Hey y'all, this is Rob, I'm the Editor-in-Chief of Big Think. I see many folks are wondering why we had Kevin O'Leary on to talk about the future of crypto. In my view, one of Big Think's essential functions is to use our platform as a library of perspectives. Kevin O'Leary's opinions and involvement within crypto placed him at the center of one of the biggest financial scandals since Enron. In addition, his opinion on crypto has shifted numerous times, but it's always been delivered within the context of shouty talking head-style interviews. Given that neither the FTX nor crypto stories are finished, I felt it was worthwhile for Big Think to speak with Mr. O'Leary about his updated thoughts, given that they could be relevant in the future and, if he changes his opinion, there's a clearly articulated version of his previous argument. No Big Think video is ever an endorsement of a person's views; it is always chosen with an eye toward opinions worth considering or having recorded. We are obviously always open to your feedback if you think this was a miss.
It was a fun vid. He makes a good point on regulation that I hadn't considered. For now, crypto has the bad rep of being a get rich quick scam but it definitely has the potential to do a lot. I don't think we'll see that until a long time from now
I don't see the slightest credibility in his statements... He supported the scamer and was deceived by him... And I, a small man, who hopes for a fair system, he, and his new friends, will put me under the motto "protect investors" and forbid me from bidding... Hey, isn't it wonderful to support something like that... I rarely comment, but I will not support his words in "Big Think".
I don’t trust him nor do I believe him. He’s pro capitalist, and a hustler. He has way too much experience to had not known that crypto is a scam/casino.
I respect Big Think's dedication to showcasing a spectrum of perspectives, but I think it's crucial to scrutinize the potential effects of these views. The promotion of FTX by Kevin O'Leary led many to invest, and following the scandal, these people are now in financial distress. O'Leary's changing position on crypto, especially his recent depiction of the entire crypto landscape as problematic or ''missing key features'', seems to shift the blame away from his actions. His enthusiastic endorsement of FTX played a key role in drawing a large crowd to the platform. However, instead of recognizing his involvement in the situation, he's casting blame on the wider crypto sphere. While preserving these perspectives for the future is important, holding individuals accountable for their influence is equally necessary. Offering O'Leary a stage to express his views without questioning his involvement in the FTX controversy, Big Think may unintentionally support his blame-shifting.
Despite this, what is the point of getting O Leary’s opinion on this topic? He has surface level knowledge and that is not valued by any of subscribers. Might as well get SBF on this too.
Alternative title 'Kevin O'Leary tries to do damage control and distance himself from crypto after pushing it onto people who have now lost their savings and lots of hard-earned money'.
@@AnimeBeefRandoms She did not say that she lost and it's exactly what this guy does. He should not speak on the matter . He was promoting the scam . Get the point ? It's about HIM talking on FTX . Worthless.
I agree but as I understand he was giving a crap load of shares to promote it. Anyone looking for an investment guru should just invest in an index fund. I don't care if you lost every dime because you invested out of speculative greed.
I started investing about 2 years ago. But with the way things are going, I honestly do not see my self making a million box anytime soon. I trade on stocks but my profit and loss margin are grossly miles apart
It's scary how true this message is. What steps can we take to generate more income during quantitative tightening? Also, on the contrary, how can we profit in times of quantitative easing? Where should we put our investment money now to better prepare for the future and a liquidity crisis?
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
I’m glad this Sam Bankman-Fried got his justice. This case made me sick. He ruined other people’s life savings. And now we have a major precedent for anti-fraud in crypto.
I have the vague feeling, he looked at the 2007 housing crisis and said, hey, I can repeat this without anyone going to jail. And he forgot he was not a bank, not the government.
Quite Shocking to me, A few investors I read about were able to make profits of upto $50,000 monthly, so am I doing something erroneous? please i need some hints on how to make enormous profit>
Agreed, instead of panic or following a hearsay, I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of $650k after subsequent investments.>
I receive financial advice from "Nicole Desiree Simon", a well-qualified and well-established wealth counselor headquartered in California. Her basic information can probably be found online.
Yuck. Advice from the guy who recently said he'd willingly invest with SBF again, after shilling that Ponzi scheme to whoever would listen. A guy who will lend his name to any company that pays him a thousand bucks online (see Cameo/coffeezilla). Probably would be smart to keep a clearer distinction between Big Think and unscrupulous guest speakers.
He did not tell you that he lost Millions and then went and cried to congress and tried to put the blame for FTX failing on someone else. He is not Mr. Wonderful. He is Mr. Greed.
anyone who has done research on crypto knows that if its not your keys it's not your crypto... hard to believe someone like Kevin didn't know this. Questionable integrity..
@@JaysonT1 you mean Kevin was wishful that crypto exchange is safe? Very poor risk assessment given that banks do same over and over. Like literally 101. Banks/Exchanges issue more than they have and then don't have enough liquidity when people wish to withdraw.. Doubt any exchanges hold 1:1.
of course he will make the case for "crypto" is not safe. Making the case for CBDC, which will be government backed and won't have these "safety" issues. Most people will give up the freedom for safety and convenience. - as they don't know any better. Nothing to do with getting rich.
Ah, yes Kevin. Worried about the little guy, are you? All cryptoassets other than Bitcoin are just scams and will eventually go down to zero. I'm sure he's well aware of this fact, but he's going to make a killing on investors until that happens.
@@manpreetlakhanpal9720 yep. He got paid $5million I think, what he is upset about is he lost the other $5 to $10 million locked up in shares. ya I feel horrible for him, a very small amount of his time, for a big pay day.
It's alright, the average investor struggles with when to sell or hold, as for making consistent profit even during a market crash, your best bet is having a professional guide you.
It's gotten especially difficult since after the pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now hehehe
@@EmilyMoore-n7n I'm been guided by "Susan Bauer Normansell," who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Of course it is man. The value is not defined or stable yet. The day it becomes a mainstream currency, then you can say it is not speculative anymore. Until then, people believe that BTC is the future and we’re betting on it.
Oh wow… regulation is a good thing now… ok wasn’t expecting that one from Kevin… he will probably say otherwise the moment regulation helps tons of people but limits his business in other ways
Literally everyone who has been paying any attention for the last three years is aware that some regulation is desperately needed for crypto, just probably not the regulations Kevin wants to 'protect' investors.
Write down the names of everyone like Kevin who promoted FTX and other scams. Then be sure to never listen to what they have to say. Invest in real assets and companies that produce products we buy and use regularly.
EXACTLY 100 % Have people forgot just how bad Kevin did to millions of people ? The FTX scam crypto exchange paid him 10 million + to be a spoke person and the entire thing was a scam. My CPA said it would only take him 30 minutes to identify the scam. So Kevin which one is it you do not know your math or did know your math and were corrupted bu 10 million dollars. In my opinion Kevin HAS NO credibility fox news needs to NOT have him on. Also to make my point about him he was doing those get rich quick real estate courses in USA charging 20 k Kevin in my opinion is a conman that only cared about himself
@@writenamehere0000 No. You just need to buy a few stocks in companies that produce products we love. For example, Coca Cola is $53. PG which creates tide and most other detergents is $143. Anyone can buy a few of these shares.
How do you have an amazing video about Psychopaths with Brian Klass a week ago then turn around and platform a Psychopath? Big Think should probably watch their own videos.
There were a lot of people who didn't knew excatl what they were getting into because of all the lies (not only start up promises) and he didn't knew either, that's what I think.
@@chadester001 While I appreciate you reply, and consider you giving Kevin the benifit of doubt, I highly recommend you to watch his interview with Hasan Minhaj. In that interview he come of as a extremely sketchy character. Once again Thank you.
I think both claims are still being but different people. There is no great difference between, both are trying to promote something that's mostly going to favour themselves. Blockchain technology will be extremely helpful, but not necessarily as cryptocurrency.
Everything about crypto is based on human emotion. It’s a decent concept when used within a framework. But the idea of Bitcoin is in and of itself stupid af.
we have a whole lot of greed in government too! the dis-trust of government is because our politicians are there for themselves and not the people they represent.
O'Leary's statement can be all summed up to: "Everyone who bought into crypto knew it's speculative and the risks of gambling. Crypto still has huge potential and the demise of FTX (and other exchanges before it) does not change that, the same way that the fall of Lehman Brothers and Bear Stearns did not change anything in the long term. The space just lacks regulation and, in the end, no matter how much people say they hate the government, they will always turn to the government in times of crises." No shit, sherlock. That doesn't explain why he kept defending SBF as the collapse was happening.
Well... I used to trust Big Think to bring people on who were exemplars in their field... this guy has a tragic track record, and I wouldn't recommend anyone listened to a minute of what he has to say
"Crypto" is Greek for "hidden", "concealed", "latent", or "closeted", that's how the Greek word "crypto" can be rendered in English, depending on the context. Governments cannot regulate what is hidden from them, if they are able to regulate it they will also be able to control it and manipulate it. Eventually it will lead to complete loss of financial privacy.
3:50 - "If you think about the 11 sectors of the Standard & Poor, the financial services sector is the only sector that services every other sector. You can't have an economy without financial services." Huh? You could say the same about many of the S&P's other sectors - technology, utilities, materials, energy, etc. A strange point that undermines his overall credibility.
Is this a joke of some sorts? "Regulations" may be a problem with crypto, but it is not the #1. Not by a long shot. The main problem with crypto is that it is ENGINEERED to waste energy (in a form of outrageously expensive computing)
The Sarbanes-Oxley Act was literally enacted because of Enron, so no, these past catastrophes didn't change anything. They changed everything, SOX is a big deal and requires a lot of time, effort and resources to meet this regulation
You just taught me a term, thanks:). Got this off Forexpedia: “A dove is someone who favors a looser monetary policy, which means lower interest rates, with the aim of boosting economic growth.” supposedly at the cost/risk of raising inflation.
for those naives kids still subscribed to the idea that "the whole point of crypto currency is to have an un regulated and decentralised monetsry system", you need to wake up. do you exclusively earn cryto at work then exclusively spend crypto on every thing you ever purchase? no? you still need an interface and exchange between crypto and real currency otherwise you'll starve to death even with thousands of btc in your coinbase wallet? then there's no way we shouldn't regulate that exchange, not because crypto currency is involved, but because real currency is involved.
I have a similar investment philosophy to what Kevin O' Leary used to have. When I saw him doing things like releasing an internet giants etf (that doesn't pay a dividend and was mostly in non-dividend paying stocks), I was thinking, "Kevin, what are you doing?" Then, Kevin got on the crypto chain (after correctly calling Bitcoin garbage). At that point I was thinking, "Kevin, what the HELL are you doing?!" I hope he has truly learned his lesson.
You might mock someone with their beef jerky, gold bars and rifle, but when this system built on the sand of infinite growth eventually caves in on itself, you’d better have one of those expensive watches ready as an investment.
He talks about FTX's failure as if it was a normal startup's failure, and the risks involved were just normal startup risks (as if people not investing in the company but just storing money with a startup should even assume such risks). Normal startups don't commit fraud. Fraud isn't just an "oh well I guess it failed" case, it's "somebody stole the money". And Kevin, having promoted FTX without doing any due diligence, is partially at fault. Yes, there needs to be more regulation around crypto, but FTX broke the regulations that were there already. IMO, regulation in crypto will eventually either stifle it completely or make it work more like regular currency, taxes and all.
One thing i don't get O'Leary is as he said " the diconomy of loving and hating the government". Student loan programs he goes ape, employees credits he practicly shouts over the mountains to use. You want low government spending? Then don't have them bail out student debt, small business, big business, banks, or cypto. Let the market be the market as kevin also says.
what qualifies this guy as world's biggest thinker? he invested into obvious scam, and has no clue about cryptocurrencies by his own admission, he even calls ftx a crypto...
I don’t know much about Kevin other than what I see on Shark Tank, but I can appreciate the thoughts and knowledge he is sharing. If you limit whom you can learn from …..well, that’s the problem with the world today. People want their information from their selected sources and that leads to narrow-mindedness.
Kevin trying to build back his reputation is like me trying to be 5 years old again.. I can act like a 5 year old all I wan, but I will never be one again.
The major key was SBF saying Bitcoin wasn’t money & couldn’t be used for payments. He steered unsavvy investors away from the protection of decentralized finance to a security he created controlled & manipulated. Crypto has a problem. Bitcoin does not.
Personally, I don’t believe crypto needs to be regulated any more than it currently is. Rule number 1: Not your keys not your crypto People can invest in what they want. Bitcoin is the only crypto that matters. Will it make you money or loose you money, I don’t know. But if you buy 1 Bitcoin today, in 50 years time you still have 1 Bitcoin. What it’s worth in USD and what that Bitcoin can buy, that it the question.
Incredible! This guy heavily promoted FTX and was a close friend of SBF. He promoted and encouraged small and larger investors to trust and use FTX, and therefore made them lose all their life savings. He is definitely not trustworthy. He just wants to wash his reputation and paid BT to be able to do it.
Stable coin backed by Bitcoin. The most stable coin possible is worth “The global median of one person-hour of labor.” 1. As productivity increases, it gains purchasing power. 2. Inflation/deflation agnostic. 3. No country or organization can manipulate the price, making it a poor speculative asset.
It's not really valid to compare the risks of profit and losses inherent to the free market, to plain fraud. It's like saying "I went to the grocery store to buy some apples but it turns out the owner pointed his gun at me and robbed me. This is part of how it works when you go to a grocery store."
Having being in crypto since 2013, I am shocked to this this guy being represented as an interlectual on crypto and its 'problem'. I wonder how many more of 'surface-level experts' I have watched on Big Think over the years.
absolutely INSANE they are promoting this guy as an expert. Until the fomo he was a major crypto sceptic! He is focusing on "trust" well bitcoin is the perfect TRUST. I don't HAVE to trust anyone that's the point! No one CAN steal it if I don't let them.
FTX's accountant was registered in the Metaverse, it did not have financial documents audited by 3rd parties, so that was not greed only, that was pure stupidity, incompetence and malice...for all the people who invested in it, including this guy.
Don't listen to him trying to spin this his own way. He condemned cryptocurrency as "garbage," then FTX paid him $15M to be a spokesman for it. The man has no scruples at all.
You got 15 million from FTX. That is what you invested. You can spin it. You did not do due diligence accepting the $ and you are in part responsible for people loosing money.
Unfortunately most people get fooled by the the financial experts, advisers and gurus. If you are smart you will learn from your mistake in trusting them and will stop listening to them. The stock markets, commodities market and financial markets are basically casino’s where people try to outsmart each other but in the end the house always wins and there are always new products and new games to play. If this is how you plan to make your living, all I can say to you is good luck! As with any game there is always a lot of bluffing, deception, smoke and mirrors to try and confuse and take advantage of the suckers. The financial experts, advisers and gurus think they have a winning strategy and sometimes they win but just like the players in the casino, most of the time they loose and if they suckerd others to following them with their advice they also loose. The suckers can whine and complain all they want but they will never get their money back. Many of the players try cheating because if they can get away with it they will be considered clever and will usually brag about it. Even if they get caught, most of the time the penalties and the fines are not that bad and they will be free to try again.
My god,the things that this man said to get people to invest!You sir talked about Sam Friedman like he was an absolute genius every chance that you got. You played your part.
Him being an investor is fine. Him going from a cheerleader of this "investment" to further its growth and his own personal stake to now deflect and say he was simply an "investor" is what I find issue with.
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Hey y'all, this is Rob, I'm the Editor-in-Chief of Big Think.
I see many folks are wondering why we had Kevin O'Leary on to talk about the future of crypto.
In my view, one of Big Think's essential functions is to use our platform as a library of perspectives. Kevin O'Leary's opinions and involvement within crypto placed him at the center of one of the biggest financial scandals since Enron. In addition, his opinion on crypto has shifted numerous times, but it's always been delivered within the context of shouty talking head-style interviews.
Given that neither the FTX nor crypto stories are finished, I felt it was worthwhile for Big Think to speak with Mr. O'Leary about his updated thoughts, given that they could be relevant in the future and, if he changes his opinion, there's a clearly articulated version of his previous argument.
No Big Think video is ever an endorsement of a person's views; it is always chosen with an eye toward opinions worth considering or having recorded. We are obviously always open to your feedback if you think this was a miss.
It was a fun vid. He makes a good point on regulation that I hadn't considered. For now, crypto has the bad rep of being a get rich quick scam but it definitely has the potential to do a lot. I don't think we'll see that until a long time from now
I don't see the slightest credibility in his statements... He supported the scamer and was deceived by him... And I, a small man, who hopes for a fair system, he, and his new friends, will put me under the motto "protect investors" and forbid me from bidding... Hey, isn't it wonderful to support something like that... I rarely comment, but I will not support his words in "Big Think".
I don’t trust him nor do I believe him. He’s pro capitalist, and a hustler. He has way too much experience to had not known that crypto is a scam/casino.
I respect Big Think's dedication to showcasing a spectrum of perspectives, but I think it's crucial to scrutinize the potential effects of these views. The promotion of FTX by Kevin O'Leary led many to invest, and following the scandal, these people are now in financial distress.
O'Leary's changing position on crypto, especially his recent depiction of the entire crypto landscape as problematic or ''missing key features'', seems to shift the blame away from his actions. His enthusiastic endorsement of FTX played a key role in drawing a large crowd to the platform. However, instead of recognizing his involvement in the situation, he's casting blame on the wider crypto sphere.
While preserving these perspectives for the future is important, holding individuals accountable for their influence is equally necessary. Offering O'Leary a stage to express his views without questioning his involvement in the FTX controversy, Big Think may unintentionally support his blame-shifting.
Despite this, what is the point of getting O Leary’s opinion on this topic?
He has surface level knowledge and that is not valued by any of subscribers.
Might as well get SBF on this too.
Alternative title 'Kevin O'Leary tries to do damage control and distance himself from crypto after pushing it onto people who have now lost their savings and lots of hard-earned money'.
Needs to be the top comment
yes that's very true. But he's still correct.
haha that's funny. You lost the money, not whoever you want to push blame on 🤣🤣
@@AnimeBeefRandoms She did not say that she lost and it's exactly what this guy does. He should not speak on the matter . He was promoting the scam . Get the point ? It's about HIM talking on FTX . Worthless.
I agree but as I understand he was giving a crap load of shares to promote it. Anyone looking for an investment guru should just invest in an index fund. I don't care if you lost every dime because you invested out of speculative greed.
It's like having a bank robber on to explain that banks should have better security - and then the baddies won't rob them.
@@MikJames look at the ones who invested with ftx including kevin.
That's a legitimate narrative. The people that can teach you the most about bank robberies are successful bank robbers.
If they explain how and why in details i would watch 🤷
o'Leary isn't the man who robs the bank. He is the one who tells you that bank robbery needs more regulation.
@@john-paulsylvester2382 After a very successful and lucrative career as a bank robber.
I started investing about 2 years ago. But with the way things are going, I honestly do not see my self making a million box anytime soon. I trade on stocks but my profit and loss margin are grossly miles apart
It's scary how true this message is. What steps can we take to generate more income during quantitative tightening? Also, on the contrary, how can we profit in times of quantitative easing? Where should we put our investment money now to better prepare for the future and a liquidity crisis?
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
INTERESTING! ! can u share more details?
Cant reveal much info, she is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
I’m glad this Sam Bankman-Fried got his justice. This case made me sick. He ruined other people’s life savings. And now we have a major precedent for anti-fraud in crypto.
I have the vague feeling, he looked at the 2007 housing crisis and said, hey, I can repeat this without anyone going to jail. And he forgot he was not a bank, not the government.
Quite Shocking to me, A few investors I read about were able to make profits of upto $50,000 monthly, so am I doing something erroneous? please i need some hints on how to make enormous profit>
Agreed, instead of panic or following a hearsay, I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of $650k after subsequent investments.>
Impressive can you share more info?
I receive financial advice from "Nicole Desiree Simon", a well-qualified and well-established wealth counselor headquartered in California. Her basic information can probably be found online.
This guy personifies everything that is wrong with the monetary system
tru
Commonsense Skeptic has a very good three part documentary on Kevin O'Leary here on TH-cam. It's called Debunking Kevin O'Leary. The Man is a fraud.
Rich guy propaganda to run cover for why this guy isn't in prison.
@@20cmusic yes
@20cmusic let's hear your argument against bitcoin then.
Yuck. Advice from the guy who recently said he'd willingly invest with SBF again, after shilling that Ponzi scheme to whoever would listen. A guy who will lend his name to any company that pays him a thousand bucks online (see Cameo/coffeezilla). Probably would be smart to keep a clearer distinction between Big Think and unscrupulous guest speakers.
Yeh ! His "big think" was obvious from the start, Crypto technology can be useful, but no government would let currency be out of their control.
When they are on a gain roll, the regulation is bad. When shit happens they beg government for regulation
Amen! He is such a narcissist that he thinks babbling overshadows this basic fact.
Don't trust anyone calling himself Mr Wonderful 😂
He did not tell you that he lost Millions and then went and cried to congress and tried to put the blame for FTX failing on someone else.
He is not Mr. Wonderful. He is Mr. Greed.
Kevin got paid 15 million and did not use his own money. He's a liar. Had he lost his own money, he would have wanted off with FTX head.
Mr. Not-So-Wonderful
So, like all finance investor a.ka mr. Moneybag?
And Mr Bullshit lol
He didn’t lose anything lol he only invested what FTX paid him to be a sponsor so it wasn’t really his money 😂
Startup yes, but he stood by them and pushed it on many people
Oh so are most startups just giving out personal loans with clients money that is entrusted to them? 😂
@@technolus5742 Oh so you need to read the comment to better understand. 😂
@@bradonlee9832 My comment was not super related to the op's comment, nor does it intend to disagree with that comment.
Could it be because SBF paid for his "Wonderful" endorsements?
Why is Big Think risking their reputation by giving this guy a platform? He's a grifter who understands everything at a surface level.
This. He is a hack and a fraud. Don’t give this guy airtime please…
Might as well interview Gensler
100% Big Think dropped one basis point thanks to Kevin.
Maybe next have Andrew Tate speak about masculinity 🤮
I came here to express the same opinion.
@@DealerIgnitionTrue. If this is the level of scrunity they perform while choosing their guests, I am disappointed.
This man has not earned the right to be on a program of high integrity.
Big think just lost all credibility. Michio Kaku and other ideas that have been exposed here are universes apart from this guys ulterior motives.
Thank goodness that's not what this channel is
Mr Wonderful? WTF?
@@happykillmore349 Sally Jessy Raphael. Now that was some high integrity tv.
Ohh Kevin ... just keep quiet after this huge blunder.
anyone who has done research on crypto knows that if its not your keys it's not your crypto... hard to believe someone like Kevin didn't know this. Questionable integrity..
Sounds like wishful crypto investor thinking
he did he just fudding
@@JaysonT1 you mean Kevin was wishful that crypto exchange is safe? Very poor risk assessment given that banks do same over and over. Like literally 101. Banks/Exchanges issue more than they have and then don't have enough liquidity when people wish to withdraw.. Doubt any exchanges hold 1:1.
anyone who does real research on crypto knows it's a fucking ponzi scheme joke.
Kevin got paid 15 million and did not use his own money. He's a liar. Had he lost his own money, he would have wanted off with FTX head.
I used to like Big Think but this is a low point.
This screams of 1%er bullshit. He tanked crypto but sees the opportunity still so now he wants to regulate it to his own benefit.
How much is this ’victim’ getting paid for this performance?
Let me guess, you invested in crypto and you're going to be a multibillionaire?
He should be in jail.
of course he will make the case for "crypto" is not safe.
Making the case for CBDC, which will be government backed and won't have these "safety" issues.
Most people will give up the freedom for safety and convenience. - as they don't know any better. Nothing to do with getting rich.
A lot more once he can use his money to control the regulations that will benefit him.
10 BTC?
Totally disappointed seeing him here.
Same lol
Actually tho i hope he paid BT a whole lot to be able to be on the channel
Why??
Yeah, he’s a dud
@@MrChazz965 That’s very gracious and diplomatic of you. 😉
I am saddened to see O'Leary on your channel. Associating with him lessens your integrity. :(
Agreed.
Ah, yes Kevin. Worried about the little guy, are you? All cryptoassets other than Bitcoin are just scams and will eventually go down to zero. I'm sure he's well aware of this fact, but he's going to make a killing on investors until that happens.
how? don’t know a lot about him
Agree. Absolute scumbag.
Agreed
This guy makes bad bet after bad bet yet is still lauded as some financial genius.... He's probably just a mouthpiece.
he was a paid mouth piece, a portion in cash and a portion in shares was his payment, he didn't invest anything.
people who make the bad bets are usually the ones that know what not to do.
@@manpreetlakhanpal9720 yep. He got paid $5million I think, what he is upset about is he lost the other $5 to $10 million locked up in shares.
ya I feel horrible for him, a very small amount of his time, for a big pay day.
He didn't "invest" tho....he got paid like $15milliom to endorse FTX without looking into it. He's a scam artist. Believe nothing he says.
why is he on big think?
Isn't this channel for promoting good ideas?
It's alright, the average investor struggles with when to sell or hold, as for making consistent profit even during a market crash, your best bet is having a professional guide you.
Haha, great to know I'm not the only one that go through series of emotions when dwelling with my investments.
It's gotten especially difficult since after the pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now hehehe
which advisor do you use and are you making more than average returns?
@@EmilyMoore-n7n I'm been guided by "Susan Bauer Normansell," who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
You should be ashamed of having Kevin Leary talk about crypo.
He looks like a clown now trying to tell us he understands this stuff... Bitcoin is absolutley not JUST a speculative asset.
Bitcoin is HARD MONEY
Of course it is man. The value is not defined or stable yet. The day it becomes a mainstream currency, then you can say it is not speculative anymore. Until then, people believe that BTC is the future and we’re betting on it.
😂😂
@@rsolano60 you can't touch it, it's not hard money.
@@seantrentham9979You are a 🤡
Oh wow… regulation is a good thing now… ok wasn’t expecting that one from Kevin… he will probably say otherwise the moment regulation helps tons of people but limits his business in other ways
Literally everyone who has been paying any attention for the last three years is aware that some regulation is desperately needed for crypto, just probably not the regulations Kevin wants to 'protect' investors.
Write down the names of everyone like Kevin who promoted FTX and other scams. Then be sure to never listen to what they have to say. Invest in real assets and companies that produce products we buy and use regularly.
too slow
@@knightnxk2906 Larry David tried to warn you ...But no one listened
EXACTLY 100 % Have people forgot just how bad Kevin did to millions of people ? The FTX scam crypto exchange paid him 10 million + to be a spoke person and the entire thing was a scam. My CPA said it would only take him 30 minutes to identify the scam. So Kevin which one is it you do not know your math or did know your math and were corrupted bu 10 million dollars. In my opinion Kevin HAS NO credibility fox news needs to NOT have him on. Also to make my point about him he was doing those get rich quick real estate courses in USA charging 20 k Kevin in my opinion is a conman that only cared about himself
But in that case you need to invest a lot. And people dont have a lot.
@@writenamehere0000 No. You just need to buy a few stocks in companies that produce products we love. For example, Coca Cola is $53. PG which creates tide and most other detergents is $143. Anyone can buy a few of these shares.
This from the Man who called Crypto "Garbage" in 2019 and then Accepted $15M from SBF to pedal FTX tokens...Kevin's Integrity has a price.
Are you peddling pedals?
How do you have an amazing video about Psychopaths with Brian Klass a week ago then turn around and platform a Psychopath? Big Think should probably watch their own videos.
This guy is addicted to giving bad advice.
Indeed. But I think he's not giving bad advice, he's giving advice that will only benefit him 😂
AKA Bad Advice!
He is a laughing stock for me, I don't know about you guys!
Why so ? Isn't crpyto highly volatile in nature ?
There were a lot of people who didn't knew excatl what they were getting into because of all the lies (not only start up promises) and he didn't knew either, that's what I think.
100%, I don't get why he's not in jail too
@@HealitallWasnt he a paid sponsor?
@@chadester001 While I appreciate you reply, and consider you giving Kevin the benifit of doubt, I highly recommend you to watch his interview with Hasan Minhaj.
In that interview he come of as a extremely sketchy character.
Once again Thank you.
Back in the day: "Crypto protects you from the state"
Now: "Crypto does not work properly without the state"
(Quotes not direct)
I think both claims are still being but different people. There is no great difference between, both are trying to promote something that's mostly going to favour themselves. Blockchain technology will be extremely helpful, but not necessarily as cryptocurrency.
Everything about crypto is based on human emotion. It’s a decent concept when used within a framework. But the idea of Bitcoin is in and of itself stupid af.
"properly" means the state should be there to bail Kevin out if he takes another loss. Because he is Mr Wonderfool.
great point
we have a whole lot of greed in government too! the dis-trust of government is because our politicians are there for themselves and not the people they represent.
Whatever O’Leary says about crypto, just do the opposite and you should be fine.
well that's some colossally stupid advice.
O'Leary's statement can be all summed up to: "Everyone who bought into crypto knew it's speculative and the risks of gambling. Crypto still has huge potential and the demise of FTX (and other exchanges before it) does not change that, the same way that the fall of Lehman Brothers and Bear Stearns did not change anything in the long term. The space just lacks regulation and, in the end, no matter how much people say they hate the government, they will always turn to the government in times of crises."
No shit, sherlock. That doesn't explain why he kept defending SBF as the collapse was happening.
Well... I used to trust Big Think to bring people on who were exemplars in their field... this guy has a tragic track record, and I wouldn't recommend anyone listened to a minute of what he has to say
It’s hard to trust a word of Mr. Wonderful since he tries so hard to spin things.
2 years ago he was describing Bitcoin as being like owning real estate. Now he describes it as a speculative asset. Hmm...
Exploiting greedy human behavior is a story as old as time.
"Crypto" is Greek for "hidden", "concealed", "latent", or "closeted", that's how the Greek word "crypto" can be rendered in English, depending on the context.
Governments cannot regulate what is hidden from them, if they are able to regulate it they will also be able to control it and manipulate it.
Eventually it will lead to complete loss of financial privacy.
Crypto is the currency of the 'dark web.' On the dark web they laugh at 'regulation.'
3:50 - "If you think about the 11 sectors of the Standard & Poor, the financial services sector is the only sector that services every other sector. You can't have an economy without financial services."
Huh? You could say the same about many of the S&P's other sectors - technology, utilities, materials, energy, etc. A strange point that undermines his overall credibility.
His big problem is not understanding 'crypto' vs. bitcoin.
Bitcoin is crypto! I swear, this shit is like a fucking religion to you people.
Yes...ponzi scheme A vs ponzi scheme B. It's important to know the differences.
@@mb7196 Everyone will get bitcoin at the price they deserve. Recommend you do the work sooner rather than later.
@@michael2275 lol...this doesn't even make sense. Stop being stupid. Recommend you study formal logical fallacies before you type.
Is this a joke of some sorts? "Regulations" may be a problem with crypto, but it is not the #1. Not by a long shot. The main problem with crypto is that it is ENGINEERED to waste energy (in a form of outrageously expensive computing)
The Sarbanes-Oxley Act was literally enacted because of Enron, so no, these past catastrophes didn't change anything. They changed everything, SOX is a big deal and requires a lot of time, effort and resources to meet this regulation
Crypto was invented to be decentralized and not regulated. The trust can be relayed by blockchain.
Wasn't this guy a hardcore crypto dove?
You just taught me a term, thanks:). Got this off Forexpedia: “A dove is someone who favors a looser monetary policy, which means lower interest rates, with the aim of boosting economic growth.” supposedly at the cost/risk of raising inflation.
for those naives kids still subscribed to the idea that "the whole point of crypto currency is to have an un regulated and decentralised monetsry system", you need to wake up. do you exclusively earn cryto at work then exclusively spend crypto on every thing you ever purchase? no? you still need an interface and exchange between crypto and real currency otherwise you'll starve to death even with thousands of btc in your coinbase wallet? then there's no way we shouldn't regulate that exchange, not because crypto currency is involved, but because real currency is involved.
I have a similar investment philosophy to what Kevin O' Leary used to have. When I saw him doing things like releasing an internet giants etf (that doesn't pay a dividend and was mostly in non-dividend paying stocks), I was thinking, "Kevin, what are you doing?" Then, Kevin got on the crypto chain (after correctly calling Bitcoin garbage). At that point I was thinking, "Kevin, what the HELL are you doing?!" I hope he has truly learned his lesson.
He won't learn a thing until he's sitting in a jail cell with Big Bubba
Ah, yes of course Kevin, lets regulate crypto so withering oligarchic doodooheads can just control the poor people more!
they already are lol. Every single crypto scam happens because it has zero regulations.
Well, you see what happens without any regulation, genius
Atlas pooped his pants. Less regulation, more W for the oligarchs you dummy!
Ah yes. Go wild wild west. With none the sherrif. See what happens!?
Exactly.
Its interesting to learn at around 3:50 that those sectors don't rely on utilities, energy, communication, technology or any materials.
This was the longest way of saying crypto needs to be regulated that I've ever heard
FTX wasn't crypto.
he never put his own money into FTX, he was a paid spokesman. Here's the big problem with O'leary
why didnt you think of all this when you invested, Kevin?
Go make some more cameos
You might mock someone with their beef jerky, gold bars and rifle, but when this system built on the sand of infinite growth eventually caves in on itself, you’d better have one of those expensive watches ready as an investment.
😂😂😂😂😂
it will just switch from one inflationary fiat to the next.. the system will keep moving and people will keep getting robbed.
Bitcoin is a deflationary system.
@@kenambo Bitcoin is a ponzi scheme.
@@kenamboyeah, it deflates your wallet pretty fast 😂
He talks about FTX's failure as if it was a normal startup's failure, and the risks involved were just normal startup risks (as if people not investing in the company but just storing money with a startup should even assume such risks). Normal startups don't commit fraud. Fraud isn't just an "oh well I guess it failed" case, it's "somebody stole the money". And Kevin, having promoted FTX without doing any due diligence, is partially at fault. Yes, there needs to be more regulation around crypto, but FTX broke the regulations that were there already. IMO, regulation in crypto will eventually either stifle it completely or make it work more like regular currency, taxes and all.
One thing i don't get O'Leary is as he said " the diconomy of loving and hating the government". Student loan programs he goes ape, employees credits he practicly shouts over the mountains to use. You want low government spending? Then don't have them bail out student debt, small business, big business, banks, or cypto. Let the market be the market as kevin also says.
what qualifies this guy as world's biggest thinker? he invested into obvious scam, and has no clue about cryptocurrencies by his own admission, he even calls ftx a crypto...
O’Leary needs to be in jail with SBF
If you don't know what you are investing in, no regulation would safe you.
Doesn't sound very bright.
The very last person to ever trust is Kevin O'Leary.
Seriously, big THINK?!
The last person that should be talking about crypto on big think
I don’t know much about Kevin other than what I see on Shark Tank, but I can appreciate the thoughts and knowledge he is sharing. If you limit whom you can learn from …..well, that’s the problem with the world today. People want their information from their selected sources and that leads to narrow-mindedness.
Kevin trying to build back his reputation is like me trying to be 5 years old again.. I can act like a 5 year old all I wan, but I will never be one again.
CRYPTO DOES NOT NEED REGULATION!!!!!!!!!!!!!!!!!!!
The major key was SBF saying Bitcoin wasn’t money & couldn’t be used for payments. He steered unsavvy investors away from the protection of decentralized finance to a security he created controlled & manipulated. Crypto has a problem. Bitcoin does not.
Now that "Mr. Wonderful" (what an ego) can no longer shill for FTX, he's shilling a digitalized dollar for the government. What next?
Personally, I don’t believe crypto needs to be regulated any more than it currently is. Rule number 1: Not your keys not your crypto
People can invest in what they want. Bitcoin is the only crypto that matters. Will it make you money or loose you money, I don’t know. But if you buy 1 Bitcoin today, in 50 years time you still have 1 Bitcoin. What it’s worth in USD and what that Bitcoin can buy, that it the question.
Bitcoin is a ponzi scheme. Plain and simple. It's a joke.
5:09 I was pretty sure the one word suppose to be "bombs", because IMF is not one word. BTW Kevin saying the word "trust" should be a meme.
What is Big Think thinking?
Incredible! This guy heavily promoted FTX and was a close friend of SBF. He promoted and encouraged small and larger investors to trust and use FTX, and therefore made them lose all their life savings. He is definitely not trustworthy. He just wants to wash his reputation and paid BT to be able to do it.
Stable coin backed by Bitcoin.
The most stable coin possible is worth “The global median of one person-hour of labor.”
1. As productivity increases, it gains purchasing power.
2. Inflation/deflation agnostic.
3. No country or organization can manipulate the price, making it a poor speculative asset.
It's not really valid to compare the risks of profit and losses inherent to the free market, to plain fraud.
It's like saying "I went to the grocery store to buy some apples but it turns out the owner pointed his gun at me and robbed me. This is part of how it works when you go to a grocery store."
Can you teach me how to get caught attempting to counterfeit crypto like SBF? I’m asking Mr GG.
about the last guy i would take crypto advice from LMAO
Pretty sure the energy, utilities, and technology sectors service every other sector.
What was missing was actual value.
@5:31 Keep your gold bars in a cave with a dog and a rifle lol
Perspective is everything I think making it a longer video and introducing another perspective would have soothe people over
Having being in crypto since 2013, I am shocked to this this guy being represented as an interlectual on crypto and its 'problem'. I wonder how many more of 'surface-level experts' I have watched on Big Think over the years.
absolutely INSANE they are promoting this guy as an expert. Until the fomo he was a major crypto sceptic! He is focusing on "trust" well bitcoin is the perfect TRUST. I don't HAVE to trust anyone that's the point! No one CAN steal it if I don't let them.
Oh wow looks like we got the wrong expert..
FTX's accountant was registered in the Metaverse, it did not have financial documents audited by 3rd parties, so that was not greed only, that was pure stupidity, incompetence and malice...for all the people who invested in it, including this guy.
K.O. was an insider and one of the masterminds of the whole scandal and now he pretends he is a victim. Is there anything more ridiculous than that?
Don't listen to him trying to spin this his own way. He condemned cryptocurrency as "garbage," then FTX paid him $15M to be a spokesman for it. The man has no scruples at all.
Kevin O’Leary is the biggest problem in Crypto
You got 15 million from FTX. That is what you invested. You can spin it. You did not do
due diligence accepting the $ and you are in part responsible for people loosing money.
Unfortunately most people get fooled by the the financial experts, advisers and gurus. If you are smart you will learn from your mistake in trusting them and will stop listening to them.
The stock markets, commodities market and financial markets are basically casino’s where people try to outsmart each other but in the end the house always wins and there are always new products and new games to play. If this is how you plan to make your living, all I can say to you is good luck!
As with any game there is always a lot of bluffing, deception, smoke and mirrors to try and confuse and take advantage of the suckers. The financial experts, advisers and gurus think they have a winning strategy and sometimes they win but just like the players in the casino, most of the time they loose and if they suckerd others to following them with their advice they also loose. The suckers can whine and complain all they want but they will never get their money back.
Many of the players try cheating because if they can get away with it they will be considered clever and will usually brag about it. Even if they get caught, most of the time the penalties and the fines are not that bad and they will be free to try again.
Kevin made a bad investment on the ftx scam without doing his homework, lost and now he's an expert on why crypto is bad. Yeah okay buddy
My god,the things that this man said to get people to invest!You sir talked about Sam Friedman like he was an absolute genius every chance that you got. You played your part.
1:30 1)What
Nah, screw O'Leary.
We already have a regulated crypto... the digitized dollar.
Him being an investor is fine. Him going from a cheerleader of this "investment" to further its growth and his own personal stake to now deflect and say he was simply an "investor" is what I find issue with.
" Bitcoin in a speculative asset just like gold"...except, ummm, no. Gold is actually a widely accepted monetary asset. BTC is not.
He was having a wonderful dialogue with ONE OF HIS CEOs last week. 💀 tell me you're rich without telling me you're rich