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Ben McKenzie

πŸ‘€ Speaker
2248 total appearances

Appearances Over Time

Podcast Appearances

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

And he was supposedly going to bail all these companies out.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

He was called the J.P.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

Morgan of crypto, which is a reference to like when J.P.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

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.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

Anyway, he was like the king of the world.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

And then you sat with him and you'll see it in the film.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

I just ask him basic questions like, what does it do?

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

What does it do that's good for the world?

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

And he says, remittances.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

And I just been to El Salvador.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

I'm like, bullshit.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

And then he goes, well, it's not working now, but in the future.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

And you go, and it doesn't function as a currency.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

And he's like, yeah, well, now it doesn't.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

It will in the future.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

One of the interesting things about Bitcoin is that it can't function as a currency because of the technology.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

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.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

So it just can't scale as a payments method.

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

Other blockchains are faster, but they're not limited in supply, right?

Armchair Expert with Dax Shepard
Ben McKenzie (on cryptocurrency)

Like Bitcoin is, the 21 million Bitcoin that have to be mined.