Bid coins are used on the dark web to buy and sell things that would be illegal with credit cards or ordinary currency. Bitcoin is not regulated in the same way as financial markets, so its value can fluctuate a lot. The people who promote bitcoin most are interested in it as an investment vehicle - they want to get rich with it. Ant o in just as a sort of rule of thumb, if you see something going up 600 % in a few weeks, it's fair to guess that it might also go down by 99%. But bitcoins haven't done anything like that yet because their price has remained stable.
Paris Marx is joined by David Golumbia to discuss the ideology of cyberlibertarianism, the right-wing politics of cryptocurrencies and blockchains, and why the left shouldn’t embrace them.
David Golumbia is an associate professor at Virginia Commonwealth University and the author of “The Politics of Bitcoin: Software as Right-Wing Extremism.” He’s also writing a new book called “Cyberlibertarianism” from Minnesota University Press. Follow David on Twitter as @dgolumbia.
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Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter, and support the show on Patreon.
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