Dave Troy
1 min readFeb 17, 2022

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I don’t have any problem with the technology as long as it 1) doesn’t turn into a massive Ponzi scheme that harms people (and which should be illegal for the same reasons that Ponzi schemes are),

2) isn’t used as a weapon of war by our adversaries at a time when we are insufficiently prepared to counter it,

3) doesn’t erode democratic governance of our economic sovereignty.

I’ve made all this clear. I evaluated bitcoin and doge as far back as 2013. I deemed them impractical and interesting but not useful. So far the only real use cases have been as Ponzi schemes and weapons of war and I oppose those use cases. I’m financially secure and have been for 20+ years; I don’t need a Ponzi scheme to become successful but I know others do.

My suggestion would be to step back from this so that when it collapses fewer people are harmed, and any useful aspects of this episode can be revived after the war.

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Dave Troy
Dave Troy

Written by Dave Troy

Investigative journalist addressing threats to democracy. Public speaker, writer, podcaster. @davetroy on Twitter. See davetroy.com for contact info.

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