v4v https://getalby.com/p/bengriffiths⚡ Questions: How is the regulation of Bitcoin done on the open market? Why would a business use Bitcoin? Is it a scam? Can I trust it? How can it be money if I can't hold it? On chain analysis? theschoolofbitcoin.com Summary Bitcoin Regulating in International Market Ben and Karin discuss the regulation of Bitcoin in the international market, with Ben mentioning that Australia is lagging behind other countries when it comes to policy and regulation. They mention that the UK is leading the way with strong crypto-token laws, while other countries such as Europe and Switzerland have passed laws. Ben also mentions the positive aspects of the UK's approach to crypto- tokens, such as the creation of a digital assets system, which has led to a positive impact on the market. Lightning Network and Transactions Ben and Karin discuss the Lightning Network, a system that combines network cables, IP, and layers on top of Bitcoin's base layer. The Lightning Network allows instantaneous transactions within 1-2 minutes with no fees and a small transfer fee. The benefits of this system include speed, cost-effectiveness, and the possibility of passing on the cost to customers. They also discuss the challenges of using Bitcoin for cross-border transactions, mentioning that it can take up to seven business days for transactions. Bitcoin's Reputation and Security Ben discusses the reputation of Bitcoin as a scam and its reputation for being used by drug dealers and criminals. He mentions 10 applications with the US Securities and Exchange Commission to allow institutional investors to buy Bitcoin at the spot price, which will open up pension forms in the US. Karin inquires about Bitcoin's security and how secure it is, mentioning a recent event called Facebook Unmasked. Ben suggests using a good source like Huddle Hoddle, a peer-to-peer exchange that holds Bitcoin in escrow, allowing users to buy and sell it directly and transfer money to the Bitcoin address. He also recommends the Australian Bitcoin Association, which advises on which exchanges to use. Cold Storage and Bitcoin Mining Kieran and Ben discuss the issue of cold storage and Facebook data harvesting, comparing it to the Bitcoin network, which is peer-to-peer with no centralized collection of data. They also discuss the concept of money and how it can be defined as something you can physically hold, with Ben explaining that people who think they have cash in the bank can't hold it. Karin asks how money can be held, and Ben explains that it can only be found on the public legend, but they have no idea where it is. Visualizing Bitcoin Transactions and Blockchain Ben, Karin, and Gordon discuss a visual visualization of Bitcoin transactions and its impact on the blockchain. They explore the use of the blockchain, its limits, and how it affects the value of bitcoins. They also talk about the importance of understanding the limit and its effect on the Bitcoin price. Bitcoin Holdings and Market Behavior Karin and Ben discuss data on short-term and long-term holders of bitcoin, focusing on their buying and selling patterns. They discuss the importance of understanding how the asset is maturing and how it can be used to learn from past mistakes and make changes. They also talk about the psychology of the asset, such as the need for careful planning and understanding of how to react to volatility in the market. Understanding Bitcoin Supply and Demand Ben and Karin discuss the importance of understanding the supply and demand of Bitcoin, focusing on different types of Bitcoin exchanges and their impact on the price. Ben shares a chart showing how much Bitcoin is held on various exchanges, such as Btcincit, Coinbase, and Btcoin, and explains that it can be interpreted in different ways, depending on how one interprets the data. They also discuss the impact of the supply shock on the Bitcoin price, which can occur when the supply is increasing and decreasing. Mining Session and Benefits Ben, Gordon, Karin, and Kieran discuss the usefulness of a third session on mining, with Ben suggesting a follow-up session in a couple of months. They agree to send slides for further discussion and discuss the importance of having a resource to go back to after the event, such as Beesos, and the benefits of using Powerpoint for learning and sharing knowledge. Kieran shares his experience with a scam involving Kevin Rudd promoting an investment platform on TV, which has since been scrubbed from the Internet. They also discuss the creepy nature of celebrities promoting scams on social media and the difficulty in knowing who to trust. ... https://www.youtube.com/watch?v=ljVRAEfDN-0

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