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Comment by bitreality | Hacker News Reader

Crypto is a legitimate investment. It's an entirely new asset class. If you think it's going away anytime soon you're delusional. 5 years ago you could buy 1 BTC for $100 USD. And at that point it wasn't even new. 1 year ago you could buy 1 ETH for about $50.

The average person would struggle very hard to find any investment that goes 80X in 5 years, or 12X in one year. With Bitcoin and crypto, lots of regular people have made returns they could never dream of on the stock market.

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My collection of funny JPEGs is also a legitimate investment. It's an entirely new asset class, although not as overhyped as Bitcoin.

Right. Your collection of infinitely reproducible picture files is comparable to the first truly decentralized value transfer and storage system.

It's clear you have no intention of understanding what makes Bitcoin interesting or valuable.

What happened to gold?

I agree with you entirely.

You won't find enough allies here for some reason. The technical ability exists but there's also a refusal to look and think for themselves.

We are looking at the tools that can completely redefine our society. Meanwhile a significant amount of engineers here are selling all their time for 0% royalties and investing in "2045 retirement funds".

It's no wonder there's hostility to a system that says you don't have to do that.

Disagreeing with you does not mean that people can't "think for themselves". To insinuate so is extremely uncivil.

"Meanwhile a significant amount of engineers here are selling all their time for 0% royalties and investing in "2045 retirement funds"."

And crypto would do absolutely nothing to change that.

You are twisting my words. I'm saying there's a significant amount of intelligent people who can think for themselves in other situations that refuse to seriously look at cryptocurrency and have a knee-jerk reaction instead.

High returns != legitimate investment

Fixed supply, instantly audit-able, open source, decentralized. In many ways, you know a lot more about what you're buying with Bitcoin than with equities.

That's very true now that you mention it, equities are not open source or decentralized. I'm liquidating my portfolio and going all in

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