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

• As an actual currency, it's functionally useless. Even if every retailer on the planet were to accept it, the overhead for making the transaction is just a non-starter

• Because of that, it's entirely just funny money. Even further, since it's entirely a virtual asset, if the power goes out, your wallet goes with it

• The environmental impacts are horrifying. This fact alone means that it should all be eradicated. Destroying the planet for Internet funny money isn't an acceptable proposition

• For a decentralized currency, people sure do love centralizing under large exchanges, and the massive losses, thefts, fraud, etc. have shown that no matter how "decentralized" it's supposed to be, it's still susceptible to the same bullshit as any other currency

• Its high profile association with grifters, scammers, malware, and dark web shenanigans has completely soured its image in the public mind

• It's entirely a speculative investment scam now. There's no way to decouple it from that.

not really. the stupid stuff, like nfts, are dying, but the rest is still the same.

Nah. This happens every few years, has been since 2014. Buy a GPU before they rise up and use all of our electricity again. An new SBF will crash it sometime.

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

Ah yes. Another entry to the list: https://99bitcoins.com/bitcoin-obituaries/

Weak hands got shaken out, and the economy is teetering on recession. When inflation stops and interest rates fall, and quantitative easing starts back up it's gonna come roaring back. The SEC and CFTC aren't trying to kill crypto, they are just trying to decide who's jurisdiction it falls under. The crypto industry will benefit from regulation, it will get safer, and you'll feel like an idiot for asking this question instead of buying while it's cheap. Hit me up in 2025!

No, the market is down. stocks are down.

It will never die. I believe it will wax and wane over the years. Being incredibly anonymous and deregulated means it will always be a great place for the evil doers to manipulate the market and make money off of it. Because of that there will always be some people using it.

I think one of the biggest failings of cryptocurrency in general is that people view it as a replacement for cash or debit cards when in reality with how slow and expensive the transactions are it is more of a replacement for clearing houses. When you get money sent to your bank you can use it right away because the bank trusts you and provides that service but the money isn't truly there yet. You may have heard the phrase of "the check cleared" or something similar. It takes a long time for those processes to complete and crypto is faster than it.

Maybe people understood, that instead of freedom as advertised, crypto brings out even more oppressive forms of capitalism.

it should be

Nope. I use it on a weekly basis to pay for stuff on the internet. It's got its uses and the concept is sound. What you're talking about is the hype train that happens ever so often.

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. 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.

I know one crypto bro IRL. He acknowledges that it's all just a pyramid scheme, but he enjoys it because it's like gambling but with more strategy involved I guess.

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

The A.I. "Grift Shift" is Underway

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.