Bitcoin Q&A: The rules of Bitcoin (part 1) [TIOM2-14]

This is the first part of the answer to the question: "What are the rules within Bitcoin?" What makes a transaction "correct" or "incorrect"? What distinguishes the rules for transactions in Bitcoin from the rules for transactions done through traditional financial institutions? Listen to Part 2 here: https://archive.org/details/TheInternetOfMoney-Volume2/2-15-BitcoinQA_TheRulesOfBitcoinPart2.mp3 This is part of a talk which took place on July 7th 2017 at a Bloktex event hosted by the Wisma BeeOn Group in Kuala Lumpur, Malaysia: https://antonopoulos.com/event/the-future-of-money-kuala-lumpur-malaysia/ Watch the full talk here: https://youtu.be/HaJ1hvon0E0 RELATED: Bitcoin: Where the Laws of Mathematics Prevail - https://youtu.be/HaJ1hvon0E0 Forkology: A Study of Forks for Newbies - https://youtu.be/rpeceXY1QBM SegWit, scaling, and consensus - https://youtu.be/Jc7mrR6AAto Fee market, SegWit, and scaling - https://youtu.be/zxt-FLzZPhg Scaling is a moving target - https://youtu.be/pT9kJq_Ogrk The scaling rites of passage - https://youtu.be/rZi86_ovB3Y What is the biggest threat? - https://youtu.be/1-XUbH1F0Os Is Bitcoin a democracy? - https://youtu.be/TC3Hq76UT5g Governance trade-offs in decentralised systems - https://youtu.be/dtwaW79Fj7c Bitcoin & Blockchain in Norway - https://youtu.be/5ODDCx6VL2Y The end of vampire-squid financing - https://youtu.be/yyXOQG5iNWo Rules vs. Rulers - https://youtu.be/9EEluhC9SxE The Currency Wars and Bitcoin's Neutrality - https://archive.org/details/TheInternetOfMoney-Volume2/2-07-TheCurrencyWarsAndBitcoinsNeutrality.mp3 The Killer App: Engineering the Properties of Money - https://youtu.be/MxIrc1rxhyI ABOUT Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin. Follow on Twitter: @aantonop https://twitter.com/aantonop Website: https://antonopoulos.com/ He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. Subscribe to the YouTube channel to learn more about Bitcoin & open blockchains! https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron: https://www.patreon.com/aantonop Read more: “Mastering Bitcoin” - https://www.bitcoinbook.info/ “The Internet of Money” - https://theinternetofmoney.info/ Originally published as a YouTube video: https://www.youtube.com/watch?v=VnQu4uylfOs&list=PLPQwGV1aLnTu0KFDbHk4AUiiyce0xLX7p&index=14