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226

Is Crypto Finally Dead? (beehaw.org)

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

288 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.

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[–] Wander@yiffit.net 17 points 1 year ago (2 children)

Nope. I use it on a weekly basis to pay for stuff on the internet. It's got its uses and the concept is sound. What you're talking about is the hype train that happens ever so often.

[–] SaintLunatic@midwest.social 10 points 1 year ago (4 children)

What do you use crypto to pay for on the internet every week?

[–] volatile@beehaw.org 15 points 1 year ago

Nice try FBI

[–] kek_w_lol@lemmy.one 9 points 1 year ago (1 children)

Wouldn't you like to know, fedboi.

[–] JackbyDev@programming.dev 2 points 1 year ago

"Did you know if you ask me if I'm a cop that I legally have to answer you truthfully if I'm a cop? So relax! What do you spend it on?"

[–] Wander@yiffit.net 4 points 1 year ago (1 children)

Servers, VPN, domain names and recurring donations. Mostly donations every week. Servers and VPN on a monthly basis.

[–] SaintLunatic@midwest.social 0 points 1 year ago (1 children)

Thanks for the response. Aside from the fed responses lol I was wondering what people actually used it for since we can’t deny there is a lack of products you can buy with crypto. I will def start using it for donations and VPN

[–] Wander@yiffit.net 1 points 1 year ago

Actually I've had really good success in paying for privacy services with it. I wouldn't do it any other way, especially for things like a VPN where you don't want the provider to have to keep your name and address due to legal requirements.

Another great use case is sending money abroad, especially to countries where there's other sorts of financial restrictions.

[–] Geo_bot@dataterm.digital 1 points 1 year ago

Look up crypto wallets and use the ones you can use on your local computer (don't bank your coins in exchanges)

[–] Geo_bot@dataterm.digital 2 points 1 year ago

I'm glad to see that paying for things is still an option. What I really hope for is that the future of crypto is all payments and the investors fuck off