Scams, Zealots, and Jet Skis: Life Inside the Crypto Scene | Spiraling
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- Опубликовано: 12 май 2024
- Cryptocurrencies, NFT’s, and blockchain have attracted a lot of attention in the last few years. Bitcoin evangelists say it’s the way of the future; that it will replace central banks and become the world’s currency, divorced from corrupt politicians and hegemonic monetary policies. Sceptics say it’s a ponzi scheme akin to tulip mania and is destined to fail.
Even with the volatility of the currencies, crypto becomes mainstream every year. Legacy banks now consider it a currency of interest, El Salvador made Bitcoin a national currency, and many more common folks beyond the fratty bro scene have started to use it practically.
VICE Producer Zeke Spector has been investing in Crypto, mostly unsuccessfully, since 2017, when he put the remaining $198 he raised for his college thesis into Bitcoin and Litecoin. When it lost money, he hodl’ed. When it was up, he cheered. And then he sold, still making a profit, but like a fun profit. And then he bought the dip and lost some money. So he's in the sceptical crowd, but willing to listen.
Zeke spirals down the rabbit hole looking to see if crypto is just another ponzi scheme thought up by the rich or a true game changer with benefits that allow the common person more autonomy and freedom over the financial system.
00:00 Intro
00:50 What is Crypto?
02:14 Bitcoin Conference
08:11 The Bitcoin Parties
11:36 Jet-Skis
15:33 NFTs are they a Scam?
19:52 The Future of Crypto
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Crypto Cringe
We’re addicted to cringe. We can’t stop clicking, listening and watching. Views don’t lie.
@@bloatedsodium7301 it’s true, I can’t help but look
Yup. The decline has begun.
I know black guys acting like they understand what wealth is.
😆 🤣 😂 😹 😆 🤣 😂 😹
They think Micheal Jordan and 50 cent are wealthy.
😆 🤣 😂 😹 😆 🤣 😂 😹 😆 🤣
Like Mike tyson wealthy lol.
“Stop being scammed by wall street, get scammed by us instead”
At least Wall-Street is made up of companies that invest in companies that produce things that are then given back to society.....
Yk what’s funny is these chuds didn’t invest into crypto they could’ve actually made decent returns in dividend stocks lol
Wall street owns the coins. Most om wall street are themselvs gamblers. And wall street are always looking for new way’s to 1: hide money 2: make money
@@aztronomy7457 and?
@@lemonmystery4049 Financing, as much as it puts dark bad taste in everyones mouth, is one of the most important aspects towards prosperity. Investing in Wall Street gives money to companies who use that $ to make things, which we receive in terms of products and services. Investing in Crypto does....None of that.
' The trouble with loyalty to a cause, is that the cause will always betray you..'
Who the hell is this quote by? YOU?
@@boblarson7694 this guy ruclips.net/user/clipUgkxf9VKxM4-zA32XxCTSXJC5xhY_naltDMV
@@boblarson7694 I don't know why this made me laugh so hard🤣🤣🤣🤣
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
I always found the idea of using spreadsheets very time consuming and unnecessary. I just dump a bunch of money into my savings accounts each month and keep my spending money in a separate account and try to spend as little as possible.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Yes i agree and right now the markets are going berserk right now. This is the best time to watch them, get to KIMBERLY JEAN HEAVNER’ she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.
@@tblazegutt True, we’re only just an information away from amassing wealth, I know alot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?
I love her insights and innovative approach to how her ETF’s are run. So different from the stale methods of managers I’ve worked with in the past. She will continue to do well and I will continue to listen to her more. You can just put her name on google and you will be directed to her website and drop her your messages.
I love how Arsalan swears his NFT project is legit, then goes on to explain exactly how the rug pull worked. "If you sold at that moment, you made money. If you held on to it, you lost money." You just admitted your project was a scam and had no actual value! Just genius.
"That's just how it works."
The Future of Finance/The Internet/Society/*Insert vague bullshit term here*! Can't wait.
Big facts! 😁🚩🚩🚩🤦🏻♂️
This is how it all works. Easy money, just don't be the last one out. When a coin explodes, dump big cash quickly into to. Wait a few days and dump. Might only 10% profit, but its safe.
all crypto is scam
@@Red_Dusk oh course, just depends how good you are at scamming other people :)
I love watching everyone explain crypto with generalized buzzwords.
Reminds me of the last MLM pitch that I sat through
Its not technology tho. LOL
Take a shot every time they use a buzzword. Take two shots of they say it with a smug ass grin/tone.
Exactly, there's zero substance to what they are sayin.
@@moonlightrobbery we’d die pretty quick from liver poisoning, lol
I was in my last year of Uni when NFTs became a thing. Like most art majors I thought about possibly minting some of my art and making money off of it. The problem was that the more I looked into it the more it became clear it was a risk that had no chance of reward. I kept seeing red flags and keep thinking back to something my grandfather once said "If a potential investment is pitched in a way that is hard to follow, uses more than three buzzwords, and can't be explained without those things. It's a scam." I liked the idea of something like bitcoin and Ethereum. But the more I thought about it the more I thought it sounded like in-game curancy with no real value.
No doubt our grandparents are wise but they are also boomers. Technology advances quick and the new generation adopts. The first to see the potential and find the gems produce generational wealth. It's not for everyone but it soon will be.
No critique for fiat tho.... just like this vice dude.... that one of the reasons i cant take yall serious
@@veteran_united3472If you are being taxed in Government currencies, what use would Crypto be? At the end of the day, Government backed currencies will always be more preferred since they'll have the power to pay off your taxes
My god. These are the rejects of the frat bros.
Amazing.
🤣🤣👍
🤣😂🤣😂ikr
"Poor people have never had a chance to hide their wealth" Poor people are so good at hiding their wealth even they don't know where it is
Poor people’s wealth is in the pockets of the wealthy
Billionaires are inherently unethical and exploitive
Damn that's the comment 🤣🤣🤣
Also they can’t hide their wealth bc if they get ten grand they’re gonna get them a new to them car at the buy here pay here
😂😂😂
As soon as the public are being asked to buy in its already to late they are at events looking for victims
It's the classic bag holder system
I LOVE the fact that the victims were able to leave that message to the heart souls. They were able to tell that guy off AND they are no longer victims! *ApexBureauService* you are such an awesome force be reckoned and that is why I watch you!! Keep up the good work!!
"Poor people have never had a way to hide their wealth" is like saying "people without teeth have never had a way to brush their teeth".
"It's not a technology" so can you explain to me how you get your bitcoins without technology? Lmao grifters gonna grift.
@@damnumonkeyballs Totally. And the argument that Bitcoin is going to succeed because it allows people to commit felony tax evasion seems a bit questionable to me too lol
@@damnumonkeyballs they have bitcoin atms
@@DJTLaRoss
people without teeth don't have cavities
Hahaha, you are so right. I was like there is something off about that argument when he said it
This is a deeply, deeply weird psychological phenomenon
These guys were the guy with a trench coat selling fakes a century ago. Its just a new side of the same behavior
“Running of finance on software instead of institutions” lol Jesus people are so stupid… nothing about this is new.. a bunch of greedy people and a bunch of dumb people and this always happens until laws are passed.
@@JohnSmith-sb2ps it's anything but efficient. it's a drain on the energy system, it's slow, it's expensive to move, and incredibly volatile.
@@enemy1134 thank u for this comment lol i thought this was common sense 😭😭😭
@@JohnSmith-sb2ps Bless your naivety and gullibility.
Hello, I'm new to Biticon trade and l've been making huge losses but recently i see a lot of
people earning from it. Please can someone tell me what to do?
@miles walker How can someone know a professional account manager that is
trustworthy when legit once are hard to find this days.
@@mileswalker7816 Does she also offer mentorship, lectures and tutorials and can I copy her trade?
Just remember this: The evolution of money went from Bartering, to Spade/Metal Coins, then to paper form, alas Plastic Cards, to Electronic Mobile Payments, and who's to say it won't evolve to Virtual Currency? I generally don't overlook the importance of evolution thus why its important to keep an open mind of what the future may hold for future generations.
You know what will ALWAYS have value for trade (even in WWIII and no electricity) and ISN’T imaginary or a scam? Liquor and Cigarettes. Thank you for attending my Ted Talk.
And weed
Was gonna say food but hot damn you right!
Drugs are bad mkay
@@firstlast8258 you say that because you never tried shrooms have you?
@@firstlast8258 no where near as bad as liquor alcohol
The reasons no cameras are allowed in that party are:
People don't want to be caught cheating on their partners, snorting cocaine, or letting their bosses know where the missing money went.
nope thats not it. high net worth crypto people don't want to be identified because if can arguably be targeted. The thing about being your own bank is your also responsible for your own security. Someone can take your money by force if they know you have coins.
@@sirij8784 ALSO true.
Dollars are printed free oh and no limits
@@jamess.2649 True, more dollars are printed and put into circulation than taken away from the economy. But their value is backed by the government of the USA.
What is that 185K watch worth now? The same folks that were scammed with BTC bought overpriced watches that we’re selling at 4 to 5x MSRP. There will always be folks like that. We need them to be around.
As a lawyer I am telling you to please stay away from 99% of crypto investment opportunities. They are going to take your money 9 times out of 10. Also, the entire project is a disaster waiting to happen. This isn’t every single project, just the majority. Please do your due diligence before you put a single penny into any crypto.
“It’s doing exactly what it is suppose to? “And then compares it to gold.
Sorry gold doesn’t drop 80% in a year.
When people talk in phrases and not explain the reason it’s most likely bs.
Its gonna replace gold soon, people will get left in the dust for not turning to btc right now early stage
@@rezb8186 yeah the day I'm able to spend BTC in as many places as I can my cash and as easily will be the day I worry about "being left behind in the dust". As of right now I'm not particularly concerned
@@teethgrinder83 By that time ur already left in the dust, its exponentially growing and sometime in the near future will crack the existing financial system due to the money printing done from governments. Bitcoin will shift the whole system when it grows beyond expectation. Money will always be printed and Bitcoin will benefit from this forever until they replace the dollar or stop printing. Just look at 2020 march no further, massive printing which bitcoin benefitted from and f* their strategy. Learn or go away fool
Gold is an actual commodity. It has a real life use and is needed in many industries. Crypto is literally worthless.
@@rezb8186 one day your crypto will be as valuable as dust, get out while you still can. It's not FUD, it's just logic
This is reeks of a Tony Robbins convention in Vegas. Everyone convincing themselves they're going to make it rich, they've got the answers and the light is right around the corner. I can only imagine how overextended, indebted or just flat out broke many of these clowns are.
Leave tony out of this
So u went to a tony Robbins event?
@@davemathew We all know what those sort of desperate events look like from clips.
All just absolutely phenomenal at patting themselves on their own backs
the point of the technology is not to get rich, like the point of an NFT was never to sell stupid computer generated GIFs for crazy amounts of money, but bcuz the govt fails to regulate the fraudsters out of the industry, like it fails to regulate ai, autonomous veichles, genetic research and modifications, EV and more, we are falling behind the world so fast it will start hitting people like a brick wall soon, the EU contracted cardano to onboard the EU population and create Digital IDs, the amazing legit side of crypto would take a season of shows this long to even begin to explore
so cool to watch him buy a watch with crypto (that is tied to the USD, so effectively fiat money with an extra hoop to jump through)
"I returned, hobbling to Miami after I broke my foot getting up to pee in the middle of the night. Something almost as embarrassing as my decision to buy some bitcoin right after the conference" I love Zeke Spector's style and the stories he does, dude is hilarious.
Reminds me of every kid I met from south Florida in ‘05-‘09 while I was at FSU that started as a business major but ended up dropping out. “You just don’t understand business, bro.”
What did you know that they didn't?
@@JeffCaplan313 for starters that Amway was a pyramid scheme.
@@samkessler1111 Which way isn't?
@@JeffCaplan313 Always.
😂😂😂.....first it was Forex trading, now Crypto
I've been waiting for this and honestly was so surprised how long they were able to get away with this. I just hope there aren't a lot of suicidal young men who got ripped off.
Oh..there are. Its gonna be badddd
@@TheGhostOfMichaelJackson 82% is over, 82% is factually a scam. Hard evidence
@@TheGhostOfMichaelJackson and it will get funnier and funnier as people try and hang on for dear life
Masses of young men end themselves every year. The gynocentric society kills more men than crypto scams ever could
@@laundrieshanging9077 😞
As Warren Buffett has said, this will all end badly.
Crypto isn’t necessarily inherently fraudulent, but it def is suited for it technologically and it def attracts the scammers/ppl experienced with fraud. Rug pulls, pump and dump schemes, the anonymous and decentralized nature of the industry makes it ripe for this.
At 16:50 when he says “if you put the right influencers behind it, you can sell out”
He really means,
***sell out your fan base***
Thats the most Logan Pauleske thing ive heard in a while.
He slowly described a rug pull throughout the conversation. If you have to get in early on an "investment" to make money it is most definitely a scam. These people are predators that take advantage of the FOMO.
The financial illiteracy in this country is honestly quite sad
I've studied finance the last twenty years, I understand it's value, I've made money in crypto and never been scammed.
@@davycrockett8886 lol🥇
@@Fronted sure, Jan
We do need mandatory class in high school and college for financial literacy and personal finance
@@davycrockett8886 its*
"it's" is short for the phrase "it is". By typing "I understand it's value", you are saying "I understand it is value". It seems now you need to start studying proper spelling, grammar, and punctuation because what you typed is hard to look at.
Jet skis and a 200k watch, very practical
Thank you VICE! You're doing important work!
Crypto, NFT’s and most of the crap peddled by the influencers is a con or scam. You will lose all your investments. Fact…period. Criminals are different looking than they used to be. They are your favorite internet star who you look up to.
Everything is a scam . Food .doctors .. its all for profit . Wake up .what this does is give anybody a chance to be rich not just banks and government .wake up
Only if you're an idiot
you've been getting ripped off since the day you were born INFLATION you know that right? yea it's the best and the most genuis way to scam someone without them going crazy and also don't forget taxes it's even worse than inflation you literally handing away your money to the big bad man
Hahah stay broke kid
🤣🤣
Foolish me for thinking Kid Miami was going to buy groceries with his Crypto money...
You can buy groceries with crypto. Most likely it will become bigger through stable coins.
That was my first thought😂
I was ready to see which grocery stores or fastfood shops accept them.
Maybe he'll buy it after selling that watch for traditional money🤷🏾♀️
Nice job in the story. Hope the foot is better. Wonder how the interviews would go this week..
So I guess Vice only allows comments on certain videos 🤔😂
Well have to use a comment section on another video to say what we want.
Crypto is the biggest transfer of wealth in history. From the poor to the wealthy
Or stupid to intelligent
@@jscottabbott intelligent? more like criminal fraud, behold the large collpases in the past year alone. stare at SBF, he's the poster boy for this fraud, while rest are still walking free, for the moment.
lmao. nah. crypto is the sad, depressing pursuit of greedy fuckboys
@@jscottabbott Being a trust fund baby and creating a coin doesn't require more then a 12th grade education
Biggest transfer of wealth from my wallet into mail order MDMA
MAN, flipping the bird to wallstreet ! This is so EDGY, those guys live on the edge omg...
MAN .... I've been waiting for this.....
Max got so fucking rich because he got in early whilst advocating for Bitcoin on major news networks all over the globe as a stock market pundit (he’s an expert). He basically introduced/sold the idea of bitcoin and crypto currency to millions of people around the world while aiding in its increased value - top marks. I personally don’t invest, but it’s impressive what he achieved.
That said, him and his wife seem off. He isn’t that sharp Max I recall on RT or the BBC. I realise he’s enjoying the money, but damn I cant help but think this couple are on drugs. I hope they are ok and know what they are doing.
him and his pirates of the carribean wife are high as kites...must be doing a bump or two right before brushing their teeth.
Drugs are bad .. mmmmkayyy
They are shilling their zero privacy scam. Of course they know what they are doing.
So glad to see Yung Lean doing well and hosting for Vice
Not even close. This guy's more of a Barry Dillon
For me that whole association kicked in hard when the jet skis came in to play.
I don't know you but when I was a kid they taught us what a financial bubble was by teaching us about the Tulip Mania. It was a simple enough idea: when you see something with as little use value as tulip bulbs trade for more than the value of a house, that is the clearest sign you will ever get that you are at the top of a bubble and that it is going to take a lot of people down with it when it bursts.
Anyway, people are trading links to ugly jpeg files for hundreds of thousands of dollars now.
Jet-ski'ing in a button up Oxford 👕 👔 is wild
Just a word of advice: Most of these "early access" chatgroups that guy talks about are scams themselves. They tell you that you get early access, while in reality the real initial holders are offloading their coins onto you.
Stick it to the man…by becoming the man. It doesn’t matter who or what, the end game is the same. Somebody is always left holding the bag of nothing.
Under capitalism
@@ClassWarVeteran and communism
The luxury goods salesman at 14:20 said that buying with crypto is a good way to get "actual assets". So he doesn't think that cryptocurrencies are real assets.
Great show. Glad that he went out on the water with that broken foot.
"Poor people have never been able to hide their wealth" crypto truly attracts the best and brightest
the poor typically dont own assets. with the money printing that the central banks do, which causes inflation, the rich who own assets such as real estate or stocks have their values appreciate
@@beefyogurt Money printing doesn't cause inflation, multiple illegal wars and 20+ trillion in debt has debunked that theory.
@@thejquinn how else are wars funded? taxes and the hidden tax of currency debasement through added supply
@@beefyogurt Except the dollar has never been stronger, so where are you getting your info that the currency is being "debased"?
@@thejquinn it's lost 99.6% of its value in the last 100 years
If Crypto is this insanely undervalued asset, why would you use it to rent jet skis?
Depends on how much that person has in BTC. If they have hundreds of thousands of dollars in crypto why would they care for that small ass amount of money they can just throw into BTC again at anytime?
It boosts the value of the currency as it its use is normalized. It's hard to argue for individual transactions, but a collective effort, which many people in crypto value, will drive up demand for the currency as more businesses accept it. I get the impression that this person accepts crypto for whatever services he provides and trades may occur several times a day; so, in the short term, trading in BTC (for example) more or less evens out.
Also, some people have abandoned fiat to such an extent that the variable conversion rate to USD is unimportant. And, as I understand it, many big time crypto folks compare the relative value of comparatively minor coins/tokens to major currencies like BTC and ETH rather than USD. So, fluctuations in perceived value (as measured in USD) across crypto are not so impactful.
@@mikefaulksy1447 because that 200 bucks to rent a Jet Ski would have a higher future value. That would be like trading Apple stock in the early 90s for a pizza.
@@tedphillips3119 u make an excellent point
@@tedphillips3119 How high do you think that $200 can realistically go in like 5 years in BTC? like $1000? Thats not much to care about.....
Super cool video! Do you think mining Gorilla GPUS will pump before ETH? I ask myself if there is a pattern in the order of the altcoins pumps.
You are the beasts catching these scammers and making the Internet a better place, #Adriannotch The goat back again with another absolute banger.
It's genuinely hilarious that the squiggles guy says it was totally not a scam and then immediately says he rugpulled to make a bunch of money.
he never said that at all?
@@vlone586 maybe listen again
A rug pull is when the owner steals the money and disappears
Its hilarious how turned on these (mostly men) are by the whole “anti-government” aspect of this but 99% of them cannot put into words or explain how it benefits them or society. Its quite literally people who want to be edgy and cool
And get rich quick.
how else can you send any amount of money, to anyone in the world, for pennies, with no government or bank oversight, no 3rd parties, no middlemen, instantly? I think they explained it enough to where you should be able to conclude the benefits yourself. Don't be so short sighted. It is quite literally the most profitable investment of all time, still even at this market cycle bottom.
@@JunkBondTrader ah and you teally think of IT becomes bigger and bigger there will be no middlemann, no state, ... who will step in to close the gap? Then you really don't know how the world and financil system work, if it's so big then it need to bei revised, it need to be controlled and this ist what governments will do then.
@@JayKay490 If you believe what you just typed then you my friend deserve all that comes with holding fiat. The entire purpose of bitcoin is the extraction of middlemen, even if govs get involved they won't become middlemen, they'll be no different than an engine in a car and not a giant man pushing your car for you.
It still doesn’t answer the single most important question…how does it get its value?!! If it’s based solely on perceived value, then it’s worth whatever I say it’s worth. Giving it no true value, therefore still making it a scam.
You just described the US dollar
Yeah seriously ☝️
That is the US Dollar
ive always wondered what crypto was now after watching this ive still go no idea what it is
It’s just a fake currency you can buy online. It’s like a stock but while a stock is tied to a real company selling a real product, crypto isn’t tied to anything. It’s just a virtual currency that anyone can start. Hence why random RUclipsrs and Trump start their own currencies, hype it up and then sell when it goes up and let it crash for everyone else.
This is a pretty severe example of the wealth divide growing even wider and the despair the working class feels as they desperately try to get into these schemes in order to escape modern slavery in trash jobs under extreme capitalist environments. When everything feels like a scam, it feels acceptable to participate in scams to "earn money" even though nothing of value is being produced.
Almost like it's been planned all along
The only modern slavery in this country is in prison. In regard to the working class, This is 100% yalls fault. You willingly and happily allowed companies to overturn and undermine your workers rights and you complain and protest against raising the minimum wage. You won't unionize and you glorify these gigs(uber/doordash/etc.) which are not real jobs.
What exactly did yall expect to happen?
Excellent point.
@@TychoKingdom I entirely agree about prison labor being legalized slavery, it is some atrocious garbage.
However, in regard to your other comment, one only needs to look as far as the failure of the railroad strike to see how far strikes go in some industries that actually have the influence to make a difference. Attempting to unionize in other positions often gets people fired, so one is often either in a privileged position or doesn't care if they lose their job. But yes, people tend to accept things as "just the way the world works" even though this is a relatively recent shift in economics in an unfavorable direction for workers. The scope of it is often beyond those that don't/can't take the time to learn a bit. It's frustrating to see and try to converse with.
There literally aren't even enough jobs for everyone in the US, and most people are not yet class conscious enough to see that they will never be wealthy (let alone understand that wealth almost always necessitates exploitation of fellow humans), no matter how hard they work. Those with capital hoard wealth, reduce jobs, and drive a narrative that pits people against each other to the point that it is difficult to even take time to become aware of what is going on. It might take a couple more years before this "grindset" stuff is finally rejected.
Many people are born into the system, still trying to survive, and will take anything they can get. I don't blame these people. I blame the capitalists for the moral failure in their choice to exploit those people (and workers in general).
Bang on the money
I love reporter is one my favorites , just a normal guy with a mic,very refreshing
BTC and cryptoc's have actually served a purpose; it has demonstrated just how dangerous it is to society when a large chunk of the population gets rich without having to earn it. Every time a crypto bro goes homeless, an angel gets it's wings.
Yeah, got a kick out of the guy who defended the power of money to make oneself happy. Might be a wee bit more to it that he doesn't care to look at.
People aren't using bitcoin for what it was created.
"Poor people have never been able to hide their wealth" insightful, he truly is the high priest
Always be careful when trading cryptocurrency. Always ask for help as this is how you avoid losses.
Very hard to find, i can understand. Larry Kent Nick became an exception for me, i earn $16,300 weekly using his methods
@ Larry Kent Nick Trading
I still remember the first week i contact Larry kent nick, his strategies are were very adaptable and brought straight $18,680 to my bitcoin wallet
Anyone that reads this thread should know this is a elaborate text string that leads to a scam 👍🏼 hope this helps someone
@@decklanhobbins575 This just blew my mind, the lengths people are going to now just for a quick buck off poor souls is astounding
My deepest condolences to the crypto investors. My condolences to their sheer Idiocracy.
LOL ok buddy. I bought 30 Bitcoin at 117 USD and still own it. I started mining ETH in 2015 on a 3000 dollar computers. I have over 400 ETH> a 6000 dollar investment has turned me ito a millionairre. Right.
yup got in when eth was under 10 dollars and btc was under $100 myself over 10 years ago. RIP
have fun staying a brokie
"Paper money has no intrinsic value". Now gold, on the other hand, is nice and shiny! And if you put it on audio connectors, you get much better sound, for reals!
That kid denied committing a rug pull scam while also explaining how he committed a rug pull scam in the same sentence.
Haha, yeah you could it see it in his eyes when he was explaining the 'market timing'
If they sold at the exact moment of the listing they would've made money, but if they held the they lost it. Not a rug pull at all but to be fair that probably also accurately describes half of all share market IPOs (certainly the ones I bought!)
I find it funny that the crypto crew always talks about banks taking advantage of the "everyman" yet all the scams are from crypto bros... hmm..
Yeah, the "pot calling the kettle black" is a crypto bro flipping off wall street for stealing money from the working class
Yeah, my bank hasn't "rugpulled" me yet, nor did it lose 8 billion because of a "badly labeled account".
@@yuotueb couldn't have said it better brah
There are a lot of scams happening in the crypto scene but this doesnt mean that the banks don’t take advantage of everyday people like us.
There will always be scams, it doesnt matter what currency
@@drowsy4400 please refer to yuotueb's comment above yours
Once the power goes out how will these get spent?
Lol, I was thinking the same thing!
Solar
^underrated comment .
@@djonenonly8381 but what about… at night?
"Instrument of financial terrorism" this is indeed the most Bitcoin thing you can do lol
I believe it tho.
I just watched a report on how red lining was used to deprive black cities in america of wealth. And to this day city black parts of the city in Baltimore, for example, that were targeted are in a state of decay. And cotizens have to fight banks for financial investments even tho its the banks that created the problem in the first place. Is that not financial terrorism?
So i see what they mean, its just is this the right solution. Thats the real question.
@@royroy8697green line and red line
BTC used for human trafficking..noice
@@colinashby3775 So human trafficking never existed before BTC? 🤡
That guy used to be a grifter for Russia Today News.
Now he’s moved onto being a crypto scumbag.
this video feels like it’s a decade old given how quickly things have moved for crypto in these past few weeks
Were a bunch more projects revealed as scams?
There are scams everyday bro 😂 if you are smart enough to detect them. You won't get fucked. Know how to play the game.
@@salvadormunoz8525but all of them are scams. Or you mean the “game” is that you end up scamming others by getting in earlier, so you dont get to hold the hot potato in the end?
@@yuotueb how many companies fail outside of crypto and people lose money, owners go bankrupt to avoid paying customers? Scams happen everywhere
A job well done, *Adrian notch* - Your
being out there fighting these scum is a relief.
The public and especially the elderly are
vulnerable to these despicable scam artists, and
we must take all necessary measures to
safeguard them. I am really happy for you! Keep
us secure; for that, you should get the Nobel
Peace Prize.
NFTs are the stupidest thing in history
When I saw NFT prices, basically digital doodles, going up and up you knew it was just another bubble market and at any time it could burst
Funnies line "were just looking for the truth..." from Vice that's hilarious
I loved Stacy Herbert on "Schitt's Creek"!
Soooo crypto user hate government currency but yet they convert their crypto to currency. Am I missing something?
yes, a lot. Crypto is new, the tech is new. It will become a currency accepted everywhere eventually, but that is a monumental goal to achieve. It takes time. Some companies accept crypto, but there needs to be a bit more regulation before major companies are willing to accept it as payments. They will. It's much more cost effective to use.
I think you nailed it perfectly… Bitcoin-digital currency for those who hate government.
@@JunkBondTrader In Switzerland already some McDonalds accepsts crypto.
@Junk Bond Trader I hear Junk but let's be real this is not new tech. We have been moving away from physical currency to a digital currency for the past 30+ years. My generation (genX) are the main ones who stopped using physical and started using digital through credit. Which in a way is the same concept as bitcoin only it's regulated. So why bother with bitcoin if they are going to still transfer monies to a regulated currency? Because unregulated currency bring you people like the Sam Bankman of the world.
@Me TU yea I'm still waiting for at a minimum a manual to explain Bitcoin that doesn't introduce an argument against government currency lol.
"Crypto is a way for poor people to hide their money" LOL he really did say that
poor people dont typically own assests (real estate, gold, stocks)
when central banks print money (causing inflation of everyday goods being more expensive for the average joe to afford because their salary increases at a slower rate) assets rise in perceived value as you need more devalued units of money to buy them
@@beefyogurt crypto in a way is also an asset though, why would one assume that the poor couldnt buy real estate/stocks/bonds/mutusal funds/gold but somehow crypto is significantly more accessible to them.
The cornerstone of such argument is if crypto could hold its own value better than fiat, which still hasnt been proven yet compared to those asset classes.
Max is spot on. BTC is in a class of its own and can never be recreated.
Other projects doing other things are a completely different topic.
Man, this one hit me in the heart. She reminds me of my aunt, who is an incredibly giving person and donates more than anyone - know.
Sometimes her kindness is taken of advantage of, and it makes my blood boil. Thank you guys for saving her $980,700. You dramatically changed her life for the better. The scammers don't stop after 1 success. Thank you, thank you, thank you Nicholas and *Adrian notch* . You guys are heroes to me. . I'm just SO happy this dudes is coming back stronger than ever and i can't begin to express how excited i am for the future jobs. i love these guys SO Dearly
"you can borrow against your NFT's"
I really wanna know who's on the opposite side of that doing the lending.
I can't help but feel like crypto was a good idea, and an impressive feat of information science, until influencers, Bitcoin Believers, internet-naive boomers, and get-rich-quick scammers got their fingers on it. And now it's just another thing social media meme-ing ruined
you will be surprised lol. Memes cant ruin revolutionary tech.
But it's like, how can its creators not have guessed something like this would happen?
It was never a good idea to begin with. It is insanely wasteful (the crypto space uses about the same amount of energy as a small country). It is an easy way to launder money, trade illicit goods, and avoid taxes. Any legitimate user though, if it were used as a real currency, would have all of his purchases and dealings publicly available for anyone to see. Not that that would ever happen because due to the extreme latency on the network it will never be viable to be used as an actual currency.
Don't forget the abject stupidity and unwisdom of the people who ignored Roger Ver. Ver saw the good trends dying...and warned against going in a stupid direction that would psychologically "kill the momentum."
@@jbird4478 Your comment is dogshit because it implies you don't understand what makes a trade "legitimate." The things you're calling illegitimate are all mala prohibita...something which has no right to exist in a free country or free market. Ought we continue shoveling human effort represented by currency units down the rat-hole of "trying to cripple the economy and succceeding"?
What a legend of a reporter
Seems like there's much more to the crypto scene that we don't know much about in full detail. We appreciate Vice for their hard work. Happy Holidays everyone.
Lol they hardly looked into anything. One man RUclips channels have done better investigations and this is an actual media company. 😂
BTC is a scam anyway so no one cares
@@blakewisswell for real
vice and hard work lol
The bulk of transactions are illicit for starters - ransomware, money laundering, terrorism funding. For a speculator there is rarely, if ever, a reason to spend crypto in the real world and almost no place to do so. Until grocery stores and gas stations are taking crypto as payment, you can rest assured that the overwhelming majority of crypto payments are for no good.
The quesstion about crypto is: ' is it a scam or a fraud' ?
Bro there ain’t no sales tax on a business taking USDT, bro got finessed😂
Max (The guy tearing up the money 10 seconds in) is not "doing the most bitcoin thing ever at a bitcoin conference"- the dollar is not worthless, it could be traded for Bitcoin so for as long as you believe Bitcoin has value and view exchanges as a liquid market, that dollar has value. Moreover, tearing up that one dollar actually makes the rest of the dollars worth a little more- so if the purpose is to move toward a more BTC progressive world, this guy here in the white suit has missed the mark
That guy came across as such a collossal douche. He didn't say a single word that would appear to qualify him as any kind of expert... only a vapid showman.
Well gold and Bitcoin do have something in common. The production of both are extremely destructive to the environment.
Humans are. So end humans?
@@Dan16673 Well humans don't actually have to be destructive. So no don't end humans. Maybe some.
@@Dan16673 already in progress.
not necessarily - read into BTC's energy usage and methods from the mainstream media AND other sources, including the technical ones.
@@Dan16673 just because humans are too, you're going to justify everything that destroys the planet? How tf are you even comparing living beings to fcking crypto
Nothing worse than greedy rich people
Nothing worse than bitter poor people
Greedy poor people…
@@archiehickox6518 you'll never be That Guy lol
@@GnomePilledGoblin you're right, I'll never be a bitter poor
Agreed, the Central Bankers and Wall Street are evil.
So similar to gold. Really want one of these blockchains. Can I buy from a jewellery store?
"It's an interesting crowd" says the lady casually wearing a flight suit like a Top Gun extra.
For the most time of this year if you would invest into anything it is not doing very well I mean that's pretty obvious. But the launch of AZ54T plays a different game and it is less affected by such moves as the utility is simply too strong. Just my bet
Obv scam
alright Mr. Scamidy Scam
good scam
FTX 2.0
So crypto and nft's are good even though everyone is getting scammed left and right? Great video Ferrrrrrrrrrr
yeah the internet sucks too because it facilitates scams, right?
@@JunkBondTrader huh only if you dumb enough to fall for a trap and aren't careful.. all NFT's are scams and crypto is unregulated. Only 1 percent gets rich and they are the same 1s everytime hmmmm
"People by their nature are greedy" This is a man telling you about himself.
Its good to see Keiser has put his talent into good use. He used to sell the immediate collapse of all currencies and advocated shady gold exchanges before the advent of crypto.
Respect to anyone that was strong enough to sit through this entire 22 minutes. I barely made it to three I’m done.
Uses crypto but still pays sales tax 😂
That was the biggest red flag ever.
True. But my guess is that he was able to transfer BTC to the jewelry as a trade and avoid capital taxes. It would make sense that BTC owners avoid taxes this way and save untold millions or billions. It would make sense they want every business to accept their made up currencies.
I mean, what else would you suggest? It's either that or tax fraud?
you have to LOL, theyre selling a good. Not only that, if you buy crypto for cheap then use it to buy something, you have to pay capital gains taxes on it it too, same as if you sell stocks or any other asset to make a purchase
Gosh these two last guys are a perfect example of average crypto enthusiasts that don’t actually understand what blockchain/crypto is. Sad to watch how people are getting ripped off.
The guy that bought the AP watch with crypto is now winning big time! The coin has now very little value but on the other hand that watch is increasing in value or at least retaining. Smart guy.
The guy badly haggling at the watch shop killed me
The watch guy hit it on the head when talking about accepting Bitcoin for luxury wares-
"It's a good way for people to unload crypto into actual assets"
Gorilla GPUS is my safety asset and tether, so I’m happy to hear all this!! Thank you very much
Watching in December 2023
This is entertainment!
Ever since nfts started I knew how stupid they were and are
Rip to all the nft and crypto people who got scammed