The cryptocurrency industry spent almost $200 million to influence the outcomes of the 2024 United States elections.
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The cryptocurrency industry spent almost $200 million to influence the outcomes of the 2024 United States elections. Let's talk about where the money came from, where it went, the cryptocurrency industry's political goals, and what’s next.
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@molly0xfff 200 mil is around 2040 BTC. It doesn’t sound so bad in those terms…
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@molly0xfff @jdp23 But yeah, let’s head on over to Bluesky…owned by Blockchain Capital, whose CEO comes from… crypto.
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Bluesky’s problematic in a lot of ways and well see how it works out in the medium and long term. Right now, though, it’s by far the best Twitter alternative out there. Of course there’s a lot more to social networking than Twitter alternatives, and there’s a lot of good stuff here in fedi. But then again there’s a lot of racism here so I can certainly see why Black Twitter is going there for now.
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@molly0xfff
Good presentation, but I’m not understanding when you say the crypto industry is dumping millions into politics - they aren’t dumping crypto are they? They’re using dollars. How are they getting those dollars? I’m not incline to much faith in a currency that is useless even in a bribe although maybe I’m missing something not being a crypto fan. -
@Corvair65 It was a mix of dollars and direct donations in crypto.
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@jdp23 @molly0xfff As far as racism, I can’t comment in terms of BS. But what I can say is that transphobia is already growing there.
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Yeah, there's a lot of transphobia and racism there,; their moderation approach is not to ban anybody except for illegal stuff, and hope that blocklists and labelers are enough for the community to protect themselves. LIke I say, Bluesky's problematic in a lot of ways.
But racism and transphobia's pretty bad here too, and while instance blocking is a powerful to deal with it, there are limits as to how effective it is ...
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@marti It's certainly not great there, "a Twitter alternative" has all the probelms of Twitter. That said right now I'm seeing a lot more Black trans people active there than here, and I'm seeing a lot of high-profile-on-Twitter white trans people more active there than here. But magas and terms are organizing there so we'll see how well the community defense mechanism hold up.
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@marti but for people reestablishing their Twitter networks, starter packs make a huge difference. And ther's a lot of abolitionist organizing; and sex worker Twitter is moving there as well. Of course starter packs are also an abuse vector, so (at least in my option) it's very fragile right now. But I can certainly see why people are going there right now.
Anyhow a long answer ... but at least IMHO the investement from Blockchain Capital, while problematic, is far from the biggest issue!
