In a little more than 10 years, Bitcoin has become a ubiquitous part of everyday life, and the community around Bitcoin (and other cryptocurrencies) has grown exponentially. People have gotten rich off Bitcoin, you’re told; put money in it, and you’ll get rich too. But it’s all a lie. Doug Henwood, author of Wall Street, explains.
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Citations are provided in the video. But we highly recommend, as an additional source, Nicholas Nassim Taleb’s “Bitcoin Black Paper”: https://www.fooledbyrandomness.com/BTC-QF.pdf.
0:00 The Financier’s Story
1:09 The World of Bitcoin
3:07 Is Bitcoin an “Investment”?
5:04 What Bitcoin Represents