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TheRtRevKaiser@kbin.social

361

Is Crypto Finally Dead? (self.technology)

submitted 1 year ago by peanuts4life to c/technology

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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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[–] borkcorkedforks@kbin.social 32 points 1 year ago (3 children)

It mainly lost it appeal as crashes, arrests, lawsuits, and thief keep happeneding. It was shown to be scammy with scammers scamming.

And yeah the new hotness of LLMs also helped. The tech bros who use to be pushing "X but with crypto" are now looking to push "X but with AI".

[–] lolpostslol@kbin.social 9 points 1 year ago

Yeah this, mainstream big players in financial markets already figured out crypto is useless, so IT firms switched to selling AI to corporates instead.

[–] aacid 4 points 1 year ago

yes, everyone likes to talk that USD/EUR is risky, you have inflation, you have banks closing and stock market crashing, but so far it seems crypto is much much riskier. I feel much safer having my money in bank than having it on some blockchain, accessible only if I know private key and if I loose it there is 0 change I will ever see any of my money.

[–] P1r4nha@feddit.de 2 points 1 year ago

Metaverse came first to replace the crypto hype, but yeah, LLMs definitely gave the crypto hype the rest.