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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.
No, That's misinformation. There are actually no "proper" cryptocurrencies.
I'm perplexed that BTC's price dropped 5% yesterday and bounced right back today. How does the market not care that the biggest exchanges keep collapsing?
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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.
No, That's misinformation. There are actually no "proper" cryptocurrencies.
I'm perplexed that BTC's price dropped 5% yesterday and bounced right back today. How does the market not care that the biggest exchanges keep collapsing?
"How does the market not care vis-a-vis the gruelling recent pandemic, ongoing supply shocks, mounting climate change disasters, population curve declines, military instability ....... ?"
In Bitcoin's case, it needs be remembered that:
* Bitcoin as the original (and, in some ways, least sullied) crypto asset will have the greatest resilience
* Despite these exchanges having the greatest Trade Volumes, they are each only involved with a minority of the total global assets. That is, most Bitcoin that exists, has never touched Binance. Even more, most Bitcoin that exists, existed before Binance did.
* Markets aren't that predictable - attempting to trade a market in a buy/sell manner based upon whether today is a seeming Good News Day or Bad News Day ... well, if it was that easy, we'd all be doing it trivially
* The previous point is also adjunct to the fact that, for example, "obvious selling time" is most often leapt upon (with leverage) by amateur traders - whom the market then liquidates with a sudden contrary movement. A cynical manipulation certainly not unique to crypto markets, but yes absolutely ripe for them.
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No, That's misinformation. There are actually no "proper" cryptocurrencies.
I'll bite. What would a proper cryptocurrency be?
Once again the use-case for crypto turns out to be... large scale criminality and fraud. Shocker.
Exactly, nobody needs encryption anyways. Cryptography is a waste of energy and is bad for the environment. All it’s used for is planning terrorist attacks and Russian military invasions. We should simply use state communication channels and require third party messengers to provide KYC documents to the government. We as a society decided on taking away communication privacy, so even if you voted against it you still…
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Where are these mystical things that function because of crypto that wouldn't function with regular money, and which also are not fraud?
Privacy. Censorship resistance. Monero is a great cryptocurrency.
Privacy that is obtained by obscuring signatories or blending assets is just laundering.
Once again the use-case for crypto turns out to be... large scale criminality and fraud. Shocker.
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No, That's misinformation. There are actually no "proper" cryptocurrencies.
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.