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phlakaton • today at 8:22 PM • 0 replies • view on HN

Crypto has been sold many many ways, but most of it is not a stable store of value.

Stablecoins are what are supposed to be stable sources of value, but Zeke Faux's book Number Go Up points out how opaque and unaccountable the companies managing these currencies are. From his reporting, their "tractor app" appears to be not so much farmers in sub-saharan Africa receiving aid payments but criminals looking for anonymous ways to transfer lots of money.