Bitcoin: Boon Or BS? - Jill Schlesinger


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Chills less injurious with us from jail on money Saturdays at four here on WB and Jill we're doing a fast study. And bit at this point because it's gone mainstream so you must have. A great grasp on is why what is it why is it important first of all I love that you're talking about this summit spot. If you wanna go check out I just drop a podcast yesterday Mac podcast is called better off and I interviewed the whole the whole podcast devote it. Two bit point now it's weird and so. I want to take. Don't call it digital currency just because that is like a I could actually create some light people can't buy cocaine on line. That's what I think it. Forgetting that everything else and the technology behind buying and selling that token is essentially that their computers at all hook up to each other. And those computers mere five who owns one week how many of these tokens. To wit the entire crypto mania is back. And the reality is that went to the thing is to either like to wait one is that technology it acts this. And then there's this crazy mania around that token itself. So the technology is a real it's called blocked chain. It's be adopted right now in trying to a lot of become they turn speaker had to use it to like let the huge computer networks sync up with each other keep track of stuff. And that would get rid of middlemen in theories industries not reading or maybe logistics. Is that hokey at media. You're only going to be 21 million. The point released and the limitation. Of that. The total amount available has created a frenzy around. Trying to buy and hold this currency or this these two buckets and and that kind of what it is and to be on a city it's crazy it's volatile it's. Sort of happily regulated but really and it's a very dangerous for ordinary individuals to do it unless you're just pine lake with the house's. And Jill I think for most people the whole block chain part of it that's where you start to lose people but. Two people really need to know what's behind the currency can they just focus on you know measure said the token itself. At this app. Really you know how your email as turning your computer that way. When elf right I know I'd ever seen magic right so there's sort of magical part of it just happens if you can so that there is going to be. There is this technology. Behind these keeping track of tokens around the globe. That. If you sort of said diving down and seeing what is that what they blocked just imagine that some entity is is really cool technology. And it allows you to transfer money. Instantaneous. Within an hour anywhere to anyone any place. And to really the power of it. You know it's like to act from Yahoo! finance yesterday and the way kind of looked at it you know. It has different applications let's say that. For example your year here on WB it you're listening you're great and you want to go on to the website and you click through 1 am by an article deep diet articles about it. Now out and connect yet to go out like keeping your PayPal account credit card. But if you simply click the buttons here's ten cents for that article take an instance of might tokens. That would be really easy so that. Miracle of technology that's behind this is essentially a for countless transaction. Click transaction and that's why people are going audio technology. Again that beat point highs and lows the ether highs lows. I mean it's fun to watch but it's not that you actually want to start reading accurately she can't get on latest tipper. Are you know I haven't I have a good understanding now now I've got to ask you this. The Amazon HQ two finalists came out yesterday buffalo was not on the list and I should remember not too long ago talking to you about this. He said he didn't think we'd make it and you said. Boston and Austin. You put your money and they're both finalists. I got a 220 chance. Yeah I mean. I think it you know you think about I think Austin I thought Austin is gonna be a higher chance a lot of people are animated no wait it. That it's going to be Austin. You know the the that looks to me like at this point you know this is going to be about money right what a tax incentives and what can you do to sweeten might deal. And that and the ams that are going to drill down and start to really take a hard look. At the cost of living in a lot of these place is as big criticisms that app at Amazon's expand to Seattle. Is that those 40000 employees have written op. The cost of living in Seattle and I think that there are some places that are or be expected it yes you want to be in New York fantastic but. It's going to be expensive to have eight middle tier worker live in New York have a good life verses say living in a place like. You know balance so I wonder and again gals is that middles I don't know. Maybe it's Atlanta will say it's going to be it's gonna be interesting process of course it's sort of nauseating this kind of company that has gazillion dollars at any taxpayer sent that your aunt offered at all. Our chill thanks so much you and what you need to know about it caught us a little bit on Amazon it's jewels let's injure. Of Jill on money and hey chicken that podcast you.