Opinion | Technobabble, Libertarian Derp and Bitcoin


Now, a long-running Ponzi scheme requires a narrative β€” and the narrative is where crypto really excels.

First, crypto boosters are very good at technobabble β€” using arcane terminology to convince themselves and others that they’re offering a revolutionary new technology, even though blockchain is actually pretty elderly by infotech standards and has yet to find any compelling uses.

Second, there’s a strong element of libertarian derp β€” assertions that fiat currencies, government-issued money without any tangible backing, will collapse any day now. True, Britain, whose currency was still standing last time I looked, went off the…

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