Hacker News Reader

Crypto is a complex solution looking for a problem.

It's kind of funny how it's marketed as a secure alternative to banks. Like; banks were the more secure alternative to hiding your money inside the mattress. Crypto almost feels like a worse version of hiding bank notes.

Crypto is like giving your banknotes to a guy who then gives you a digital receipt which only you can access and sometimes even you cannot, the receipt value fluctuates and can be traded for other receipts or transferred to an exchange of unknown jurisdiction where it might be swappable for your banknotes again.

Hidden behind smoke & mirrors because autocorrect (non-1984 version), automatically changed bites to bytes?

This is such a simple take.

Bitcoin != FTX. There are many fair arguments to be made against crypto, but this is like saying stock market is BAD because of Bernie Madoff.

Journalism is dead.

There is nothing fundamentally different about Bitcoin versus other crypto ledgers. There really is no reason to think that its value won't eventually look exactly the same as every other "coin" that have come and gone.

Perhaps, and that’s a risk for people to take at their own prerogative.

FTX sold people coins and then didn’t actually keep them on the books.

The word 'bitcoin' appears twice on the entire webpage.