Crypto 101 | VIDEO: Andreas Antonopoulous: Bitcoin Q&A: Irreversibility and consumer protection (4 mins) - Super practical resource here today!! (Other videos inside post also)
Andreas M. Antonopoulos is an early pioneer, adopter & educator in the Bitcoin/Crypto space if you have not heard of him.
He routinely puts out some of the best information going. He speaks plainly and simply with some humour!
-- Andreas' Logo he uses for his branding, he is fun. That is the top of his head, looking down.
LOL.
He travels the world preaching the Bitcoin, Liberty, Crypto and Blockchain gospel and is one of the most well respected lecturers and teachers in the crypto world!
I always include a library of AA's videos in these posts, just like he does in every one of his YT channel videos. These are things for you to use, save, watch, share, and learn from if you have time now or come back to later if you wish. It's here to help you, with extra resources.
--
This resource showed up in my email inbox recently, have a watch, share it with those who are learning.
Follow Andreas & Barry on Twitter:
--
https://twitter.com/aantonop
https://twitter.com/BarryDutton
Published on 6/8/2017
Irreversible transactions and consumer protection. Why would people want irreversible transactions? Will that slow down adoption?
The difference between a system of hard promises which can be softened and a system of soft promises which can't be hardened. We're used to operating in a system of soft promises, where your bank can reverse your transactions whether you ask it to or not. These blockchain system involve hard promises, but Bitcoin and Ethereum do not guarantee that a payment will happen irreversibly -- it guarantees that the contract within the transaction will be executed irreversibly. If that contract says "Without second thought, send this money to here and never look back," that is the contract which is going to be executed irreversibly. But that's not the only contract you can put in there.
Options: 30-day refund payments, third-party escrows, reintroducing counter-party risk. The difference is that the owner of the money is the only one who can reintroduce those constraints. It is an irreversible guarantee that the wishes you expressed as a consumer within your transaction script will get executed, simulating all of the softness that you want. Right now it's too difficult to do those scripts, but that's an engineering problem just a few rounds of incremental innovation away. We can offer more robust, more predictable guarantees for consumer protection than any system of soft promises.
There will be bugs, but you iterate through the bugs.
Andreas with a great quote here!
--
RELATED VIDEOS:
Hardware, Software, Trustware -
He routinely puts out some of the best information going. He speaks plainly and simply with some humour!
-- Andreas' Logo he uses for his branding, he is fun. That is the top of his head, looking down.
LOL.
He travels the world preaching the Bitcoin, Liberty, Crypto and Blockchain gospel and is one of the most well respected lecturers and teachers in the crypto world!
I always include a library of AA's videos in these posts, just like he does in every one of his YT channel videos. These are things for you to use, save, watch, share, and learn from if you have time now or come back to later if you wish. It's here to help you, with extra resources.
--
This resource showed up in my email inbox recently, have a watch, share it with those who are learning.
Follow Andreas & Barry on Twitter:
--
https://twitter.com/aantonop
https://twitter.com/BarryDutton
Published on 6/8/2017
Irreversible transactions and consumer protection. Why would people want irreversible transactions? Will that slow down adoption?
The difference between a system of hard promises which can be softened and a system of soft promises which can't be hardened. We're used to operating in a system of soft promises, where your bank can reverse your transactions whether you ask it to or not. These blockchain system involve hard promises, but Bitcoin and Ethereum do not guarantee that a payment will happen irreversibly -- it guarantees that the contract within the transaction will be executed irreversibly. If that contract says "Without second thought, send this money to here and never look back," that is the contract which is going to be executed irreversibly. But that's not the only contract you can put in there.
Options: 30-day refund payments, third-party escrows, reintroducing counter-party risk. The difference is that the owner of the money is the only one who can reintroduce those constraints. It is an irreversible guarantee that the wishes you expressed as a consumer within your transaction script will get executed, simulating all of the softness that you want. Right now it's too difficult to do those scripts, but that's an engineering problem just a few rounds of incremental innovation away. We can offer more robust, more predictable guarantees for consumer protection than any system of soft promises.
There will be bugs, but you iterate through the bugs.
Andreas with a great quote here!
--
RELATED VIDEOS:
Hardware, Software, Trustware -
-- Andreas' Logo he uses for his branding, he is fun. That is the top of his head, looking down.
LOL.
He travels the world preaching the Bitcoin, Liberty, Crypto and Blockchain gospel and is one of the most well respected lecturers and teachers in the crypto world!
I always include a library of AA's videos in these posts, just like he does in every one of his YT channel videos. These are things for you to use, save, watch, share, and learn from if you have time now or come back to later if you wish. It's here to help you, with extra resources.
--
This resource showed up in my email inbox recently, have a watch, share it with those who are learning.
Follow Andreas & Barry on Twitter:
--
https://twitter.com/aantonop
https://twitter.com/BarryDutton
Published on 6/8/2017
Irreversible transactions and consumer protection. Why would people want irreversible transactions? Will that slow down adoption?
The difference between a system of hard promises which can be softened and a system of soft promises which can't be hardened. We're used to operating in a system of soft promises, where your bank can reverse your transactions whether you ask it to or not. These blockchain system involve hard promises, but Bitcoin and Ethereum do not guarantee that a payment will happen irreversibly -- it guarantees that the contract within the transaction will be executed irreversibly. If that contract says "Without second thought, send this money to here and never look back," that is the contract which is going to be executed irreversibly. But that's not the only contract you can put in there.
Options: 30-day refund payments, third-party escrows, reintroducing counter-party risk. The difference is that the owner of the money is the only one who can reintroduce those constraints. It is an irreversible guarantee that the wishes you expressed as a consumer within your transaction script will get executed, simulating all of the softness that you want. Right now it's too difficult to do those scripts, but that's an engineering problem just a few rounds of incremental innovation away. We can offer more robust, more predictable guarantees for consumer protection than any system of soft promises.
There will be bugs, but you iterate through the bugs.
Andreas with a great quote here!
--
RELATED VIDEOS:
Hardware, Software, Trustware -
--
RELATED VIDEOS:
Hardware, Software, Trustware -
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Ethereum, ICOs, and Rocket Science -
Investing in Education instead of Speculation -
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The token ICO explosion -
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Irreversibility and consumer protection -
How much bitcoin do you have? -
TheDao: Why failure is necessary for learning -
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Even More:
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The separation of money and state -
The separation of money and state -
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RELATED:
Why we should worry about optimisation, not scaling -
The Lightning Network -
Lightning, full nodes, and miners -
Bitcoin, Lightning, and Streaming Money -
Rules vs. Rulers -
The Scaling Rites of Passage -
Altcoins and the scaling debate -
Unlimited vs. Cypherpunks -
QUESTION & ANSWER:
Scaling is a moving target -
ICOs and financial regulation -
RELATED:
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What happens to our bitcoins during a hard fork? -
The dangers of hard forks in protocol evolution -
Hard forks and the cultural mulligan -
Open source as cross-pollination & consensus through collaboration -
The Lion and the Shark: Divergent Evolution in Cryptocurrency -
Bitcoin: A new species of money - an evolutionary perspective on currency -
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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.
--
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Mon...
MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bi...
Thanks for reading, have a nice day.
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Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
--
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Mon...
MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bi...
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
Most stock Images / Gif's day to day- usually via Giphy.com , Funny or Die.com, Imgur.com, PixaBay unless otherwise noted, with thanks.
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
--
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
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Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
--
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
EOS (EOS) - 0xD37bEFf5bf07E3aa432de00cE0AaA8df603A4fB0
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DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
I love his videos
#CryptoYoda
(:
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Title misspelled his last name.