Bitcoin: How Does it Work? (Roger Ver Interview)



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Roger Ver (Bitcoin Investor) joins Dave to debate Bitcoin 101. Bitcoin is digital cash used for safe and prompt switch of worth wherever on the earth. It isn’t managed or issued by any financial institution or authorities – as an alternative it is an open community which is managed by its customers. ***Subscribe:

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24 comments

  1. Show the power of Bitcoin / Bitcoin Cash and support The Rubin Report at the same time. Here's our wallet:
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  2. Hi dave, absolutely love you. Not for censorship purposes but delete this video you're promoting a bernie madoff ponzi scheme by having this charlatan on. Literally everything he says is true, the only problem is he's talking about a brand that isn't the one he's promoting. He is and I don't use "literally" lightly plagurazing Bitcoin. He literally copied bitcoin's protocols and philosophy stole the brand bought all the social media handles which bitcoin could not do intrinsically because its decentralized and has no owner and is trying to pump a copycat that is centralized. He's akin to Karl Marx, and I would not be upset if all the bad things in the world happened to him and only him.

  3. roger ver also known as bitcoin bacteria is spreading rumours ( his company named bitcoin cash is fully centralized and has viruses beware of its wallets http://www.bitcoin.com is fully centralized and along with other websites like blockchain.info )

  4. The wallet is completely under government control Bitcoin cash is not safe beware of roger ver this man is creating confusions.. the only true coin is Bitcoin.. not Bitcoin cash…

  5. Bcash Bcash Bcash Bcash Bcash Bcash Bcash

  6. FUCKING ESTI DE CROSSEUR DE MENTYEUR !! ET LE PIRE EST QUIL SE CROIT ,FUCKING MALADE MENTAL!!!!!!!

  7. Dave, great job covering this. More people need to really understand the merits of Bitcoin and it's mission to provide a free market alternative to what has been forced on individuals by monopolistic central bankers and governments for over 100 years (or more, depending on where you live). Most importantly, Bitcoin does not require authorization by a 3rd party to "open an account" or to send transactions. Transactions can therefore not be censored nor your account closed or funds confiscated. Bitcoin can be used by anyone with access to a smartphone and an internet connection. Participation in bitcoin is voluntary while participation in fiat currencies like the dollar is forced by law (try paying your taxes in gold).

    The first part of the interview was great. Roger is very competent at speaking to the basic benefits of Bitcoin. I would just like to point out some inconsistencies in Roger's representations as they have to do with Bitcoin and Bitcoin Cash:

    22:40 From the horses mouth: "Let's say you had 2 bitcoins exactly on August first, you know have 2 Bitcoins and 2 Bitcoin Cash." Even Roger acknowledges that what he now calls "Bitcoin Segwit" or "Bitcoin Core" is actually Bitcoin. The thing that was created on August 1 2017 as a result of a change in software by the people who support that coin is "Bitcoin Cash", sometimes referred to as "BCash" to avoid the obvious confusion.

    24:00 Another tortured admission: "The reason everyone's not using it [Bitcoin Cash] yet is that this Bitcoin Segwit [misnomer] version of Bitcoin managed to – long pause (to figure out how to carefully word it) – bring along all of the infrastructure of Bitcoin that's been around for you know 9 years now, 8 years now. Bitcoin Cash has only been around a couple of months since August 1 [2017]." Here Roger makes it very clear that Bitcoin Cash is the new coin, not the original Bitcoin. It should also be clear that Bitcoin is the coin that existed prior to the fork and that continues to exist today, which processes many multiples of transactions more than Bitcoin Cash. When people refer to "Bitcoin" they are clearly referring to original network and software, not Bitcoin Cash.

    That said, recently Roger has been representing Bitcoin Cash as "the real Bitcoin" including renaming terms on his website for example:

    Bitcoin (BCH)
    Bitcoin Core (BTC)

    In reality, BCH is Bitcoin Cash and BTC is Bitcoin. This is careful and intentional deception bordering on fraud, happening in what's already a complicated subject, intending to mislead new users.

    24:44 Excellent attempt to get Roger to steel man the Bitcoin (BTC) position. His response lacks the real reasons. In order to ensure maximum decentralization, in case of attacks from governments the developers (open source, voluntary team that manages itself via consensus) attempt to keep the base operating requirements of the software low so that people with limited bandwidth or funds, in a maximum diversity of regulatory domains around the world, can still run nodes and most importantly can confirm that their own transactions are valid using their own node (not requiring trusting a 3rd party – the whole point of Bitcoin). Roger is happy to reduce that insurance (provided by keeping requirements low) in exchange for processing trivial transactions for coffee (we don't need a trustless decentralized money for that) and to commit his trivial transactions to the resources of tens of thousands of redundant nodes across the globe. His fork was to take a different tack than that of the main Bitcoin network, to increase the operating requirements for everyone, also increasing the attack surface, which brings the side effect that most people will not be able to afford validating their own transactions. This is a form of centralization, the price of which we don't yet completely know.

    Bitcoin developers have taken a different approach which is to use the Bitcoin Blockchain, the ledger, as a very secure base layer, a clearing layer, to build other layers on top of. These other layers can include more transactions for lower fees, and can process transactions that don't need to be or that users don't want to have set in stone on the blockchain for decades. These other layers will use the Bitcoin blockchain to ultimately clear transactions, but the other layers will allow for aggregation of transactions which brings much higher scale, lower fees, much faster speed (sub second validity guarantees) and much needed privacy. These alternate layers are similar to what switching technology is to the internet, allowing local traffic to stay local and not use global resources bogging down the global network. This also bring added privacy since local transactions never need to be seen outside of the local group. To learn more look into the Lightning Network, which is a popular 2nd layer solution which is gaining momentum very rapidly.

    Roger's approach is tantamount to requiring all internet traffic be distributed to all users of the internet rather than being intelligently routed from a specific source to a specific destination (as it is today). His solution will work in the short term but cannot exponentially scale like a 2nd layer solution can, like the Internet has already proven.

  8. Just saying if you had interviewed Charlie lee you’re ratings would blow up ,everyone hates bcash and roger ver lmfaoooooo this is a joke interview

  9. Rubin, I like your show, but everyone watching this should stay informed.
    For anyone interested in why the Bitcoin community rejects Roger please take a look at the following article:
    https://hackernoon.com/thats-not-bitcoin-that-s-bcash-f730f0d0a837

  10. His foundation in the computer engineering is a bit shaky. First of all, Moore's law is not about hard drives, it's about microchips. Secondly, Moore's law is already dead.

    https://www.technologyreview.com/s/601441/moores-law-is-dead-now-what/

  11. @5:25 … or via a gigantic EMP or electro magnetic storm but that would kill most devices. It depends on whether or not you have a NWO government or you have to deal with 122 countries to track down people, too.

  12. First 20min were good

  13. wow he said saint kitts and am from saint vincent such a suprise yes bro nobody ever heard of us before

  14. bitcoin cash??? more like bitcoin trash

  15. Roger Ver is a genius. And BCH has to be the next upcoming Cryptocurrency to invest into.

  16. I started making quite good money using bitcoin. I would recommend this guide :https://bit.ly/2KoGoBl

  17. Bitcoin/Crypto is the biggest scam. Invest in Stocks or Forex. Crypto is Gambling not Trading…..,,

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