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Comment by dotcoma | Hacker News Reader

Have we already forgotten about crypto?

Bitcoin is at a two-year high.

Gold is just off it's (at least) 200-year high of December last year. I bet we can attribute both in part to real or perceived/imagined inflation.

As a speculative commodity, sure. But in terms of its original promises of utility? Granted, I understand the source of this thread is in terms of economic viability, so I'm not saying you're wrong in context. But I think the point GP is making is that it's fair to say that large parts of the tech industry were totally swept up in optimism and it took a while to sort out the actual facts and value. (That said, I broadly agree with most comments in this thread rather than GP that there is something more tangibly valuable here than with cryptocurrency.)

I didn’t use crypto 10 times a day

Well, some people do.

Paying with coins for EU hosting and US goods while in Russia is quite convenient these days.

Crypto: It's good for money laundering and evading sanctions!

Yes of course, because millions of non-politician/oligarch Russians who just want to participate in the rest of the world's economy and digital systems are little more than scummy, ponzi coin-using sanctions evaders for doing so through the only means of exchange that's available to them?

It's a good thing that crypto exists to serve such a need for ordinary people who are doing something that's illegal only because some blanket political game classified it as such. Mechanisms for escape from certain laws and rules are in general good because not all laws and rules are automatically right simply because they exist.

Apparently you have?

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