Coin Con; BitCoin and BlockChain, Feat. Amazing Grace

Video Transcript:

Hi everyone, I wanted to share this video with you that was originally done by the youtuber Amazing Grace. She's no longer got a channel up anymore and I think it's a crime that this video is missing off the internet because it has a lot of really good information. It highlights the link that Bitcoin has with blockchain. Now you speak to most people and they probably heard about Bitcoin, they know it's online currency, ask them what blockchain is, they have no idea and yet as this video demonstrates it is absolutely crucial. In fact if you do a search for blockchain you'll see they market themselves as the world's most popular Bitcoin wallet so it's just software that helps you carry around coins at your currency. Of course there's lots of competing wallets no doubt one of which is this company Tresor. They've got lots of very pretty pictures and they even sell a bit of software here. We're a little gadget that you can plug into your computer. So this isn't like a physical wallet but they also do software. Can't think what they probably charge for one of these. Technical specs. You want to find out about these people because if you look at buying Bitcoin, you see here it was down to 6,611 pounds for one Bitcoin. In fact interesting I'm sure this was just a coincidence but when I did a search can you believe it's a value of 6336? It's like you demonic in that number but like I say if you want to buy Bitcoin if you want to try trading and investing in it, robot names. The actual robots they used to trade minimum deposit $250. That would barely buy you a tenth of a Bitcoin. I'm more commonly referred to Bitcoin as BitBollocks or Coincom. I can say let's see the people that you're entrusting your minimum $250 investment with. Oh the co-founder is stick and slash right okay great. They're not even giving us our real names and they want us to give us $250. So let's see if surely they're going to give us an actual real people we can contact if we need to. Nope they've given us the dog. First name terms always. Can't click on any of these people to find out who they actually are. Could be anyone. Could all be made up personalities. When a person asks you to trust them with all your money and yet won't even give you their second name or even a lot of cases their first name. Be suspicious. Okay that's generally my advice. So this is one of the competing wallets like blockchain presents itself just a Bitcoin wallet. Actually the true fears which we see from amazing graces video. I'm sure you've seen games at Angry Birds or Example where you can buy coins with real money of course. Hillclimb Race in if you want to spend nearly 20 pounds you can get 3500 diamonds and with those diamonds you can upgrade your car etc. Okay think of Bitcoin as this currency whereas blockchain is the actual game it runs on. Without the game the currency is worth nothing without the platform. The currencies have no value but of course talk to people and they've all heard a Bitcoin none of them have heard of blockchain. For surely this is real currency it isn't real currency. Virtual currency has no actual physical value. Don't think you have a coin to play with. Do you want to play heads and tails. You don't even have that coin. I did that do a search or what can you buy with Bitcoin. Coin Death tells us. After an initial flow of interest among merchants and accepting Bitcoin in their retail or online stores interest has largely died down. It's increasing Bitcoin, trying to feed them volatile pro-smeasements made it less attractive as a means of exchange. That doesn't mean that there are no outlets to spend your Bitcoin. However for a from it it's just that Bitcoin volumes at these outlets is generally not met expectations and by the time you read this some may have discontinued that option. So all these retailers might have come out saying yeah well accept Bitcoin are actually now you've spent minimum $250 on a Bitcoin we ain't accepting them anymore. I have to call demonstrates what a complete joke Bitcoin is. At the time of writing however you can still buy a wide range of goods and services with cryptocurrency. Among the advantages of doing so are ease of cross-border transaction and anonymity unless you want physical delivery of course. So if you actually want to buy something that you physically receive you've got to give them all your information. You give to the recipient will then be able to spend a gift card at one of the wide range of outlets. You can pay for flights and hotels with Bitcoin. If your ambitions are loftier you can pay for space travel with some of your vast holdings through Virgin Galactic. So Virgin Galactic accept Bitcoin for a seat on one of their space flights which despite being in development for decades now no one's got anywhere near going into that space and never will they. You see a Microsoft accept Bitcoin's in the App Store where you can download movies games and app-based services. Now Microsoft's App Store isn't particularly big. I think it'd be a lot more appealing if Google Play Store accepted it or iTunes and as you'll see actually Apple are one of the big investors in blockchain so it makes you wonder why they don't accept it. The video by Amazing Grace is a lot of really good information and I certainly recommend you watch it. We're provided for a K God will provide you a thing you need. You don't need to go running after the next Get Rich Quick theme. I mean they've given us a national lottery. Now they're trying to convince us to buy imaginary money. It's a joke okay. Generally in life if you're prepared to give then you're likely to receive as well. I don't need money. I would like to thank Amazing Grace for allowing me to upload this video and hit me with any comments or questions you have. Thank you. So today's video is as you can tell covering Bitcoin in cryptocurrency specifically with blockchain technology. I'm going to tell you that the two are completely crucial to one another and not as they seem. Bitcoin was produced a few years back and while I'm not an expert in Bitcoin and don't profess to be what I do know is that Bitcoin was developed by what those behind Bitcoin will lead you to believe was developed alongside a system called blockchain and that cryptocurrency cannot work for that blockchain. This is there I suppose what they call their white paper. This kind of introduces cryptocurrency Bitcoin and what it means and everything behind it and they clearly mention here about how information is held within blocks. Blockchain technology to kind of put it in general terms is records of transactions or activities and each transaction activities placed in a block and then each of those blocks are connected with a hashtag or a hash function and then they create a chain of blocks and it can't be hacked into it can't be changed you can't go in and you know tamper with it and it's also a public ledger so it's open to people to go in and have a look which actually is quite crucial and they sell it to you that that's because it's an open platform you know it's there's nothing to hide you can't tamper with it anyway but for me personally I believe that it's a public ledger on purpose to enable anyone to use it now in general member of the public wouldn't necessarily be bothered to even look at it but businesses and companies they can tap into that forever means they choose because it's become public it's not private and there's no restrictions on the information now blockchain can be used for many different reasons and it's been rolled out now that bitcoin has been using it and in my opinion was a kind of testbed for blockchain that bitcoin has not been pushed out there in order for you or I to buy into a currency that does not have direct contact with a singular bank or a government that is almost publicly owned self-governing I don't believe that's what it is I believe bitcoin was key to pushing blockchain because bitcoin has financial value and basically more people are likely to be interested in something like bitcoin then if they were to roll blockchain out under something like one of these other uses if they used for instance voting or something like that as a way of like this for instance if they use bitcoin and sorry they use blockchain initially to push voting and legislation and most people would just not have been that interested so bitcoin brought in a following which then fed into bitcoin by buying bitcoin and using it and having transactions involved in it which fed into the blockchain network creating basically in a nutshell a database of transactions and information about everybody that used it and because then it worked people it was working well the blockchain technology was working well like I said it's nothing to do with whether bitcoin itself singly was any good and of course eventually it probably won't exist anymore because it will have fulfilled its purpose they've also then trialled out other things that seemed quite harmless in order for us to then keep using the blockchain technology feeding into the system that is a database of our activities and the reason that in itself is not good is because once that system is up and running excuse me am I scrolling once the blockchain technology was up and rolling and worked other people were able to tap into it because it's a public domain like singularity net who are heavily involved in Sophia for instance and she is plugged into blockchain and she learns from blockchain and she learns about our behaviors and other types of AI have been developed with blockchain technology in mind so basically what I'm guessing at is AI is being developed for 20 30 years and once it got to a point where it was ready to then be plugged into a system to learn so they could then test whether they could learn a higher level of intelligence then they needed a computer system that was allow them to learn from our behavior now we have algorithms and so forth already but it's not it's not easy to tap into them generally you kind of have to have an algorithm for a specific thing where blockchain kind of connects to everything I mean it's everything will run off of it eventually including things like you can open a company in a business and you can have contracts are all completely digital and the minute someone signs a contract that block that transaction that signature is held within a computer system never to be touched never to be tampered with you can't lend a nye you signed it you can't then change the contract details it's held on a database forever so yeah you can do all sorts of things with this so Sophia another AI can tap into that and learn from us and that was the whole point of blockchain so if you're buying into Bitcoin basically you are feeding this system with information and that's that is the only reason like I said Bitcoin was developed it was in order to roll out blockchain and therefore then allow all these other systems to run off of it singularity net you should really look this up if anything like this interests you they have lots of things going on and they are all into AI and as many platforms as possible for AI to work off of it's handsome robotics who developed Sophia go look them up to very interesting have a cloud-based infrastructure which is also something blockchain uses cloud storage all to do with blockchain as well and they make it quite clear that singularity net or singularity net is AI and blockchain together so yeah there is your reasoning behind Bitcoin and any other cryptocurrency singularity net power for what they call their white paper again rolling out details about what they planned for the company to be involved in and they list blockchain integration quite clearly there as well as part of it all and this is rolled out after Bitcoin remember you have company setup that are dealing with blockchain on a vast level in different platforms for different ways and openly tell you that their team are trained by companies such as Amazon Google Goldman Sachs NASA BBC banks Apple I mean it kind of says it all really lots of money in these and lots of agendas I should imagine and of course they'll power their money into this no damage you know we think that Bitcoin was there to save us from people like Goldman Sachs and actually they're heavily involved and again here another company would clearly say AI blockchain because that is what like blockchain has been developed for and also to bring to your attention that things like Bitcoin for instance actually confined it yeah Bitcoin is actually one of the companies that support singularity net so while you're feeding data into Bitcoin and buying Bitcoin and making Bitcoin more popular and worth more money the revenue they get from that then gets poured into a system that then uses blockchain to enable it to develop AI even further so it's all part of the same systems singularity net the company their whole agenda they've got Sophia here on their front page of their website they developed hey let's get that clear they would have been the ones that developed blockchain and then what a sat down said how can we release blockchain into the world get people to feed into blockchain so we can then test other systems out on it that will then allow us to get even more people to feed into it to then allow us to plug AI into it to learn from those people and and become more intelligent so I can only say though I has generalized this information I do on purpose generalize it because people really need to look at this themselves this subject is huge and I could literally make about 21 hour videos on it so I've put a little bit of detail of everything on there so something jumps out at you and you find that particularly interesting go ahead just have a gander and research it for yourself because the only way you'll really truly learn about this stuff is researching it yourself I am just pointing out some interesting details for you and the message of this video is obviously don't buy into Bitcoin and cryptocurrency you are just feeding into a system that is there for AI it is not a good thing to be dealing with or to be feeding into so I think twice when it comes to