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idk why crypto is so hated (lemmy.ml)

submitted 11 months ago* (last edited 11 months ago) by [email protected] to c/[email protected]

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It is annoying semi annoying maybe but like I use it to do black market things, anarchy stuff, getting medicine where gov provides shit. It is such a crutch

But you dare to mention it on mainstream media and you will get lynched or banned for whatever reason nowadays.

Kinda irks me because it helps with my disability so much to get stuff I need, medicine. I couldn't function without it

Just ranting I guess, I do too much of rants admittedly

Edit: So I see all the scams created bias about this tech which is unfortunate. But looking aside this tech is pretty rad though maybe too much resource intensive depending on implementation

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[–] [email protected] 5 points 11 months ago

Proof-of-work based crypto has been a disaster. It consumes huge amounts of electricity and other natural resources but produces nothing of intrinsic value. It's spawned whole new criminal enterprises committing whole new categories of crime.

Cryptocurrency in general has been an abject failure. It has not become a genuine currency. It is not a store nor a measure of value; it's value is measured in fiat currencies. It's closer to a commodity, but unlike actual commodities you can't use crypto to make anything useful.

99.99%+ of cryptocurrencies are Ponzi schemes designed to enrich the person or persons who started it. That's why everyone and their dog is setting up their own cryptocurrencies. If crypto actually lived up to its promise of being decentralized and impossible to manipulate there wouldn't be a new type of coin being invented every 5 minutes.

And NFTs? Don't get me started.