Comment by ObserverNeutral | Hacker News Reader

Comment by ObserverNeutral | Hacker News Reader

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ObserverNeutral

No way. The vast majority of people who invest in crypto do so because in the back of their mind they are afraid of inflation

That's the spring which compels them to invest: hatred towards the Fed policy of 2%, the public would really love a -2%.

The sentiment is so strong that they accept the consequences of the vastly inferior settlment mechanism which is BTC as well as all the headaches.

People don't have the same hatred and concern for companies which Eth aims to disrupt. People by and large love their user experience on Amazon, Google, Youtube, Robinhood etc. whereas Eth and DeFi is overtly complicated with 0 liquidity

The only bull case I can see for DeFi is that nerds with money and cryptopunk attitude would think that regular people would want to exchange JPMorgan and RobinHood for DeFi...in that case of course price will pump because a whole lot of people anticipate something, but it won't happen for real, just as an appreciation due to people betting and projecting that everybody is wired as them.

So, your suggestion is that no only are crypto investors worried about inflation, they are worried about inflation more than climate change (it's the opposite for me). I would love to see some poll of the Ethereum and Bitcoin communities to see how representative our respective views are.

Absolutely, inflation you can hedge against, for climate change you need the whole world to play ball. It's something people say in the social setting to look cool and hip, but when the curtains are closed they buy the cheapest stuff no matter the source.

Also at the individual level the only good move is to secure that you'll not be affected by climate change. How? By becoming rich, which is a natural consequence of not losing out to inflation and also by profiting off the appreciation of BTC.

Wow, I definitely disagree that becoming rich is the right hedge against climate change. That's a zero-sum view of the world that I don't agree with or support.

Your comments make me even more enthusiastic for Ethereum to move to proof-of-stake, so that we can (at least!) signal our willingness to collectively address climate change.

> hatred towards the Fed policy of 2%

More like hatred toward the Fed's inability to limit inflation to 2%.

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