How Crypto will Change the World (or Not)
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- Опубликовано: 14 дек 2021
- Is Crypto All Hype? Let’s Debate
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From cryptocurrencies to NFTs, crypto seems as though it's here to stay - but is that a good thing? To find out, I debated.. myself.
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Johnny Harris is a filmmaker and journalist. He currently is based in Washington, DC, reporting on interesting trends and stories domestically and around the globe. Johnny's visual style blends motion graphics with cinematic videography to create content that explains complex issues in relatable ways. He holds a BA in international relations from Brigham Young University and an MA in international peace and conflict resolution from American University.
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I loved the quote at the end. "Keep your mind open but not so open that your brain falls out" is such a great way to act toward emerging technology
Hehe pokmon
OMG U WATCH HIM TOO HI MIKEY
I'm disappointed he didn't start with "Haha! it is I......"
@@proximaevening4764 XDD
TEAM SKY
I like the part where Johnny Harris was debating with Johnny Harris. Johnny made some good points, but ultimately Johnny was the one who made the better argument.
I...Disagree. Look, I got Johnny Harris's points, very well actually, but overall I feel he just didn't have a strong boundary for his points enough, and ultimately, I believe Johnny Harris was the one who was actually correct. Respect your opinion sir, but It's wrong.
yes would totally love more videos of johnny debating with himself
I get where you getting that idea from but the fact is that Johnny Harris's points are more robust than Johnny Harris. Respect your opinion sir, but It's wrong.
he is naive and scarred and missing a lot. Crypto is not secured at all. Its ultimate money moving laundering tool. ITS not for US... Its for big sharks. We just watching and supporting our own doomsday culture... I dont want a future to become Corporation Rullued CyberPunk Zoo...
There used to be a game by EIDOS ;;; "Good of the machine " \\ Deus EX. I am not against the computers, and even pro... But it All started with the "Gray death and Ambrosia "
Sort of giving you idead of the test run in 2018
It’s like Ryan George but serious.
Wow wow wow
Can we just take a moment to appreciate how well crafted this video was in terms of storytelling and content! Great Job Johnny, love to see videos on current world topics! Love the fact that you make it interesting, easy and engaging!
I concur!
As far as the point about institutions not controlling your money, it feels equally risky to have it controller/operated by the community. Even a community of people could turn around and freeze assets of others whom they don’t agree with or simply don’t like. That is a frightening thought, indeed.
I'm glad there is a popular youtuber who has a clear head, talks sense, and encourages people to think for themselves and not fall into the easy trap of black or white thinking.
I mean he's a trained independent journalist this is literally what you do.
@Josh Skipka Wdym The guy was a journalist for Vox and the major is still called journalism.
@@KRYMauL Except most "journalists" today do quite the opposite. They divide, spew hyperboles, and try to get a rise out of people.
@@anyariv Sure but that’s corporate journalist. Vice and Vox at least try to dig into the facts all be it with a heavy basis.
Man this feels like one of the only honest discussions of crypto I've seen
Indeed!
I've been watching videos on crypto technology and innovation for years. This is possibly the only truly neutral video on the topic I have ever seen outside of generic news videos.
Robert Breedlove is pretty legit too
This; every video is stupidly pro or says it's bad for the environment those evil fuckers!
It wouldn’t surprise me if Johnny got the script directly from a comment thread debate. Still brilliantly stated none the less.
‘’Courage taught me no matter how bad a crisis gets ... any sound investment will eventually pay off." - Carlos Slim Helu
Making it out at a young age is quite difficult. I started a side hustle at 17, saved up and made some good investments. l'm 28,live on my own and having a good life for myself. Big ups to you and everyone out there trying
@@hoshifuyo4494 Sounds like plan, how do you put money to work?
@@steceymorgan814 Yes it sure is. I put in money in investments and get profits. That 's how I make more money without working. This does not sound new to you right ?
@@hoshifuyo4494 Thanks for replying me, I've heard so many people talk about investment but none had said how to do it right.
Am hoping on you can explain more on how you make extra income from investments
Great and such a nice quality content for free. Hats off to you Johnny. 👏
He did a fantastic job, I love the debate nature of the video! How do you feel about crypto?
Love this debate, I'm definitely with Johnny on this one!
The other guy made some really good points though.
But John had better comebacks
His popcorn really won it for me
yeah he totally destroyed johnny, he made no sense and was just spilling nonsense and was bias.
which one?
Hey Johnny, want to thank you for the little publicity you gave to the case of protesters in my country (Nigeria). We've been fighting against police brutality and bad governance and have been seeking support from other governments and groups to bring all this to an end. But it seems like nobody cares, the lives of persons trying to exercise their rights, trying to get their voices to be heard have been taken by the same oppressive government that continues to deny 'allegations' laid against them and try to shut the mouths of those who try to speak up.
Some have had flee our fatherland (a known case DJ Switch) to seek safety overseas.
My country needs a turning point and people like you make that happen.
[Edited]
Which African governments have y'all asked for help from ?
@@analyticalmindset African governments are corrupt and won't be much help.
@@analyticalmindset It's not a matter of necessarily asking for help, if we're being real it's them seeing the injustice in another country and doing maybe the little they can to make it end.
@@analyticalmindset Also I felt I should point out aid is not specific to one country or continent. It should be something that any, and I mean any group should be willing to give out.
@@djxtra7408 Yes, a large number of them. But hopefully all this would change. We might not know when, but we should be hopefully, we should also work together to make sure that's our new reality.
Just discovered your videos: Kudos; really well made. Love the balanced narration and the research behind your statements: keep up with the good job!
I think it's a nice idea, but I also think eventually it's all going to get taken over by corporations and governments whether we like it or not.
This is brilliant. Love this format - such a great way to reintroduce the nuance that is so often lost in these conversations! Thank you for making it.
I know people say you shouldn't time the market.. but Toby Maguire gets it right EVERY TIME. when the price dips, he buys before the rip. when the price rips, he sells right before the dip. his mastery of advanced technical analysis is only outweighed by his charisma and charm. all I'll say is, don't leave Toby Maguire around your wife.... I learned that lesson the had way. anyways, in conclusion, if@Bain says to buy, then buy. If Toby Maguire says to sell, then sell. this is financial advice.
Agree. Funny and interesting. And on youtube discussing ownership over content, haa. Well lets stop there, and also wtf is it with the scamers in the comment section?
Wow bots in the thread
@@whakjob fuki n spiderman. Come on scammers you can do better. And not even God can time the market right EVERY TIME. If you sell people a dream. It's a scam. Get lost
Modern journalism lacks this exact concept of objectivity, Johnny's ability to present both sides to a viewer and allow them to make up their mind is what makes his work so unique.
Great point!
It’s sad that this is considered a rarity today
Be wary of this. Not all debates are equally split of veracity. Think of the “debate” over evolution or climate change. But yes, in general it’s very good to hear opposing viewpoints for a fuller picture of a topic.
Because objectivity don't exist. Human experience are inherently subjective and at best we can come us are consensus. The responsibility of the reader is to be aware of the bias of not just the material they are reading but their own as well.
Sheriyaanu
This by far the most fair and square discussion I ever saw in youtube.. Presented with deep passion to educate without bias.
This is high quality content. Congratulations, loved the format. Also, loved the conclusion that estimulates people to think for themselves. We need more of that mindset FOR SURE!
Time to cash out when Johnny becomes fully invested in crypto
Appreciate your comment!!! Hit me up for more on investment and guidance👆
@Johnny Someone's using your profile picture for crypto scams^^
@Johnny Someone's using your profile picture for crypto scams^^
Another fantastic one, sir. I'm definitely more on the side of the white shirt guy. But I remain open to learning more.
Yeah very much in the camp of “no way in hell I’d take my checks in crypto” but would be open to investing to diversify my portfolio on more secure crypto like bitcoin or ethereum as their market cap grows and its less volatile
Like what are the points where you think like white shirt guy? All of the newer block chains are already not using extra electricity with ''proof of stake'' and ethereum will be migrating to that too next year. So that's already something where he's wrong.
White guy has crypto arguments from 4 years ago... It's like people saying "nobody would ever purchase anything on the internet"!
Hey, it's WheezyWaiter. Did you lend Johnny your cloning machine for this video?
ok
This video is so good that halfway watching I forgot that this is him talking to himself rather than different people, I think that is just how good Johnny Harris
Love the way you explain things !
Great job
Another classic example of a complex topic being explained in a fun way! Thanks Johnny and Tom x2!
I think the people with this ability is some of the superpower in real life.
One thing missing from this is the level of inflation we see.
Here in Nigeria basic goods and utilities (like cooking gas) has doubled in price within 1 year.
The current financial system isn't working, we desperately need something else to store value.
It doesn't have to be crypto, but it mustn't be the current system.
So far , the banks and government has been irresponsible with the money supply.
We need something outside their control.
Something they cannot debase as they please.
Our lives and livelihood depends on it.
Within my lifetime, I've seen the Naira lose more than half it's purchasing power.
If things continue as they are, we'll without a doubt, become another Venezuela or Zimbabwe.
This comment needed to be top 1.
if you were to store money in bitcoin, you would still be a victim of inflation
@@TheGiddyUps Prolly not Bitcoin, but not the Naira either.
What do you suggest we store our value in ?
@@TheGiddyUps Yeah 10% over the next 100 years. Big whoop
@@x-Machina inflation is not necessarily the devaluation of currency because of the lack of scarcity, but it is necessarily the decrease of purchasing power, which might happen due to a lot of things, like an increase in price levels
I love and appreciate this content, thank you. Anything that respects multiple perspectives is 100% my jam.
Johnny! I love your videos and I share to friends all the time! Thank you for your amazing job!
As somebody on the lower side of middle class and a computer sciences student, I saw Bitcoin go from neat idea to a tool used by millionaire investors to get richer and a tool I can no longer really afford.
You know something funny.
I realized the same, especially bitcoin have turned so expensive that as a person from middle class it's too risky to even try
You can still by bitcoin for 10 bucks. It can never be too expensive.
@@Tschonni95 sure, but with it's volatility, I don't know if that $10 will become $13 or 7 six months from now
You don’t have to buy a whole bitcoin though. I invested $50 into ethereum and it doubled in a matter of months. That’s not enough to make a living off of, but it’s $50 more than I had before. And the process taught me a lot about computers, currency, and the stock market. It’s not as all-or-nothing as make millions or make nothing. All things in moderation
I wonder how many drug dealers from Silk Road and it's variants are now crypto millionaires. BitCoin used to be the only currency for TOR.
This is so good it's not even funny.
Nathaniel just obscurely hiding in the comments
@@ivanteo8749 right like show yourself sir
❤️
Hey Drew! I love your content :)) keep at it!
Watching this video on June 25 2022, after some of major crypto exchanges froze transactions and accounts make me realize how prescient and well researched Johnny Harris was in creating this piece 👏 21:24 is so à point
Whatchu doing with assets on crypto exchanges? Hallmark of crypto: Trustless. Centralised exchanges getting hacked is literally case-and-point time and again why you can only truly trust yourself with your own money. Keep your stack in a cold wallet; never hodl on centralised exchanges.
Does not need to be hacked, Ftx just failed owing billions, where did it all go? Another ponzi? Or a planned escape with the loot?
Watching this on 30 nov. 😂 as more exchanges fell
Job well done Johnny, just came across your channel, Hayden Hillier Smith mentioned you! Your videos are very insightful and entertaining to watch!
No matter on what side of the argument you find yourself at, this was very well made and objective. Johnny Harris you are truly an inspiration for someone who wants to be a content creator!
It really wasn't. It was hopelessly underinformed. He should've at least talked to someone familiar with the space before making this video.
Several things went unaddressed in the video.
1. The energy consumption criticism does not apply to PoS (Proof of Stake) coins, which consume practically zero energy. It primarily only applies to BTC. All new L1s (level 1 chains) are PoS and ETH is slated to become PoS in the coming years.
2. The middleman argument with respect to exchanges is moot, DEXs (decentralized exchanges) are plentiful, see Uniswap, Sushiswap, Quickswap, Pangolin...
3. Algorithmic stablecoins specifically address volatility issues, see UST, OHM, or AMPL, all the way from pegged to the dollar to being completely independent.
I've been following Johnny for a little over a year now. They say you really realize how good or bad a journalist is once they write an article about something that you're knowledgeable in. I consider myself quite knowledgeable in the crypto space and can say that this is really well done, and an accurate summary of the space. Thanks, Johnny for all your work!
I thought the same thing! The knowledge was surprising
doesn't mention defi or proof of stake, so maybe not..
It really feels incomplete without at least an introduction to the difference between value based on scarcity and value based on utility though.
It's odd to me to still hold energy cost as a central issue when we're so far down the path to virtually eliminating that as a factor. (Proof of stake systems are expected to consume 0.01% of the energy used by equivalent proof of work systems, and Ethereum has been running the former in parallel with legacy for months now.)
Defi was (briefly) mentioned, just not by name but rather in the form of more accessible terms like contracts and lending.
@@HonoredMule good point regarding defi, but it's a direct rebuttal to the argument that we need to rely on CEX, IMO, and was not presented as such
@@HonoredMule It was definitely odd to see that be the last word on the issue.
In a self-proving manor, Crypto's argument about technological progress disproves the final statement made by the Skeptic. Proof of Stake is far past developmental stages on current crypto-sweethearts like Polkadot/Cardano/Algorand, let alone Ethereum. Development will constantly seek to solve issues-- especially in the name of improving efficiency.
It would simply be a lack of research that lead to avoiding these points.
wow, amazing video. Good job on presenting pros and cons of crypto on such an easy to understand way. great research, and great points on both sides. This is a great starting point for everyone to learn and to start forming their opinion about crypto
Well it definitely has been talked about for quite some time. It's great how you are presenting it to me. I can understand it more clearly and thank you for that. Cheers!
As a Venezuelan, I can say Crypto really helped me survive there and helped me get out Venezuela. So Mr. Satoshi, thank you so much
Well yea. Your currency is worth dog feces
@@hangguy209 im sorry can you tell me how much has your goverment printed in the last year or so?
something like 80% in the last 29 months?
(assuming your American)
If that really happened, you got lucky because other people didn't. Don't pretend that Bitcoin isn't all about winners and losers. It doesn't care about people. It's not altruistic. It's just a different way of dividing the haves and the have-nots. All monetary systems are selfish and unfair. Not even Mr Satoshi gives a crap about you or Venezuela.
@@kevChess still worth more than Venezuela
@@kevChess not how much is printed you need to watch.
It’s the amount that is destroyed that dictates t the rates.
Venezuela has an economy that is in the bottom of the world… …
It’s a desperate ploy from a desperate country
Regarding Tokens or NFT, I've seen so many Japanese twitter artist that had to seek help for plagiarism regarding their art. They complain that their original artwork is being plagiarized, and recolor them and turn it into NFT. Maybe in the future, there will be a method to solve this problem, but for now I'm leaning towards the skeptics and against this idea.
Recolored? Those art theft actually put in the work? Most western artists I've seen facing the same issue has their work lifted entirely without edits. There are even works that is explicitly anti-NFT being tokenized.
If I have the real Mona Lisa painting then I wouldn’t care if someone has a professionally forged copy. As long as the artist gives their own signature on the piece you purchased then you have an original.
With that being said fake painting have been sold every day for hundreds of years and longer. Good preventions for this would be for social media platforms to require your NFT to be uploaded along with the art it represents to prevent bad actors. This is the same as art graders and forgery experts that we have in the art market today.
You can’t stop theft, but there are ways to deter it. If you’re a good artist then expect your work to be stolen in some regard. Is it right? No, but maybe if it pisses you off enough then make an NFT authenticating engine with a social media company since you have the ambition
@@x-Machina But they are not selling their own painted copies of the artwork, they are selling a literal copy of the digital pixels that are the artwork. This is why the comparison between the physical art and digital does not work in this context. It is lireally impossible for me to with two clicks of a mouse create a seperate, exact copy, of a physical artwork. You are claiming that creating a physical object that matches another painting in apperance (a process that in and of itself takes alot of time, dedication and skill) is the same as copy and pasting a digital work and adding a filter over it. These two things are not comparable and if you cant see that you are just blinded by your love for NFTs
Right, that's a big problem. I've heard people say that NFTs would prevent art theft, but for now it only supports it more. You can't tell wether an NFT is original or stolen art. Most people who sell NFTs are not even artists, but people who want to make money off of it.
@@x-Machina The thing is, once someone ripped your art and claims it as his own, it's kinda hard to prove them wrong. Especially on an immutable Blockchain
This was exceptionally well delivered. I'm very pro crypto but the growing pains are absolutely serious and the future uncertain too
very true. it's wayyyy too early to call crypto "the cure all" but it's also exciting at how fast the space is innovating and addressing growing pains.
The problem is government. Unless you reform it, things ain’t gonna get better.
@@MugenTJ which government ?
@@DJazium any corrupt government. Which is most of them. Making up your own currency is essentially illegal if you think about it. So govern can always outlaw it when they see it as a threat.
@@MugenTJ the reason why this is resilient to governments is that you would need all the governments to work together which they most certainly don't leaving the ones that embrace crypto having much to gain. Crypto is a global ohenomon which is precisely why no subset of government restriction can stop it
Really great intro and great content as always Johnny! The Blockchain really has great opportunities but it's hard to see where this is going. We live in exciting times! Looking forward to see if this becomes mainstream or if it is really a bubble that will burst in 10 years time.
@♜ Pìnned by Johnny Harris only stupid people fall for stupid scams. Get lost.
Great video. I think the fact that these huge corporations are pedaling this "get rich quick" mentality is pretty scary. If this bubble bursts, a lot of regular people will lose their money.
Thanks for the comment!!Kindly DM now for more tips on investment👆👆
Unfortunately, this is going to happen regardless, like it already happened numerous times in human history!
investment over here is frustrating and i always have no luck investing
@@mariellewilson8276
I will advice you contact Vivian Klaine Morgan, she is God's sent to us here
@@mariellewilson8276 👆👆 hit me up
Oh man, this Gollum approach is the best way ever to talk about crypto. It's exactly what goes through my head when thinking about it. Well done!
Also Green Goblin which is what I think first because a new Spider-Man film is coming out and my mind is on that.
Like Dr. Jekyll and Mr. Hyde. Or, uh, Dr. Johnny and Mr. Harris.
Two sets of assumptions is not better than one
I'm mainly just the dude in the middle eating popcorn.
Man, I love your videos. You make things so EASY to understand!
thank you so much for your content johnny!!! you make us expand our minds with knowledge! thank you so much!
Not gonna lie, I really enjoyed this type of explanation. It covers both arguments really well. For me, personally, I never used any cryptocurrency and currently people seems to be invested to know more about it which is great and all but I'm really worried about the price of GPU as it is currently skyrocketing and it wouldn't decreased anytime soon. I just hope someone found an alternative on how to mine these cryptocurrency.
It already exits in less known blockhains, its called proof of stake, ethereum will change its code to be PoS by the end of 2022! Unfourtnetly bitcoin will not ever.
There already is alternative ways to validate a block in a blockchain than guessing a valid hash for a block via "mining".
@@MANIAKAEMAN i know nfts that are just similar to bitcoin or etherium where they use this materials to buy stuff that are just too expensive.
@@MANIAKAEMAN Ethereum plans to transition to POS for years now, and they always delays it, it was 2020, then 2021, now late 2022? So disappointing, we need this urgently for yesterday.
@@MANIAKAEMAN That's fine because Bitcoin isn't mined with GPUs, it's mined with ASICs
One of my personal biggest fears is actually Optimistic Johnny's own prediction that Bitcoin isn't the best solution, but that an even better one will appear either through Ethereum or another.
What happens to the nearly $1 trillion currently invested into Bitcoins the moment that they realize that they have to switch to this better system? The only people that they can sell them to are people that haven't figured out yet that they need to change from Bitcoin to this other system.
You just described Forex investing along with the stock market in general.
The best response today is that Bitcoin specifically really wont be affected by what is already not happening in its environment. Bitcoin will have value for the long term as a store of value. while there is a lot of money in crypto it pales in comparison to the potential. As that money joins and spreads out the impact of a single currency, even bitcoin, will be less widespread. Just like today if Microsoft's price goes down the entire stock market isn't tanked.
The first solution is rarely the best, and all the current cryptos are so flawed that if crypto ever really does work it wont be using any of the current coins, this mean that yes at some point Bitcoin, and every other coin currently in existence, will crash and become worthless as people lose interest or switch to better tech, all the bitcoin investors can do is hope they sell at the top and aren't the suckers holding worthless coin at the end.
Bitcoin is limited though. How is ethereum limited? Is there an infinite amount that can be mined? Isn't that potentially bad about that system as well?
@@falconJB Pretty gloomy future you are imagining. I can't say about future, however, I can tell you what is happening right now. DeFi is getting banks now. The first banks are coming. They would allow you to take loans against your Crypto currency. There are already options by which you can take a loan against Bitcoin or Ethereum. You can get stable coins in return and people take leverage to reinvest. I agree with you that ultimately we will have another coin as the main token. Or rather another Blockchain which will be the main one. Probably, this blockchain could provide a bridge to all blockchains. In near term Ethereum is going to be that. The new big blockchain. When the flippining happens. It will because of its function. It has the magic of programmable money.
I love the style of this video where you played the different characters advocating for and against crypto
I'm with you bro, I think the tech could be part of something great to come but choose to cautiously observe how things unfold. Even if that means I miss the bus entirely, hindsight is always clearer...
OMG, you've gone so far from your time in Vox. To be honest, I'm much more excited to see your video in feed than one from Vox, not that it's a competition, you've just made a standard on how documentary/thought provoking videos should be on YT, just like MKBHD did for tech ones. Thank you, sir
I was wondering where have I seen him before and why does his production feels familiar....
He makes the vox. It is likes when I see his face I think of vox.
I think the first point is so key, a lot of the hype and drive behind crypto (like most things) comes from those who have their own stake in the game. I’m also not a fan of how use cases are being forced rather than being natural solutions to problems.
Were cellphones a "natural" solution to a problem? What about carriages, planes, the internet? Of course a technology Will he touted by those with a stake in it, those are the people that understand the potential benefits. Of course there are people who just want to get rich and do not care about the technology.
@@PNSerapicos planes fixed the long duration of international travel. The internet fixed the disconnect between consumers and sellers of goods and services, and smart phones fixed the fact that most people didn't have access to the internet. What exactly is cryptocurrency fixing? It's instead creating problems.
@@PNSerapicos planes fixed the long duration of international travel. The internet fixed the disconnect between consumers and sellers of goods and services, and smart phones fixed the fact that most people didn't have access to the internet. What exactly is cryptocurrency fixing? It's instead creating problems.
Exactly. It's not that I'm against Bitcoin. I'm just skeptical because the ppl who are trying to convince me are invested in it
@@mark2102 Crypto is fixing governments
I usually fall asleep listening to information like this but yours is truly mesmerising. The storytelling, videography, everything!
Now, this is quality content.
Helpline👆+1️⃣
I really enjoyed the way Johnny went about making this video. Instead of telling you what is and isn't, he acknowledges we are still learning information about this and helping push the conversation of both sides of the argument. Personally, I believe in both sides here, and I also believe that this will eventually evolve into something that we are not even aware of yet. Could the bubble pop? Yes it very well could, but it is still pushing things into the future wether this is that future or not.
Great video Johnny! I’m somewhere in the middle of this crypto conflict but next year will be interesting for blockchain, we need to change our minds 🇵🇱🌍
P O L A N D
Proof of Stake with ethereum should fix the energy/climate change issue with crypto through proof of work when it is finally implemented.
LOVE POLAND from France
Global👊🏼
its a shame that he hasnt talked anout other projects that are faster, more secure or less costly in gas fees.
This is so excellent! I had this debate without words in my head! Thank you for this! It’s great to understand this a lot better now!
Send a dm 📩 👆
[Great video really. Also i agree with your opinion, For the newbie if you are actually trading in the crypto space and you don't have a sound mentor. Then you are certainly going to get liquidated in 90% of your trades. Yeah that's the sad truth. For a start you need a good and experienced hand to guide you. Trust me, trading isn't difficult as we see it. With the right Signals and guide, you can earn hugely monthly.
You're right! I have lost alot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. I actually don't mind paying.
@@adamjerome5 That's sad. i totally understand. i actually lost too at the early stage and then i had someone to manage my account and i watched his strategy and how he does it.
ALEX MATHEW has been my mentor and i trade using his daily signals
@@pascualcaraballo1737 You said you trade using his signals? can you explain further please.
@@adamjerome5Yes, like i stated earlier, i trade using his signals and we split profits every month. More like copy-trading.
@@pascualcaraballo1737 Please 🙏 how do i reach out to Alex Matthew?
I wanna be honest with you. I'm both sceptic and optimistic at the same time. Blockchain and the technology sorrounding it can solve a lot of problems, but at the same time these problems will be solved by actual people like me and you. So in essence it boils down to who creates the space and how trustworthy these people are.
@Whatsapp➕❶❼❻⓿❽❷❸❹❺❶❸ call me crazy but i dont think thats really johny
I know people say you shouldn't time the market.. but Toby Maguire gets it right EVERY TIME. when the price dips, he buys before the rip. when the price rips, he sells right before the dip. his mastery of advanced technical analysis is only outweighed by his charisma and charm. all I'll say is, don't leave Toby Maguire around your wife.... I learned that lesson the had way. anyways, in conclusion, if@Bain says to buy, then buy. If Toby Maguire says to sell, then sell. this is financial advice.
"Blockchain and the technology sorrounding it can solve a lot of problems" But at what cost? The energy required is immense and not regenerative or sustainable in the present state. What if something happens and "the power goes out" around the world?
@Josh Skipka lets be honest here. You dont know the people who created the current financial system and yet you probably use it
@@whakjob he told me that I'll get my rent when I FIX HIS DAMN DOOR
To quote Jim Halpert: "How is this not a pyramid scheme?".
Not even remotely close to one
@@jrblues Surely if people stopped believing in bitcoin and the price fell and then the computers that support it left, then it would cease to be of value. I think that it might just be a bubble that is overly valued. I'm prepared to be proven wrong. I'd like to be. But it seems like it could collapse and collapse very quickly.
To this I say, what would happen if people just stopped buying it?
@@leonhardeuler675 Your question is irrelevant, if people stopped buying anything the consequences are obvious, that goes for every market and economy.
BTC provides with faster, safer and cheaper transactions. Not to mention the incredible uses of smart contracts in the cryptocurrency space. In the case of BTC its limited supply of 21 million if there is ever mass adoption then we are talking about a insanely undervalued asset.
Will there ever be mass adoption? I dont know if governments and banks will let that happen.
Should there be? Absolutely
“There’s a lot of motivated reasoning” in crypto. So true.
I love this debate style format, lots of video's online nowadays do not explore both sides of peoples thinking about a topic
You briefly mentioned NFTs. I see one core problem with them. Proponents claim they will help artists make a good living again. I have seen far more artists have their work stolen and sold than I have artists make money. The only solution to this is for exchanges to block the NFTs, but that is antithetical to all of their advantages (decentralization, peer to peer public record etc). This problem seems irreconcilable.
Edit: Basically all digital art can be infinitely reproduced. Exclusivity is inherent to the concept of ownership. I haven't seen a NFT that included the transfer of copyright to the buyer. NFT buyers own basically nothing.
I think the bigger problem is the real market cap for NFTs. There are collector markets, but that requires other things for people to invest in them. Pokemon cards only have such value because Pokémon is the biggest media franchise currently and the card game is one of the most played world wide.
It doesn't seem like a better option for artists than to make a patreon or make merchandise themselves.
there is theorsation that there will be technolgies in the future that will be able to digitally sign your identity using government documents and blockchains will enforce copyright autnomously through this anymoymous but verfiable digital signiture. of course this ruins the privacy aspect of blockchains though. Its still very early in the space I wouldnt say any issue is irreconcilable, a lot of smart people are working on solutions to these issues!
NFTs are (meant to be) decentralized proofs of ownership. I don't think they'll really *actually* work as that until legislation exists to recognize them as that. And then they'll likely have to be regulated in a variety of ways. For example, if a given artist does not want to issue an NFT from a work of art, if anybody else does it in their stead, there is no way that's actually legally binding.
Of course, if a state's legal scrutiny is necessary to legitimate any given NFT, that undermines at least *some* of the theoretical draw behind them. What will remain true once that's the case, however, is that you will be able, in a decentralized manner (so literally anybody could do this in principle), to figure out what account a given thing belongs to.
At any rate, whether NFTs have any staying power will depend entirely on what various states decide to do with them. Right now they are basically nonsense. It doesn't actually take a whole lot to make them more than that, and I guess that's part of the gamble people currently make with them. But in their current form? Yeah, they are stupid.
@@MANIAKAEMAN "Lots of smart people are working on solutions" while thousands of people are getting their work stolen and the thieves are making huge amounts of money.
Your theorized solution is predicated on existing institutions. Again antithetical to what crypto zealots say the whole point is: decentralization.
@@Kram1032 So the peer to peer, decentralized, anonymous records of ownership will only work once the government starts acknowledging them? Those two ideas don't jive. I agree they are stupid in their current form but no one has explained how to make them not stupid.
I was once a starry-eyed person who thought the world was going to get amazing once we had pocket computers (what I called the smart phone before smart phone was a thing). If that experience taught me anything, it's that any thing no matter how fantastic it _can_ be won't actually be what you think. Corporations will bend it to their will and do something completely unexpected to tarnish what otherwise would have been a fantastic leap forward for us as a society. The masses always loose, and corporations always win. The cards are stacked against us. Crypto will become mainstream, but mark my words it will not be the utopian future you imagine. It likely won't be anything anyone recognizes, but what it will do is make a corporation rich because that's how capitalism works.
Wherever you go... there you are.
Corporations will not be able to gain control of crypto. It is our money
@@joshn7232 man thats not even money!!! just numbers in internet
Something was made something was taken in return that's how it works.
Yeah, it's an interesting point you make. Using your example, smartphone technology was and is a fantastic leap forward, but it also came at the cost of surrendering all of our data and privacy. I think that is the risk that always exists with any new technology, that you can't have the good without the bad, because people will always find a way to use something in a malicious way that it was otherwise intended. Just like how you can use nuclear power as a source of energy or a weapon of mass destruction.
this is so incredibly well done. thanks for not only the research but also provide both sides of the argument.
This was really well done thanks man!
This was one of the best breakdowns for a beginner like me. I've been wondering how valid all of this is and now I don't feel as bad for now knowing seeing that it's only validated on the fact people believe and value internet content more than real life. Time, Tech, and money literally flew over my head. I don't think this will be sustainable in the long run though.
I can recommend this video. ruclips.net/video/YQ_xWvX1n9g/видео.html . He goes in very deep but explains it really well
Bitcoin might pair Argentina with anual electricity consumption, but it will NEVER compete with our inflation rates 💪🏾🇦🇷
Oh it might actually
@@senorswordfish6019 Compare 1930s Nazi Germany Vs 2020s Communist China IN YOUR NEXT VIDEO Project before it's too late
Yaa that's really good one... appreciate your work ..
Great video to watch right after the NFT video! Always a reminder for everyone to do their credible research before delving deep on things like Crypto and NFT!
Number 1 issue with giving people individual ownership of their own content online: non of us could ever afford the pure quality of a Johnny Harris video.😂
Before Amazon and eBay sellers had there own e-commerce website or didn't had online presence at all, most of those websites faded away after someone started providing value for free*
There will always be someone 1up-ing the game hence providing better value to consumer.
So were I'll be seeing Harris's content in future probably on a platform which is offering better value to both in a different space
This is what everybody needs , a Non-bias discussion of a Complicated topic instead of taking sides, As usual this Channel never fails to Deliver quality content!
Johnny Harris is the GOAT
No bias? You can clearly see what he really thinks.
OMG I love how you make own way explanation in your videos!!!
This video is a masterpiece. Can't imagine the work. Thank you Johnny!
I just had so many basic questions answered and had a fun time watching. Thanks for all your hard work and creativity, Johnny!!
One thing that's being missed for me is that regardless of the backing (precious metal, bulbs, governments, cryptography or distributed user network), currency is a convention that relies on the trust that other humans will accept it. That's it. You can't remove trust from the currency equation, and you need that trust to be there or we're back to bartering.
Now, sure, states can do silly things with their tender, but monetary policy (and being able to use it at the national or supranational level) is a massively helpful public policy tool. Are we certain we want our societies to have one less lever to use? How would a crisis like the 2008 one have fared without the possibility for monetary creation by Central banks? We see in the EU how having a unified currency sometimes puts smaller, less developed states at a disadvantage (hi Greece), are we certain we want this law of the jungle rolled out indiscriminately around the globe?
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Btc brings wealth, dollars brings debts; worldwide
good question, don't know the answer but i think we should consider all possabilities (like, in a crypto utopia, the 2008 shouldn't be possible)
@Stuart Griffin in that setup, I fail at seeing what crypto brings additionally to traditional reserves like gold - if it's a hedge against governments manipulating currency we're after, why go for one that's barely a convention, with no intrinsic value?
In general, when a currency (or assimilated) becomes an investment vector when it's not linked to any productive outcome, that's when I get worried..
Without the ability to print money governments would have to actually tax people to pay for things like saving banks in 2008, instead of sneakily devaluing their savings. That would put massive pressure on government accountability, which is a good thing.
In the current system the biggest institutions get nearly free money handed to them all the time and tax payers don't care because it doesn't seem like it affects them. It's a broken system where the richest have the most access to financial help because they're closer to the "printers".
Also Greece had decades of irresponsible spending and, because they couldn't print their way out of it, had to accept accountability measures from the countries that helped it, the horror.
Brilliantly executed, totally thought-provoking and informative, tantalizingly entertaining ... thanks for sharing, Johnny.
Great video! Love your work Johnny!
"So, keep your mind open, but not so open that your brain falls out." what a statement
Really appreciate seeing educated disagreement like this online. Respectful on both sides...
Good job!
Love this. This is what I was looking for.
Nice Content You have here on this Channel, I've been following your videos, but I still don't have a knowledge on how to trade on Cryptocurrency as a beginner.
No doubt Expert mrs Pamela Trading Services is very good, I invested $3000 and cashedout $24,250 after 2 weeks . I still wonder how she gets her analysis.
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OH...... ma God is this not the same Mrs Pamela Kay Weaver my neighbor are talking about
For people to talk all this good testimonies about her she must be very exceptional and trustworthy.Please how safe are the profits?
I have worked with 4 traders in the past but non of them is as efficient as she. I keep making profit every week, I made $15,700 last week
Simply, I still have my reservations on crypto. This is a big social leap that requires a higher commitment to digital progress. This can alienate the minority that may not have the infrastructure to be connected in a way that I take for granted. Also, the volatility and variety of the crypto makes me perceive them more like a stock than a means of payment. Regardless, I think that crypto currency and the like are still a good advancements collectively.
People asking to be paid in Crypto should be no different than being paid in another currency, like Canadian hockey players wanting to be paid in US funds. The difference is the stability of the currency, and protections from failure or fraud.
This is seriously a massive subject, but youre able to go through it all succinctly and got all the important things covered. This is just perfect for a quick lesson in case i need some refreshment. You are so fucking amazing johny
Your video came out pretty much exactly at the peak of crypto. Outstanding timing!
This was an amazing video! The humor, editing, memes, logical reasoning, acting, and even different types of clothing, which I think have some form of symbolism..., made this video from another debate-y, information down your throat, video, into one that is compelling and honest in terms of both evidence and reasoning. Hats off to you. I am intrigued to watch one of your older videos for the content and personality you exhibited in this video. I hope I enjoy it!
The problem with the “tokenized future” is one of enforcement. If today I sell my house, a realtor and an escrow company (the middlemen) will manage the sale. But they are backed by lawyers, which is backed by law, which is backed by cops with guns. That force matters. Even if I could tokenize the deed to my house it takes a government to enforce such contracts, so in the end I will always have to depend on some centralized agency with power over people.
I think all this hype over the blockchain in the US is to distract us from our crumbling government.
Don't worry we'll have decentralised police governed by Ethereum-verified public orders
@@bluelotusnanebi quiet...they'll hear you
@@bluelotusnanebi "Political power grows out of the barrel of a gun." --Mao Zedong
Tokens aren't supposed to replace the government, laws or police....
Mao Zedong actually also supported a decentralised legal system where the people exercised a form of "cancel culture". This makes me think that some form of centralisation would be needed to maintain order efficiently.
Thanks so much! I have debate class on cryptocurrency and this was so helpful! Thank you!!! Also, hey, was that popcorn good?
Also everyone, who do you think won? Johnny or Johnny? I think Johnnys argument was off the chart, but Johnnys argument was also really good. Hmm…. Who’s argument was better?
Really enjoy this channel, im interested in starting my own channel and interested in getting some details about your camera, lighting, and equipment in general etc.
Thanks for watching
Hit me up there ☝️☝️.
There are profitable nods and patterns I’d love to show you
Another fact which could be useful as well is that there may not only be a positive for governments to disconnect from currency. A government’s ability to control the currency and regulate the monetary policy has been essential throughout our modern economy. To be able to lower interest rates and print more money in times of economic depression, or to inrease interest rates and lower inflation in times of economic growth. The ability to temper the economy with these measures has given the economy and the people stability, and not go from bankruptcy to economic booms and back again in a matter of years like we saw in the 1800’s with enormous growth followed by catastrophic downturns.
in modern economy, all activities are closely interrelated and globally connected that the effect of one change can be felt immediately in other part of the chain. some sort of 'dampener' to this economic volatility is what makes central banks so important in any modern economy.
Yea exactly. We are already pretty bad at handling depressions with the current level of central control over the economy, imagine the absoulute hellscape that would become of the world if a stockmarket crash like 2008 or the Great Depression happened and the goverment had no ablility to interfere.
The government printing more money in times of economic crisis is what got us into our stagflation we are currently in. It will be good when the govt can't print an infinite amount of money anymore.
@@enider Markets would correct and house prices would come down. There would be a good correction. People only see the downside of potentially losing their job if they are working for an unprofitable company that goes under. Our government overspending and lending to the big banks is what got us into the '08 crisis
@@brent4073 Are you actually delusional, the goverment did not cause the financial crisis by doing to much but by doing fuck all to regulate the risky lending of the big banks. This then caused the possibilty of more damage, the goverment then decided that it needed to bail out these banks istead of giving money to normal people.
Can we all appreciate the fact that Johnny never disappoints us with his content. 🤗 🥰 🤚
My singular favorite journalist out there right now.
Solid video! Goes over the current challenges crypto faces alongside the current and potential future merits really well. Crypto is a very young industry rampant with volatility and security issues, but that's the weight early-adopters have to bear in order to reap the biggest reward. Ultimately this is a very speculative asset class currently and the future is uncertain. That's why it's critical to DYOR!
I realy enjoy your work. I am impressed by the depth and thouroughness of your research on all the topics you do, thank you very much and keep it up
He did such a good job with this video, I agree with what you said! He gives me so much inspiration with my channel!
BEtterHelp has the right to share your confidential information with others. They do not go by confidentiality policies as a professional practice would.
I can't believe he took their sponsor
@@18matts The idea is a good one as the world would likely be a better place if everyone had easy access to a mental health care expert so I can't really blame him for taking the sponsorship. Plus while you may know of bad things that they did not everyone on the Internet is going to know or believe those things to be true.
always my favorite videos to watch!
😭😭 thank you jo
😲Wow. Beautiful content. Thank you for this.
Good sir, well done. Thank you.
Johnny! great video as always, really liked the way this video was structured, you should definetly make more videos like this!
Finally!!! I've been waiting for this video from you.
great video from every aspect.well done. i prefer the optimistic view, because this is the world that i want to believe in, and there are not many optimistic things happening the last couple years. i will be as objective as i can, in everything that will happen, and if my beliefs prove me wrong, i hope i will accept it and move on, knowing that i have tried empowering something i believed in.
Really like all the videos you created! Really insightful and interesting
Loved this video format Johnny! Would love to see more videos like this when discussing other heavily polarized topics in the future!
I am from El Salvador, I feel optimistic about it but open to the critics and always learning. I don't think it's a great idea to invest in something you don't know or understand.
I want my country to develope and I hope that cryptos help us in doing so.
The US government only shows signs of not liking it and interfering with OUR political matter.
Please tell your politicians to stop meddling in our affairs and start taking care of your needs. Thank you.
P.S. watch the video about bananas.
Johnny, you are truly a great journalist and a presenter.
I appreciate how you do this video in a debate-style so we can understand both sides better.
Thanks for the effort to create this vid.
That was helpful. I am also undecided on this