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From Crypto to Bank, money is nowhere safe :/

Chartered Accountant

From Crypto to Bank, money is nowhere safe :/- Grapevine

Crypto was promised to be the bane of fiat currency, evil central banks and centralised control over financial transactions. The more I understand it, the more it seems technically feasible and very much possible but practically difficult due to opposing forces.

The globally coordinated push for CBDCs (central banking digital currency) by central banks, government regulations on decentralised currencies as well as the loss of trust of investors and public in crypto seems to have put power right back into the hands of the already too powerful.

Will we ever see a world where currency isn't controlled by the powerful central banks and governments? Is it possible for decentralised currency to make a comeback at all?

Has the promise of cryptocurrency failed?

Pick your poison- 
 Fiat currency controlled by central banks backed by private equity and rich people 
 Vs 
 Cryptocurrency controlled by tech bros backed by private equity and rich people

Founder

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Let it all out. Use this thread as an outlet.

What’s bothering you?

Software Engineer

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Because you can't trust banks like Yes Bank, PMC etc , you should own immutable, counterparty-risk-free money like Bitcoin. Views?

SVB going down? India has seen more banks going down in recent times

- Indian crypto exchange WazirX experienced a security breach in one of its multisig wallets, leading to over $230 million in withdrawals.
- The exchange confirmed the breach and announced a temporary pause on INR and crypto withdrawals to ensure asset safety.
- The stolen funds represent over 45% of WazirX's $500 million holdings, with significant amounts in SHIB, ETH, MATIC, and PEPE.
- The exploiter is actively selling the stolen assets on Uniswap, holding over $4.2 million in FLOKI tokens.
- WazirX, popular among Indian traders, is one of the few FIU-registered exchanges in India, with recent trading volumes of $2.2 million. 

 Source: Coindesk

WazirX Faces Security Breach, Over $230 Million Withdrawn

Incoming crypto bro saying "Blockchain is unhackable"

Journalist

I have had so many conversations about AI with so many different people. These innovations and advancements are more scary than exciting. I am 25, and I love what I do, and I want more of it. I don't know guys, it's like either turn a blind eye to these events or start figuring out other stuff, because at the end I need to make money.

Devin and now Figure

Product Designer

Also, which digital assets in general are you bullish on and why?

Anyone tracking Bitcoin? What are your thoughts on recent price action?

Investor

What happened to web3 employees?

Product Manager

Is there any significant real world use case of Blockchain?
Apart from being a investment instrument that randomly goes up and down.

I think it may have some very very niche use cases, but not like what crypto marketing kids keep shouting. Trying to shove it everywhere.

It's been so long but still we haven't seen any real public product built with it, that does some real problem. Apart from all the scams.

I stil think it is a solution searching for a problem.


P.S.- I have written smart contract and other tech for NFT companies that made a ton of money during last bull run, so I know the ecosystem a bit.

What problem does Web3 solve?

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Almost 40 lakh Indians lost money to the WazirX hack and I feel this is not discussed much. Also no action from authorities. 

They just burned millions of Indians and there isn’t much notice. How it’s still operating? After all we pay taxes on crypto investments but there isn’t any regulation or protection? I mean why hell tax is for. 

This is just plain stupid. Finance Ministry is probably the most fuc*ed up ministry right now I think. 

Why the founder not in legal soup?

WazirX Hack - the shitstorm gonna hurt bad

Ai agents can use crypto as a payment method or as a currency.

From Crypto to Bank, money is nowhere safe :/

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