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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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[–] bbbhltz@beehaw.org 3 points 1 year ago (1 children)

My partner just got a DM on Instagram about... cryptomoney! Funny thing is, if you search the company, the entire first page is about scandals and negative things. And it is on some MLM list too.

So, the grifters are still out grifting.

[–] Jamie@jamie.moe 1 points 1 year ago

There are also a lot of crypto scam sites popping up, where a scammer will set up a fake crypto exchange site that looks real on first glance, hoping you make an account, give them all your identity information, and "deposit" a bunch of money/crypto into it, which they run off with.