Daily: The Cryptocurrency Cult

The Bunker – News without the nonsense

Podmasters

News, Society & Culture, Politics, Government

4.6 • 1K Ratings

🗓️ 3 March 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cryptocurrencies have boomed in recent years, but are they here to stay? Amy Castor, an independent journalist whose work focuses on cryptocurrency and financial fraud, talks to Justin Quirk to explain some of the myths around crypto, if e-currencies really can work as an alternative to the normal financial system, and the strange world of NFTs. “Crypto was designed as an e-currency, but it’s mainly used for speculation.” “There is mind-boggling amounts of money going into this space, in the hope more will come in.” “Bitcoin is a cult, there are those who believe it will save people in Argentina.” “The people that will lose in this are the unsophisticated investors who join the game too late.” “Those who invested in Bitcoin in November have already lost half of their investment.” https://www.patreon.com/bunkercast Presented by Justin Quirk. Group Editor: Andrew Harrison. Lead Producer: Jacob Jarvis Producers: Jacob Archbold and Jelena Sofronijevic. Audio production by Jade Bailey. THE BUNKER is a Podmasters Production Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:55.3	look after theirs with dental life. Pick up dental life in the pet food aisle. Hello and welcome back to the bunker daily I'm Justin Quirk. Back in 2009 the Bitcoin network was created. By late
1:16.6	2021, Time magazine reported that the global cryptocurrency market was now worth more than $3 trillion
1:22.4	and had roughly quadrupled from its valuation
1:24.9	just a year earlier. Just this week the Financial Times reported that Blue Chip investors
1:29.6	are piling into crypto groups. Seen by some as a utopian alternative to the global
1:34.8	financial system and by others as a hugely volatile scam,
1:38.5	cryptocurrency remains mired in confusion and uncertainty, but is it here to stay?
1:43.2	Joining me today to help unpick the subject is Amy Kaster.
1:46.4	Amy is an independent reporter focused on cryptocuracies and financial fraud whose work
1:50.6	has appeared in Forbes, Business Insider, and Bitcoin magazine, among others.
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