Ben McKenzie

It's just the second part.

That's the bullshit part.

The first part is true.

The first part is if crypto serves any functions to highlight the myriad failures of a regulated system and hopefully should encourage us to fix that system.

I would say no, and for a couple of reasons.

The first is...

when they say they can create a trustless money, when they say they can create a money that doesn't need human trust, but only relies on computer code, that itself is a lie.

Because computer code doesn't fall from the sky.

People write computer code.

That's how it works.

I mean, I guess with AI, you could intro a prompt, and then the AI writes it.

But at least for now... It's a different set of problems and trust issues.

AI is running our money.

We're fucked anyway.

So let's just be honest with you.

But like...

And a great example of that point, of the fact that code is written by people and therefore it's a fallacy to say that you could just replace people with code, is FTX and Sam Bankman Freed.

Because the way Sam ran his con, we later learned, was he instructed one of his lieutenants to change the code, the source code inside of FTX.

So that his other company, Alameda, could quote unquote borrow against his customers' assets, steal their money.

So it was very simple.