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Tech moguls want to build a crypto paradise on a Native American reservation
(www.motherjones.com)
this post was submitted on 10 Jun 2025
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Because they want to build and experiment without all the red tape. Of course they do and people have to relearn why regulations are written in blood.
They hate the FDA, but one of the reasons it exists was because some folks sold radioactive beverages, mascara that caused blindness, a bunch of snake oil and medicine that killed people and/or caused deformities.
Adventures with financial deregulation and crypto haven't been much better so far.
BTC is useful though.
It's very easy to judge from the EU, but if you are in Russia and need to pay for something in the interwebs, it's very convenient to have an imperfect, but kinda functioning system like this.
(Idiots replying with "go rebel" or "change location" need not bother, I happen to have family, friends, dog, ASD and BAD, my sister who's on my support every time she makes a planning mistake can change location, I can't. I'm also not a Jedi chosen one to have useful options of "rebelling".)
BTC also uses massive amounts of resources, and we have an impending climate crisis on our hands. Tell me, how is that useful to further the climate destabilization for whatever momentary convenience you think you have. We're gonna be really sorry in 5-10 years as this thing accelerates. We are getting some seriously bad news in the scientific community right now bcz we are far outpacing even the most pessimistic studies on warming and CO2 output. We have dumbasses in charge who want to pretend climate change doesn't exist.
There are other cryptocurrencies without the overhead of bitcoin. Bitcoin is actually a really shitty implementation in regards to efficiency.
Cryptocurrency as a concept is incredibly useful and as time goes on it will likely be how most business is done.
Governments just aren't as good at regulating currency as computers. Look at inflation on the US dollar.