# 153 - Why Crypto is Underrated with Tyler Cowen

*Author: Ryan Sean Adams, David Hoffman*
*Published: Jan 16, 2023*
*Source: https://www.bankless.com/fr/153-why-crypto-is-underrated-with-tyler-cowen*

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In today’s episode, Tyler shares why he thinks regulators should pause and wait before passing crypto regulation in the wake of FTX, how FTX and Enron are similar, why he calls himself a crypto-hopeful (even though he thinks Balaji’s Network State idea is utterly wrong). And finally, we play Tyler's favorite game—Overrated vs. Underrated—about everything relevant in 2023: Crypto AI, Inflation, America, China, Social Media, Wealth Inequality, and more.

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### TIMESTAMPS
0:00 Intro

6:10 Tyler’s 2023 Crypto Thoughts

6:50 Why Crypto is Confusing

9:04 Is Crypto Overrated? 

10:25 Is Crypto Worth it? 

12:19 Regulation

19:33 On-Chain Privacy, Taxes, Surveillance 

24:00 FTX vs. Enron 

27:35 Wealth Inequality 

32:05 Crypto Regulation vs. Innovation

34:48 Can the U.S. Choke Crypto? 

36:24 Crypto vs. the Internet

37:56 Whose at Fault for FTX?  

40:00 Crypto Self-Regulation

45:16 A.I. Regulation

46:46 A.I.’s SBF Moment?

48:05 Is the Future Closer than it Appears?

50:31 Human Self-Regulation

51:16 Economists & Crypto 

53:20 Vitalik

54:16 Free Markets & Greed

55:21 Overrated vs. Underrated

1:00:24 Balaji’s Network State  

1:01:47 Banks

1:02:15 Closing & Disclaimers

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#### RESOURCES
- Tyler on Twitter
[https://twitter.com/tylercowen](https://twitter.com/tylercowen)
- Tyler’s Blog
[https://marginalrevolution.com/](https://marginalrevolution.com/)
- Tyler’s Podcast
[https://conversationswithtyler.com/](https://conversationswithtyler.com/)
- Beware the Dangers of Crypto Regulation [https://www.washingtonpost.com/business/beware-the-dangers-of-crypto-regulation/2023/01/03/27f6f31a-8b63-11ed-b86a-2e3a77336b8e_story.html](https://www.washingtonpost.com/business/beware-the-dangers-of-crypto-regulation/2023/01/03/27f6f31a-8b63-11ed-b86a-2e3a77336b8e_story.html)