this post was submitted on 20 May 2024
1598 points (97.2% liked)
Technology
59427 readers
4429 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Let's not forget that crypto also enable wide deployment of ransomwares (which was not possible due to the lack of untraceable online payment at scale), while less and less ecommerce platform allow crypto payment. If this trend continues, eventually no one would use crypto except for speculation and paying off ransom.
Even online crime often settles with gift cards though because it's too much of a hassle to explain to the Average Joe how to setup an account and buy and transfer crypto-tokens.
Scams are not much affected by cryptocurrency existence, but ransomware existence specifically relies on crypto for scaling reason. They infect millions of computers, the ransoms are being handled automatically because it's way too much to be handled manually with gift cards.
The internet has far more beneficial uses than malicious uses. We currently can't say the same with cryptocurrency due to its diminishing utility.
What's the use of money if not for paying stuff? In the early days, a lot more shops (online and offline) accept crypto payments. These days it's mostly vpn companies that accept them.