[saurik]

> ...because many people still don't understand that this is analogous and convertible to money in your bank account especially at these convenient amounts...

FWIW this project doesn't have its own token (this L2 uses ETH as its currency just like the base layer), so the bug bounty payout is denominated in actual USD.

[vmception]

Whether they paid in ETH priced in USD, or a stablecoin, or a USD wire to your bank account, many people aren't aware that getting paid in this space is that lucrative and that liquid and that simple.

[seibelj]

saurik is pretty famous, I would estimate that most serious players in this space know the money is here. What is good about this post and the fact it's on top of HN is that maybe the average HN reader will be curious and help shift the crypto narrative on HN from negativity to at least neutrality.

[vmception]

Yeah it would be great and more on brand for this forum to have neutrality

The actual communities for most projects and general crypto are obnoxious, and probably what has helped push or keep this community to negativity, i could see it flipping to neutral though, judging by the emails I get there are plenty builders and educated proponents here

[antocv]

But the negativity is well deserved

Look at how the crypto-sphere reacted at FEDs returning "stolen" coins to Bitfinex like all praise and "justice served". Only HNers actually raised "hey guys why do you even crypto if FEDs will decide who owns what".

It all ends up being Government-coin and they like it.

[vmception]

To me, this is Exhibit A of the oddly incoherent nature of discussions that appear here. What you wrote is a random mixture of ideology, misinterpretation of what happened, and the wrong forum for it.

Where would one even start?

US Govt hasn't returned the bitcoin to Bitfinex. Bitfinex has stated they would apply for getting it returned. This is the process these things take. All that has occurred is a DOJ/FBI seizure, indictment and arrest. I don't know what reaction you referring to and your sentences are ideological hyperbole that have nothing to do with the technology. This is a technology and industry forum. The technology allows any possessor of the private key to assume control over the entries in that private key.

[miracle2k]

This is a popular line of thinking among reputable crypto critics: https://twitter.com/alexhern/status/1491449689656360961

I agree its incoherent, but I struggle to understand of how it makes sense to them.

[8note]

The Dan olsen analysis is very clear about how lucrative and liquid it is, and where those come from. Ethics wise, that liquidity comes from the scams and you're part and parcel to them by participating

[vmception]

Even if that was something to care about, the entire economy works that way. I don't feel that it is a role of the state to whitelist what money can go into what economy, and even though it has assumed that role in the fiat system it is not successful.

So just go where the action is. Don't scam people yourself while you are at it.