FCC head Ajit Pai has always been the scumbag hiding in plain sight. While his weasel-like nature may have never been in question, this week’s sneak attack on net neutrality put to bed any doubt.
After assuming his final form as Satan, Pai effectively killed the internet as we know it while we stuffed our face with dry turkey and store-bought pumpkin pie.
But while we discuss internet fast lanes and paid tiers that prioritize Comcast-owned Hulu over Netflix, we haven’t really even begun to discuss the consequences on a macro-level.
What, for instance, does this mean for cryptocurrencies like Bitcoin?
As Marvin Ammori, lawyer for the advocacy group Fight for the Future told Motherboard:
The average person goes to Coinbase to buy Bitcoin, Ethereum, or Litecoin—the average on-ramp is an exchange, and those are easy to block. If Comcast is the monopoly provider in an area, the provider could decide there’s a preferred Bitcoin exchange.
Let’s break this down. From this statement alone — which is strictly hypothetical at this point — we can already spot a mountain of problems for Bitcoin, Ethereum, and countless others.