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The cryptocurrency market is not in a good place and the recent FTX scandal has set questions alight on if this cryptocurrency crash is the one that will keep the downturn going. In order to understand what happened with cryptocurrency, we need to understand the scandal behind Sam Bankman Fried, also known as SBF, and his companies FTX and Alameda.
In this video we’ll talk about the recent cryptocurrency markets, and explore some of the problems with FTX and how it might represent a systemic contagion risk to the entire cryptocurrency market. We look through some oversights I made in previous cryptocurrency videos and we’ll cover the FTX collapse explained.
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#cryptocurrency #ftx #cryptonews
16 min gang thank you for the content
I listened to this for 25 minutes… Cryptocurrency is in the words of Elon Musk "a hustle", aka scam, all of it, always has been. It should be regulated, because if it were regulated it wouldn't exist as a market at all. It's a greater fools game, where the only value is what you can get the next sucker to pay for it. It's "decentralized", but requires centralization to be usable at all. Seriously, watch "Line must go up"… get your money out and stay away from this "toxic waste" class of "asset".
15:55 My Nash coin is going up in value. Hoping to trade it for a legit Black Lotus soon.
All roads lead to Decred
Big fan here, love your videos usually, but this just missed the mark completely. Won't go into everything that's wrong with it since I disagree with 90%+ of it but I really love your takes and opinions so I would urge you to talk to knowledgeable about the space to maybe clear up some misconceptions. Just commenting because I really respect you and all your work and this video was a bit disappointing. Keep up the usual awesome work though!
16 minute secret callout! 69th like ( ͡° ͜ʖ ͡°)
It's hilarious watching Devin realize the dangers that have been told many times now and ironically calling for regulation which was like the selling point of the whole thing
Ads rolling at the 16 minute just before the cliffhanger? Master stroke Mr Nash – legend! 16 minute crew represent.
idk but im still salty i didn’t buy eth when it was $12 a coin lol
i really hope the investors GTFO of crypto. it is supposed to be used like a currency, not in price speculation. those of us who want to use it as intended would be far happier if these other people just left.
the funniest part is that Crypto's only savior is the one thing that will ultimately murder the original design ethos behind crypto to begin with. Ultimately though artificial scarcity will continuie to cause problems for as long as we manufacture it for no reason other than to extort money, which ultimately has no real use other than what society has assigned to it, out of the poor so the rich can keep their top spots. Yeah, this comment of mine makes it pretty clear that I am not a fan of scarcity based economic systems at all and despite the interesting technology behind crypto, it's still based on scarcity, and is nothing more than a decentralized version of our traditional fed backed currencies that only have value due to the government now that we are no longer on a gold standard.
Thanks for the update and keep doing what you do. Success is dependent on the action or steps you take to achieve it.. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke. Investment is building a safe heaven for the future. With the right choice of investment that has at least 1% minimum risk and with an expert guidance profits and interest is 100% guaranteed. I’ve come to realize as an investor that instead of letting my money sit idle in my savings account it’s more productive to invest the little available and build a portfolio from the accumulated profits of investment. The competition is on and every trader wants to be the best and successful but the truth is not everyone can be successful in trading. But I stand to say in Crypto-currency and Stock trading. That's to say trading is more profitable than holding. I really trust Eunice Berthold and hes services are top notch….
FTX happened because human greed and or incompetence. Crypto itself is the same as before, you can keep your crypto in personal wallets and use DEX es to swap. If anything this should have taught people to get a cold wallet and keep their crypto there. We will be back in 2024 with bitcoin halving and USA elections
I'm still here at 16 mins! Another interesting one in the crypto space is Silvergate Capital – an actual bank that build a transaction network. Their stock price has been hammered hard, despite the fact that they are a public company and a fully regulated bank.
I owe you and myself and my other self and my other other self. Oops
16 min, great video.
The problem was not with crypto but with FTX. If you had your crypto off of the exchange, as you should, you didn't lose anything. You are grouping the 2 things. Plus you are grouping all crypto coins, aka shitcoins, together. Yeah any shitcoin can sell everything and goes to 0 but that can't happen with Bitcoin for example, just like a company you invested in can be sold or go bankrupt. Crypto will recover way faster than 5 years.
I'm <new to trading how can I make more profitable investment in market now
The 16 minute secret callout! 🙂
At 11:21 you lost the plot. Investing in "crypto" is only as valuable as two things:
1) is the coin your investing in decentralized
2) can you maintain your own custody
The answer is "yes" for Bitcoin.
For everything else, the answer is "no" for one of those questions.
So, if you want to avoid being stuck on a centralized platform, purchase the coin, then take custody of the coin. This will work just fine for Bitcoin and not for anything else.
So stick with just Bitcoin.
Tether and other exchanges "stablecoins" propped up a lot by faking assets. A lot of this video describes 10 year old problems that only have gotten worse with the exchanges getting bigger.