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Cryptocurrency is just an attempt by fraudsters to repeat all of the previous scams on a brand new banking system. It turns out there’s actually a reason we hav

Cryptocurrency is just an attempt by fraudsters to repeat all of the previous scams on a brand new banking system. It turns out there’s actually a reason we have so many laws.

reocha 4y ago
Unsurprisingly these regulations exist for a reason.
- ssnistfajen 4y ago
  Crypto bros looked at the Free Banking Era of the U.S. and unironically thought that would be great to live through. Unsurprisingly they are the exact demographic who would fantasize that era of the United States as a good time to live in.
- sschueller 4y ago
  Yes, what crypto doesn't have that fiat has is the government bailing them out when you convinced them that you are not system relevant and gamble to a point of failure just to then be considered system relevant. /s
  - mrguyorama 4y ago
    You are just purposely ignoring the DAO then, or everything tether does
HN_is_for_gemes 4y ago
What's the scam? I've used Bitcoin once a week at least since 2013. I put a lot of my hard earned money into it back then, it went up, and for the last 5-6 years when I need a little extra cash for a car, girlfriends mortgage payment, vacation, etc. I sell a little BCH or buy stuff on Amazon through https://Purse.io https://Purse.io at a 10-25% discount, plus the buyers usually have Prime so I don't even have a use for a Prime subscription anymore :) Who did I scam? Bitcoin is digital cash, nothing more nothing less. If someone hurt you using a digital currency I'm sorry but don't take it out on the very concept of digitizing money.
psychlops 4y ago
If only cryptocurrency could have created all the necessary global laws in addition to a banking system. Too bad it wasn't perfect upon creation.
agumonkey 4y ago
Every once in a while a new space opens, wiped of all memory of the previous space. Free flowing energy .. and free to learn it all all over again.
dang 4y ago
Ok, but please don't post generic flamewar comments to HN. We've been through this a thousand times and repetition is basically the worst thing for curiosity—especially when combined with indignation. That's the toxic cocktail. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html

Cryptocurrency is just an attempt by fraudsters to repeat all of the previous scams on a brand new banking system. It turns out there’s actually a reason we have so many laws.

reocha 4y ago

Unsurprisingly these regulations exist for a reason.

ssnistfajen 4y ago
Crypto bros looked at the Free Banking Era of the U.S. and unironically thought that would be great to live through. Unsurprisingly they are the exact demographic who would fantasize that era of the United States as a good time to live in.
sschueller 4y ago
Yes, what crypto doesn't have that fiat has is the government bailing them out when you convinced them that you are not system relevant and gamble to a point of failure just to then be considered system relevant. /s
- mrguyorama 4y ago
  You are just purposely ignoring the DAO then, or everything tether does

HN_is_for_gemes 4y ago

What's the scam? I've used Bitcoin once a week at least since 2013. I put a lot of my hard earned money into it back then, it went up, and for the last 5-6 years when I need a little extra cash for a car, girlfriends mortgage payment, vacation, etc. I sell a little BCH or buy stuff on Amazon through https://Purse.io https://Purse.io at a 10-25% discount, plus the buyers usually have Prime so I don't even have a use for a Prime subscription anymore :) Who did I scam? Bitcoin is digital cash, nothing more nothing less. If someone hurt you using a digital currency I'm sorry but don't take it out on the very concept of digitizing money.

psychlops 4y ago

If only cryptocurrency could have created all the necessary global laws in addition to a banking system. Too bad it wasn't perfect upon creation.

agumonkey 4y ago

Every once in a while a new space opens, wiped of all memory of the previous space. Free flowing energy .. and free to learn it all all over again.

dang 4y ago

Ok, but please don't post generic flamewar comments to HN. We've been through this a thousand times and repetition is basically the worst thing for curiosity—especially when combined with indignation. That's the toxic cocktail. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html