На тоя чичко професор по икономика завършил Харвард и Yale съм му голям фен. Много ли бъркам, като му гледам лекциите? Намерих начин да извадя субтитрите. Особено към края е много яко.
https://www.youtube.com/watch?v=WKAP...youtu.be&t=885
The next bizarre event
14:47
of 2017 can be called the Bitcoin explosion what was that about well let's
14:57
talk first about the reasonable side of it as you all know money is something
15:04
that is basically produced by governments and also produced by banks
15:09
in the normal way that banks do business but the banks set up their money by
15:16
creating checking accounts and so on using the government-issued cash in this
15:23
country the dollar bill the $20 bill the hundred dollar bill and so on it has
15:29
always therefore been a fantasy of all kinds of people why can't we have other
15:34
kinds of money multiple sources of money and you know in the United States as in
15:40
most other countries we did that for a while the early years of the United
15:44
States as an independent country had money coming from all sides different
15:49
states had money sometimes different counties within States issued their own
15:54
currency if you were doing business and moving safe remain in the north to
15:59
Maryland or Virginia in the south you as a business person would traverse regions
16:04
with different money and you'd have to exchange the money from Maine for the
16:08
money from Massachusetts and then that money with the money from New Jersey and
16:12
that money with the money from Delaware and so on and then we unified all that
16:17
into one money and that always left the question G how would it be if we had
16:22
multiple sources of money again and you know how unkindly the law looks upon
16:28
people who take it into their own hands to do that by counterfeiting money for
16:33
example so it's always been a fantasy and there's an interesting question
16:37
about what would be the economic consequences of different people issuing
16:43
money if it wasn't only the government Bitcoin begins by saying here here's
16:49
another kind of money and let's see if we can get people to accept it in
16:54
exchange for work they do or goods that they sell will they take another
16:59
currency and an electronic currency Bitcoin as a substitute for dollar bills
17:05
or Euros and if they take them will they be able to spend them on other things so
17:11
that it works like money and that's an interesting question and that began to
17:15
be asked by these people who make crypto currencies alternative currencies or
17:20
what you call them and the biggest of them has been Bitcoin that's the
17:25
reasonable side now we come to the unreasonable side every commodity that
17:32
has ever existed every good that goes through a market
17:36
from buyer to seller and so on has become at one point or another an
17:41
object of speculation what do I mean it begins to be purchased not for whatever
17:47
use it originally had but for a very different purpose it is bought in order
17:53
to be resold at a higher price let me give you an example perhaps the most
17:58
famous example were tulips grown in Holland back in the early 18th century
18:04
now tulips had a purpose they were a flower they were grown by gardeners and
18:09
bee of their beauty they would be purchased
18:11
by people to beautify their gardens etc useful things but then somebody got the
18:20
idea whoa if I buy these tulips in the right way in the right color at the
18:26
right time and I wait I could sell them maybe for more money and then that
18:31
person did it and everybody noticed Wow he bought them for ten and sold them for
18:36
twenty maybe if I buy them for twenty I'll be able to sell them for thirty and
18:40
they did and that brought more people in and they convinced folks look don't buy
18:47
these tulips because they make your garden beautiful buy these tulips
18:51
because you're going to get rich quickly and you know how and why simply because
18:56
if you buy it it's going up and you'll be able to make money by selling at a
19:01
higher price and how will you be able to do that by convincing the person you
19:05
sell it at a higher price to that he or she can do the same and it's just an
19:10
upward and onward spiral that's what happened to Bitcoin it went from
19:15
something worth a few hundred US dollars to something on the order of 20,000 or
19:21
more by the end of 2017 and a lot of people made a lot of money buying and
19:27
reselling at a higher price that's a speculation it happened to
19:31
tulips it's happened to gold frequently it's happened to almost everything all
19:37
you need is to get enough people to believe that they can resell at a higher
19:42
price and then it gets going and it becomes a self-fulfilling prophecy you
19:47
suck in more and more people the more they observe how much money you could
19:52
make by simply buying something sitting on it for a matter of weeks or months
19:57
and selling it no work no production no value-added pure speculation
20:04
the Bitcoin phenomena is that and like every other speculation of its kind it
20:11
ends badly we look back on what happened to the tulips and refer to it as tulip
20:18
mania finally as the price went higher and higher
20:23
for tulips it got to a point where the risk was too high the amount of money
20:29
you would have to spend to buy tulips was so enormous that the risk that it
20:33
might not go up simply was too frightening and at that point nobody
20:39
stepped in to buy which meant the last people who had laid out money discovered
20:44
they weren't gonna make more so they quickly sold it for fear it would go
20:49
down and when it goes down the fear that it's going to go down further makes
20:55
everyone holding it dump it and the price goes down as fast or faster than
21:01
it went up everyone thinking of playing with bitcoins has to understand this is
21:09
just another crazy speculation which is one of the side effects that can be so
21:16
disastrous of the institution we call the market and has to be weighed when we
21:23
wonder whether they're not might not be better ways to distribute resources and
21:28
products that buying and selling them given the potential at any time for the
21:35
kinds of crazed speculation bitcoin has been seen to go through.
14:47
of 2017 can be called the Bitcoin explosion what was that about well let's
14:57
talk first about the reasonable side of it as you all know money is something
15:04
that is basically produced by governments and also produced by banks
15:09
in the normal way that banks do business but the banks set up their money by
15:16
creating checking accounts and so on using the government-issued cash in this
15:23
country the dollar bill the $20 bill the hundred dollar bill and so on it has
15:29
always therefore been a fantasy of all kinds of people why can't we have other
15:34
kinds of money multiple sources of money and you know in the United States as in
15:40
most other countries we did that for a while the early years of the United
15:44
States as an independent country had money coming from all sides different
15:49
states had money sometimes different counties within States issued their own
15:54
currency if you were doing business and moving safe remain in the north to
15:59
Maryland or Virginia in the south you as a business person would traverse regions
16:04
with different money and you'd have to exchange the money from Maine for the
16:08
money from Massachusetts and then that money with the money from New Jersey and
16:12
that money with the money from Delaware and so on and then we unified all that
16:17
into one money and that always left the question G how would it be if we had
16:22
multiple sources of money again and you know how unkindly the law looks upon
16:28
people who take it into their own hands to do that by counterfeiting money for
16:33
example so it's always been a fantasy and there's an interesting question
16:37
about what would be the economic consequences of different people issuing
16:43
money if it wasn't only the government Bitcoin begins by saying here here's
16:49
another kind of money and let's see if we can get people to accept it in
16:54
exchange for work they do or goods that they sell will they take another
16:59
currency and an electronic currency Bitcoin as a substitute for dollar bills
17:05
or Euros and if they take them will they be able to spend them on other things so
17:11
that it works like money and that's an interesting question and that began to
17:15
be asked by these people who make crypto currencies alternative currencies or
17:20
what you call them and the biggest of them has been Bitcoin that's the
17:25
reasonable side now we come to the unreasonable side every commodity that
17:32
has ever existed every good that goes through a market
17:36
from buyer to seller and so on has become at one point or another an
17:41
object of speculation what do I mean it begins to be purchased not for whatever
17:47
use it originally had but for a very different purpose it is bought in order
17:53
to be resold at a higher price let me give you an example perhaps the most
17:58
famous example were tulips grown in Holland back in the early 18th century
18:04
now tulips had a purpose they were a flower they were grown by gardeners and
18:09
bee of their beauty they would be purchased
18:11
by people to beautify their gardens etc useful things but then somebody got the
18:20
idea whoa if I buy these tulips in the right way in the right color at the
18:26
right time and I wait I could sell them maybe for more money and then that
18:31
person did it and everybody noticed Wow he bought them for ten and sold them for
18:36
twenty maybe if I buy them for twenty I'll be able to sell them for thirty and
18:40
they did and that brought more people in and they convinced folks look don't buy
18:47
these tulips because they make your garden beautiful buy these tulips
18:51
because you're going to get rich quickly and you know how and why simply because
18:56
if you buy it it's going up and you'll be able to make money by selling at a
19:01
higher price and how will you be able to do that by convincing the person you
19:05
sell it at a higher price to that he or she can do the same and it's just an
19:10
upward and onward spiral that's what happened to Bitcoin it went from
19:15
something worth a few hundred US dollars to something on the order of 20,000 or
19:21
more by the end of 2017 and a lot of people made a lot of money buying and
19:27
reselling at a higher price that's a speculation it happened to
19:31
tulips it's happened to gold frequently it's happened to almost everything all
19:37
you need is to get enough people to believe that they can resell at a higher
19:42
price and then it gets going and it becomes a self-fulfilling prophecy you
19:47
suck in more and more people the more they observe how much money you could
19:52
make by simply buying something sitting on it for a matter of weeks or months
19:57
and selling it no work no production no value-added pure speculation
20:04
the Bitcoin phenomena is that and like every other speculation of its kind it
20:11
ends badly we look back on what happened to the tulips and refer to it as tulip
20:18
mania finally as the price went higher and higher
20:23
for tulips it got to a point where the risk was too high the amount of money
20:29
you would have to spend to buy tulips was so enormous that the risk that it
20:33
might not go up simply was too frightening and at that point nobody
20:39
stepped in to buy which meant the last people who had laid out money discovered
20:44
they weren't gonna make more so they quickly sold it for fear it would go
20:49
down and when it goes down the fear that it's going to go down further makes
20:55
everyone holding it dump it and the price goes down as fast or faster than
21:01
it went up everyone thinking of playing with bitcoins has to understand this is
21:09
just another crazy speculation which is one of the side effects that can be so
21:16
disastrous of the institution we call the market and has to be weighed when we
21:23
wonder whether they're not might not be better ways to distribute resources and
21:28
products that buying and selling them given the potential at any time for the
21:35
kinds of crazed speculation bitcoin has been seen to go through.
Пич, ти си безподобен лъжец или зле платен трол 
Оня устатия щеше да си реже оная работа, щото безкрай ще растат, наслушах се на цени 100 000 до средата на Януари... Не, че не е възможно де. Има един лаф за шараните - сутрин ги окосиш - до вечерта поникнали нови.
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