The END of the DOLLAR? Why do BITCOIN and cryptocurrency ARISE? – VisualPolitik EN

this video is made possible by nord VPN start protecting your internet experience today with 75% off a three-year plan by using the code visual politic at Nord VPN comm forward slash visual politic get ready because in this video and in the 1 after it we intend to do nothing less than blow your mind we're going to talk about what is perhaps the most disruptive innovation since the invention of the internet but first we're gonna ask you one thing and do let your imagination fly here try to think and conventionally they ready let me start with some questions can you imagine a new form of money can you imagine companies run by non human owners can you imagine a company whose owner is a few lines of code located in the digital cloud can you imagine a company or an NGO with no human workers folks 2018 it wasn't bitcoins year I think we all know that lately every bit of news related to this currency has sounded extremely worrying bitcoins crash looks like a real currency crisis bitcoin is in crisis you can never really declare it dead but its price has slumped 80 percent in less than a year wiping out 700 billion dollars of cryptocurrency markets Bitcoin biggest bubble in history says economists who predicted 2008 crash Nouriel Roubini calls cryptocurrency the mother of all bubbles the only currency worse than Bitcoin is Venezuela's Bitcoin is worthless artificial gold bitcoin reminds me of Oscar Wilde's definition of focsani the pursuit of the uneatable by the unspeakable Bitcoin and Aiko's it's one of the crazier speculative things but wait just a second because in spite of everything it brought about a Bitcoin is more than just a currency blockchain the technology that supports it could become nothing less than the operating system of an entirely new economy a key instrument for organizing the Society of the future we're talking about a system that could allow us to create a very different society than the one we all know a society organized in innovative ways without hierarchical entities without borders a new perfectly decentralized society and if you're thinking this sounds just like the internet when you're kind of right there's some really good technology in terms of sharing databases and verifying transactions that is talked about as blockchain that is a good thing for the first time in the history of mankind's this technology can render politicians banks governments and large corporations as we know them nearly obsolete when it comes to our money here on visual politic we've already talked about the applications and changes that cryptocurrency and blockchain are causing we do told you about how one Swiss can zone wants to become the new capital of the icos well now we want to look towards the future so let's talk about cryptocurrencies let's talk about blockchain and let's talk about smart contracts because folks saying that this technology is simply money is like saying that the Internet is just email but hold on a second before we move on we need to know the exact meaning of Bitcoin and what it brings to society first we'll take a look at money what exactly is money what problems does it pose how useful is cryptocurrency well listen up the origin of money folks you use it every day but if you ever really asked yourself well what is money why do we value these little pieces of paper quite so much what's the difference between monopoly money and actual paper money why is this worth more than the other how is its value determines taking an example if you ever got lost in a desert which we define more valuable a $100 bill a diamond or five liters of water in other words how much would you pay for a nice cold drink in the middle of the Sahara there's no need to really think about that obviously it's not a serious question [Applause] what we want to get across is that we value things completely subjectively the money we all know though those coins we carry in our pockets have a certain value simply because we all agreed to give them that value of course we've never held a meeting to discuss it we've never voted or agreed on it or anything like that which is sort of paradoxical when you think about it by the way for those who are tempted to think that money's value is set by governments just think about what happened to the Bolivar in Venezuela what exactly is money don't be deceived money is nothing more than a language a linguistic abstraction with money we transmit the idea of value to each other for example that's what we do when we say that a house is worth so much in euros or dollars in other words the value of things is very personal and depends on how useful and worthwhile that thing is to each of us and money is no different its value isn't set in stone it depends on the decisions we make every day every hour every instance that is the paper itself is worth next to nothing therefore saying that a cryptocurrency can't have value because it's in the cloud it doesn't make sense it can have the same value as any other currency having said that folks let's take a look at a slightly scarier feature one where there's a huge difference between cryptocurrencies and conventional money do you know that no matter where you live every day you're a victim of a small robbery listen up because this is probably modern money's largest defect an unstoppable depreciation we've said it plenty of times here on visual politic the money we all use every day the paper currency those coins we have in our pockets they have a huge defect and that's that they're issued by governments and public institutions and yes the central bank is also a public institution that is ultimately how politicians control how much money is issued let's not deceive ourselves here these politicians will always want to speed up the money-making machine now this poses a huge problem is like being robbed without really noticing it allow me to explain myself when a government prints more money it creates inflation that is money loses its purchasing power and the money's value dilutes and that's happening to all the money and all the savings that you've gathered in that currency Venezuela's currency plums unknown depths hyperinflation has seen the Bolivar lose 99.9 percent of its value in two years but you may be thinking wow all right Simon I mean fine but surely this only happens in developing countries or those with populist government's right well no that's not in the least true yes evidently in these sorts of countries that process tends to be quicker but historically no currency has ever maintained its value for more than a generation let's take a look at the dollar the most popular world currency today well nowadays the dollar is worth 2% of what it was worth a century ago and that's due to decisions made in Washington over the last hundred years that has caused the dollar to lose 98 percent of its value surprised well Toby because this problem is really nothing new the problem indeed existed in ancient Rome Emperor Diocletian for example was infamous for creating soaring inflation rates and then trying to fix them by setting maximum prices but at this point you might have a couple of questions if the result is always the same why the hell does the government have a monopoly on money and second is there a way to prevent politicians from being tempted to print more money or to create more digital money which is even quicker and easier well this is where an almost insurmountable obstacle automatically arises see it's hard to stop a politician from being tempted to print bills and this has been attempted in several ways for example by formally turning central banks into apparently independent entities but no this didn't work much either among other things this is because politicians end up appointing the people who run those central banks but what if money was separated from the state allow me to explain because this isn't actually a concept that's that odd many people watching this video will believe that separating church from state is a good idea or separating powers that guarantee an independent judiciary so the question becomes why not do the same thing with money what if we the people everyday citizens created our own currency behind the politicians backs in a way this is precisely what many people who support the gold standard wants that is they want us to go back to using gold as a currency this is because gold it just can't be created out of thin air but hold on a second because this would be massively inconvenience and it wouldn't solve the problem historically banks politicians and others have always managed to make more money but this this is the 21st century I mean isn't there a better solution what if we think in a disruptive way well this is exactly where cryptocurrencies come in so listen up welcome Bitcoin welcome Satoshi January the 3rd 2009 1845 Greenwich Mean Time in an unknown location an unknown programmer nicknamed Satoshi Nakamoto created the first blockchain it's the so-called Genesis block of the blockchain and with that bitcoin was born now a lot has been said about Bitcoin and cryptocurrencies you can find all sorts of technical information online so no that's not going to be what we're going to cover right now on visual politic we want to deal with it differently we want to see the entire thing from a point of view that takes all of this technology's future implications into account because folks Bitcoin has some very special characteristics that make it quite unique and it isn't just that with Bitcoin you can pay for something on the other side of the world pretty quickly although it's a deflationary currency because no one's ever gonna be able to make more than 21 million bitcoins perhaps the most important thing is that bitcoin is controlled by nothing and nobody not even its creator Satoshi Nakamoto nobody is in charge of Bitcoin no scientists no corporation no bank no company it's a completely decentralized system it's people thus who freely and spontaneously givers or remove its value so now you might be beginning to understand nobody controls it nobody censors it nobody can limit it with Bitcoin you don't even need to identify yourself which means that nobody can know what you spent your money on this is very different from what happens when we pay with Visa or American Express all the information about our expenses the way in which we spend our money what we do at all times is within these companies reach and of course they give it to the country's current politicians but what if we want to spend our money without people finding out what we do with this in Europe and the u.s. this might not seem that important but think about what this would mean for the people in countries like Cuba or Nicaragua or Saudi Arabia there you don't trust your local politicians so you don't want them knowing what you're up to and of course don't forget about inflation which vanishes with Bitcoin so can you see these cryptocurrencies huge advantages and it's not only Bitcoin there's also a theory Monaro Kedah no I out a triple and many others in fact it's very probable that in the future several cryptocurrencies will coexist and what we value freely by the market and of course some will become very valuable than many others will simply disappear but there's no doubt about it cryptocurrencies they're here to stay so folks in this video we've explored what money is what problems come about with it and why cryptocurrencies are here to stay but this is only the beginning now that we know what we're talking about it's time to look at a completely different future but we're gonna be doing that in the next video but before you go remember that while blockchain might be a technological marvel and lead to more secure transactions in the future there are still plenty of security risks on the Internet and that's where today's sponsor Nord VPN comes in have you have been sitting in a cafe with some 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politik viewers 75% off three year plans and a free month for a limited time just go to Nord VPN comm slash visual politic or click the link in the description below to sign up and start protecting yourself that's nor DPN comm slash visual politic using the code visual politic check out to get started today and as always thank you for watching and if you want to learn more about politics and hear even more of my lovely voice you can join us at reconsider media we have a podcast at reconsider Mediacom / podcast see you there

27 thoughts on “The END of the DOLLAR? Why do BITCOIN and cryptocurrency ARISE? – VisualPolitik EN”

  1. youre not so smart. currency has value because of people employed by the issuer. same as this youtube channal has value because of you.

  2. Bitcoin since its inception in 2009 has had some beautiful moments especially when it reached its all time high of $20,000 and likewise, so many down times with its current decline and stagnation just around $3,900. Even though there are indications of a bull market setting it, there are no guarantees as the market has been a shocker to us all. Most crypto enthusiasts actually forget the underlying motivation which is to make money and they embrace the concept of HODLING which in itself is not bad but must be backed with a strategy to not only cut any chances of losses but also to maximize profit and increase your capital portfolio. I have made quite extensive research and what i decided to do with Mr Mark Hall's help is to increase my portfolio massively by trading so that if a bull run sets in, i would have amassed a very good amount of btc but even if we continue to go bearish, my profit margin would still provide me much coverage and a lot of return on investment still. The best thing with Mark's signals is their accuracy and he goes to the extra mile of explaining reasons for actions to be taken. In no time, i was able to increase my portfolio from 3btc to 7btc which i believe we would all agree is good business. You can reach Mark by mail ([email protected] WhatsApp:+447482876026), if you need any assistance in making consistent and significant profit from cryptocurrency

  3. Now is the time to buy BTC and altcoins!!

    Buy it at BTC ATMS, Coinstars,,, etc.

    Best exchanges are binance, Huobi, and IDEX (my opinion)

    Major institutional money incoming in the next year or 2

  4. Inflation is not a "defect", it's a feature. Ever heard of individuals, companies, societies… who are i debt? Imagine the value of currencies wouldn't degrade over time. The world wouldn't work the way we are used to…

  5. Hello there. Can i ask something? What really is a cryptocurrency? Why some wizkids developed a blockchain like ethereum or bitcoin to create a virtual money that has some value? I know that Fiat Currency is worthless coz' Gold is the only one that has a purchasing power. Yeah. I also know that Money is invented and all money in this world is backed by US dollars.

    My question is: Can i just invent a Money or Virtual Money of my own? A Money that has more value than gold. A Money that are valuable as Time. Would it be better? because like what i just said earlier, money is just invented by those wealthy faggots and yet we work hard, not knowing that those Fiat Currency are truly worthless.

  6. Intrinsic. A value that is built in, inseparable. Natural, native, constitutional, permanent, ingrained, inherent, innate, inborn, inbred, congenital, natural, native, constitutional, built-in, ingrained, deep-rooted, inseparable, permanent, indelible, ineradicable, ineffaceable. Whew! What a concept! Food, shelter, clothing, love, water, air…freedom? Especially economic freedom. Makes my head spin. How about you? Even gold does NOT meet those criteria.
    So what are we to say about this economy of trade between peoples? Wampum? Salt? I suddenly feel VERY inadequate. As if I have no real value in the scheme of things. And perhaps I don't. Any ideas out there?

  7. Great video but an asset with no party responsible means if it's hacked no one knows what's happening. You raise valid points but it's very dangerous having an asset where no one 'runs' it ie – think you buy a house using crypto and the transaction is lost, who will help you? even if they do they'll set their own rate to help you instead of a controlled rate set by government intervention

  8. As long as the ruling elite can devalue Cryptos it will never take hold. There is still a corporation or country that starts a given coin. Once they can create their own that is tracked by them and offered by them they may let it fly and it will be business as usual. Just another fiat currency except they have to play within the bounds of the block chain. I'm sure they will find a way to fake or corrupt the block chain.

  9. Excellent video Simon, thanks. Shame that i'm only able to give one like. Subscribed. The only complaint that I have is that shirt. Rocking the 80s Miami coke smuggler look but that's a look that should really stay in the 80s :o).

  10. Umm inflation isn't really a bad thing it usually indicates that an economy is growing or at least in the growth phase

    And politicians don't set the inflation rate or the amount of currency that is in the economy

    P.s. there are different kinds of inflation ex. monetary inflation(I think this is what he was trying to talk about in the video) and price inflation

    And if u want to understand some econ goto Khan academy or some somethin

  11. This first part contains huge portions of unnessessary pro US propaganda as well. We hope the second part will be better. And Bill Gates and the other old guy at the beginning of this film – disgusting. Just like two ancient tribal chiefs saying metal will never be good for mankind or weapons, we stick with wood, vinecord and leather.

    We need much more youth protests, flood the streets please!

    But okay, this is why we don't have enough children and youth, we wanted to kill ourselves anyway, 'because too much youth brings these artificial youth conflicts, which can be and should be avoided.' By not having enough children.

    Simon, this seems to be your prompt, a film about the necessity and helpfulness of youth conflicts please! Maybe we need a global, borderless pro Bitcoin uprising of the Young Generation. Joan Baez and Bob Dylan at Capitol Hill for Bitcoins freedom! Bitcoin belongs under the control of the newly formed United Nations of currencies, but not under the control of the USA!

  12. “These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina…" Bernie Sanders.

  13. Central banks won't allow crypto currency to become any more than a niche any more than they allowed Libya's independent gold Dinar, planned for all of Africa, to become a widespread reality.

  14. If a successful independent cryptocurrency is istablished this means the end of banksters. The most evil of people on the planet… And they are scared!

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