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225

Is Crypto Finally Dead? (beehaw.org)

submitted 2 years ago by peanuts4life@beehaw.org to c/technology@beehaw.org

296 comments fedilink hide all child comments

Yes, I know that it still exist, and yes, decentralized currency which utilizes distributed, cryptographic validation is not actually a strictly bad idea, but...

Is the speculative investment scam, which crypto substantially represented, finally dead? Can we go back to buying gold bars and Pokemon cards?

I feel like it is, but I'm having a hard time putting my finger on why it lost its sheen. Maybe crypto scammers moved on to selling LLM "prompts?" Maybe the rug just got pulled enough times that everyone lost trust.

(page 3) 50 comments

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[–] TWeaK@lemm.ee 4 points 2 years ago

I think really it just hit some kind of critical mass where people lost interest. Like streaming services: at first there was one (Netflix) and everyone wanted it, then there were a few and there was one for everyone, then there were too many and people just got sick.

[–] Veraticus@lib.lgbt 4 points 2 years ago

This is good for Bitcoin.

[–] reric88@beehaw.org 3 points 2 years ago

I don't think it's dead, just dormant right now. It kicked up a looot of buzz and got a lot of attention, especially from bad actors and govs. I can see it getting big, again, I just don't know when.

[–] snappy_ranger@kbin.social 3 points 2 years ago

Good

[–] LostCause@kbin.social 3 points 2 years ago* (last edited 2 years ago)

No, one thing is the use cases of some to bypass laws.

The other thing is, there will always be people to fall for all kinds of scams, cults, hypes, pyramid schemes so many are still alive as well, there is people out there buying sugar pills and energy healing and Reddit gold.

[–] xtremeownage@lemmyonline.com 3 points 2 years ago (2 children)

I am just really happy that storage-based crypto died. It made getting hard drives, and used-servers with drive-bays pretty expensive....

Although, https://cryptoslate.com/cryptos/storage/ I guess many more rose to take its place. :-/

I think the real problem with crypto, everyone and their mother has decided to make another stupid cryptos.... and most of them, are completely stupid. The only person profiting, is the person who created it and minted themselves a bunch of coins to hold onto until the value went up.

Don't get me wrong, I think crypto has its place. But, buying pizza at pizza hut isn't it.

[–] jmp242@sopuli.xyz 4 points 2 years ago (1 children)

If you can't buy pizza at pizza hut with it, it's pretty useless as a currency. Which doesn't surprise me, as it doesn't solve any problems with electronic transactions better than traditional existing tools except if you're undertaking illegal purchases.

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