History's Largest Financial Scam - Cryptocurrency

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  • Опубліковано 24 вер 2024
  • ANVIL STEAM PAGE: ggcont.me/34zBX6c
    Cryptocurrency, led by Bitcoin have exploded to a near 2 trillion dollar market cap, but as the industry grows, the danger rises. Crypto is not just a risky investment, it is also a wealth redistribution mechanism that funnels capital from the poor, to the rich.
    Crypto is misunderstood in one of the most dangerous ways possible, while functioning as an elitist and criminal safe haven of the worst kind.
    PATREON: / ueg
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    RESEARCH:
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    BUSINESS EMAIL: upperechelongamers@yahoo.com
    #bitcoin #cryptocurrency #crypto

КОМЕНТАРІ • 2,8 тис.

  • @UpperEchelon
    @UpperEchelon  2 роки тому +99

    Check out the top down Roguelike ANVIL: Vault Breakers. STEAM PAGE: ggcont.me/34zBX6c

    • @Chrisstampf
      @Chrisstampf 2 роки тому

      The first time I watched an entire ad, nice choice and I'll try it

    • @neutronshiva2498
      @neutronshiva2498 2 роки тому

      Never thought I'd ever say it, but I might just check out this game. Seems interesting and difficulty is big +.

    • @mightyraptor01
      @mightyraptor01 2 роки тому +1

      I think Crypto is all Chinese money.

    • @devilsadvocate1597
      @devilsadvocate1597 2 роки тому +1

      Have you looked into the impending bigest housing crash in the world has ever seen?.... the Chinese tofu homes... a country that doesn't let it's own people invest apart from in housing unfit to live in...
      also the interesting way American financial institututions/banks levied the previous president to remove their legal obligalions for misselling mortgages/loans that they have invested heavily in to this now crashing Chinese tofu panzi scheme?
      It's not just America that will be hit again... the world of financial greed is universal!

    • @KingofDMC19
      @KingofDMC19 2 роки тому

      It's a pretty good game, played it for a bit at launch. Sick you got a sponsorship from them.

  • @soldiersvejk2053
    @soldiersvejk2053 2 роки тому +361

    The fact that the advocates of crypto bragged about its “changing the world” “making the world more equal” while at the same time dreaming of making a fortune is laughable.

    • @greenfloatingtoad
      @greenfloatingtoad 2 роки тому +25

      It tells you all you need to know

    • @futurereflections4097
      @futurereflections4097 Рік тому +16

      “It’s changing the world! It’s the future! Bitcoin is better than fiat!”
      *Sells for fiat once the suckers believe it*

    • @harleyme3163
      @harleyme3163 11 місяців тому

      so what makes you think people arent making money off it? I get about $20 every 4 day mining...while paying 70 cents for the power.. I find most idiots that get into it thinking its millions in your pocket is bs... they have no understanding of how it works and base it as a scam.. again because they dont know how to make a profit on it. :-\ well... more for us.... lol we dont care if you dont believe LOL oh ps, for a currency that CANT be stolen, yeah, some country's are thinking of replacing they're current money with it

    • @danielkeenan1984
      @danielkeenan1984 8 місяців тому +2

      nice post a year ago, BTC was the highest preforming asset for 2023. Don't conflate bitcoin with crypto

    • @TumpalManurung
      @TumpalManurung 8 місяців тому +4

      ​@@danielkeenan1984oh no, not this again. So, enlightened one, please explain to us, these peasant fools, the difference between the two.

  • @kulak8548
    @kulak8548 2 роки тому +1288

    The point of crypto was never supposed to be about "getting rich", it was supposed to be about privacy and decentralized finance. With so many people focused on chasing the former it has corrupted the soul of crypto. To me NFTs are a great example of this. NFTs exemplify how crypto has become gamified like a casino, rather than functioning as a stable and secure alternative to central banks.

    • @GreenThumb27
      @GreenThumb27 2 роки тому +77

      I still believe in Bitcoin but NFT's are the worst and will go the way of the tulip.

    • @novasiri7809
      @novasiri7809 2 роки тому +55

      Also expanding on NFTs, they've become a rampant cespool for Art Theft. I have THANKFULLY not gotten my art or comic work stolen, but I know friends who have. And trying to get their work taken down is worse than pulling teeth... All while the scammer who 'minted' my friends art sits back and makes money off work they don't own.

    • @TheHighborn
      @TheHighborn 2 роки тому +22

      Exactly. Also it's not private at all. Hell even Monero isn't that private either.

    • @RealRatchet
      @RealRatchet 2 роки тому +6

      @@GreenThumb27 bitcoin is non-fungible and by definition an NFT

    • @Joso997
      @Joso997 2 роки тому +10

      it has not currepted the soul of crypto. Think of trading as bets how much is that industry going to be worth tomorrow. Crypto is no different than SpaceX or any other startup.

  • @bahb00
    @bahb00 2 роки тому +39

    Crypto is just 24/7 cross-border gambling.

    • @Cloud_Seeker
      @Cloud_Seeker 2 роки тому +5

      That it is. It will all come crashing down as soon as people want to cash out.

    • @gerhard-jx4rn
      @gerhard-jx4rn 4 місяці тому

      Good truth

    • @Mark-zm6hm
      @Mark-zm6hm 3 місяці тому +1

      Unlike Fiat that is controlled by the richest people that ever lived and still make a profit of of every transaction without being taxed a dime. Because that's not gambling. That's the House winning.

    • @bairfreedom
      @bairfreedom 28 днів тому

      Lol! Why do I win 100% of the time? Hmmmmmm......

    • @TiagoReis-q2w
      @TiagoReis-q2w 12 днів тому

      @@bairfreedom win?

  • @George43_
    @George43_ 6 місяців тому +51

    Hilarious, *Charge backtools* I love the work you do mate. Those low life scammers take money from old ladies, they have no soul or heart and deserve everything you give them!! Your doing a service to humanity. Love the videos, keep doing the good work mate.

  • @violatorut2003
    @violatorut2003 2 роки тому +87

    When crypto started getting commercials is when I decided to avoid it. Crypto is supposed to be a currency. When was the last time we saw a commercial where the message was to use the US dollar?

    • @shinigamiking8908
      @shinigamiking8908 2 роки тому

      We didn't and you would think that would raise some red flags but no people who support are to desperate or let's be real to stupid to realize that

    • @northerngamingygo4274
      @northerngamingygo4274 2 роки тому +8

      Only Bitcoin is a currency. The rest are securities

    • @trenton1190
      @trenton1190 2 роки тому +18

      The commercials are for cryptocurrency trading services. Not for Bitcoin. I've never seen a commercial for Bitcoin ever.

    • @ocmetals4675
      @ocmetals4675 2 роки тому +4

      @@trenton1190 Exactly. I see tons of commercials for Trading Plattforms and Banks for fiat.

    • @violatorut2003
      @violatorut2003 2 роки тому +2

      @@trenton1190 good point

  • @6reen6uy
    @6reen6uy 2 роки тому +701

    Been waiting for that title since 2012.

    • @apokatastasian2831
      @apokatastasian2831 2 роки тому +33

      always seemed self evident for me...
      in any situation where crypto is truly useful, I.E. when fiat currencies are going unstable...
      you'll rather have bullets, seeds, and farm tools
      when will people realize...they dont get to share the tech, you only get what they SELL YOU. THERE IS NO TECH UTOPIA COMING. only more and better tools for power to exert itself
      Kascinski was right....

    • @MsCravenMoorehead
      @MsCravenMoorehead 2 роки тому +25

      Ive been following crypto since 2013.
      I can author transactions and contracts with no exchange.
      I own exactly 0 of any form of crypto.
      Glad somebody finally wised up and said something about it.

    • @RaceLounge1
      @RaceLounge1 2 роки тому

      Me too.

    • @apokatastasian2831
      @apokatastasian2831 2 роки тому +6

      @@Mornings Lol the state is the biggest holder now.....they were going to ban it until the CIA got ahold of the silk road hoard.
      you really think they dont take interest in a dark money with an open ledger....
      Death and taxes....you are simply taking a shorter view than I. there's nothing free, and they will be back for their pound of flesh...
      bet you a silver coin

    • @apokatastasian2831
      @apokatastasian2831 2 роки тому +3

      @@waynealan3067 And when they seized it back, where'd it go? what's your point?
      that the blockchain is a populist tool for freedom....nonsense
      if it was we'd be using it to secure the vote...

  • @TheProphet49
    @TheProphet49 2 роки тому +275

    I realized this last year, watching so many coins go from being worth nothing, to jumping 4000%, then back down 3900%. The founders and friends have millions/billions of the original tokens for hundreds or thousands of dollars and sell them for millions while chumps get caught holding the bag for coins that will never 'recover'

    • @oneofmanyjames-es1643
      @oneofmanyjames-es1643 2 роки тому +73

      That scheme is called a "pump and dump", and they are ubiquitous in the crypto space. The initial buyers/founders need people to buy their tokens, so they hype it up to idiot cryptobros who buy in thinking that they are the pump, when really they are the dump. The founders and earliest adopters sell their coins to these new buyers at massively inflated prices, then everyone realises that the coins are actually worth nothing and the hype dies, bursting the bubble. Thing is, the cryptobros don't have a problem with this at all - they just hop from one coin to the next hoping that they get in early enough to be the pump, rather than the dump, and that they too can scam their own communities out of hundreds of thousands of dollars. It's all so pathetic.

    • @TheProphet49
      @TheProphet49 2 роки тому +14

      @@oneofmanyjames-es1643 I agree and I think that a lot of the money market works this way but crypto is just more obvious.

    • @AlexanderTheGoodEnough
      @AlexanderTheGoodEnough 2 роки тому +15

      Anybody who's trying to get you to buy financial assets in this market is holding a bag they're trying to unload on to you.

    • @CryptoBellwether
      @CryptoBellwether 2 роки тому +4

      Play the game. Then buy BITCOIN

    • @thishouseofglass
      @thishouseofglass 2 роки тому +5

      That’s because it’s a scam; it’s not crypto’s fault. When somebody online makes takes advantage of someone else and convinces the victim to wire them money under false pretenses, why don’t we call that a “USD scam”?

  • @Marcihun-wl2vy
    @Marcihun-wl2vy 2 роки тому +191

    Crypto was supposed to reform currency with it not being dependent on a government.
    Now its dependent on some "tech geniuses" who create it and can easily do what they want with it.
    Why does crypto currency have value? Just because a "tech genius" said it has?

    • @itsasecrettoeverybody
      @itsasecrettoeverybody 2 роки тому +35

      Shit coins depend on "tech geniuses". Bitcoin still a decentralized consensus.

    • @chasecrappel9480
      @chasecrappel9480 2 роки тому +31

      Money will never be independent of government. There is too much power these entities hold to even think you can do that. There is trillion dollars into crypto now from billion dollar companies and now it is in their control. People wanted to avoid banks, now these companies are just the new banks. Coin base, crypto.co, etc.
      These companies are hopping on this not because of what it’s supposed to be. It’s because they can make billions of dollars off of manipulating the market and screwing over people. It’s unregulated and perhaps even the easiest scam to ever exists because of government being slow to catch up and of how these companies can create any change in pricing that they want.
      For me it started off as a silly thing that people did kind of as a meme or fun, Now it’s completely out of any ones hand aside from these new “banks” and anyone defending crypto is uninformed or completely oblivious to the powers behind the scenes.

    • @f1champ551
      @f1champ551 2 роки тому +4

      But also with the massive printing of fiat dollars it can also go down to zero as well, so on Cryptocurrency and Fiat dollars, both of these can be the biggest scams... Like a lot of people said: on Cryptocurrency, "All it needs is a massive power outage and it is gone" and what I said earlier due to Richard Nixon years ago on Fiat dollars that there is no gold standard on the US Dollar, so the US dollar can go down to zero at some point.

    • @stupifyingstupedity2112
      @stupifyingstupedity2112 2 роки тому +8

      Currency relies on faith and faith is irrational. Always seemed deemed to be doomed...
      Crypto is only the displacement of confusion.

    • @Zeromaus
      @Zeromaus 2 роки тому +4

      Your entire comment says you genuinely know nothing about cryptocurrency.

  • @korneliahanna5883
    @korneliahanna5883 2 роки тому +26

    Investing in cryptocurrency is the best way of getting ahead to build wealth, investing remains a priority. The Cryptocurrency market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works, I pray that anyone who reads this will be successful in life..

    • @nandomalachovski3779
      @nandomalachovski3779 2 роки тому

      How does this crypto stuff really works and how do I make good profit from it? I'm willing to invest in it but I need guidance so I don't lose out.

    • @pmnsellout6308
      @pmnsellout6308 2 роки тому

      I would recommend you get started with a professional broker that will trade for you while you get the profit

    • @jamminglucas7040
      @jamminglucas7040 2 роки тому

      Do you have an idea of any good broker/trader I can start with that's trust worthy?

    • @korneliahanna5883
      @korneliahanna5883 2 роки тому

      That's his watsap line below, get in touch with him there

    • @korneliahanna5883
      @korneliahanna5883 2 роки тому

      ➕④④⑦③⑥⓪⑤⓪⑤⑨⑧⑥👈Kelly Walter , get in touch with him with this, tell him one of his clients directed you to him

  • @precioussunday1835
    @precioussunday1835 2 роки тому +33

    Forex market is by far the biggest and most popular market in the world traded globally by large number of individuals and organizations. Anyone who thinks of breaking out of financial struggles should consider investing crypto market.

    • @angelinadwyane5734
      @angelinadwyane5734 2 роки тому +2

      I have been making a lot through bitcoin which is solely the main source of my income these past years. Trading with Mrs JENICA DZEROWICZ has been an unregrettable experience

    • @aaronwilbert3171
      @aaronwilbert3171 2 роки тому +2

      Successful trading requires discipline, patience adaptability, mental toughness, independence and forward thinking mind

    • @coreymiller3345
      @coreymiller3345 2 роки тому +1

      I thought of investing in forex in 2019 but got discouraged by friends because of scammers

    • @evelyngreek6524
      @evelyngreek6524 2 роки тому +1

      The quickest way to make your first millions is to invest directly with an expert that is trustworthy and has made a name and individual billionaires

    • @zinabkultur890
      @zinabkultur890 2 роки тому +1

      It's not watching tutorials videos and wasting time on strategies. I was also ignorant doing so till I met Mrs JENICA DZEROWICZ sometime last year in New York at a startup funding event

  • @tiecoonracoon3630
    @tiecoonracoon3630 2 роки тому +372

    Honestly I had never heard about the claims of curing poverty until just now and I don't think anyone who uses crypto would actually make that claim unless they're the people trying to scam you

    • @thallium8148
      @thallium8148 2 роки тому +37

      In 3rd world country like mine a lot of these tokens and nfts advertising as if they are the future for all the poor and that it's insta millionaire if you invest in it and thus scamming a lot while rewarding some and these some will now advertise the tokens/nfts as something that saved them from poverty using what he earned as evidence and cycle begins again

    • @einsiedler5075
      @einsiedler5075 2 роки тому +3

      Look up Axie Infinity. It has been praised for "giving" third-worlders an extra source of cash.

    • @thallium8148
      @thallium8148 2 роки тому +11

      @@einsiedler5075 by also scamming others
      It seems like you also earned something from it that's why you're fine if others are scammed.
      Normal people really just think for their own sake and doesn't care if the one beside them is already dying because of the action of others so long as they earn something from it

    • @Quandry1
      @Quandry1 2 роки тому +9

      @@thallium8148 The instant millionare mentality is in first world countries too. It's just packaged a bit different. where it's boldly stated to 3rd world countries. It's covered in double speak and misdirection with the implication of "Everybody is going to get rich off of this" as a constant vibe that pushes it along without people outright saying it so those that don't bother listening to the context and BS they are being sold don't realize that is what it's claiming in a different way.

    • @Decatto1
      @Decatto1 2 роки тому +15

      If anything this video goes to show anybody putting their money into a crypto project should do their own research and due diligence. There are projects that are worth supporting and then there are pure scams. Education is the key, not mass blanket statements that cryptocurrency is a scam.

  • @joannewalker7863
    @joannewalker7863 6 місяців тому +38

    Excellent job done *Charge backtools* - so glad you are out there fighting these lowlifes. We need to do all we can to spare the elderly and the general public from these despicable scammers!!Kudos to You!!! You deserve the Nobel prize for keeping us safe big up

  • @fan_juggler
    @fan_juggler 2 роки тому +91

    TLDR: 1) There are many shitcoins. 2) Crypto won't reduce poverty. 3) Tether is shady. Therefore, crypto is the LARGEST FINANCIAL SCUM!

    • @nhandiep3398
      @nhandiep3398 2 роки тому +28

      i just wish he'd leave bitcoin out of shitcoin debates

    • @darrelsteinberg4127
      @darrelsteinberg4127 2 роки тому +4

      @@Mornings Which indirectly could help poverty since the state is responsible for most poverty but... yeah, anyone buying that crypto will end poverty is dumb

    • @dimaadamov8501
      @dimaadamov8501 2 роки тому +1

      Underrated comment.

    • @Sal3600
      @Sal3600 2 роки тому +10

      You want to end poverty? Build businesses where people can work.

    • @thefirsttrillionaire2925
      @thefirsttrillionaire2925 2 роки тому

      @@Mornings basically redistribute the wealth from the 1% to 5% be them already rich or the early adopters. Theoretically it would keep diffusing wealth down to the poor over time but this would take hundreds if not thousands of years unless major innovations come from crypto seeing how long rich people and their heirs hold on to their money.

  • @TheRedneckGamer1979
    @TheRedneckGamer1979 2 роки тому +119

    It's almost like an unregulated unaccountable financial market will always become a method of toxicity, exploitation and criminal activity.

    • @alphapham2060
      @alphapham2060 2 роки тому +15

      even in traditional market, market manipulation, scams are common.

    • @Oscuros
      @Oscuros 2 роки тому

      Yeah, it's exactly why those rules evolved over time, as opposed to the state just wanting to add to itself, which was always bullshit that only imbeciles would fall for. The fact is that ever since classical times in Athens, when someone bought out all the olive presses, cornered the market, drove prices way up, giving birth to the word monopoly that regulation has been demanded by the people.
      I love the tu quoque fallacy argument in reply to you, but it's more a case of with Celsius, those morons have lost everything, whereas in a real bank with real money, people's losses are covered, because of the amount of times that it happened before, so we have regulation about that, unlike with an unregulated imaginary bank that has unregulated imaginary pirate booty coins in it, so there is obviously a difference, no matter what the sock puppets try to say.

    • @OfficialDJSoru
      @OfficialDJSoru 2 роки тому +5

      @@alphapham2060 Yes, but that one is actually supervised. Anyone still doing scams through that either got corrupt connections or keep themselves under the radar.

    • @CraigStCyrPlus
      @CraigStCyrPlus Рік тому

      Nahhhhhh

    • @nevisysbryd7450
      @nevisysbryd7450 Рік тому

      @@OfficialDJSoru The people doing the supervising run the bigger financial scam. The moment that you add centralized regulation, the corruption will move into an unaccountable centralized power.

  • @edselgreaves6503
    @edselgreaves6503 2 роки тому +51

    Once again the old adage "If people tell you that you need to trust them with your money because the system is too complicated for you to understand, then it probably means the system is a scam" proves to be true.

    • @bobleglob162
      @bobleglob162 2 роки тому +4

      You fear it and don't understand it, therefore you dismiss it. You're making a judgement based on your ignorance.

    • @DueceBandit
      @DueceBandit 10 місяців тому +1

      Like your bank? I genuinely can’t tell if you’re describing crypto or the $.

    • @edselgreaves6503
      @edselgreaves6503 10 місяців тому +5

      @@bobleglob162 That's funny, because the only reason you claim people don't "understand it" is because you dismiss them, not the other way around. I majored in Financial Planning in university. Money is exceedingly easy to track & comprehend. It's because people refuse to openly talk about it that it seems more mysterious and complex than it really is.

    • @bobleglob162
      @bobleglob162 10 місяців тому

      @@edselgreaves6503 what is your point??? Crypto is easy to track, anyone can look at the blockchain. Your major in financial planning doesn't mean fvck all regarding your understanding of cryptocurrency.
      You can get scammed with cryptocurrencies just like you can with any other currency but the idea is not a scam. If you understood it you would realize that calling it a scam doesn't make any sense.

    • @buzzvuzz
      @buzzvuzz 9 місяців тому +4

      @@bobleglob162 You had a great opportunity to explain it, instead you did what all the others do - ad hominem that the inquirer is ignorant. Will that be the case for potential blockchain customers as well? good luck getting masses on board with the attitude. "This blockchain will solve the dentistry industry via defi!" / "how?" / "ahh, you're just too ignorant to understand!!!"

  • @shreder89
    @shreder89 2 роки тому +5

    the fact that this comment section is full of bots promoting their own crpyto coins and channels is the cherry on top of this video.

  • @ivanasukjadic1423
    @ivanasukjadic1423 2 роки тому +340

    When something becomes popular it gets exploited and scams abound

    • @Noksivs
      @Noksivs 2 роки тому +10

      Just like internet did... Yet look at it now.

    • @kosmique
      @kosmique 2 роки тому +35

      the internet ws pure gold until it went super popular. put too many humans on one thing, and it turns to shit. god i hate us.

    • @sunakohari8718
      @sunakohari8718 2 роки тому

      search for the lost helicopter

    • @Delimon007
      @Delimon007 2 роки тому +4

      @@Noksivs
      The internet is nothing like it was in the past when there was next to zero censorship and monitoring

    • @jct3439
      @jct3439 2 роки тому +9

      @@Delimon007 And crypto, atleast the QUALITY projects in the space have set out to restore exactly that

  • @Ghost_Text
    @Ghost_Text 2 роки тому +140

    I realize a lot of people were eager to subvert fiat to become sucessful on their own terms and jumped on the crypto trend.
    But the greatest crime remains the hampering of public education. How early personal finance & investment shouldve been taught and trade skills honed before graduating high school.

    • @FullTimeGaming360
      @FullTimeGaming360 2 роки тому +18

      Well doing over a decade of mandatory education over here in the UK and then get told if you don't want to be on minimum wage go to uni or "You should have done an apprenticeship" while every college and education board screams there is no job progression in Trade skills. Which is true to an extent, but avoids the power of being your own boss via your skills.

    • @IIISWILIII
      @IIISWILIII 2 роки тому +5

      Why would you want the slaves to have access to the keys of their cages?

    • @davekerryvane3015
      @davekerryvane3015 2 роки тому +4

      Educating the population on how money works is not in the interests of the rich

    • @epruno3583
      @epruno3583 2 роки тому

      listening to this while creating a small course on crypto for highschool students

  • @chillaxtree78
    @chillaxtree78 2 роки тому +7

    Let’s thanks the sponsors of today’s video: Wells Fargo, Bank of America, JP Morgan, Goldman Sachs, the IMF and Wall Street.

  • @amano_s
    @amano_s 2 роки тому +6

    The funny part of this video is that in the middle of it a Bit Coin Ad popped up. How ironic.

  • @orcus6222
    @orcus6222 2 роки тому +22

    I saw a meme that worded it perfectly. If there ever becomes a day that I am forced to learn cryptocurency and have to keep a digital wallet I'm becoming a terrorist.

    • @orcus6222
      @orcus6222 2 роки тому +2

      @@DarkSpyro707 Oh and the billion dollar corporations are gonna fix that with crypto huh? Corporations are to blame for that and you think they won't do the same with crypto?

    • @Ponen77
      @Ponen77 2 роки тому +1

      @@DarkSpyro707 Yeah and people equating crypto to shady activities tend to forget/ignore the fact that fiat like the dollar has also been used to fund terrorists, extremists, sex trafficking, drug trade, illegal wars etc etc for literally decades if not hundreds of years at this point. Any means of exchange like gold and silver, fiat, barter, crypto etc will always have both positive and negative aspects. Criticizing crypto because it can be used by terrorists or other illegal activities is akin to criticizing only fiat because govts around the world funds terrorism or despotic regimes, in both cases we see that its not fiat or cryptos fault, those are just means of facilitating transfer of assets/value, the real problem is the govt bodies, policy makers, individuals, organizations that make the decision to engage in illegal or morally questionable practices.

    • @bairfreedom
      @bairfreedom 28 днів тому

      The digital wallet is definitely coming.

  • @thatguywesmaranan
    @thatguywesmaranan 2 роки тому +164

    i believe it started out with good, noble intentions...
    but as time went on, a lot of opportunistic entities got on the hype train and corrupted the platform...

    • @Ancientreapers
      @Ancientreapers 2 роки тому +19

      As with most every other Human endeavors it ends up getting corrupted.

    • @Patrickf5087
      @Patrickf5087 2 роки тому +8

      Like communism and socialism. Whats the highway to h3!!?

    • @oxithius_official
      @oxithius_official 2 роки тому +2

      Yeah, wallstreet and gov gotten in to it aswell, which is a red flag if you include the assets they have to play around with

    • @MrDoggo23
      @MrDoggo23 2 роки тому +3

      @@Patrickf5087 Ironic since this is a purely capitalist way of "making a quick buck"
      Also, I have no fucking idea how or why you even talk about political systems in a comment section of a video discussing the state and nature of crypto. Is this a Burgerland thing?

    • @Patrickf5087
      @Patrickf5087 2 роки тому +3

      @@MrDoggo23 yes because money is an isolated thijg qnd has No relation to poltical power or governments....
      I wonder what Venezuela would think?
      Stop being a narrow minded muppet.
      Also i was commenting on the whole "noble intentions" bit, plenty of governments used the whole noble intentions as a means to crush peoppe under their boots

  • @DieselMcBadass1
    @DieselMcBadass1 2 роки тому +41

    One thing about crypto is nobody really uses it as currency, they just hoard it.

    • @cIoudbank
      @cIoudbank 2 роки тому +1

      almost likes that’s what capitalism enforces you to do 🤔

    • @supertrooper6011
      @supertrooper6011 2 роки тому +5

      ok... so that $30 billion dollars per day of trading in just USDT alone ... you think that is all people onboarding to purchase and hoard? I get there are question marks over tethers backing but the demand is real. If they are hoarding at a rate of $30 billion (+all the tether alternatives and non-us currency pairs) a day... why no moon? Also, I seem to remember there are several million crypto based debit cards that have been issued... presumably so users can pay the upfront cost and never use them? I would venture perhaps many people use them as currencies... of course you are correct with regular 10% compound interest rates to be found there is an incentive to hoard as well (they called it saving when fiat had 10% interest rates) but there are plenty of real world transactions that originate in crypto.

    • @DieselMcBadass1
      @DieselMcBadass1 2 роки тому

      @@supertrooper6011 crypto cards generally give crypto instead of cashback rewards, not actually pay in crypto. Also, many sites have introduced crypto options for purchase and rarely see use. My local jewlers and metals exchanges even allow tradng crypto for real solid gold and silver and nobody does,

    • @starsiegeRoks
      @starsiegeRoks 2 роки тому +3

      @@supertrooper6011 tbh, 30 billion isn't shit for a collective currency. The U.S military budget is over 400 billion per year.

    • @NankitaBR
      @NankitaBR 2 роки тому +1

      And they never will.

  • @korneliahanna5883
    @korneliahanna5883 2 роки тому +26

    THE BEST DECISION I EVER MADE IN MY LIFE WAS INVESTING IN THE CRYPTO MARKET. TRUST ME GUYS, IT REALLY PAYS A LOT! 😊

    • @pmnsellout6308
      @pmnsellout6308 2 роки тому

      How does this crypto stuff really works and how do I make good profit from it? I'm willing to invest in it but I need guidance so I don't lose out.

    • @jamminglucas7040
      @jamminglucas7040 2 роки тому

      I would recommend you get started with a professional broker that will trade for you while you get the profit

    • @zackobinna2266
      @zackobinna2266 2 роки тому

      Do you have an idea of any good broker/trader I can start with that's trust worthy?

    • @chinomsojessica6956
      @chinomsojessica6956 2 роки тому

      I would recommend my current broker Mr Kelly Walter . He is currently earning a lot of profit for me and his services are top notch

    • @nandomalachovski3779
      @nandomalachovski3779 2 роки тому

      Wow, i'm shocked you mentioned Mr Kelly Walter , he is also my current broker and he earns 10,500$ for me weekly

  • @Fluffy65
    @Fluffy65 2 роки тому +20

    UA-cam and their brilliant algorithm thought this was a great video to attach a crypto advertisement to. Well played guys.

    • @douglasthompson1724
      @douglasthompson1724 2 роки тому

      "Commercial spaces are now full with ads that tell you to 'buy crypto here' or 'trade in this coin'."
      UA-cam Algorithm: USE THIS PLATFORM FOR ALL YOUR CRYPTO TRADING, ONLY $10 TO START AND YOUR FIRST TRADE IS FREE!
      Not to mention all the "high gizmo"(?) comments that appear on the top of the comment section here now because scammers made bots and bought enough likes to game the comment section algorithm to put them up on top.
      Things that just make me want to disconnect.

  • @meidomiseri
    @meidomiseri 2 роки тому +179

    Its a meme economy, thats what one of the few folks I know who have their hands in the NFT market said to me
    and he meant it, its all about making people think these things have value.

    • @GustavoAlves-iq5pc
      @GustavoAlves-iq5pc 2 роки тому +12

      ponziers

    • @antiwhatever5391
      @antiwhatever5391 2 роки тому +14

      That’s the economy in general. Other than basic food and water we put the value of items on items. If the most valuable things were the most expensive then water would $10,000 a bottle and 65 bedroom mansions would be $20.

    • @eclisis5080
      @eclisis5080 2 роки тому +16

      @@antiwhatever5391 Crypto isn't even item though and it's not even a currency even though people call it that lmao, people values of things who consume or use, there's nothing to consume from crypto and it doesn't have a use

    • @jalight27
      @jalight27 2 роки тому +1

      Isn't that just what our entire economy is based on now

    • @thefirehawk1495
      @thefirehawk1495 2 роки тому +2

      The practical difference between someone thinking something has value and having value doesn't exist.

  • @Leatherbubba
    @Leatherbubba 2 роки тому +163

    It's hard to see crypto as some subversive thing when rich Hollywood celebs are shilling it.

    • @Alendrin1
      @Alendrin1 2 роки тому +23

      That should be the first clue it's a subversive thing. They used to shill cigarettes.

    • @MrDoggo23
      @MrDoggo23 2 роки тому +24

      Pay anyone high enough and they will spew any bullshit you wish.

    • @darwinxavier3516
      @darwinxavier3516 2 роки тому +30

      @@MrDoggo23 This comment is sponsored by _Raaaiiiid Shadow Legends_ .

    • @patchmoulton5438
      @patchmoulton5438 2 роки тому +10

      I lost all trust in crypto when I started seeing ads for crypto cards.

    • @Diegoshadow85
      @Diegoshadow85 2 роки тому +2

      @@Alendrin1 He probably meant "it's hard NOT to see" or something like that and misstyped.

  • @martinhristov3670
    @martinhristov3670 2 роки тому +64

    As far as I see, crypto will be the exact same as any other form of fiat currency. It all starts out ok, but people and entities with more resources end up pumping and dumping until what most people have is worthless

    • @f1champ551
      @f1champ551 2 роки тому +4

      Same way with any fiat currency so I agree with you on both of it... And here is a hot take for me, Gold and Silver will likely be similar when the time comes, when it's harder to buy and sell for ALL people.

    • @f1champ551
      @f1champ551 2 роки тому

      If I am wrong, let me know.

    • @f1champ551
      @f1champ551 2 роки тому

      I may be using religious predictions, prophecies and BS on that part.

    • @zhangjao6328
      @zhangjao6328 2 роки тому +8

      @@f1champ551 Nah, you're not wrong. Can't eat gold and silver. Food would be the most important thing if we get to that point. Food or bullets.

    • @f1champ551
      @f1champ551 2 роки тому +2

      @@zhangjao6328 plus on Cryptocurrency and Fiat, we have the same electricity, right? Both will have no electricity and both will lose value due to the Fiat dollar not printing and Cryptocurrency for the currency element as well. I may be wrong as well.

  • @i4nic256
    @i4nic256 2 роки тому +11

    The minute CNBC Jim Cramer started to get positive on crypto, I knew it was the end.

    • @MikeStJacques
      @MikeStJacques 7 місяців тому

      Cramer told people to sell their Bitcoin when it dropped below $30,000. Now it's $47,000+ as of today - 10 Feb 2024.
      People buy Bitcoin when they realize they were wrong.

  • @loveXclub
    @loveXclub 2 роки тому +4

    Crypto itself isn't a scam. People are just running all the same scams you can do with fiat currency. The only difference is that crypto is largely unregulated, so it's easier to get away with.

    • @rinzler9775
      @rinzler9775 2 роки тому

      The only way a scam can work is with a good supply of idiots.

  • @Cody-5501
    @Cody-5501 2 роки тому +4

    Also isn’t the federal government the only one in America that is allowed to create and print money? I feel like I remember that from my Constitution class

    • @havocgr1976
      @havocgr1976 2 роки тому +2

      Yap, and especially in America its pure paper, other currencies have actual rare minerals in em.

    • @Cody-5501
      @Cody-5501 2 роки тому +2

      @@havocgr1976 I’m saying is the creation or use of crypto even legal since it’s supposedly a currency?

  • @starsiegeRoks
    @starsiegeRoks 2 роки тому +223

    I always felt that crypto would turn into this after the initial winners cashed out.
    The problem with unregulated speculative markets is that there always has to be ALOT of losers and a few winners. (statistically speaking) There is no "rising tide that raises all ships" with markets like these. To succeed you have to make someone else lose.
    Unless you have "f you" money, these markets are almost nothing but risk with a very small chance of success that is determined by your ability to constantly pay attention to it and find the "biggest fool".

    • @Francois_Dupont
      @Francois_Dupont 2 роки тому +23

      remember the gold rush? the people who got rich were selling shovels and pans.

    • @Hammerhead547
      @Hammerhead547 2 роки тому +4

      When the crypto market finally pops it's going to absolutely destroy the economy of any country that is foolish enough too try and use it as an "alternative currency".

    • @Hammerhead547
      @Hammerhead547 2 роки тому +6

      @@Francois_Dupont
      During the Yukon Gold Rush it was the crown (government) that got rich buying land off failed prospectors at fire sale prices and then selling it decades later too townships and cities like Whitehorse.

    • @Zarincos
      @Zarincos 2 роки тому +10

      @@DimitriFilichkin The problem is that it's entirely possible for a full market crash to happen. If proof of work mining gets banned (like I think it should), then all the biggest cryptos will crash. That might sound far-fetched, but a number of countries around the world are looking at crypto in a pretty bad light, with a few banning them outright and others regulating them extremely heavily. Especially if it ever looks like people on a larger scale are looking to crypto more for storing their funds than the dollar, you can bet the US government isn't going to sit back and let that happen.

    • @Toralian89
      @Toralian89 2 роки тому +9

      @@DimitriFilichkin Are these winners even alive? Maybe outside of literal tens or hundreds of people there are no actual "winners" who made it from zero to tens of millions? If your millions are in crypto and you never use it - are you a millionaire? If they never use it - these people are well off even without crypto money, so they "made it" even before they invested in crypto.

  • @perandersson3977
    @perandersson3977 2 роки тому +32

    I love the idea of "cryptocurrency". Not because the privacy factor (which doesn't really exist), but because you can shop without the need for a payment provider. But crypto, today, has turned into the purest form of technical analysis for stocks.

    • @Bread-nx9fo
      @Bread-nx9fo 2 роки тому

      It’s just shit

    • @randallkohn6089
      @randallkohn6089 2 роки тому +2

      If you have to pay tax then it’s not private or anonymous

    • @Albeavier
      @Albeavier 2 роки тому

      Not True. There are a few privacy coins like monero

  • @mangar49
    @mangar49 2 роки тому +2

    Matt Daemon told me fortune favours the brave and now I have to steal copper pipes to survive.

  • @williamspatricia1003
    @williamspatricia1003 2 роки тому +27

    I'm actually tired of working about stocks...it's driving me nuts these days, I think crypto investment is far better than stock..

    • @genesisanna2239
      @genesisanna2239 2 роки тому

      Trading crypto has been a lucrative way of making money

    • @edetbassey162
      @edetbassey162 2 роки тому

      Stocks are good but crypto is more profitable

    • @peacestephen6090
      @peacestephen6090 2 роки тому

      I'm new to forex trade and I have making huge losses but recently I see a lot of people earning from it. can someone please tell me what I'm doing wrong

    • @thomasvictoria4733
      @thomasvictoria4733 2 роки тому

      all you need is a professional trader else you will continue making losses

    • @katranelisabeth3929
      @katranelisabeth3929 2 роки тому

      How can someone know a professional account manager that is trustworthy when legit once are hard to find this days

  • @lukecotton3076
    @lukecotton3076 2 роки тому +14

    Yeah I’m never putting my medical records on an unregulated block chain

    • @nhandiep3398
      @nhandiep3398 2 роки тому

      i mean does it really matter these days? government mandates said get lost with your right to privacy concerning medical records as it is.

  • @WorthlessWinner
    @WorthlessWinner 2 роки тому +81

    Be careful with the "frontiers" journal series. They notoriously publish a lot of bad but sensational research.

  • @lorelei4158
    @lorelei4158 2 роки тому +11

    Ahh, getting a crypto ad on the corruption of crypto. Love it

    • @kempolar9768
      @kempolar9768 2 роки тому +1

      Considering that the only thing crypto-bros care about is buzzwords, makes sense.

  • @mops515
    @mops515 2 роки тому +73

    Any currency system that redistributes wealth to the less fortunate would never succeed. The top analysts would see the loss and no money would be put towards promoting it; so it would flounder very quickly.
    The fact that Bitcoin and cryptocurrency was pushed so heavily among the wealthiest people was proof in itself that they were the ones making money from it.

    • @ChaotiX1
      @ChaotiX1 2 роки тому +5

      "Were"? You mean ARE. Crypto is tanking right now and the wealthy are buying a shit ton because they know Bitcoin is going to pass 100k in the next 1-2 years. So they will continue to get more rich while the poor get poorer out of fear of losing what little money they have.

    • @Austin1990
      @Austin1990 2 роки тому

      Indeed. I realized something was wrong when the media and billionaires would all promote crypto as if reading a script. Crypto would surge in value. Then, they would all flip to a different narrative, criticizing crypto. The crypto would crash. Then, they’d repeat the pattern. It seems like they are all colluding to pump wealth from regular people to the conspirators at the top.

    • @ChaotiX1
      @ChaotiX1 2 роки тому +1

      @@Anonimowany1 bitcoin isn't dictated by the economy, it's dictated by halving events. It will return to around 60k within the year, dip dound back to 40k the next year, and then balloon well past 100k the following year.

    • @ChaotiX1
      @ChaotiX1 2 роки тому

      @Gunk Session thanks

    • @drewhanna9057
      @drewhanna9057 2 роки тому +3

      @@Anonimowany1 the fundamentals of bitcoin as a modern payment network is too good. When fiat payrails fail, nobody is going to go back to settling transactions in gold which is expensive and takes days to ship and settle.
      Bitcoin solves the problem of inflation and immediate transaction settlement.

  • @marcosluck4152
    @marcosluck4152 2 роки тому +5

    Glad to see that you are benefiting from Mrs Keily Morrison mentorship. I did, and I'm still reaping from my decision to work with her.

    • @andrewmason4693
      @andrewmason4693 2 роки тому

      I also believe even when bitcoin is not moving forward, You can still make so much money despite the current fall in bitcoin, very true, with the right strategy and consistency, and Mrs Keily Morrison offers the best right now.

    • @mrgodsons5753
      @mrgodsons5753 2 роки тому

      It is really refreshing to see a commentary on Mrs Keily Morrison I had the opportunity to benefit from her guidance a few months ago and it was a very smooth experience. It is amazing how accurate her market analysis is and how well and patiently she is with beginners.

    • @paulyum2907
      @paulyum2907 2 роки тому

      Strategy to save lives, trusted. Thanks to Mrs Keily Morrison' life-saving strategy, my family and I are living a happy life in our new home.

    • @gerhard-jx4rn
      @gerhard-jx4rn 4 місяці тому

      Who is miss Keilly?????

    • @gerhard-jx4rn
      @gerhard-jx4rn 4 місяці тому

      Who is she????

  • @KingTiger2000
    @KingTiger2000 2 роки тому +13

    wise words. if only people listened. I ignored the existence of this fad, but many of my friends fell for it and lost their savings. Some have experienced severe depression, some just pretended it never happened and that they are ok.
    what a weird time to be alive...

    • @leepreece813
      @leepreece813 9 місяців тому +2

      Damn sorry to hear.... hopefully they held on, the market is up like 2.5x since you posted this

    • @zupnanazwa
      @zupnanazwa 8 місяців тому

      ​@@leepreece813 2,5x in what?

  • @przemysawbe2410
    @przemysawbe2410 2 роки тому +21

    Biggest scam?? O_O Doesn't even come close to the biggest - fiat currency....

    • @Name-el9ps
      @Name-el9ps 2 роки тому +4

      The volatility is too much for most people with crypto. That’s why videos like this exist. In another year this video will make peopel cringe

    • @martinguerre8220
      @martinguerre8220 2 роки тому +2

      At least I can wipe my ass with it

    • @przemysawbe2410
      @przemysawbe2410 2 роки тому +2

      I'd rather just use BTC/ETH and buy some toilet paper, but whatever works for you, man xD

  • @Ancientreapers
    @Ancientreapers 2 роки тому +54

    It always sounded like a pyramid scheme to me from the beginning when I first heard about it and looked into it around 2010. Now I can't help thinking about the people who sold their farms to buy into crypto when it first rose to close to $20k a coin only to have it crash hard. The same when it just recently lost its value.

    • @JustChillinOnThe5thFloor
      @JustChillinOnThe5thFloor 2 роки тому +9

      Welp don't invest won't you don't want to lose lol but if they held and sold some at 70k though....

    • @NaudVanDalen
      @NaudVanDalen 2 роки тому +8

      @@JustChillinOnThe5thFloor Then I'm never gonna invest because I don't want to lose money. Who wants to lose money?

    • @Zarincos
      @Zarincos 2 роки тому +7

      @@JustChillinOnThe5thFloor That's a really poor argument that's just trying to exploit FOMO. You could have bought MoviePass stock at the right time and earned 100x your money, but that would still in no way have been a wise use of your money.

    • @MrMe917
      @MrMe917 2 роки тому +1

      @@Zarincos I think (I hope) it's a meme about those people who believe crypto will rise indefinitely, and reply to any kind of scepticism with "yeah, I know I just lost 50%, but just wait until I get rich and you'll see I was right all along"

    • @timofaust1315
      @timofaust1315 2 роки тому +7

      Hopefully those who bought at 20k back then held on and sold at around 60+k last year ;)

  • @neco5740
    @neco5740 2 роки тому +42

    I realised the same thing but from another perspective, specifically that Bitcoin has more equivalents with a market bubble or a ponzi scheme than a currency. With only 10% being used for transactions and the other 90% being investments shows that it has no inherent worth other than growing your money. Problem only is the money has to come from somewhere and someday it has reached this peak and its only downhill from there

    • @JuanDeLaRosaTV
      @JuanDeLaRosaTV 2 роки тому

      Crypto is unproductive like the housing real estate market, the only people that can profit are the owner of the asset and the government.

    • @michaelvernon9459
      @michaelvernon9459 Рік тому +2

      Bitcoin isn't the only thing like this though, so is gold. Gold is rarely used in transactions and people use it as an investment. Does that mean gold is a ponzi scheme too?

    • @juliansoto2651
      @juliansoto2651 Рік тому +3

      Use for investment is far from being evidence of it being a scam.

    • @buzzvuzz
      @buzzvuzz 9 місяців тому

      @@michaelvernon9459 I mean gold has real life applications as a metal.

    • @prostozachill8413
      @prostozachill8413 8 місяців тому

      @@michaelvernon9459 it is at least exists: you can make jewelry and it is recognized as a rare mineral, which is used to make electronics at least. So it has real value

  • @ninjaswordtothehead
    @ninjaswordtothehead 2 роки тому +21

    The 'promise' of Bitcoin sounds suspiciously like the 'promise' of the stock market in the 1920s.

    • @thefirehawk1495
      @thefirehawk1495 2 роки тому

      The stock market has been generating returns for every investor big or small for 100 years, not participating in either the stock market, or bonds, or real estate, or crypto, is a sure way to have your savings diluted to oblivion and having to fight several times as hard to have a decent life and achieving financial goals.

  • @EvilDG
    @EvilDG 2 роки тому +11

    so what happened to all your btc?

    • @JahonCross
      @JahonCross 2 роки тому +10

      He probably sold when it was at $1 and regretting it lol

    • @SlashDrago
      @SlashDrago 2 роки тому +6

      Usually that's the case for people who hate crypto. They sold too early and now are mad.

    • @justarandompersoniguess
      @justarandompersoniguess 2 роки тому +2

      Found the people rushing to defend and make excuses for crypto instead of actually watching the video and listening

    • @SlashDrago
      @SlashDrago 2 роки тому +6

      Yeah, I did watch it. But since he generalized crypto, I'll generalized cryptohaters. I know a few people actually have qualms with crypto but most of them are angry.

    • @justarandompersoniguess
      @justarandompersoniguess 2 роки тому +1

      @@SlashDrago i mean, fair enough. Just find it really stupid when people immediately go to “lol he’s just mad because he lost money from selling crypto in a bad time”

  • @gabormervo6650
    @gabormervo6650 2 роки тому +6

    Not to mention, how crypto mining is ruining the video card market and its huge energy consumption and heat generation is also, not that good for the environment

  • @chicksandwich
    @chicksandwich 4 місяці тому +4

    Anyone with 2+ braincells knew NFTs and Shitcoins were a scam

  • @RadmanTheWise
    @RadmanTheWise 2 роки тому +3

    I know that personal experience doesn't mean much in grand scale of things but I have never met anyone who was able to liquidate their crypto horde.
    I have seen people "spend their money" on NFTs and websites and trade online for goods, but never have I come across someone that verifiably managed to turn their monopoly money into actual fiat currency in any meaningful quantity.
    There's no point in having 200k in a currency that only lets you extract in small sums with low consistency.

  • @michael2275
    @michael2275 2 роки тому +7

    Bitcoin as a modest allocation long term savings is good. Bitcoin and 'crypto' should not be conflated imo.

    • @goodmorningfiatnam
      @goodmorningfiatnam 2 роки тому +3

      Exactly, crypto is a way to separate fools from money. Bitcoin separates money from state.

    • @HouseParty13
      @HouseParty13 2 роки тому

      this misses the point that it doesn't take much to get involved in crypto. when throwing items at the wall few of them will stick.

    • @michael2275
      @michael2275 2 роки тому +1

      @@HouseParty13 you're missing the point that everything but bitcoin is crap

  • @garrysanderson5793
    @garrysanderson5793 2 роки тому +27

    Who woulda thought that giving unfettered access to the most complicated form of market without any requirement for education would end with a bunch of nubs gettin phucked for eternity... Who coulda ever guessed that 🤯

    • @Joseph_G
      @Joseph_G 2 роки тому

      Giving some small group the power to deny access to anyone they deem 'uneducated' is worse. You have to give more power to powerful institutions basically just because they are already powerful, rather than because they are trustworthy. Some group has to determine what 'education' is deemed sufficient: some academics, politicians, CEOs, bureaucrats etc. This is always the part that calls for 'regulation' gloss over: the deeply unsavoury nature of all the possible regulators, none of which can be trusted with even the power they already have.

  • @ronyavant7414
    @ronyavant7414 2 роки тому +14

    Most* *people* *think....* *Investing* *in* *crypto* *is* *all* *about* *buying* *coins* *and* *holding,* *till* *it* *rises,* 🙅 *come* *on* *it* *takes* *much* *analysis* *to* *be* *a* *successful* *crypto* *trader.*
    *I've* *made* *$16,000* *in* *two* *weeks* *of* *trade.*

    • @afterglow7984
      @afterglow7984 2 роки тому +2

      Bot

    • @cynthiahenry6821
      @cynthiahenry6821 2 роки тому

      OMG!!! *$16k* how's that possible. What's your strategy?

    • @ronyavant7414
      @ronyavant7414 2 роки тому +1

      @@cynthiahenry6821 I trade with a professional broker Gary Hangs he brings me massive returns.

    • @mandycarl2053
      @mandycarl2053 2 роки тому +2

      I also trade with Mr. *Gary Hangs*, haven't you heard of him?
      He is the best to trade with.

    • @rachaelariana7759
      @rachaelariana7759 2 роки тому

      *$16,000* That's really big.
      I trade on my own, but I've only made $2,800 in a month

  • @BSW14
    @BSW14 2 роки тому +15

    I've done well out of it. Everyone's entitled to their opinion but I don't think this video will age well

    • @emdubb1381
      @emdubb1381 2 роки тому

      im sure UEG would agree, that we all hope your right. although currently its flooded by scams. perhaps if those ever get hashed out a world may exist where you are correct

    • @CMTechnica
      @CMTechnica 2 роки тому +2

      And crypto necessitates computers and arbitrary agreements on value. Neither have aged well. Sorry you bought into a scam tho

    • @marierejoiceinjesus3846
      @marierejoiceinjesus3846 2 роки тому +3

      You are talking about your experience, which is also the now and not the future. Let's see how fed coin does for you because you won't be using anything else.

    • @oneofmanyjames-es1643
      @oneofmanyjames-es1643 2 роки тому

      that you did well means someone else did badly

    • @darrelsteinberg4127
      @darrelsteinberg4127 2 роки тому

      @@oneofmanyjames-es1643 Literally how economics works. One business succeeding means one or more other businesses failed. Do you know how many businesses Amazon and Netflix routinely crush every day, let alone how many they crushed on their way up?
      Stock markets -> people who make money off the stock market do so by taking money from other people. Stocks generate 0 actual value, it's pure financial redistribution.
      This isn't a real argument against crypto, even though there are plenty of valid ones. It's just that people are realizing how economics actually works without realizing that's the entire economy, by looking at the hyperspeed micro-economy of crypto.

  • @meatmachine449
    @meatmachine449 Рік тому +2

    I knew it was a scam all the way, i never doubted myself that like most things this species we belong to makes, it must be a scam…

  • @RaviKumar-er5is
    @RaviKumar-er5is 3 місяці тому +2

    When all assets are all time high its at all time low. And suddenly coins rise 200x - 500x in 2-3 months. If not scam and fraud what it is??? It's biggest scam and fraud in the world

  • @TheNuclearGeek
    @TheNuclearGeek 2 роки тому +49

    You mean all those poor African communities aren't the ones buying up and hoarding the GPUs to mine crypto and solve their poverty?

    • @Gurci28
      @Gurci28 2 роки тому

      On July 16, Russian President Vladimir Putin penned a new law, effectively banning the use of digital assets as payment for goods and services in the country. As per the law, cryptocurrencies and NFTs are no longer accepted as legal payment methods in Russia. 2 days ago
      Source: CNBC TV18
      2:52

  • @PyroChimp75
    @PyroChimp75 2 роки тому +4

    'The road to hell is paved with good intentions'

  • @robertjones4635
    @robertjones4635 2 роки тому +102

    To those who would allow the market dynamism to determine when to trade or not are either new in space in general or probably just naive, the sphere have seen far worse times than this , enlightened traders continue to make good use of the dip and pump even acquiring more equities towards trading sessions, I'd say that more emphasis should be put into trading since it is way profitable than holding. Trading went smooth for me as i was able to raise over 9.2 BTC when i started at 1.5 BTC in just a few weeks implementing trades with signals and insights from Ellis Gregory Carson Fx, i would advise y'all to trade your asset rather than hold for a future you aren't sure about or hold it and risk loosing all

    • @peytonbrown8037
      @peytonbrown8037 2 роки тому

      Wow so nice, seeing people talk about Ellis Gregory I just made my first withdrawal, trading with him.

    • @peytonbrown8037
      @peytonbrown8037 2 роки тому

      All thanks to my aunty who introduced him to me.

    • @christophertaylor3689
      @christophertaylor3689 2 роки тому

      Who is he, and how does he works?

    • @jackbrown9163
      @jackbrown9163 2 роки тому

      @@christophertaylor3689 You can find Ellis Gregory Carson Fx

    • @jackbrown9163
      @jackbrown9163 2 роки тому

      F a c e B o o k

  • @l.d-b3465
    @l.d-b3465 2 роки тому +5

    Irony: Watching this, and then UA-cam giving me a commercial about getting taught how to trade NFTs. Priceless.

  • @exmachinz
    @exmachinz Рік тому +5

    Aged like fine wine

  • @COctagons
    @COctagons 2 роки тому +169

    Thank you for verbalising the thoughts that have been swimming around in the back of my mind ever since I learned what Crypto is and how it works.

    • @nhandiep3398
      @nhandiep3398 2 роки тому +4

      can you share what you've learned about bitcoin? i'm trying to understand it as well, no sarcasim

    • @Noksivs
      @Noksivs 2 роки тому +5

      @@nhandiep3398 you should listen to Tucker Carlson interview with Michael Saylor if you want to understand bitcoin.

    • @GaijinTonic
      @GaijinTonic 2 роки тому +1

      Lmao sarcasm intended

    • @thefirsttrillionaire2925
      @thefirsttrillionaire2925 2 роки тому +5

      @@nhandiep3398 no look up guy from Coin Bureau, he’s the #1 crypto channel on YT and makes a damn good channel for learning about crypto

    • @hex_gekko29568
      @hex_gekko29568 2 роки тому

      @@thefirsttrillionaire2925 nope Richard Heart is the best resource for crypto on the internet.

  • @crzyces1693
    @crzyces1693 2 роки тому +42

    Great video, but a few of the facts are incorrect. I can see how it's easily confused as many sites have, well incorrect figures. When writing my Masters Thesis I ran into this quite often, and like you do in your videos quite often, I went through various sites, where the numbers did not seem to line up; ei the Gini Coefficient going down in 2007 and 2008 compared to 2004? Or down in 2018 to 2020 based on the site I believe you are referencing. That raises red flags so you back tack to see who runs the site, the company that owns it, who own that company, who are their largest investors etc etc.. I t appears you used a site like *_Trading Economics,_* which is one of the many sites owned and run by Wells Fargo, Blackrock, and numerous other absurdly wealthy companies who *WANT* low numbers to be referenced. That said, the _real_ *Gini Coefficient in the US is .519.* You can do the equation yourself to verify, or check Statista which has no political or corporate interests influencing the numbers.
    This was never a large problem in the US until the passing of the Shareholder Revolution Act in 1978 which laid the foundation of the joke of a system we have in place today. Up until 1978 employees were typically minor shareholders in the companies they worked for and actually had as many as *THREE* seats on the Boards of the largest corporations in the US. Whether GE in the early 1900s or GM in the mid 1900s. In addition, the average employee made 1/20th of the owner/highest paid executive in publicly traded companies. Yo can literally pick random years, like 1950 and see that the GM was the largest employer in the US. The CEO made 20.3x that of the average worker. 1903, GE, 20.1x. Basically every year is like this save 1928, 29, and 1930 if memory serves.
    These Bills were so full of nonsense that people thought were good at the time it's ridiculous, Employees were basically bought out of their share of the company to be reinvested into the company and paid higher wages. We had some fantastic things that had nothing to do with the title of the Bill like "No Fault Divorce", Union Busting laws (because Unions take far to much of the employees money), Corporations being treated as an individual when it suited them for tax purposes, and as a corporation when it did not. Limited Liability laws while introducing what is now commonly referred to as *"Super PACS."* So now average employees have less to no votes in Board of Directors, the have limited to no Union Representation, over 50% of households with children only have one Biological parent in the household, over 50% of Single Parents are not remarried/coupled and therefor only have one income, corporations are far less liable for injuries on the job, insurance plans have gone from inexpensive and covering everything from the common cold, to a broken leg, to 90 days in rehab facilities to paying the employee 90% of their salary for life if they are injured as life insurance was also included in 93% jobs from 1890-1978. Basically the entire Bill was a one time payout to employess to give up their rights and voice forever, and we are certainly seeing the effects now.
    Remember, from 1890-1978 the average CEO made 20x that of the typical non-executive employee in the largest companies in the US. Now? We don't even have to go to the Facebook's, Alphabet's or Amazon's to find ridiculous numbers. How about "Gap", you know, the clothing brand? Art Peck is the CEO. He makes a paltry 2900x that of the average employee, and that was in 2018. We could switch to Amazon whose CEO is actually one of the lower mega corporation's in regards to wealth disparity, as he only makes 1,234x that of the averagfe worker. In 2020, though Jeff Bezos only paid himself $80/y, he made 123,119x that of the typical Amazon employee, making as muc in 11.5 seconds as the median employee's salary.
    Also, going back to the Roman Empire, *NO EMPIRE,* not one, has survived 25 years with a Gini-Coefficient over 4. Every one either lost a major War, was torn apart and had the government overthrown via Civil War, or they simply collapsed, taking decades, if not centuries to become a First World Empire again, and none have retaken the _Throne,_ so-to-speak, as the leading *Empire* of the world. So forget Crypto, we have been in economic crisis since 2005, and the average length before the loss of *Empire* is 19 years. So by historical measures, we are, for lack of a better word, fucked if something doesn't change. Oh, before I forget, the Gini-Coefficient of the Stock Markets is .93, which is worse than Crypto by a good margin. We can thank the *Shareholder Revolution" for that as well, since employees rarely own more than a pittance of shares in their own company, and Pension Plans that typically provided a higher annual dividend than the person's salary have turned into everyone's favorite 401k's. HMO's, 401k's, it's no wonder the average executive of *EVERY* publicly traded company in the US is over 300x that of the average worker. It's pretty disgusting really.
    Grant Hayden and Tim Bodie wrote a _decent_ paper that touches on parts of the Shareholder Revolution focusing mainly on wealth maximization by minimization of employee's. I believe the title is "One Share, One Vote, False Promises" or something to that effect. It's by no means a thorough examination, but it's more detailed than what I've written, but far, far less extensive than the actual Bills themselves, and all the Bills they opened the door for. Lol, that's a Rabbit Hole even you most likely don't have time to go down. I believe _"Black Pigeon Speaks"_ (Felix Rex) also made a video about it back in...2018 maybe? Not to long ago, and it does a very good job of touching on a great deal of the details while keeping it relatively condensed; which considering it consists of a millenia of history and about 15k pages a legal babble is pretty impressive.
    Anyway, kep diving down those holes, I'm still waiting for you to do a deep exploration of Roblox and Child Exploitation; maybe someday, and hopefully by shedding light on the Gini Coefficient in the US more people will become aware of the actual threat this much wealth disparity is to not just our way of life, but our Sovereignty as a Nation. I'm pretty fond of the States, and I know we aren't going to go along with the 9'/7' pods thing while eating bug paste burgers in the Great Reset, so hopefully if "The Davos Group" can't figure out a solution, we can elect people that can.
    That's the one great thing about the US. The other *Empires* didn't have the built in safeguards we do, so we could change our government back to a Democratic Republic for the people, by the people, as opposed to the insanelt crooked version of Capitalism we currently live under. Oligarchs are pushing Socialism and UBI for a reason, and it isn't to give up any of their wealth. They ask us to conserve gas and oil but produce over 90% of the nation's carbon emissions. .03% is reponsible for 90% of the pollution, that's an issue. They keep trying to repeal or limit the 2nd amendment hile they have people with guns around them 24/7. It's not really conspiratorial to ask "Why are you doing everything you're telling us not to? If we make these concessions for the betterment of the planet, what are you willing to give up?" If their answer is nothing, then we should really think about voting for populists regardless of their party affiliation, as the wealth gap is increasing every year, no matter what form of wealth or monetary system we, or the FED has in place.

    • @Athyxion
      @Athyxion 2 роки тому +3

      Didn’t read and won’t read.

    • @darrelsteinberg4127
      @darrelsteinberg4127 2 роки тому +6

      @@Athyxion Then don't comment.

    • @winston1604
      @winston1604 2 роки тому +2

      Best comment.

    • @galtsghost5298
      @galtsghost5298 2 роки тому +2

      Wow, yeah, best comment. Thousands of poorly to semi educated comments on "Crypto BaD" and you throw this down. Did not expect that Thanks.

    • @rainydaygirlz
      @rainydaygirlz 2 роки тому

      "Unions take too much money"
      Nope. Plain and simple, nope.
      Bosses take too much money. The benefits gained by unionizing like increased pay that more than makes up for the union costs far outweigh any small negatives unionizing brings. It gives power and wealth to workers and if you think union dues are really that bad then you probably drank the corporate Kool-Aid.

  • @tomwills1163
    @tomwills1163 2 роки тому +4

    Also worth noting Crypto doesn't act like digital gold but rather a leveraged S&P500 position.

  • @theknifeman7097
    @theknifeman7097 2 роки тому +2

    Can you spend it without electricity? Can you use it if the powers that be decide to freeze your account? People will always need physical currency.

  • @benellenberger5610
    @benellenberger5610 21 день тому +3

    What about Bitcoin? Yes, the broader crypto tokens are mostly just a gamble, but Bitcoin is not that way. It's truly a monetary technology that has never been for all of human history. Do the research, and you will not disagree.

  • @Ninjahankin
    @Ninjahankin 2 роки тому +4

    So what's the solution? Just stick to traditional banks and keep cash in a checking account and accept the 7.5% inflation loss?

    • @ChillLee24
      @ChillLee24 2 роки тому +1

      Yup be a good little worker bee

    • @yodison666
      @yodison666 2 роки тому +2

      Yeah he's full of shit. There's plenty of ways to make money for him to think it's only for the rich shows he didn't diverse his portfolio during 2012

  • @Miranox2
    @Miranox2 2 роки тому +8

    Crypto is the monetary equivalent of anarchy and has similar problems to anarchy.

    • @Blazs120gl
      @Blazs120gl 2 роки тому

      I also see them having a robbery/expoitation economics. They have zero consideration on sustainablitiy or competing with existing solutions, therefore they aren't looking for solutuions to actual problems. Everything revolves around networking and constant expansion with lawless stock exchanges for the greedy and the gullible.

    • @Miranox2
      @Miranox2 2 роки тому +1

      @@Blazs120gl That is pretty much how anarchy works too. It builds nothing because it has almost no progress due to constant instability. Humanity remained primitive for over 100000 years until the discovery of agriculture allowed the first state societies to form.

    • @sunakohari8718
      @sunakohari8718 2 роки тому

      you are not very smart

  • @sbojan83
    @sbojan83 2 роки тому +17

    This is what happened with gold and other precious metals.
    Thus is what happened with stocks and the speculative stock market.
    This is what happened with the internet and dotcom boom/bust.
    Crypto will eventually normalize like all other markets.

    • @randallkohn6089
      @randallkohn6089 2 роки тому +1

      Normalize to zero - unless it is backed by something of value, not like it is today - nothing.

  • @banagan4604
    @banagan4604 2 роки тому +3

    You can't lump BTC in with shit coins or even tether. Many alt coins have real application/value and a finite supply. Of course, 90% of tokens are trash.

    • @randallkohn6089
      @randallkohn6089 2 роки тому

      Supply is infinite just like fiat currency just create more crypto out of thin air. 11,000 cryptos approximately.

  • @0xflips
    @0xflips 2 роки тому +1

    "substratum lost more than 1bn" yeah thats not how marketcap works

  • @_oe_o_e_
    @_oe_o_e_ 2 роки тому +5

    Kaiba: *Crypto will revolutionize gaming/wealth distribution/etc, etc*
    Yugi: *How?*
    Kaiba: *dies*

  • @patnev9296
    @patnev9296 2 роки тому +6

    Good video. Honestly echoes the issues from "The Line Goes Up" by Folding Ideas.

  • @baylordiamond8819
    @baylordiamond8819 2 роки тому +6

    like the superbowl ad said crypto will eventually "ceatch on"
    like the vita, the snuggie, the handwitch, Google Glass

  • @mhkpt
    @mhkpt 2 роки тому +1

    Crypto isn't about decentralisation - it's about REcentralisation. It's a sad state of affairs when a pyramid scheme is seen as the best ticket out of poverty by so many people.

  • @director2bob
    @director2bob 2 роки тому +2

    Nice call considering where we are today June 14th 2022.

  • @LichCrypt
    @LichCrypt 2 роки тому +36

    I still believe in the technology. Decentralization is much needed.
    However, you are correct in your assessment. This technology won't reach its true potential until those using it for scams are rooted out.

    • @yezki8
      @yezki8 2 роки тому

      Meaing, BSC must die in order for crypto to move on

    • @Warlitzor
      @Warlitzor 2 роки тому +3

      I don't really know much about crypto to actually try to use it. But I have a mind to think that the only way the scammers would be dealt with is if government forces (the police, etc.) get involved, which would probably defeat the purpose of crypto in the first place which is to limit their involvement in the first place. And right now, we have ads for crypto airing on the Superbowl. Never mind that hand scan thing called Amazon One....from Amazon.
      With the crash of fiat seemingly on the horizon what with our boys in the east not shifting because someone doesn't want them to, it feels like the honeymoon for what crypto once was has actually come to an end.

    • @rainydaygirlz
      @rainydaygirlz 2 роки тому

      ua-cam.com/video/EIWHvPP0U64/v-deo.html

    • @universalsorrow
      @universalsorrow 2 роки тому +1

      why is decentralization much needed though? the luxuries in life we enjoy today in developed worlds is due purely to centralization. decentralization is not a new concept; it's just that like good-on-paper-concepts similar to communism, it doesn't work well in real life.

  • @mishayoutub
    @mishayoutub 2 роки тому +12

    I get that there's a ton of scammy ICO's and other block-chain shit projects like NFTs. But in regards of Bitcoin or Ethereum I'm yet to hear a good argument about them being scams.

    • @segfault_000
      @segfault_000 2 роки тому +2

      Who said either of those two coins are a literal scam? What they are is an unregulated, non-liquid, highly-speculative, volatile investment.

    • @vasme973
      @vasme973 2 роки тому

      Not cool for those who bought when was 60k and now its like 50% off. And probarly they will buy more. Buy the dip, right?😁

    • @axnoro
      @axnoro 2 роки тому

      Ethereum is the mother asshole from which all shitcoins spring.

    • @axnoro
      @axnoro 2 роки тому

      @@segfault_000 You could maybe regulate ethereum since it's basically dependent on what Vitalik and the Ethereum foundation does, but it is impossible to regulate bitcoin.

  • @redlord4321
    @redlord4321 2 роки тому +40

    also for being a currency its really hard to spend crypto on daily needs

    • @Ciborium
      @Ciborium 2 роки тому +2

      Need to move to El Salvador where it is legal currency and merchants are required to accept it.

    • @redlord4321
      @redlord4321 2 роки тому +13

      @@Ciborium yes because moving country's isn't a hassle

    • @SvendleBerries
      @SvendleBerries 2 роки тому +12

      @@Ciborium
      That sounds like something rich people do in order to avoid paying taxes.

    • @Cneq
      @Cneq 2 роки тому +2

      DLT is not a "currency" the idea of a digital currency is one application of the FUNDMENTALS of this entire space which is DLT, just because bitcoin, an awful attempt at a currency, was the first demonstrated use case of this new augmentation of ledger technology doesn't mean it's the only use case.

    • @dedederp2693
      @dedederp2693 2 роки тому +3

      @@SvendleBerries that’s exactly what it’s is, like how they want to all move down to Puerto Rico

  • @TheRubberStudiosASMR
    @TheRubberStudiosASMR 2 роки тому +22

    An absolutely fantastic and important video for the times. I can't wait to see the downfall of this horrible scam.

    • @RealKuty
      @RealKuty 2 роки тому +3

      Need only 2 weeks black out.

    • @richardmusk6119
      @richardmusk6119 2 роки тому +1

      The trouble with that wish is lots of innocent people will suffer

  • @Maxxmentum
    @Maxxmentum 2 роки тому +161

    Crypto likely has value in areas where "trust" needs tracking. Everything else I agree, it's presently the worst in it's public form.

    • @awakeandwatching953
      @awakeandwatching953 2 роки тому +5

      the central banks are prepping for their block chain currency's which will allow complete control of peoples money.. we have been saying they wanted to get rid of cash for a long time and looks like they are prepping to do it now

    • @JoeScylla
      @JoeScylla 2 роки тому +2

      @@awakeandwatching953 Unlikly they will use block chain for their digital currencies, because there is NO reason to use a merkle tree as storage.

    • @maevekelly5566
      @maevekelly5566 2 роки тому

      It only provides "trust" against a sort of attack that isn't really the problem one. The problem is mostly people putting bad data into a ledger not that someone changes it in the middle

  • @stephendavis4480
    @stephendavis4480 2 роки тому +4

    Surprisingly insightful. Was not aware of the wealth centralization

  • @lukaszzylik4437
    @lukaszzylik4437 2 роки тому +24

    If you haven't watched it yet. I highly recommend watching " The Problem with NFTs: Line Goes Up " by Folding Ideas.
    It's 2 hours long and is one of the best videos on UA-cam that explains bitcoin, NFTs and blockchains and why it's all terrible.

    • @havocgr1976
      @havocgr1976 2 роки тому +4

      I ll go watch it.

    • @havocgr1976
      @havocgr1976 2 роки тому +3

      Man, was about to sleep, spent 2 hours watching it, amazing video.Thanks.

  • @radicaIarchitect
    @radicaIarchitect 5 місяців тому +2

    And yeah, bitcoin was less than a thousand dollars in 2013. If you didn't buy its on you and not some nonsense wealth distribution coefficient. No one is stopping anyone from buying or mining 😊

  • @dougiee6589
    @dougiee6589 2 роки тому +1

    the flow of currency is more shadowy than laundering

  • @jjwallnutts
    @jjwallnutts 2 роки тому +5

    *Bitcoin goes up*
    “Yes, I’m rich!”
    *bitcoin crashes*
    “Great time to buy! Buy the dip!”
    Somebody at the top, taught this to the people at the bottom.

    • @vasme973
      @vasme973 2 роки тому +1

      Indeed my friend😁🤣

  • @Wund3rKiin
    @Wund3rKiin 2 роки тому +11

    You spelled taxes wrong.

  • @wangusbeef86
    @wangusbeef86 2 роки тому +12

    The way I see it with Crypto and stocks in general is that the best time to invest... was 10 years ago

  • @np494609
    @np494609 2 роки тому +1

    As a bitcoin investor I can say this man speaks the truth. I don't invest in any coins and am careful with buying too much bitcoin. The truth is, none of these coins except ethereum have delivered any real utility value to users, even ethereum is questionable. It's a game of who can buy in first and get others to buy following the hype train. These apps and blockchains are garbage

  • @jackcarraway4707
    @jackcarraway4707 Рік тому +2

    The golden rule of investing or hedging: if it sounds to good to be true, chances are that's the case.

  • @ryder7634
    @ryder7634 2 роки тому +45

    Investing in Crypto should be on every wise individuals list, in some months time you'll be ecstatic with the decision you made today.

  • @johnnyb3126
    @johnnyb3126 Рік тому +2

    Stack gold and silver ..

  • @tankbustergames9953
    @tankbustergames9953 2 роки тому +13

    Could you maybe do a video about "why social media is the most unsocial thing"
    I feel sometimes technology can work in unintended ways if scale and time is considered. I would argue that social media besides all benefits slowly converges to the most unsocial experience if AI, marketing and other stuff kicks in. I think many of us have experienced that facebook, twitter, youtube were a really awesome way to connect to other people but over the years have become a marketing platform with bots slowly taking over real conversation😛 (similar to dead internet theory)
    I don't know, but I think nobody thought about NFT and ICO scams when crypto was developed, so somehow this is a very similar critical development.

  • @TVBjak
    @TVBjak 14 днів тому

    People say crypto wasn't supposed to be this or that, but the fact that it was created so quickly and easily should tell you what it was for.

  • @elLooto
    @elLooto 2 роки тому +2

    Wow. Who would have thought that used clock cycles have no real value.

  • @kenjo3045
    @kenjo3045 2 роки тому +6

    You missed the entire point of crypto eliminating the middle man and leveraging the playing field. Although not perfect, it completely beats our debt based system.
    Pointing out scams and the idiots that invested in them does not reflect on the entire space. Bitcoin will replace gold and it is yet to be seen what will replace fiat currencies.

  • @DarthPizzaLord
    @DarthPizzaLord 2 роки тому +52

    Congratulations UE on breaking the 500K mark on UA-cam long time coming man...you do great work.. have a great night

    • @rageinthecage3900
      @rageinthecage3900 2 роки тому

      This channel is great.. to the moon with the subcounts

  • @FluffyFractalshard
    @FluffyFractalshard 2 роки тому +1

    whatever the mainstream pushes, run the other direction!

  • @JustChillingOnTattoine
    @JustChillingOnTattoine 11 місяців тому +2

    So refreshing to listen to someone with common sense about crypto. Thank you!

  • @LTrotsky21stCentury
    @LTrotsky21stCentury 2 роки тому +4

    Now we know what happens when currency is unregulated. Actually, it's the third or fourth time humanity has learned this.

    • @nein3405
      @nein3405 2 роки тому +1

      "has learned this" is a very optimistic statement

    • @tatersquad2000
      @tatersquad2000 2 роки тому +4

      Exactly, the government knows best and we should trust them to manage our wealth.