The cryptocurrency industry has been working overtime to sell a story: that there is a large contingent of voters voting based on candidates’ crypto policy stances. The problem is, it’s a story that does not seem to be well supported by data.
https://www.citationneeded.news/when-did-cryptocurrency-become-a-voter-issue/
An April 2024 survey funded by the Digital Currency Group and published by the crypto lobbying group The Blockchain Association was not shy about aiming its messaging directly at politicians, trying to convince them of the existence of a sizable crypto voting bloc.
A glance at the survey design quickly reveals the story the industry was hoping to tell with the results. Even more profound are the kinds of questions that were not included, which could have provided a clearer (but perhaps unwanted) view of voters’ actual beliefs.
Furthermore, the supposed number of crypto holders (“52 million”!) that companies like Coinbase like to throw around come largely from a poorly-designed survey with methodology its designers seem unwilling to disclose, and are vastly higher than other estimates.
Regardless of the caricatures that have emerged, most cryptocurrency holders are pretty normal people, with nuanced political beliefs and hopes for the future that go far beyond the tokens they hold in their digital wallets.
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@molly0xfff and they are all going to want an FDIC-type bailout when it crashes and burns
sorry, cypto is a ponzi scheme and i don't want tax money going to bail them out for any reason
@molly0xfff Of course, crypto is increasingly the ONLY way for Russian individuals and companies to complete purchases with China, etc.
A recent article says that about 80% of Russian transactions to China in yuan are blocked now, due to Western pressure and a crackdown on smaller banks, based near the border. As long as Russian crypto exchanges remain a thing, crypto itself is at significant risk of disruption.
It’s also worth noting that another Coinbase contribution of $500,000 on March 20, 2024 to the Congressional Leadership Fund (the committee supporting House Republicans) may also fall within the prohibited time frame.
@molly0xfff Tales From the Crypt-ocurrency" ?
Crypt O'Currency, my Irish uncle...
I'm here all night - thanks, OK, I'll see myself out...
That the type of politicians actually courting crypto types are the same ones who think finance in general should be less regulated and are beloved by billionaires should give anyone with any remaining hope in crypto pause.
Really it should've died after Silk Road did. It's just speculative circle jerk looking for a bigger sucker to be left holding the bag. Day trading for people who own multiple Funko Pops.
Cryptocurrency isn't a voter issue. It's a billionaire issue being pumped up in a funded malign influence campaign.
Billionaires want cryptocurrency for a number of reasons.
Scams. Money laundering. Tax evasion. Threat funding for domestic terrorism. Disinformation campaigns. Covert cash for coup attempts. Keeping the globe hooked on the oil.
Fiat money is terribly attractive to anti-democracy billionaires. When it crashes, it'll make 1929 look trivial.
https://www.warren.senate.gov/newsroom/press-releases/at-hearing-warren-calls-for-strong-anti-money-laundering-protections-to-prevent-cryptomines-from-undermining-us-national-security
@molly0xfff I’ve been in crypto since 2.22.20.
I would crawl naked over hot coals to vote for Kamala. Not so much because I’m all-in for her, I’m not. All because, I’m against Trumpers.
Tangential, but I see that image as "bitcoin as garbage being dropped in a trash can."
Which is, in fact, a more appropriate interpretation than a vote going into a ballot box.
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