I Read Everything About Sam Bankman-Fried So You Don't Have To | The Class Room Ft.

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More Perfect Union

More Perfect Union

Күн бұрын

Sam Bankman-Fried's massive FTX fraud cost customers billions of dollars that are still missing. But the crypto industry wants you to think SBF was just a bad apple. And some lawmakers believe new regulations could make crypto safe. Here's why they're wrong.
The latest from More Perfect Union's series The Class Room, featuring ‪@munecat‬
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More Perfect Union is a new nonprofit media org with a mission to empower working people. Learn more here: perfectunion.us/
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Пікірлер: 714
@Will-kt5jk
@Will-kt5jk Жыл бұрын
Weird seeing Münecat without the jokes, skits, rants & music, but good summary & presentation all the same.
@Snardbafulator
@Snardbafulator Жыл бұрын
And beer ; )
@theblazingpearl1067
@theblazingpearl1067 Жыл бұрын
I wouldn't say he outright killed it, but he did inflict quite the wound and that the industry is bleeding out and trying to cover it up.
@ericrowe2533
@ericrowe2533 Жыл бұрын
The best part about "Fortune Favors the Bold" is that one of the original people to say it (Pliny the Elder) was talking about sailing to Mount Vesuvius to investigate the active volcano eruption, where he immediately died
@brucewallagainsttheodds1740
@brucewallagainsttheodds1740 4 ай бұрын
😂😂 dang, didn’t even know this. I have to spread the word
@marcamorello2803
@marcamorello2803 Жыл бұрын
Love munecat and love you guys. The collabs are always great on this channel.
@jcon2060
@jcon2060 Жыл бұрын
just watch coffee instead??
@DavidRichardson153
@DavidRichardson153 Жыл бұрын
If cryptobros are out-lobbying defense contractors, then crypto cannot be anything even remotely good.
@werbnaright5012
@werbnaright5012 Жыл бұрын
A place to hide money easily.
@Praisethesunson
@Praisethesunson Жыл бұрын
The CIA has their own crypto. Crypto is a tool for evil.
@ianshaver8954
@ianshaver8954 Жыл бұрын
At least the defense industry produces better and more effective ways to kill people. Crypto doesn’t produce anything except fraud.
@Praisethesunson
@Praisethesunson Жыл бұрын
@@ianshaver8954 Hey now that's not true. Crypto also produces a ton of extra E waste and a bunch of carbon emissions.
@craffte
@craffte Жыл бұрын
This was its purpose, sort of peer to peer as to not be under the thumb of the same old banks. And greasy mfs like BF only give it momentum. They have to protect him. Until another tool is created. And on and on and on. So perfect because the carcasses in gov't can't even describe what crypto is.
@blooptastic
@blooptastic Жыл бұрын
Wait, you're telling me the tokens some college kid is "printing" in their mom's basement aren't real money, and actually totally worthless? I'm shocked. Shocked, I tell you!
@Praisethesunson
@Praisethesunson Жыл бұрын
Next you'll tell me industry lobbying against regulations has direct negative consequences on real people. Hi from Ohio.
@WilliamBrowning
@WilliamBrowning Жыл бұрын
bloop, Praise, y'all seem like savvy people and I have an investment opportunity for you. You know how fine art is super valuable well I'm selling digital art. HMU if you want to become a billionaire with little to no up front cost and in as little as a half hour. [not financial advice. Results may vary wildy.]
@TheModdedwarfare3
@TheModdedwarfare3 Жыл бұрын
@@Praisethesunson Nothing bad ever happens to the Ohioans!
@Praisethesunson
@Praisethesunson Жыл бұрын
@@crazycomments2082 the fiat currency I use is backed by the world's largest military power. Sam BankRun Frauds fiat was backed by a few dozen Adderall popping millennials.
@crazycomments2082
@crazycomments2082 Жыл бұрын
@@Praisethesunson Neither one is actually backed by something of value (Eg. Gold or Cacao beans). Bartering actually focused on value. The USD has inflation involved. Just like how coins are just blockchain tokens, USD is essentially paper only backed by tons of agencies saying "TRUST US", a military that prides on being the strongest even though it was a long time since we actually won a war, and a country that had the best credit score(I think we got lower), a debt ceiling that is approaching, etc. One advice on both USD and Crypto: Keep both on local wallets. Get ready for both to be ruined.
@AllThingsFilm1
@AllThingsFilm1 Жыл бұрын
Crypto is as stable and trustworthy as the edge of an active volcano.
@burner9147
@burner9147 Жыл бұрын
My best friend put is entire inheritance in to bitcoin £90k😕
@dedetudor.
@dedetudor. Жыл бұрын
There ya go!!!! 🌋🤖
@theultimatereductionist7592
@theultimatereductionist7592 Жыл бұрын
@@burner9147 I put my entire inheritance into the edges of active volcanos. :(
@TheModdedwarfare3
@TheModdedwarfare3 Жыл бұрын
@@theultimatereductionist7592 I put my active volcano collection next to my credit union. 🤦‍♂️
@ratulxy
@ratulxy Жыл бұрын
Sorry, active volcano is more trustworthy.
@MyReviews_karkan
@MyReviews_karkan Жыл бұрын
Man, campaign "donations" need to go. Straight-up bribes. Btw, I've lost a staggering $35 in this whole fiasco. I knew it was all BS 😂
@teuast
@teuast Жыл бұрын
i made a bit of money getting in on doge early and then getting out before it imploded. which puts me well ahead of most cryptobros
@madeliner1682
@madeliner1682 Жыл бұрын
Such a shame that the way out system is set up means that in order to make roundabout bribery illegal it'd have to be approved by the people who directly profit off it
@KennywasFez
@KennywasFez Жыл бұрын
Munecat crushed this as a communicator, like recognisable enough from her normal channel/content but not the same. I’m genuinely impressed ! Cheers !
@CrazieJester
@CrazieJester Жыл бұрын
Crypto was already a scam and a joke, SBF just exposed that to a wider audience
@Praisethesunson
@Praisethesunson Жыл бұрын
Lol yep. No crypto Superbowl commercials this year
@nickjohnson3619
@nickjohnson3619 Жыл бұрын
Unfortunately he also showed how much opportunity there is for someone whose good at math and has no scruples
@geroffmilan3328
@geroffmilan3328 Жыл бұрын
It's a little bit like the OG gold rush: people in at the inception might have made a lot of money, but pretty soon the only ones making money are those selling shovels
@maggiepie8810
@maggiepie8810 Жыл бұрын
Not necessarily a scam or joke, but it's not something you should be getting into with money that can't stand that amount of risk, such as pension savings. It's about as bad of an idea as taking your pension savings to Vegas and hoping for the best. SBF bribed otherwise sensible financial advisors into recommending his company and then lied more than Boris Johnson.
@alext3811
@alext3811 Жыл бұрын
SBF: Scam, Bankrupt, Fraud (Credit: LegalEagle)
@thechief043
@thechief043 Жыл бұрын
Heck yeah, more Munecat. More Perfect Union back at it with the solid material.
@colonelweird
@colonelweird Жыл бұрын
You had Munecat, but you didn't get her to sing a silly song?? Wow dude, missed opportunity.
@MattSaysHello
@MattSaysHello Жыл бұрын
Munecat! Happy days.
@James9000
@James9000 Жыл бұрын
It was always a scam I thought nfts were the start of the death spiral.
@burner9147
@burner9147 Жыл бұрын
Lol I clicked on more perfect union and I got Munecat I love Munecat so what a pleasant surprise.
@PierroCh5
@PierroCh5 Жыл бұрын
So cool to see Müne working with/for other creators ❤️
@Aldrasio
@Aldrasio Жыл бұрын
I can't believe them raising exactly 420,690k from 69 investors didn't raise any eyebrows
@NoJusticeMTG
@NoJusticeMTG Жыл бұрын
More munecat collabs pls
@TheJohnnyCalifornia
@TheJohnnyCalifornia Жыл бұрын
Honestly, despite all the tech jargon around FTX, this really sounds more like the sort of financial scheme that blew up in investors faces back in Victorian times rather than something for a modern high tech financial system.
@gregorykrajeski6255
@gregorykrajeski6255 Жыл бұрын
My thoughts exactly. This is just boring run of the mill financial fraud that has been going on ever since money was created.
@kalreynolds5829
@kalreynolds5829 Жыл бұрын
That's all it ever has been. Crypto relies on general tech illiteracy, so they can sell you the same tired arguments about how it's the future, how it's going to be currency, how it's a breakthrough. It's none of those things. It's just an extremely volatile investment product. That means you can make money very quick, or lose money very quick. It's based on an almost useless technology more than a decade old that hasn't found a use case, because a trustless ledger just really isn't that useful, and is an enormously inefficient way of doing nearly any task you'd use it for, the only advantage is the "trustless" part, which people don't understand, it's just a decentralised way of creating an account of transactions through a consensus process instead of centralisation.... but because that's actually not desirable, none of the commonly traded coins actually are decentralised, as can be shown by their forks. It has zero protection against fraud without removing decentralisation, and "trustless" means that every transaction is publicly viewable forever. It will never be a currency, for the same reason you can't buy a car with shares-the value fluctuates too much for that. It's like the money of a country experiencing hyperinflation, from hour to hour day to day that money has very different values. They'll keep comparing it to social media, but in under a decade MySpace peaked in users, and went out of business, and Facebook became the huge thing it is, Twitter became what it is, all of these things very quickly, because Web 2.0 and the Internet to begin with were obvious technological developments with immediate business and personal uses. Email was a gamechanger in the time of couriers, mail and phones. Social media was obviously useful. Whereas "Web 3" proponents can't decide whether Web 3 is VR, whether it needs a blockchain, or whether it's creating second life knockoffs and selling land in them for bitcoin (embarrassing). The reason they have to spend all this money on advertising is simple, they need more people in the ecosystem, buying in, so that they can actually cash out sometimes. They need to convince you it's going to blow up big because it's a big future tech, so that you'll invest a lot. If people want to buy in, that's fine, but they should think of it as gambling because that's all it is. You might win big, you might lose it all, make sure to limit your losses. Those chips aren't worth anything outside of the casino. You can't pay with your arcade tickets outside of the arcade.
@danielmennel4565
@danielmennel4565 Жыл бұрын
It's not a new scam. It's just digital.
@chrisgenovese8188
@chrisgenovese8188 Жыл бұрын
crypto is to the financial institution what a porcupine is to a condom factory.
@Galanthos
@Galanthos Жыл бұрын
So, Crypto is an unexpected pest that cannot do any real harm to the business being done but man, isn't it just too cute of a little creature to kill? Look at it! It's making noises like it owns the place even though it has absolutely zero mental capacity to understand what is going on here at all!
@chrisgenovese8188
@chrisgenovese8188 Жыл бұрын
@@Galanthos uh. more like a wild animal that had been released into an environment it doesn't belong, poking holes in things that ends up costing people unexpected debt for years to come.
@Galanthos
@Galanthos Жыл бұрын
@@chrisgenovese8188 Oooooooooh! That is a much better explanation. I am so used to seeing weird defenses of Crypto that I thought you were arguing that the Porcupine would shut down the factory. Sorry! I think we're on the same page now.
@Ryan-wx1bi
@Ryan-wx1bi Жыл бұрын
Is that why financial institutions are adopting it's technology?? If you don't believe me, look into what's replacing SWIFT. If you don't know what SWIFT Is I wouldn't be talking about knowledge on financial institutions
@chrisgenovese8188
@chrisgenovese8188 Жыл бұрын
@@Ryan-wx1bi yeah, and then crypto will fail, and all the banks that invested heavily in it will be bailed out by tax payer dollars. you were probably shitting in diapers in 2008, but i remember.
@DJBremen
@DJBremen Жыл бұрын
9:51 Ive never once heard anyone explain in detail exactly what SBF did to gain his initial millions and everytime its mentioned its glossed over just like this. I've always found his initial rise to prominence story really suspect.
Жыл бұрын
that’s because it’s genuinely a mystery how he did it. from what i could find, it’s possible he used one of his connections gained from the effective altruism movement who was a Japanese citizen to do some shady deals there to get the money out of the country. but nothing concrete
@dunmatta2670
@dunmatta2670 Жыл бұрын
My understanding is he did a lot of crypto exchanges in the US and sold at a higher price in the Japanese market. Arbitrage if you will.
@creatrixZBD
@creatrixZBD Жыл бұрын
He was one of the first to notice that there was a differential in different markets, and that you could sell cryto from one country to a different exchange with a different rate, and pocket the profit. AFAIK, He was kinda quiet about it for a time. Then he started Alameda etc… I don’t know if that was necessarily his seed money, but it gave him a head start. (And lots of stupid ideas)
@roguegargoyle914
@roguegargoyle914 Жыл бұрын
His parents are wealthy and more than likely implicit.
@creatrixZBD
@creatrixZBD Жыл бұрын
@@roguegargoyle914 complicit, but yes agree
@awijntje14
@awijntje14 Жыл бұрын
Love mùnecat and how she breaks down complex topics and pulls back the curtains on so many scamfluencers...(not just crypto but also investment experts etc), keep up the good work.. Also I've always been cryptocurious but only for the technology part (distributed databases are so cool!?)..
@seeyouinhell4evr
@seeyouinhell4evr Жыл бұрын
Blockchain is dumb, that's why no one uses it for anything except cryptocurrency scams. Some libertarian had a wet dream and forgot that energy costs money.
@tethergobrrr
@tethergobrrr Жыл бұрын
If existing laws against Ponzi schemes were enforced to eliminate speculative cryptocurrencies them blockchain technology would become more attractive. Until then, not worth the downside.
@steakrappedinbacon
@steakrappedinbacon Жыл бұрын
Killer collab, I love münecat!
@makhina8839
@makhina8839 Жыл бұрын
The crossover I didn’t know I need so much in my life
@TheMinimumPC
@TheMinimumPC Жыл бұрын
I love how every other video on this channel is 2-7 mins long and here comes münecat with a 20 minute banger… 🤣🤣
@b1g_m00n
@b1g_m00n Жыл бұрын
oh so she's been hiding here this whole time. I been wondering where she went lol
@2Links
@2Links Жыл бұрын
considering the frequency of her previous uploads I didn't consider anything to be unusual
@jazzx251
@jazzx251 Жыл бұрын
she's been recently doing livestreams on Twitch and posting hilarious highlights on her KZbin Moar Munecat channel every week - here's the latest one from about a day ago, featuring her taking on some AI bots: kzbin.info/www/bejne/nIuUo5R6dpmAea8
@NS-cs3wp
@NS-cs3wp Жыл бұрын
Having followed this story from day 1, the "Somehow" SBF exploited to gain access to markets in Japan was his parents' political and financial connections and his personal connections to Japanese citizens who were willing to work with him to bridge the gap. Literally there were just legal and regulatory hurdles that needed time, patience, and access to people to be overcome and SBF got there first.
@realshehrkhan
@realshehrkhan Жыл бұрын
Great to see munecat back with another colab... R I P Crypto! Beanie Babies Forever😊
@stoiccynic5152
@stoiccynic5152 Жыл бұрын
Munecat colab??? FUCK YEAH!! Go watch all her stuff. It's great!!! More humor added :).
@VictoriousGardenosaurus
@VictoriousGardenosaurus Жыл бұрын
Cryptobros don't get a pass because SBF outbro'd them
@TheDarthbinky
@TheDarthbinky Жыл бұрын
Totally irrelevant side note, the music that plays around 17-18 min into this reminds me of Super Mario Land on gameboy like 30 years ago.
@PhatPazzo
@PhatPazzo Жыл бұрын
Crypto was great if you were a scammer. Note that scammers may have too face consequences, it’s strongest use case has been lost.
@jermainewalls5613
@jermainewalls5613 Жыл бұрын
The munecat content I crave!
@Ara-wo5ho
@Ara-wo5ho Жыл бұрын
Well to answer the question at the end; I think we should abolish the private ownership over the means of production.
@diskgrinder
@diskgrinder Жыл бұрын
I give that top marx
@fuad000100
@fuad000100 Жыл бұрын
Yes please!
@AnnauraK
@AnnauraK Жыл бұрын
It's so surreal to see Munecat and not feel like she's in the middle of an alcohol-induced psychotic break
@rory1336
@rory1336 Жыл бұрын
Imagine making 20 million on a coin, revealing it's a scam, then instead of running away with the money then, making your own scam coin and trying to make more money.
@alexandrerichard6057
@alexandrerichard6057 Жыл бұрын
Speculators and ordinary users of a currency are mutually exclusive in their intents. The former requires a lot of wild price swings, enabling savvy people to buy the dip and sell the high, the later wants his everyday transactions to be stable and predictable. Ergo, investing in crypto in the hopes that the speculators will be outnumbered by regular users is self defeating and ludicrous. The worst 'fake-it-t'ill-you-make-it' crowd swarmed unto crypto like starving flies on a taco bell shit because they saw this from the start (the smart ones at least). Now, the phony speculators greet investors at the door. Only a matter of time before it all falls down.
@keepmoving1185
@keepmoving1185 Жыл бұрын
Glad I missed out on crypto
@lohphat
@lohphat Жыл бұрын
No, he didn't. Crypto has no economic metric to drive its value -- it's PURE speculation setting the price.
@jonfr
@jonfr Жыл бұрын
Based on history of monetary crises (medieval Europe, before central banks were a thing. They also had like thousands of currencies in those times). The next crash in crypto is going to happen soon and is going to be big.
@cryptoenthusiast4999
@cryptoenthusiast4999 Жыл бұрын
And you know this how?
@tethergobrrr
@tethergobrrr Жыл бұрын
Total market it already halfway to zero from the top. Hoping a brutal SBF trial will keep things going in the right direction. Regulators could end the whole shitshow right now using current laws.
@ifeawosika966
@ifeawosika966 Жыл бұрын
Same guys who will be crying at the next pump
@FueledbyJohn
@FueledbyJohn Жыл бұрын
Hey, Munecat :) I've never been interested in Crypto rather the opposite more concerned about the harm it was causing I never knew I wanted a framed cat picture for my wall, but here we are.
@Dysiode
@Dysiode Жыл бұрын
Well this was an incredible explainer!
@omegahaxors9-11
@omegahaxors9-11 Жыл бұрын
Tries to get crypto to be ruled as a commodity even though it's obviously a security, and ends up getting slammed for both.
@scarftv7983
@scarftv7983 Жыл бұрын
BTC is clearly a commodity.
@jsrodman
@jsrodman Жыл бұрын
You know that commodity refers, typically, to THINGS. Stuff with intrinsic value, like food, or minerals. Not something like money, stocks, or bonds. There is nothing "clearly" about asserting it being a commodity.
@scarftv7983
@scarftv7983 Жыл бұрын
@@jsrodman A lot of things that had been done typically turned out to be wrong, so that part of your argument is invalid. Intrinsic value argument is better. Thing is, even the value of mineral is not intrinsic, it's the matter of what it can be used for and how valuable it can be at the time. BTC offers us neutral money, no middle-man, no central big daddy to take it away, you are in full control of your own funds from anywhere in the world, it's scarce and has consistent monetary policy. What else offers you all that? Nothing.
@jsrodman
@jsrodman Жыл бұрын
@@scarftv7983 Your empty talking points would apply to all securities. Since you add a bunch of other false claims, we can discuss them. Bitcoin is not a workable money because the transation frictions are far too high. Bitcoin has middle men and big daddies, see all the ongoing centralization of exchanges, see the already accomplished intentional reality forks. Bitcoin lacks full control - see all the people who hvae had their funds removed from them outside their control via various methods that are unsolved. Scarcity is fundamentally incompatable with a medium of exchange. Nothing else (except every other of thousands of crypto coins) offers this because it's terrible.
@scarftv7983
@scarftv7983 Жыл бұрын
​@@jsrodman Oh, and your hateful farts are rock solid, aren't they? Bitcoin is workable money, the transaction fees problem is more or less fixed with the Lightening Network. Bitcoin doesn't have middle man - you still can buy it anywhere from anyone and even run your own node for further decentralization. Crypto exchanges are a total antithesis to BTC philosophy - it's essentially central banking. Also, I don't know of a single person WHO HOLDS THEIR BTC IN SELF-CUSTODY AND NEVER EXPOSED THEIR PRIVATE KEYS AS THEY'VE BEEN REPEATEDLY TOLD TO that would have their funds removed, and you know why? Well, mostly because it's impossible. Prove me wrong. Scarcity is necessary for fighting inflation, and there's no reason for it to be "fundamentally incompatible with a medium of exchange". Also, no, no other crypto offers that (apart from Monero probably), because 99% of them are pre-mined, pre-sold, and controlled by a small group of well-known individuals.
@ConcerninglyWiseAlligator
@ConcerninglyWiseAlligator Жыл бұрын
I certainly hope so.
@Kaileighblue
@Kaileighblue Жыл бұрын
How many of the "regular" people grifted by these people have already moved onto another?
@BoydGilbreath
@BoydGilbreath Жыл бұрын
Crypto is so obviously a scam. It's "absolutely foolproof" they said. It is "impossible" for anyone to scam on crypto. It's "block-chain technology". The short explanation for that makes no sense at all. The one question was always, "I paid money and got "_____coins" Where is my money now? I never heard an explanation for that.
@TCKRDefense
@TCKRDefense Жыл бұрын
you are so damn wrong. And what is the alternative to Cryptocurrency?
@scarftv7983
@scarftv7983 Жыл бұрын
It's impossible to scam with BTC (although it can be attacked, but it takes a lot). Also, when you use your credit card to pay - where do your money go? Do you know the answer to that?
@lookinforanick
@lookinforanick Жыл бұрын
I don't know how I feel about a video featuring Munecat where she does not concoct and sing a banger at the end.
@cosmogoblin
@cosmogoblin Жыл бұрын
"He's just Enron for crypto... But in reality, his fraud is emblematic of the shaky foundations of the entire industry." So, he *IS* Enron for crypto.
@kiskakuznetsova503
@kiskakuznetsova503 Жыл бұрын
SBF was such a poor actor, too. His whole act was cringey! "What? Me? A bad guy? How? I'm just a slobby physics graduate who can't brush his own hair! I fidget! I can't be bothered to wear shoes! I'm just a boy!"
@AMortifyingOrdeal
@AMortifyingOrdeal Жыл бұрын
For most of this I thought you were calling him SPF (not SBF) and I was like "Wow. I know he's really white, but that's kinda mean."
@kimberH1005
@kimberH1005 Жыл бұрын
Crypto investors should have just went to a casino with their money. I'm still waiting for Matt Damon, Larry David and Steph Curry to post public apologies for promoting this crap. As for Elon Musk it is par for the course for that ass.
@djack915
@djack915 Жыл бұрын
FORGET the rabbit , with George Santos , this guy and all others . This must be the year of the LIAR
@tolkienfan1972
@tolkienfan1972 Жыл бұрын
At the beginning you say that SBF was using the lack of regulations to commit his schemes. Then at the end you say we should just enforce the laws we have. And SBF is indeed being prosecuted. This is a contradiction. You wouldn't be trying to paint the crypto world as an unregilated cesspool because of some bias, now, would you?
@Huntanor
@Huntanor Жыл бұрын
People chasing money only always chase money. Every other concept or ideology they tout is just something they believe will get it for them. Everyone in charge of crypto still counts and exchanges using US dollars. Not because it's not ready, but because they know the difference between real value and imagined value. They just hope you don't.
@Ryan-wx1bi
@Ryan-wx1bi Жыл бұрын
Saying SBF killed crypto is like saying Madoff killed the stock market.
@clownfromclowntown
@clownfromclowntown Жыл бұрын
Just as some feedback from an autistic viewer, the background music is pretty overstimulating and might make the video hard to listen to for autistic viewers :/ I love munecat and I really want to hear the story, but a lot of the clicky tapping in the background of the video is causing a lot of sensory stimulation and I can't really focus on what she's saying. Again, not at all hate on the subject or the video, I just wanted to bring this up so you were aware of it :)
@Nathankinamorh
@Nathankinamorh Жыл бұрын
Y'all getting some great hosts for your videos. Keep it up!
@Czechbound
@Czechbound Жыл бұрын
*ERROR* The editor was accidentally put annoying and distracting music over this video. Who does that ? Perhaps the editor felt that the content was sub standard and needed to be juiced up.
@passinthru4328
@passinthru4328 Жыл бұрын
"Socialize risk and privatize profit" . . . that seems to be a concise description of many current entrepreneurial strategies.
@SkycometAnimeVamp
@SkycometAnimeVamp Жыл бұрын
I always suspected crypto was a scam. It’s why I never invested in it. The number of people DESPERATELY hawking it on social media is a dead giveaway! If an investment actually makes money, why would you be so desperate to sell your coins that you post pathetic ads for your coins in every KZbin comment section? Almost like… you’re scr3w3d and trying to cut your losses? crypto always smelled fishy to me… like a dead fish… that’s been lying in the sun for a week
@muscularclassrepresentativ5663
@muscularclassrepresentativ5663 Жыл бұрын
Wait wtf I didn't realize it was a more perfect union video for a minute. That's dope they have good taste in creators
@schemage2210
@schemage2210 Жыл бұрын
Yes, crypto scams can be prosecuted under current law, but when the best most likely charge that sticks is wire fraud, it shows that law makers ARE BEHIND THE TIMES. Just because old law can convict scammers, doesn't mean it does the job adequately or efficiently.
@thgeremilrivera-thorsen9556
@thgeremilrivera-thorsen9556 Жыл бұрын
I don't know if I love Munecat or MPU more and now luckily I don't need to decide
@Dysiode
@Dysiode Жыл бұрын
"If there are actually any good players" take of the decade
@marcusaurelius49
@marcusaurelius49 Жыл бұрын
Crypto si a scam. Do yourself a favour and run away with whatever you have left.
@joestunnerboxing
@joestunnerboxing 8 ай бұрын
I have been trying to understand the whole concept of Crypto currency for years. I've asked various people who claim to understand it to explain it to me, and have watched endless videos (such as this one), in an attempt to fathom what it is. So far, all I've gathered is that it might be some kind of Ponzi Scheme, but whether that's accurate or not - or whether that's ALL it is - I honestly can't say. Anyway, I'm definitely avoiding it.
@zoocraft_official
@zoocraft_official 7 ай бұрын
It's all a ledger. You make a transaction, that is written in the ledger. Easy to change right? Just change what you just wrote down. Now, the second transaction is encrypted with the first entry. Now, to change the first entry you must also change the second first. Next a third transaction is written. The previous two are used as "salts" for the third message. As you add to the ledger, each requires the previous entries to encrypt it. Now that we have millions of transactions, it is nearly impossible to go back and change any record. Mining helps solve these complex mathematical problems to harden the encryption. So in the end you have a blockchain, which is that ledger, where any entry is encrypted by the previous entries to create an almost unchangeable thing. At least, if any part is modified, the whole thing becomes invalid and unreadable. This is why it is so secure. It's also very complex if you're not a mathematician. Don't even try to understand more than the high level I just regurgitated. The blockchain with its guarantee of consistency can then be used to create other applications that require ledgers. Think websites hosting poker games, or in-app purchases etc. Cryptocurrency is here to stay. Not because it will replace money, but because of its mathematical properties that make it useful in so many other applications.
@midnightwatchman1
@midnightwatchman1 Жыл бұрын
this is a good thing this happened to crypto. crypto was never meant to the investment instrument let all the get rich scams go their way
@LuriTV
@LuriTV 9 ай бұрын
Maybe we should hold every single crypto currency owner accountable for the environmental damage the massive electricity consumption caused :P
@LuriTV
@LuriTV 7 ай бұрын
@@zoocraft_official I don't own a car, but guess what: You already pay taxes for cars and gasoline
@edvin3956
@edvin3956 Жыл бұрын
To the müne!
@scottsherwood9665
@scottsherwood9665 7 ай бұрын
Great video. I love the dumb and dumber clips
@ericcarabetta1161
@ericcarabetta1161 Жыл бұрын
He ripped off, mostly, a bunch of greedy, wealthy, geezers, that had no clue what they were "investing" in, and libertarian crypto-bros. Honestly, not the worst thing in the world.
@TCKRDefense
@TCKRDefense Жыл бұрын
Why are people talking about crypto as an investment and not a currency?
@jd-ku3iw
@jd-ku3iw Жыл бұрын
Fake money, why not? The world needs suckers.
@k1r5ch16
@k1r5ch16 Жыл бұрын
im just happy that whole thing is gone and i can be the "i told you so" guy
@williambrasky3891
@williambrasky3891 Жыл бұрын
And I thought The Crocodile of Wall Street with her spreadsheet saved as “dirty money” was bad. Congrats to SBF for one-upping with his visionary group chat entitled Wire Fraud. Bravo. This street art stuff really is like super edgy.
@kaemincha
@kaemincha Жыл бұрын
love munecat, what a great presenter
@piccalillipit9211
@piccalillipit9211 Жыл бұрын
WOW - Moooooünecat branching out onto other channels
@lavsh1
@lavsh1 Жыл бұрын
change the camera it has a dead pixel made me think my monitor had broke
@jameslawrie3807
@jameslawrie3807 Жыл бұрын
The first rule of any con is to tell the dupe they're too smart to be conned.
@EltheMura
@EltheMura Жыл бұрын
munecat is my favourite living person
@imdoneplus
@imdoneplus Жыл бұрын
Münecat is the GOAT. The 🐐 I say!!!
@par3me
@par3me Жыл бұрын
Not too bad guys. Much better then anything I’ve seen on the channel. Even touched on political donations.
@jaguartony
@jaguartony Жыл бұрын
Lol this channel is great wtf yoi talking about?
@TheModdedwarfare3
@TheModdedwarfare3 Жыл бұрын
@@jaguartony it's pretty hit or miss. The information is often flawed and incomplete to better fit their narrative for people that don't really subscribe to a socialist viewpoint. It's a good entrance to socialist talking points, but not a good source for information.
@margonaut
@margonaut Жыл бұрын
Surprised to hear the teachers pension plan here invested in this 🤦🏼‍♀️
@detoxfidelity
@detoxfidelity Жыл бұрын
Great video! The lighting at around 7:49 is a bit distracting: either you need a less bright light or need to use powder on her forehead.
@raijin2950
@raijin2950 Жыл бұрын
Anime crossover of the year.
@stuartdollar9912
@stuartdollar9912 Жыл бұрын
In fairness, killing crypto was nothing more than an assisted suicide.
@shodanxx
@shodanxx Жыл бұрын
8:54 hey isn't that how the stock market works too ?
@mewnboy
@mewnboy Жыл бұрын
Yesss munecat!!!!😻💓
@gildedpeahen876
@gildedpeahen876 Жыл бұрын
I’m happy to see Munecat here!
@Living_Life242
@Living_Life242 Жыл бұрын
I’d be interested to hear a breakdown of: The Bahamian government’s involvement and potential legal ramifications. Demographics for crypto investors.
@aviannanevernile8579
@aviannanevernile8579 Жыл бұрын
Interesting topics here, didn't know that till now.
@davidd6660
@davidd6660 Жыл бұрын
Scammers be scamming. Trusting regulated bank criminals vs trusting unregulated pirates.
@07Flash11MRC
@07Flash11MRC 4 ай бұрын
Yes, ultimately they are all scammers, but it's a lot harder to get rid of bankers than it is other criminals.
@boombot934
@boombot934 Жыл бұрын
Thank you❤🌹🙏 for the episode🤔! Glad 😊 I've avoided much financial loss...
@mongke1000
@mongke1000 Жыл бұрын
No mention of wood nymphs?
@josearmandogomezrocabado537
@josearmandogomezrocabado537 Жыл бұрын
I see munecat, I click.
@ShirleyTimple
@ShirleyTimple Жыл бұрын
Moar Münecat plz!
@BrutalSnuggles
@BrutalSnuggles Жыл бұрын
Oh hey Munecat! Love you(r stuff) ❤️
@3dartxsi
@3dartxsi Жыл бұрын
...but Matt Damon told me buying cryptocurrency would make me just like the Wright Brothers...
@MonstrousEthicist
@MonstrousEthicist Жыл бұрын
The bit about Cruz wanting to use crypto on the vending machines makes me imagine him getting secretly paid in cryptocurrency, but having no idea how to untraceably turn it into dollars, goods, or services
@divedeeperer
@divedeeperer Жыл бұрын
❤️🌹I Love this Lady 🌹❤️
@pedropetit3431
@pedropetit3431 2 ай бұрын
What a joke of a video. Bitcoin is at an all time high, and blackrock, fidelity and some others have an ETF of Bitcoin, and they are buying most of the circulating supply. BTC will be the most valuable asset of the world and crypto is like a Cockroach. when you think you have killed they reaper!! And with more force
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