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.

  • JackbyDev@programming.devEnglish
    1·
    2 years ago

    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.)

    • joelthelion@beehaw.orgEnglish
      2·
      2 years ago

      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@programming.devEnglish
        2·
        2 years 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.