Crypto In The Long History Of Private Money

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Название	:	Crypto In The Long History Of Private Money
Продолжительность	:	20.46
Дата публикации	:
Просмотров	:	238 rb

Ich schätze das Engagement in jedem von Ihnen geposteten Video sehr Trotz des Einbruchs ist der Kryptomarkt seit Monaten ungünstig und ich verliere immer wieder mein Geld, indem ich es während Einbrüchen verkaufe
Comment from : Julius Scholz

The crypto market has been unfavorable for months and I keep losing my money selling-off during dips, I'm very scared of holding right know-how do you guys still make so much…?
Comment from : Bernd Rückert

Are V-bucks and other video game currencies considered private currency?
Comment from : Dexter Jettster

So an Ithaca hour was worth ten bucks huhthat's barely less than I make now Many hours later
Comment from : David Ryan

I like how you didn't use a click bait title for this video I really appreciate your focus on meaningful content
Comment from : A Google User

Joined
Comment from : Deva Sharma

I used to believe in crypto currency Now I'm convinced that they fundamentally incentivize away from use as currency, and toward use in bigger fool schemes
Comment from : atimholt

Thanks! This was amazing!
Comment from : Łukasz Grzesik

Bitcoin Slow? Expensive? Compared to what? International bank transfers take around a week & cost and arm and a leg
Comment from : ucfj

Bitcoin is both an ideological project and a ponzi scheme At some point the wheels will completely come off
Comment from : Jon Talbot

sometime in 2014 i was really into this online game that had a shop, I always hated the idea of buying things in games, but this shop took Subway Restaurant gift cards, i couldn't resist lmao I should be able to take my mcdonalds gift cards to wendys, why not it's money
Comment from : Thesaurus Rext

Money supply increases should fund the federal government instead of taxes The banks would only be able to loan out 90 of what they had, instead of creating 10x and loaning it out, which is also a 10 reserve requirement Charles Coughlin supported this idea in the 1930s
Comment from : Adam D

If there is need there will be a fix The advent of internet transactions will bring actions from young software experts to sell a solution Will the solution be an honnest one or not in an uncontrolled environment ?
Comment from : Jean Larose

I never would have guessed that bitcoiners coordinating withdrawals to be sure the exchanges aren't issuing unpacked coins, was anticipated by Adam Smith of all people
Comment from : FadkinsDiet

Man you present things in such a manner of fact way, very easy for my stupid brain to follow what you're talking about, thank you
Comment from : EXbob

Late fun fact: In Quebec, during the 19th century, the Moslon clan had a bank with their official "Molson" currency Molson the brewery had their own private money from selling their booze to QuebecersbrThere's even logos of barrels and the brewery on the bills and pennies
Comment from : The_Bear_Dude

States and banks themselves had currency in the 19th century
Comment from : Rocks and Oil

A nice history lesson, but you failed at BTC vs Crypto You have no clue, or none was evident in the video There is Bitcoin a neutral immutable protocol vs Scam-coins Thats all
Comment from : Winst0nOBoogie

usually bitcoin transaction fee is between 1 and 5 $
Comment from : CallMeJoker 01

those private money are IOU's for the governments money, not there own units So this is different On top of that theese were bank credit backed by loans that create demand for the money Finally we have bank credt today too it's just not in the form of bank notes, instead it's in the form of deposits cash app wallets ect :p
Comment from : ΙΩΑΝΝΗΣ-ΠΑΥΛΟΣ ΚΩΝΣΤΑΝΤΑΚΑΤΟΣ

Always excellent information
Comment from : WJKK

Love that my DCA into bitcoin and the stocks market cost me nothing, rather it did put me on the road to riches Sh!t's paying higher than a paycheck
Comment from : Otis Wilburn

Make your own money, go to prison Liberty coin
Comment from : Lens Logic

What do you think about Adani related to Hindenberg allegations? Thanks
Comment from : NY

I think similar to early private money , Bitcoin and crypto is originally a response to the decaying trust in the big system, but just as before, part of it was made used of by scammers who saw opportunities brThe new thing with crypto is decentralization, the system has no head, more like a hive mind But as it was born out of distrust in the official system, it will probably just grow on the chaos of the official systembrbrThis doubt is just increasing, with the world leaders seems to be even dragging us into even more chaosbrBut as Patrick said, money has as much value as the system behind it
Comment from : ahmed galal

Big fan of your channel I do have a question Can coupon (like sodexo coupons) or credit points issued by airlines (such as miles) be considered as modern version of private money? Can crypto have a such use as coupons?
Comment from : Sunandan Sharma

I don't use cash often but I believe it is extremely important to a working economy I am not against private currency either, I think it is a balance against federal money but not a permanent solution
Comment from : Hopelessdecoy

Another form of private money are things like Amazon and other retail vouchers and gift cards
Comment from : stevo728822

I'm just really hoping to hear this guy tell everyone that Crypto is like an MLM You only really profit if you get in early
Comment from : Joss

I've lived in Ithaca for over a decade Why am I learning about Ithaca Hours this way??
Comment from : Zach Hayes

36:04 why pass laws to force unliked people to move to a place if your desperate to get the commoners to move Like i would be tempted to move to this shinny new area but if there is a new law that treats it like prison island i will say no way and stop packing my suitcase
Comment from : matt carnes

Fascinating topic Thanks 👍
Comment from : muffinman1

I find it humorous that the top comment thread below this video (aside from the pinned comment) is a conversation taking place between a whole troop of crypto scam-bots
Comment from : Joe Schmoe

@4:53, the physiognomy of brokers
Comment from : OMA Industry

Thanks!
Comment from : slothc

Could store gift cards be considered to be private currency?
Comment from : James Odell

The so called "cryptocurrencies" don't rely on cryptography to safeguard transactions and control the creation of additional of currency They use hashing Cryptography is meant to hide a message so that means you can encrypt a message and decrypt it Hashing is not meant to hide anything The string of characters generated probably can't be reversed to the original text that was used The point is to find out if any ledgers (blockchains) were modified, because a small modification in the text that was hashed will result in a different string of characters than the one in the ledger/blockchain and will show if someone tried to interfere with the currency The term token describes Bitcoin better
Comment from : zaco 2121

Do you have any documents on how much would people get on their scrip? Would it be something like 80 of its "value" or more like 20? This practice still exists among factory owners in Bulgaria, I estimate the scrip is worth not more than 30-40c per dollar
Comment from : Chess with Ivan

It’s true, the concept of using a scarce, durable asset isn’t new Before governments around the world went off the gold standard, humanity used the hardest money they had available to them at any given time Fiat is a blip on history’s radar
Comment from : Kai Sosceles

How much is that in duckets?
Comment from : Michael B

Hi Patrick, I really take a great deal from your videos, thanks I also have to say that you are definitely one of the better dressed Youtubers I would like to know which tailor you use Please let me know, if possible Cheers pal
Comment from : Chops and Archie

The problem with paper money is that it is just too tempting to not print just a few extra extra notes hoping no one will notice
Comment from : Jim Jackson

9:55 is that the reason why stores cant give you cash when you use a gift card?
Comment from : Street Peter

Moral: Money is and always has been credit
Comment from : Charles Panigeo

It's like Chuck E Cheese tokens
Comment from : Quatre Raberba Winner

I’m personally very curious about Lincoln’s green backs currency
Comment from : David Putt

Come on Patrick, American corporate scrip was not created to meet a need government money was not fulfilling! I'm ashamed of you for ignoring the blatant injustice of corporate scrip payments and corporate stores in American economic history Hey, I'm not communist I know plenty about Russia from 1917 to 1922 and beyond and before but, are you really that much of a cheerleader of capitalism to blatantly glaringly ignore these unjust truths of an operational system brbrI think and hope not, and would urge you to address the inequities of certain localized economic relationship systemsbrbrThanks for all your efforts and work I appreciate what you do Patrick
Comment from : eli pepper68

Crypto us very useful for drug lords et al to transfer large amounts of money quickly
Comment from : nosuchthing8

Thank you for making this stuff You always say its boring but its fascinating to me to see how history repeats itself in new forms I wish we learned more of this in finance school Maybe there was a class called history of finance but I didn't take it
Comment from : Nikolaos

Brilliant Patrick! its good to see someone of obvious good financial intelligence explain to mainstream
Comment from : Charlie Surace

incredibly fascinating talk, ❤ you are a brilliant narrator Sir, love this channel ,
Comment from : Orca

You can do better than this Patrick You may want to have another look at Bitcoin and the lightning network You can now send billions of dollar for a dollar or so, instantlybrPS love your work
Comment from : romper stomper

Wow, I had absolutely no idea Patrick Boyle is a visiting professor at my alma mater!
Comment from : The Promethean Prole

Ah, the good old days of getting payed in company scrip and only being able to spend it at the company store, who could charge whatever they want because they had a captive market
Comment from : Fancypants McVomitshirt

Nothing new under the sun
Comment from : Jon Pierson

I think that this video would have benefited from a mention of split willow wood tally sticks Although trading using tally sticks as a representation of wealth had many of the same drawbacks as barter, they had the benefit of being producible and destroyable directly in proportion to value from goods and services entering and leaving the economy It fits with the crypto narrative because the split wood grain supplied physical cryptographic verification between parties
Comment from : Joe Walp

do a video on the lightning network be fair :)
Comment from : Electric Master

As we can see here, private money is not new There is a reason for all these regulations in our monetary systembr Not qll of these regulations are bad
Comment from : Dennis Wedin

You are awesome ^__^
Comment from : Harmen Greven

I DO APPRECIATE YOUR CHANNEL SINCE MOST OF THE INFORMATION IS QUITE RELIABLE BUT… IN REGARDS OF BITCOIN TRANSACTION COSTS, YOUR DEFINITELY OFF MY FRIEND, SINCE 2 OR 3 YEARS AGO, A BITCOIN TRANSACTION OF SEVERAL THOUSAND DOLLARS COSTS CENTS AND IF LOWER WELL MUCH LOWER
Comment from : THE ACCOUNTANT THE BITCOIN CORPORATION

Crypto is like beanie babies They are worth whatever someone is willing to pay for them That can fluctuate wildly and is extremely risky When Bitcoin was selling for $60,000, cryptophyles claimed it was going to $300,000 and was a good hedge against inflation Currently it is fluctuating around $16,000 75 of your investment getting flushed in less than a year doesn’t seem like much of a hedge Your odds are better if you just put it all on red
Comment from : BFG

Patrick Boyle - The Jordan B Peterson of finance, money and values Any government would be enhanced to have you as a treasurer or Minister of Finance
Comment from : Mr Demokrative

Objectively, this is wrong Crypto is a token for decentralized computing and storage They are currencies for computing
Comment from : Payton J

You're a precious guy
Comment from : Ross Friedman

There's a series of plays collectively known as "The Wingfield Cycle" about Walt Wingfield, a stockbroker who gives up the exchange for a farm In the third play, "Wingfield's Folly", Walt convinces his neighbours to adopt a new currency, the Walt He gets an education in practical economics
Comment from : Michael Manning

During the 17th century, Massachusetts minted schilling and smaller coins, in violation of their charter, with a weight that was 3/4 of the British Schillings weight This made it undesirable outside of New England and thus served the purpose of small change for everyday purchases within the Massachusetts Bay Colony It allowed New England to prosper in the triangle trade between the West Indies, Europe and America With Spanish Pieces of Eight and British Schillings used in international trade, the local specie was used to allow New England settlers to pay for local goods While there were sometimes liquidity problems, it energized the local economy and allowed them to produce goods for international trade While not paper money, it did serve the same purpose as the private money discussed in this video
Comment from : TKO_23

Well, now I know what I'd like to start collecting
Comment from : Tim O Callaghan

I love how many auxiliary info bits these vids cover
Comment from : Cyphlix

Hi Patrick I suggest you learn more about the lightning network Hopefully it's the solution for expensive transactions
Comment from : Lost Physicist

Crypto I'm sure is useful but it currently has the economics of a ponzi scheme
Comment from : Ainsley Harriott

Crypto solves a lot of other issues Several countries don't allow an individual to purchase foreign currency or impose low limits and higher taxes Most of the time bank transfers to another country take days to complete Bitcoin and other cryptos are by far the easiest, faster and cheaper alternativebrbrThere are creditcards in those countries, but many are not international cards and have very low limits For the international ones, the costs are usually even higher In Brazil for example, we pay a 7 tax due to currency conversion plus the bank margin that is usually 15 There is the problem of receiving payments as well, since ordinary people can't charge creditcards directly A broker such as paypal has exactly the same issues as the creditcardbrbrMoving large amounts of money to another country is also complicated Cryipo is convenient because it's like having paper money with you, without having to show it and give explanations when crossing bordersbrbrOther cryptos like Monero solves privacy issues as well, and adds the fungibility that fiat money lacks
Comment from : Enrico Dias

Wow that local currency is like tokens or prize tickets at arcade Completely useless and inviting ridicule to use outside of that venue
Comment from : Nunya Business

Most airline frequent flying miles are basically private currencies
Comment from : Thomas Chen

Amazing "edutainment" value Inching closer to patreon Love, love, love that distinguished suit But love, love, love, love, the content of this particular production I really admire you professor Boyle keep these high-quality videos coming please
Comment from : D C

LETS is a far better scheme , local exchange trading system I ran one for a bit though people couldn't get there head around that debt didn't matter , its just a figure people can use before they decide with you It was fantastic for enabling poor skilled people to add value to their lives It failed in the end as i had no `electronic `trading system but it relied on people posting me their transactions ( and me using an old amiga to correlate and post out people needs wants and offers with their current balance good old 240d ribbon printer !)and that eventually led to its demise
Comment from : peter lewis

Crypto currency is a scam It has nothing backing it It depends on future buyers purchasing it from earlier buyers to keep up its value At least stocks are backed by the value of the particular company and its future prospects It’s sad that so many people have been scammed My rule is that if I don’t understand something I don’t invest what I am not willing to loose and I mostly am not willing to loose my money
Comment from : Nato Flores

This channel is so great, so instructive with so much fun
Comment from : TrucksAndDirt

This is most excellent You're an artist, Patrick Just -- well-crafted
Comment from : RW :Peterson

Script and the "company town" were often predatory practices by the company The company paid you in script that was only valuable at their stores, and payable as rent at their houses Losing your job could mean immediate eviction and banning from company stores The company controlled law enforcement too Captive workforce, captive market, private law enforcement A capitalist wet dream
Comment from : Zaprozhan

Aren't most official currencies already digital? just a bunch of bytes into the official banking networks rather than printed bills
Comment from : luis enrique vargas azcona

Your forgot to consider that around 2010, bitcoins transaction fees were far cheaper and the 10 min processing delay is nothing when compared to the days it often took to send money abroad at the time
Comment from : Gabriela Queiroz