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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] 5 points 1 year ago* (last edited 1 year ago)

as long as there are easily accessible networks with money on them there will be scammers to try and exploit them, this is no different than what we have seen with fiat, the biggest difference being that usually you have to use cash only to put out a shingle and be shady. Crypto allowed anyone to "look" legit and have easy access to settlement.

if anything people are learning WHY you want to at minimum control the ramps and ensure there are channels through which there can be trade using strong identity systems. next phase of crypto will look a bit more grown up as it will very likely be coming to the party as an enabler of multiple VRF style auth systems, helping break dependance on social login systems.