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Most HN users are wealthy devs or they want to be wealthy devs or startup founders. They have no need for crypto and it threatens where their money is stored-
by JohnJamesRambo 5y ago
Most HN users are wealthy devs or they want to be wealthy devs or startup founders. They have no need for crypto and it threatens where their money is stored- equities and the traditional banking system. The “hackers” traded their soul for money.
It’s really no different than a wealthy old man hating crypto. He has no need for it, he doesn’t want others to use it to get past him. He sees no problem with the current wealth inequality because he is at the top.
- jshen 5y agoAnyone that thinks that crypto is somehow going to help fix inequality is delusional. If crypto isn’t a complete dud, which I think is likely, it will increase inequality.
- rank0 5y agoCrypto inequality is FAR worse than the traditional finance system, both in power and capital. A very small number of people control the protocols, network nodes, and hold the tokens themselves. The 100 richest ETH wallets own 25% of mined ETH. Many of those wallets are probably owned by the same person/organization. Switching to PoS will make inequality even worse. Some critics are definitely jelly about not hitting the crypto-lottery...but crypto is not a solution for wealth inequality.