT?
00:02:35,856 --> 00:02:39,[NICK SPANOS]
THIS IS A MONETARY
REVOLUTION.
00:02:39,760 --> 00:02:42,BITCOIN IS
THE HONEST CURRENCY.
00:03:06,354 --> 00:03:09,[QUIET CHATTER]
00:03:09,523 --> 00:03:10,[NANCY CANNUCCIARI]
OKAY, THIS PAST WEEK
00:03:10,691 --> 00:03:12,WE'VE BEEN TALKING
ABOUT MONEY.
00:03:13,026 --> 00:03:15,I'M GONNA ASK EVERYBODY
WHAT YOU THINK MONEY IS.
00:03:15,763 --> 00:03:17,CAN YOU GIVE ME
SOME ANSWERS NOW?
00:03:17,865 --> 00:03:21,MONEY IS, LIKE, PAPER
00:03:21,702 --> 00:03:23,AND YOU CAN, LIKE,
BUY STUFF WITH IT.
00:03:23,837 --> 00:03:26,SO YOU HAVE TO HAVE, LIKE,
FOUR QUARTERS FOR A DOLLAR.
00:03:26,940 --> 00:03:29,YOU NEED MONEY TO BUY
YOUR HOUSE, LIKE, FOOD,
00:03:30,010 --> 00:03:33,WATER, OXYGEN--
NOT OXYGEN.
00:03:35,783 --> 00:03:38,[PAUL VIGNA]
MONEY IS BASICALLY JUST
AN ACCOUNTING SYSTEM.
00:03:38,552 --> 00:03:41,IT IS A WAY OF RECORDING
WHO OWNS WHAT,
00:03:41,489 --> 00:03:43,WHO HAS WHAT,
WHO OWES WHAT TO WHOM.
00:03:43,857 --> 00:03:46,THAT IS ALL MONEY REALLY IS.
00:03:46,594 --> 00:03:48,AND YOU NEEDED SOMEBODY
00:03:48,896 --> 00:03:50,WHO COULD STAND AS
THE CENTRAL ISSUER,
00:03:50,998 --> 00:03:53,SOMEBODY WHO WAS
THE TRUSTED THIRD PARTY,
00:03:53,434 --> 00:03:56,SOMEONE WHO COULD GUARANTEE
THAT THE MONEY WAS REAL.
00:03:56,770 --> 00:03:58,AND FOR
HUNDREDS OF YEARS NOW,
00:03:58,472 --> 00:04:00,WE HAVE HAD
GOVERNMENTS ISSUE MONEY.
00:04:00,741 --> 00:04:03,AGAIN, MONEY IS JUST
AN ACCOUNTING SYSTEM.
00:04:03,977 --> 00:04:05,THAT'S WHAT BITCOIN IS.
00:04:05,579 --> 00:04:07,BITCOIN IS REALLY JUST
AN ACCOUNTING SYSTEM.
00:04:07,315 --> 00:04:09,IT IS A WAY OF
RECORDING TRANSACTIONS,
00:04:09,983 --> 00:04:11,RECORDING VALUE,
00:04:11,585 --> 00:04:12,AND IT DOES IT DIGITALLY,
00:04:12,920 --> 00:04:14,SO YOU AND I CAN SEND IT
TO EACH OTHER DIRECTLY,
00:04:14,822 --> 00:04:17,AND EVERYTHING IS RECORDED
IN THE OPEN LEDGER.
00:04:17,558 --> 00:04:20,[MICHAEL CASEY]
BY MONITORING AND
UPDATING THAT LEDGER,
00:04:20,661 --> 00:04:23,IN A COLLECTIVE,
CONSENSUS-BASED SYSTEM,
00:04:23,564 --> 00:04:24,YOU DO AWAY WITH THE NEED
00:04:25,032 --> 00:04:26,FOR SOMEBODY IN THE MIDDLE
HAVING TO BE
00:04:26,934 --> 00:04:29,THAT SORT OF REPOSITORY
OF ALL THE INFORMATION.
00:04:29,102 --> 00:04:31,AND THAT'S WHAT GETS AWAY
FROM THE FEES,
00:04:31,839 --> 00:04:33,THE INEFFICIENCIES,
00:04:33,541 --> 00:04:36,AND ULTIMATELY THE POTENTIAL
FOR CORRUPTION AND RISK
00:04:36,944 --> 00:04:40,THAT COME WITH CENTRALIZING
INFORMATION IN THAT WAY.
00:04:42,450 --> 00:04:43,[VIGNA]
WHAT IT DOES IS IT TAKES
00:04:43,784 --> 00:04:46,THAT TRUSTED
THIRD PARTY FUNCTION
00:04:46,554 --> 00:04:48,AND IT AUTOMATES IT.
00:04:48,356 --> 00:04:51,IT PUTS IT
INTO AN OPEN LEDGER
THAT IS PUT ONLINE
00:04:51,625 --> 00:04:53,THAT IS THERE
FOR ANYBODY TO SEE,
00:04:53,561 --> 00:04:56,SO THAT EVERY BITCOIN
IS ACCOUNTED FOR,
00:04:56,129 --> 00:04:59,SO THAT YOU KNOW
THAT YOU'RE NOT GETTING
A COUNTERFEIT BITCOIN.
00:04:59,833 --> 00:05:02,[NATHANIEL POPPER]
IT'S KIND OF REMARKABLE
THAT THIS IDEA OF BITCOIN
00:05:02,803 --> 00:05:04,WAS LAUNCHED
JUST A FEW WEEKS
00:05:04,838 --> 00:05:07,AFTER LEHMAN BROTHERS
WENT BANKRUPT
00:05:07,475 --> 00:05:10,AND THE WHOLE SYSTEM
NEARLY COLLAPSED.
00:05:10,077 --> 00:05:14,AND THE PROBLEMS
THAT CROPPED UP IN THE CRISIS
00:05:14,114 --> 00:05:18,WERE VERY MUCH
A PART OF THE WRITINGS
OF SATOSHI NAKAMOTO.
00:05:18,552 --> 00:05:20,I THINK WHAT THE CRISIS
SHOWED IS THAT
00:05:20,688 --> 00:05:24,THE EXISTING SYSTEM
HAD SOME MAJOR FLAWS.
00:05:24,425 --> 00:05:27,IT WASN'T WORKING
AND PEOPLE WERE HUNGRY
00:05:27,094 --> 00:05:28,FOR SOME SORT
OF ALTERNATIVE.
00:05:36,504 --> 00:05:37,[VOORHEES]
I DISCOVERED BITCOIN'S POWER
00:05:37,871 --> 00:05:39,WHEN I UNDERSTOOD
FOR THE FIRST TIME
00:05:39,773 --> 00:05:41,THAT IT WAS NOT CONTROLLED
00:05:41,108 --> 00:05:43,BY A CENTRAL COMPANY
OR A CENTRAL PERSON.
00:05:43,143 --> 00:05:45,BECAUSE I KNEW THAT MEANT
IT COULDN'T BE SHUT DOWN.
00:05:45,513 --> 00:05:47,AND IF IT CAN'T
GET SHUT DOWN,
00:05:47,147 --> 00:05:49,ALL IT NEEDS IS
TO DO SOMETHING USEFUL,
00:05:49,517 --> 00:05:51,AND IT WILL BECOME
MORE AND MORE ADOPTED
00:05:51,519 --> 00:05:52,AND AS THE VALUE GROWS,
PEOPLE WILL FIND
00:05:52,820 --> 00:05:54,MORE AND MORE USES FOR IT.
00:05:54,622 --> 00:05:56,[SPANOS]
THE BEAUTY OF BITCOIN IS,
00:05:56,490 --> 00:05:58,IT'S EASILY TRANSFERRABLE,
IT'S ANONYMOUS.
00:05:58,626 --> 00:06:01,AND BY THERE'S GONNA BE 21 MILLION,
00:06:01,929 --> 00:06:03,AND THAT'S THE CAP.
00:06:03,096 --> 00:06:05,THERE'S ONLY
X AMOUNT OF GOLD.
00:06:06,033 --> 00:06:08,THERE'S ONLY X AMOUNT
OF BITCOIN.
00:06:08,869 --> 00:06:10,[ANDRESEN]
BEFORE, IF YOU WANTED
TO SEND
00:06:10,938 --> 00:06:12,SOMETHING OF VALUE
ACROSS THE INTERNET,
00:06:12,873 --> 00:06:14,YOU HAD TO GET
SOMEBODY ELSE INVOLVED.
00:06:14,808 --> 00:06:16,YOU HAD TO HAVE
A CREDIT CARD COMPANY
00:06:16,810 --> 00:06:19,OR PAYPAL,
OR MAYBE A BANK
00:06:19,913 --> 00:06:21,INVOLVED
IN THE TRANSACTION.
00:06:21,849 --> 00:06:23,THE PROMISE OF BITCOIN
IS THAT
00:06:23,684 --> 00:06:28,YOU'RE DIRECTLY SENDING
THIS CURRENCY TO ANOTHER PERSON
00:06:28,489 --> 00:06:30,AND THEN
THE BITCOIN NETWORK
00:06:30,458 --> 00:06:32,PERFORMS THE FUNCTION
THAT NORMALLY PAYPAL
00:06:32,760 --> 00:06:35,OR A BANK OR
YOUR CREDIT CARD COMPANY
WOULD PERFORM.
00:06:35,796 --> 00:06:39,BITCOIN REALLY
PUTS THE CONTROL BACK
IN THE HANDS OF EVERYBODY.
00:06:39,467 --> 00:06:41,EVERYBODY WHO'S PARTICIPATING
IN THE BITCOIN SYSTEM
00:06:41,969 --> 00:06:43,IS CONTROLLING
HOW IT WORKS.
00:06:51,945 --> 00:06:53,[JEFFERY TUCKER]
IF YOU WANT TO LOOK
FOR THE GENESIS
00:06:53,781 --> 00:06:56,OF CRYPTOCURRENCY,
IT WAS THE CYPHERPUNK
MOVEMENT,
00:06:56,717 --> 00:06:58,YOU KNOW, GROWING OUT
OF A KIND OF A LOVE
OF THE INTERNET
00:06:58,886 --> 00:07:00,AND ITS POSSIBILITIES.
00:07:00,521 --> 00:07:03,THE DISCOVERING
OF CRYPTOGRAPHY AND IMAGINING
00:07:03,090 --> 00:07:07,THAT YOU COULD GIVE BIRTH
TO A NEW WORLD, REALLY,
00:07:07,861 --> 00:07:09,OUT OF THE INTERNET.
00:07:09,730 --> 00:07:11,A WORLD THAT LIVES OUTSIDE
OF THE NATION-STATE,
00:07:11,799 --> 00:07:14,AND OUTSIDE THE STRUCTURES
OF POWER AND THE HIERARCHIES
00:07:14,167 --> 00:07:15,THAT ARE ASSOCIATED
WITH THAT.
00:07:15,969 --> 00:07:18,[ALEX WINTER]
THESE PEOPLE HAD TALKED
ABOUT THE NEED
00:07:18,171 --> 00:07:20,AND THE POSSIBILITY
FOR A DIGITAL CURRENCY
00:07:20,541 --> 00:07:22,THAT WAS ANONYMOUS
OR COULD BE ANONYMIZED,
00:07:22,510 --> 00:07:24,USING CRYPTOGRAPHY.
00:07:24,144 --> 00:07:26,THE CYPHERPUNKS THAT EMERGED
IN THE EARLY '90S
00:07:26,814 --> 00:07:29,WERE HYPER-CONCERNED
ABOUT PRIVACY,
00:07:29,950 --> 00:07:31,ABOUT PERSONAL LIBERTY,
136...
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