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.

  • worfamerryman@beehaw.orgEnglish
    0·
    2 years ago

    In the US each time crypto is traded it needs to be reported.

    I got free crypto from Coinbase. Then sent it to a wallet, then sold it. So each transaction needed to be reported. It’s too troublesome to be worth it.

    Also, if I buy crypto, they have a week hold before I can move it. My idea was to buy crypto in country A and sell it in country B to quickly transfer money between the two countries I live in. Also it would help me beat the bank fees.

    But the 7 day hold kinda defeats the purpose of quickly transferring money.

      • worfamerryman@beehaw.orgEnglish
        1·
        2 years ago

        It’s not just Coinbase though.

        I send it from Coinbase elsewhere and those do not provide the data through a csv.

        Even if it did, it’s too much trouble. 2023 is the last year I touch crypto.