this post was submitted on 21 Feb 2024
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A Bitcoin investor was recently scammed out of 9 Bitcoin (worth around $490K) in a fake “Exodus wallet” desktop application for Linux, published in the Canonical Snap Store. This isn’t the first time; if nothing changes, it likely won’t be the last.

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[–] [email protected] 30 points 8 months ago (2 children)

The problem with most crypto compared to regular money is that it's often seen as an investment. However, one of the most important factors for a currency that is used in everyday transactions is stability and predictability. Money is supposed to ease trading goods and services as a universal middleman. It's not supposed to make someone rich who invested first.

Of course there's also inflation and deflation with regular money but as soon as that's getting out of control, it typically leads to serious economic issues.

[–] [email protected] 2 points 8 months ago

Not to sound like a shill or anything but that's what's great about monero. Its actually used on a daily basis as money because it wasn't designed to be an investment vessel. Unlike most crypto currencies monero is one a few if not the only crypto currency that could suffer from inflation as there is an unlimited supply however this works out in avarage uses favor as there's no scarcity based value which means there's less speculation trading leading to a more stable price. I'm not sure what the long term effects of having an unlimited supply of monero is but their justification is that it's a predictable fixed ammount added which will prevent hyper inflation.

Once again I'm not a crypto shill, I'm literally saying investing in crypto is a bad idea and to only use it for it's utility.