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3

Cryptocurrency’s Biggest Threat

Lecture no. 3 from the course: Crashes and Crises: Lessons from a History of Financial Disasters

Cryptocurrency’s Biggest Threat

Taught by Professor Connel Fullenkamp | 04 min | Categories: The Great Courses Plus Online Economics & Finance Courses

Crashes and crises are a normal part of financial activity, but see how keeping the lessons of historical crashes and crises fresh in mind can help us to avoid that. Professor Fullenkamp cautions against the current gold-rush mentality for cryptocurrencies and blockchain technology, noting how it is strikingly similar to the dotcom boom and bust of the late 1990s.

96 Lectures

1
Image of Fintech, Crypto, and the Future of Disaster
Fintech, Crypto, and the Future of Disaster
0 of 11 min
2
Image of Cryptocurrencies and Blockchains
Cryptocurrencies and Blockchains
0 of 11 min
3
Image of Cryptocurrency’s Biggest Threat
Cryptocurrency’s Biggest Threat
0 of 04 min
4
Image of The Con Men Charles Ponzi and Ivar Kreuger
The Con Men Charles Ponzi and Ivar Kreuger
0 of 02 min
5
Image of Three Key Ingredients of Charles Ponzi’s Scheme
Three Key Ingredients of Charles Ponzi’s Scheme
0 of 12 min
6
Image of The Match King: Charming, Charismatic, and a Cheat
The Match King: Charming, Charismatic, and a Cheat
0 of 11 min
7
Image of Lessons from Ponzi and Kreuger
Lessons from Ponzi and Kreuger
0 of 02 min
8
Image of A Boom in Busts
A Boom in Busts
0 of 02 min
9
Image of A History of Chaos: From Tulips to 1929
A History of Chaos: From Tulips to 1929
0 of 11 min
10
Image of Unleashing Deregulation, Leverage, and Risk
Unleashing Deregulation, Leverage, and Risk
0 of 14 min
11
Image of When Society and Regulation Conflict
When Society and Regulation Conflict
0 of 00 min
12
Image of The Tulip Bubble
The Tulip Bubble
0 of 10 min
13
Image of High Fashion, Broken Bulbs, and Avid Traders
High Fashion, Broken Bulbs, and Avid Traders
0 of 07 min
14
Image of Serious Trades or Fun and Games?
Serious Trades or Fun and Games?
0 of 09 min
15
Image of The South Sea Bubble
The South Sea Bubble
0 of 06 min
16
Image of British Government Cuts a Nifty Deal
British Government Cuts a Nifty Deal
0 of 19 min
17
Image of Rational Behavior in Irrational Markets
Rational Behavior in Irrational Markets
0 of 01 min
18
Image of The Mississippi Bubble
The Mississippi Bubble
0 of 04 min
19
Image of European Adventure: The Future of Money
European Adventure: The Future of Money
0 of 20 min
20
Image of The Paper Money Experiment Ends
The Paper Money Experiment Ends
0 of 01 min
21
Image of Holes in the Ground: Mining Stock Frauds
Holes in the Ground: Mining Stock Frauds
0 of 08 min
22
Image of George Graham Rice: World-Class Liar
George Graham Rice: World-Class Liar
0 of 13 min
23
Image of Herbert Hoover’s Close Call in London
Herbert Hoover’s Close Call in London
0 of 06 min
24
Image of The Panic of 1907
The Panic of 1907
0 of 04 min
25
Image of Dual-Charter Banking: Federal and State Licenses
Dual-Charter Banking: Federal and State Licenses
0 of 04 min
26
Image of How the Gold Standard Limited Bank Liquidity
How the Gold Standard Limited Bank Liquidity
0 of 09 min
27
Image of Enter J. P. Morgan
Enter J. P. Morgan
0 of 03 min
28
Image of Morgan’s Last Hurrah
Morgan’s Last Hurrah
0 of 06 min
29
Image of Hyperinflation in Germany and Zimbabwe
Hyperinflation in Germany and Zimbabwe
0 of 05 min
30
Image of The Origins of the German (or Weimar) Hyperinflation
The Origins of the German (or Weimar) Hyperinflation
0 of 05 min
31
Image of The Role of War Reparations in German Inflation
The Role of War Reparations in German Inflation
0 of 04 min
32
Image of From High Inflation to Hyperinflation
From High Inflation to Hyperinflation
0 of 07 min
33
Image of Trouble in Zimbabwe
Trouble in Zimbabwe
0 of 08 min
34
Image of The Crash of 1929
The Crash of 1929
0 of 09 min
35
Image of Hyperinflation’s Common Denominator
Hyperinflation’s Common Denominator
0 of 03 min
36
Image of Party Favors: Buying Stocks on Margin
Party Favors: Buying Stocks on Margin
0 of 03 min
37
Image of Stock Pools: Swimming with Sharks
Stock Pools: Swimming with Sharks
0 of 04 min
38
Image of From Optimism to Overvaluation
From Optimism to Overvaluation
0 of 09 min
39
Image of The Great Contraction of 1931–1933
The Great Contraction of 1931–1933
0 of 06 min
40
Image of 1930–1931: Regional Banking Panics
1930–1931: Regional Banking Panics
0 of 06 min
41
Image of Britain Abandons the Gold Standard
Britain Abandons the Gold Standard
0 of 06 min
42
Image of A New Era of Stability
A New Era of Stability
0 of 10 min
43
Image of The Savings and Loan Crisis
The Savings and Loan Crisis
0 of 07 min
44
Image of Overregulated? Or Out of Control?
Overregulated? Or Out of Control?
0 of 06 min
45
Image of Texas, Oil, and a Boom in Trouble
Texas, Oil, and a Boom in Trouble
0 of 05 min
46
Image of Silverado: Hustling Real Estate Deals
Silverado: Hustling Real Estate Deals
0 of 04 min
47
Image of Zombie S&Ls: Life after Death
Zombie S&Ls: Life after Death
0 of 05 min
48
Image of The Crash of 1987
The Crash of 1987
0 of 07 min
49
Image of Replication, Arbitrage, and the Creation of Portfolio Insurance
Replication, Arbitrage, and the Creation of Portfolio Insurance
0 of 07 min
50
Image of The Market Cools in October 1987
The Market Cools in October 1987
0 of 08 min
51
Image of Was Portfolio Insurance at Fault for the Crash?
Was Portfolio Insurance at Fault for the Crash?
0 of 06 min
52
Image of Japan’s Lost Decade
Japan’s Lost Decade
0 of 08 min
53
Image of The Wild Ride Begins
The Wild Ride Begins
0 of 04 min
54
Image of Japan’s Nikkei 225 Index
Japan’s Nikkei 225 Index
0 of 08 min
55
Image of The End of the Convoy System
The End of the Convoy System
0 of 05 min
56
Image of Lessons from the Lost Decade
Lessons from the Lost Decade
0 of 03 min
57
Image of Bankers Trust Swaps
Bankers Trust Swaps
0 of 04 min
58
Image of Certainty vs. Uncertainty
Certainty vs. Uncertainty
0 of 08 min
59
Image of Fixed vs. Floating
Fixed vs. Floating
0 of 04 min
60
Image of An Interesting Formula
An Interesting Formula
0 of 05 min
61
Image of Changing the Culture at Bankers Trust
Changing the Culture at Bankers Trust
0 of 07 min
62
Image of Asia, Greece, and Global Contagion
Asia, Greece, and Global Contagion
0 of 06 min
63
Image of The Three Sources of Demand for the Thai Baht
The Three Sources of Demand for the Thai Baht
0 of 07 min
64
Image of The Undervaluation-Overvaluation Equation
The Undervaluation-Overvaluation Equation
0 of 07 min
65
Image of Thailand’s Boom before the Bust
Thailand’s Boom before the Bust
0 of 04 min
66
Image of The Orange County, California, Bankruptcy
The Orange County, California, Bankruptcy
0 of 07 min
67
Image of Orange County Discovers Repos
Orange County Discovers Repos
0 of 04 min
68
Image of Robert Citron Leverages Up
Robert Citron Leverages Up
0 of 07 min
69
Image of Inverse Floaters: When Rates Rise
Inverse Floaters: When Rates Rise
0 of 09 min
70
Image of The Dotcom Bubble
The Dotcom Bubble
0 of 09 min
71
Image of Intangible Value and Technology
Intangible Value and Technology
0 of 04 min
72
Image of Misunderstanding P = D/(r - g)
Misunderstanding P = D/(r - g)
0 of 05 min
73
Image of The Theory of Growing First, Profiting Later
The Theory of Growing First, Profiting Later
0 of 09 min
74
Image of Rogue Traders at SocGen and Barings
Rogue Traders at SocGen and Barings
0 of 04 min
75
Image of Jérôme Kerviel and Société Générale
Jérôme Kerviel and Société Générale
0 of 05 min
76
Image of Jerome Kerviel’s Secret Strategy
Jerome Kerviel’s Secret Strategy
0 of 05 min
77
Image of Nick Leeson and Barings Bank
Nick Leeson and Barings Bank
0 of 09 min
78
Image of Do Rogue Traders Operate Alone?
Do Rogue Traders Operate Alone?
0 of 03 min
79
Image of Unhedged! Long-Term Capital Management
Unhedged! Long-Term Capital Management
0 of 07 min
80
Image of Meriwether’s Dream Team
Meriwether’s Dream Team
0 of 07 min
81
Image of The Fall of Long-Term Capital
The Fall of Long-Term Capital
0 of 11 min
82
Image of The London Whale and Value at Risk
The London Whale and Value at Risk
0 of 10 min
83
Image of Markets Aren’t Models
Markets Aren’t Models
0 of 05 min
84
Image of London Whale Affair
London Whale Affair
0 of 12 min
85
Image of The Goldilocks Economy and Three Bads
The Goldilocks Economy and Three Bads
0 of 08 min
86
Image of The Global Money Supply Expands
The Global Money Supply Expands
0 of 05 min
87
Image of Opportunities for Mischief
Opportunities for Mischief
0 of 09 min
88
Image of A Flawed Belief and Light Touch
A Flawed Belief and Light Touch
0 of 04 min
89
Image of Subprime Debt and the Run on Wall Street
Subprime Debt and the Run on Wall Street
0 of 04 min
90
Image of Birth of Subprime
Birth of Subprime
0 of 03 min
91
Image of New Century: A Domino Falls
New Century: A Domino Falls
0 of 15 min
92
Image of Allowing Lehman to Fail
Allowing Lehman to Fail
0 of 03 min
93
Image of China’s Shadow Banks
China’s Shadow Banks
0 of 06 min
94
Image of The Great Recession Hits China’s Exports
The Great Recession Hits China’s Exports
0 of 09 min
95
Image of Signaling Danger: Credit-to-GDP Ratio
Signaling Danger: Credit-to-GDP Ratio
0 of 07 min
96
Image of Will China Bail Itself Out Again?
Will China Bail Itself Out Again?
0 of 05 min

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