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  • wow out of all the people.

  • The one guy you would never think we'll get scammed is Mark Cuban.

  • If you have ever watched shark tank, you know what kind of tough questions you would ask to figure out if that started with the scam or not.

  • But here in the crypto world he fell for it.

  • Cuban is one of the world's most successful entrepreneurs.

  • He built an empire worth $4.1 billion.

  • In fact, he made his fortune during the.com bubble.

  • He sold the start up to yahoo for $5.7 billion, which was an overvalued company that didn't worth its money.

  • But he got away with billions of dollars and you would expect him to be cautious and smart.

  • But now A crypt, a company that promised a few 100% of returns scammed Cuban and ripped his money.

  • Cuban invested in China.

  • It's a Cryptocurrency talking that went from $60 to $0 in just a few hours prices fluctuate all the time in the market.

  • But this talking was a rocket that exploded in the middle of its way and it was a matter of time before it hits the ground.

  • Even Gamestop shares didn't crash that much.

  • In fact, Gamestop is doing pretty good now.

  • Just imagine how much interest the hedge funds are paying on their borrowed stocks.

  • Another company from South Africa that was founded by two brothers, vanished from the face of the earth with $3.6 billion examples.

  • what people don't understand about Bitcoin is that the Blockchain in which Bitcoin is based might be super difficult to hack.

  • But most of these online wallets or online platforms or new targets that emerged out of nowhere could be hacked or they could be just a scam.

  • Like the case with South African Brothers remember a bit connect.

  • It claimed to be an open source Cryptocurrency that guaranteed investors 40% returns.

  • It seems pretty realistic, however, did connect unfortunately turned out to be a Ponzi scheme that cost its investors an incredible $3.5 billion.

  • I don't feel sorry for the people who fell for it because you could say it's a scam by watching just one of their ads pin coin was another scamp a Vietnamese Cryptocurrency that raised about a billion dollars from 32,000 investors.

  • Instead of being paid back in cash, investors were rewarded with new Talking's coach.

  • I found before the team behind pink coin disappeared alongside all the invested money.

  • If you're not convinced yet, then good luck.

  • Does that mean Bitcoin or crypto in general is one big scam or a speeder till corsage a chinese financial weapon to destroy the United States.

  • To answer that question, we have to go back in history 1962 and mit computer scientist like older came up with the idea for global computer network and three years later he with his team successfully made to computers communicate with each other.

  • In 1969, a student from Stanford wanted to send a message login to another computer but the system crushed because the message was too big so he could understand L.

  • O.

  • It wasn't a big deal back then, but it was the beginning of a revolution that will soon change the world you see at the end of the day, what is the internet?

  • If you ever ask yourself this question?

  • It is not a technology that introduced something fundamentally new.

  • It just made communication faster and better take Uber for example, taxes were a thing way before the internet existed.

  • But the internet made communication between people who want to give a right for a financial reward and the people who want to write more effective, stopping every car in the road to ask them if they would give you a ride for a certain amount of money is dumb.

  • But when you're using Uber that's exactly what you're doing.

  • But much much faster now wait a second, much, much, much faster.

  • At some point in developing the internet will realize that why do we have to communicate the same message over and over where we can just store that information in one place and let everyone access it from there.

  • Take this video for example, it is stored in a data center.

  • When you want to watch this video, a signal is sent from the data center where this video is torched to a cell tower via an optical fiber network and from the cell tower, the signal reaches your phone through electromagnetic waves.

  • But if you access the internet from a wifi, then your router is literally connected to the global fiber network.

  • The optical fiber network connects the data centers with cell towers and routers.

  • This network is literally the backbone of the Internet.

  • Whenever you create a website, upload a video to Youtube or a picture to instagram your device sends that picture in the form of codes to data centers, then that that the center sends that message to other people who are connected to the internet.

  • That's how the internet works in short.

  • But before we got into all of this back in the 19 seventies, all the internet could do is send emails and it wasn't clear how sending an email could fundamentally change the entire world.

  • But as more people got involved and learn how the internet works, they started testing different ideas.

  • What if instead just sending an email, you could send an audio or maybe a video.

  • So beginning in the 19 nineties, thousands of companies emerged like Netscape, yahoo amazon Ebay.

  • Every company tried to take an existing business model and make it more effective since the whole purpose of the internet was to make communication faster.

  • Ebay connected sellers with buyers.

  • If you want to sell your old tv, you could let the world know that you want to sell your old tv without leaving your house.

  • If you wanted to buy a book, you no longer had to go to the bookstore because the bookstore could be on your computer as long as you have access to the internet.

  • The first email was sent by Ray thomason to himself in 1971 and it took us 21 years to be able to send video and audio via the Internet.

  • And even after 20 years of developing the Internet, we still did not have YouTube, Facebook paypal or Google.

  • It took us 36 years from the time we sent the first email to creating a device that put the Internet in our pockets.

  • But this revolution had its dark sides as well.

  • Back in the 1990s, people realized that they could easily steal people sensitive information such as credit card numbers, social security numbers or access their computers by pretending to be the bank, the I.

  • R.

  • S.

  • Or anyone with authority Scammers can empty victims.

  • Bank accounts take out tens of thousands of dollars in bank loans and their victims names and purchase expensive furniture or electronics under no repayments for 12 months schemes.

  • A lot of people handed their information because back then, most people had no idea how the internet works.

  • That was just one part of this camp.

  • As the internet became more mainstream, every business slashed dot com a den of its name, making their stock price shoot through the moon.

  • Does that remind you of something?

  • Even Mark Cuban sold a worthless company broadcast dot com for $5.7 billion which made him a billionaire but the company went bankrupt a few years later.

  • It kept happening until everything crushed in the two thousands and a lot of people lost faith in the internet, but people who understood the underlying technology behind it, understood how it could make the world a better place and that led to innovations such as Airbnb, Uber, google, amazon, youtube, iphone and so on.

  • And that's the perspective you have to use to understand Bitcoin.

  • Bitcoin could worth millions of dollars or maybe zero.

  • It's a mystery that only time will tell.

  • But judging Blockchain based on Bitcoin is like saying that the internet is yahoo back in the 19 nineties, the company that barely anyone knows today, we can already see how Blockchain is capable of changing the financial industry or the art industry through N.

  • F.

  • T.

  • S.

  • But that's just one tiny part because when you understand how this technology works you can see how you can apply to everything else.

  • The internet made communication faster and more efficient but Blockchain makes that information more trustable and reliable.

  • At first glance it doesn't seem helpful.

  • How does making information trustable could revolutionize the world.

  • And that's the question.

  • Early users of the internet asked how making communicating information faster could change the world.

  • To answer that question, we have to understand how Blockchain works and how it could be implemented in other industries.

  • Besides the financial industry, block chain stores information in chronological blocks.

  • And when you make changes to any information in these blocks, you don't change any of these blocks.

  • They change is stored in a new block.

  • A change to be at a specific date and specific time in a new block.

  • We have been using this technology for centuries but we've been storing that information first in books and now in computers.

  • When it comes to your credit card information, it is taught in the computers of your bank that manages your transactions when it comes to drugs that are stolen pharmacies.

  • That information is only start in that pharmacy and Blockchain is that technology that provides a single version of the truth to all authorized parties.

  • Blockchain builds trust in any data or information by decentralizing it and allowing everyone to interact directly with each other.

  • Without the intermediaries, it seems like the next natural step in the evolution of the internet.

  • Every property in the world could be stored in a Blockchain and there will not be any land disputes.

  • Again, you no longer have to pay fortunes to lawyers and go through costly, time consuming disputes over who owns this land.

  • There is literally a war going on in the courtrooms between companies for intellectual properties.

  • Every intellectual property could be recorded in Blockchain technology that can serve as an indestructible digital ledger marriages, divorces, supply chains.

  • It's entirely possible that the entire world is going to be run on the Blockchain, but only time will tell how the final version of this technology is going to look and Bitcoin.

  • Although it is the currency that popularized Blockchain, it might not necessarily be the future of this technology.

  • That is speculation, of course it could be or it might not be.

  • But when you look at its rivals suggest ethereum that's not just a currency but an entire platform upon which could be built a Blockchain for anything starting from smart contracts to ledgers to record intellectual property, you start to understand that Bitcoin is a tiny part of the Blockchain.

  • So when you think about crypto or Blockchain, think outside the scope of current popular cryptocurrencies to see the wider picture of where this technology is headed to.

  • If you have enjoyed this video, make sure to give it a thumbs up.

  • And if you're new around here, make sure to subscribe and turn on your notifications.

  • By the way, we have a second channel which will definitely enjoy if you're enjoying this channel, I would really appreciate if you guys head to the channel and subscribe.

  • I will forever be grateful.

  • Thanks for watching and I'll Ceo In the next one.

wow out of all the people.

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Why Bitcoin is Going To Go To Zero - The Untold Truth About Bitcoin

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    林宜悉 posted on 2021/07/01
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