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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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[–] nii236@lemmy.jtmn.dev 4 points 1 year ago (1 children)

Gambling except the expected value is higher than 0

[–] SoManyChoices@lemmy.sdf.org 1 points 1 year ago (1 children)

Is it really though? If I were to go and buy my first ever crypto coin today would you really say the expected value is greater than 0?

I have no doubt those who got in years ago or mine coins using other's resources have an expected value greater than 0 but that's not the entire market. I hope.

[–] nii236@lemmy.jtmn.dev 1 points 1 year ago

I guess it depends on your time-frame and your risk profile. BTC/ETH over the medium term has done much better than pretty much any other asset in the world. Altcoins didn't even factor into my brain when I made that comment.