tv Made in Germany Deutsche Welle April 29, 2021 8:30am-9:01am CEST
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 is are they worth the ride our topic today are 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 that was a tiny said back but then bitcoin bounced back again 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 and 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 this client's viability let's consider the process. of thing coin is revolutionary so there is no fear of inflation because there's 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 big corn is still full of beer 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 admitted in the 1st years after its launch in 2000 its value increased only gradually and its image was spent think about how many beat quiet strength actions
were used for illegal for example drugs where all of the criminals use bitcoin but in the world something is changing countries like germany do forced bitcoin users 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 bitcoins technology proved stable and the price even hit $102.00 euro's crash was just around the corner some point in price to cryptocurrency ahead bitcoin stolen several $1000000.00 euro its worth was last year it's also not related but think about it if someone would steal your money take a look at your kraus beat clients who are already a stolen in the post where is the guarantee that it will happen to your beat clients actually the infrastructure of 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 there is those people who do not care to have it in the safe place interest must prove the books that after a few celebrities support the venture. rep i can hear west and think of us brothers. and it was the big question. of course in the bitcoin isn't good for everyday purchases let's listen to my expert. 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 but 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 it is time to get
some help and some support it's going pretty well already. leave our managers a 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 the speculative realm of i see it as more of a security than a currency. but behind them on for a bit coin has also led to massive energy consumption to keep the system going just look at the server in china. one bitcoin transaction releases us much to you as $100000.00 credit card payments.
let's think about climate change and you said you are eco friendly but if you think about how much an artist consumptive to produce to keep the whole system of bitcoin alive it can be compared with the whole country you've got me ok maybe your argument most of the energy that is needed for the corn world is concerned in china are about 65 percent and they are shutting down companies. that work with coal power and they would like to have war companies using hydro power and would its value continue to rise because big coin is limited in quantity 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 because when prices will continue to rise significantly over the next few years as more people become familiar with because. now have i been able to convince my colleagues of merits still not recognized by phone many countries i think never it's more we get. more clear what is it about. and it 1st. it's more. that it's more control terms of criminal. the problem was the question of changes. 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.
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 well they can all be loaded onto 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 .
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 hold on the wall or display in your godden come on it is so yesterday in today's online well it's investing in artists also ditcher till welcome to the world of and if t. s.
that's long 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 you decide. that's the mona lisa seen in the room for perhaps the most famous painting in the world worth around $700000000.00. this is a mona lisa of. a 10 2nd clip sold for $6600000.00 that anyone can watch online the cap mean you've seen before downloaded millions of times sold for $600000.00 this image sold to 0.5 either about $650.00 at the time just a short time later it was worth another $1000.00 think that song well welcome to the world of n f t's digital objects talked with cryptocurrency. and
oh well even christie's has now joined the game putting the 1st of the f.t. up. but hold on why would anyone pay that some friend can mean that they can share and download freeney is it over scouting or east is the future of the world and if t. sounds been on fungible to no known fungible when something is known fungible it means it's not easily interchangeable because it's unique or scales take a dollar and if you have a $1.00 note you don't mind trading it with someone else's 1 dollar 90 it makes no difference. the mona lisa on the other hand is the make. a piece of digital all jews fungible it's not unique or skin test because it can be downloaded and copied infinitely. but when you create an f.t.p. for it a process called tonight single minting it becomes just that trace of the authentic and unique. how to put it simply and if you contains a specific set of data class there's
a way to mention stored on the token about who created the content for how much it was sold and who the owner is that way the token represents a certificate of ownership. chain technology ensures that all that info is on changeable and for. pray for so long the digital object may still be all over the internet buying the n.f.t. you buy the city if you could take ownership for it. so who is buying these things . and if the market right now it's it's really a new standard think a lot of people who are buying your investment. really early dogs have a lot of it they don't want to cash about. just the way but. i do think that the energy market in general has a lot more in common. are so sneakers trading cards the market may be small but in the digital art world something and if t.v.'s are revolutionary to
allowing digital artists to authenticate their work easily and in a foolproof way for the 1st time and all scientists it easily when he announced the actual artwork itself even the physical painting isn't necessarily where it was held so you may have the most valuable out work in the world who are now being able to offend skates 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 abuse or something like that technology also allows artists to collect a percentage of their revenue every time there are plug is something 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 a dream can get on and start making money from their often start 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.t.
market as a whole many involved and watching it such caution they warn of the potential for a lot on the markets and the high environmental costs of benefit takings because for now that creation and its actions consume a lot. amounts of energy stocks some predict the sky high sums currently paid for certain items are a bubble waiting to. understand the concept of earning their true assets more and i think we just see this group as generation of people coming generation is going to grow up and they're going to be much more interested in buying something they are buying something physical. still pretty me for collectors and they could become a global trend and gain wider appeal as an investment. now moving on to perhaps more pressing issues what could
a covert 900 test have to do with crypto currency or the verification of 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 the cover test result negative fortunately but is 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 even i can do. you purchase a start up in cologne devoted to ensuring data security and integrity it's the old stefano. i sent you an email can you open it. we start with a little surprise. you say we're negative test results back you could you make it secure absolute going to 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 seal off intensity. you can think of it as a kind of digital notarization as soon as the test comes out of the machine. it is generated and digitally signed by the lab. if you then present the results somewhere else they can all be checked and verified.
you purchased worked on the certification of test results in the health care sector using technology from the e.o. to foundation cryptocurrency developer based in berlin now it's developing a fake proof official german vaccination certificate in cooperation with ivy. yota 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. unchanged data over a long period of time. is a co-founder of field and develop this technology given the little surprise. very convincing negative. of course he was joking so we both take another at the coronavirus test. and just like with block change we verify each other's result.
that's been confirmed by both parties trust has been established. as probably 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. or not the same problem exists in the virtual world. the foundation's mission is to make data and the digital trust with. any health should enable the secure sharing of medical data that was 1st offend to catered by responsible authority or doctor encryption ensures that they can't be tampered 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 end of our technology is to encrypt and secure data so it can't be changed. and. 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 your 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 at insult to injury to a computer programmer in our last report for today we share the stories off 2.0 nurse 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 place the euro another currency and it's the sound choice and stay away from the other crap for now. 'd the value of bitcoin has been rising rapidly for months. and for a long time have made a lot of money techies 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 ream 77 cents 2011 you've been able to pay for bagus and be a hero with
a big calling. on your 53 years old and i'm the one who turned this bar into a big point home. 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. my god it's finally here. it's time that used to be now we've got digital cash. logical to say ok we want to accept this payment here and you a bit corny put up a sign we accept big point here. and then 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. i didn't realize at the time but it was also an historic moment
because it was the 1st time that i knew when i'd used bitcoin to pay for something physical in a bricks and mortar store. became a meeting place for a big point fans from. another well known 1st generation big fan tomas. he lives in the u.s. but his story is tragic he lost the possibility his digital big point one it's and can they learn to access usenet less of me and. it was it was my home so 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 in the end i realized it probably wasn't going to work. now he has just 2 more possible good attempts ative already been used it's about 7002 big points.
this kid doesn't give us a chance it isn'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. low points 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. but not to give 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 use a platform. yeah it doesn't reveal whether he. actually sat me into mondas 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 castle it doesn't have to be
a law or gaining number 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 a dozen zones i invest. his her 6 case too. big cohen 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 we should deal with. quite simply that the sooner the better when you read of. and that's all for this hopefully not too cryptic cryptocurrency edition of made
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