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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) (1 children)

Tons of people already can't handle signing up for a simple account. You think having to get a crypto wallet, figure out how to use it, and pay money into it before you can even start actually signing up for a social media account is ever gonna fly? Not in a million years.

NFTs truly are the best imaginable example of a solution in search of a problem. Every single use case I've ever heard someone pitch is something that already exists and already works. But like.. what if your hotel key was an NFT, bro? Whoa. What if your softball team's schedule was an NFT? What if your social media account was an NFT? 🤯

[–] [email protected] 3 points 1 year ago (1 children)

I explicitly said in my comment:

Unfortunately this adds some complication to the registration process that the Fediverse really can't afford right now.

You don't appear to have actually read it all the way through, just triggered a standard anti-NFT rant off of the fact that the word "NFT" was present in it. Which is ironically exactly the problem I was complaining about.

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago)

I read it. And I disagree.

It isn't that it can't handle it "right now." It will never handle it. Nobody wants it.

But I bet "you can't read, you're just triggered by a word" is way easier to fantasize about than actually paying attention to reality.