don't know if this simply means you need to get. discovery to. subscribe you don't need documentary on you tube. i haven't invested in any yet myself i should try to currencies are playing an increasingly important role in the economy companies like tesla accept

a bad call as payment even some fund managers recommend investing in digital assets but how do they work what are their implications for everyday life cryptocurrency other worth the ride our topic today and made welcome. it was one of the hottest i.p.o.'s of the year driven by the cryptocurrency bull market calling base made a huge splash on wall street with many industry hopes pinned on the u.s. as biggest digital currency trading platform and bitcoin the world's most popular crypto currency seems unstoppable it's just reclaimed the $50000.00 mark recouping some of its losses following washington's plan to raise capital gains taxes for wealthy investors now i was a tiny set back but then bitcoin bounced back again ah cryptic currencies indestructible or just a fun gamble for those with money to burn mr schmidt to went to find out. i believe in because in the end i hope it will become the most important currency in

the ruled nothingness more wielding. ok we weren't being entirely serious there but belief and trust do play a role in bitcoins viability let's consider the process. of i think been coined it is revolutionary so there is no fear of inflation because there is a limit only $21000000.00 bitcoins are allowed to be mined and people have a transparent process the whole time and it's safe and secure and it's cool i think . well my bitcoin is still sort of your chill for me it doesn't have any i'm barely you basically it's all fair show and if you think it's like bubble yes admittedly in the 1st years after its launch in 2000 his value increased only gradually and its image was spent think about how many bitcoins transactions were used for

illegal for example drugs where all of the criminals use bit quiet but in the world something is changing countries like germany do force because it uses to verify themselves before they enter the big called world so it's not that anonymous as it used to be over the next few years confidence grew as bitcoin's technology proved stable and the price even hit $900.00 euro's to crash was just around the corner some point in price to cryptocurrency bitcoin stolen several $1000000.00 europe's worth was last year it falls on a trickle a tip but think about it if someone would steal your money take a look at i am crouse coins were already stolen in the past where is the guarantee that it will happen to your beat clients actually the big con infrastructure has never been hacked so it's safe and we're talking about 12 years and some big guns

have been stolen i agree but the reason it is those people do not care to have it in the safe place interest was for the books that after a few celebrities support the ventures actor as rep i can your west and the think of us brothers. and it was the big question. first. bitcoin isn't good for everyday purchases let's listen to my ex-pres. then if that ever happens it's still decades away hunt go wrong run to cryptocurrency consulting firm he has been following bitcoin for years. obviously there's the volatility of becoming to consider which discourages people from spending it. and there's always the question why should i spend money today when it may be worth more tomorrow time to get some help and some

support it's going pretty well already. live our managers of fund worth billions and he advises investing in bitcoin. i suspect that acceptance will grow in the next few years partly driven by greed because the prices are clearly going up and up that's when people say now i want in on this but also because it's simply becoming socially acceptable there was a months long period where the price of going soared due to investors discovering its potential as a financial investment. in terms of bitcoin i'm very much in a speculative realm of i see it as more of a security than a currency. but behind i'm on 4 bit coin has also led to massive energy consumption to keep the system going to look at the server in china . one bit can transaction releases as much to you and to as

100000 credit card payments. list think about climate change and you say if you are eco friendly but if you think about how much energy is consumptive to produce to keep the whole system of bitcoin alive it can be compared with the whole country oh you've got me ok that's maybe your best argument most of the energy that is needed for the corn world is consumed in china about 65 percent and they are shutting down companies. that work with coal power and they would like to have more companies using hydro power and would its value continue to rise because bitcoin is limited in quantity and there's a certain cap on the number of bitcoins that can ever be produced but the demand for bitcoin hasn't been met there are

a lot of people who have not even invested in it yet it's likely big corn prices will continue to rise significantly over the next few years as more people become familiar with because. so now have i been able to convince my colleague of merits. not recognized by so many countries i think. it's more we. more clear what is it. and it 1st appeared more. and more. in terms of criminal. the problem was the climate change. then i don't mind. but. i believe. we do not have to believe in the old common currency our parents did it so we have a new. super cool currency that's ok.

was what. i guess the last word in trip to currencies has yet to be spoken but in the meantime you can try your luck by investing in them bitcoin if area near all they can all be loaded on to your smartphone in exchange for local currency and you can use them to buy many things online there are thousands of such digital currency switch makes it hard to see the wood for the trees so here's a look at how they actually work. 100 .

almost any. international bank. and 25 year 150. banks and. that's why i.

want. so what can you buy with that perhaps a piece of pot forget about buying a traditional painting or sculpture something that you can perhaps. at home on the wall or display in your garden come on it is so yesterday in today's online world to investing in artists also ditch a till welcome to the world of and if t. s.

that's known fungible tokens which are also stored via block chains and of course you can use crypto currencies to buy them now is this the future of the world or just a passing fad if you decide. that's the mona lisa seen in the movie for perhaps the most famous painting in the wilds worth around $700000000.00 . this is a mona lisa of the digital world a 10 2nd clip sold for 6600000 so anyone can watch it free online the cap mean you've seen before downloaded millions of times and sold for 6 $100000.00 this image sold to 0.5 feet or about $650.00 at the time just a short time later it was worth another $1000.00 i think that's the song well welcome to the world of n.f.c. digital objects twitter cryptocurrency. and to the oh well even

christie's has now joined the game putting the 1st of the f.t. up for. but hold on why would anyone pay that some friend can mean that they can share and download for free is it over scouting or is this the future of the world and it sounds going on fungible to. 100 will when something is known fungible it means it's not easily interchangeable because it's unique for scale take a dollar and if you have a $1.90 don't mind trading at with someone else's $1.00 note it makes no difference . the mona lisa on the other hand is the make. a piece of digital off his fungible it's not unique almost guess because it can be downloaded and copied to infinity. but when you create an f.t.p. for it a process called minting it becomes just the trace of legal thing to it and unique . how to put it simply and then have to contains a specific set of data because there's information stored on the token about to be

created the content for how much it was sold and the owner is that way the token represents a certificate of ownership. technology ensures that all the info is on changeable and for. pray for so long the digital object may still be all over the internet finally and seen by the city if we could take ownership for it. so. we enter the market right now it's it's really nice tara think a lot of people who are buying your investment. really early on they have a lot of it they don't want to cash about. just the way. i do think that the energy market in general has a lot more and. more are so sneakers trading cards on the market maybe small but in the digital not wild something and if piece of art revolutionary tool allowing digital artists to authenticate their work easily and in

a foolproof way for the 1st time and or sent to cities. you know the actual work itself even the physical painting isn't necessarily where it was held so you may have the most valuable op work in the world who are out being able to offensive hates it it can potentially have a value of 0 or some collectors may value it but generally speaking you're not going to be able to get it into a tree house likes of a b.s. or something like that the technology also allows artists to collect a percentage of their revenue every time there are one case settled that's not the case in the traditional markets and they can sell there are more direct. any artist with a computer and photoshop and dream can get on and start making money from their all and stop benefiting from it and it really doesn't power the individual and empower the masses to get involved with the art world in a way that has never really been done before when it comes to the n.f.c.

market as a whole and many involved in watching it good question they want if the potential of the markets and the high environmental costs of benefit things because they're now that creation and transactions consume you. amounts of energy plus some predict the sky high sums currently paid for certain items already waiting to. receive people understand the concept of earning their true assets more and more i think we'll just see this grow as a generation of people coming generation is going to grow up and they're going to be much more interested in buying something staged buying something physical teas are still pretty neat collectors and that they could become a global trend and gain wider appeal as an investment. by moving on to perhaps more pressing issues what could

a covert 900 test have to do with crypto currency or the verification off a vaccination certificate quite a lot actually there are a lot of instances where this technology that seems abstract to the average consumer is already at play in our everyday life so take a look. the day begins as it does for many others in germany with a coronavirus test. the pandemic is part of everyday life you need to take a test to go shopping see family or go to work if it's negative you have a sudden if temporary sense of freedom here it is macabre test result negative fortunately but it's such a certificate really trustworthy. can such documents be faked yes they can a quick search online soon reveals there's a flourishing market for fake negative test results it's not all that surprising it's easy to scan

a test report tweak it with image editing software such as photoshop printed out and write in any name you like another photoshop expert but that you and i can do. you purchase a start up in cologne devoted to ensuring data security and integrity its c.e.o. stefano. i sent you an email can you open it and we start with a little surprise. you say a negative test result thank you could you make it secure absolute can absolutely that's why we've developed our technology in a case like this we would attach a q.r. code to the result is a digital signal of off intensity. you can think of it as a kind of digital notarization as soon as the test comes out of the machine a microchip is generated and digitally signed by the lab. if you then present the results somewhere else it can all be checked and verified.

huber just worked on the certification of test results in the healthcare sector now it's developing a fake proof official german lexan nation certificate in corporations and i.b.m. using technology from the e.u. to foundation cryptocurrency developer based on the link. to is a readily accessible public block chain that fulfills all requirements. it's been built for precisely the kind of things we do namely the internet of things measurement data and such rather than transactions involving value. it's about the persistence of data. that means leave a little earlier unchanged data over a long period of time dominic sheena is a co-founder of field and develop this technology given a little surprised he. very convincing negative. of course he was joking so we both take another at that coronavirus test. and just like with block change we

verify each of this result or test some negative that's been confirmed by both parties trust has been established. the problem is that i can't trust the systems currently in place. i can't trust this piece of paper because the signature could have been faked. i can't verify that the text is legitimate. the same problem exists in the virtual world. the foundations mission is to make data in the digital realm trustworthy. and health should enable the secure sharing of medical data that was 1st authentic aided by responsible authority or doctor encryption ensures that they can be tempered with control of the access would be in the hands of the individual. however this only works if the data is actually authentic. as we've seen with photoshop you can easily change

a test report on paper. you can also manipulate data in the virtual world. change a couple of bytes and all of a sudden you have a negative test result even though you in fact tested positive. the aim of our technology is to encrypt and secure data so it can't be changed. and the process. authenticating and securing sensitive data doesn't sound very exciting but it's incredibly important in health care and in the burgeoning internet of things. now own encrypted currency is turning many people's lives upside down just imagine you own hundreds of millions of dollars worth of bitcoin but then you lose the password to access your account you try everything but every password you enter is wrong eventually axes will be denied for good your money gong sounds like

a film script but it really happened and to insult to injury to a computer programmer in our last report for today we share the stories off to coin owners and how bitcoin changed their lifes. i got to a point where i was at my absolute and. and i hit rock bottom. and all that we will replace the euro and other currencies it's the sound choice stay away from the other crap for now. the value of bitcoin has been rising rapidly for months. and for a long time have made a lot of money entrepreneurs invest as they're being taken most seriously in but then i met a pioneer it's the same the owner of the legendary bitcoin room 77 since 2011 you've been able to pay feel bagus and be

a hero with big calling. on your 53 years old and i'm the one who turned this bar into a big point home. for me are standing in front of the 1st venue in the world where bitcoin was accepted. to the bar got a certain amount of fame and cult status with. bitcoin and when i discovered bitcoin known among bitcoin is as the bitcoin moment you think my god it's finally here. it's time that used to be now we've got digital cash that's the. logical to say ok we want to accept this payment here to corner you put up a sign we accept big point here. back then no one knew what it was there were maybe one or 2 berliners online also interested so i met up with one of them here then he paid for his burger and beer and bitcoin and wow that was an incredible feeling. we didn't realize at the time but it was also an historic moment because it was the

1st time that i knew what i'd used to pay for something physical and a bricks and mortar store. became a meeting place for a big point founders from. another well known 1st generation stephan tomas. he lives in the us but he story is tragic he lost the past but to his digital bitcoin one it's in can a monkey access usenet less of me and. it was it was i didn't know what to do but as a developer and a tech person of course i thought about ways to restore the data there are all kinds of recovery options. i spent the next 2 to 3 weeks 24 hours a day trying out different possibilities even hard disk recovery which in the end i realized it probably wasn't going to work. now he has just 2 more possible add attempts ative already been used it's about 7002 because.

it's good doesn't know who did this is false it doesn't so there's still a chance that i'll get access just have to wait and see. but i'm trying not to get my hopes up too much so that i'm not devastated later if it doesn't work. i don't think it was random. the fact that i had such a low point gave me a lot of motivation and clarity about what i want to achieve in life. i take every opportunity to talk about bitcoin you know about financial access to let more people participate in the financial system. i'm grateful for this platform . yeah it doesn't reveal whether he still i respect kuwait but he says that me and demond is a big point ex-pat i was a youngster the guys who drive lamborghinis that's a narrative that i find completely uninteresting to me well that means having enough and that doesn't have to be a cost

a little not to be allowed for gaining numbers i don't need to have more than others what's so important with bitcoin it's not that individuals get rich but that everyone becomes better off in a year i. don't know dozens owns i invest. his but this it's closed. because i mean as a new system that's what he believes and. i thought wrong isn't personal responsibility is a huge topic which many understandably also shy away from. because they say a banker has always looked after my money and i was insured and i was supposed to do it myself. and i can understand why people say that's stupid under the law to be middle other people like me think that's fantastic it's something you should deal with. quite simply that the sooner the better when you feel that if a better. and that's all for this hopefully not too cryptic cryptocurrency edition of made why don't forget of course

you can always comment on all of our stories on one of our social media channels we always look forward to hearing from you in the meantime from me and the team in berlin thanks for watching stay safe.

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