'Godfather of Crypto' Unveils New Digital Cash That Could Replace Money | David Chaum
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- Опубліковано 2 сер 2024
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David Chaum, widely considered as the inventor of digital cash and a pioneer in cryptography, discusses his plan for a new system of payment, a commodity or asset-based digital cash that could be "better than money". Chaum unveiled this plan at the Singapore Fintech Festival.
*This video was recorded on November 14, 2023
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0:00 - Intro
2:55 - David Chaum
8:15 - What is e-cash?
13:25 - C-cash
46:13 - AI and cryptography
#crypto #blockchain #money
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FOLLOW DAVID CHAUM:
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Twitter (@chaumdotcom): twitter.com/chaumdotcom
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I find it remarkable that David Lin keeps an open mind, engages in good faith, and really thinks about what is being said in an attempt to ask a properly Journalistic follow-up question... even when he is dealing with someone who is clearly a lunatic.
Reminds me of that Senator that wears his hoodie to work 🤤
@@saltydog1196 The one that wore the hoodie is a replica of the original senator (no joke)
Call me crazy but I’ll just stick to good ole Bitcoin
And when the net goes down?
LoL it would have to stay off WORLD WIDE FOREVER! (Including the hundreds of satellites running nodes orbiting earth)
Do you not understand that people SMARTER than you and I have stess tested these issues for Bitcoin even the day quantum computing becomes reliable they have a migration Shar proof of work system ready to update that eliminates any possibility of a hack within the 10 minute window before the next block, this means even when Bitcoin nodes are running quantum computer nodes they still would NIT be fast enough to hack the network because of the sheer number needed to crack 51% of these independent nodes all at once ( I run my own node, it's VERY secure I can even submit 1 id the 3 confirmations myself because I'm running a node (hence zero trust eequi to get it to my designated recipient).
I'd we lose the power grid forever (internet and power are hand in hand utilities) then we have far far bigger problems than trying to barter...
Imagine a city of 20 million that has 1 week where trucks can't get in to deliver items and no registers work so they ain't selling fuel, and those people are going to what walk to farms for food????
@@crazyasieverwasthen you cant watch UA-cam videos
Call me crazy but I’ll stick to traditional investments…if the internet goes down then eff it
@@afkafk129 no judgement, investing is ALL risk, so i don't think bitcoin is some be all end all. But if the internet/electricity go down, there goes your shares, house title deed, car title on government computers, I mean even gold in a vault, a bank wont open without electricity...
So what do you call traditional investments today that aren't at risk of/when you have a permanent blackout?
Just wondering, maybe there's something else I can invest in as a hedge on this outside of baked beans, water, and toilet paper?
this guy is probably 20 years ahead again.
For his C cash yes. But e ash 2.0 is already been tested with the BIS and SNB.
Mr. David Chaum is the most underrated crypto personality! And XXcoin the most underrated and undervalued crypto project! That better than cash idea is pure genius!
David, be sure to bring this guy back next year. If you can find him.
The value in decentralization is
priceless
This sounds really great, whatever it is. Because by listening I was unable to get a straight answer from the guy about what it actually is. But I think I like it.
LMAO
lol🤣
When he said that central banks are concerned about the people he lost all credibility.
100% 🤣
Sounds like he just thought of ccash 10 min before coming on the show
😂😂😂 it's honestly one of the worst ideas I've ever heard.
This bloke's explanations are dynamic enigmas.
I couldn’t understand him at all. I think he really struggles to get his point across clearly.
He's playing scrabble without the tiles.@@dubasciver3234
Chaum built $xx in mexc for now.
For a guy who has a lot to say he also had a lot he doesn’t answer either
Wow, David Chaum. David you're a certified crypto bro now 😅
I work in this industry and I'm constantly wondering why people insist on trying to make a product that no one asks for. It's the reason this industry is a dumpster fire. Everyone is just trying to reinvent the wheel for no apparent reason other than self wealth or prestige.
Yes, People always say that Bitcoin is the future, but after 10 years, Bitcoin is still in the same place, people pay in cash, credit card and transfer money through banks. I see Bitcoin and crypto don´t go anywhere
Keep up the good work!
Great talk, and even better if Mr Chaum could invest in and use a good mic, hopefully, so we can hear him better in the future. Thanks for this very interesting interview, Mr Lin.
The more he talks, the worse it gets 🤣
how does your guest suggest how to deal with a " Carrington " event .
Cardven token is awaiting major CEX listings. Its possible to hit 100x this year.
It's quite frustrating to see my crypto dropping repeatedly over the past few months. Any ideas on how I could increase my profits in this market?
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A stable coin that constantly makes you money. Genius
Anyone using Kinesis? I think it lets you deposit silver/gold and spend decimal pieces which get converted to local currency at time of purchase.....
Is it safe? Does it work?
Wow... Maybe E-Cash 3.0 will actually have architecture and implementation that can actually work, lol.
I feel bad, because it genuinely seems David Chaum thinks that this can actually work. But there is absolutely no chance this goes mainstream. He's brilliant with cryptography, but too ignorant about history and how our modern fiat currencies and economic systems work. He actually thinks that Central Bankers work to better the lives of those who use the currency that they manage. For those that understand the hustory of Central Banks, that statement tells you all you need to know about the fate of E-Cash 2.0.
I made it almost to the 12 minute mark of this video, but I think I've had enough.
😂
Trust me, the remaining minutes were not going to provide any meaningful answers to any of your questions - only lead to more questions!
$xx network is future
So, an intermediary, like DTC actually LEGALLY owns ALL the assets you put into your tokenized C-Cash system, and then you are just granted preferential creditors treatment to them as fractions, and you can exchange these fractions with other asset fraction creditors, so that you two can send payments with each other, via the centralized ownerships system. But the centralized authority has LEGAL ownership of YOUR assets, right? This is required for the system to work, right?
If this is what David Chaum is trying to sell us, then no thanks.
There so many monetary schemes, hard to keep track. i like the idea of a 'central hub' accepting all sorts of payment transactions validations. i was awarded a USPTO patent for transacting payments on an electronic network, with a one time use number. Filed 1999, Granted 2003.
This was one of the worst explanations. It was hard to listen to him. He didn’t sell through any of his points. He was all over the place. Rough. I have no idea what this was.
Any thoughts about Cardven Token? I myself think its the best thing since sliced bread.
Even if governments or central banks use e-cash, the backing asset must be something solid like Bitcoin, not a digital currency that can be easily created and controlled by a few individuals. The name of their game is control, they don' want to relinquish it, even if they don't succeed in making the new thing have 0 privacy.
I expected more from David
Why reinvent blockchain?
Call me crazy but I think c-cash is a glorified paypal. 😢😅
Btw, what cave was he hibernating in??!
Skip ad
David, you are scraping the bottom of the barrel here…. More crypto…. That’s exactly what we need…. Holy crap!
low IQ comment. learn a little about the tech before you comment
Fascinating
Coinbase is already set up to do this. You can for example spend eth and get cash back in btc. From a programming perspective they'd just have to automate how deposits get allocated. This makes perfect sense. The system is a giant fund that allows you to own a fraction of a share. Unfortunately it still has to be denominated in some base currency so we can equate x amount of share A to Y amount of share B... so it doesn't replace money it replaces the banking and investment system.
This guy needs a spokesperson lol
What about the capital gain tax every time you spend c-cash
No different to capital gains when holding fiat, just that the government choose the rules on what is gains and what is not.
If u buy dozen eggs, hold them for a week, then dont need them anymore, price goes up, sell them to your neighbour for more then irs doesnt chase u for capital gains? No different- they just target where they can easily trace and charge tax
Within the last year or so, there was an interview with someone who had a new digital money scheme, a largely self-educated genius who passed course exams on day one because he had done the work in advance, a US citizen of color who said he was in negotiations with leaders in the financial industry. There was going to be a release of the scheme before long, hopefully. No connection to David Chaum.
Brilliant guy but he makes my head spin…
Walmart and Cardven token just signed a collaboration??
This makes total sense to me.
Imagine if the world moved over to this - the markets would absolutely boom!
Could we see the BRICS implement something like this first??
I think Mr. Chaum should talk with Argentina premier, Javier Milei, and tell him not to adopt Bitcoin as legal tender but this better than money system using XXcoin!
Love of you to reach out to Charles Hoskinson for a talk. Economics, crypto, anti-cbdc stuff, etc
Pretty sure the whole country he was referring to is Liberland
I can't wait to start investing in crypto and make profits. I'm down 60% of my portfolio. Any suggestions please?
I recommend you to Mrs. Reece Davina, the best crypto analyst and accountant, for advice
I'm thinking about investing also, any suggestions?
Don't
I recommend you to Mrs. Reece Davina, the best crypto analyst and accountant, for advice
$XEN to da moon
This guy would/should work with Holochain. I feel they would get along. His first statement is literally describing Holo.
This guy makes no sense to me!
It's all internet monopoly money
We have perfect assets called BTC 🏆
1+ David lol
Stick to bitcoin
Why lose your money in bitcoin, as if its the only other choice to invest in?
Bro
Either im dumb or he did a shit job trying to explain this thing. So based on this, is he suggesting that instead paying cash for a car i can pay with some blackrock etfs or a few of my tin futures contracts?
THIS IS ALL FOR THOSE WHO BELIEVE IN UTOPIA... EVEN STOCKS NEED MARKET MAKERS, SO CASH NEEDS SOMEONE TO CONTROL IT... BEST IS TO HAVE LAWS OF HOW TO MAKE GOVTS RESORT TO PRINTING ALL THE TIME - STRICT LAWS OF WHEN GOVTS CAN PRINT AND WHEN THEY CANNOT.. AND MOST BILLS TO GO THROUGH PUBLIC REFERENDUMS
"Blackrock helping the poor people". lol "Central banks trying to help poor people". lol
Bitcoin fixes this
Lin is running out of guests .... so he's now targeting the psychiatric wards
🤣
Man, DYOR $KAS
You know when a hippo takes a shit and flaps its tail and the shit goes everywhere? well this guys explanation is like that. Loads of crap flying out of a hole...i gues his tongue is basically the tail.
Na….
smells fishy. nobody does something out the kindness out their heart. especially when people bragging about just being a "good guy"
Yeah, I think this is one of those "Trust your nose" situations for sure, lol.
Frist comment,
Grifter time in the crypto cycle.
He's not a grifter. He created the XX Network which is a mixed network and they were testing with the BIS and SNB to bring privacy to CBDC's. This dude was probably Satoshi's teacher.
@@rCrypto_Frog4148 suurre
WTF did I just watch?
Cardven Token is launching, 1000x gains. Thank me later...
There is perfect bitcoin, then there is everything else. Choose wisely 😉
bitcoin is nothing, its funny to watch all the crypto losers now turn to bitcoin when they wouldnt touch it before bc didnt go up fast enough. Now bitcoin is their latest bad bet as will just hope its different, when many of the tokens that went to zero had identical programs. "Maxis" is just coraling the suckers that are left, to make it easier to slaughter in the final collapse of intrinsically worthless tokens.
Another Ponzi…
H O L O 👀
Haha - copy someone else’s portfolio- great advice! 😢
did bro make a shit coin?
It’s not going to work for sure 💯
X R P
Hard pass. Don't drop the soap Mr. Chaum.
Bitcoin, nothing else.
20,000 crypto, all lies. Why is bitcoin lie better than other lies?
@@jackgoldman1
Bitcoin =/= crypto.
Read The Bitcoin standard, you'll have your answer.
Simply put, fixed supply and decentralization are key.
@@jackgoldman1 Yep, I agree. They speak so definitively, as if bitcoin is much different than the other worthless junk, $37K for nothing.
PEPE will flip dogecoin
Scammer
This guy needs a spokesperson lol