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I wasted years of my life in crypto

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681 points Anon84 | 1 comments | 07 Dec 25 12:57 UTC | HN request time: 0.241s | source
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spicyusername ◴[07 Dec 25 13:28 UTC] No.46181533[source]▶
I've never understood the initial arguments about Bitcoin, no matter how many times they've been explained to me.

The block chain is, and always was, an extremely inconvenient database. How anyone, especially many intelligent people, thought it was realistic to graft a currency on top of such a unwieldy piece of technology is beyond me. Maybe it goes to show how few people understand economics and anthropology and how dunning-krueger can happen to anyone.

Now the uninformed gambling on futuristic sounding hokum? THAT is easy to understand.

That being said, I'm sorry the author had to go through this experience, the road of life is often filled with unexpected twists and turns.

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1. Yizahi ◴[08 Dec 25 14:31 UTC] No.46192629[source]▶
It is an amusing and potentially even good concept, but with one caveat - you only consider close enough exchanges with similar peers. To translate that into English - a fully libertarian self-sufficient settlement where people are exchanging home-made stuff between one another. Because everyone was the same and no one could abuse the system, it may even worked. We even seen it in the early criminal communities, when BTCs briefly were a medium of exchange for drugs. And then tokenbros made a leap of faith and magically scaled that to the whole world. Which obviously didn't work in practice. Their famous Lightening L2 is an abomination of hacks and centralization and it still doesn't scale.

The problem of BTC was at the same time overabundance of imagination in one area and a big gap in imagination how the world actually works. They only saw simple isolated scenarios and never a globalized economy.