this post was submitted on 19 Jun 2023
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Technology

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Is Crypto Finally Dead? (beehaw.org)
submitted 1 year ago by peanuts4life@beehaw.org to c/technology@beehaw.org
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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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[–] xtremeownage@lemmyonline.com 1 points 1 year ago

Even for doing "Illegal" questionable things, unless you use a crypto specifically meant for being anon/secure- its still trackable.

With bitcoin, for example- everything is on a public ledger. ANYONE can track a specific wallet ID. If somebody, says, buys pizza or gas with it at a public location that has a camera- The feds can track that one back.