Pulling back the crypto curtain
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- Опубликовано: 21 ноя 2022
- Long-time TV actor-turned-student of fraud, Ben McKenzie has teamed up with journalist Jacob Silverman to unravel the mysteries, and absurdities, of the crypto industry. In this discussion, they talk about their adventures in crypto's darker corners, how much real money is actually sloshing through the system, and whether anyone will survive the latest crypto winter.
6:23 As a computer scientist, a developer, and a tech lead, I can agree with what he's trying to convey here, and it baffles me, after all these years how this alleged the greatest amalgamation of old technologies -- we call blockchain now -- it is still stuck on not being able to deliver on three original pillars they had set to build their system on.
P.S. I'm in crypto precisely for the first point that was brought up: The casino aspect of it. I'll tend to look at it as an opportunity to siphon money from others little by little as opposed to look at it as a long term investment. Of course, I could very well become a victim of my own plan, thusly, I only invest what I can afford to lose.
blockchain tech dates to 1991. the first public blockchain was published in new york times classified section for over 20 years. its much like 3d printers they are not new but instead been around since the 1980s.
Buying into crypto is like buying a cat in a sack. You exchange real hard earned money for imaginary coins, basicaly you are giving money to people behind the scam, those are the ones actualy getting rich here.
You're assuming everyone works hard for the money they have. Seriously though, smart contracts will indeed effect the finacial system in the long run. If you're not sure what that is, then perhaps look into the thing you are generalizing about.
Buy crypto so you can use terms like blockchain, decentralized and to the moon... you can also hate on those big, bad banks and greedy corporations... if you don't get crypto, it's because you're stupid and crypto bros are smarter than you
@@Mila-ie5bw Merry Christmas & a happy new year
@@loficathedral4584 smart contracts is a utility but not a game changing technology that is going to change everything. It has almost nothing to do with the price of crypto.
@@aztronomy7457 @AZtronomy Sounds like you're projecting a bit. I didn't say it would change everything. Big institutions like Samsung, Visa, Google & Amazon though are mainly investing into crypto for smart contract technology, and not so much the hype you have rolling around in your skull. 🤡 Not even sure what the purpose of your comment was.
Why does Ben's voice turns into a helium like voice at the beginning? Weird.
The best presentation of the summit!
Yes. I really loved the smugness. It spoke to me.
I was into libertarianism for a minute and it's great on paper (as is all economic and social systems) but in practice it mostly doesn't work because it has people in it. Sure the government staying out of your business and life sounds great but it also leaves open door for crooks, scammers, organizing crime and various neerdowells. Then everyone looks to mommy government to fix things and kiss the boo boo. Everything needs regulation because from fiance, to sports, to money because humans we obviously can't regulate our selves.
I don't buy for a minute anyone says "buyer beware, I don't need government to save me." Bull shit! You too, when you lose all your money on monkey giz coin you will be writing your congress person for help. Everyone is a libertarian on the up swing and a socialist on the down.
I was into libertarianism too. Then I turned 10 and my dad punch me in the tooth 😅
wrong. the best way to have a clean and most un manipulated market is for it to be a free market with limited oversight by the government. Why else would btc be the leading asset in this market after all this time if markets weren't self regulating? idk why anyone would ever even listen to this mckenzie bozo, dude lost and now he's salty.
Why is the audio so bad? Why am I hearing so many other voices from the crowd on this video?
You can't help suckers , I mean people , who don.t want to be helped.
Crypto people think they're disrupters and pioneers. They're definitely disrupters. Pioneers, they are not. They refuse to believe they can't get rich quick. But they can't. Nor should they.
Ive been into crypto for years, I never thought I would get rich quick, but it has payed off
@@BitRoel Jake4919 and Ben never did their reserch.
I agree with the messaging here
... it is a fact of life, greed is in each of us to a various degree, so , snake oil market will stay alive ...
I'm waiting for the Ben Mckenzie conspiracy theory.
What’s the relevance of the man being removed from his land? How is that related
to Bitcoin?
who cares. bitcoin is a fucking scam. That's all that really matters.
Celsius, blockfi etc are NOT crypto. They are centralised platforms for holding and playing with your coins. Nothing to do with bitcoin. Bitcoin is decentralised and you should hold your own keys.
Did you even listen to the interview?
Then how do you transact or sell?
When the majority of Bitcoin is held by a fraction of hodlers, it’s not decentralized.
@William Wilson bitcoin can't be controlled or confiscated and more can't be created
@@chris4466 bullshit. 51% attacks are possible on bitcoin's blockchain and have been used successfully on smaller blockchains. You're just straight out wrong on that.
Consensys
The problem with this conversation is that they are assuming that the legacy banking system was super awesome to begin with - obviously not the case. The banks are already using this technology internally - we the people should have the right to utilize it as well.
Great discussion! Very well answered and very well questioned
my red flag...how do you buy crypto? With fiat money. WHat do you get if you sell Crypto in order to buy something like a house? or go to the supermarket to buy milk? Fiat money. Unless you go through a private buyer whos WILLING in this climate to sell for crypto that was worth $70K and is now worth $16K and god knows what its going to be worth next year lol. If it was a currency youd be happily trading it for consumer goods and not losing ANYTHING at all.....you be EARNING iT and trading it. You cant regulate it if all these people live in the Caribbean lol.
Could you buy a can of soda at 4am with gold?
@@loficathedral4584 you know what Crypto is backed by? 14'500 shitty overworked PC's and warn out Graphics cards calculating stupid pointless mathematical equations that mean NOTHING outside of the blockchain space, they are just complex lucky draw equations. Thats all the blockchain runs on and 52% of them? are N/A on the TOR network and no one knows where they are lol
@@nyranstanton203 You didn't answer the question. You did however take time to edit your reply, and still manage to misspell a simple four letter word. Thanks though for the effort.
@@loficathedral4584 you probably could, be just like bitcoin, someone out there somewhere will probably accept it for a soda at 4am.
@@nyranstanton203 Sounds like you're saying all value is subjective, which sorta undermines that novel of a comment you wrote.
It’s been a long time and the only reason someone wants bitcoin is the hope to sell it to someone else for more for. If bitcoin were so great it wouldn’t be that difficult with current technology to find a use.
The only reason you buy Apple stock is to sell it to somebody else in the future for more money
Thank you Ben and friends to try and keep the price low so I can load the boat.
Drive the price real low for us so normal people can ride it back up again when the economy recovers!
@@loficathedral4584 I am waiting for it to crash... 🚀 🚀🚀🚀Schadenfreude
@@Mila-ie5bw Wanting people to lose their money is the sort of mentality actual scammers have, but okay. Hope things turn around for you & you have a good Christmas & a wonderful new year
@@loficathedral4584 Nonsense. Crypto is nothing but redistribution. It is all a gamble of buying low and selling high. And for someone to gain money, someone else has to lose money.
@@stenergut9661 Thanks for buying high & selling low for the rest of us
INDEPENDENT OF FEDERAL REPUBLIC OF BIAFRA
A greater fool scam.
That must be why Samsung, Visa, Google & Amazon are all on board.
@@loficathedral4584 Samsung, Visa, Google and Amazon can afford to take calculated risks. It's more for optics than anything else. With all due respect, I assure you Crypto is a pyramid scheme. You will not get the pay out you think you will. I know you're confident you will, but you won't. Crypto trading is an amateur's game. It would be like if you watched a bunch of medical videos on RUclips and then tried to call yourself a microsurgeon. Real deal stock traders are professionals. You and your friends are not.
Next interview, crypto expert discusses the writer/actors strike and the causes behind it....
if no one can buy anything with it anywhere without using fiat currency, it's not currency.
I don't even know the definition of Krypto. Is it Kryptonite. Or tales from the Krypt. It's Chinese letters to me.
I would love to see them go to Japan, S.Korea, or HK and give this talk..they'd be laughed out of the room.
Laugh all they can but in the end they'll get financially hurt and cry so hard. It doesn't matter how long they'll remain in their delusions, what matters is they'll be slapped back to reality. It's just a matter of time.
I feel like they could have called in someone with a higher education to speak on the matter. He only has a bachelor's degree which is undergraduate level & that was from more than 20 years ago. Would love to see him debate a developer.
Appeal to Authority. A fallacy.
how would a developer know about the economics of crypto, as a Masters in economics I think the gentleman with a BA is very cogent and correct.
@@yutyuiiu Prove it..I truly doubt you are telling the truth considering your sentence structure skills alone. It's refered to as tokenomics in the crypto space. If you think the person that creates a cryptocurrency with utilities doesn't understand how what he created will be utilized or create economic value , you are a clown.
Oh he’s a developer would help in an economics debate 😂
@@XavierJAlexander Evidently you don't know what an economic developer is. The grammar skills from all you anti-crypto people reinforces my support. You can't form a sentence correctly, but you're going to tell us about economics. Echo chamber these nuts. 🤡
Bitcoin is self-regulated // Bitcoin is not Crypto // Bitcoin has nothing to do with Celsius, FTX, and other bad actors
I will dump my btc on you before the crash. CHA-CHING!
@@AK-ic1yj Okaaay then
Thank God for crypto and it is an alternative to CBDC as it is not centralised the people own it
yeah they own nothing bravo
Ben’s career is dead ☠️
When did all those crypto backed banks fail again???? Not long after this video dropped!!!
Pretty sure Ben is in the closet.
Another celebrity that had a degree of which they never used, dragged out to tell me what to think
An undergraduate level degree from more than 20 years ago, but damn he looks snappy in a suit 😂
yeah, because the guys that have that degree that aren't celebrities, that never used their degrees, are better to listen to?
You're here by choice.
@@loficathedral4584 you’re really hung up on his degree huh
Someone informing you about something doesn't mean that they are telling you what to think. You can listen to this and other opinions and then think what you want.
This won't age well.
Oi, you look too old to be gambling your money, dude!
@@Mila-ie5bw don't worry about me I'm doing fine. Thanks
@ici16 thank you very much. If I'm wrong in the next couple years I'll hold my hands up. Feeling confident at the moment
The price of Bitcoin could go up to $300,000 and this presentation will still ring true. It's a security not a currency.
@@aztronomy7457 or a store of value over time as the code kicks in and it gets rarer every 4 years
Bitcoin is the future. The real scam, was the end of Gotham where some characters didn't age after like a whole decade. I binge watched the whole series (it was rather good to be fair) , I will never get that time back. I should have spent time working to buy Bitcoin.
These two ! 😔 and why does he so desperately wants to "save us" from crypto? Seems like he has an agenda
Yeah. His "agenda" is to keep you from being parted from your REAL money.
@@victorialadybug1 yes yes REAL MONEY . the future of money is digital currency ! And no amount of haters will change that . Good day sir ! 🤣
@@rasmuspetersen5643 Yeah, CBDC.
@@rasmuspetersen5643 y'all are fucking stupid. That's not what he's saying. The crypto now isn't backed by anything. It's not fucking real dude. 😂😂😂 One day a digital currency will be a very real thing but it won't be what we have now. It's too volatile and it's fucking bullshit. It's worst than a dollar.
Yes, parroting the Democratic Party line.