Crypto scams burnt up all their market, i.e. pretty much everyone who want 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.

it should be

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

I'm glad I never got into cryptocurrency. For all intents & purposes, it might as well be Monopoly money.

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

Cryptocurrency? I don't know.

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.

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:​

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

I don't think it is dead, but the hype certainly seems to be over. It is important to realize that as long as the crypto value trend is strongly linked to value of other commodities, it is still being treated as an investment, rather than a currency. Increasing the places where crypto can be actually used to pay will allow for unlinking crypto from being an investment to a currency. I guess there most people are currently not interested in that as much, which I think is unfortunate.

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

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.

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

The A.I. "Grift Shift" is Underway

This is good for Bitcoin.

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.

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

Crypto is dead, long live bitcoin.

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.

Most existing cryptocurrencies have no inherent value, they might make sense as a currency, but having a cell in a distributed spreadsheet assigned shouldn't be considered a growth investment and it's absurd how many treated it that way. The only way that sort of thing works is with an endless supply of greater fools, and evidently they ran out.

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.

I hope the hype is dead. What are people buying drugs on the deep net with these days?