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In today’s video I’m looking into all the hype surrounding Web3, blockchain technology, NFTs, and trying to work out WHY this is all happening. The Folding Ideas video ‘Line Goes Up’ came out as I was researching this, and I found that even though we had come to the same conclusion on many aspects of this, I actually came to a different conclusion as to why I think this is all happening – and it’s much more dystopian than most people think. This technology is dangerous and could ruin people’s lives in more ways than just losing out on their investments when the bubble deflates or pops. I have found that many people on the left don’t like this technology but they’re not quite sure why – so my video focusses more on how Bitcoin in particular has strong ties to far-right extremism which was birthed out of the Great Depression in the 1930s, and how the extremely libertarian & conservative Ethereum founder, Peter Thiel, wants to harvest data for the purposes of governing society with rigid code, and he’s getting Jordan Peterson to help.
12:17 Gary Vee’s NFTs
18:16 Celebrity NFTs
19:22 Play-to-earn NFTs
23:02 NFT marketing works exactly like MLMs
26:08 Influencers and Poocoins, Securities Fraud
41:22 Web2 vs Web3
43:43 Banking the Unbanked
47:12 Is it secure?
52:10 Sending money internationally?
54:39 bUt tHe FeD pRiNtS mOnEy
1:02:05 The Superbowl Crypto ads & the “Early days” argument
1:06:37 Bitcoin: The Gold Standard & Right-Wing Extremism
1:18:27 Ethereum: Peter Thiel wants your data to build a Libertarian utopia
1:33:29 Is this a bubble?
1:38:29 My Man’s a Hexagon