What's the connection between the far right and crypto?

[ProgressiveModerate]

I've noticed on platforms like X, Reddit, and Instagram, there are a lot of far-right accounts (White Supremacists and Eugenicist types) that also are heavy in promoting Crypto. In many cases, Crypto is the only remotely economic thing these accounts discuss.

I understand why Crypto would be associated with more right-wing politics generally - a currency independent of the Government. However, generally Crypto isn't discussed or is frowned upon on the mainstream right; even Trump himself bashed it.

Why has Crypto become an obsession of many on the far right?

[dead0man]

1.a lot of these specific crypto coins are a scam, people with few ad options are more likely to have to use "scammy" places to get ad revenue
2.most of the crypto hate comes from the left, and you know how tribes are
3.at least it's not another ad for online mental health care (not there is anything wrong with the it, just hear them allthedamntime)


edit-3 might make it sound like I hear crypto ads, I do not.  I do not recall the last time I heard a crypto ad.

[wnwnwn]

There are some conspirancies on the Federal Reserve.

[dead0man]

There are some conspirancies on the Federal Reserve.

indeed, and certainly some "Jews control the banks" racism in there too

[mileslunn]

Crypto appeals to your conspiracy crackpots which you have a lot of on far right.  Many who are Anti-Semitic see it is not controlled by government and believe in conspiracies Jews secretly control federal reserve and global currency.  True Anti-Semitism nowadays quite bad on left, but while two equally vile they are that for very different reasons.  Left sees Israel as a colonial oppressor (it is not but that is how they see it) and associate all Jews with Israel.  Far right hates people not like them and believe in all the odious conspiracy theories. 

[Samof94]

Crypto appeals to your conspiracy crackpots which you have a lot of on far right.  Many who are Anti-Semitic see it is not controlled by government and believe in conspiracies Jews secretly control federal reserve and global currency.  True Anti-Semitism nowadays quite bad on left, but while two equally vile they are that for very different reasons.  Left sees Israel as a colonial oppressor (it is not but that is how they see it) and associate all Jews with Israel.  Far right hates people not like them and believe in all the odious conspiracy theories. 

The far right always associates Jews with banking and assumes they have more power than they do.

[Vosem]

I am a member (have attended meetups and such) of an organization whose ideology is that people with common values, particularly ideological or religious values, should use DAOs (decentralized autonomous organizations) to coordinate moving to particular cities, then lobby those cities to officially use a currency issued by that DAO, and then control those cities through monetary policy.* People involved in the movement have a wide array of ideologies they want to see promoted (including some far-left ones; transgender people are very overrepresented), but it is most commonly some flavor of far-right. (Let a thousand Zionisms bloom!)

I think advocating for crypto kind of obviously means having a very materialist view (you probably think making lots of money is good, to care deeply about what the money should be), but less obviously it has a streak which is anti-majoritarian ('we can create our own society which will influence everyone, regardless of how people vote') and a streak which is strongly utopian, and in the 21st century utopian worldviews are much more common on the far-right than the far-left.

A global meetup of organizations at least sort of in alignment with this vision was held in Amsterdam last year; there is a lot of diversity on specifics because the whole point is that this is meant to promote all ideologies, but you get some common themes.

*Not everyone would endorse every detail of that, and you could simplify it to 'people should organize themselves to create new strongly ideological societies', but most of the suggestions for those societies would involve cryptocurrency or blockchain in some way as part of the governing mechanism.

[Santander]

dead0 sums it up well. This is the next logical step from the far-right and gold.

[HisGrace]

"Four simple words that have been whispered since the time of the Romans-

Fortune favors the brave"

- Matt Damon

[Absentee Voting Ghost of Ruin]

Why has Crypto become an obsession of many on the far right?

Both are scams targeting those incapable of critical thinking.