Crypto: will the bitcoin dream succeed?
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- Опубліковано 14 чер 2024
- Bitcoin and other cryptocurrencies set out to upend the financial order and replace conventional money. Bitcoin has certainly disrupted the global financial system, but can it ever live up to the hype?
Read our latest report on cryptocurrency: econ.st/3wnYfRr
Find The Economist’s latest finance and economics coverage: econ.st/3pCKsnp
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The competitive business of crypto mining: econ.st/3weTdq7
Why is mining bitcoin bad for the environment?: econ.st/3vaVykG
Read more about the environmental cost of bitcoin mining: econ.st/358sn73
How does finance view bitcoin?: econ.st/3g8V0ra
Will banks survive the transition to digital money?: econ.st/356ew1b
Read more about the rise of e-money: econ.st/3g7NLj6
The value of scarcity in bitcoin: econ.st/356YDYw
I wanna see this same video in 10 years time.....
If you live in a stable democracy with a stable financial system, Bitcoin might seem foolish and unnecessary. But for the billions of people who live under authoritarian regimes or don’t have access to global financial markets, it will be life changing.
Whats funny is that cash is used way more often to do illegal activities than cryptos, but I don't see anyone criticizing cash.
It’s about overall effect. Overall, Cash does more good than bad.
It’s not quite an apples-to-apples comparison because fiat currency has been around for centuries, while crypto currencies are relatively new. Therefore, comparing the number of alleged illicit transactions between the two doesn’t tell the whole story. Perhaps a more valuable discussion would be - which underlying framework is the most effective at stopping, or even flagging, illicit activities?
Exactly. Invest in btc
FUD
I am george!
Economist : Experts says this about bitcoin...
Also Economist : let's put only one person in experts from our own team
ikr, economist are a joke these days, so is most mainstream media tbh
Christmas lights use more energy than Bitcoin
Same speech as 2017 Bullrun. A good anti-signal.
The real bubble is Fiat Currency
Is volatile becuse is a 12 year old asset only.
That is easy to accept when the move is 200% per year.
also we don't want bankers to buy bitcoin anyways with someone else's money. We want the 99% to buy it before they do. So there is a massive massive wealth transfer back to people. This is good!
Already has succeeded...
2 major points of your video that I'd like to refute.
- The fact that criminality was funded through Bitcoin is moot. So much more criminality is funded through dollars and Bitcoin logs every transaction which makes it stupid to use as a criminal because it leaves a trace.
- Bitcoin is a crypto asset first. Not a cryptocurrency. It might grow into that later but not any time soon. Even if Bitcoin will never be a cryptocurrency it's still a much better asset than gold and yet it has only 1/8th of the value right now.
bitcoin may crash but blockchain technology will continue
Competition has always proved healthy.
Trust is a very important part of currency which is currently at an all time low
Thieves use a car to rob a bank...... Quick, BAN cars!
Wonder how much electricity our Banking Systems use in comparison to that of Bitcoin.. (Netherlands! So what..) do a better job in comparing apples to apples 🕵️
The Economist is a critic of Bitcoin? Shocking surprise.
Glad I read the comments so I won’t waste my time on the video!
Because economists stick with bank.. their bosses😄
I refuse to participate in the current financial system any longer
It already has...and it's only the beginning.
Sounds like Bitcoin got a lot of these financial institutions (leeches) shook
When online teenagers say your financial plan is good but no one qualified does. Must be hard to try and justify that.
I'm sure that every time you hop onto coinbank the big wigs at JP Morgan start shaking in their $5000 suits, champ.
Salty no-coiners. Beautiful to see. Still wondering what the hell is happening. Hilarious.
This piece misses the entire raison d'etre of Bitcoin (in my opinion) which is that it allows people who cannot afford to buy traditional investments like real estate the chance to store value in a form of money that is not going to be diluted over time by the central banks. It mentions nothing about the ingenious way that Bitcoin invented digital scarcity and digital value, which is essential for our now digital culture to evolve. It also mentions nothing about layer 2, 3 and 4 functions that are currently being built upon the Bitcoin blockchain, which amounts to nothing less than a parallel decentralized trustless and secure financial system that has a chance to narrow the wealth gap slightly, from the ridiculously inflated level it is at currently at, due to the traditional financial system that the Economist is trying to defend.
There will be winners and losers in the crypto market just like every other emerging market in history.
why is it that every time I buy a stock or cryptocurrency that's supposed to be a big hit it ends up dropping and just never moving again???
Very energy consuming and bad for the environment, you say? What about gold mining? How about banning gold mining because of the enviromental damage then drop its price so that it can be used in an affordable manner in electronics?
The banking system take lot more then bitcoin energy to mine. What a stupid fud!
How is it the the economist completely overlooks lightning as bitcoin transactional layer. It scales the transactions per second not the base settlement layer.
But we can see every transaction and will there forever so we can track the different payments and even stop illegal activity using Bitcoin
I think that they should have mentioned that even if bitcoin was gone tomorrow, the financial system will never be the same.
Bitcoin might not handle many transactions per second but the layer two of bitcoin (lighting network) is infinitely scalable so that point is irrelevant.
Thanks for the FUD
The volatility of Bitcoin is just temporary. Once the world accepts it and understand it, the volatility will be gone, just like gold.
Did Tulip bubble rise again after the crash? No!
This video was proudly sponsor by the government!
Can you make videos on CBDC? Also, on the economy of Pakistan, India, and Iran.
The FUD is strong in this one. Government and bank sponsored no doubt
Its not only btc they are scared of also defi project n nvt which mean we dont need a middel man to handle transaction and investment
Depending on one stream of income had never made any millionaire and earning check doesn't put you in Forbes
End product of crypto will be the same as the current financial system, just a more efficient and advanced one.
It's not a question if, it's a question when.
I think this is a very narrow view of BTC + crypto. You could have given both sides of the story instead of one.
yeah, journalists are just ignoring the views of Ponzi scam victims when it comes to their investments. We need both sides, I tell you.
Comparison with tulips? 0 out of 10 for originality!
Volatility decreases as engagement increases.
Took them a whole 8 minutes and 31 seconds to bring up the T-word ;)
I believe that wealth is an integral part of success, even though it should not be the main quantifier, it has a vital role to play.
This guy Deffo gonna buy Btc over 100k Lmao
Wow. Certainly no bias here in this video.
What a DARK SIDE of telling the story about Bitcoin. Sad to see how they demonize Bitcoin.
Moments, that's all we've got.
Consider the following:
a. Not everybody has the same internet connection speed.
b. Location matters: Take 3 entities, A, B and C. A and B are close together and C is very far away. The electronic transfer time between A and B would be short compared to A and C or B and C, relatively speaking. It's the same principal people utilize with Wall Street. Computers closer to Wall Street can have faster transfer speeds due to their location. High speed, high frequency trading can make one very rich relatively quickly. Also easier and quicker to manipulate markets.
c. But, with crypto currencies like bitcoin that are not centralized, not everybody would be on the same page so to speak. The reality each would be experiencing would be different for the same universal time.
d. In other words, reality still matters. There are those who will be 'screwed' and there will be those who are the 'screwees'. And if you are not 'screwing' someone else, guess which one you are.
Question: How exactly do crypto currencies like BitCoin exchange into US Dollars?
(For example, Monopoly money in the game of Monopoly has 'value' but basically only in the game of Monopoly. So, how to these crypto currencies with basically nothing backing them exchange for US Dollars?)
Nice FUD video. Bitcoin has been appreciating 200% per year for the last 13 years. How long will you sit on the sidelines. Better than gold, more secure, easier to access, deflationary. You are a fool to spend negative energy on this FUD. They even mention tulips and the mysterious creator. This is good shit lmao.
Considering the upside, it seems irresponsible not to own some bitcoin
If it’s green energie than so what that it need a lot?
why google inserted 5 commercials... in a 10 minutes video?
Not bad, but a pretty narrow view imo.
I'm that sceptic
Thank you
To be honest, the government and central banks wouldn’t like to lose their control right for the currency in the economy so that they give the obstacles to the cryptocurrency so far.
So if there is no obstacles by them, the price of cryptocurrency should be high and can get popularity among people.
Of course, in terms of stable, the volatility of the price is problem which we need to deal with from now on.
The coin bureau A brilliant channel ❤️
How exactly does one preserve wealth?
One thing is to attain wealth and another is to keep it.
It is even harder to keep wealth.
Bitcoin is the best cryptocurrency to invest in rises alot than others you should actually be wise to withdraw once it reaches a certain point I got double what I invested before the dip
Try and invest now that it's low though
Invest a little in everything
You invest
I just got into crypto trading and I made my first profit wish I knew about this earlier
I hope that Bitcoin's price will grow more and more every year. I will hold it in my Ownr wallet until it reaches at least 100k
Not one word on Tether! Shocking!
lmfao same FUD non sense for 5 plus years
The statement at 2:31 is incorrect; money is NOT simply a social convention
Good video. Ignored the simple fact that Bitcoin Cash BCH can do everything better than Bitcoin BTC. It's already scaled to 25k transactions per second and go for 1 million transactions soon!
Hahaha. Love the French dude.
Yes.
Will the pumpers and dumpers walk away with billions of dollars? Yes, absolutely.
I say Bubble!!
Digital currencies will only succeed when they are able to scale i.e. as more people desire to transact, the cost and time to perform a transaction remains the same instead of climbing exponentially. Noone has figured out how to do this quite yet.
People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in crypto currency
I have ideas for World economy
Given that a bitcoin currently cost $36,597, there are only enough bitcoins for every person to have $88.72 worth. If bitcoins were distributed using the current global distribution of wealth, 99.9% of people would have $16.87 worth of bitcoins, and people in the top .001% would have 0.73 bitcoins each. WITH THAT BEING SAID ITS TOO RISKY NOT TO OWN ANY AND EVERYONE SHOULD HAVE AT LEAST 1% OF THERE
Nice, FUD to the masses.
My question is once it is used as currency and is excepted as commerce the people receiving the bitcoins for services or products will immediately sell them because they are not invested in bitcoin, so if It becomes widely used in commerce , Will the value of bitcoin be suppressed because of all the selling, the more it is used for currency the most selling deal will be in bitcoin
On Bitcoins energy consumption: How much energy and resources are right now going into war industry, which is funded by fiat money printing?
this will be the future .
Paper money will be replaced one day for ever.
No lo sé the economist, dime lo tu, tu eres quien dicta las reglas para el mundo.
Cool..
old man yells at bitcoin
BTC is not supposed to be a replacement to money anymore - it's a long-term duration asset (ultimate store of value).
Everything is involved in criminal activity. Cash is the number one currency used in criminal activity.
Ransomware that shuts down hospital computers never asks for envelopes of cash.
@@mattd8725 mainly cause groups who build ransomware to attack. Infrastructure are funded by Russia and NK
They are lasting their powers
Bitcoin, South Sea, Tulip!
the funny thing you cant loose money if you dont sell on a bear market no panic is making money
Bitcoin is so much superior! The owners of the economist don't want to lose the power!
So Bitcoin is priced and valued in dollars and what makes it a Currency?
And how much crime is paid for in USD cash?
Problem: you didn’t mention the white paper and how is was created. Or you didn’t mention the lighting network. Or, you didn’t really “explain” bitcoin but you started discussing cryptocurrencies.
Plz make videos with the aspect ratio 20:9
If the economist had a newspaper it’d be great toilet paper, do they?
Does the Economist have legacy financial institutions sponsors?
Here we go again, just another lazy mainstream artical on Bitcoin price volatility, comparing Bitcoin to VISA, not to forget Bitcoin criminal use, blabla… is this the quality of information “The Economist” has to offer?
US dollars are the most used currency on ilegal activities.
FUD,
Buy Bitcoin.
I’m 84, a retired attorney, in and out of the movie industry as a producer and executive, owner of real estate and general investments, even owned race horses (awful investment), and radio stations. To listen to a man who is obviously a multi-millionaire and not a publicity seeking jerk is a fabulous pleasure.
Sure the Tulip mania FUD again. If this was Tulip Mania it would have not had a resurgence!
I wonder if people will complain about volatility when it goes from $200k to $135k later this year/next year.
"10 transactions per second" aka you're completely unaware of Layer 2 solutions.
Layer 2 solutions are a defacto admission that Layer 1 is shit LOL
The financial system we have now is the one creating very few winners and lots of losers. We need something new, something decentralised. I opt in for Bitcoin. The amount of misinformation in this video is a bit sad. Someone should lose their job.
Bitcoin and binary investment seems and has proven to be the best way to attain financial freedom 2021