Reality Check: Is Crypto Backed by “Radical Transparency”?

Unless you have been hiding under a rock, you’ve been hearing about cryptocurrency. Bitcoin and dozens of other coins, as either being the future of currency or causing the biggest bubble ever.

One of the biggest criticisms of cryptocurrency is that it’s just made-up money, that it’s not backed by anything. But is that true?

This is a Reality Check you won’t get anywhere else.

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19 Comments

  • Jacques Pasquinel
    Reply

    We trust these claims that crypto is transparent and secure, but unless your an engineer you have no way of knowing.

  • Tophie
    Reply

    This was obviously an ad; but I’m wondering if it was disguised as a news piece to trick people, or if Ben had to fulfill an obligation to his sponsor and did so in as open and honest a manner as was allowed…

  • Kurt Boyd
    Reply

    If aliens raided earth, they will not want your crypto or fiat currencies. They will take metals that are universally rare and have unique valuable properties, like gold, silver, uranium, etc.
    No currency that is neither intrinsically valuable or backed by something intrinsically valuable has survived 100 years. Bitcoin will not be an exception.
    Precious metals have been money since recorded history.

  • Birdy
    Reply

    I think the block chain has real potential but crypto currency is based on trust in software and internet and there is no reference value for Bitcoin. It’s more like a stock and how more people buy it, it goes up! That sounds very much like a piramide game! How more people come in pushes the value up and the first buyers are smiling like Dagobert Duck! If one day their will be a value linked crypto i see a big future for it but until now it’s just numbers, piramide and believers. Link it to something with a more universal value and it will take of…

  • HE HATE ME
    Reply

    so basically blockchain is an artificial intelligence that is self replicating as it is being interacted with? WOW

  • cheezemonkeyeater
    Reply

    Honestly, how long has it been since the US dollar was backed up by anything other than the Government’s say so?  I believe it was Nixon who took us off backed currency and just floated it at what the market will accept when countries started demanding their gold back because they didn’t trust the US to be responsible with it.

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  • Gregory
    Reply

    Uhm Ben where is your explanation on what happened with you and pizzagate? I can’t trust you until you explain exactly what happened and why you are not talking about it again? No pedophilia in government talk anymore? Also why is your hair yellow? Mk ultra!??

  • 93Fmf19 !!!!!!!
    Reply

    But it’s ran off of computer based algorithms, can’t that be distorted to benefit the same individuals whom are already wealthy and powerful? Idk it’s raised my eyebrow

  • michalchik
    Reply

    He’s misusing the term radical transparency. The quantity of Bitcoin and how often it moves maybe transparent if you’ve got enough computing power. But radical transparency implies that everyone knows what everyone is doing and it has the advantages of keeping economics in the open. So everybody is accountable for the number and kinds of transactions they engaging. Whether it’s trying to Corner the market in a precious commodity, hire an assassin for a hit, selling drugs to kids, or buying off a politician. Cryptocurrencies actually make all those forms of transaction less accountable not more. Radical transparency would be a system where all credits were tracked, the people who exchange them would be public information as well as any Goods they exchanged for them.

  • cdffff
    Reply

    Don’t be fooled, this not marketing video on crypto or on Dash, these where all facts. Even do Dash sponsered his show, Dash has not said anything about Ben Swann making this video.

    IF you do want to learn more do about dash go to Dash.org

  • Pete
    Reply

    “Stiglitz actually went so far to say that Bitcoin should be outlawed and said it doesn’t serve any useful function.” – Forbes (in the vid). So, if it serves no function, then it should go away on its own, right? No need to ban something that is useless.

  • Spiritual Casino
    Reply

    I have​ a question, if anyone can answer it. First of all, I would love to join Dash, or any other crypto currency, but when I get to their sites, I don’t understand what I’m doing and therefore hesitate. My daughter opened a “wallet” for me on Paxful, that I don’t use because I don’t understand how to “deposit” any “money”. But my question is, how do you withdraw “money” if you need to make a large purchase, let’s say, like a mortgage payment? I’d appreciate anyone’s feedback on this who already makes transactions with any crypto currency. Love and Light. Blessings to everyone on this thread.

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