Hacker News new | ask | show | jobs
by gonzo41 1469 days ago
If my bank withheld my withdrawals of my money, I'd not behave the most even tempered way.

Whilst I DO think crypto is a scam, or at best a very terrible waste of time and effort from all involved. I will accept that I could be wrong.

But, scam or not, this early turbulent history will cement a stigma of crypto being synonymous with grifters and scammers. I don't see a future in it.

It'll be interesting to see if btc breaks through the 20k barrier today and what effect that has on the hype.

1 comments

People mistake Bitcoin, which has no central custodian and will continue clearing transactions all day long, every ten minutes, immune to all interference, with the rest of 'crypto', which is a giant money-lending dumpster fire that isn't backed by anything.

Once all the dust settles down Bitcoin will keep ticking along just like it's been doing for years.

For good reason... Bitcoin enabled this ecosystem, and a currency is ultimately only as good as its ecosystem. For example, Roman Denari are worth nothing as a currency [1]. No banking system accepts them.

[1] Used Denari because it's an old currency I know. Of course, there's collector value, but there are other useless currencies today I've never heard of worth nothing on the collector's market too. Unfortunately, I can't cite any, given how useless they are today.