12. Assessing Use Cases

[@parthicle]

He's so good at dissecting students' questions and addressing the core ask. I really like this guy.

[@amidworkin]

Always brilliant and now the chairman of the SEC. His opinions matter.

[@marlonhopeton574]

I prefer his brother

[@roilhead]

But can't give a straight answer to crypto companies and exchanges about what the rules are despite being asked repeatly. Yeah great teacher... then starts at the SEC and he's not a great teacher???

[@farsyds]

@@roilhead I'm sure you could have done a better job.

[@roilhead]

@@farsyds Guess you haven't heard that your mentor was funded by Epstein and when the scandle came out further funds from Epstein were then presented as 'donations'. The lectures that GG made were funded by Epstein and his pedo money... How about them apples. Who's the teacher now.....!!!

[@andrewl7576]

Gary Gensler, you are a great prof.and an incredibly amicable person. Great lectures. Congrats on your appointment to the Biden administration.

[@NazriB]

Lies again? Serie A Leader

[@vickycruz7380]

Vicky Angelique Cruz 💵

[@priyakhare9597]

great session , Happy birthday to Gary , love his teaching style , all the previous class teachings he has consolidated so well in this session .

[@ryoh4607]

this guy was ahead of his time. in 2018 hes talking about trends that are just manifesting right now: composability, scalability, zero knowledge proofs, etc....so much alpha here

[@brendanriordan3841]

Happy birthday Gary!

[@prula]

In the future there will be payments between machines. For Example, a self driving car, will refuel automatically at a fueling station. To create a safe and trusted record of what happend, a blockchain ledger of actions would be useful, for example "car xyz arrived at 2:30. car xyz bought 10kwh, car xyz left station at 2:45" so if anything goes wrong, there would be immutable proof, who or what would be involved in the problem.?! Just an idea!

[@RegularAlien100]

A transaction ledger indeed!

[@pogchamp9446]

Damn. Mind blown

[@TheTacoReview]

That has already happened and it failed because of competition among fuel retailers and systems. There’s not a compelling case to automate that transaction

[@gregorysanchez6903]

Don't give away business secrets

[@buildlackey]

​@gregorysanchez6903 Why not? if one gets satisfaction or joy out of sharing ideas Why deny such person that satisfaction? Not Everyone has the. Same Values..

[@trent797]

I definitely liked the "Letter to Jamie Dimon" pdf. If I had to explain crypto to someone who didn't understand it, I would send them that PDF.

[@kingdomovies]

at 32:20 Gary looks so happy listening to the question and he asks for clarification at 32:24 and the student ignores him and keeps going and Gary's confused ass face afterwards at 32:28 cracked me up so hard

[@tmnleggy8665]

Im surprised nobody brought up autonomy and how blockchain will be the stepping stone to create a autonomous world. We live in a world filled with algorithms that were addicted to. Now we have an algorithm for money. I don't think people understand how valuable this is. Nature is an algorithm.

[@roilhead]

Gary wants to stop Crypto, not promote it's use case.

[@nhaake]

@@roilhead i don't think that is the case. This guy is way way to educated and interested in blockchain . I don't think it was an accident he got the sec job. I think he is going after xrp because they are the wrong side of this battle. Almost like two sides of elites fighting for control. Seems xrp is on the other side. Which side is better for us ? Probably neither but ...or this is a way to delay xrp until it's the right time

[@kegomania]

This conversation is so important to the future that I feel Gary and these students must reconvene to do this lecture again.

[@xxxxxjjjjj62]

Subprime debt amounted to 2.3T before the financial crisis when the us stock market has a value of 29T, now with a 50T equity market we just need crypocoin market value to reach 4T to create a financial crisis to the magnitude of 2008. every several years the Wall Street will come up something that bring havoc to the world, you can argue bitcoin is not created by Wall Street, but securitization of bitcoin greatly facilitate it. Mr. Gensler now that you are the Chair of SEC, it is time for you to do something for this country, saving the Great America from another financial crisis.

[@sachinagrawal5803]

Kudos Gary, for delivering such a great course and happy birthday. And thank you MIT OCW for making this course available. Takes me back to my own LBS Sloan days!

[@apkidlafirm522]

Great lectures thumbs up for Prof. Gensler :) wish amazing gift of explanation on both him and his brother, very generous of mit to share these :)

[@roilhead]

But despite repeatly being asked by numours parties he will not give a straight answer to their questions and takes them to court.

[@j.abbass5061]

Great lectures - so interesting.

[@malwandlarikhotso]

Wish I had found this sooner. Great presentation.

[@brainstormingsharing1309]

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

[@tcooksey1972]

Loved this lecture. Thank you Gary Gensler!

[@tyleradams9545]

A video of Gary Gensler actually doing his job?

[@campusseoul]

I see MIT Sloan Management Review at Barnes & Noble.

[@prula]

The last question was poorly answered. The miners get newly minted BTC as reward + Fees. Every transaction hast to be paid with a small amount of Satoshis. In the year 2140, when the last BTC is minted, the miners will still receive the fees, which by then should be incentive enough, to keep on mining.

[@RenatoMelloSF]

but then couldn't the fees be so high that isn't worth transacting in BTC?

[@prula]

@@RenatoMelloSF Germany repatriated their gold from the us recently. It cost severally million and took 2 years. If btc transaction costs rise to $1000 it world still have been thousand times cheaper and faster. Also you have 2nd Layer Solutions like Lightning. But Few wants to buy coffee with btc!

[@raman8609]

@@RenatoMelloSF Btc will more be like store of Value. More holders will be there hopefully.

[@snaggythethird2013]

It’s interesting to me how evident the concept of unconscious bias gets when the class discusses the necessity of censorship. Of course from the security and comfortability of our western view this seems like something that only criminals would want. Luckily we live in mostly stable countries with stable governments and economies. But what if we change our point of view for once to that of people who live under suppressive regimes? Regimes that can shut down access to your own money? Might seem like an exaggerated scenario to us, but African and South American population might widely disagree with our view on the necessity of censorhsip

[@UNLTDvision]

He remembered one dude by his name in beginning who understood outside of themselves and remembered everything else built on "censorship resistance" because none of them understood the point of what that phrase means. If you give one a rule, u must give all. That includes the resistance of resistance. Their are levels of resitstance so which turns later into understanding when you get to decentralization. the majority who was debating a singular point. quite odd of. hope that makes sense to at leas 1 person. and he

[@michaels8297]

store police dash cam footage on a blockchain

[@merrick8000]

Jacked to the tits seeing Gary beloved by his students. Lot of people counting on him in the year 2021

[@austinmeek2411]

Is there a way to see what these students came up with for their use cases and final project submissions?

[@mitocw]

We do not have the student projects for publication. What materials we do have available is on MIT OpenCourseWare at: ocw.mit.edu/15-S12F18. Best wishes on your studies!

[@benjaminkaarst]

Brodish needs to just listen.

[@AB608052]

People are using the terms, 7 transactions per second for Bitcoin and etc. As somebody that likes physical chemistry, this is really heinous (even though everyone does it). How many unique instances of Bitcoin are running on the web? 1. So that term would suggest, the 1 bitcoin network is processing transactions linearly in time, 7 per second, which means that Bitcoin will never catch up, and if you turned it off, it would still be processing transactions until the year 4000. Doesn't it make more sense to say, a transaction on Bitcoin takes approximately 1/7 seconds?

[@samferrer]

I don't get the argument about the bank going away. The role of the bank is primarily to store value ... then everything got screwed up ... banks (of any nature) are not going away ...

[@CarlosMartinez-lx1bl]

If they are found corrupt (witch a lot will be as i write this) they will go away.

[@centaliu1]

Can we amend the append-only log by adding another item to the log?

[@carloslope159]

No, once it has been mined and published under consensus there is no change to the log (block or record)

[@lawniczakjohn]

If you are watching all the lectures in order, you could skip this one, as this is the most boring and doesn't present anything new, especially given the date.

[@samferrer]

The permissionless concept kind of make no sense, since any system is embedded into a bigger one, where a structure of permission is needed ...

[@alexkorm11]

Lecture on use cases of bitcoin, and only 67k views lol

[@BANYAT_W]

Thank you

[@andreasandr3363]

Does anyone know how we get the readings ?

[@mitocw]

See the Readings section on MIT OpenCourseWare at: ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/readings/. Best wishes on your studies!

[@andreasandr3363]

@@mitocw Thank you , i really appreciate it

[@boardvision11]

@@mitocw Thank you!

[@pavoutsinas]

@Prof. Gary Gensler - What are your thoughts on the Chia Project (XCH) and their use of proof of time and space to bridge the gap and provide infrastructure and security needed for mainstream use of a decentralized blockchain to make digital currencies viable in real world use cases? *Full disclosure I have 3.5 Petabytes of hard disk space I am dedicating to the infrastructure of Chia.

[@pavoutsinas]

@Ben Palaskas I thought it would destroy SSD's also. After plotting almost 4PiB I can say that all the SSD's are still working. I have 3,200 TBW written on some and they still pass tests and function 100%

[@DocMatthews0311]

Gary is awesome

[@santizd]

This class is better in speed 1.25, thank me later

[@Mondegreen2020]

I thought Gensler was single just a few lectures ago, now he's got a girlfriend. He moves faster on women than he does on wrecking Ripple and Coinbase.

[@digitalperplexities]

Comment of the day, hello from the future, not sure how his dating is going but his suing Ripple is still ongoing... 😂

[@DocDanTheGuitarMan]

Could autonomous AI driven avatars that truly and reliably represent their human interests solve the collective action problem?

[@julkiewitz]

Reliably representing human interests is one of the hardest problems in artificial intelligence, arguably harder than actually developing GAIs - general-purpose AIs. So it's kind of like solving a hard problem assuming you already somehow have a solution to an orders of magnitude harder problem.

[@AnonymousanonymousA]

BUUUUUU SHIIIIIIIIII

[@GR-gk8dh]

23:00

[@mresilient1641]

XRP is a digital currency

[@OnlyEirik]

1:11:50 Lecture 12. and he didnt even read the whitepaper...

[@scottmorgan6769]

this guy has earned 3 million plus from crypto!! now he wants to starve everyone of his success, ill be you're huckleberry Gentler,

[@joeyreddick6036]

my data mckinsey uses

[@joeyreddick6036]

no form of money is decentralized

[@joshnengi]

Good class, Prof. How does one get the readings? Like the five page article listing use cases you mentioned in the last quarter of the lecture? Thanks

[@joshnengi]

@@wathomemalinda thank you.

[@bariswheel]

@@wathomemalinda thank you kindly!

[@neilspencer6843]

@@bariswheel I cannot see the persons comment but how do I view the readings also?

[@joeyreddick6036]

not if your the the first person to bring bitcoin to blockchain

[@milosmastilovic9640]

You got a fast call after you talked about the 2 opportunities.. lol

[@joeyreddick6036]

censor heavily i am

[@morganacin]

I�m excited to see what innovations come next in the crypto space.