this post was submitted on 19 Jun 2023
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Technology

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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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[–] Pyrozo007@lemmy.dbzer0.com 8 points 1 year ago (1 children)

Crypto scams burnt up all their market, i.e. pretty much everyone who want going to get into the crypto bubble, did. You can tell because crypto went mainstream, buying stadiums and advertising through Matt Damon.

So when the bubble burst that time, there's no one left to start a new bubble with.

[–] isosphere@beehaw.org 4 points 1 year ago

I still know permabulls that at least say they are buying with every paycheque. I doubt there are enough dollars doing that to keep the price afloat, if I were a whale I'd probably be selling, personally.