Gotham’s Ben McKenzie solves the crypto problem in response to Jon Favreau’s podcast

Actor Ben McKenzie, known for his role as Jim Gordon in Fox’s superhero crime drama series Gothamlisted crypto market issues in response to podcaster Jon Favreau Pod Save America cryptocurrency episode.

McKenzie, who holds an undergraduate degree in economics and foreign affairs, said Favreau’s guest speaker Kevin Roose didn’t get the full picture of money fundamentals when discussing the role of cryptography in modern markets. “Money is a public good, as well as a social construct,” McKenzie explained on Twitter. “The first part is pretty self-explanatory: we all rely on money to keep our modern economies running efficiently.” The actor argued that money was a social construct and only existed because the public trusted its perceived value. McKenzie further questioned the viability of a “trustless” currency.

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It should be noted that the Favreau under discussion since Pod Save America is not the same Favreau of the Marvel Cinematic Universe and star wars. “Private money is something we tried in the 19th century. It was a miserable failure,” he continued in a later tweet. “When people lost faith in the banks that issued these funds, the subsequent runs rendered the ‘currencies’ worthless.”

McKenzie also dismissed cryptocurrency as an example of decentralized currency. The Gotham star claimed that crypto markets are in fact highly centralized. He explained that cryptocurrencies were under the control of market makers, who used the currencies for transactions with brokers, clearinghouses and their own exchanges.

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“The truth is that these ‘cryptocurrencies’ aren’t actually currencies at all, because they don’t work the way they do: they’re a mediocre medium of exchange, unit of account, and store of value,” he said. he declared. McKenzie thought cryptocurrencies were closer to securities, the only difference being that cryptocurrencies currently lack regulation. “We tried that in the 1920s before we had securities laws in this country. It didn’t go over well,” McKenzie concluded.

It’s not the first time that Gotham star slammed influencers involved in the crypto market. McKenzie previously advised celebrities who profited from cryptocurrency to apologize and donate their profits to victims of crypto-fraud. “Oh, and given enough time, we’ll probably find out how much you [celebrities] got paid anyway,” the actor said at the time. “Just in case you want a little more motivation to do the right thing.” McKenzie also announced that he was collaborating with the reporter Jacob Silverman for a book entitled easy moneywhich will study the effects of the cryptocurrency market.

McKenzie starred in Gotham for all five seasons it aired on Fox between 2014 and 2019. In 2021, fans rallied around the #SaveGotham hashtag in a bid to renew the series for a sixth season viz.

The five seasons of Gotham are available to stream on Netflix.

Source: Twitter

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