Joe, I consider myself to be a software expert (my job) and this was a one of the most insightful and compelling explanations of blockchain since I've started reading about it. Kudos my man, great work!
Yea, blockchain is revolutionary because it will reduce the need for a middle man. The true leeches on society. Oldschool Napster was just the beginning.
So my question is this, what will be the "digital" form of currency everyone will convert their STEEM dollars or any other digital dollars too? And if that's the case, why bother creating other digital currencies like STEEM dollars? Of course I'm assuming we reach a point where there is a standard met for digital currencies. Right now they are still being improved upon. Or maybe the alt currencies can be traded by a sub-culture of people who are left out of the major digital currency? Kinda like people in jail trading cigarettes because they don't have access to real dollars. Steem dollar would be the equivalent of cigarettes in jail?
The need for the STEEM monetary unit is because there needs to be a value for that monetary unit. You can't count on the user's local currency. By having the STEEM dollar, you have a standard reward value, which can then be converted to the user's local/preferred currency.
Out of all the videos I've seen on Blockchain, you're the first to mention Tangle and IOTA, and that's great because it is a far superior technology. Thanks for going the extra mile to research Joe! Keep up the great videos!
In the 70's, if I had a problem with my phone bill, then I could go to the Bell Telephone Office and talk to a person, and get my problem solved. Today I call a telephone number I wait for a half an hour, and get a menu that is very long. This menu never has my specific problem, when the menu is done I forgot the number of the suggestion that sort of closely fit my problem. It is a long tedious process. This is not progress. Also these computers are suppose to save money, but the cost of things keeps going up. Computers put people out of work. So where is the savings. As we all know the internet is censored
1) I was eating a taco, not sitting on the toilet. 2) That cleared some stuff up, and now I will be going to your Bitcoin video to (hopefully) understand some more
Hey Joe, I`ve just subscribed for brilliant.org. Cool stuff. Thx for the hint. I am one of your very early subscribers. It is super good to see your channel growing. You man put a lot of work in it for us. Highly appreciated. I am writing assignments in the uni at moment and it is so refreshing to have a break watching your videos and learning from them. I have a friend who is planning to write his final project on cryptocurrency. Your are a big help for him as well. Cheers in his name. :) . Have u watched Star Wars and if so how did u like it? Keep up the good work Joe. Greetings from Cambridge, UK from a Hungarian guy. Merry xmas!
Considering the scalability problem that is embedded in any type of ledger principle, one can expect Bitcoin to collapse at a certain use level. The more transactions the higher the power consumption and the higher the cost per transaction. The less cost efficient miners stop their activities, making the cost per transaction higher again etc. In total the cost of Bitcoin and other blockchain type transactions are higher than doing it per bank and only increase by volume. Besides that, think about quantum computing power in decryption of everything that cannot be decrypted at this moment due to technical restraints. That will radically alter the equation.
09:44 Wow... Probably the best "blow my own brains out" clip I have ever seen... And to think that was way back in 2017. Given that "tangle" hasn't taken off in those 4 years since the video, it shows that Joe's humor is more enduring than his predictions.
I keep the dial-up tone as the ringtone for my phone. You'd be surprised how many people either don't know the sound or have completely forgotten about it.
Wow, amazing! Seriously, I have been a proponent of Blockchain for well, since about 9 months before you did this video. This is by far the best description of cryptocurrency I have seen, probably ever! kudos sir, you truly have a gift.
Bit of hyperbole there. Saying blockchain technology would make the internet seem like a fad is like say the internet makes electricity seem like a fad.
Internet of value is a great description of both blockchain and tangle. The biggest challenge of both, is the very fact that it’s decentralised and by extention, decentralises the economic incentive. This often results to models that work with microtransactions to stimulate certain behavioural outcomes. So you need volume to turn a large quantity of these transactions into a strong enough incentive to make a choice rational. This limits use cases a bit. Example: If you have your hand under the watertap and my goal is to get you to remove your hand, I will have to make it really hot or really cold (reward vs penalty). One degree of change in temperature won’t impress you at all. Still a huge deal though. Just imagine trafic regulated by this tech combined with autonomous cars...Already makes me happy.
Please do a pt 3, to address the issue of the public knowledge of all transactions on traditional blockchains, how that hurts user privacy, and coins that are trying to combat this issue in a fair way (not "dash,zcash,electroneum" aka scams)
As soon as he said "Tangle" I was like "Hell yeah, he's gonna talk about Iota" which has been by far my favorite crypto since I first learned the concept of it two years ago and the Iota foundation and the Iota community has never let me down since. Also, to anyone interesting this topic, you may think he covered it well in this video but this is really like not even in the rabbit hole yet, he hasn't even scratched the surface.
Maybe you want to talk more about what the FCC is doing and why it might be really bad? And this blockchain stuff was pretty interesting too. I really like your videos, I've been binge watching since I found them.
My understanding is that blockchain tech is first, foremost, and primarily about automating and ensuring Trust. This view explains both its use for trade transactions (currency), but also its use for record keeping (land titles). The "it's about value" explanation might account for the former, but not the later (unless definitions are stretched beyond English, of course).
9:43 You had me in stitches Joe hahaha. Its true though, tangle has none of the problems of blockchain which may essentially make it obsolete. IOTA looks revolutionary
While It sound great tangle leaves me with questions 1 why was all the currency unmined Who got it? 2 there is a coordinator how trustable are they? 3 are they going to stay around? 4 why are there transactions not being confirmed for hours seems to be a real problem If you go on the IOTA subreddit. 5 not really a problem with the usability of IOTA but as I understand there is no privacy with IOTA that you can get with quite a few others (they are all blockchains tho :( )
Hey Joe, could you please make a video that talks about the certain strengths of each major cryptocurrency out there. For example, bitcoin, Litecoin, Ethereum, IOTA, and Ripple. These past two videos I loved, even though they were mostly just on how blockchain works, but I would prefer to have an analyst type view on each of them. Thanks, keep up the hard work!
If there was a way to automate decision making... oh right, computers and anything we can program. But how can you make good decisions without block chain... wait, block chain doesn't help with making actual decisions? But how can we be sure, that communication between nodes is secure., if you don't have distributed network of crypto miners, that spend billions of dollars on energy to align zeros nicely... asymmetric cryptography with private, public key? Is that a thing?
TheMiczu Programming is done by programmers. Programmers work for a corporations or other centralised collectives like NGO’s or governments agencies. You only open an account with a bank you’ve heard of and trust. You only purchase automobiles with brand you know and trust. Blockchain and tangle are a way of creating consensus/trust without these centralised collectives. It is a way to organize society quasi-anarchic way without the need for big entities to oversee what we do. Every node participates in the check and balance process to keep the systems integrity in check.
coinmarketcap.com has a list of over 1300 with links to their websites, things like etherium and iota are near the top but sometimes best to know what crypto you're looking up, some are a ways down the list, for example Substratum is 95th as of posting.
Woooow weird. Watching your vids all morning on my laptop, the cups of coffee took me to the toilet as I went to mobile. Then you call me out while I'm on the 🚽 Good call Joe!
You're OLD? I saw my first calculator in college in September of 1972. It was a Craig 4-function that retailed for $100.00. It was equivalent, for me, of suddenly noticing today, without any advance notice, that FORCE FIELDS are being used by private citizens. No exaggeration.
I like to explain block chain as a way to order facts. By ordering facts you can encode concepts like finitude in a space where data can be readily copied. So, for example, you have X of something, you give Y of something, now you have X-Y of that something. Three facts that only make sense in order. Described like that, currency is an obvious application of the technology.
@Jeo - I wish you'd mentioned about blockchain and voting system. How we can totally eliminate fake comments, fake votes etc using blockchain technology. Thanks!!
Hey Joe, new fan of your channel here! Great work, BUT.. (haha).. I would like to point out the some stuff from this video.. the most important attribute of blockchains and smart contracts, if any, is data integrity and non-repudiation - meaning it is not regulated (for the good and bad..) and for hackers who want to hack the system, they need to hack everyone on the network (which is close to impossible), not so much automation. The automation is still done with programming. Other than that, it is a very good video.
Just giving everyone a heads up...a newer cryptocurrency called ProCurrency will be talked about for the first time on national TV (Fox and CNN) on January 19th 2018. Spokesperson is Kevin Harrington. Kevin was an original “shark” from hit TV show SharkTank. Kevin is also the creator of "As Seen on TV". There is large nationwide national advertising campaign for this currency starting 1/19/18.
you've redeemed yourself, got to say i was a bit disappointed with your bitcoin video, but this one was awesome, great name drops, all very interesting projects, great work. Warning - this stuff is addictive
I started in June and have made a ton of money (for somebody who didn't have much to start with) It's hard for me to imagine this technology is irrelevant.
Yo, what will happen if we will place a tiny camera near the event horazin of a tiny black hole that will evaporate before takeing the camera in? will we be able to see into the future becouse of time dilation?
3:29 "oh yeah, they know." -LMAO!!! I love that Joe doesn't take himself too seriously.
Joe, I consider myself to be a software expert (my job) and this was a one of the most insightful and compelling explanations of blockchain since I've started reading about it. Kudos my man, great work!
Yea, blockchain is revolutionary because it will reduce the need for a middle man. The true leeches on society. Oldschool Napster was just the beginning.
So my question is this, what will be the "digital" form of currency everyone will convert their STEEM dollars or any other digital dollars too? And if that's the case, why bother creating other digital currencies like STEEM dollars? Of course I'm assuming we reach a point where there is a standard met for digital currencies. Right now they are still being improved upon.
Or maybe the alt currencies can be traded by a sub-culture of people who are left out of the major digital currency? Kinda like people in jail trading cigarettes because they don't have access to real dollars. Steem dollar would be the equivalent of cigarettes in jail?
The need for the STEEM monetary unit is because there needs to be a value for that monetary unit. You can't count on the user's local currency. By having the STEEM dollar, you have a standard reward value, which can then be converted to the user's local/preferred currency.
Im nothing like software expert but this was easy. I too some degree I see this as going back to reptile brain ,faster but dumb.
It was actually a horrible explanation, though I don't blame Joe for it, it's all very complicated.
Omg that "They do know I'm an idiot right? hang on let me check my comments real quick... Oh yeah, they know" bit literally made me laugh out loud.
Great sell and pantomime from joe! Lmbo
My brain 🧠 hurts in a good way. Thanks Joe!
Joe your still hilarious.........and i haven't even smoked yet
Joe, you're still hilarious today .. though I've never seen your still before.
(not that I would choose to .. of course)
I watch this guy high all the time
Dude you make my day. I watch these old videos and it's getting me through the quarantine
All your videos are awesome Joe, literally watched each one.
I love Tangent Cam and the quality of TC!
Truth mixed with humor makes it easier to swallow. Great Job!
9:26 Oh f*** he knows
Did you just imply that all I do is “sit on the toilet and watch videos on my phone?”
How dare you, sir.
(That’s pretty much ALL I do)
That’s all most people do.
Prolapsed anuses everywhere
Thanks for making my Monday tolerable! Can you make a video on interstellar civilization?
Wow this is so true. Especially the part on watching this while sitting on the toilet.
That moment when you said "RoadBlock"
I'm dead.
You're the funniest guy ever.
Lol 😂😂
I am old enough to know that sound. It is the sound of the devil's laugh when you want to send an email.
Out of all the videos I've seen on Blockchain, you're the first to mention Tangle and IOTA, and that's great because it is a far superior technology. Thanks for going the extra mile to research Joe! Keep up the great videos!
By God you just reminded me of the AWESOME HamsterDance song...!!! Thank YOU!
6:45 - a crypto backed by actual value! Nice.
In the 70's, if I had a problem with my phone bill, then I could go to the Bell Telephone Office and talk to a person, and get my problem solved.
Today I call a telephone number I wait for a half an hour, and get a menu that is very long. This menu never has my specific problem, when the menu is done I forgot the number of the suggestion that sort of closely fit my problem. It is a long tedious process.
This is not progress. Also these computers are suppose to save money, but the cost of things keeps going up. Computers put people out of work. So where is the savings.
As we all know the internet is censored
self-deprecating, yet super-informative, as always!
Peter Houle dude I can’t believe I said almost the same thing as you in the comments before seeing yours. He is so universal
1) I was eating a taco, not sitting on the toilet.
2) That cleared some stuff up, and now I will be going to your Bitcoin video to (hopefully) understand some more
Just a quick note to say, "Merry Christmas and a Very Very Happy and Prosperous New Year." I love your high quality videos.
Thanks! Same to you!
Hey Joe,
I`ve just subscribed for brilliant.org. Cool stuff. Thx for the hint.
I am one of your very early subscribers. It is super good to see your channel growing. You man put a lot of work in it for us.
Highly appreciated. I am writing assignments in the uni at moment and it is so refreshing to have a break watching your videos and learning from them. I have a friend who is planning to write his final project on cryptocurrency. Your are a big help for him as well. Cheers in his name. :) . Have u watched Star Wars and if so how did u like it?
Keep up the good work Joe.
Greetings from Cambridge, UK from a Hungarian guy.
Merry xmas!
Thanks man!
Posted over a year ago and he still knows I'd be on the toilet watching his video at 4:06 in the morning
lol, good stuff man. I love how you mix in humour into all your videos, no matter how hard the topic is. You're a great teacher.
great video, old chap.
Considering the scalability problem that is embedded in any type of ledger principle, one can expect Bitcoin to collapse at a certain use level. The more transactions the higher the power consumption and the higher the cost per transaction. The less cost efficient miners stop their activities, making the cost per transaction higher again etc. In total the cost of Bitcoin and other blockchain type transactions are higher than doing it per bank and only increase by volume. Besides that, think about quantum computing power in decryption of everything that cannot be decrypted at this moment due to technical restraints. That will radically alter the equation.
09:44 Wow... Probably the best "blow my own brains out" clip I have ever seen... And to think that was way back in 2017. Given that "tangle" hasn't taken off in those 4 years since the video, it shows that Joe's humor is more enduring than his predictions.
I keep the dial-up tone as the ringtone for my phone. You'd be surprised how many people either don't know the sound or have completely forgotten about it.
Watching it on the phone, but sitting on the couch ;) still it was quite a surprise :))))
OMG! How did you know I watched this video sitting on a toilet!? :D
@Kelvin Brown good for you
An entertaining, informative and funny video! High five Joe!
Awesome video. Love your channel!
So much energy and effort is being put into keeping human minds limited to the framework of market algorithms...
9:35 you nailed it!
Wow, amazing! Seriously, I have been a proponent of Blockchain for well, since about 9 months before you did this video. This is by far the best description of cryptocurrency I have seen, probably ever! kudos sir, you truly have a gift.
You’re brilliant man. Combination of self deprecating humour and interesting subject matter
Thanks Joe! I really appreciate your work.
Bit of hyperbole there. Saying blockchain technology would make the internet seem like a fad is like say the internet makes electricity seem like a fad.
It was a fad until it became ubiquitous... ;)
Ubiquitous hyperbole! #bandnames
it does lol
Well said!
Hyperbole in a yt video? Omfg
Internet of value is a great description of both blockchain and tangle.
The biggest challenge of both, is the very fact that it’s decentralised and by extention, decentralises the economic incentive. This often results to models that work with microtransactions to stimulate certain behavioural outcomes. So you need volume to turn a large quantity of these transactions into a strong enough incentive to make a choice rational. This limits use cases a bit.
Example: If you have your hand under the watertap and my goal is to get you to remove your hand, I will have to make it really hot or really cold (reward vs penalty). One degree of change in temperature won’t impress you at all.
Still a huge deal though. Just imagine trafic regulated by this tech combined with autonomous cars...Already makes me happy.
Great video Joe!
One your funniest videos. I found this one super informative and entertaining
I turned on the funny a bit more than normal.
If you ever came to Argentina, I will invite you a beer and asado.
Rodrigo Nicolás Giraudo I would love some hot Brazilian asado 😉
I only do Argentinian asado, but if you invite the brazilian one, I will be present
Rodrigo Nicolás Giraudo 😂😂
Ha ha ha, man you're funny I wish I had teachers like you back in school and college.
I know this is three...
(It's four years?)
This is four years old. But that bit with the comment section was very golden!
4:01 not quite, a hash is not an encrypted key
it's more like a checksum
Please do a pt 3, to address the issue of the public knowledge of all transactions on traditional blockchains, how that hurts user privacy, and coins that are trying to combat this issue in a fair way (not "dash,zcash,electroneum" aka scams)
I was watching this on my phone in my room thank you
The video starts, Joe spins in his chair and I think, damn he looks young..... his first line, "I'm old"
Wow, interesting topics.
Now to work this into my writing.
Nicely done sir.
Great video, this one was really funny, and informational too. GJ
"Put your head somewhere else" hahahaha love it!
As soon as he said "Tangle" I was like "Hell yeah, he's gonna talk about Iota" which has been by far my favorite crypto since I first learned the concept of it two years ago and the Iota foundation and the Iota community has never let me down since.
Also, to anyone interesting this topic, you may think he covered it well in this video but this is really like not even in the rabbit hole yet, he hasn't even scratched the surface.
DAC - sounds like the ideal business model for Skynet to automatically produce massive amounts of Terminators...
Excellent video thanks you for doing that
Your, let's check the comments joke 🤣🤣🤣. Dude. Keep it up. I think you're awesome!!!
Cool... This has piqued my interest enough to want to learn more about Blockchaining and Tangle..:)
warning - it's addictive (ivan on tech youtube channel)
Jeff Wilcke? I thought Vitalik created Ethereum?
He’s one of the founders. I shouldn’t have said “the” founder.
i think there were 12 founders. most took the cash and ran
Hopkins head of ada cardano was also one of the founders
Close! Im watching this on my phone, but sitting on my porch
Thank you Joe.
waw.. much information in minutes blow my mind..
I got the, ‘Here in my garage’, guy in an ad talking about BitCoin on this video
Video on magnetars, neutron stars or pulsars? I feel like the public knows their names, however not what exactly they are. Or what they could do..
Maybe you want to talk more about what the FCC is doing and why it might be really bad? And this blockchain stuff was pretty interesting too.
I really like your videos, I've been binge watching since I found them.
Hi Joe great video ! I remember dial up you got mail all that stuff
Can you do a video on the Rodin coil?
Fantastic video, well done ! That was the best explanation of blockchain I have seen
My understanding is that blockchain tech is first, foremost, and primarily about automating and ensuring Trust. This view explains both its use for trade transactions (currency), but also its use for record keeping (land titles). The "it's about value" explanation might account for the former, but not the later (unless definitions are stretched beyond English, of course).
9:43 You had me in stitches Joe hahaha. Its true though, tangle has none of the problems of blockchain which may essentially make it obsolete. IOTA looks revolutionary
Thanks for informing me of IOTA.. I am fairly informed when it comes to crypto currencies and the blockchains, but this was new.
Substratum is quite awesome. This is closer to the original philosophy of internet than the internet that we use now.
@ 9:40 That was so funny not quite my reaction but close.
While It sound great tangle leaves me with questions
1 why was all the currency unmined Who got it?
2 there is a coordinator how trustable are they?
3 are they going to stay around?
4 why are there transactions not being confirmed for hours seems to be a real problem If you go on the IOTA subreddit.
5 not really a problem with the usability of IOTA but as I understand there is no privacy with IOTA that you can get with quite a few others (they are all blockchains tho :( )
I'm old too... Thanks for reminding me 🤣
you cut off the dial up before the Di-Dong Di-Dong :-)
9:30 ha, gotcha! this time i'm not on the toilet. Last time you made this joke I was. But this time I WIN! Yay me!
Can confirm: on toilet.
Michael Wade Same
💩
13 minutes on the shitter would normally render my legs unusable. I'm impressed.
Michael Wade
I was before he said it. I'm a fast pooper.
Ha! He saw you! Remember guys. Cover you cameras.
Very funny video :) and an excellent way of explaining blockchain. thanks Joe
Hey Joe, could you please make a video that talks about the certain strengths of each major cryptocurrency out there. For example, bitcoin, Litecoin, Ethereum, IOTA, and Ripple. These past two videos I loved, even though they were mostly just on how blockchain works, but I would prefer to have an analyst type view on each of them. Thanks, keep up the hard work!
ripple?
Substratum EOS and horizon state :-)
Sorry, XRP might be a better name.
Can you do one on Service Now?
if this, then that ...
Where is the added value, as compared to normal programming?
If there was a way to automate decision making... oh right, computers and anything we can program.
But how can you make good decisions without block chain... wait, block chain doesn't help with making actual decisions?
But how can we be sure, that communication between nodes is secure., if you don't have distributed network of crypto miners, that spend billions of dollars on energy to align zeros nicely... asymmetric cryptography with private, public key? Is that a thing?
TheMiczu Programming is done by programmers. Programmers work for a corporations or other centralised collectives like NGO’s or governments agencies. You only open an account with a bank you’ve heard of and trust. You only purchase automobiles with brand you know and trust. Blockchain and tangle are a way of creating consensus/trust without these centralised collectives. It is a way to organize society quasi-anarchic way without the need for big entities to oversee what we do. Every node participates in the check and balance process to keep the systems integrity in check.
I would love a list of links for the blockchain tech-using companies like Steem and others. Would you be able to put it into the description, please?
coinmarketcap.com has a list of over 1300 with links to their websites, things like etherium and iota are near the top but sometimes best to know what crypto you're looking up, some are a ways down the list, for example Substratum is 95th as of posting.
Woooow weird. Watching your vids all morning on my laptop, the cups of coffee took me to the toilet as I went to mobile. Then you call me out while I'm on the 🚽 Good call Joe!
You're OLD? I saw my first calculator in college in September of 1972. It was a Craig 4-function that retailed for $100.00. It was equivalent, for me, of suddenly noticing today, without any advance notice, that FORCE FIELDS are being used by private citizens. No exaggeration.
I’m in my early twenties and I know that sound lol. 😂
Can the people whose computers are hosting blocks access that information?
How come you have just 82K subscribers? Should be at least 820K.
sure I know what that sound is. Its what the com sounds like on the origional star trek
I like to explain block chain as a way to order facts. By ordering facts you can encode concepts like finitude in a space where data can be readily copied. So, for example, you have X of something, you give Y of something, now you have X-Y of that something. Three facts that only make sense in order. Described like that, currency is an obvious application of the technology.
@Jeo - I wish you'd mentioned about blockchain and voting system. How we can totally eliminate fake comments, fake votes etc using blockchain technology. Thanks!!
Yeah this is pretty neat. there are some crazy ways people are suggesting it could be used.
that would shake up a few "democracy's"
horizon state is a project i herd of working along those lines
oh god what a throwback to the hampster website lol
The FCC crack was on point. 😂
Can you talk about quantum computing ?
Cool. thanks Joe
Joe, you funny! And I like it!
I can remember man walking on the Moon, they said that would change the world, but it was the internet!
Hey Joe, new fan of your channel here! Great work, BUT.. (haha).. I would like to point out the some stuff from this video.. the most important attribute of blockchains and smart contracts, if any, is data integrity and non-repudiation - meaning it is not regulated (for the good and bad..) and for hackers who want to hack the system, they need to hack everyone on the network (which is close to impossible), not so much automation. The automation is still done with programming. Other than that, it is a very good video.
Just giving everyone a heads up...a newer cryptocurrency called ProCurrency will be talked about for the first time on national TV (Fox and CNN) on January 19th 2018. Spokesperson is Kevin Harrington. Kevin was an original “shark” from hit TV show SharkTank. Kevin is also the creator of "As Seen on TV". There is large nationwide national advertising campaign for this currency starting 1/19/18.
you've redeemed yourself, got to say i was a bit disappointed with your bitcoin video, but this one was awesome, great name drops, all very interesting projects, great work.
Warning - this stuff is addictive
Yeah, I've noticed that. I need to get away from it for a while. :)
I started in June and have made a ton of money (for somebody who didn't have much to start with)
It's hard for me to imagine this technology is irrelevant.
I remember using FTP through DOS
Yo, what will happen if we will place a tiny camera near the event horazin of a tiny black hole that will evaporate before takeing the camera in? will we be able to see into the future becouse of time dilation?