The Dark Side of Crypto with Lee Reiners

In this episode of The Vivek Show, host Vivek Ramaswamy and guest Lee Reiners, a Duke University lecturer and financial regulation expert, discuss the aftermath of the 2008 financial crisis and its impact on American capitalism. They delve into the world of cryptocurrency, exploring its origins, security vulnerabilities, and philosophical implications. From the role of intermediaries to North Korea's use of cryptocurrency to fund its ballistic missile program, this conversation provides valuable insights into the complexities of the crypto ecosystem and the future of the financial system.
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Time-codes:

00:00:25 - Negative impact of 2008 financial crisis on American capitalism

00:01:47 - Learning from past crises to prevent long-term damage

00:03:30 - Introduction of guest Lee Reiners and his background

00:06:58 - The polarizing nature of cryptocurrency

00:07:57 - Students becoming crypto regulatory experts

00:08:36 - Cryptocurrency failing as a store of value

00:10:35 - Blockchain technology as the backbone of cryptocurrencies

00:11:20 - Crypto as a peer-to-peer payment system

00:11:47 - Why people prefer intermediaries in crypto transactions

00:14:27 - Security vulnerabilities of cryptocurrency

00:15:33 - North Korea's exploitation of crypto vulnerabilities

00:16:14 - Cryptocurrency funding North Korea's ballistic missile program

00:18:18 - Complexities of regulating crypto exchanges

00:20:54 - Philosophical debate on property rights in cryptocurrencies

00:22:07 - The high-profile 2016 DAO hack on Ethereum blockchain