![]() It's also true that major corporate and political players have at the same time cast shade on the grass roots coins and startups whilst also invested millions and branched internal "skunkworks" ops in their organizations in exploring this tech for their own "private" blockchain purposes. One comment I got from everyone we interviewed last night was the love of honestly and transparency in the doco - it's true that crypto and blockchain have evolved from mysterious roots and basements and gone through a hype and collapse phase in 2017-19. ![]() Taking a neutral position on both crypto and blockchain tech, this doco deep dives the history of the underlying tech and then explores the present and future potential. Nonesense to those who understand what money actually is. It also doesn't give Bitcoin 'value' in the same way the dollar is sometimes said to be 'backed by the US government'. There's no questioning the blockchain technology will have applications in the future, but it isn't isolated to Bitcoin. Crypto is the latest get rich quick scheme, but the ship has already sailed. "We know it's going to a million dollars a coin". The film comes across like a pump-and-dump scheme. Similarly, Bitcoin is simply a medium of exchange, in the form of a digital token I.e. The dollar has lost 98% of its purchasing power within a few decades I.e. Money has to be a stable store of value over hundreds of years. But it can also be used as a medium of exchange. Silver is used in batteries, cars, mirrors, water filters etc etc. Money has to be a commodity first, and a medium of exchange second e.g. More cynical promotion, to develop a new industry and user base.īitcoin is currency, not money. In another part of the show, they stated younger people take up crypto much more than older, so it seems he knows his demographic market. Ha ha, funny, but also he's aiming his marketing at younger people without kids. He jokes, that if that 1% turned out to give you total financial independence, to name your first born after him. The only take away I had, was when a guy said that it's better to be in for just 1% of your total wealth and lose out, than not be in at all. Much of it has already been covered many times. ![]() These include Warren Buffett, who famously doesn't have a clue about tech, and Nouriel Roubini, who - besides being an expert on macro economic trends, accurately describing the Great Recession earlier this century when most didn't know it was developing - does have a clue about tech but is famously pessimistic. It provides 'balance' by quoting distinguished but archaic and establishment figureheads. As much as I love progress, I find it extremely difficult to accept their visions as being anything but wishful proposals they want others to bank. This doc has a lot of fluff from promoters asserting bold, ephemeral ideas and plans as though they are true and the 'next step' in shopping, social media, distribution networks, and money. I still see little in crypto, except a way for people to somehow profit from promoting themselves and their hustles. ![]()
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