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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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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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rjdj377dhabsn ◴[08 Dec 25 18:31 UTC] No.46195870[source]▶
What is that hidden service scanner showing with regards to monero?
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1. atomic128 ◴[08 Dec 25 18:56 UTC] No.46196175{3}[source]▶
The majority of the criminal activity on the Tor darknet is mediated by hidden services listed by that scanner. You can visit those services (using the .onion URLs) and see that Monero (XMR) is the preferred cryptocurrency. Bitcoin is sometimes used for hosting, etc., but Monero exists to avoid Bitcoin's security weaknesses and the criminals are well aware of this advantage.