US SEC sues Coinbase, one day after suing Binance

Post by Breza » Mon, Jun 12, 2023, 2:15 PM UTC

kobasa wrote: post #410

acdha wrote: post #373

Earlier quoted context omitted.

> I don't know what it is about crypto that makes HN commentators want to make the most ridiculous, put-downy statements without evidence to back it up. HN has many people who understand how technology work and a smaller but still large number of people who understand economics. Cryptocurrency has a few people like that but also a ton of get-rich-quick types who think their best work is making random claims until som…

>Cryptocurrency has a few people like that but also a ton of get-rich-quick types There are literally hundreds of millions of people who're into cryptocurrencies...and you clearly don't have a clue what kind of people are into it and to what degree. I'd suggest not to make up statements like this if you want your opinion to be taken seriously. FYI bypassing capital controls with cryptos does not necessarily mean "bre…

Post by Breza » Mon, Jun 12, 2023, 2:24 PM UTC

gen220 wrote: post #284

this_user wrote: post #154

Earlier quoted context omitted.

I think it's more a case that anyone who was involved in crypto early, and who has actually taken the time to understand the technology, has realised about a decade ago that crypto currencies are mostly useless. But then people had they idea that they could still make money from it by grifting people if they just added layer upon layer of complexity in order to disguise the ultimate uselessness of the underlying tech…

I think people are latching on to the magnitude of your claim rather than the direction and therein missing the point. FWIW, as somebody who meets your criteria, myself and my network of people from that time offer much credence to your claim. Even back in 2016/17, many people involved were openly bemoaning how 80+% of ICOs were unregistered security offerings to vaporware. You can almost pinpoint the inflection poin…