Jared Moskowitz and Zeke Faux: Scams Galore
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What are the biggest crypto scams of the Trump era?
Great. Thanks for having me on, Tim. Dude, thanks for doing this. I'm obsessed with this. I'm of the view that the crypto scams will probably be a top three to five story of the Trump years when all is said and done. And I think that a lot of the media outlets don't give this quite as much attention because the demographics of the news consumers don't overlap with the crypto world much. A lot of them don't really even understand it. And then a lot of the people in the journalist world... have such contempt or just like culturally or separate from the types of folks that are really into crypto. And so it leads to like not getting ignored. And obviously you're not ignoring it, but I'm wondering if you kind of agree with my assessment of, obviously I would assume you agree that this is undercover. It's your beat. I'm wondering what you think about that, about my assessment for why. Yeah.
Definitely. I mean, the crypto guys are very good at making it seem like they have a lot of jargon. They make it seem like there's some sort of really complicated and important technology that we're talking about. And it makes you think in the back of your mind, if you don't know that much about this, or even if you do, you're like, it can't possibly be as dumb as it sounds, could it? And the answer is yes.
And in fact, it's even dumber. Yeah. Okay, so I want to do just a little bit of Crypto 101 for our listeners that don't follow this stuff. But if this brief Crypto 101 lesson isn't enough, you did Chris Hayes' Why Is This Happening pod a couple weeks ago, and it was like 45 minutes of Crypto 101. It was really good. So I direct people to that.
How does cryptocurrency work and what are meme coins?
if they don't get enough but um at its basic level right like there's cryptocurrency then there's bitcoin which is you know the most famous or whatever the most renowned but then there are all these other coins so you just kind of explain to people how all these kind of terms interact with each other
So the original idea for Bitcoin, the first cryptocurrency, was that this would be a alternative to regular currencies like the dollar or the yen. And the big innovation was that instead of being tracked by a central counterparty like a bank, there would be this decentralized network of computers that would keep track of this new currency. Now, that was 15 years ago. Bitcoin is as old as WhatsApp or Uber. And this idea of it becoming an alternative currency is largely dead. No one's really using it for that. But instead, there's been this proliferation of other cryptocurrencies. And at this point... Most of them are not meant to be like dollars. They represent all sorts of different things.
So some of them are kind of like stocks where if you buy a share of this, you buy a coin, you're almost like buying a share of some sort of company. Other times, it's like a new... network like ethereum or solana where it's like a place where people are creating other crypto things and when you buy one of those coins you're kind of buying into the network and you get a share of its profits so that's almost like buying into like a crypto bank kind of right like it's like it's like investing in a stock for a bit or an exchange or a bank essentially
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Chapters
8 chapters
1
What are the biggest crypto scams of the Trump era?
0:59–2:30
2
How does cryptocurrency work and what are meme coins?
2:30–11:03
3
What is Trump's involvement with meme coins?
11:03–20:05
4
Who are the key figures in Trump's crypto circle?
20:05–35:07
5
How does the US government relate to cryptocurrency regulation?
35:07–37:12
6
What are the implications of a Bitcoin Reserve policy?
37:12–38:45
7
How do international events intertwine with crypto and politics?
38:45–48:41
8
What is Jared Moskowitz's take on Trump and Ukraine?
48:41–59:15
Speakers
7 identifiedMore from The Bulwark Daily
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