The Crypto Revolution
with Yaya Fanusie
The rise of cryptocurrency is one of the most startling, potentially disruptive, potentially revolutionary economic events of the last twenty-five years. But how does it actually work? In this clip, former CIA analyst and adjunct senior fellow at the Center for a New American Security Yaya Fanusie takes me through the basics.
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Why is there a problem with BOA tracking my spending and income versus a centralized system whose administrators are unknown controlling my assets? The double spending problem seems mythical.
Bitcoin has no problem accepting my credit card controlled by my bank to buy Bitcoin controlled by an unknown “decentralized” entity. If I want to invest in a stock I have accessible records. With Bitcoin it seems to be “Trust me Bro”.