How 2024 became a crypto election
crypto election.
Six years ago, I argued that bitcoin and other cryptocurrencies served no useful purpose, that their market value rested on nothing but «technobabble and libertarian derp.» I stand by that judgment, which has actually been reinforced by the passage of time.
But I didn't foresee how big a deal crypto would nonetheless become — not because it would fulfill its promise of replacing conventional money, which it hasn't and never will, but because it has become a powerful force that is, among other things, warping our politics.
What is crypto? Donald Trump recently said, «Most people have no idea what the hell it is.» Indeed. Even now, it's hard to explain exactly what bitcoin and other crypto assets really are.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»But maybe this will help: Who guarantees that the money in my bank account belongs to me? Why can't the bank tell me, «Sorry, we used that money to pay other people»? The answer is that doing so would be illegal.
What bitcoin and its emulators try to do is sidestep the need for a legal framework with a
