Blockchain experts discuss the philosophy behind Bitcoin Blockchain experts discuss the philosophy behind Bitcoin

Blockchain experts discuss the philosophy behind Bitcoin

This week Cryptonites rolled out Part 3 of the edutainment channel’s documentary that explores the social impact, technology, and economics of Bitcoin. 

Blockchain experts discuss the philosophy behind Bitcoin

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

In the final chapter of Cryptonites three-part documentary, some of the most prominent figures in the crypto space, including Andreas Antonopoulos, Tone Vays, Roger Huang, and many others, dive into the social implications of Bitcoin and its disruptive and empowering technology.

This final part of the documentary clarifies what experts mean when they say that Bitcoin is creating a new global economy, and more importantly, it breaks down all the reasons one should care, so don’t miss it!

Here are some of the more interesting quotes from the docuseries finale explaining why Bitcoin–created by the people, for the people–is more than just a payment network.

Open to everyone, controlled by no one

“There are no gatekeepers–in the sense of hard gatekeepers–no one can stop you from participating, no one can stop you from running a node, no one can stop you from paying someone in Bitcoin, or receiving something in Bitcoin, or being part of the community, or creating tutorials, and in fact, that behaviour is often times encouraged. That to me is a very powerful concept, because to me, one of the most fascinating parts of decentralization is what it means when you get rid of the hard gatekeepers–the people who say you can’t participate in this political or economic system because of where you are born or arbitrary factor ‘x’ or arbitrary factor ‘y’,” commented Forbes contributor Roger Huang.

Prior to Bitcoin, humans have never owned anything that was unconfiscatable. Throughout history, all governments, whether it was the caste system, or any system before socialism, before communism, there were always incidents of taking away people’s wealth. Anything you have ever owned throughout the history of the planet was always at risk of confiscation by someone with a bigger gun, or someone that can make a law and force you to do something, but so far, in its 10-year history–Bitcoin has proven to be unconfiscatable,” pointed out derivatives trader and consultant Tone Vays.

Revolutionary technology that can change the world

“Bitcoin is not just a minor incremental change, it’s not a payment network. Bitcoin is one of the most fundamental transformations of the basis of money. What is money? Because that becomes the centre of the conversation when you talk about Bitcoin–you realize that the vast majority of people don’t know what money is,” noted Andreas Antonopoulos, expert in Bitcoin and open blockchains.

“Currency wars are obviously solved by Bitcoin, which is the only borderless money on the planet–even though the US dollar is used everywhere. My dad is based in Tehran, Iran, and when Trump imposed an embargo on Iran–one thing that people don’t understand is, you’re not just cutting bank accounts, you’re cutting the entire country out of foreign business. So, my dad lost his job–he had a really good job at an oil company–he lost his job, he lost all of his bank accounts in the US and in Europe because he’s an Iranian citizen, and guess what–the only way that I could send money to my dad–who’s 76, getting old, and can’t take care of himself anymore–was through Bitcoin,” told Alex Fazel, Chief Partnership Officer at Swissborg.