[mrwong]

Its interesting to see how hostile HN is towards Cryptos. Completely ignoring the opportunities that it offers for fund raising Start Ups. At the same time HN likes to bash VCs that are uptight and how hard it is to find capital. I think this is a sign that even the tech world is not resistant to legacy thinking. Just like the legacy thinkers of other industries, like print and brick and mortar commerce were dismissing the new innovation that is happening on the internet. This time the "internet guys" that are so familiar with the legacy VC model are dismissing the new innovation in VC.

As with most legacy thinker its almost impossible to change there mind with arguments, they like to ponder on the risks and counter arguments, just to stay comfy in the status quo.

Banking, Finance, VC is one of the oldest industries with the least innovation in the last century.

The really smart VCs did already realize that and instead of shuffing their head into the sand. They started proactivaly getting involved into the field

Tim Draper of DFJ, (Tesla, SpaceX, Skype Early Investor) holds over 1B$ in the crypto space.

https://www.youtube.com/watch?v=obKtE1in7NA

[paulgb]

HN was actually pretty pro-crypto 4-5 years ago, I think the tech world in general has started to see crypto and ICOs as a bubble within the last year or so.

[MengerSponge]

Probably not wrong: I've started seeing crypto investment posts from friends who are musicians, teachers, and baristas.

https://blogs.cfainstitute.org/investor/2014/02/10/top-anecd...

[root_axis]

> completely ignoring the opportunities that it offers for fund raising Start Ups

Millions in funds with zero accountability... ok that's a pretty decent deal, I can't argue with that.

> were dismissing the new innovation that is happening on the internet

Where is the innovation? The innovation with regard to print and commerce on the internet was that people could access publications and products without having to leave their home; a very clear benefit for consumers that was prohibitively impractical at best before the internet. Where is the innovation for cryptocurrency? It is clearly a marvel of technology that money can emerge from code, but, as has been repeated over and over again, it doesn't solve any problems for the vast majority of people. Credit cards and banks service all the financial needs for the vast majority of consumers and cryptocurrency offers no compelling benefits at the cost of serious risk, a technical learning curve, and an ecosystem full of scammers.

> As with most legacy thinker its almost impossible to change there mind with arguments, they like to ponder on the risks and counter arguments, just to stay comfy in the status quo.

And that right there is a great technique for engendering hostility: condescending ridicule in response to criticism. Yeah, we're all just bitter naysayers stuck in our ways, probably just jealous because we didn't get on the bitcoin rocket to the moon back in the early days.

> Banking, Finance, VC is one of the oldest industries with the least innovation in the last century.

Bitcoin has nothing to do with banking or finance, it's a first-of-its-kind digital commodity that can be traded on the internet... that's cool... that's noteworthy... but completely unremarkable as it relates to banking or finance.

> Tim Draper of DFJ, (Tesla, SpaceX, Skype Early Investor) holds over 1B$ in the crypto space.

With nothing to show for it besides middle-men businesses like exchanges. Can you name even a single cryptocurrency venture where the business model isn't "charge fees for the service of moving around blockchain tokens"?

[arcticfox]

I would say HN is very pro-crypto in the sense of projects that are actually useful or novel.

And only hostile about the mainstream media "get rich quick by speculating on crypto" narrative.