Andreas Antonopoulos
👤 SpeakerAppearances Over Time
Podcast Appearances
And you can do that in many countries around the world.
How can people find the BTM nearest to them?
Oh, there's lists of Bitcoin ATMs.
You can just search on Google Bitcoin ATM near me and you'll find lists online.
third way is local traders basically this has started as not just formal exchanges and brokerages which you can also use but they're more complicated they take verification and take a while but local traders will will trade in cash and you if you want small amounts just to try it out as an experiment you can meet someone at starbucks obviously you have to be careful just like if you were going on craigslist with a bunch of money you don't want to go to a dark alley and trade in the middle of the night but
Go to a public place with a bit of cash, say $100, and someone will sell you Bitcoin at a Starbucks.
Well, this is a tricky question because one of the main purposes of these cryptocurrencies and the architecture is designed to decentralize control over money.
That means you hold your own crypto.
You don't put it in the custody of anybody else.
We're removing intermediaries.
So what are these crypto funds doing?
They're basically holding crypto for thousands of investors on their behalf as custodians.
That's business as usual.
That's traditional banking only now with a new currency.
The problem with that is that if they hold the currency of a thousand customers,
Their security has to be a thousand times better than each of the customer's security in order to make sure they don't lose that money or have it stolen from them.
And most companies can't do that.
Yeah, it's very easy to hack into the computers that are holding the keys and take them.
If there's one computer which has a thousand times more value on it, then it's a thousand times more juicy of a target and you need a thousand times better security, right?
If I had to hack your wallet and Joe's wallet and Mary's wallet and Katie's wallet in order to do that, in order to get a thousand bucks at a time, not really worth it.