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Is this the end of crypto?
441–448 of 448 posts
Re: Is this the end of crypto?
#442> Moreover, sceptics should acknowledge that nobody can predict which innovations will bear fruit and which will not. People should be free to devote time and money to fusion power, airships, the metaverse and a host of other technologies that may never come good. Crypto is no different. As the virtual economy develops, useful decentralised applications may yet appear—who knows? The underlying technology continues to…
It's not level-headed. They've started with the classical Economist premise: gov regulation bad. Then rather than understand or research cypto, they contrast lies told by charlatans against an unmentioned "sceptical" reality. They then conclude with their premise. This is an exercise in pure ideology, conveys no information, and presents the scam sales-pitch around crypto entirely verbatim. It is that most common of…
I was with you for the first two paragraphs.
Re: Is this the end of crypto?
#443When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
When bitcoin first came onto the scene I personally knew a guy who was running a website to act as an exchange. It was small because bitcoin itself at that time was very small. Then bitcoin had its very first dip and it became unprofitable to mine bitcoins. When that happened he shuttered the website and kept everyone's bitcoins. I knew of bitcoin early on due to this guy, but even then I had no interest and consider…
A lot of things have no value to most people. Go to an antique show or an art auction and you yourself may see boring drawings and literal garbage, but many others pay handsomely for it! BTC has no visual or any sensory representation so it's not apples-to-apples but it's a collector's item at the very least.
Re: Is this the end of crypto?
#444> The disappointment is that, 14 years after the Bitcoin blockchain was invented, little of this promise has been realised. Crypto’s frenzy drew in talent from bright graduates to Wall Street professionals, and capital from vc firms, sovereign-wealth and pension funds. Vast quantities of money, time, talent and energy have been used to build what amount to virtual casinos. Efficient, decentralised versions of mainstr…
> This may or may not be the end of "crypto," but Bitcoin continues to operate just as before - without the need for exchanges, regulators, entrepreneurs, financiers, or visionaries. Bitcoin absolutely needs exchanges. Sure, it's a self contained decentralized system that could keep churning along without needing anything but computation and the internet, but the day you can't exchange btc for fiat is the day bitcoin…
> ... What is the point of it without exchanges?
The point is that exchange of bitcoin for goods and services is possible without trusted third parties. Whether you approve of what is being traded is a separate question.
Re: Is this the end of crypto?
#445> The disappointment is that, 14 years after the Bitcoin blockchain was invented, little of this promise has been realised. Crypto’s frenzy drew in talent from bright graduates to Wall Street professionals, and capital from vc firms, sovereign-wealth and pension funds. Vast quantities of money, time, talent and energy have been used to build what amount to virtual casinos. Efficient, decentralised versions of mainstr…
What is Bitcoin doing while it operates?
Facilitating the exchange of stored value for goods and services without a trusted third party.
Re: Is this the end of crypto?
#446No post body was provided.
Re: Is this the end of crypto?
#447Earlier quoted context omitted.
Seriously. This has been asked and called time and time again, but has been proven wrong each time
It has that in common with everything that has ever failed, in that none of those things had ever failed before they failed.
That can be applied to anything.
I was speaking more to the naysayers calling for the death of crypto every time prices dropped significantly over the last 13 years or so, nevermind the fact that crypto hasn't failed as of now.
Meta is looking rough, and if we're to go by the definition of failure that media and others are applying to crypto rn, then Meta is a failure, though it isnt.