Cryptocurrency Explained: Money as a System-of-Control

We know that money serves as:
- A Store of Value (SoV)
- A Medium of Exchange (MoE) and
- A Unit of Account (UoA)
But what happens when a fourth use of money is introduced, one which subordinates all the other characteristics: money as a system of control.
This talk is featured in The Internet of Money volume 3, which can be purchased in multiple languages in paperback, ebook, or audiobook: aantonop.io/tiomv3ebooks/
Chapters
0:00 4 properties of money
0:51 History of money
3:16 Money as a system-of-control supercedes all other functions of money
3:52 Money does not flow freely
9:16 A system of money that refuses to become a system-of-control
9:52 Banks as a system-of-control
12:31 Banks vs cryptocurrencies
13:21 Voice or exit
This talk took place at the Advanced Digital Innovation Summit on September 12th 2017 in Vancouver, Canada: antonopoulos.com/event/adisum...
QUESTION & ANSWER:
Biggest threat to cryptocurrencies -
• Bitcoin Q&A: Biggest T...
ICOs, disruption, and self-regulation - • Ethereum Q&A: ICOs, Di...
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The Digital Currency Commons - • The Digital Currency C...
Open Blockchains for Cashless Developed Economies - • Open Blockchains for C...
Hardware, Software, Trustware - • Hardware, Software, Tr...
Fake News, Fake Money - • Fake News, Fake Money ...
Blockchain vs. Bullshit: Thoughts on the Future of Money - • Blockchain vs. Bullshi...
Separation of money and state - • Bitcoin Q&A: Separatio...
Could governments take over exchanges? - • Bitcoin Q&A: Could Gov...
Is Bitcoin a democracy? - • Bitcoin Q&A: Is Bitcoi...
Unstoppable code - • Bitcoin Q&A: Unstoppab...
Irreversibility and consumer protection - • Bitcoin Q&A: Irreversi...
Scaling, trust, and trade-offs - • Bitcoin Q&A: Scaling, ...
The Switzerland of currencies - • Bitcoin Q&A: The Switz...
How is fungibility tied to privacy? - • Bitcoin Q&A: How is Fu...
Fungibility, privacy, anonymity - • Bitcoin Q&A: Fungibili...
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#Cryptocurrency #CryptocurrencyEducation #Bitcoin

[@ThepoweroftheBitcoinnetwork]

How has this not been viewed millions of times? Andreas, you are one of a kind when it comes to telling it how it is.

[@be_yourbest_you3632]

Simply the best educator in bitcoin, cyptocurrency and blockchain! Much gratitude Andreas!

[@badhabitz69]

Agreed!!!

[@KidsAreLife]

Yes he is, and precisely because he will never proclaim he knows everything there is to know about the contrary he knows we have a l

[@alan_ruby86]

yes

[@kvanw4241]

I share the anger... I share the euforia... I am 59 years old and i experienced all Andeas said about banks and the "system". At last there is a option 2 now. At last there is a plan B. Exit! I am finished using my voice. I tried voting for the right politicians long enough. I am not willing anymore to consider option one, using my voice. I am so angry about the unwillingness of my government (Holland), and all other governments to do right, that the results for me is that plan B is the absolute only thing i want... EXIT! Thank you Andreas for catching my feeling into words.

[@onecarwood]

When reading this I thought you were an American. It goes to show how widespread the assault is. When Greece was getting the shaft all I could think about was that it was the test case to see what the people would do.

[@francisf00]

We're all slaves, we just don't want to believe it because we're the ones perpetuating it by going along with the systems. If 1/3 of the people in each country just stopped, it would destroy every system that controls us within 1 quarter, permanently.

[@scottiescott9297]

A. Antonopoulos. The brilliant, renown, ultra-cool, ultra-badass computer engineer, nerd-genius, humanistic, visionary, author, speaker. Outstanding lecture, as usual!! One of his best.

[@TheModernInvestor]

This man deserves an award

[@sagarrai4693]

You are Right

[@DanyCervantes]

One of my heroes. You too TMI. Both of you are very dedicated at educating the public.

[@alan_ruby86]

amen

[@dave0126]

🏅

[@bygdatv8118]

Anton is a hero of our times. He is just os passionate about Bitcoin and blockchain technology. I get filled with energy every time I listen to him.

[@emilywilliams6403]

saaame

[@bamiles84]

This was a red pill minigun talk. Hot damn.

[@alan_ruby86]

haha yes

[@jeffreybutts1916]

One of your best talks!

[@Geoffsheen1126]

One of his best indeed!

[@pratikmishra6610]

Double now your deposit with the best bitcoin doubler. paste on google 'bitcoin fast'

[@yorgohoebeke]

I loved it. What other talks of him would you recommend ? Which ones are among the best ?

[@InisMor]

cant find words for how good this is

[@alan_ruby86]

seriously

[@ivana4029]

Woah, andreas. I got goosebumps. Amazing vid quality

[@MichaelFidelis]

powerful speech Andrea, bravo!

[@alan_ruby86]

bravo indeed

[@6dawie9]

inspiring talk. a fundamental systemic change has started. great to be a part of the revolution

[@thekomiko1]

Andreas rocks.

[@wimakoster]

Wow Andreas...you were on fire! Excellent analysis, clearly explained and I do agree with most that was said. Except for the "Millennials" part, I am 62 and already started leaving parts of our society some years ago, including using digital currencies as the new store of value. A society I helped create and I am not proud of where we stand at the moment. My children are Millennials and I am trying to convince them to join the new path, that is the least I can do at the moment! Thanks for pointing out that path and helping us to stay on the right track.

[@rag98709]

Yes. Some of us old dudes, having been around the block a couple times, easily get it.

[@CuTigerBigSho]

Andreas spitting hot fire, as usual. Best vid yet!! And yes, as a Millenial, I am already Bitexiting, getting the F out.

[@adamsarwar]

EVERYONE needs to listen to this!

[@MUGENKINGU]

Dylon spit hot fire. You're too close man!

[@genechorney]

The revolutionary spirit just continues to grow and grow. You are touching some deep, unconscious nerves and waking them. Very powerful.

[@DominiqueDumas]

Wow.. incredibly true, I like it so much, many thanks aantonop !

[@AntranikDotOrg]

🔥🔥🔥🔥🔥 That was 17 minutes of straight fire 🔥🔥🔥🔥🔥

[@fraserelliotcarter]

How does this only have 89,000 views....I feel like 7 billion people need to have watched this!

[@tmst2199]

Andre, you've amazed me again with your insight into systems and ability to make the light bulbs turn on in your speeches.

[@HawellsLair]

They are all hits in my book. This one goes in your greatest hits collection though. I honestly had a few tears of joy/relief from this speech.

[@toolegittoquit_001]

Damn, this is one scary talk ....

[@kurthoman242]

I have had money stolen from my bank account twice by my bank and I could do nothing. When I bought my first Bitcoin I had a powerful sense of relief and security I haven't had for years knowing no bank would ever steal money from me again !!!

[@nauxsi]

But you could forget password

[@Fritson]

Brilliant and very convincing reasons to Buy and hold Crypto currencies, such as Bitcoin and Ethereum. Bravo Andreas ☺

[@darrenpurtill9488]

I could listen to you all day every day Andreas. Powerful wisdom

[@carltoncrypto9722]

This is the greatest speech about the world financial system ever! Wow im so inspired thank you kindly Andreas

[@k9slayer]

where going to have to get Andreas a bigger stage.

[@TheSafetyman1000]

No.......Nice and easy does it remember the fable, we do not need him SNUFFED OUT

[@alan_ruby86]

most definitely

[@mixsetup]

Such a great video. The 4 main banks here in Australia are freezing peoples bank accounts if they do business with a crypto exchange, they are trying to make it virtually impossible to take your money away from them and invest it in the crypto currencies. Governments taxing all your crypto. They are fighting hard to still be in control here in Australia.

Just made me cry out loud - Viva la revolución! Thank you, Andreas, for everything!

[@maxon9185]

inspiring!

[@juliep.3050]

The last minute of that speech gave me chills. Amen and God Bless you Andreas!!

[@edwardkunz9474]

I am working for a bank and I don't believe fiat money is sustainable longterm either. I'll be prepared. Thank you Mr. Nakamoto, Mr. Larimer & Mr. Buterin for your contribution to humanity.

[@quickbitbitcoinexchangeatm4726]

The bank cancelled my accounts today.... I saw this video months ago.... and it hit me again today at how true this is.

[@kenfarley957]

I loved it when you schooled the lawyers. Great info. Thank you.

[@yianniskteniadakis223]

How lucky those who witnessed this great speech !!!

[@carlitaticconi6655]

I still don't fully understand bitcoin but thanks to these talks I am falling in love with it more and more with each video. Thank you.

[@AndrejCibik]

I already opted out with 50% :) Feels great man

[@gerlesion]

Excellent speech. Only 17 minutes but I I learnt so much from this. Thank you

[@terravagustravels]

One of the best speeches I have ever seen...

[@schweppesyt]

"I EXIT!" Non-violent non-participation (heart)

[@c.c.germaine9960]

I was here for this... great opening to a great two day summit.

[@Killzy786]

So much gratitude.

[@martinbak]

You simply are the most inspiring and well talking being on this planet! Thank you so much Andreas M. A.

[@genecat]

Blockchain technology doesn't need militant adoption, it needs a risk component that outperforms central banks for stimulating economic growth. IMO its not the decentralized unit of exchange or storehouse of wealth that makes bitcoin or ethereum revolutionary, it's decentralization of wealth creation itself by issuing ICOs that will truly be disruptive. ICOs can replace (or augment) the as-needed (fiat) functionality provided by central banks. This is the mechanism that will provide the missing liquidity inherent in finite, individual coins. With an ICO every purchaser acts like a little bank assuming the risk that the individual coin will either live or die by the value it generates. Cryptos are born into a world that is already flooded with currency but they'll take root where need isn't met and judged by overall net economic growth. Blockchain technology and the ICO are a natural combo complimenting each other's risk/trust profile, and this synergy is what may truly give central banks a run for their money.

[@andrewadams2793]

For so long I have tried to tell people the changes that were enacted by Richard Nixon ! People are unaware that in the 1920's-50's the tax rates for the top 1% elite was nearly 90%+ and yet they were still capable of living in luxury. Minimum wage if recalculated to account for Inflation should be more than $20 an hour. Since the fifties we have changed from a society where a single parent could work and still provide their family with a home, car, food, clothing, a mother ( not sexist or meant to be just comparing to the times) could stay home and raise children with no focus other than to maintain a healthy home. Nixon's head advisor was the CEO of meryll lynche and during that regime the American (global) way of life was changed forever out of greed and oppression.

[@oliverlkke3421]

Wow, Andreas mentioning associating with the wrong group of people will have you banned. Maybe not i Canada, well turned out that is what happened to Canadian truckers. This guy has incredibly insights and will forever be the OG bitcoiner who onboarded huge amounts of people. Thank you Andreas for everything you have done so far

[@iluvataruaurora]

Most elating video big big thanks to you Andreas you becoming the Hero for majority of normal people out there in the whole world.

[@ieropo]

Love it! Thanks Andreas

[@JeroenHeubi]

Inarguably the best criticism on our current economic system, where money is a coordinating mechanism used to control relationships between people, and flows of information.

[@bogdannegrau496]

powerful more today than then, especially the remark “not in Canada”

[@stevem292]

superb - the separation of money and the state, the reclamation of power over value

[@kleinbottled79]

Excellent comment - might I however humbly suggest that it is primarily a decentralization of the power over value. But it IS being torn from the hands of tyrants so I agree with the sentiment whole heartedly.

[@DukeFan99]

Andreas is the best teacher and I learned so much.

[@marxerm]

wow, thanks Andreas, you've blown my mind again!

[@yogasounds1]

Wow this was a rejuvenating talk. I literally felt brain cell creating new pathways in my brain.

[@climbers1376]

Your content is incredible. I'm proud to be supporting your partition account.

[@peterveinot2190]

Hands down one of the best videos anybody needing to " WAKE UP " desperately needs to see

[@mickyhovis]

Excellent thank you Andreas.

[@aethermass]

This is by far the best talk I have ever heard on Bitcoin.

[@alyssaalmanza8245]

Omg what a powerful speech! Every single word was so brilliant! ❤

[@Vention1MGTOW]

I revoke Roger Veer's title of Bitcoin Jesus and Nominate Andreas.

[@chujwdupegooglowi2131]

Ver is now moved to title of Bitcoin JUDAS.

[@spiritusinfinitus]

Roger Ver became Judas when he sold out for 30 coins of bcash (If it wasn't that it would've been bitcoin unlimited or bitcoin XT) Right from the very beginning he was over-exaggerating with his off the cuff spiel which now looks super cringeworthy if you look back at the multiple examples of it on video now. And what about his "I'm sure that all the current withdrawal problems at Mt.Gox are being caused by the traditional banking system, not because of a lack of liquidity at Mt.Gox." video? Overall I think he's done more damage than good to Bitcoin.

[@HawellsLair]

He has always been the bitcoin's best leader, since he has always kept his politics out of bitcoin. That and he is great at staying focused on just one concept per lecture.

[@iluvataruaurora]

Andreas is real Satoshi Nakamoto no doubt about it

[@thebitpoint1518]

A C agree he is a great ambassador and personally I've learned so much from him. but like everyone else he has a political view

[@InvestBetter.]

In effect, money has 5 economic properties. Four have always been there; the fifth is new: Unit of account, portability (ability to transfer easily), store of value, medium of exchange And now, the ability to control its user, with the introduction of CBDCs Even though current money can definitely have controls, 9 out of 10 transactions do not.

[@powerof9915]

Voice or Exit! So true the only two choices we have on any matter in life.

[@heathergrahame9647]

No, no. There is a third option. And that is to create something new, something different in the same space that the old crappy system exists. And that is what these geniuses have done.

[@tyvin8]

Excellent talk Andreas: you are an expressive speaker with knowledge and passion. What I'm reading is that many banks are making blockchain software and rebranding it as something else. MAS in Singapore is one example. Isn't there a chance that the government will step in and regulate them and then a short jump to us? Can Bitcoin survive this as opposed to the other multiple cryptocurrencies that are popping up everywhere with extra added functions on their blockchains and or bank affiliations?

[@Thinklair]

Love the way he said, "Maybe it's not happening in Canada" - that dates the video.

[@bbjnimens]

Very well said Sir... There's a new edge to your tone in this talk. Please keep up the great discussion ...... I'm in the Exit process myself.

[@jayaz9113]

Thank you Andreas!!! This is such a wake up call!!!

[@yusufumar4065]

I salute Andreas for the wonderful job he has been doing to the crypto world. Proud of you Man!!!!!!!

[@pannlann148]

Wow.. this is always the truth. I'm so glad I found Andreas's video in 2022. I've never been more truthful than now..

[@MarcoBruhin]

Clear and strait in the face. Well done!

[@galent6073]

in december 2017 this vidjayo has 3k likes and 23 dislikes = ratio of 130.4 smart people for each idiot. good work team! and thanks AAntonop- very thankful to have your insights and explanations to refer others to.

[@efsaturn]

Thank you! Thank you ! Thank you!

[@emilywilliams6403]

Please write a book about this topic & what you were talking about in your video: "Worse than Useless: Financial Surveillance"

[@osdias]

Andreas remix of "I AM MAD AND I WON'T TAKE IT ANYMORE." Heck yeah!

[@kryptoshi4706]

Aantonop is unarguably the best cryto currency philosopher.

[@BenBroenen]

The ending gave me chills... in a good way.

[@kasimir090]

Wow! One of your best videos so far. I really appreciate your efforts. Many thanks

[@BTCeProtocol]

This guy is pure genius.

[@LewMinatti]

"Maybe that's not happening in Canada." Truckers be like, hold my beer, lol.

[@clv9056]

Fantastic message and increasing relevance by the minute.

[@eduardocalsina4031]

Long live Andreas. Brillant human.

[@ConorChepenik]

My mans went on to predict what would happen in Canada hell of a presentation

[@ShaunsCollectibles]

Great speech, Andreas!

[@how-tou8444]

unbelievably true and eye opening ... Best EVER

[@hashparty4658]

Eloquent delivery! Thank you!

[@TomKustra416]

#BitExit for sure! Keep doing the good work sir, appreciate you!

[@bewareofthecow]

crypxit

[@alan_ruby86]

Powerful and serious talk that has continued to stand the test of time

[@mithumor4595]

Congrats! You are getting better with time like good wine! So well put to the point.

[@simonlindsey4042]

VREXIT :)

[@jasrid04]

An instant classic. Thank you Andreas.

[@karenhawkins7988]

Loved it! Very thought provoking! Everyone should hear this.

[@toolegittoquit_001]

I love these vids but could we see them sooner ? This one is recent but I have seen 'new' ones uploaded from talks presented 18 - 24 months earlier. But I do love them 😗

[@JonathanCr0ss]

If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron: www.patreon.com/aantonop

[@bitcoinpower8107]

wow, no words left, this has got to be best on why bitcoin is needed, thanks for posting this:-)

[@dddr7823]

the best educator! thanks andreas!!

[@DmSujaEntrepren]

This is a good way to start off my morning. :)

[@brokeoncrypto8420]

Best Bitcoin talk I have ever heard, well done Andreas.

[@cryptocarlitos]

"maybe it's not happening in Canada" - circa 2017.... Ummm Anton, it's happening NOW in Canada. You called it brutha.

[@michaelcoonce6412]

Whew. You're dialed in here. Fantastic talk.

[@CryptoCats]

Andreas the great one! Thanks for the video man

[@doonit]

Brilliantly excellently put. Sir, you truly are a master!

[@techct4372]

After watching all your videos, I am now 100% confident that you are no one else but Satoshi..!!