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Ask HN: Why do negative crypto articles dominate on HN?

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Re: Ask HN: Why do negative crypto articles dominate on HN?

#122

Earlier quoted context omitted.

Good worthwhile valuable things were actually created on the web in the late nineties. The bubble was that they just didn't live up to the speculative financial hype. The problem with crypto is that all that it is is speculative financial hype. The entire worth of crypto is a bet on its future utility. The difference between the dot com bubble and web3 is that there is no web3 craigslist or geocities or usenet or alt…

> Good worthwhile valuable things were actually created on the web in the late nineties. And good worthwhile things are being created in the cryptocurrency/blockchain space now. Likewise, there was a lot of useless bullshit on the Web in the 90's, and a lot of useless bullshit in the blockchain space today. And likewise, there were a lot of pre-Web "experts" making the Web out to be some passing fad due to all the bu…

> good worthwhile things are being created in the cryptocurrency/blockchain space now

like what?

Re: Ask HN: Why do negative crypto articles dominate on HN?

#123
No, you are not a dumb ass.

I wonder this all the time. I admit I've come to some pretty negative conclusions about "tech" and "tech workers" as a result. There are so many problems with access to traditional financial systems that are completely ignored by those who the system was built for...that if I were to try and list them all...everyone would just shrug and say "oh, well, that's just the way it is" which basically means "since I personally don't suffer from those issues, I don't give a damn that you do and it's easier for me to just blow you off than to waste my precious time fixing something that causes you pain and suffering." Which, of course, is exactly the problem. There is no incentive for those who suffer no damage to assist those who do.

The scariest people are those who constantly try and smash crypto for things that haven't been built yet. To me, it's no different than saying "Well the Wright Brothers haven't yet built/flown/proven that flight is possible so I'll just consider them frauds and idiots. Forever." Or Edison keeps insisting that this thing he's working on called a "light stick" will be better than that nasty oil that Rockefeller is pitching but since he can't make it work yet, it'll never exist. And he is a fraud too. Or Berners-Lee keeps talking about hooking all these systems together and Andreesen keeps talking about making easier to interact with it....you get my point.

VC Tomasz Tunguz of Redpoint Capital just wrote a blog post about the scarcity of engineers in the Web3 space: https://tomtunguz.com/programming-languages-web3/. I've included the link so you can read it for yourself. But to me the issue seems related to engineers not wanting to learn new languages or upset their heavily laden, golden apple-filled carts. If everything is going lovely right now and the company pays me top dollar (and does my laundry, provides chef cooked meals, bicycles, gyms etc etc) to basically sit and type all day, why would I want to learn a new language and possibly not hit the Unicorn in the side with my poisoned darts??? The new web will wait or if I talk it down enough it might just disappear all together.

But we-those of of who can't get mortgages because we chose a different neighborhood than the banks would like or who are a different color/gender/whatever than the bank (ie: the system) would like have seen the new horizon and have seen what's possible: a window to a different experience. One where we get to set the terms and offer them to a marketplace. Which, by the way, also hasn't been built yet and the marketplace gets to say "yea" or "nea" and where things can be negotiated to the benefit of both.*

So I'd say the rabbit isn't going back into hat-Thank Goodness. But I also think that all the best things that haven't been built yet won't be built by members of this community.

Re: Ask HN: Why do negative crypto articles dominate on HN?

#125

Earlier quoted context omitted.

I don't know what any of that is. I always pay cash. When I say bitcoin, I mean literal coins.

usdc is a digital token backed by usd available on many blockchains. you can buy a few usdc tokens and pay for coffee using them seamlessly.

My coffee shop doesn't accept coins at all be it usdc or whatever. When I wave over a POS terminal, are these USDC converted to USD on the spot like a bank transaction?

Re: Ask HN: Why do negative crypto articles dominate on HN?

#126

Earlier quoted context omitted.

> Good worthwhile valuable things were actually created on the web in the late nineties. And good worthwhile things are being created in the cryptocurrency/blockchain space now. Likewise, there was a lot of useless bullshit on the Web in the 90's, and a lot of useless bullshit in the blockchain space today. And likewise, there were a lot of pre-Web "experts" making the Web out to be some passing fad due to all the bu…

> good worthwhile things are being created in the cryptocurrency/blockchain space now like what?

Aaand the answer to your completely reasonable question seems to be:

Re: Ask HN: Why do negative crypto articles dominate on HN?

#127

Earlier quoted context omitted.

So you are saying we will see crypto crash in 2-3 years? We are living in times were onboarding is the fastest and is getting faster all the time. TikTok first to 100 Million users was 1000x faster than Facebook. I strongly believe you have it in reverse.

> So you are saying we will see crypto crash in 2-3 years? It's already crashed a couple times now. Each time it did, it came back a couple years later stronger than ever.

dotcom dipped and recovered all the time before the big crash... it was joke.

Re: Ask HN: Why do negative crypto articles dominate on HN?

#128
post #12

Because HN readers skew more technologically literate, people here are on average (slightly) more capable of seeing though the techno-babble hype than on other social media sites. It's not that the financial status quo is held in high regard, rather that HN readers see crypto's empty promises to fix existing issues for what they are: bullshit designed to lure in ever more dumb money.

I came here to write exactly this but you put it so perfectly I did not have to. Thank you for making me feel like I am not alone. Sometimes I do get a bit depressed that maybe I’m the only one who can see all the BS.

You are definitely not alone in that. But at times the people who want to hype cryptocurrencies manage to shout higher than us critics.

Re: Ask HN: Why do negative crypto articles dominate on HN?

#129
post #17

Earlier quoted context omitted.

> The key is that they can look at the ledger, but not alter the ledger. This is only true if you think governments are not capable of pulling off a 51% attack. It would absolutely be feasible for a few of the world powers to pull it off, if not a single world power.

Theoretically I can stand up a mining operation in my apartment. That means that the 51% attack (as long as it can be detected) can be thwarted by folks at the grass roots level (as long as they actually care). Am I wrong about this?

You are practically wrong about this - the number of people who need to notice and attempt to a 51% attack is enormous ... and not possible to do after the fact

Before the fact? Sure - but then the 51% issue doesn't happen, and you get to precrime

Re: Ask HN: Why do negative crypto articles dominate on HN?

#130

From what I remember, Hacker News enjoyed crypto discussions in its very early days (early 2010's) when it was just bitcoin and a small number of technologists discussing it. I think I noticed a turning point when it became more mainstream and rebranded to "web3". The nonstop hyping of NFT's and "web3 is the future" and "web3 will make web2 obsolete" takes on Twitter has gotten a bit annoying. This is coming from som…

I agree with this perspective. For me the turning point was when "influencers" started to make their own coinage.
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