The Scam Aspect of Cryptocurrency

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i feel like one of the arguments that we have against some of the things that you're describing is that, oh, yes, but you also need to think about the marginalized people who crypto is benefiting. The global south and remins issues and sort of countries with unstable governments are a challenging rhetorical, intellectual landscape. Even just look at the numbers, the chivo wallets don't work; there's constant technical problems. There's no practical sense in which bicoin can be used for anything other than money laundering. And besides being beyond being impractical and intractable, fiotan wants to do this world revolution by scanning eyeball-to-eyeball every time someone uses it

As the podcast celebrates episode 100, Paris Marx is joined by Jacob Silverman to discuss the huge drop in crypto prices, the coming threat (to crypto) of interest rate hikes and regulation, the human impact of crypto schemes, and where things may be going next.

Jacob Silverman is a staff writer at The New Republic and writes about crypto with the actor Ben McKenzie. Follow Jacob on Twitter at @SilvermanJacob.

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.

Find out more about Harbinger Media Network at harbingermedianetwork.com.

Also mentioned in this episode:

Jacob and Ben McKenzie wrote about Tether. Zeke Faux also wrote an essential article on the stablecoin, and Jacob recommends Crypto Critics Corner.
Crypto prices have plunged, and that’s hurt regular people.
New York’s Attorney General reached a settlement with Tether last year.
VC firm Andreessen Horowitz is making a big lobbying push in Washington, DC to get favorable crypto regulations.
Matt Damon and Spike Lee are among the celebrities to take crypto money and help pump the industry.
US regulators are looking at crypto regulations, and Biden administration is planning an executive order to move it forward.
China banned crypto mining, Russia proposed a ban on crypto, and many countries have suffered power outages due to crypto mining.
Stephen Diehl wrote explained how crypto is about arbitraging securities regulation.
Diane Jeantet wrote about a massive series of Bitcoin pyramid schemes in Brazil.