The Death Spirale of Cryptocurrency

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The new money going into the system has been drying up as though e rang, ok. And in order to compensate for this, the miners have been not able to sell insignificant quantities. So they've been accumulating bicoin and rium on their balance sheet and borrowing against it. Once you start liquidating, the price goes down, forcing even more people to liquidate. That's the death spiral. Lik behashearts: Is there some sort of future form that this takes a?

Crypto is crashing, which makes it the perfect time to ask whether blockchain technology is actually — you know — useful for anything. Computer scientist Nicholas Weaver joins Adam to discuss the inherent flaws in the technology, the shockingly slow state of innovation considering that the technology has been around for a decade, and what a better system for digital money might be. You can follow Nicholas on Twitter at @ncweaver. Learn more about your ad choices. Visit megaphone.fm/adchoices See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.