Tether is supposed to maintain a constant price of one us. Dollar per tether coin. The attorney general said that tether has been lying all along about how much money it has to back these tethers. There is a really disturbing coincidence between the issuing of tethers, which are issued in just millions of dollars all the time, and the shape of the bit coin trading market. It looks like that market is just being flooded with phantom dollars to keep it floating.
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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