this post was submitted on 19 Jun 2023
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Technology

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Is Crypto Finally Dead? (beehaw.org)
submitted 1 year ago by peanuts4life@beehaw.org to c/technology@beehaw.org
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Yes, I know that it still exist, and yes, decentralized currency which utilizes distributed, cryptographic validation is not actually a strictly bad idea, but...

Is the speculative investment scam, which crypto substantially represented, finally dead? Can we go back to buying gold bars and Pokemon cards?

I feel like it is, but I'm having a hard time putting my finger on why it lost its sheen. Maybe crypto scammers moved on to selling LLM "prompts?" Maybe the rug just got pulled enough times that everyone lost trust.

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[–] Dymonika@beehaw.org 4 points 1 year ago (1 children)

That's exactly what I was gonna say: @davehtaylor must have no idea of the nearly-cost-free Layer 2 network.

Additionally, how much money does it take to power banks? All the staff, the electricity, the Brinks armored cars, the accounting for all that cash, the safety deposit boxes and all of their contents and insurance... Does he think ACH transfers or, worse, checks or money orders, are free on an environmental level? How is USD with all of its nonstop-growing debt safe in any long-term way?

[–] nii236@lemmy.jtmn.dev 1 points 1 year ago (1 children)

The L2 experience is quite poor at the moment, which is more an indicator of how bright the future is

[–] fades@beehaw.org 0 points 1 year ago* (last edited 1 year ago) (1 children)

How so? GameStop’s NFT Marketplace for games has been showcasing Layer 2 tech from Loopring and it’s smooth as fuck.

There are many others that use Layer 2 tech not just LR of course. Which L2 are you talking about?