Crypto Is Like a Ponzi Scheme, Says Stephen Diehl

The video discusses the skepticism surrounding cryptocurrencies, highlighting their speculative nature and potential negative impacts. It examines the lack of practical use cases, especially in authoritarian regimes, and questions crypto's effectiveness as a store of value. The discussion also touches on regulatory actions needed to ensure compliance with existing laws.

What are the negative externalities associated with crypto coins as mentioned in the text?

How does the author argue that crypto fails as a hedge against authoritarianism?

What is the author's perspective on the use of crypto as a store of value in emerging markets?

In what ways does the author compare crypto investments to Ponzi schemes?

What actions does the author suggest Washington should take regarding crypto regulation?