This week, Dan Olson, creator and host of YouTube channel Folding Ideas, returns to continue the conversation on cryptocurrency and NFTs. They discuss how these bubbles are driven primarily by charismatic leaders, why success rates of investment are similar to MLMs (read: the vast majority of investors don’t win big), and how there’s a lot of shame around having lost money in this arena–but why more men should come forward with their stories.

Dan explains why there’s no inherent difference between scam cryptocurrencies and so-called “real” cryptocurrencies, since all are rooted in speculation and faith, where the line is between greed and just being a victim of American prosperity gospel, and what to look out for to prevent yourself from getting scammed.

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This week, Dan Olson of the YouTube channel Folding Ideas joins the show for a deep dive into crypto, NFTs, and why so many of these spaces start to feel less like finance and more like belief systems. He breaks down the history of Bitcoin, what cryptocurrencies actually are, and how NFTs exploded into the mainstream, with investor communities promising not just wealth, but destiny–as long as they suppress their doubt and stay in line.

They discuss the gender divide and whether crypto is MLMs for men: same promises of prosperity, different packaging. Plus, some of the insider jargon and acronyms used to shut down skepticism, and how it all added up to a financial technology becoming a social identity.

And stay tuned for part two next week, when Dan will zoom in on the role of charismatic leaders in driving the decision-making.

SOURCES

Folding Ideas

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This week is part two with Liz Cameron, author of Cult Bride and survivor of Korean religious group Jesus Morning Star, also known as JMS. Last week she discussed the slow process of indoctrination into the group, and this week Liz shares how she learned the community's deepest secret: the mysterious Pastor Joshua was actually named Jung Myung-seok, but he was REALLY the Second Coming of Jesus. And yes, he was currently sitting in prison in South Korea for committing sexual assault… but don’t worry, that was just because of persecution.

Liz explains how all the carefully planned indoctrination leading up until this point primed her to be able to accept something like this, how she’d been identified to be one of the brides of the leader, what happened when she traveled to Korea to meet him in person, and how the eating disorder re-triggered by the group landed her in the hospital—but ultimately helped her get out of the group.

SOURCES

Cult Bride

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