Degen – short for degenerate – is a term used to describe crypto investors who like to think of themselves as impulsive enthusiastic risk-takers and market outsiders. For the film-in-progress Degens: Down & Out In the Crypto Casino, directors Brian McGleenon and Joe Haughey focus on the prankster-esque desperation of many in this world. As they say on their website, “The film explores the inner world of one of the most fascinating and overlooked counter-cultural movements of our time. A world inhabited by Degens, short for degenerates, who invest their meager income into memecoins.” These are the people who have minted coins with names like Shitcoin, Cumrocket, Amber Turd and HarryPotterObamaSonic10Inu.
To some degree, they have also forced mainstream media to repeat these “vulgarities” that, of course, only reflect and reify the vulgarity particularly here in the USA where leading politicians or by comedian talk show host Bill Maher on CNN say ‘fuck’ regularly. It’s all indicative of a collapsing or fragmenting narrative in the context of the decline or recline of western civilization.
To elucidate this shadow world of high (on acid) finance, McGleenon and Haughey have incorporated a number of smart commentators. These range from Gordon Grant (he will be my follow-up interview), a cryptocurrency derivatives trader and the Head of Trading at Genesis, to leading US Marxist academic Richard D. Wolff and to (not least of all) PizzaT.
Full disclosure: I work with PizzaT on music under the banner of R.U. Sirius and Phriendz, which spins off of his own Phriendz music and other projects. We’ve even composed a theme song together for the Degens project titled ‘Degens & Phriendz’ that will be available soon. Aside from being a Sirius fellow and an astonishingly talented musician, composer and guitarist, Pizza, as described by the filmmakers… “is the center of all this madness. The memecoin groups orbit him like satellites spinning out of control. ”So set your stun guns to out-of-control, and dive into this interview about Degens: Down and Out in the Crypto Casino.
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