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234

Is Crypto Finally Dead? (beehaw.org)

submitted 1 year ago by peanuts4life@beehaw.org to c/technology@beehaw.org

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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.

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[–] mosthated@feddit.nl 9 points 1 year ago

I don't think it is dead, but the hype certainly seems to be over. It is important to realize that as long as the crypto value trend is strongly linked to value of other commodities, it is still being treated as an investment, rather than a currency. Increasing the places where crypto can be actually used to pay will allow for unlinking crypto from being an investment to a currency. I guess there most people are currently not interested in that as much, which I think is unfortunate.