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Crypto is an area of startups that HN collectively is wholly ignorant of because of a rabid and devoted group that despises anything related to blockchain and c

Crypto is an area of startups that HN collectively is wholly ignorant of because of a rabid and devoted group that despises anything related to blockchain and crypto. It has driven crypto enthusiasts away from commenting, allowing the downvote brigade to take over. There are deep-pocketed investors, talented developers, and very intelligent people in this space (but you won't find them commenting here).

3pt14159 5y ago
Because we do not see the value. I was into crypto really early and I was slowly more and more disgusted what it supported in society. Constant exit scams, criminals using it evade the law, etc. And on the other side, you had to be so freaking careful to actually use the thing yourself without losing all your money. Hardware wallets, backup passwords, whatever. It's not cool to worry about whether or not you still have your hundreds of thousands of dollars or not. It's not fun trying to figure out if you can trust Coinbase or if they're the next MtGox. And besides, if you're trusting one of these players anyway then what is the point? Wasn't this supposed to be about privacy and getting away from centralized banking in the first place? I just don't see any upside. I made my 200x return or whatever it was and I'm out. If I start to see actual products solving real problems that honest citizens in non-sanctioned countries have, I'll revaluate my position.
- bouncycastle 5y ago
  "non-sanctioned countries"? The majority of citizens living in sanctioned countries are honest and have their country sanctioned against their will, but cannot say anything against their government. Why should they get punished for something that's due to their plight? They deserve freedom like all human beings. Anyway, I think the real danger is if our societies move to 100% cashless. Crypto provides a good counterbalance where we get to retain the benefits of cash while going electronic - if you're looking for any benefit, I think this is it.
  - 3pt14159 5y ago
    They do deserve freedom in a broader sense, yes, but the world is unfortunate and sanctions are how we discourage war. Most of the time sanctions are targeted to individuals or corporations, but there are cases where it is country-wide.
    - bouncycastle 5y ago
      > sanctions are how we discourage war Sanctions are war. Although I'm not sure it's working. North Korea has been going for many decades and sanctions have not managed to do anything except stimulate urgency and motivation for them to continue the hegemony. Anyway, in the cause sanctioning individuals such as criminals, then I have no problem with that. However, I think these should be under the control of decentralized systems where there's less opportunity to abuse, co-opt and involve the general consensus of the entire society rather than a few powerful individuals. We have to make sure that such tools are never turned around and used against us. Crypto gives us some hope to guard against that, as we transition to a cashless society.
      - imtringued 5y ago
        I'm pretty sure they don't work. Citizens don't care why you are making their lives worse, they just know that you are making it worse. The authoritarian leader just needs to make some concessions and he has secured his voter base (assuming he pretends such a thing exists).
- emouryto 5y ago
  Wow, wish I made 200x return!
bouncycastle 5y ago
I've got some mod points to burn, so let them bring it on!
imtringued 5y ago
Most cryptocurrencies are just a fallback for the actual financial system. It's basically electronic money for black markets. Evading government control is pretty much it's raison d'etre. The idea that you "invest" into this is only possible if you either keep recruiting members like a pyramid scheme or you bet on the collapse of the financial system. These two positions aren't healthy. Even if the latter turns out to be true in the end, I would rather see a patch to the centralized financial system.
deleted 5y ago
[deleted]

3pt14159 5y ago

Because we do not see the value. I was into crypto really early and I was slowly more and more disgusted what it supported in society. Constant exit scams, criminals using it evade the law, etc. And on the other side, you had to be so freaking careful to actually use the thing yourself without losing all your money. Hardware wallets, backup passwords, whatever. It's not cool to worry about whether or not you still have your hundreds of thousands of dollars or not. It's not fun trying to figure out if you can trust Coinbase or if they're the next MtGox. And besides, if you're trusting one of these players anyway then what is the point? Wasn't this supposed to be about privacy and getting away from centralized banking in the first place? I just don't see any upside. I made my 200x return or whatever it was and I'm out. If I start to see actual products solving real problems that honest citizens in non-sanctioned countries have, I'll revaluate my position.

bouncycastle 5y ago
"non-sanctioned countries"? The majority of citizens living in sanctioned countries are honest and have their country sanctioned against their will, but cannot say anything against their government. Why should they get punished for something that's due to their plight? They deserve freedom like all human beings. Anyway, I think the real danger is if our societies move to 100% cashless. Crypto provides a good counterbalance where we get to retain the benefits of cash while going electronic - if you're looking for any benefit, I think this is it.
- 3pt14159 5y ago
  They do deserve freedom in a broader sense, yes, but the world is unfortunate and sanctions are how we discourage war. Most of the time sanctions are targeted to individuals or corporations, but there are cases where it is country-wide.
  - bouncycastle 5y ago
    > sanctions are how we discourage war Sanctions are war. Although I'm not sure it's working. North Korea has been going for many decades and sanctions have not managed to do anything except stimulate urgency and motivation for them to continue the hegemony. Anyway, in the cause sanctioning individuals such as criminals, then I have no problem with that. However, I think these should be under the control of decentralized systems where there's less opportunity to abuse, co-opt and involve the general consensus of the entire society rather than a few powerful individuals. We have to make sure that such tools are never turned around and used against us. Crypto gives us some hope to guard against that, as we transition to a cashless society.
    - imtringued 5y ago
      I'm pretty sure they don't work. Citizens don't care why you are making their lives worse, they just know that you are making it worse. The authoritarian leader just needs to make some concessions and he has secured his voter base (assuming he pretends such a thing exists).
emouryto 5y ago
Wow, wish I made 200x return!

bouncycastle 5y ago

I've got some mod points to burn, so let them bring it on!

imtringued 5y ago

Most cryptocurrencies are just a fallback for the actual financial system. It's basically electronic money for black markets. Evading government control is pretty much it's raison d'etre. The idea that you "invest" into this is only possible if you either keep recruiting members like a pyramid scheme or you bet on the collapse of the financial system. These two positions aren't healthy. Even if the latter turns out to be true in the end, I would rather see a patch to the centralized financial system.

deleted 5y ago

[deleted]