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A comment on Ask HN: Anyone lost a lot of money with NFTs/Cryptos? What's your story?. Parent comment

Re:Ask HN: Anyone lost a lot of money with NFTs/Cryptos? Wha... by Yizahi on Tuesday October 24, 2023 @11:54AM (#38000948)
We knew about casinos even longer. It doesn't compel us to go all-in on zero. And from the technical point of view bitcoin was maybe an interesting idea for the few early ears, and then it was clear that it failed for any legitimate use. It was true 10 years ago and still true today.
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Re:Ask HN: Anyone lost a lot of money with NFTs/Cryptos? Wha... by ipaddr on Tuesday October 24, 2023 @12:30PM (#38001540)
Plenty of legitimate uses exist today. It didn't go mainstream and replace your debit/visa card.
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Re:Ask HN: Anyone lost a lot of money with NFTs/Cryptos? Wha... by Yizahi on Wednesday October 25, 2023 @04:05AM (#38010420)
Nope. The only actually working use case for bitcoins (and all other tokens too) is law avoidance. For that, sure, it is great. Transferring sums across borders without complying with AML laws and without declaring them (so law avoidance), receiving salary in tokens and not paying taxes (law avoidance), paying bribes (law avoidance), buying forbidden shit (law avoidance) and the list goes on. None of those are legit use cases. And for legit ones bitcoin is simply not competitive due to atrocious performance and user experience. PS: before you say Lightning - that is not a bitcoin, but a new centralized system which completely reneges on the decentralization promise and is still shitty, with idiotic channels and rules about them.
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