Mike on Nostr: I'm watching this "Crypto" YouTube video below: It is made by a Crypto agnostic and ...
I'm watching this "Crypto" YouTube video below:
It is made by a Crypto agnostic and show a lot of the scammy side of Crypto and talks to a number of fiat economists and lawyers.
I get the uncomfortable feeling most normies must get about Bitcoin when I watch it.
However, as I watch it, I realise it doesn't explain why Bitcoin came into existence in the first place, probably because the reporter doesn't know.
Don't forget, Bitcoin came into existence because the dollar officially became a fiat currency in 1971, after years of printing notes that weren't backed by gold in order to satisfy the Marshall plan and to compete with Russia in the arms and space race.
Then in 2007/8 the effect of this created the first tremor in the collapse of the financial system.
Bitcoin fixes this.
However, Bitcoins evolution is often compared to the Internet and many of us feel that Bitcoin is around the year 1997 in Internet adoption years.
Remember the Internet bust in 2000.
Of course despite huge scepticism about the Internet's future in 2000, even resulting in a now much shared article predicting the end of the Internet.
A few years later, the boom times returned and now the Internet is as ubiquitous as electricity or running water for most in the west.
I know we're used to huge price crashes as well as pumps in Bitcoin, but perhaps in around 3 years time, after this bull run and in the midst of the next bear run, the price might crash harder than we think and the crypto winter we've just endured may be minor in comparison.
Of course, Bitcoin will win, but we may need to endure another hard winter in 3 or so years time.
https://www.youtube.com/watch?v=I4vi75U0F0k
It is made by a Crypto agnostic and show a lot of the scammy side of Crypto and talks to a number of fiat economists and lawyers.
I get the uncomfortable feeling most normies must get about Bitcoin when I watch it.
However, as I watch it, I realise it doesn't explain why Bitcoin came into existence in the first place, probably because the reporter doesn't know.
Don't forget, Bitcoin came into existence because the dollar officially became a fiat currency in 1971, after years of printing notes that weren't backed by gold in order to satisfy the Marshall plan and to compete with Russia in the arms and space race.
Then in 2007/8 the effect of this created the first tremor in the collapse of the financial system.
Bitcoin fixes this.
However, Bitcoins evolution is often compared to the Internet and many of us feel that Bitcoin is around the year 1997 in Internet adoption years.
Remember the Internet bust in 2000.
Of course despite huge scepticism about the Internet's future in 2000, even resulting in a now much shared article predicting the end of the Internet.
A few years later, the boom times returned and now the Internet is as ubiquitous as electricity or running water for most in the west.
I know we're used to huge price crashes as well as pumps in Bitcoin, but perhaps in around 3 years time, after this bull run and in the midst of the next bear run, the price might crash harder than we think and the crypto winter we've just endured may be minor in comparison.
Of course, Bitcoin will win, but we may need to endure another hard winter in 3 or so years time.
https://www.youtube.com/watch?v=I4vi75U0F0k