I work at a bank and Atrioc actually missed an important part of FDIC insurance. Its 250,000 per account type per person. So if you have 250k in checking and 250k in savings, you're covered for 500k. This also stacks with spouse. So a married couple with 500k in checking is covered for the full 500k. FDIC insurance is meant to protect consumers, it's not really designed to protect assets on a commercial scale.
I mean yeah sure, but the point was that you have a guarantee to getting money back in a bank unlike crypto. The details aren't really that important to make the point.
Don't think he missed anything. It was pretty clear to me it was to protect consumers, etc. This is just getting into detail that wasn't necessary for the video, but interesting nonetheless :)
Thanks man, it’s crazy I was actually wondering today what the benefits/costs of shared accounts are, and at least in terms of federal banking insurance you provided a lot 👍
I get what you mean. But the people saying that are 60 to 80 year old fund managers and slimy speculators. To them 'The Wonder Kid' is the final piece in the puzzle that annihilates the public trust in community driven crypto in favor of government run fake "blockchain" crypto-coin. I'm positive at this point it's deliberately setup against the public to destroy any possible opportunity for a competitor to the USD.
@@wiirkirbys6981 they were calling him a wonder kid though I'm pretty sure, like they're both things. Didnt know wunderkind meant prodigy though I thought it meant amazing or something so good to know anyway!
except in how many people it hurts and the massive compilations of human interaction, art and creations that are inadequately archived or have any sort of replacement for the few positive roles they have in our society.
@@Buerba youtube just ate my long as fuck comment. It has unintended effects that are worse than the good it does. When corrupt unions were taken down, when churches were coopted in the 90’s and church attendance slowly cratered. Nothing replaced these social institutions and their ersatz goods had no power. When acquaintances left Facebook without even a thought that people didn’t have their phone number email or forwarding address. If Twitter deletes adult content, or dies itself without most of it being archived and without any sort of replacement it’s just another way we are fractured, and churning through our history without a thought to the aftermath. It’s not like when people left Facebook they joined clubs or groups IRL, they just stopped having social interactions with the circle they had. The algorithm is toxic but because these are companies at the behest of madmen and investors we throw the baby out with the bathwater, and the baby is the bedrock of social contact for many. This is way less eloquent than my last one but, yay for the rich getting there’s. But almost always they get a golden parachute and are better off than most ever were, and the rest get hurt and unreported. And when that’s also the basis of our history, discourse and social contact (as toxic as twitter is, I hardly ever used it) and there’s no replacements anymore, that’s pretty bad. Edit: It wasn’t fun during the Reformation, or when the corrupt Roman Republic got owned by Caesar man of the people to be replaced by Empire. It wasn’t fun when the Soviet Union fell, for anyone there and it’s not like we still don’t have all the baggage from it’s history still hanging as albatrosses- we still have ridiculous military spending and arguably less social safety net cause the world doesn’t have to compare us to another system of equal power. Just cause the bad goes away doesn’t mean we get anything better, nor that the bad doesn’t define who we are and where our ideas come from.
As someone who doesn't know a thing about anything of markets, stocks, crypto etc. this is unironically eloquently worded and represented that even a 12 year old could understand. thank you baetrioc
@@Seruphin Yeah, it really helped put into perspective why cryptocurrencies crash so suddenly. It’s not just that people make a rug pull before things crash but that the rug pull (or even just a prominent investor pulling out) causes an even more vicious crash by flooding the market. For some reason, that didn’t register with me before, but it makes perfect sense.
Just imagine getting $20 million and then wanted MORE for whatever reason. So then you start a super risky company and then end up going to jail. Just baffles me
you literally only say this cause ur poor as fuck but if u actually cashed out 20m at 30 and had opportunities to turn M into B youd take it. you are only humbled rn cause ur broke and 20m seems like alot.
@@maddymaddyval Sometimes you just see your chance to do something more. There are people who have a hard time not going for things that are "possible".
Definitely on the top of his game with a huge amount of space for growth, been so impressed with his content esp after the career changes Atrioc stock soaring
Literally when I saw that ad on the super bowl I thought to myself “wouldn’t it be ironic if this fails and the whole commercial becomes about Larry David making a great comeback in financial choices
CZ is legitimately terrifying, but hilarious. He saw the opportunity to destroy SBF and instantly jumped on it - then bought him out afterwards just to rub it in.
I just realised something, TSM has all their brand and all their creators as TSM-FTX, and now they won't allow you to change Twitter names if verified, they're stuck with the name now
brother.. a twitter handle is the least of their worries. they are literally sponsored and branding a company that is dead in the water. their funding and image is GG. its like your house is burning down and you are thinking about if you left the bathroom light on. shit is irrelevant, the bathroom doesnt even exist anymore.
Atrioc this is genuinely the most thurough and understandable video on this topic I have seen. You get a lot of credits for your funnies, but your ability to make things understandable to anyone is so good people don't even notice it
Funny story abt Sam I staffed for a science bowl tournament that he was the main sponsor of (paid 25 an hour). SBF developed a special point scoring software that crashed immediately, gave a thirty minute long speech at the opening meeting that made no sense at all, and made the TOs add a new category called “longtermism” to the games that the top teams in the nation couldn’t get. So now I can say I had a connection with the new Elizabeth Holmes lol
He's an incredibly awkward megalomaniac. I work at an elite American University and have a colleague who's been a close friend of his since college. Smart woman, but she and her husband put A LOT of money into FTX after some convincing involving a week-long trip to the Bahamas to stay at his penthouse. Dude is a scumbag and it's delicious to see him go down.
Of the many different youtube vids uploaded recently about this issue, yours hits the best balance between informativeness and comedy. That's why I trust Big A and unthinkingly follow whatever advice he tells me. My streamer Pog
I hated the ads so much. It basically compared nfts and crypto with life changing inventions and called anyone with half a brain stupid for thinking it’s terrible idea. Its the only ad I’ve seen try gaslight it’s viewers. So infuriating especially when it obviously came down crashing
Because teachers get paid like dirt (in the US). If schoolteachers made similar salaries to Atrioc's income, there'd be a LOT more talent pursuing teaching as a career.
Thanks for telling me to invest in crypto Big A! I've sold my house, my car, I've lost my wife and the bank keeps calling me, but I know that it'll all pull through!
This is exactly why we can't have nice things. Everything turns into a Ponzi scheme or outsourced labor and there's never any consequences for the people doing it.
Just a heads up, I think the Binance story was pulled by bloomberg. BUSD is not a Binance issued token but one that is developed by Paxos and approved by New York State Department of Financial Services. Not an exchange token like FTT
Never ever put any coins on any exchange unless you plan to sell it right then. There is a saying “not your keys… not your wallet” invest in a hardware wallet or better yet buy a thumb drive to store coins. Exchanges can be hacked, exit scammed or seized. It’s a lot harder to take my coins when they are in my hand.
FTX ads always felt off like something wasn't honest when other companies like binance and stuff didn't give me the same feeling when watching their ads, Yes Atrioc.
So, Larry David in the commercial said he didn't think it would be the next big thing and opted to not get involved, claiming he's never wrong about these things. The commercial implies he is wrong. Does anyone else find it hilarious that commercial Larry was right? I have to wonder, was he paid to be in the commercial but refused to say he backs it just in case FTX fails in the way it did?
I love this videos bro, and marketing Monday is what made me get interested in marketing and pick it as a career even though my degree is completely unrelated
Thanks a lot for covering this. I hold some of my savings on binance too, I might reconsider things. Last time I wanted to pay out to my bank account, they said I needed identity verification for that, I tried to complete that, but it failed.. and now I'd have to make another one. Which probably takes some time.. this is a mess
That’s really suspect. I wonder if they are engaging in fuckery to keep themselves from sinking or having a run like FTX. You just can’t rule it out with these people anymore. Good luck, bro!
@@s871-c1q Thanks! Shortly after I wrote my comment, I tried again, and it seemed like the process was easy now. They also approved a few hours after, and I could send my funds to my bank. Not sure what was up or failed the first time, but glad that everything went smoothly now.
![WE GOT ACCESS TO GPT-3! [Epic Special Edition]](/img/n.gif)
I work at a bank and Atrioc actually missed an important part of FDIC insurance. Its 250,000 per account type per person. So if you have 250k in checking and 250k in savings, you're covered for 500k. This also stacks with spouse. So a married couple with 500k in checking is covered for the full 500k. FDIC insurance is meant to protect consumers, it's not really designed to protect assets on a commercial scale.
What if I marry two people, can I get 750k insured?
@@stirling3523 i think it stacks at other banks, so just have accounts at multiple
I mean yeah sure, but the point was that you have a guarantee to getting money back in a bank unlike crypto. The details aren't really that important to make the point.
Don't think he missed anything. It was pretty clear to me it was to protect consumers, etc.
This is just getting into detail that wasn't necessary for the video, but interesting nonetheless :)
Thanks man, it’s crazy I was actually wondering today what the benefits/costs of shared accounts are, and at least in terms of federal banking insurance you provided a lot 👍
Imagine being a 30 year old man and people call you 'The Wonder Kid'
tbf 30 is pretty young to be a billionaire. So much younger than all the other billionaires that some might say he's like a "kid" compared to them.
I get what you mean. But the people saying that are 60 to 80 year old fund managers and slimy speculators. To them 'The Wonder Kid' is the final piece in the puzzle that annihilates the public trust in community driven crypto in favor of government run fake "blockchain" crypto-coin. I'm positive at this point it's deliberately setup against the public to destroy any possible opportunity for a competitor to the USD.
Not “Wonder Kid”, “Wunderkind”. It’s basically a German term for a prodigy (though as a fun note it does translate literally as wonder child).
@@wiirkirbys6981 they were calling him a wonder kid though I'm pretty sure, like they're both things. Didnt know wunderkind meant prodigy though I thought it meant amazing or something so good to know anyway!
atrioc the 29 year old coffee kid
The last month has been the best for just watching companies burn down.
except in how many people it hurts and the massive compilations of human interaction, art and creations that are inadequately archived or have any sort of replacement for the few positive roles they have in our society.
@@Souledex i mean, yeah, but it was fun man
I record food reviews while I’m high off that zaza on my UA-cam chännęl lol 💯
@@Souledex I don’t care about any of that because I am a psychopath
@@Buerba youtube just ate my long as fuck comment.
It has unintended effects that are worse than the good it does. When corrupt unions were taken down, when churches were coopted in the 90’s and church attendance slowly cratered. Nothing replaced these social institutions and their ersatz goods had no power.
When acquaintances left Facebook without even a thought that people didn’t have their phone number email or forwarding address. If Twitter deletes adult content, or dies itself without most of it being archived and without any sort of replacement it’s just another way we are fractured, and churning through our history without a thought to the aftermath. It’s not like when people left Facebook they joined clubs or groups IRL, they just stopped having social interactions with the circle they had. The algorithm is toxic but because these are companies at the behest of madmen and investors we throw the baby out with the bathwater, and the baby is the bedrock of social contact for many.
This is way less eloquent than my last one but, yay for the rich getting there’s. But almost always they get a golden parachute and are better off than most ever were, and the rest get hurt and unreported. And when that’s also the basis of our history, discourse and social contact (as toxic as twitter is, I hardly ever used it) and there’s no replacements anymore, that’s pretty bad.
Edit: It wasn’t fun during the Reformation, or when the corrupt Roman Republic got owned by Caesar man of the people to be replaced by Empire. It wasn’t fun when the Soviet Union fell, for anyone there and it’s not like we still don’t have all the baggage from it’s history still hanging as albatrosses- we still have ridiculous military spending and arguably less social safety net cause the world doesn’t have to compare us to another system of equal power.
Just cause the bad goes away doesn’t mean we get anything better, nor that the bad doesn’t define who we are and where our ideas come from.
As much as my heart goes out to the victims, how tf do you trust your money with someone with the last name Bankman
the bank man sure got fried
Kojima, you’ve done it again
it’s such a comical name straight outta Jack Kirby
Driven in debt by a radioactive bank, he is now Bankman
curb your antisemitism
The thing about Atrioc is, he has the personality of many entertaining streamers but he provides actual useful value to you..
The fact he's wearing an Enron hat too. There's depth to this.
Yeah Atrioc’s pretty unique! Really glad I found him
Facts, I'm getting entertainment, but I also end up learning a pretty decent amount
He is one of like 3 youtubers I consistently watch because of this.
mogul mail = ludwig personality making atrioc content
atrioc = atrioc content using a ludwig personality
As someone who doesn't know a thing about anything of markets, stocks, crypto etc. this is unironically eloquently worded and represented that even a 12 year old could understand. thank you baetrioc
The charizard holographic comparison actually helped me understand it haha
shocking that this is my first spotting of baetrioc
@@Seruphin Me too, I heard about FTT but the Charizard analogy made the connection easier.
@@Seruphin Yeah, it really helped put into perspective why cryptocurrencies crash so suddenly. It’s not just that people make a rug pull before things crash but that the rug pull (or even just a prominent investor pulling out) causes an even more vicious crash by flooding the market. For some reason, that didn’t register with me before, but it makes perfect sense.
Me at a family wedding: 🧍♂️
Me at crypto's downfall: 🤵♂
Holy shit they simulated the Great Depression
He was a generous billionaire he lost billions and went to jail just to simulate it for Economic majors. What a hero.
lol
just an Enron moment 🥶
Just imagine getting $20 million and then wanted MORE for whatever reason. So then you start a super risky company and then end up going to jail. Just baffles me
you literally only say this cause ur poor as fuck but if u actually cashed out 20m at 30 and had opportunities to turn M into B youd take it. you are only humbled rn cause ur broke and 20m seems like alot.
Billion
@@Thisisthegreatestatofalltime no he got 20 million then started the company
I would just honestly end at 20 million and retire bro
@@maddymaddyval Sometimes you just see your chance to do something more. There are people who have a hard time not going for things that are "possible".
He’s about to have a lot more roommates
And a lot more sex. 😉👌😂
Don’t drop the soap! 😳
6 people to a cell at his new home..
Bro your killin it lately please don’t stop
Definitely on the top of his game with a huge amount of space for growth, been so impressed with his content esp after the career changes
Atrioc stock soaring
That's what she said last night 😏
@@saucefor7461 I fuckin wish 😞
@@darkassassin6457 Sadge
exactly, it's like someone robbing the bank and they just find a bunch of Charizard's in the vault
Sounds like good money. Or maybe enough gule to build a house with it.
cant wait for the FTX hats!!!
0:23 Sam is staring at the camera like he just saw someone fart on his favorite gaming chair.
This caused my brain to slow down
@@karlaloompa thanks for stopping by
Literally when I saw that ad on the super bowl I thought to myself “wouldn’t it be ironic if this fails and the whole commercial becomes about Larry David making a great comeback in financial choices
Time for Atrioc to get a FTX hat 🙃
in 10 years that hat will probably get You spit on xD at least an angry look
Time for us to get a FTX hat as an Atrioc Merch drop 😆!
@@MindBlowerWTF At least in Miami
HE DID IN HIS LATEST VOD
CZ is legitimately terrifying, but hilarious. He saw the opportunity to destroy SBF and instantly jumped on it - then bought him out afterwards just to rub it in.
he didnt tho, thought he pulled out after seeing how far gone FTX is.
No one wants to pay a $1 for millions/billions in debt liability.
Short sighted though. This will probably cost him billions.
Literally better to expose sbf and ftx now than have a even bigger problem to deal with years down the line
@@b.t4604 did you see the part of the video, where Binance is doing the same exact thing as FTX?
I genuinely appreciate how Atrioc just translates Matt Levine and Scott Galloway for teenagers
I just realised something, TSM has all their brand and all their creators as TSM-FTX, and now they won't allow you to change Twitter names if verified, they're stuck with the name now
Let hope they can find some more 8 dollars to verify new names lol. Qtcinderella exit just in time too lol.
brother.. a twitter handle is the least of their worries. they are literally sponsored and branding a company that is dead in the water. their funding and image is GG. its like your house is burning down and you are thinking about if you left the bathroom light on. shit is irrelevant, the bathroom doesnt even exist anymore.
@@newp0rt brother, this is a humorous observation of a situation, not something meant to be thought of more than a chuckle
Atrioc this is genuinely the most thurough and understandable video on this topic I have seen. You get a lot of credits for your funnies, but your ability to make things understandable to anyone is so good people don't even notice it
Funny story abt Sam I staffed for a science bowl tournament that he was the main sponsor of (paid 25 an hour). SBF developed a special point scoring software that crashed immediately, gave a thirty minute long speech at the opening meeting that made no sense at all, and made the TOs add a new category called “longtermism” to the games that the top teams in the nation couldn’t get. So now I can say I had a connection with the new Elizabeth Holmes lol
He's an incredibly awkward megalomaniac. I work at an elite American University and have a colleague who's been a close friend of his since college. Smart woman, but she and her husband put A LOT of money into FTX after some convincing involving a week-long trip to the Bahamas to stay at his penthouse. Dude is a scumbag and it's delicious to see him go down.
Man really lost it all for a woman that looked like 19 and 52 at the same time 😭
Looks like Big Head from Silicon Valley
Sam is no looker either. Seriously... the two of them look like awkward, overgrown middle schoolers
And looks like his Mom….look it up.
Of the many different youtube vids uploaded recently about this issue, yours hits the best balance between informativeness and comedy. That's why I trust Big A and unthinkingly follow whatever advice he tells me. My streamer Pog
I hated the ads so much. It basically compared nfts and crypto with life changing inventions and called anyone with half a brain stupid for thinking it’s terrible idea. Its the only ad I’ve seen try gaslight it’s viewers. So infuriating especially when it obviously came down crashing
I’ve learned more about business bullshittery from Atrioc than from any public school ever. Why can’t teachers be entertaining like him
if teachers would "heh" after every two words, there would be more school shootings.
Schools doesn't accept teachers with glizzy hands unfortunately.
Because teachers get paid like dirt (in the US). If schoolteachers made similar salaries to Atrioc's income, there'd be a LOT more talent pursuing teaching as a career.
@@nedshneebly6811 Finally someone who realizes that public school teachers get paid shit. Insane what we lump on them for like 50k a year
because atrioc left out all the nuances and complicated stuff and critical thinking in order dumb it down for people like you to understand.
It warms my heart to see these scams fail so hard.
Same.
Wearing the Enron hat is especially fitting for this
watched this whole vid with the craziest hangover didnt get anything but like you speak with power, one love
I think the Enron hat gotta get restocked for this W
This is both ridiculously entertaining and very informative, I gotta watch this guy more
As soon as I heard he played league at work I knew we were dealing with pure evil.
Thanks for telling me to invest in crypto Big A! I've sold my house, my car, I've lost my wife and the bank keeps calling me, but I know that it'll all pull through!
remember, 90% of gamblers quit before they win big
LOST MY APE, HELP
Amateur, always sell the wife first.
dude i LOVE your outro song, it always have me bopping my head after an amazing video
FTX hats when?
Like an hour ago I finished all of coffezillas videos on this and ngl this situation is insane
This whole situation is like a mix between Fyre Festival and early 2000's Jordan Belfort
SAM HAS CRAZY HAIR! SAM IS NOW BROKE GOING TO PRISON!
God I love how funny Atriocs chat is so proud to be a loyal part of the glizzy gang!
glizzy gang rise up
This is exactly why we can't have nice things. Everything turns into a Ponzi scheme or outsourced labor and there's never any consequences for the people doing it.
Can’t wait for the new FTX 2 merch to drop on the channel
ur explanation with the holo charizard was great
i was looking forward to seeing you cover this
Just a heads up, I think the Binance story was pulled by bloomberg. BUSD is not a Binance issued token but one that is developed by Paxos and approved by New York State Department of Financial Services. Not an exchange token like FTT
Chat pogging at the idea of buying a holographic Charizard is the energy I live for
He’s only 30. He has years of fraud ahead of him. He’s just a kind young man.
Can’t wait for the Atrioc FTX hats to drop
I love that "The sting" scene at 2:08 in the video is showing as watched... if it wasn't I was gunna be mad.
Buffet is eating his special " I told you so" peanut brittle.
Can't wait until 5 years from now when the FTX 2 hat comes out
I give it a week before he’s “missing” or “found dead”
Fantastic breakdown, big A. Gonna share this with friends and family who aren't really sure what happened with FTX and Sam Bankman-Fried's grift.
Never ever put any coins on any exchange unless you plan to sell it right then. There is a saying “not your keys… not your wallet” invest in a hardware wallet or better yet buy a thumb drive to store coins. Exchanges can be hacked, exit scammed or seized. It’s a lot harder to take my coins when they are in my hand.
FTX ads always felt off like something wasn't honest when other companies like binance and stuff didn't give me the same feeling when watching their ads, Yes Atrioc.
it is mega hilarious to me that I remember that ad quite well and fondly, but NEVER associated it with FTX
Can't wait for atrioc to make an ftx hat in 20 years
I knew the 1.5x crypto explanation would be turned into a video ASAP
Hes such a generous billionaire, he gifted his money to the free market
Idk why it's so satisfying to watch corporate and finance crashinf down. Maybe cause I'm poor and this is soooo cathartic lmao
Finally, a worthy successor to Enron
This man really making me understand economic with Charizard the goat Big A
Bro you basicly just taught me how bank works that my pp size brain was able to comprehend it very easily, thanks a lot man
Atrioc - Keep your crypto in a trusted Secure source
Ludwig - SELL EVERYTHING THE INDUSTRY IS COLLAPSING
The end of Crypto. What a ride
Lol. You must be new here.
It is 100% not the end of crypto lmao
Man had 20 million and didn't think to stop there
This video makes so much more sense after watching the 6 part series on how modern money was created last night. Thanks big A
Imagine you are playing LOL in a meeting, talking about buying fake bananas, then getting 100s of millions. That's business
love this atrioc mail episode
I knew it was fraud all the way down, I just hadn't realized how on-the-dot that fraud was
the whole box thing sounded like grouping subprime mortgages with those of higher rating.
it's a 2008 recession speedrun.
Big A gonna be wearing a FTX hat now
Can’t wait to buy my FTX hat in ten years
i love quack putting persona music in the background
So, Larry David in the commercial said he didn't think it would be the next big thing and opted to not get involved, claiming he's never wrong about these things. The commercial implies he is wrong. Does anyone else find it hilarious that commercial Larry was right? I have to wonder, was he paid to be in the commercial but refused to say he backs it just in case FTX fails in the way it did?
Breaking news:
Bang Bros put an offer for the Arena name to replace FTX
The best win is that I won’t have to see FTX ads on my fortune cookies anymore
Big A has some of the best market analysis anywhere on yt
I stopped watching a memorial for the battle of the Somme to watch this glizzy gobbler classic
Looking forward to the new Atrioc merch
"this is a druglord with the surname Smuggler , i will now give him my life savings ." - An FTX user , probably
Can’t wait for FTX hats
Sometimes the crazy hair gives it away.
Bro the pokemon card example is literally how I learned that in school
If you turn the FTX symbol 90 degrees counter clockwise, you can see FTX’s assets decline to nothing over two days
I love this videos bro, and marketing Monday is what made me get interested in marketing and pick it as a career even though my degree is completely unrelated
TSM TSM TSM TSM TSM.
7:10 she went to fucking Berkeley or something this is INSANE 🤣
Lebron knew this would happen
I love watching Atrioc :)
Meta is like: "Oh there's some shady business going on, let's be part of it"
A small thank you to Atroic and the boys for doing their research on sponsorships because Im glad I used Coinbase and not FTX lol.
Can't wait for my FTX hat in like five years
Damn it Ethan!
love the content big A very cool seeing the face of an average fan of big A in the video too !! 6:55
Can't wait to buy my FTX hat
Will never stop jamming out to soda city funk
Thanks a lot for covering this. I hold some of my savings on binance too, I might reconsider things. Last time I wanted to pay out to my bank account, they said I needed identity verification for that, I tried to complete that, but it failed.. and now I'd have to make another one. Which probably takes some time.. this is a mess
That’s really suspect. I wonder if they are engaging in fuckery to keep themselves from sinking or having a run like FTX. You just can’t rule it out with these people anymore. Good luck, bro!
@@s871-c1q Thanks! Shortly after I wrote my comment, I tried again, and it seemed like the process was easy now. They also approved a few hours after, and I could send my funds to my bank. Not sure what was up or failed the first time, but glad that everything went smoothly now.
@@dreamisover9813 Great to hear!
Imagine investing in a classic ponzi set up and then get wiped out from your own self prescribe ignorance.
The FTX collapse won't be the last and it certainly won't be the biggest. There is still Tether.
Great video you had the best explanation I’ve seen yet.
Just moved everything I care about into my own wallet, Coinbase gave me some weirdo wrapped Eth that I took a haircut on to turn into the real thing
Yeah whats up with that, I just traded into bitcoin and eth2 had to wrap into cbeth some shit or whatever. What is that about?
@@millermichael so You did it and now you are asking about advice? huh