No. Bitcoin is the future of money. It really is the best form of money humanity has invented so far. People just need to stop trading shit coins.

In the majority of people's eyes crypto is seen as a scam and something to avoid. The only thing crypto ever did for me was make things I actually care about more expensive.

I think it would take a lot to recover from the bad reputation it has gotten.

you can’t get a real discussion of crypto here because downvotes are impossible and the simps are legion

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.

@peanuts4life@beehaw.org It's called a bear market. Every 3-4 years, it's the same thing. Patience...​:blobcatthinksmart:​

Well, are MLMs dead? Audible book spamming? The nigerian prince scam? Hell, mail scams are still running to this day.

As long as there's a hook, I doubt cryptomoney scams are going to be leaving any time soon. It is rare we'll see scams of the same magnitude as before, but they'll always be around in those sorts of communities. Just a matter of principle, whenever money's involved.

You could probably go back to buying pokemon cards, though. The fact that crypto's greatest investors have a vested interest in not having their cash vanish into thin air, it's best used for it's purpose-- as currency-- unless another FTX fumbles the bag.

It is humming along nicely for those that use it. There could be another speculative pump filled with scams, that would be no surprise.

as long as there are suckers out there, crypto will live.

Crypto scams burnt up all their market, i.e. pretty much everyone who was going to get into the crypto bubble, did. You can tell because crypto went mainstream, buying stadiums and advertising through Matt Damon.

So when the bubble burst that time, there's no one left to start a new bubble with.

Maybe crypto scammers moved on to selling LLM “prompts?”

The A.I. "Grift Shift" is Underway

It's definitely not dead. Market cycles come and go. It's just a matter of time until the next round.

I think really it just hit some kind of critical mass where people lost interest. Like streaming services: at first there was one (Netflix) and everyone wanted it, then there were a few and there was one for everyone, then there were too many and people just got sick.

This is good for Bitcoin.

the pyramid scheme of crypto is dead. Partially because there are no suckers left to buy in and partially because interest rates have gone up, meaning that money is no longer free and investments need to promise a return, which crypto can’t provide as it lacks meaningful utility.

The long and short of it is that crypto was never a good idea, a currency where no one is “in charge” Is a currency where no one is responsible, so if something goes wrong no one is to be expected to fix it.

I’m not about to say that the federal reserve is the perfect system, but it is much better than anything the crypto world has come up with. Bitcoin is deflationary and inefficient, ethereum is undemocratic and has it’s attention split, and everything else lacks a broad base.

The centralization or currency was never the problem and these alternatives are worse in just about every way.

In the US each time crypto is traded it needs to be reported.

I got free crypto from Coinbase. Then sent it to a wallet, then sold it. So each transaction needed to be reported. It’s too troublesome to be worth it.

Also, if I buy crypto, they have a week hold before I can move it. My idea was to buy crypto in country A and sell it in country B to quickly transfer money between the two countries I live in. Also it would help me beat the bank fees.

But the 7 day hold kinda defeats the purpose of quickly transferring money.

No, it'll never go away, fortunately or unfortunately depending on your perspective.

Cryptography? No it's not, any more than math is dead.

Cryptocurrency? I don't know.

as long as there are easily accessible networks with money on them there will be scammers to try and exploit them, this is no different than what we have seen with fiat, the biggest difference being that usually you have to use cash only to put out a shingle and be shady. Crypto allowed anyone to "look" legit and have easy access to settlement.

if anything people are learning WHY you want to at minimum control the ramps and ensure there are channels through which there can be trade using strong identity systems. next phase of crypto will look a bit more grown up as it will very likely be coming to the party as an enabler of multiple VRF style auth systems, helping break dependance on social login systems.

There are always some new people who believe they can get rich quick by investing in stocks, crypto, NFTs or something else. Why don’t we just write numbers on ping pong balls, throw them in huge transparent plastic sphere, shuffle the balls a few times, pull out a few and give some money to anyone who guessed the right numbers. Oh, wait we’ve already invented the stupidity tax centuries ago.

Bitcoin is still around 30k a pop, so I wouldn't say it's dead yet. But I foresee a big crash in the months or years to come: the hype has passed, and the real uses of crypto are very few. It's also not a good investment since the expected returns are 0. Once people finally realize that, I see the price falling to 1k or even less.

Not dead, just sleeping. It's a tougher, higher interest-rate market which cuts out a lot of the gambling behavior. I remain invested but my principle has shifted away from the financial and trad-economic terms to this:

Blockchains are valuable where they secure valuable information. Therefore, if a blockchain adds more valuable information, it becomes more valuable.

And that's it. You don't have to introduce markets and trading to make the point, but it positions those elements in a supporting role, and gets at one of the most pressing issues of today: where should our sources of truth online start? Blockchains can't solve the problems of false sensation, reasoning or belief, but they fill in certain technical gaps where we currently rely on handing over custody to someone's database and hoping nothing happens or they're too big to fail. It's just a matter of aligning the applications towards the role of public good, and the air is clear for that right now.

Most people are shifting towards the AI trend instead. Read a post which somewhat describes it well, people integrate the new trends into their projects to get more investor money. Nothing looks better to investors other than 'We have AI Blockchain nano technology behind our service'.

Last year, 'we have blockchain' earned lots of money. Now it's 'we have AI'. In both cases, the technology probably isn't needed, it is there just to be there.