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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: 0.413s | source
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reenorap ◴[08 Dec 25 15:28 UTC] No.46193336[source]▶
I worked at a crypto exchange and after I came to the conclusion that 99% of crypto was scams and rugpulls, I sold all my crypto and vowed to have nothing to do with it. It's more of a religion than a financial instrument and absolutely nothing has shown to me that crypto is anything more than a speculative gamble, basically tulips with the religious promise of a better world. The number of employees that lost money on rugpulls while I was there, but "still believed in crypto" was staggering.
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earnesti ◴[08 Dec 25 16:06 UTC] No.46193945[source]▶
I've never understood crypto, however I'm long term Bitcoin fan and user, and don't consider it "crypto". I think Bitcoin is pretty much opposite what the typical crypto project is.
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1. jadbox ◴[08 Dec 25 16:36 UTC] No.46194369[source]▶
I worked in crypto for five years, and this resonates. Sure, you can make money hustling some hype coin, but chances are you are more likely to lose money/time in the process. Outside of very specific supply chain blockchains, 99% of the actual value I see in order of value: 1) Stablecoins [faster than ACH!], 2) Bitcoin, and in certain places, 3) Ethereum has its uses.

Even Bitcoin though is not a panacea though, as without REAL transactional use-cases, it is also prone to sudden major drops. Until people in your home state can buy a car, house, and groceries using bitcoin directly (WITHOUT a Visa bridge), the real value will be highly subjective to the whims of the market.

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