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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: 0.001s | 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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kanbankaren ◴[08 Dec 25 16:47 UTC] No.46194513[source]▶
It has proven neither to be a store of value nor medium of exchange though it is being used extensively for criminal activities.
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atomic128 ◴[08 Dec 25 17:40 UTC] No.46195234[source]▶
Monero is used for criminal activities, not Bitcoin. How do I know? I monitor crime, mostly but not exclusively drug crime, on Tor's hidden services: https://rnsaffn.com/zg4/ Monero is the cryptocurrency of choice.
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1. leftouterjoins ◴[08 Dec 25 18:18 UTC] No.46195715[source]▶
This is the same, nonsensical argument against monero that is used against end-to-end encrypted messaging. "app of choice for criminals" "makes enforcement harder" etc.

It completely ignores the benefits of Monero. Crime exists. Its not going anywhere. It is not societies job to make the crime fighter's job a walk in the park. Crimninals use cars to commit crimes, we don't outlaw cars. They use masks, the store sells masks.

The benefits of a global, decentralized and truly private and free medium of value exchange would be massive to the average person, but deterimental to those in power so they must use FUD to squash it.