From 30a29db700eac95a81b80b9e0271b26e1179ffce Mon Sep 17 00:00:00 2001 From: sdiehl Date: Sun, 10 Apr 2022 11:59:12 +0100 Subject: [PATCH] Finish commentary --- notes/web3-dystopia.md | 340 ++++++++++++++++++++++++++++++++++++++++- 1 file changed, 337 insertions(+), 3 deletions(-) diff --git a/notes/web3-dystopia.md b/notes/web3-dystopia.md index 3b2d663..03ef1a2 100644 --- a/notes/web3-dystopia.md +++ b/notes/web3-dystopia.md @@ -1,6 +1,6 @@ # Web3 is a Libertarian Dystopia -A critical video essay on the web3 ideology and culture done by anti-MLM and cultural critic munecat. +A comedic critical video essay on the web3 ideology and culture done by anti-MLM and cultural critic [münecat](https://www.youtube.com/channel/UCqNpjt_UcMPgm_9gphZgHYA). https://www.youtube.com/watch?v=u-sNSjS8cq0 @@ -28,20 +28,354 @@ From the video description on YouTube. # Excerpts -### Intro ### NFTs + +**Concepts Referenced**: +* [nft](../concepts/nft.md) +* [art](../concepts/art.md) +* [illicit-financing](../concepts/illicit-financing.md) +* [money-laundering](../concepts/money-laundering.md) +* [aml](../concepts/aml.md) +* [mlm](../concepts/mlm.md) +* [whale](../concepts/whale.md) +* [market-manipulation](../concepts/market-manipulation.md) +* [bond](bond.md) + +**Sources** +* Olson, Dan. 2022. Line Goes Up – The Problem With NFTs. https://www.youtube.com/watch?v=YQ_xWvX1n9g. +* Beeple collage smashes digital art record with $69.3m sale + - https://www.ft.com/content/2f28eac6-547a-43f2-b7d3-593da9f46a3d +* Metakovan, the mystery Beeple art buyer, and his NFT/DeFi scheme + - https://amycastor.com/2021/03/14/metakovan-the-mystery-beeple-art-buyer-and-his-nft-defi-scheme/ + +*** + ### Gary Vee's NFTs + +**Concepts Referenced**: +* [asymmetric-information](../concepts/asymmetric-information.md) +* [cartel](../concepts/cartel.md) +* [bandwagon-bias](../concepts/bandwagon-bias.md) +* [survivorship-bias](../concepts/survivorship-bias.md) +* [wash-trading](../concepts/wash-trading.md) +* [pyramid-scheme](../concepts/pyramid-scheme.md) + +**Sources** +* Olson, Dan. 2022. The Problem With NFTs. https://www.youtube.com/watch?v=YQ_xWvX1n9g. +* Tonelli, Emily. 2022. ‘Internet Guru Tim O’Reilly: Crypto and NFTs Are “Pretty Serious Speculative Bubble”’. Decrypt. 10 February 2022. https://decrypt.co/92676/internet-guru-tim-oreilly-crypto-nfts-serious-speculative-bubble. +* Bodó, Balázs, Alexandra Giannopoulou, João Quintais, and Péter Mezei. 2022. ‘The Rise of NFTs: These Aren’t the Droids You’re Looking For’. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4000423. +* Çağlayan Aksoy, Pınar, and Zehra Özkan Üner. 2021. ‘NFTs and Copyright: Challenges and Opportunities’. Journal of Intellectual Property Law & Practice 16 (10): 1115–26. https://doi.org/10.1093/jiplp/jpab104. + +*** + ### Celebrity NFTs + +**Concepts Referenced**: +* [ficticious-commodity](../concepts/ficticious-commodity.md) +* [bubble](../concepts/bubble.md) +* [greater-fool-theory](../concepts/greater-fool-theory.md) + +**Sources** + +* Diehl, Stephen. 2021. ‘The Tinkerbell Griftopia’. 19 November 2021. https://www.stephendiehl.com/blog/tinkerbell.html. +* Frye, Brian L. 2021. ‘After Copyright: Pwning NFTs in a Clout Economy’. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3971240. +* Guadamuz, Andres. 2021. ‘The Treachery of Images: Non-Fungible Tokens and Copyright’. SSRN Electronic Journal 16 (12): 1367–85. https://doi.org/10.2139/ssrn.3905452. +* Kim, Soyeon. 2020. ‘Fractional Ownership, Democratization, and Bubble Formation - The Impact of Blockchain Enabled Asset Tokenization’. 26th Americas Conference on Information Systems, AMCIS 2020, 0–5. https://aisel.aisnet.org/amcis2020/adv_info_systems_research/adv_info_systems_research/19/. + +*** + ### Play-to-earn NFTs +**Concepts Referenced**: +* [predatory-inclusion](../concepts/predatory-inclusion.md) +* [non-economic](../concepts/non-economic.md) +* [pyramid-scheme](../concepts/pyramid-scheme.md) +* [use-value](../concepts/use-value.md) + +**Sources** +* Graeber, David. 2019. ‘Bullshit Jobs: The Rise of Pointless Work, and What We Can Do about It’. +* Butler, Paul. n.d. ‘“Play-to-Earn” and Bullshit Jobs’. Accessed 2 March 2022. https://paulbutler.org/2021/play-to-earn-and-bullshit-jobs/. +* Dowling, Michael. 2022. ‘Is Non-Fungible Token Pricing Driven by Cryptocurrencies?’ Finance Research Letters 44: 102097. +* Zitron, Ed. 2022. ‘The Infinite Exploitation Of Cryptocurrency’. Substack. Where’s Your Ed At (blog). 30 March 2022. https://ez.substack.com/p/the-infinite-exploitation-of-cryptocurrency?s=r. + +*** + ### NFT marketing works exactly like MLMs + +**Concepts Referenced**: + +* [mlm](../concepts/mlm.md) +* [financial-nihilism](../concepts/financial-nihilism.md) +* [ponzi-scheme](../concepts/ponzi-scheme.md) +* [ponzinomics](../concepts/ponzinomics.md) +* [survivorship-bias](../concepts/survivorship-bias.md) +* [wash-trading](../concepts/wash-trading.md) + +**Sources** +* Mims, Christopher. n.d. ‘NFTs, Cryptocurrencies and Web3 Are Multilevel Marketing Schemes for a New Generation’. Accessed 14 March 2022. https://www.wsj.com/articles/nfts-cryptocurrencies-and-web3-are-multilevel-marketing-schemes-for-a-new-generation-11645246824. + +*** + + ### Influencers and Poocoins, Securities Fraud + +**Concepts Referenced**: +* [liquidity-pool](../concepts/liquidity-pool.md) +* [crypto-exchange](../concepts/crypto-exchange.md) +* [risk](../concepts/risk.md) +* [ico](../concepts/ico.md) +* [security](../concepts/security.md) +* [ponzi-scheme](../concepts/ponzi-scheme.md) +* [moral-hazard](../concepts/moral-hazard.md) +* [regulatory-capture](../concepts/regulatory-capture.md) +* [blockchain](../concepts/blockchain.md) + +**Sources** +* Azgad-Tromer, Shlomit. 2018. ‘Crypto Securities: On the Risks of Investments in Blockchain-Based Assets and the Dilemmas of Securities Regulation’. Am. UL Rev. 68: 69. +* Boreiko, Dmitri, Guido Ferrarini, and Paolo Giudici. 2019. ‘Blockchain Startups and Prospectus Regulation’. European Business Organization Law Review 20 (4): 665–94. https://doi.org/10.1007/s40804-019-00168-6. +* Cumming, Douglas J., Sofia Johan, and Anshum Pant. 2019. ‘Regulation of the Crypto-Economy: Managing Risks, Challenges, and Regulatory Uncertainty’. Journal of Risk and Financial Management 12 (3): 126. https://doi.org/10.3390/jrfm12030126. +* Debler, Julianna. 2018. ‘Foreign Initial Coin Offering Issuers Beware: The Securities and Exchange Commission Is Watching’. Cornell Int’l LJ 51: 245. +* Ferrari, Valeria. 2020. ‘The Regulation of Crypto-Assets in the EU – Investment and Payment Tokens under the Radar’. Maastricht Journal of European and Comparative Law 27 (3): 325–42. https://doi.org/10.1177/1023263X20911538. +* Securities, US, Exchange Commission, and others. 2017. ‘SEC Issues Investigative Report Concluding DAO Tokens, a Digital Asset, Were Securities’. US Securities and Exchange Commission 25: 2017–2131. + +*** + ### Cryptoland + +**Concepts Referenced**: +* [post-state-technocracy](post-state-technocracy.md) +* [libertarianism](../concepts/libertarianism.md) +* [capitalism](../concepts/capitalism.md) +* [high-control-group](../concepts/high-control-group.md) +* [thought-terminating-cliches](../concepts/thought-terminating-cliches.md) +* [is-weird-culture](../claims/is-weird-culture.md) +* [regulatory-arbitrage](../concepts/regulatory-arbitrage.md) + +**Sources** +* Kelly, Jemima. 2022. ‘Cryptoland: A Glimpse into the Future We All Deserve’. Financial Times, 7 January 2022. https://www.ft.com/content/c79ea41b-41c0-4900-90ee-6e6347449610. +* Eich, Stefan. 2019. ‘Old Utopias, New Tax Havens: The Politics of Bitcoin in Historical Perspective’. Regulating Blockchain: Techno-Social and Legal Challenges, 85–98. +* Allon, Fiona. 2018. ‘Money after Blockchain: Gold, Decentralised Politics and the New Libertarianism’. Australian Feminist Studies 33 (96): 223–43. https://doi.org/10.1080/08164649.2018.1517245. +* Beltramini, Enrico. 2021. ‘Against Technocratic Authoritarianism. A Short Intellectual History of the Cypherpunk Movement’. Internet Histories 5 (2): 101–18. https://doi.org/10.1080/24701475.2020.1731249. +* Brody, Ann, and Stéphane Couture. 2021. ‘Ideologies and Imaginaries in Blockchain Communities: The Case of Ethereum’. Canadian Journal of Communication 46 (3). https://doi.org/10.22230/cjc.2021v46n3a3701. +* Golumbia, David. 2013. ‘Cyberlibertarianism: The Extremist Foundations of “Digital Freedom.”’ Clemson University Department of English. +* Inwood, Olivia, and Michele Zappavigna. 2021. ‘Ideology, Attitudinal Positioning, and the Blockchain: A Social Semiotic Approach to Understanding the Values Construed in the Whitepapers of Blockchain Start-Ups’. Social Semiotics, 1–19. https://doi.org/10.1080/10350330.2021.1877995. + +*** + ### Web3 vs Web3 + +**Concepts Referenced**: +* [fiat-money](../concepts/fiat-money.md) +* [is-new-financial-system](../claims/is-new-financial-system.md) +* [is-hedge-inflation](../claims/is-hedge-inflation.md) +* [crypto-exchange](../concepts/crypto-exchange.md) + +**Sources** +* Marx, Paris. n.d. ‘Why Web3, the Blockchain and Crypto Internet, Is Doomed to Fail’. Accessed 29 March 2022. https://www.businessinsider.com/web3-blockchain-crypto-internet-doomed-fail-doesnt-live-up-hype-2022-3?r=US&IR=T. + +*** + ### Banking the Unbanked + +**Concepts Referenced**: +* [unbanked](../concepts/unbanked.md) +* [predatory-inclusion](../concepts/predatory-inclusion.md) +* [rtgs](../concepts/rtgs.md) +* [private-money](../concepts/private-money.md) +* [is-private-money](../claims/is-private-money.md) +* [is-environmental-footprint](../claims/is-environmental-footprint.md) +* [bitcoin](../concepts/bitcoin.md) +* [illicit-financing](../concepts/illicit-financing.md) + +**Sources** +* Debate: Crypto Can Bank the Unbanked + - https://intelligencesquared.com/events/debate-crypto-can-bank-the-unbanked/ +* Gürses, Seda, Arun Kundnani, and Joris Van Hoboken. 2016. ‘Crypto and Empire: The Contradictions of Counter-Surveillance Advocacy’. Media, Culture and Society 38 (4): 576–90. https://doi.org/10.1177/0163443716643006. +* Jutel, Olivier. 2022. ‘Blockchain Humanitarianism and Crypto-Colonialism’. Cell Press Open Access, Patterns, 3 (1): 8. https://doi.org/10.1016/j.patter.2021.100422. +* Ottenhof, Luke. 2021. ‘Crypto-Colonialists Use the Most Vulnerable People in the World as Guinea Pigs’. VICE Media. +* Crandall, Jillian. 2019. ‘Cryptoeconomic Geographies and Contestation in Puerto Rico’. Thesis. PhD Thesis. http://jilliancrandall.net/cryptoeconomic-geographies-and-contestation-in-pr/. +* Greeley, Brendan. 2019. ‘Facebook’s Libra Will Not Help the Unbanked’. Financial Times 18. +* Kapsis, Ilias. 2021. ‘Should We Trade Market Stability for More Financial Inclusion? The Case of Crypto-Assets Regulation in EU’. FinTech, Artificial Intelligence and the Law: Regulation and Crime Prevention, 85–104. https://doi.org/10.4324/9781003020998-9. +* Sen, Atreyee, Johan Lindquist, and Marie Kolling. 2020. Who’s Cashing in? Contemporary Perspectives on New Monies and Global Cashlessness. Vol. 19. Berghahn Books. + +*** + ### Is it secure? + +**Concepts Referenced**: +* [private-key](../concepts/private-key.md) +* [wallet](../concepts/wallet.md) +* [platform-risk](../concepts/platform-risk.md) +* [money-laundering](../concepts/money-laundering.md) +* [money-services-business](../concepts/money-services-business.md) +* [mixer](../concepts/mixer.md) +* [ransomware](../concepts/ransomware.md) +* [pseudonymous](../concepts/pseudonymous.md) +* [kyc](../concepts/kyc.md) + +**Sources** +* Plant, Luke. 2022. ‘The Technological Case against Bitcoin and Blockchain’. Luke Plant’s Home Page. 5 March 2022. https://lukeplant.me.uk/blog/posts/the-technological-case-against-bitcoin-and-blockchain/. +* Rosenthal, David. n.d. ‘Stanford Lecture on Cryptocurrency’. Accessed 2 March 2022. https://blog.dshr.org/2022/02/ee380-talk.html. +* Schneier, Bruce. 2019. ‘There’s No Good Reason to Trust Blockchain Technology’. Wired Magazine. https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/. +* Diehl, Stephen. 2021. ‘The Non-Innovation of Cryptocurrency’. 7 July 2021. https://www.stephendiehl.com/blog/non-innovation.html. +* Weaver, Nicholas. 2018a. ‘Risks of Cryptocurrencies’. Communications of the ACM 61 (6): 20–24. +* ———. 2018b. Blockchains and Cryptocurrencies: Burn It With Fire. Berkeley School of Information. https://www.youtube.com/watch?v=xCHab0dNnj4. +* ———. 2021. ‘The Web3 Fraud’. USENIX. 16 December 2021. https://www.usenix.org/publications/loginonline/web3-fraud. + +*** + ### Sending money internationally? + +**Concepts Referenced**: +* [regulatory-arbitrage](../concepts/regulatory-arbitrage.md) +* [sanctions-enforcement](../concepts/sanctions-enforcement.md) +* [is-better-payments](../claims/is-better-payments.md) +* [is-transnational-payment](../claims/is-transnational-payment.md) +* [bearer-instrument](../concepts/bearer-instrument.md) + +**Sources** +* Cembalest, Michael. 2022. ‘The Maltese Falcoin: On Cryptocurrencies and Blockchains’. https://privatebank.jpmorgan.com/content/dam/jpm-wm-aem/global/pb/en/insights/eye-on-the-market/the-maltese-falcoin.pdf. +* Scheck, Justin, and Shane Shifflett. 2018. ‘How Dirty Money Disappears into the Black Hole of Cryptocurrency’. Wall Street Journal 28. +* Buttigieg, Christopher P., Christos Efthymiopoulos, Abigail Attard, and Samantha Cuyle. 2019. ‘Anti-Money Laundering Regulation of Crypto Assets in Europe’s Smallest Member State’. Law and Financial Markets Review 13 (4): 211–27. https://doi.org/10.1080/17521440.2019.1663996. +* Fanusie, Yaya, and Tom Robinson. 2018. ‘Bitcoin Laundering: An Analysis of Illicit Flows into Digital Currency Services’. Center on Sanctions and Illicit Finance Memorandum, January. +* Fletcher, Emily, Charles Larkin, and Shaen Corbet. 2021. ‘Countering Money Laundering and Terrorist Financing: A Case for Bitcoin Regulation’. Research in International Business and Finance 56 (January): 101387. https://doi.org/10.1016/j.ribaf.2021.101387. +* Orcutt, Mike. 2020. ‘This Is How North Korea Uses Cutting-Edge Crypto Money Laundering to Steal Millions’. MIT Technology Review. MIT Technology Review. http://www.technologyreview.com/2020/03/05/916688/north-korean-hackers-cryptocurrency-money-laundering/. + +*** + ### bUt tHe FeD pRiNtS mOnEy + +**Concepts Referenced**: +* [deflationary](../concepts/deflationary.md) +* [is-hedge-debasement](../claims/is-hedge-debasement.md) +* [stablecoin](../concepts/stablecoin.md) +* [commercial-paper](../concepts/commercial-paper.md) +* [ponzi-scheme](../concepts/ponzi-scheme.md) +* [libertarianism](../concepts/libertarianism.md) +* [decentralization](../concepts/decentralization.md) +* [mining](../concepts/mining.md) +* [consensus-algorithm](../concepts/consensus-algorithm.md) +* [market-manipulation](../concepts/market-manipulation.md) +* [central-banks](../concepts/central-banks.md) +* [recentralization](../concepts/recentralization.md) +* [platform-risk](../concepts/platform-risk.md) +* [gold-standard](../concepts/gold-standard.md) +* [bank](../concepts/bank.md) +* [deposit](../concepts/deposit.md) +* [ethereum](../concepts/ethereum.md) +* [proof-of-stake](../concepts/proof-of-stake.md) + +**Sources** +* Corradi, Fiammetta, and Philipp Höfner. 2018. ‘The Disenchantment of Bitcoin: Unveiling the Myth of a Digital Currency’. International Review of Sociology 28 (1): 193–207. https://doi.org/10.1080/03906701.2018.1430067. +* Stolfi, Jorge. n.d. ‘Bitcoin Is a Ponzi’. Accessed 19 March 2022. https://ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin-ponzi.html. +* ‘Why Bitcoin Is Worse than a Madoff-Style Ponzi Scheme’. n.d. Accessed 20 March 2022. https://www.ft.com/content/83a14261-598d-4601-87fc-5dde528b33d0. +* Binder, Carola. 2021. ‘Technopopulism and Central Banks’. SSRN Electronic Journal. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3823456. +* Braun, Benjamin, and Daniela Gabor. 2019. ‘Central Banking, Shadow Banking, and Infrastructural Power’. https://doi.org/10.31235/osf.io/nf9ms. +* Malloy, Matthew, and David Lowe. 2021. ‘Global Stablecoins: Monetary Policy Implementation Considerations from the U.S. Perspective’. Finance and Economics Discussion Series 2021 (020): 1–14. https://doi.org/10.17016/feds.2021.020. +* Roche, Cullen O. 2011. ‘Understanding the Modern Monetary System’. http://ssrn.com/paper=1905625. +* Eich, Stefan. 2018. ‘The Currency of Politics’. The Political Theory of Money from Aristotle to Keynes. +* Gorton, Gary B., and Jeffery Zhang. 2021. ‘Taming Wildcat Stablecoins’. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3888752. +* Hockett, Robert C. 2019. ‘Money’s Past Is Fintech’s Future: Wildcat Crypto, the Digital Dollar, and Citizen Central Banking’. +* ‘Private Money vs Totally-Public Money, plus Some History | Financial Times’. n.d. Accessed 20 March 2022. https://www.ft.com/content/40592d6d-5a32-3606-a54f-cdc411e90c20. +* Steele, Graham. 2021. ‘The Miner of Last Resort: Digital Currency, Shadow Money and the Role of the Central Bank’. Technology and Government, Emerald Studies in Media and Communications, Forthcoming. + +*** + + ### The Superbowl Crypto ads & the "Early days" argument + +**Concepts Referenced**: +* [risk](../concepts/risk.md) +* [is-new-internet](../claims/is-new-internet.md) +* [mining](../concepts/mining.md) +* [ethereum](../concepts/ethereum.md) +* [pre-mine](../concepts/pre-mine.md) +* [security](../concepts/security.md) +* vapourware +* [techno-obscurantism](../concepts/techno-obscurantism.md) +* [exit-scam](../concepts/exit-scam.md) + +**Sources** +* White, Molly. 2022. ‘It’s Not Still the Early Days’. Molly White. 14 January 2022. https://blog.mollywhite.net/its-not-still-the-early-days/. + +*** + + ### BItcoin: The Gold Standard & Right-Wing Extremism + +**Concepts Referenced**: +* [gold-standard](../concepts/gold-standard.md) +* [is-digital-gold](../claims/is-digital-gold.md) +* [bubble](../concepts/bubble.md) +* [bank-run](../concepts/bank-run.md) +* [deflationary](../concepts/deflationary.md) +* [bretton-woods](../concepts/bretton-woods.md) +* [keynsian-economics](../concepts/keynsian-economics.md) +* [security](../concepts/security.md) +* [deposit-insurance](../concepts/deposit-insurance.md) +* [market-fundamentalism](market-fundamentalism.md) +* [is-hedge-inflation](../claims/is-hedge-inflation.md) +* [inflationary](../concepts/inflationary.md) +* [high-control-group](../concepts/high-control-group.md) +* [libertarianism](../concepts/libertarianism.md) +* [technolibertarianism](../concepts/technolibertarianism.md) +* [sound-money](../concepts/sound-money.md) +* [austrian-economics](../concepts/austrian-economics.md) +* [money](../concepts/money.md) + +**Sources** +* Hanley, Brian P. 2018. ‘The False Premises and Promises of Bitcoin’. ArXiv:1312.2048 [Cs, q-Fin], July. http://arxiv.org/abs/1312.2048. +* Wolf, Martin. 2019. ‘The Libertarian Fantasies of Cryptocurrencies’. Financial Times, February. https://www.ft.com/content/eeeacd7c-2e0e-11e9-ba00-0251022932c8. +* Allon, Fiona. 2018. ‘Money after Blockchain: Gold, Decentralised Politics and the New Libertarianism’. Australian Feminist Studies 33 (96): 223–43. https://doi.org/10.1080/08164649.2018.1517245. +* Bemanke, Ben, and Harold James. 1991. ‘The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison’. In Financial Markets and Financial Crises, 33–68. University of Chicago Press. https://www.nber.org/books-and-chapters/financial-markets-and-financial-crises/gold-standard-deflation-and-financial-crisis-great-depression-international-comparison. +* Bernanke, Ben S. 2004. Essays on the Great Depression. Princeton University Press. +* Plender, John. 2022. ‘Crypto vs Gold: The Search for an Investment Bolt Hole’. Financial Times, 1 April 2022. https://www.ft.com/content/d497772f-7422-4372-b72d-f74f96884466. +* Brody, Ann, and Stéphane Couture. 2021. ‘Ideologies and Imaginaries in Blockchain Communities: The Case of Ethereum’. Canadian Journal of Communication 46 (3). https://doi.org/10.22230/cjc.2021v46n3a3701. +* Gerard, David. n.d. ‘Neo-Nazis Bet Big on Bitcoin (And Lost)’. Accessed 3 March 2022. https://foreignpolicy.com/2019/03/19/neo-nazis-banked-on-bitcoin-cryptocurrency-farright-christchurch/. +* Golumbia, David. 2013a. ‘Cyberlibertarianism: The Extremist Foundations of “Digital Freedom.”’ Clemson University Department of English. +* ———. 2013b. ‘Cyberlibertarians’ Digital Deletion of the Left: Technological Innovation Does Not Inherently Promote the Left’s Goals’. Retrieved 2 (10): 2014. +* ———. 2015. ‘Bitcoin as Politics: Distributed Right-Wing Extremism’. MoneyLab Reader: An Intervention in Digital Economy, Amsterdam: Institute of Network Cultures. +* ———. 2016. The Politics of Bitcoin: Software as Right-Wing Extremism. University of Minnesota Press. +* ———. 2018. ‘Zealots of the Blockchain: The True Believers of the Bitcoin Cult’. The Baffler, no. 38: 102–11. +* Hayden, Micahel, and Megan Squire. n.d. ‘How Cryptocurrency Revolutionized the White Supremacist Movement’. Souther Poverty Law Center. Accessed 3 March 2022. https://www.splcenter.org/hatewatch/2021/12/09/how-cryptocurrency-revolutionized-white-supremacist-movement. +* Husain, Syed Omer, Alex Franklin, and Dirk Roep. 2020. ‘The Political Imaginaries of Blockchain Projects: Discerning the Expressions of an Emerging Ecosystem’. Sustainability Science 15 (2): 379–94. https://doi.org/10.1007/s11625-020-00786-x. + +*** + ### Ethereum: Peter Thiel wants your data to build a Libertarian utopia -### Is this a bubble? \ No newline at end of file + +**Concepts Referenced**: +* [technolibertarianism](../concepts/technolibertarianism.md) +* [is-hedge-inflation](../claims/is-hedge-inflation.md) +* [gambling](../concepts/gambling.md) +* [private-money](../concepts/private-money.md) +* [is-private-money](../claims/is-private-money.md) +* [recentralization](../concepts/recentralization.md) +* [ethereum](../concepts/ethereum.md) +* [post-state-technocracy](post-state-technocracy.md) +* [is-disrupt-hegemony](../claims/is-disrupt-hegemony.md) +* [blockchain](../concepts/blockchain.md) +* [market-fundamentalism](market-fundamentalism.md) +* [dao](../concepts/dao.md) +* [accelerationism](../concepts/accelerationism.md) +* [is-hyperfinancialization](../claims/is-hyperfinancialization.md) + +**Sources** +* Groos, Jan. 2021. ‘Crypto Politics: Notes on Sociotechnical Imaginaries of Governance in Blockchain Based Technologies’. In Data Loam, 1:148–70. https://doi.org/10.1515/9783110697841-009. +* The Economist. 2022. ‘The Charm of Cryptocurrencies for White Supremacists’, 5 February 2022. https://www.economist.com/united-states/2022/02/05/the-charm-of-cryptocurrencies-for-white-supremacists. + +*** + +### Is this a bubble? + +**Concepts Referenced**: +* [bubble](../concepts/bubble.md) +* [exit-scam](../concepts/exit-scam.md) +* [techno-collectivism](../concepts/techno-collectivism.md) +* [capitalism](../concepts/capitalism.md) +* [is-predatory](../claims/is-predatory.md) +* [anarchocapitalism](../concepts/anarchocapitalism.md) + +**Sources** +* Nolan, Hamilton. n.d. ‘The Ticking Bomb of Crypto Fascism - In These Times’. Accessed 21 March 2022. https://inthesetimes.com/article/the-ticking-bomb-of-crypto-fascism. +* Tante. 2021. ‘The Third Web’. Nodes in a Social Network (blog). 17 December 2021. https://tante.cc/2021/12/17/the-third-web/. +* Varoufakis, Yanis. 2022. ‘Yanis Varoufakis on Crypto, the Left, and Techno-Feudalism’. DiEM25 (blog). 27 January 2022. [https://diem25.org/yanis-varoufakis-crypto-the-left-and-techno-feudalism/](https://diem25.org/yanis-varoufakis-crypto-the-left-and-techno-feudalism/) .[↩](https://www.stephendiehl.com/blog/complete.html#fnref11) \ No newline at end of file