Technology

37750 readers

205 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

237

Is Crypto Finally Dead? (beehaw.org)

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

294 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.

you are viewing a single comment's thread
view the rest of the comments

[–] JackbyDev 3 points 1 year ago (1 children)

expected returns are 0

That's the same thing with gold though. There are other reasons to invest in something than just returns. Some folks want something to maintain its value. Bitcoin being deflationary is supposed to be a good hedge against inflation. (But it's far to volatile to really serve that purpose in my opinion.)

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

Well, gold has the added benefit that it has served this purpose for thousands of years.

Would you really count on an extremely complex electronic currency requiring a distributed array of machines to get you through a major crisis?

[–] JackbyDev 2 points 1 year ago

You mistake me, I'm not saying Bitcoin is better than gold. I was just pointing out that returns are not the only reason.