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I wasted years of my life in crypto

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681 points Anon84 | 6 comments | 07 Dec 25 12:57 UTC | HN request time: 0.468s | source | bottom
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phplovesong ◴[08 Dec 25 10:07 UTC] No.46190528[source]▶
The original promise of crypto was lost a LONG time ago.

Instead of being a true rival to FIAT, it became a thing with a toxic-as-hell commumity, fraud, and basically its nothing more than a high risk stock. The risk is NOT only "will this go up or down" but you have a high risk of being robbed, as have happened to millions of people.

Maybe there will be a better alternative in the future, but right now bitcoin is not it.

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1. l___l ◴[08 Dec 25 11:36 UTC] No.46191119[source]▶
> its nothing more than a high risk stock

Nothing more? Proof-Of-Work wasn't innovative?

With fiat you have high risk of losing 50% of USD's purchasing value within 2 years, which already happened, and which is not far from being robbed, as have happened to millions of people too.

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2. phplovesong ◴[08 Dec 25 14:11 UTC] No.46192396[source]▶
Sure, but if i have investments they cant be stolen, and if they are im pretty much compensated (given im not straight up giving my account away, hell even then there is usually a 24h window with a limit on withdrawls).

Bottom line is no one takes responsibility in the world of bitcoin.

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3. gametorch ◴[08 Dec 25 14:29 UTC] No.46192610[source]▶
You can buy an ETF that wraps spot crypto and get all those guarantees you name in exchange for a small fee.
4. the_gastropod ◴[08 Dec 25 15:07 UTC] No.46193058[source]▶
Proof of work was innovative when it was created in 1997 as an anti-spam email solution.
5. FabHK ◴[08 Dec 25 16:06 UTC] No.46193929[source]▶
lol. No, PoW existed before. Putting it all together in this specific form was an innovation, if only a minor incremental one on the large body of work of state machine replication, enabling for the first time sybil resistance and thus permissionless distributed consensus. But all that gave us were crime tokens; haven't seen a use case but crypto yet.

Invest in stocks and bonds to maintain purchasing power.

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6. l___l ◴[08 Dec 25 17:46 UTC] No.46195313[source]▶
If it was only a minor incremental innovation, in this specific form, wouldn't it have appeared years earlier?

> haven't seen a use case but crypto yet.

BTC is up 500%+ since 2 years ago. This looks like a use case to me. It maintained purchasing power better than stocks and bonds.

This comment read to me like AI slop.

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