[HN Gopher] Is Crypto Dead?
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       Is Crypto Dead?
        
       Author : zoomzoom
       Score  : 18 points
       Date   : 2022-11-20 21:54 UTC (1 hours ago)
        
 (HTM) web link (twitter.com)
 (TXT) w3m dump (twitter.com)
        
       | seydor wrote:
       | Death is not a valid concept for a computer program.
        
       | halfcat wrote:
       | Short term, Bitcoin may plummet, but it changes long term
       | prospects very little.
       | 
       | 1929 didn't end the stock market. It wiped out a lot of value,
       | and changed nothing long term except timelines.
       | 
       | It's possible we see 3-digit BTCUSD in the future, and later
       | 7-digit.
        
         | ddalex wrote:
         | Buy the dip?
         | 
         | I hope that mining will become prohibitively expensive due to
         | rising energy prices when the BTC will fall.
        
       | pjkundert wrote:
       | No.
       | 
       | The battle has just been joined. The drunken and stupid are being
       | picked off.
       | 
       | The battlefield is being set, for the first real battles.
       | 
       | Buckle up.
        
       | colesantiago wrote:
       | Not yet, but it soon will be.
       | 
       | One word:
       | 
       | Tether.
       | 
       | Then crypto will never recover.
        
       | shagymoe wrote:
       | Seems like an irresponsible and useless post. The kind of thing
       | that isn't allowed here on HN. Nothing but heresay, so why say
       | it. Honestly asking.
        
       | moistly wrote:
       | Are MLM schemes dead? Nigerian money scams? Slot machines?
        
         | walrus01 wrote:
         | Scammers with a well prepared script calling or messaging age
         | 65+ persons pretending to be their grandchild in need of bail
         | money (which _of course_ must be paid from a bitcoin ATM, or in
         | itunes gift cards or similar) seem to be wildly successful
         | these days.
         | 
         | I have a theory that some of this is due to large scale data
         | leaks that have peoples' ages in a database field so some
         | scammers are now in possession of name, phone number and ages
         | for millions of elderly americans.
        
       | superchroma wrote:
       | it has basically no use-cases that the government will permit
       | that solve a novel problem with less friction than existing
       | solutions, which is the criteria for success, so yeah, for the
       | time being. Worse, the space is riddled with scammers.
        
       | ThrowawayTestr wrote:
       | A cool idea ruined by the worst people.
        
         | dredmorbius wrote:
         | 99% percent spoiling it for the rest, as usual.
        
         | oceanghost wrote:
         | There's this concept in economics that regulations last about
         | as long as human memory-- that we create a law to stabilize a
         | problem we saw, then the memory of why we did that is lost, and
         | someone comes in and says "this has always been fine, lets
         | deregulate it."
         | 
         | In the case of crypto, we experienced 500 years of economics
         | lessons in a decade.
        
           | sekh60 wrote:
           | I think the same thing plagues medicine. Vaccines have been
           | so successful in the developed world that we have forgotten
           | the horror of diseases like smallpox and polio. I this
           | success helped the rise of the anti-vax movement.
        
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       (page generated 2022-11-20 23:01 UTC)