The opportunity has passed, but even now, if you turn away from Bitcoin, it's like constantly drinking sewage in your life. People say that Bitcoin is over, but it doesn't fail, it just explodes. I've repeated this without exception. It's not that it doubles or triples within 6 months to a year, it has increased by tens of times. When I had 500,000 won, and someone from Hanyang University said it would be worth 100 million, I laughed. If it becomes 100 million now, would you laugh? If it becomes 40 billion, you will think again. The phenomenon is changing. The means are needed. It's not a joke. It's not a joke. It's a very unique characteristic of Bitcoin. The halving period. The issuance of Bitcoin is not forever. It's usually 4 years, based on the number of blocks. But one block usually takes 10 minutes. If we calculate it, it's usually about 4 years.

It is just known. At first, 50 units were issued every 10 minutes, then after 4 years, it decreased to 25 units, then after another 4 years, it decreased to 12.5 units, then after another 4 years, 6.25 units, and now, in May next year, it will decrease by 3.125 units. This is halving the issuance amount. Halving is an interesting phenomenon. So far, people thought that halving would be bullish for Bitcoin. People like us now see it as a positive factor, but outsiders seem to think differently. This is because in the Bitcoin system, miners play a role in enhancing the security system that protects against attacks from outside. Miners provide their computing power for new coins, but since the reward is halved, miners are...

Suzy left because the cost didn't match, so the supplementation weakens. If the security weakens, when rumors of the security weakening spread, the price drops. When the price drops, miners leave, causing the price to drop again. So, I thought it would be a waste to enter the realm of death before the halving. Theoretically, that's correct. That possibility exists. However, theoretically, there's also this possibility. Even if the number of coins is halved, if the coin price doubles, miners would still make the same profit. There's no problem with protection, and this scenario is also possible. We made this argument, but people tend to believe what they want to believe, so the former now dominates the mainstream media. When Bitcoin halves, they say Bitcoin is ruined, but it doesn't ruin; instead, it skyrockets.

I repeated it every time. When the flu ended, it didn't double or triple within 6 months to a year, but I didn't know it would increase by tens of times. However, since the Earth has been rotating eastward so far, we can reasonably expect the sun to rise in the east tomorrow. Still, it's foolish to assume that we will see the same pattern in this turn. Nevertheless, if everyone thinks that way, it will become reality. However, I think the pattern will change a bit. I believe it will change quite a lot, not just a little. Firstly, I expect the rate of increase to be greatly mitigated, and since the mass has increased, there is a possibility of outperforming after the flu. We are all waiting for after the flu, so there is a chance of taking the lead. In the world of investments, a definite future is reality. That's right. This stock will double in a year.

So, that's being reflected right now. That's the phenomenon happening. The form of excellence, but now, in terms of timing, altcoins can rise by 100 times in a short period because the mass is small. Bitcoin has already passed that stage. It's a matter of time. If you give it about 10 years, it will rise. It doesn't make sense if Bitcoin were to double immediately, but if you give it 10 years, it might increase by about 100 times. Because in 2020, the mass eventually increased. But how low was the bottom? After the corona shock, when stocks plummeted, Bitcoin dropped from 8 to 9 million won to the 3 million won range. But in 2021, the peak didn't go much higher, but it hit 80 million won. That's how it was originally. Oh, it was always like that. So, it rises about 20 times from the bottom to the peak. The opportunity has passed. The opportunity is over.

Now it's a loss zone. From now on, the more you turn away from Bitcoin, the more pain deepens. Just because you chose Bitcoin now, you can't expect to see big profits because everyone has seen it before. But even now, if you turn away from Bitcoin, you will keep seeing missed opportunities in life. Simply put, when smartphones emerged, if you had started a business related to smartphones at the beginning, you would have made a lot of money. If smartphones have already risen a lot, wouldn't you be at a loss if you turned away from them? You are already entering that stage in life. It's a pity for Bitcoin. I've been saying this is a tremendous opportunity for the past 10 years, so seize it. Even if people don't like studying, you have to start with money talk to get their attention. How many Jeju billionaires have emerged? Hardly any. If you keep looking at Bitcoin as a money issue, it's not right.

It's crazy. Bitcoin is something huge that has happened. We need to make a decision. Right now, whether Bitcoin makes sense or I am mistaken, it's an unreasonable phenomenon. It doesn't make sense. But it doesn't disappear. It's either Bitcoin that is wrong or I am wrong. Either the worldview changes, or you have to live without Bitcoin. It's a pity. In my opinion, people just want to wear things in a vague state. Isn't Bitcoin also something possible? I'm not interested. It's a natural thing to talk about. But it sounds like this. I mean, Tesla is possible, but I don't care about electric cars. This is how I think. Oh, the internet is possible, but I'll live without it. That's what people were saying in 1995. It's not possible, right? In the end, it's not possible. If you think Bitcoin was right, then you

I have been wrong all this time, and I have to admit it. Right now, while shedding tears, I need to realize that I have wasted billions just because I lacked curiosity and didn't want to study. So, it's not about money, money, money. Instead, if you keep chasing money, you'll not only lose money but also ruin your reputation. It's because everyone is obsessed with money. On the contrary, if you become obsessed with money, you won't be able to earn money. Why does the essence, philosophy, system, and international order allow this? If you are interested in such matters, money will follow. Bitcoin exhibits this phenomenon, making it an amazing means of transferring value at the speed of light in the digital world for the first time in human history. There are various ways to define Bitcoin, but what we should be most amazed by is that for the first time in human history, it has created an unchangeable artifact, not a guarantee for something but a value proposition.

It would be nice to know the value of transmission means that can be sent to someone who is far away and cannot be canceled again because I changed my mind. It's not easy to define money. It started with human history, so if you ask if Bitcoin is money, you need to answer differently depending on the intention of the person asking the question. In the end, we should consider it as money. Money has had various forms even before Bitcoin. Throughout human history, there has never been a single currency used globally. It's the same now, right? There are dollars, but each country has its own currency, right? But at some point, we might have thought that money was only issued by countries, but it wasn't like that in the past. Shells were used as money in the past, and there is plenty of evidence.

In actual special cases, people create currency directly. For example, in a textbook, in a prison, cigarette butts become currency. In the case of a war-torn country like Somalia, where the central bank is destroyed and looted, even though the central bank's records are all gone, the currency issued by the central bank continues to be used. It is still in use now. When we think about old currencies like this, we don't necessarily have to associate currency with a country. Instead, it is a higher concept. Now, we should think about clean currency, where the price does not fluctuate, the country recognizes it, banks accept it, and it can be used for trade payments. If we were to define currency, Bitcoin is not a currency. However, with Bitcoin, we can change people's behavior as we want.

If you can have things or gather people, if that's the case, if it becomes a currency, if Bitcoin accumulates enough, especially national elites, they didn't understand it at first. I'm talking about the elites in the United States. I thought it was a phenomenon only happening in China. So, I thought it would disappear soon. However, since it didn't disappear and kept existing, now, the more you study what it is, the more the national elites start to dislike it. Because it challenges the national elites. It's a unique authority that only the elites have. It's not just about currency; even handling currency is the exclusive right of the elites. Bitcoin could interfere with interest rates and such things, so they don't like it. That's why, over the past 15 years, I think that's what's been happening. But now, we need to move beyond the stage of disliking it and start feeling fear.

Oh, we can't stop that no matter how hard we try. As national elites, we will start to feel fear. After feeling that fear, the next step is what we expect now, right? Then we have no choice but to go together. So, we need to actively accept it, right? We should change our thinking like this. How to write it? People already know. So, when Russia invaded Ukraine last year, Ukrainian people crossed the border to Poland. At that time, all they could take was the value they could carry on their bodies - like gold or paper. But in reality, even that is dangerous in places like refugee camps. Bitcoin is an electronic code and can be remembered in your mind, so donations can be received in Bitcoin and Ethereum, and even from relatives. When wars or crises happen, geopolitical crises occur.

You can consider it as the only asset that can cross borders when it occurs. Banks are all frozen. There are exchanges everywhere in the world, and even if there is no exchange, you can do P2P transactions. Even this time, before Hamas attacks Israel, there are stories that they raised funds with Bitcoin or something like that. It keeps appearing in the news, so I'm a bit concerned. Because even though it's an elite talk, elites don't view Bitcoin favorably. The nature of Bitcoin is neutral; it can be used badly by bad people and well by good people. It's just like the internet. The internet, which is the most important thing in the information age, was initially a platform for things like pornography and gambling. Bitcoin is the same; you should think about how Hamas can raise money using that characteristic.

So, asking about the usefulness of Bitcoin in 2023 compared to now implies that you think you are lagging behind in your studies. Here is a rural area, and Korea is a very protected rural area. Intellectually, because it's not just a problem for us. But in the rest of the world, this Korean situation is not common. Countries like Venezuela, which are causing massive inflation, are more common. In those places, there is a need for a means to protect one's property and assets. It has already been proven. The memory of Bitcoin among Koreans is completely wrong because of this. We are in a very politically sensitive place. Changes are being attempted, not in the Middle East, but in Haimart. It's not crossing over, but it is recovering. That's about Bitcoin, and other coins...

Now, almost 90% is gone, and what's this altcoin thing? When you look at other things and talk about it as if it's not Bitcoin, even the person speaking knows it's not Bitcoin, and the person listening knows it's not Bitcoin, but it's all collectively referred to as Bitcoin. Bitcoin doesn't actually move that seriously. Nevertheless, about half of it is flying compared to the peak, so you need to be careful. In the Bitcoin world, there was a serious fight for about two and a half years over whether to increase the capacity while doing a hard fork, as the leadership of Ethereum was not clear. Since there was no leader in the Bitcoin world, that was the weapon from 2014 to 2017, but then Ethereum created the bull market. Ethereum has Vitalik Buterin, a very young and smart leader, who created the ecosystem.

First and foremost, we should consider him a righteous leader, not a fraudster, because he is not. Now, young friends who are influencing people, Ethereum has been changing its appearance. It may be good to change its appearance so far, but people are now opening their eyes to the advantages of Bitcoin. What is that? It means that since there is no leadership at all, it will remain the same. Even if it changes, it may not change much. However, Ethereum will change. Ethereum is good too, but there are people who think Bitcoin is better. However, with other alts, Ethereum has strong and righteous leadership, not leadership full of greed. So when the price goes up, they just throw it away. In fact, even Vitalik Buterin sells his own. He recently sold some. That's a bit of a question. Ethereum was also created by Vitalik alone.

It's not a joke, but it has influence. It's intellectual influence. When it goes in that direction and changes like this, people follow along. There's something that people don't know well. In Korea, people hardly deal with Bitcoin. In transactions, mainly different coins are used. It's quite unique that there are statistics like this. In the global Bitcoin holdings and trading volume, our ranking changes. We don't even look at it. But in the overall altcoin market, like Upbit, it's amazing. The scale is much bigger than other coins. People call it gambling because they perceive it that way. If you really take an interest in the phenomenon of Bitcoin, study it from a humanities perspective, and deeply understand it, you won't focus much on buying and selling. You'll be interested in changing the world. The reason for holding or selling for a long time varies for each person, so they can sell. Bitcoin is in English.

If we talk about a game-changer in terms of expressions, Bitcoin is a game-changer. It's a serious situation. I might not have the credibility to say this, but the world's largest asset management company, BlackRock, its CEO Larry Fink, has been continuously speaking out recently. He said, Wherever you are in the world, Bitcoin, which is not affected by unfair exchange rate policies or interest policies of a country, is an international asset. When International Essay mentioned this, some of you might think, What's this about? But when someone with much more money and much more influence than all of you, like the CEO of BlackRock, makes a wrong decision, it won't be in the range of hundreds of billions, it will be in the range of trillions. When such a person speaks, you should listen carefully. He is already saying this, it's a fact. When someone listening to this story has studied more than Larry Fink of BlackRock or has done more research,

If I had a lot of money, I could express a different opinion, but if not, I should change my thinking now. I need to study a bit. Even if my conclusion is different from that person, I shouldn't just talk without studying. I should think like this. Actually, the most attractive thing about Bitcoin is that there is no insider information. The reason I decided to invest in Bitcoin is because I used to think that stocks were a battle with insider information. Of course, it's a different game to invest in something that seems to be a promising company for the next 10 years. But in other cases, in fact, insiders know first. However, with Bitcoin, that's not the case. It's a game where I compete with myself as much as I study. But Bitcoin has been spoiled. There is insider information. Right now, the SEC members, the U.S. Securities and Exchange Commission, directly.

Insiders manipulate the price of Bitcoin when there is a vibe that they might approve a Bitcoin ETF. When the vibe of approving a Bitcoin ETF comes out, the price skyrockets, then they reject it, and it crashes. They do this periodically. They hate it, really hate it. They just won't approve a Bitcoin ETF in the future. This has been going on since 2014 until now. They give hints like they might approve, then they don't, then they might, then they don't. There are like seven, eight, or nine SEC members, not sure, but these few members decide. Those members, their friends, can buy or sell Bitcoin in advance. Right now, there are insiders who know. What they say is if the Bitcoin ETF gets approved, it will skyrocket. But no one can know for sure. Those members know. Will they approve it this time or not?

It used to be like that. It was like this for ten years. Accumulating expectations for ten years, then crashing, accumulating expectations, then crashing. But this time, what's different is that now the court's decision seems imminent. Isn't the time now? I also think about the fact that Black Knight SC, the largest supporter of the Democratic Party, has applied for approval. Ultimately, the important thing is to decide politically, not by bureaucrats, right? In the past, I didn't see a 10% chance for ETFs, but recently, I see it as fifty-fifty. It will happen someday, but the question is whether it's now. Still, I think the possibility has significantly increased. First of all, we need to organize things in the knowledge industry in Korea. I discovered Bitcoin and first studied tulips. Because I knew about the tulip incident as people know it. But now, I [will]...

As I realized, what I've thought about is that even lips are more suspicious. Isn't this fake? So I watched it, and indeed, it was fake. There are no known tulip incidents where carriages were sold at a high price, and the Dutch people committed suicide, failed, and so on. Isn't that the case when people talk about it? The person who wrote about it was a Scottish writer who had never been to the Netherlands, even 200 years after the tulip incident. He quoted all that. Therefore, independent scholars have been studying the tulip incident since about 30 to 40 years ago. According to the research by a historian named Goldka, no one filed for bankruptcy in Dutch courts because of tulips. Dutch people have left many records. Although there are instances where the highest price was sold for a carriage and a house, those were gifts exchanged by reconciliation merchants.

It was a limited story of people. Most of those who said we suffered losses from tulips were mostly involved in land speculation. Now, this is the discovery of the historian Goldgar, and independently, American economists have traced and found that it was just a natural supply-demand phenomenon. Tulips from Turkey were expensive luxury items because they were not well cultivated in Western Europe. But when the price went up, in economics, when the price goes up, it signals people and resources gather. So, people and resources gathered, and they started to produce it massively. That's why there was a crash. There wasn't such a serious bubble burst. Here, we need to take another leap. This is not easy. If the tulip incident is historically false, exaggerated, and false, then people are just...

Holy, is it true that society gets all excited about bubbles and then collapses? Yes, it is. This is exemplified by the BCCP stock company and incidents involving other companies. The Tulip Bubble incident in the Netherlands happened about 200 years ago, and people often confuse these two. There was a time difference of about 200 years, but in this book, it emphasizes that it's not just a matter of time difference; the essence is different. The Mississippi Company's stock incident, which triggered the French Revolution, or the South Sea Company, which completely threw the British government into panic, unfolded differently. Both incidents involved the collapse of bubbles, but they were cases of accounting fraud. Basically, as I mentioned earlier, insiders inflated non-existent assets, marketed them as real, and turned non-existent things into money. At that time, technologies were not advanced enough to realize such things.

Inflating and attracting people to invest and have expectations, then it bursts. But the output, that's not possible because there's no insider information, it's a product, not a company's ledger, it's a different form. So, you can leap in thinking here. Most of you may not agree with my thoughts, but theoretically, it's correct. Bitcoin proved that. Let's think if the output doesn't rot. It doesn't rot, so it has value. Then, the output becomes currency. Therefore, Bitcoin, in fact, people mistakenly think it's the same as stocks, but if you know it well, it's the same as antiques. It's not a joke. So, in this book, I wrote this content with great effort. To do that, first, you need to recognize that the output event itself is manipulation and falsehood.

Even if there weren't, it's just a few people, around 30 people, who inflated the price and suffered some losses. This is not the case in the Netherlands. There is no evidence, it's not rational, and it's different from accounting fraud incidents. Tulips, however, were the problem because they rotted. If something like tulips had such a price, we would think we have it because it's valuable. But regardless of its value, if something has that price and is not mass-produced, then it becomes Bitcoin. This is a speculative bubble. I have proven this theory recently through an experiment called the Moby Project. We were interested in the utility. You can still see tulips, but what is the utility of Bitcoin? People say this. The utility is not important. The monetary phenomenon is more important. People invested money to get it, and that is what matters.

We maintain the price. Bitcoin is a new asset. Before financial institutions or these people adapt, the public realizes it. Some continue to spread optimism about Bitcoin, so there may be a period of stagnation, but if the mainstream had recognized and adopted it quickly, a very gradual curve could have been drawn. But now they are cursing. By cursing, it is being suppressed, but when it goes up, they realize that the curse was all wrong, and they start to understand and rise. This is not a good phenomenon. Now, mainstream in academia and intellectuals must acknowledge it. Then, as the pressure drops, without suppression, without pressure on the pressure, it can actually be used in life and put on accounting books. As you know, Bitcoin is already now, still.

Before jumping, 40 million won is a serious matter, right? But how do you know that? Bitcoin is over, you can ignore it. People still know this. They make people look like fools. It keeps happening. If Bitcoin is 400,000 won now, is that cheap? Even when Bitcoin was 400,000 won, it was very expensive when it turned around. Because when people who haven't studied Bitcoin look at it, they see it as trash, like a membership fee. That's how it is. So, isn't it possible to imagine going from 400,000 won to 40 million won now? When it reaches 4 billion won, you start to think differently. When I bought it for 500,000 won, and when it reached 100 million won, people at Hanyang University said I laughed. If it reaches 100 million won now, will you still laugh? It's something you can imagine. Now people, they delude themselves. They delude themselves into thinking that their lives are guided by their own spirits. Bitcoin...

I understand for sure. Most people, whether life shapes their minds or minds lead their lives, cannot lead their lives with their minds. Since Bitcoin is now seen as a slump, at 4,000 or 3,000, we think of 100 million won. When Bitcoin was 500,000 won, it was unimaginable. What was it called? Because life is not like that, it's unimaginable. But because Bitcoin is a mental product, if you study it mentally, you can imagine it. So, when Bitcoin was tens of thousands of won, we already saw hundreds of millions. It's possible. Satoshi Nakamoto said, Coin moves. Even now, people are trading. If it moves, it crashes suddenly because there's a flood of goods. Why didn't he reveal himself? Making such a tremendous invention and even making a movie out of it would be as dramatic as it gets. When children suddenly turn on the computer one day...

If you put the private key that fits exactly, I have claimed to be Satoshi Nakamoto since five years ago. The evidence that he is Japanese is not there. Superficially, in October 2008, a paper on Bitcoin came out. If you claim this with the pseudonym Satoshi Nakamoto as a Japanese name, you should now call it Nakamoto Satoshi. But he himself uses the English name Satoshi Nakamoto, rather than claiming it as a Japanese name. There is no evidence that the pseudonym is Japanese. All communication was done in English. The question of who he is still remains. So, what do you think in 2008 when the financial crisis on Wall Street began in earnest? The block changes the following year, created in January 2009. It was engraved on the first block. If you write something on a blockchain, it will not be erased forever.

Theoretically, if you ask what was engraved on the first block, it was the headline of a British newspaper. The British Treasury is giving banks a huge amount of money to save them, something like this. The philosophy is already revealed from the beginning. The founder invented it as a countermeasure to existing banks deceiving and defrauding the public with money. This is already well-known information on a flat level. To know more from here, to know more about its birth, now we need to speculate, speculate, speculate. Since five years ago, I have been claiming that theology and motors are connected. This is one of the convincing arguments. Who is this Halfin? Halfin is known as a successful venture business entrepreneur and developer. Halfin was interested in digital money in the early days of the internet, and a magazine that only hippies read.

We introduced the concept of Stroopy. We should be interested in digital money. Back in 1994, five or six years after the general public first encountered the internet and started creating their own emails, they were already concerned about this. When we conduct transactions on the internet, the government monitors everything. There is a discussion now about the need for a currency that the government cannot monitor. In the midst of this, the interest in digital money is growing. In contrast to this trend, there have been ongoing attempts to study cryptographic systems as a means of transmitting value. These efforts have been made in various branches and are now converging. Therefore, the fundamental principles of Bitcoin that we know today, such as proof of work, have been established, but the finished product has not been created. And then, for four years, no progress has been made.

Until now, someone who goes by the name of Hal Finney will now submit a paper. When it comes to Hal Finney, even if someone doesn't know who he is, many people send papers saying they like my ideas, but they don't read them all. Because most of those are just ideas that are not feasible, things that someone has already done. There will be many ideas like this. But Hal Finney, he recognizes it himself and introduces it as a noteworthy argument in the industry where Satoshi Nakamoto is. So, officially, Hal Finney is the person who was the first to be acknowledged by Satoshi Nakamoto, and because he is anonymous and well-known in the industry, Hal Finney is the first anonymous person to be acknowledged by Satoshi Nakamoto. Another thing is, now, the first person to receive Bitcoin from Satoshi Nakamoto, and the first person who has done something great other than Satoshi Nakamoto, has been formalized.

He is a person and has made a crucial upgrade with Satoshi Nakamoto, but he is a person who can now claim that Satoshi Nakamoto is Hal Finney. Among the various reasons that people like the most to support this claim, what people want the most is that 8 Finney died. He passed away in 2014 due to ALS, but it was not a sudden accident, it was a predicted death. So, in September 2009, he revealed that he had been diagnosed with ALS, an incurable disease. Why is September 2009 important? Because in January 2009, the first blockchain was mined. So, if this was his lifelong dream, he would have shown it to the world and then immediately found out that he had an incurable disease that year. It's a tragedy, so people have a desire for the founder of Bitcoin to be already deceased. People are selfish, their Bitcoin.

It's the deceased's wish to protect, and Hal Finney is the perfect fit for that. There is a reason the deceased wishes for it, which will be addressed in another question later on. It seems like there is a belief that Hal Finney, who fits perfectly with the deceased's wish, is promising. After Bitcoin was first introduced, in 2009, there was mining, right? Mining is the act of receiving new coins. At that time, 50 coins were generated every 10 minutes. The deceased did that almost alone for about a year, so it is considered to have increased from 1 million to 1.1 million coins or more. It is believed that Satoshi Nakamoto, the founder, mined alone. So, if it's 110,000 coins, the total circulation now is about 5%. If you get excited and live on, the government might take it away, or they might demand taxes. In that case, a large amount of supply would come out all at once.

Isn't it because you have to pay taxes? If you think like that, it's a bit uncomfortable now. Properties are pouring out, so Satoshi's coin is moving. Even now, that's why it moved. Then it crashes. Unlike a bank account, we know someone else's bank account because we have to send money. But we can't peek into someone else's bank account, right? You need a warrant for that, an investigative agency. But with Bitcoin, we can look into everything. It's not specific to that person's account. When we see any account, we can see everything in the past and the present. Because with Bitcoin, you can see all the perpetual ledger transactions. The initial wallet suspected to be Satoshi is moving. Even now, so now the price is crashing. It's not because a large amount is moving and crashing, but because of the fear that people cannot understand.

Now, instead of Satoshi Token, it's Fatos Token that's being called. The origin seems to be like this: a silver vein found in Bolivia was named Fatos because of that, worldwide inflation occurred. It's a concept like that. It matches with Satoshi, but it's not definite that it's exactly Satoshi. Also, besides Satoshi in the early days, there were people who did the most, they could be one of the anonymous people, so it's not just confirmed as Satoshi Token, but it's Fatos Token that's being called. When Fatos Token moves, it has a significant impact on the market; it always drops. I've never seen an exception. I don't recall precisely checking the data, but if Fatos Token moves, then for a week...

During that time, the price definitely drops, like around 3%. It seems to move once or twice a year. It's about buying and selling. The reason for the movement is vague, and it moves. It could be Mr. Sato or not. There will be a huge amount of Bitcoin in Bolivia. Without moving, from 2019 to 2011, those huge amounts of Bitcoin are not moving, entering exactly 50 at a time. Bitcoin is not neatly ringing, but it is chunked like this. Some chunks have 100 pieces, and some have 0.001 piece. There are 50 pieces neatly packed, and now that some of them are moving, it's chaos. The city is back, something like that. This is why experts in the world are wondering why it's not Sato's style.

Now, let's convincingly talk about this. This is not just a Satoshi dish, or something like that. By doing this, you can calm down a bit, and because it doesn't move continuously, it's easy to forget. This is like a toothache. That's why we can't completely understand it. As Bitcoin grows, so do the problems. As Bitcoin succeeds, the problems also grow. It can be seen as the uncertainty of the beginning. When Bitcoin was small, its meaning was also small. But as Bitcoin grows, how much would 1.1 million units be worth? It's enormous. You have a family, right? So, that's the point. Bitcoin is a tremendously significant invention academically. We need to think about this. Hal Finney isn't an angel, so why didn't Mr. Satoshi reveal himself after making such a tremendous invention?

There is one thing, if this person is really an angel, why didn't they burn everything? We have a great system of burning in our cryptocurrency because burning means burning, right? This is how wallets are made. For example, they are made like 11111. Then no one can find the private key of that because the system of the private key is that you create a private key, put it through a hash function, and come up with a random value, which is now a public address. So the public address has no meaning. In order to create a word in front of the public address, you have to try a tremendous amount of randomness. So you can create one or two words, but it is very expensive. But if you make this meaningful continuously, it means it cannot be cracked. Do you understand? It means it cannot be restored because no one has the encryption key. You just have to send it there. If you burn it, it means you haven't burned it.

It's like this. If a thousand people had their own, they would have burned it, but they didn't even burn it. And if it were an ordinary person, they would brag about inventing it, but they didn't do that either. Here, we need to think. It's not completely selfless, nor is it someone obsessed with self-interest. We need to imagine a certain profile in our minds. If you die, you can understand. If you die and let it be known that you invented it, you will gain honor and leave your name forever. But what about your family? Your family will suffer from the government and bad people. But if you burn it in exchange for honor, then you leave nothing for your family and become a deceased person who left nothing. You can give a lecture, but if the lecturer dies, the family of the lecturer can attend the lecture.

I couldn't help it. At that time, I think I made the loneliest choice as a parent. Because I'm a parent too, instead of giving up honor, I chose money. By choosing money, it's possible to generate SmartCoins in a certain way. If you have a certain amount of money, you can handle it well enough. So, I gradually show it to my family in an irregular way. Even now, I can pass on the encryption key a little bit to my children. If my children suddenly turn on the computer, one day the encryption key will be right there. If they put it in, there will be 50 bitcoins. It's not a set date, and you can make something like this anonymously. Because Bitcoin is such a historical event, stories related to its founder could be made into a movie without any problem; it's as dramatic as a movie. Even if it's not a big deal, it's still a drama. It's both the greatest advantage and charm of Bitcoin and also its biggest drawback: decentralization.

This is a concept that has spread widely, but the concept of decentralization itself is a concept that has been connected for a long time in Western political philosophy. If I easily explain the concept of decentralization that you can relate to, there is a movie called The Lord of the Rings. The motif of this movie is a long journey to destroy the absolute ring by putting it into the volcano. But if you look at the prologue, there was a war even before that. However, a good person won that war and obtained the ring. So, he puts it on his finger, and now he becomes invisible. Since the good person gained power, the world should become better. However, that good person, after gaining power, becomes corrupt and falls into destruction. That's the prologue of The Lord of the Rings. Where does The Lord of the Rings come from? It comes from Socrates. Socrates...

I talk to my disciples and tell them the story of the Gyges ring. It seems that such a thing happened in the old days. So, in my view, in the circumstances, a shepherd from the region of Gyges saw where lightning struck. There was a gruesome person lying naked at the spot where the lightning struck, and he was dead. But he had a ring on his finger, so the shepherd put the ring on his own hand. When he put it on, he became invisible. So, this shepherd who knew about Gyges used this to rob the queen of the kingdom, eliminate the king with the queen. It seems like this story originally existed. Socrates did not make up this story, but when I share this story with my disciples, I ask them, Hey, if you could get such an absolute ring that could make you invisible, would you use it for good or for evil? When I ask this, all the disciples think about being good.

The students were only thinking about doing bad things. They don't really think about following the rules. That's how Socrates makes them realize it themselves. The problem is not the people, but the system. Although it's not neatly organized like this, this kind of content continues in Western philosophy. So, in 1215, do you remember what happened? There was a historical event called the Magna Carta. When the English king was oppressing the nobles, the nobles rebelled. Normally, in a rebellion, if it fails, not only the person but the whole family becomes slaves or dies. They fought for power by risking their lives. Surprisingly, the nobles did not kill the king but made him sign. They made him understand that his power has limits by making him sign. This became the prototype of modern constitutions. This is how history goes.

It's not just a linear progression, but rather a process of reflection and repentance afterward. This is like, but in any case, the spiritual homecoming, that's the Magna Carta, right? People's nobles' thoughts were like this after the coup. The problem is not the clauses, the problem is the power concentrated in the center. So, the power concentrated in the center needs to be decentralized. This is connected to the content of Socrates' Machia se Banji Banje Jejung. Those who studied well in the West seemed to naturally understand this. Therefore, it feels natural for them. Decentralization is also being discussed a lot on the internet. Twenty years ago, there were expectations of decentralization on the internet. As you can see, Google, Meta, they monopolized everything. People were disappointed. So, while there were expectations of decentralization on the internet, it turned out differently.

In the past, MBC was completely centralized on terrestrial broadcasting. However, when it comes to the internet, it was expected to be decentralized with bidirectional communication. Surprisingly, people's behaviors did not go that way. Anyway, the creators of Bitcoin were people involved in the early days of the internet. They thought the internet was incomplete. For the internet to be completed, a decentralized payment system capable of micropayments was needed. After continuous attempts, Bitcoin was eventually introduced in 2008. Even those advocating for Bitcoin do not necessarily live a decentralized life. There are certain norms of humanity that we need to embrace. Humans aspire to something, but the reality is somewhat different. Modern people may call for nature, but that nature is not wilderness.

Simply put, artificial nature is nature that consumes a lot of energy. When people praise artificial nature, saying they love nature, in reality, if you throw them into the forest or medieval woods, they wouldn't survive. Modern people should see it similarly. There is a certain inclination in the minds of decentralized modern people. They buy things from big companies and department stores because if there is a problem, they can sue or complain, unlike buying from street vendors where you can't complain if you make a mistake. This is all in their minds. People who instinctively advocate for decentralization really deny the country, build bunkers underground, store water, and have guns. In the U.S., there are people like that, adhering to this extreme philosophy, living in a self-sufficient manner. Such people are a minority.

Conceptually decentralized, so people have to create exchanges because they need to buy bitcoins by trading won depreciation. The essence is not the existence of exchanges, but why do people suffer when exchanges are hacked? Because if people truly live a decentralized life, they wouldn't leave their assets on exchanges. They should only trade and withdraw. However, if they entrust their assets to exchanges, incidents like the Mt. Gox case, where assets were lost due to hacking, can happen. The exchange itself can also become corrupt, like the FTX incident. When the damage spreads, we need to have a sense of balance. Understanding decentralization is the goal of Bitcoin, but not all buyers and sellers of Bitcoin are interested in decentralization. Even young people who talk about decentralization often lead very centralized lives.

It's a paradox to live, but since both exist, we have to accept it. There will be no one who denies that we will eventually enter the metaverse era. When the internet first came out, there were many people who doubted how strangers could trade online. They just thought of it as receiving emails or playing games, not doing any actual trading online. But now, with Amazon, it's the same. You can't deny the metaverse era. For the metaverse era to operate, there needs to be identity verification. It's about identity verification technology. I didn't talk about it today, but blockchain, Bitcoin, and Ethereum all aim for the same thing: identity verification, proving who you are in the metaverse space. Why is this important? Because once the metaverse verifies identities, it will combine with finance. That's why the world's largest single economic zone will be created in the metaverse.

The digital complex network of finance and trade determines whose companies take the lead in which country, which will change our lives and those of our descendants. Companies in our country are striving for profits. Among them, there is a company that is rooted worldwide. People everywhere follow it closely, like a part of their own body. Even though they don't look at their own bodies, they always look at that. There is a company in the world that sees this as a machine. But when the metaverse and financial complex networks are connected, this becomes self-certification, finance, insurance company, or platform itself. But people are blind to this. However, Apple knows. Apple knows exactly where it's going. Apple is self-certification itself. Why do you use Apple machines? I only know.

When you authenticate, the data follows you, no matter what device you use with Apple. It's centralized. So, Tim Cook can kick Elon Musk out of Twitter by removing him from the App Store. Samsung can't do that because Samsung and Google can also use APKs. Whether it's an open system protocol or Apple's centralized signal authentication, Samsung and Google need to make decentralized signal authentication like Apple convenient. The technology for this is blockchain technology. We are on the verge of that era. It's serious. I think we should consider the IT industry and semiconductors together because semiconductors are the foundation and core of the IT industry. Recently in Seoul, when the water comes in, it sinks. If you change one large apartment to several small ones, you will still have money left.

Even if you know, you can still have a certain outlook on real estate prices.

"10억도 거뜬하다" 비트코인 폭등 전 무조건 '이 신호'가 나타난다 (오태민 교수 풀버전)

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"10억도 거뜬하다" 비트코인 폭등 전 무조건 '이 신호'가 나타난다 (오태민 교수 풀버전)

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