Comment on Please bro

• Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

  crypto was the previous shiny new toy until it dint work

  The market cap of crypto is currently at all time highs.

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  • jaennaet@sopuli.xyz ⁨1⁩ ⁨month⁩ ago

    Riiight, and how much of that is due to things being in actual “real-world” use, and how much of that is due to speculation?

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    • Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

      Oh yes. A huge amount of speculation. Just like NVDA.

      My point is that you can say a lot of negative things about crypto, but you can’t say it doesn’t work. It definitely works.

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      • MadBigote@lemmy.world ⁨1⁩ ⁨month⁩ ago

        Works, as in what exactly?

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      • merc@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

        It doesn’t work as a currency. It “works” as a speculative investment in that the bubble hasn’t yet popped.

        But, what if the bubble doesn’t actually pop, and the prices remain at the current levels, more or less, for another couple of decades. If that happens, will cryptocurrencies be seen to “work”?

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  • Mika@sopuli.xyz ⁨1⁩ ⁨month⁩ ago

    I own crypto because I believe in idea of decentralised money, but I acknowledge that current solutions are just all bad in one way or another. If fiat disappeared tomorrow and everyone would be forced to use crypto daily, it would be a shitshow.

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    • Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

      From an end UI perspective, certainly.

      But if SWIFT was suddenly replaced by a blockchain technology then the world wouldn’t even blink.

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      • Mika@sopuli.xyz ⁨1⁩ ⁨month⁩ ago

        You kidding? How many transactions per second bitcoin blockchain can do?

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• prosecute_traitors@lemmy.world ⁨1⁩ ⁨month⁩ ago

  Everybody knows market cap is directly proportional to real world value and usefulness.

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  • echodot@feddit.uk ⁨1⁩ ⁨month⁩ ago

    There is always someone who reckons they can get something from nothing. Also long as they exist the bubbles will continue

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