Bitcoin, De Beers and Other Fraudsters | Christopher Titus Podcast Clip
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- Опубліковано 7 кві 2024
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#trump #donaldtrump #melaniatrump - Комедії
You have no idea how happy I am to see my politics line up with Chris Titus. I watched your show on Fox growing up.
Same here
Yeppers.
Agreed
money in general is a construct. whether it is gold, silver, copper, dollars, whatever. It only has the value that people think it has.
You can see the value of that paper by the economy and health of the country
I wish that were completely true. If it were, I have a $1 bill that's worth a trillion dollars. 😂😂
@@evanpatterson7098if the masses think it , then it will be
@@evanpatterson7098 people, not person.
Holland had Tulips. 😂
It's like Truth social.
Truth social is purely worthless and nobody gives it any value besides the narcissists who run it. Bitcoin is given value by people who invest into it, even if it's more imaginary than anything said on that third-world social media site.
Scamming 101: It always take real money to get fake money 🤦
They (?) created the monster now the monster is on the loose and hungry. Let them (?) fix it. Eat the Rich..... ✌️
If you believe the 3¢ baseball card is worth $10,000 then it is to you and the insurance company.
Technically, you could've bought a baseball card for that amount and it could be worth much more. But that relies solely on the demand for the card when nobody buys that anymore so any company that gives value to it at that amount is as fake as a $3 bill.
@@RiptornRory OK so if I ensure my baseball cards for $10,000 with the insurance company and my house burns down, the insurance company gives me $10,000. Because that’s the amount I’ve been paying on. That’s how insurance works. Has nothing to do with demand.
If you're the only one that believes in that value, then no insurance company is going to cover it.
@@nonaboccalupo7733
Correct you pay a premium ($$$) for a stated value which generally comes from an appraisal.
Why does every jewelry store have 10 times as many diamonds as any other stone? Because they are the most plentiful stone on the planet😂
And with today’s technology, they are also manufactured.
not hardly
@@user-mw3mb2uv8n And the manufactured one look great too...:)
@@thehellyousaythey control the value of diamonds by limiting the amount they release. Diamonds are so abundant it's not even funny.
When you're buying, they're super rare and highly valuable..... When it's time to sell ....it's a pc of junk i'll give ya two hundred dollars.
when you "delete" it, it becomes a delete packet..hidden from "your" view.
Tulip bulbs went for the modern equiv of $750,000/ea..once upon a time.
Diamonds, bitCoin,..Tulip bulbs? Sheeple always exist to be sheared.
Don't forget tithing. That's 75% of the wool right there.
Wait...it used to be TWO months salary for a rock. When did that change?
I think it has something to do with cultural stuff, my buddy is from an old italian family, and he was told 6 months. I told him he was crazy...
Inflation
Whenever they think they can get you for more !
A coal ring it is
I wish her brother could find the missing secret service texts. That got deleted right after Jan 6th!
I’m quite sure they already have them ! Just waiting for the lies to pile up before they lambaste them .
And the Epstein List!!!
Assuming they exist (or existed) what would you expect them to show?
For real!
@@andrewvelonis5940 Man they definitely “existed”. And being that they “lost them” right after Jan 6th. I suspect it has inside info about Trummkopf’s insurrection.
It is fucking hilarious that people who say the Federal Reserve is a scam *trust* crypto currency
Technically the home of 1's and 0's is not the internet but the computer since machine language was around before the internet ~ Dennis
I love meme tokens season!
I was listening to the podcast on my drive home today love you three. I wanted to comment on this in particular I'm a jeweler and graduate gemologist working as a appraiser right now but I learned everything at GIA about De Beers who had office's just a few floors above us how they bought up and owned 80-85% of rough diamond distribution or as we call it in the trade the "diamond pipeline" for over a century then around 2000 that decreased to around 60% now they are sitting at around 29% with ALROSA the Russian diamond company controlling the largest marketshare currently in the industry but they have a lot of sanctions on them because of the war but De Beers have been stockpiling diamonds the entire time so they could control the price of diamonds the entire time and with there stockpile they could give every person on the planet about 3cts in diamonds just a little fun fact
We have a fiat currency. It cracks me up when I watch advertisements about buying gold.
I’m still confused about why the bit coin crap takes so much computing energy…? It’s actually terrible for our environmental future.
Think of the entire global banking infrastructure and then calculate the massive energy consumption.
Bitcoin miners don't even come close.
OG bitcoiner here...and I absolutely agree. Bitcoin uses "Proof of Work" (PoW) to verify transactions, where all the energy wastefully goes. Ethereum (2nd most popular chain) has converted to "Proof of Stake" (PoS), allowing coin holders to verify transactions instead of PoW's guessing of random numbers to match/group transactions, and using a tiny fraction of the the total energy.
Most new chains now use PoS, but there are some solid arguments for PoW because miners are mobile, and can travel where energy is cheapest creating economic energy to such places (e.g. Iceland & El Salvador's cheap geothermals). Beyond that bitcoin/PoW mining using only renewable energy turbocharges the economies of scale for renewables. In the end, I'm still highly invested in crytpo, but only PoS chains nowadays.
Cash is king.
Not anymore..... inflation is whipping you clean!!! Look at "Purchase Power"
Now you tell me!!
when someone says _HODL_ ---- I run
❤❤
lol
The scarcity of... nothing...
You guys should listen to Ren's Money Game Part 2 regarding the diamond scarcity.
they said the same thing when we went off gold backing and gee its still working just fine
The first 30 seconds made me fall in love... 😍😍😍
PEDOMON 👍 Gota catch them All.
I just think it's funny the people who don't understand that "cloud" is just an internet connected computer that you don't own. You're saving your most private stuff on somebody else's computer, and trusting that nobody except you will get to look at it.
Give me your money and I'll give you thanks! Hahaha!
Laugh all you want. You will be left behind
Stay out of peoples behinds😂
The standard used to be two months salary.
So three tsp of salt. Got it.
The dollar has some value due to stuff like the net worth of the USA and oil and its people and so on.
the first red flag I ever had with Bitcoin was when the dark web was the only place that accepted bitcoin as payment. The speculators latched on to it and here we are. It will go away in a spectacular fashion after a time might even take the real economy down with it.
Bingo!
99% of any use for bitcoin other than speculative investment - is criminal.
Laundering
Paying for illicit goods
Extortion
Bribes
Most people's only transaction for bitcoin is to pay their ransom to get their crypto locked computer or server files back.
Unless you can go into a coffee shop and buy a drink with it, it is not a real legitimate currency.
Backed by Ones and Zeroes? Wtf? No.
They have no idea what Bitcoin is. That's OK.
that was a joke.
"SOUND MONEY" = the Sound you make when you realize you paid good money for fake money.
It used to be 2 months salary for a ring
A greedy woman made that ish up! I personally prefer smaller rings or jewelry in general.
Just had a commercial for scam body soap from Dr squantch
Why buy her a diamond if she isn’t going to live forever?
Elizabeth Taylor just farted in the grave😂
golden boots and the de beers plus other unfairly tales
Bitcoin has values as long as people believe it has value. The US dollar isn't backed by anything, but has the word of the US that the money is good. Basically it's backed by the government.
Like NFTs?
@@accuratealloys Exactly
2014 called and wants its Bitcoin jokes back.
Excellent point that Bitcoin is not good for committing crime since it is totally traceable.
Fiat will end
It is best to think of money as an IOU
It is easier to carry around a pocket full of coins than a bunch of chickens
The value of money does really come down to how many chickens we accept that it is worth
Your true weath is the cash you have in your pocket because if the power goes out your atm credit card won't work
Currencies, regular and crypto, only have value if people think they have value, even the US Dollar, a very popular currency.
Bitcoin… for the generation who thought Beanie Babies were also a sound investment.
Our dollar is backed by millions of people going to work and adding value, a giant amount of farm, mining, industrial assets, and a fierce military that will open a giant can of whuppass on a moments notice.
Faith is a funny thing
You believe that
LMAO
Diamonds aren't forever. They're flammable, of all things!
I saw an interview with the guy that invented bit coin, I can't remember his name, but he was Australian and he was not happy about the interview, he said that it was the one and only interview he was going to do.
I. equate bit coins to "the empires new cloths" only smart people can see this pile of invisible coins
Money, Paper money, is backed by an assumption of value by the marketplace.
I will never understand it.
It's totally understandable to me know literally nothing about BTC
But ya can always learn.....
Bitcoin University...
How do you buy bitcoin, real dollars buy it. Its a ledger to track transactions and some crazy cost of electricity to "Mine"
It's validating transaction hashes.
so we don't know who came up with this? do we actually understand the tech ?
Just FYI, Windows, Linux, and OS are all nothing, too.
We can disagree about the risks and benefits of paper money not being backed by precious metals until the sun burns out, but at the end of the day I would rather have my money being regulated by experts than by nothing at all.
Ah ..krogers brand Bill Burr😂😂😂
That 3 month salary this has been around since the early 90's
You all sound as confused about Bitcoin as people sounded talking about "The Internets" in 1992.
I have a fantastic slogan for Biden, you ready?
'I'm Sliden with Biden' . The younger voters will know what that means, when you slide with your bros that means you're with them, it's ride or die It's a Bay area type slang for rolling with your boy boys, AK your homies I'm sliden with Biden.. I think that would be a good campaign slogan for the young voters
The real effed up thing about this bitcoin thing is that it is about as solid as any currency we have in the world. I don't know if there are any "tied to anything" currencies out there, but I do know most of these have been "let go". While most currencies were tied to something, usually gold, they no longer are... And it is a scary thing. Anything you said of bitcoin goes for pretty much every other currency as well, well maybe not the traceability, but other than that.
Tell us about the stock market manipulation 😂.
De Beers is a cartel and cartels are not allowed to do business in the USA. That is why diamonds are bought wholesale outside of the USA, like Antwerp and brought back in around the law.
Actually, all currency is only backed by the trust people have in it. A banknote is just a piece of paper. Some tribes would exchange sea shells. Even gold has value only because we all agree to give it value. Gold is not really useful for anything much except for making shiny ornaments we call jewellery. The word credit comes from the latin "credo", belief. It only exists as an abstraction one has faith in. Currency is just a way of keeping track of the exchange of goods and services that do have value. Just like you informally keep track of who is a good neighbour and who isn't. You remember when some neighbour helped you shovel the snow from your driveway after you helped him fix his car and thus there is a fair exchange of help.
I'm surprised the great pumpkin hasn't starting selling Bitcoin.
He's too poor
Bitcoin is worth $63,000/ea. It made me rich.
@@isthattrue1083
Oh, but, but, he's saying he's a billionaire until he has to put his money where his fat orange mouth is.
I don't understand why Matt Damon supports Bitcoin
On the 'cloud' and deletion: Well, I guess I'm too old. I've never used my phone in any way that could put me in jail, but I also don't set it to store any media (songs, images) on the 'cloud', so technically there's nothing to find of me there.
Also, I'm an Old Man, so I don't use that darn Twitter-Bird or Face-Tablet thingies (i.e., no 'Social Media' accounts). I was born with my 'Social Media Device'......although its in severe need of repair......anyone know a Good, Cheap dentist? 😅
One person, tell me what the US dollar is backed by.
Debt.
Labor in a service economy.
In the old days it was backed by gold. A silver dollar was made of nearly one ounce of silver and had the buying power of a $20 bill today (nickels and dimes broke up a silver dollar the same way you break a twenty to get fives and ones today).
(Natural) inflation isn't about prices going up-- it's the money we have becoming less valuable as time goes on, more people are born, and we scratch more metals out of the ground.
Bitcoin is like Big foot, UFO's, mermaids and The Lock Ness Monster, some people claim it's real but we know it's B.S.
Dollar isn't tied to anything, that's the only thing you can pay your taxes with though...
Bitcoins "backing" is essentially the rounding errors of online transactions. Its mostly bs and speculation in value though.
I just started to get into Crypto, from what I’m understanding is that you’re putting investment into stocks of a company, and that the value of that stock stays the same when you’re trying to use it in international markets. You don’t have to worry about foreign exchange rates, except just the difference in the value of the stock between companies
History of paper money. They said the same thing about metal to paper
Is Biden going to be even more progressive this year, I've really truly think he cares about the constituents of the boy boy Big Bernie
Satoshi Nakamoto created Bitcoin.
If you invested in Bitcoin thinking it was crap and still did it you deserve to lose
Tuned into this and the ignorance about Blockchain is annoying. This is Fox News level stupid.
Funny thing about bitcoin: money is fake, we made it up. This was such an obvious scam, I actually insulted my friends and family for falling for it, since they spent the prior 4 years insulting me for calling it a scam. Know what investing in bitcoin got them? Jack and shit, but Jack left town weeks in advance. Now they act like none of it happened in the first place. Which is just golden to my petty ass lol "sorry, I couldn't hear you over the sound of your cope flavored juice spilling all over the floor."
Money is created by, and backed by, debt. Debt is an idea that exists only in your head. The dollar was always made up. Backing it by tying it to a commodity is circular logic. Because you are valuing the commodity with money. Gold, for instance, only has its scientific properties that are of value. Our socioeconomic system is essentially a game. With the rules created by the winners.
Bitcoin isn't a fraud
Say what you want about crypto, it's changed some people's lives for the better. I've paid down a lot of my debt with by DCA my spare change. It doesn't take a lot of money to get started. I'm glad I didn't listen to people who told me it was a scam.
Our dollars are backed by the United States military. That's it in a nutshell.
Bitcoin could have worked, but the big banks didn't like it and started a campaign against it. It didn't help that grifters also joined in, but everyone should have expected that. If they hadn't, the banking interests would have gotten someone to do it.
BTW, OUR DOLLAR is backed by the USA! What's worth more to you? Gold? Or the strongest country ever? Remember we bought the Louisiana purchase on the strength of Wall Street. (Even though Jefferson HATED Wall Street.)
Its value is backed by the worlds largest amount of computing power and growning every day.
RESEARCH RESEARCH RESEARCH RESEARCH ASAP!!!!!!!!
If you guys wouldn’t print more dollars each day, the story would look different too.
I have more trust in BTC at this point than the US fed reserve for example.
The supply is limited, not one coin more can be created.
The rich just dont like the fact that the poor also were able to cash out and make a buck.
Bitcoin is here to stay, thank f for that.
What many people miss is the innovation of the network. I can send bitcoin to anyone in the world, peer to peer, no banks needed, anytime, at a fraction of the cost of traditional means. With the Lightning network, it's even faster and cheaper.
the fact that there's a fixed amount of bitcoins means that right off the bat, it's impossible to make money off of bitcoin without someone else loosing money. the only reason cryptocurrency sees any success is because some people feel a need to be special, and from what I've seen such people are one of the easiest types to con in the world.
BitCoin is an invalid currency and should never have been allowed to grow to the point it is at to start with. Every last kiosk should be hauled off all on the same day. Call it "Mart-Shall Law" Or as Wilma and Betty would say... *"CHARGE IT!"* (One of my favorite Flintstone lines).
Ahh the currency is not technically imaginary. It has some value, and that value is based on the “goods and services” in the United States. If it is not back by anything, then at the core, it is backed by a demand to obtain a product of goods or services from the US that can’t be obtained somewhere else. The higher the demand for something in the US, the value of the money goes up.
Inflation occurs when two things happen. One the value or demand of the money goes down. two, the supply of the money (printing out more money just like Steve Manuchin did under the Trump Administration) goes up, thus this would drop the value of currency. So in a sense, money is just like monopoly money. The only difference is what you are going to get out of it, and really, the reason why we have “digital money” is to have something parallel the currency of today.
In order for Bitcoin to grow in value, it has to expand on its purchasing power, or it needs money to back it up.
Ummm, 33.5k for a ring.... ya, debeers can eat a giant Deeeck. He'll no, I don't care what BS they tried to sell us.
Yo for real though diamonds are completely worthless Go watch that Adam ruins everything episode about The company you guys are talking about, I promise you it'll change your existence
Fiat currency was created to untethered growth in the economy.
While I think the idea of a non-centralized crypto currency is ultimately a good thing to have, clearly corporations and tech companies have RAN with it and now use it in another way to scam money from people and each other. One innate issue I have with crypto and NFT's is that the people who make them are trying to use money to assign more value to the items then what goes into them. That fundamentally undermines the concept of the cost of labor and if we ALLOW that, we basically give free reign for people to screw over workers and employees even more then we do now. This is the kind of nightmare capitalist concept that Karl Marx was so scared of decades ago.
If a file has been shredded instead of merely deleted, wouldn't it be gone forever? Does everything that's been put on the internet still exist in some form?
Try cashing in your bitcoin after a big bull run...
I did the last time. Cash money.
For every seller, there is a buyer.
There's always a floor in the price, because there's always a buyer.