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> But that’s so easy to say after the fact. HN was almost always negative about the crypto currency hype. Even when shitcoins were at ATH. So, no. The criticis
by unmole 4y ago
> But that’s so easy to say after the fact.
HN was almost always negative about the crypto currency hype. Even when shitcoins were at ATH. So, no. The criticism is not after the fact.
> If these people really could foresee these events happening, then they could have made a lot of money by taking short positions.
Markets can stay irrational longer than you can stay solvent has been a cliche for almost a century. That is to say nothing of the absurd cost of taking a short position and the counterparty risk of dealing with unregulated exchanges.
> As far as I’m concerned, you don’t say anything unless you put your money where your mouth is.
The motivation for a lot of us was to prevent our less sophisticated friends and family from blowing up their savings. The idea that one shouldn't be critical of obvious scams unless one has a financial interest in them is not a particularly well thought out take.
- dubswithus 4y agoY Combinator was an investor in Coinbase and other crypto startups. Sam Altman personally invested in Worldcoin. You are posting on a forum of an incubator that supports crypto. The irony.
- MBCook 4y agoIf VCs think they can make money in the next pet rock, they’ll try. It doesn’t make pet rocks an important or useful product. Just something people can make money on.
- dubswithus 4y agoMost products aren’t important or useful. The public uses them because, well, it’s complicated.
- unmole 4y agoIt's almost as if YC and HN users have entriely different incentives and opinions. Shocking.
- dubswithus 4y agoHave you seen the comments when one of Paul Graham’s essays is posted? Isn’t it kind of strange to be hanging on a VC funded forum that supports crypto?
- deleted 4y ago[deleted]
- alphabettsy 4y ago> Y Combinator was an investor in Coinbase and other crypto startups. This doesn’t necessarily indicate anything other than that they believed the business could make money. They also invest in traditional banking startups. Even that isn’t necessarily a contradiction with crypto investments.