The Crypto Skeptic vs The Coinbase CEO | Brian Armstrong x Nikhil Kamath | People by WTF

I've said it before — I'm a crypto critic. I've never bought a Bitcoin, never held a stable coin, never traded a perp. So I sat down with Brian Armstrong, the CEO of Coinbase — the company that stores more crypto than anyone else on the planet — and asked him to explain the whole thing from scratch, like I was an idiot. What followed was the most patient walkthrough of this industry I've ever been given: what a blockchain actually is, why proof of stake replaced proof of work, how stable coin issuers make money, and why he believes fractional reserve banking — the foundation of every bank you've ever used — shouldn't be the foundation of anything. I pushed him on where the yield really comes from, why an intermediary deserves my treasury returns, and whether crypto has quietly become the opposite of everything Satoshi wrote in that white paper. I'm still not buying a Bitcoin. But for the first time, I understand why so many people do. Timestamps: 00:00 Introduction 05:12 Income inequ