this post was submitted on 17 Oct 2025
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[โ€“] sp3ctr4l@lemmy.dbzer0.com 9 points 1 day ago* (last edited 1 day ago) (1 children)

Bitcoin was supposed to be an anonymous, secure, digital currency.

If you actually want that, its called monero, not bitcoin, and even it has problems.

Bitcoin, ethereum, all the forks and clones of them with different stupid names?

Not anonymous, not secure.

Oh, right, and they're all massively tied into that financial/monetary speculation machine that they were supposed to be an alternative to.

Now, you just have a crypto balance that is whatever your coin exchange says it is, untill oops, turns out they were double holding 'your' coins in some way, you actually have none, or, a market swing or crash wipes out your 'store of value', because you actually invested in a complicated ponzi scheme.

For all the bullshit fraud and dangerous speculation of traditional finance, the crypto space is a million times worse.

Crypto now largely just is a speculative asset.

It never took off as an actual medium of exchange for anything other than basically illegal guns and drugs... its just a new, more insane kind of stock market, a new kind of speculative asset.

Every crypto video game is a fucking joke.

NFTs are a fucking joke.

Everything you dislike about traditional banking and finance?

Crypto is that, but much worse.

[โ€“] bufalo1973@piefed.social 4 points 1 day ago

The very moment you can get more coins by wasting energy, disk space or "digging" it in any kind of way means that will be used to speculate.