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> I can't mention the sub sector which I see as most hyped of all (Forum rules). But when the tide goes out in VC funding, you will find some real flotsam & jet

> I can't mention the sub sector which I see as most hyped of all (Forum rules). But when the tide goes out in VC funding, you will find some real flotsam & jetsam left on the beach. It won't smell pretty. Does it rhyme with sockchain?

formerkrogemp 4y ago
The whole thing stinks. Cryptocurrency is a scam. SPACs are mostly a scam. Our American economy is basically just moving boxes back and forth and showing ads.
silentsea90 4y ago
Never understood the HN hate for BTC (not crypto as a whole which has plenty of scamming). If after 12 years you don't get it, I suppose you never will. Oh no, downvotes. Shocking.
- ProjectArcturis 4y ago
  If after 12 years no one can come up with a use for BTC beyond speculation and crime, I suppose they never will.
  - silentsea90 4y ago
    BTC is sound money, even if not yet as widely used for transactions yet. We literally have the worst inflation in 40 years with the likes of Janet Yellen admitting they were wrong about 'transitory inflation', and yet we're good with Central Banks being allowed to dilute money. I encourage you to read about why Bitcoin makes sense as the ultimate store of value that fiat is pegged against. The book called The Bitcoin Standard is a great read.
- ehnto 4y ago
  I imagine OP was talking about the odd marriage of crypto tech and VC business, which as you also noted, is a shitshow. But even though I do see value in BTC, it is hardly going well, and I don't mean the price.
  - silentsea90 4y ago
    Yes and no. I agree it is taking it's time to be used for transactions, but countries adopting it as legal tender is HUGE. So many payment apps (Venmo, Cash app etc) have adopted it as a medium of exchange. I would have liked it to be used more widely and am hopeful that lightning will get us there in due course of time, but I don't know with certainty what that path might look like.
- MrMan 4y ago
  POW is what I hate not BTC itself, but they are inextricably linked.

formerkrogemp 4y ago

The whole thing stinks. Cryptocurrency is a scam. SPACs are mostly a scam. Our American economy is basically just moving boxes back and forth and showing ads.

silentsea90 4y ago

Never understood the HN hate for BTC (not crypto as a whole which has plenty of scamming). If after 12 years you don't get it, I suppose you never will. Oh no, downvotes. Shocking.

ProjectArcturis 4y ago
If after 12 years no one can come up with a use for BTC beyond speculation and crime, I suppose they never will.
- silentsea90 4y ago
  BTC is sound money, even if not yet as widely used for transactions yet. We literally have the worst inflation in 40 years with the likes of Janet Yellen admitting they were wrong about 'transitory inflation', and yet we're good with Central Banks being allowed to dilute money. I encourage you to read about why Bitcoin makes sense as the ultimate store of value that fiat is pegged against. The book called The Bitcoin Standard is a great read.
ehnto 4y ago
I imagine OP was talking about the odd marriage of crypto tech and VC business, which as you also noted, is a shitshow. But even though I do see value in BTC, it is hardly going well, and I don't mean the price.
- silentsea90 4y ago
  Yes and no. I agree it is taking it's time to be used for transactions, but countries adopting it as legal tender is HUGE. So many payment apps (Venmo, Cash app etc) have adopted it as a medium of exchange. I would have liked it to be used more widely and am hopeful that lightning will get us there in due course of time, but I don't know with certainty what that path might look like.
MrMan 4y ago
POW is what I hate not BTC itself, but they are inextricably linked.