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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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bleuuuu ◴[08 Dec 25 12:41 UTC] No.46191569[source]▶
Not true by any means. Fiat is the tried and true way to commit crime. Having transcations on a ledger forever, works against your criminal take. You are just repeating.
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1. FabHK ◴[08 Dec 25 16:02 UTC] No.46193863[source]▶
Sure, but fiat is indispensable to running a modern economy. And the abuses that occur, of course, are curbed by vigorous regulation and enforcement. Sure, HSBC laundered money for the Mexican cartels. When it came out, it was a big scandal, they were fined, and the money laundering was stopped.

Crypto is entirely dispensable. It is pseudonymous, by design resists regulation, and has no enforcement. Some chains are deliberately opaque (Monero, Zcash), and there are tumblers to obscure flows even further. Its approach to money laundering is "sure, bring it on".

Fiat is indispensable, and better for legitimate purposes than crime. Crypto is dispensable, and better for crime than legitimate purposes. We should dispense with it.