The best part about "Fortune Favors the Bold" is that one of the original people to say it (Pliny the Elder) was talking about sailing to Mount Vesuvius to investigate the active volcano eruption, where he immediately died
This was its purpose, sort of peer to peer as to not be under the thumb of the same old banks. And greasy mfs like BF only give it momentum. They have to protect him. Until another tool is created. And on and on and on. So perfect because the carcasses in gov't can't even describe what crypto is.
Wait, you're telling me the tokens some college kid is "printing" in their mom's basement aren't real money, and actually totally worthless? I'm shocked. Shocked, I tell you!
bloop, Praise, y'all seem like savvy people and I have an investment opportunity for you. You know how fine art is super valuable well I'm selling digital art. HMU if you want to become a billionaire with little to no up front cost and in as little as a half hour. [not financial advice. Results may vary wildy.]
@@crazycomments2082 the fiat currency I use is backed by the world's largest military power. Sam BankRun Frauds fiat was backed by a few dozen Adderall popping millennials.
@@Praisethesunson Neither one is actually backed by something of value (Eg. Gold or Cacao beans). Bartering actually focused on value. The USD has inflation involved. Just like how coins are just blockchain tokens, USD is essentially paper only backed by tons of agencies saying "TRUST US", a military that prides on being the strongest even though it was a long time since we actually won a war, and a country that had the best credit score(I think we got lower), a debt ceiling that is approaching, etc. One advice on both USD and Crypto: Keep both on local wallets. Get ready for both to be ruined.
It's a little bit like the OG gold rush: people in at the inception might have made a lot of money, but pretty soon the only ones making money are those selling shovels
Not necessarily a scam or joke, but it's not something you should be getting into with money that can't stand that amount of risk, such as pension savings. It's about as bad of an idea as taking your pension savings to Vegas and hoping for the best. SBF bribed otherwise sensible financial advisors into recommending his company and then lied more than Boris Johnson.
Such a shame that the way out system is set up means that in order to make roundabout bribery illegal it'd have to be approved by the people who directly profit off it
Honestly, despite all the tech jargon around FTX, this really sounds more like the sort of financial scheme that blew up in investors faces back in Victorian times rather than something for a modern high tech financial system.
That's all it ever has been. Crypto relies on general tech illiteracy, so they can sell you the same tired arguments about how it's the future, how it's going to be currency, how it's a breakthrough. It's none of those things. It's just an extremely volatile investment product. That means you can make money very quick, or lose money very quick. It's based on an almost useless technology more than a decade old that hasn't found a use case, because a trustless ledger just really isn't that useful, and is an enormously inefficient way of doing nearly any task you'd use it for, the only advantage is the "trustless" part, which people don't understand, it's just a decentralised way of creating an account of transactions through a consensus process instead of centralisation.... but because that's actually not desirable, none of the commonly traded coins actually are decentralised, as can be shown by their forks. It has zero protection against fraud without removing decentralisation, and "trustless" means that every transaction is publicly viewable forever. It will never be a currency, for the same reason you can't buy a car with shares-the value fluctuates too much for that. It's like the money of a country experiencing hyperinflation, from hour to hour day to day that money has very different values. They'll keep comparing it to social media, but in under a decade MySpace peaked in users, and went out of business, and Facebook became the huge thing it is, Twitter became what it is, all of these things very quickly, because Web 2.0 and the Internet to begin with were obvious technological developments with immediate business and personal uses. Email was a gamechanger in the time of couriers, mail and phones. Social media was obviously useful. Whereas "Web 3" proponents can't decide whether Web 3 is VR, whether it needs a blockchain, or whether it's creating second life knockoffs and selling land in them for bitcoin (embarrassing). The reason they have to spend all this money on advertising is simple, they need more people in the ecosystem, buying in, so that they can actually cash out sometimes. They need to convince you it's going to blow up big because it's a big future tech, so that you'll invest a lot. If people want to buy in, that's fine, but they should think of it as gambling because that's all it is. You might win big, you might lose it all, make sure to limit your losses. Those chips aren't worth anything outside of the casino. You can't pay with your arcade tickets outside of the arcade.
9:51 Ive never once heard anyone explain in detail exactly what SBF did to gain his initial millions and everytime its mentioned its glossed over just like this. I've always found his initial rise to prominence story really suspect.
Год назад+53
that’s because it’s genuinely a mystery how he did it. from what i could find, it’s possible he used one of his connections gained from the effective altruism movement who was a Japanese citizen to do some shady deals there to get the money out of the country. but nothing concrete
He was one of the first to notice that there was a differential in different markets, and that you could sell cryto from one country to a different exchange with a different rate, and pocket the profit. AFAIK, He was kinda quiet about it for a time. Then he started Alameda etc… I don’t know if that was necessarily his seed money, but it gave him a head start. (And lots of stupid ideas)
Love mùnecat and how she breaks down complex topics and pulls back the curtains on so many scamfluencers...(not just crypto but also investment experts etc), keep up the good work.. Also I've always been cryptocurious but only for the technology part (distributed databases are so cool!?)..
Blockchain is dumb, that's why no one uses it for anything except cryptocurrency scams. Some libertarian had a wet dream and forgot that energy costs money.
If existing laws against Ponzi schemes were enforced to eliminate speculative cryptocurrencies them blockchain technology would become more attractive. Until then, not worth the downside.
@@jaguartony it's pretty hit or miss. The information is often flawed and incomplete to better fit their narrative for people that don't really subscribe to a socialist viewpoint. It's a good entrance to socialist talking points, but not a good source for information.
Imagine making 20 million on a coin, revealing it's a scam, then instead of running away with the money then, making your own scam coin and trying to make more money.
First time I checked out your channel. I've watched a lot of explanations on SBF/Alameda. This is the first one that ever explained the whole thing clearly. Very well done!
Hey, Munecat :) I've never been interested in Crypto rather the opposite more concerned about the harm it was causing I never knew I wanted a framed cat picture for my wall, but here we are.
You missed the fact SBF bought a farm country bank which was FDIC licensed so tbat HE COULD PRINT MONEY .... mostly banks lend expecting to be repaid from earnings ( farmers buy seed on loans - pays it back with sales of corps) SBF printed $s based lending of his worthless coin ....man is NOT bright, a front man for criminals breaking the system
I heard that they ended up finding all of the customer's money. If Sam would have ran the 2 companies like real companies and there was not such a grey area as far a REGULATION, he wouldn't be in jail.
Thank you munecat. Crypto is just another asset that can be overvalued through social manipulation, yet its natural social environment is peculiar to social media. I am intrigued, though, by block-chain. Could you look into that and its possible use in a public banking option? And for internet security?
Thanks for the bite-sized explainer on this! My eyes glaze over whenever I hear discussion of FTX and bankman fried, so I'm glad I finally know the whole story
Based on history of monetary crises (medieval Europe, before central banks were a thing. They also had like thousands of currencies in those times). The next crash in crypto is going to happen soon and is going to be big.
Total market it already halfway to zero from the top. Hoping a brutal SBF trial will keep things going in the right direction. Regulators could end the whole shitshow right now using current laws.
So, Crypto is an unexpected pest that cannot do any real harm to the business being done but man, isn't it just too cute of a little creature to kill? Look at it! It's making noises like it owns the place even though it has absolutely zero mental capacity to understand what is going on here at all!
@@Galanthos uh. more like a wild animal that had been released into an environment it doesn't belong, poking holes in things that ends up costing people unexpected debt for years to come.
@@chrisgenovese8188 Oooooooooh! That is a much better explanation. I am so used to seeing weird defenses of Crypto that I thought you were arguing that the Porcupine would shut down the factory. Sorry! I think we're on the same page now.
Is that why financial institutions are adopting it's technology?? If you don't believe me, look into what's replacing SWIFT. If you don't know what SWIFT Is I wouldn't be talking about knowledge on financial institutions
@@Ryan-wx1bi yeah, and then crypto will fail, and all the banks that invested heavily in it will be bailed out by tax payer dollars. you were probably shitting in diapers in 2008, but i remember.
Yes, crypto scams can be prosecuted under current law, but when the best most likely charge that sticks is wire fraud, it shows that law makers ARE BEHIND THE TIMES. Just because old law can convict scammers, doesn't mean it does the job adequately or efficiently.
You know that commodity refers, typically, to THINGS. Stuff with intrinsic value, like food, or minerals. Not something like money, stocks, or bonds. There is nothing "clearly" about asserting it being a commodity.
@@jsrodman A lot of things that had been done typically turned out to be wrong, so that part of your argument is invalid. Intrinsic value argument is better. Thing is, even the value of mineral is not intrinsic, it's the matter of what it can be used for and how valuable it can be at the time. BTC offers us neutral money, no middle-man, no central big daddy to take it away, you are in full control of your own funds from anywhere in the world, it's scarce and has consistent monetary policy. What else offers you all that? Nothing.
@@scarftv7983 Your empty talking points would apply to all securities. Since you add a bunch of other false claims, we can discuss them. Bitcoin is not a workable money because the transation frictions are far too high. Bitcoin has middle men and big daddies, see all the ongoing centralization of exchanges, see the already accomplished intentional reality forks. Bitcoin lacks full control - see all the people who hvae had their funds removed from them outside their control via various methods that are unsolved. Scarcity is fundamentally incompatable with a medium of exchange. Nothing else (except every other of thousands of crypto coins) offers this because it's terrible.
@@jsrodman Oh, and your hateful farts are rock solid, aren't they? Bitcoin is workable money, the transaction fees problem is more or less fixed with the Lightening Network. Bitcoin doesn't have middle man - you still can buy it anywhere from anyone and even run your own node for further decentralization. Crypto exchanges are a total antithesis to BTC philosophy - it's essentially central banking. Also, I don't know of a single person WHO HOLDS THEIR BTC IN SELF-CUSTODY AND NEVER EXPOSED THEIR PRIVATE KEYS AS THEY'VE BEEN REPEATEDLY TOLD TO that would have their funds removed, and you know why? Well, mostly because it's impossible. Prove me wrong. Scarcity is necessary for fighting inflation, and there's no reason for it to be "fundamentally incompatible with a medium of exchange". Also, no, no other crypto offers that (apart from Monero probably), because 99% of them are pre-mined, pre-sold, and controlled by a small group of well-known individuals.
Louis Wain!!! I see that print on the wall behind you. Wain may be, quite unironically, one of my favorite artists. I guess I love cats and the frailty of the human mind that much. Love your channel! 🙏😸
The bit about Cruz wanting to use crypto on the vending machines makes me imagine him getting secretly paid in cryptocurrency, but having no idea how to untraceably turn it into dollars, goods, or services
I'm going to say the same thing that I said after reading the comments section of a Closer Look video. In that comments section, the left side of that audience couldn't believe that Trump wasn't in prison, and they couldn't understand why. You can't expect criminals to arrest criminals. The world does not need new legislation, and we can't depend on our current leaders to do anything, we have to take things in our own hands. It won't be easy, and it'll get harder before it gets better, but this system is not working.
I have been trying to understand the whole concept of Crypto currency for years. I've asked various people who claim to understand it to explain it to me, and have watched endless videos (such as this one), in an attempt to fathom what it is. So far, all I've gathered is that it might be some kind of Ponzi Scheme, but whether that's accurate or not - or whether that's ALL it is - I honestly can't say. Anyway, I'm definitely avoiding it.
It's all a ledger. You make a transaction, that is written in the ledger. Easy to change right? Just change what you just wrote down. Now, the second transaction is encrypted with the first entry. Now, to change the first entry you must also change the second first. Next a third transaction is written. The previous two are used as "salts" for the third message. As you add to the ledger, each requires the previous entries to encrypt it. Now that we have millions of transactions, it is nearly impossible to go back and change any record. Mining helps solve these complex mathematical problems to harden the encryption. So in the end you have a blockchain, which is that ledger, where any entry is encrypted by the previous entries to create an almost unchangeable thing. At least, if any part is modified, the whole thing becomes invalid and unreadable. This is why it is so secure. It's also very complex if you're not a mathematician. Don't even try to understand more than the high level I just regurgitated. The blockchain with its guarantee of consistency can then be used to create other applications that require ledgers. Think websites hosting poker games, or in-app purchases etc. Cryptocurrency is here to stay. Not because it will replace money, but because of its mathematical properties that make it useful in so many other applications.
lol took me way longer before I realized I was not on her channel - i finally looked down and thought "wait, what?" after I kept seeing MPU on the screen.
My Uncle had 30K worth of Crypto... it got stolen by a scammer and... there's nothing anyone can do to help him. I wish he'd told me about it sooner, I'm not sure I'd have been able to convince him to get rid of it, but I would have tried.
" UNREGULATED " If Regulated entities are ripe with corruption and greed... What makes you think an Unregulated entities will perform any better??? So people who loves unregulated Bitcoin, good luck to you.
she's been recently doing livestreams on Twitch and posting hilarious highlights on her RUclips Moar Munecat channel every week - here's the latest one from about a day ago, featuring her taking on some AI bots: ruclips.net/video/fZ1raDA4MCM/видео.html
The best part about "Fortune Favors the Bold" is that one of the original people to say it (Pliny the Elder) was talking about sailing to Mount Vesuvius to investigate the active volcano eruption, where he immediately died
😂😂 dang, didn’t even know this. I have to spread the word
Weird seeing Münecat without the jokes, skits, rants & music, but good summary & presentation all the same.
And beer ; )
Munecat crushed this as a communicator, like recognisable enough from her normal channel/content but not the same. I’m genuinely impressed ! Cheers !
münecat - we need the umlaut
If cryptobros are out-lobbying defense contractors, then crypto cannot be anything even remotely good.
A place to hide money easily.
The CIA has their own crypto. Crypto is a tool for evil.
At least the defense industry produces better and more effective ways to kill people. Crypto doesn’t produce anything except fraud.
@@ianshaver8954 Hey now that's not true. Crypto also produces a ton of extra E waste and a bunch of carbon emissions.
This was its purpose, sort of peer to peer as to not be under the thumb of the same old banks. And greasy mfs like BF only give it momentum. They have to protect him. Until another tool is created. And on and on and on. So perfect because the carcasses in gov't can't even describe what crypto is.
Love munecat and love you guys. The collabs are always great on this channel.
just watch coffee instead??
Wait, you're telling me the tokens some college kid is "printing" in their mom's basement aren't real money, and actually totally worthless? I'm shocked. Shocked, I tell you!
Next you'll tell me industry lobbying against regulations has direct negative consequences on real people. Hi from Ohio.
bloop, Praise, y'all seem like savvy people and I have an investment opportunity for you. You know how fine art is super valuable well I'm selling digital art. HMU if you want to become a billionaire with little to no up front cost and in as little as a half hour.
[not financial advice. Results may vary wildy.]
@@Praisethesunson Nothing bad ever happens to the Ohioans!
@@crazycomments2082 the fiat currency I use is backed by the world's largest military power. Sam BankRun Frauds fiat was backed by a few dozen Adderall popping millennials.
@@Praisethesunson Neither one is actually backed by something of value (Eg. Gold or Cacao beans). Bartering actually focused on value. The USD has inflation involved. Just like how coins are just blockchain tokens, USD is essentially paper only backed by tons of agencies saying "TRUST US", a military that prides on being the strongest even though it was a long time since we actually won a war, and a country that had the best credit score(I think we got lower), a debt ceiling that is approaching, etc. One advice on both USD and Crypto: Keep both on local wallets.
Get ready for both to be ruined.
Crypto was already a scam and a joke, SBF just exposed that to a wider audience
Lol yep. No crypto Superbowl commercials this year
Unfortunately he also showed how much opportunity there is for someone whose good at math and has no scruples
It's a little bit like the OG gold rush: people in at the inception might have made a lot of money, but pretty soon the only ones making money are those selling shovels
Not necessarily a scam or joke, but it's not something you should be getting into with money that can't stand that amount of risk, such as pension savings. It's about as bad of an idea as taking your pension savings to Vegas and hoping for the best. SBF bribed otherwise sensible financial advisors into recommending his company and then lied more than Boris Johnson.
SBF: Scam, Bankrupt, Fraud (Credit: LegalEagle)
Heck yeah, more Munecat. More Perfect Union back at it with the solid material.
Lol I clicked on more perfect union and I got Munecat I love Munecat so what a pleasant surprise.
Crypto is as stable and trustworthy as the edge of an active volcano.
My best friend put is entire inheritance in to bitcoin £90k😕
There ya go!!!! 🌋🤖
@@burner9147 I put my entire inheritance into the edges of active volcanos. :(
@@theultimatereductionist7592 I put my active volcano collection next to my credit union. 🤦♂️
Sorry, active volcano is more trustworthy.
So cool to see Müne working with/for other creators ❤️
Man, campaign "donations" need to go. Straight-up bribes.
Btw, I've lost a staggering $35 in this whole fiasco. I knew it was all BS 😂
i made a bit of money getting in on doge early and then getting out before it imploded. which puts me well ahead of most cryptobros
Such a shame that the way out system is set up means that in order to make roundabout bribery illegal it'd have to be approved by the people who directly profit off it
Honestly, despite all the tech jargon around FTX, this really sounds more like the sort of financial scheme that blew up in investors faces back in Victorian times rather than something for a modern high tech financial system.
My thoughts exactly. This is just boring run of the mill financial fraud that has been going on ever since money was created.
That's all it ever has been. Crypto relies on general tech illiteracy, so they can sell you the same tired arguments about how it's the future, how it's going to be currency, how it's a breakthrough.
It's none of those things. It's just an extremely volatile investment product. That means you can make money very quick, or lose money very quick. It's based on an almost useless technology more than a decade old that hasn't found a use case, because a trustless ledger just really isn't that useful, and is an enormously inefficient way of doing nearly any task you'd use it for, the only advantage is the "trustless" part, which people don't understand, it's just a decentralised way of creating an account of transactions through a consensus process instead of centralisation.... but because that's actually not desirable, none of the commonly traded coins actually are decentralised, as can be shown by their forks. It has zero protection against fraud without removing decentralisation, and "trustless" means that every transaction is publicly viewable forever.
It will never be a currency, for the same reason you can't buy a car with shares-the value fluctuates too much for that. It's like the money of a country experiencing hyperinflation, from hour to hour day to day that money has very different values. They'll keep comparing it to social media, but in under a decade MySpace peaked in users, and went out of business, and Facebook became the huge thing it is, Twitter became what it is, all of these things very quickly, because Web 2.0 and the Internet to begin with were obvious technological developments with immediate business and personal uses. Email was a gamechanger in the time of couriers, mail and phones. Social media was obviously useful. Whereas "Web 3" proponents can't decide whether Web 3 is VR, whether it needs a blockchain, or whether it's creating second life knockoffs and selling land in them for bitcoin (embarrassing).
The reason they have to spend all this money on advertising is simple, they need more people in the ecosystem, buying in, so that they can actually cash out sometimes. They need to convince you it's going to blow up big because it's a big future tech, so that you'll invest a lot.
If people want to buy in, that's fine, but they should think of it as gambling because that's all it is. You might win big, you might lose it all, make sure to limit your losses. Those chips aren't worth anything outside of the casino. You can't pay with your arcade tickets outside of the arcade.
It's not a new scam. It's just digital.
The crossover I didn’t know I need so much in my life
Munecat! Happy days.
Great to see munecat back with another colab... R I P Crypto! Beanie Babies Forever😊
It was always a scam I thought nfts were the start of the death spiral.
9:51 Ive never once heard anyone explain in detail exactly what SBF did to gain his initial millions and everytime its mentioned its glossed over just like this. I've always found his initial rise to prominence story really suspect.
that’s because it’s genuinely a mystery how he did it. from what i could find, it’s possible he used one of his connections gained from the effective altruism movement who was a Japanese citizen to do some shady deals there to get the money out of the country. but nothing concrete
My understanding is he did a lot of crypto exchanges in the US and sold at a higher price in the Japanese market. Arbitrage if you will.
He was one of the first to notice that there was a differential in different markets, and that you could sell cryto from one country to a different exchange with a different rate, and pocket the profit. AFAIK, He was kinda quiet about it for a time. Then he started Alameda etc… I don’t know if that was necessarily his seed money, but it gave him a head start. (And lots of stupid ideas)
His parents are wealthy and more than likely implicit.
@@roguegargoyle914 complicit, but yes agree
Wait wtf I didn't realize it was a more perfect union video for a minute. That's dope they have good taste in creators
I can't believe them raising exactly 420,690k from 69 investors didn't raise any eyebrows
I love how every other video on this channel is 2-7 mins long and here comes münecat with a 20 minute banger… 🤣🤣
The total best SBF saga sum-up I've seen on the whole of internet so far!
Fefinitelly a subscriber!
Love mùnecat and how she breaks down complex topics and pulls back the curtains on so many scamfluencers...(not just crypto but also investment experts etc), keep up the good work..
Also I've always been cryptocurious but only for the technology part (distributed databases are so cool!?)..
Blockchain is dumb, that's why no one uses it for anything except cryptocurrency scams. Some libertarian had a wet dream and forgot that energy costs money.
If existing laws against Ponzi schemes were enforced to eliminate speculative cryptocurrencies them blockchain technology would become more attractive. Until then, not worth the downside.
More munecat collabs pls
Killer collab, I love münecat!
"Sound off in the comments" is such a nice way of saying "scream into the seething void".
Y'all getting some great hosts for your videos. Keep it up!
Well you're indeed my top reporter youtuber now. Keep it up!
Munecat colab??? FUCK YEAH!! Go watch all her stuff. It's great!!! More humor added :).
Well to answer the question at the end; I think we should abolish the private ownership over the means of production.
I give that top marx
Yes please!
It's so surreal to see Munecat and not feel like she's in the middle of an alcohol-induced psychotic break
The munecat content I crave!
Not too bad guys. Much better then anything I’ve seen on the channel. Even touched on political donations.
Lol this channel is great wtf yoi talking about?
@@jaguartony it's pretty hit or miss. The information is often flawed and incomplete to better fit their narrative for people that don't really subscribe to a socialist viewpoint. It's a good entrance to socialist talking points, but not a good source for information.
Imagine making 20 million on a coin, revealing it's a scam, then instead of running away with the money then, making your own scam coin and trying to make more money.
Well this was an incredible explainer!
I don't know if I love Munecat or MPU more and now luckily I don't need to decide
Thank you❤🌹🙏 for the episode🤔! Glad 😊 I've avoided much financial loss...
First time I checked out your channel. I've watched a lot of explanations on SBF/Alameda. This is the first one that ever explained the whole thing clearly. Very well done!
"Socialize risk and privatize profit" . . . that seems to be a concise description of many current entrepreneurial strategies.
love munecat, what a great presenter
never take advise from someone who says 'i learnt everything. So you don't have too'. .that's my advise.
Hey, Munecat :) I've never been interested in Crypto rather the opposite more concerned about the harm it was causing I never knew I wanted a framed cat picture for my wall, but here we are.
I’m happy to see Munecat here!
Great video, and love Munecat in these shorter form videos ❤
You missed the fact SBF bought a farm country bank which was FDIC licensed so tbat HE COULD PRINT MONEY .... mostly banks lend expecting to be repaid from earnings ( farmers buy seed on loans - pays it back with sales of corps) SBF printed $s based lending of his worthless coin ....man is NOT bright, a front man for criminals breaking the system
I am a simple man, I see Munecat I hit subscribe
I heard that they ended up finding all of the customer's money. If Sam would have ran the 2 companies like real companies and there was not such a grey area as far a REGULATION, he wouldn't be in jail.
I certainly hope so.
Yay, Munecat! So glad that independent journalist exist.
Thank you munecat. Crypto is just another asset that can be overvalued through social manipulation, yet its natural social environment is peculiar to social media. I am intrigued, though, by block-chain. Could you look into that and its possible use in a public banking option? And for internet security?
Thanks for the bite-sized explainer on this! My eyes glaze over whenever I hear discussion of FTX and bankman fried, so I'm glad I finally know the whole story
I love that this channel isn't about the wrong disruption of the economy
Based on history of monetary crises (medieval Europe, before central banks were a thing. They also had like thousands of currencies in those times). The next crash in crypto is going to happen soon and is going to be big.
And you know this how?
Total market it already halfway to zero from the top. Hoping a brutal SBF trial will keep things going in the right direction. Regulators could end the whole shitshow right now using current laws.
Same guys who will be crying at the next pump
Great content and channel. Keep up the great work !! 👍👍👍👍👍
Yooo it's Munecat! This channel rules
crypto is to the financial institution what a porcupine is to a condom factory.
So, Crypto is an unexpected pest that cannot do any real harm to the business being done but man, isn't it just too cute of a little creature to kill? Look at it! It's making noises like it owns the place even though it has absolutely zero mental capacity to understand what is going on here at all!
@@Galanthos uh. more like a wild animal that had been released into an environment it doesn't belong, poking holes in things that ends up costing people unexpected debt for years to come.
@@chrisgenovese8188 Oooooooooh! That is a much better explanation. I am so used to seeing weird defenses of Crypto that I thought you were arguing that the Porcupine would shut down the factory.
Sorry! I think we're on the same page now.
Is that why financial institutions are adopting it's technology?? If you don't believe me, look into what's replacing SWIFT. If you don't know what SWIFT Is I wouldn't be talking about knowledge on financial institutions
@@Ryan-wx1bi yeah, and then crypto will fail, and all the banks that invested heavily in it will be bailed out by tax payer dollars. you were probably shitting in diapers in 2008, but i remember.
❤️🌹I Love this Lady 🌹❤️
Cryptobros don't get a pass because SBF outbro'd them
"If there are actually any good players" take of the decade
So happy seeing a content creator help a smaller channel
Crypto was great if you were a scammer. Note that scammers may have too face consequences, it’s strongest use case has been lost.
Oh wow, Münecat on MPU. My gorgeous queen 🤩
Lovely to see Munecat here 👍🏻
Yes, crypto scams can be prosecuted under current law, but when the best most likely charge that sticks is wire fraud, it shows that law makers ARE BEHIND THE TIMES. Just because old law can convict scammers, doesn't mean it does the job adequately or efficiently.
Tries to get crypto to be ruled as a commodity even though it's obviously a security, and ends up getting slammed for both.
BTC is clearly a commodity.
You know that commodity refers, typically, to THINGS. Stuff with intrinsic value, like food, or minerals. Not something like money, stocks, or bonds. There is nothing "clearly" about asserting it being a commodity.
@@jsrodman A lot of things that had been done typically turned out to be wrong, so that part of your argument is invalid. Intrinsic value argument is better. Thing is, even the value of mineral is not intrinsic, it's the matter of what it can be used for and how valuable it can be at the time. BTC offers us neutral money, no middle-man, no central big daddy to take it away, you are in full control of your own funds from anywhere in the world, it's scarce and has consistent monetary policy. What else offers you all that? Nothing.
@@scarftv7983 Your empty talking points would apply to all securities.
Since you add a bunch of other false claims, we can discuss them. Bitcoin is not a workable money because the transation frictions are far too high. Bitcoin has middle men and big daddies, see all the ongoing centralization of exchanges, see the already accomplished intentional reality forks. Bitcoin lacks full control - see all the people who hvae had their funds removed from them outside their control via various methods that are unsolved. Scarcity is fundamentally incompatable with a medium of exchange. Nothing else (except every other of thousands of crypto coins) offers this because it's terrible.
@@jsrodman Oh, and your hateful farts are rock solid, aren't they?
Bitcoin is workable money, the transaction fees problem is more or less fixed with the Lightening Network. Bitcoin doesn't have middle man - you still can buy it anywhere from anyone and even run your own node for further decentralization. Crypto exchanges are a total antithesis to BTC philosophy - it's essentially central banking. Also, I don't know of a single person WHO HOLDS THEIR BTC IN SELF-CUSTODY AND NEVER EXPOSED THEIR PRIVATE KEYS AS THEY'VE BEEN REPEATEDLY TOLD TO that would have their funds removed, and you know why? Well, mostly because it's impossible. Prove me wrong. Scarcity is necessary for fighting inflation, and there's no reason for it to be "fundamentally incompatible with a medium of exchange". Also, no, no other crypto offers that (apart from Monero probably), because 99% of them are pre-mined, pre-sold, and controlled by a small group of well-known individuals.
Louis Wain!!! I see that print on the wall behind you. Wain may be, quite unironically, one of my favorite artists. I guess I love cats and the frailty of the human mind that much. Love your channel! 🙏😸
Oh hey Munecat! Love you(r stuff) ❤️
RUclips is full on suppressing your channel now. Congrats, you’ve made an impact. 😁
The bit about Cruz wanting to use crypto on the vending machines makes me imagine him getting secretly paid in cryptocurrency, but having no idea how to untraceably turn it into dollars, goods, or services
Good video 💪🏾💪🏾💪🏾, thanks for the knowledge
I didn't expect to see a collab between Münecat and MPU but it absolutely works.
I'm going to say the same thing that I said after reading the comments section of a Closer Look video. In that comments section, the left side of that audience couldn't believe that Trump wasn't in prison, and they couldn't understand why.
You can't expect criminals to arrest criminals.
The world does not need new legislation, and we can't depend on our current leaders to do anything, we have to take things in our own hands. It won't be easy, and it'll get harder before it gets better, but this system is not working.
You had Munecat, but you didn't get her to sing a silly song?? Wow dude, missed opportunity.
"He's just Enron for crypto... But in reality, his fraud is emblematic of the shaky foundations of the entire industry."
So, he *IS* Enron for crypto.
i’m lovingggg these collabs
Münecat is the GOAT. The 🐐 I say!!!
I have been trying to understand the whole concept of Crypto currency for years. I've asked various people who claim to understand it to explain it to me, and have watched endless videos (such as this one), in an attempt to fathom what it is. So far, all I've gathered is that it might be some kind of Ponzi Scheme, but whether that's accurate or not - or whether that's ALL it is - I honestly can't say. Anyway, I'm definitely avoiding it.
It's all a ledger. You make a transaction, that is written in the ledger. Easy to change right? Just change what you just wrote down.
Now, the second transaction is encrypted with the first entry. Now, to change the first entry you must also change the second first. Next a third transaction is written. The previous two are used as "salts" for the third message.
As you add to the ledger, each requires the previous entries to encrypt it.
Now that we have millions of transactions, it is nearly impossible to go back and change any record.
Mining helps solve these complex mathematical problems to harden the encryption.
So in the end you have a blockchain, which is that ledger, where any entry is encrypted by the previous entries to create an almost unchangeable thing. At least, if any part is modified, the whole thing becomes invalid and unreadable. This is why it is so secure. It's also very complex if you're not a mathematician. Don't even try to understand more than the high level I just regurgitated.
The blockchain with its guarantee of consistency can then be used to create other applications that require ledgers. Think websites hosting poker games, or in-app purchases etc.
Cryptocurrency is here to stay. Not because it will replace money, but because of its mathematical properties that make it useful in so many other applications.
I’d be interested to hear a breakdown of:
The Bahamian government’s involvement and potential legal ramifications.
Demographics for crypto investors.
I don't know how I feel about a video featuring Munecat where she does not concoct and sing a banger at the end.
lol took me way longer before I realized I was not on her channel - i finally looked down and thought "wait, what?" after I kept seeing MPU on the screen.
Good summary, but missing the obligatory münecat diss-track.
Glad I missed out on crypto
I wouldn't say he outright killed it, but he did inflict quite the wound and that the industry is bleeding out and trying to cover it up.
3:15-3:20 As an Infinity Train fan, I really wish you used the clip in The Ball Pit Car when Tulip said that exact same thing.
Saying SBF killed crypto is like saying Madoff killed the stock market.
No mention of wood nymphs?
Bankman-Fried saw Theranos and was like, "hold my beer".
Awesome video but I'm still trying to figure out who London Bloom is. 😁
This was very well done and informative and I have to admit I clicked on the thumbnail because I thought you were Scarlett Johansson
Scammers be scamming. Trusting regulated bank criminals vs trusting unregulated pirates.
Yes, ultimately they are all scammers, but it's a lot harder to get rid of bankers than it is other criminals.
Totally irrelevant side note, the music that plays around 17-18 min into this reminds me of Super Mario Land on gameboy like 30 years ago.
My Uncle had 30K worth of Crypto... it got stolen by a scammer and... there's nothing anyone can do to help him. I wish he'd told me about it sooner, I'm not sure I'd have been able to convince him to get rid of it, but I would have tried.
" UNREGULATED "
If Regulated entities are ripe with corruption and greed... What makes you think an Unregulated entities will perform any better???
So people who loves unregulated Bitcoin, good luck to you.
Yesss munecat!!!!😻💓
No, he didn't.
Crypto has no economic metric to drive its value -- it's PURE speculation setting the price.
oh so she's been hiding here this whole time. I been wondering where she went lol
considering the frequency of her previous uploads I didn't consider anything to be unusual
she's been recently doing livestreams on Twitch and posting hilarious highlights on her RUclips Moar Munecat channel every week - here's the latest one from about a day ago, featuring her taking on some AI bots:
ruclips.net/video/fZ1raDA4MCM/видео.html
I'm not usually interested in hearing about suckers getting scammed, but if münecat is explaining it, I absolutely will.
Love Munecat! Great video ✨✨👄✨✨
I see munecat, I click.
How many of the "regular" people grifted by these people have already moved onto another?