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.
The difference between banks and crypto is that banks are currently the backbone of the entire planet’s economy and are serving a critically important purpose and crypto is used by already-wealthy people to do speculative trading free from regulation to continue extracting wealth from poor people.
The alleged concept behind bitcoin was cool, but that simply isn’t what it or any other cryptocurrency has turned into.
So yeah, I’d say I’m fine with the banks power usage given that people actually fucking use them, whereas crypto is using more power than whole ass countries and simply isn’t useable as real currency right now.
When people no longer need to trade their crypto for real, government-backed currency in order to actually do shit with it, I’ll consider changing my position. But for now I see the entire crypto space as inherently wasteful and not much more than a massive ponzi scheme.