Why are so few people on HN into defi & ETH?

#1

Post by federiconitidi » Wed, Apr 08, 2020, 3:38 PM UTC

I kind of struggle uderstanding this and really curious to hear why. I saw many projects being posted/ showcased here on HN which got an incredibly low traction despite being at the very edge of technology/finance/game theory.

TLDR HN doesn't care about crypto/Defi. Why?

Re: Why are so few people on HN into defi & ETH?

#2

Post by red_admiral » Wed, Apr 08, 2020, 3:42 PM UTC

I can only speak for myself, but my opinion is that about one third of it is useless and the other two thirds are scams.

There is an incredible marketing campaign behind these things, I'll give them that, but at the end of the day I still believe that the whole field is essentially worthless.

The low uptake of these things among a crowd that understands 'tech' a lot more than the average user might be a sign of something.

Re: Why are so few people on HN into defi & ETH?

#3

Post by verdverm » Wed, Apr 08, 2020, 3:54 PM UTC

Most HNers realize we can do almost every blockchain application that comes along, without blockchain and better.

Blockchain lives in a bubble and has a technical hammer with very few nails. Also scams and malicious players

The good projects I've seen are HyperLedger and Handshake

Re: Why are so few people on HN into defi & ETH?

#4

Post by verdverm » Wed, Apr 08, 2020, 5:10 PM UTC

verdverm wrote: post #3

Most HNers realize we can do almost every blockchain application that comes along, without blockchain and better. Blockchain lives in a bubble and has a technical hammer with very few nails. Also scams and malicious players The good projects I've seen are HyperLedger and Handshake

Another good example is the post with price predictions. Please stop. It's a manipulated and unregulated market.

Re: Why are so few people on HN into defi & ETH?

#5

Post by simonblack » Wed, Apr 08, 2020, 11:22 PM UTC

For what it's worth, my philosophy is that if you can't see or touch something (in other words, a 'tangible asset') it has no intrinsic value.

Thus, if its value can be instantly changed upwards or downwards, it is potentially worthless, and only relies on herd mentality for its value.

For Americans, a good example is Confederate Currency. When was the last time you could buy a Big Mac with a Confederate currency note? For Zimbabweans, what could you really buy with one of those $100 trillion banknotes ?

https://cdn.cnn.com/cnnnext/dam/assets/160504154606-one-tril...