Uploaded May 2022 | Updated September 2026, 2 weeks ago

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Web3 is positioning itself to wage war with the traditional banking system and not everyone is on board. This video will make the argument both for and against NFTs, Crypto, and Web3 and hopefully separate the mass hysteria of gimmicks and hype from the tangible utility that these technologies could bring us in the coming years.

Intro
Choose Your Side 0:00 - 2:06
BTC Origins 2:06 - 2:30
Currency Fallacy 2:30 - 2:52
Crypto Gold Rush 2:52 - 4:10
Crypto Exchanges Will Win 4:10 - 6:12
The Problem with NFTs 6:12 - 9:28
Security Risks 9:28 - 11:08
Tangible Value of Web3 11:08 - 14:08
Big Squeeze Case Study 14:08 - 16:10

#web3 #crypto #nft

--Terminology--

Solidity
Solidity is an object-oriented, high-level language for implementing smart contracts. Smart contracts are programs which govern the behaviour of accounts within the Ethereum state.

Web3
Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether.

Vitalik Buterin
Vitaly Dmitriyevich "Vitalik" Buterin is a Russian-born Canadian programmer and writer who is best known as one of the co-founders of Ethereum. Buterin became involved with cryptocurrency early in its inception, co-founding Bitcoin Magazine in 2011.

Wall Street Bets
r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its colorful and profane jargon, aggressive trading strategies, harassment and for playing a major role in the GameStop short squeeze that caused losses for some US firms and short sellers in a few days in early 2021

Coinbase
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency.

OpenSea
OpenSea is a game-changing decentralized marketplace for buying and selling NFTs.

IPFS
IPFS is a distributed system for storing and accessing files, websites, applications, and data.

Pinata
We believe in a web where you can trust data itself without needing to trust who is holding it. To make this future a reality, we are building the tools and infrastructure for all creators to easily create and manage content on IPFS.

NFT
A non-fungible token (NFT) is a financial security consisting of digital data stored in a blockchain, a form of distributed ledger. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs typically contain references to digital files such as photos, videos, and audio. Because NFTs are uniquely identifiable, they differ from cryptocurrencies, which are fungible. The market value of an NFT is associated with the digital file it references.

Ethereum
Ethereum is a global virtual machine powered by blockchain technology. It is most commonly known for its native cryptocurrency, ether, or ETH. Ethereum network participants use ETH to pay for work done on the blockchain.

Bitcoin
Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, and thus removing the need for third-party involvement in financial transactions. It is rewarded to blockchain miners for the work done to verify transactions and can be purchased on several exchanges.

Blockchain
A blockchain is a growing list of records, called blocks, that are securely linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leafs). The timestamp proves that the transaction data existed when the block was published to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.


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