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The cryptocurrency industry spent almost $200 million to influence the outcomes of the 2024 United States elections. Let's talk about where the money came from, where it went, the cryptocurrency industry's political goals, and what’s next.
@molly0xfff@hachyderm.io "average citizen votes over 3 times for bitcoin per year" factoid actualy just statistical error. average citizen votes no times for bitcoin per year. Bitcoin Lehane, who lives in crypto mine and votes over 10,000 each day, is an outlier adn should not have been counted
@molly0xfff @briankrebs I’m sorry, but “industry” is not the appropriate collective noun. “Cartel” or “Organized Crime Syndicate” are better matches.
@molly0xfff Nice roundup.
Can say that again…
@molly0xfff all this excitement over a ledger entry that proves you own something that doesn’t exist.
Buy tulips!
@molly0xfff @jdp23 But yeah, let’s head on over to Bluesky…owned by Blockchain Capital, whose CEO comes from… crypto.
Bluesky’s problematic in a lot of ways and well see how it works out in the medium and long term. Right now, though, it’s by far the best Twitter alternative out there. Of course there’s a lot more to social networking than Twitter alternatives, and there’s a lot of good stuff here in fedi. But then again there’s a lot of racism here so I can certainly see why Black Twitter is going there for now.
@jdp23 @molly0xfff It may be “better” in development, but this meme fits to a T. The same guy helped guide it being built, and cryptocurrency people surround the ownership of it. The attitude of “trust me bro” when it comes to the commitment to privacy of data and community engagement is very Lucy football.
@jdp23 @molly0xfff As far as racism, I can’t comment in terms of BS. But what I can say is that transphobia is already growing there.
Yeah, there's a lot of transphobia and racism there,; their moderation approach is not to ban anybody except for illegal stuff, and hope that blocklists and labelers are enough for the community to protect themselves. LIke I say, Bluesky's problematic in a lot of ways.
But racism and transphobia's pretty bad here too, and while instance blocking is a powerful to deal with it, there are limits as to how effective it is ...
@marti It's certainly not great there, "a Twitter alternative" has all the probelms of Twitter. That said right now I'm seeing a lot more Black trans people active there than here, and I'm seeing a lot of high-profile-on-Twitter white trans people more active there than here. But magas and terms are organizing there so we'll see how well the community defense mechanism hold up.
@marti but for people reestablishing their Twitter networks, starter packs make a huge difference. And ther's a lot of abolitionist organizing; and sex worker Twitter is moving there as well. Of course starter packs are also an abuse vector, so (at least in my option) it's very fragile right now. But I can certainly see why people are going there right now.
Anyhow a long answer ... but at least IMHO the investement from Blockchain Capital, while problematic, is far from the biggest issue!
@molly0xfff as always, you are very well spoken! I just watched, and ive learned stuff!
@molly0xfff most of the money currently being weaponized against the government came from... the government.
i'm actually working on a piece about this underappreciated aspect of the crypto takeover of american politics right now.
and whatever didn't come from the government came from either chinese/russian organized crime via money laundering, offshore gambling, fraud, or drug smuggling (that last one kind of counts as "from the government" to me albeit not to most people).
@cryptadamist @molly0xfff I'd like to read that when you're done.
@MissConstrue @molly0xfff my substack is here: https://cryptadamus.substack.com/
i've already written a lot of it though i have to put out another completed post first, so maybe in ~2 weeks i'll publish this piece (working title: "The Other Road To Serfdom")
@molly0xfff I really thought we were past this shit. sigh.
@molly0xfff This is interesting.
@molly0xfff I thought the crpto bubble burst.
Biden's SEC reinflated the bubble by allowing crypto ETFs and this was how they repaid him.
https://www.sec.gov/newsroom/speeches-statements/gensler-statement-spot-bitcoin-011023
@molly0xfff
And don't forget child trafficking, drug trafficking, and sex trafficking worldwide ...
That's why ANY crypto currency that is backed by nothing, like the US Dollar is, it will be used for corruption, and illegal activities ...
@molly0xfff good points in discussion
Solid rundown. 