Forget about AI, Blockchain and Crypto Currency is the real problem solver in todays society.

Forget about AI, Blockchain and Crypto Currency is the real problem solver in todays society.

forget Ai and all the big Tech nonsense
they’re trying to force down our throat
every five minutes let’s talk about the
real future of technology and the way
it’s going to shape Society hopefully
for the better the 2.4 trillion elephant
in the room blockchain and
cryptocurrency my name is UK let’s have
a chat about it shall
we hello everybody and welcome so this
one’s going to be a long one I’ve got
chapters down below you can skip around
and watch however you see fit but I do
believe there’s value in watching this
video so before you go and leave angry
comments down below make sure you at
least skip to the part where hopefully I
explain where I’m coming from in my
point of view it’s fine to disagree with
me I love conversations about these kind
of topics but give me a chance watch the
video then leave a comment I beg you so
to understand the problems that we today
in society you need to understand the
basics and we’re going to start at the
very beginning with money you see right
now banks are using a system called
fractional Reserve banking now if you
don’t know what that means here’s a
quick 60c guide to fractional Reserve
banking see here’s a real world example
of how this current system works say I
go to the bank and I deposit $11,000
that bank legally only needs to store a
fraction of that deposit sometimes 5 10%
so let’s say 10% is stored in the bank
vaults or on the bank computers that
other 90% is then free to be lent out as
credit what this then does is it
effectively creates new money out of
thin air you have the 10% of the deposit
$100 in the bank books and then you have
the other $900 lent as credit being
spent in the economy that’s
$1,900 so that
$900 that was made out of thin air is
then spent and circulated around the
economy all commercial Banks use
fractional Reserve banking it’s
imperative you understand how basic
money Works in today’s society to then
understand well how is crypto and
blockchain Technology going to fix some
of these problems
well let me tell you about some of the
problems of fractional Reserve banking
when you create more money you create a
higher supply of money inevitably you
create inflation there is more Supply
there is more liquidity in the market
with inflation comes higher interest
rates have you ever heard the term the
the great wealth transfer we’re
currently experiencing that right now in
our lifetime because what’s happening is
these banks that are creating this money
out of thin air to generate revenue for
their banks are then charging interest
on the credit and the the debt that
they’re giving to Consumers they’re
making money on the interest payments of
money that didn’t exist so it’s regular
people who are paying for credit these
exuberant interest fees some of these
credit cards 17 18 20% interest is the
transfer of wealth from that interest
payment to that bank is absolute
Insanity so it’s important to understand
the basics and the fundamentals of money
how it is created how it is used how it
is spent and the problems that we’re
facing today as a society because the
transfer of wealth from everyday
consumers with record level of credit
card debt paying interest only payments
as just free money for these Banks
another massive drawback of fractional
Reserve banking is there’s always that
chance of a run on the bank if you’ve
heard this term before this essentially
means depositors will flock to their
Bank to try and take their money out in
a time of Panic or unease and the bank
physically doesn’t have enough money to
process these withdrawals these run-on
banks have happened historically and
who’s left holding the these empty
receipts of worthless paper where they
can’t even get access to their money
that’s now become worthless due to
inflation and then hyperinflation it’s
regular people it’s it’s the little guys
time and time again how many financial
banking crisises do we need to go
through to realize that this is a
massive problem that needs to be solved
well ENT a cryptocurrency you see
cryptocurrency and blockchain Technology
solve the majority of problems that this
functional banking system creates in the
first place here we have an absolutely
useful technology that can be used to
solve a very very very fundamental
problem with the global economy with
blockchain and digital cryptocurrencies
there is no infinite money printing with
Bitcoin for example there is fixed
Supply and it will never go above that
fixed Supply this should in theory fix
inflation over a long period of time you
have other cryptocurrencies like
ethereum and smart contracts which can
solve all of the other problems that
come with traditional banking stuff
think about fees transaction speed
transaction costs
trust you name it ethereum has the
framework through smart contracts
through programmable money to solve
95% of all of the world’s financial
problems but we’re in a bit of a pickle
you see right now cryptocur currency is
the Wild Wild West it’s just like the
early days of the internet when the do
bubble exploded beyond belief and then
burst we’re at a period in time where
cryptocurrency is so heavily frowned
upon just based on the fact that people
have used it to scam and manipulate and
to make money from other people through
all kinds of different shitcoins rug PS
memes nfts you name it right now we have
the SEC desperate trying to control the
crypto runaway train they’re never going
to there’s always been talk of a cbdc a
central bank digital coin it’s never
going to happen the the first mover
Advantage the Bitcoin and then ethereum
and then all of the other cryptos have
over something like a cbdc is
unparalleled unmatched and unbeatable
you see if a government tries to control
cryptocurrency through regulation and
through investor protections all it’s
trying to do realistically is stifle the
growth and development of blockchain
Technology you see the SEC and the
government all around the world they see
cryptocurrency and blockchain as a
massive threat to their
profits if you want to know some really
good stock picks just go look at Nancy
Pelosi and her husband’s portfolio copy
their trades and who would have think
you’re going to get everyone just right
this world this economy today’s society
is based around a fundamentally flawed
system
cryptocurrency eventually will solve
this the issues with fractional Reserve
banking are just the tip of the iceberg
when we talk about some of the problems
that cryptocurrency and blockchain
Technology can solve the list is endless
we’re talking anything that goes into a
database can be stored on the blockchain
any anything any financial transaction
your mind could possibly think of could
happen on the
blockchain any type of payment for
service or product can happen on the
blockchain we got a ways to go before we
really fully Embrace blockchain
technology and cryptocurrency are part
of our day-to-day life we will get there
though unlike Ai and what big tech
companies have shown off in terms of
trying to problems that really don’t
exist cryptocurrency and blockchain
really is the future of sound money and
when I say sound money I mean we’re
going to get to a point probably here in
the next 5 to 10 years where these
decentralized blockchains account for
90% or more of all transactions
worldwide you see not only does
cryptocurrency and blockchain Technology
solve a pleth of problems it’s also
leading the way to new innovation and to
new ways of thinking about how the world
uses money and how we interact our
day-to-day lives using money Fiat
currencies essentially uh a paper or
coin denomination of currency that isn’t
backed by anything
fail the currencies just fail it has
happened every single currency
throughout history the reason being
there is nothing back in that currency
there is no standard the US dollar used
to be backed by gold I think it was in
the 60s or 70s when the United States
government decided to remove the gold
standard and allow money Printing and
hyperinflation and all kinds of problems
that come from removing a actual
physical backed denomination into a fiat
currency that can be printed
and created out of thin air that has no
back in the economy is absurd it is
truly Bonkers how backwards things are
right now it is almost mindblowing how
we as the people are transferring our
wealth on such a massive scale straight
back to these bankers and who are these
Bankers transferring the wealth to it’s
the
politicians I’m not going to go too deep
down that rabbit hole in this video but
hopefully what I’ve done is I’ve changed
your perception a little bit on
cryptocurrency and blockchain because
yeah while it has probably the worst
reputation in the world right now as
this specula bubble or Ponzi scheme that
isn’t the case while there are a lot of
aspects to cryptocurrency that aren’t
showing it in its best light it is the
future of ultrasound money and that’s
not just my opinion I’m not just
throwing these wild ideas out there $2.4
trillion dollar of investment into the
cryptocurrency space as of today that’s
a lot of money when you start talking
trillion with a te Banks governments you
name it all lies how do we stop this how
do we stop this runaway train that’s
going to take over the the entire
Financial economy they can’t we’re so
far down the line now this thing has so
much momentum that the snow ball we’re
seeing right now is only going to get
bigger you see while the crypto market
today has a total market cap of around
2.4 trillion we’re about to experience a
Monumental explosion when it comes to
cryptocurrency prices because Banks
knowing that they can’t compete well
they’re trying to get in on the action
themselves the Bitcoin ETF was just
launched giving investors access to
bitcoin safely and ethereum ETF is also
on the horizon why are these products
coming now well you can’t stock
cryptocurrency it’s only going to get
bigger and stronger and more integrated
into our day-to-day lives and it is
going to solve problems and that’s the
thing that we need to look forward to
because fundamentally our economy is
completely scuffed whether you’re a
Millionaire on a yacht or you’re
paycheck to paycheck struggling to pay
for food F struggling to look after your
kids working two and a half jobs this
economy is scuffed it doesn’t work for
the population period but we’ll get
there there is a light at the end of the
tunnel and this light I believe the
future of money the future of
secure cheap fast transactions that
nobody can fiddle with nobody can mess
with nobody can manipulate the story on
the blockchain they can’t be changed
they can’t be altered there can be no
fraud there can be no
scams we’re way away but the momentum is
on our side and as regular everyday Joes
in society who go through financial
collapse after Financial collapse if
it’s not the.com bubble it’s the housing
crisis it’s not the housing crisis it’s
inflation it’s not infl
it’s going to be whatever this next big
thing blows up and absolutely cripples
Society for several years while Banks
and governments decide how they should
stimulate the economy by throwing a few
quarters of the population to fix the
damage that they themselves created you
see I could sit here and I could talk
all day about the benefits of blockchain
technology and cryptocurrency what I
think it’s going to do for our society
in the massive huge benefits that the
blockchain technology and cryptocurrency
are on the precipice of delivering to
regular everyday people because I am a
regular everyday person I have Financial
struggles I’ve gone through financial
crisises I get you know where we’re at
right now but with a deeper
understanding of just the basics just of
how money works in the first place and
how we’re being duped into this huge
wealth transfer where we’re paying these
Monumental interest rates back to the
banks is this going to be another you
know huge financial crisis where the
banks are sitting on record profits and
Occupy Wall Street happens again or who
knows but we’re very close I think we’re
two to three years away from a slightly
more utopian society that
respects human beings that respects a
mon fair and balanced monetary system
that doesn’t only benefit the top
bankers and politicians and lawmakers
that benefits everybody because that’s
all I care about Good Vibes Good Times
everybody’s happy let’s have a fair even
playing field for everybody because that
that would be fantastic don’t you agree
let me know in the comments what you
think I could talk about this all day I
know I’m sorry I’m going to wrap it up
here but for now I’ve been UK you’ve
been fantastic I will see you in the
next one

Learn about fractional reserve banking, creating money out of thin air, inflation and bank runs while I dive into solvable problems blockchain and cryptocurrencies can solve. TIMESTAMPS BELOW watch this next: https://www.youtube.com/watch?v=KKdhMQvCBLQ

#crypto #cyptocurrency #economy

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0:00 Intro
0:56 How Banks Work
1:05 Fractional reserve Banking
2:24 Problems with Fractional reserve Banking
2:46 The Great Wealth Transfer
3:57 Potential run on banks
4:45 Enter Crypto Currency and Blockchain technology
5:08 Bitcoin and fixed supply
5:25 Ethereum & Smart Contracts
5:54 Cryptos Bad Reputation
6:54 Crypto Regulation?
7:41 Examples of problems solved
8:53 Crypto is leading innovation
9:12 The problem with Fiat currencies
10:28 a changed perception
11:33 Bitcoin ETF
12:18 Current Economy
13:50 Final thoughts