What is the real value of cryptocurrencies? Can crypto technology be applied to traditional financial markets? In this episode, we welcome David Gerard, a technologist and author of the books Libra Shrugged and Attack of the 50 Foot Blockchain. He uses his skills as a journalist to investigate the uses and hype around cryptocurrencies and is an outspoken skeptic of the technology. Although not originally from the technology sector, he has become an authority on the topic and has briefed the UK House of Commons Science and Technology Committee on the technology. He also runs a blog covering important aspects of the cryptocurrency space. In today’s conversation, we learn some harsh realities about the benefits of cryptocurrencies and why they will not last in the long term. We learn what the real value of crypto-markets is, why he considers it to be a Ponzi scheme, what needs to change about cryptocurrencies, whether there are any benefits to the technology and the role of financial journalism in the crypto space. Listen as we unravel the political ideology which underpins crypto and whether it can be separated from the technology. We also discuss the outcome of El Salvador’s bitcoin experiment and why it did not work. We also learn the reasons behind the recent crash in some crypto markets and find out which book David thinks everyone should read. Participate in our Community Discussion about this Episode: https://community.rationalreminder.ca/t/understanding-crypto-12/18641 Books From Today’s Episode: Libra Shrugged — https://www.amazon.com/dp/ Attack of the 50 Foot Blockchain — https://www.amazon.com/Attack-50-Foot-Blockchain/ Memoirs of Extraordinary Popular Delusions — https://www.amazon.com/Memoirs-Extraordinary-Popular-Delusions-Madness/dp/1523420529 Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en Rational Reminder on YouTube — https://www.youtube.com/channel/Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on Twitter — https://twitter.com/benjaminwfelix Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore David Gerard — https://davidgerard.co.uk David Gerard Blog — https://davidgerard.co.uk/blockchain/ David Gerard on Twitter — https://twitter.com/davidgerard