Cryptocurrency

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The whales, the people with the largest amounts of crypto currency, control so much that it is in effect not decentralized. So a that bitcoin, despite being no central authority, you look at three or four miners, and they control basically the whole system. And etherium, the miners are worse. Ethereums big use is basically building other ponse schemes, a building all these enetis and smart contracts and sup things and stuff like that.

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.