Is This the End of Crypto?
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- Опубликовано: 6 дек 2022
- The Merge, Explained
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Things are changing in Crypto. Here’s how to think about it.
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Lol you guys get ready for a million bots in the comments promoting fake cryptocurrency and more bots upvoting. I’ve been deleting best I can but I can’t keep up. What a weird world we live in.
😅
Thought RUclips took care of the bot issue. Looks like bots are catching up. The game between bots and RUclips continues.
🤣🇳🇵
Please don't fall for the Amazon so called crypto. Jesus christ the scammer behind this are really good. Actually it would be really interesting to have a documentary about how they managed to get so many fake upvotes and such
Thanks for acknowledging though. Otherwise we would have thought you are a bot too. 😅
The oldest rule remains true, "the best way to rob a bank is to own a bank"
Truly wise words
SBF took this seriously. and stole the entire bag. sheesh.
Never joined the crypto train, it was simply too cryptic for me. And where is Sam Bankman , is it true he went to South America, live under the name Sam Goldbank and has started a new currency called WTF ??
the only way to rob a decentralized network is by never using the decentralized network and just fill bags and bags of money from people that are stupid enough to believe that descentralized networks have middlemen.
You need a Bank-Man for that
Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
@@AstaKristjan Really? Well, I used to have a professional but his license was withdrawn along the line', so I continued on my own. Anyway, how can I reach your adviser or someone as good?
@@Erinmills98bruuuh u can’t even do a scan properly 🤦🏻
@@artemjetman the bots gave up midway lmao
@@zumabbarfr fr xD
This is why Johnny Harris is an incredible content creator: Every episode he produces would take another creator months or years to make. Johnny delivers high quality and valuable content every few weeks.
I want to know what this dude is smoking 🤣🤣
Feel like Johnny is slowly starting to lose his mind, and I'm fully invested in this journey
regular johnny is just Schizophrenic johnny ;D but video was actually intresting
Johny is *not* your friend. Johny is a Trojan Horse.
he's not slowing starting anything... he has been well on his way for quite some time now ! ;)
Legal Eagle Johnny 😂
agree
Wasn't the "merge" the single thing that killed GPU and scalping demand?
Yeah it was
Single? Maybe, the biggest? Yeah.
Working from home too
15th of Sept. Yes.
GPUs are still used to mine Bitcoin, the merge moved ETH out of proof of work to proof of work but BTC is still on it. It will be back next cycle.
The editing in this video is on another level. You're work keeps getting better and better.
And it’s such a good way of explaining it, Very impressive!
Honestly, I think it's one of his most terribly unhinged videos. Hard disagree.
+1 from a lurker
I had to stop this video... To say I love your style of journalism. By far one of my favorite channels, I love when you post new videos!
bro get a life
Chapters -
0:00 Intro
1:29 Sponsor
3:18 Johnny Explains Blockchain & Crypto Mining
6:50 About Ethereum
10:02 Here's Johnny !
10:55 Problems with Crypto
13:50 U.S. Securities & Exchange Commission
16:18 Decentralization of Crypto
20:23 End
@@mudswamp3334 they want you to view the entire episode for the algorithm. It doesn’t help them for ppl to only watch 60% of the video vs 95%.
But you missed all of the shots of Johnny eating Doritos with chopsticks -
11:06
11:54
12:53
14:01
15:22
there is no backing of Crypto , so you are playing a risky game... what happen to FTX was not a coincidence..
continue doing this
Nice
I spit my coffee out of my mouth in laughter when you dropped the "REGULATORS!!!" line lmao. Genius work as usual Johnny and yes we got the reference.
lol this made my day
I got it but I was the older brother who was into hip hop in the 90s.
I love seeing old people smile 😄
@@emily7195 Go watch Above The Rim, youngin.
@@hyrle750 my older brother was into hip hop in the 90s.
"Is that a turntable? Well get on it, its your turn"
Strong Julie Nolke vibes with full conversations with Johnny's selves. Informative and entertaining!
Props on this video! Great job with the multiple Johnnys
Legend has it, Johnny Law is still regulating to this day
This would be moot if more crypto block chains move to become "obfuscated" (anonymous) like XMR
LegalEagle is watching his RUclips competition very closely. Somebody could wind up in court.
I have to agree with skeptic Jonny. The merge matters… but it mostly just works to remove the stigma of crypto being bad for the environment in the public mindset. The fatal flaw of crypto remains legitimacy and ease of use. If we ever hope for mass adoption, it needs to be as easy as using a credit card. It can’t disappear when I lose my phone or forget my password- or massively devalue because of a tweet by some celebrity. It needs to be stable, easy to use, and secure.
Also a typo of a cryptic key must not lead to you losing that money. If you send money by bank transfer and have a typo usually it doesn't go through and you keep the money. If you send it accidentally to the wrong person it's also not gone for good. In the case of a crypto transfer you'd lose it without any chance for recovering it.
Agree. Crypto bros always say DYOR (do your own research). As if that’s enough to remedy the flaws of crypto itself, or as if everyone has time to actually research on each and every crypto project/token/blockchain out there. People have real jobs and other things to do! As long as it’s not easy enough for these people to use it, crypto will not gain enough adoption.
I really dont think stability will be possible as the value in cryptocurrency can be so big. There are ways for it to be easy to use, secure and make sure that transactions are stable so you can secure FIAT at the time of the transaction if you want the "stability".
@@ThePandafriend Dont type it just copy and paste its not that hard 🤦🏿♂
I'm sharing this video.. it's amazing.. great work Johnny.. keep up the good work
Johnny's videos are always a great piece of work. Nice job !!!
Let's take a moment to appreciate the editing and creativity poured in to this video
It's an outdated RUclips trend that's so been overused I couldn't find myself hooked to the subject which seemed very interesting at the beginning.
what creativity? he literally used every medias talking points when bitcoin was 1$
@@LebowskyDude let's respect our difference of opinion. I find it really interesting like he's trying different ways to explain a complicated subject to us
@@titotitotito I loved it though
Nah
Your storytelling and video production are unparalleled. Love this.
Hey just a couple of things I felt should be clarified. The Ethereum blockchain does not have a 'CEO'. Vitalik Buterin is a co-founder of Ethereum. Since blockchains are decentralized, they do not have a top-down power structure. Also, you said Ethereum's proof-of-stake requires a 'small' amount of stake. But each node needs to stake around 32ETH, which is worth over 40k USD, which is not that small. 😂
Otherwise, great video and loved the editing, Johnny. Cheers!
Isn't the reason crypto farms are shutting down is because the value of the coins they mine has gone down drastically, and that it isn't cost-effective to mine at the moment, when energy costs are also higher than usual?
yeah but if verall the amount of energy needed to farm 1 unit goes down in general then you could still afford to do so with higher wattage per hour prices from the power company
Johnny Harris is one of few journalists on RUclips who actually breaks off from their parent company and start something of their own and its going on great... Keep up the good work
Why do you think he's not with the economic world forum anymore?
@@Scarlett.Granger I don't know... fill me in on what I'm missing
That mock conversation with skeptic and crypto Johnny was great. Explains details, and information in a fresh new way that feels natural, and not like a lecture at college. LOVE IT!
Why don't you like it? Lecture style format makes discussions better with less indirect language and sensationalism
No. No it wasn't.
Need more Johnny's to explain John's
@@johnpijano4786 It's not that I don't like lectures. Long video essays are my absolute favorite type of youtube videos, I was just saying the Johnny(s) conversation bit was a cool way to explain a complex topic in a fun way.
He is referencing RUclipsr Contrapoints, which is awesome!
The inflation is real We are far very from the bottom, But we also need to talk about Amazons ATUSD2 as a gamechanger where we can avoid most of the losses. This is not a joke guys, this is the only chance this year gives!
I wanna raise my kids in a better world and I see that this is a step which is productive towards that 😊
Is this for real?
Odd release that they do it right now but who cares
This is the best and most exciting thing which could have happened to crypto
+10% compared to yesterday and this is even far from being used broadly
Nice video, information clearly distilled and top quality video editing and creativity. 👍
Thank you Johnny & team for all the work you do to produce and publish these videos,
Welcome to the harryverse
let's all just appreciate the genius video, story and content quality that is done in the most entertaining way...
Fantastic, I just became a fan! Amazing editing, smart content and super inspiring... Thanks!
Amazing way to explain the video, super entertaining and informative 👏
Dude, I'm so glad I didn't just jump ship with that whole "controversy" earlier this year! You came back so strong and the quality you and your team have been putting into these last few videos has been nothing short of incredible. This is the beginning of your Golden Era, Johnny!
What was the controversy?
@@akm824 basically he omits and does not clearly paint the entire picture of a topic. but he has accepted the criticism and made sure to make the vids as factual as possible without losing any of the enjoyment factor.
@@apaty15 Biases are inherent in all media, from the bottom up. It's all in recognizing them, either as the creator or the public, so as to not misconstrue the intended meaning. Even an ignorant person having simply been born in a heavily biased area can rise above with knowledge of those biases, to not fall into the traps of his predecessors.
@@akm824 Jonas nailed it!
@@akm824it was him making a video that was full of propaganda from the economic world form and pretending it was his own ideas and opinions (even tho weirdly the text of the video is nearly the same as a blog post from the economic world forum which names one of their leaders as the author whoch would indicate it was not, in fact, Johnnys own opinion).
Also he didn't even mark it as sponsored content which is required by law in some countries including EU and by the RUclips guidelines, even tho he admitted it was a "cooperation".
The economic world forum is a club for the worlds richest companys coming together to talk about the problems basically caused by them in the world and discussing solutions while nothing tangible is ever actually done. Pretending is cheaper and easier.
The format of this video was super creative and made the discussion really engaging and easy to follow. Amazing job 💯
Honestly I was watching another RUclipsr call coffeezilla and is shocking how there are many billion dollars crypto companies going bankrupt, that’s what definitely makes me think that crypto ain’t gonna replace banks or cash, for the simple fact that the government has no control over it. But government can also make it bad so it’s a huge puzzle that I’m still trying to understand great video tho.
Found your channel and subscribed after watching the Switzerland bunker video. Great content with superb quality. Now slowly digging out the older video to watch.
This one is informative until I can’t watch it casually while doing other work, can’t listen and comprehend the information discussed among ‘yourselves’.
The only thing I learn and probably to try is to use chopsticks to eat some snacks. 😂
A really refreshing change in the structure and look compared to normal videos, well done.
I just love it when someone creates a huge problem and then later solves the problem they caused and acts like they saved the world. It’s my favourite thing.
The best! Just like removing the headphone jack from a phone and and fixing it immediatly by selling you overpriced wireless earbuds...
@@gorgorgonzales3090 I literally just came here from a Future Proof video on AirPods, lol
They didn’t solve anything. Crypto is a joke.
You seem to conveniently ignore the fact the crypto industry is only 14 years old and its technical development has been mainly fueled by people in their early 20s. That means is highly innovative and highly imperfect. Most of them never even expected for it to explode the way it did, hence the need to find more sustainable consensus algorithms.
@@nwdrifter Hello fellow skeptic. I've spent hours watching these crypto videos and it has always sounded like a big scam to me.
Loved this one - so many Johnny’s 😂(must’ve taken ages to plan, script, shoot & edit!) 👏🏻👏🏻👏🏻
I love how they all agree to disagree in the end and get a beer. Reminds me of when me and my friends back in high school debate about religion during vacant times but go to recess together and treat each other.
You had recess at your high school?! 🫠
Hey Johnny, love the video. I think it's a fair take on the space as it is right now - gives an equal shake to both sides. One correction that is worth noting is that Vitalik isn't the CEO of Ethereum. He's a co-founder, along with a few others, but the position of CEO of Ethereum doesn't actually exist. It's similar to saying "CEO of HTTPS". They're both just protocols.
Don’t kid yourself. He is the CEO and when the SEC declares it a security, that will become his official title. Ethereum is in no way “decentralized”. It was centralized from the beginning and probably even more so now.
Another fact worth mentioning, that people don't understand, is that all of the energy consumed by the "unlucky" machines is wasted. As you've shown, it's race, every machine "runs" individually, it's not a collective effort to sove a problem. In the end one machine wins and the others wasted all that energy for nothing. And that's sad.
lucky machine energy is wasted too, as problem being solved has no real world application.
Love your work buddy, incredible story teller.. 5star
Thank you Johnny! Love your videos!
Great content Johnny Harris & Team! A nicely packaged fourth-wall breaking style video ready to effectively entertain and inform. Subjectively, RUclipsrs and their acting scripts/delivery almost always come off corny and cringey to me but this is had me nearly in tears with all the self-awareness. I’m impressed by the quality and amount of content continually being pumped out. All i hope for is you guys don’t burn yourselves out. Don’t be afraid to take that break when needed, etc.
Biggest takeaway from this video is "eat Dorito's with chopsticks and save your fingers from cheese dust!"
Arrigato, Johnny-sensei!
I loved this video conversation concept. Super funny and informative. You have to revisit this conecpt again sometime soon.
awesome video u do a good job explaining love the channel and the points u make
I believe we all have a GIANT soft spot for Johnny playing multiple characters to explore and express different versions of himself in different ways. What a lovely treat! ❤️❤️Very much appreciated 💓💓
Yup. Because this is how real people are. We have multiple opinions combating within. Johnny shows this well.
Creators usually see their earlies comments the most.
Thank you for making such informative content Johnny and also making it so entertaining without having to exasperate as much as most journalism is done today. Your stuff is really a breath of fresh air and the effort you put into it really shows.
Man you blew it out the park! 🎉 dope videos! Keep up the great work bud!
just discovered your channel i like your style in your explanations. well done just subscribed
i am also a fan of crypto
problem majority of people still fall for all the fud mainstream media says on crypto
crypto is still good thing
for many. but still the wild west of finance
thanks for being here
Poor Johnny Law. They didn’t even ask him if he wanted to join them…
Ethereum accounted for over 95% of the money that all GPU miners made, so no people didn’t just switch the other Blockchain, as every other blockchain became instantly unprofitable to mine. Most of the miners on ethereum sold the graphics cards to normal people.
Vitalik is certainly an importnant voice, but he isn’t dictortor or ceo of ethereum. There are changes that he wantted to make that we didn’t accept and there are changes that he didn’t want that everybody went along with
Yeah my profitability went from like 5-10 dollars a day to -0.25 after ETH merge so i shut it off like most others. Surprised Johnny didnt catch that bit
Lol you know there was a huge premine right? ETH is just another crap alt coin that will be regulated.
ETH is nearing the end of the line (state capture/ security ruling), but the future looks bright for bitcoin imo.
Great video as always though I seem to be in the minority when I say that I do not enjoy the conversational explanation as much. I found myself losing focus after awhile. I liked it initially but feel like it went on too long. Based on other comments it seems like many people enjoyed so i figured i'd share my opinion since it was contradictory of others. Overall, always love the videos and learning from you, Johnny!
Your videos keep getting better and better. Proud to be a patreon.
patron*
No ones arsed @@tahasilat7394
It is a good time to invest in AZ500TX Great potential
Scam
Is that a new graphics card?
@@Allaiya. LOL it really does sound like a GPU :'-D
Scammer 🙂
nice one turkish bots. SCAM!!!
I hope you will do more of the multi-character Johnny. This is good. It allows you to say things you might not have said if just one Johnny.
Yeah... indeed
Love your videos bro... 🔥 great job
That regulators reference is dope lol
In my humble opinion, this was some of your best work. Super engaging. I liked the regulators reference. The version you referenced was sampled from an old movie called Young Guns. Also, that’s the first time I’ve ever been able to understand the blockchain. Way to go!🎉
I’m curious what your thoughts are on CBDCs. They’re doing a pilot program in the US and a couple other countries have already adopted them.
Yep
What is CBDCs?
@@daniellucas6831 they are Central Bank Digital Currencies. They are a form of digital money. Similar to crypto but pegged to the US Dollar. The US is working on a pilot program to see about rolling them out in the US. The Bahamas have already started issued their CBDC program. It’s called The Sand Dollar. There are other companies working on some as well.
I think Johnny Harris would make explain them more effectively than I can. There is a lot of misinformation going on about them right now.
The only downside with eth is that it is centralised now and can be turned off at any moment , btc cannot
Proof of stake is basicly "i deserve the block reward because i have more money and i will do no work to earn it".
If it doesnt cost you anything to make more eth since its proof of stake now, how do you know that its not tampered?
Eth was premined before it was released unlike btc. This means that the initial miners that have a ton of eth will continue to dominate the mining.
@@ysfhero What work? You are talking like crypto is working on a cure for cancer or sending satellites to space. Its just an algorithm to pass time.
I like your style, and the presentation is fantastic. Great work 👍
Loved the "Regulators" drop. -LBC
I love how well explained and well presented your content is. It’s commendable how much work you put into this
Man, your team is brilliant. It is like a mini movie rather than a video on RUclips
This is probably the first time I actually see bots talking to each other. What a world we live in...
Excellent video Johnny!!
Thanks for covering this topic, it is definitely something that was needed, especially in a way that is easy to understand. So many channels cover this topic in a way that can get confusing, but not here. Thank you for this! 😀
Exceptional new video, Johnny. Love the skit, graphics, and style. Superb writing, framing, and editing too. It's hard to extrapolate the humor into longer bits. Well done.
12:31 I felt like Captain Jacksparrow in the bars of Flying Dutchman .....lol😂😂😂😂😂😂😂😂
Let’s talk 👆
Everything About Cryptos in the video was unknown to me .......thank you so much johnny for making such wonderful informative videos
Let’s talk👆👆
Could you please talk about AZ500TX it’s very strong and took off in short time thanks.
SCAM
SCAM ALERT!!
This is scam guys 🙂
AZ500TX IS A SCAM
@@TorontoDrivers416 yes it is
Fantastic video and can't wait to see where else this leads down the rabbit hole. So many wonderful things to explore for blockchain, crypto and beyond
I am with Schizophrenic Johnny on this one, people that aren't super savvy about the crypto world are well served to stay out of investing in it or very little. The people that are really hardcore about it, good luck and I hope you do find a way to make it rich and not have it all crash and burn around you. Just know that until it is made a lot more proven and a lot safer for the average user, people are going to be skeptical and not join you on what from the outside looks like a Don Quixote quest. And Congrats on The Merge.
Let’s talk 👆👆👆
Great video! Johhny you should cover the Greco Turkish War of 1922 and the Population exchange
As always Johnny an informative and entertaining video, but this one in particular had me glued to the screen grinning. Love this more creative directorial approach!
This may be one of my favorite videos you've ever done. The clone-Johnny segment absolutely killed me.
Just representing what happens when people try to understand crypto, haha
This video probably doesn't target my demographic but I can appreciate its high level of production quality. I especially like the emphasis on energy efficiency. I suggest though that people google "downsides of Ethereum merge" for a broader perspective.
This video was recommended to me by YT and it didn't disappoint. Great video!
This is a next level video editing and content. You just set the bar higher. Bravo
Dude...I am really positively surprised with your twin-acting part. It flows naturally and never becomes cringe. Congrats and thanks!
wow that means a lot. im not an actor and was wondering how this all came across. thanks!
@@johnnyharris tbh little on the cringy side for me, just a tad though compared to many other videos using this ;)
Thank you for the Regulators reference. This is an awesome video, although sometimes you can seem kinda corny, you're actually pretty chill. Big ups!.
I love how you share information through streaming and entertaining. Thanks Johnny... Wait a minute... which Johnny?
Sorry Johnny, I'm from the Philippines. So social networks will do hehe
@@maaj9754 that’s not him it’s a fake account comment
It would be nice if he discussed the lack of regulation for the exchanges themselves. If the exchanges had similar regulations as the banks do then it would be a more investable asset class
Looks like another problem with crypto is bot spam
Muy bueno!!! Tremendo episodio 👌
So many vids in so little time thanks for the new vids
First time I write over here because this AZ500TX is incredible. You know that, right?
Wtf is Az5 ?
Scam
Scam
Report!!
🤣🤣🤣
The real existential threat to crypto is that it’s useless 😂
You're not wrong. It shouldn't be an investment thing, it should be a currency as in crypto currency... And I would gladly pay in eth instead of using god damn paypal and other crap
Then why is it being used?🤔
Its pretty great if you wanna buy something anonymously, like something that you wouldnt want the government to know about..
@@Impetuss that's not really true since every transaction is public and almost all exchange require KYC. Monero IS the exception.
@@shawn47240 what is it being used for then?
nice work.. understood a bit more about the cryptoverse..
Let’s talk 👆👆
Awesome!
I love the “conversation with yourself” style of videos!
Looking forward to seeing more!
Johny has been pumping out top notch videos every other week. But this here, is on a whole new level. I aspire to get to this level.
I think the biggest issue with crypto seems that it doesn't have fundamental value, it is more like speculative value.
All I see is that people buy crypto so they can sell it after, not to spend it like traditional currencies which is the reason why a currency existed in the first place.
It's a hard sell on using it for spending because of the volatility. Either you spend some today and tomorrow what you spent is worth double so your purchase feels more expensive or you receive and it's worth half tomorrow so you lose your profit and value. There's risks on both sides of the transaction.
For buying and spending it should be rock solid like USDT where 1=1 permanently.
@@Kraken9911 Couldn't agree more.
But it's better to be rock solid or tied to a real thing like gold or other precious/rare materials than a traditional currency that is more susceptible to inflation.
Super helpful, thanks.
Dude wtf...
Your channel is litteraly a gold mine, I don't know what kind of geniuses you or your crew are, but wow man, I have been eating up your vid's like they were nothing, a 30 min vid is feels like a breeze because its so well maid.
Your kind of channels is realy what RUclips is all about, I fkn salute you!
One important point which was missed... you can't just transfer all that compute to another blockchain... you devalue those coins and the difficulty level goes through the roof. It's like Mansu Musa trekking the world on his way to mecca destroying local economies as he goes because he flooded local markets with gold. in this case, compute power. It's just not worth it for miners. Likewise, not worth it to dump everything on ebay.. the same devaluing happens.
Thank you for sharing this information with us.
Not really, ETH is nearing the end of the line (state capture/ security ruling), but the future looks bright for bitcoin imo. Johnny has poor understanding of BTC vs. ETH.
@@michael2275 BTC is too slow for wide adoption.
@@nighteule Lightning network for payments.
What a great video!! Thank you!
Let’s talk 👆
that whole skit of him discussing with his other alter egos sent me back to 2010 youtube
There’s more to it, and it’s pretty nuanced. You need to research Proof of Work, its benefits and why bitcoiners don’t want to switch.
Another fascinating subject is financing energy generation or stabilizing energy grids with mining.
Fr but not all proof of stake is subjectively worse than proof of work in decentralization. Ripple has a great proof of stake that does it amazingly
Bitcoin only!
Am I the only person who gets excited like a child when a Johnny Harris video comes on? Feel like a kid when my face cartoon came on. A true inspiration. Just love seeing a master do what they love.
Yes 😜
Same!
Same ✌️
Great vid but I did skip over the blockchain explainer bit, keep ‘em coming Johnny! 👍
Hey Johnny, where can I buy the night light globe?