Is Crypto Finally Dead?
Is Crypto Finally Dead?
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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I use crypto for its real intention, as money. I buy my groceries with crypto and pay most of my bills in crypto on a monthly basis. Crypto itself is not a problem. Its the FTX's and Mt Gox's of the world trying to graft old banking norms onto crypto that is the majority of the problem. "not your keys, not your coins." Exchanges are like gas station bathrooms, you go in, do your business, and get the heck out. You dont just hang around.
Your bank being named "Magic the gathering online exchange" really should have been a red flag..
Right! I practice what i preach. I put fiat in an exchange, wait a few days for it to clear, biy crypto, and take the crypto off the exchange into a wallet i fully control
The transaction costs are killer though.
I dont use bitcoin as i want privacy. I use monero where fees are $0.01
I've never met anyone taking monero, but I do think it's the only one that may sort of live up to some of the promises. But again, a currency no one accepts isn't useful to me.
I use monero and if i need to pay in another crypto i just use an instant swap to convert monero to their crypto of choice
I see monero pretty widely adopted! But not near Bitcoin and even BCH might have a little more traction.
I've kinda seen monero as a truly peer-to-peer currency because most central exchanges don't ever want to touch it :)