What Should Have Happened at the Cryptocurrency Hearings

  Рет қаралды 81,265

ReasonTV

ReasonTV

Күн бұрын

Пікірлер
@tcgtpl
@tcgtpl 3 жыл бұрын
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” - Ronald Reagan ..... which I'm sure that'll be their take on cryptocurrency.
@andresrogersa
@andresrogersa 3 жыл бұрын
If it breathes, mask it. If if continues breathing give it a booster.
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@PAIP_Studio
@PAIP_Studio 3 жыл бұрын
So you are telling all this people that I would not hire to clean my garage... Are all elected officials? Why? How? Who? ... I have so many questions... And so many nightmares... Our future is governed by morons...
@russetwolf13
@russetwolf13 2 жыл бұрын
If Reagan had one thing going for him it was the people with their hands up his ass knew how to make horseshit sound good.
@Pavel_Makarov
@Pavel_Makarov 2 жыл бұрын
So, ya should try a little more. And its a pity that u haven't mentioned O-MEE. They are worth it.
@etsequentia6765
@etsequentia6765 3 жыл бұрын
- _"You're buying 100$ sandwiches?!?!?"_ - *Senator:* Sure! doesn't everybody?
@YadraVoat
@YadraVoat 3 жыл бұрын
Heheheh, that was a good catch, but also "half a percent" is nonsense. It's usually closer to 2.75% or more if I'm not mistaken.
@kylelaw7210
@kylelaw7210 3 жыл бұрын
-Senator: Sure! Taxpayers buy me $100 sandwiches.*
@ProductBasement
@ProductBasement 3 жыл бұрын
"I don't understand baseball, I just want to regulate it." lol perfect🤣
@AusFirewing
@AusFirewing 3 жыл бұрын
"There are concerns with the use of crypto for nefarious activities. You know what else is used for nefarious activities? Cash." Holy moly a politician with an ounce of sense.
@Graeme_Lastname
@Graeme_Lastname 3 жыл бұрын
A politician with an ounce of sense. Hasn't happened in my lifetime. Really doubt it ever will.
@mikewurlitzer5217
@mikewurlitzer5217 3 жыл бұрын
Which is why obama sent pallets of untraceable cash to Iran instead of a simple bank transfer so money could be traced to make sure it was not used for nefarious purposes which of course Iran would never do. /sarc
@Graeme_Lastname
@Graeme_Lastname 3 жыл бұрын
@@mikewurlitzer5217 Money is money. Once you've got it you can do whatever you want with it.
@Valnotersc
@Valnotersc 3 жыл бұрын
Ah, but you see they will use that argument to outlaw cash. So you can then only use a debit/credit card. And if the banks then decide to implement negative interest on people who have any savings - what are they gonna do; withdraw the savings? And if the payment services decide that you aren't allowed to gain money because you have the wrong opinions (as has happened on sites like PayPal and Patreon) what are you going to do?
@Graeme_Lastname
@Graeme_Lastname 3 жыл бұрын
@@Valnotersc It's called war and it's already coming.
@todayontheinternet9576
@todayontheinternet9576 3 жыл бұрын
Politicians - 'Is there any way I can insider trade this stuff?' Crypto Bro - "Umm.....no?' Politicians - 'Can people achieve financial independence on it?' Crypto Bro - 'Yes! You're finally getting it!' Politicians - 'ILLEGAL!!!@#!!!'
@ragethefire758
@ragethefire758 3 жыл бұрын
Bruh I tell you these old ass politians would do anything to gain control that's why their asking these control freak questions and arguments, they know crypto is going to be the future but wanna find a monopoly or loophole to keep people struggling in today's society with a tax policy for it cause they know that their precious dollar is dying
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@cheeseburger12
@cheeseburger12 3 жыл бұрын
@@ragethefire758 I don't know if Crypto will really be the future. It has problems. But I would really, really, REALLY like something the dollar has to compete against.
@2020Twenty
@2020Twenty 3 жыл бұрын
Control freaks in China and India already trying to ban it
@carlodave9
@carlodave9 3 жыл бұрын
One of the primary reasons for the creation of the United States Constitution was to put a stop to alternate currencies that sprang up after the Revolutionary War.
@pwnyou2295
@pwnyou2295 3 жыл бұрын
2:34 - By government's logic, credit cards never should have been adopted because only a handful of retailers accepted them decades ago.
@russetwolf13
@russetwolf13 2 жыл бұрын
Yes, credit cards should be illegal, they're literally just debt traps.
@TheMichaelMove
@TheMichaelMove 3 жыл бұрын
Them: Please explain crypto to us. Us: No.
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@shanedk
@shanedk 2 жыл бұрын
Just note that the "weirdly bad answer" was from Sam Bankman-Fried...
@EF-69
@EF-69 3 жыл бұрын
Yes, we still use fax machines, regulated by the Communications Act of 1934. Seriously.
@fearthehoneybadger
@fearthehoneybadger 3 жыл бұрын
The government is getting in so, it's time for everyone else to get out.
@andresrogersa
@andresrogersa 3 жыл бұрын
or go into privacy
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@homewall744
@homewall744 3 жыл бұрын
Funny how tens of thousands of laws don't "regulate" anything, so they need regulations too. If it's not illegal, then it's legal.
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@bdfunke
@bdfunke 3 жыл бұрын
2:53 there’s a congress critter who thinks it’s worthwhile to mask while teleconferencing?
@roysmith770
@roysmith770 3 жыл бұрын
You never heard about computer viruses?
@JoeGrunt9
@JoeGrunt9 3 жыл бұрын
If i was in congress: "hey, i got an idea, lets do nothing and let market sort it out."
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@viperstriker4728
@viperstriker4728 3 жыл бұрын
Have you considered moving to Wisconsin and running for office? You have my vote.
@troyh3628
@troyh3628 2 жыл бұрын
They would never let you be "elected". You either have to be a lying, backstabbing thief to be a democrat, or a spineless idiot who gets their jollies from empty grandstanding to be a republican.
@JS-ol4dx
@JS-ol4dx Ай бұрын
Until you realize the people controlling congress also control 90% of the market, meaning they will still F you over, just in a more roundabout way because they cant make laws to directly influence things.
@Notrocketscience101
@Notrocketscience101 3 жыл бұрын
Thankfully Congress is here to protect us from those cooks in crypto. They should know a lot about it since they’ve made the 2021 dollar eventually worthless compared to the dollars my grandpa saved. Isn’t taking 99% of his dollars through inflation a bad thing? “hey we aren’t crooks! He still has 1%”
@jakegarrett8109
@jakegarrett8109 3 жыл бұрын
They'll grab that last 1% with a death tax, just wait, you'll actually owe THEM money once grandpappy is dead. Then there mission will be mostly complete (well, then they'll have to add a carbon death tax where inheritors must pay for the carbon footprint damages of their family, or something like that, basically there will be no end to taxes)
@Notrocketscience101
@Notrocketscience101 3 жыл бұрын
@@jakegarrett8109 and they grabbed over 50% when you earned it with income, Social Security, property tax, gas tax, State income tax, so after they grab half they then grabbed 99% of the remaining 50%. And they’re worried about protecting us from crypto? LOL!
@XJWill1
@XJWill1 3 жыл бұрын
They aren't crooks. They're "cooks".
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@droptozro
@droptozro 3 жыл бұрын
2:56 "UP and down up and down.... while the dollar only goes down" THANK you! I tell this to everyone! Why am I still forced to work for government dollars that are always devaluing?!?!? I'd rather work for cryptocurrencies and abandon the dollar if I could.
@russetwolf13
@russetwolf13 2 жыл бұрын
Because they devalue at a controlled rate due to the government printing more dollars, you know so the economy doesn't collapse when 1% of the population has too much of the money. Crypto vasilates between being worthless and worth millions on the basis of what Elon Musk tweets. Real money can't go up in value because it's a Currency, not a trading card.
@russetwolf13
@russetwolf13 2 жыл бұрын
@wont-sight3 no shit, Sherlock, I just said that. And yes, all crypto is the same, stapling it to gold changes nothing because gold is the same scam. It's shitty metal with barely any practical value with an overinflated market value. Tying crypto to gold just makes it more the scam it always was, while also pulling in all those precious metal scammers.
@sovietunion7643
@sovietunion7643 Жыл бұрын
would you still work for crypto now?
@raymondchristian391
@raymondchristian391 2 жыл бұрын
*GOOD VIDEO; EVERYONE NEEDS MORE THAN THEIR BASIC SALARY TO BE FINANCIALLY SECURED, THE BEST THING TO DO WITH YOUR MONEY IS TO INVEST, MONEY LEFT IN SAVINGS ALWAYS END UP USED WITH NO RETURNS,*
@melissabrockman6397
@melissabrockman6397 2 жыл бұрын
I totally agree with you, the Crypto market is the most profitable venture I ever invest in.,
@melissabrockman6397
@melissabrockman6397 2 жыл бұрын
I reached my goal of $500k yearly trade earnings.Setting realistic goals is an essential part of trading.,
@georgeedward6246
@georgeedward6246 2 жыл бұрын
most intelligent words I've heard,
@georgeedward6246
@georgeedward6246 2 жыл бұрын
Crypto is the new gold,
@georgeedward6246
@georgeedward6246 2 жыл бұрын
I'm a huge fan of crypto, I hold some few coins in my wallet.
@theslimeylimey
@theslimeylimey 3 жыл бұрын
When you buy something with bitcoin at a maintream business it doesn't mean the good or service is being traded for bitcoin. All that is happening is the business is acting as a middleman for a foreign exchange service at the point of sale and commerce is still done in USD.
@mmmddd4366
@mmmddd4366 3 жыл бұрын
Yup👍
@KerbalFacile
@KerbalFacile 3 жыл бұрын
Not in the grey and black markets.
@mmmddd4366
@mmmddd4366 3 жыл бұрын
@@KerbalFacile great idea to do black market operations on a non anonymous currency. Is there a way to FULLY anonymously own and transact in any crypto? (If you mine it you have an IP, if you buy it VISA has a log, if you used a phone it has a record.....)
@pinkside692
@pinkside692 3 жыл бұрын
@@mmmddd4366 Monero
@mmmddd4366
@mmmddd4366 3 жыл бұрын
@@pinkside692 how does one obtain monero anonymously And transact in monero anonymously with an anonymous device? Step me through this if you don't mind. (I will buy crypto once this can be achieved)
@dimaadamov8501
@dimaadamov8501 3 жыл бұрын
- What threats or benefits to a blockchain system will come from quantum computing? - That's a weirdly good question. - Well, we'll see what happens there. - That's a weirdly bad answer. I'm dying here...
@yonib59
@yonib59 3 жыл бұрын
Imagine letting boomers decide how to regulate crypto without knowing what crypto is, oHh wait no need to imagine
@FifthConcerto
@FifthConcerto 3 жыл бұрын
Every government official, whether elected or appointed should hold that position only as a part-time job. I don't care if that person has another job or not - though doing honest work would be beneficial for such a person - but having full time government officials is clearly damaging on balance.
@ColinTherac117
@ColinTherac117 3 жыл бұрын
Technically, being in congress is already designed to be a part time job. Meaning full time only part of the year instead of 3 days per week the whole year. This was because most everybody were farmers and had to be back home to deal with their farms and not in Washington DC during harvest etc.
@jdroofcleanpw
@jdroofcleanpw 3 жыл бұрын
If we could somehow make this happen, it would definitely backfire, because there's no way the people in power are going to take a pay cut. Heck, they still pay themselves when they do a government shutdown.
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@Graeme_Lastname
@Graeme_Lastname 3 жыл бұрын
Honest? Work? What planet are you from?
@balangas3910
@balangas3910 3 жыл бұрын
In Switzerland the national assembly members are all part time. They get a compensation of 450 fr for attending a hearing in Bern and a 30k fr compensation for their office expenses like a part time secretary and rent. That's it. It might seem a lot for other countries' standards but 30k a year isn't a liveable income here. The only fully time politicians are the federal council and they get paid a hefty 450k fr a year but that's only 7 people and the salary is this high to prevent corruption and they must be confirmed every year by the national assembly to continue.
@notthefbi7932
@notthefbi7932 3 жыл бұрын
My coke dealer doesn't accept Venmo😂😂😂😂 You guy's "hit it out the park" again with this video 😉 Wearing a mask on a video conference call, just says it all 🤪
@brianb8769
@brianb8769 3 жыл бұрын
"Baseball ⚾"
@bryanboone7363
@bryanboone7363 3 жыл бұрын
The auto generated closed captioning changed it to "coat dealer".
@Barskor1
@Barskor1 3 жыл бұрын
@@bryanboone7363 The market in unregulated coats is HUGE!!!!!
@bryanboone7363
@bryanboone7363 3 жыл бұрын
@@Barskor1 I have some bootleg panchos in the truck of my car. Meet me in the alley in 5 minutes.
@EF-69
@EF-69 3 жыл бұрын
I love the White House pictures, Pres & company sitting around the huge table, at least 10 feet apart, knowing they're all vaccinated, but they have their giant masks on.
@TonyOlsenFerris
@TonyOlsenFerris 3 жыл бұрын
This is BOTH comic gold AND educational! You guys are geniuses and I look forward to each release! Thank you! :-) Classics like "Libertarian Christmas" and "Libertarian 007" are a permanent part my family's library. Keep em' coming! :-) #FreedomHaven
@jamesdc9595
@jamesdc9595 3 жыл бұрын
To quote Darth Tyrannis, I’ve been looking forward to this
@seanfager8063
@seanfager8063 3 жыл бұрын
03:00 I read The Handmaid's Tale about 20 years ago, and the only thing I remember is that half the people are overtly enslaved because their financial access is controlled by the state, so they can be financially unpersonned overnight. By my reading it was pro decentralized currency.
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better!
@uppityglivestockian
@uppityglivestockian 2 жыл бұрын
Congresscritter: "The lack of clarity is very clear" Heaton: Me: 💀
@brandonk8948
@brandonk8948 2 жыл бұрын
We need these, it's like incredibly educational satire and is needed in all colleges. NOW
@bedlambreakfast5548
@bedlambreakfast5548 3 жыл бұрын
Wait.... I'm still stuck on the fact that one of them asked about quantum computing. That IS a weirdly good question. The best bet WOULD be to do nothing. Let's do that.
@andykratoska5791
@andykratoska5791 2 жыл бұрын
Easily the best part of the video was that whole interchange 🤣🤣🤣
@rascob3603
@rascob3603 3 жыл бұрын
These are my favourite videos.
@WowRixter
@WowRixter 3 жыл бұрын
That was priceless. Well done
@1425363878
@1425363878 3 жыл бұрын
THE LACK OF CLARITY IS CLEAR! Aw, true words, spoken in jest.
@armadillolover99
@armadillolover99 3 жыл бұрын
The answer to the title is “nothing”, because it’s none of the government’s business
@sabrinatscha2554
@sabrinatscha2554 3 жыл бұрын
“A government controlled by two big political parties” they’re the same party.
@truthseeker1651
@truthseeker1651 3 жыл бұрын
Saint Inu token is a certified hood classic it's an easy x1000 gem 💎 get rich while helping poor people live better lives!
@AlecMuller
@AlecMuller 3 жыл бұрын
I'll happily vote for a politician (from any party) who hasn't taken money from banks, top-100 Tech, or pharma in the last 10 years. Those people do exist, right?
@mrosengren4130
@mrosengren4130 3 жыл бұрын
@@AlecMuller Nope. To get to the big stage, they need big money.
@viperstriker4728
@viperstriker4728 3 жыл бұрын
@@AlecMuller Well we can cut out the middleman and just have pharma and google execs run for congress? The banks are already on board with this plan as they have been running the federal reserve this way for years to show how well it can work.....
@gadflyofhumanity_6847
@gadflyofhumanity_6847 2 жыл бұрын
THIS!!!!!1111
@matthewphares4588
@matthewphares4588 2 жыл бұрын
“Your buying $100 sandwiches.” Politicians can’t do math.
@SuperKirezi
@SuperKirezi 3 жыл бұрын
Perfect; just perfect 🤣🤣🤣 You guys deserve a TV show.
@seanfager8063
@seanfager8063 3 жыл бұрын
Might be worth checking out one of the podcasts Andrew Heaton does, Political Orphanage, Losers Pretenders and Scoundrels, Alienating the Audience, or Friday Release Valve.
@SuperKirezi
@SuperKirezi 3 жыл бұрын
@@seanfager8063 thanks, I am going to check it out.
@Jaxawesome22
@Jaxawesome22 3 жыл бұрын
Listening to politicians talk about crypto gives me some serious anxiety. At least the one guy said "I hope we do nothing", a glimmer of hope
@KalonOrdona2
@KalonOrdona2 3 жыл бұрын
There was probably more to that sentence, don't get your hopes up :p
@Jaxawesome22
@Jaxawesome22 3 жыл бұрын
@@KalonOrdona2 even if it was a brief moment of sanity, I expect it to be the last
@ericnelius9062
@ericnelius9062 2 жыл бұрын
To answer the quantum computing question at 1:10 : Quantum computing will make it easy to spoof a Blockchain ledger by performing a 51% attack, thus rendering cryptocurrency completely useless/worthless.
@sharpshooter488
@sharpshooter488 3 жыл бұрын
Amazing video as always
@hawnsl100
@hawnsl100 3 жыл бұрын
This is the new format for all news.
@ubersham
@ubersham 3 жыл бұрын
How many hours upon hours of footage did you have to watch to compile these gems?
@FUNshoot
@FUNshoot Жыл бұрын
I'm undecided about which is my favorite comedy: uninformed elected officials debating tech or firearms.
@MrDavidfuchser
@MrDavidfuchser 3 жыл бұрын
Nice format. Do more of these. NOW!
@tobytheboston6754
@tobytheboston6754 3 жыл бұрын
Once again absolutely brilliant video.
@RevoltingPeasant123
@RevoltingPeasant123 3 жыл бұрын
1:25 Andrew’s face after that comment killed me.
@synthetichumangaming4634
@synthetichumangaming4634 2 жыл бұрын
"Congress should not be dumb enough-" *"They are"*
@papal1500
@papal1500 3 жыл бұрын
1:07 Gets me everytime 🤣🤣🤣
@robertmurillo7153
@robertmurillo7153 3 жыл бұрын
You guys killed it! Very funny
@Andrew-be6eh
@Andrew-be6eh 2 жыл бұрын
Really surprised to see SBF in this
@gizmofire
@gizmofire 3 жыл бұрын
These always make my day
@piougar
@piougar 3 жыл бұрын
it's 3.5% in cali the cc takes from the store or the customer.
@Andrew-ep4kw
@Andrew-ep4kw 2 жыл бұрын
"well my coke dealer doesn't accept Venmo" great line! A black markets is a really interesting example of a completely free market squeezed by unique conditions.
@Crandaddy81
@Crandaddy81 3 жыл бұрын
This is scary. I'm afraid they might ruin cryptocurrency.. 😨
@FourthRoot
@FourthRoot 3 жыл бұрын
Unless they outlaw math that can't happen.
@Barskor1
@Barskor1 3 жыл бұрын
@@FourthRoot Have you heard about common core? They are outlawing math.
@FourthRoot
@FourthRoot 3 жыл бұрын
@@Barskor1 No, they're just failing to teach it.
@aidanmagill6769
@aidanmagill6769 3 жыл бұрын
Most crypto, yeah. Not Bitcoin. Unless they find out who Satoshi is. I guess the NSA could hypothetically do that.
@Barskor1
@Barskor1 3 жыл бұрын
@@FourthRoot .......And when they make Common Core the law......2+2=5 now go and math that.
@Djarms67
@Djarms67 3 жыл бұрын
That not true this at least the second hearing on bitcoin. The first was about the discovery of bitcoin.
@Shiro128b
@Shiro128b 3 жыл бұрын
Government is never the answer.
@supervillainJ
@supervillainJ 3 жыл бұрын
This is brilliant.
@uppityglivestockian
@uppityglivestockian 2 жыл бұрын
Timcast IRL sent me. I tried finding a channel called Political Orphans but maybe I heard it wrong. Anyway, a new fan of Heaton and his crew. I'm already a fan of Remy and the Law of Unintended Consequences series. MOAR, please. Liked / subd / bell'd.
@notme222
@notme222 2 жыл бұрын
The Political Orphanage is Heaton's podcast. I don't think he puts it up on KZbin, though he does have his own channel with some older stuff. On the podcast he frequently has guests, but I think the ones where he's alone are among the best. My recommendation to start is checking out his Jan 20, 2022 episode on homelessness and housing. Really detailed (also funny) and a good thing to play to people who assume Libertarian = "don't care".
@uppityglivestockian
@uppityglivestockian 2 жыл бұрын
@@notme222 Gracias.
@billvigus3719
@billvigus3719 3 жыл бұрын
A Christmas present to us all. Merry Christmas Reason!
@TheShiold123456
@TheShiold123456 3 жыл бұрын
Holy shit. This is hilarious. 100$ sandwich!!!
@joshuakarr-BibleMan
@joshuakarr-BibleMan Жыл бұрын
Good meeting, fellas.
@dipunm
@dipunm 3 жыл бұрын
It goes up and down and up and down, while the dollar only goes down 🔥🔥🔥
@idriwzrd
@idriwzrd 2 жыл бұрын
Heaton and 'also here' Bragg knock another one out of the park.
@317southpaw
@317southpaw 3 жыл бұрын
Amen!
@douglasbell8833
@douglasbell8833 3 жыл бұрын
Great video thank you.
@vesstig
@vesstig 2 жыл бұрын
I got so pissed drunk last night I put all my dollars into BTC and didnt realize it for 2 days, the future is alcohol and Crypto
@philiplavery03
@philiplavery03 3 жыл бұрын
Was that one guy wearing a mask while he was on zoom?? 😂
@Osprey78
@Osprey78 3 жыл бұрын
Why was that guy on VIDEO wearing a mask....alone....on a remote video call?
@davidhooper259
@davidhooper259 3 жыл бұрын
I thought I had a pretty good handle on blockchain and hash graph and cryptocurrency technology but now I’m confused
@JohnnyUtah488
@JohnnyUtah488 3 жыл бұрын
Basically, they can't stand the idea of anybody doing anything without their "wise guidance." But don't worry, it's for your safety. And the children.
@DH___
@DH___ 2 жыл бұрын
“My coke dealer doesn’t accept Venmo” 😂
@Atomsmasher-jf1cc
@Atomsmasher-jf1cc 3 жыл бұрын
0:49 "THE PATRIOT ACT" rofl
@Utred2012
@Utred2012 2 жыл бұрын
The piano music sounds like a cover of a vaguely familiar tune, but I am having difficulty placing what that tune is. Was almost thinking Eine Kleine Nachtmusik, but I don't think that that is right.
@norahajian8517
@norahajian8517 7 ай бұрын
The tune is Trisch-Trasch Polka by Strauss, but one usually hears it as an orchestral piece. Feels weird hearing it on piano.
@Utred2012
@Utred2012 7 ай бұрын
@@norahajian8517 Appreciate your willingness to answer a year-old comment.
@doughaug
@doughaug 3 жыл бұрын
This was great. And now I am totally befuddled (old-ageism) by it all. Still, congress is probably behind me on that.
@seanfager8063
@seanfager8063 3 жыл бұрын
I don't know if this will help, but I explain the whole cryptocurrency thing this way: Way, way, waaaaay back, we traded goods for other goods directly because there wasn't money yet." You give me half your deer meat, I'll give you half my berries and help you build a new door." That kind of thing. If I find a cool looking rock that's too big to move, I can tell everyone we know about it, and the thirty people in our tribe understand that that's my rock. Maybe if I really need something from you, I can "give you" that rock by telling all our neighbors that it's yours now, and I can trade ownership of it to you instead of literally handing you something. Modern cash money comes from trading near identical things, like small chunks of silver or specific types of shells, which evolved into trading deeds to the thing instead of the thing itself. Fiat is dangerous because it takes the idea of paper representing a piece of gold (or whatever) and says "everyone keep acting like this means something or we are all screwed" and hoping the system doesn't fall apart when the constraint of those deeds referring to an actual thing outside of themselves is removed. Crypto is a step back to saying "I own that awesome rock / cliff face / coral reef / funny looking tree", except you "own" a specific prime number, a unique thing, and computers tell each other you own it instead of you having to tell all your neighbors. Computers are great at tracking things like that, and talk to each other quickly, so it lets us scale up that idea that would only work in a real small group where everyone knows everyone else into an international thing. If I discover a new prime number (it's more complicated than that, but in depth not in kind) all the computers will mutter "Sean owns that prime number" constantly to each other, drown out anyone who says they own the number instead, and only change the tune when I start telling them (via my computer) that I gave it to Doug. Then everyone constantly mutters "Doug owns that prime number that Sean found" and it's yours to trade from that point forward.
@oakmars8062
@oakmars8062 3 жыл бұрын
The gov getting involved with crypto kinda defeats the point of it right ?
@JasonWester
@JasonWester 2 жыл бұрын
Hey! I finally know who that puffy hair kid is at 1:14 . I always wondered why he was talking to Congress...
@JP-vr7od
@JP-vr7od 3 жыл бұрын
This video is a masterpiece
@2wingssamebird314
@2wingssamebird314 3 жыл бұрын
Brilliant!
@Brehvon
@Brehvon 3 жыл бұрын
It had never occurred to me that future quantum computing power could be a potential problem...
@hubilhaqbinasrillah6394
@hubilhaqbinasrillah6394 3 жыл бұрын
"I think government is a joke" Oke joke is work 😂😂
@Yikker_C
@Yikker_C 3 жыл бұрын
Thank you for the good video, tell me how you think the audit from HashEx that they are currently conducting for free will be in demand or not?
@MyMathProfessor
@MyMathProfessor 3 жыл бұрын
Thanks for helping me to laugh! I really needed that. 🤣
@danielgriebling6123
@danielgriebling6123 2 жыл бұрын
Nicely done
@fortusvictus8297
@fortusvictus8297 3 жыл бұрын
lol, yeah, that quantum computing question is one I have been trying to get thru to my friends for years and the single reason I have never invested in crypto. Blockchain is most likely a very temporary technology...and WHEN it is spoofed/cracked no one will know about it till way (possibly years) after the fact.
@viperstriker4728
@viperstriker4728 3 жыл бұрын
If a quantum computer can crack block chain, just think what it will do to the financial infrastructure that is decades old with no means to update it and uses the predecessor encryption technology to handle transactions....... Theoretically physical asset are the only thing that won't get broken by quantum computer. But once we have them we can make new encryption based on the them so I wouldn't be too concerned. Heck just a few weeks ago a major java volubility was found. And if your like the average person , you could have won the lottery of getting hit with any zero day attack and getting your identity stolen. Point is diversify and don't think too much about meteors hitting earth.
@fortusvictus8297
@fortusvictus8297 3 жыл бұрын
@@viperstriker4728 That is why the biggest banks and even the Fed use a COBOL language that is crazy old and simple. Not even PASCAL, COBOL... That being said, encryption is an always evolving game of cat and mouse, that's not new, but what IS new is putting every egg in the basket of a single encryption protocol like blockchain. IF the encryption at your bank fails, it is bad but won't end your account...if the encryption of Blockchain fails, it will be quietly used for some time to end your entire account.
@viperstriker4728
@viperstriker4728 3 жыл бұрын
@@fortusvictus8297 The public key infrastructure that secures the internet is about as diverse as block chain. Since we are talking about the encryption the coding language doesn't matter. You login to your bank, then a quantum computer that intercepts the traffic at some point decrypts the packet then logs in with your password. If encryption doesn't adapt to quantum then we will have to go back to infra-net only as everything will be plain text as authenticating on an extra-net would impossible without PKI encryption.
@fortusvictus8297
@fortusvictus8297 3 жыл бұрын
@@viperstriker4728 perhaps I didn't communicate the point well, the issue with quantum computing and blockchain is the fact that when it becomes a thing (if it hasn't already) it will NOT be ubiquitous overnight. Whoever develops it will have a monopoly on the power for as long as they wish to keep it, or until someone steals the plans and gives it to another power kind of like the atomic bomb. It is in that gap where it all falls apart imo. The main banks use such a basic form of code because they can close it all off at any point for that reason, and the big money interests in the world will likely be among the first to have access to quantum computing for encryption/decryption before the rest of us even know its a thing.
@viperstriker4728
@viperstriker4728 2 жыл бұрын
@@fortusvictus8297 "because they can close it all off at any point" Are you suggesting that they would close of online banking? I don't think you realize how momentous a task it would be as basically all parts of the economy that don't use cash rely on encryption to some extent through the PKI infrastructure that is outside of the banks control. Proof of work used by bitcoin as far as I understand would get cracked by the same math as the PKI encryption. And if you crack PKI then you can impersonate anyone online covertly. I would say we already have our eggs in one basket. Though you make a good point about the financial institution getting counters up quicker. I will point out though that Ethereum was rolled back after a major account was breached, and is moving to proof of stake which doesn't need the encryption of proof of work. So I think some are immune to this issue already (though they have other issues as a trade of).
@robertseaman9968
@robertseaman9968 3 жыл бұрын
These make me happy, thank you lol
@JavierP3
@JavierP3 Жыл бұрын
A year later this is still funny, and the irony of this is extra after the FTX crash seeing SBF here as an expert.
@wealthyblackman2655
@wealthyblackman2655 Жыл бұрын
People need to understand that Crypto currency is actually an online Western Union money transfer type of business. There is not much money involved in the "Money transfer " business AND that is why Western Union is closing all locations in America. There exists a transfer fee in that business of about 5 dollars per transfer. Multiply that 5 dollars by millions of transfers globally and there are profits BUT once you subtract operation costs; employees, hardware, software, security, etc. Then not much profit is leftover. Crypto currency is basically like the "pay phone" scam that took place decades...
@OmegaTou
@OmegaTou 2 жыл бұрын
I wish the government would "do nothing" far more often, but I'll take the win when I can get it.
@MatthewELyons-yq7jd
@MatthewELyons-yq7jd 3 жыл бұрын
FINALLY....how wonderful and beautiful!!!
@jmvmike
@jmvmike 3 жыл бұрын
That was beautiful
@kahlernygard809
@kahlernygard809 3 жыл бұрын
Loved this one
@jasonmorello1374
@jasonmorello1374 3 жыл бұрын
They have no idea whhat they can do or are doing. I am simultaneously hopeful and scared to move.
@duzzitmatter8679
@duzzitmatter8679 3 жыл бұрын
Should’ve known that ANYTHING with Ms. Waters at the helm is going to be an automatic “Nope”.
@blurglide
@blurglide 3 жыл бұрын
Do you think they'll try to ban crypto, like they did with using gold as a currency?
@kovaulvirrin2453
@kovaulvirrin2453 3 жыл бұрын
I think it more likely the US will try to make it an unregulated security which would mean fines the SEC could collect and only accredited investors would be able to invest in it. Probably an attempt to ban self custody wallets.
@LukesPersonalChannel
@LukesPersonalChannel 3 жыл бұрын
Too late for that. We've already got Reps and Senators who keep pushing for looser and looser regulations on them as it is.
@donnashaffer7548
@donnashaffer7548 3 жыл бұрын
@donnashaffer7548
@donnashaffer7548 3 жыл бұрын
You can reach Jennifer on ͲeIєɠɾαm@Jenniferwilbur
@donnashaffer7548
@donnashaffer7548 3 жыл бұрын
>Orr What'sapp✙14432288232..
@Antonio-qj1qo
@Antonio-qj1qo 3 жыл бұрын
We can all learn a thing or two from Wilbur, her profit making skills is phenomenon. Thanks to her I'm making more profit and getting rich.
@isabelrabago1386
@isabelrabago1386 3 жыл бұрын
Jennifer taught me how to trade and recommended some good exchange with lesser fees. so yes if you are in for gains not just holding. i'd highly recommend Jennifer strategy. Life changing.
@sandranelson5063
@sandranelson5063 3 жыл бұрын
Wilbur is very sound in analysis and her service delivery is top notch. I am so grateful to her for her assistance which has made me a much better and profiting trader.
@Brian-zf8jl
@Brian-zf8jl 3 жыл бұрын
Please don't stop.
@homewall744
@homewall744 3 жыл бұрын
Regulate government!
@DJTrulin
@DJTrulin 2 жыл бұрын
The best actual argument against crypto 1:10 lol. Maybe we shouldn't entirely digitize the economy before seeing the limits of quantum cryptography.
@Mortalitor321
@Mortalitor321 Жыл бұрын
Sam Bankman LOL this fascinating looking back
@andykratoska5791
@andykratoska5791 5 ай бұрын
Watching SBF completely shit himself on the quantum computing question should have raised more red flags
@bikerjon8934
@bikerjon8934 2 жыл бұрын
brilliant!
@herbs4america
@herbs4america 3 жыл бұрын
My favorite was the $100 sandwiches. LOL
@whydoyougottahavthis
@whydoyougottahavthis 2 жыл бұрын
ily so much brotherz
@anonymousAJ
@anonymousAJ 2 жыл бұрын
What is a Bitcoin?
What Should Have Happened at the Big Tech Antitrust Hearing
6:40
Watch Crypto expert explain the Blockchain to Congress
5:56
CNET Highlights
Рет қаралды 4,9 МЛН
Mom Hack for Cooking Solo with a Little One! 🍳👶
00:15
5-Minute Crafts HOUSE
Рет қаралды 23 МЛН
Heaton Fixes the Student Debt Crisis
10:46
ReasonTV
Рет қаралды 86 М.
Is greed causing shrinkflation?
8:54
ReasonTV
Рет қаралды 65 М.
Stop Subsidizing Sports!
5:02
ReasonTV
Рет қаралды 127 М.
Democratic Disney vs. Republican Disney
6:12
ReasonTV
Рет қаралды 246 М.
What Should Have Happened at the GameStop Hearing
6:25
ReasonTV
Рет қаралды 153 М.
Andrew Heaton Investigates California's Massive Housing Crisis
12:28
Pacific Legal Foundation
Рет қаралды 43 М.
We Read Hillary's Book So You Don't Have To
4:38
ReasonTV
Рет қаралды 689 М.
Everyone You Love Did Drugs
6:30
ReasonTV
Рет қаралды 103 М.
Game of Thrones: Libertarian Edition
5:59
ReasonTV
Рет қаралды 2,6 МЛН
Mom Hack for Cooking Solo with a Little One! 🍳👶
00:15
5-Minute Crafts HOUSE
Рет қаралды 23 МЛН