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Comment by joe_momma | Hacker News Reader

The only scam has been Wall St and the corporations that created a slave wage system out of an entire country.

It's an amazing spin, attempting to move away from the point of contention which you can't defend. This type of rhetoric hooks poor unhappy/angry people right in. All just so you can make some quick cash. Don't pretend that crypto will even attempt to solve any of those issues. It's yet another method to transfer wealth out of poor people's pockets.

Defend crypto? Dude the blockchain database is what's going to change things. The coins aren't the technological revolution happening. The storage of information and its reliability is what is important here. You're just mad because it's replacing your old ways which you cannot defend.

While there are many issues surrounding our banking industry, the way it manages currencies is far superior to how any of the crypto currencies work. Fraud prevention, fraud reversibility, low fees, transaction rate, simplicity. Reliability is fine as well, I don't get the issue?

Keeping transactions publicly in the blockchain is probably one of the worst things that could happen to privacy.

I've read Bitcoin's paper back in ~2011, played with it's implementation a bit, so I'm well aware of what the blockchain is. It does NOT solve anything meaningful, it's not nearly as special as layman make it out to be.

Once again you're using one coin to represent the entire industry. You don't understand the technology and how it will penetrate every sector of society. Bitcoin is the KittyHawk of aviation. Yah no one flies the original plane anymore but it started an industrial revolution. And you are very much wrong on your assumptions on our current international money moving system. The benefits will be tremendous and is very much in play, go ask the central banks of France or Japan. You're missing out on what is happening right in front of your eyes.

> You don't understand the technology and how it will penetrate every sector of society. Bitcoin is the KittyHawk of aviation. Yah no one flies the original plane anymore but it started an industrial revolution.

I feel like you're about five years late to the blockchain-will-change-everything bandwagon.

Also your chronology is all wrong. The industrial revolution started well before 1903.

Sounds like you were five years too early. And prepandemic I would agree with you. Today I can't.

I also said "an industrial revolution" and not "The Industrial Revolution". But I'm glad you could no longer argue the validity of crypto currencies and the implications of mass adoption and use.

You don't work in finance, blockchain can solve a lot just look at Amazon QLDB, looks like it can solve quite a bit. And now you just sound jealous and very regretful.

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