Is Crypto Bullshit?

Source: Model Citizen
by Will Wilkinson

“[W]ithin my social/intellectual circles, the dominant view seems to be that Bitcoin amounts to climate terrorism in the service of tulip mania, that NFTs are a pyramid scheme, and the main crypto use case is crime-enabling asset concealment and money laundering. … Until recently, I was skeptical of the whole deal, too. However, a few of my best and smartest friends are deeply into crypto stuff and know more about it than I do. One of my personal epistemic precepts is that if I disagree with somebody who is (a) at least smart as I am, (b) has generally sound judgment and (c) is better informed on a subject, then I ought to concede that I’m probably wrong and revise my opinion in their direction. The trouble is, I also know plenty of people who satisfy all these conditions but think crypto is unmitigated bullshit.” (11/22/21)