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The Audio Long Read

‘The casino beckons’: my journey inside the cryptosphere

The Audio Long Read

The Guardian

Society & Culture

4.32.4K Ratings

🗓️ 22 April 2022

⏱️ 35 minutes

🧾️ Download transcript

Summary

Not all cryptocurrency investors fit the cliches. Many are people looking to somehow claw their way out of a life of constant struggle. Help support our independent journalism at theguardian.com/longreadpod

Transcript

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0:00.0

This is The Guardian.

0:30.0

By Sarah Reznik,

0:32.3

Red by Kelly Burke, and produced by Jessica Beck.

0:36.8

The executive producer is Danielle Stevens.

0:42.9

I can't explain exactly how I ended up on crypto Twitter or

0:47.5

CT as it's known in the crypto sphere and in the crypto-focused telegram and discord groups

0:53.5

I started lurking in late last summer. As a writer, I don't really have a regular beat.

0:58.8

I've occasionally written about fiction and film. I've written on the overlaps between the health and criminal legal systems.

1:06.8

Crypto would not be an obvious story for me to tackle, but there was a bull run going on.

1:12.9

Market confidence was high.

1:15.1

Investors were buying and prices were going up and whenever cryptocurrency values skyrocket,

1:20.6

the corporate press turns up like a kettle of raptors spewing headlines about improbable fortunes.

1:26.8

This mom quit her job to focus on crypto full-time and build generational wealth.

1:32.5

Now she makes around $80,000 per month.

1:35.7

This 33-year-old Dogecoin millionaire is now being paid in the meme-inspired cryptocurrency and continues to buy the dips.

1:44.2

The subject was impossible to avoid and my longstanding if until now private, nerdy interest in the machinery of our

1:52.5

enigmatic financial markets propelled me toward it.

1:57.6

At first I felt a little dirty, a little shameful.

2:01.7

Everyone is in these spaces for one reason, to make money.

2:06.3

It's a subject that remains uncouth to speak about in my wider professional and social milieu.

2:12.7

Soon though, my shame started to interest me.

2:16.2

I stayed a little longer, thumbing through channels on the subway or in bed late at night,

...

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