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234

Is Crypto Finally Dead? (beehaw.org)

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

290 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 4) 50 comments

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[–] xtremeownage@lemmyonline.com 3 points 1 year 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.

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[–] drwho@beehaw.org 3 points 1 year ago

Bitcoin's in the low $29kus region lately (up from $26kus), so it looks like it's going to keep going. Also, big real money investors are now pretty long on cryptocurrency, so there is a vested interest in keeping it around.

Plus, you know, folks buying stuff on the black and grey markets with it. Wish I didn't have to mention drugs, but it's the easiest way to keep getting insulin for folks these days in addition to the usual recreational compounds.

[–] snappy_ranger@kbin.social 2 points 1 year ago

Good

[–] Deletecat@lemmy.fmhy.ml 2 points 1 year ago (1 children)

Most people are shifting towards the AI trend instead. Read a post which somewhat describes it well, people integrate the new trends into their projects to get more investor money. Nothing looks better to investors other than 'We have AI Blockchain nano technology behind our service'.

Last year, 'we have blockchain' earned lots of money. Now it's 'we have AI'. In both cases, the technology probably isn't needed, it is there just to be there.

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[–] Aetherion@feddit.de 2 points 1 year ago

considering the comments, it’s right now the best time to buy some eth

[–] reric88@beehaw.org 2 points 1 year 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.

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