crypto currency operates a lot like ati level marketing scheme, or m l m. Many coiners claim they are hoddling - holding with the d and l changing place. Hoddling is another way of attempting to artificially infuse it with meaning and val. Some people we call bitcoin maximaus (a term that even those who really believe in bitcoin will invoke to describe themselves) But i thinki to varying degrees, it provides sort of a a community, a social purposebinding agent that brings people together. It's also about this shared delusion that number go up.
Edward Ongweso Jr. and Jacob Silverman on cryptocurrency, NFTs, Elon Musk, the metaverse, meme stocks, and techno-utopianism amid the crushing reality of our neoliberal hellscape. The first in a two-episode series on crypto.
Read Dan's new essay on border control politics: nplusonemag.com/online-only/online-only/border-crises/
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