I was in Port Elizabeth recently, and walking past a shabby shop front on a suburban strip mall, the ubiquitous ₿ caught my eye. Under a banner advertising ‘The crypto revolution’, it listed its services, which included ‘Established and verified Industry Partners’, ‘Qualified Consultant Services’, and promised a ‘Commitment to customer empowerment and enrichment’. It also advertised what it called ‘Bitcoin Mining Pool Shares’.

The shop was deserted in the mid-afternoon, but my friend, who lives in the city, said it was always busy at night. It reminded me a little of revivalist churches, which somehow occupy similar premises. Tellingly, there was no name or phone number on the door, and none that I could find on its website. The chat function (in English and Chinese) and email address also appeared not to be working.