8. Public Policy
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- Опубліковано 28 вер 2024
- MIT 15.S12 Blockchain and Money, Fall 2018
Instructor: Prof. Gary Gensler
View the complete course: ocw.mit.edu/15...
UA-cam Playlist: • MIT 15.S12 Blockchain ...
In this session, Prof. Gensler discusses how public policy relates to blockchain technology and crypto finance. The public policy framework guards against illicit activity, provides financial stability, and protects the investing public.
License: Creative Commons BY-NC-SA
More information at ocw.mit.edu/terms
More courses at ocw.mit.edu
"Ultimately who sits on the job, mattters" SEC Chairman, Gary Gensler.
Jon Gordon boy were you wrong
Gary Gensler is the OG
When you mine (Bitcoin) it's treated as income, but you claim your cost of mining equipment and power usage as your cost basis to get the actual profit for a given period of time.
Great insight into why regulation may have a role in the world of cryptocurrency, and that the issues faced might be way more intricate than most of us retail investors might have imagined.
Lecture starts 13:58
This content is so good! I hope the crypto community can form a coalition to influence policy toward some collective ideal. I worry that, given personnel is policy, these people won't have the knowledge or understanding of what they're writing policies for and we'll be left with a system that is far from the ideal.
1:10:50 was hoping someone would say "lobbying" was at the top of public policy.
Mr Gary is a champ . Thank you 🙏
Original Genslers
Price transparency .... think of $GME
This comment will be reviewed years later!
If you observe from last lecture, views have been doubled in this one... Cold Calling Effect.
Thoughts on El Salvador's recent Bitcoin policy as it relates to discussion in this class??
My fuckin thoughts exactly! Most of his classes could be classified only as speculations rather than concrete arguments. El Salvador is plagues with gun violence and its ever expanding black market, although its president may be a cryptoboi, he is still trying to crack down on illegal activities even the nation is dealing with a huge debt. There's nothing to take away from this to help El Salvador cuz the lecturer's argument and content is too Americanized, rarely works globally
OG
Original gangstaa
It is like a craps table at a casino but alot more sketchy because the price of cryptos can go to zero or up fast like FTX ,and it's gone so you might as well go to a casino.But for insiders or those that run the cryptos can siphon off money to live in the Bahamas or Switzerland that also has a bank failure probably tied into this cryptic system .Does a duck float ,yes .Does a crypto float ,yes until it doesn't.
52:39 Crypto leverage, often times 100:1
MIT guys pretend not to know dark market?!
Prof. Gensler pretending like the US navy didn't create the TOR browser.
deniable plausibility
Я Вас вспомнил и узнал.... Э т о Валерий
Saw this in my recommendation
Thank you
I wonder why the concept of "intrinsic value" in itself was not challanged in the class. In my view, nothing has "intrinsic value": the value of an object or service is always relative to a huge number of factors (location/demographics/time of day). Perhaps I misunderstand the idea of "intrinsic value", but even something like a piece of steak is not intrinsically valuable to everybody (not to those who are already satiated, as well as those who are vegetarian).
In other words: I feel that value is always part of a relationship, and to say that something is "intrinsically valuable" is to ignore that relationship. Everything is extrinsically valuable insofar as it provides utility.
I agree, monetary systems are an extension of human relations
Gary did say 'Issuers' and NOT 'insurers' but he's thanking the other guy for correcting him. lool
He made the typo "insurers" instead of "issuers" on the first bullet point of the slide...
is this gary or rob
Who else is watching this after the FTX collapse?
31:05
They want tax paid at source?
1:11:30 “If you don’t get your message right, you never get to your analysis.” Chairman Gensler should be running the Democratic Party.
one word: Dogecoin :)
bought the top? lmao
Gary whitewashes transparency of goverrment in health care...lol
teacher's volume is so low, very hard to hear. I hear better to students.
XRP is not a security.
Gary learning the meaning of "OG" was the best part of the class.
He was OG before we had the term OG
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@@lennon_richardson ة كَم كَ ة
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@@الرادوداحمدالرصافي احب اكل لحم الخنزير اللذيذ
واحترام المراة
Netflix is outdated. That's the new best show to binge watch right now.
Absolutely what I thought. Actually I'd love them to partner with an academic institution to offer something called Netflix U with many lectures to choose from
Episode 8 in two days
Only 60k views, don't think would make economic sense to try make Netflix quality content for a small % of people who are interested in and frankly not everyone will understand the depth of this. First episode was 3 million.... 8 hours later only 0.06 million people left 😂.
@@JoseRodriguez-xx8hu part of that is due to UA-cam SEO and the title of this video, although I agree that many will lose interest over time due to this being an excellent but tricky and long seminar series
I literally came here after not finding anything good on Netflix 😂
Free knowledge!! Whose still here !?! Let’s get it
31:10 crypto market was so small that year. 2021 hit 3 trillion dollars and now is around 2 trillions. Sometimes we think we lost the opportunities, but this is still the beginning. Blessed will be the ones who believe in this tecnology.
READINGS of each single video: ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/readings/
Tks
Might have to go long on GME and Dogecoin
Thank you for making available such high quality learning sessions here.
Lies again? Drink Beer + Red Wine
Monalisa
"i would argue that even some fiat currencies are volatile" - GG
Interesting how he’s called XRP a crypto currency in his MIT lectures but now that he’s SEC Chairman, XRP is a security. What a steamy load of shit.
He assumed the role in April 2021 but the XRP lawsuit was filed in 2020, so actually looking good for XRP
Xrp is the bridge currency. Bitcoin is old slow and unprofitable
unprofitable for who?
I'm loving this. So grateful to MIT and Gary!
Same here! I think I've never followed a series of lectures online this long with such interest. It's so amazing to have such quality lectures available.
@@chavesshirlei Agreed. I wish there were more certified online courses for blockchain technology and its implications.
3 years later ,the financial stability is walking like a duck with SVB and how about an audit trail of things like FTX moving crypto offshore to Bahamas with ease and apparently no oversight as billions disappear with little or no attention until after its withdrawn.Does this cause a loss in con fidence.And how about money laundering and even political donations,and now it's actually spread into the system causing bank issues and failures in dozens of banks now needing bailouts.
Attendance for lecture 8 Prof. You don't have only 85 students now.
PS. After finishing all the lecture, I want to re watch again to comprehend all concepts you had talked about.
Thanks Gary, great content, well appreciated.
One of us, either the participant in the class or me, does not understand the Howey test. The participant said citrus groves became securities, that's not how I understood it. Howey sells his citrus groves as a real estate investment, while making a deal to stay on the farm and make money producing fruit for sale. I think essentially, actually nothing has changed for Howey, he is living on the farm making money as before, but now he's received a nice lump of cash from the sale, and that's all. Howey doesn't necessarily have any plans to make the real estate deal profitable for the buyers, but I think not only that, could Howey actually reclaim the property with squatter's rights? They would be farming there for years, with permission from the owner
Bitcoin price policy is called Jude Law. Have you watched any of his films? A well-known British actor.
when does he Talk about Algorand?
Thank you MIT & prof. Gary Gensler.
This help me with summary for writing exam 😢😂
Хаккан ВЫ? )
social politic s and public. use on politic s policy use in public. take social policy in politic .use behind s behaver s
it's getting better
The business model of many if not most banks is to do illegal stuff with money and if they get caught, pay 30 cents on the dollar. But Crpytos are know for "illicit activity" .. RIGHT! What about cash?
32:03 a smaller market cap doesn't necessarily mean a reduced systemic risk I guess, connectivity ie exposure is the confounding term
Bitcoin can never be a bridge currency.
Looks like the US crypto policy is a cornerstone and will be eventually a model for the world legal framework. Japan after early adoption on national level now urge for international uniform approach. There are by now all the the spectre of legal regimes for crypto in different countries from total criminal ban like in Iran, Venezuela and China ( except state subsidised Bitcoin mining and Hong Kong based crypto paradise providing capital control free payment channel) up to ignoring entire story like in Russia where they were unable to produce any legislation for years, before FATF asked State Regulators follow through with at least some regulations, as Moscow was far behind all other jurisdictions and did not care much about
1:16:17 his concluding tought on asymetric risk. He says bitcoin doesn't give much upside to somebody in charge of a balance sheet in a company, but could loose is job if the transition doesn't go as planned. Micheal Saylor as the majority of his stake in his company, he had huge upside potential for little risk. Micheal Saylor talk about asymetric fight in the Breedlove's series. Micheal is the maximalist version of Gary.
Thanks for connecting Michael saylor with Gary.
I couldn’t understand can u elaborate
@@maskedn0066 If someone managing funds for a firm like Fidelity or Vanguard were to allocate a hefty position in Bitcoin - there's not much profit to gain in the foreseeable future, if things were to go right. However, if that position were to tank, that same manager may very well kiss his career goodbye. This 'low upside high risk' attitude is an accurate depiction of Gensler's minimalist position. But Saylor, who went long and with a dangerously large stake, can be seen as an 'high upside virtually low risk (because it's just going to go up forever, right?)' type of investor. Saylors the bull, Genslers the bear.
OG = Orator Gary
My colleagues and I are following the policies from the United States and Canada.
Gary Gensler mentions the black markets and the dark markets.
-The PDF file doesn't contain all slides in the video lecture
.
-He was only not right about his anticipation about China, they completely banned Bitcoin
Even the way the mit guys title to the videos is AWESOME 🤞
Hey makani, welcome back you're a millionaire. 😊
Don’t be so shy
Don’t be so shy
…watch this!
😂😂😂
A robotic duck is still a type of duck.
"Let's make America great again" was first used in Ronald Reagan's 1980 presidential campaign.
And better used by Churchill when he said Make Britain Great again
@@ronaldrinker2092
Make Britain Great Britain Again !
Which is what Boris Johnson will be saying when Scotland becomes independent under his watch 🙂
Britain = England & Wales
Great Britain = England, Wales and Scotland
United Kingdom of Great Britain and Northern Ireland includes all 4 nations.
Those incumbents weren’t too worried about breaking the law leading up to the GFC.
I'm making the 1k likes difference. Remember.
Mr burns xddxdxdxdxdxxdxdxd
👍👍👍👍👍👍👍👍
Desing meeting call video
Seems almost Socratic ...
SAWAN 😍😍😍😍
No settlement risk, by bypassing the bank!?
He disappoints.
It’s a “Tax Collecting Duck”
Number bhejo sir
Gary is straight OG
Thank you so much
Mr Gary Gensler good job! And thanks. AMC must shine as it should be. The HFs made a wrong investment and now they must rightly pay for their fraudulent damages.
Why should anyone trust this guy
Credentials
@@dibparada if they we’re good, he would’ve seen all the bs and dismissed this bs law suit especially now 5 months in and no proof of sh**
I would say besides cryptocurrency information, these courses are very profoundly interesting on the subject matter of International economics and finances. #DuckTest
macroeconomics in its entirety is a very interesting topic.