Do quan: For many of these things not really any fundamental intrinsic value. The value is the ability for the system to reach a certain amount of belief, or something like that. And so because the value is very self referential and is not necessarily coming from some intrinsic property, i think it's very often that the sense of community and sense of belonging becomes an important of the narrative. It makes perfect sense when we look at the effect of this crash, right?
Paris Marx is joined by Bennett Tomlin to discuss last week’s crash of Terra and Luna, the problems with stablecoins, and whether this collapse will finally force regulators to take action on cryptocurrency.
Bennett Tomlin is a co-host of Crypto Critics’ Corner and writer of the FUD Letter. Follow Bennett on Twitter at @BennettTomlin.
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.
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