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Decoding Bitcoin | Varun Gaur | TEDxNPSISSingapore


[Applause]

[Applause] [Music]

[Music]

[Music] hi guys thank you for coming

hi guys thank you for coming

hi guys thank you for coming it’s really great to be here so before

it’s really great to be here so before

it’s really great to be here so before it begins as a show of hands how many of

it begins as a show of hands how many of

it begins as a show of hands how many of you guys have heard the words Bitcoin or

you guys have heard the words Bitcoin or

you guys have heard the words Bitcoin or blocking okay 90% of the audience of it

blocking okay 90% of the audience of it

blocking okay 90% of the audience of it how many of you guys know what bitcoin

how many of you guys know what bitcoin

how many of you guys know what bitcoin of the block it is okay that’s about 10%

of the block it is okay that’s about 10%

of the block it is okay that’s about 10% how many you guys currently own Bitcoin

so when I was a young boy I was very

so when I was a young boy I was very interested with the concept of money the

interested with the concept of money the

interested with the concept of money the idea this is one thing that people that

idea this is one thing that people that

idea this is one thing that people that poor people live for people wait for is

poor people live for people wait for is

poor people live for people wait for is for people make their life and so lack

for people make their life and so lack

for people make their life and so lack news

news

news so one day I’m playing we see already

so one day I’m playing we see already

so one day I’m playing we see already that so I give my paypal email

that so I give my paypal email

that so I give my paypal email Blaze’s for anything on the phone that

Blaze’s for anything on the phone that

Blaze’s for anything on the phone that was a kid

I think what do you he says Bitcoin I’ll

I think what do you he says Bitcoin I’ll keep it going through you Mike that’s it

keep it going through you Mike that’s it

keep it going through you Mike that’s it okay that is how the world with the most

okay that is how the world with the most

okay that is how the world with the most beautiful technology to come about since

beautiful technology to come about since

beautiful technology to come about since these in case you guys are wondering

which means this happen diversity and

which means this happen diversity and there could be unlimited lead generating

massive gold stored it to the papers

massive gold stored it to the papers this is money now I’ve heard people were

this is money now I’ve heard people were

this is money now I’ve heard people were wearing my shirt should we use this as

wearing my shirt should we use this as

wearing my shirt should we use this as the money eventually it became cell

the money eventually it became cell

the money eventually it became cell phone finally the next

phone finally the next

phone finally the next and in the plastic we now start using

and in the plastic we now start using

and in the plastic we now start using credit cards and debit cards lastly were

credit cards and debit cards lastly were

credit cards and debit cards lastly were on the verge of the biggest shift to

on the verge of the biggest shift to

on the verge of the biggest shift to digital currency this is where Bitcoin

digital currency this is where Bitcoin

digital currency this is where Bitcoin content so let me introduce you to

content so let me introduce you to

content so let me introduce you to Bitcoin in 2009 publishes a white paper

Bitcoin in 2009 publishes a white paper

Bitcoin in 2009 publishes a white paper under secure form completely

under secure form completely

under secure form completely decentralized completely trust lists

decentralized completely trust lists

decentralized completely trust lists each coin is mathematically scarce

each coin is mathematically scarce

each coin is mathematically scarce bitcoin is the only scary car today

bitcoin is the only scary car today

bitcoin is the only scary car today there is when you have cash inflation

there is when you have cash inflation

there is when you have cash inflation but if you ask the venezuelan a

but if you ask the venezuelan a

but if you ask the venezuelan a brazilian an Argentinian their money is

brazilian an Argentinian their money is

brazilian an Argentinian their money is constantly explaining and losing

constantly explaining and losing

constantly explaining and losing purchasing power

purchasing power

purchasing power what about gold you say gold must be

what about gold you say gold must be

what about gold you say gold must be scarce right there company 20 million

people developing ways to travel you can

people developing ways to travel you can turn other elements

turn other elements

turn other elements the author of Bitcoin locked in at 21

the author of Bitcoin locked in at 21

the author of Bitcoin locked in at 21 million there can only ever be 21

million there can only ever be 21

million there can only ever be 21 million bitcoins ever created this into

million bitcoins ever created this into

million bitcoins ever created this into the price called the deflationary curve

the price called the deflationary curve

the price called the deflationary curve now what is so special about

now what is so special about

now what is so special about decentralization why should I care to

decentralization why should I care to

decentralization why should I care to understand how the blockchain works

understand how the blockchain works

understand how the blockchain works so now I’m going to explain how the

so now I’m going to explain how the

so now I’m going to explain how the blockchain works in very simple terms

blockchain works in very simple terms

blockchain works in very simple terms let’s imagine a world where every is not

let’s imagine a world where every is not

let’s imagine a world where every is not physical money is soaking so I buy

physical money is soaking so I buy

physical money is soaking so I buy cookies in the canteen I go to the LPNs

cookies in the canteen I go to the LPNs

cookies in the canteen I go to the LPNs say I’m how many with you $1 and she

say I’m how many with you $1 and she

say I’m how many with you $1 and she gives me for me it seems easy right but

gives me for me it seems easy right but

gives me for me it seems easy right but where does the problem committee the

where does the problem committee the

where does the problem committee the problem is known in computer science has

problem is known in computer science has

problem is known in computer science has doubled spending spending money keeping

doubled spending spending money keeping

doubled spending spending money keeping our power I can easily go to the RPM say

our power I can easily go to the RPM say

our power I can easily go to the RPM say I’m now giving you 1 million dollars

I’m now giving you 1 million dollars

I’m now giving you 1 million dollars it would be great but in practical sense

it would be great but in practical sense

it would be great but in practical sense so we need someone where does the

so we need someone where does the

so we need someone where does the problem here the problem of

problem here the problem of

problem here the problem of centralization the trust you invested at

centralization the trust you invested at

centralization the trust you invested at one person means that this one tricks

one person means that this one tricks

one person means that this one tricks has the power to edit the history of

has the power to edit the history of

has the power to edit the history of money

money

money this person can give himself believe the

this person can give himself believe the

this person can give himself believe the daughter this person can take away

daughter this person can take away

daughter this person can take away billions of dollars this person is gonna

billions of dollars this person is gonna

billions of dollars this person is gonna rewrite the history of what if there was

rewrite the history of what if there was

rewrite the history of what if there was not one Christian what if there were

not one Christian what if there were

not one Christian what if there were 10,000 people right and everything

10,000 people right and everything

10,000 people right and everything what is it when I told the enemy I am

what is it when I told the enemy I am

what is it when I told the enemy I am now giving you one dollar ten thousand

now giving you one dollar ten thousand

now giving you one dollar ten thousand people look at this and they write it

people look at this and they write it

people look at this and they write it down in your book and this is a

validated exception each other to make

validated exception each other to make sure that everything checks out so this

sure that everything checks out so this

sure that everything checks out so this is why it can be used not only for money

is why it can be used not only for money

is why it can be used not only for money it can be used for storing they cannot

it can be used for storing they cannot

it can be used for storing they cannot be lost it can be used for small

be lost it can be used for small

be lost it can be used for small contracts it can be used for fair

contracts it can be used for fair

contracts it can be used for fair elections and there are there other to

elections and there are there other to

elections and there are there other to talk about so now I’m going to why

talk about so now I’m going to why

talk about so now I’m going to why should you care of a point don’t you

should you care of a point don’t you

should you care of a point don’t you already

Thanks the thing is people and I simply

Thanks the thing is people and I simply glorified Ledger’s when you deposit

glorified Ledger’s when you deposit

glorified Ledger’s when you deposit money with go back the other number into

money with go back the other number into

money with go back the other number into your account this is not your onion it

your account this is not your onion it

your account this is not your onion it belongs to the back this means in the

belongs to the back this means in the

belongs to the back this means in the bathroom toilet whenever they like let’s

bathroom toilet whenever they like let’s

bathroom toilet whenever they like let’s say hypothetically I $100 to my cousin

say hypothetically I $100 to my cousin

say hypothetically I $100 to my cousin in India so I’m going to go to the back

in India so I’m going to go to the back

in India so I’m going to go to the back someday

they say sorry we’re closed

they say sorry we’re closed can you come back a different day so

can you come back a different day so

can you come back a different day so office to light

sorry we’re only open from nine to five

sorry we’re only open from nine to five and you come back in a different time so

and you come back in a different time so

and you come back in a different time so I go at 4:30 p.m. and your passport in

I go at 4:30 p.m. and your passport in

I go at 4:30 p.m. and your passport in your ID token count so I got that part

your ID token count so I got that part

your ID token count so I got that part so I’m happy

so I’m happy

so I’m happy and then they say wait you’re 15 years

and then they say wait you’re 15 years

and then they say wait you’re 15 years old you need your mom to be with you

old you need your mom to be with you

old you need your mom to be with you so I call my mom with me and then they

so I call my mom with me and then they

so I call my mom with me and then they say okay great

say okay great

say okay great and I say our deposit $2,000 they say

and I say our deposit $2,000 they say

and I say our deposit $2,000 they say sorry first week your limit is $500 so I

sorry first week your limit is $500 so I

sorry first week your limit is $500 so I put it in

and now he needs to like a bank account

and now he needs to like a bank account and it is blue too long-winded process

and it is blue too long-winded process

and it is blue too long-winded process which takes an insane amount of time the

which takes an insane amount of time the

which takes an insane amount of time the three of pregnant

when you have so much trust and so much

when you have so much trust and so much power into one single entity they abuse

power into one single entity they abuse

power into one single entity they abuse it the constrictions it with barrier

it the constrictions it with barrier

it the constrictions it with barrier entry about you like a human the one for

entry about you like a human the one for

entry about you like a human the one for another dog

another dog

another dog whoever’s at the top has all the power

whoever’s at the top has all the power

whoever’s at the top has all the power bitcoin is a flat plane whether you are

bitcoin is a flat plane whether you are

bitcoin is a flat plane whether you are the president of the USA or your

the president of the USA or your

the president of the USA or your students make coin 3 see you at the

students make coin 3 see you at the

students make coin 3 see you at the people you can build apps you can

people you can build apps you can

people you can build apps you can transfer millions of dollars across the

transfer millions of dollars across the

transfer millions of dollars across the country for five cents Bitcoin doesn’t

country for five cents Bitcoin doesn’t

country for five cents Bitcoin doesn’t care who you are what happens it point

care who you are what happens it point

care who you are what happens it point in quite well with Bitcoin money from an

in quite well with Bitcoin money from an

in quite well with Bitcoin money from an ATM without limits I can play with

ATM without limits I can play with

ATM without limits I can play with selves on the subject exactly invest in

selves on the subject exactly invest in

selves on the subject exactly invest in Facebook and Apple using Bitcoin without

Facebook and Apple using Bitcoin without

Facebook and Apple using Bitcoin without any limits but no

bitcoin gives me financial freedom $100

bitcoin gives me financial freedom $100 I put in a couple of years ago doesn’t

I put in a couple of years ago doesn’t

I put in a couple of years ago doesn’t have enough of course that was no jaqen

have enough of course that was no jaqen

have enough of course that was no jaqen probably about half the width which I

probably about half the width which I

probably about half the width which I didn’t if you use Bitcoin allows you

didn’t if you use Bitcoin allows you

didn’t if you use Bitcoin allows you money in a way that you’ve never seen

money in a way that you’ve never seen

money in a way that you’ve never seen before

before

before you actually get to control your 20 so

you actually get to control your 20 so

you actually get to control your 20 so for anyone who is interested

for anyone who is interested

for anyone who is interested I’m gonna demonstrate the transaction

I’m gonna demonstrate the transaction

I’m gonna demonstrate the transaction for you please come to me I’ll be happy

for you please come to me I’ll be happy

for you please come to me I’ll be happy to send you into this into a tree form

to send you into this into a tree form

to send you into this into a tree form it goes now $20,000 so I thank you for

it goes now $20,000 so I thank you for

it goes now $20,000 so I thank you for listening

”

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