Economist Breaks Down Bitcoin & Cryptocurrency w/Richard Wolff
7 years ago by thejimmydoreshow (60)
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He couldn't be more wrong about Bitcoin!
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How about Steem Coins? lol.
Bitcoin and other crypto-currency is the way to go if you want to guard your privacy, stay anonymous, and all that kind of hacker type stuff. That being said, I've noticed this new trend where the Main Stream Media is trying to lure investors into putting their funds into bitcoin. That sounds like a pitfall in terms of Ponzi schemes, embezzling of funds, and large scale currency manipulation.
If you want to invest, I'd say, just use USD. If you want to stay off the radar regarding this or that commercial transaction: then Bitcoin or other crypto is the best bet!
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Blockchain technology coupled with smart contracts and adequate governance mechanisms could be used to leverage a more egalitarian distribution of wealth. Modern corporations could disappear and be replaced by DAOs (Distributed Autonomous Organizations).
The problem with the failed socialist experiments was the centralization of power in a few hands which has nothing to do with socializing private property of the means of production.
I think that socialists and or Marxists should take a closer look at what blockchain technology can do.
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This guy is not well informed. He is just too general. Bitcoin was not invented as an investment, it became one. The idea is to be not reliable on banks - be your own bank.
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Dear Jimmy & Co, This might not the best place to post this one 😉
Besides that! I have nothing but love for you guys! I respect and appreciate all the research and knowledge you have shared over the years. And most of all I have enjoyed the fearless and funny mentality in which you have presented all topics you talked about.
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About this video
While I respect Richard Wolff and have enjoyed his comments on economics and politics. I do not always agree with him on every single thing. Which, (in my opinion) is the most healthy thing to do. And I believe one should never follow someone blindly even if you agree with someone 90% of the time. One should -always- do there own research. A lot of his thoughts on corporations, the US, and Global political landscape have been of value to me. But I think he doesn't fully understand the world of cryptocurrency.
A couple of thoughts on why I believe Wolffs his opinion on bitcoin were a bit shallow & thin.
Bitcoin
Blockchain
That is what gives cryptocurrency real value in my opinion.
🙏
MvE
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Haha, thanks for this interview ;)
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