In this issue:

• Nobody outsmarts the market

• Visa makes a terrible Bitcoin (and vice versa)

• Justin Bieber is not a bargain shopper

Frank Fumarola @ffumarola

@knifefight This article is calling your name Cryptocurrency Is a Giant Ponzi SchemeCryptocurrency is not merely a bad investment or speculative bubble. It’s worse than that: it’s a full-on fraud.jacobinmag.com

February 1st 2022

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Nobody outsmarts the market

This week progressive magazine Jacobin Magazine published an op-ed calling on governments to ban cryptocurrency for the good of the land. This isn’t Jacobin’s first foray into crypto — previous examples include balanced perspectives like "The Dumb Money" or "Cryptocurrency is bunk." In fact, Jacobin has been rewriting and republishing the same basic complaints about crypto since 2015. Don’t get your investment advice from socialists.1