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It's always jealousy. People see someone they view as "undeserving" doing better than themselves and react with hatred.

by mitchdoogle 5y ago

deleted 5y ago
[deleted]
R0b0t1 5y ago
You're not wrong but there's plenty of contemptuous cryptobros who got wealthy via luck and won't admit it.
- eric_cc 5y ago
  How exactly is it luck to recognize the value in crypto and buy a bunch? Because that's not exactly luck. That's recognizing value and managing risk successfully. It's true that some people just FOMO into anything going up. But those types will end up losing all their "gains" in due time anyways.
  - chii 5y ago
    > How exactly is it luck to recognize the value in crypto and buy a bunch? Because that's not exactly luck. that's what luck is - they didn't recognize the value, but speculated on the potential value when it originally was valueless. It could've crashed and burned, and it was luck that it didn't. It's like seeing a lotto ticket, and claiming that you recognized the value of it (after the ticket has been shown to be a winning one).
    - eric_cc 5y ago
      > It's like seeing a lotto ticket No, it’s nothing at all like that. The value of crypto was obvious very very early on. It was never going to crash and burn. Sure a black swan event could have wiped it out and still may. But based on what’s knowable, the value has been obvious since day 1 of bitcoin.
      - R0b0t1 5y ago
        Most of the people I'm lumping into this did not and usually still do not understand why or how cryptocurrencies can solve problems.
        grog454 5y ago
        This seems to be true of most people period. If there is a lump of people where a majority do understand crypto I haven't found it, possibly outside of tiny academic circles.
eric_cc 5y ago
This. A lot of comments in here spewing hatred toward crypto seem to come from a psychological defense mechanism. People were wrong and decided not to move to crypto and are now doubling down on that position to feel better about their poor choices.
- catillac 5y ago
  It doesn’t seem obvious that people who didn’t put money into cryptocurrencies were wrong. Even if you happened to through sheer luck buy low, sell high during one of the pops, that doesn’t mean everyone else was wrong any more than saying someone else was wrong for not playing roulette and selecting the right ending slot.
  - eric_cc 5y ago
    Your “buy low sell high” take is pretty short-sighted. For many, it’s a change in currency from fiat to digital. You on-ramp in but you don’t back out into fiat. You're speaking about a subset of crypto traders that go right back to fiat.
    - catillac 5y ago
      I assumed making money was your metric, but if the metric is “change in currency from fiat to digital” I would argue that after nearly fifteen years of little adoption for mainstream, lack of ability to use cryptocurrency for anything but black market goods and super niche products, and what seems like an utter chaotic ecosystem dominated by con artists, cryptocurrencies are a pretty abject failure on that metric as well.
      - eric_cc 5y ago
        > lack of ability to use cryptocurrency You can transact at any store that accepts credit cards with a crypto credit card. There are countless uses for blockchains now from DeFi, gaming, social networks, NFTs, entertainment streaming, DAO’s and decentralized governance, and on and on the list goes. I recommend you catch up to 2022 crypto if you don’t already know that.
ForHackernews 5y ago
I just want this environmental disaster to end. If they'd just outlaw proof-of-work cryptocurrencies, I'd shut up and you can continue gambling your proof-of-stake digital chuck-e-cheese tokens to your heart's content. But you're wasting more power than Argentina to do it. So yes, I hate this garbage and want it to fail.
- mickotron 5y ago
  I wonder how much energy YouTube or Facebook use compared to Bitcoin? We could argue that Facebook and YouTube are only providing entertainment value. They don't do anything especially novel or provide critical infrastructure. Rockets that deliver payloads into space are INCREDIBLY bad for the environment. But it provides critical services and infrastructure for now and the future. Bitcoin provides a novel, decentralised, secure, electronic digital currency. It's being used for that purpose currently. The FUD is unreal. We accept that certain use cases can persist and use tonnes of energy, but others we think is a crime against humanity. Use of energy should not be a measure of shame on its own. What use case is it providing now and in the future for that energy usage? The future will require a lot more energy for things we don't even know about yet. We need to ensure reliable renewable energy will provide for us now and in the future. We should not shut down new technologies just because it uses a lot of energy. When energy is cheap and clean and plentiful, we shouldn't worry about using it. Nuclear Fusion reactor technology currently uses much more energy than it provides in output. But when that technology is viable it will help us to produce reliable and clean energy. Should we outlaw nuclear fusion because it uses shitloads of energy for no benefit (currently)?
  - ForHackernews 5y ago
    Please educate yourself: PoW cryptocurrency is a red queen's race that is deliberately inefficient. I can't think of any other technology that continuously and deliberately wastes more and more energy. The only analogy I can even think of might be a nuclear arms' race: you have to keep building more and more missiles or there's a risk your enemy might get the jump on you. Any engineer worthy of the title should be appalled by this inept and abusive design.

It's always jealousy. People see someone they view as "undeserving" doing better than themselves and react with hatred.

deleted 5y ago

[deleted]

R0b0t1 5y ago

You're not wrong but there's plenty of contemptuous cryptobros who got wealthy via luck and won't admit it.

eric_cc 5y ago
How exactly is it luck to recognize the value in crypto and buy a bunch? Because that's not exactly luck. That's recognizing value and managing risk successfully. It's true that some people just FOMO into anything going up. But those types will end up losing all their "gains" in due time anyways.
- chii 5y ago
  > How exactly is it luck to recognize the value in crypto and buy a bunch? Because that's not exactly luck. that's what luck is - they didn't recognize the value, but speculated on the potential value when it originally was valueless. It could've crashed and burned, and it was luck that it didn't. It's like seeing a lotto ticket, and claiming that you recognized the value of it (after the ticket has been shown to be a winning one).
  - eric_cc 5y ago
    > It's like seeing a lotto ticket No, it’s nothing at all like that. The value of crypto was obvious very very early on. It was never going to crash and burn. Sure a black swan event could have wiped it out and still may. But based on what’s knowable, the value has been obvious since day 1 of bitcoin.
    - R0b0t1 5y ago
      Most of the people I'm lumping into this did not and usually still do not understand why or how cryptocurrencies can solve problems.
      - grog454 5y ago
        This seems to be true of most people period. If there is a lump of people where a majority do understand crypto I haven't found it, possibly outside of tiny academic circles.

eric_cc 5y ago

This. A lot of comments in here spewing hatred toward crypto seem to come from a psychological defense mechanism. People were wrong and decided not to move to crypto and are now doubling down on that position to feel better about their poor choices.

catillac 5y ago
It doesn’t seem obvious that people who didn’t put money into cryptocurrencies were wrong. Even if you happened to through sheer luck buy low, sell high during one of the pops, that doesn’t mean everyone else was wrong any more than saying someone else was wrong for not playing roulette and selecting the right ending slot.
- eric_cc 5y ago
  Your “buy low sell high” take is pretty short-sighted. For many, it’s a change in currency from fiat to digital. You on-ramp in but you don’t back out into fiat. You're speaking about a subset of crypto traders that go right back to fiat.
  - catillac 5y ago
    I assumed making money was your metric, but if the metric is “change in currency from fiat to digital” I would argue that after nearly fifteen years of little adoption for mainstream, lack of ability to use cryptocurrency for anything but black market goods and super niche products, and what seems like an utter chaotic ecosystem dominated by con artists, cryptocurrencies are a pretty abject failure on that metric as well.
    - eric_cc 5y ago
      > lack of ability to use cryptocurrency You can transact at any store that accepts credit cards with a crypto credit card. There are countless uses for blockchains now from DeFi, gaming, social networks, NFTs, entertainment streaming, DAO’s and decentralized governance, and on and on the list goes. I recommend you catch up to 2022 crypto if you don’t already know that.

ForHackernews 5y ago

I just want this environmental disaster to end. If they'd just outlaw proof-of-work cryptocurrencies, I'd shut up and you can continue gambling your proof-of-stake digital chuck-e-cheese tokens to your heart's content. But you're wasting more power than Argentina to do it. So yes, I hate this garbage and want it to fail.

mickotron 5y ago
I wonder how much energy YouTube or Facebook use compared to Bitcoin? We could argue that Facebook and YouTube are only providing entertainment value. They don't do anything especially novel or provide critical infrastructure. Rockets that deliver payloads into space are INCREDIBLY bad for the environment. But it provides critical services and infrastructure for now and the future. Bitcoin provides a novel, decentralised, secure, electronic digital currency. It's being used for that purpose currently. The FUD is unreal. We accept that certain use cases can persist and use tonnes of energy, but others we think is a crime against humanity. Use of energy should not be a measure of shame on its own. What use case is it providing now and in the future for that energy usage? The future will require a lot more energy for things we don't even know about yet. We need to ensure reliable renewable energy will provide for us now and in the future. We should not shut down new technologies just because it uses a lot of energy. When energy is cheap and clean and plentiful, we shouldn't worry about using it. Nuclear Fusion reactor technology currently uses much more energy than it provides in output. But when that technology is viable it will help us to produce reliable and clean energy. Should we outlaw nuclear fusion because it uses shitloads of energy for no benefit (currently)?
- ForHackernews 5y ago
  Please educate yourself: PoW cryptocurrency is a red queen's race that is deliberately inefficient. I can't think of any other technology that continuously and deliberately wastes more and more energy. The only analogy I can even think of might be a nuclear arms' race: you have to keep building more and more missiles or there's a risk your enemy might get the jump on you. Any engineer worthy of the title should be appalled by this inept and abusive design.