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I wasted years of my life in crypto

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681 points Anon84 | 3 comments | 07 Dec 25 12:57 UTC | HN request time: 0s | source
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spicyusername ◴[07 Dec 25 13:28 UTC] No.46181533[source]▶
I've never understood the initial arguments about Bitcoin, no matter how many times they've been explained to me.

The block chain is, and always was, an extremely inconvenient database. How anyone, especially many intelligent people, thought it was realistic to graft a currency on top of such a unwieldy piece of technology is beyond me. Maybe it goes to show how few people understand economics and anthropology and how dunning-krueger can happen to anyone.

Now the uninformed gambling on futuristic sounding hokum? THAT is easy to understand.

That being said, I'm sorry the author had to go through this experience, the road of life is often filled with unexpected twists and turns.

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1. nacozarina ◴[07 Dec 25 13:37 UTC] No.46181592[source]▶
read the original Satoshi paper

all the 3rd party summaries/interpretations of this paper are problematic. Read the original.

replies(2): >>46182328 #>>46188735 #
2. sigwinch ◴[07 Dec 25 15:21 UTC] No.46182328[source]▶
I’m not sure the paper or the character Satoshi himself matter anymore. Once you have a preeminent coin with fiat power behind it, the details of a paper and the wherewithal to reinvent that coin more purely are irrelevant. Once a particular political family signaled that control starting in Sept 2024, keeping close to that family reassured you of a bailout or pardon.
3. wmf ◴[08 Dec 25 05:32 UTC] No.46188735[source]▶
The whitepaper has some problems. Satoshi isn't automatically right and virtually no one uses Bitcoin/crypto the way Satoshi envisioned. Arguably if you judge Bitcoin based on the whitepaper it is a complete failure.