DW Dokumentär kryptovalutor

dw dokumentär kryptovalutor

En hyllad Deutche Welle (DW) dokumentär om kryptovalutor

0:05 I had an idea an idea that just wouldn’t

0:09 let me go until I programmed it

0:14 my name is Satoshi Nakamoto you don’t

0:17 know me not yet

0:19 but my invention will change your life

0:25 [Music]

0:35 by linking all computers our lives were

0:38 digitalized reduced to a set of data

0:41 that need only be collected and analyzed

0:43 every word every gesture every

0:45 transaction

0:47 the internet was transformed from a

0:49 window onto the world into a means of

0:51 control

0:53 a new economy was emerging

0:55 we would be its raw material

0:59 this new world would upend everything

1:00 our Communications our rights our

1:03 privacy

1:05 in the era of self-style promotion

1:07 privacy is a revolutionary act

1:09 regardless of whether there is something

1:11 to hide or not privacy is not secrecy A

1:14 Private Matter is something you don’t

1:15 want the world to know a secret is

1:17 something you don’t want anybody to know

1:20 privacy is the power to selectively

1:22 reveal oneself to the world

1:24 freedom

1:27 with the growth of the internet it

1:29 became necessary for everyone to have

1:31 access to strong encryption

1:36 cryptography is the art of scrambling

1:39 information to make it unintelligible

1:41 except to those that have the right key

1:43 to unscramble it so governments form

1:47 their opinion about cryptography as a

1:49 consequence of how pivotal it was to the

1:51 outcome of World War II the government

1:53 regarded it as a munition

1:56 and restricted its export

2:01 [Music]

2:03 the cypherpunks a group of activists in

2:07 the in the San Francisco Bay Area were

2:09 quite interested in promoting strong

2:11 encryption

2:13 for us cypherpunks freedom is

2:15 non-negotiable it tops everything

2:17 freedom is our struggle Eric Hughes said

2:20 it in his Manifesto back in 1993.

2:24 privacy is necessary for an open Society

2:27 in the electronic age

2:29 we cannot expect governments

2:31 corporations or other large faceless

2:32 organizations to grant us privacy out of

2:35 their beneficence

2:36 cyberpunks write code

2:38 we know that someone has to write

2:40 software to defend privacy and since we

2:43 can’t get privacy unless we all do we’re

2:45 going to write it

2:47 they believe that true human expression

2:50 is really only possible when you can

2:54 protect your anonymity

2:57 and out of this movement came many

3:00 attempts to recreate various fundamental

3:05 institutions of society using the

3:09 complex mathematics of cryptographic

3:12 systems so things like voting systems

3:15 digital communication systems that

3:17 enabled very strong privacy

3:20 the cypherpunks were a group of

3:22 individuals who felt that cryptography

3:24 could enable new human Freedom that

3:26 freedom to communicate and the freedom

3:28 to send money and there were many

3:31 different versions or ideas behind like

3:33 digital cash I’ve got to send something

3:35 for my mom’s birthday I’ll then booked

3:37 plane tickets for our trip next week and

3:38 my kids got to go to the library to look

3:40 up dinosaurs hey we can take care of all

3:42 that before we go yeah right oh with

3:45 America Online America Online can do all

3:47 that if you can control people’s money

3:49 you can control every aspect of their

3:53 life if you can surveil people’s money

3:55 then you know everything you need to

3:57 know about them how about you know your

3:59 mom some nice flowers all you do is

4:01 click on Marketplace

4:02 we place an order and it’s so easy all

4:05 you do is point click America Online a

4:07 new way to use your computer to

4:09 communicate have fun and get instant

4:11 news and information

4:14 a giant virtual Supermarket that’s what

4:17 the internet promised us but we saw

4:19 something quite different

4:23 people have distrusted the traditional

4:25 Financial system for some time they’ve

4:28 been working on peer-to-peer currencies

4:30 for decades Because the Internet made

4:32 information accessible to everyone

4:35 but no suitable currency no Global

4:38 universal currency exists without a

4:40 central bank that was a drawback

4:45 control trade and you control freedom

4:50 as the internet became a huge platform

4:52 for trade it needed a currency Anonymous

4:56 counterfeit proof with no Middleman

4:59 but there was an issue double spending

5:03 the double spending problem is this idea

5:06 that digital information is easy to copy

5:09 and if you have a form of digital money

5:11 how can you keep track of that money and

5:14 make sure it’s only spent once now with

5:17 physical paper money when you give it to

5:20 someone you no longer have it but in the

5:22 digital realm you can give someone a

5:25 copy of something digital a perfect copy

5:28 that is indistinguishable from the

5:30 original and still keep the original now

5:33 there are two copies what if you then

5:35 give it to someone else again

5:38 on the internet everything can be

5:40 duplicated infinitely

5:42 solving the double spending problem

5:44 would help prevent fraud on the net copy

5:47 and paste could no longer be an option

5:49 without it online Commerce would be

5:52 impossible

5:54 technology it was a complex technical

5:56 problem that’s why it took decades to

5:58 solve Bitcoin is the result of Decades

6:01 of intensive research and ideology of

6:03 freedom and a desire for secure payments

6:06 is the individuals who have built

6:09 precursors to bitcoin but these

6:10 precursors hadn’t been successful if you

6:13 think of it of Bitcoin as a new species

6:15 of money these species died on the

6:17 operating table they never really made

6:19 it out of the lab and so with a

6:21 cipherpunks wanted to create a digital

6:23 cache but they had no idea how money

6:26 worked they knew how cryptography worked

6:28 but they vary had very poor

6:30 understanding of Economics monetary

6:32 policy and money Satoshi did

6:35 sometimes the solution appeared to be

6:37 within my grasp other times it appeared

6:40 entirely Out Of Reach

6:42 the stock market is now down 21 it was

6:45 the worst day on Wall Street since the

6:48 crash of 1987. this could be the most

6:51 serious recession in decades what

6:53 started in America last year has now

6:55 spread to every part of the world

6:57 the financial World collapsed its

7:00 instruments its rules the creation of

7:02 wealth all one big fiction a Web of Lies

7:05 and opaque algorithms the opposite of

7:08 what I had been working on for years an

7:11 open Universal well-ordered mathematical

7:13 world

7:14 the Bitcoin code haunted me day and

7:17 night Lehman Brothers had just collapsed

7:19 there have been massive bailouts it was

7:22 a huge huge super stressful time period

7:25 in the world

7:26 and finally the time had come it worked

7:29 cryptography had cracked double spending

7:32 absolute transparency guaranteed

7:35 anonymity Bitcoin was ready

7:38 Satoshi first assured the Bitcoin white

7:40 paper with their cryptographer mailing

7:42 list which was comprised of the

7:44 cypherpumps October 31st 2008 is when he

7:47 releases the white paper

7:49 and Satoshi waited for that exact moment

7:51 because it sounded like he had completed

7:53 Bitcoin a little bit before that

7:55 and was waiting for the the peak moment

7:57 of Despair in the financial markets to

7:58 press the send button

8:01 a technical scientific paper that

8:04 described in just over eight pages in

8:08 beautiful detail very concisely very

8:11 clearly the primary technical ideas of

8:15 Bitcoin

8:16 foreign

8:22 the first people that heard about

8:24 Bitcoin typically scoffed at it they

8:26 they thought it was a joke or they

8:28 didn’t think it was going to work a few

8:29 months later he released the code

8:32 in the Genesis block he has a headline

8:35 from the times UK Chancellor on the

8:37 verge of second bailout for banks so

8:39 he’s very much this is a very aggressive

8:41 stance anti-banking anti-central banking

8:44 anti-government

8:46 in his writings he goes the core root of

8:48 the problem with money is it requires

8:51 trust to make it all work we must trust

8:53 the banks we must trust the merchant

8:55 processors we must trust the central

8:57 banks and he goes with Bitcoin we remove

8:59 that needed element of trust

9:03 foreign

9:07 bitcoin’s Network wasn’t in a state of

9:09 too much testing for that long of a time

9:11 it was in a state of like very active

9:13 development and in production

9:16 cipherpunk’s right code that that isn’t

9:19 just enough to talk about it you have to

9:21 go implement it and Satoshi very much

9:23 fit that where he goes okay I’m gonna go

9:25 make this happen I’m gonna go release

9:27 this to the world

9:30 I like the idea of writing software and

9:33 releasing it and uh the software changes

9:35 the facts on the ground it’s politically

9:37 easier to to bring about these changes

9:40 if the software is already deployed it

9:43 makes it harder to make the software

9:45 illegal if it’s available everywhere

9:47 foreign

9:52 was launched

9:54 I had won a victory against the banks

9:57 against state power

10:04 I had to be careful in the early days

10:07 I had a few allies but it was a

10:10 minefield

10:12 a handful of disciples does not make an

10:15 army

10:17 Bitcoin was easy prey

10:22 Bitcoin certainly wasn’t 100 perfect

10:24 right off the bat there were a few bugs

10:26 a few flaws

10:28 from a network perspective it very

10:31 easily could have been crushed by you

10:33 know a really motivated attacker but

10:35 luckily that didn’t happen I think most

10:37 people dismissed Bitcoin and governments

10:39 included dismissed Bitcoin as silly

10:41 money for for a long time and most

10:43 governments still do

10:45 what is the value of a new currency

10:48 it was valued at what it cost to produce

10:51 it one dollar or 1500 Bitcoins

10:54 trust would then follow

10:57 late 2010 and 2011 there is a few OTC

11:00 markets where people would essentially

11:03 on the forums be like hey I’m selling 10

11:05 000 Bitcoin and someone go cool I’ll buy

11:07 it for ten dollars

11:09 it didn’t immediately become a currency

11:11 and it’s still not clearly a currency to

11:15 me it’s just becoming a currency not

11:18 because the government says at some

11:19 point it’s a currency but because more

11:21 and more people are using it as a

11:23 currency

11:30 Laszlo put out a message on the forums

11:32 the Bitcoin talked forum and said hey

11:33 I’d like to buy a pizza for ten thousand

11:35 Bitcoin

11:39 and someone said sure I’ll send me your

11:42 address and I’ll send you a pizza then

11:43 you can send me the Bitcoin

11:45 the very first purchase was pizza not

11:48 drugs or weapons Bitcoin could be used

11:51 as a very ordinary currency in everyday

11:53 life autonomously and without a

11:56 regulatory Authority

12:00 that was the first ever paid Bitcoin

12:03 transaction supposedly the first ever

12:04 transaction for Value a very a very

12:07 expensive pizza

12:12 currency is based on the trust of its

12:15 users

12:17 [Music]

12:19 but what is the trust based on

12:23 We Trust current government currencies

12:25 because they’re issued by the state

12:28 because we pay our taxes with them

12:31 the state guarantees a monopoly for the

12:34 currency within its borders digital

12:36 currencies are something completely new

12:38 they force us to question the very

12:40 nature of money

12:45 Julian Assange the founder of WikiLeaks

12:48 has been put on interpol’s most wanted

12:50 list tonight in Britain Julian Assange

12:52 is awaiting arrest by British police but

12:55 the WikiLeaks founder remains defiant

12:57 suggesting the U.S is out to kill him

12:59 tonight Assange isn’t relenting

13:02 suggesting that if anything happens to

13:04 him all the remaining secret cables will

13:07 be released to the world at once

13:11 governments quickly conquered the

13:13 digital world

13:14 invading by force and with war-like

13:17 interests

13:19 Wikileaks soon learned that revealing

13:21 the secrets of the powerful can lead to

13:23 punishment

13:25 I learned from the fate of Assange that

13:27 there are red lines that are better not

13:29 crossed

13:31 drastic security measures became

13:33 necessary different governments around

13:35 the world pressured PayPal and visa and

13:38 other payment providers to censor their

13:40 transactions because Wikileaks was

13:42 deemed dangerous for leaking information

13:44 so Wikileaks turn to bitcoin which is

13:46 permissionless as a way to accept

13:48 donations and I think that was another

13:51 really cool Testament to bitcoin’s

13:53 resiliency and use case of

13:54 permissionless money no one can take

13:56 that money away from you and no one can

13:58 stop it from being sent to you

14:00 it would have been nice to get this

14:02 attention in any other context Wikileaks

14:05 has kicked the Hornet’s Nest and the

14:08 Swarm is headed towards us

14:10 we were right in the spotlight’s glare

14:12 much too early you know Satoshi had

14:14 created this this new money and he was

14:16 very much worried that they were kicking

14:18 the Hornet’s Nest is how he put it at

14:20 too early of a stage in the project and

14:22 that they may not survive a government

14:23 attack he also I think close to that

14:26 time started to question if you should

14:28 be part of the project and so Satoshi

14:30 eventually disappeared

14:32 Bitcoin had become the currency for

14:34 those who wanted to remain unknown at

14:36 all costs

14:37 you can get anything on the internet

14:39 nowadays cars homes and now black tar

14:43 heroin this is Silk Road the anonymous

14:46 Marketplace on the main page they

14:48 proudly and openly sell LSD marijuana

14:52 and ecstasy Bitcoin is this thing that

14:55 has no political bias so it’s this truly

14:59 free permissionless network for storing

15:02 and moving value business

15:13 it is not Anonymous but rather

15:15 pseudonymous the Bitcoin register the

15:18 blockchain is transparent and open for

15:21 all to see if there is a court order

15:23 because of possible criminal activity

15:25 the state can search the platform just

15:27 like a bank

15:29 they’re allowed to uncover your identity

15:31 and your finances

15:35 the virtual world is not an encapsulated

15:37 parallel world it is actually closely

15:40 connected to our world every digital

15:42 action can touch real life

15:48 foreign

16:06 Revelation to me that it could survive

16:09 something even for an illegal use case

16:11 which meant that its protocol must be

16:13 really really robust and sound this is

16:16 before I completely understood how it

16:17 all worked

16:21 foreign

16:25 Bitcoin to protect criminals

16:28 I wanted free and autonomous

16:30 transactions

16:31 and then Silk Road drove up the value of

16:34 one Bitcoin to thirty dollars

16:36 that’s when I decided to back away from

16:38 the project

16:40 no more public posts

16:43 only a few private emails to bitcoin

16:45 Developers

16:46 I will only guide and advise that’s all

16:50 why did Satoshi disappeared I remember

16:52 he disappeared after Gavin Anderson came

16:56 back and said he I just had a meeting

16:58 with the CIA they wanted to talk to me

17:00 about what Bitcoin is

17:02 I got an email in April 2011 from Gavin

17:05 Andreessen one of my programmers

17:07 he had accepted an invitation from the

17:09 CIA to talk about Bitcoin

17:13 Satoshi never wrote an email ever again

17:15 that was it

17:17 Gavin knew nothing about me not a thing

17:20 but I made a radical cut anyway

17:23 I didn’t want to take any chances

17:26 I knew they would do anything to find me

17:32 but I knew they wouldn’t succeed the

17:35 program didn’t need me anymore

17:39 it was stable enough to grow and fulfill

17:41 its function for whatever purpose

17:44 I was a little bit surprised that it

17:46 happened so soon I would have thought

17:47 that he takes a bit more leadership in

17:49 the project I think Satoshi understood

17:51 and this is why he stayed pseudonymous

17:53 he knew that if there was a human behind

17:55 the project that that would always be a

17:57 weakness

17:58 no one is responsible that makes Bitcoin

18:02 less vulnerable to attack there is no

18:04 one to prosecute attack arrest or

18:07 convict for founding Bitcoin or for

18:09 having power over Bitcoin

18:12 no one has power over a Bitcoin not even

18:16 the founder

18:20 they’re not just know satoshi’s writings

18:23 we know that he’s an English speaker he

18:25 uses some UK spellings for words but he

18:27 only does it twice we know at times he

18:29 posted on the Bitcoin talk Forum what

18:33 time zone he may live in

18:35 whenever someone is thought to be

18:37 Satoshi they say no Satoshi can’t be

18:39 like that but we don’t actually know if

18:42 Satoshi is a genius he’s bound to be

18:44 little strange and not average he can

18:46 change

18:47 that’s the extent of our knowledge

18:53 I’m not in Bitcoin but you’re you’re

18:55 addressing Bitcoin I don’t know anything

18:57 about it 64 year old Dorian Satoshi

19:00 Nakamoto emerged from his Southern

19:01 California home Thursday and walked

19:04 right into a media frenzy hours after

19:06 Newsweek magazine claimed he was the

19:09 mystery man behind Bitcoin

19:25 yes I was around in those times but I

19:27 was very annoyed with the Newsweek

19:30 um the Newsweek research

19:32 foreign

19:39 did is they found a guy named Satoshi

19:42 Nakamoto and they’re like we found him

19:44 it’s

19:47 Satoshi wouldn’t have chosen his real

19:49 name

19:51 um and so they were literally looking

19:52 for a John Doe found John Doe and said

19:55 that that was that was Satoshi

20:03 it’s very poor journalism because they

20:05 went to his home they kind of harassed

20:08 this guy and so he was put under the

20:10 spotlight and he was just a very quiet

20:12 dude he did he didn’t really want to be

20:14 found so it was a very uncomfortable

20:16 position for him and very unethical on

20:19 these weeks part

20:23 the main reason I’m here is to clear my

20:26 name that I have nothing to do with

20:28 Bitcoin nothing to do with developing

20:32 um I was just an engineer doing

20:34 something else

20:52 when uh the first transaction occurred

20:54 which was uh nine days into the Bitcoin

20:59 blockchain Satoshi Nakamoto signed some

21:02 amount of Bitcoin that they had mined

21:04 and sent it to an address that we know

21:06 belonged to Hal Finney a computer

21:09 scientist who was one of the first

21:10 people interested in uh Bitcoin and

21:13 communicating with Satoshi Nakamoto

21:22 Hal had built reusable proof of work he

21:25 had kind of built some of the key

21:26 components that enabled Bitcoin to be

21:29 successful uh Satoshi was asking for

21:31 help in in terms of people needed to

21:34 help him get it all built and and help

21:36 mine it and and kind of incept it and so

21:38 Hal and Satoshi worked together and

21:40 Satoshi sent him the first ever Bitcoin

21:42 transaction

21:44 only an autonomous system can be free

21:46 and Hal understood this

21:49 Bitcoin isn’t just a digital currency

21:52 it’s a means to Absolute Independence

22:03 one thing was revolutionary it was

22:06 determined in the spirit of absolute

22:08 sovereignty the cost of maintaining the

22:11 system would be paid with the currency

22:13 of the system

22:16 Bitcoin is the new gold digital gold

22:21 like with gold the quantity of Bitcoin

22:23 is limited like with gold the more

22:26 Prospectors there are the more difficult

22:29 it is to find them

22:32 what’s mining it’s a big question you

22:35 know it’s an industry and it’s a bit of

22:36 a philosophy also but most of all it’s

22:39 like the like the Cornerstone of Bitcoin

22:42 technology it’s a currency system right

22:44 so in the currency system you either own

22:46 currency or you’re sending it that’s

22:47 pretty much all you do with currency

22:49 right

22:51 and how you would usually build that

22:53 into a computer system is that you have

22:54 a database and this database lists like

22:57 who earns how much money and when

22:58 someone wants to send money you just

22:59 change the database

23:02 but if you want to do it in a

23:03 decentralized way like Bitcoin does it

23:05 all the participants in the Bitcoin

23:07 ecosystem store a copy of the same

23:08 database and when someone wants to make

23:10 a transaction which is to change the

23:12 database then he has to coordinate with

23:14 everyone else to make sure that everyone

23:15 agrees that this is a kind of okay thing

23:18 to do

23:24 it’s more difficult to hack 20 000 or

23:26 100 000 computers to modify the database

23:29 than to hack the computer of a single

23:32 Bank don’t care

23:38 to send you a Bitcoin I need to make a

23:41 transaction this takes place in a

23:43 transaction group and is done by Bitcoin

23:45 miners

23:47 they combine their computing power in a

23:50 mining pool and generate a block

23:54 the mine is compete to validate the

23:57 transaction block validation

24:04 the network kind of creates a very

24:07 complex mathematical riddle that someone

24:10 has to solve in order to progress the

24:13 blockchain to create a new Block in the

24:14 blockchain in

24:16 all the combinations

24:20 you’d have to throw a Tails 90 times in

24:23 a row that would be impossible in a

24:25 lifetime that’s why you have to repeat

24:28 it billions and billions of times it’s

24:30 not a complicated problem it just has

24:32 high material and energy costs

24:35 whoever solves the problem first wins

24:38 and they get Bitcoins that’s the

24:41 motivation

24:42 he then says hey I won the others say

24:45 okay then validate the block

24:47 the block is added to the chain yes that

24:51 is how the transaction is validated and

24:53 you get Bitcoins from me

24:57 [Music]

25:01 the Bitcoin blockchain is the registry

25:04 that records all Bitcoin transactions

25:06 and it’s been that way since the very

25:08 first transaction

25:10 the more time passes the more a

25:12 transaction is secured by previous

25:14 transactions to modify one you’d have to

25:17 modify them all on thousands of

25:19 computers the system is not Flawless but

25:22 almost

25:24 mining is very important to ensure the

25:27 security of the system

25:29 no one would invest this much energy

25:31 unless they were confident that all

25:34 transactions in the block are legitimate

25:37 the block can’t be validated unless all

25:40 transactions are legitimate and the cost

25:43 and effort would be in vain

25:45 The Miner would have invested money and

25:47 energy for nothing

25:53 I trust the Bitcoin system but I don’t

25:55 trust my neighbors and I don’t trust the

25:57 miners and I don’t trust the

25:58 transactions that I see and I don’t

26:00 trust the blocks that I see I verify

26:02 everything or rather my computer does

26:05 and because everybody’s verifying

26:07 everybody and because nobody trusts

26:10 anybody we can all trust the ultimate

26:13 result because it’s being checked by so

26:16 many thousands of computers because it’s

26:18 so difficult to tell a lie on the

26:20 Bitcoin Network

26:22 when it comes to guaranteeing the value

26:24 of Bitcoin

26:26 it is more sound than the gold standard

26:29 Bitcoin does not depend on anyone it’s

26:32 supported by an entire network

26:34 there’s no Central Bank it’s a

26:36 transparent dispersed registry that

26:38 can’t be attacked a system so widely

26:40 distributed can’t be stopped can’t be

26:42 captured it’s a fortress

26:45 it does require a lot of computing power

26:48 that’s why mine is invest in special

26:50 Hardware graphics card servers Etc

26:57 foreign people are worried that Bitcoin

27:00 mining is using too many natural

27:02 resources and is polluting the

27:03 environment disproportionately of course

27:06 they’re right sure it’s using power of

27:07 course it’s not a free resource but we

27:10 have to see not only as a cost but we

27:11 have to see it as an investment we’re

27:13 let’s say spending all this power and

27:15 energy on bitcoin what are we getting

27:18 protecting privacy has a price a high

27:21 price

27:22 cryptocurrency opponents pretend not to

27:24 know that the entire Digital World lives

27:26 at the expense of our planet

27:29 every virtual act leaves traces in the

27:31 form of digital pollution

27:33 I’m not just talking about my program

27:35 much of our life takes place online

27:38 Bitcoin is as useful as social networks

27:40 and streaming services and it will stay

27:43 that way

27:45 [Music]

27:49 that was a pretty wild year because from

27:51 the start of the year to the end of the

27:52 year Bitcoin went from ten dollars to a

27:55 thousand which is a hundred-fold return

27:58 in January 2013 there was only a dozen

28:00 of us who would show up to the Bitcoin

28:02 Meetup in San Francisco and then in

28:04 March when the price hit 260 there was a

28:06 hundred people

28:10 and it was just crazy and there was VCS

28:13 handing out business cards and we were

28:15 like oh but this Bitcoin thing is

28:16 becoming real

28:17 my disappearance had Unleashed my

28:20 creation

28:21 the value of Bitcoin spiraled out of

28:23 control

28:24 Bitcoin became an extremely volatile

28:26 speculative asset because of

28:28 fluctuations in supply and demand

28:31 one day you could buy a pizza for one

28:33 Bitcoin the next you could buy a sports

28:36 car

28:37 a bit too volatile for a currency

28:39 people talked about Bitcoin the US

28:41 Congress there’s a lot of companies that

28:43 raised money to go build products and

28:45 services Bitcoin hitting a thousand

28:47 dollars really blew people’s minds that

28:49 this was like a new technology a new

28:51 valuable money of course it’s growing

28:54 right more people are hearing about it

28:55 the the the the philosophy behind it

28:58 owning your own data and being against

29:00 the banks I had conceived Bitcoin as a

29:03 limited resource from the beginning the

29:05 amount that can be mined is fixed and

29:07 decreases little by little one day the

29:09 source will run dry

29:11 satoshi’s Brilliance was in the monetary

29:13 policy he invented you know pure digital

29:16 scarcity with bitcoin’s 21 million heart

29:19 cap there will only be 21 million there

29:22 will never be more

29:26 [Music]

29:44 he’s one of the richest people in the

29:46 world and he’s anonymous

29:48 I was rich in Bitcoin my own currency

29:51 but I couldn’t touch it because then the

29:54 trust I had so painstakingly built up

29:56 would be destroyed

30:01 is a big mystery the first million

30:04 Bitcoin ever created have never been

30:07 moved

30:09 which is which is insane for you know

30:12 for someone to build this this massively

30:15 valuable thing and not touch the money

30:17 is a modern day Prometheus a modern day

30:20 Saint if you will it’s unbelievable like

30:23 something out of a novel or a movie

30:29 this million weighed heavily on me

30:32 I could have used it to control the

30:34 value of Bitcoin and helped stabilize it

30:37 by carefully buying and selling I could

30:40 have reclaimed my influence

30:44 I don’t think Satoshi is just going to

30:46 move his Bitcoin and say yo though I’m

30:49 just going to move it and see what

30:50 happens what he can do is he can sign

30:52 with his private key he can sign a

30:54 message letting everyone know that he is

30:56 and what he will be doing with it it is

30:58 the only way that if you are Satoshi to

31:01 verify that you are Satoshi

31:04 this Bitcoin million was the only way to

31:07 prove I was Satoshi if I use the money I

31:11 would reveal myself was now the time

31:15 so I’m going to do this once and once

31:17 only I’m going to come in front of that

31:20 camera once

31:21 [Music]

31:26 Craig Wright’s confession could end

31:28 iculation about a person who until now

31:31 has gone by the name of Satoshi Nakamoto

31:33 and I will never

31:35 ever be on a camera ever again for any

31:38 TV station or any media

31:41 ever

31:43 to support his claim the Australian

31:45 entrepreneur demonstrated he had access

31:47 to blocks of Bitcoins known to have been

31:49 created in the early days of the digital

31:51 Cash System I’m about to demonstrate a

31:56 signing of a message with the public key

32:00 that is associated with the first

32:03 transaction ever done on bitcoin

32:09 he was a cryptologist

32:12 but the demonstration was made to

32:14 convince journalists not cryptologists

32:19 that’s where it went wrong

32:23 opportunism knows no bounds The Pursuit

32:27 Of Fame vanity

32:29 anonymity is the price of my freedom

32:33 anyone who claims to be the inventor of

32:36 Bitcoin is lying some people will

32:39 believe some people won’t and to tell

32:41 you the truth I don’t really care maybe

32:44 I should rephrase that there have been

32:46 some that claim to be the inventor of

32:48 Bitcoin but they’re not I don’t want

32:51 money I don’t want fame I don’t want

32:53 adoration they’re absolutely positively

32:56 not

32:56 not the inventor of Bitcoin

33:11 my absence created a powerful center

33:14 around which big Egos and wild

33:16 imaginations gathered which was the

33:18 opposite of what I wanted

33:20 Bitcoin should maintain its autonomy and

33:22 people’s trust at any cost

33:25 I had to force myself not to intervene

33:27 despite the volatile price my million

33:29 had to stay just where it was

33:32 countless scammers were trying to take

33:34 my place they copied the Bitcoin code

33:37 more and more cryptocurrencies appeared

33:40 each made their own claim micropayments

33:43 confidentiality automated transactions

33:47 the demand for new currencies exploded

33:50 and it was just the start

34:00 people are looking at Bitcoin seeing how

34:02 it’s exploding in price and they think

34:03 ah you know I really missed out on this

34:05 one but I should have I should have

34:07 bought in and then they’re looking for

34:08 the next best opportunity

34:10 to to invest in something else to

34:12 hopefully have the same price increase

34:15 as with Bitcoin and uh ready for those

34:17 guys are the old coins

34:20 Master more Anonymous more energy

34:23 efficient everyone wanted to create a

34:25 new better Bitcoin

34:27 and to replicate its meteoric price in

34:29 the process

34:31 the total market value of all

34:32 cryptocurrencies at the beginning of

34:34 2018 was 800 billion dollars 800 billion

34:39 with my Bitcoin million I joined the top

34:42 50 richest people in the world

34:44 my net worth was 44th my virtual fortune

34:51 in 2017 and previously to that in 2014

34:55 we also saw the emergence of many other

34:57 competing systems that are trying to

34:59 capture the magic of this idea and

35:03 either are genuinely trying to make new

35:07 things with it or in many cases are

35:09 fraudulently trying to capture the

35:11 enthusiasm without any substance

35:18 with Bitcoin you can’t make thousands of

35:21 transactions per second

35:23 and you can only plan transactions

35:25 approximately

35:26 this is where other cryptocurrencies

35:29 have tried to improve to do so they had

35:32 to make concessions in the areas of

35:34 security and complexity because you can

35:36 never have everything

35:40 I gave the world the weapons it needed

35:42 to protect privacy but in doing so I

35:46 also provided a tool to those who wanted

35:48 to tap into our data hungry for power

35:51 they use money as a means for absolute

35:54 domination

35:55 privacy has two great enemies the

35:58 internet Giants and governments

36:00 governments now are also proposing money

36:02 from a digital Central Bank

36:05 these currencies would be issued

36:06 centrally and based on debt as they have

36:09 forever

36:12 but there would be one difference

36:14 digitalization would Rob cash of a key

36:17 property

36:18 anonymity

36:19 [Music]

36:21 State entities especially totalitarian

36:24 States would love to have

36:26 cryptocurrencies for more control over

36:27 citizens privacy and the economy

36:31 the attempts by Democratic states in

36:34 Europe to create digital currencies also

36:37 have similar goals not totalitarian

36:39 control like in China but they follow a

36:42 similar logic similar

36:51 one payment method becoming increasingly

36:54 important in Europe has long been used

36:56 in Asia especially in China paying by

36:59 smartphone

37:02 in the west we use Facebook WhatsApp

37:04 separate online banking online newspaper

37:07 subscriptions Etc

37:09 the Chinese model combines all of these

37:12 it’s all unified in a country notorious

37:15 for showing little respect for

37:17 individual Freedom

37:19 this means that the state knows

37:21 everything about people’s lives this is

37:24 possible because everything is

37:25 dematerialized and has digital traces

37:37 these digital traces are processed among

37:40 other things in the social credit a

37:42 point system based on information from

37:44 the various apps

37:46 based partially on purchasing Behavior

37:49 the social rating has concrete effects

37:52 on consumers some things will be more

37:55 expensive

37:58 when you get to the airport it might say

38:01 you can’t fly because you didn’t pay a

38:03 fine

38:07 foreign

38:09 [Music]

38:12 using these technical capabilities for

38:15 surveillance is a major threat to

38:18 privacy and individual freedom

38:24 they are expanding their power at the

38:26 expense of your privacy your freedom

38:28 and Ultra centralized opaque traceable

38:31 digital State currency that uses your

38:33 data against you that’s precisely what

38:36 cypherpunks had always feared a

38:39 nightmare

38:40 understanding that the end of privacy is

38:43 coming is one thing witnessing it is

38:45 something else entirely

38:48 what’s surprising isn’t that China is

38:51 building a totalitarian Financial

38:53 surveillance system they are a

38:55 totalitarian Society what is surprising

38:58 is that European authorities and

39:01 American authorities and Japanese

39:03 authorities are also considering and in

39:07 some cases gleefully anticipating the

39:11 eradication of cash and the ability to

39:14 do surveillance and control of all

39:16 Financial payments from every point to

39:19 every point

39:20 how totalitarian a state has become

39:22 could now be determined by the maturity

39:25 of its digital currency

39:27 [Music]

39:38 I am not who you think I am not even

39:40 close

39:41 I have carefully sketched a distorted

39:43 vague image the opposite of my real self

39:47 I am 40 50 60 years old I am a woman a

39:51 man an artificial intelligence I act

39:54 alone or in a group does it matter

39:57 Bitcoin is collective by definition

40:00 it is the result of Decades of research

40:03 by a wide variety of people its code has

40:06 been run on tens hundreds thousands of

40:08 computers

40:09 and even today this is how the project

40:12 continues to grow

40:16 I’m just going to 12 years ago Bitcoin

40:18 was just a few people developing a

40:20 program from a white paper now Bitcoin

40:23 is thousands of nodes miners hundreds of

40:26 thousands even millions of Bitcoin

40:28 owners

40:29 and companies are investing in Bitcoin a

40:32 lot has happened and the pace of

40:33 development is still accelerating

40:38 let me assure you this thing has not yet

40:42 happened right now it’s difficult to use

40:45 it’s complicated it’s understood by a

40:48 tiny fraction of the human population

40:50 and it will change the world

40:54 Bitcoin is stateless

40:57 but behind it stands an army of

40:59 computers programmers miners users

41:03 it’s useless to cut the heads off the

41:05 Hydra there are too many and they would

41:08 always grow back

41:10 I am never far away in some form under a

41:13 different name I continue to program

41:15 data protection is the cypherpunk’s

41:18 mission

41:19 Bitcoin continues to grow it’s a

41:22 currency but it’s also a capital

41:24 investment repository of value and

41:27 object of speculation

41:29 as soon as you understand it it slips

41:31 away again

41:32 I Satoshi wanted to create an

41:34 alternative to the banks to the states

41:36 and the faceless Mega companies

41:39 Freedom has to be fought for over and

41:42 over again that’s what we’re fighting