[nodesocket]

Frankly, this is the wrong audience. While, I love HN for technical advice and learning about new technologies and startup companies the vast majority of HN comments on finance and investing are flat out cynical, wrong, and the opposite of what I've done. There is a potent anti-capitalist sway to HN that misses the point about how to accumulate wealth. I'll be the first to admit, I lean fiscally conservative, and I get HN is not that, but as Warren Buffet famously says some people are just bad at money and finance.

[version_five]

Maybe it's because HN is actually a technically savvy demographic that sees through the bullshit?

[randomhodler84]

No, it’s not about that. I put a lot of it down to love of authority. Lots of folks can’t understand why anyone would want some money that didn’t have men with guns to save them. “My bank is safe”. These folks are trusting. Government will save the day.

And some don’t trust anyone. Hate banks. Love technology. See how detaching monetary systems from authority provides freedom.

It’s about trust. I trust none. Bitcoin is perfect, it is the money of my enemies and my friends.

[version_five]

As a counterpoint I'm a libertarian and very anti centralization. I see libertarians arguing for bitcoin alone the same lines as you. A decentralized medium of exchange might be nice, but as it is, cryptocurrency fails to address any of the concerns with fiat, and most importantly is a scam who's value is entirely based on speculation / greater fool, and not on it's utility as a medium of exchange. From what I've seen, it's on that basis that HN generally doesn't like it, not based on some deference to authority, which I agree is present in many discussions

[logicalmonster]

> cryptocurrency fails to address any of the concerns with fiat

This comment coming from a libertarian is a head-scratcher.

The biggest concern about fiat currencies from a libertarian perspective is that the government can inflate the currency at will with no real transparency possible.

Crypto generally eliminates this concern, either by having a fixed quantity of coins or a known inflation amount, and basically perfect transparency being possible through looking at the blockchain.

[randomhodler84]

Well there is the whole money printing thing. I think that’s fundamentally the problem at Bitcoin solved, along with the whole decentralized value transfer. It’s fundamentally libertarian technology; along with public key cryptography and peer to peer file sharing. I think the anti-coiners on here miss the forest for the trees.

[nodesocket]

Tech savvy does not equate to financial savvy. There is way too much cynicism here on HN related to investing, crypto, capital preservation (taxes) and expansion (investing).

[randomhodler84]

Those Damn Zoomers are all fully automated luxury gay space communists.

[shigawire]

Is your contention that criticism of the capitalist system is best explained by sour grapes?

I think someone strongly anti-capitalist would not be incredibly interested in the best strategies to accumulate wealth. And that is not a point against their critique.

Now if they didn't understand the system they were criticizing that is another thing. But in your comment it seems to imply only the rich would have a valid opinion - though I think that class has obvious biases in this discussion.