Yanis Varoufakis Trashes Bitcoin; Lauds Blockchain

GreekReporter.com -
Watch Greece's former finance minister and leader of the DiEM25 pan-European political movement talk about the rise of cryptocurrencies, Bitcoin and blockchain. Interview by Alex Mizan. Full story: bit.ly/3A0RXsV
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[@tetrixdog]

Perfect. Just the confirmation I needed to go all in on Bitcoin.

[@joeybourke07]

Yanis siding with Warren Buffet is something that Yanis will regret

[@yunusemresahin6430]

Love you Yanis! You are amazing, always a pleasure to tune in with you.

[@AbdulHamid-gp3ps]

Hacı bir sakin ol ya

[@StephenSchleis]

Where is the entire interview?

[@hippiekrakh6407]

Got a few questions: Thought bitcoin was an asset and, as far as I know, some US States are already accepting BTC as tax payment, El salvador and some other country have it as a legal tender, does this make it a currency then? CBDCs are already coming and look way more dystopian that they seem, how would they be more democratic when people's accounts will be controlled by governments? So, first people adopting btc own much more than anyone could have now and that not being democratic, it can be solved with CBDCs? Are CBDCs going to take everybody's money and distribute it evenly to every single person in the world?

[@Skerpful]

Excellent perspective, very few people are saying these obvious "glitches" with bitcoin! I have always wondered about these shortcomings.

[@sinysagna2593]

just because Yanis says these are glitches, it doesnt make them so.

[@buickadelaide1283]

A wise man. Prof. Yanis is.

[@sinysagna2593]

charismatic yes. wise, highly debatable.

[@RawandCookedVegan]

Won't CBD's be a way for government to be far to intimately aware of each individual's spending? I don't know that that will necessarily be democratic.

[@KoreaMojo]

The state will always find it's way into involvement. The premise is the state exists to uphold and protect asset movement. I think that's the point he was getting at somewhat. Also how is a finite amount of currency currently in a small number of people's hands democratic? It's plutocratic but so is the current global economy.

[@morteza1024]

Being aware is half the problem. They will control how you spend your money.

[@raphi72]

When Bitcoin started on 3.1.2009 only one person had all (50) Bitcoin. Today there are hundreds of million people owning bitcoin. It seems that bitcoin ownership is spreading not contracting.

[@sakariaskoivisto1471]

With regards to what was said at the end: "she would lose her job tomorrow morning If she said those words", it would be interesting to know who would fire her, and where the message would come from originally.

[@elmachico37]

What people wants is financial freedom. So, the best is to have all of them available, everyone should choose for their own. Fiat, Bitcoin, CBDC all of them, the governments must allow them to coexist. Each one have its advantages and disadvantages, any of these will ever be perfect, it will depend on the user usage, the most appropriate one for each individual. My point of view is that CBDCs have the most disadvantages, as they will kill 100% people's privacy, will be surveilled 24/7 and will also affect the poorest that lives on cash fiat for daily transactions especially in poorest countries. So, of course CBDCs will be implemented, but if you aim for financial freedom and to respect people rights, CBDC is the worst. Anyway, each nation should allow everyone to transact/invest/save in their preferred method.

[@romankacin8365]

So, he’s beef against bitcoin as a currency is you can’t create more out of thin air like you can with fiat. Going to buy more bitcoin now.

[@mpsv8426]

Mr. Spock how can you side with Warren Buffet?? he was against Amazon too and look what happen.

[@21M..AgeOfTruth]

There are two options for humanity...... a) #Bitcoin A world likened to Star Trek 🌎☮🚀🌙🙏 VS b) CBDC's A world likened to Star Wars 🌍⚠️⛓🔐 ~ Inspired by #JeffBooth

[@amiralikoohpayi1046]

Yeah it’s fixed Supply but what will happens if Bitcon value rise ?? So you dont need suppy the money every Bitcon in your wallet are more valuable

[@donjuan3296]

This didin't age well. Look at our current state, after increasing the money supply. Biggest economic crysis since 1929.

[@gamatoutsikos]

After the biggest pandemic....

[@jasonf4626]

Good balanced perspective. A question to Yanis would be 'Well, ok, if we 'require' QE from times of distress then why do governments ever need to in engage excess monetary stimulus in the first place?' It's a complex answer, but if a scarce deflation currency is the standard, one could imply that this will ultimately rebalance economies as to NOT REQUIRE excess printing in times of distress in the first place. The process to the new normal may be hard, perhaps a decades (even centuries) long shift, but one worth consideration. I still like Yanis alot, but El Salvador is already using this as legal tender.

[@jasonf4626]

@Wealthy and Nerdy “hardly” concedes to the rationale. If I “hardly” won, I still won. Levels of degrees of scale don’t negate the point in this instance.

[@Methuselah969V]

Definately is not trashimg bitcoin seems pro bitcoin to me

[@joeharvie8362]

But cbdc's are not based on the block chain. Only bitcoin is additional is working. Keep doing your homework. Talk to Micheal Saylor.

[@markosvagionakis4697]

bitcoin can be "state money" when governments embrace it, something that has already happened in parts of the world, like switzerland where you can pay taxes with btc

[@JanPBtest]

Yannis, please study this subject a bit more. The problems with Bitcoin you mention mostly arise from you misunderstanding something. I am also a mathematician so bear with me as well 🙂 (1) Bitcoin is not money, it's property. So your entire argument against Bitcoin as currency is moot or missing the point. Everyone knows that. Again, I recommend more study of Bitcoin (and I don't mean reading the code).

[@papi5377]

To zniknie z powierzchni ziemi.

[@sanchi999]

LOL he doesnt understand Bitcoin. This won't age well.

[@OlympischbriesjeNadaAverage]

A wise man, must hurt if you're so wise and wrong.

[@georgek.5817]

Βαρουφάκη δεν έχεις the slightest ιδέα of what bitcoin is, how it works, and ultimately ανησυχώ ότι δεν ξέρεις what money is and WHO defines WHAT money is, stored value, unit of exchange…. Άστα nation-state, αλλού αυτά, minimally regulated ‘free’ market is the goal here

[@gamatoutsikos]

After thousands lost millions and billions with ftx, I see your point about "minimally regulated is the goal here" 😞

[@heracles89]

Greece and Cyprus need to fast track their commitment to Blockchain - it will be huge and huge scope for the economy! No one sees Bitcoin as money, stablecoins or central bank digital currencies will be money imo - the Ethereum blockchain will likely be the base layer for these currencies

[@sinysagna2593]

El Salvador sees bitcoin as money. others will do too overtime.

[@heracles89]

@@sinysagna2593 digital gold IMO

[@sinysagna2593]

@@heracles89 we have currency because physical gold is inconvenient due to it being physical. with bitcoin, there is no use for other currencies.

[@heracles89]

@@thetruth9210 fair point - but blockchain is still obviously a huge economic opportunity

[@erniegutierrez410]

@@sinysagna2593 it's a disaster. No investor wants to get that country's 1 billion bitcoins. They're heading into a $800 billion deficit and default likely soon

[@savaskiller]

varufaaaa dyor ! CBD's are on the way ! hahahahahah

[@aegeanstar4683]

Dollars r not state money either

[@peznino1]

Yanis, will you stop talking sense. You will prick the speculative bubble before I can get out of this ponzi scheme called Bitcoin. Thanks in advance.

[@jerrylion45]

Bitcoin

[@mariajosefalopez585]

Despite the economic downturn $60.000 just in two weeks Anna you are so amazing

[@mikailumuhameed2738]

Same here I started with$12,000 now earning &58,300 weekly profit with her trading program

[@kerleytonie4356]

I have heard a lot about investment with Anna how good she is and how she has helped people.please how safe are the profit

[@user-md6lm5ju3c]

How can I reach this Expert being mentioned here?

[@agustincarrasco8731]

I believe because I made upto $230,000 with an expert broker, crypto trading is very profitable

[@jorgfried2513]

13. 24.6 BTC and still counting in just 2 month expert Mrs Anna is the trade queen as far I'm concerned this woman has really change the life of many people from different countries and I'm a testimony of her trading platform

[@nanoaged1]

WRONG!!!

[@alexSkamn274]

1btc = 1btc always! unlike dollars , euros and all of these piece of papers.

[@OghamTheBold]

BTC (Bottom Tissues & Congo Collapse Cranium Chopping Cannibalism)

[@massinakmin8340]

@@erikanderson8186 very good argument.

[@andreadisgr6131]

Πες τα αυτά στους ανθρώπους στο Ελ Σαλβατόρ.

[@vasilykatuma5689]

"sir" HMS YANISary Barouf does the 3 2 to bitcoin, as usually does... muhewhehehe

[@GMastrokostas]

So this guy is for inflation. Got it. ROFL...

[@gamatoutsikos]

Not exactly. But inflation can be necessary sometimes to avoid a big recession

[@GMastrokostas]

@@gamatoutsikos Welp in 2023 at leatest early 2024....a big recession is coming because of inflation.

[@Eldred32]

Mister Varoufakis , BTC is not supposed to be a currency..... it's called "cryptocurrency" only in name. It's limited supply and the way it functions it's meant to be an ASSET ... not money. Think of it as a piece of land or a house... it's meant to be the thing u put your savings in not some coin to be traded daily. Please educate yourself further about the various cryptocurrencies and their use cases not every single crypto is the same and they all have different uses.

[@alibitter6361]

You'd be suprised how many people see the assets value as a future currency. There are a few in this comment section already.

[@oddrington]

Maybe he read the Bitcoin white paper? “Bitcoin: A Peer-to-Peer Electronic Cash System”

[@marceloperez7350]

Well you could say it is called ASSET only in name…

[@sinysagna2593]

"no democratic method of deciding who gets bitcoin"? lol. Yanis, there's something called the free market to decide this. no, you cannot just democratically decide to expropriate others' wealth. this is the raison d'etre of Bitcoin

[@RawandCookedVegan]

Generally I agree with you but I am concerned on Yanis' point. Who is buying BTC right now? People that have the money to. Are single moms who work at McDonald's buying BTC? This could be problematic later on. I hope you and other BTC enthusiasts are right and a new BTC system will make it impossible to reduce monetary value, but how can we make sure everyone has enough?

[@sinysagna2593]

@@RawandCookedVegan well you have to work for btc - thats the beauty of it. you earn what you deserve, and you can sleep safe in the knowledge that no-one can debase the value that you have earned. early adopters managed to buy it cheap, but thats their reward to taking on early risk. single moms who work at mcds can buy some btc now, or hopefully, in the future earn btc directly.

[@CageiLove]

"If you don’t believe or don’t get it, I don’t have time to try to convince you, sorry." Satoshi Nakamoto

[@ArashRezaee]

any cult with no real argument would say that

[@sinysagna2593]

@@ArashRezaee its basically what your boy klaus schwab has been telling you.

[@ArashRezaee]

@@thetruth9210 don't trust FED, run away from these cultists also.

[@ArashRezaee]

@@thetruth9210 assets, shares, stocks, jobs, proper investments.

[@tw106]

Yanis is a “socialist”? That’s all I need to know…

[@sinysagna2593]

"money is always going to be political" - errr, no.

[@furyofbongos]

Too much effort to strain thru the accent.

[@dnb9460]

El Salvadors adoption of bitcoin basically eliminates every single argument Varoufakis made

[@pierre-yvesmachavoine4983]

To this day they bought the top, we'll see in the future