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Is Crypto Finally Dead? (beehaw.org)

submitted 1 year ago by [email protected] to c/[email protected]

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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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[–] [email protected] 10 points 1 year ago (2 children)

In the majority of people's eyes crypto is seen as a scam and something to avoid. The only thing crypto ever did for me was make things I actually care about more expensive.

I think it would take a lot to recover from the bad reputation it has gotten.

[–] [email protected] 2 points 1 year ago (1 children)

It was kinda shocking how negative public sentiment is. I am deep in crypto world so I am used to much more positive feedback on the stuff I am working on, because I guess I mostly hang out with crypto people

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago) (1 children)

That sentiment was earned over time. The original reception of crypto wasn't bad, and large companies like Valve/Steam would accept bitcoin for a little while. All of that went away as bitcoin turned from a potential "digital money" to "just another pyramid scheme". Drying up the GPU market and making PC gaming unformidable didn't help.

[–] [email protected] 1 points 1 year ago

This is a great point.

I've recovered from my Bitcoin maxi days, so I hope things move forward in the industry (namely, the normies learning about ETH)

[–] [email protected] 1 points 1 year ago

I think this is concentrated in the West. In Asia, the sentiment ranges from huh? to ooh that's nifty.

Dubai, Hong Kong and Singapore are quickly rolling out the red carpet for crypto businesses and coming up with actually feasible regulations around them.