Inside the Crypto-Kingdom: The Cryptocurrency Goldrush | Documentary | Crypto Currencies | Bitcoins

[Music] on 2009 generally for evening 6:15 on that day a big things happen the piquant transition brought out the five element on that date is Earth but that is a lot of water on that day what is the relationship with earth and water earth a shot what that means on that day loss of a master go into the game but from 2035 we are going into the period belong to wood wood grows from Earth the wood will destroyed the earth that means piquant aware you knew destroyed [Music] [Music] [Music] Bitcoin its 15,000 bitcoin is a $20,000 each now it's insane the bitcoin the hottest currency in the world in 12 months investors of driven value up fifteen hundred percent 2017 the year the price of a single Bitcoin hit a new all-time high valued at nearly twenty thousand US dollars per Bitcoin less than ten years since the cryptocurrency was unleashed right now today as we're filming this may 22nd is the anniversary of the first time anybody anywhere in the world used Bitcoin as money and somebody paid 10,000 bitcoins for some pizza right and so at the time 10,000 bitcoins was worth about 20 bucks or whatever was paid for the pizza today 10,000 bitcoins is worth somewhere in the ballpark of a hundred million US dollars so we should stop and think why did an asset in the last eight years go from being worth $20 to a hundred million dollars in just eight years and the reason is because it was useful and it was scarce and so as more and more people started to use his scarce thing called Bitcoin around the world the price went up and up and up and up [Music] early adopters bought Bitcoin for next to nothing and watch the value of the digital currency as well as their fortunes grow so different people like to for different reasons the Chinese people liked it because it was very volatile the fact that it will go up and go down a lot in prices so it served as a good sort of speculative tour sort of for investment for trading for gains for profits or losses and of course the more pragmatic people who are tech savvy liked it because for Bitcoin mining you can make money out of thin air literally you put a computer you plug into the wall and then you can make Bitcoin and make real money mining is the backbone of Bitcoin computer is plugged into the network compete to solve complex mathematical puzzles to verify every single Bitcoin transaction the reward for doing this is Bitcoin if you're trying to now run a system that is completely decentralized has no legal system involved in it you have to kind of like to create a system that that people will trust and will actually still want to use despite the fact that there's nobody coordinating it and you've got to incentivize people to keep that database running properly so what the Bitcoin designers came across was the idea that if you as a miner could successfully and accurately update the database you would be rewarded with the issuance of new tokens or you basically essentially write-in money for yourself but the system makes it very hard to get to that point we are allowed to record new tokens into existence in 2013 my wife and me we are living in Venezuela and we are working in importing from Hong Kong to Venezuela [Music] and as Wella fall down in economical creases and we lost a job one of my friend told me he is mining then I said to him okay you are mining let show me what you are doing and he invite me his home he told me in this moment one miner called x4 he said to me in this moment we are getting light $10 per day then I look in my wife in the age I'll say this is the business they only plot this to the electricity its own Internet and he get $10 per day we're gonna get rich the minimum wage in Venezuela is just over six US dollars a month and the average family can barely afford enough food to survive but electricity is cheap and vocano saw an opportunity in energy intensive Bitcoin mining then my wife and me traveled to Jensen this is a bigger market of Technology of the world by these farmers matching pole miners we buy in this moment three machines we packing this in the baggage and we smoke all these machines to Venezuela and dream like okay let's go to be billionaire how Bitcoin but in this moment were you looking for in Internet or due to about the who to install this nobody had the video nobody explained nothing me I'm I was trying to set up the machine and when we unplug the fields all is OK the machine is runing we unplug the second one is ok pal when we unplug the third one this do this pro scene huh and three thousand volt to the toilet this is gonna disaster in the city we live in it's like 38 degree then it's hard to control the heating they start to be like because they are so hot I remember the two or three months we are mining this is a total neighbor we can as lead I fight with my wife every time I say it's your fault you say no it is my fault to choose this business I say no but you support me and this is so funny I go total in the separation my voice a no no don't worry no worry with rose in this technology we put all hope in this technology and we waiting we're waiting and we 9:00 in like 12 13 months we recovered invest the inversion we are getting per daylight twenty-five dollars then we only take the calculator and say ok $25 per 360 they at the year so we're gonna get rich fast thanks to God intends to blockchain tends to because we are in the good time now we've done to have baby Bitcoin mining is designed to get more difficult with time as more people mine and use Bitcoin the amount of energy and computer power needed to verify transactions go up as well Bitcoin mining became unsustainable for people like Baccano and he shut down his operation in Venezuela instead industrial scale facilities known as mining farms popped up around the world over the years the Bitcoin algorithm has come more and more difficult to do and now you need nearly a supercomputer in order to just unlock a Bitcoin every 10 minutes so the way most people get involved today is by buying and selling on exchanges and over time these exchanges have become core pieces of the network because really unless you're going to invest in a in a supercomputer it's the only way for you or I or anyone really who wants to easily move in and out of cryptocurrencies so what is an exchange where an exchange is an online platform with a domain name or website [Music] so people would actually can go in and buy the amounts of Bitcoin you want and whatever price you said it at and if the price matches there's a trading engine that would do price matching if it matches then your trade would get executed much like a stock market order in June of 2011 China had its very very first online Bitcoin exchange called a BTC China when I decided to do a start-up in 2013 I said I want to do in Bitcoin so that's when I cold called and approached BTC China and I said hey how about we partner together I want to join them I want to invest in my own money and also want to do to be to be CEO of the venture and I've build it into a powerhouse as a Bitcoin exchange starting in China and become a global company launching a Bitcoin exchange in China bikal trading platform in China we had always known it was in the gray area what the question was whether years later we would get a license or whether it would become strictly illegal so early April become past that historic high and my brother and I were messaging each other oh my gosh she's gonna cross the historic high you know $26 is it where is gonna go the sky's the limit so that was a craze so that November and December of 2013 that was a real high craze but actually our trading volume actually exceeded energy at the time so we at that time became the world's largest Bitcoin trading platform the coin exchange so you're not you told me wait Pete could be the one most you probably two genitals in technology no chicopee Toby Toby Shoshanna finale right yunnan go so I'm gonna singe energy like when true children shall need a hobby millet are talking about it so the CCTV in the state-run television channels started doing programs about Bitcoin starting in May and in the summer it's a lot of press started international press which is there was just overall more more activity more more buzz about Bitcoin as the crypto currency as a currency for the internet and everybody want to get their hands on it and we're just swamped with all the new account opening people depositing withdrawing money and those were crazy days you just hired a lot of people and it was just just it was just a good mood everyone was happy to see people go up and time Peconic gone up about ten times from the price in the summertime so it's very exciting yes the bigger community changed a lot in 2011 most people were or technology people or libertarians okay there was the the two wars that were in the intermission in that time then in 2013 says you have 14 many financial people starting to get in the technology or see ok this is interesting from a financial point of view what you've seen over the past few thousand years is every few hundred years is a big change in how human beings in societies transact with each other and the medium of money that they use and during these pivotal changes extreme fortunes are made and lost actually my first day as a graduate was the Monday morning after Lehman Brothers had filed for bankruptcy it was I guess kind of a shock coming from as an intern in New York in 2006 and then Hong Kong in 2007 in the height of the bull market best years ever in terms of compensation for financial services professionals and then you know a year later you join into the biggest financial crisis since probably the Great Depression we all got into this game because we wanted to make a lot of money in a relatively short period of time and so as those expectations changed I think everyone in the industry was evaluating themselves and their careers and thinking what can I actually do now with a very narrow skill set I had heard about Bitcoin from reading an article on Zero Hedge in April when it had spiked up to $250 I went back and found the Satoshi Nakamoto white paper I read that was instantly interested in what Bitcoin was or and could be and started researching everything about it luckily browned October of 2013 the markets in China started going crazy the premium to my Bitcoin from a Chinese platform in Chinese yuan was between 20 to 40 percent I took all of my dollars I bought Bitcoin I sent my Bitcoin to a few platforms in China I sold it at a twenty to forty percent profit over what it was worth outside of China for Chinese yuan and then I took a bus to Shenzhen and I carried the legal limit of Chinese you want out of the country every day for a few days you can't actually take that much money out of China it's just 20 thousand yuan a day at some times I'd go with some friends we go for lunch and then come back with the cash I guess I decided that I wanted to do a real business in this industry and so the trading is great but making a living creating your own money is extremely difficult so I thought well what can I actually do to build a business where I don't need to make money calling the market correctly or putting on the correct rate I decided that I wanted to start my own platform for the crypto coin industry and that's where bit max came from so our goal as a company is to become the largest exchange in the world when traders moved into the crypto community they brought traditional finance tools with them adding to the infrastructure of the crypto Kingdom like original Bitcoin community didn't have like price graphs and you know like technical trading analysis all of that was lifted straight from the normal financial sector that's what they use in normal finance and then suddenly all that language just like infiltrated into the crypto community about like 2015 suddenly Iran was like you know putting Fibonacci charts and stuff like Candlestick patterns and there's this what the trade these traders do 2013's frenzy ended up being a bubble and the price of a single Bitcoin stabilized but the market cap which is the value of each Bitcoin multiplied by the number of bitcoins and circulation had exceeded a billion dollars a strong signal that bitcoin was on the verge of exploding into the mainstream from the get-go we understood that you know it's not about the price of a single Bitcoin but rather the whole circulation value but we knew it had a potential to be in the billions and after thinking about a more comparing it to gold years later I came to the conclusion that it's not gonna be in the billions but it's gonna be in the trillions meaning all the value of Bitcoin will be in the trillions bitcoin is based on open-source code meaning anyone can download it modify it and release their own cryptocurrency feathercoin is the next-generation digital global currency designed for the internet dogecoin is a revolutionary digital currency like coin is a peer-to-peer cryptocurrency that was created back in 2011 as a port to the Bitcoin core quite different cryptocurrencies emerged known as alternative coins or earth coins and short but the mother of all coins remains bitcoins [Music] that's also donkey miracle what I gotta say Kunie toka say for the other night oh I know castles look okay to detect oh ji-ho that is new clothes on price Hawkeye to drift oka nice you don't clean more than I took her oh sorry god an optimist I mean this may be the point that it will missing unity between the keymaster Hey osmium a Technicolor would his name be Toronto calcula they are no isn't cheating good I got its name it 100 he has me master they should understand it a lot the way police are all talking in you think not only Nene are you mister we got 15 grand Bitcoin and we are going to the moon yes it is an explosion of Bitcoin chain reaction just made billionaires overnight people are celebrating jaws are dropping in December 2017 it was a really interesting time because leading up to Christmas there was so much excitement around Bitcoin especially but crypto more widely as well I know family family and friends who over the Christmas table were investing in cryptocurrencies because they heard something was going on and it just drove the price higher and higher when the price of Bitcoin multiplied in 2017 so did the media attention and the demand for more Bitcoin money flooded in assuring in a new era for the crypto Kingdom it was the gold rush all over again a San Francisco merchant Brannan was a skilled craftsman of hype eventually the gold rush would make him the richest person in California but Sam Brannan never mined for gold when he started racing through the streets yelling gold gold in the American River he wasn't putting on digging for he was planning on selling shovels okay and the first person who sold shovels got a lot more gold than the person who had to dig for it [Music] [Music] these are mining mining casings or for Urich during this gold rush what happened was many people were always rushing for making the gpio mining systems and to make the money out of the mining this other casing the body but there were other group of people who started bringing these talks to sell to the mining people who are using it for mining so these are the new kinds of people who wanted to supply and make money dude because of this gold rush these are the mining relics these are the mining power supplies basic items went up to like 40 to 50% and on graphic art even it went up to 60 to 70% which was a big jump that season was between October to December and no one were it was at peak November and in December first trip so without asking any question they just said okay let for me three systems make for me two systems so they were the first ones to start the gold rush don't like the systems everybody was launched or busy from morning to evening fine one team was finding the stock one afternoon we are checking the configuration third we're checking whether we can deliver it on time kept us occupied from June to January the stress was on like supply of stocks and fulfilment because many customers want to do advance booking they even paid us deposit of $100,000 to book in advance the business has grown more than 1.2 to 1.5 million turnover during this six months of business [Music] the number of crypto converts exploded from miners in Asia to inspired artists in Europe [Music] a physical crypto infrastructure also took shape pioneers invested their early profits to make the crypto space more user-friendly really honk Kong one chai in a Hong Kong Island and yeah you can see this is a very old building but actually yeah we have some we have a big con trading centre yeah so this is the main entrance of the trading center right here on the wall we have the white paper and this is the fundamental for the approaching and also Bitcoin we just put it on the wall because that we just want people to know that they are already inside a crypto world yeah and then we have three 24-hours ATM crypto ATM we are selling three different kinds of coins here the first one is here the second one is pecan and a third one is become cash but these machines people can come here anytime and use Hong Kong dollar to buy material pecan or Bitcoin cash it's just traditional currency to digital currency instantly we also have a two-way ATM machine you can buy the cryptocurrency here or you can set a cryptocurrency to us and take cash for this window yeah so we put our QR code here so yeah it has detect our wallet here already this is the what address so we can start to put the money inside alright and here's the receipts that you have already bought 500 Hong Kong dollar worth of Bitcoin [Music] in Korea there's a huge premium for the cryptos 2017 December and also January 2018 people realized that if they fly to Hong Kong with cash and buy in Hong Kong and they can send the coins instantly back home they can make a huge profit on this in Korea there's a 40 percent premium comparing to international price so if they're carrying 80 thousand Hong Kong dollars he is Hong Kong they can make at least 15,000 to 20,000 dollar per trip in Hong Kong you can buy up to 15,000 US dollars worth of cryptocurrencies at ATMs without showing any ID some of them are really aggressive they try to do it twice a day as well every morning we can see around 20 to 30 people just lying up in the front door roughly they have to wait around for five hours a day just to buy the crypto every day around noontime we had to shut the machine already because the Korean people already bought all our points available for those machines this is definitely just like a garage period people see the chance and just wrap it's a cryptocurrency ecosystem emerged but in such a high stakes volatile environment great fortunes can be made and lost so for regulatory reasons many countries still don't acknowledge or the outright ban or dismiss it there's the risk of prosecution like the reason Satoshi Nakamoto stayed anonymous was they were really scared that we're the CIA or the NSA you know governments we try to put pressure on them or really pull them into jail to set an example right so that's why they remain anonymous for the executives in this industry it's a big problem the security you know oneexchange just got hacked too recently I think it was a few days ago in Korea we had a few exchanges hacked in Japan earlier this year it's a tough industry I'm out now I told my company we got out of exchange business so I could sleep well tonight but for many of the owner/manager CEO running an exchange it's something that keeps you up at night few years back there was a public experience in which some hacker was threatening to hurt my family and poison my mother and do all sorts of horrible things unless I paid them a ten thousand dollars in Bitcoin and of course I'm not gonna pay some anonymous person on the internet $10,000 in Bitcoin for extorting me especially since he could just extort me again the very next day if I were to pay him so rather than doing that I put up ten thousand dollars in Bitcoin at that time which today as we're recording this is now worth in the ballpark of I think three hundred and fifty thousand dollars and so there's currently three hundred and fifty thousand dollar bounty on information that leads to the arrest and conviction of that person that was trying to extort and threaten my family so much can go wrong in the crypto Kingdom there is a lot of noise not much transparency and no official watchdog is getting serious guys holy smokes is getting serious director of a uk-based crypto exchange kidnapped in Kiev breaking news so tether apparently has been hacked big surprise guys tether has been hacked for over 30 million dollars I'm gonna tell you how I lost $100,000 in cryptocurrency there's many ways to separate a fool from his money then number one is greed so I think a lot of people have seen maybe someone they know or a friend of a friend who's made a lot of money and crypto and maybe and they think okay this is my this is my way to buy something and a few days later you know I can go buy a new house or I can you know leave my job or whatnot and you know there are various individuals who will take advantage of you know greed and the lack of a willingness to actually do work I think there's a few pieces to security so there's your your own wallet when you look after it yourself I'll keep my Bitcoin on my computer I'll keep my private key myself what people quickly realize is that's you know putting all those points of failure in one place is a bit of a risk so they look to exchanges they said I'm gonna leave my crypto on the exchange they can deal with the security and what we've seen is that some exchanges can and some exchanges can't but it's another sort of point of failure a crisis for crypto currencies one of Japan's biggest exchanges loses half a billion dollars after a major hacking attack five hundred million dollars stolen from Tokyo based crypto exchange and coin check the biggest ever hacking heist of digital money more than 500 million dollars worth a cryptocurrency called nem gone in a flash stolen from the Japanese exchange coin check check no Apatow say you guys have an en kakuna Kakinada Germany hey guys over gonna surrender to you no han dicho Osaka Japan Oh Tina Johanna dictionary Japan oakna she like he guy means no so he said she can't guard in Coto oh my god kimochi can achieve an uni cotton is no not the kinda particular Indonesia a No kaboom Quan Chi cago en an endogenous Baroque era Yahoo nautical you may know or I know terrain totes cart a cold Medina almost like um a sidewalk the Jason Cohen check you know Nicholas can i Danny told Coco no casual order anyway I start to Jiki Natalie must name kokal parameter ito happen okano Quantico no see guys attach ba da da Vinci geneticist estrogen Aconitum Emma's Hondo's oh no Pato Tom Jobim Edina emeritus Anouk nice toga Oh an internal mic on de matar dr. jacques de terre disorder also critical kinetic award gains in step consist a the shakti mahayana kk- more or Kuchma who started the Doster indicate a semester ah-phoo techno-system doxology para or copy mr. tango facility-level have to convey so nachiketha sanitized a condos modo so take a nest o Mahadeva ha ha ha no day United am Panna testicle katakana comment of tonight by a Tomas who I get to record organized operatic Aria the akuto - ambassador - name coin check reimbursed most of their clients in japanese yen but the stolen cryptocurrency was impossible to recover blockchain transactions are irreversible every year there's dozens of smaller exchanges that are getting attacked and and these figures are like 30 million dollars here 40 million dollars there they're small numbers but they do add up to that that big 1.6 billion dollars as a whole we are gonna see more of these hacks going on because it's such a big target now bitcoins worth 120 billion dollars as a market cap so I think security is always going to be top of mind when it comes to cryptocurrencies while cryptocurrencies operate in a gray area in most of the world Japan created a legal framework in 2017 and is able to enforce industry standards to protect investors we need to enter by use this code for security reason that why is there trading room of course there this is happy son who was means a client buy or sell right if crying buy or sell we have opportunity to make money so this is happy son for us so we hope more in English every time all the great price is managed by data only internet however internet is very dangerous sometimes people attack to store your money that's why we make this room so that no internet attack it happen this is a computer of right so cannot steal the money from the only environment sorry this room so good this room also I can in the only system person can enter here psychiatric option Hey this is the security rule which we manage the cry an asset in a frying environment we use the USB here we hold there for five or five maybe four USB here and this is even though very small one each USB has current asset five million us for each one so even though this small one the body is very high yeah this is maybe like a Viking moon feature [Music] what's so exciting about cryptocurrencies from is by their technological design they are above the law no amount of violence can solve a math problem and cryptocurrencies are based on the laws of mathematics so even if politicians get together and pass all sorts of laws about this the only way to stop them would be to turn off the entire internet in the entire world and keep it turned off and I think at this point even the politicians aren't gonna they're not gonna try to do that you enter the crypto Kingdom at your own risk you are among libertarians software developers hackers cyber criminals entrepreneurs dreamers all looking to the future [Music] during the financial crisis I was used to a student so I didn't know what was happening but year later I found out that he actually affected a lot of my relatives and he actually Bank after some of the people I know my generation the Millennials a lot of people say that we have missed a boat because we are too late for length and we are too late to even didn't even say we are too late to start businesses because technology is really so advanced so if our parents could get rich or financial security of financial dependents to lend then what's in it for us [Music] when I was growing up my mom actually said like study hard get a degree you'll be rich and I say no this was I what happened to my grandparents not mean everybody has a degree now so I kind of feel like that for a goal that we missed out on as the war changers cryptocurrency is kind of that thing filling in the gate right now [Music] I've been an entrepreneur for about seven years now this is my second business we came over the idea of creating a multi-level store for who and Nova products a few years back because we saw that Singapore like fun experiential places whereby customers can not just buy something that they like but also have fun hands there's foosball tables there's arcade machines and there's many other experience elements in my store this year we are focusing a lot more on crypto currencies so we actually converting our stores to sell more crypto driven products I mean we are retailers so we understand what consumers want and like and we realized that cryptocurrency is not just a financial product but it's becoming a subculture popular culture product so we actually have a lot of Bitcoin and cryptocurrency merchandise for it but interested in understanding what photography is about so for example this book is actually for guys for those guys who don't really know what cryptocurrency is and they want to start learning about it we have softs for the people who have been more fashionable and probably they invest in the coin and you want to identify themselves a bit here I added some crypto banks for customers who don't know anything about cryptocurrency yet and they want to know why this comes me so oh yeah the first one will be phat phat stands for fear and suddenly end up so in a crypto market someone say stop spreading fat it means stop say I'm true things about my coin that will cause the coin to depreciate up fresh next one will be OCD obsessive cryptocurrency disorder pretty much me hits and the last one my favorite is actually ranked they are ekp rekt actually stands for rekt and then I'm completely wrecked by how bad my coins are right now so jus this is our market place we serve about 60,000 products here January this year we made it crypto only so we start accepting cash there are seven coins accepted on the store the first one will be mega eggs our very own coin so when we create a mega act we want to create something whereby it's more business owners can transact and transit and no cost at all simply because this is kind of what they need to grow their business our vendors are selling things like iced lemon tea is $3 cup if you went to PayPal you are taking off 50 cent per transaction but if you use mega X it's completely free so this kind of the mission of our army guys wants to do with the Nico to raise the funds to execute on death ICO stands for initial coin offering a revolutionary form of crowdfunding in the crypto world you outline a business plan and a white paper this is your sales pitch to a wider audience you then issue tokens usually in limited quantities for a defined period of time people who believe in your project can buy these tokens the proceeds go to fund your project the idea is that these tokens become points and the dream is that your coins become the next big cryptocurrency and go to the moon the fact that so many companies big or small doing ICO so just looking at idea of blockchain considering using it from food to fashion to banking to insurance the technology of blockchain is actually powerful and if people actually try to make this something that's applicable in their businesses I think we will see a positive change all around initial coin offerings inspired the crypto community to think of new projects beyond Bitcoin projects that relied on its underlying technology blockchain if the currency can be digitized then other assets can be digitized as well and many other things will be digitized and what's beyond Bitcoin so Bitcoin is really just digital Percy can you digitize gold can you digitize cool oil silver stocks and maybe artworks intellectual properties so we start realize that so many of us start thinking that can we do something we didn't quite blockchain yet we didn't call it blocking it we called Bitcoin 2.0 2.0 so we have lots of offline meetups everywhere in China Beijing Shanghai Guangzhou we called Bitcoin 2 point Bitcoin 2.0 meetups and Vitalik was was in China was part of be part of this the meetup italic Boucheron was a rising star in the crypto Kingdom in 2013 this young gifted Russian Canadian drew up a white paper on a project he called ethereum the second side of Bitcoin the Bitcoin watching is something that I think has been seeing a bit less attention maybe in the first few years but interest is also picking up so here are some of the first applications of Bitcoin not as a form of money but Bitcoin as a form of distributed consensus the general feeling was another coin yeah I didn't think it would be as important as a Bitcoin for the longest time but I read his blog I saw his team I was like wow do you have such a lavish team then I realized this is something different in late 2013 Vitalik very young at the time 1819 how old you want to create a Syria yes 19 19 years old created what is the most exciting project in the space since the toshi nakamoto whoever that is originally created Bitcoin so I put a lot of money into his I see that time by putting my own money I'm a believer [Music] [Music]

Channel: Plot11

Views: 351,682

Rating: 4.8668041 out of 5

Keywords: crypto currencies, bitcoin documentary, cryptocurrency documentary, bitcoin doc, bitcoins, bitcoin trading, crypto currency, cryptocurrency, documentaries finance, crypto, money documentary, documentaries, documentary, bitcoin, cryptonews, docs, docs finance, docs economy, docs money, documentary english, bitcoin news, crypto news, ethereum, token, cryptology, exchange, bitcoin cash, Cryptocurrency news, Bitcoin film, bitcoin movie, what is bitcoin, Documentary bitcoin, btc, btc film

Id: MiPG-5D4XKo

Length: 47min 3sec (2823 seconds)

Published: Sat Apr 25 2020

Reddit Comments

[u/slepyhed]

This is actually the 2nd episode in a series. I found the 1st episode here: https://youtu.be/Tc7M91bp_u8

[u/tootsiefoote]

its very well made and great introductory info

[u/nicernicer]

nice

[u/mystic1_]

Watched it that other day. Very informative.

[u/drkamikaze1]

Not available

[u/aBitnoob]

Video Unavailable !

[u/Master-of-the-rolls]

Okay, why did he say bitcoin is going to die in 2035 in the beginning and then they fail to elaborate on that throughout the whole video?