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RoseTrellis

(19 posts)
Mon Jul 21, 2025, 01:04 PM 21 hrs ago

Progressives are losing the crypto future

I’ve been interested in the concept of crypto since 2017, and while I’m aware some people consider it equivalent to Tulips and dismiss it out of hand, but this article talks about how that may put us on the sidelines as it is more widely accepted and adopted…

https://cointelegraph.com/news/progressives-are-losing-the-crypto-future

“ When US President Donald Trump called for America to become “the crypto capital of the planet,” he acknowledged a growing sentiment among his supporters. Crypto is no longer simply an asset class or subculture to this group; it’s a parallel financial system being shaped by tech-savvy conservatives for political and economic ends.

Political campaigns now use crypto as core fundraising infrastructure. Conservative lawmakers, strategists and donors use it to reshape decisions, particularly in places with fewer regulations. This has created an environment shaped by right-leaning values, with progressives essentially sitting it out.

Crypto-aligned political action committees (PACs) and donors poured more than $14 million into the 2022 midterms, according to OpenSecrets. Pew Research shows that 25% of Republican-leaning men report crypto investments, compared to just 16% of their left-leaning peers.

Why do so many liberals remain indifferent to crypto despite the widely publicized narratives of conservatives turning it into a tool of political power? Most blockchain projects still lead with flash over function. Risk aversion, optics and a lack of internal alignment on digital assets have kept many progressive organizations away. Many liberals prioritize equity and systemic reform and see profit motives with skepticism, a view that has grown as progressives have pushed the Democratic Party further left.”

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efhmc

(15,717 posts)
1. Nope, I give my 21 and 22 year old gsons cash for presents with the only caveat on the money is that they not do crypto.
Mon Jul 21, 2025, 01:08 PM
21 hrs ago

Hugin

(36,628 posts)
2. The article lost me at tech-savvy conservatives...
Mon Jul 21, 2025, 01:18 PM
21 hrs ago

Yet another oxymoron.

There's nothing "tech" about crapto. It's a means without an end. Ultimately, it's a resurrection of the so-called carry trade or in biblical terms, money changers. They've missed it since the EU was formed.

It's weakness is displayed in grand terms on every financial page where it's value is stated in Dollars. Why not just have Dollars? Because, you have to fricking work for Dollars.

The biggest fight on crapto is yet to come. There can be only one and it won't be the one most people have.

Stablecoin? It's yet another in a long line of empty buzzwords thrown around in boardrooms by people who are more interested in using buzzwords than whatever it is that company actually produces.

Think. Again.

(22,412 posts)
3. Oh no! should we "ACT NOW!" or risk losing out on this once in a lifetime DEAL!?
Mon Jul 21, 2025, 01:25 PM
21 hrs ago

Do the phone lines close in 10 minutes????

Should we WAIT! THERE'S MORE!

Are SUPPLIES GOING FAST !?!?!

NewHendoLib

(61,246 posts)
4. the latest snakeoil, mostly used for nefarious means, and brutal on our environment
Mon Jul 21, 2025, 01:28 PM
21 hrs ago

I have an Ivy league PhD (chemistry) and still have no idea what it actually is. Talk about voodoo economics!

Jacson6

(1,435 posts)
5. A financial problem such as a depression or recession will kill cyrpto.
Mon Jul 21, 2025, 01:32 PM
21 hrs ago

It's only a matter of time.

Melon

(583 posts)
7. Why is crypto a political issue or led by one party?
Mon Jul 21, 2025, 01:53 PM
20 hrs ago

It seems like purely a financial decision. I bailed out on a smaller investment many years ago that now would be worth 100’s of thousands of dollars. It was a serious mistake. I know that all of these small coins are just fads, but I don’t see Bitcoin going away. By choosing to make it political, some people are just missing out on huge investment gains. You can lose money of course, but you can in other areas as well.

hunter

(39,671 posts)
8. I don't want to live in a nation that takes crypto seriously.
Mon Jul 21, 2025, 11:52 PM
10 hrs ago
Pssst.... Hey bro, you wanna buy a magic number?



We already know we live in a nation of fucking morons. Look at our president. Look at our Congress.

Let's not make it worse.

We're not going win anything if we play their stupid games because they have a lot more practice.



KentuckyWoman

(7,130 posts)
9. Crypto
Tue Jul 22, 2025, 12:22 AM
10 hrs ago

The preferred currency of terrorism, organized crime, and financing dictatorships.

Yes, I know that's changing but I feel like it's similar to the local gang boss financing a rec center.

LudwigPastorius

(12,968 posts)
10. The so-called GENIUS Act has some good parts (requiring liquid reserve for all stablecoins issued), but...
Tue Jul 22, 2025, 01:03 AM
9 hrs ago

this* was bullshit.

*All stablecoin issuers must possess the technical capability to seize, freeze, or burn payment stablecoins when legally required and must comply with lawful orders to do so.

It basically makes the government capable of disappearing your assets if it deems you a criminal. No chance THAT will be abused! Right?

fujiyamasan

(480 posts)
11. I think the volatility and still limited use cases scares many older folks away
Tue Jul 22, 2025, 01:18 AM
9 hrs ago

And Trump’s embrace automatically sours it for many others on the left. Not to mention, his coin is pretty much a meme (aka shit) coin, which is basically used as a pump and dump.

The biggest hurdle for most progressives in embracing crypto is likely the energy usage for mining btc. You can’t get around it.

I own an ETF with some Eth and btc exposure as a very limited part of my portfolio. I’m open to more volatility than most here. I really doubt those two are going away anytime soon. There are some other interesting projects going on, such as XRP and a few others. But it’s a minefield and a playground for kooky libertarians for the most part.











Buns_of_Fire

(18,598 posts)
13. When my landlord accepts Whatevercoins for the rent, the grocery store accepts
Tue Jul 22, 2025, 02:42 AM
8 hrs ago

Whatevercoins for my groceries, the power company accepts Whatevercoins for my electricity, and the water department accepts Whatevercoins for my water, I'll give them another look. Until then, they're just a repository for discretionary cash, which may go up or may go down in value, like my stock holdings (which my landlord won't accept for the rent, either).

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