I don’t think they’re useless, but most of the hype was.
Stablecoins clearly solved a real cross-border settlement problem, and some public chains found niche but legitimate use cases.
But the majority of crypto projects were still scams or unnecessary. My view is basically: useful at the infrastructure layer, mostly noise at the application layer.
> Since then, many corporations, governments, Wall St, and central banks have begun adopting public blockchains, especially Ethereum, and stablecoins.
Do you have actual examples other than companies enabling speculation or worse when they can safely take a cut? PayPal "adopted" crypto (and by extension blockchain) in the sense they will let me buy and sell for a fee. I see that as analogous to a grocery store selling cigarettes -- they haven't "adopted" or endorsed tobacco, they just sell it because they can make money.
Just because Wall Street and Silicon Valley are still embracing blockchains, 'stablecoins' and other scammy crypto products, doesn't mean it has any legitimate usecase today or in the future.
Crypto, blockchains, stablecoins and the rest of them still cannot do better that what current system already does and is used primarily for speculative and criminal purposes.
I don’t think they’re useless, but most of the hype was. Stablecoins clearly solved a real cross-border settlement problem, and some public chains found niche but legitimate use cases. But the majority of crypto projects were still scams or unnecessary. My view is basically: useful at the infrastructure layer, mostly noise at the application layer.
> Since then, many corporations, governments, Wall St, and central banks have begun adopting public blockchains, especially Ethereum, and stablecoins.
Do you have actual examples other than companies enabling speculation or worse when they can safely take a cut? PayPal "adopted" crypto (and by extension blockchain) in the sense they will let me buy and sell for a fee. I see that as analogous to a grocery store selling cigarettes -- they haven't "adopted" or endorsed tobacco, they just sell it because they can make money.
IMO blockchains/crypto haven’t become more legitimate, it’s everything else that has lost legitimacy.
HN has been consistent that their only use-cases are the trading of speculative assets (gambling) and circumvention of law (crime).
Wall St. and the other entities you mentioned engage in one or both of these activities. That doesn't mean we should be cheering them on.
their trading tokens!...nough said
Yes. It is still a scam.
Just because Wall Street and Silicon Valley are still embracing blockchains, 'stablecoins' and other scammy crypto products, doesn't mean it has any legitimate usecase today or in the future.
Crypto, blockchains, stablecoins and the rest of them still cannot do better that what current system already does and is used primarily for speculative and criminal purposes.
Nothing has changed.