also another important thing to note we don’t want to digitize currency because the government can use that as a jumping off point to make the dollar digital and keep track of all of our expenses and everywhere we go it would invite more government not less. I don’t want more surveillance over our lives.
Digital currency stops people from protesting the government by cutting of their cash flow. Physical cash lets the people avoid paying taxes to a corrupt government as protest. If a Buisness or company is doing racist genocide you can boycott them by not giving them money. If the government is doing racist genocide you can't boycott the government because of Digital currencies. The moment physical cash dissappears is the moment the free people lose their voice in government.
Really, any sort of asset that can keep its value consistent or rise in value with inflation will do- it's why real estate and company stocks are such high-value markets. Gold is just the obvious go-to, as it has been the common denominator backing of the vast majority of currencies throughout history. Correct me if I'm wrong, but doesn't Bitcoin also have a means to record transactions of data with airtight privacy? Not just currency transactions, but any online data or information?
@@PeterDivinethe primary problem behind real estate and stocks, is liquidity… if I need to get out of Dodge I can’t take my house with me and my company stocks are only good so long as the company is healthy… the company is not healthy when the country is in turmoil. Gold is something you can physically take with you as you move…
@PeterDivine you are correct, Bitcoin bought from places like Coinbase it is easy to track who owns it because of the KYC laws (Know Your Customer) that require that you upload your drivers license too the exchange. However, there are places you can buy BTC without doing that and send it to a wallet not tied to an exchange. Some of those BTC ATM's you see don't require a drivers license to use.
Wait I'm confused. Is our money backed by nothing now? I thought it was either on a credit system or backed by oil. What IS our money attached to for value?
As shown in the video, Gold backed money mean that their is a set number of gold and a set numbed of money, and if you get more gold, you print more money however today government print money despite the amount of gold therefore it isn't backed by anything.
@@cartercarlson4387 Okay, I wasn't questioning our money USED to be backed by gold. I'm familiar with the Gold Standard itself. But, are you SURE our money isn't backed by anything? What gives our money its value?
There has been a soft "oil backed" status, but that's just because of political agreements that other countries can, and increasingly are, backing out of. It's also backed up by a lot of violence the u.s. gov't and military industrial complex are happy to use.
1400 years ago. Man from desert prophesying about paper money and interest, also he said something about how ridiculous and unvaluable they are when new things are invented.
Your video serves as a calming beacon, particularly when financial markets are in tumult. Your analysis offers a prudent course of action, fitting seamlessly with the current stage of the economic cycle. Nonetheless, one cannot overlook the expanding mainstream adoption of cryptocurrencies since 2019, as well as the fervent discourse surrounding prospective Bitcoin and Ethereum ETFs. Might these elements sustain the market in this particular cycle? Speculation abounds that we are on the verge of a significant market upswing, making this a moment of great import for any discerning investor. My own portfolio, enriched by 6 bitcoins in a mere seven-week interval, serves as a compelling testament to Wayne Jones financial wisdom.
I'm new to investing, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
Spread this message: Digital currency stops people from protesting the government by cutting of their cash flow. Physical cash lets the people avoid paying taxes to a corrupt government as protest. If a Buisness or company is doing racist genocide you can boycott them by not giving them money. If the government is doing racist genocide you can't boycott the government because of Digital currencies. The moment physical cash dissappears is the moment the free people lose their voice in government.
Gresham's law says bad money (dollars) drives out good (BTC.) People will always choose to save BTC because it appreciates, and spend their fiat dollars because inflation erodes it. When fiat dollars finally are worthless, then BTC will be used in trade. Right now, BTC is digital Gold. People hoard it.
Bitcoin was being quickly adopted from like 2011-2015, but it was hijacked and network fees went way up and so it stopped functioning well as money/currency. So a lot of places stopped accepting it. #BitcoinCash follows the same principles Satoshi established, and still functions well as currency.
Going back to the gold standard it's a better solution. If you lose your Bitcoin key, you lose all your money. There's millions of dollars in Bitcoin that's lost forever because of things like that. You'll eventually need a custodian to protect your coins which recreates a middleman and if anybody hacks that custodian (or you), then you lose all your money.
BitCoin at least gets the concept of backing monetary value to some kind of unique asset - the blockchain. I'm no economist, but I'm willing to bet getting off the gold standard was a mistake for the United States.
Someone remarked above, fiat is what you need to pay your taxes (and most of your bills). It pays to have the appropriate fiat(s) as a hedge against depreciation of any other asset, or appreciation of the fiat.
No one knows the real identity of Satoshi. Well Satoshi does, probably, and maybe a friend or two, but since we don't know who Satoshi is we can't ask the friends to find out if they know.
It's nice people learn about basic finacial things like inflation, but a shitcion is not a magical solution for all. Getting off gold was the best decision US could have made. Gold is a resource that could be EASLIY controlled. If certain people (people that only care about profits at that) would want to rise it's price, they could do it with a flick of a finger. Not to mention that if we were to mine let's say asteroids, it's price would plummet (they are literally talking about the shells losing value cus there was so many of them). So having a currency bound to a resource that could always just be mined like that is not only very insecure, but also limits economical growth of a country (bigger population = more money in circulation needed, but you can't just print more gold to match, leading to even more inflation). Also people saying that government having control over currecy is bad are plain stupid. It's the government that secures and protects YOU, YOUR LIFE and YOUR MONEY from losing all value. Would you like to have your entire living hanging on a bank, that would do everything to profit, or a goverment that tries to run a stable (and growing if possible) economy? Because that's what caused the Great Depression: gold standard and greedy banks. PS. Bitcoin is no better since it's scarcity is it's weak point. It's making it very unstable, and I don't think i need to tell you why unstable currecy is bad for everyone.
Well don't you think its strange they gone for Bitcoin of all things instead of monero? pretty strange for a mormon owned libertarian studio, by the way Mormons are pro transhumanist, also you can't simplify the problem of Daddy issues you really can't that's why no cartoon has ever really made episodes on it because IT IS A COMPLEX TOPIC and if it's dumbed down people will get the wrong message
3:23 There’s far more to this than just “oh the government got greedy”. It’s more about balancing the budget and balancing inflation. Some countries choose to balance the budget by printing money, increasing inflation. The advantage of doing that is the government can pay for a lot more than taxes alone could provide for. The disadvantage is that it decreases the value of your currency relative to how much you print, which can cause severe instability in severe cases. Other countries try to balance their budget by well, actually balancing their budget. Increasing revenue (through taxes, tariffs, etc) and decreasing costs. These countries have to make some sacrifices to accomplish the great feat of being fiscally responsible, and they lose out on some growth because of it. And then SOME countries just ignore the concept of balancing the budget entirely and disregard their debt. That has its own long term issues which are well beyond the scope of this video. Now, please stay with me here this does actually get back to the whole “greedy governments” thing. A fiat currency has access to the first option while a hard currency does not. A hard currency is limited entirely to the first and second options and isn’t as easily controlled as a fiat currency. Fiat currencies are more flexible and involve more government control, while hard currencies are much more separated from the government, giving said government less ability to adapt to crises while also giving them less ability to cause crises. The situation described in the video isn’t so much a problem with a fiat currency itself with the government’s use of that flexibility. Money requires responsible usage. When someone mishandles currency, that’s not the fault of the currency for being mishandle-able but the fault of the person mishandling the currency. There are other points in the video I’d like to open for discussion (such as whether the government should be involved with money or not) however I’ve rambled on about economics for long enough. If I made any mistakes (or oversimplified anything), please cordially correct it in the replies so I can more clearly represent my argument. If you disagree with what I’ve said, please feel free to discuss in the replies.
You give governments the ability to corrupt they inevitably will. Money should not be political or controlled by one central authority. It generally leads down the same path to the same end. Separate money from State.
@@CamboHODL Except with nobody to regulate it the currency will be practically worthless in a large economy. Who’s going to print it? How much? Who’s going to prevent transactional fraud? Who’s going to do any of the things a gov. typically does to keep currencies stable? Give the people control over the currency and they too will inevitably corrupt it.
@@anonymousduck1611 yeah but it's still a kids show so you can't really go into too much detail especially within a certain amount of time for each episode
Did the neighbor from "Home Improvement" get a job here? Crypto takes at least three things to make it work, just on one end. Some folk don't have those three things. I'll stick with the buy/sell/trade in physical form. Crypto also has no backing and is not as "decentralized" as folk think.
Yeah, bitcoin isnt hard money. Its easily traceable and easily controllable and unlike paper or metal currency, it can not be traded at will or for any product. Its value us also indeterminate, has a dollar value and can inly be accessed by people that can use the internet. Bitcoin itself is a commodity not wealth.
@@solcloudchaser4988 You don't need to use it every time. I use credit card but some day the store is not taking card because the system is no running, so I pay in paper money. Some regulators are checking the viability to begin indexing their fiat to some crypto. You really need offline and non-digital money sometimes. It is more a question of consistent financial system. Some farms of crypto operate by green sources and critical level energy backup. So a complete fail in global energy grid can't shutdown it. Just you will lose access for a short on long time.
That is fake. You mean the pools where many independent people join and hurt the decentralization a thing that can be undone in a second. So no problem at all.
@@TunaBear64 you should really research the topic more. And have you stopped for a minute to consider how much energy the dollar system uses? The dollar system also costs a lot of blood and lives because of the wars the USA flights trying to keep its sinking fiat dollar afloat.
A lot of Bitcoin mining is done using energy that would otherwise be wasted. Renewable energy projects are far more successful when they partner with Bitcoin mining ventures.
Yes but Bitcoin is more of a proof of concept if anything. It will never fully replace fiat. The problem is that in the current climate, Bitcoin is hard to come by, makes a ton of electrical waste to mine and a few people have just a ton of them because they were early adopters. The difficulty of obtaining bitcoin keeps increasing and that actually makes it less viable as a currency. It was probably done that way so that the same few people don't own the majority of it, but enough people have a bunch of it (satoshi himself) to where if it was adopted or replaced fiat, there would immediately be a wealth imbalance.
You don’t understand the nature of money adoption. People have to adopt it as a store of value first, then medium of exchange then finally unit of account. We are still at store of value adoption phase. You will be able to pay for your groceries soon enough.
Gold is valuable but you can't buy things with it, diamonds too, you have to see Bitcoin as a value reserve it's not to make you rich but to not make you poor.
@@gregb6469 you will need to get with the times because people don’t need physical wallets anymore. People have options such as paying with their phone, watch and even a ring, with more options coming. Bank cards are old tech and paper notes and coins are being phased out - in some countries it’s hard to even get cash let alone pay with it. Digital is the future and you will need to choose between a centralised, politically issued version with infinite supply or choose a decentralised digital currency that’s incorruptible. No one will force you to use Bitcoin (unlike the alternative) but people who value freedom will choose Bitcoin. Calling it speculative or gambling is like you’re still stuck in 2017. You now have public companies putting it on their balance sheet, the fastest growing ETF’s in history and nations states (including the US) about to put it on their national reserve. Bitcoin is already the 12th largest currency, just one place behind the Australian dollar. Don’t blink, it won’t be long before it’s in the top 10 on its way to the top. FYI, people do already spend Bitcoin at grocery stores, you just need to travel more. Try visiting El Salvador, the Philippines or the Isle of Man. If you do travel don’t be surprise that at an airport in the next 5 years you will see products priced in different currencies including BTC. You may be old school but you will be a minority as time goes on.
3:23 There’s far more to this than just “oh the government got greedy”. It’s more about balancing the budget and balancing inflation. Some countries choose to balance the budget by printing money, increasing inflation. The advantage of doing that is the government can pay for a lot more than taxes alone could provide for. The disadvantage is that it decreases the value of your currency relative to how much you print, which can cause severe instability in severe cases. Other countries try to balance their budget by well, actually balancing their budget. Increasing revenue (through taxes, tariffs, etc) and decreasing costs. These countries have to make some sacrifices to accomplish the great feat of being fiscally responsible, and they lose out on some growth because of it. And then SOME countries just ignore the concept of balancing the budget entirely and disregard their debt. That has its own long term issues which are well beyond the scope of this video. Now, please stay with me here this does actually get back to the whole “greedy governments” thing. A fiat currency has access to the first option while a hard currency does not. A hard currency is limited entirely to the first and second options and isn’t as easily controlled as a fiat currency. Fiat currencies are more flexible and involve more government control, while hard currencies are much more separated from the government, giving said government less ability to adapt to crises while also giving them less ability to cause crises. The situation described in the video isn’t so much a problem with a fiat currency itself with the government’s use of that flexibility. Money requires responsible usage. When someone mishandles currency, that’s not the fault of the currency for being mishandle-able but the fault of the person mishandling the currency. There are other points in the video I’d like to open for discussion (such as whether the government should be involved with money or not) however I’ve rambled on about economics for long enough. If I made any mistakes (or oversimplified anything), please cordially correct it in the replies so I can more clearly represent my argument. If you disagree with what I’ve said, please feel free to discuss in the replies.
@@yanguhury Oh yes. One provides security (to an extent that the resource backing it is still worth something or that it’s still backed by a resource at all), the other provides flexibility.
You're not wrong but there's two key points I'd like to add.. 1. When a country prints money they are effectively stealing the value and purchasing power of its citizens. So while governments can 'balance the budget', react to a crisis and do a lot more than taxes alone could provide for it always comes at a steep, often hidden cost. And worse, this cost is deferred to future generations that must now suffer for these past decisions even though they had nothing to do with it. 2. While it is theoretically possible for governments to have responsible usage of their money history has shown that it never actually happens that way in reality. Practically speaking it's really just a spectrum that ranges from pretty bad to terrible depending on which country and government you pick. In short, just because we can, doesn't mean we should.
...Question: When has a system open to government control and abuse ever _not_ eventually been corrupted by embezzlement, laundering, and/or incompetence? Giving any single group or government control over a money supply and then blaming the group is like giving foxes carte blanche to regulate a chicken coop and then blaming the foxes. "It's not the system at fault, we just put the wrong foxes in charge!" _They're. FOXES._ Their inherent nature is to be predatory on chickens, and humanity's nature is to be greedy for easy wealth. Even if you somehow perform the moonshot of finding someone of brilliant statistical forecasting and unflinching moral discipline to regularly and consistently peg the printing rate at exactly what it needs to be to stimulate the economy without violently overinflating it, this system will only work for the generation that that person/those persons are in charge. Every successive generation will re-roll to see if they're just as incorruptible as their predecessors, and inevitably, that system _will_ hit snake-eyes and put someone in charge, someone who's just interested in breaking the Social Contract, stealing as much as he can, and running for the hills while no one realizes they're holding worthless paper. This has happened with _every_ fiat currency in history, and it's happening with ours now. The dollar has lost 40% of its value just in the last _twenty years,_ and it's _never_ going to stop. "Transitory inflation" my eye.
This is what my kids gonna watch after 2045
"Hah, you said criminals twice! " I love this show! :)
Underrated comment Hahahaha!
Hilarious!
Ohhh wow! This cartoon is amazing! I'm currently sharing these videos with my kids in Brazil. They're taking their first steps in this new universe.
4:17 y=3 x=cbrt(2)
Bro solved it in a few seconds
get this man a bitcoin
Love it! A cartoon eaching kids (and adults) about bitcoin! So needed.
“Womp womp was good money because it was hard” yeah I’m pretty sure there are better ways to say this
also another important thing to note we don’t want to digitize currency because the government can use that as a jumping off point to make the dollar digital and keep track of all of our expenses and everywhere we go it would invite more government not less. I don’t want more surveillance over our lives.
There's already the Tether (USDT), which is basically just bitcoin version of a dollar. It's value stays as $1 (for the most part).
BTC is the answer
That is true but It is avoidable.
Digital currency stops people from protesting the government by cutting of their cash flow. Physical cash lets the people avoid paying taxes to a corrupt government as protest. If a Buisness or company is doing racist genocide you can boycott them by not giving them money. If the government is doing racist genocide you can't boycott the government because of Digital currencies. The moment physical cash dissappears is the moment the free people lose their voice in government.
Great show the world needs this ty
Goldback. Is the way to go. As I don’t trust anything that I can’t see and can’t use during a power outage.
Really, any sort of asset that can keep its value consistent or rise in value with inflation will do- it's why real estate and company stocks are such high-value markets. Gold is just the obvious go-to, as it has been the common denominator backing of the vast majority of currencies throughout history.
Correct me if I'm wrong, but doesn't Bitcoin also have a means to record transactions of data with airtight privacy? Not just currency transactions, but any online data or information?
@@PeterDivinethe primary problem behind real estate and stocks, is liquidity… if I need to get out of Dodge I can’t take my house with me and my company stocks are only good so long as the company is healthy… the company is not healthy when the country is in turmoil. Gold is something you can physically take with you as you move…
@PeterDivine you are correct, Bitcoin bought from places like Coinbase it is easy to track who owns it because of the KYC laws (Know Your Customer) that require that you upload your drivers license too the exchange. However, there are places you can buy BTC without doing that and send it to a wallet not tied to an exchange. Some of those BTC ATM's you see don't require a drivers license to use.
Everything is on a ledger so you can see it. Power backups allow you to exchange anytime. Do your homework.
HFSP.
Man, this is brilliant 😊🎉❤
I love this channel🙌
It’s for the future and the kids live in the future!
Thanks!
Wait I'm confused. Is our money backed by nothing now? I thought it was either on a credit system or backed by oil. What IS our money attached to for value?
As shown in the video, Gold backed money mean that their is a set number of gold and a set numbed of money, and if you get more gold, you print more money however today government print money despite the amount of gold therefore it isn't backed by anything.
It's backed by faith in the US government. Faith, Hope, & Pixie Dust.
@@cartercarlson4387 Okay, I wasn't questioning our money USED to be backed by gold. I'm familiar with the Gold Standard itself.
But, are you SURE our money isn't backed by anything? What gives our money its value?
There has been a soft "oil backed" status, but that's just because of political agreements that other countries can, and increasingly are, backing out of.
It's also backed up by a lot of violence the u.s. gov't and military industrial complex are happy to use.
Its has value because you need it to pay your taxes. If you trade all you money to bitcoin you can only buy very few things.
Great satoshi , continue with giving us knowledge of understanding the digital currency
"Paper money makes no sense." That energy is the same to "Wow. This is worthless."
1400 years ago. Man from desert prophesying about paper money and interest, also he said something about how ridiculous and unvaluable they are when new things are invented.
These transitions were _smooth!_
Your video serves as a calming beacon, particularly when financial markets are in tumult. Your analysis offers a prudent course of action, fitting seamlessly with the current stage of the economic cycle. Nonetheless, one cannot overlook the expanding mainstream adoption of cryptocurrencies since 2019, as well as the fervent discourse surrounding prospective Bitcoin and Ethereum ETFs. Might these elements sustain the market in this particular cycle? Speculation abounds that we are on the verge of a significant market upswing, making this a moment of great import for any discerning investor. My own portfolio, enriched by 6 bitcoins in a mere seven-week interval, serves as a compelling testament to Wayne Jones financial wisdom.
Imagine a million dollar bitcoin lol
5:13 buy it with what?
Fiat dollars use the paper money to buy bitcoin.
I'm new to investing, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
As a beginner, it's essential for you to have a pro or a very good trader to keep you accountable.
If you can, then get a professional to trade for you I think that way your assets are more secure.
Someone like expert Lori Barr
Step 1: don’t ask strangers online for financial advice 😂
2:40 Wilson Reference from Home Improvement
why am i teary eyed
Let's go crypto 👏 👏 👏👏👏
BTC not crypto.
Is this a reupload?
The poo coiner and no coiner comments in here are classic! 😂 Luckily, anyone smart enough to watch this video won't take them seriously!
How do I make a cartoon video like this? Any suggestions appreciated mahalo
What about monero?
Monero is great. And I also like #BitcoinCash
@@dustinabc monero is better bitcoin is for feds
It is an awesome tool.
Thank you for spreading the message
Spread this message: Digital currency stops people from protesting the government by cutting of their cash flow. Physical cash lets the people avoid paying taxes to a corrupt government as protest. If a Buisness or company is doing racist genocide you can boycott them by not giving them money. If the government is doing racist genocide you can't boycott the government because of Digital currencies. The moment physical cash dissappears is the moment the free people lose their voice in government.
Bitcoin is not all that easy to use. I can't spend it at the grocery store.
same logic can be applied to stocks u cant spens apple stock at the store
With apple stock you cannot get an free ipad, iphone if they did, we all would had thousands of phones...
You just don't have the right kind of debit card product that allows this. You sure can spend it at the store, people just don't know to look for it.
Gresham's law says bad money (dollars) drives out good (BTC.) People will always choose to save BTC because it appreciates, and spend their fiat dollars because inflation erodes it. When fiat dollars finally are worthless, then BTC will be used in trade. Right now, BTC is digital Gold. People hoard it.
Bitcoin was being quickly adopted from like 2011-2015, but it was hijacked and network fees went way up and so it stopped functioning well as money/currency. So a lot of places stopped accepting it. #BitcoinCash follows the same principles Satoshi established, and still functions well as currency.
Going back to the gold standard it's a better solution.
If you lose your Bitcoin key, you lose all your money. There's millions of dollars in Bitcoin that's lost forever because of things like that. You'll eventually need a custodian to protect your coins which recreates a middleman and if anybody hacks that custodian (or you), then you lose all your money.
BitCoin at least gets the concept of backing monetary value to some kind of unique asset - the blockchain. I'm no economist, but I'm willing to bet getting off the gold standard was a mistake for the United States.
It’s funny how people love fiat
Someone remarked above, fiat is what you need to pay your taxes (and most of your bills). It pays to have the appropriate fiat(s) as a hedge against depreciation of any other asset, or appreciation of the fiat.
Is this the actual guy who made it?
No one knows the real identity of Satoshi. Well Satoshi does, probably, and maybe a friend or two, but since we don't know who Satoshi is we can't ask the friends to find out if they know.
The only thing I'm worried about is that a carington event will wipe out the bitcoin economy
As soon as anything happens in the World which would basically destroy the Internet then all the Bitcoins will be gone as well.
@retroprogamer7009 though with the internet permanently gone, I think bitcoin wouldn't be our top worry.
@@retroprogamer7009didn’t think about that one.
Buddy if the internet goes offline there’s gonna be bigger problems
Can the people with complaints the comments please actually explain yourselves rather than just saying, “X or Y statement is false.”
Great show, thank you for educating our kids with real knowledge and making these videos
❤
do you authorise us to translate it into another language?
Yes
It's nice people learn about basic finacial things like inflation, but a shitcion is not a magical solution for all. Getting off gold was the best decision US could have made. Gold is a resource that could be EASLIY controlled. If certain people (people that only care about profits at that) would want to rise it's price, they could do it with a flick of a finger. Not to mention that if we were to mine let's say asteroids, it's price would plummet (they are literally talking about the shells losing value cus there was so many of them). So having a currency bound to a resource that could always just be mined like that is not only very insecure, but also limits economical growth of a country (bigger population = more money in circulation needed, but you can't just print more gold to match, leading to even more inflation). Also people saying that government having control over currecy is bad are plain stupid. It's the government that secures and protects YOU, YOUR LIFE and YOUR MONEY from losing all value. Would you like to have your entire living hanging on a bank, that would do everything to profit, or a goverment that tries to run a stable (and growing if possible) economy? Because that's what caused the Great Depression: gold standard and greedy banks. PS. Bitcoin is no better since it's scarcity is it's weak point. It's making it very unstable, and I don't think i need to tell you why unstable currecy is bad for everyone.
Hi
Please I need these videos in spanish so I can orange pill a lot of people! Would give my voice for free
Está en español ._.
🎉🎉🎉🎉🎉
So the bitcoin is nice for some time, halvings come in, we need to move to another currency. Welp, capitalism all over again.
Yep communism is dead again.
I'm pretty sure that's not how that works
That is just trading and speculation.
He was assassinated
Who here caught the pentagram @ 5:25?
Well don't you think its strange they gone for Bitcoin of all things instead of monero? pretty strange for a mormon owned libertarian studio, by the way Mormons are pro transhumanist, also you can't simplify the problem of Daddy issues you really can't that's why no cartoon has ever really made episodes on it because IT IS A COMPLEX TOPIC and if it's dumbed down people will get the wrong message
Yea after pausing.
Pentangle. Pentagrams are upside down.
Also, technically, it was just a five-node, star-configuration network.
@@frankyanish4833 Or a pentagon? Possible Bitcoin is a gov psy op.
3:23 There’s far more to this than just “oh the government got greedy”. It’s more about balancing the budget and balancing inflation. Some countries choose to balance the budget by printing money, increasing inflation. The advantage of doing that is the government can pay for a lot more than taxes alone could provide for. The disadvantage is that it decreases the value of your currency relative to how much you print, which can cause severe instability in severe cases. Other countries try to balance their budget by well, actually balancing their budget. Increasing revenue (through taxes, tariffs, etc) and decreasing costs. These countries have to make some sacrifices to accomplish the great feat of being fiscally responsible, and they lose out on some growth because of it. And then SOME countries just ignore the concept of balancing the budget entirely and disregard their debt. That has its own long term issues which are well beyond the scope of this video. Now, please stay with me here this does actually get back to the whole “greedy governments” thing. A fiat currency has access to the first option while a hard currency does not. A hard currency is limited entirely to the first and second options and isn’t as easily controlled as a fiat currency. Fiat currencies are more flexible and involve more government control, while hard currencies are much more separated from the government, giving said government less ability to adapt to crises while also giving them less ability to cause crises. The situation described in the video isn’t so much a problem with a fiat currency itself with the government’s use of that flexibility. Money requires responsible usage. When someone mishandles currency, that’s not the fault of the currency for being mishandle-able but the fault of the person mishandling the currency. There are other points in the video I’d like to open for discussion (such as whether the government should be involved with money or not) however I’ve rambled on about economics for long enough.
If I made any mistakes (or oversimplified anything), please cordially correct it in the replies so I can more clearly represent my argument. If you disagree with what I’ve said, please feel free to discuss in the replies.
I agree, kids watching this shouldn't be straight up told things, they should be shown the pros and cons
Left memes:
You give governments the ability to corrupt they inevitably will. Money should not be political or controlled by one central authority. It generally leads down the same path to the same end. Separate money from State.
@@CamboHODL Except with nobody to regulate it the currency will be practically worthless in a large economy. Who’s going to print it? How much? Who’s going to prevent transactional fraud? Who’s going to do any of the things a gov. typically does to keep currencies stable? Give the people control over the currency and they too will inevitably corrupt it.
@@anonymousduck1611 yeah but it's still a kids show so you can't really go into too much detail especially within a certain amount of time for each episode
If only I had invested early on.
It is still early on.
It's still early 😂
Where’s his mouth?
His face is hidden as his identity is unknown.
Gold and BTC are my favorites! But Silver and ETH are pretty good as well! :)
I like #BitcoinCash too because it still functions as a currency, and best reflects the project Satoshi created.
Monero
Did the neighbor from "Home Improvement" get a job here?
Crypto takes at least three things to make it work, just on one end. Some folk don't have those three things. I'll stick with the buy/sell/trade in physical form. Crypto also has no backing and is not as "decentralized" as folk think.
The internet used to take multiple things to work: a computer, a modem, an ISP, power, etc
Yeah, bitcoin isnt hard money. Its easily traceable and easily controllable and unlike paper or metal currency, it can not be traded at will or for any product. Its value us also indeterminate, has a dollar value and can inly be accessed by people that can use the internet. Bitcoin itself is a commodity not wealth.
Any money is it. If everyone accept BTC the same. Traceable, It is correctly but means you need to learn more about.
@@yanguhury if the power goes out around the entire state, how do you access it?
@@solcloudchaser4988 You don't need to use it every time. I use credit card but some day the store is not taking card because the system is no running, so I pay in paper money. Some regulators are checking the viability to begin indexing their fiat to some crypto. You really need offline and non-digital money sometimes. It is more a question of consistent financial system. Some farms of crypto operate by green sources and critical level energy backup. So a complete fail in global energy grid can't shutdown it. Just you will lose access for a short on long time.
You don’t understand Bitcoin at all, do you? 😂
@@lovebaja no, I understand what Bitcoin is. I don't think you understand what money is.
топ
If you guys are going to go in the direction of crypto why not at least do an episode on Monero XMR, Bitcoin is used by the feds.
Bitcoin is more traceable than controllable and very unstable ... it is literally controlled by few people compare to paper money
That is fake. You mean the pools where many independent people join and hurt the decentralization a thing that can be undone in a second. So no problem at all.
Whatever problem you have. Bitcoin can fix it!
Transaction fees on small purchases?
Well, Bitcoin is gonna be my choice when stops being an environment killer.
Currently, it is.
Wow, someone else who actually sees reality.
And some how TH-cam that is running on servers all of over the world isn't ?????
@@TheRoybit Easy, TH-cam doesn't use as much energy as entire countries.
Bitcoin mining consumes more energy than the whole country of Egypt
@@TunaBear64 you should really research the topic more. And have you stopped for a minute to consider how much energy the dollar system uses? The dollar system also costs a lot of blood and lives because of the wars the USA flights trying to keep its sinking fiat dollar afloat.
A lot of Bitcoin mining is done using energy that would otherwise be wasted. Renewable energy projects are far more successful when they partner with Bitcoin mining ventures.
Why doesn't he show his mouth
Because the animators are too lazzy
Your history and understanding are both incorrect.
ترامب يحبك
Yes but Bitcoin is more of a proof of concept if anything. It will never fully replace fiat. The problem is that in the current climate, Bitcoin is hard to come by, makes a ton of electrical waste to mine and a few people have just a ton of them because they were early adopters.
The difficulty of obtaining bitcoin keeps increasing and that actually makes it less viable as a currency. It was probably done that way so that the same few people don't own the majority of it, but enough people have a bunch of it (satoshi himself) to where if it was adopted or replaced fiat, there would immediately be a wealth imbalance.
peak cryptobro propaganda
Did you learn NOTHING
True
HFSP
Bitcoin is inefficient and wasteful. Also, inflation encourages sensible investment when the rate is low.
How inefficient and wasteful are the fiat dollar system? The dollar also has a lot of blood on its hands.
@@dustinabc Are you talking about dollars before or after the left the gold standard?
If I can't put it in my wallet and spend it at the grocery store, it's not money to me.
You don’t understand the nature of money adoption. People have to adopt it as a store of value first, then medium of exchange then finally unit of account. We are still at store of value adoption phase. You will be able to pay for your groceries soon enough.
@@CamboHODL -- Ah, but I do! Until something gains widespread use as a medium of exchange, it is not money, but an investment (or a gamble).
Gold is valuable but you can't buy things with it, diamonds too, you have to see Bitcoin as a value reserve it's not to make you rich but to not make you poor.
@@gregb6469 you will need to get with the times because people don’t need physical wallets anymore. People have options such as paying with their phone, watch and even a ring, with more options coming. Bank cards are old tech and paper notes and coins are being phased out - in some countries it’s hard to even get cash let alone pay with it. Digital is the future and you will need to choose between a centralised, politically issued version with infinite supply or choose a decentralised digital currency that’s incorruptible. No one will force you to use Bitcoin (unlike the alternative) but people who value freedom will choose Bitcoin. Calling it speculative or gambling is like you’re still stuck in 2017. You now have public companies putting it on their balance sheet, the fastest growing ETF’s in history and nations states (including the US) about to put it on their national reserve. Bitcoin is already the 12th largest currency, just one place behind the Australian dollar. Don’t blink, it won’t be long before it’s in the top 10 on its way to the top. FYI, people do already spend Bitcoin at grocery stores, you just need to travel more. Try visiting El Salvador, the Philippines or the Isle of Man. If you do travel don’t be surprise that at an airport in the next 5 years you will see products priced in different currencies including BTC. You may be old school but you will be a minority as time goes on.
Bitcoin sounds like a complete scam to me
Its opensource, look at the code and see for yourself
Unlike politically backed money no one is forcing anyone to use BTC. If you think it’s a scam don’t use it.
Because it is. Some Guy once said "This random Number is now worth Money" and people believed him
@@retroprogamer7009 all currencies only have worth because people decide that they do
Can you say "Ponzi"? Sure you can. I knew you could.
Do you know Bitcoins a scam😡😅🤔🤨
Oh ya? Want to hear about a much bigger scam? It's called the u.s. dollar.
Its actually the opposite its a thing used by criminals, for crimes
OMG, this 2024 bro, not 2014.
This is True
the same could be said for Gold.
Both gold and silver are good options, monero too, bitcoin's blockchain is managed by the feds
@@nostromza3433so the government does have some kind of control over Bitcoin?
They discuss the problems with gold in the clip. Namely it is costly to store and transport.
This helped a lot! Me and my dad both invest! 🫶🏼✨🩵
3:23 There’s far more to this than just “oh the government got greedy”. It’s more about balancing the budget and balancing inflation. Some countries choose to balance the budget by printing money, increasing inflation. The advantage of doing that is the government can pay for a lot more than taxes alone could provide for. The disadvantage is that it decreases the value of your currency relative to how much you print, which can cause severe instability in severe cases. Other countries try to balance their budget by well, actually balancing their budget. Increasing revenue (through taxes, tariffs, etc) and decreasing costs. These countries have to make some sacrifices to accomplish the great feat of being fiscally responsible, and they lose out on some growth because of it. And then SOME countries just ignore the concept of balancing the budget entirely and disregard their debt. That has its own long term issues which are well beyond the scope of this video. Now, please stay with me here this does actually get back to the whole “greedy governments” thing. A fiat currency has access to the first option while a hard currency does not. A hard currency is limited entirely to the first and second options and isn’t as easily controlled as a fiat currency. Fiat currencies are more flexible and involve more government control, while hard currencies are much more separated from the government, giving said government less ability to adapt to crises while also giving them less ability to cause crises. The situation described in the video isn’t so much a problem with a fiat currency itself with the government’s use of that flexibility. Money requires responsible usage. When someone mishandles currency, that’s not the fault of the currency for being mishandle-able but the fault of the person mishandling the currency. There are other points in the video I’d like to open for discussion (such as whether the government should be involved with money or not) however I’ve rambled on about economics for long enough.
If I made any mistakes (or oversimplified anything), please cordially correct it in the replies so I can more clearly represent my argument. If you disagree with what I’ve said, please feel free to discuss in the replies.
Well both money type offer it advantages. I try to get the best of two sides.
@@yanguhury Oh yes. One provides security (to an extent that the resource backing it is still worth something or that it’s still backed by a resource at all), the other provides flexibility.
You're not wrong but there's two key points I'd like to add..
1. When a country prints money they are effectively stealing the value and purchasing power of its citizens. So while governments can 'balance the budget', react to a crisis and do a lot more than taxes alone could provide for it always comes at a steep, often hidden cost. And worse, this cost is deferred to future generations that must now suffer for these past decisions even though they had nothing to do with it.
2. While it is theoretically possible for governments to have responsible usage of their money history has shown that it never actually happens that way in reality. Practically speaking it's really just a spectrum that ranges from pretty bad to terrible depending on which country and government you pick.
In short, just because we can, doesn't mean we should.
...Question: When has a system open to government control and abuse ever _not_ eventually been corrupted by embezzlement, laundering, and/or incompetence? Giving any single group or government control over a money supply and then blaming the group is like giving foxes carte blanche to regulate a chicken coop and then blaming the foxes. "It's not the system at fault, we just put the wrong foxes in charge!"
_They're. FOXES._ Their inherent nature is to be predatory on chickens, and humanity's nature is to be greedy for easy wealth. Even if you somehow perform the moonshot of finding someone of brilliant statistical forecasting and unflinching moral discipline to regularly and consistently peg the printing rate at exactly what it needs to be to stimulate the economy without violently overinflating it, this system will only work for the generation that that person/those persons are in charge. Every successive generation will re-roll to see if they're just as incorruptible as their predecessors, and inevitably, that system _will_ hit snake-eyes and put someone in charge, someone who's just interested in breaking the Social Contract, stealing as much as he can, and running for the hills while no one realizes they're holding worthless paper.
This has happened with _every_ fiat currency in history, and it's happening with ours now. The dollar has lost 40% of its value just in the last _twenty years,_ and it's _never_ going to stop. "Transitory inflation" my eye.