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SEC asks for emergency order to freeze Binance US assets anywhere in the world

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Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#141

The quality of discourse at this stage of the thread (2 hours, 20 comments) is incredibly disappointing. Hn usually has high quality discussions. What is it about crypto that causes us to lose our minds?

> Hn usually has high quality discussions. It doesn't.

Relative to other pseudonymous links-with-comments aggregation stations, I think it very much does.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#142

Earlier quoted context omitted.

Yup, it's a version of telling critics "Enjoy being poor", which is an incredibly lazy, unfalsifiable argument. "You disagree with my position because you are broken" is not a sound argument, but has many variations (including "You dislike Apple/Elon because you are poor")

It's really not. How would a self proclaimed technology enthusiast react to missing out on one of the greatest tech investment opportunities of their lifetime? I suspect that they would react exactly the way hn's crypto haters do now. No, you didn't make a huge mistake. It's crypto that's wrong.

Speculative opportunity maybe. I don't think I would call it an investment.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#143

Earlier quoted context omitted.

> anyone who wants to voice a reasonable opinion is likely to avoid doing so in order to not get piled on with downvotes, hatred, etc I think refraining from posting due to fear of downvotes is a massive disservice to HN. People should be exposed to views of all kinds. It wouldn't be very interesting if we all agreed. I actively try to post and reply even when downvoted. In the course of doing so I often discover tha…

The haves and have nots in the HN karma game is precisely the set of people who submit stories and the set of people who merely leave comments. A mediocre story submission trumps a great comment. So, you have to consider that when talking about downvotes being discouraging— for people that don’t submit stories it can feel very real.

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Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#144

The quality of discourse at this stage of the thread (2 hours, 20 comments) is incredibly disappointing. Hn usually has high quality discussions. What is it about crypto that causes us to lose our minds?

What is it about crypto that causes us to lose our minds?

People are unable to have discussions when talking across a divide where people who think one thing think things that cause pain for the other side.

If you have money in crypto, you think you're rich. The thought you might not be tends to be painful.

If you are in tech and don't have money in crypto, you think crypto is a scam. The thought you missed out tends to be painful.

Those two groups aren't going to talk to each other very well.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#145

Earlier quoted context omitted.

The problem IMHO is that it is so well-known that HN hates crypto that anyone who wants to voice a reasonable opinion is likely to avoid doing so in order to not get piled on with downvotes, hatred, etc. - At least for me that's it, it would be stressful to deal with that so I go elsewhere to discuss the technology. And this is probably precisely how an echo chamber can be created even without recommendation algorith…

> anyone who wants to voice a reasonable opinion is likely to avoid doing so in order to not get piled on with downvotes, hatred, etc I think refraining from posting due to fear of downvotes is a massive disservice to HN. People should be exposed to views of all kinds. It wouldn't be very interesting if we all agreed. I actively try to post and reply even when downvoted. In the course of doing so I often discover tha…

> I think refraining from posting due to fear of downvotes is a massive disservice to HN. People should be exposed to views of all kinds. It wouldn't be very interesting if we all agreed.

No evidence for this, but I think more commonly people refrain from posting because if you have a controversial opinion you don’t get one thread of posts to reply to suddenly everyone piles on and you’re “discussing” it with 50 different people.

This is a fundamental flaw in link aggregator style social media where the community is large.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#146
post #87

The quality of discourse at this stage of the thread (2 hours, 20 comments) is incredibly disappointing. Hn usually has high quality discussions. What is it about crypto that causes us to lose our minds?

it's not because you disagree with them that the quality is bad. Saying that crypto is very heavily linked to scams is an empirical fact at this point

I feel like this is a weak point. There are countless spam/scam websites out there, because anyone can spin up a page and publish something. That’s why you exercise a bit of caution and skepticism.

That’s the tradeoff of an open web. When you have a limitless design space, you get lots of trash.

But saying “websites are a scam” is just disingenuous to the fact that some websites are very legit and very useful.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#147

Earlier quoted context omitted.

Thanks for pointing that out. Clearly, the only people who hold anti-crypto views are just jealous and spiteful people. There totally doesn't exist any group of people who are just sick and tired of people propping up an almost totally useless technology as the savior of all financial, political, and social woes. /s Please, point out one single application of blockchain that is useful and more efficient, beneficially…

See above (and below) for the kind of low level effort comments you can find in most cryptocurrency threads.

See above for the typical coiner response to anybody who brings up counterpoints. I mention that people might not like how crypto is posited as a miracle-drug to all world issues- low effort. You add a comment which doesn't address my comment at all and just comes across like a wannabe reddit zinger- not low effort? The irony is palpable. Just go back to /r/bitcoin or whichever echo chamber you prefer.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#148

Earlier quoted context omitted.

This is a typical sort of projection I see from crypto-owners. They can't seem to contemplate the fact that there are people that think crypto is a bad idea _regardless_ of how much profit they might or might not have made by buying or selling at various points in history.

Crypto made a mockery of the authorities and their war on drugs. A bad idea lol? No, it started a revolution.

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Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#149

Earlier quoted context omitted.

This is a typical sort of projection I see from crypto-owners. They can't seem to contemplate the fact that there are people that think crypto is a bad idea _regardless_ of how much profit they might or might not have made by buying or selling at various points in history.

Nor that cryptocurrency doesn't create value out of nowhere -- for every person who "built generational wealth" ( gag ) by speculating on cryptocurrency, there's probably quite a few people who lost money. It's a zero-sum system.

If people can somehow keep cryptocurrency values high, they can take USD margin loans out of their Bitcoin holdings, which increases the amount of total dollars laying around. That’s what happened in 2021 that bumped crypto asset prices due to extremely low USD interest rate and quantitative easing. In terms of USD it is really not zero-sum, though you may take it in other ways.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#150

Earlier quoted context omitted.

I can contemplate that. What I can't understand is wanting the government to tell people they can't buy it because they think it's a bad idea.

It's not 'you can't buy it', it's 'you can't sell it and also steal the funds of the people you sold it to'.

That was never legal in the first place.
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