6 Questions for Rachel Siegel of Crypto Finally

by Editorial Staff 4 min February 28, 2020
6 Questions for Rachel Siegel of Crypto Finally - Cointelegraph Magazine
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Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!

Each participant then gets to remove one blockchain question — and a personal one — and they can substitute in two of their own for the next victim.

This week’s guest is Rachel Siegel of Crypto Finally, a tireless advocate for the blockchain space who pushes for mass adoption through targeting millennial audiences with her entertaining focus on common consumer culture. She was recently featured on MTV’s True Life Crime: The $5 Million Hack, which was the network’s first broadcast about cryptocurrency.

Rachel has also appeared in over 50 media outlets including The Independent, Bloomberg, Fox Business, The Next Web, Yahoo Finance, Cointelegraph and NewsBTC. She was previously a host of Bitcoin Center’s NYC Satoshi Square, which has been featured on Netflix’s Banking on Bitcoin.

As well as the music videos on YouTube, Rachel posts educational content – such as this pointed discussionof mainstream media portrayals of cryptocurrency.

1 – What has been the toughest challenge you’ve faced in our industry so far?

The toughest challenge I’ve faced in my time in cryptocurrency is definitely the perception of what it means to “be in cryptocurrency” – I don’t do technical analysis, I’m not a trader or a miner, I’m not a developer and I don’t want to read every whitepaper.

I do however love looking at the cryptocurrency community as a catalyst for growth and adoption of technology. My primary focus is zeroing in on the way that the community has been portrayed and perceived from the outside, via sources such as social spaces, television, movies and music. This type of research is new to our community, as anecdotal evidence of cryptocurrency is just beginning to hit the mainstream over the last few years.

New people will enter the space, things will continue to change, this will be an uphill battle and we won’t all be mathematicians – but diversification of skill sets matters here, especially when looking at something so vast as global adoption.

2 – What do you drive… and what would you drive (or what other mode of transport would you use) if you had no restrictions on your choice?

I do not have, nor have I ever actually had, a drivers license. That being said I want a really sweet RV. Addendum: I do have a forklift certification.

3 – What does ‘inclusion’ in the blockchain industry mean to you?

Inclusion in the blockchain industry means making space for others to feel comfortable here. This means respecting varying skill sets, understanding that we come from different backgrounds, and not bringing preconceived notions of what a “tech space” looks like. We need to be able to see the industry grow and accept inclusion before we will actually be able to achieve it.

4 – If you were to retire today with $5M in liquid assets, what would you do with your time?

I’ve always wanted to live a nomadic lifestyle, I would spend some time traveling and meeting communities outside my own. I’m passionate about stories and perspectives, especially right now on the ground floor of something like Bitcoin.

I’d love to create a collection of portrayals and stories about the way that Bitcoin has been perceived over time, an example moving forward on the way that social spaces and pop culture affect emerging tech spaces. I know I was supposed to say donate half or live on an island but I’m only in my 20’s and if I retired today I’d have a long time to sit on a beach.

5 – What you think the biggest scam in crypto is right now

I think one of the biggest scams in crypto has been hiding in the shadows for a while. It’s not quite as explicit as an x for xx scam, a pump and dump scheme, or shilling a bad coin.

It’s the concept that people who do technical analysis must be making good trades and the subsequent assumption that they have the language to teach you how to trade and make money. I believe that this is one of the most dangerous things for newcomers to be exposed to.

As someone who might not understand cryptocurrency, it can be incredibly tempting to have your favorite influencer promise you a parabolic run. You might even be so excited about it you put your whole savings into whatever coin was sponsoring the podcast that day. I believe that the lesser-known evils of this space will begin to surface as we grow as an industry.

6 – If you could have a conversation with anyone dead or alive, who would it be?

Has anyone been asked this question in past articles? Did everyone say Satoshi Nakamoto?

Rachel chose to replace questions 4 and 5 … so next week we’ll ask:

If you could have any career you wanted, what would you be doing?

What are you personally doing that’s unique in the blockchain space?

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Editorial Staff

Cointelegraph Magazine writers and reporters contributed to this article.