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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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imglorp ◴[08 Dec 25 12:45 UTC] No.46191590[source]▶
Anonymous crypto, yes.

But if you're suggesting blockchain is anonymous and payments are untraceable, that's not the case for bitcoin at least. It's a gift to law enforcement, if they cared enough to trace btc transactions.

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amelius ◴[08 Dec 25 13:01 UTC] No.46191709[source]▶
This looks like a case of in theory yes, in practice no.

Tracing btc transactions to real persons can be quite some work and is a new kind of cat and mouse game.

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127 ◴[08 Dec 25 16:00 UTC] No.46193837{3}[source]▶
Easier than with either cash or gold.
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1. amelius ◴[08 Dec 25 19:57 UTC] No.46196819{4}[source]▶
Unless you know where and when the ransom exchange takes place.

For criminals this is far less convenient than obfuscating the transaction trail.