Web3.0: A Libertarian Dystopia

Why hasn't the Irs investigated them for painting the tape?

Anyone ever needed a reason to hate Mr Beast even more? Nfts....

I love me the old days of bitcoin, when people were actually cared about the vision, mined some coins at home and thought it was the coolest thing ever going out and buy a burger and some fries for 4 bitcoin or something. In hindsight it was the most expensive burgers anybody could have eaten, but this absolute bs the whole deranged crypto world evolved into is just sad. It actually makes me sad.

So Peter Thiel is making Skynet... well, better get Sarah Conner on the phone...

Given the current slide towards working 24/7 for the common U.S. grunt, most would be THRILLED to have a five day work week let alone one that lined up with the ACTUAL weekend.

Oh dear, I almost died when you popped out of the toaster!

That Brooks guy comparing the advent of the internet to investing in crypto is just stupid … maybe the guy has a hidden company somewhere he you to invest in.

NFT's are actually just a list of numbers. With each number being represented by a Jpeg. You don't buy the picture but the number on the list said picture corresponds to. So you don't own the picture at all, just your spot on the list.. Nothing is stopping anyone from copying it and good luck in court. The judge will laugh you right back out if you claim someone stole your ape. The second people get that is the second they realize that NFT's are all bull and vapor. They represent nothing other than the stupidity of those believing in this scam.

Just got this recommended. I'm so happy, that NFTs are currently crashing hard and crypto currency is also not as "cool" anymore.

Web 3.1 will be amazing...(I wonder how many people will get that joke;) )

Really enjoyed this video as I’ve been spending quite amount time trying to understand the bitcoin craze and came to the conclusion that I don’t understand it. The other conclusion I came to is DON’T TRUST ANYONE UNDER 30!!!!!!!!! They are all shallow humans with not a thought on how to contribute to society’s problems but rather getting breast implants and buying $30million dollar properties. The planet is doomed. HOWEVER, watching you present this information give me hope than not all under-30s care about nothing except money - making lots n lots of money.

Great video! The characterization and comparison of Web 1.0 and 2.0 was a bit iffy but it's not like that was the point of the video anyways.

Yes

How embarrassing is that Margot Robbie scene for you?

Hierarchy shows are made to take away agency.

My problem with the Ethereum distributed data apps is that there is no oversite, no expert judgement. You essentially just have to hope that some code written by a software engineer and, hopefully, approved by a lawyer, executes the way it purports to over time without unexpected results or weaknesses that result in exploitation or sophisticated attacks. Right from the jump though, when two entities enter into a contract like a home insurance contract, are you seriously going to tell me that the person buying the insurance will have access to the same level of technical and legal expertise as an insurance company? Imagine that your home was just destroyed. Your insurance documents clearly say you are covered but uh oh, a specific bit of code added into the crypto contract reduces the insurance companies liability under an incredibly specific and subtle set of circumstances that could only be detected by experts running analysis code that requires tens of thousands of dollars of computation time and expert analysis to detect. And, so sorry, but this contract voids your ability to sue them in the court system, so you have no choice but to eat it. I work in security data science, I see the things that create unintended risk in software every single day. Running something as critical as your home or medical insurance contracts this way is madness. And you may be thinking "hold on, no insurance company that uses tricks like that would stay in business very long; the market will work this out" and you'd be right, in part. But only after a bunch of innocent people got screwed, and you're assuming they would use it for every circumstance so that it was easily detectable. But that's not the way it would play out. Companies have already designed their products to make reasonable profits when everything is playing out the way they expect. That's not the problem. The problem is businesses like insurance companies are just like people, every once in a while they want higher profits to make investors happy or they just plain get stupid or greedy and they reach beyond what they should, and a system like this would let them pass the price of their folly onto their customers when it really mattered like during rare events like major storms and the like. This is a disaster waiting to happen.

Wow, I've never really followed Jordan Peterson, I think I've seen a portion of one debate he had with a British female reporter but that's about it, but that talk about racial advantages which by definition implies racial disadvantages, is kind of terrifying. That's some Nazi-level garbage there.

This life is a nightmare

There's nothing inherently wrong with the gold standard, provided you implement it in the right way. Many of the powerful stabilizers we have like FDIC insurance could be implemented on the gold standard as well, they just weren't before the switch to fiat. In other words, a lot of the regulations and controls put in place weren't specific to fiat but were lessons learned from the great depression. The advantage of fiat, once you boil off a lot of unnecessary details, is that it allows monetary supply to be controlled in ways that prevent great depression style stalemates where credit is stuck in a deep freeze and nobody has much power to get things moving again (without major changes that would bring their own problems). We saw the advantage of this in the 2008-2009 financial meltdown. Pre-fiat, that situation would almost certainly have led to another depression, but that outcome was avoided by the fed using a variety of tools to inject massive amounts of capital into the system to thaw things out. There is very justifiable anger about how it was implemented, who was bailed out vs who was left to fail etc., but the end result was undeniably good, not just for us but for the entire world. Creating new money to inject into a frozen system is the superpower of fiat, while its kryptonite is inflation. The gold standard has less issues with inflation because monetary supply is tied to something tangible, but without serious reserve planning that governments tend to be horrible at it cannot inject much new capital. We have seen via the great depression what happens when the gold standard meets its kryptonite on a global scale, but we haven't yet seen what happens when fiat meets its own kryptonite globally. Should a global financial meltdown ever occur and the fed runs up against runaway inflation during capital injection, the world will once again be in a serious crises without an obvious means to solve it. This is one of the reasons people were spooked by the sudden inflation spike in 2022. There were numerous causes of the inflation unrelated to monetary supply, but people still held their breath because there has been a major financial meltdown every decade since Clinton signed into law a lot of financial deregulation in the 90s, and every time that process of monetary supply is tested there is a chance that the global financial system will reject it by discontinuing the US dollar as the worlds reserve currency, which would end the federal reserves ability to inject capital more or less consequence free. Should that happen, some very bad things will happen to the US economy, and by extension the worlds economy because of how tightly integrated the worlds major economies are to ours, but that doesn't mean it won't happen anyway.

Whats the theme song being played when you start a new topic?
That shit was killing me.

Pretty sure I’m here for the creator. Distractocute. And funny too.

where was this video when poor 18 year old slash williams 888 bought $300 worth of crypto coins that were on their way 2 100k by june 2021

I would put up with the adverts for this.

so comprehensive <3 great job!

Boy did this video devolve into a bunch nonsensical fearmongering (you know pushing conspiracy theories complaining about people who conspracy theories).

Is this liberetarian island the philosophy behind Elon's mars colony?

U live in a very interesting bubble....

I just stumbled over you, baby. You are wonderful. Brilliant, beautiful and talented. And with you heart in the right place.

Love your vids, but please do more research as a lot of this is wrong

Let's be very clear about just how bad things could get with any normalization of White nationalism: it could lead to English adults in England organizing in such a way so that foreigners there can't groom, exploit, and violate another 100K English girls. Naturally that would be pure evil. It's much more important for people not to lose focus on fighting imaginary xenophobia, on enjoying the elusive benefits of multiculturalism. Just say no to "White nationalism": innocent "systemically privileged" White girls can wait.

Yeah libertarians have nothing to do with web 3.0. We actually laugh at NFTs and the idiots who use everything related. I dont think you have actually met a libertarian before.

I refuse to believe that "Web 3.0" is anything more than cryptobros coping about their 42069k monkey image thats worthless 3 minutes later.

This has been incredibly informative

Wow, it’s almost as if the entire construct of economy and ownership is bunk and shouldn’t be the crux running our lives in the first place.

Gonna age myself but windows xp was an absolute banger.

Bankers love people who are blind to their financial slavery… wander why the UK and other similar countries going down the toilet in terms of quality of life? Keep saving in debt coupons (fiat currency) and complain that your rent doubled in 10 years while your income stayed almost the same.

NFTs and the related paraphernalia are like the masculine version of MLM grifts. It’s insane. The community around it is so aggressive, delusional and toxic.

Amazing video. Thank you for this. Incredible work

I wish I could hit 'like' on your video 10 times over! 👏👏👏👍👍👍

Love that Peterstien guy and his faulty source data about a handful of Ashkenazis and their massive IQs. 😂😂😂😂

"computer coins" is awesome

Hey, I'm from a future some time before 2033.

It popped, really hard.

How can you trust anyone to give advice on a stock that they are personally benefiting form ?
Everyone who took the COVID19 vaccine did. There is no such thing as impartial advice. Marketing propaganda works. The state and the central bank are just selling a product too.

Grandma mune killed me.

This screams i dont understand the subject but im gonna benefit from speeading hate about it

is the squeekee mouse voice funny. NO ! is bit coin the road to communism

NFTs are literally the dumbest use of a blockchain ever.