[elefanten]

I suppose this was supposed to sound like a snappy argument? It’s a bland, impactless statement. Even if scumbags are infatuated with something, it can still have legitimate and beneficial uses / users.

And the comment’s wrong too… the scumbags probably want to cash their gains out to traditional currencies, they’re least likely to be in it as technology true believers.

[ricardobeat]

I think what he was trying to say is that saying "crypto attracts scumbags" puts the onus purely on consumers of the tech, when in fact a lot of the scummy behavior, hype and fraud is planned and encouraged by the people implementing the technology, not only their users. That's a significant departure from "any other movement".

[zepto]

> That's a significant departure from "any other movement".

Exactly this. There are scumbags in every movement, but crypto has structural incentives for scumbaggery that make it distinct.

[zepto]

> Even if scumbags are infatuated with something,

Nobody is taking about infatuation except you.

Obviously the comment is talking about the incentive for people to try to drive the value of their holdings up.

The scumbags are the ones who do this dishonestly.

> And the comment’s wrong too… the scumbags probably want to cash their gains out to traditional currencies, they’re least likely to be in it as technology true believers.

No. Anyone can be a scumbag. It has nothing to do with being in it for a quick buck or being a true believer or not. It’s simply about what methods one is willing to use.

So yes, Hodlers, and crypto-utopians can be scumbags too.