What Is Cryptocurrency Exactly? | Morning Joe 1

What Is Cryptocurrency Exactly? | Morning Joe

 

The meme-inspired cryptocurrency Dogecoin fell as much as 29.5 percent, dropping to 49 cents at one point, as Elon Musk discussed it on Saturday Night Live. But what exactly is cryptocurrency? The New Yorker's Sheelah Kolhatkar explains.

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What Is Cryptocurrency Exactly? | Morning Joe

#Crypto #Dogecoin #Musk

60 comments

  1. It still did not explain what exactly it is. If I understand it correctly. How can something with no value or backing be traded unless it is a barter system? Even then a barter system has something of value

    1. The way I understand it is, you exchange real money for fake money in hopes that you gain profit. Seems to me like a ponzi scheme.

    2. There are HUNDREDS if not thousands of videos here on Youtube explaining in depth about all the alt coins, the brokers, everything you could possibly want to know. Joe and Mika only know how to get up early in the morning and babble for three hours.

  2. If everyone agrees that a certain thing has value, when there isn’t any intrinsic value…then those same people can as quickly remove that value if they so choose, leaving that thing worthless.

    1. Gold, Silver, Bronze. Diamonds, Rubys, emeralds. any Name brand anything. most of our economy! But hey I agree. its just weird when we pick and choose when to be rational. lol

    2. @obtsfan I have heard this but how exactly is that supposed to work? Also from what I have read some 85% of Bitcoin which is the most popular crypto is owned by 15% of the people which if true means that it is still highly concentrated ownership

    3. Yeah, but EVERYONE would have to do that. You and I agreeing that dollars are worthless doesn’t make them worthless!

    4. a scam is when someone sells u something useless and u buy it then you’re stuck with it because that guy has your money and disappears laughing.

    5. @Robin D Hood 100% agreed. Well stated. Obviously the Fed can screw things up, but we’re trusting them to read the signs properly. Simply because money is being printed isn’t the problem
      — in fact the printer running might be the exact appropriate thing based on the situation.

      People get so wrapped up about “omg printing money,” but can’t make any argument as to why that’s actually bad. A lot is riding on Chairman Powell, but I highly doubt the average YouTube user is actually the person who should be running the Fed.

  3. “A bird in the hand is worth 2 in the bush”; when I didn’t follow that rule I lost money and humiliated myself.

  4. Too good to be true? Where were they during the crypto winter of 2018? It’s all about where you timed your entry. If you bought Doge when it was under 1 cent, then you made a small fortune. If you bought at 69 cents, then you lost. You can’t control when news gets to you, but you can control the time of your participation.

    1. . I got in early, made some gain. Used my profit to buy other alt coins and made another 100 percent profit in 24hrs on shiba inu

    2. You only make money when you sell for more than you bought. I make this obvious point because I know of people that bought low, have potential profits but are still holding on thinking that the up is the only way from here.

    1. @Đeath Vader Wow, a new twist on the old stand-by, “So funny I forgot to laugh”. Well played sir! Your wit must be legendary in your own mind.

  5. B!tcoin is now at a ” tipping point ” to either become the preferred currency for international trde or face a ” speculative implosio, ” Daniel said . The global stock m@rkt has started to recover as soon as the m@rket opened yesterday. Although B!tcoin is considered a safe haven asset and a store of value , it often moves in tandem with the r!sk – on m@rket. The simultaneous recovery of the global stock markt and kryptocurrencies followed a minor correction in the krypto m@r:ket over the weekend . This a big chance for novice to st@rt on how 2 tr@de just like I started after the 2017 craash through the help of Daniel Wright have been able to dilate my partfol!o to 68BTC according to Daniel there are two things to do now which are buying the dip and trad!n for more, on how to dilate your krypto thruugh tr@d!ng go over to Daniel { Danielwrightfx} at the teq:ram..

    1. This reminds me of all the promoters knocking my door down to get me into the market during the 1987 stock market bubble. Wherever there are people who want to get rich quick there are bloodsuckers swimming around ready to separate them from their cash.

  6. The financial crisis they are talking about wasn’t because people got into real estate without knowing what they were doing but because the banks gave them loans when they couldn’t afford to pay it back. Is this some sort of attempt to rewrite history? Not to mention they got a huge bailout!

    1. People who didn’t know what they were doing getting involved was a symptom, not the root cause, as you say. But I feel like that’s what they were suggesting.

  7. lately its very hard to predict, seeing a coin has tanked and predicting there is a greater chance of it rising doesn’t always work out but this is a very good time to invest there is a very huge possibility that there might be a huge increase in the total value of crypto in a week or two, but It is quite unfortunate that the most popular word lately amongst crypto enthusiasts and is “hodl because crypto is too volatile for you to do that. to exploit the market you have to start tradn, My actual portfolio was multiplied by 5 In two months After getting in touch with William a personal coachWho of Crypto Tribesmen showed me how to navigate and exploit crypto to my advantage despite the volatility . William can be reached on Tҽʅҽqɾαɱ.@williamfx101 there is the realism of winning and losing but the losing does not hurt too bad because i recover quickly by making smarter decisions.

    1. thanks for sharing crypto trading is always made to look difficult by the media because they want the major holders to keep hodln so they can maintain value. trading is far more lucrative than hodling.

    2. I think maybe a year ago when many were worth a few cents and have increased significantly in the last 12 month. Definitely feels like a slot machine so “invest” what you are able to live without

  8. In other words – ‘shut up and pay your student loans by being wage slaves to the elite for your entire lives’.

    1. This interview wasn’t really profound at all. They should certainly try to communicate things at the right level for the audience, but this didn’t really help someone understand crypto any better than they already did.

  9. For the average person, I realize this kind of topic has to be simplified, but this was not entirely profound — on any level.

    The “giant Excel spreadsheet that we can all see” was a good analogy. In addition, the statements about Robinhood and how it became a phenomenon might have been something the audience was not fully aware of. But the response to the decent question about whether to think of crypto as gold or cash was a missed chance to provide education to viewers.

    Institutions are thinking of Bitcoin as gold, and it is best to approach it this way. Some protocols like Ripple and Stellar are trying to serve as a currency, especially when it comes to international transfers. Many others are trying to provide the macro functionality Excel offers, Ethereum and Algorand being just two examples.

    I do agree that this has become a situation where we have people trying to basically ride the tide and become rich, and it’s extremely unhealthy. The Doge phenomenon is ridiculous.

  10. Too good to be true? Man they really sound like grand parents talking about when smart phones had been out for 15 years.

  11. Great context.everyone needs more than there salary to be financially stable.the best thing to do with your money is to invest it rightly.because money left for saving always end up used with no returns.i started investing in Bitcion mid November 2020 with the help of a well-known professional Mr Ion Mitus manure and the profit entirely Business only

    1. Access to a good information is what the investors needs to progress financially and generally in life. Here is a good one and I’m greatful

    2. After a successful payout and compounding interest from generating Hyrule on my trade which took me 5 months to hit a million on my trading

    3. I lost about $4,000 to a scammer before I was linked to Mr Ion Mitus and believe me He helped me recover the $4,000 and made me an extra to $7,000 in the space of a week and 4days

    4. He is a great broker that can make good profits without complaints when it’s time for withdrawal

    5. When someone is straight forward and good at what he does, people will always speak for them.For me I would say give Mr Ion Mitus of financial education a try and you be happy you did

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