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1. 01:55 Ever since the financial crisis of 2008, people seems to be losing trust and faith on the large financial firms as those firms are only in for themselves. This is where bitcoin comes in, it is a virtual currency that was invented in 2008. Currently there are only 11 million bitcoins exist and only 21 million will be created. Similar to gold coin, which are mined from the gold mine, the bitcoin will also need to be 'mined' - every time when someone solve a complex math question, a bitcoin will be unlocked and enter into the economy.
2. 01:54 The currently stage of the bitcoin development is similiar to the TCP/IP of Internet few decades ago. It allows bitcoin to flow around the world. The currently values of bitcoin is about 2 billions and the bitcoin is being accepted as a form of currency for more and more traditional services.
3. 01:09 Many people prefer bitcoin because they don't want their hard earned money to be played by the large financial institutes or to face the threat from government manipulation. Bitcoin is simply another form of currency, but it is very hard to be controlled by third party. Author argues that bitcoin can be slowed, but it can never be completely banned.
4. 01:26 Author talks about the potential value of bitcoin. How should the value of bitcon be evaluated? It all depends on how it will be used in the future. Currently each coin worth about $130. But if bitcoin takes the spot as gold (gold v2.0) and to be used as Federal Reserve, then the value of it could soar significantly, to about $400,000 a coin. Author has also suggested people to start place bitcoin into their balanced investment portfolio. Author believes that the world needs more 'red pills', more change that is, and is very optimistic about the future of bitcoin.
5. 01:31 the Wxxxx Brothers, inventors of the bitcoin, are planning to launch a Exchanged Traded Funds (ETF) for bitoin, however, author listed a number of things to argue that it is not a good idea to invest into such ETF.
OBSTACLE: 03:55 Americans hate inside trading, and they believe those inside traders belong to jail. The biggest inside trader that was busted in history so far is Raj xxxxxxx. He has accumated over $7 billion worth of trading profit during his career. However, the invesgiation reveals that only small portion of those money are gained through inside trading and the majority of the earning were actually earned legally. |
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