The Crypto Comeback

This month, customers of FTX - Sam Bankman-Fried’s cryptocurrency exchange, which collapsed in 2022 - were told that they would get their money back, with interest.
David Yaffe-Bellany, our technology reporter, explains what was behind this change in fortune and what it says about the improbable resurgence of crypto.
Guest: David Yaffe-Bellany (www.nytimes.com/by/david-yaff...) , a technology reporter for The New York Times, covering the crypto industry from San Francisco.
Background reading:
• Is crypto back? (www.nytimes.com/2024/03/05/te...) Here’s a guide.
• And here’s a guide to the risks of Bitcoin E.T.F.s (www.nytimes.com/2024/03/05/te...) .
• This is how The Times covered Sam Bankman-Fried’s sentencing (www.nytimes.com/2024/03/28/te...) .
For more information on today’s episode, visit nytimes.com/thedaily (nytimes.com/thedaily?smid=pc-t...) . Transcripts of each episode will be made available by the next workday.

[@JuanCollao-qs6vl]

Bitcoin is on its way to breaking records, getting closer to hitting new high prices, showing that it's gaining more value and could go even higher than we've seen before. This could mean great things for people looking to invest, suggesting now might be a good time to get involved before it jumps even higher. It's an exciting moment that could change the game in general...managed to grow a nest egg of around 2.3B'tc to a decent 27B'tc....At the heart of this evolution is Kerrie Farrell, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment....

[@swayhulio]

As a beginner, it's essential for you to have a mentor to keep you accountable..

[@JasonGavino-dj6ze]

Kerrie Farrell program is widely available online...

[@TedStalets]

Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience....

[@rogercav40]

The fact that i got to learn and earn from her program is everything to me think about it, it's a win win for both ways......

[@PatchettStalls]

On the grand scheme of things, once you understand the potential of trad!ng, you can bet on it but I think people need the education to fully understand...

[@taranpy2528]

What's the optimal strategy for someone with around $50k, or even less, to begin trading cryptocurrencies today?

[@bellacfu9671]

You need a pro or very goodTrader. Someone like Stephany Reuben

[@alicedeng9103]

Partner with someone who has in-depth market insight and is adept at trade execution. That’s vital.

[@karolinakukielka7690]

My budget was falling apart until steph stepped in to help

[@karolinakukielka7690]

Now they yield about $26,000 monthly

[@taranpy2528]

know how i can reach her?

[@TheT-lv4mt]

No one expected this turn around - except for everyone who was literate on Bitcoin’s value proposition.

[@donkeybus]

Yeah exactly, who expected this?? No one! Except for anyone that has done more than 15 minutes of reaearch....

[@TheT-lv4mt]

The never ending “comeback”. It’s like Amazon stock. Every time Bitcoin price goes down, it comes back higher. It’s like a new technology on an adoption curve that rewards people who hold for at least 4 years. A technology that is the perfect store of value 😮

[@joythought]

Tell me you don't understand crypto as you tell me how the crypto industry works. That was really quite reactionary. It's almost like you have heard Senator Warren's talking points and crypto industry talking points and have very little understanding of how to sift through what's important and what is irrelevant...

[@legalalien2923]

BTC 🚀🌖📈 guaranteed

[@vinista256]

Warren has been right before. Go watch “Maxed Out” from 2006.

[@tonioinverness]

These two clowns had no idea what they were talking about.

[@AlZ-oy4si]

It's political. Separating money from the state is growing more and more important as states grow more and more desperate and depraved.

[@jamesbaker9342]

You guys should do better than “the crypto industry argument is price go up”. There’s a huge benefit worldwide to tech like Bitcoin specifically. Using similar encryption technology that enables online banking, it’s a currency that needs no banks or trust in other humans. Takes human greed out of the equation. That’s the value prop being fought for.

[@TheT-lv4mt]

Do you reckon they could even articulate the value proposition of Bitcoin? Even if for argument’s sake? 😂

[@vinista256]

Human greed out of the equation? Good luck with that one, bro.

[@donkeybus]

@@vinista256 thats what bitcoin does.... It doesnt mean human greed is gone, but it cant get in the middle of every transaction anymore, it is the alternative oligopies like visa/mc sucking billions of dollars out of the economy while providing miniscule value, and its way better for 99 9% of humanity. It really is that revolutionary, everyone needs to study it deeply.

[@stephenboyington630]

That is all very theoretical. No actual national banking or financial systems want to use Bitcoin, and they will not use them. The reasons Bitcoin fans like Bitcoin are the reasons financial institutions and governments hate them. There is no transparency. There is no means to verify who is paying and from where. There is no way to verify people using Bitcoin are not fraudulent.

[@tonioinverness]

@@vinista256 I agree. I wouldn't say it "takes human greed out of the equation." I would say it decentralizes and democratizes human greed. The rules are not controled by anyone and no single entity can change the rules of the game to benefit themselves. They're written in unalterable code. This is very different from our current system in which the rules get rewritten constantly, 90% of the time to favor the wealthy.

[@TheBitcoinBoomer327]

“Crypto was down for the count?” Really?? Who are you??? Have you done any investigation into crypto??? You are out of your league. This is not your wheelhouse!!! Stick to what you know!!!!! This is a horrible, Elementary video!

[@TheT-lv4mt]

Can NYT afford to have just one Bitcoin specialist on staff? This is just so embarrassing. Sound like 88 year old senators talking about internet being pipes and tunnels 😂

[@TheT-lv4mt]

I remember Americans “pouring their savings” into Amazon. Its price “goes up and down all the time”. The NYT was everyone financial advisor … explaining that if price goes up and down you shouldn’t invest in it. 😂😂😂 legends.

[@Chaka2479]

Bitcoin is Gold 2.0! #BTC #Bitcoin

[@TheT-lv4mt]

It’s like a centralised company such as FTX is a risk. If only there was a decentralised way to trade value that didn’t involve shady exchanges. Anyone got any ideas? 😂😂😂

[@TheBitcoinBoomer327]

“The improbable resurgence of crypto?” Improbable to who? Not to anyone who knows anything about crypto! We all know and understand the 4 year cycle and how crypto, specifically Bitcoin is the single greatest technology the world has ever seen and no one, including governments, or the media can destroy it!

[@TheT-lv4mt]

Bitcoin is perfect for pension funds. They are long term holds. Can NYT identify any four year period where Bitcoin wasn’t the best performing asset on the planet?

[@TheT-lv4mt]

Here’s an idea. If Bitcoin goes down like every other tech stock, don’t sell. Hold. Genius insight. I know. 😂😂😂

[@TheT-lv4mt]

World’s largest investment houses and IV League finance departments recommend minimum 5% Bitcoin holding across portfolio. But NYT journos know better. 😂😂😂

[@beerkegaard]

Volatility goes DOWN if a broader swath of the economy has exposure to the bitcoin ETF.......

[@MrLouis123]

Don't ask the government/ public to bail you out if it goes bad

[@TheT-lv4mt]

Never will. Bitcoin holders are forward thinking, highly literate, self-sufficient types. But don’t come after my Bitcoin when the fiat ponzi collapses.

[@donkeybus]

Bitcoin was literally created because wall street got bailed out in 2008 and no one was held responsibile. No one who understands crytpo expects any bail out, nor will they need it with bitcoin.

[@vinista256]

They will definitely ask for a handout when the inevitable crisis happens 🤦🏻‍♀️.

[@TheT-lv4mt]

@@vinista256 agreed. When inflation takes off everyone who “knew better” will be scrambling for a handout from Bitcoin capital gains. Just wait. The self-entitled fiat ponzi promoters will somehow feel entitled to everyone else’s Bitcoin.

[@donkeybus]

@@vinista256 who is "they"? The banks (who constantly fail and get free handouts)? The auto companies (who fot a bunch of handouts)? Iarael (fumded by handouts)? Ukraine? The american people whos financial future is being stolen from them by an inherently corrupt political system? No one asked the governemnt for a handount for crypto losses last time, why do you think the future will be different?

[@stephenboyington630]

How many of you Bitcoin holders actually use Bitcoin for any of the purposes you say Bitcoin can be used?

[@stephenboyington630]

How deep into the real economy is crypto embedded?

[@TheT-lv4mt]

I don’t see any value in being able to transmit money to anyone in any amount anywhere in the world in seconds without having to ask permission from a middleman. My money isn’t really my money. It’s the bank’s and government’s money, right? I should have to ask permission and pay a fee for that permission every time I want to use my money. Credit cards are perfect for online transactions. They easily allow for micro payments and the fees are definitely affordable everywhere in the world. I say, if you can’t afford a 12% transaction fee on an online purchase (which it is in the developing world) then you don’t deserve to transact. Work harder. Be like a New Yorker. Just be better.

[@donkeybus]

Great satire.... I think??

[@TheT-lv4mt]

@@donkeybus 😜

[@beerkegaard]

lmfao get em