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Wences Casares Explains Bitcoin

Xapos’ Wences Casares gives one of the most comprehensive explanations at the Chicago Gold Ideas conference of why Bitcoin is the most important development in money in 5,000 years.

He believes over the next 20 years it will replace the 5,000 year old gold standard, and though it won’t replace national currencies it will become the digital currency protocol of the internet and may do for money what TCP/IP did for information.

He explains the function of money, and the attributes and qualities of money, and the myths about money.

Just as you can make a transaction with someone in the room using the current universal ledger, which is the US dollar at this time, or trade with the best ledger at keeping value to date, which is gold, without any third party, the Bitcoin technology allows you to make a transaction with anyone in the world, to expand the size of the room to the whole world, without needing to trust or use a third party to make the transaction.

He outlines thee phases in the adoption of bitcoin, where it is now, and where it is headed.

[Please contact the person who referred you to this video for a legitimate way to make bitcoin by sharing bitcoin with others.]

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