Crypto Skeptic Ben McKenzie on Latest Binance, Coinbase Regulatory Woes
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- Опубликовано: 17 окт 2024
- Ben McKenzie, Actor, Activist & Author, “Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud joins Bloomberg’s Tracy Alloway and Joe Weisenthal for a live podcast recording of “Odd Lots” at Bloomberg Invest New York.
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Why didnt they ask him how Gensler met with SBF numerous times leading up to the failure of FTX and did nothing to "protect" investors like he claims to be the champion of. He is a complete disgrace.
He is, but that is no reason why he and the SEC cannot sue these exchanges now, right?
It isn’t that simple. Once you start regulating something you legitimize it. So there is an argument for leaving it alone. Its not always the governments job to protect the gullible and greedy from themselves. Not saying that’s right in this case - but its an argument.
Crypto bros here seem to keep forgetting Terra Luna, FTX, and Celsius. Why?
FTX & Celsius are not actual crypto - they are akin to Wall Street firms masquerading as crypto.
True crypto is about self custody, decentralized finance & trustless/immutable protocols.
Keep reading mate, you’re about to miss the biggest opportunity in a millennium.
They can’t trash talk the thing they’ve invested money into. If anything, they’ve gotta keep recruiting people and maintaining a good image. They’ll shill for it until they’re dead
@@mrpoopybutthole9313 Or perhaps there is nuance in understanding how those centralized crypto companies operate versus what is ACTUALLY crypto.
Because they aint Bitcoin, Bitcoin isnt controlled by anyone like all the others you listed
@@jakeicloud , oh yeah, BTC is not crypto argument. Lol.
I never met a person who wants crypto for paying online or some hard cases. It is always an investment for a quick buck. Which is fine as long as they are treated as stocks not currencies. Ben is so right
@roc7880 Our app accepts global payments via crypto because it’s faster, cheaper, provides instant settlement & is irreversible. As such they’re entirely currencies, not equities (stocks).
It’s also why we pay some of our developers overseas.
There are infinite uses of blockchains and the crypto that supports them. Saying they’re useless is like saying software itself is useless.
crypto is upcoming technologies you're investing in blockchain technology, which is being adopted by everywhere. And I'm sure you're using it right now. And don't even know it, and it's spreading. Its tentacles throughout the financial system supply chains AI.
Cloud Storage data services, medical systems, there is only a few that are actually currencies. Bitcoin is made to stay away from the governments and big businesses. But yet they're pulling it in, and they're gonna try to control it. And it's a store, wealth for corporations and governments, you get other ones that are more suitable to peer-to-peer payments and you get other ones that are infrastructure for web 3 and web 2 is pulling it. In you're in, I think people need to do their homework. And if they're going to invest in the crypto, they need to do their homework and realizes it's not Wall Street. It runs on an entirely different. There's no participation trophies here. You either get it right or you lose.
Perfect. The incovenient truth.
Yikes. This was the most uninformed interview on crypto I’ve ever listened to.
This guy has no clue what's going on. Hes upset because he lost money, and he thinks hes smarter than everybody else. Even others, more and more correlation to the bigger markets. Every day it still runs on a separate cycle. He thought he could put his money in. And just leave it and come back and have more money. At some point, no, it runs on a cycle. Even though if you would just for inflation, you're still ahead if you invested in 2020. Even though you have went through the crypto summer into the crypto winter. It's not a crash crypto didn't crash crypto. Go through its seasons, and you're not just investing in occurrency. Bitcoin is a currency for the wealthy to store their value. You to have it hedged against inflation and government congovernment confirmation. There are others that are infrastructure for technology cloud storage data services, medical information, metal AI infra structure. I think other people need to do their homework is well. No offense, but crypto is the investment into the future of a data world data-driven world.
@@davidarnold2718
He didn't lose money and he is smarter than many people, including, clearly, David Arnold.
You should listen to the interview. It's interesting toward the end where he identifies some of the crypto industry bigshots as being veterans of the television and nline poker scams of ten to fifteen years ago.
Do your homework. You don't have to be the sucker you've shown yourself to be here.
16:13 when fit hits the shan is a good one. 👍🏿😂
I often think about how much money I could lose in crypto, but then I realize that I've lost so much more in payroll taxes.
I love that you can just brush off your economics degree and become an expert in something.
I guess that is the power of being an actor
I like Ben. He's talking a lot of sense, but, honestly, I still like the crypto market. Most people shouldn't get involved. The value isn't in the coins. It's the networks and the protocols. It's the fact that it's basically impossible to regulate. It will never crash to nothing. Beyond all the fraud and dishonesty, which is certainly in abundance, it still has utility. Let it be the sandbox that it is.
excellent work!
Not really. Horrible takes.
HE LOSS ALL HIS GOTHAM BATMAN MONEY AND HIS WIFE LEFT HIM
HIS SO CALLED FRIEND PLAYED HIM😂😂😂
There are so many crypto skeptics and you got the one who seems to understand crypto the least?🤦♂
So he bought at the top and to cover his losses he wrote a book about how bad crypto is.
Not saying there isn’t shady stuff that happens with crypto but this guy has limited experience and knowledge of the space if he first got in during 2021. Also simply having an undergrad degree in economics you got 20 years ago doesn’t make you qualified to write a book on money, especially when your career path had nothing to do with that.
AWWW DUMB BEN BOUGHT AND SOLD AT THE WRONG TIME😂😂😂
The creator of C programming language, Honorable Mr. Dennis Ritchie said in one of his videos, "that Bitcoin has made mockery of his programming language and it has been misused to the core.
He was very upset that his creation was used for ponzi scheme of Bitcoin."
Which video?
That's mental.
blunderg, fix your sound ffs.
How is an actors opinion relevant on this subject?
He has an economics degree, right? He also studied this specific subject. I think degrees and studeis don't countmuch now vs. crypto bros who listen to YT bros.
@@lug.5329 you're right, degrees mean sweet nothing when you choose to be an actor instead of putting in decades worth of experience in economics. I bet you thought you were real smart with that answer.
@@KO-gu6wp , and answering this gives you a degree in economics. I bet you were proud of yourself with yours. Lol
Jesus.....the sound quality
Ben really needs to stick to acting lol
I think he should stick to acting.
Everyone has their opinion.
Well he isn't really wrong. I mean we see with FTT that these fraudulent coins can be used to create leverage that doesn't really exist. The thing with cryptos is that often times all of the new underground crypto currencies act essentially like penny stocks trading off at fractions of a dollar and people say" oh well if I spend $10,000 on a $0.10 crypto it amounts to 100000 individual coins", these people buying these coins then say "oh well if it goes up to a dollar I make $90,000 dollars in profit" what they ignore is that that would be a 900% increase in value. That is a crazy return and remember that crypto is not like a stock it doesn't have value tied to a corporation and its successes. Crypto often is completely a marketing industry which can be very very risky.
Ben must have an ace promotional agent.....
Ben is clearly a very bright lad, and has done his homework on this huge stupid scam.
Did he say he talked to Celsius CEO? ... well then he got the proper source for his book ... Not! 🤣
Lol got into crypto 2021 and deemed himself enough to write a book
crypto has been around for 15 years and what can it buy now apart from illegal drugs or child p*rn?
Seriously. It’s astonishing takes like this are getting exposure.
He spent two years investigating crypto. What more do you want?
@@temporarystranger95 lol are you serious? People spend 4 years in college and don’t learn a single thing. If you are into crypto, it’s plain to see this guy is an absolute clown just trying to sell a book. Don’t be so naive.
@@temporarystranger95 takes more years than that. I've been in crypto for 4+ years full time and now entering deemable expertise. A real expert competency can't be reached in 2 years
Word salads from an actor who has zero technical knowledge
Ftx sbf had tons of word salads for years practising effective altruism. The whole crypto market is built on word salad. A fact: 90 percent of trading volume is in centralized exchange. Most of these founders make most of the profit (they are billionaires with no real technical knowledge on blockchain. Defi is supposedly the tool to replace banks (central exchanges are practically banks, exchanges, brokers and clearing houses combined into one). Sbf built his ftx based on word salad.
@@ps3301 both are out of their depth
I think this Bloomberg conference is an obscene waste of electricity. There should be a 30% tax on Bloomberg conferences. In fact, no, they should be banned.
RUSSELL CROWE WANNABE 😂😂
The funny think is now all they saying interview was wierd,this and that where were you before ? Why you didn't say ba k there something was wrong,instead you called him Crypto King!Joke!
Interesting that even though you claim this market is too small and unimportant, you did an entire episode, the guest wrote a book on the subject, and almost every one of the conversations posted touches on crypto. But I repeat, this market is insignificant
it's insignificant considering that if crypto disappeared today every top 20 member countries economies wouldn't even move. So its insignificant and most people aren't buying it outside of the chronically online world.
Well it does nothing useful, so there's that.
one of the top frauds in crypto said that out the 1 trillion assets in crypto only 10-15 billion is real
If you selling something,,,to make it to belived your story now,,,I will not buy anything from you,,,,
What market isn’t risky? Stock market is risky, restate is risky. The guy who is taking already has good money. We are a race that keeps Evolving we replace old things to make them better
stock market is regulated.
"A well known actor"
He's pretty well known lmao
@faneulis266 so if I walk up to ten people on the street and i ask who ben Mckenzie is how many will know?
doesn't matter millions of people still know who he is@@billflipper1130
His acting must be getting slow. Now he's a crypto expert..lol
Little knowledge on Energy use.......almost sounds like he was paid....mmmm....
Emotional investor. Emotional writer. The worst type to write a book about financials and crypto...
Actors like this random guy are smart. We need to trust our unelected officials to be our monetary overloads.
Man this guy has no idea what he is talking about! He clearly got burnt by not investing at the right time
its clear that the crypto markets will have an infinite number of boom and bust cycles but blockchain tech and a distributed ledger is and always will be immutable. Therefore it cannot go to zero. The real question is will each consecutive cycle be larger than the previous one. My belief is yes. Buy and Hold and let governments and central banks inflate your bag into wealth. EASY. Buy the FUD.
Blockchain is just a hashed linked list, it's nothing special and we have been doing this for decades. Crypto is not blockchain, it uses blockchain, but otherwise is just open source software that can be repeated, replicated and manipulated, and is not money, nor does it have any value itself.
@@foxmoongazePlease be quiet, you're ruining the after-party.
@@foxmoongazeThe value of each blockchain’s native currency is pegged to the value of the applications running on each chain. The currency exists to introduce game theory (economics) to prevent spamming the network.
Keep reading mate, you’re uninformed.
Immutable? You are lost bruh
@@roc7880 If it’s not immutable, it’s not a blockchain. Hence “CHAIN” the thing that can’t be broken.
Is this some kind of poor taste joke? "Buy my book to avoid being duped and be duped by buying my book"
Lol, no “real” liquidity eh Ben?? Well, I guess my house, 2 cars and everything else I’ve acquired free and clear of any debt must have been paid for with shillings from the sky then…. Stick to what u know my guy… liked u better when u were Ryan from the OC but I’ll listen to anyone try to go through a bunch of mental gymnastics to validate their opinions🤣
The counteroffensive was drowned in the blood of the Armed Forces of Ukraine. Why Zelensky needed to throw people and equipment for slaughter for the fourth time, I don’t understand.
Everyone is talking about the burning Leopards and M2A2 Bradley tanks. By the way, the military of the Armed Forces of Ukraine call the Bradley BMP - a coffin on wheels or a matchbox, because the survival rate of the crew is 25% from a quick fire and the release of acrid smoke, the impossibility of field repairs, equipment not for combat but for an exhibition. But now it is clear why the United States did not want to transfer its legendary M1 Abrams tanks to Ukraine, and they deftly framed Germany with their leopard tanks. Also, Great Britain insisted that they not send their Challenger 2 to the attack (there is information that they agreed to sell one unit to Russia, leaving it in position).
Also in this suicidal counteroffensive, the overrated
- HMMWV - Humvee (according to the Armed Forces of Ukraine, worse than the Soviet UAZ)
- MRAP International MaxxPro (high fuel consumption, frequent breakdowns and fires)
- FV4333 Stormer
- APC "M 113" (easily penetrated often breaks)
- FMTV (sharpens on slightly damp ground, high fuel consumption).
But these are still flowers, remember the transfer to Ukraine of the MIM-104 Patriot. So, one of the two was destroyed, and the second was damaged, all the ammunition was spent on trying to shoot down Russian missiles, there are many videos on the net of how in Kiev they fall on passing civilian vehicles and residential buildings instead of hitting air targets. There have been attempts to shoot down drones of the Geranium type, and they cannot even shoot down.
The UAVs that the US donated to Ukraine are the Boeing Insitu ScanEagle, Switchblade, and Phoenix Ghost. Russia intercepts 99%, some planted in good condition.
We can say that all the equipment supplied from the United States for Ukraine became just scrap metal, and all its advantages were just a myth that dispelled on the battlefield.
Yes, I forgot about - M142 HIMARS and its European counterparts, at first caused problems, especially using Starlink, the efficiency was great, by the way, it was used to cause damage to the Kakhovka hydroelectric power station in the fall, the accuracy was at the height of the hits, spillway locks on platinum were damaged. But at the moment, most HIMARS missiles are intercepted and the launch sites are easy to calculate, for this reason the frequency of their use has decreased, and the Armed Forces often change launch sites and immediately after launch they try to move away from the launch site as much as possible.
This is why the US is afraid to hand over M1 Abrams and F16s to Ukraine. After all, the whole world will understand that US technology is too overhyped and most of the price is a way of money laundering (corruption in a word).!!!!
Immediately I saw Zelenskiy in your comment,I thought you were going to say that Ben McKenzie looks like him because that what I was imagining the whole day 😂
We need to listen to actors more....least not the guy that played the cool guy on The OC
Haha this guy is clueless. He knows nothing about crypto