HN Explorer

Why Crypto and Bitcoin not going to 0 if it's all scam?

6 points by anonfromsomewhe ↗ HN
I don't understand, for years HN told me it's all scam and they were right about tether getting caught for it. Now SEC also banned Bitcoin trading this week, so why these crypto things still worth anything? why cant they be 0 now. Can anyone here explain?

9 comments

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loveparade
Yeah, I don't understand either. How could HN or random internet people ever be wrong about something?
anonfromsomewhe
You mean majority here for years? Is it just something or HN is best at being wrong? This detail is just something I realize
gus_massa
1) Perhapas it's not a scam.

2) Perhaps "The Markets Can Remain Irrational Longer Than You Can Remain Solvent"

latexr
Why do Ponzi schemes still exist if they’re scams? Why do MLMs still exist if they’re scams? Why does any scam exist if it’s a scam?

The answer is obvious: because there are still enough chumps to be tricked. There will always be people willing to believe anything, and there will always be others ready to exploit that.

Plus, you’re conflating things. Cryptocurrencies as technology aren’t inherently scams, it just so happens their features make them an extremely well suited tool to run scams with (which can take various forms), so much so that’s by far their most common use case.

npoc
Because hardly anyone knows what they're talking about (even if they think they do).

BTW. CrYpTo is all going to 0. Bitcoin is going up forever Laura.

anonfromsomewhe
You mean like this person ? https://www.youtube.com/watch?v=jo58qEoThSs I agree
npoc
Yes, he doesn't realise that proof-of-stake is no good as a store-of-value compared to truly decentralised proof-of-work (bitcoin).

And any network that doesn't base itself around the best digital store-of-value asset (bitcoin) won't be able to compete with one that does i.e. ETH is going to 0. And by the same token so are USD, GBP, EUR, YEN etc. unless they change to be backed by bitcoin.