Owning The Internet: The Bull Case for Crypto
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- Опубликовано: 1 июн 2024
- Barney's blog: theescapeartist.me/
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Some very different content this time folks. For regular viewers I fully understand if it's not your thing, just give this one a miss but for those with any interest in economics or finance, Barney who I interview here is kind of a big deal in his field and well worth having a listen to. ✌
Amazing Ali, you never cease to impress me, I’ve been into Crypto for a couple of years and never looked back. Great video!!!
I found this really interesting, a topic I always knew I should inform myself on but never got around to doing it. This so far has made a topic that can be quite intimidating, very approachable.
That's brilliant. It's a risk putting it on my channel given that it is so different to what I usually do so I'm glad you found it useful. We obviously just scratched the surface here but I feel it's a really solid base to then learn further :)
Blockchain, good technology in principle but applications is where it seems to come stuck. Where can it be used to radically improve upon the tech we already have and use? The example your guest uses about a shipping container being tracked and replacing the current inefficient paper-based method could easily be built using client-server architecture (APIs, relational or object databases etc.) and it can be made available in the public domain. I don't see any benefit of blockchain being used for this application whatsoever.
I'm no techie but the blockhain allows for decentralised open access and credible neutrality in a way that a centralised server does not...plus state-resistant level security as already demonstrated by Bitcoin
The application I have heard of is in contract law, where current system pays for witnessing, notarising and holding contracts. A decentralised ledger that shows what was signed and by whom could render that aspect of the legal world obselete.
Probably wouldn't have watched if I hadn't read your email as I subscribed for building content. However I enjoyed it, always dismissed crypto previously but no longer. Interesting, think I will follow suit and buy a small amount too.
That's great Steven, glad you're a newsletter subscriber and gave the video a go. Yeh, I think the best way to learn is to have a little skin in the game and then you can decide whether it's an asset class you want to be in long term. Usual DIY topics to be resumed shortly ;)
i found your channel because of your (very good) build videos.
I now know that you can do a great videos about almost everything! ;)
i've been investing in the last 2 years and i must admit i wish i had videos like this when i started.
Thanks for taking the time to share it.
As i pointed people to your videos about building, i can also point you (and whoever is interested) to some good sources of info about crypto/stocks and investment in general.
Hope you have some safe and profitable trades.
Ha thanks, this was a bit of fun about something I'm interested in but didn't feel I had a good understanding of so it was great chatting to Barney. I tend not to trade and instead buy and hold - mostly equities but as Barney said in this interview, a small % in crypto. I think it needs more time to really see what the asset class is going to do over the long term but if you wait for that certainty any gains will have mostly already happened. Very volatile though and as per the cake analogy, it's the cherry on top, rather than a starting place for investing.
Great Interview Ali. Your moving into new areas, nice to see. Watch out Andrew Marr. I found the interview really helpful some great explanations around the mysteries of Crypto Currency. I for one have just started my journey of sitting up and taking note on what is going on in this area of finance. Thank you.
Great, glad you found this helpful
Ha! Thanks Paul, I need to get better in front of camera so it's good to get the practice in. Glad you enjoyed it mate
This is uncanny Ali ! Was talking to a mate who has recently become a Crypto zealot of sorts, and told him I would look into Crypto investing which I have been largely ignoring till now, but which is inevitable I guess. So perfect timing for me there ! 😁👍
Now if only I knew how to install metal cladding on my garden room...
🤣
PS: It is super weird to hear your oh so familiar voice and stare at what is still a "stranger's" face.
Something tells me that will change soon enough 😉
Awesome Preshant. I reckon there will be times with crypto when is written off again - largely because of price movements which is why we don't focus on the price in this discussion and instead focus more on the use cases which will determine its long term value.
The main problem for new investors can be a british banks. Most of them or already all of them banned sending and receiving funds from/to crypto exchanges.... what can you advise in this case?
This problem has mostly been fixed...I can tell you that Revolut, Lloyds and Natwest all facilitate payments to FCA regulated crypto exchanges
Yup as Barney says, most now do, I can attest to Natwest allowing it. I think they wanted to protect customers (or that was their reasoning anyway) from crypto but now it's quite quickly being seen as a legitimate asset class, they're opening up transfers.
Hi is there any audio version of this chat
Good question. We thought about doing that but for the moment this is a one off so no audio version. As a solution, how about getting the RUclips app on your phone and just listening to the vid instead. I do that quite often
Just watch it with your eyes closed dude :D
Can the BTC blockchain be corrupted or subverted Ali, where one person / group modifies the store or effects its transactability ? Can there be a 'run' on a BTC exchange?
Hey Carl, as I say, I'm not the expert but I think it might be worth reading the white paper upon where bitcoin was proposed. It's only 8 or so pages but it details how the blockchain keeps the miners honest. As my understanding of it goes, it was a risk in the early days because there were fewer miners on the network so if more than 50% got together to subvert the whole system it could work but then again bitcoin wasn't worth enough (in fiat) to be worth the bother. Today, organising 50%+ of the network would be unfeasible as they are located across the globe and there are so many.
I think corrupted is possibly the wrong word, but like any technology created by people there are no certainties that it will never have a weakness. As the guest says in the video though BTC has definitely proven its security with its history. The algorithms it uses for computation are far older than blockchain technology itself so these too have proven their robustness.
EDIT: I'd also add that the BTC blockchain security is one thing, but if you use a third-party app to manage your wallets, that introduces other security considerations.
If you want to really boggle your mind watch a video on how asymmetric encryption works on a lower level, the mathematics and how prime numbers are used. Eddie woo has a good one on the RSA algorithm.
Best thing I ever did was educate myself with crypto I have a nice portfolio built over 4 years this is the future 👌
Congrats and well done for going in earlier when there was greater uncertainty.
When a building content creator does crypto, its called mass adoption. thanks for putting in your bit.
Ha! Good point, well made.
Oh. Hope no one is taking this guy seriously. He clearly doesn’t understand what he’s saying. Web 3.0? What are you, a morning show host?
Can you expand on this? I am completely impartial at the moment, as I know very little about Bitcoin, and so I would genuinely like to know why you say this.
As many “crypto enthusiasts” he makes a jump from “introducing a distributed ledger have potential in many industries at a current level of Internet connectivity” to “let’s speculate on existing implementations of the ledger”.
I made this comment before Ali asked exactly the question that I wanted to ask. “For all those potential applications of block chain you were talking about, why do you think the value will be with the existing tech like Etherium”. Unfortunately the guy dodged the question.
Anyone can use a ledger nowadays. And any serious project out there rolls their own. Cloud providers like AWS already provide service for those who don’t want to do it.
At the end of the day trading Bitcoin or Ethereum is not much different from trading on Forex - a whole bunch of volatility and a zero net.
@@dawidg9967 reread this a couple of times and still not sure if you are trolling or not. Hats off to you, sir.
@@rafiki4444 I appreciate you explaining the alternative view Artem!