> The fact that none of the top 3 cryptocurrencies are inflationary tells you everything you need to know about the motivations of the early adopters.
The fact that they think their crypto is more important than democratic government sovereignty tells you the rest. It's the moral equivalent of "I got mine, screw you".
Why should the crypto whales be in charge? Who elected them? What good do they do for the rest of us?
Crypto doesn't pave the roads, feed the poor, or invest in university science R&D. Instead it wastes energy, causes GPU shortages, peddles away the brains of brilliant engineers on useless tech, and creates incentives for more ransomware.
These folks are hoarding digital Beanie Babies and touting it as the next coming Messiah. What they're really thinking is how rich they'll be if we all fall for the same trap.
Bitcoin sucks.
edit: to respond to a followup comment:
> The fact the parent post has already been modded down is what pisses me off about the crypto currency world
The thing that gets me is that two downvotes tripped HN's anti-flame/anti-spam filter, and now I can't comment anymore. Whatever. I'm not convincing anybody with strong convictions. My arguments are valid (and not unique to me), and I hope they spread to the broader public.
The fact the parent post has already been modded down is what pisses me off about the crypto currency world - people feel they are entitled to trash altcoins all they want, but say anything bad about bitcoin, and you'll meet the bitcoin bury brigade ("oh no, can't have anyone saying anything perceived as even remotely negative about bitcoin, no no no!") (Betcha if parent hadn't mentioned bitcoin the post wouldn't have been downvoted).
Frankly, the toxicity I've seen, especically from the bitcoin bros, would make the early days of the 'Mac vs. PC' blush (not to mention the WS movement going on now).
But the thing I especially hate is how modding has become weaponized to silence anyone seen as a foe/critic (aspiring authoritarian, much?):
> The thing that gets me is that two downvotes tripped HN's anti-flame/anti-spam filter, and now I can't comment anymore.
The beauty of crypto is that you can elect which ecosystem you participate in. If you don't like bitcoin because it's dominated by whales, go to eth. If not eth, try doge or Monero. Or start your own. It's pretty easy to move money between cryptos, that you only hold Monero and your friends only holds doge does not stop the two of you from transacting
> The beauty of crypto is that you can elect which ecosystem you participate in.
The beauty of fiat is that the government can print more, if needed, and can tightly regulate monetary supply to increase the health of our economy and breadth of our trade.
The FBI and CIA can monitor who transacts and can shut down hackers and terrorists. I can also elect the people in charge of the system so that they can create more opportunity.
> If you don't like bitcoin because it's dominated by whales, go to eth. If not eth, try doge or Monero.
Bitcoin makes the Winklevosses richer. Ethereum makes Buterin richer. Everyone hawking this is getting richer, but nothing worthwhile is being done.
> Or start your own.
What the hell good does that do? I'd rather use my life to solve real problems. I want to make creators more money, increase the amount of art in the world, and eventually work on solving cancer and metabolic diseases.
I don't have time for this garbage, and neither does the rest of the world. It's wasted compute, both in terms of GPU and brain cycles.
> It's pretty easy to move money between cryptos, that you only hold Monero and your friends only holds doge does not stop the two of you from transacting
I can already move money. What problem is being solved?
Maybe this is great if I want to illicitly move money or dodge taxes. I don't see any other reason for it.
I do wonder what effect this opinion will have in the next 12 months for DOGE.