While there are typical comments like crypto=scam “You have to be quite stupid to support crypto in 2023”, there are also replies like these (with which more people seem to agree, unexpectedly):

It’s designed to protect anyone using it - even attackers. That’s the price to pay for having privacy. The alternative is an Orwellian dystopia.

If you’re going to use Luna, FTX, and NFTs as arguments about something like Monero, […] you probably don’t really understand any of them.

It’s a bit odd that such a discussion is more active on a different Lemmy instance than here, but it’s interesting to hear honest opinions of various people about the incident, about Monero. Maybe your views are different from them, from mine. For example, one person states there that while they know exactly what Monaro is, they’re still skeptical.

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[–] rattie_ok@monero.town -1 points 10 months ago* (last edited 10 months ago) (9 children)

“You have to be quite stupid to support crypto in 2023”

They ain't wrong. Usage of crypto has very much stagnated or declined last few years, and it's now just an Internet phenomenon drifting towards oblivion. Like gopher protocol or web rings.

Lucky ones made some life changing money. The rest have only managed to trap their capital into a dwindling returns game.

[–] dragonsidedd@sciencemastodon.com 2 points 10 months ago* (last edited 10 months ago) (4 children)

@rattie_ok @Saki The goal is a "Peer-to-peer electronic cash system". If and to the degree that such is realized, this goal has society-changing ramifications. It is money that plays by Internet consensus rules, not by coercive governmental ones.

Realizing this goal requires many design choices.

When faced with its (rather obvious) scaling problem, BTC chose not to change its design but rather to rebrand as "store of value" instead of "electronic cash".

That was the death of honest crypto.

[–] rattie_ok@monero.town 1 points 10 months ago (2 children)

Well said. Now, how to make crypto honest again? The masses already know about crypto as a get rich quick scheme, and would not dare touch it. Especially since regulations are closing down fiat ramps.

There's a better probability of goldbacks or silver coins becoming a new currency than Monero. Crypto's reputation is just that bad.

[–] dragonsidedd@sciencemastodon.com 2 points 10 months ago

@rattie_ok All we can do is keep Monero honest. It is the only crypto actually being used as currency

[–] Saki@monero.town 1 points 10 months ago

Crypto’s reputation is just that bad.

That’s what I was vaguely assuming too. So those rather favorable (pro-privacy) vibes there were unexpected.

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