Honestly... Cryptocurrency just seems like a bunch of stocks tracking the potential for cryptocurrency, rather than actually being used for anything else to their purpose.
I don't know of we've moved the needle at all towards an actually useful currency, but I'll take my money and donate it to something when the market turns.
@funnylookinhat right now cryptocurrency is an asset, not a currency. To use it as a currency you have to transfer it back to whatever fiat currency is used locally. What would have to happen to make it a currency would be broad acceptance at marketplaces of that cryptocurrency. Listing things for x amount of bitcoin not x amount of dollars. We're very far away from that.
@funnylookinhat We should just call them “cryptostocks” at this point, because the word “currency” implies... y’know... stability? It won’t be a currency until people are comfortable writing and signing leases for X BTC/month, and the like.
As for me, it's incorrect to call it stocks. Cryptocurrency is speculative, completely based on supply and demand (hype). But stocks are based on company's results first of all. Crypto is much more volatile than stocks also. Stocks may go up and down in the short time, but there's long-term support.
So crypto cannot be compared to traditional currency and stocks. It's just speculative thing now. However I got from it several dicker of dollars
@funnylookinhat There's also the part about wasting ever increasingly enormous amounts of energy and hardware just to keep the system going.
Fosstodon is an English speaking Mastodon instance that is open to anyone who is interested in technology; particularly free & open source software.