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.
I’m not a big fan of crypto for a number of reasons but that “for all intents and purposes” bit applies to all fiat cash.
That’s not entirely true. The US dollar is backed up by it being mandated as (I believe the only) acceptable payment for US taxes. So long as the US government exists, US currency will have value to anyone who has to pay those taxes.
Cash is monopoly money, with the key distinction of being backed by a government.