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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: 0s | source
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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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amelius ◴[08 Dec 25 10:33 UTC] No.46190719[source]▶
To add to that, crypto is also a gift from heaven for criminals who need to receive ransoms.
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Dilettante_ ◴[08 Dec 25 10:45 UTC] No.46190809[source]▶
"Freedom enables crime" is an entirely true argument, and a gift from heaven for The Powers That Be who need to justify the taking-away of Freedom.
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amelius ◴[08 Dec 25 11:03 UTC] No.46190929[source]▶
Freedom is never absolute. What gives one person freedom may limit another person's freedoms. Therefore you will have to weigh the pros and the cons of a technology that promises freedom.
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ethbr1 ◴[08 Dec 25 11:38 UTC] No.46191134[source]▶
I'd extend that a bit, in the same vein as TFA: you should always be aware of who you're taking freedom away from and who you're giving it to, in practical actual terms, when designing or deploying revolutionary technology.

If you deploy a non-government fiat monetary system... most of your users are going to be people who want to avoid government currency controls.

Consequently, without a counterbalance, they're going to skew the industry towards their needs.

In the same way that allowing the largest advertising company in the world to own the most popular browser in the world has some conflicts of interest.

Money sets strategic direction over the long term.

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1. Wololooo ◴[08 Dec 25 15:05 UTC] No.46193018{3}[source]▶
Which funnily is the dumbest thing ever. Because in order to use the currency you need to exchange it which means that you need input and outputs, you slightly obfuscate that but in the crypto chain everything is saved, so everything is traceable forever. Slip up once when extracting or get your wallet involved in unsavoury interactions and you're done. It's not a matter of if but a matter of when...