Uploaded November 2020 | Updated September 2026, 2 hours ago
What Is a Ponzi Scheme? Is Fractional Reserve Banking a Ponzi? Well, what are the characteristics of a Ponzi? In this video Andreas walk through the fractional reserve banking scheme and answers the question, can Bitcoin fix this?
0:00 Is the banking system is a Ponzi scheme, and could bitcoin solve this?
0:43 What is Fractional reserve banking? What are the characteristic of a Ponzi scheme?
3:57 How does bitcoin solve this atrociousness?
This question is from the October Patreon Q&A livestream, which took place on October 24th, 2020. Watch the entire video here: youtu.be/maS5xUMZo7E. If you want to ask questions early (before the live event), become a Community Builder on Patreon: patreon.com/aantonop Patrons get early access to ask questions, view talks, behind-the-scenes content, and much more.
Related Videos:
Will Bitcoin Become the World's Reserve Currency? - youtu.be/ctz4E5Z21No
Lost Coins and the Deflationary Experiment - youtu.be/IYtAevJIy5E
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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
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: amazon.com/-/e/B00MVAG8Z8
Audible: audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8
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***Connect with Andreas on Socials***
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LinkedIn: linkedin.com/company/aantonop
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Music: "Unbounded" by Orfan (twitter.com/grassfedbitcoin)
Thanks for watching!
What Is a Ponzi Scheme? Is Fractional Reserve Banking a Ponzi? Well, what are the characteristics of a Ponzi? In this video Andreas walk through the fractional reserve banking scheme and answers the question, can Bitcoin fix this?
0:00 Is the banking system is a Ponzi scheme, and could bitcoin solve this?
0:43 What is Fractional reserve banking? What are the characteristic of a Ponzi scheme?
3:57 How does bitcoin solve this atrociousness?
This question is from the October Patreon Q&A livestream, which took place on October 24th, 2020. Watch the entire video here: youtu.be/maS5xUMZo7E. If you want to ask questions early (before the live event), become a Community Builder on Patreon: patreon.com/aantonop Patrons get early access to ask questions, view talks, behind-the-scenes content, and much more.
Related Videos:
Will Bitcoin Become the World's Reserve Currency? - youtu.be/ctz4E5Z21No
Lost Coins and the Deflationary Experiment - youtu.be/IYtAevJIy5E
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
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
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: 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 Crypto Airplane: understanding cryptocurrency ownership [bitcoin, ethereum]](https://i.ytimg.com/vi/tYldJpSPeqg/mqdefault.jpg "The Crypto Airplane: understanding cryptocurrency ownership [bitcoin, ethereum]
Does it matter if your crypto is on PayPal, a cryptocurrecy exchange, or if you own your own keys? What might seem like small differences are actually significant, its the difference between having a seat reservation and flying standby. Watch this video to understand the concept cryptocurrency ownership in a whole new way.
Chapters
0:00 Introduction
1:11 Aviation and cryptocurrency
1:51 Different classes of ownership in cryptocurrencies
2:44 Big financial institutions that entered the cryptocurrency space
6:38 Business class
7:27 First class
8:43 People who had never flown on business and first class
11:07 Upgrading through skills/education
12:46 People who are going on a vacation and the people who predicted the flood
14:41 Aviation and cryptocurrency enthusiast
17:40 Standby
22:15 Always be prepared for a flood
23:23 Ownership in crypto has different levels
24:42 Get educated and help the people on the seats behind you
Talks like these are part of what has made Andreas the go-to person for cryptocurrency and open blockchain education. The crypto airplane is a talk that is intended to explain, in simple and relatable terms, how classes of cryptocurrrency ownership actually work. This talk is bursting with analogies that illustrate to even the least tech savvy people the differences in classes of ownership of bitcoin. Buying cryptocurrency through PayPal is like buying a standby ticket for a flight. You might get on the plane, but you might not is one example. Cryptocurrency explained in simple, relatable terms, is one of the things Andreas is known for.
COMMENT below and let us know what you think of the video. Post your follow-up questions there too!
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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!")
![Cryptocurrency Explained: Chinese Bitcoin Mining, Taproot activation, Megacorps & Bitcoin [2021]](https://i.ytimg.com/vi/vGuCz56ihb4/mqdefault.jpg "Cryptocurrency Explained: Chinese Bitcoin Mining, Taproot activation, Megacorps & Bitcoin [2021]
Looking for an entertaining, trustworthy, unbiased opinion on bitcoin and open blockchains? This is it. Take a look at the timestamps to find the questions youre most interested in!
0:00:00 In the Beginning
0:01:39 Welcome and we are live
0:02:38 Do you think mining is becoming more or less decentralized? How open to Sybil attack are measurements of decentralization? Common FUD around bitcoin involves the Chinese near-monopoly on mining. Can this be definitively proven or refuted? [Demosthenes]
0:10:24 In a world of 100%(or near) ultra-cheap, renewable energy: what happens to the security of the Bitcoin network? Thank! [Mat G]
0:13:00 What is the ordering of transactions in a Block ? Does the miner decide the ordering?
0:21:50 Upcoming content changes, Q&A, audio-only, and more
0:24:50 What is speedy trial BIP8? And what does it mean for taproot activation. And i heard that taproot activation has already launched [Anthony]
0:34:35 In the event of a fork or BIP or similar, how do I vote with my node?
0:37:20 Thank you to Patrons and supporters
0:42:05 Bitcoin is very transparent and thus is not really 100% fungible any more due to tagging by banksters. Can you think of a reason why a smart person like Satoshi did not implement anonymous transactions right from the beginning? [outbacktrader]
0:45:59 Which of the BTC privacy services (Wassabi Coinjoin/Samurai Whirlpool/JoinMarket etc...) are easiest to use for a beginner? What are some of the unexpected behaviors and pitfalls a beginner should be aware of?
0:48:32 Down The Rabbit Hole: Capital Gains Taxes; Marginal Taxes
1:04:40 Thank you, 250,000 subscribers, and interesting banter about development
1:09:38 How could/should bitcoin be included in traditional primary and secondary education (K-12)? What disciplines (i.e. math, econ) are most relevant to mass education? [Demosthenes]
1:13:45 How do you recommend interacting with friends/acquaintances who are newer to crypto and who are chasing gains in altcoins while being hesitant to Bitcoin? Thoughts on long term success of Bitcoin vs. altcoins? [Bradley Hanson]
1:22:17 I love the opportunities that crypto offers. However, I see the megacorps gobbling up BTC by the (USD) billion, and I wonder how much this adoption wave is widening the gap between rich and non-rich. Meet the new boss... Thoughts?
1:28:01 What do you think of the services that allow you to earn interest with crypto (BlockFi, Celcius, etc.)? They are reliable? I am worried about the Not my keys, not my coins issue with them. [Masterplank]
1:32:56 Who owns the Lightning Network and should we be worried ? Can you please include an explanation of what this network is and how it relates to bitcoin? Thank you! [Skaffen]
1:39:30 Speed round!
1:39:56 Are FEES are the ONLY mechanism to prioritize transactions/prevent spam or can a system exist that uses another mechanism to prioritize transactions and prevent spam (similar to what several feeless cryptocurrency systems seek to do)
1:40:24 What is a chance that bitcoin will be delegalized in the western world?
1:40:37 Since LN nodes need to be online to guard against channel balance hijacking by the other party, what would be safe availability (e.g. 99.9%, 80%, etc...) of a node? Will it ever be possible to run a LN node fully from a mobile device?
1:41:07 Will you throw a big party if/when Taproot goes online?
1:41:24 Would it be possible to make coinjoins look like a single transaction using the property of signature aggregation of Schnorr signatures?
1:41:54 What would have to happen for you to think Bitcoin is inevitable?
1:42:15 Thoughts on staking ETH for ETH2? Does it make sense to stake for the new ETH2?
1:42:32 Is LTC kind of a testnet for BTC?
1:43:03 How are bitcoin transfer fees calculated? What is input and output?
1:43:55 Why are the media coming down on the Bitcoin - Eco Disaster FUD so hard? Theyve started prioritising it over other FUD such as Fees & Transaction speed
1:45:00 I would like to time lock my hardware wallet for a year. Is that easy for me to do?
1:45:21 How many Bitcoin are in one block?
1:45:50 Why would I pay anyone in bitcoin when I can invest it?
BECOME a Patreon Community Builder: https://patreon.com/aantonop
JOIN this YouTube channel: https://aantonop.io/youtube
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. 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. Learn more at https://aantonop.com")
![Worst Ways to Gift Cryptocurrency [you can keep your bitcoin papaya]](https://i.ytimg.com/vi/vqxDQBgo5vc/mqdefault.jpg "Worst Ways to Gift Cryptocurrency [you can keep your bitcoin papaya]
In the Gifting Cryptocurrency Livestream, Andreas answered the question, What are the worst ways to gift crypto? In this 2 minute video, he explains the 3 worst ways to gift cryptocurrency including bitcoin. Watch the video and be sure youre not doing these things.
Chapters
0:00 What are the worst ways to give a gift of cryptocurrency to other people?
0:11 Dont give to people who dont want it, or really need the money now
0:29 No bitcoin papaya
1:20 Dont give gifts with strings attached
Watch the entire gifting cryptocurrency bonus livestream here: https://youtu.be/SsGBYJcV12k
Ready for some laughs? Watch this video snippet from Andreas no learning crypto comedy special: https://youtu.be/1AnAe6fm2-8
Or watch the entire episode of crypto comedy video: https://youtu.be/hjOTi3Vaiqo
COMMENT below and let us know what you think of the video. Post your follow-up questions about bitcoin, ethereum, lightning network, and cryptocurrency in general there too!
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 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
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!")
