I produced a matter-of-fact documentary film that exposes blockchain (and all its derivative schemes from NFTs to DeFi) as a giant unadulterated scam, AMA
In response to the increased attention crypto and NFTs have had in the last few years, and how many lies have been spread about this so-called "disruptive technology" in my industry, I decided to self-produce a documentary that's based on years of debate in the crypto-critical and pro-crypto communities.
The end result is: Blockchain - Innovation or Illusion? <-- here is the full film
While there are plenty of resources out there (if you look hard enough) that expose various aspects of the crypto industry, they're usually focused on particular companies or schemes.
I set out to tackle the central component of ALL crypto: blockchain - and try to explain it in such a way so that everybody understands how it works, and most importantly, why it's nothing more than one giant fraud -- especially from a tech standpoint.
Feel free to ask any questions. As a crypto-critic and software engineer of 40+ years, I have a lot to say about the tech and how it's being abused to take advantage of people.
Proof can be seen that my userID is tied to the name of the producer, the YouTube channel, and the end credits. See: https://blockchainII.com
EDIT: I really want to try and answer everybody's comments as best I can - thanks for your patience.
Update - There's one common argument that keeps popping up over and over: Is it appropriate to call a technology a "scam?" Isn't technology inert and amoral? This seems more like a philosophical argument than a practical one, but let me address it by quoting an exchange I had buried deep in this thread:
The cryptocurrency technology isn't fraudlent in the sense that the Titan submersible wasn't fraudulent
Sure, titanium and carbon fiber are not inherently fraudulent.
The Titan submersible itself was fraudulent.
It was incapable of living up to what it was created to do.
Likewise, databases and cryptography are not fraudulent.
But blockchain, the creation of a database that claims to better verify authenticity and be "money without masters" does not live up to its claims, and is fraudulent.
^ Kind of sums up my feelings on this. We can argue philosophically and I see both sides. The technology behind crypto doesn't exploit or scam people by itself. It's in combination with how it's used and deployed, but like with Theranos, the development of the tech was an essential part of the scam. I suspect critics are focusing on these nuances to distract from the myriad of other serious problems they can't defend against.
I will continue to try and respond to any peoples' questions. If you'd like to support me and my efforts, you could subscribe to my channel. We are putting out a regular podcast regarding tech and financial issues as well. Thanks for your support and consideration!