Subtitles section Play video Print subtitles Welcome! My name is dr. Münzmacher. I am an expert in the new digital currency, bitcoin. Unlike euros, dollars, or other monopoly money, bitcoins are not created out of thin air by a central bank. That means no inflation. Beleive me: we had lots of inflation here in Germany - and we never want that again. So, if there is no central bank, where do bitcoins come from? Well, everybody can create bitcoins by using a special software. But it's not easy, just like finding a gold nugget in a ton of earth. I would love to tell you all the details of the cryptographic algorithms behind it. No! Please don't bore your audience. No more, Herrmann! I just want to explain the advantages. The amount of bitcoins is limited - that's why there can never be a bitcoin inflation. It's very cheap to transfer bitcoins from one part of the world to another, just like sending an email. Bitcoins are like cash, so if you want to pay for something, without any data-hungry monster knowing about it, bitcoins protect your privacy. But don't forget to pay your taxes. But the fact, that bitcoins are like cash, has one disadvantage. If your computer crashes, all your bitcoins will be lost. That's why we in Bitcoin Deutschland are offering a secure account for your bitcoins on our servers. Our platform is very safe and reliable - German technology. The main purpose of bitcoin.de is to buy and sell bitcoins from other users - not only in Germany, but worldwide. And our software developers are working hard on more great tools for the future of money. And then we will rule the world! No, stupid, those times are over! We want our customers to be happy, and money to be sound and trustworthy. Just like us...
B1 bitcoins inflation central bank germany software de Bitcoin - The Movie (How Bitcoin.DE works) 252 22 Chuan Zhe Lin posted on 2013/05/18 More Share Save Report Video vocabulary