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Crypto hasn't really passed. It's just not talked about on HN anymore. It is still a massive industry but they have dropped the rhetoric of democratising banking and instead let you use cryptocurrency to do things like betting on US invading Venezuela and so on.

By "passing" the GP presumably meant that the fad phase has passed. The hype cycle has reached the natural plateau of "I guess this has some use cases" (though in this case mostly less-than-scrupulous ones).

Blockchain as a vehicle for immutable data has passed. Crypto has given up pretending it's anything other than a financial vehicle for gambling.

Also, the recruitment attempts I've gotten from crypto have completely disappeared compared to the peak (it's all AI startups now).

No one can really figure out what legitimate uses crypto has that can't be covered by normal payment systems.

Everyone can immediately see how useful AI is, and tons of people are using it. Pretending it will pass would be like saying the Internet was a fad in 1997.

Maybe now "crypto" can go back to meaning cryptography.