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An Honest Conversation On The Problem With NFTs & Cryptocurrency, with @Folding Ideas financial diet

by onliNEmmOAZ



In this episode, Chelsea speaks with Dan Olson from @Folding Ideas to discuss his recent explainer video on the danger of crypto and NFTs. Don’t forget to subscribe and leave us a review! *Subscribe to The Financial Confessions podcast here: *Rate + review us on Apple Podcasts: *For our favorite moments from The Financial Confessions podcast, subscribe to our highlights channel here: _ZamFOWCF2rg Folding Ideas on YouTube: NFTs video: WHERE TO FIND US: The Financial Diet site: Facebook: Twitter: Instagram: .

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An Honest Conversation On The Problem With NFTs & Cryptocurrency, with @Folding Ideas

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An Honest Conversation On The Problem With NFTs & Cryptocurrency, with @Folding Ideas
financial diet
आप हमारी वेबसाइट पर केवल ऑनलाइन पैसे कमाने के तरीकों के बारे में सबसे पूर्ण और विस्तृत जानकारी देख सकते हैं: यहाँ और देखें
आप हमारी वेबसाइट पर केवल ऑनलाइन पैसे कमाने के तरीकों के बारे में सबसे पूर्ण और विस्तृत जानकारी देख सकते हैं: यहाँ और देखें

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27 comments

Sophia Emma 13/02/2022 - 3:02 Chiều

Investing in today is priceless because tomorrow isn't promised, trading bitcoin, gold, silver or any other crypto secure a better tomorrow.

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Ready, or Else 13/02/2022 - 3:02 Chiều

honestly doesn't sound like the host understood Folding Ideas' video

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Ilovelamp 13/02/2022 - 3:02 Chiều

What!! The crossover I needed

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MrCOLBSTAH 13/02/2022 - 3:02 Chiều

What about the fact also that you're not even owning anything? You're just owning a receipt to pretend that something has value when a lot of the times art gets stolen or not even purchased. It's not even the art that you're buying. You're just buying the rights to brag about… Standing in line to own something. I don't even get it..

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Mr Uncle The Redge 13/02/2022 - 3:02 Chiều

It's another way to launder cash….
Just ask Hunter Brandon…

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Nemesiss120 13/02/2022 - 3:02 Chiều

I love Dan's willingness to speak earnestly.

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Doctor Adventure 13/02/2022 - 3:02 Chiều

I really wish we could see the like to dislike ratio on The Problem with NFTs because I think it’d be interesting to see just how different the divide is between crypto people and regular people

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Misanthropic Musings 13/02/2022 - 3:02 Chiều

Dan's video is the best takedown of not just NFTs, but their evil cousin, crypto, I have seen yet on YouTube. I'm actually surprised there isn't more skepticism around crypto.

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Misanthropic Musings 13/02/2022 - 3:02 Chiều

Has anyone seen Cracked's comedic takedown of crypto currency? Brilliant.

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Misanthropic Musings 13/02/2022 - 3:02 Chiều

NFTs are bad, but obviously so, however crypto is equally bad, but since it's not as obviously bad, more people are taken in.

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Mriya6 13/02/2022 - 3:02 Chiều

Great job, good interview, thank you!

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Amanda Rivera 13/02/2022 - 3:02 Chiều

To everyone in the comments who agrees with Dan Olson, please do your own research on cryptocurrencies and the gold standard. Don't just take this man's SUBJECTIVE OPINION as fact. DYOR!!! Also, cryptos are not MLMs. If Dan's gonna make a blanket statement like that he might as well call stocks + other equities MLMs too. As for the volatility of cryptos, that's why stablecoins exists! You can earn yield on your stablecoins without ever having to invest in the market. Let me ask you this. Would you rather have US dollars just sitting in a bank account losing purchasing power every year (thanks to neverending inflation) or would you rather invest some of that money into a decentralized digital asset that has a big chance of preserving your money? Keep in the back of your mind that Dan is not an economist or a financial professional and doesn't seem to have a background in monetary policies or theories. He's literally a guy on the internet who's good at creating content that gets people socially engaged. This isn't a bad thing, but if you want the hard truth on cryptos…this guy ain't it.

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GoonerBear 13/02/2022 - 3:02 Chiều

I'd figured it was gonna be more like a stock from 2015 when it became a hot-button talk topic for a bit. Except at least stocks can pay dividends if you hang onto them long-term.

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Connor Hennessey 13/02/2022 - 3:02 Chiều

Its been 5 days YouTube… how are you just recommending this to me 😛

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Rose Mary Sandoval Lomazzo 13/02/2022 - 3:02 Chiều

I was just wondering… what is your opinion on the future of cryptocurrency now that it is being used as national currency in countries like El Salvador?

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Zachary Dow 13/02/2022 - 3:02 Chiều

If you've held Bitcoin or Ethereum for 4 years, there is no point in time where you will have lost money.
Holding onto regular currency, you are guaranteed to lose value to inflation.

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Troy Walker The Progressive Precarian 13/02/2022 - 3:02 Chiều

The first step to any solution, will be killing the fox in charge of the henhouse. The second will be re-ordering our priorities as a society.
I can fix it.

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Swi sh 13/02/2022 - 3:02 Chiều

If you need a boring crypto use USDC or DAI or Dollar, if you want to store your worktime over years or decades use bitcoin.

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Hans Wurst 13/02/2022 - 3:02 Chiều

22:00 been thinking all this time about tulip mania in the netherlands.

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Hez 0 13/02/2022 - 3:02 Chiều

18:58 in and I can say that I haven't heard Mr. Olson state a singular, congruent opinion about why he thinks crypto is bad. Even the point about children, today, not being able to purchase crypto is senseless IMO. Crypto being deflationary doesn't mean somebody can't transact in it at the current store of value. I spent 2 weeks in Ghana and the easiest transaction I made the entire time was spending crypto (USDT) on my lodging. The ATMs constantly quoted different exchange rates, and I found out that my bank was charging me additional fees for pulling out my money, just because I was on a different continent. The broker for the lodging also kept continually charging me different exchange rates on US Dollar to GH Cedes with the spread being upward of $115 on a ~$1000 transaction. Transacting in crypto made that a non-factor and the banks irrelevant who had been charging me "foreign transaction fees" so that I could avoid up-charging the merchants on credit purchases. While I agree there are tons of issues with crypto and who's actually in control of stakes and keys – I do think that it is a far superior financial system that whatever the US and other westernized countries are doing at the moment

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Sanne 13/02/2022 - 3:02 Chiều

Dan cuts corners to get his points (or dare I say beliefs) across – skipping nuance in favor of ad hominem and other fallacies. It is a great video because it aptly speaks to the feelings and curiosity of people who cannot wrap their heads around the subject. Doesn't mean he is right though.

At it's basis blockchains are a software building block which can do some things really well and other things not well at all. People will use it to build and expand. The kicker is that blockchains don't work as intended without a native currency.

I am looking forward in getting into real life debates with people that saw Dan's video or interviews with him about that video. There is a lot of misinformation and a lack of perspective. I will say that most people in privileged Western countries (with a reasonable good banking system) use it primarily to get rich quick. The space is rife with scams but to dismiss the whole technology is quite illiterate. I agree that crypto is in a bubble (just like everything really).

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Michal Timko 13/02/2022 - 3:02 Chiều

Main problem I see is that most people see only usage of whole crypto ecosystem to buy coin/token as equivalent of digital gold, sit on it forever and hopes, it will go up.

Current usage of NFT as representation of digital art, that oou actually dont even own is obviously scam. NFT should be seen rather as receipt or paragon or steroids, so I can see usage for something like car registry, where you have system, where user will pay for token validation and on other side will be network of decentralized servers providing these operations. But still NFT is just receipt, not coin, that has value on its own.

And of course cryptocurrencies are still young, deregulated, dangerous and full of scamers (as every industry). Only difference is, that most people still have no idea, how it works and get easilly scammed.

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Bobby Siecker 13/02/2022 - 3:02 Chiều

I feel that having read Marx inocculated me against crypto and NFTs.

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kidathlete 13/02/2022 - 3:02 Chiều

My only exposure with Dan was seeing his popular video where he comes across as VERY informed on the topic. However, here it seems that he relies heavily on rhetoric to make his points and lacks that sharp analytical wit he showed in his video.
(I am aware that his video was definitely scripted, however if one were knowledgeable on the area they at least be able to give details on the subject matter – rather than simply stating that crypto is bad currency without going into detail [18:10]).

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NappyWayz 13/02/2022 - 3:02 Chiều

I would love to see why he said bitcoin is just bad. I see the need for it. Getting finances out of the FEDs hands would be great, therefore, I support bitcoin. However, there are a lot of scams out there.

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David Mirza Personal Training 13/02/2022 - 3:02 Chiều

Can we get Dan to sit down for a chat with Punk6529?

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Thomas Degroat 13/02/2022 - 3:02 Chiều

I hope this success brings more eyes to his Flat Earth documentary as well. That one is amazing at explaining what the Flat Earth community is and why they reject science:

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