Ben McKenzie
π€ SpeakerAppearances Over Time
Podcast Appearances
And he was supposedly going to bail all these companies out.
He was called the J.P.
Morgan of crypto, which is a reference to like when J.P.
Morgan had to bail out all of these banks, get his rich friends to keep the economy from crashing prior to when we had a central bank.
Anyway, he was like the king of the world.
And then you sat with him and you'll see it in the film.
I just ask him basic questions like, what does it do?
What does it do that's good for the world?
And he says, remittances.
And I just been to El Salvador.
I'm like, bullshit.
And then he goes, well, it's not working now, but in the future.
And you go, and it doesn't function as a currency.
And he's like, yeah, well, now it doesn't.
It will in the future.
One of the interesting things about Bitcoin is that it can't function as a currency because of the technology.
So the technology, one reason why it doesn't work so well is it can only handle five to seven transactions a second, whereas Visa can do 24,000.
So it just can't scale as a payments method.
Other blockchains are faster, but they're not limited in supply, right?
Like Bitcoin is, the 21 million Bitcoin that have to be mined.