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Great presentation @lukestokes sir, now i understand the value of bitcoin and the value of blockchain.

I am not smart but I know Bitcoin will reach the moon.

I think many bitcoin investor and believers also don't understand the mechanism.

That's a great presentation! Thanks for sharing.

The point about fiat currency deriving value from it's ability to liquidate tax debt is really important, and often neglected.

great post 
bitcoin is the future and and it will remain like that

All these financial and economic experts have said that bitcoin is in this bubble which sooner or later will pop and everything will start crashing died. They mocked bitcoin and its community and said, how does bitcoin have a future if the community can't decide what fork they want even though despite the FUD we had such a smooth transition.

Bitcoin and crypto have huge value. We can see the dollar is being slaughtered and the global economy is in shambles and already we have world leaders like Putin who are leading mass mining operations.

It seems like many people will cling to a system we have used for many years rather than changing to something new, faster and efficient as well. I'd rather have my money in a wallet rather than a bank as well as most of us use digital transactions every single day.

Thank you for sharing this great video @lukestokes.
Also I'm liking the look of your cover image
I tried making the center more visible and legible but I can't think of a practical way to make this happen haha

Great video but comparing bitcoin to oil is not right, because the experts mean that some other blockchain with better technology will be the future and not bitcoin.

I thought the analogies with oil and fiat currency are very appealing. However that with Facebook and the network effect doesn't seem right since the Steemit will replace Facebook as well as Iota will replace Bitcoin. The network effect only benefits against the similar technology rivals but as soon as somebody improves the product in a dramatically way, there is no escape from the adoption of the better one.

Just subscribed to your YouTube channel....very educational.

Great stuff!  We at Idaho Bitcoin Group we’re JUST discussing this last night!  Would you ever be interested in joining us via Skype or a google hangout for a short presentation?

Thanks for sharing this video buddy. Bitcoin is here to stay, steem too.  Let us ignore the nay sayers and proceed with hardwork and optimism

In order to become successful in crypto world. You need some more trust and learn to love FUD. Learn from the past, take sometimes to look at the BTC history.

Very Interesting and challenging post. Several great points are made but the jury is still out on this one. In 2007, there were lots of people who saw the housing bubble; they were scoffed at, derided and made fun of. Then the crash happened. Fiat currencies have come and gone many times. One could argue that the financial types approach this a different perspective. Remember when beanie babies were all the rage?

I believe the financial experts are now understanding the blockchain. Awesome times we are in.

_**valuable information**_

For a long time I couldn't understand why nothing could cost money. You put all needed information on the shelves in my head. Great presentation! Thank you!

Thanks for sharing :)

Im as excited to see these type of posts that bitcoin is going upward its great,
but on the other hand there are some really needy people who want these money and who want help , im feeling so much shame to text here but im helpless dont take it wrong but this is not our mistake that we born in poor families , today some one is dying and she needs help .
plz read this post of me im collecting money for her treatment and your single vote can save her life plz help her by read this post

https://steemit.com/help/@enigmakomi/request-to-all-upvote-this-post-for-this-girlfor-her-cancer-treatment-for-her-life-for-her-future-this-post-is-for-her-help

is it our mistake to boen in poor families and today im begging every where and the people rather than help me they are calling me spammer , is it bad to want help from you people

your wallets are full , its good but take a look on this girl she is dying in hospital and im just asking for a little help from this post , 

im not a spammer but im just wanting help by posting the same comments on your posts plz help us people plz



plz dont take it wrong , we are helpless and some times it better to ask help although my way of requesting is wrong but im helpless plz share this post an support me and my loved one , she needs your help. may you and your family live in peace, your little help can save her life.

Can you kindly tell me more. Great post

@lukestokes, 

You should also post this on dtube.

https://dtube.video

good post. follow me @goga

nice post thanks

I really like the video! I must confess it took a long time for me to grasp the value of BTC myself. What do you think about Steemit, the network effect on the Steem blockchain should be pretty potent now?

blockchaing going to save the world

this is fucking brilliant

Here is the thing though. Engines/blockchain can only use fossil fuel... now. Blockchain projects like Cosmos, Wanchain, Chainlink, Kyber, EOS etc will make the engine burn all kinds of fuel from solar, hydro, nuclear..anything really. Fossil/bitcoin will only serve as a romantic antique.

OMG! I thought it was an aweful article. Words and terms like blockchain and bitcoin and intrinsic value seem to me as being conflated.

I'm all for the blockchain technology as a leger. Bitcoin is fine for being a fiat currency. And I use the term currency loosely . At least it isnì't issued bearing interst. And I certainly love seeing the two combined to drive central banking into obsolescence. But to say, or imply, bitcoin's intrinsic value is its network strength that it currently has amongst users and observers of cryptocurrentcies is hog wash.

I can take a piece of gold, whether it is coined or not, place it on a stye that might form on my eye or yours and it will begin rapid healing and become significantly smaller in a relatively short period of tme. Hours to a day or two. This is usefulness or value that gold contains, although not its only one.

Outside of a group keeping score on a leger of who has the encoded result of a machine generated equation, what can a bitcoin do? Remove any logs you might see in my eye?

Thanks for the upvote, I am now in my fifth post hope you can also pass by.........

Excellent! I shared this on Twitter with the #blockchain and #bitcoin hashtags. The world would be a better place if more people understood this.

This information is very importan for me, because I'm new in the crypto's world. The economy venezuelan is bad right now, and I have could find that I can change this situation investing in cryto and in Steemit, principally. I have learned all of you in this post. 
Thanks a lot.

Incredibly informative video Luke!!  I struggled with this antiquated way of thinking much to my detriment for years simply b/c I didn't understand the technology and didn't approach it with an open mind. 

I think another reason it's taking so long for some to understand the value and utility of BTC and crypto is the MSM and many talking heads providing inaccurate information.  The old adage "if you can't hold it, you don't  own it" is something still prevalent in many minds today.  What people need to understand is through paper or hardware wallets, you do indeed "hold" BTC.  I think as educators like yourself continue to put good quality content out there in easy to understand terms, more and more people will awaken to the benefits of crypto.   I think it will definitely be a battle though, for crypto represents a real threat to derail the monetary intermediary lotto that the banks now control.   Time is our ally here, for as each new person unplugs them self from the matrix of fiat control, more monetary freedom will be realized each and every day.

I watched the video, and it is a good explanation. But I feel everybody is talking too much about Bitcoin and forget to mention that Bitcoin is 1st generation. I feel like many altcoins are much easier to explain in terms of value to people. Once they understand how SC has value because it represents online storage, they will get a better grasp of what the technology can do. Then after I explain how things like LBRY and Basic Attention Token works, these have easily understandable business cases. And from thereon I extrapolate towards Ethereum and NEO platforms. Then at the end I tell them one important valuable thing you can do with Bitcoin: To buy other crypto, and they will finally see that Bitcoin can be used to purchase useful things, and is basically the only way to buy many of the useful other crypto's.

great post .. very relevant and must watch for actual investors of Crypto 
here is my 2 cents ..

Bitcoin is trying to find its fair price... and no one knows its fair value is 400$ or $4000 or $40000  

bitcoin(could be some other crypto .. could be ripple ether etc ) will be dominant universal currency . just like USD was needed when 2 different countries need to trade goods , sooner or later some crypto will replace the USD . i do have several supporting articles and proofs regarding this claim ( which i probably present in a new post.)

At this point no body can honestly say what is the fair value of such a universal currency. the Penetration of Crytocurrency world wide is less than 0.08% at this point we are at 135 billion Market cap even when this penetration increases to 1 percent you can do the maths of the Crypto market cap and accordingly.

More importantly as the video says its the rarity and finite existence of  the currency that imparts more value to it.

This was so easy to understand! Thank you for sharing this. The comparison to fiat currency is a great one that maybe the pure CFA's can understand! I wonder if Bitcoin or Facebook will be replaced first! haha

nice sir its too right really very smart and many people are wrong but now i think i know about it @lukestokes sir