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HN hates crypto because the perception at least is that people making money in crypto are just gambling and/or riding a Ponzi scheme bubble. HN likes people who
by api 4y ago
HN hates crypto because the perception at least is that people making money in crypto are just gambling and/or riding a Ponzi scheme bubble. HN likes people who make money by actually creating value.
HN also tends to hate conventional fiat currency based financial capitalism for the same reason.
- beezlewax 4y agoCoinbase and their ilk are banks. They've centralized the decentralized. It is hilarious.
- meltyness 4y agoPerhaps this is the new university, we're not a post-idea economy, and once unleashed, commodity software is immutable. Like the calculus, the crypto banks will unleash their ideas and vanish leaving only what is understood good and true.
- AISnakeOil 4y agoExactly, there's no difference between Coinbase and Bank of America.
- tylersmith 4y agoThey have not centralized things that were previously decentralized. They've created new centralized things that provide services at the edges of the decentralized stuff.
- TylerE 4y agoI dunno if you can really call VC exit worship as 'creating value'.
- api 4y agoThere's a fair amount of skepticism around here toward sky-high valuations. Find any article on Softbank.