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There is a strong bias against scams in general, let alone multi-billion dollar scams.

by jfghi 3y ago

matheusmoreira 3y ago
I would agree if the bias was against the shitcoin casino game where you play to see who can rugpull the fastest. The truth is HN hates even proper cryptocurrencies like BTC, ETH, XMR.
- nradov 3y ago
  No, That's misinformation. There are actually no "proper" cryptocurrencies.
  - cypress66 3y ago
    I'll bite. What would a proper cryptocurrency be?
    - AlexCoventry 3y ago
      Using cryptographic signatures and distributed systems theory to authenticate asset transfers is against natural law. It's in Leviticus.
      - jerry1979 3y ago
        Pardon my ignorance, but what do you mean by "it's in Leviticus"?
        cypress66 3y ago
        Leviticus is a part of the Bible/Torah. It's just a joke obviously, implying that crypto technology is simply against both nature and the writings of thousands years old religious texts.
        AlexCoventry 3y ago
        Thanks for explaining that. was also jokingly implying that the technical foundations of crypto must be disgusting, via Leviticus being associated with purity laws.
  - matheusmoreira 3y ago
    Yes, there are. Actual cryptocurrencies: BTC, ETH, XMR. They have an actual blockchain and serve a purpose. Improper cryptocurrencies are tokens built on top of actual cryptocurrencies. All those shitcoins are just tokens implemented as Ethereum Virtual Machine code.
    - afavour 3y ago
      Bitcoin theoretically serves a purpose (if you can stand its delays in settling transactions, which rules out in person stuff) but let’s be real: the vast majority of cryptocurrency use is speculation, not purchase transactions.
      - matheusmoreira 3y ago
        > the vast majority of cryptocurrency use is speculation, not purchase transactions That doesn't deny its purpose though. I've gotten paid via XMR for programming tasks. Anonymously, even. The fact people treat cryptocurrencies like stocks doesn't nullify that. The truth is the true source of all problems in this space is the exchanges themselves. They are literally unregulated banks in disguise. Cryptocurrencies should not be regulated at all but exchanges definitely should be.

There is a strong bias against scams in general, let alone multi-billion dollar scams.

by jfghi 3y ago

There is a strong bias against scams in general, let alone multi-billion dollar scams.

I would agree if the bias was against the shitcoin casino game where you play to see who can rugpull the fastest. The truth is HN hates even proper cryptocurrencies like BTC, ETH, XMR.

nradov 3y ago
No, That's misinformation. There are actually no "proper" cryptocurrencies.
- cypress66 3y ago
  I'll bite. What would a proper cryptocurrency be?
  - AlexCoventry 3y ago
    Using cryptographic signatures and distributed systems theory to authenticate asset transfers is against natural law. It's in Leviticus.
    - jerry1979 3y ago
      Pardon my ignorance, but what do you mean by "it's in Leviticus"?
      - cypress66 3y ago
        Leviticus is a part of the Bible/Torah. It's just a joke obviously, implying that crypto technology is simply against both nature and the writings of thousands years old religious texts.
        AlexCoventry 3y ago
        Thanks for explaining that. was also jokingly implying that the technical foundations of crypto must be disgusting, via Leviticus being associated with purity laws.
- matheusmoreira 3y ago
  Yes, there are. Actual cryptocurrencies: BTC, ETH, XMR. They have an actual blockchain and serve a purpose. Improper cryptocurrencies are tokens built on top of actual cryptocurrencies. All those shitcoins are just tokens implemented as Ethereum Virtual Machine code.
  - afavour 3y ago
    Bitcoin theoretically serves a purpose (if you can stand its delays in settling transactions, which rules out in person stuff) but let’s be real: the vast majority of cryptocurrency use is speculation, not purchase transactions.
    - matheusmoreira 3y ago
      > the vast majority of cryptocurrency use is speculation, not purchase transactions That doesn't deny its purpose though. I've gotten paid via XMR for programming tasks. Anonymously, even. The fact people treat cryptocurrencies like stocks doesn't nullify that. The truth is the true source of all problems in this space is the exchanges themselves. They are literally unregulated banks in disguise. Cryptocurrencies should not be regulated at all but exchanges definitely should be.