What is the ACTUAL use of crypto?

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ABOUT JOHN COOGAN:
I am the co-founder of soylent.com and lucy.co, both of which were funded by Y Combinator (Summer 2012 and Winter 2018).
I've been an entrepreneur for the last decade across multiple companies. I've done a lot of work in Silicon Valley, so that's mostly what I talk about. I've raised over 10 rounds of venture capital totaling over $100m in funding.
I work mostly in tech-enabled consumer packaged goods, meaning I use software to make the best products possible and then deliver them to the widest possible audience. I'm a big fan of machine learning, python programming, and motion graphics.
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Disclaimer: This video is purely my opinion and should not be regarded as a primary source. I am not a financial advisor and this is not a recommendation to buy or sell securities. Always do your own due diligence.

[@JohnCooganPlus]

hey everyone, please ignore all the scammers down in the comments.

[@Calikid24]

You should block them so they can’t comment on your channel. Especially the ones that say so and so helped them make x amount of money for their investment. Just a bunch of bot accounts KZbin does nothing about

[@creativeworxstudio]

Those Scam Comments are going on my nerves :(

[@guydreamr]

You can upload open-source KZbin spam control apps to your channel which will greatly reduce spurious comments.

[@Irobert1115HD]

actually you can copy an NFT: you can dupe them making two originals. they arent copy proof at all.

[@gamesonar5978]

bro would be hard to memorize a private key lol

[@Goodman67386]

Thank you for your videos mate.. . Crypto education is what the world needs the most right now. I don’t think that buy and hold is a valid investment strategy anymore. Not too diluted and to a degree, follows Whitney’s trading ideas and signal tips for your portfolio growth and aggressiveness. He is a man who has not only taught me what the cryptocurrency trading world looks like but a secret to uplift my finance. Buying crypto and waiting for the price to shoot up is not the best way to invest in the market but buying and trading is. Craig Reeder trade signal does the heavy lifting, generating competitive returns for crypto traders and investors in the form of money and peace of mind. Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path...

[@Goodman67386]

He mostly interacts on Telegrams, using the user-name.

[@Goodman67386]

CraigReeder,..

[@nuevacuentapure2022]

Thanks for keeping it light and real at the same time. hodlers like us really need him in times like these

[@JoshuaK.Coble22]

I appreciate the professionalism and dedication of the team behind Reeder ’s trade signal service.

[@CristinaMarcu-kn9ku]

expert is the best strategy for beginners and busy investor s who have little or no time to monitor their trades.

[@nothingiseverperfect]

Your content has been great so far. You’re definitely one of the more “grounded” tech bro / tech news with solid analysis of how these technologies work, and the surrounding material context that makes them grow or die. Great stuff.

[@tritonmole]

5:38 wow this is first time i ever hear anyone mentioning Processing. I love it, its amazing for writing extremely custom yet simple GUI for interfacing with arduinos and homemade android apps. For example it took me only few hours to write GUI to control servo motors that position my front door camera.

[@Exv1st]

Thank you so much for such insightful videos! Love your channel!

[@dgochez]

There are two things this video forgot to address in regards to NFTs 1. Gas and minting fees, they are high, and volitile and it seems to me the only people who are safely making money from NFTs are the ones in charge of that. 2. NFT does not legaly bind anyone to owning anything, There is no ties to copywright or any other legal way of defining ownership using them.

[@GeorgeHashesThoughts]

This couldn’t be further from the truth, it binds by all means legally since the ownership of the token is registered in a public immutable ledger. Of course you can get sued. Whether you are pro or anti crypto NFTs etc, it’s a indisputable proof of ownership.

[@dgochez]

@@GeorgeHashesThoughts"public immutable ledger" has no legal foothold is what I'm trying to say.

[@GeorgeHashesThoughts]

@@dgochez a public ledger accessible and verifiable by every human being with access in a computer is not legal proof? If the court decides to not accept it as an evidence, it’s no different than not accepting evidence like video, photos or testimony of witnesses for eg. a crime. It all comes down to how society evolves into common sense or sinks deeper in the corruption… eg totalitarian and failed communist regimes.

[@DannyBoy443]

As a (considering) NFT artist, I'll bite lol. On the first, everyone pays gas and minting. There is no way around that. On your second point, that's not what I've heard because the artists name is always shown. That has value both legally and in terms of market. Otherwise you'd be right.

[@pilate7004yt]

@@GeorgeHashesThoughts Do you understand the maxim of law "no tertium quid" (no third way)? What that says is that, to have enforceable legal ownership over a thing, there are only two options: a chose in possession or a chose in action. "Chose" is a French word meaning "thing", so it is "ownership of a thing via possession" or "ownership of a thing via the right to bring an action in court". A $100 is an example of a thing that you own because you possess it. As soon as the person who gives it to you lets go of it, you own it. Problem is, you don't possess any part of an NFT in this way - only the private key that controls it. A chose in action CAN be had over a ledger asset. Land title is a good example, but that's because of the land title act (in your specific jurisdiction). There's no blockchain act or NFT act that gives you this kind of right in ownership. Most people are confusing "control" and "ownership". They are not the same thing at all. The UK Law Commission has been looking at this problem for some time, trying to get around the no tertium quid problem. It's a real issue.

[@AbhinayaChhetri]

I'm bingewatching your contents Mr.Coogan, awesome stuff 👏

[@nikita3666]

I think one of the problems here is that we're trying to think up ways a technology can be used instead of it having use cases on its own. I mean, I understand it can have some uses as part of the backend for web 3, but other than that it seems to me at this point that we're just trying to prove our favorite toy has real value. No disrespect :)

[@stachowi]

As someone who’s been in crypto since 2011… I’ve lost all hope for crypto. IMO it’s just a pump and dump cash grab at this point…

[@nikita3666]

@@stachowi thanks for your perspective! I think crypto did have a big promise but the sheer speculation around it I think has killed it for now. But who knows, we'll see!

[@danicacior4815]

I completely agree.

[@ashmx_]

I completely agree. Also anything that was mentioned as a “use case” in this video can also be done with current tech. Also Blockchain isn’t decentralised either, if you have enough money (let’s say a government that wants control over a Blockchain network) you can either own more machines (bypass proof of work) or buy more stake (bypass proof of stake) so the whole model is broken, more money wins more ground. At least no one can “own” the current internet

[@nikita3666]

@@ashmx_ great points! When I heard about NFTs being used for gated content, it sounded to me like a sort of single sign on for Patreon on multiple platforms. It is possible technologically and has the same issues - negotiating with platforms. As for decentralization, I can't be sure completely as I'm not knowledgeable enough on blockchain and crypto, but it sounds reasonable to me. If Satoshi and/or Winklevoss twins or other big holders can get the majority stake - they're basically controlling the blockchain if I understand it correctly. And they're not regulated and can even be completely anonymous.

[@SmoltingWassie]

The refund policy concept is poorly thought out, a company can easily put in their terms of service something akin to "Refunds of goods purchased with BTC, will be refunded equivalent to their original USD price at time of purchase".

[@pharoah327]

Actually I think you are the one not thinking this through. The price of bitcoin (and all alt coins) fluctuates within milliseconds and is reported differently by different exchanges. At the exact same moment in time, one exchange may report $10,000.00, another $10,001.00, another $10.005.56, and so on. And I'm just showing it rounded to the nearest cent when actually decimal places go further than that. So which exchange do you trust? Will customers argue that the price was different at time of purchase? You may say that the differences are only a few bucks but I've seen people argue with Walmart when their refund is a few pennies short of what they think it should be. Large merchants will mostly just tell customers to deal but small merchants that rely on every customer will get screwed by these discrepancies and will ultimately lose business because of it.

[@SmoltingWassie]

@@pharoah327 you raise a good point, but further terms and conditions would obviously hammer out those other details, “refunds will be equivalent to their USD price, on Coinbase at the blockchain timestamped time of txn” (or any exchange but just to specify a value), alternatively, depending on the purchase, you’d assume the vast majority of places would accept cash & crypto, therefore if you bought a shirt Bitcoin and want to return it, you’d be returned the USD price they were charging for the shirt at the time. However, I will say that in general, I’m against Bitcoin as a payment system, 7tps can’t handle the global economy, it’s better off as the niche store of value/speculative asset.

[@StevenArmstrong-yn1mm]

A stock with no company.

[@tom18807]

Really thought provoking, great video.

[@meetmattl]

Amazing video John, really look up to what you're doing here!

[@theElrin]

Love your info. Very helpful to unpackage all the new ways of perceiving data and it’s value. Hopefully I can now help my children to grasp and maximize their potential as artists and coders.

[@thomaslisankie342]

Great video. Very balanced and thoughtful views

[@gavdev12]

Banger as always, John

[@courtsidggyuhhg]

Really like your content!

[@GautamSharma99991]

Still early days. Fourteen years is a blink in the big picture. The internet was invented in 1983, and yet widespread adoption didn't begin until at least 15 years later. As for Bitcoin volatility, that will settle over time. Price discovery and fluctuation is normal in the early days of any asset... look at Amazon's price chart for the first 10 years. And, with regards to making quick and cheap payments, you touched on it yourself -- the Lightning network will solve it. Plus there's also the potential value-add of the Bitcoin Ordinals, which could take the place of NFTs

[@God-ld6ll]

"When the wrong cook uses the right knife, the right knife works in the wrong way."

[@OmegaVideoGameGod]

Exactly. The right man in the wrong place can make all the difference in the world too :)

[@KgakgamatsoCasandra]

I really appreciate your videos John.

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ•••

[@RAMKUMARRAMESHR]

Jhon what do you think about blockchain technology behind it ?

[@visionarypond]

This was an incredible description of the use cases of Crypto! Is there a platform already out there for creators to utilize a token that both creators and their communities can support and develop? I'm new to the space but, I'm starting my blockchain journey to eventually start a platform that is by the community, for the community. Maybe a variations of Twitch, KZbin, Indy Game platform and e-sports broadcasting. Am I crazy for thinking this?

[@shahbasharat]

Thought provoking and highly informative

[@eugenekorotkov3758]

It really isn't though.

[@Jd-ace]

i feel like we can use crypto for a second function or something. like maybe linking gpu's together to also crunch big data sets on the side too or something.

[@tomwallen7271]

Exactly! Like, obviously the main use case of crypto is to do large meaningless calculations on random numbers. But maybe in the future, they could also do large USEFUL calculations on ACTUAL numbers. That's when crypto is really gonna go mainstream.

[@crackedtvgaming]

Well done video!

[@irlshrek]

you dont need a blockchain to do this creator membership thing. in fact not only do we not need it, it would make it objectively worse than the non-blockchain version.

[@tomwallen7271]

Yup! Whenever blockchain/crypto promises something. Just ask yourself how that is being done today. Then think real hard about whether the blockchain version is actually 'saving' you anything, or is it's actually just adding another layer in.

[@jqydon]

Even if there was slight use cases for NFTs the state of the market has removed most peoples ability to take it seriously. The gimmick of owning digital art isn’t strong enough to have a valuation anywhere near the amount the speculative market puts it at. A lot of the functionality people argue as a selling point for NFTs is already possible without the blockchain without really adding any real value just for being apart of the blockchain. Crypto and NFTs at this point are to me people trying desperately to be ahead of the next big thing without realising the market is held up on stilts with little practical value.

[@WildWizardWolf]

Most NFTs aren't art.

[@spoonman4024]

Something I've noticed after being in tech for over a decade is how quickly people forget the transient nature of modern tech. We're so fast to jump on the next profitable concept that we disregard fundamentals in the process. I think if most people stepped back and took the most objective look possible, they would see how much of the hype is based on fomo and a desire for personal gain, not sound reasoning or historical probability.

[@michaelparry1028]

Hi, there are No "Fundamentals " for crypto. Super scary for you. 😢 And, using word "historical" tells me do not understand. Heck you are probably older than me. lol

[@SB-ex8nt]

A problem people might have is time. How long will it take to see results? When will others jump in? When will others joining have an effect? Will I (depending on the individual in question) be able to live long enough to savor any or the results? A grim question, but this matters to some people; the dead can't pay taxes after all. And yeah, this is to do with money, but money talks.

[@dunar1005]

0:54 because this got canceled when Satoshi started working with the banks. They settled on using it as an asset, not as payment method.

[@josueyuman7990]

I think the main use is as payment and create aditional functions over it, Bitcoin Cash us a better Bitcoin with low fees that makes perfect for payments, and over it create smart contracts to stabilize the coin value and create NFTs, Bitcoin Cash is the original idea of Bitcoin

[@Brigitteq1]

The best investment one can do right now is to investing on Forex trading although cryptocurrencies are good but ever since I swapped to Forex trading I’ve seen a big difference.

[@Ethanoliver234]

Oh yea you got to see the favourable Forex rise in profit, this will be the best time to invest in Forex trading based on current status.

[@maksymian2450]

@Juan Carlos I’m thinking of moving into Forex trading, Can you please help me trade?

[@dorotareed4978]

Forex trading is truly a Game changer, it will be a lucrative move to take advantage of Forex trading because it will be very profitable overtime

[@christaindonald2735]

Smith jones put me through Forextrading and now I’m making profitable trades on my own after learning his winning methods.

[@christaindonald2735]

He is very active on G mail.

[@jameslil6546]

Bud u simply didnt say anything that cannot be done without nfts and the blockchain...... nothing zero , the safe valett against govs has grounds UNTILL thay regulate.....

[@icecave89]

In Denmark if you are registered with CopyRight Org you get a percentage of Danish Aution Sales of your Art.

[@FrazerKirkman]

Why would we need nfts for cross platform subscriber authentication? Any form of single sign on would do.

[@beyondthehorizon1474]

Simultaneously, yes and no. In countries and environments with high corruption and disorderly governance it may serve as a somewhat reliable platform for commerce and transactions. In normal day to day, global transactions - not at all. At a whim it will be shut down if it ever pose a real threat to the established swift infrastructure. I see it working out in a different format, though. Traditional paired up with modern.

[@lug.5329]

I am in Asia and Asian. I still say nope. If the prices of crypto can go up and down in a matter of minutes or hours, who will really use that as currency for commerce? It's not even modern. It's from 2008. Mpeza can beat it anytime if local transactions (sending, receiving, and paying is what we talk about)

[@eugenekorotkov3758]

Bitcoin's usefulness is nothing to do with commerce. The REAL use-case it has is that it is the scarcest asset in existence, outpacing house prices.

[@sucram1018]

​@@eugenekorotkov3758 In a world where most don't use it nor desire to because of the nature of it. Crypto currency is designed for people that don't want to use traditional forms of payment or people that want to leave the traditional systems of the world. Banks, governments, off the grid and etc type people. Which is fine but it's just a fact. In other words, majority of the world has no interest in crypto. That's why it's been here for years and hasn't changed the world. Unless it does, currencies of a country will remain the standard norm of the world.

[@ArcticPrimal]

10:28 You would think thats a bad thing if you are assuming creators dont want repeat customers. I'm sure majority of creators want and count on the same viewers having a membership on YT, Patreon etc at same time to double their money.

[@forextrading.expert]

Thank you good work

[@mefisto05s.20]

Another great video!!

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ ☝️••

[@gdcolwell]

"If it [quilt] came with an NFT to prove that I owned this particular design, I think that would be cool" I don't understand how an NFT proves you own the quilt. What if you burn the quilt, or sell it, but still own the NFT. Or what if someone hacks your Metamask and steals the NFT but you still own the real quilt? The NFT does NOT prove ownership of a physical object in the real world.

[@jensenraylight8011]

"For at least 400 years, when you purchased shares in a publicly traded company, you received a piece of paper to certify your ownership percentage. Stock certificates were the only way you could prove that you owned shares in a company." NFT and Stock is similiar, what if you burn that stock certificate?, you no longer own it then? what if someone stole your stock certificate? what if you burn your own birth certificate and high school diploma? what if someone stole your birth certificate? who responsible for that? is it your high school or your hospital?, no it's your responsibility, stop blaming someone else for your own problem your argument is an Edge case, it's not a normal things that people do everyday or accident that happens everyday. if you don't want that Edge case to happen, then don't do stupid thing, just use it normally and carefully it's a scenario that already happen in the past with stock. did people nowaday give a f*ck about that when they buy a stock? no you are using an edge case with only 0.1% probability as an argument to bashing on NFT. it's irrational don't you agree?

[@gdcolwell]

​@@jensenraylight8011 There's a subtley I think you're missing about my point: none of these things require a decentralized blockchain (no NFT blockchain is actually decentralized btw, BItcoin is the only actually decentralized blockchain). Like if I lost my house deed I can just go prove my identity and get another one from a CENTRALIZED authority. If someone steals my NFT house deed, no one can EVER get it back or create a new one. For purposes such as these, doing it on an NFT has precicely ZERO benefit over the current system. A house deed, stock paper, or quilt receipt does not have to be on an immutable blockchain.

[@whatsapp5881]

@@gdcolwell ⬆️⬆️ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ☝️•••

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ ☝️••

[@kaan608]

Great content as usual! I think you glossed over huge potential of fast and cheap layer 1 networks like solana to become infrastructure of the real world payment systems. Technology is already here, applications are being develeped by many including myself and adoption will follow logistic curve pattern which is how technological pogress manifest itself.

[@gracechidubem9577]

You are correct, technology is already at our feet and keeps getting better and adoption seems to be rapid as well. AI on the hand is also getting the public views and opinions and some projects like AIwork are also keeping us in the loop about how blockchain directly affects the use of AI. Won't be easy working these machines but will be worth it in the end.

[@nhpkm1]

16:32 the entire video summed up in 1 sentence . im power phrasing : does crypto have a solid use case right now ? " IDK *shrug emoji*"

[@inversebrah]

you must have watched with your brain off then, but that sums up about all crypto "skeptics"

[@wesleyp3024]

they could still make money off NFT membership passes. all they would have to do is charge the creator instead of the user since the creator gets paid directly. the only thing that changes is how to money flows. right now it flows from youtube, to a creator, but in these situations it could just flow from the creator to youtube.

[@BlacksmithMMA]

The utility in crypto is the ease and cost of sending large amounts of money. You can send a million dollars in minutes, try doing that at a bank and it’s the biggest pain in the backside ever. The value isn’t in small transactions but very large ones. The volatility is an issue it many people who need liquid cash to use will take a small hit % wise to have it as quickly as possible.

[@shenanigan111]

Cos bank do checks. Which is alot safer. So going through thr bank is still better. Why do you think there's so many scams in crypto. Plus u can see where that money is going since its public unlike bank. So its better to go through the bank

[@shenanigan111]

Also banks can send millions instantly if its deem it safe such big businesses that has been trading frequently

[@Optimista1234]

Wrong. I received almost a million dollars to my bank account and no delay or questions asked. Who told you that?

[@nosuchthing8]

​@@shenanigan111no. If you are a crime

[@vicarious4961]

@@shenanigan111😂😂😂

[@tommymandel3326]

12:00 that was my idea - my rock operas, drawings, songs, everything becomes one big NFT

[@josueyuman7990]

Can you make a video of Bitcoin Cash (BCH)

[@wildlifekpg1256]

Brilliant. You have such a talent for this! Thank you for the amazing content ☺️

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ•••

[@beowulf2772]

There are great arts out there but still underappreciated.

[@triptrapper4728]

Great Point

[@robotinthebrain]

What makes it valuable is the outcome of the fear&greed dynamics !

[@tomwallen7271]

My MBA class was talking about Bitcoin back in 2016. We had a long debate on the technology, valuations, financial markets, payment systems... I''m glad my reaction in 2016 has born out. "I don't see a single compelling use case for this SPECIFIC iteration of the technology (i.e. the Bitcoin blockchain) couldn't be justified by the $1000 pricetag.

[@nickhatzis]

such an awesome video. as a young guy interested on building a blockchain as a service startup in the future, trying to find great use cases and building a highly profitable business, it will take a lot of experimentation and maturity of the tech over time. With how the space and general economy is right now, now is the best time to build and test new ideas to prepare for the next cycle.

[@iam4iamWe]

What are you working on? The best Blockchain utility idea will grow like wildfire in this space. Or, new concepts using decentralization to replace legacy systems are also sure to take off.

[@nickhatzis]

@@iam4iamWe I'm right now focusing on B2B AI Tools, as it has high demand right now, to make enough money to build my startup that will incorporate nft tech. The biggest utilities for blockhain for 2023 is setting proof of ownership for the ai-generated assets people make (blockchain signatures), decentralizing the backend infrastructure of the internet (like datacenters, cloud services) and also working invisibly in videogames (e.g. trading skins without knowing you use blockchain as the middleman).

[@8301TheJMan]

Backed currency is a horrible idea, whether it being gold-backed or having a cap on crypto due to the simply fact that government spending is inherently inflationary - which is why many/most modern nations ditched it for fiat currency instead. When you have a finite supply of something giving the currency it's "value," means that every time the government net spends causes it' currency to have less value. This makes it extremely difficult to do stimulus spending in the case of an economic downturn, like a recession or even worse - a depression. This is why when nations in these positions would usually suspend the gold-standard, like when it came to the New Deal and the rampant amount of gov spending leading up to an during WWII. With a system such as ours in the US, which is a fiat free-floating currency system, government spending isn't inherently inflationary. When the fed government has the monopoly over the creation of new currency, with the central bank, (the Fed), being the intermediary between the Treasury and the private market, fiat currency systems allow for massive amounts of direct government spending, and if targeted correctly and depending on the state of the economy - it can do so without much - if any inflation. This is due to the increase of economic output which can eat away the inflationary potential. Of course, if you get to a point where the economy is chugging along with full employment, and yet the Gov continues massive amounts of spending, you'll get to the point where there are simply too many dollars chasing too few goods, which can definitely cause hyper-inflation. The other thing that can cause inflation/hyperinflation even in a fiat free-floating currency system such as our own: is if say the governmental spending is targeted toward things that don't produce anything of real world value in the economy, whether it be physical goods or services, and is instead spent on corporations doing stock buy-backs and other forms of financial speculation, now that has a shit ton more inflationary potential. Due the lack of any economic output, and yet a massive influx of new currency into the economy. Which is of course what has happened to the US the last couple years. Most of the massive economic recovery spending under Trump first and then Biden second, and not nearly enough financial aid/support for the poor and working class, which allowed massive corporations and he rich in general, to just save that money or do massive stock buy-backs, this made the economic recovery extremely slow and extremely unequal because it didn't go toward purchasing anything with any real-world value, therefore rendering the stimulating effect - significantly neutered. Then you had many major corporations who made or were making record-breaking profits since Covid, began artificially raising their prices, which lead to smaller corps being forced to raise their prices as well, which when combined with everything else - is what lead to the current inflation. It did not have to do specifically with the government spending itself. A perfect example of this was Obama's econ recession-recovery stim-spending, (though paling in comparison to the amount of spending both Trump and Biden have done, (because the economic downturn as a result of economic shutdown over Covid - was going to far-far greater than even the 08 housing market crash that caused that recession), it still was nearly 800 billion dollars, and yet it didn't having any major inflationary impact whatsoever! None of this would work of course, if the US had their currency pegging to a foreign currency or if it didn't have a monopoly on the creation of new dollars.

[@JustBrownShuga]

Very thoughtful

[@sathyaphaneeshwar]

Can't we use these NFT to link a physical asset and use it a proof of document in the future?

[@whatsappme6859]

Hit me up I have cryptoTrading updates??

[@ngacni]

I think Amazon does send you purchase invoice right?

[@insipidcynic]

You came very close to pointing out the broader utility of NFTs. An NFT is just a kind of tokenized asset. It can be used for any kind of intellectual property. Focusing on NFT in the art market is kind of missing the underlying potential of the technology.

[@scotgod1]

much love john

[@skaltura]

Domains would be a good use for NFTs. They kinda are the OG NFT afterall.

[@KENTOSI]

See you mentioned the problem there: There's no way different platforms (KZbin, Apple, etc) will willingly allow you to share your income across them. They want vendor lock-in. They're business that need you to be sticky to them.

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ ☝️••

[@potasaurusjr.4973]

The more spread out and diverse industry and services are the better.

[@gaogaigarfinal6]

Bro this channel is amazing. Real in depth and great narrating. Keep up the grind bro this channel is about to blow. We need more young entrepreneurs giving us the news

[@AvatarNickGames]

You can actually use NFTs for more than just artwork. The exciting thing about NFTs is the royalty system and programmability. There is nothing in web 2 that currently does something similar. NFTs that aren't simply artwork are the future for blockchain usability

[@Toto-95]

sounds like gibberish to me

[@jonathanantoine4962]

Of course you can do similar in web2. Actually everything happening in web3 is something you can do in web2. The only difference is in the fact that it's not in a centralized database.

[@kenpachizaraki4184]

Nfts are proof of ownership mechnism. It's often used for the ownership of an address which then points to a jpeg but the technology can expand beyond that. You can apply this to other methods of ownership. They've been used with physical products to verify ownership and authenticity. I've seen even more useful cases where NFT applications allow you to tokenize a stake and sell the ownership of that stake in the form of an nft. You can then sell the ownership of that stake. This opens up a lot of possibilities in an ecosystem. This is all done in a trustless manner with no middlemen intervention to perform the action.

[@AvatarNickGames]

@@jonathanantoine4962 Not true, you can't do programmable royalties with web2. If you wanted to, it would be a centralized company, trading outside that company's boundaries would avoid the royalty. Blockchain guarantees it

[@jonathanantoine4962]

@@AvatarNickGames That's what I said, you could and it exist but it wouldn't be decentralized

[@MahnazNori]

узнал много нового про альткоины из твоего обзора я даже не думал, что сейчас есть столько крутых перспективных монеток

[@philv2529]

While talking about Leonardo da Vinci you showed a picture of the Sistine chapel ceiling which was done by Michelangelo not Leonardo da Vinci

[@RavarsenBlogspot]

What's the point of Bitcoin if you need gov IDs to buy or trade

[@GeorgeParfin]

You do not need an ID to buy it. There are many places where you can buy without KYC restrictions. How do you think all of those darknet drug dealers stay in business without getting caught?

[@erickalungi7273]

Informative content 👏🏽

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ ☝️••

[@cjdrax]

I didn't know Spiderman makes cool videos! xD

[@thepolymathmafia.]

Hi plz make a video on Mars colonisation

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ ☝️••

[@blaa443blaa2]

I excepted this video was going to debunk cypto but it actually introduced decent possible use cases

[@ADHDMoneyandBusiness]

Solid commentary. It's a great time to be skeptical of Bitcoin and Crypto, as we approach more and more attractive times to buy-in

[@akshaycherian2047]

love your content!

[@AnymMusic]

9:06 the only issue here is something that has been prevalent since its launch, art theft. Who's stopping me from taking someone's art, listing it, and raking in royalties? My wallet address is anonymous as long as I don't publicize it after all. When I steal someone's art, there are no repercussions, and realistically nothing the original artist can do when they find out because it's not them who are written in the code as the original owner, I am.

[@Hemsafrica]

Value generally is a perception first, subjectively then becomes objectively when accepted by majority.

[@billyhamilton3669]

I wasn't sure about nfts for a long time. I've come to realise the biggest use case for nfts is digital receipts and tickets

[@flazerflint8662]

Amazing video John,great guy

[@marsthablockparent706]

Btc is a store of value , and will continue on as such once all 21 million Btc are purchased the scarcity factor will make the price rise . It will always be traded as a store of value that is decentralize .

[@martianprince3299]

great video

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ☝️•••

[@ldgaetano]

There's an interesting blockchain game called Blitz TCG

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ ☝️••

[@mbra8228]

thanks!

[@agilesamus]

I'd rather invest in plain red t-shirts than crypto.

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ ☝️••

[@finalbox4416]

Missed opportunity for NFT sponsorship on this video

[@zvigel3128]

Litghning Network was in the work for 5 years and works perfectly since a few years lol

[@Mr.Mini_Moto]

Bitcoin is like Gold my friend... if you want to spend your crypto go to a coin like litecoin....

[@Akash.Chopra]

Great insights, thank you for the share John! Useless, no, but not the game changer I assumed/hoped it would be a decade ago. I bought my first 5 BTC with 1/4 oz of MJ back in 2010, when btc was only good for buying/selling drugs. Changes in the underlying tech over this time (12 years) have been quite lackluster and disappointing, and the vaperware stories haven't changed much since 2010-12 either.

[@sagarjaid]

Long waited video

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ•••

[@vladusa]

You missed the point of NFTs. As someone who developed an entire blockchain system, this is what the point of NFTs is: your property (in your case, quite naively, you used art) can't be seized by the government. In addition, NFTs demonstrate a ledger-based pointer to a distributed file architecture. This is useful for displaying ownership of any file type. So, if someone owns Facebook's largest number of shares and is declared the CEO or lead board member, they can store an encrypted disk of their passwords and access files that give them unparalleled access to remote systems. Whoever owns the expensive "NFT" would be given the private key from the corporation itself, as agreed to by the board. So, in effect, this is a two-way agreement, a social contract similar to the likes of John Locke's original discovery, representing virtual (technically physically tangential) ownership of something valuable and powerful. In no way does power have to mean data size. In no way does NFT have to mean art. In no way does art have to be valuable. It's the power it wields us that gives NFTs and distributed architectures, hosted on blockchains, their value. So, to philosophically refute every argument given so far using basic contrapositives: If data can't be tied to scarcity, then all data is free. If all data is free, then corporations would all be broke (no profit due to lack of scarcity, with digitalization as a vector for piracy). If all centralized architectures were broke, there would be nowhere to store data. But I directly contradict this statement, due to the existence of pirating platforms and the continued prosperity of music giants like Spotify and Apple Music. Data is still storable, data is retrievable, readable, modifiable, and writable. These entropic systems require quadratic increases in monetary spending, yet they remain secure and operational.

[@lesibamothupi4047]

Tʜᴀɴᴋꜱ Fᴏʀ Wᴀᴛᴄʜɪɴɢ... Sᴇɴᴅ ᴀ Tᴇxᴛ Oɴ Wʜᴀᴛꜱᴀᴘᴘ Wɪᴛʜ Tʜᴇ Nᴜᴍʙᴇʀ Aʙᴏᴠᴇ....🔝📝✍️

[@sagarhabib4037]

I want to you to make a video on Indian IT industry.

[@johnmonroe4499]

Problem with the authoritarianism insurance idea is that it assumes that at some point we're converting something of value into crypto format. As an explanation for the demand for crypto this makes sense, but it doesn't show a source of value for crypto that isn't derivative: crypto protects your access to your real currency.

[@hatsappme430]

I have a life changing info for you ✍️

[@RicoMossesgeld]

Hey John, thanks for the video! Speaking of scams and get rich quick schemes, there are plenty of comments here shilling a supposed cryptocurrency from Amazon. Please delete them so that your viewers won't get tricked into losing money.

[@JohnCooganPlus]

thanks for flagging it! working on it!

[@RicoMossesgeld]

@@JohnCooganPlus thanks man! This open-source tool might be useful: kzbin.info/www/bejne/aKW1oaOOjMSUgdE

[@TonyNovation]

Hey John, you missed a really great opportunity to talk about Big Time and Joystick Games.

[@62TEEG]

You right You can't be in crypto to just buy and sell dips you gotta be willing to take it as currency

[@ArcticPrimal]

Having records on the blockchain can easily be used to track people's routine allowing stalkers or hitmen to physically use that to their adventage, for example if you always go to whole foods at a certain time or day that opportunity to stalk and follow home.

[@MusfiraSarfraz-nf7sd]

5thscape is rocketing to the moon! 🚀💸 Don't miss out on this ride.

[@LisaRomero.]

Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it

[@Jody8337]

At the crucial time, telling anyone about crypto currency trading isn't financial advice by all factors. It is life advice

[@Rick.4890]

@@Jody8337 My thoughts exactly 👍

[@Rick.4890]

I had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment

[@Dylan-baerber3486]

@@Rick.4890 I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the crypto market several times but always got discouraged by fluctuations of Bitcoin value.

[@Larry_Swanson580]

@Susan Karen It fascinating that you just recommended Mrs Camille.

[@inversebrah]

I think you should have mentioned more defi oriented use cases, but it's a solid video nonetheless.

[@obinnasleeves1612]

I have a video idea. Maybe you could talk about the catastrophic events that may follow if Elon Musk had actually held by the Twitter deal, the fact that Bill Gates is the largest farm owner in the U.S, and the obviously detremental effects that may occur when the Metaverse is launched. Just a video idea, ofc, but it sounds quite nice.

[@anamarvelo]

The asset anti-authoritarian argument falls really flat for me You could just as easily have your money in an offshore account, Or just store your money in tax havens or a multitude of financial institutions. There really is no reason that a hyperrich person in any kind of country from the most liberal of democracies to the most authoritarian of States should have all their money in one country and 1 financial institution

[@dave.crypto]

Nice documentary. Crypto is good for tonnes of things. Such as speculating and cash management. Everyone wants alpha.

[@amrmostafa1738]

I disagree with many points, but your enthusiasm is irresistable !

[@AlJay0032]

Ethereum? Smart contracts? Defi?

[@hackladdy9886]

On the topic of the social media user network effect, and interoperability, you should totally check out a relatively new project called Lens Protocol! To put it simply, it's the backend of a social media platform, but can be accessed by any platform on top. I can't say more here otherwise KZbin somehow manages to flag me as a spam bot, but not the actual bots, but I'll say that It's pretty early stage, but it's supported by large players in the space, and it looks really promising.

[@whatsapp5881]

ᴛᴇxᴛ ᴍᴀx ғᴏʀ ᴀ ᴘʀᴏғɪᴛᴀʙʟᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛɪᴇs ʀᴇɢᴀʀᴅɪɴɢ ᴄʀʏᴘᴛᴏ☝️•••