I liked the idea of bounties being paid in crypto but now bounties have problems too, someone needs to figure out a decent bounty site/scheme to avoid hundreds of people trying to claim then then wasting time producing nothing
Lots of other coins are useful for exchanging money outside of the traditional financial system but the majority of people don’t need them and if you use them you need to handle the inherent volatility of something you don’t want to be volatile, and the on- and off-ramping cost and inconvenience.
Web3, defi and NFTs seem like a bit of dud so far and most projects are somewhere on the scale from “useless” to “outright scam”.
And of course many people won and lost lots money by speculating on crypto prices.
As the world becomes more fragmented, with financial and cyber spaces becoming increasingly isolated, crypto is often the only tool left to maintain personal financial freedom.
So, in the long run, I believe crypto will be just fine. The trend isn't likely to reverse anytime soon.
Most currencies are dogshit remittance tools but have the benefit of being harder to regulate and monitor than PayPal, western union, swift etc.
You're probably right, but they will be centralised cryptos and thus kind of defeat the whole point.
I often need to wait for many days for a SWIFT to get through. There are fees — sometimes way larger than crypto fees. Transactions are frequently blocked, and I end up spending a lot of time convincing my bank that the transfer is legitimate.
Plus, they tell you that if there's an error, like sending money to the wrong account, it can't be reversed — just like with crypto. So really, what's the point of all that extra hassle?
Since early 2024, several ETFs are available that have exposure to Bitcoin, meaning one can finally buy/sell BTC via their traditional stonks accounts and it has attracted a lot of big name investors.
I have/had high hopes for Web3 as a decentralized internet (Silicon Valley show?) is one of the best tools to thwart oppressive governments and have much more autonomy over your data, privacy, and money. However, 5+ years in and not much has caught. Internet took about a decade+ to become ubiquitous, so who knows.