hey miles here miles Bechtler calm and
in this video we're going to talk about
bitcoin 2.0 potentially blockchain 2.0
so last week in a video I dropped a
little bit about Bitcoin and how it
works to help you understand what this
technology that's coming out and
catching a big buzz actually is today
we're going to the next level which I
consider to be the next evolution of the
cryptocurrency and we're gonna be
talking about aetherium now aetherium is
off to fill the gaps where Bitcoin
dropped off originally Bitcoin wanted to
come out as programmable money but due
to the fact that there's no leadership
team there's different factions of
people within bitcoin who can't agree on
what direction to take Bitcoin aetherium
came out of this with a leadership team
and a vision in order to create truly
programmable money so what's the big
difference between
etherium and Bitcoin right there both
blockchain based technologies they run
on the blockchain there they both have
their own currencies right they ether is
the currency of aetherium the real
difference is last week when I was
talking about how Bitcoin is a
distributed ledger or essentially like a
distributed database theory 'm is
essentially a distributed supercomputer
so we're a database is able to kind of
do ins and outs of numbers and keep
track of things like a ledger a computer
is truly programmable and that's what
aetherium is bringing to the table here
and in my opinion that's what makes the
potential utility value of aetherium at
least 10x that which is Bitcoin
aetherium has a full Turing complete
language built in to where anyone can go
program smart contracts digital or
excuse me
decentralized applications and other
things I'm not my goal here just like
the last video is not to get super
technical and super deep I want to help
you understand this from kind of a broad
perspective perspective from a 30,000
foot overview so you can understand what
these technologies are so as you see
movements and people talking about them
you're clued into the technology behind
these names so back to a theorem right I
mentioned that it's a turing-complete
programmable supercomputer
so whereas Bitcoin is a ledger if
theorem is a supercomputer everyone
running aetherium is effectively running
the supercomputer that can be programmed
by software developers and they're able
to program smart contracts or digital
applications and a few other things but
these are the easiest ones to grasp and
this is really what makes it magic so
let's dive into these what's a smart
contract a smart contract is a super
simple piece of code that to use a
recent example there was a recently a
big boxing match the the Conor McGregor
Mayweather fight essentially a smart
contract would allow someone to go
program on to etherium right saying if
Conor McGregor wins then do this if
Floyd Mayweather wins then do this it
allows two parties to come into an
agreement put that agreement on the
blockchain and then when certain
requirements are met the blockchain
knows to pay out in the direction of
what was met okay so if the gambling
kind of example is super simple if you
and I chose different sides on that
wager we both chose to wager one ether
coin we put that all on the smart
contract it would essentially be holding
each of our coin in ether in escrow
right and then once the script read once
the excuse me not the script but the
actual smart contract receives the data
of who the winner was the smart contract
knows to payout the winner of that bet
now ether is something I mentioned ether
is the currency that runs aetherium now
not only is it a means of exchange and
that kind of gambling based example that
I mentioned but it also puts a situation
together where the ether is what's paid
out to all of the individuals who are
running the nodes of aetherium right so
if theorems this gigantic distributed
supercomputer that means there's
individuals all over the world running
aetherium and they need to get paid and
they get paid a tiny sliver off of every
smart contract in
something called gas but you don't need
to know too much about that that's going
a little bit deep let's talk about the
decentralized applications because what
they do is they actually take that basic
idea of a smart contract and they build
it to the next level and this is where
things get really really exciting
so think of it as a normal web-based
interface or a normal app interface and
I'm in this app and I go to purchase
something in the app and behind the
scenes right now that purchase goes
through a centralized organization right
there's a bank involved and there's a
corporation involved and when my payment
is received by them I get the app that I
purchased and I'm able to download it if
you wanted to you could very very simply
replace let's keep the app interface the
same right
but when I go in to purchase I pay in
ether and that ether goes out and it
says to the distributed supercomputer
that this person paid and then it can
pull that app straight to my phone
essentially bypassing the centralized
banks and essentially bypassing the
centralized corporation obviously
whoever created that app that I
downloaded would receive the funds but
it gets even better than that I want to
use an example of like a music streaming
app because we all stream music right I
don't care if you use Spotify or or even
if you stream YouTube right or if you're
on app and or of your app and or a
friend of Pandora fan excuse me
so let's say you're running a an audio
app on your phone and instead of all of
our funds going to the corporation which
is what happens right now right so if
you're a paid subscriber to Pandora
you're paying Pandora which is a
centralized corporation or if you're not
a paid person and you're watching
advertisements instead all of that
revenue then goes to Pandora and now you
and I are there to trust we have to
trust that Pandora is doing the right
thing and actually paying out the
artists whose music we love imagine this
imagine an app that's running on your
phone and you're able to pick your
playlists and shuffle things up and add
your playlists or use some that kind of
technology that runs Pandora right it
can have a suggestion engine in there so
the user interface from your end could
be exactly the same and you can have a
budget and you could say every month I'm
paying $9 right
and what the smart contract inside of
that distributed application could do is
it could actually spread your funds out
directly to each of the artists that you
listen to so if you put one artist on
repeat and you just keep listening to
them over and over and over might be 2
cents a song might be 4 cents a song but
it could literally bypass the
corporation which has offices employees
high paid CEOs it has investors to pay
back it has rent it has utilities it's
got a lot of operating expenses that
effectively cut into the payout for the
person you just want the music right so
it's a way of potentially building these
applications to where that artist would
actually get the bulk of the proceeds
obviously whoever creates that gap that
D centralized application they would get
a cut and the people running that
distributed network who manage and make
sure that each time that payment goes
out it gets split up effectively and
that gets kind of sealed up in the
blockchain they all would get a tiny
tiny tiny sliver of every time those
funds moved this is where it gets really
exciting to me because the ramifications
of these kinds of decentralized apps are
that every single industry that's
already been disrupted has the potential
of being disrupted again so Airbnb is a
really good example right now right so
Airbnb just disrupted the hotel industry
and has created a behemoth of a
corporation they are raking in profits
and they are paying out to investors fat
ebo body I'm just gonna call it that
right like they're doing really darn
good imagine a situation where there's a
special lock right it's a smart contract
enabled walk on the door of a rental
property I go into my app I'm looking
for a room in a town that I'm gonna stay
in I find one I click pay my money goes
on to the blockchain at this point
through ether I put ether into the smart
contract the smart contract then gives
me a code to open the door I go up to
the door I punch in that code in the
smart contract enabled lock when I open
that door and get access to the property
the funds are then distributed to the
owner of the property directly
we have just bypassed the corporation
now in this example it's a little bit
incomplete right because there are
benefits to Airbnb being an intermediary
right now right they hold a big
insurance policy for every home that's
involved in it
there's customer support there in case I
have a dispute with an owner if I show
up and it's not what I said it was so
these ideas are still at like a really
really really light protocol layer right
they're not being developed yet and
that's what fully it kind of excites me
about aetherium is that it's right now
being positioned and it's growing
effectively with developer tools no
one's really creating these user
interface solutions that I'm talking
about this is a little bit of vision or
futuristic kind of idea that we're
working with what's happening now is
developer tools are being created to
help developers and programmers build on
this kind of decentralized application
on the etherium supercomputer right it's
a full programming language so the first
thing we need our programs to be written
that allow us to easily make smart
contracts so when I decide that I want
to exchange something of value for you
let's say you want to join my membership
program which I don't actually have but
let's say you want to join my membership
program maybe that could all run with an
aetherium back-end we could run it on
the blockchain when you go through and
purchase access aetherium the actual
distributed network of computers that
run aetherium that code could say yep
they paid give them access to the
website then you get access to the
website you're in I receive the funds at
that point we have bypassed stripe the
merchant account the banking fees etc
etc this is why I really think that
aetherium is super powerful there's more
to aetherium that I haven't even gotten
into the fact that it's an e rc 20 token
and what this kind of means really
briefly is that the etherium token is
built in a way that other tokens can be
built and made to run on the etherium
supercomputer this is a big part of what
is creating the huge explosion of icos
or initial coin offerings and there's
coins coming out to do all kinds of
different things there's gambling coins
coming out to create new gambling base
wet
sites that are gonna have smaller
margins from the house which means more
of the bet goes back to the user right
there's less of a cut there's less of a
take for the house so in theory they can
have better odds and they could attract
more gamblers through those web sites
but they're also going into all kinds of
interesting finance into big mega
finance they're even looking at how to
do ETS it could be really really
disruptive for the financial world but
it goes way deeper just like I was
talking about with a music example or
the rental the Airbnb example the
possibilities are limitless and in in
aetherium zweite paper which is kind of
their guiding document it's the this is
where we're going document they said
that there's four phases right we're in
the second phase and it's about to
upgrade to the metropolis phase which
will happen probably sometimes next week
and that's when all the big developer
tools and the big development stuff
comes out enabling developers across the
world to build these DAPs and to build
these smart contracts they can receive
kind of value from people using their
gaps that sparks the revolution their
fourth phase is serenity and I find this
to be really fascinating they believe
the kind of goal of aetherium in its
fourth and final phase is to literally
disappear so you and I go about our
daily kind of routine we buy things our
phone we use apps on our phone we
interface with websites and we don't
even realize that the etherium
blockchain and the etherium network is
powering everything we do we're still
paying in dollars we're still doing
everything the same way we're doing
right now the user experience for us is
the same but what happens is the back
end runs so much more efficiently and
it's decentralized so control is not
hoarded by corporations and mega banks
this my friend is extremely powerful the
last thing before I let you go that I
love about aetherium is it has a kind of
a leader right there's this kid white
Alec he's like an absolute boy genius
Wonder he was really into Bitcoin for a
while he wrote the white paper there's
now a gigantic foundation around him
he's meeting with world leaders and
business leaders to see how people are
able to integrate aetherium there's the
right now there's like an ethereal
Enterprise Alliance which is a bunch of
corporations like Cisco IBM and
who are all working together to
understand how to leverage this etherium
blockchain technology in their
businesses to make their businesses run
better and the fact that there is
literally a leadership team who is fired
up their focus their goal is making this
the best there is Bitcoin doesn't have
that Bitcoin was invented by an
anonymous individual or group of
individuals and since then it's just
been in the public's hand it's a great
libertarian example but what's happening
is people can't get together and come up
with a great idea on how to move this
thing forward
whereas aetherium you have a core team
they're funded they're fired up and
they're able to get together and say
this needs to be implemented boom it
gets done they move forward this needs
to get implemented boom it gets done and
they move forward to me aetherium is
probably one of the most exciting things
going on in cryptocurrency
I definitely am holding both etherium
and Bitcoin this is not investment
advice all I'm trying to help you
understand is what is going on and what
the core technology is behind this that
has a chance to help you in your digital
business in the future and potentially
has a chance to disrupt many many many
aspects of our world and I think this is
not going away I don't think this is a
speculative bubble in any way shape or
form I don't know where the pricing and
value fits in if we're anywhere near
what would be a good long-term value but
what I do see is that the technology
that is coming out is far superior to
the way we're doing it because it
decentralizes everything it removes
those massive core controls which can
effectively lower the margins required
for these businesses these autonomous
organizations to run and therefore they
can give you the end user and me the
business owner better deals by bypassing
the traditional system that has had a
lock on control on everything that's why
I think it's so revolutionary and that's
why I think it's going to really really
take off and gain massive adoption so if
you haven't heard about a theorem yet go
do a little bit more research I think
it's the most exciting thing going right
now I'm gonna get more into icos and
what's being built on the ERC 20 tokens
in a future video but at this point I'm
gonna leave it here I wanted to give you
that breakdown of what a theorem is
because I do believe it's blockchain to
I do believe it's Bitcoin 2.0 its price
does not reflect that right now but I
think there's a lot of value that's
going to be moving into the etherium
network over the next few years as they
continue to add on great features and
developer tools because ultimately
having a big huge group of developers
all making really cool apps that you and
I want to use on our phone to make it
easier for us to do what we want to do
and less expensive for us to do what we
want to do that is an absolute recipe
for success this all runs the etherium
Network all runs on the ether currency
so I'm looking at the whole like rising
tide floats all boats situation right if
we're all using a theory and based smart
contract based digital kind of
decentralized applications and those all
run on ether seems to me logically like
there's a reason for either to become
more valuable in that kind of a scenario
I hope this has been informative if you
have any questions feel free to hit me
in the comments below if you enjoyed
this video give me a thumbs up here I'm
gonna get out of this incredible
sunshine that just popped in out of
nowhere but I thank you very much for
popping in I thank you for watching the
video if you made it to the end you are
a hashtag badass good on you leave a
comment below let me know you made it to
the end as a hashtag badass I love it
and I thank you again for your time
looking forward to connecting with you
on the next video
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