Bitcoin Wasn’t Supposed to be a Hedge Against Inflation

Douglas Rushkoff explains how speculators prevent crypto from working as a safe haven.

Crypto’s astonishing, if short-lived success as a speculative investment has only undermined its entirely more revolutionary function as a currency alternative. Built to replace greed and obfuscation with access and transparency, the blockchain succumbed to the very financial avarice it was intended to counteract.

Now that investors have lost faith in the blockchain as safe “bet,” those of us interested in its true utility value may just have more of a chance to steer how this technology is used. Unless you’re looking to make money with money, a stable bitcoin will serve you better than an expensive one.

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