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Cryptocurrency, ah, a video I intended on doing a long time ago but…didn’t. See, I used to trade this stuff, and have heard all the arguments in support, against, and everything in between. But now it’s time for me to say something. Probably. Maybe.
Don’t go to the moon. It’s cold, and oxygen is hard to come by.
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If you want to know more, watch Folding Ideas 2 hour long dissection on why both Crypto and NFTs are not only useless, but a scam and a psuedo cult.
https://youtu.be/YQ_xWvX1n9g
Why do people like crypto? Because it’s… worth dollars lol
Crypto is ironic because the only way people are making money is because they’re exchanging their crypto for cash. There isn’t really anything tangible to buy with crypto, so you can make $20,000 but the only way you’re really getting that value is because you’re converting to a totally different currency. When you can buy groceries and pay taxes with crypto, it will actually carry value because you don’t need conversion to maximize its utility
Yeah just let one corporation determine how much worthless currency is printed.
Answer this then you'll know something. What's the difference between cash vs money?..
money is not backed by work. governments can create money from literally nothing whenever they what and that is exactly what they do. today we have 80% more dollars in circulation than 10 years before and that is why inflation is so high and poor people can by less and less every year
Okay as a “cryptocurrency for dummies” but does not fully explain what cryptocurrency is or does. Low brow pieces like these are entertaining and worth bookmarking and revisiting 2-5 years later to see what was accurate and what wasn’t. But as a knowledge hub? Pretty disappointing.
I keep thinking how the hell Crypto is going to be the dominant currency when you have to fucking LEARN how to GET it, how to access it, how to use it. I still have people telling me paper money will be extinct by 2030. I still wonder how. I'm still torn between cashing out at the next peak or holding for dear life.
You know something's fishy when ppl are trying to convince you to invest/buy the currency/stock…
I remember the first time I heard about crypto, the only thought I had was: This is entirely useless
It's less manipulative than the stocks, Elon didn't sell his stash, even if he did, don't senators do insider trading and get away with it by saying I didn't do it, my son/family/agency did it. Let's face it everything is manipulative and speculative in nature, but the government can't guarantee its leverage in speculation and manipulation here, that's why they want to regulate it, let the wealth be redistributed among the common people freely by these cryptos, but nope they want that wealth for themselves only. Truckers would have been pushed to poverty and starvation if it wasn't for Crypto with all their bank accounts frozen and gofundme trying to steal their rightful money….
Not much of a money when u can't use it without power.
That's what people said about credit cards, online banking, shares of stock, and leaving the gold standard.
Never say never.
Crypto is yesterday's news. Pogs are the future!
Ngl. KnowledgeHub been a hating ass nigga lately. Weird ass boy.
What is the cartoon in the background?
Well, visa and mastercard are going to be banned in Russia march 9, and ruble is all time low. I would prefer monero to this toilet paper.
We need a part 2 and 3 man
Another problem with crypto & NFTs, is the block chain. I know, its what makes them unique. But takes a lot of computing power. Not just to mine it, but to verify it. That computing power requirement is one one of its safeguards, yet it takes energy. If computing power increases they become less secure. There's a lot more BAD to go around !
Cool and all.
But the fact is the old world of currency, if it was a machine.
Is outdated, rusted, and leaks.
So you're telling me the tech that is overwhelmingly, almost exclusively used to scam people out of their money will never find the purpose it set out to have?
*shockedPickachuFace
Had an ad for crypto before watching this lol
Countries already run on cryptocurrency, just because one is unstable, doesn't mean all of them are. This video is an oversimplification of the real impact cryptocurrencies have.
Bullish 😎
I got an add about how crypto is good in the middle of the vid
You can use it. Through Visa and Apple Pay. In an exchange where you buy and sell bitcoin and others are connected to visa.
Elon Musk is living life like he is playing a Company Tycoon videogame in easy difficulty. the AI for everyone else is super dumb and easy to manipulate and he is manipulating them. to him all the other people and the earth we live in matters no more than a save file. plus, the cheat code that he used at the start "emeraldmine"
The problem with Cryptocurrency is that it is only backed by already existing money.
5:20 , 5:27 – Look at the chart before and after Elon Musk’s escapades. Btc when right along as usual as it soared to new highs. People who buy btc hoping to strike it rich are the ones susceptible to market games of the rich…
bitcoin is worth something because you just trade it with other morons who have it. If five 4 year olds swap round a bunch of brightly coloured rocks and then one day one of them came in with 2 dollars and buys the rocks off the other 3 then he may have more rocks but he is a moron. The amount of people who are brainwashed in to buying this nonsense is sad. Its like gambling. If you gamble in Vegas there is a chance that you will make money but realistically the house always wins. Eventually it's just an addiction
WHY do people think the US Dollar is “stable” when it loses value every single day without fail?
Oh well, I guess CONSTANTLY losing value IS stability after all!!
Money has NO intrinsic value whatsoever… Money REPRESENTS value!
2:28 – “You could argue that the dollar is a fractional representation of the total US GDP” – a fraction that is getting smaller and smaller every single day!
Well, you can stay on the Fiat Standard, in which some people get to produce unlimited new units of money for free, just not you. Your choice.
Crypto is only useful in countries where they are suffering from inflation by alot.
Thank you, my colleagues at work are crazy investing on it. This explain enough for me to not join them.
So much disinformation in a single video.
The silver is best currency you can use it everywhere in the world
Instead of bitcoin, everyone that has a savings account or loan with a bank should form a massive financial economic cooperative that consolidates all financial holdings for collective interests. "If you owe the bank a million dollars, the bank owns you. If you owe the bank a billion dollars, you own the bank."
Even the horoscopes is more stable than crypto holy shit
thanks for bursting the bubbles of delusional people thinking internet is everything
Fitting that the mid roll was for a five lesson crash course on nfts
well obviously
I love how a bunch of tech bros convinced a bunch of idiots that government backed means bad, so instead they are going around and saying, yeah let's make criminal transactions real easy, here have my money.
It's a young player in the world economy and needs to mature. But when it does…
Inflation is taking place with the united states dollar. A lot of cryptos fluctuate but things like shib have a limited amount and not only have an auto burn function but a burn wallet for people to put extra shib in naturally making it deflationary… Sounds like the future to me when our government keeps minting and printing like its a york peppermint patty stuck in a fax machine.
I had a crypto ad pop up when I clicked this video lmfao!!
I invested a weeks worth of money in crypto and now I have life changing wealth… sooooo yea it seems to me like you don't have a clue what you are talking about. Ignorance is bliss I guess.
Crypto will be more likely be a digital asset (like NFTs or electronic precious metals [gold/silver]), but it also has epic potential as a secondary currency (superior to banks / etc., yet it won't replace fiat). All value is intrinsic (when applicable) plus speculative / trust / perception. Also Blockchain itself is excellent for various other uses, just like NFT ideology could have neat future applications.
Wow! Incredibly ill-informed.