LIVE FEB 22. Bitcoin Tests $25k, Train Derailments, and the Rise of Web3 Social

With news of recent train derailments, the media appears to be in a sudden frenzy about them. But as bad as they sound and can be in some instances, particularly the one in Ohio that required a city-wide evacuation because of toxic chemicals, train derailments in the US are not uncommon.

Federal data shows more than 1,000 train derailments happen each year on average. Most do not cause extensive damage or result in injuries or death. From 1990 to 2021 there were an average of 1,705 train derailments per year, according to data from the U.S. Bureau of Transportation Statistics and Federal Railroad Administration.

In 2021, there were 1,087 train derailments, according to the Bureau. That amounts to an average of about 90 derailments per month or about three derailments per day. Although they are common, they are not commonly catastrophic.

But when they are, who should be held accountable and how?

Transportation Secretary Pete Buttigieg wants the nation’s freight railroads to immediately act to improve safety while regulators try to strengthen safety rules. He also said the Department of Transportation will hold the railroad accountable for any safety violations that contributed to the Feb. 3 crash near the Pennsylvania border. Some however think Pete should resign because he has not acted soon enough. And because of the chaos that the airlines have been going through.

In the world of crypto, 2023 is beginning to look a lot like 2017, at least according to CoinTelegraph. 2017 is the year the last Bitcoin bull market started before 2018 took off on a stampede. As Bitcoin tests $25,000, some say this is the last resistance before blasting past $30K. BTC’s market cap flipped Visa’s and while the market cap could slide again before the next bull run, this is a good sign. Bitcoin is said to be better for unstable times than stocks, bonds, or mutual funds.

In fact, in this week’s bi-weekly episode of the MTC Show, we welcome back Allen Taylor, Author of the new book Web3 Social: How Creators Are Changing the World Wide Web (And You Can Too!) [View on Amazon]. Taylor joins us for a brief discussion about Bitcoin and the idea of YouTube embracing Web3, whose CEO Neal Mohan is a fan.

Taylor, editor of the Substack Cryptocracy, believes that when Web3 hits the mainstream, Web2 platforms like Facebook, Twitter, and YouTube will have to transition or risk sliding into “MySpace obscurity.”