원문 보기
it's official crypto is 99 a scam well of course it has to be noriel rabini said it is a world-class famous economist chiming in from Davos Switzerland at the world economic Forum just this past week as interviewed by Yahoo finance so this guy continues to baffle me because he just keeps regurgitating the same garbage over and over again it just it's amazing to me that somebody that's so intelligent and is recognized around the world is this you know brilliant Economist continues to just spew stuff about crypto and blockchain and he actually fails to actually want to dive in and actually really understand it and then you know talk objectively about it nonetheless what it really reminds me of is you know Upton Sinclair who famously said or famously wrote about that it's difficult for a man to understand something when his salary depends on him not understanding it and if there's ever a best example that it's right here with no real rabini he fails to understand block chain because he spent decades invested in being a legacy Economist with Legacy thinking and he's got one and only one Paradigm and so this brand new technology threatens all of that so of course I guess that's what you would default into is just spewing negative stuff without without actually investigating or digging into it or researching it in any way whatsoever that's what he does so this is this guy is just you know he's always been like this and there's lots of naysayers that are out there so first of all let's just break it down a little bit uh technically so he says 99 of all crypto is a scam well let's just look at Bitcoin for a second so the total market capitalization right now Bitcoin represents about 40 total market cap okay then ethereum is another 20 so the two of those together is 60 but bitcoin's got 40 of the total market cap Bitcoin is not a scam in any way whatsoever as a matter of fact it's everybody's friend and so many people still fail to understand this but if the narrative is oh this is a payment rail from a banker's Paradigm and say oh well assistant it's not a fast blockchain how's it going to compete with Visa style transactions ten thousand multi ten thousand transactions per second and that kind of thing well you know what there's going to be other cryptos that solve that problem there's going to be other blockchains to solve that problem Bitcoin has found its own lane now there's also the narrative about Bitcoin being a store of value that's probably the next most common thing that people hear about and of course it is it's the scarce assassin on the planet less than 21 million Bitcoin gold is actually not scarce gold is actually there's pockets and reserves that are around the world are simply not mine until it makes economic sense but we actually know ahead of time and can graph out what the supply is of Bitcoin we know exactly what it's going to be so nonetheless scarce assassin on the planet but further than that the other value proposition the thing that most people don't talk about is the immutability proposition that is Andreas Antonopoulos said Bitcoin is a monument to immutability you know like the Great Pyramids so we have this blockchain that records transactions but it's not just a change of value okay you can actually put a hash which can represent any piece of information into the Bitcoin blockchain so this store value alone is a great proposition and the fact that it's a scarce asset but the immutability piece is the thing that goes under the radar and if noriel rabini actually wanted to make just the tiniest little bit of effort to understand that I would suspect he'd be evangelist of this technology and yes are there scams in crypto absolutely there's scams in crypto of course they're scams in anything there's fraudsters everywhere there always has men there always will be new stuff comes up scammers into Bad actors you know flock to it of course that happens but overall this technology is revolutionary and of course we can dive into that in other episodes but I think I've dived into it enough as far as how great Bitcoin is so anyway what I suggest you to do is also you know go down to the bottom here subscribe to the channel click on the link of the interview with the Yahoo uh finance and noriel rabini it's only about a two and a half minute video so you can see what I'm talking about directly for yourself alright that's all for now foreign
Comments 0