It's too flimsy, you can't buy anything with it, and it's very unstable. Numerous accusations have been made against cryptocurrencies such as Bitcoin over the years. But is it racist? That seems to be the view of Kamala Harris, the Democratic candidate for president of the United States. In fact, her crypto plan is just weird. That's worrying for someone who may soon be in the White House.
The vice president announced a series of policies yesterday aimed at helping black men, a key group of voters who are showing worrying signs of leaning toward rival Donald Trump. It included pledges to improve health care, education, and legalize marijuana, perhaps because he believes black men smoke a lot of it. It also included a pledge to “protect investments in cryptocurrencies to let Black men know that investing in cryptocurrencies is safe.”
Why do black men in particular need cryptocurrency protection?
Seriously? There are two strange things about Harris' pitch to black men. To begin with, plans to protect cryptocurrencies are completely opaque. The important thing about Bitcoin, Ethereum, and all other web-based cash is that they are completely unregulated. Any system designed to protect investors will either become completely meaningless or end up costing the government billions of dollars in compensation. Investments are inherently risky and cannot be “protected.” That's the whole point.
Second, why do black men in particular need crypto protection? Harris' plan seems to suggest that they are somehow uniquely vulnerable to crypto fraud, but there is no evidence whatsoever for that argument. , and may be somewhat racist. It doesn't make sense unless she has a plan to bail out black women, Hispanics, not whites, and black men when their investments fail.
In reality, this policy is just weird. Harris is a formidable campaigner and has proven to be a much better candidate than her disastrous record as vice president. But many of her ideas are disjointed, which suggests she'll make a very poor president, even if a black man doesn't have to worry about Bitcoin while she's in the White House. .
