Hollywood Star Ben McKenzie: Crypto Represents the “Golden Age of Fraud” | Amanpour and Company
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- Опубликовано: 31 май 2024
- The world of cryptocurrency is deeply flawed. That’s according to Ben McKenzie, best known for his starring roles in TV shows "The O.C." and "Gotham." He has since made an unexpected career change. As co-author of a new book investigating the rise and fall of digital currencies, McKenzie joins Hari Sreenivasan to discuss his conclusions.
Originally aired on July 18, 2023
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Amanpour and Company features wide-ranging, in-depth conversations with global thought leaders and cultural influencers on the issues and trends impacting the world each day, from politics, business and technology to arts, science and sports. Christiane Amanpour leads the conversation on global and domestic news from London with contributions by prominent journalists Walter Isaacson, Michel Martin, Alicia Menendez and Hari Sreenivasan from the Tisch WNET Studios at Lincoln Center in New York City.
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So nice seeing an actor tell the truth that crypto is a scam rather than see an actor promote crypto to fleece their fans.
How can a scam be going on for over a decade in the open with people calling it a scam all the time yet Bitcoin prevails... It's always the same. People who don't actually do research keep repeating the same thing in the same cycles ... Starts with a bull market and you lot screaming scam/ponzi at the top of your lungs, then the crash with you screaming "see I told you so I knew it" ... but every time Bitcoin picks up again where it stopped and pushes higher, with your ignorant calls of scam all over again. And ever time bigger players are jumping in ... This time it's literally the largest financial institution in the world who is building investment plans for their clients and you people are still screaming about Ponzi and scams.
Look at the bigger picture and educate yourself so you don't become another sucker who fell for the scams in the crypto world.
We are in a new world where people have to take accountability for their own action ... That's the point of being your own bank and nobody telling you what you can do with your money.
The #1 financial advisor in the country disagrees with Ben. Where do you think the smart money is?🤪
@@tommyw.7855 Are you still trying to sell that scam?
@@user-yq2wc2ug8m You wouldn't know a scam if it showed up in your wallet lmao
more like an actor giving his extremely biased and quite shit opinion on crypto. Dude makes no sense in every video that he's in i can't belive people actually listen to him.
Crypto and Trump, two biggest cons of all time.
I'm glad he wrote this book. As an ex stockbroker, I also know that many forex companies run "website exchanges" that are also rigged to the owners. Trading commodities is risky on its own but when there is also sales pressure and unreasonable spreads (the money the owner takes between the buy and sell price), it is a loss for the "investors". There is no get rich quick (unless you know how to build a site, market it, and live offshore). That takes a lot of investment up front. So, I'll say again there is no get rich quick but you can make fantastic money over time if you are a consistent saver. The more you save, the bigger your account grows, the more and the easier it gets to make money. The key is to be financially literate and save as much as you can while you are in your 20s and 30s.
I'm not a stockbroker, never have been. As a 53 year old black man, the whole damn system is rigged, to keep poor people poor. Saving your money is the fool's game. Inflation destroys your savings. Banks do nothing but rip people off. I know for a fact a lot of people don't have bank accounts because they can't afford to have one. If you go overdrawn, they charge you a ridiculous fee. If anyone is paying attention to what's going on with global finances, the rest of the world is pretty much giving the US the middle finger when it comes to crypto. Politicians and the 1% of wealth holders is trying to save their wealth, they don't want things to change. Sam Bankman Fried met with government officials and they let him get away with what he was doing. this guy is a POS.
McKenzie is mad because there's winners and losers. And he did not do his homework. He thinks hes smarter than everybody else. So since he lost money, it must be a scam. That you know darn well, for people to make money, other people have to lose money, there's no participation for a feast, and a crypto is not just a currency you're investing in the future of a data-driven hold. Yes, vesting in cloud storage data services. Financial services that are spreading their tentacles throughout the world. It was meant to be a parallel system. But it everyday has being integrated, and it is not a get rich. Quick scheme, it's just so happens to have enough volatility that people can buy the depths and sell the tops. Volatility is our friends.
Thank you for your info🙏🙏🙏. My sister was offerred to do valas trading via app. The company who issued the app said that they would provide a 'mentor' to guide you in picking which currencies to buy or sell. I'm suspicious, and your comment confirm my suspicion.
I have a hunch that this guy knows what he is talking about. His skepticism resonates.
I have a hunch that you are a fool. More for me 😜
he really doesnt know shit tho lol
He has no idea what he's talking about lol
😂
He comes from a very smart and accomplished family. His uncle Robert Schenkkan won the Pulitzer Price for his play, The Kentucky Cycle, which played on Broadway starring Stacy Keach. Robert also appeared in 2 episodes in the first season of Star Trek, The Next Generation. His character, Dexter Remmick, was horrifying melted with a laser to kill an alien mother parasite in his body. Another uncle Pieter Schenkkan is a very successful attorney. Ben's grandfather Robert F. Schenkkan was a founder of Public Broadcasting in the United States, a Professor of Communications at the University of Texas at Austin, and the General Manager of PBS stations KLRU-TV and KUT. These are just a few of their achievements and awards.
Wow!!! Thank you for that background info!!
So that means what?
Too bad the apple fell on the other side of the continent for Ben. He doesn't know WTF he's talking about when it comes to crypto.
THE FUCK DOES THAT HAVE TO DO WITH ANYTHING HE'S TALKING ABOUT LMAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
@sjbock Thank you for the info. Apparently, he came from a family who put education in high regards. No wonder he chose Economic major, not artistic majors like most of actors.
Nice job, Ben. Very interesting. Very insightful. It looks like a worthy read.
Ben is a fool and so are the people who listen to him 😜
It's a load of nonsense from someone that tried shorting BTC and lost lol
Sanity. Finally.
He's a great actor! Glad he's doing other things too!
People like you miss out on this great opportunity because you listen to people like Ben🤪
Listening to an actor for financial advice... nice!
@tommyw.7855 and @literallywhathuh how lame are y'all for thinking igaf what you said or think, lol I wouldn't know or care what bitbullshit is. Like millions and millions of others. 🤷♀️ but you do you, keyboard warriors!
Excellent! Thank you! I always knew in my gut that it was bull. Logically, it just never made sense to me. It's nothing, and you can't make something from nothing. I feel bad for those less fortunate that lost their money. Thanks again!
If this is what you think....then what are your thoughts on the US dollar? Lol.
@@Neenjah26What are YOUR thoughts on FDIC? 🙄
@@elainedaprano9130 it's one giant sham just like any other insurance in any moment anytime it's the rules regulations or laws that original sin place don't see fit for their needs or wants and completely change it
Remind me in 2 years.
The relationship between external factors such as inflation data and the Federal Reserve's decisions and their impact on the cryptocurrency market, particularly Bitcoin, is truly intriguing. As the financial landscape undergoes rapid transformation, it becomes crucial to recognize the increasing significance of alternative assets like Bitcoin and embrace adaptive, innovative approaches. In the midst of these market shifts, it is commendable that individuals like Tammy Brockman are thriving by utilizing effective trading strategies. Her success in amassing 32 BTC within just three weeks highlights her profound market knowledge, expertise, and well-deserved reputation as a visionary in the world of cryptocurrency trading.
My growing love for crypto caused me to explore until I came across Tammy Brockman Crypto(although I'm trying to avoid sensationalism) she is by far the best. No hype for hype's sake, but great inspiration to trade Crypto.
The fact that i got to learn and earn from her program is everything to me think about it, it's a win win for both ways.
Due to the resent fall in the crypto market, I don't think it's advisable selling, it would be more beneficial and yield more profit if you actually trade with Tammy signals.
Everyone needs more than than a Basic Income to be Financially Secured in this present time that there's an Economic Decline.
Tammy literally saved me, just before the crash she advised me to get out of my long position. I'll recommend her any day.
Oh my! Ben is my new hero. An economist who speaks the truth with knowledge AND integrity. Thank you Amanpour & Co!
Amanpour and company are going to keep you in the poor house🤪
@@tommyw.7855 Still scamming, aren't you buddy?
@@tommyw.7855 hate to tell you, I’m far from the poor house. I just believe those who have should pay their fair share of taxes, which I gladly do! No one should be poor because the system squeezes them not the rich!
I've heard Ben speaking on this matter a few times and found his take illuminating and credible.
That’s because you’re easily fooled 😜
Brain dead mfers be like:
Something about crypto always rubbed me the wrong way. Yes, that's easy to say _now_ but it's true nonetheless.
The whole situation reminds me of when a good friend once got sucked headlong into Amway (lol). As they do, he relentlessly solicited all his friends and fam but weirdly _never once_ tried to pitch me, probably sensing I'd shut him down immediately and it would eff up the friendship.
Excellent interview. Thank you.
#GOAT
Criptos are such nonsense.
Thank you
I've always felt cryptos were a total scam. I have never understood why people have bought into it!
Honestly, I would rather BARTER than trust this SCAM!
BTC is the best performing asset in the last decade, you cant argue that fact.
Excellent discussion!
It figures the guy who played Young Jim Gordon on the strange mess of ham and Camp that was Gotham was one of the first people to put the screws on Sam Bankmen Fried. I swear it feels like this world has become a parody_ of itself sometimes.
Glad I never had the guts or extra income to buy and trade Crypto. I knew I’d have to treat it like a hot stock since NFT’s made it look so shaky, and as a guy who never traded stocks how was I supposed to do that? When do I buy in, and when do I fold and trade in my chips?
I admire him!
You have low standards 🤪
Admire him when he keeps your poor lol
Cryptocurrencies are spun out of air( ones and zeros) and not linked to gold. They have value due to perception which means they are not a tangible stable asset to be used for investment.
What do you think paper money is? They are just printing it into oblivian & destroying our wealth.
Google fiat money, you clueless dork.
Enjoyed the book he coauthored. There is a screenplay in this somewhere but a cautionary tale none the less of our time regarding money and what is true currency. Great work on their part
Someone needs to pick my jaw up off the floor! This interview was shocking!
11:42 and I think the criminals are the ones buying our data from websites cookies - I want to punch Elon in the balls for saying just accept the cookies!
You have to love it when people get their financial advice from an actor who gambled all of his money and is now trying to sell a book to recoup it…. Nothing to do with bitcoin, just incompetence from an actor.
Did he even read the bitcoin white paper?
good man!
Well said
#90210Forever
What he says at 7:20 is true
11:42 so basically ftx was just a laundromat caymans, Switzerland, Seychelles Greece?
Crypto hasn't changed. There were a bunch of speculators, then a bigger bunch of dummies. Then it went back to the price it should be.
Bitcoin is gonna grow more and more until no one will buy them any more and then it will disappear and no one can cash in... the question is when.
Very impressed by Ben and his ability to explain a complicated topic in an uncomplicated way.
Look, folks...the solution is SIMPLE. You don't need tough laws. You need people to be taught How to think. Secondly,. You need to motivate people to choose good morality. Otherwise you will NEVER stop scammers andy swindlers...never!
There will always be scammers. And there will always be people who get scammed.
hm yeah crypto is super sus. i know some people who lost out from it.
for once we see an actor that is not self absorbed and plays an influencer.
I find politicians are more self absorbed than actors.
This final comment where he compares one of SBFs employees being able to modify a piece of code to act against the users wishes, with the trustless nature of bitcoin, is the give away that he fails to understand how Bitcoin works. SBF was running closed source code on a centralized computer, Bitcoin is open source software run decentrally. The economic incentives of its users align in a way to provide security and immutability. That’s the core innovation, and that is the “nothing” that backs it that people fail to understand. Bitcoin protects you against exactly the type of attack that the employee of SBF was performing.
sounds like gibberish
The look on Ari's face says it all! 13:23
8:49 and the cash you all gave up to Larry over at BlackRock they paid off the gop and scotus - and now will we be cutting rfkjr in?
This will age well.
If you like his current book on crypto, you'll be fascinated by his previous book on Las Vegas, "The Nevada Nebuli". Here in this masterpiece of investigative journalism Ben exposes to the world that in Las Vegas that there is a lot of gambling going on. A true speaker of truth to power and a national treasure.
TRUST-LESS MONEY-a sociopath’s tall in the terminology?
ben watches coffeezilla
I would vote for Ben as Senator any day. What a thoughtful, interesting, intelligent brave, well-spoken guy.
RAT..Poison...
Crypto - Get rich quick scheme.
Liar's poker 2023.
Is that like when you lie to yourself because you are playing a machine?
I hate that all of his rationale is contingent upon the interactions with 2 of the worst actors in the system. If i were to judge the USD equities and banking off of interviews with Bernie Madoff and banking at Wells Fargo after losing my life savings to mortgage backed securities i could write a parallel book.
This. He also clearly made no effort at all to understand what blockchain is or what it’s good for, so of course it just looks like a Ponzi scheme. What a wasted effort.
I think he should stick to acting. Well time and BTC will prove him wrong. Oh and self custody, thats what its all about. To bad he bought when it was close to all time high, lol
It's not only about money at all but a programmable landscape where we can do everything what we do now in the real world with machines. Every payment communication will use smart contracts. Like the internet connected us together. Web3 will be the next step.
I don't get why people are so short sighted. You can't stop distruptive innovation. You don't need to invest but at the end you will use it some day. That's for sure 💯.
Crypto is a vastly superior technology compared to the current financial architecture. On top of that the debt burden plaguing the dollar system leaves it dysfunctional at best, and headed for catastrophe at worst. The defence of the status quo represents entrenched privileges. The financial industry enjoys rent profiteering and unimpeded predatory capacity, while government has consolidated power by building systems of surveillance and control through financial regulation and monetary authorities. Neither will freely sacrifice these advantages. Finance is the only industry that has not succumbed to democratization and digital transformation, because industry in coordination with governments are selecting winners and losers, protecting legacy incumbents and stifling innovation.
Nailed it! Great response. We’ll be getting rich together. The people who listen to Ben…..well, they won’t. 😜
@@tommyw.7855Do you catch a lot of flies with that tongue?
@@elainedaprano9130 You have to wonder who'd be dumb enough to even consider this guy's nonsense.
Oue regulatory systems have been eroded for far too long. The existence and growth of private equity investment groups is another indicator of this failure.
Great interview!
What is going on with Amazon Crypto?
Ai writes code without the help of people- that’s why social algorithms matter.
Crypto is not crypti exchanges. From the economics perspective of exchanged he is spot on. However crypto and blockading underliying technology should not be mixture up .
Next interview, a crypto expert discussing the actors strike and its causes...
" I have a degree in Economics" - hahah
Ben is right about "crypto". But very wrong about Bitcoin. Crypto is like a photo of a delicious meal, Bitcoin is that delicious meal. Don't confuse the two. And don't confuse centralized crypto exchanges for Bitcoin.
Crypto is not legal tender, and as commerce is subject to congressional scrutiny and control! This is just another example that our government is totally uncontrolled and dysfunctional!
There is NO Congressional scrutiny in Seychelles . 🙄
Are you, by chance, the same person who complains about too much regulation?
And yet black rock is building an ETF around the crypto Bitcoin ponzi. How does that happen ?
Crypto is not just a currency, it is investing in the future of a data-driven world. Cryptos represent cloud storage protocols, data services. Medical protocols, AI protocol.
Web 3 is built on block chain criptos.
Based Ben McKenzie
Havk
"....if blind eyes could blaze and be meteors and be gay.."--Dylan Thomas
Tezos takedown of Ben's "book" at Fortune Magazine, titled *Ben McKenzie needs a hug: The ‘OC’ star’s crypto book is an ill-informed flop*
Hahhaa... just heard the last part of the interview when he says that the problem is "code". This shows exactly his lack of research on the subject. The code of bitcoin is open source, nobody can unilaterally change it, doesn't matter how "good" they are or how much money you pay to someone to do it. The code can only be changed after it is agreed by all miners and validators of the network, and that change is visible to everybody. I'd rather trust that code that everybody can read and audit than the FED, thus "trustless" or "code is law". The "code" he is talking about is the code of the FTX Exchange Trading system, that is different... it is not the asset. Please tell me how stupid this argument sounds: "A US bank, where you save your precious dollars, changes the code in his bank software to trick users into thinking they have money but the bank is actually stealing that money. OK, so now we can safely say that the US Dollar is a scam.". Yes, the US Dollar is a scam but not because of that argument because it is so stupid. He is making the exact same argument with Bitcoin or crypto. Just because the exchange is a scam doesnt mean the underlying asset is a scam. This McKenzie is just so stupid.
One last piece to this is that if you don't want the Bitcoin code to change you can defend it... run a Bitcoin node and start mining, you might not make millions or any money at all but you can defend the network if you dont agree with the changes in the code. And guess what? there are a lot of people who believe in the Bitcoin ideals of a "trustless" system who are defending the network all around the world. You can't hack that.
Then why is black rock getting in.
After the collapse of the cryptocurrency market it is more reliable to earn on Crypton cryptocurrency.
Ben McKenzie: "What if Im right?" No sir, you are definitely not right... very far from it. When he complains about crypto he complains about the market structure, and yes there are shady exchanges and shady shitcoins but there are also great crypto projects. The problem is missing regulation for digital assets. However that is not an argument against the underlying assets. So he says crypto doesn't create any value... nothing further from the true, this just shows how he didn't do any research or he doesn't know how to make a real research. He is like the people in the 80's complaining about TCP/IP and the Internet that was going to disrupt the telecommunications industry. Crypto is disrupting the Internet, is creating the technology that is rebuilding the Internet from the ground up... The problem is not crypto. "Name one crypto currency that's doing anything productive": There are so many, starting from Bitcoin (it is inflation resistance, that is very productive for anybody to to preserve your wealth against inflation), Filecoin (decentralized storage network, very cheap and secure), Ethereum (the pioneer of blockchain-based decentralized smart contracts), you have some there... but I could keep going, the is so much value there. This guy has no idea what he is talking about.
Bitcoin was $67,000 a year and a half ago, $16,200 seven months ago, now it’s $29,000, it’s only good for speculation, not to preserve your money against inflation as you claim.
@@abc33155 If your timeframe is one year, you are not investing… you are speculating… you invest for bigger timeframes like at least 10 years or so, how does your math works in that timeframe? Make your research… yeah, BTC wins…
@@abarriosrThat has little to do with inflation. The inflation is high for a couple of years, so I buy crypto to preserve my wealth during that time. Then I want to sell and do other things but the price has plummeted and I have to wait for another crypto craze to come by. Bitcoin is still not doing anything useful and there are a ton of other crypto currencies anyway.
@@abc33155 Oh boy, that has everything to do with inflation, the "real inflation", not the made up numbers they are telling you that inflation is. Due to Covid, the FED entered a quantitate easing period and during that time it has printed more money than in any time in history, Bitcoin noticed that and rose accordingly. Right now we are in a quantitive tightening period but it might not last for so long because the US economy doesn't work quite well if the FED doesn't start printing money again... prepare for that...
It appears that the last person’s comment was shadow banned by RUclips so we can’t read it.
I have an Economics Degree!! I have an Economics Degree!! Hey ya'll, I said I got an Economics Degree!!!! 🤣😂
I know it sounds reasonable to most of you guys. But he does not actually explain why Bitcoin is a hoax. I can debunk everything he says quite easily. If this is the best that the anti-crypto-lobby can do, I'm even more bullish on Bitcoin
"Zero sum game" :D this guy really has a degree?
This is so bullish for bitcoin. He is correct about all crypto but bitcoin.
people who don't know anything and did no due diligence were swept up in fomo from charlatans like bankman fried. but smearing the whole cryotography space because you were an idiot and listened to actors rather than doing due diligence is dumb. this segment is aimed at people who take financial advice from actors 😂
Writing a book on something he knows nothing about and selling it to the public is fraud
Trustless money does not mean "to not trust Money". “Trustless” means that you don't have to trust a third party: a bank, a person, or any intermediary that could operate between you and your transactions or holdings. I feel bad that this guy has had a bad experience in crypto. Crypto is the future and it needs regulation, I agree.
bring on someone to debate him a bit, he is conflating, exchanges, btc and all other crypto.
He leads every interview "i have a degree" typical economics major.
How is an actor a person of advice regarding financial products? How does he have credibility in this space? 🤔
I feel like all of the the comments are bots looking to pump this story and agree with the narrative 🤔
Bitcoin is not "Crypto" and Mr. McKenzie does not seem to understand the difference between a Celsius, a FTX, a Cryptocurrency, and Bitcoin.
And did you see his other video where he admits he made money from trading bitcoin ❤❤❤
Come on dude you are just trying to sell a book.
This guy is a fraud should be in jail.
Brags about economics degree. Jas no clue that traditional markets are actually more fraudulent and manipulated than crypto ever has been.
Not only that the fact that he calls fiat currency money is in itself laughable
He's a star? Funny... I've never heard of him.
Oh, cryptos are deeply flawed he says?
Does that include Bitcoin?
Because Bitcoin is fundamentally different than all other crypto.
Does this self-styled expert have any commentary on the flaws of the debt based currencies issued by the central banks of the world?
Like the US dollar? Yes, the same US dollar that has lost 98% of its purchasing power since the formation of the Federal reserve.
Has this channel done any interviews on the flaws of debt-based currencies?
Ever interviewed Ron Paul? Peter Schiff? Doug Casey? Bill Bonner? Paul Craig Roberts?
I guess not
Because you s
He is a big star to me since my teenager years.
I read the first chapter at a bookstore. The authors’ misunderstanding of Bitcoin, how it works, the game theory, evolution of money, etc, is just appalling. They also decide to alienate half their potential buyers by ripping into Donald Trump. It comes across as petty and childish.
Because the anti-Bitcoin arguments are so poorly presented, this book is highly unlikely to dissuade any of the advocates. It will, unfortunately, probably cause many who are curious and uncertain about Bitcoin to balk at acquiring some at current fire sale prices. In years to come, McKenzie will likely be remembered unkindly, along with Schiff, Krugman, Taleb, Munger, and many others.
This guy selling you his book is the con. You can question scam crypto currencies of course but you cant question the technology which he doesnt understand. He probably poured his money into some scammy dog coin lol
That book won't age well💩
The fact that he needs to claim he has a degree in economics EVERY SINGLE TIME to justify his opinion (as if that mean shit in today's era), makes me become VERY skeptical of whatever comes out his mouth.
It seems that the issues he has are with exchanges and not with BTC itself
McKenzie is upset because he thinks hes smarter than everyone else. And he did not get his participation trophy because he didn't do his homework.
This tells you how having a degree is worthless this guy haven't even experience a full cycle and already acting like an expert
This guy has no idea at all. He hasn't done any research. He bought at the top and got burned. No wonder he hates it.
"I have a degree". What a clown
Why would anybody give this guy credibility in the crypto market? He literally does not understand the difference in Blockchains peer to peer in a crooked exchange student has zero knowledge
The #1 independent financial advisor in the country (Ric Edelman) also wrote a book about crypto. He disagrees with the Hollywood actor. Where do you think the smart money is? 🤪 Go back to school Ben
Sez you 🙄
What a dope
He saw an opportunity to make money after the fact… 🤡
This will NOT age well. 🫢