Crypto Investing #37 – Why Bitcoin Is So Revolutionary

What’s up, guys? This is a Tai Zen. I’m standing here in front of the biggest, the most impressive, elegant, and luxurious libraries in the world. If the ancient people from Babylon could see this library, they would probably shit in their pants. Behind me is the New York Public Library. In my opinion, it is probably the biggest, most lavishes and the most luxurious, elegant library that we have in America.

The reason why I’m making this video is that I was passing this library as I was just walking around Bryant Park, which is on the other side of the library. Suddenly, I had a few thoughts about the Bitcoin, the blockchain and cryptocurrency technology that we have today.

One of the most revolutionary inventions ever in the history of humanity, in the history of finances and in the world is the invention of the public ledger, technically called the blockchain, otherwise known as Bitcoin.

We are at the end of 2015 and the beginning of 2016 as I’m making this video and on the news, there is a shift from calling it the Bitcoin technology into calling it the blockchain technology. There’s nothing wrong with that. When Satoshi Nakamoto invented Bitcoin, he originally called Bitcoin and the blockchain.

However, there are so many negative articles about Bitcoin that everybody wants to draw attention to it. Everyone including Circle is using the term blockchain or a public ledger. For example, the banks are doing private blockchains this and other companies do in the blockchain that. I’m not one of those people that likes to take credit away from where it is. No matter what they try to call it, it’s still Bitcoin.

What I want to share with you in this video is that what makes Bitcoin, the blockchain or the public ledger technology so revolutionary.

I’m going to talk a little bit about history. I’m not, of course, a historian or a scholar. I’m just an early adopter and investor of cryptocurrencies. Therefore, if I’m wrong at any of this stuff, don’t panic. You don’t have to leave a thousand comments in the comment sections. I always quote people wrong and get my data wrong, but once I found out that is wrong, I always corrected.

I don’t have a photographic memory like some of my friends, so try to work things out with me guys. When you go back in time and look at Chinese history and Egyptian history, those were the two most powerful civilizations on the planet during that time

I read in the history book, which I can’t remember the name of the book or the scholar’s name, somewhere when I started studying Chinese history that one of the key inventions of the Chinese that allowed their civilization and nation to survive much longer than the Egyptian civilization and not extinct was the writing system.

When the Chinese and the Egyptians first started their writing systems, they both had what’s called a pictogram. For example, if they wanted to come up with the word for a man or a woman, they would draw a stick figure of a man or a woman. If they want to come up with a picture of a dog or a cat, they would draw a cartoon picture of a dog or a cat. In both civilizations, when you look at the pictures that they drew, you can easily tell what the pictures represent it.

The reason why the invention of writing was so important is that it allows the one generation to learn something, and then pass that knowledge down to the next generation.

In Chinese civilization, every time a new word had to be invented when they started running out of a picture, grams or pictograms to depict the of what happens in real life, they started to replicate pictures and put them together to represent ideas or abstract ideas. That is the reason why their civilization could live and survive for a long period of time.

Keep in mind that I’m not a historian or a language scholar. However, in one of the books I read, the scholar mentioned that one of the key components of Chinese successful civilization that they had a mechanism or a method to create a new word whenever they make a new scientific discovery or find out a new word came out in the world.

On the other hand, the Egyptians did not have the same method so that they were not able to pass down their knowledge to the next generation easily.

I don’t know if this was 100% true or not, but it makes sense to me that if you don’t have the ability to transfer your knowledge to the next generation, your civilization or people are not going to last long.

Especially, at that time, the average lifespan of a man was around 32 or 33 years old, which is compared to our time is just a half of the number, so you didn’t have time to accumulate knowledge and you pass it down. You had to learn quickly, and then hopefully you pass down to your son, your kids or the next generation.

It was very hard to transmit the knowledge of someone that was very intelligent to another human being without a good writing system. The invention of writing by the ancient civilizations like the Chinese and the Egyptians is a key component to allowing them to move forward with their technology, science, culture, knowledge and the experiences they had.

The second key invention that came along was the Gutenberg press. Back then, there were all kinds of ways to print a book, but it was not a mass-production method. They literally had to print one book at a time. Therefore, there was a high value placed on books for hundreds and thousands of years ago.

When Gutenberg came along, the printing press that he had invented was revolutionary because it allowed you to print a large number of books very cheaply.

That was the second wave of innovation appearing that just revolutionized how people were educated. Besides, that period was the Renaissance when all of the other stuff started to develop again in Europe. Obviously, it is because they could easily manufacture record, produce and manufacture very low-cost books to share their knowledge with the next generation the first time. Let me check the recording here.

After those 2 crucial inventions, the third one that I believe that completely revolutionized the world was the Internet. In our history books now, it says that Al Gore invented the Internet. I don’t know how true that is, but that’s what they teach here in American history books. It must be true. I don’t know. Anyway, the Internet was invented by Tim Berners Lee from MIT.

The reason it was a key invention is that it allowed a low-cost distribution of knowledge. You can quickly copy and paste something and then send it across the world to somebody else in an email or by electronic.

Those three key inventions, which are the invention of writing, the invention of the Gutenberg press to produce large numbers of books, and the invention of the Internet whether you believe it was invented by Al Gore or Tim Berners Lee, revolutionized the world.

In my opinion, right now, the fourth invention that is even more important than all the other three inventions combined is the invention of a public ledger technology, also known as the blockchain technology, the Bitcoin technology or the Bitcoin currency.

Now, it’s being used as a currency, mostly known as Bitcoin. I don’t even know if it’s called advanced technology, revolutionary technology or revolutionary technology, it is even beyond all of that combined.

Because it is the first time in human history where the majority of the people came from all over the world can agree on a piece of data that is going to be written into a ledger that is kept for history and can never be erased and can never be changed unless it’s agreed upon by the vast majority.

As we’re speaking, that’s how it’s supposed to work. It’s not 100% like that because the processing of what goes into the ledger is being all centralized in the hands of a few Chinese miners in China. However, I’m confident that the Bitcoin community and the technology itself, sooner or later, will figure out how to decentralize that Bitcoin mining. I want to share this video with you today with the New York public library, one of the biggest libraries in the world right behind me.

A long time ago, the books and the printing of these books were key inventions that changed the world. Today, I believe the invention of Bitcoin, the blockchain technology, the public ledger technology is by far the most innovative invention has ever been built in human history to spread knowledge and record it accurately.

I am grateful that I am living during this time while Satoshi Nakamoto is alive, while this invention started and I can profit and benefit from it.

I hope that you guys take advantage of this and really capitalize on this new technology that’s come out. Don’t be one of those people who is wondering why they did not profit from it when the Bitcoin technology is pervasive and everybody’s using it in, for example, 10 years later.

If you liked this video, give me a thumbs up. If you don’t, give me a thumbs down so I don’t waste time making it. I just wanted to share this video with you in case you are on the fence whether or not how revolutionary this Bitcoin technology is.

Thanks for watching this video. If you have friends or family or anybody that are in doubt of how innovative, revolutionary and transformational this Bitcoin public ledger technology is, please share this video with them and I’ll see you guys in the next video.

 

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