I read the news that Facebook is launching its own cryptocurrency and couldn’t help but laugh. Dear reader, don’t fall for the scam. Cryptocurrency is fiat currency, just like good old US dollars, but unlike with US dollars there’s no central bank to guarantee that sudden dips in value don’t become downward spirals of doom. The only unique value proposition I see in cryptocurrency is the ability to anonymously purchase goods from online drug marketplaces like the original Silk Road. I don’t currently own any coins (or shares in coins) of any cryptocurrency, and I can’t imagine any circumstances in which that would change.

Boys and their toys, amiright?