[deweller]

The tone of this comment is harsh and inflammatory. But I agree with the sentiment.

The tech is genuinely interesting and certainly doesn't lack hype. That is usually a formula for positive comments on Hacker News. So I'm genuinely curious why so many users here are against Bitcoin.

Is it because they didn't buy in early and want to justify missing the boat? Does it make people feel their own startup is somehow less relevant? Does it threaten the traditional VC funding model?

[johnwheeler]

> Is it because they didn't buy in early and want to justify missing the boat?

Not one bit. It's because people are losing their heads over it, it's got classic bubble written all over it, and you've got people who've made money and think they're all the wiser for it.

They arrogantly carry a sentiment that detractors are just jealous. Human nature to do that--I get it.

There's a saying I heard, something like "Sure, you made a lot of money buying the stocks of tobacco companies. So what? You're still an asshole."

In my mind, buying Bitcoin is like shorting the US financial system with the idea that it sucks and should to hell anyway. But, our system with all it's flaws works pretty damn well. It shouldn't be taken for granted and bet against.

[grizzles]

I don't like it because it's bad for the environment.

Eventually someone like Vanguard will come along and offer a blockchain with real value behind it. After this, all the hype around bitcoin will just look embarrassing in the aftermath.

The SEC was useful when information was hard to come by, but now it's just standing in the way of progress.