From Bitcoin to DeFi (in 12 Short Years)
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- Опубликовано: 18 янв 2022
- Even if you’ve been living under a rock, you’re probably familiar with Bitcoin. Now, just as crypto disrupted the concept of value, decentralized finance is poised to disrupt finance itself. The populist movement promises huge returns for daring investors. But with DeFi’s promise of inclusion comes risk and uncertainty.
#Crypto #SystemShock #BloombergQuicktake
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Bruh, these people have never seen a line of code in their life and they are here talking about digitalization. Unreal.
Thats what I was thinking, a week after the audio of lubin talking about helping whales accumulate as much ETH as they wanted in the premine, anonymously, hes the first guy here
How'd you know they haven't seen a line of code?
Isn’t that the whole point? Like it was said in this piece, people won’t trust it for that exact same reason
"Monetary system hasn't changed for centuries" Gal never heard of Bretton Woods? And they are here talking about changing how money works.
I'm a fan of Bloomberg Quicktake, this literally watches like it was made by high schoolers
how many times did they talk about parties, and how many times did they explain the underlying societal issues that were going to change? They made this video for people who grew up in shopping malls and only react to hype
@@davidanalyst671 Somewhat most of these quick takes are based on how dense new information be conveyed about disruptive technology or what not to a mass that can understand half of what is said. BBC for one has been doing this since the seventies with science , gadget or new food industries. If you're young and from this era its natural it speaks to you in the way one can expect of current times. That is journalism still.
What would you add to make it more comprehensive?
Great point, let's see your video version of this... what don't have one or can't make one? lol!
Agreed ...its all hyping and raving without actually explaining anything.
No they are not solving complex computer problems. They are trying to guess a hash checksum by computational brute force by consuming high amounts of electricity.
Right? They say this because they believe that people cant understand.
Its like They're trying to decode the rosetta stone. Except the rosetta stone is more complex and meaningless... There.
I often tell people that Crypto is the "Scientology" of currency: Lots of mumbo-jumbo, tons of true-believers, and a handful of people getting extremely rich.
Proof of Stake vs Proof of Work,
tldr proof of work uses lot of electricity, proof of stake gives you more of a coin the more you stake it, uses a lot lot less of electicity.
Crazy.
how ironic. these metaverse believers actually prefer to gather and meet in person in a physical place
seriously
What’s wrong with doing both? I enjoy VR meets and I also enjoy meeting people in really life
See, people like you think that nerds are trying to replace the real world. We still love the real world, it's just pretty bleak and we like somewhere else to go to. If you have a problem with that, then maybe direct some of your hostility to politicians who destroyed the economy and the economic system and made it so it works for them and against us. They truly deserve some of your energy on how ironic they have been. I promise you, there is a lot of material for you to review.
"Metaverse believers"
Microsoft Facebook and twitter seem to believe in it
These Miami conference cryptos sound like cult members 🤣🤣
I've never been to a Federal Reserve conference or literally any bank, but I bet you'll find more cult-like people there. Remember, people from cults aren't willing to look at anything that may insist that their current system is somehow flawed.
Is this a 24 minute video filled from start to end with BuzzWords?
I wish I could see the dislikes so I could know this was a bad video before wasting 6 minutes of my life to find out.
same
@isle9 where?
@@ReyZar666 Vanced RUclips app for android
RETURN DISLIKE extension for browsers.
I believe it would be difficult to create a revolutionary decentralised system that can replace the functions of todays financial institutions without the two becoming very similar. It might alleviate some inefficiencies, but the end product will probably not be decentralised at all.
BINGO!
It’s not just some efficiencies, it’s about creating a trustless system that transacts without involving mediaries
More or less
Warning, who ever holds the most bitcoin can start loaning out. All of the sudden you got firms hoarding bitcoin. And you have a bitcoin bank
Why is this a bad thing?
@@luisbranger1133 it betrays the "decentralized" principle of cryptocurrencies ?
It already exists. Not necessarily bitcoins, but using smart contracts to process loans basically puts an interest rate on crypto.
As a consumer, if I were to say, “this sounds great, I want it” what EXACTLY do I get?
I’m not doubting the importance of any of these developments but goodness knows I’m none the wiser for watching this facile video!
As a consumer you get much higher returns on your savings and faster international transactions.
@@skulitom great. Where do I sign up? 🤷🏻♂️
You can become the middle man and make money off transaction fees. This is through a process called Liquidity Pool Providing.
@@sesetio338 You'll also get much higher apr/apy rates depending on which exchange, defi app, protocol. It all depends on your risk really.
@@pcparadox5042 I understand the difference between those two the issue is I don't understand what benefits what.
It's not decentralised. The people with the most crypto who influence the markets are just completely invisible and unaccountable.
influence =/= control. There has never been a system of money in the history of the world without outside influence. Even the US government can't stop outside influence on the economy. The goal (which has been achieved) is to remove CONTROL. In fiat currencies, the people who influence the economy can also shut it down if were to benefit them. (see: bank runs)
the blockchain is decentralised... doesnt matter who owns the coins . blockchain is way bigger than just crypto tokens
Pump Pump Pump the shitcoin!
Thank you quicktake for this.
"I tend to believe the latter." Facts!
So much vapor that sounds like the beanie baby craze of the 1990s, just insane
and whats up with the half life sfx at 9:53
I’m NOT the arguing the effectiveness of Blockchain, it’s most definitely the future. But all this hype does scare me a lot.
Thats not the future
Every new tech has this perspective
Me too
Scared is the problem. Life.
Blockchain hype will break at one point. After that, the technology will be utilized where it's needed.
How is bitcoin democratizing if you now need huge farms of computers that cost 15k a piece? That doesn't seem accessible at all. Genuine question here, I'm an EE student but I can't wrap my head around this part of it.
Those are miners, they get paid by processing transactions.
Instead, look up how much it costs to actually write a piece of information/transaction into the blockchain (e.g. Gas in Ethereum). That'd be even more difficult to wrap your head around...
@@deep.space.12 It seems to me like blockchain and cryptocurrency is quickly becoming something that only big corporations has control over. Exactly what we dislike about banks.
@@mohi0ne306 how so what? I asked a question
@@mohi0ne306 “if you now need huge farms of computers that cost 15k a piece” right there in the beginning of my comment buddy
The average person doesn't need to mine, however mining is essential so someone should do it and they get compensated for it. Crypto is democratic because users make up the rules not an oversight regulatory agency
What a terrible video with collection or random sentences. Was it created by a teenager on a smartphone? Shame on Bloomberg for such a low quality material.
It’s called vaporware brah
They explained so cleanly
I love the complete use of random clips and fast talking without actually saying anything. Love the obnoxious music the jokes the complete lack of professionalism. Beautiful piece terrible reporting and horrible editing.
this is by far one of the worst videos I've ever seen from Quicktake
There was a lot of information packed in here to introduce you to crypto. Seems like a lot of it just went over your head, maybe because it is too tightly packed in.
Chill buddy
@@Jimsimi it was buzz words. Alot of empty sentences
@@Jimsimi I'd rather say this video was probably intentionally made to illustrate how blockchain hype always worked by drowning unprepared minds with this flow of terms selected to sound technological and futuristic.
Nothing of meaning was said in this video
For me at the end banks will control this for the majority of the people, people does not want to take the rssponsability about loosing their money by loosing a password or downloading a malware, etc. So the banks will bring security for them.
Based on this comment I can say you probably do not understand how blockchain works
@@aguven basically you don understand that most of the people don't care about financial independence they care about being safe.
@@ivanosalazar So, you think the classical banking system is safe? I dont know you, but when banks collapsed, I never saw common people's money being returned. Yes for sure there will be some mediators for people who do not understand it. But it beats the purpose of block chain.
@@ivanosalazar Quick question for you. What is safe about fiat currency? It has no intrinsic value. Its value is constantly and intentionally being depreciated. Crypto and blockchain brings decentralized finance. It can not be manipulated by governments and banks, like the fiat money. If banks control the entirety of crypto-market then crypto is de-facto the same thing with fiat money.
@@aguven I agree, and I think that crypto specially coins that can not be printed as the fed wants or deflationary ones are way better than fiat, but what I am saying is that banks will evolve and they will hold cryptos for the majority of people.
Awesome! Thank you :)
I know there are already companies trying to sell tokenization as a service for verification purposes (essentially turning real world items into NFTs traceable on the blockchain) to prevent knockoff products from circulating. Imagine a gucci purse that can be scanned with your smartphone via RFD. Tokenized assets for things like like drone verification that meet FAA standards (essentially a token that functions as a license plate) are already developed on-chain too. These technologies seem hugely relevant to the future, regardless to the price of any one token.
Looking further forward, think about something like sanctions through the lens of crypto. Currently sanctions often face retaliation, but think about if a sanction came from not from a nation state, but from a crypto governance panel (DAO). How much less effective would it be for a nation to try to retaliate against a decentralized everywhere?
Blockchains are permissionless, no one can sanction you, a DAO is just a set of smart contracts to control token issuance for specific goals, and so is a niche application that does not control the blockchain
How to I demonstrate my ownership to have a physical product tokenized into the blockchain? Who gives them the authority to do the authentication? How to demonstrate a physical item is unique and authentic? Do you like, hash the item's quantum wave function?
Dreamer reppin DFK 😍😍
Thanks
Cryptocurrency, as it exists now, does not function as an effective currency. It is too volatile to use as a store of value. Transaction speed is too slow for practical use, as is demonstrated by the lack of retailers that accept it. The amount of energy used per each transaction renders it unscalable. The hardware waste generated by it make the long term prospects for it very poor.
Overall, this video seems to gloss over any real concerns in the pursuit of sensational coverage of the subject with absolutely no substance or real information.
Your comment acts as if stablecoins dont exist...
All the issues you mention are being worked on. with solutions already found. The crypto space is constantly evolving.
@@nathanbustamante1479 Stablecoins, as they exist, are little better than a ponzi scheme given the demonstrable unreliability of their issuers and backers.
@@mateosabando Contact me when I can perform a transaction with the same efficiency, speed, and protection of a wire transfer or credit card transaction
@@casacara LOL. Yeah USDC totally isn’t an audited American company? Did you just make that up!?
We made it in the video! Skip to 19:50
Lets gooo 🔥
The Best 💪
Awesome 🔥
LFGGGG 🔥🔥
PNFT 🔥
I think energy intensive solutions of contemporary problems is best way to make sustainable present and future
thanks for the video
this video made me feel like my phobe alarm was going off with the background music at parts.
That's crazy greetings from PERU
First guy is being investigated by the sec… lol
this a 30 minute show, how is this a quicktake?
I see Crypto is more of a " catalyst " than as a " replacement " of Finance though.....🤔 Or is it just me ?
R.I.P CB!!
replaces the financial backend
Just you
Financial institution as blockbuster and crypto is Netflix. We all know what happened to blockbuster
Just how reliable are these smart contracts? Like any technology they are fallible.
What do you think will be the biggest impact from Web 3.0? Or is it mostly hype?
Hype.
Shitcoin.
Crapto
Listen to these people. Sound like the old Amway cult. 😵💫😵💫😵💫
@@TheRustyLM this is like Web 1.0 , you can heard same kind of blowhards as back in the day web2.0 was more civilized , I guess if there will be , crypto 2.0 will be somewhat useful
Web3 will usher in the migration to an all-digital and highly automated global economic system built upon the the internet.
Not much hype. And the hype that does exist is mostly justified. This will be like going from 1.0 to 2.0. lots of fud.
Biggest impact will be more meaningless buzzword journalism by bloomberg. This is the emptiest video you made so far. What a shame
When it comes to the world of investment, most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance
Personally as a first time investor, i started trading with Mrs Sharon Laura with $1,000 now my portfolio is worth $5,400 within the space of few months trading with her
A friend that i referred to her from UK just received €9,005 profit after 14 days of trading just jealous ASF LOL
bot
anyone else see some irony in a Bloomberg-created crypto doc
ABSOLUTELY, ŸÊÃ!✊🏼
Most people in crypto want to be rich only a small percentage are in for the tech and innovation.
I am in for the money.
Crypto folks still benchmark the value of their holdings against the US dollars.
Don't you see the irony?
Not for long. Lightning is here. Satoshis will be the measurement.
agree with Mark Whitehouse
I honestly trust my government more than these nameless "software" guys.
-Software Guy
For as big as ETH is, most people who play around in DEFI avoid it because of the gas fees. There are far quicker and cheaper L1 platforms.
Multivac is my favorite L1 but pretty much nobody knows of it yet. Much better tech than ETH
@@puffpuffpass3214 I feel like could pick any other L1 and it would be better than ETH. I like HBAR. Not Blockchain, but hashgraph.
No transaction fees LOL
that Brock guy is why some people hate crypto
Timestamp please
I absolutely should follow ya. Hope to see your thought on the Streeth next time. Your idea is the only thing I'm waiting for to buy some $STREETH.
The days of greedy banks are numbered.
Guy at 17:35 looks like old version of BigHead.
Nice video very engaging from the beginning to the end. Nevertheless putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for.
Yeah. 😐
A great work demands a great sacrifice.
Nothing comes easy unless we really strive for it
Success usually comes to those who are busy looking for it.
Speaking of investments, I have been finding a tough time deciding between mutual funds, real estate, and crypto investments, anyone with ideas to help me with?
2:35 gal never heard of the Bretton Woods agreement? Literally living under a rock.
10:00 nirnroot?
I'm here for the bloomberg quicktake a e s t h e t i c
bunch of salty old men discrediting a technology that will replace most of them lol
Omg!! Just go to 20:55 and you will love the next 60 seconds. 😂😂😂
The Defi 2.0 project on Ethereum layer 2
When there's a crypto rush don't sell bitcoin sell RUSH tshirts
Amen and hallelujah, ŸÊÃ!✊🏼
DeFi is the future
intro song name please
Even though DeFi poses a threat to finance i believe the benefits outweighs the risks. You just have to chose right project to work with. For spot trading, lending and borrowing services i work with and trust Unilend finance they do an amazing job.
It will be interesting how far governments will achieve regulation
What about chia?
Blockchain is a ledger, and a potentially effective one, but it is not a currency. I don't pay bills with bank statements. If I can't pay my bills in the same currency I get paid in, it's friction that requires an exchange through a regulated entity. We've had the ability to make a global currency for decades, and there are realistic reasons why we have not that blockchain enthusiasts continue to ignore.
This 👆🏻exactly
Still waiting for a problem that only crypto can take care of.
If you want a completely open system where every transaction is public information, crypto is what you need.
supply chain management and and anti counterfeit measures are already done through NFTs by big companies like BMW and Louis Vuitton.
@@ReddoFreddo Huh. Perhaps the stock market should be based on that kind of tech. So that nobody can hide their insider dealings and such.
@@ReddoFreddo if everything is public information, isn’t that the most unsecure thing on the planet? Why would you democratize your wealth?
@@Dschinghiss "Supply Chain Management ", that is the most vague answer ever, SCM is a very broad subject, inventory, logistics, scheduling, security,
you said absolutely nothing with your answer. Please tell us an actual use case e.g. "Cloud services like AWS offer small companies a way to host software without having to build/own physical server infrastructure. Companies can pay-per-usage". Please be more specific!
Paradigm shift!!!! 🤗🤭🥰🦋🌈✨👣💕
Coloring of the video was definitely off.
You gave up your freedom when you took that cell phone now they own you no matter what wallet you have or have not
Scammers 3.0. I don’t know why people would trust increased financialisation when that’s what’s caused so much of the problems in the economy in the first place.
Those mine the largest share eventually control the network what's the point of decentralized.
To the best of my knowledge, "min[ing] the largest share" is insufficient to control the network. You don't need to just do more than anyone else individually, you need more than everyone else put together, i.e. an absolute majority: >50%. On your own. While this is a potential problem, it is my understanding that such a feat is practically infeasible on any coin with a large enough following to be viable. (With the possible exception of coins that were specifically designed for their creator to control them.)
It should be from Bitcoin to Bitcoin.
Sounds like they want to create buffers to limit risk in Crypto investment.
"shiba inu community wants robinhood listing has called on robinhood to list the token for months now"
Right now crypto is for geeks. Mainstreamers can buy some coins but with web 3.0 most norms won’t get it because it’s up to the individual to put in the work to learn how to put ones money to work.
Massively decentralized... my arse. Who runs the blockchain? 51+% processing power is owned by how many companies? Do you access the blockchain directly? If not, practically through how many company's API's can you access it?
You should see what proof of stake is. It will answer your questions
Ripple Labs is the heart of DeFi .. Everyone can afford XRP , transact XRP , & this makes XRP the IN YOUR FACE BITCOIN / ETHER KILLER ..
Nothing is real and nothing to get hung about. strawberry fields forever!
So much wasted power and heat from mining in todays climate, BUFUs all of them in this vid.
Interesting. . . . . . If I could go back in time. . . . just to 2007.
U guys are the best in media 👍🏼
I am thinking to bring a decentralization revolution in my country
Oona “There is enough space for everyone in here!” Great artist now selling some works as NFT’s
Buy them while you can.
Defi is "full service shadow banking with nobody in charge". Or - trustless, permissionless, autonomous. Sign me up.
Gente: I would like 1 bitcoin por favor.
Platform: ok that'll be 5 trillion quetzales.
XRP 📈📈
Ah, the Windsors and NSA again.
long live crypto, gave me an opportunity to get on my feet.
Mpesa invented in Kenya 🇰🇪 is where bitcoin came from. Bitcoin is just the 'west' version of Mpesa.
This has got me pumped
Banks vs Ai
Investors just need another product to rake in money at the cost of conning naive with jargons.
That thumbnail is 🔥
Who is the DAVID SPADE Look-A-Like
After this video im still not sold of the idea of decentralized. If crime committed who's gonna be responsible plus the framework is just not there at least for this moment.
it is there and it is working what do you mean ?
2:50
This is not folding@home, hon. Solving these "increasingly complex computer problems" doesn't actually solve anything.
Horrible times of psychopaths coming
Hello, I'm new to Biticon trade and I've been making huge losses but recently i see a lot of people earning from it. Please can someone tell me what to do?
@Albert John How can someone know a professional account manager that is trustworthy when legit once are hard to find this days.
Same here, My portfolio has been going down the drain while I try trading, I just don't know what I do wrong,
funny how no one could explain web 3
I like crypto but at the end of the day is for you to lose so i can win, eventually is like trading market manipulation