It isn’t what it seems… So many people lose here…

  • @demesisx@infosec.pubEnglish
    9•2 months ago

    I feel crypto and web3 is simply a way of decentralizing computation by tying an incentive mechanism to it that has been discredited by people who barely understand it/benefit from discrediting it. Furthermore, I believe that anyone who dismisses it as a get-rich-quick scheme is blind to this utility becuse of their inability to think outside of the hive-mind, doing actual crypto protocols a disservice by conflating them with blatant scam projects, reacting to a paradigm-shifting technology being co-opted by degenerate gamblers.

    • Snot FlickermanEnglish
      1•2 months ago

      Crypto is never going to solve the issue of data-in-transit will always have a chance to be intercepted, even if it’s encrypted.

      Crypto doesn’t magically make all the internet infrastructure your property. It’s still bits passing through routers and switches that none of us actually have control over.

      I think crypto is held back by it’s insistence that it traverses other people’s property and relies on other people’s computations/CPU cycles to exist as a good thing, and not a bad thing. Just personal opinion, anyway.

      There was never anything crypto couldn’t do that a database couldn’t reasonably do as well, with the right configs.

  • PonyOfWar
    6•2 months ago

    At this point? Yes, it’s pretty much just grifters and gullible people falling for them. For early adopters of crypto, not necessarily. A lot of random tech nerds got rich just investing a few dollars into bitcoin. I put 200€ into Ethereum back in highschool and while it didn’t make me rich, it did turn into a few thousand at least. These days I stay as far away as possible from anything related to crypto though.

  • @_edge@discuss.tchncs.de
    1•2 months ago

    Well, aren’t most things build to make rich people richer? If you want to start a business, most likely you’ll need (rich) investors. Why would they give you their money if not to get richer?

    I’m impressed by what Bitcoin and Ethereum can do, which was earlier not possible (or different). Not so impressed by most other crypto hypes.

  • originalucifer
    1•2 months ago

    yep. its just another ‘stock market’ where the evaluations are just as fake.