![Cargo Class Bitcoin with PayPal [PayPal Bitcoin isnt Bitcoin] @aantonop](https://i.ytimg.com/vi/C4OIUEaW5Jc/maxresdefault.jpg)
Uploaded December 2020 | Updated September 2026, 1 hour ago
The headlines say, "Bitcoin is now available on PayPal!" But is it? (hint: no) Why is PayPal bitcoin not really bitcoin? What risks does this present to PayPal? What are the risks to the Bitcoin network when these types of intermediaries have massive holdings of bitcoin? Watch this short video now; protect yourself, your people, and the network by learning about the risks.
Chapters
0:00 Tobi asks, "Do you see a danger of Bitcoin becoming fractionalised by (for example) Paypal in a way that the total available balance from all accounts will inflate the actual supply?"
0:24 Risk to PayPal: High risks for PayPal, this could bankrupt them
1:57 Risk to buyers of PayPal bitcoin: If you buy bitcoin on Paypal, you did not buy bitcoin
3:08 Risk to Bitcoin: the real risk is increasing the amount of bitcoin owned by intermediaries
5:08 Consolidation of power into the hands of regulated entities who are beholden to money and not to the principles of bitcoin is the big risk to the Bitcoin network
5:32 Let's not sacrifice principles for price appreciation
5:52 My optimistic hope for the future of intermediaries and the network
NOTE: In the video, Andreas references PayPal bitcoin holders as Second Class but it's worse than that. In hindsight, they are actually Cargo Class, because unlike most exchange accounts, you can't actually withdraw bitcoin to your own wallet from PayPal! You're stuck in cargo. No seat, no fresh air, no food and beverage service, amongst the boxes with no hope of moving up to second or first class.
This video was recorded on Saturday, November 28, 2020, as part of the Open Topic Bitcoin & Open Blockchain Monthly Q&A session. Watch the entire livestream here: aantonop.io/nov2020livestreamqa
In the comments there have been a lot of questions about forks. If you're new and you're looking for a basic explanation on forks, take a look at my video Forkology: aantonop.com/forkology
What is the Open Topic Bitcoin & Open Blockchain Monthly Q&A session?
Once a month, Andreas answers community questions on anything related to Bitcoin, Ethereum, the Lightning Network, really anything related to open blockchains. He’s live on YouTube for about an hour, answering the best questions asked by Community Builders on Patreon, Community Members on YouTube, and anyone who shows up during the event.
How can I ask questions and vote?
Well, this event is over but you’re welcome to ask your question at the next Livestream event. You can find out when it is by subscribing to the channel and turning on notifications or by visiting this playlist youtube.com/playlist?list=PLPQwGV1aLnTtqBtaD-hSCf9RwpwQQy-Ji.
Community Builders who support this free work on Patreon get to ask questions and vote on questions at least a week before the event. YouTube Community Members who support this work get to ask questions and vote an hour before the event starts. Everyone else gets to ask questions and vote on questions when the event starts. Giving early access is a small way Andreas can give something to the people who help to financially support the mission and still include anyone who wants to participate.
SUBSCRIBE to this YouTube channel and select the bell 🔔 for notifications: aantonop.io/youtube
JOIN this YouTube channel to become a YouTube Community Member and access custom emojis and other perks: aantonop.io/youtube
BECOME a Community Builder: patreon.com/aantonop
LEARN for FREE by taking aantonops Introduction to Bitcoin & Open Blockchains Workshop aantonop.io/takeaworkshop
You may already know that Andreas’ mission is to educate as many people as possible about Bitcoin and open blockchain technologies. Watching and sharing these videos is one way to do that. Thank you for being part of this mission!
About aantonop: Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at aantonop.com
***Learn More From Andreas’ Workshops, Books & Events**
Amazon & Kindle: amazon.com/-/e/B00MVAG8Z8
Audible: audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8
E-books & Merch: aantonop.io/shop
Patreon: patreon.com/aantonop
Website: aantonop.com
Workshops: aantonop.com/workshops
***Connect with Andreas on Socials***
Facebook: facebook.com/AndreasMAntonopoulos
Instagram: instagram.com/amantonop
LinkedIn: linkedin.com/company/aantonop
Twitter: twitter.com/aantonop
Music: "Unbounded" by Orfan (twitter.com/grassfedbitcoin)
Thanks for watching!
The headlines say, "Bitcoin is now available on PayPal!" But is it? (hint: no) Why is PayPal bitcoin not really bitcoin? What risks does this present to PayPal? What are the risks to the Bitcoin network when these types of intermediaries have massive holdings of bitcoin? Watch this short video now; protect yourself, your people, and the network by learning about the risks.
Chapters
0:00 Tobi asks, "Do you see a danger of Bitcoin becoming fractionalised by (for example) Paypal in a way that the total available balance from all accounts will inflate the actual supply?"
0:24 Risk to PayPal: High risks for PayPal, this could bankrupt them
1:57 Risk to buyers of PayPal bitcoin: If you buy bitcoin on Paypal, you did not buy bitcoin
3:08 Risk to Bitcoin: the real risk is increasing the amount of bitcoin owned by intermediaries
5:08 Consolidation of power into the hands of regulated entities who are beholden to money and not to the principles of bitcoin is the big risk to the Bitcoin network
5:32 Let's not sacrifice principles for price appreciation
5:52 My optimistic hope for the future of intermediaries and the network
NOTE: In the video, Andreas references PayPal bitcoin holders as Second Class but it's worse than that. In hindsight, they are actually Cargo Class, because unlike most exchange accounts, you can't actually withdraw bitcoin to your own wallet from PayPal! You're stuck in cargo. No seat, no fresh air, no food and beverage service, amongst the boxes with no hope of moving up to second or first class.
This video was recorded on Saturday, November 28, 2020, as part of the Open Topic Bitcoin & Open Blockchain Monthly Q&A session. Watch the entire livestream here: aantonop.io/nov2020livestreamqa
In the comments there have been a lot of questions about forks. If you're new and you're looking for a basic explanation on forks, take a look at my video Forkology: aantonop.com/forkology
What is the Open Topic Bitcoin & Open Blockchain Monthly Q&A session?
Once a month, Andreas answers community questions on anything related to Bitcoin, Ethereum, the Lightning Network, really anything related to open blockchains. He’s live on YouTube for about an hour, answering the best questions asked by Community Builders on Patreon, Community Members on YouTube, and anyone who shows up during the event.
How can I ask questions and vote?
Well, this event is over but you’re welcome to ask your question at the next Livestream event. You can find out when it is by subscribing to the channel and turning on notifications or by visiting this playlist youtube.com/playlist?list=PLPQwGV1aLnTtqBtaD-hSCf9RwpwQQy-Ji.
Community Builders who support this free work on Patreon get to ask questions and vote on questions at least a week before the event. YouTube Community Members who support this work get to ask questions and vote an hour before the event starts. Everyone else gets to ask questions and vote on questions when the event starts. Giving early access is a small way Andreas can give something to the people who help to financially support the mission and still include anyone who wants to participate.
SUBSCRIBE to this YouTube channel and select the bell 🔔 for notifications: aantonop.io/youtube
JOIN this YouTube channel to become a YouTube Community Member and access custom emojis and other perks: aantonop.io/youtube
BECOME a Community Builder: patreon.com/aantonop
LEARN for FREE by taking aantonops Introduction to Bitcoin & Open Blockchains Workshop aantonop.io/takeaworkshop
You may already know that Andreas’ mission is to educate as many people as possible about Bitcoin and open blockchain technologies. Watching and sharing these videos is one way to do that. Thank you for being part of this mission!
About aantonop: Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at aantonop.com
***Learn More From Andreas’ Workshops, Books & Events**
Amazon & Kindle: amazon.com/-/e/B00MVAG8Z8
Audible: audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8
E-books & Merch: aantonop.io/shop
Patreon: patreon.com/aantonop
Website: aantonop.com
Workshops: aantonop.com/workshops
***Connect with Andreas on Socials***
Facebook: facebook.com/AndreasMAntonopoulos
Instagram: instagram.com/amantonop
LinkedIn: linkedin.com/company/aantonop
Twitter: twitter.com/aantonop
Music: "Unbounded" by Orfan (twitter.com/grassfedbitcoin)
Thanks for watching!
![Cargo Class Bitcoin with PayPal [PayPal Bitcoin isnt Bitcoin]](https://i.ytimg.com/vi/C4OIUEaW5Jc/mqdefault.jpg "Cargo Class Bitcoin with PayPal [PayPal Bitcoin isnt Bitcoin]
The headlines say, Bitcoin is now available on PayPal! But is it? (hint: no) Why is PayPal bitcoin not really bitcoin? What risks does this present to PayPal? What are the risks to the Bitcoin network when these types of intermediaries have massive holdings of bitcoin? Watch this short video now; protect yourself, your people, and the network by learning about the risks.
Chapters
0:00 Tobi asks, Do you see a danger of Bitcoin becoming fractionalised by (for example) Paypal in a way that the total available balance from all accounts will inflate the actual supply?
0:24 Risk to PayPal: High risks for PayPal, this could bankrupt them
1:57 Risk to buyers of PayPal bitcoin: If you buy bitcoin on Paypal, you did not buy bitcoin
3:08 Risk to Bitcoin: the real risk is increasing the amount of bitcoin owned by intermediaries
5:08 Consolidation of power into the hands of regulated entities who are beholden to money and not to the principles of bitcoin is the big risk to the Bitcoin network
5:32 Lets not sacrifice principles for price appreciation
5:52 My optimistic hope for the future of intermediaries and the network
NOTE: In the video, Andreas references PayPal bitcoin holders as Second Class but its worse than that. In hindsight, they are actually Cargo Class, because unlike most exchange accounts, you cant actually withdraw bitcoin to your own wallet from PayPal! Youre stuck in cargo. No seat, no fresh air, no food and beverage service, amongst the boxes with no hope of moving up to second or first class.
This video was recorded on Saturday, November 28, 2020, as part of the Open Topic Bitcoin & Open Blockchain Monthly Q&A session. Watch the entire livestream here: https://aantonop.io/nov2020livestreamqa
In the comments there have been a lot of questions about forks. If youre new and youre looking for a basic explanation on forks, take a look at my video Forkology: https://aantonop.com/forkology/
What is the Open Topic Bitcoin & Open Blockchain Monthly Q&A session?
Once a month, Andreas answers community questions on anything related to Bitcoin, Ethereum, the Lightning Network, really anything related to open blockchains. He’s live on YouTube for about an hour, answering the best questions asked by Community Builders on Patreon, Community Members on YouTube, and anyone who shows up during the event.
How can I ask questions and vote?
Well, this event is over but you’re welcome to ask your question at the next Livestream event. You can find out when it is by subscribing to the channel and turning on notifications or by visiting this playlist https://www.youtube.com/playlist?list=PLPQwGV1aLnTtqBtaD-hSCf9RwpwQQy-Ji.
Community Builders who support this free work on Patreon get to ask questions and vote on questions at least a week before the event. YouTube Community Members who support this work get to ask questions and vote an hour before the event starts. Everyone else gets to ask questions and vote on questions when the event starts. Giving early access is a small way Andreas can give something to the people who help to financially support the mission and still include anyone who wants to participate.
SUBSCRIBE to this YouTube channel and select the bell 🔔 for notifications: https://aantonop.io/youtube
JOIN this YouTube channel to become a YouTube Community Member and access custom emojis and other perks: https://aantonop.io/youtube
BECOME a Community Builder: https://patreon.com/aantonop
LEARN for FREE by taking aantonops Introduction to Bitcoin & Open Blockchains Workshop https://aantonop.io/takeaworkshop
You may already know that Andreas’ mission is to educate as many people as possible about Bitcoin and open blockchain technologies. Watching and sharing these videos is one way to do that. Thank you for being part of this mission!
About aantonop: Andreas isnt promoting a company or an organization; hes paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at https://aantonop.com
***Learn More From Andreas’ Workshops, Books & Events**
Amazon & Kindle: http://www.amazon.com/-/e/B00MVAG8Z8
Audible: https://www.audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8
E-books & Merch: https://aantonop.io/shop
Patreon: https://patreon.com/aantonop
Website: https://aantonop.com
Workshops: https://aantonop.com/workshops
***Connect with Andreas on Socials***
Facebook: https://www.facebook.com/AndreasMAntonopoulos
Instagram: https://www.instagram.com/amantonop/
LinkedIn: https://www.linkedin.com/company/aantonop/
Twitter: https://twitter.com/aantonop
Music: Unbounded by Orfan (https://twitter.com/grassfedbitcoin)
Thanks for watching!")
![How Do Bitcoin Mining Pools Work? How are Bitcoin Mining Rewards Split? [2021]](https://i.ytimg.com/vi/CVzRqN_f29s/mqdefault.jpg "How Do Bitcoin Mining Pools Work? How are Bitcoin Mining Rewards Split? [2021]
How do participants in a bitcoin mining pool share rewards in a way that reflects their actual contributions and does not allow them to cheat? Watch and learn.
Chapters
0:00 How do participants in the bitcoin mining pool share rewards in such a way that reflects their actual effort without allowing miners to cheat?
0:33 How do mining pools work?
1:27 Difficulty targets and pool rewards
4:20 Participants cannot cheat
Related Videos:
What is a nonce? https://youtu.be/tjn2aoMaFlY
Nonces, Mining, and Quantum Computing: https://youtu.be/d4xXJh677J0
Number of Zeros or Target Difficulty in the Target Hash: https://youtu.be/_LPaIL6AqSQ
This question was part of the March 2021 Open Topic Q&A, see the entire session here: https://youtu.be/U0T49duRt74
COMMENT below and let us know what you think of the video. Post your follow-up questions there too!
SUBSCRIBE to this YouTube channel and select the bell 🔔 for notifications: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ?sub_confirmation=1
JOIN this YouTube channel about Bitcoin and open blockchains to become a YouTube Community Member and access custom emoji and other perks: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ/join
BECOME a Community Builder: https://patreon.com/aantonop
LEARN from Andreas in one of his popular Workshops which will teach you practical crypto skills. There’s even a FREE Intro to Bitcoin & Open Blockchains to get you started. https://aantonop.io/takeaworkshop
You can also learn from one of aantonops many books about bitcoin, ethereum, and open blockchains. Andreas has written three technical books for developers about blockchain technology, Mastering Bitcoin, Mastering Ethereum, and Mastering the Lightning Network published by O’Reilly Media. He’s also written The Internet of Money Series books, which explain why bitcoin, ethereum, and open blockchains matter.
About aantonop: Andreas isnt promoting a company or an organization; hes paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at https://aantonop.com
From Andreas: You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Watching these videos and sharing them with others is a big part of that. Thank you for being part of this mission.
***Learn More From Andreas**
Amazon & Kindle: http://www.amazon.com/-/e/B00MVAG8Z8
Audible: https://www.audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8
E-books & Merch: https://aantonop.io/shop
Patreon: https://patreon.com/aantonop
Website: https://aantonop.com
Workshops: https://aantonop.com/workshops
***Connect with Andreas on Socials***
Facebook: https://www.facebook.com/AndreasMAntonopoulos
Instagram: https://www.instagram.com/amantonop/
LinkedIn: https://www.linkedin.com/company/aantonop/
Twitter: https://twitter.com/aantonop
Thanks for watching, sharing, and subscribing!")
![Get YOUR Name in Mastering the Lightning Network Book [Contribute Your Knowledge & Expertise]](https://i.ytimg.com/vi/G7X4x7rHQQM/mqdefault.jpg "Get YOUR Name in Mastering the Lightning Network Book [Contribute Your Knowledge & Expertise]
Collaborative book writing? Yes, thats right. Weve been writing Mastering the Lightning Network for the past year and were planning to deliver it in mid 2021. You can help and if you do, youll get to add your name as a contributor! We need technical and non-technical help. Watch, learn, and contribute.
0:00 Will you give us an update on the Lightning Network book youre writing?
0:02 Node Client Chapter
1:00 The overall book is late because 2020 happened
1:25 Someone told me non-technical people can help too - is that true?
2:52 We welcome contributions for the Lightning Network book.
CONTRIBUTE TO THE BOOK: https://github.com/lnbook/lnbook
COMMENT below and let us know what you think of the video. Post your follow-up questions there too!
SUBSCRIBE to this YouTube channel and select the bell 🔔 for notifications: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ?sub_confirmation=1
JOIN this YouTube channel to become a YouTube Community Member and access custom emoji and other perks: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ/join
BECOME a Community Builder: https://patreon.com/aantonop
LEARN from Andreas in one of his popular Workshops which will teach you practical crypto skills. There’s even a FREE Intro to Bitcoin & Open Blockchains to get you started. https://aantonop.io/takeaworkshop You can also learn from one of his many books.
Andreas has written three technical books for developers about blockchain technology, Mastering Bitcoin, Mastering Ethereum, and Mastering the Lightning Network (2021) published by O’Reilly Media. He’s also written The Internet of Money Series books, which explain why bitcoin, ethereum, and open blockchains matter.
About aantonop: Andreas isnt promoting a company or an organization; hes paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at https://aantonop.com
From Andreas: You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Watching these videos and sharing them with others is a big part of that. Thank you for being part of this mission.
***Learn More From Andreas’ Workshops, Books & Events**
Amazon & Kindle: http://www.amazon.com/-/e/B00MVAG8Z8
Audible: https://www.audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8
E-books & Merch: https://aantonop.io/shop
Patreon: https://patreon.com/aantonop
Website: https://aantonop.com
Workshops: https://aantonop.com/workshops
***Connect with Andreas on Socials***
Facebook: https://www.facebook.com/AndreasMAntonopoulos
Instagram: https://www.instagram.com/amantonop/
LinkedIn: https://www.linkedin.com/company/aantonop/
Twitter: https://twitter.com/aantonop
Thanks for watching!")
