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For me the word cryptocurrency and scam are synonyms. And in my mind people defending it on the internet are inside the pyramid scheme and trying to justify the

by grudg3 4y ago

For me the word cryptocurrency and scam are synonyms. And in my mind people defending it on the internet are inside the pyramid scheme and trying to justify their investment. Just one of the many cancers affecting our current society.

gjs278 4y ago
senttoschool 4y ago
People here who are defending it benefit from the scams. Instead of working on projects that prevent scam using blockchains, they participate in it. You can work in crypto as long as you have no morals.
- tromp 4y ago
  As author of the Cuckoo Cycle Proof-of-Work puzzle [1] and core developer of a blockchain that offers zero financial rewards for its creators and early adopters, I strongly take issue with your characterization. I agree that most projects are cash grabs, but that's no excuse for insulting all developers without exception. [1] https://github.com/tromp/cuckoo https://github.com/tromp/cuckoo
  - arcticbull 4y ago
    So an intentionally-slow multi-player Excel game that wastes power without rewarding people financially.
    - ziddoap 4y ago
      I can pick just about any project that's appeared here or elsewhere and be just as uncharitable and miserable about it if I wanted to. What's your point? What does this add to the conversation?
  - halfmatthalfcat 4y ago
    Good for you but that doesn't detract from a majority of crypto/blockchain endeavors are complete scams. The well is poisoned and good riddance.
- z3c0 4y ago
  Maybe they just like to buy drugs on the internet.
cwkoss 4y ago
Whenever I see these takes, it just reads to me like "I know there are scams in the cryptocurrency world and am too lazy/disinterested to figure out which parts are the scammy parts, so I'm just going to cast the whole space as a scam and feel smug about it." There's a lot of scammy stuff in the cryptocurrency world, but why do so many people feel the need to pompously proclaim the whole thing is a scam when they clearly only have a shallow familiarity with the space? Is it sour grapes or jealousy?
- s1k3s 4y ago
  Please, name 1 single thing about it that isn't "scammy". Edit because I'm getting the same replies: Nobody's questioning the blockchain as a solution to a game theory problem - that's great, long live the blockchain. We're talking about crypto here though.
  - carlosdp 4y ago
    I'll name you several. Copied from another reply I made, here's some projects to check out: - Lens Protocol [https://lens.xyz/ https://lens.xyz/ (one example implementation: https://lenster.xyz/ https://lenster.xyz/)] is an early social network built on top of Polygon. - Farcaster [https://farcaster.xyz/ https://farcaster.xyz/] is another one, that takes a more hybrid approach of using Ethereum for trustless identity, but stores social stuff in a "sufficiently decentralized" way. - ENS [https://ens.domains/ https://ens.domains/] is a universal username system. - Unlock Protocol [https://unlock-protocol.com/ https://unlock-protocol.com/] uses NFTs for tradeable subscriptions, event tickets, etc. - Radicle [https://radicle.xyz/ https://radicle.xyz/] is a decentralized Github basically, that (optionally) uses Ethereum to store the Git HEAD of a "project" essentially. - Arweave [https://www.arweave.org/ https://www.arweave.org/] stores files permanently using a cool "endowment" mechanism. Currently, the network has secured its storage for like 1000 years in theory.
    - AlexandrB 4y ago
      > Currently, the network has secured its storage for like 1000 years in theory. Claims like this are ridiculous on their face. In 1000 years the cryptographic primitives used for this project will be obsolete and broken. That's if we're not all using quantum computers of some kind and "traditional" computing is a relic of the long past. As a result, why should I trust any other claims made about Arweave? Clearly the project has no sense of its own limitations.
curiousgal 4y ago
> our current society Well that's the thing though, shocking as it may be, there are other societies out there. Living in a Third World country with a controlled currency, Bitcoin was the only way I could actually buy things online. So yeah, to me, it does have an actual value. Disregarding something completely just because you don't think is useful is very shortsighted. It's akin to people thinking x programming language is complete trash.
- notch656a 4y ago
  So you mean you used to to break the law? What a glowing review, it's used by criminals like you to escape the currency controls. Once again proving bitcoin is the coin of choice for hardened violent criminals. Hope the crying drowning polar bears are worth the ruthless environmental damage you inflict. Edit: lol to the people not realizing this is intentional satire meant to poke fun at the meme-like representation of the stereotypical crypto-hater
  - jjulius 4y ago
    Yikes. Judge not, and such... Edit: And I say this as someone who's pretty much, "fuck crypto". OP said they're from a third world country and were vague with what they purchased and, especially, why. Yet you've painted them as an absolutely disgusting individual. Geez.
  - ziddoap 4y ago
    >Edit: lol to the people not realizing this is intentional satire meant to poke fun at the meme-like representation of the stereotypical crypto-hater It can be difficult to understand if something is sarcastic or satire when there is no tone of voice or facial cues to help. Especially when you don't exaggerate, and simply type out the same things as the group your satirizing. Maybe the only difference/give-away was the "crying" part of the polar bears. The rest is pretty much verbatim of some of the nastier comments I've seen in other threads.
    - notch656a 4y ago
dang 4y ago
Ok, but please don't repeat flamewar clichés in discussion here. This must surely be the biggest one of recent years and the flamewar has been repeated a thousand times already, if not more. Repetition to that degree is off-topic on HN (https://hn.algolia.com/?dateRange=all&page=0&prefix=false&sort=byDate&type=comment&query=curiosity%20repetition%20by:dang https://hn.algolia.com/?dateRange=all&page=0&prefix=false&so...). https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html p.s. For clarity: I'm not making an argument about cryptocurrency here. Just about HN threads.

by grudg3 4y ago

gjs278 4y ago

senttoschool 4y ago

People here who are defending it benefit from the scams. Instead of working on projects that prevent scam using blockchains, they participate in it. You can work in crypto as long as you have no morals.

tromp 4y ago
As author of the Cuckoo Cycle Proof-of-Work puzzle [1] and core developer of a blockchain that offers zero financial rewards for its creators and early adopters, I strongly take issue with your characterization. I agree that most projects are cash grabs, but that's no excuse for insulting all developers without exception. [1] https://github.com/tromp/cuckoo https://github.com/tromp/cuckoo
- arcticbull 4y ago
  So an intentionally-slow multi-player Excel game that wastes power without rewarding people financially.
  - ziddoap 4y ago
    I can pick just about any project that's appeared here or elsewhere and be just as uncharitable and miserable about it if I wanted to. What's your point? What does this add to the conversation?
- halfmatthalfcat 4y ago
  Good for you but that doesn't detract from a majority of crypto/blockchain endeavors are complete scams. The well is poisoned and good riddance.
z3c0 4y ago
Maybe they just like to buy drugs on the internet.

cwkoss 4y ago

Whenever I see these takes, it just reads to me like "I know there are scams in the cryptocurrency world and am too lazy/disinterested to figure out which parts are the scammy parts, so I'm just going to cast the whole space as a scam and feel smug about it." There's a lot of scammy stuff in the cryptocurrency world, but why do so many people feel the need to pompously proclaim the whole thing is a scam when they clearly only have a shallow familiarity with the space? Is it sour grapes or jealousy?

s1k3s 4y ago
Please, name 1 single thing about it that isn't "scammy". Edit because I'm getting the same replies: Nobody's questioning the blockchain as a solution to a game theory problem - that's great, long live the blockchain. We're talking about crypto here though.
- carlosdp 4y ago
  I'll name you several. Copied from another reply I made, here's some projects to check out: - Lens Protocol [https://lens.xyz/ https://lens.xyz/ (one example implementation: https://lenster.xyz/ https://lenster.xyz/)] is an early social network built on top of Polygon. - Farcaster [https://farcaster.xyz/ https://farcaster.xyz/] is another one, that takes a more hybrid approach of using Ethereum for trustless identity, but stores social stuff in a "sufficiently decentralized" way. - ENS [https://ens.domains/ https://ens.domains/] is a universal username system. - Unlock Protocol [https://unlock-protocol.com/ https://unlock-protocol.com/] uses NFTs for tradeable subscriptions, event tickets, etc. - Radicle [https://radicle.xyz/ https://radicle.xyz/] is a decentralized Github basically, that (optionally) uses Ethereum to store the Git HEAD of a "project" essentially. - Arweave [https://www.arweave.org/ https://www.arweave.org/] stores files permanently using a cool "endowment" mechanism. Currently, the network has secured its storage for like 1000 years in theory.
  - AlexandrB 4y ago
    > Currently, the network has secured its storage for like 1000 years in theory. Claims like this are ridiculous on their face. In 1000 years the cryptographic primitives used for this project will be obsolete and broken. That's if we're not all using quantum computers of some kind and "traditional" computing is a relic of the long past. As a result, why should I trust any other claims made about Arweave? Clearly the project has no sense of its own limitations.

curiousgal 4y ago

> our current society Well that's the thing though, shocking as it may be, there are other societies out there. Living in a Third World country with a controlled currency, Bitcoin was the only way I could actually buy things online. So yeah, to me, it does have an actual value. Disregarding something completely just because you don't think is useful is very shortsighted. It's akin to people thinking x programming language is complete trash.

notch656a 4y ago
So you mean you used to to break the law? What a glowing review, it's used by criminals like you to escape the currency controls. Once again proving bitcoin is the coin of choice for hardened violent criminals. Hope the crying drowning polar bears are worth the ruthless environmental damage you inflict. Edit: lol to the people not realizing this is intentional satire meant to poke fun at the meme-like representation of the stereotypical crypto-hater
- jjulius 4y ago
  Yikes. Judge not, and such... Edit: And I say this as someone who's pretty much, "fuck crypto". OP said they're from a third world country and were vague with what they purchased and, especially, why. Yet you've painted them as an absolutely disgusting individual. Geez.
- ziddoap 4y ago
  >Edit: lol to the people not realizing this is intentional satire meant to poke fun at the meme-like representation of the stereotypical crypto-hater It can be difficult to understand if something is sarcastic or satire when there is no tone of voice or facial cues to help. Especially when you don't exaggerate, and simply type out the same things as the group your satirizing. Maybe the only difference/give-away was the "crying" part of the polar bears. The rest is pretty much verbatim of some of the nastier comments I've seen in other threads.
  - notch656a 4y ago

dang 4y ago

Ok, but please don't repeat flamewar clichés in discussion here. This must surely be the biggest one of recent years and the flamewar has been repeated a thousand times already, if not more. Repetition to that degree is off-topic on HN (https://hn.algolia.com/?dateRange=all&page=0&prefix=false&sort=byDate&type=comment&query=curiosity%20repetition%20by:dang https://hn.algolia.com/?dateRange=all&page=0&prefix=false&so...). https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html p.s. For clarity: I'm not making an argument about cryptocurrency here. Just about HN threads.