Ben McKenzie

It's an asset of what?

What are you owning exactly?

So you just need to understand that the technology sucks.

To give you a sense of how much it sucks, Bitcoin can only process five to seven transactions a second.

Visa can do 24,000.

So it cannot scale as a payments method.

You have to build all these layers on top of it, which sort of defeats the purpose of having it to begin with.

And so even Sam Bankman-Fried, when I interviewed him, I was like, Bitcoin can't work as global payments.

He was like, yeah, yeah, yeah, yeah.

And then he tried to pivot and sell me on this other coin that worked better, but he also owned a lot of, which is very, very funny.

So it can't work technologically.

And, you know, blockchain is really simple.

It's just a ledger, just a way of storing information.

The advantage that it has is it obscures the identity of whoever's interacting.

Exactly.

It's not anonymous, but it's synonymous.

So you can have all these different addresses in the form of wallets, and you can also run your crypto through these things called mixers, which sort of further obscure the identity, make it even harder to track.

Your colleague Andy Greenberg has done enormous, wonderful work talking about how law enforcement interacts with these things.

So theoretically, you could trace...

who is committing what crime, except you can't really, or it's very difficult to do because you don't know who is what, what is who, who is who is who, who is who on the ledger.