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Yes, the video is very long and dense, but Dan Olson does an amazing job of making it approachable. It covers the 2008 financial crisis, different types of crypto, online privacy and web3.0, and NFTs to top it all off. If you only care about Bitcoin watch a little bit from the timestamp I linked to.
Here are some other comments from the last time I saw it posted.
https://www.reddit.com/r/videos/comments/s9fek3/the_problem_with_nfts/
Record lows???
One of my favorite points he brings up is the absurdity of them wanting to tie your medical records to the public and decentralized side of Ethereum.
I really need to watch this. I keep meaning to, but I always forget.
Record lows? I remember when this shit was worth pennies
As much as the internet wants it to, crypto and nfts aren’t going anywhere anytime soon
Back in the old day, I got mine for a $20
The whole NFT craze will go down in history like when literally everyone and their grandma had to make their own Geocities website back when the internet was the hot new thing.
Every technology goes through this stupid phase it seems.
Saying “record lows” immediately strikes me that you don’t know what you’re taking about and I don’t even want to click on the video
Haha I can’t count how many times crypto has been “dead” before. It’ll be back
Genuine question as I wasn’t really ‘aware’ of Bitcoin anywhere before say 2021. In the other big drops mentioned in this thread, like 2011, 2013, 2017 etc, was the reporting or discussion all ‘doom and gloom’ and ‘crypto is dying’ ‘it’s a pyramid scheme/scam’ you name it, all the stuff that’s being said about it now or is this drop being treated differently than the others ? I’m assuming crypto is more mainstream now and this drop will discussed differently purely based on that for starters ?
Record lows??? Where were you when this was 11 cents a coin?
This doesn’t make sense. BTC has dumped from $20k to $3800 between 2018-2020. (And that’s a recently dump)
Bonus: you can watch the tally rise on web3isgoinggreat.com. An extensive list of all the crypto scams, hacks, rug pulls and „oopsies“ of the past years.
Total amount goes brrrrrrrr
Did not expect to watch a 2hr documentary and yet here I am. Very engaging.
“record lows”
LOL, ok then
Lol record lows
Why is web 3 so dead set on recreating scarcity? We have a digital frontier that can offer theoretically limitless knowledge to any and all, yet these crypto bros want to exasperate and codify DRM and recreate material conditions of scarcity in order to exploit it for profit and speculation.
It makes me sick honestly. Web 3 is not a step forward, but a step back into the 19th century couched in techno-lingo.
The doc is right. What web 3 achieves isn’t progress, but a changing of the oppressing boot.
For Crypto Bros this Doc is the equivalent of staring directly at the sun and it warms my soul
I cannot recommend this video highly enough. Easily one of the best videos ever uploaded to YouTube. I’ve watched it at least 3 times.
This all illustrates the following issue: just because you’re competent at one complex profession doesn’t mean you know jack about others (in this case, finance/monetary policy).
Don’t trust plumbers to do carpentry.
Don’t trust butchers to do plumbing.
Don’t trust artists as your doctor/for medical advice.
Don’t trust lawyers to do coding.
Don’t trust coders for financial advice.
That’s not to say the tech doesn’t have a future, but the people who create it don’t consider issues like….privacy, money laundering, etc. as it’s stands though, NFTs are a new version of tulips.
Dad wanted to buy Bitcoin just before the drop. I showed him this exact video and he reconsidered. He’s really happy I stopped him.
It’s just poker chips with a fluctuating value that depends on the amount of dummy’s willing to buy in and drive the price up. It’s not stock, you don’t own a stake in anything real, you own a stake in the hope that people will keep investing. When they don’t, the value drops.
I think on a long enough timeline it drops to numbers so low that crypto is another joke on the record of the internet.
I understood the basic concept of “Crypto bad” but this video does a great job breaking down how almost the entire blockchain is just castles in the sand built on top of other castles in the sand.
“record lows”
op ur dumb and should feel bad for the messed up title
This video is what made me sell all my crypto positions.
The doc is a real masterpiece. I recommend it.
I have watched it like six in seven times it very good and not boring.
[münecat video about web3.0 is also gold](https://www.youtube.com/watch?v=u-sNSjS8cq0)
Nice try. I already watched it again this week from someone else linking it.
oh, what the heck. See y’all in 2 hours.
I always shout out this documentary for the amazing tossing of a worn copy of ‘50 Shades’ into the river that is actually by my house…
Hell yeah, Dan Olson! His videos are some of the highest quality content on YouTube. I’m so glad this got to r/popular, he deserves way more views and subs than he has.
When I first quickly glanced through the video, it was a man staring at a camera for more than 2 hours and just talking and I really thought it would be incredibly boring!! Man, was I wrong? You simply can’t stop watching. What an incredible talent this guy is!!
Record lows since 2020 maybe.
Lets see what else is “record low” since 2020:
Twitter,
Meta,
Apple,
Amazon,
and so on
We have bigger problems ahead of us than meme crypto JPGs
I can’t believe people are really thinking crypto is dead. This is 2017 all over again.
NFTs take the idea of “art should only exist to make money” to the extreme now, despite it initially being proposed as a mechanism to fairly protect artists’ otherwise lost revenue.
Is it at record lows?
Seems like hyperbole.
It is important to note that not all crypto are the same just as not all securities are the same.
Bundling in penny stocks and s&p and trying to make a generalized assumption on their behaviour and performance as a set wouldn’t be acceptable in stocks yet it’s all we see the media doing with crypto.
As the documentary shows expecting to get rich quick by following the mob is not a valid strategy, but at the same time one can notice a ridiculous level of focus on crypto while the real market which will hurt everyone is crashing harder than it did on 1930. And the sell off has not even started.
But still it is also good to remember that with most investments but especially with crypto, dead wallets always outperform even the best strategies. Making moves out of emotional load is not the best idea.
Everything is at record lows and crypto is super risky still. It’s not going anywhere.
Isn’t everything just gonna be dropping down and down, not just crypto it’s a bloodbath everywhere.
hello, buried comment lol. but i just want to say this video makes a great double feature starting with his “manufactured discontent” video about fortnite, for those in the mood for a deeper deep dive