Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Spot Bitcoin ETF receives official approval from the SEC

cointelegraph.com

Post reply on HN
Print view View original

331–340 of 1001 posts

Re: Spot Bitcoin ETF receives official approval from the SEC

#331

Post by mlrtime »

wlesieutre wrote: post #272
Octokiddie wrote: post #205

The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…

The whole premise of burning energy just for “proof of work” is what I hate. I work in architecture and year after year the industry is pushing to squeeze every last bit of energy efficiency out of everything. Meanwhile bitcoin is like “BURN SOME COAL TO ACCOMPLISH LITERALLY NOTHING USEFUL! AND KEEP DOING IT FOREVER!” And the crypto people will always bring up “Mining gold just to make gold bars is a waste of energy…

Architecture isn't useful, it's a waist of resources. Every building should be identical, we just need one type of each building usage type, then we can get rid of the architects.

Re: Spot Bitcoin ETF receives official approval from the SEC

#332

Post by neilv »

Octokiddie wrote: post #205

The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…

> I think part of this sentiment boils down to the commenter seeing no point to Bitcoin.

I thought cryptocurrency was an interesting and promising idea. But I got away from it around the time it became clear the entire space was overrun by wall-to-wall scamming. And it's safe to disregard anyone who doesn't acknowledge that.

If someone says "Yeah, it's wall-to-wall scamming, and other than that, the main use of it is for organized crime transactions, but there's this silver lining of X", then I might listen to X briefly, even though it seems irrelevant at this point.

If someone doesn't phrase their advocacy with acknowledging the massive BS, then I assume the person is just another scammer (and they might be even if they acknowledge it).

Re: Spot Bitcoin ETF receives official approval from the SEC

#333

Post by [deleted] »

mlrtime wrote: post #331
wlesieutre wrote: post #272

Earlier quoted context omitted.

The whole premise of burning energy just for “proof of work” is what I hate. I work in architecture and year after year the industry is pushing to squeeze every last bit of energy efficiency out of everything. Meanwhile bitcoin is like “BURN SOME COAL TO ACCOMPLISH LITERALLY NOTHING USEFUL! AND KEEP DOING IT FOREVER!” And the crypto people will always bring up “Mining gold just to make gold bars is a waste of energy…

Architecture isn't useful, it's a waist of resources. Every building should be identical, we just need one type of each building usage type, then we can get rid of the architects.

[deleted]

Re: Spot Bitcoin ETF receives official approval from the SEC

#334

Post by [deleted] »

Octokiddie wrote: post #205

The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…

[deleted]

Re: Spot Bitcoin ETF receives official approval from the SEC

#335

Post by lern_too_spel »

obviouslynew wrote: post #319
kemotep wrote: post #263

Earlier quoted context omitted.

Is it possible that you can understand bitcoin and still not like it?

Sure as long as you realize its simply an opinion and not act like it's a fact that it's bad. Fundamentally it feels like every time these threads open up on HN 70% of it is bad faith, repeat arguments. Don't like Bitcoin's Proof of work properties, check out Ethereum. Don't think that everything needs to be on one central ledger? Check out Polkadot. It feels like so many commenters here put their heads in the sand a…

I object to Bitcoin on the fact that governments regulate money, so centralization is guaranteed. Wasting any effort on fake decentralization is objectively inferior because it adds to the cost with no benefit.

Re: Spot Bitcoin ETF receives official approval from the SEC

#336

Post by wmf »

ksjskskskkk wrote: post #241
nullc wrote: post #120

Earlier quoted context omitted.

[flagged]

not sure why this is being down voted. as someone who worked "internal recovery" at banks in the 90s, you'd be surprised how much stolen money is not reported anywhere if the law was iffy for freaking banks then, imagine how it is for btc

I wonder if there's a relevant difference between a fractional-reserve bank and a full-reserve custodian. I guess it doesn't matter as long as insurance pays out...

Re: Spot Bitcoin ETF receives official approval from the SEC

#337

Post by arkis22 »

maxioatic wrote: post #20
moose_man wrote: post #5

This is so sad. Crypto (including Bitcoin) serves as a money funnel while takes from economically insecure middle class retail investors and pours it into the pockets of the tremendously wealthy.

Haven't heard this take before. What are your thoughts on high frequency trading shops and the regular stock market?

If you are upset at trading shops or the stock market as a retail trader, you dont understand the game you are playing.

Re: Spot Bitcoin ETF receives official approval from the SEC

#338

Post by mistercheph »

epolanski wrote: post #257
rafaelero wrote: post #240

Earlier quoted context omitted.

Bitcoin is wealth in the cloud. There's immense utility in being able to digitalize your wealth, including higher mobility and, since it is a decentralized network, assurance that it won't be inflated, confiscated and that you will have the freedom to transact it with whoever you want.

Cool. Going on GitHub and downloading core code and deploying a new coin based on Bitcoin or some other crypto. I'll call it HackerNewsCoin. Didn't know it was that simple to create "wealth". What a foolishness to think that something that has no intrinsic value can constitute wealth. Don't confuse price with value. It really is true crypto combines all that people don't understand about economy with all that people…

> combines all that people don't understand about economy with all that people don't understand about technology

I agree 100% with this but it is describing you.

Re: Spot Bitcoin ETF receives official approval from the SEC

#339

Post by IG_Semmelweiss »

koolba wrote: post #293
elif wrote: post #285

Earlier quoted context omitted.

The only losers in bitcoin are the ones that stopped. Any 5+ year holding has been ridiculously profitable. In gambling, the longer you continue, the more certain it is that you will lose. Bitcoin is a uniquely ironic form of gambling if it's gambling at all.

We’re still below the all time highs of about $68K so will need 3 more years to see if that theory plays out.

I think timing may not work , but given the strict limited supply, this works in the long term.

Of course, this is highly dependent on the "coin"

Re: Spot Bitcoin ETF receives official approval from the SEC

#340

Post by cornholio »

obviouslynew wrote: post #307
cornholio wrote: post #300

Earlier quoted context omitted.

> Bitcoin just needs to fill needs (or wants) not met by anything else. That want being, in this case, the need to evade financial regulators and easily move large amounts of money untraceable. There is basically no other thing Bitcoin does better than traditional electronic cash, especially with the transaction fees reaching current values. Is it a legitimate want? It's a complex question involving personal and poli…

By your logic then, Signal is just a method for terrorists and child predators to communicate? Do you hold that opinion of Signal?

So you are comparing communication privacy to financial privacy for very large money transfers? As I've said, it's a question of political values, but I think you will find the vast majority of people not sharing that point of view.

Also, unlike Bitcoin, Signal ads strong privacy on top of a very functional base product.

Post reply on HN