7. Technical Challenges

MIT 15.S12 Blockchain and Money, Fall 2018
Instructor: Prof. Gary Gensler
View the complete course: ocw.mit.edu/15...
KZbin Playlist: • MIT 15.S12 Blockchain ...
This lecture covers technical challenges to blockchain technology, such as scalability, privacy, security, and interoperability.
License: Creative Commons BY-NC-SA
More information at ocw.mit.edu/terms
More courses at ocw.mit.edu

[@ewor99]

The more I watch this guy the more I wish I had good teachers back when I was in school. I got ripped off.

[@Mr4Chainzz]

Right! I've been thinking the same exact thing. Especially when there are schools out there that have people paying as much, or relatively close (Out of state included), to ivy/top school prices and we don't have access to great teachers like Gary. Luckily the internet is opening that slot for people like you and me.

[@annasimmers9549]

It’s what makes top universities truly worth it (along with the network connections and job opportunities)

[@JacobWolfman]

It would be nice to be taught by the head of the SEC.

[@1x1HealthyEnergybyAndrew]

So did I. They barely spoke English

[@Perfectmyself]

that grin when he pulled out the cold calling list was priceless

[@keithfairley7703]

Being taught by a future SEC chairman who knows his stuff. Priceless.

[@berkegursoy9724]

everyone gangsta until Gary pulls out the cold call list

[@3EBstudio]

Ufff

[@nicholashughes7226]

Facts.

[@siddharthnagani]

Prof.Gensler🙏, you are simply stupendous. 🙏 I can't thank enough to MIT.🙏

[@wallacevincent1400]

Gensler derives a sick joy from the cold calling despite his insistence that he's this relaxed Dad+Fonzie vibe.

[@MrMits92]

love the way he interacts with the students

[@zorglub7337]

Quick show of hands, who is feeling guilty for not reading the assigned pages prior to watching this lecture?

[@venkatanarayananvenkataram9860]

Guilty :-) I paused the video to go read it and then resumed it.

[@quantumuniversetvinc.6117]

I just sat for 30 minutes barely listening lol. My attention is so fkd Time to rewind... AGAIN. At least I'm taking notes. Trying to learn but this shyt is exhausting

[@bobsondugnutt7526]

@@quantumuniversetvinc.6117 keep going bro, once the knowledge starts to cement the rest gets easier and easier

[@Lbgroff]

o/

[@stijndeblauwe7607]

yeah, someone should put all reading material in 1 big Zip file

[@sonushetty2435]

MIT should attach the reading materials in the description, so that we don't miss out on what they are talking about.

[@mitocw]

The course materials are available on MIT OpenCourseWare at: ocw.mit.edu/15-S12F18. Best wishes on your studies!

[@alishernaimov1332]

Gold Proffesor!!! one day I will be rich, and will definitely donate considerable amount to MIT not only for free videos but also for intranet access just like you are their full-time students. @@mitocw

[@koorbonov1330]

I would like to say thanks a lot for this! for me, for a person who has never studied at MIT, to watch this here is priceless. It's a pity that I am watching it only today, but still I feel I am not that far. #xrp

[@campusseoul]

It was nice to hear about the difference between Bitcoin and Bitcoin Cash.

[@shubhambravo]

Over these 7 episodes, I've become Gary's fan

[@nandit123]

Great set of videos .. 7 videos through it🙏🖖

[@OfficialUIUX]

Thumbnail is forever priceless just like this course. ;)

[@danlane6473]

Just wanted to say thankyou for these videos. I've learned a great deal and what a fantastic teaching style. The engagement with students is great and what useful and comprehensive questioning from them on the issues. Fantastic!

[@Tyjeh]

I thought he had a durag on in the thumbnail.

[@dadrenpadren2008]

😂 I wish he did

[@lawniczakjohn]

23:13 Having a single point of failure in centralization.

[@sunriseeternity300]

#blockchain #MITblockchain #GaryGensler #Bitcoin #knowledge #enjoyyourday Thank you MIT, great upload.

[@CSWG-d9e]

Thank you MIT & prof. Gary Gensler.

[@XYZ56771]

you know its serious business when army shows up. great content!

[@astrea17x]

44:34 there's a mistake in the subtitles: it is mining pool instead of poll

[@mitocw]

Thanks for the note! The caption has been updated.

[@youcanknowanything8489]

how cool it is that Gary is now the chairman of the S.E.C.

[@BriceScanlon]

I’m worried that Gary may cold call on me

[@julkiewitz]

Lol, Gary should get in the comment section and call on people

[@Infinitenothingness180]

Truly priceless content and i am a fan of Prof Gensler ..

[@chandel_rajputbundelkhand]

If such teacher taught everyone of us ...this world wud have been different...

[@chrismersits3504]

Maybe with the internet and blockchain, such a thing can be possible in the near future.

[@Kobe29261]

We'd have to earn the tutelage of such instructors; as it stands, half the class will not even complete their assignments. The teacher's never missing when the student is ready!

[@quantumuniversetvinc.6117]

Gary Gensler looks like he is wearing an aluminum dome in the thumbnail

[@AztekViking]

With adjustments to screen brightness it can be made to appear closer to chrome

[@TropicalBrick]

Literally thought it was a tin foil hat, thought this lecture was just going to be speculating who Satoshi Nakamura is haha

[@shubhamguptaiitb]

the Ethereum proof of stake is still not deployed, this took quite long and a date is still not confirmed

[@mitchsnow7735]

Eth 2 will die. ADA and XRP will be the winning crypto projects.

[@andso7068]

@@mitchsnow7735 Why?

[@cameronbowes7813]

Supposedly hedera hashgraph solves all three of these first problems mentioned and they already have most large institutions behind them. In governance, energy, tech, and banking.

[@Perfectmyself]

Interesting...

[@henrygumo6955]

Elizabeth warren should really watch these video

[@FacadeMan]

54:25 One of the cofounder of Zcash Madars Virza gives a short talk. Amazing to see the academic steps behind the crypto space.

[@prashant_t]

Did you know that Gensler is now the head of SEC of US?

[@robertmanley]

Great lecture series. I thought the use of hashes, would have been easier for people to grasp, if it was expressed in terms of BitTorrent (P2P) usage. i.e. hash vs downloaded file.

[@bafanamotheogane3225]

Excellent delivery. Gary makes it easy 👌

[@berajpatel8081]

privacy and open source ability to show all transactions has its pros and cons .....

[@RichardBoase]

In Vitalik’s trilemma, his security model is about protecting criminals. It’s the wrong model of ‘security’ PoS networks aren’t competitive or resilient. They’re centralised and don’t scale. They’re also fragile.

[@geoms6263]

shitcoin

[@mass9096]

Many thanks for this excellent educational content. Just a small correction regarding the GDPR (General Data Protection Regulation)/ It is not a Directive but a Regulation ! This is a very important disctintion in EU law. On one hand, a directive only sets up policy goals for the Member State of the EU, leaving them a margin of appreciation regading the best way to achieve these policy goals. Directive thus need to be transposed into the national legal ordes rvia the adoption of national legislation. On the other hand, a Regulation directly impose requirements that every legal or natural person in the EU have to comply with. They Member State thus do not have a margin of appreciation, unless explictely provided in the regulation, and there is no need for any transposition into the national legal order. A regulation is therefore an instrument of full harmonisation within the EU as it will apply in the same way and in the same in every member state.

[@brainstormingsharing1309]

Absolutely well done and definitely keep it up!!! 👍👍👍👍👍👍👍

[@GoatSays]

Do “side chains” break the decentralisation premise of blockchain?

[@keondakuhhh69]

Professor Gary when Madaris is speaking: Speak up 😁😁😁

[@dadswithapurpose3167]

When is @Bitboy going to teach a course at MIT

[@yeet1337]

yeah sure haha

[@Mondegreen2020]

🤣🤣🤣

[@qakbot100]

Sureeeee!

[@DocDanTheGuitarMan]

The cost of capture in centralized organizations is incalculable.

[@AshikaUmanga]

algorand is a sleeping giant. i feel its technically superior

[@shubhambravo]

23-Jan-22 : Gary Gensler is Chairman of US-SEC

[@siddharthnagani]

There is a very high chance that so called Mr. Satoshi Nakamoto/The Team (because this is no one man's job to pull off) is/are either chilling in Bahamas or NSA has already found him/them and being kept and studied by officers. We need Mr.Vance from Manifest to crack this puzzle.

[@aliharis9293]

Well it doesn't matter, because surely Satoshi solved the puzzle, but its out in the open and community decides what to do with it.

[@htaylorja]

He's aka David S

[@cauebraga]

Did solana finally fixed the scalability problem in block chain smart contracts?! 65k TPS

[@tgifllc]

solana crashed and had to be unplugged for 18 hours to prevent a hardfork. very nice blockchain they've developed over there

[@quocphantruong]

Idk but MIT seems to have a problem with audio recording. All of their audio recording are very small and difficult to hear

[@krihanek117]

Is the amount of electricity needed to do bitcoin and other crypto more or less than the current energy cost to mine the equivalent dollar value of gold?

[@AthenaTheWolf]

Probably more because excavating gold might require a lot of energy upfront but once it’s extracted it’s a matter of storage whereas with Bitcoin there’s a constant need of energy to mine and make calculations so there’s a perpetual energy consumption.

[@cyberft]

Mining also secures the network. You have to factor in the cost of securing mined gold when comparing it with bitcoin.

[@mirko1989]

​@@AthenaTheWolf plus other energy costs of thousands of buildings with 100s of thousands of people that support all the services around current financial system or even just the system around gold (trading, analytics, administration, accounting, legal dep. ,regulation/laws, enforcement... )

[@dadanifit]

You should also factor in the energy splurged on manufacturing ASIC and previously GPU hardware just to mine BTC. Also make some scaling if you want to have a fair comparison, I mean market cap of BTC is still low in comparison with gold's even lower in comparison with fiat's, so how much would power consumption scale if Bitcoin were to gain much more adoption and market cap?

[@stephenbeh2160]

i listen to at 2x speed.... more efficient lol

[@ucantcme2299]

Thx very much same here

[@ucantcme2299]

@Vaibhav shah jai hanuman

[@milosmastilovic9640]

Gott schütze die Datenschutzgrundverordnung

[@milosmastilovic9640]

Look you are overcomplicating it a lot

[@milosmastilovic9640]

I might understand a year ago its comfortable. But please think also of us with less time. Kind of handout would be good. I can not take the minutes also here

[@jamesjordanjr6175]

I was trying to read his forehead

[@RiccardoVincelli]

51:05 Stuart Haber special mentions counter: 51

[@rschmidtzalles]

@1:07:37 Polkadot is the solution

[@HB-il8gm]

Why QRDO is important - 1:02:40

[@3EBstudio]

Right guy to regulate

[@markmaximus100]

Where is lesson #18?

[@kingjohnkk]

6:39 his name is Akira? 0 _ o

[@ryanyan9633]

I guess it was Thursday.

[@Perfectmyself]

Couldn't of MIT done a better job on audio?

[@leonardschofield9913]

Funding...

[@Mondegreen2020]

They really should do a much better job of recording this amazing free content for us beneficiaries.

[@vinanciomiranda7855]

Is it Just me or the Thumbnail looked like Gary wearing a Cap? 😂

[@ucantcme2299]

Bcoz of the light

[@vinanciomiranda7855]

@@ucantcme2299 Yes Had to look that twice to figure it out

[@Ali-pl9tr]

He should definitely 😅

[@RenatoMelloSF]

Is he wearing a durag??????

[@ruigomes8652]

Polkadot = Layer 0

[@thertlifestyle8397]

Why havent they talked about DOGE YET!!!!

[@leonardschofield9913]

:(

[@Timetraveler532]

You had to be he top student in the world and pay 50k a year for something you could google for free .

[@kaatnikaatni9012]

But u don't get certificate to say u attended MIT. You will still be standing outside the gates of big corporations..

[@EduardsESA]

@@kaatnikaatni9012 blockchain and big corporations? really? satoshi is rolling in coffin.

[@kaatnikaatni9012]

@@EduardsESA name is MIT. MIT

[@thejamesinator17]

@53:00 "Russians using bitcoins to mess in our elections" - really? Has this aged well?

[@noahwhipkey6262]

ironic isnt it?

[@elliot1784]

where is the recap gal/guy? :)

[@stickykitty]

Judging by the thumbnail I was correct!!! Gary Gensler is a super computer Stuck inside a humanoid synthetic body! Hurry up and confirm xrp as a currency Already!!! Sheesh god damn super computer!!

[@dawei6813]

What are you on about?

[@miguelmejia1952]

No that will not be allowed

[@miketyson3176]

Oh snap

[@GioG-nv9fw]

Good info

[@Perfectmyself]

Taco TUesdayyy

[@sportspro5038]

i am from austria

[@NoName-cv1dk]

comment for algorithm

[@Hazebusterz]

He should start investigating Shitadel, the biggest growing cancer of Wallstreet, instead of giving lectures...

[@ericpham8205]

Nothing is free please.not even loving your husband or wife is free or loving country or living as a monk is free . The cost of thing keep people responsible in using resources and conserve for children

[@Kobe29261]

? How does the market price 'loving your husband'? What values does it/can it compete against? And that last statement? Did you mean Economics 101? Limited resources for unlimited desires?

[@psithurism241]

MIT/X11? TX0008708058 tho lel

[@roccococolombo2044]

Introverts should not be penalized for staying quiet